IRF » Topics » Certain Relationships and Related Transactions

This excerpt taken from the IRF DEF 14A filed Sep 29, 2009.

Certain Relationships and Related Transactions

        Since the beginning of fiscal year 2009, there have been no transactions, and there are no transactions proposed as of the date of the Proxy Statement, in which the Company is or was a participant and the amount involved exceeds $120,000 and in which any related party had or will have a direct or indirect material interest.

This excerpt taken from the IRF DEF 14A filed Dec 8, 2008.

Certain Relationships and Related Transactions

        The Company paid expenses in the amount of approximately $280,000 in fiscal year 2008 for consulting services related to semiconductor market activities provided to the Company by iSuppli Corporation ("iSuppli"), whose President and CEO is Derek Lidow, son of Eric Lidow, who was Chairman of the Board through May 1, 2008.

These excerpts taken from the IRF 10-K filed Sep 15, 2008.

Certain Relationships and Related Transactions

        The Company paid expenses in the amount of $150,000 in fiscal year 2007 for consulting services related to semiconductor market activities provided to the Company by iSuppli Corporation, whose President and CEO is Derek Lidow, son of Eric Lidow, who was Chairman of the Board through May 1, 2008. Additionally, the Company has contracted with iSuppli for additional consulting services in the amount of approximately $280,000 payable in the Company's 2008 fiscal year.

Certain Relationships and Related Transactions



        The Company paid expenses in the amount of $150,000 in fiscal year 2007 for consulting services related to semiconductor market
activities provided to the Company by iSuppli Corporation, whose President and CEO is Derek Lidow, son of Eric Lidow, who was Chairman of the Board through May 1, 2008. Additionally, the
Company has contracted with iSuppli for additional consulting services in the amount of approximately $280,000 payable in the Company's 2008 fiscal year.



These excerpts taken from the IRF 10-K filed Aug 1, 2008.

Certain Relationships and Related Transactions

        The Company paid expenses in the amount of $150,000 in fiscal year 2007 for consulting services related to semiconductor market activities provided to the Company by iSuppli Corporation, whose President and CEO is Derek Lidow, son of Eric Lidow, who was Chairman of the Board through May 1, 2008. Additionally, the Company has contracted with iSuppli for additional consulting services in the amount of approximately $280,000 payable in the Company's 2009 fiscal year.

Certain Relationships and Related Transactions



        The Company paid expenses in the amount of $150,000 in fiscal year 2007 for consulting services related to semiconductor market activities provided to the Company
by iSuppli Corporation, whose President and CEO is Derek Lidow, son of Eric Lidow, who was Chairman of the Board through May 1, 2008. Additionally, the Company has contracted with iSuppli for
additional consulting services in the amount of approximately $280,000 payable in the Company's 2009 fiscal year.



This excerpt taken from the IRF DEF 14A filed Oct 18, 2006.

Certain Relationships and Related Transactions

For the fiscal year ended July 2, 2006, the Company incurred expenses in the amount of $270,188 for consulting services on semi-conductor market activities to the Company by iSuppli Corporation, whose President and CEO is Derek Lidow, son of Eric Lidow, Chairman of the Board.

This excerpt taken from the IRF DEF 14A filed Oct 18, 2005.
Certain Relationships and Related Transactions

The Company holds as a strategic investment common stock of Nihon Inter Electronics Corporation (“Nihon”), a related party. At June 30, 2005, the Company owned approximately 17.5 percent of the outstanding shares of Nihon. The Company’s Chief Financial Officer was the Chairman of the Board and a director of Nihon through June 28, 2005. In addition, the general manager of the Company’s Japan subsidiary is a director of Nihon. Although the Company has representation on the Board of Directors of Nihon, it does not exercise significant influence, and accordingly, the Company records its interest in Nihon based on readily determinable market values in accordance with SFAS No. 115. The activities and compensation of the Chief Financial Officer’s responsibilities at Nihon are described in a Consulting Services Agreement between the Company and Nihon, dated April 1, 2004 which expired on March 31, 2005. (See also Footnote 3 of the Summary Compensation Table on page 12.)

In June 2002, the Company entered into agreements to license certain technology to Nihon and to contract Nihon to manufacture certain products. The estimated value of the licensing and manufacturing agreements are $5.4 million and $2.0 million, respectively, of which $3.3 million and $2.5 million was recognized as revenue for fiscal year 2004 and 2003, respectively. No revenue was recognized under these agreements for fiscal year 2005.

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