Document:

exv4w1

Exhibit 4.1

 

  

TRANSACTION AGREEMENT

between

SCHNEIDER ELECTRIC, S.A.

SCHNEIDER ELECTRIC ESPAÑA, S.A.U.

and

TELVENT GIT, S.A.

Dated as of May 31, 2011

 

  

 

 

Table of Contents

	 	 	 	 	 
	 	 	Page	 
	P A R T I E S: 1 
	 	 		 
	ARTICLE I THE OFFER
	 	 	3	 
	Section 1.1 The Offer
	 	 	3	 
	Section 1.2 Company Actions
	 	 	6	 
	Section 1.3 Company Board
	 	 	8	 
	ARTICLE II REPRESENTATIONS AND WARRANTIES OF THE COMPANY
	 	 	8	 
	Section 2.1 Organization and Qualification
	 	 	9	 
	Section 2.2 Authority; Consents and Approvals
	 	 	9	 
	Section 2.3 Noncontravention
	 	 	10	 
	Section 2.4 Capitalization
	 	 	10	 
	Section 2.5 Company SEC Documents
	 	 	11	 
	Section 2.6 No Undisclosed Material Liabilities
	 	 	13	 
	Section 2.7 Information Supplied
	 	 	13	 
	Section 2.8 Absence of Certain Changes
	 	 	14	 
	Section 2.9 Certain Joint Venture
	 	 	14	 
	Section 2.10 Compliance with Law
	 	 	15	 
	Section 2.11 Foreign Assets Control Regulation; FCPA
	 	 	15	 
	Section 2.12 Transaction with Affiliates
	 	 	16	 
	Section 2.13 Opinion of Financial Advisor
	 	 	17	 
	Section 2.14 Finders’ Fees
	 	 	17	 
	Section 2.15 No Other Representations or Warranties
	 	 	17	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES OF PARENT AND PURCHASER
	 	 	17	 
	Section 3.1 Organization; Standing
	 	 	18	 
	Section 3.2 Authority; Consents and Approvals
	 	 	18	 
	Section 3.3 Noncontravention
	 	 	19	 
	Section 3.4 Sufficient Funds
	 	 	19	 
	Section 3.5 Information Supplied
	 	 	19	 

i

 

Table of Contents
 (continued)

	 	 	 	 	 
	 	 	Page	 
	ARTICLE IV ADDITIONAL COVENANTS AND AGREEMENTS
	 	 	20	 
	Section 4.1 Conduct of Business
	 	 	20	 
	Section 4.2 No Solicitation
	 	 	21	 
	Section 4.3 Reasonable Best Efforts
	 	 	25	 
	Section 4.4 Public Announcements
	 	 	27	 
	Section 4.5 Access to Information; Confidentiality
	 	 	28	 
	Section 4.6 Rule 14d-10(d)
	 	 	28	 
	Section 4.7 Convertible Notes
	 	 	28	 
	Section 4.8 Notification of Certain Matters, Stockholder Litigation
	 	 	30	 
	Section 4.9 Other Indebtedness and Obligations
	 	 	31	 
	Section 4.10 Officer and Director Indemnification
	 	 	31	 
	Section 4.11 Parent Guarantee
	 	 	34	 
	Section 4.12 Employee Matters
	 	 	34	 
	Section 4.13 Minority Shareholder Protections
	 	 	35	 
	Section 4.14 Equity Plan
	 	 	36	 
	ARTICLE V TERMINATION
	 	 	36	 
	Section 5.1 Termination
	 	 	36	 
	Section 5.2 Effect of Termination
	 	 	38	 
	ARTICLE VI MISCELLANEOUS
	 	 	39	 
	Section 6.1 Fees and Expenses
	 	 	39	 
	Section 6.2 Survival
	 	 	39	 
	Section 6.3 Amendment or Supplement
	 	 	39	 
	Section 6.4 Extension of Time, Waiver, Etc.
	 	 	39	 
	Section 6.5 Assignment
	 	 	39	 
	Section 6.6 Counterparts
	 	 	40	 
	Section 6.7 Entire Agreement; No Third-Party Beneficiaries
	 	 	40	 
	Section 6.8 Governing Law
	 	 	40	 
	Section 6.9 Arbitration
	 	 	40	 
	Section 6.10 Specific Enforcement
	 	 	41	 

ii

 

Table of Contents
 (continued)

	 	 	 	 	 
	 	 	Page	 
	Section 6.11 Notices
	 	 	41	 
	Section 6.12 Severability
	 	 	42	 
	Section 6.13 Definitions
	 	 	42	 
	Section 6.14 Interpretation
	 	 	50	 

Annex A Offer Conditions

iii

 

TRANSACTION AGREEMENT

As of May 31, 2011

P A R T I E S:

Of the one part,

SCHNEIDER ELECTRIC, S.A., a société anonyme organized under the laws of the Republic of France with
its registered office at 35, rue Joseph Monier, 92500 Rueil-Malmaison, France, registered in the
Commercial and Companies Registry of Nanterre under number 542 048 574 (“Parent”), duly
represented herein by Emmanuel Babeau;

SCHNEIDER ELECTRIC ESPAÑA, S.A.U., a sociedad anónima unipersonal organized under the laws of the
Kingdom of Spain and an indirect wholly owned subsidiary of Parent, with its corporate domicile at
Barcelona, at C/Bac de Roda, n° 52, edificio A, registered with the Companies’ registry of
Barcelona in Tomo 23.584, Folio 124, Sección 8a, Hojo B-57.594, and having C.I.F.
A-08008450 (“Purchaser”), duly represented herein by Elena González-Anta;

And of the other part,

TELVENT GIT, S.A., a sociedad anónima organized under the laws of the Kingdom of Spain, with its
corporate domicile at Alcobendas (Madrid), and registered with the Commercial Registry of Madrid
under Tomo 15.370, Folio 164, Hoja M-257879, and having C.I.F. A-82631623 (the “Company”),
duly represented herein by Ignacio González Domínguez.

R E C I T A L S:

     WHEREAS, pursuant to this Transaction Agreement (the “Agreement”), Purchaser has
agreed to commence a tender offer (as it may be amended from time to time as permitted under this
Agreement, the “Offer”) to purchase all of the authorized and issued ordinary shares,
€3.00505 nominal par value per share, of the Company (the “Shares”), at a price per Share
of U.S. $40.00 (such amount or, if the Offer is amended in accordance with the terms of this
Agreement and a higher amount per share is paid pursuant to the Offer, such higher amount, the
“Offer Price”), net to the seller in cash, without interest, on the terms and subject to
the conditions set forth in this Agreement;

 

 

     WHEREAS, the board of directors of the Company (the “Company Board”, which shall
include any duly constituted committee thereof) has approved this Agreement and the Offer and
resolved to recommend that the holders of Shares (the “Company Shareholders”) accept the
Offer and tender their Shares to Purchaser;

     WHEREAS, the respective boards of directors of the Parent and Purchaser have unanimously, on
the terms and subject to the conditions set forth herein, approved and declared advisable this
Agreement and the Offer;

     WHEREAS, concurrently with the execution and delivery of this Agreement, and as a condition
and inducement to Parent’s and Purchaser’s willingness to enter into this Agreement, ABENGOA, S.A.,
a sociedad anónima organized under the laws of the Kingdom of Spain (“Abengoa”), and
certain wholly owned subsidiaries of Abengoa, are entering into an Irrevocable Undertaking
Agreement with Parent (the “Abengoa Irrevocable Undertaking Agreement”), whereby Abengoa
and each of its Subsidiaries party thereto has agreed, among other things, upon the terms and
conditions set forth therein, to tender their Shares in the Offer and support any and all corporate
action necessary to consummate the transactions contemplated by this Agreement, including the
Offer;

     WHEREAS, following the consummation of the Offer, Purchaser intends to request the calling of
a general shareholders’ meeting to approve (i) a share capital reduction of the Company
through the redemption of all of the Shares not then owned by the Purchaser or its Affiliates at
the Offer Price, following the procedure established in the Spanish company law (in particular
articles 293 and 329 of the “Ley de Sociedades de Capital”) (such approval, the “Redemption
Shareholder Approval”) and (ii) if Purchaser acquires 70% or more of the authorized and
issued Shares, the voluntary de-listing of the Shares from The NASDAQ Global Select Market
(“NASDAQ”);

     WHEREAS, concurrently with the execution and delivery of this Agreement, and as a condition
and inducement to Parent’s and Purchaser’s willingness to enter into this Agreement, a member of
senior management of the Company and a member of senior management of Abengoa are entering into an
Irrevocable Undertaking Agreement with Parent (the “Management Irrevocable Undertaking
Agreement,” and together with the Abengoa Irrevocable Undertaking Agreement, the
“Irrevocable Undertaking Agreements”), whereby each of such Persons has agreed, among other
things, upon the terms and conditions set forth therein, to tender its Shares in the Offer and, to
the extent consistent with such Person’s fiduciary duties as officers of the Company under
applicable Law, to support any and all corporate action necessary to consummate the transactions
contemplated by this Agreement, including the Offer; and

     WHEREAS, the parties to this Agreement desire to make certain representations, warranties,
covenants and agreements in connection with the Offer and the other

2

 

transactions contemplated by this Agreement and also to prescribe certain procedures for and
conditions to the Offer;

     NOW, THEREFORE, in consideration of the mutual covenants and premises contained in this
Agreement and for other good and valuable consideration, the receipt and adequacy of which are
hereby acknowledged, the parties to this Agreement agree as follows:

ARTICLE I

THE OFFER

     Section 1.1 The Offer.

     (a) Provided that this Agreement shall not have been terminated in accordance with Article
V, Purchaser shall, and Parent shall cause Purchaser to, commence (within the meaning of Rule
14d-2 under the U.S. Securities Exchange Act of 1934, as amended (together with its rules and
regulations, the “Exchange Act”)), the Offer, as promptly as reasonably practicable (and,
so long as the Company is in compliance with its obligations to provide information contained in
the second sentence of Section 1.1(d), within ten (10) Business Days) after the date of
this Agreement; provided, however, if the Company is not ready to file the Schedule
14D-9 on the same date as the commencement of the Offer, then such deadline shall automatically be
extended until such date as the Company is ready to file the Schedule 14D-9. Purchaser shall give
the Company three (3) Business Days notice of the expected commencement date.

     (b) The obligation of Purchaser to accept for payment and pay for any Shares validly tendered
and not validly withdrawn pursuant to the Offer shall be subject to (i) there being validly
tendered in the Offer, and not validly withdrawn prior to any then-scheduled Expiration Time, that
number of Shares which represents at least forty percent (40%) of the total number of Shares
authorized and issued on the date hereof (the “Minimum Condition”); and (ii) the
satisfaction, or waiver by Parent or Purchaser, in their sole discretion, of the conditions or
requirements set forth in Annex A attached hereto (together with the Minimum Condition, the
“Offer Conditions”), other than the Minimum Condition. The Offer Price payable in respect
of each Share validly tendered and not validly withdrawn pursuant to the Offer shall be paid net to
the seller in cash, without interest, on the terms and subject to the conditions set forth in this
Agreement.

