An electrically erasable programmable read only memory (EEPROM) comprises a stacked dielectric tunnel oxide region formed between a write transistor and a sense transistor. The tunnel oxide region permits electron tunneling from a floating gate electrode of a sense transistor to the write transistor. The tunnel oxide region includes a first region that has a single dielectric layer optimized for data retention requirements. The tunnel oxide region also includes a second region having a stacked structure optimized for programming speed and comprising a relatively thin first dielectric layer and a second high-K dielectric layer formed thereon.