x
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ANNUAL
REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT
OF 1934
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¨
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TRANSITION
REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF
1934
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PAGE
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Report
of Independent Registered Public Accounting Firm
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3
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Financial
Statements:
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Statements
of Net Assets Available for Benefits (Modified Cash Basis) as
of December 31, 2008 and 2009
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4
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Statements
of Changes in Net Assets Available for Benefits (Modified Cash Basis) for
the years ended December 31, 2008 and 2009
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5
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Notes
to Financial Statements (Modified Cash Basis)
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6
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Supplemental
Schedule:
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Schedule
H, Line 4i – Schedule of Assets (Held at End of Year) (Modified Cash
Basis) as of December 31, 2009
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12
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Signatures
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13
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Exhibits
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14
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/s/
Kronick Kalada Berdy & Co., P.C.
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Kingston,
Pennsylvania
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June
29, 2010
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2008
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2009
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|||||||
Assets:
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||||||||
Investments,
at fair value:
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||||||||
Mutual
funds
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$ | 34,518,233 | $ | 33,595,978 | ||||
Common
commingled trusts
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10,634,285 | |||||||
Kulicke
and Soffa Industries, Inc. common stock
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2,684,078 | 6,463,791 | ||||||
Self
directed brokerage accounts
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518,297 | 670,106 | ||||||
Participant
loans
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257,976 | 668,152 | ||||||
Total
investments
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37,978,584 | 52,032,312 | ||||||
Adjustment
from fair value to contract value for fully benefit-responsive investment
contracts
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- | 305,267 | ||||||
Net
assets available for benefits
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$ | 37,978,584 | $ | 52,337,579 |
2008
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2009
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|||||||
ADDITIONS:
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||||||||
Investment
income:
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||||||||
Interest
and dividends
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$ | 1,274,325 | $ | 306,967 | ||||
Net
appreciation on fair value of investments
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- | 13,555,687 | ||||||
1,274,325 | 13,862,654 | |||||||
Contributions:
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||||||||
Employer
non-cash (common stock)
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1,153,789 | 869,124 | ||||||
Qualified
non-elective contribution
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- | 886 | ||||||
Employer
cash (one timer pension rollover)
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113,268 | - | ||||||
Employee
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2,253,752 | 1,664,335 | ||||||
Rollover
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52,868 | |||||||
3,520,809 | 2,587,213 | |||||||
Total
additions
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4,795,134 | 16,449,867 | ||||||
DEDUCTIONS:
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||||||||
Net
depreciation on fair value of investments
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24,260,782 | - | ||||||
Benefit
payments
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4,264,315 | 14,541,015 | ||||||
Administrative
and other fees
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88,495 | 60,119 | ||||||
Total
deductions
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28,613,592 | 14,601,134 | ||||||
INCREASE
(DECREASE) IN NET ASSETS AVAILABLE FOR BENEFITS, PRIOR TO
TRANSFER
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(23,818,458 | ) | 1,848,733 | |||||
Transfer
from Orthodyne
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- | 12,510,262 | ||||||
NET
INCREASE (DECREASE) IN NET ASSETS AVAILABLE FOR BENEFITS
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(23,818,458 | ) | 14,358,995 | |||||
Net
assets available for benefits:
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||||||||
Beginning
of year
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61,797,042 | 37,978,584 | ||||||
End
of year
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$ | 37,978,584 | $ | 52,337,579 |
1.
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DESCRIPTION
OF THE PLAN
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2.
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SUMMARY
OF ACCOUNTING POLICIES
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3.
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INVESTMENTS
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Level 1
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Unadjusted
quoted prices in active markets that are accessible at the measurement
date for identical, unrestricted assets or
liabilities;
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Level 2
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Quoted
prices in markets that are not considered to be active or financial
instruments for which all significant inputs are observable, excluding
those included in Level 1, either directly or
indirectly;
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Level 3
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Prices
or valuations that require inputs that are both significant to the fair
value measurement and unobservable.