     (c) The Offer shall be made by means of an offer to purchase (the “Offer to Purchase”)
that describes the terms and conditions of the Offer as set forth in this Agreement, including the
Offer Conditions. Parent and Purchaser expressly reserve the right (in their sole discretion) to
waive, in whole or in part, any Offer Condition or to increase the Offer Price; provided,
however, that, unless otherwise provided by this Agreement, without the prior written
consent of the Company, Purchaser shall not

3

 

(i) decrease the Offer Price or change the form of consideration payable in the Offer,
(ii) decrease the number of Shares subject to the Offer, (iii) add to the
conditions set forth on Annex A, (iv) amend or modify any Offer Condition in a
manner that is adverse to the Company Shareholders, (v) waive or amend the Minimum
Condition, (vi) except as otherwise provided in this Section 1.1, extend or
otherwise change the expiration date of the Offer or (vii) otherwise amend, modify or
supplement the terms of the Offer in a manner that is adverse to the Company Shareholders;
provided that, notwithstanding the foregoing, Purchaser expressly reserves the right
(exercisable in its sole discretion) to increase the Offer Price or to waive any of the Offer
Conditions, other than the Minimum Condition.

     (d) Purchaser shall file with the U.S. Securities and Exchange Commission (the “SEC”)
a Tender Offer Statement on Schedule TO with respect to the Offer (together with all amendments,
supplements and exhibits thereto, the “Schedule TO”) on the date that the Offer is
commenced, which Schedule TO shall include, as exhibits, the Offer to Purchase, form of transmittal
letter and form of notice of guaranteed delivery (such Schedule TO, including all such exhibits,
together with any supplements or amendments thereto, the “Offer Documents”) and, subject to
the Company’s compliance with Section 1.2(b), cause the Offer Documents to be disseminated
to the Company Shareholders in accordance with the applicable requirements of the Exchange Act.
The Company shall promptly furnish to Parent and Purchaser all information concerning the Company
that is required by the Exchange Act to be set forth in the Offer Documents or that is otherwise
reasonably requested by Parent or Purchaser for inclusion in the Offer Documents or in connection
with the obligations relating to the Offer Documents contained in this Section 1.1(d).
Parent and Purchaser shall take all steps necessary to cause the Offer Documents to be filed with
the SEC and disseminated to the Company Shareholders, in each case as and to the extent required by
applicable Law. Parent and Purchaser, on the one hand, agree to amend the Offer Documents and the
Company, on the other hand, agrees to promptly correct any information provided by it for use in
the Offer Documents, if and to the extent such information shall have become false or misleading in
any material respect or as otherwise required by applicable Law. Parent and Purchaser further
agree to take all steps necessary to cause the Offer Documents, as so amended (if applicable), to
be filed with the SEC and disseminated to the Company Shareholders, in each case as and to the
extent required by applicable Law. Prior to the filing of the Offer Documents (including any
amendments or supplements thereto) with the SEC or dissemination thereof to the Company
Shareholders, the Company and its counsel shall be given a reasonable opportunity to review and
comment on such Offer Documents, and Parent and Purchaser shall give reasonable consideration to
any such comments. Parent and Purchaser shall promptly notify the Company upon the receipt of any
comments from the SEC, or any request from the SEC for amendments or supplements, to the Offer
Documents, and shall promptly provide the Company with copies of all correspondence between them
and their representatives, on the one hand, and the SEC, on the other hand, and shall give the
Company and its counsel a reasonable opportunity to participate in the

4

 

response of Parent and Purchaser to those comments and to provide comments on any response,
and Parent and Purchaser shall give reasonable consideration to any such comments. Prior to
responding to any comments of the SEC with respect to the Offer Documents, Parent and Purchaser
shall provide the Company and its counsel a reasonable opportunity to review and comment on such
response, and Parent and Purchaser shall give reasonable consideration to any such comments.

     (e) Subject to the terms and conditions set forth in the Offer Documents, the Offer shall
remain open until midnight, New York City time, on the date that is twenty (20) Business Days (as
defined in Rule 14d-1 under the Exchange Act) following the commencement (within the meaning of
Rule 14d-2 under the Exchange Act) of the Offer (the “Initial Expiration Time”) or, in the
event the Initial Expiration Time has been extended pursuant to this Agreement, the date and time
to which the Offer has been so extended (the Initial Expiration Time, or such later date and time
to which the Initial Expiration Time has been extended pursuant to this Agreement, is referred to
as the “Expiration Time”). Notwithstanding anything in this Agreement to the contrary, but
subject to the parties’ respective rights to terminate this Agreement under Article V, if
applicable, (i) Purchaser may, in its sole discretion, without the consent of the Company,
extend the Offer on one or more occasions if on any then-scheduled Expiration Time any of the Offer
Conditions shall not be satisfied or, as permitted by this Agreement, waived, until such time as
such condition or conditions are satisfied or so waived, (ii) Purchaser shall extend the
Offer for any period required by applicable Law, any interpretation or position of the SEC, the
staff thereof or NASDAQ applicable to the Offer, (iii) in the event that any of the Offer
Conditions (other than the Minimum Condition) shall have not been satisfied or, as permitted by
this Agreement, waived as of any then-scheduled Expiration Time, then Purchaser, at the request of
the Company, shall extend the Offer for a period reasonably requested by the Company and
(iv) in the event that the Minimum Condition shall not have been satisfied as of the
then-scheduled Expiration Time and all of the other conditions to the Offer set forth in Annex
A shall have been satisfied as of such Expiration Time, then, at the request of the Company,
Parent shall cause Purchaser to extend the Offer for one extension period of up to twenty (20)
Business Days, the length of such period to be determined by the Company in its sole discretion;
provided, however, that in no event shall Purchaser be required or permitted to
extend the Offer beyond December 31, 2011 (the “Outside Date”).

     (f) Subject to the terms and conditions set forth in this Agreement and to satisfaction or
waiver of the Offer Conditions, Purchaser shall, and Parent shall cause Purchaser to, consummate
the Offer and accept for payment and pay for (subject to any withholding of Taxes pursuant to
Section 1.1(h)) all Shares validly tendered and not validly withdrawn pursuant to the Offer
promptly after the Expiration Time (as it may be extended and re-extended in accordance with this
Section 1.1). Acceptance for payment of Shares pursuant to and subject to the Offer
Conditions upon the Expiration Time is referred to in this Agreement as the “Offer
Closing,” and the date on which the Offer

5

 

Closing occurs is referred to in this Agreement as the “Offer Closing Date.” Unless
this Agreement and the Offer are terminated in accordance with Article V prior to the Offer
Closing, Parent shall cause Purchaser to extend the Offer for a “subsequent offering period” of not
less than twenty (20) Business Days, and Purchaser may, at its sole discretion, extend the Offer
for additional “subsequent offering periods” (and one or more extensions thereof), all in
accordance with Rule 14d-11 under the Exchange Act. The Offer Documents shall disclose the initial
“subsequent offering period” and may, in Purchaser’s sole discretion, provide for such a
reservation of right with respect to any additional “subsequent offering periods.” Notwithstanding
the foregoing and subject to applicable rules of the SEC and the terms and conditions of the Offer,
Purchaser expressly reserves the right to delay payment for Shares in order to comply in whole or
in part with applicable Law. Any such delay in payment shall be effected in compliance with Rule
14e-1(c) under the Exchange Act. Nothing contained in this Section 1.1 shall affect any
termination rights in Article V, as to the Agreement, or in Annex A, as to the
Offer.

     (g) Purchaser shall not terminate the Offer prior to any scheduled Expiration Time without the
prior written consent of the Company except in the event that this Agreement is terminated pursuant
to Article V. If the Offer is terminated or withdrawn by Purchaser, or this Agreement is
terminated pursuant to Article V, prior to the acceptance for payment of the Shares
tendered in the Offer, Purchaser shall promptly return, and shall cause any depository acting on
behalf of Purchaser to return, all tendered Shares to the registered holders thereof. This
Agreement may not be terminated by Parent or Purchaser for any reason following acceptance for
payment of the Shares tendered in the Offer but prior to payment for such Shares.

     (h) Parent, Purchaser and any depository acting on behalf of Parent or Purchaser
shall be entitled to deduct and withhold from the consideration otherwise payable pursuant to the
Offer such amounts otherwise payable to any Person pursuant to this Agreement as may be required to
be deducted and withheld with respect to the making of such payment under the Internal Revenue Code
of 1986, as amended (the “Code”), and applicable Treasury Regulations issued pursuant
thereto, or under any provision of any state, local or foreign Tax Law, including applicable
Spanish Tax Law. To the extent amounts are so withheld, such withheld amounts shall be treated for
all purposes of this Agreement as having been paid to the Person in respect of which such deduction
and withholding was made. Any amounts so withheld shall be paid over promptly to the appropriate
taxing authority and Purchaser shall provide prompt written notice to the Persons from whom such
amounts are withheld, specifying the amounts so withheld and the taxing authorities to which the
withheld amounts have been paid.

     Section 1.2 Company Actions.

     (a) So long as Parent and Purchaser are in compliance with their obligations to provide
information contained in this Section 1.2 and Parent and Purchaser have

6

 

provided the Company a reasonable period to review the final version of the Schedule TO to be
filed with the SEC (which period shall be no less than three (3) Business Days), concurrently with
the filing of the Schedule TO with the SEC on the date the Offer is commenced, the Company shall
file with the SEC a Solicitation/ Recommendation Statement on Schedule 14D-9 with respect to the
Offer (together with any amendments, supplements and exhibits thereto, the “Schedule
14D-9”) that shall, except as expressly provided in Section 4.2, contain the
recommendation of the Company Board described in Section 2.2(c) (the “Company
Recommendation”). The Company agrees to take all steps necessary to cause the Schedule 14D-9
to be prepared and filed with the SEC and disseminated to the Company Shareholders, in each case as
and to the extent required by the Exchange Act. Parent and Purchaser shall promptly furnish to the
Company all information concerning Parent and Purchaser that is required by the Exchange Act to be
set forth in the Schedule 14D-9 or that is otherwise reasonably requested by the Company for
inclusion in Schedule 14D-9 or in connection with the obligations relating to Schedule 14D-9
contained in this Section 1.2(a). The Company, on the one hand, agrees to amend the
Schedule 14D-9, and Parent and Purchaser, on the other hand, agree to correct promptly any
information they provided for use in the Schedule 14D-9 if and to the extent that such information
shall have become false or misleading in any material respect or as otherwise required by
applicable Law. The Company further agrees to take all steps necessary to cause as promptly as
practicable the Schedule 14D-9, as so amended (if applicable), to be filed with the SEC and
disseminated to the Company Shareholders, in each case as and to the extent required by applicable
Law. Prior to the filing of the Schedule 14D-9 (including any amendments or supplements thereto)
with the SEC or dissemination thereof to the Company Shareholders, Parent, Purchaser and their
counsel shall be given a reasonable opportunity to review and comment on such Schedule 14D-9, and
the Company shall give reasonable consideration to any such comments. The Company shall promptly
notify Parent and Purchaser upon the receipt of any comments from the SEC, or any request from the
SEC for amendments or supplements, to the Schedule 14D-9, and shall promptly provide Parent and
Purchaser with copies of all correspondence between it and its representatives, on the one hand,
and the SEC, on the other hand, and shall give Parent, Purchaser and their counsel a reasonable
opportunity to participate in the response of the Company to those comments and to provide comments
on any response and the Company shall give reasonable consideration to any such comments. Prior to
responding to any comments of the SEC with respect to the Schedule 14D-9, the Company shall provide
Parent, Purchaser and their counsel a reasonable opportunity to review and comment on such
response, and the Company shall give reasonable consideration to any such comments. The Company
hereby consents to the inclusion in the Offer Documents of the Company Recommendation contained in
the Schedule 14D-9.

