UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report:
June 7, 2007
Maxim Integrated Products, Inc.
120 San Gabriel Drive
(Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Sunnyvale, California 94086
(Address of principal executive offices including zip code)
(408) 737-7600
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
(c) As previously announced, Alan Hale was appointed to serve as the Vice President of
Finance and Interim Chief Financial Officer of Maxim Integrated Products, Inc. (the "Company")
effective January 31, 2007.
(e) On June 7, 2007, the Company and Mr. Hale entered into an agreement (the
"Agreement") regarding Mr. Hale's service as the Company's Vice President of Finance and
Interim Chief Financial Officer during the period starting January 31, 2007 through June 30, 2007
(the "Service Period"). Under the Agreement, Mr. Hale will receive an annual salary of
$300,000, prorated for the Service Period. Mr. Hale will also be eligible to receive a one-time
bonus of $394,615 on July 1, 2007 provided Mr. Hale satisfactorily completes the assignments
given to him by the Chief Executive Officer as determined by the Board of Directors. In the
event the Company terminates Mr. Hale's employment before June 30, 2007, then his salary
would stop immediately and the one-time bonus of $394,615 would be prorated based upon the
number of weeks worked and then paid to Mr. Hale. For services performed after June 30, 2007,
Mr. Hale will continue to receive an annual salary at the rate specified above and be eligible for
performance compensation at the discretion of the Board of Directors (or the Compensation
Committee) for such services. The Company will also reimburse Mr. Hale for his travel,
temporary living and related expenses incurred during the Service Period while working at the
Company's corporate headquarters in Sunnyvale, California. In the event Mr. Hale were to be
appointed the Company's Chief Financial Officer on a permanent basis, then Mr. Hale's
compensation package would be determined at that time.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Maxim Integrated Products, Inc.
By: /s/ Tunc Doluca
Tunc Doluca
President and Chief Executive Officer
Date: June 8, 2007