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Fair Value Of Investments as of December 31, 2008
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||||||||||||||||
Level 1
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Level 2
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Level 3
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Total
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|||||||||||||
Mutual
funds
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$ | 34,518,233 | $ | 34,518,233 | ||||||||||||
Kulicke
and Soffa Industries, Inc. common stock
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2,684,078 | 2,684,078 | ||||||||||||||
Self
directed brokerage accounts
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518,297 | 518,297 | ||||||||||||||
Loans
to participants
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$ | 257,976 | 257,976 | |||||||||||||
Total
investment assets at fair value
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$ | 37,720,608 | $ | - | $ | 257,976 | $ | 37,978,584 |
Fair Value Of Investments as of December 31, 2009
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||||||||||||||||
Level 1
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Level 2
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Level 3
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Total
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|||||||||||||
Mutual
funds:
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||||||||||||||||
Growth
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$ | 13,286,259 | $ | 13,286,259 | ||||||||||||
Blended
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8,170,053 | 8,170,053 | ||||||||||||||
Fixed
Income
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4,452,585 | 4,452,585 | ||||||||||||||
Index
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4,143,804 | 4,143,804 | ||||||||||||||
International
Growth
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3,543,277 | 3,543,277 | ||||||||||||||
Common
commingled trusts
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$ | 10,634,285 | 10,634,285 | |||||||||||||
Kulicke
and Soffa Industries, Inc. common stock
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6,463,791 | 6,463,791 | ||||||||||||||
Self
directed brokerage accounts
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670,106 | 670,106 | ||||||||||||||
Loans
to partcipants
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$ | 668,152 | 668,152 | |||||||||||||
Total
investment assets at fair value
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$ | 40,729,875 | $ | 10,634,285 | $ | 668,152 | $ | 52,032,312 |
Level 3 Investment
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||||||||
Participant Loans
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||||||||
2008
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2009
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|||||||
Balance,
beginning of the year
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$ | 262,065 | $ | 257,976 | ||||
Disbursements/(repayments),
net
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(4,089 | ) | 410,176 | |||||
Balance,
end of year
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$ | 257,976 | $ | 668,152 |
2008
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2009
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|||||||
American
Century Investments - Growth
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* | $ | 11,322,136 | |||||
JP
Morgan Stable Asset Income Fund
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* | 7,133,332 | ||||||
Kulicke
and Soffa Industries, Inc. common stock
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$ | 2,684,078 | 6,463,791 | |||||
PIMCO
Total Return
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* | 4,292,652 | ||||||
Wells
Fargo Advantage 2020
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* | 4,118,533 | ||||||
American
Funds - Euro Pacific Growth Funds
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* | 3,543,277 | ||||||
State
Street Global Advisors - S&P 500 (R) Index Fund
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* | 3,500,953 | ||||||
Fidelity
Growth Companies Fund
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8,595,175 | * | ||||||
Fidelity
Retirement Money Market Portfolio
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6,079,176 | * | ||||||
Spartan
U.S. Equity Index Fund
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2,956,368 | * | ||||||
Fidelity
Puritan Fund
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2,730,425 | * | ||||||
Fidelity
Ginnie Mae Fund
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2,075,824 | * | ||||||
Fidelity
Diversified International
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1,929,058 | * |
2008
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2009
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|||||||
Mutual
funds
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$ | (18,212,515 | ) | $ | 7,331,001 | |||
Common
commingled trusts (Note 2)
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- | 102,390 | ||||||
Kulicke
and Soffa Industries, Inc. common stock
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(6,048,267 | ) | 6,122,296 | |||||
$ | (24,260,782 | ) | $ | 13,555,687 |
4.
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RECONCILIATION
OF NET ASSETS AVAILABLE FOR
BENEFITS
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2009
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||||
Net
assets available for benefits per the financial statements
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$ | 52,337,579 | ||
Adjustment
from fair value to contract value for fully benefit-responsive investment
contracts
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(305,267 | ) | ||
Net
assets available for benefits per the Form 5500
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$ | 52,032,312 |
5.
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PARTICIPANT
LOANS
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6.
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PLAN
TERMINATION
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7.
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TAX
STATUS
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8.
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FORFEITURES
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9.
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RELATED
PARTIES
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10.