     (b) Subject to compliance with all applicable data protection Laws, in connection with the
Offer, at the expense of Parent and Purchaser, the Company shall promptly furnish (or cause to be
furnished) to Parent and Purchaser mailing labels,

7

 

security position listings and any other available listing or computer files containing the
names and addresses of the record holders and/or beneficial owners of the Shares as of the most
recent practicable date, and shall promptly furnish Parent and Purchaser with, or shall cause
Parent and Purchaser to be promptly furnished with, such additional information and assistance
(including lists of record holders and/or beneficial owners of the Shares, updated from time to
time upon Parent’s, Purchaser’s or either of their respective agent’s request, and the addresses,
mailing labels and lists of security positions of such record holders and/or beneficial owners) as
Parent, Purchaser or their respective agents may reasonably request for the purpose of
communicating the Offer (and the Offer Documents, including all amendments and supplements to the
Offer Documents) to the record holders and beneficial owners of the Shares. Parent and Purchaser
shall reimburse the Company promptly for any expense incurred by the Company pursuant to this
Section 1.2(b).

     Section 1.3 Company Board. The Company Board shall use its reasonable efforts to
promptly take, or cause to be taken, all actions, and do, or cause to be done, all things,
necessary, proper or advisable (a) to co-opt a total of four (4) individuals designated by
the Purchaser as directors of the Company to fill the vacancies on the Board caused by the
resignation of four (4) of the directors of the Company pursuant to the Offer Closing Resignation
Letters, which co-option would be subject to, and only take effect promptly following, the Offer
Closing and the payment for all Shares validly tendered and not withdrawn in the Offer as of the
Offer Closing, (b) thereafter, and promptly following the date on which Parent and
Purchaser beneficially own in the aggregate a majority of the issued and outstanding Shares, to
co-opt a total of three (3) additional individuals designated by the Purchaser as directors of the
Company to fill the vacancies on the Board caused by the resignation of three (3) additional
directors of the Company pursuant to the Other Resignation Letters, and (c) thereafter, to
call a General Shareholders’ Meeting of the Company, to be held not later than sixty (60) days
following the request of Parent or Purchaser, to ratify the co-option of such new directors (such
ratification, the “Director Ratification”) and resolve upon other matters requested by
Parent or Purchaser. Notwithstanding anything in this Section 1.3 to the contrary, the
Company Board shall have no obligation to take any action regarding any individual designated by
Purchaser as a director unless such individual satisfies all applicable qualifications to be
appointed as a director through a co-opt procedure under Spanish Law and the Organizational
Documents of the Company, including that such individual be a Company Shareholder.

ARTICLE II

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

     Except as disclosed in any Company SEC Documents (as hereinafter defined) filed with, or
furnished to, the SEC on or prior to the date hereof (other than disclosures

8

 

in such Company SEC Documents contained in the “Risk Factors” and “Forward-Looking Statements”
sections thereof or any other disclosures therein which are forward-looking in nature) or as
disclosed in the disclosure letter delivered by the Company to Parent (the “Company Disclosure
Letter”) simultaneously with the execution of this Agreement (it being acknowledged and agreed
by the parties that disclosure in such Company SEC Document or any section or subsection of such
Company Disclosure Letter shall be deemed to be disclosed for all sections or subsections of this
Agreement only to the extent that the applicability of such disclosure to such section or
subsection is reasonably apparent from such disclosure), the Company hereby represents and warrants
to Parent and Purchaser as follows:

     Section 2.1 Organization and Qualification. The Company is a sociedad anónima duly
organized and validly existing under the laws of the Kingdom of Spain and has all requisite
corporate power and authority to carry on its business as now conducted. The Organizational
Documents of the Company as currently in effect have been filed with the Company SEC Documents, and
the Company is in compliance in all material respects with the provisions of such Organizational
Documents.

     Section 2.2 Authority; Consents and Approvals.

     (a) The Company has all requisite corporate (or equivalent organizational) power and authority
to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the
transactions contemplated hereby. The execution and delivery of this Agreement by the Company, the
performance of Company’s obligations hereunder and the consummation of the transactions
contemplated hereby have been duly authorized by all requisite corporate action of the Company.
The Company has duly executed and delivered this Agreement. This Agreement constitutes the legal,
valid and binding obligation of the Company enforceable against the Company in accordance with its
terms, except that such enforceability (i) may be limited by bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and other similar Laws of general application affecting or
relating to the enforcement of creditors’ rights generally and (ii) is subject to general
principles of equity, whether considered in a proceeding at law or in equity (the “Bankruptcy
and Equity Exception”).

     (b) The execution and delivery of this Agreement by the Company, the performance of its
obligations hereunder and the consummation of the transactions contemplated hereby require no
filing or registration with, notification to, or authorization, permit, consent or approval of, or
other action by or in respect of, any Governmental Authority, other than (i) compliance
with any applicable requirements of the HSR Act and the EU Merger Control Regulation, (ii)
such consents, approvals, authorizations, registrations, declarations or filings as may be required
under the other Regulatory Laws set forth in Section 2.2(b)(ii) of the Company Disclosure
Letter, (iii) compliance with the requirements of the Exchange Act, (iv) such
filings with the SEC as may be required on behalf of Purchaser or Parent in connection with this
Agreement and

9

 

the Offer, (v) any actions or filings under Law the absence of which would not,
individually or in the aggregate, result in a Material Adverse Effect.

     (c) The Company Board, at a meeting duly called and held, duly adopted resolutions (i)
approving this Agreement, the Offer and the other transactions contemplated hereby, and
(ii) recommending that the Company Shareholders accept the Offer on the terms and
conditions set forth in this Agreement and tender their Shares pursuant to the Offer on the terms
and conditions set forth in this Agreement, which resolutions, as of the date of this Agreement,
have not been rescinded, modified or withdrawn in any way.

     Section 2.3 Noncontravention. The execution and delivery of this Agreement by the
Company and the performance of its obligations hereunder do not and will not (i) conflict
with or breach any provision of the Organizational Documents of the Company or any of its
Subsidiaries, (ii) assuming compliance with the matters referred to in Section
2.2(b), conflict with or breach any provision of any applicable Law, (iii) require any
consent of or other action by any Person under, constitute a default or an event that, with or
without notice or lapse of time or both, would constitute a default under, or cause or permit
termination, cancellation, acceleration or other change of any right or obligation or the loss of
any benefit under, any provision of any agreement or other instrument not filed as an exhibit to
the Company SEC Documents to which the Company or any of its Subsidiaries is a party or by which
any of their respective properties or assets is bound or any material Company Permit affecting the
assets or business of the Company and its Subsidiaries or (iv) result in the creation or
imposition of any Lien other than Permitted Liens on any Assets, except, in the case of clauses
(ii) through (iv), that would not individually or in the aggregate, result in a Material Adverse
Effect.

     Section 2.4 Capitalization.

     (a) At the close of business on May 31, 2011, 34,094,159 Shares were authorized and issued, of
which 370,962 Shares were held in treasury. All of the issued shares of capital stock of the
Company are duly authorized, validly issued, fully paid and nonassessable. Up to 338,414 of the
Shares held in treasury as set forth in the first sentence of this Section 2.4(a) may be
issued pursuant to the Company’s Extraordinary Variable Compensation Plan (the “Equity
Plan”), and upon the issuance thereof such Shares shall be duly authorized, validly issued,
fully paid and nonassessable.

     (b) Except as set forth in Section 2.4(a) or in Section 2.4(b) of the Company
Disclosure Letter, as of the date hereof, there are no outstanding (i) shares of capital
stock of or other voting or equity interests in the Company, (ii) securities of the Company
other than the Convertible Notes that are convertible into or exercisable or exchangeable for
shares of capital stock of or other voting or equity interests in the Company, (iii)
options or other rights or agreements, commitments, understandings, or other obligation of the

10

 

Company or any of its Subsidiaries to issue, transfer or sell, any shares of capital stock of
or other voting or equity interests in the Company or securities convertible into or
exercisable or exchangeable for shares of capital stock of or other voting or equity interests in
the Company, (iv) voting trusts, proxies or other similar agreements or understandings to
which the Company or any of its Subsidiaries is a party or by which the Company or any of its
Subsidiaries is bound with respect to the voting of any shares of capital stock of or other voting
or equity interests in the Company or (v) contractual obligations or commitments of any
character to which the Company is a party restricting the transfer of, or requiring the
registration for sale of, any shares of capital stock of or other voting or equity interests in the
Company (the items in clauses (i), (ii) and (iii) being referred to collectively as the
“Company Securities”). There are no outstanding obligations of the Company or any of its
Subsidiaries to repurchase, redeem or otherwise acquire any Company Securities.

     (c) Except as set forth in Section 2.4(c) of the Company Disclosure Letter, neither
the Company nor any of its Subsidiaries has outstanding bonds, debentures, notes or, other than as
referred to in this Section 2.4 and Section 2.5, other securities, other than the
Convertible Notes, (i) the holders of which have the right to vote with the Company
Shareholders on any matter or (ii) which are convertible into or exercisable for Company
Securities having the right to vote.

     (d) Except as set forth in Section 2.4(d) of the Company Disclosure Letter, the
Company and its Subsidiaries have no indebtedness for borrowed money.

     Section 2.5 Company SEC Documents.

     (a) The Company has filed with or furnished to the SEC all required reports, statements,
schedules, forms and other documents since January 1, 2008 (such documents collectively, and in
each case including all exhibits and schedules thereto and documents incorporated by reference
therein, together with any documents filed with or furnished to the SEC during such period by the
Company on a voluntary basis, the “Company SEC Documents”). As of their respective
effective dates (in the case of Company SEC Documents that are registration statements filed
pursuant to the Securities Act) and as of their respective dates of filing or furnishing, the
Company SEC Documents complied in all material respects with applicable Law, including applicable
provisions of the Securities Act, the Exchange Act and the Sarbanes-Oxley Act of 2002 (including
its rules and regulations, “SOX”), and none of the Company SEC Documents as of such
respective dates or the respective filing or furnishing dates of amendments contained any untrue
statement of a material fact or omitted to state a material fact required to be stated therein or
necessary in order to make the statements therein, in light of the circumstances under which they
were made, not misleading.

