MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

As previously disclosed, on May 15, 2019, John Croteau resigned from his roles as President and Chief Executive Officer of MACOM Technology Solutions Holdings, Inc. (the “Company”) and from the Company’s Board of Directors. On July 11, 2019, MACOM Technology Solutions Inc., a wholly-owned subsidiary of the Company (together with the Company and its other affiliates, “MACOM”), and Mr. Croteau entered into a letter agreement regarding the terms of Mr. Croteau’s transition (the “Separation Agreement”), to which Mr. Croteau will receive severance consisting of severance benefits set forth in the letter from MACOM to Mr. Croteau dated September 6, 2012 regarding an Offer of Employment with MACOM, including (i) twelve months of base salary equaling $689,585.00, (ii) reimbursement for premiums for the continuation of coverage under MACOM’s medical and dental plans for Mr. Croteau and his dependents and (iii) twelve months of accelerated vesting credit against any outstanding equity grants the vesting of which is based solely on continued employment or service, subject to Mr. Croteau’s execution and non-revocation of the Separation Agreement and the General Release Agreement attached thereto. In exchange for such severance, Mr. Croteau agreed to release claims against MACOM and to comply with certain restrictive covenants, including confidentiality, invention assignment, non-solicitation and non-interference, as set forth in the Separation Agreement and the Employee Confidentiality and Invention Assignment Agreement in Connection with Severance and General Release Agreement attached to the Separation Agreement.

This summary of the Separation Agreement and attachments thereto does not purport to be complete and is qualified in its entirety by reference to the complete text of the agreement, a copy of which the Company intends to file with its Quarterly Report on Form 10-Q for the fiscal quarter ended June 28, 2019.

About MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

MACOM Technology Solutions Holdings, Inc. is a provider of high-performance analog semiconductor solutions that enable Internet applications, the cloud-connected applications economy, and the networked battlefield across the radio frequency (RF), microwave, millimeterwave and photonic spectrum. It has multiple design centers, silicon, gallium arsenide and indium phosphide fabrication, manufacturing, assembly and test, and operational facilities throughout North America, Europe, Asia and Australia. It also offers foundry services. It offered a portfolio of over 4,500 standard and custom devices, which include integrated circuits, multi-chip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components and complete subsystems, across more than 40 product lines serving three primary markets, as of September 30, 2016. The Company’s products are RF Power Products, Optoelectronics and Photonic Solutions, among others.