Exhibit 10.2

EXECUTION COPY

SUPPLEMENTAL CONFIRMATION

 

To:   

Semtech Corporation

200 Flynn Road

Camarillo, California 93012-8790

From:    Goldman, Sachs & Co. Subject:    Collared Accelerated Stock Buyback
Ref. No:    SDB1625780862 Date:    May 30, 2007

 

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The purpose of this Supplemental Confirmation is to confirm the terms and
conditions of the Transaction entered into between Goldman, Sachs & Co.
(“GS&Co.”) and Semtech Corporation (“Counterparty” and, together with GS&Co.,
the “Contracting Parties”) on the Trade Date specified below. This Supplemental
Confirmation is a binding contract between GS&Co. and Counterparty as of the
relevant Trade Date for the Transaction referenced below.

1. This Supplemental Confirmation supplements, forms part of, and is subject to
the Master Confirmation dated as of May 30, 2007 (the “Master Confirmation”)
between the Contracting Parties, as amended and supplemented from time to time.
All provisions contained in the Master Confirmation govern this Supplemental
Confirmation except as expressly modified below.

2. The terms of the Transaction to which this Supplemental Confirmation relates
are as follows:

 

Trade Date:    May 30, 2007 Number of Shares:    9,836,066 Initial Share Price:
   USD15.25 per Share. Initial Purchase Price:    USD150,000,006.50 Hedge Period
Completion Date:    As set forth in the Trade Notification, but in no event
later than July 6, 2007 Scheduled Valuation Date:    July 7, 2008 First
Acceleration Date:    October 8, 2007 (or if such date is not a Scheduled
Trading Day, the next following Scheduled Trading Day). Settlement Price
Adjustment Amount:    USD *** per Share Cap Price:    As set forth in the Trade
Notification, an amount equal to *** % of the Hedge Period Reference Price.
Floor Price:    As set forth in the Trade Notification, an amount equal to *** %
of the Hedge Period Reference Price.

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*** Information has been omitted and filed separately with the Commission.
Confidential treatment has been requested with respect to the omitted portions.

 

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Collared Percentage:    33% Termination Price:    USD *** per Share Counterparty
Additional Payment Amount:    USD0.00 Ordinary Dividend Amount:    USD0.00

3. Counterparty represents and warrants to GS&Co. that neither it nor any
“affiliated purchaser” (as defined in Rule 10b-18 under the Exchange Act) has
made any purchases of blocks pursuant to the proviso in Rule 10b-18(b)(4) under
the Exchange Act during the four full calendar weeks immediately preceding the
Trade Date.

4. This Supplemental Confirmation may be executed in any number of counterparts,
all of which shall constitute one and the same instrument, and any party hereto
may execute this Supplemental Confirmation by signing and delivering one or more
counterparts.

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*** Information has been omitted and filed separately with the Commission.
Confidential treatment has been requested with respect to the omitted portions.

 

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Counterparty hereby agrees (a) to check this Supplemental Confirmation carefully
and immediately upon receipt so that errors or discrepancies can be promptly
identified and rectified and (b) to confirm that the foregoing (in the exact
form provided by GS&Co.) correctly sets forth the terms of the agreement between
GS&Co. and Counterparty with respect to this Transaction, by manually signing
this Supplemental Confirmation or this page hereof as evidence of agreement to
such terms and providing the other information requested herein and immediately
returning an executed copy to Equity Derivatives Documentation Department,
facsimile No. 212-428-1980/83.

 

Yours sincerely, GOLDMAN, SACHS & CO. By:  

/s/ Debra Tageldein

  Authorized Signatory

 

Agreed and Accepted By: SEMTECH CORPORATION By:  

/s/ Emeka Chukwu

Name:   Emeka Chukwu Title:   Chief Financial Officer

 

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