     (b) The audited consolidated financial statements and the unaudited quarterly financial
statements (including, in each case, the notes thereto) of the Company included

11

 

in the Company SEC Documents when filed or furnished complied as to form in all
material respects with the published rules and regulations of the SEC with respect thereto,
have been prepared in accordance with generally accepted accounting principles in the United States
(“GAAP”) (except, in the case of unaudited quarterly statements, as permitted by the rules
and regulations of the SEC) applied in all material respects on a consistent basis during the
periods involved (except as may be indicated in the notes thereto) and fairly present in all
material respects the consolidated financial position of the Company and its consolidated
subsidiaries as of the dates thereof and the consolidated results of their operations and cash
flows for the periods then ended (subject, in the case of unaudited quarterly statements, to normal
year-end adjustments). None of the Subsidiaries of the Company is, or has at any time since
January 1, 2008 been, subject to the reporting requirements of Section 13(a) or 15(d) of the
Exchange Act.

     (c) Each of the principal executive officer of the Company and the principal financial officer
of the Company (or each former principal executive officer of the Company and each former principal
financial officer of the Company, as applicable) has made all certifications required by Rule
13a-14 or 15d-14 under the Exchange Act and Sections 302 and 906 of SOX with respect to the Company
SEC Documents, and the statements contained in such certifications were complete and correct on the
date such certifications were made. For purposes of this Agreement, “principal executive officer”
and “principal financial officer” shall have the meanings given to such terms in SOX. Except as
set forth in Section 2.5(c) of the Company Disclosure Letter, neither the Company nor any
of its Subsidiaries has outstanding (nor has arranged or modified since the enactment of SOX) any
“extensions of credit” (within the meaning of Section 402 of SOX) to directors or executive
officers (as defined in Rule 3b-7 under the Exchange Act) of the Company or any of its
Subsidiaries.

     (d) The Company maintains a system of “internal control over financial reporting” (as defined
in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) sufficient to provide reasonable assurances
(i) that transactions are recorded as necessary to permit preparation of financial
statements in conformity with GAAP, (ii) that receipts and expenditures of the Company are
executed only in accordance with the authorization of management and directors and (iii)
regarding prevention or timely detection of the unauthorized acquisition, use or disposition of the
Company’s assets that could have a material effect on financial statements.

     (e) The Company’s “disclosure controls and procedures” (as defined in Rules 13a-15(e) and
15d-15(e) of the Exchange Act) are reasonably designed to ensure that information required to be
disclosed by the Company in the Company’s periodic reports filed or submitted under the Exchange
Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s
rules and forms and is accumulated and communicated to the Company’s management as appropriate to
allow timely decisions regarding required disclosure and to make the certifications required

12

 

pursuant to Sections 302 and 906 of SOX. The Company has disclosed, based on its most recent evaluation of such disclosure controls and procedures prior to the date of this
Agreement, to the Company’s auditors and the audit committee of the Company Board (i) any
significant deficiencies and material weaknesses in the design or operation of internal controls
over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act) that are reasonably
likely to adversely affect in any material respect the Company’s ability to record, process,
summarize and report financial data and (ii) any fraud, whether or not material, that
involves management or other employees who have a significant role in the Company’s internal
controls over financial reporting.

     (f) Except as set forth in Section 2.5(f) of the Company Disclosure Letter, since
January 1, 2008 through the date of this Agreement, (i) neither the Company nor any of its
Subsidiaries, nor, to the Knowledge of the Company, any director or executive officer of the
Company or any of its Subsidiaries has, received any material complaint, allegation, assertion or
claim, in writing (or, to the Knowledge of the Company, orally) regarding the accounting or
auditing practices, procedures, methodologies or methods of the Company or any of its Subsidiaries
or their respective internal accounting controls, and (ii) no attorney representing the
Company or any of its Subsidiaries has reported evidence of a material violation of securities Law,
breach of fiduciary duty or similar violation by the Company or any of its officers, directors,
employees or agents to the Company Board or any committee thereof or, to the Knowledge of the
Company, to any director or officer of the Company.

     Section 2.6 No Undisclosed Material Liabilities. Neither the Company nor any of its
Subsidiaries has any liabilities or obligations required to be set forth on a balance sheet
prepared in accordance with GAAP, whether known, unknown, absolute, accrued, contingent or
otherwise and whether due or to become due, except (a) as set forth in the audited
consolidated balance sheet of the Company, as of December 31, 2010 (the “Balance Sheet
Date”), included in the Company SEC Documents (together with the notes thereto, the
“Company Balance Sheet”), (b) liabilities incurred in connection with the
transactions contemplated hereby or expressly contemplated by this Agreement, (c)
liabilities and obligations that were incurred after the date of the Company Balance Sheet in the
ordinary course of business consistent with past practice and (d) liabilities and obligations that
individually and in the aggregate are not and would not reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect.

     Section 2.7 Information Supplied. None of the information supplied or to be supplied
by or on behalf of the Company specifically for inclusion or incorporation by reference in the
Offer Documents or the Schedule 14D-9 will, on the date that such document is filed with the SEC,
at any time it is amended or supplemented or at the time it is first published, sent or given to
the holders of Shares, contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary in order to make the statements therein,
in light of the circumstances under which they

13

 

are made, not misleading, except that no representation or warranty is made by the
Company with respect to statements made or incorporated by reference therein based on
information supplied by or on behalf of Parent or Purchaser specifically for inclusion or
incorporation by reference in the Offer Documents or the Schedule 14D-9. The Schedule 14D-9 will
comply as to form in all material respects with the requirements of the Exchange Act.

     Section 2.8 Absence of Certain Changes. Since the Balance Sheet Date, except for the
execution and performance of this Agreement and the discussions, negotiations and transactions
related thereto, (i) the business of the Company and its Subsidiaries has been conducted in all
material respects in the ordinary course consistent with past practice, (ii) the Company
has not taken, or agreed or committed to take, any action of the type described in Section
4.1(a)(i), 4.1(a)(ii), 4.1(a)(iii) or 4.1(a)(iv) and (iii)
there has not been any event, change, development, effect or occurrence that has had or would
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

     Section 2.9 Certain Joint Venture.

     (a) To the extent the Company was required to file any Contract as an exhibit to the Company
SEC Documents, the exhibits to the Company SEC Documents are true and correct copies of all
Contracts between the Company and any of its Subsidiaries, on the one hand, and any other Person,
on the other hand, relating to the DMS Joint Venture (the “DMS Contracts”). Each DMS
Contract is a valid and binding agreement of the Company or its Subsidiary, as the case may be, and
(assuming the legal power, authorization and capacity of all counter parties thereto) is in full
force and effect, subject to the Bankruptcy and Equity Exception, and neither the Company, its
Subsidiary nor, to the Knowledge of the Company, any other party thereto is in default or breach in
any material respect under (or is alleged to be in default or breach in any material respect under)
the terms of, or has provided or received any notice of any intention to terminate, any such DMS
Contract, and, to the Knowledge of the Company, no event or circumstance has occurred that, with
notice or lapse of time or both, would constitute an event of default thereunder or result in a
termination thereof or would cause or permit the acceleration of or other changes of or to any
right or obligation or the loss of any benefit thereunder. The Company has not received any
notice, whether oral or in writing, from any party to any DMS Contract (i) stating that
such party intends to exercise any rights such party may have under such DMS Contract as a
consequence of the transactions contemplated by this Agreement or (ii) making any other
claim under such DMS Contract, including any claim that the Company or any of its Affiliates is in
material breach of any such DMS Contract.

     (b) The authorized, issued and outstanding shares of capital stock of and other voting or
equity interests in the DMS Joint Venture and the holders thereof are identified in Section
2.9(b) of the Company Disclosure Letter. Except as set forth in Section 2.9(b)

14

 

of the Company Disclosure Letter, there are no outstanding (i) shares of capital stock of
or other voting or equity interests in the DMS Joint Venture, (ii) securities of the
Company or any of the Company Subsidiaries convertible into or exercisable or exchangeable for
shares of capital stock of or other voting or equity interests in the DMS Joint Venture or
(iii) options or other rights or agreements, commitments or understandings of any kind to
acquire from the Company or any of its Subsidiaries, or other obligation of the Company or the DMS
Joint Venture to issue, transfer or sell, any shares of capital stock of or other voting or equity
interests in the DMS Joint Venture or securities convertible into or exercisable or exchangeable
for shares of capital stock of or other voting or equity interests in any Company Subsidiary (the
items in clauses (i), (ii) and (iii) being referred to collectively as the “DMS JV
Securities”).

     (c) To the Knowledge of the Company, the DMS Joint Venture is the exclusive owner of all the
Intellectual Property that is material to the business of the DMS Joint Venture, free and clear of
any Liens other than Permitted Liens. To the Knowledge of the Company, the DMS Joint Venture has
taken all actions reasonably necessary to ensure full protection of the DMS Intellectual Property
under any applicable Law (including making and maintaining in full force and effect all necessary
filings, registrations and issuances). To the Knowledge of the Company, the DMS Joint Venture is
not using any material DMS Intellectual Property in a manner that would reasonably be expected to
result in the cancellation or unenforceability of such DMS Intellectual Property.

     Section 2.10 Compliance with Law. To the Knowledge of the Company, the Company and
each of its Subsidiaries are, and since January 1, 2008 have been, in compliance in all material
respects with all applicable laws, statutes, ordinances, rules, code, regulations, Orders, agency
requirements of or undertaking to or agreements with any Governmental Authority, including common
law (collectively, “Law”) and are not under investigation with respect to any material
violation of any applicable Law.

     Section 2.11 Foreign Assets Control Regulation; FCPA.

     (a) Neither the Company nor any Subsidiary of the Company (i) is a Person described or
designated in the Specially Designated Nationals and Blocked Persons List of the Office of Foreign
Assets Control of the United States Treasury Department or (ii) engages in any dealings or
transactions with any such Person. To the Knowledge of the Company, neither the Company nor any
Subsidiary of the Company has taken any action, nor has any Person taken any action, directly or
indirectly, on behalf of the Company or any Subsidiary of the Company, that has resulted or would
result in any violation of, or operation in material noncompliance with, any export restrictions,
anti-boycott regulations, embargo regulations or other similar applicable Law.

     (b) To the Knowledge of the Company, neither the Company nor any Subsidiary of the Company
nor, to the Knowledge of the Company, any Person acting on

15

 

behalf of the Company or any Subsidiary of the Company has since January 1, 2008, in order to obtain, retain or direct business or otherwise secure an improper advantage: (i)
violated or failed to comply with the Foreign Corrupt Practices Act of 1977, as amended (the
“FCPA”) or any other applicable anti-bribery, anticorruption or anti-money laundering Law;
(ii) offered, promised, given, paid, or authorized the offer, promise, giving or payment of
anything of value to a Government Official for the purpose of: (x) influencing any act,
decision or failure to act by a Government Official in his or her official capacity, (y)
inducing a Government Official to do or omit to do any act in violation of the Government
Official’s lawful duty, or (z) inducing a Government Official to use his or her influence
with a government or instrumentality to affect any act or decision of such government or entity; in
order to obtain, retain or direct business or otherwise secure an improper advantage; or
(iii) offered, promised, given, paid, or authorized the offer, promise, giving or payment
of anything of value to a third party, while knowing or being aware of a high probability that the
thing of value would be offered, promised, given or paid to a Government Official for the purpose
of: (x) influencing any act, decision or failure to act by a Government Official in his or
her official capacity, (y) inducing a Government Official to do or omit to do any act in
violation of the Government Official’s lawful duty, or (z) inducing a Government Official
to use his or her influence with a government or instrumentality to affect any act or decision of
such government or entity. The Company and each of its Subsidiaries have retained, and continue to
retain, materially accurate books and records and have instituted and maintain policies and
procedures designed to provide reasonable assurance of, and which are reasonably expected to
continue to provide reasonable assurance of, continued compliance with the FCPA and all other
applicable anti-bribery, anticorruption or anti-money laundering Law.