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RISKS
AND UNCERTAINTIES
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(a)
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(b)
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(c)
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(d)
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(e)
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|||||||||
Identity of Issue
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Description of Investment
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Cost
**
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Current Value
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% Of Assets
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American
Century Investments
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American
Century Investments - Growth - Inst
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$ | 11,322,136 | 21.76 | % | ||||||||
*
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JP
Morgan
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JP
Morgan Stable Asset Income Fund
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7,133,332 | 13.71 | % | ||||||||
*
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Kulicke
and Soffa Industries Inc
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Kulicke
and Soffa Industries, Inc. Common Stock
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6,463,791 | 12.42 | % | ||||||||
PIMCO
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PIMCO
Funds - PIMCO Total Return
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4,292,652 | 8.25 | % | |||||||||
Wells
Fargo
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Wells
Fargo Advantage - Target 2020
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4,118,533 | 7.92 | % | |||||||||
American
Funds
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American
Funds - Europacific Growth Fund
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3,543,277 | 6.81 | % | |||||||||
State
Street Global Advisors
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State
Street Global Advisors - S&P 500 (R) Index
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3,500,953 | 6.73 | % | |||||||||
Wells
Fargo
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Wells
Fargo Advantage - Target 2050
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2,405,818 | 4.62 | % | |||||||||
Artisan
Funds
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Artisan
Funds - Mid Cap Value Fund
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1,757,293 | 3.38 | % | |||||||||
Eaton
Vance
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Eaton
Vance - Large Cap Value Fund A
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1,369,018 | 2.63 | % | |||||||||
Prudential
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Prudential
- Jennison Mid Cap Growth Fund CL Z
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1,245,867 | 2.39 | % | |||||||||
Invesco
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Invesco
AIM - AIM Small Cap Equity Fund
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780,569 | 1.50 | % | |||||||||
Self
Directed Brokerage Account
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CISC
Self Directed Brokerage Account
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670,106 | 1.29 | % | |||||||||
Wells
Fargo
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Wells
Fargo Advantage - Target Today
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516,171 | 0.99 | % | |||||||||
Wells
Fargo
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Wells
Fargo Advantage - Target 2040
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377,538 | 0.73 | % | |||||||||
Wells
Fargo
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Wells
Fargo Advantage - Target 2015
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308,753 | 0.59 | % | |||||||||
Vanguard
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Vanguard
- Small-Cap Index Fund
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290,761 | 0.56 | % | |||||||||
Fidelity
Investments
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Fidelity
- Spartan International Index Fund
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200,240 | 0.38 | % | |||||||||
Wells
Fargo
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Wells
Fargo Advantage - Target 2030
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161,040 | 0.31 | % | |||||||||
Vanguard
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Vanguard
- Total Bond Market Index
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159,933 | 0.31 | % | |||||||||
Vanguard
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Vanguard
- Mid-Cap Index Fund
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151,849 | 0.29 | % | |||||||||
Wells
Fargo
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Wells
Fargo Advantage - Target 2035
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136,435 | 0.26 | % | |||||||||
Van
Kampen
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Van
Kampen Funds - Small Cap Value Fund A
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124,503 | 0.24 | % | |||||||||
Wells
Fargo
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Wells
Fargo Advantage - Target 2025
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123,886 | 0.24 | % | |||||||||
Fidelity
Investments
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Fidelity
- Fidelity Adv Small Cap
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112,323 | 0.22 | % | |||||||||
American
Funds
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American
Funds - New Perspective Fund
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49,608 | 0.10 | % | |||||||||
Wells
Fargo
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Wells
Fargo Advantage - Target 2010
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19,495 | 0.04 | % | |||||||||
GE
Mutual Funds
|
GE
Mutual Funds - International Equity Fund
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15,610 | 0.03 | % | |||||||||
Pricipal
Funds
|
Principal
Funds - Mid Cap Blend
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10,285 | 0.02 | % | |||||||||
Wells
Fargo
|
Wells
Fargo Advantage - Target 2045
|
2,385 | 0.00 | % | |||||||||
*
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Participant
Loans
|
Interest
rates from (3.25% to 9.25%), maturity dates vary through 2030, secured by
account balances
|
668,152 | 1.28 | % | ||||||||
$ | 52,032,312 | 100.00 | % |
Date:
June 29, 2010
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By:
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/s/ David J. Anderson
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David J. Anderson | ||
Chairman, Kulicke and Soffa Industries, Inc. | ||
Plan Administrator Committee |
Exhibit Number
|
Description
|
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23.1
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Consent
of Independent Registered Public Accounting
Firm
|