     (c) To the Knowledge of the Company, neither the Company nor any of its Subsidiaries is or has
been, at any time since January 1, 2008, the subject of any bribery, improper contribution or
anti-kickback investigation by any Governmental Authority.

     Section 2.12 Transaction with Affiliates. Except for employment Contracts filed as
exhibits to a Company SEC Document filed prior to the date hereof or Company Plans, and except as
set forth in Section 2.12 of the Company Disclosure Letter, there are no (i)
transactions, or series of related transactions, agreements, arrangements or understandings (nor
any currently proposed transactions or series of related transactions) that would be required to be
disclosed under Item 404 of Regulation S-K promulgated by the SEC that have not been otherwise
disclosed in a Company SEC Document publicly filed prior to the date hereof, (ii) Contracts
between or among Abengoa or any of its Affiliates (other than the Company and its Subsidiaries), on
the one hand, and the Company or any of its Subsidiaries, on the other hand or (iii)
Contracts between or among Abengoa and any of its Affiliates (other than the Company or any of its
Subsidiaries), on the one hand, and any third parties, on the other hand, under which (x)
the Company or any of its Subsidiaries receives benefits that are material to the business

16

 

or operations of the Company and its Subsidiaries or (y) Abengoa or any of its Affiliates
(other than the Company or any of its Subsidiaries) guaranties, or has other obligations
having the economic effect of a guaranty of, indebtedness for borrowed money of the Company and its
Subsidiaries (each, an “Affiliate Transaction”). The Company has provided to Parent
correct and complete copies of each Contract or other relevant documentation (including any
amendments or modifications thereto) providing for or reflecting an Affiliate Transaction, except
for any Contract relating to an Affiliate Transaction that has been filed as an exhibit to the
Company SEC Documents.

     Section 2.13 Opinion of Financial Advisor. The Company Board has received the oral
opinion of Credit Suisse Securities (Europe) Limited, to be confirmed in writing and dated the date
of this Agreement, to the effect that, and subject to the various assumptions and qualifications
set forth therein, as of such date, the Offer Price to be received in the Offer by the Company
Shareholders, is fair from a financial point of view to the Company Shareholders, other than
Abengoa. As of the date hereof, such opinion has not been withdrawn or revoked or otherwise
modified in any material respect. The Company has received the consent of Credit Suisse Securities
(Europe) Limited to include such opinion in the Schedule 14D-9. It is agreed and understood that
such opinions are for the benefit of the Company’s Board of Directors and may not be relied on by
Parent or Purchaser.

     Section 2.14 Finders’ Fees. Except for Credit Suisse Securities (Europe) Limited,
whose fees and expenses will be paid by the Company, there is no investment banker, broker, finder
or other intermediary retained by or authorized to act on behalf of the Company or any of its
Subsidiaries who is entitled to any fee or commission from the Company, Parent or Purchaser upon
consummation of the transactions contemplated hereby

     Section 2.15 No Other Representations or Warranties. Except for the representations
and warranties made by the Company in this Article II, neither the Company nor any other
Person makes any other express or implied representation or warranty with respect to the Company or
any of its Subsidiaries or their respective business, operations, assets, liabilities, condition
(financial or otherwise) or prospects, notwithstanding the delivery or disclosure to Parent,
Purchaser or any of their Affiliates or representatives of any documentation, forecasts or other
information with respect to any one or more of the foregoing, and each of Parent and Purchaser
acknowledge the foregoing.

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF PARENT AND PURCHASER

     Parent and Purchaser jointly and severally represent and warrant to the Company as follows:

17

 

     Section 3.1 Organization; Standing. Parent is a société anonyme duly organized and
validly existing under the laws of the Republic of France and has all requisite corporate power and
authority to carry on its business as now conducted. Purchaser is a sociedad anónima duly
organized and validly existing under the laws of the Kingdom of Spain and has all requisite
corporate power and authority to carry on its business as now conducted.

     Section 3.2 Authority;Consents and Approvals.

     (a) Each of Parent and Purchaser has all requisite corporate (or equivalent organizational)
power and authority to execute and deliver this Agreement, to perform its obligations hereunder and
to consummate the transactions contemplated hereby. The execution, delivery and performance by
Parent and Purchaser of this Agreement, and the consummation by Parent and Purchaser of the
transactions contemplated hereby, have been duly authorized and approved by their respective Boards
of Directors, which authorization and approval, as of the date of this Agreement, have not been
rescinded, modified or withdrawn in any way, and no other corporate action on the part of Parent
and Purchaser is necessary to authorize the execution, delivery and performance by Parent and
Purchaser of this Agreement and the consummation by them of the transactions contemplated hereby.
This Agreement has been duly executed and delivered by Parent and Purchaser and, assuming due
authorization, execution and delivery of this Agreement by the Company, constitutes a legal, valid
and binding obligation of each of Parent and Purchaser, enforceable against each of them in
accordance with its terms, subject only to the Bankruptcy and Equity Exception.

     (b) The execution and delivery of this Agreement by each of Parent and Purchaser, the
performance of each of Parent’s and Purchaser’s obligations hereunder and the consummation of the
transactions contemplated hereby require no filing or registration with, notification to, or
authorization, permit, consent or approval of, or other action by or in respect of, any
Governmental Authority, other than (i) compliance with any applicable requirements of the
HSR Act and the EU Merger Control Regulation, (ii) such consents, approvals,
authorizations, registrations, declarations or filings as may be required under the other
Regulatory Laws set forth in Section 2.2(b)(ii) of the Company Disclosure Letter,
(iii) compliance with the requirements of the Exchange Act, (iv) such filings with
the SEC as may be required on behalf of Purchaser or Parent in connection with this Agreement and
the Offer, (v) compliance with the requirements of Spanish Law, including if applicable,
any Law relating to any squeeze-out transaction and any filings with the CNMV necessary or
advisable in connection therewith and (vi) any actions consents, approvals, authorizations,
registrations, declarations or filings under Law that, if not obtained, made or given, would not,
individually or in the aggregate, materially impair the ability of the Company to consummate the
transactions contemplated hereby or the ability of Parent or Purchaser to perform its obligations

18

 

hereunder or prevent or materially delay consummation of the transactions contemplated
hereby. 

     Section 3.3 Noncontravention. Neither the execution and delivery of this Agreement by
Parent and Purchaser, nor the consummation by Parent or Purchaser of the transactions contemplated
hereby, nor compliance by Parent or Purchaser with any of the provisions of this Agreement, will
(i) conflict with or result in any violation or breach of (with or without notice or lapse
of time, or both) the Organizational Documents of Parent or Purchaser, (ii) assuming
compliance with Section 3.2(b), conflict with or breach any provision of any applicable
Law, or (iii) require any consent of or other action by any Person under, conflict with or
result in any violation or breach of, or default (with or without notice or lapse of time, or both)
under or give rise to a right of, or result in, termination, modification, cancellation, recapture
or acceleration of any obligation or to the loss of a benefit, or result in the creation of any
Lien in or upon or with respect to, any of the properties or other assets of Parent or Purchaser,
under any of the terms, conditions, or provisions of any Contract to which Parent, Purchaser or any
of their respective Subsidiaries is a party, except in the case of clause (iii) for such conflicts,
violations, breaches or defaults as would not, individually or in the aggregate, have or reasonably
be expected to have a Parent Material Adverse Effect.

     Section 3.4 Sufficient Funds. Parent’s and Purchaser’s obligations hereunder are
not subject to any conditions regarding Parent’s, Purchaser’s or any other Person’s ability to
obtain financing for the Offer. Parent and Purchaser have or will have as of the Offer Closing
Date sufficient cash available, directly or through one or more Affiliates, to pay all amounts to
be paid by Parent and Purchaser in connection with the Offer or otherwise pursuant to this
Agreement, including without limitation Parent’s and Purchaser’s costs and expenses and Parent’s
obligations under Section 4.7 and Section 4.9 of this Agreement, on the terms and conditions
contained in this Agreement.

     Section 3.5 Information Supplied. None of the information supplied or to be supplied
by or on behalf of Parent or Purchaser specifically for inclusion or incorporation by reference in
the Offer Documents or the Schedule 14D-9 will, on the date that such document is filed with the
SEC, at any time it is amended or supplemented or at the time it is first published, sent or given
to the holders of Shares, contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary in order to make the statements therein,
in light of the circumstances under which they are made, not misleading, except that no
representation or warranty is made by Parent or Purchaser with respect to statements made or
incorporated by reference therein based on information supplied by or on behalf of the Company or
Abengoa specifically for inclusion or incorporation by reference in the Offer Documents or the
Schedule 14D-9. The Offer Documents will comply as to form in all material respects with the
requirements of the Exchange Act.

19

 

ARTICLE IV

ADDITIONAL COVENANTS AND AGREEMENTS

     Section 4.1 Conduct of Business.

     (a) During the period commencing on the date hereof and ending on the Offer Closing Date,
except as set forth in Section 4.1(a) of the Company Disclosure Letter, as required by
applicable Law or as otherwise expressly permitted or required pursuant to this Agreement, unless
Parent otherwise provides its prior written consent (which consent shall not be unreasonably
withheld, conditioned or delayed), the Company shall, and shall cause its Subsidiaries to,
(x) conduct its operations in the ordinary course consistent with past practice and, to the
extent consistent therewith, (y) use its reasonable best efforts to (A) maintain
and preserve its business organization and its material rights and franchises, (B) retain
the services of its senior management and key employees and (C) maintain relationships with
customers, suppliers, lessees, licensees and other third parties having significant business
relationships with it, to the end that their goodwill and ongoing business shall not be impaired in
any material respect (it being understood that any impairment of such goodwill and ongoing business
shall not be a breach of this sentence so long as the Company and its Subsidiaries shall have
complied with their respective obligations to use reasonable best efforts as provided in this
sentence). Without limiting the generality of the foregoing, during the period commencing on the
date hereof and ending on the Offer Closing Date, except as set forth in Section 4.1(a) of
the Company Disclosure Letter, as required by applicable Law or as otherwise expressly permitted or
required pursuant to this Agreement, unless Parent otherwise provides its prior written consent
(which consent shall not be unreasonably withheld, conditioned or delayed), neither the Company nor
its Subsidiaries shall:

     (i) issue, sell or grant options, warrants or rights to purchase or subscribe to,
enter into any arrangement or other Contract with respect to the issuance or sale of, or
redeem or repurchase, any Company Securities or make any changes (by combination,
reorganization or otherwise) in the capital structure of the Company or any of its
Subsidiaries;

     (ii) incur any indebtedness for borrowed money or guarantee any such indebtedness,
guarantee any debt of others, enter into any “keep-well” or other agreement to maintain any
financial condition of another Person or enter into any arrangement having the economic
effect of any of the foregoing, except for working capital borrowings incurred or letters
of credit issued in the ordinary course of business;

     (iii) (A) amend any Contract that is a “material contract” (as such term is
defined in Item 601(b)(10) of Regulation S-K promulgated by the SEC), other than in the
ordinary course of business; (B) enter into or amend, or grant any

20

 

waiver or consent under, any DMS Contract, other than in the ordinary course of
business; (C) or enter into any new Contract, other than in the ordinary course of
business, which if entered into prior to the date hereof would have been a “material
contract,” that contains a change in control provision in favor of the other party or
parties thereto that does not exclude the Offer or that would otherwise require a payment
to or give rise to any rights to such other party or parties in connection with the Offer
or that is not terminable without penalty on 30 days notice;

     (iv) (A) make, declare, set aside or pay any dividend or other distribution
with respect to any Company Securities or (B) make any payment or other
distribution to any Affiliate of the Company, excluding any payment required pursuant to a
Company Contract in effect as of the date hereof;

     (v) (A) increase the size of the Company Board or (B) enter into any
Contract relating to the disposition of any assets of the DMS Joint Venture or any DMS JV
Securities (whether by merger, sale of stock, sale of assets or otherwise); or

     (vi) agree or commit to do any of the foregoing.

     (b) Parent and Purchaser agree that, during the period from the date of this Agreement until
the Offer Closing, Parent and Purchaser shall not, and shall not permit any of their Subsidiaries
to take, or agree or commit to take, any action that could reasonably be expected to impose any
meaningful delay in the obtaining of, or significantly increase the risk of not obtaining, any
authorizations, consents, orders, declarations or approvals of any Governmental Authority necessary
to consummate the transactions contemplated hereby or the expiration or termination of any
applicable waiting period. Parent and Purchaser shall not take, and shall not permit any Affiliate
to take, any action that could significantly increase the risk of any Governmental Authority
entering an order or Restraint prohibiting or impeding the consummation of the transactions
contemplated hereby or otherwise would reasonably be expected to cause a meaningful delay or
impediment to the consummation of the transactions contemplated hereby (each, a “Delay”).

     Section 4.2 No Solicitation.

     (a) Neither the Company nor its Subsidiaries shall, and neither the Company nor its
Subsidiaries shall authorize any of their respective Representatives to, directly or indirectly
through another Person, (i) solicit, initiate, or knowingly encourage or facilitate
(including by way of furnishing information or assistance), any inquiries, proposals or offers with
respect to, or the making, submission, announcement or completion of, any proposal or offer that
constitutes or is reasonably likely to lead to a Alternative Proposal, (ii) other than
informing Persons of the provisions contained in this Section 4.2 and

21

 

except as otherwise permitted by Section 4.2(b), enter into, continue or participate
in any discussions or negotiations regarding any Alternative Proposal, or furnish any information
concerning the Company and its Subsidiaries to any Person in connection with any Alternative
Proposal, or otherwise cooperate with or take any other action to knowingly facilitate any effort
or attempt to make or implement a Alternative Proposal or (iii) agree to do any of the
foregoing. Upon execution of this Agreement, the Company shall, and shall cause its Subsidiaries
and its and their respective Representatives to, (i) immediately cease and cause to be
terminated any existing activities, discussions or negotiations with any Person or its
Representatives conducted heretofore or that may be ongoing with respect to, or that may reasonably
be expected to lead to, any Alternative Proposal, (ii) request, to the extent permitted
under the applicable confidentiality agreement, the prompt return or destruction of all
confidential information previously furnished to any such Person or its Representatives and
(iii) at the expense of Parent and Purchaser, take such action as is reasonably necessary
to enforce any confidentiality or “standstill” provisions or provisions of similar effect to which
it is a party or of which it is a beneficiary (in the case of confidentiality or similar
provisions, to the extent entered into in connection with or in relation to an Alternative
Proposal).

     (b) Notwithstanding anything in this Section 4.2 to the contrary, at any time prior to
the Offer Closing, the Company may, in response to an unsolicited bona fide written Alternative
Proposal made after the date of this Agreement that the Company Board determines in good faith
(after consultation with outside counsel and receiving the advice of its financial advisor)
constitutes or is reasonably likely to result in a Superior Proposal (provided that, in such case,
the Company shall give Parent and Purchaser prompt written notice of such determination), the
Company may (A) furnish information with respect to the Company and its Subsidiaries to the
Person making such Alternative Proposal (and its Representatives) pursuant to a confidentiality
agreement containing terms and conditions no more favorable to and no less restrictive of such
Person than those contained in the Confidentiality and Standstill Agreement, dated May 8, 2011 (as
it may be amended from time to time, the “Confidentiality Agreement”), between Parent,
Abengoa and the Company, are to Parent, except that such confidentiality agreement between the
Company and such Person shall not contain any provisions that would prevent the Company from
complying with its obligations to provide the required disclosure to Parent pursuant to this
Section 4.2 (provided that all such information (to the extent that such written
information that has not been previously provided or made available to Parent) is simultaneously
provided or made available to Parent) and (B) participate in discussions or negotiations
with the Person making such Alternative Proposal (and its Representatives) regarding such
Alternative Proposal.

     (c) Except as expressly permitted by this Section 4.2(c), the Company Board shall not
(i)(A) withdraw, modify or qualify, in a manner materially adverse to Parent, the Company
Recommendation, (B) adopt, recommend or propose publicly to adopt or recommend, to the Company
Shareholders an Alternative Proposal or (C) make any

22

 

public statement with reference to an Alternative Proposal that is inconsistent with the
Company Recommendation (any action described in this clause (i) being referred to as a “Company
Adverse Recommendation Change”) (it being understood and agreed that neither any “stop, look
and listen” communication by the Board of Directors to the Company Shareholders, nor the failure of
the Board of Directors of the Company to take a position with respect to an Alternative Proposal in
connection with such Alternative Proposal, in either case pursuant to Rule 14d-9(f) under the
Exchange Act, shall constitute a Company Adverse Recommendation Change) or (ii) authorize the
Company or any of its Subsidiaries to enter into any letter of intent, memorandum of understanding,
agreement in principle or merger, acquisition or similar agreement with respect to, or that is
intended to or could reasonably be expected to lead to any Alternative Proposal (other than a
confidentiality agreement referred to in Section 4.2(b) if permitted by Section
4.2(b)). Notwithstanding the foregoing, the Company may make a Company Adverse Recommendation
Change at any time prior to, but not after, the Offer Closing and subject to the proviso of this
sentence: (i) in response to a material event or change in circumstances occurring after the date
hereof that does not involve an Alternative Proposal (such event or change in circumstances, an
“Intervening Event”) upon a good faith determination by the Company Board (after receiving
the advice of its outside counsel) that, in light of such Intervening Event, failure to take such
action would be reasonably likely to result in a breach of the Company Board’s fiduciary duties
under applicable Law or (ii) if the Company Board receives a Alternative Proposal that the Company
Board reasonably determines (after receiving the advice of its outside counsel and financial
advisor) constitutes a Superior Proposal and that was unsolicited after the date of this Agreement
and did not otherwise result from a breach of this Section 4.2; provided,
however, that the Company shall not be entitled to exercise its right to make a Company
Adverse Recommendation Change unless: (1) the Company shall provide to Parent five (5) calendar
days’ prior written notice (an “Alternative Transaction Notice”), which Alternative
Transaction Notice shall (x) specify that the Company Board is prepared to make a Company Adverse
Recommendation Change, (y)(I) in the case of an Alternative Proposal that the Company Board has
determined constitutes a Superior Proposal, shall attach the most current version of any written
document relating to the Alternative Proposal that the Company Board has determined constitutes a
Superior Proposal and contain a description of any other material terms of such Alternative
Proposal and advising Parent that the Company Board has determined that such Alternative Proposal
is a Superior Proposal and that the Company Board intends to make a Company Adverse Recommendation
Change relating to such Superior Proposal or (II) in the case of an Intervening Event, shall
specify the facts underlying Company Board’s determination that an Intervening Event has occurred
and the reasons for the Company Adverse Recommendation Change, in reasonable detail, and (2) during
such five (5) calendar-day period, if requested by Parent, the Company shall engage in good-faith
negotiations with Parent to amend this Agreement in such a manner that the Alternative Proposal
that was determined to constitute a Superior Proposal no longer is a Superior

23

 

Proposal or that obviates the need for a Company Adverse Recommendation Change as result of
such an Intervening Event, as applicable.

     (d) For purposes of this Agreement:

     “Alternative Proposal” means any inquiry, proposal, offer or indication of interest
(whether binding or non-binding) from any Person or “group” of Persons (as defined under Section
13(d) of the Exchange Act), other than Parent and its Subsidiaries, relating to any (A)
direct or indirect sale, lease exchange, transfer license, acquisition or disposition, in one
transaction or a series of related transactions, of assets of the Company and its Subsidiaries
(including securities of Subsidiaries, but excluding sales of assets in the ordinary course of
business consistent with past practice) equal to twenty-five percent (25%) or more of the Company’s
consolidated assets or to which twenty-five percent (25%) or more of the Company’s revenues, net
income or earnings on a consolidated basis are attributable, (B) tender offer or exchange
offer that if consummated would result in any Person or “group” of Persons (as defined under
Section 13(d) of the Exchange Act) beneficially owning twenty-five (25%) or more of (x) the
outstanding Shares, (y) any other class of equity securities of the Company or (z)
voting securities of any of its Subsidiaries or (D) merger, spin-off, transfer of assets
and liabilities, other “modificaciones estructurales” (as defined by Law 3/2009), consolidation,
share exchange, business combination, recapitalization, liquidation, dissolution, joint venture or
similar transaction involving the Company or any of its Subsidiaries which would result in a direct
or indirect acquisition or distribution of twenty-five percent (25%) or more of the Company’s
consolidated assets or assets to which twenty-five percent (25%) or more of the Company’s revenues,
net income or earnings on a consolidated basis are attributable; in each case, other than the
transactions contemplated hereby.

     “Superior Proposal” means an unsolicited bona fide written Alternative Proposal
obtained not in breach of this Section 4.2 to acquire, directly or indirectly, for
consideration consisting of cash and/or securities, a majority of the outstanding Shares or
substantially all of the assets of the Company and its Subsidiaries on a consolidated basis, made
by a third Person (or group of Persons acting in concert within the meaning of Rule 13d-5 under the
Exchange Act), and which is otherwise on terms and conditions which the Company Board determines in
its good faith (after consultation with its financial advisor, and in light of relevant
circumstances, including, without limitation, (x) the terms and conditions of such
proposal, including legal, financial, regulatory and other aspects, the form of consideration,
financing conditionality, anticipated timing (including any delay relative to the transactions
contemplated by this Agreement (including any binding offer by Parent to amend the terms of this
Agreement), and any break-up fees, expense reimbursement provisions and conditions to consummation,
and of this Agreement (including any binding offer by Parent to amend the terms of this Agreement)
and (y) the identity of the Person (or group of Persons) making such proposal) to be, if
consummated, (A) more favorable to the Company Shareholders from a financial point of

24

 

view than the Offer and the other transactions contemplated hereby (including any binding
offer by Parent to amend the terms of this Agreement), and (B) reasonably likely to be
consummated on the terms so proposed, taking into account relevant financial, regulatory, legal and
other aspects of such proposal, including any conditions.

     (e) Nothing in this Section 4.2 shall prohibit the Company Board from taking and
disclosing to the Company Shareholders a position contemplated by Rule 14e-2(a), Rule 14d-9 or Item
1012(a) of Regulation M-A promulgated under the Exchange Act, or other applicable Law, if the
Company Board reasonably determines, after consultation with outside counsel, that failure to so
disclose such position could constitute a violation of the Exchange Act.

     (f) Any violation of the restrictions set forth in this Section 4.2 by any
Representative of the Company shall be deemed to be a breach of this Section 4.2 by the
Company.

     Section 4.3 Reasonable Best Efforts.

     (a) Subject to the terms and conditions of this Agreement, each of the parties hereto shall
cooperate with the other parties and use (and shall cause their respective Subsidiaries to use)
their respective reasonable best efforts to promptly (i) take, or cause to be taken, all
actions, and do, or cause to be done, all things, necessary, proper or advisable to cause the Offer
Conditions to be satisfied as promptly as practicable and to consummate and make effective, in the
most expeditious manner practicable, the transactions contemplated hereby, including preparing and
filing promptly and fully all documentation to effect all necessary filings, notices, petitions,
statements, registrations, submissions of information, applications and other documents (including
any required or recommended filings under applicable Regulatory Law), and (ii) obtain all
approvals, consents, registrations, permits, authorizations and other confirmations from any
Governmental Authority necessary, proper or advisable to consummate the transactions contemplated
hereby. For purposes of this Agreement, “Regulatory Law” means any and all state, federal
and foreign statutes, rules, regulations, Orders, administrative and judicial doctrines and other
Law requiring notice to, filings with, or the consent, clearance or approval of, any Governmental
Authority, or that otherwise may cause any restriction, in connection with the Offer and the other
transactions contemplated hereby, including (i) the Sherman Act of 1890, the Clayton
Antitrust Act of 1914, the Federal Trade Commission Act of 1914, in each case as amended, the HSR
Act, the EU Merger Control Regulation and all other applicable Law designed or intended to
prohibit, restrict or regulate actions having the purpose or effect of monopolization or restraint
of trade or lessening competition through merger or acquisition or (ii) any Law governing
the direct or indirect ownership or control of any of the operations or assets of the Company and
its Subsidiaries.

25

 

     (b) In furtherance and not in limitation of the foregoing, each party hereto agrees to make an
appropriate filing of a Notification and Report Form pursuant to the HSR Act and a Form CO pursuant
to the EU Merger Control Regulation with respect to the transactions contemplated hereby as
promptly as practicable after the date hereof, and to supply as promptly as practicable any
additional information and documentary material that may be requested pursuant to the HSR Act and
the EU Merger Control Regulation and use its reasonable best efforts to take, or cause to be taken,
all other actions consistent with this Section 4.3 necessary to cause the expiration or
termination of the applicable waiting periods under the HSR Act and the issuance of the applicable
approval by the European Commission under the EU Merger Control Regulation as soon as practicable.

     (c) Each of the parties hereto shall use its reasonable best efforts to (i) cooperate
in all respects with each other in connection with any filing or submission with a Governmental
Authority in connection with the transactions contemplated hereby and in connection with any
investigation or other inquiry by or before a Governmental Authority relating to the transactions
contemplated hereby, and (ii) promptly notify the other party of any written communication
to that party from the Federal Trade Commission, the Antitrust Division of the Department of
Justice, any State Attorney General, the European Commission or any other Governmental Authority
and permit the other party to review any proposed communication to any of the foregoing,
(iii) consult with the other party prior to participating in any substantive meeting,
telephone call or discussion with any Governmental Authority in respect of any filings,
investigation or inquiry concerning this Agreement or any of the transactions contemplated hereby
and provide the other party the opportunity to attend and participate in any such meeting,
telephone call or discussion to the extent permissible and practicable, and (iv) furnish
the other party with copies of all correspondence, filings, and written communications (or a
reasonably detailed summary of any oral communications) between them and their respective
representatives on the one hand, and any Governmental Authority or members of their respective
staffs on the other hand, with respect to this Agreement and any of the transactions contemplated
hereby. Notwithstanding anything to the contrary in this Agreement, proprietary or confidential
information may be reasonably redacted from correspondence, filings and written communications
provided from one party to the other pursuant to the provisions of this Section of the Agreement.

     (d) In furtherance and not in limitation of the covenants of the parties contained in this
Section 4.3, each of the parties hereto shall use its reasonable best efforts to resolve
such objections, if any, as may be asserted by a Governmental Authority or other Person with
respect to the transactions contemplated hereby. Without limiting any other provision of this
Agreement, Parent and the Company shall each use their reasonable best efforts to (i) avoid
the entry of, or to have vacated or terminated, any decree, order or judgment that would restrain,
prevent or delay the consummation of the transactions contemplated hereby, on or before the Outside
Date, and (ii) avoid or

26

 

eliminate each and every impediment under any Regulatory Law that may be asserted by any
Governmental Authority with respect to the transactions contemplated hereby so as to enable the
consummation of the transactions contemplated hereby to occur as soon as reasonably possible (and
in any event no later than the Outside Date), in each case, as may be required in order obtain any
approvals from any Governmental Authority necessary to consummate the transactions contemplated
hereby or to avoid the entry of, or to effect the dissolution of, any injunction, temporary
restraining order, or other order in any suit or proceeding, , which would otherwise have the
effect of preventing or materially delaying the consummation of the transactions contemplated
hereby; provided, however, that, notwithstanding anything to the contrary in this
Agreement, in connection with any filing or submission required or action to be taken by either
Parent or the Company to consummate the transactions contemplated hereby, in no event shall Parent
or any of its Subsidiaries or Affiliates be obligated (x) to propose or agree to accept any
undertaking or condition, to enter into any consent decree, to make any divestiture or accept any
operational restriction or take or commit to take any action (i) the effectiveness or
consummation of which is not conditional on the consummation of the Offer or (ii) that
individually or in the aggregate (A) is or would reasonably be expected to be materially
adverse (with materiality, for purposes of this provision, being measured in relation to the size
of the Company and its Subsidiaries taken as a whole) to (1) the Company and its
Subsidiaries, taken as a whole, or Parent and its Subsidiaries, taken as a whole, either before or
after giving effect to the Offer, or (2) Parent’s, or the Company’s, ownership or operation
of any material portion of the business or assets of the Company and its Subsidiaries, taken as a
whole or (B) would reasonably be expected to deny Parent or the Company the material
benefit of the bargains contemplated by the transactions contemplated by this Agreement (a
“Materially Burdensome Condition”) or (y) to waive any of the Offer Conditions.

     Section 4.4 Public Announcements. The initial press releases with respect to the
execution of this Agreement issued by each of the parties shall be reasonably agreed upon by Parent
and the Company. Thereafter, and subject to the provisions of Section 5.2, unless and until a
Company Adverse Recommendation Change has occurred in accordance with Section 4.2, so long as this
Agreement is in effect, neither the Company, on the one hand, nor Parent or Purchaser, on the other
hand, shall issue or cause the publication of any press release or other public announcement (to
the extent not previously issued or made in accordance with this Agreement) with respect to the
transactions contemplated by this Agreement or the Irrevocable Undertaking Agreements, including
the Offer, without the prior consent of the other (which consent shall not be unreasonably
withheld, conditioned or delayed). Nothing in this Section 4.5 shall limit a party’s ability to
make any disclosure required by Law, by applicable fiduciary duties or by any applicable listing
agreement with a national securities exchange or interdealer quotation service as determined in the
good faith judgment of the party proposing to make such release or other public announcement (in
which case such party shall not issue
or cause the publication of such press release or other public announcement without prior

27

 

consultation with the other party, if practicable) or by the request of any Governmental Authority.

     Section 4.5 Access to Information; Confidentiality. Subject to applicable Law and
regulatory standards relating to the exchange of information, from the date of this Agreement until
the Offer Closing, upon reasonable prior notice the Company shall afford to Parent and its
Representatives reasonable access during normal business hours to the Company’s properties, books,
records and personnel in a manner that does not unreasonably interfere with the conduct of the
Company’s business and the Company shall furnish promptly to Parent such other information
concerning its business and properties as Parent may from time to time reasonably request,
provided, however, that the Company shall not be required to provide access to any
information or documents which would, in the reasonable judgment of the Company, violate applicable
Law or regulatory standards, breach any agreement of the Company or any of its subsidiaries with
any third party or constitute a waiver of the attorney-client or other privilege held by the
Company, or expose the Company to risk of liability for disclosure of sensitive or personal
information; provided, further, however, that the Company will use its reasonable
best efforts to obtain any required consents for the disclosure of such information or documents
and take such other action (such as the redaction of identifying or confidential information or
entry into a joint defense agreement or other arrangement to avoid loss of attorney client
privilege) with respect to such information or documents as is necessary to permit disclosure to
Parent and Parent’s Representatives. Until the Offer Closing, the information provided pursuant to
this Section 4.5 will be subject to the terms of the Confidentiality Agreement.

     Section 4.6 Rule 14d-10(d). Prior to the Offer Closing and to the extent permitted by
Law, the Company (acting through its Compensation Committee or its independent directors, to the
extent required) shall take all such steps as may be required to cause each employment
compensation, severance and employee benefit agreement, arrangement or understanding entered into
by the Company on or after the date of this Agreement with any of its officers, directors or
employees pursuant to which consideration is paid to such officers, director or employee to satisfy
the requirements of the non-exclusive safe-harbor set forth in Rule 14d-10(d) of the Exchange Act,
including, without limitation, the actions contemplated by Section 4.14.

     Section 4.7 Convertible Notes.

     (a) Following the date hereof and at any time prior to the Offer Closing, Parent shall, or
shall cause Purchaser to, commence a tender offer (the “Convertible Notes Offer”) for all
of the outstanding Convertible Notes on such terms and subject to such conditions as are determined
by Parent in its absolute discretion (the “Convertible Notes Offer Conditions”). The
Company shall provide, and shall cause its Subsidiaries and Representatives to provide, all
cooperation reasonably requested by Parent in
connection with the Convertible Notes Offer, including, without limitation, (i) as set forth

28

 

in Section 4.7(b) and (ii) the delivery of the Company’s position with respect to the
Convertible Notes Offer pursuant to and in accordance with Rule 14e-2 under the Exchange Act.
Subject only to the following sentence, Parent and Purchaser expressly reserve the right (in their
sole discretion) (x) to waive, in whole or in part, any Convertible Note Tender Offer
Condition, (y) to amend, modify or supplement the terms of the Convertible Notes Tender
Offer (including any Convertible Note Tender Offer Condition) or (z) to withdraw, terminate
or extend the Convertible Notes Tender Offer. The Convertible Notes Offer and other actions taken
in connection therewith shall be conducted in accordance with the Exchange Act, all applicable
rules and regulations of the SEC and other applicable Law.

     (b) Parent shall prepare all necessary and appropriate documentation in connection with the
Convertible Notes Offer (including all mailings to holders of the Convertible Notes (the
“Company Convertible Noteholders”), including an offer to purchase, letter of transmittal
and a notice of guaranteed delivery, all SEC filings and any supplements or amendments thereto (the
“Convertible Notes Offer Documents”)). The Company shall promptly furnish to Parent and
Purchaser all information concerning the Company that is required by applicable Law to be set forth
in the Convertible Notes Offer Documents or that is otherwise reasonably requested by Parent or
Purchaser for inclusion in the Convertible Notes Offer Documents or in connection with the
obligations relating to the Convertible Notes Offer Documents contained in this Section
4.7(b). Prior to the filing of the Convertible Notes Offer Documents (including any amendments
or supplements thereto) with the SEC or dissemination thereof to the Company Convertible
Noteholders, the Company and its counsel shall be given a reasonable opportunity to review and
comment on such Convertible Notes Offer Documents. If at any time prior to the completion of the
Convertible Notes Offer any information in the Convertible Notes Offer Documents should be
discovered by Parent or Purchaser, on the one hand, or the Company, on the other hand, which should
be set forth in an amendment or supplement to the Convertible Notes Offer Documents, so that the
Convertible Notes Offer Documents shall not contain any untrue statement of a material fact or omit
to state any material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they are made, not misleading, the
party that discovers such information shall promptly notify the other parties, and an appropriate
amendment or supplement prepared by Parent (subject to the review of, and comment by, the Company)
describing such information shall be disseminated by or on behalf of Parent, or Purchaser, as
applicable, to the Company Convertible Noteholders.

     (c) The Company shall take all actions that are required pursuant to the terms and provisions
of the Convertible Notes Indenture, including, without limitation, pursuant to Article 14
(Conversion of Notes) and Article 15 (Repurchase of Notes Upon a Fundamental Change) thereof, in
connection with the Offer Closing. Without limiting the foregoing and in furtherance thereof, the
Company shall, in each case in accordance
with the terms and provisions of the Convertible Notes Indenture, (i) provide prior

29

 

written notice to the Convertible Noteholders of the anticipated effective date of the Offer
Closing and (ii) in the event that the Offer Closing constitutes a Fundamental Change,
provide the Convertible Noteholders with a Fundamental Change Company Notice with respect to the
Offer Closing. The Company shall elect Cash Settlement as the Settlement Method for the conversion
of any and all Convertible Notes following the Closing. For the avoidance of doubt, the Company
acknowledges and agrees that, to the extent permitted under the Convertible Notes Indenture,
(x) the Company shall not issue or deliver Shares to any Company Noteholder in connection
with the conversion of Convertible Notes at any time from and after the Offer Closing and
(y) the Company shall take any and all actions under to the terms of the Convertible Notes
Indenture that are necessary to comply with its obligations under this Section 4.7(c),
including, without limitation, by delivering, and causing the Conversion Agent to deliver, to the
Convertible Noteholders Settlement Notices specifying Cash Settlement as the Settlement Method in
respect of any applicable Conversion Date. Unless otherwise defined in this Agreement, capitalized
terms used in this Section 4.7(c) shall have the meanings assigned to such terms in the
Convertible Notes Indenture.

     (d) Parent and Purchaser shall be liable for any and all expenses incurred by the Company in
connection with fulfilling its obligations pursuant to this Section 4.7.

     Section 4.8 Notification of Certain Matters, Stockholder Litigation. The Company
shall give prompt notice to Parent, and Parent shall give prompt notice to the Company, of (i) any
notice or other communication received by such party from any Governmental Authority in connection
with the transactions contemplated by this Agreement or the Irrevocable Undertaking Agreements,
including the Offer, or from any Person alleging that the consent of such Person is or may be
required in connection with the transactions contemplated by this Agreement or the Irrevocable
Undertaking Agreements, including the Offer, if the subject matter of such communication or the
failure of such party to obtain such consent could be material to the Company, Purchaser or Parent
and (ii) any actions, suits, claims, investigations or proceedings commenced or, to such party’s
knowledge, threatened against, relating to or involving or otherwise affecting such party or any of
its Subsidiaries which relate to the transactions contemplated by this Agreement or the Irrevocable
Undertaking Agreements, including the Offer, provided that (x) the Company shall give
Parent the opportunity to participate in the defense or settlement of any stockholder litigation
against the Company and/or its directors relating to this Agreement or any of the transactions
contemplated hereby, including the Offer and (y) the Company agrees that it shall not settle or
offer to settle any litigation commenced prior to or after the date hereof against the Company or
any of its directors or executive officers by any Company Stockholder relating to this Agreement or
any of the transactions contemplated hereby, including the Offer, without the prior written consent
of Parent (which consent shall not be unreasonably withheld).

30

 

     Section 4.9 Other Indebtedness and Obligations.

     (a) Subject to Parent satisfying its obligations under this Section 4.9, and at or as
promptly as practicable following the Offer Closing, the Company shall, or shall cause its
Subsidiaries to, pay off, discharge and terminate in full all indebtedness for borrowed money of
the Company and its Subsidiaries pursuant to any Contract by the Company or any of its
Subsidiaries, on the one hand, with any Affiliate of the Company (other than any Subsidiary of the
Company), on the other hand, as set forth on Section 2.4(d) of the Company Disclosure Letter. As
promptly as practicable following the date on which Parent and Purchaser shall have acquired a
majority of the issued and outstanding Shares and subject to Parent satisfying its obligations
under this Section 4.9, the Company shall, or shall cause its Subsidiaries to, pay off, discharge
and terminate in full all other indebtedness for borrowed money of the Company and its Subsidiaries
that is then repayable or becomes repayable in connection with the transactions contemplated by
this Agreement in accordance with the terms and conditions of the Contract governing such
indebtedness, as set forth on Section 2.4(d) of the Company Disclosure Letter. Parent shall
provide to the Company, or shall cause to be provided to the Company, pursuant to mutually
acceptable agreements, funds in an amount sufficient, when added to the available cash balances of
the Company that the management of the Company reasonably determines are not necessary or useful to
maintain for purposes of the Company’s working capital needs, to pay off and discharge such
indebtedness for borrowed money (including any applicable prepayment penalties, fees or premiums),
on terms no less favorable to the Company than the terms that existed immediately prior to the date
hereof.

     (b) Parent and the Company shall cooperate and use their reasonable best efforts to cause
either Parent, the Company or their respective Subsidiaries to be substituted in all respects for
Abengoa and any of its Affiliates (excluding the Company and its Subsidiaries) under, and for
Abengoa and any of its Affiliates (excluding the Company and its Subsidiaries) to be released from,
no later than three months following the Offer Closing, any guaranty or other arrangement having
the economic effect of a guaranty by Abengoa or any of its Affiliates (excluding the Company and
its Subsidiaries) of indebtedness for borrowed money or other obligations of the Company and its
Subsidiaries set forth in Section 2.12 of the Company Disclosure Letter.

     Section 4.10 Officer and Director Indemnification.

     (a) From and after the Offer Closing Date through the sixth anniversary of the Offer Closing
Date, each of Parent and the Company shall, (i) indemnify and hold harmless each individual who at
the Offer Closing Date is, or at any time prior to the Offer Closing Date was, a director or
officer of the Company or of a Subsidiary of the Company (each, an “Indemnitee” and,
collectively, the “Indemnitees”) with respect to all claims, liabilities, losses, damages,
judgments, fines, penalties, costs (including amounts paid in settlement or compromise) and
expenses (including reasonable fees and expenses

31

 

of legal counsel) in connection with any claim, suit, action, proceeding or investigation
(whether civil, criminal, administrative or investigative), whenever asserted, based on or arising
out of, in whole or in part, (A) the fact that an Indemnitee was a director or officer of the
Company or such Subsidiary or (B) acts or omissions by an Indemnitee in the Indemnitee’s capacity
as a director, officer, employee or agent of the Company or such Subsidiary or taken at the request
of the Company or such Subsidiary (including in connection with serving at the request of the
Company or such Subsidiary as a director, officer, employee, agent, trustee or fiduciary of another
Person (including any employee benefit plan)), in each case under (A) or (B), at, or at any time
prior to, the Offer Closing Date (including any claim, suit, action, proceeding or investigation
relating in whole or in part to the Transactions or the enforcement of this provision or any other
indemnification or advancement right of any Indemnitee), to the fullest extent permitted under
applicable Law, and (ii) assume all obligations of the Company and such Subsidiaries to the
Indemnitees in respect of indemnification and exculpation from liabilities for acts or omissions
occurring at or prior to the Offer Closing Date as provided in the Company Organizational Documents
and the Organizational Documents of such Subsidiaries or in any agreement in existence as of the
date hereof and filed as an exhibit to or scheduled as an exhibit to any Company SEC Document
providing for indemnification between the Company and any director. Without limiting the
foregoing, Parent, from and after the Offer Closing Date until six years from the Offer Closing
Date, shall cause, unless otherwise required by Law, the Organizational Documents of the Company to
contain provisions no less favorable to the Indemnitees with respect to limitation of liabilities
of directors and officers and indemnification than are set forth as of the date of this Agreement
in the Organizational Documents, which provisions shall not be amended, repealed or otherwise
modified in a manner that would adversely affect the rights thereunder of the Indemnitees. In
addition, from the Offer Closing Date until six years from the Offer Closing Date, Parent shall,
and shall cause the Company to, advance any expenses (including fees and expenses of legal counsel)
of any Indemnitee under this Section 4.10 (including in connection with enforcing the indemnity and
other obligations referred to in this Section 4.10) as incurred to the fullest extent permitted
under applicable Law, provided that the individual to whom expenses are advanced provides
an undertaking to repay such advances if it shall be determined that such person is not entitled to
be indemnified pursuant to this Section 4.10(a).

     (b) The Company shall have the right, but not the obligation, to assume and control the
defense of any threatened or actual litigation, claim or proceeding relating to any acts or
omissions covered under this Section 4.10 (each, a “Claim”); provided that none of
Parent, the Purchaser or the Company shall settle, compromise or consent to the entry of any
judgment in any such Claim for which indemnification has been sought by an Indemnitee hereunder,
unless such settlement, compromise or consent includes an unconditional release of such Indemnitee
from all liability arising out of such Claim or such Indemnitee otherwise consents in writing to
such settlement, compromise or consent. Each of Parent, the Purchaser, the Company and the
Indemnitees shall

32

 

cooperate in the defense of any Claim and shall provide access to properties and individuals
as reasonably requested and furnish or cause to be furnished records, information and testimony,
and attend such conferences, discovery proceedings, hearings, trials or appeals, as may be
reasonably requested in connection therewith.

     (c) For the six-year period commencing immediately after the Offer Closing Date, Parent shall
cause the Company to maintain in effect the Company’s current directors’ and officers’ liability
insurance covering acts or omissions occurring at or prior to the Offer Closing Date with respect
to those individuals who are currently (and any additional individuals who prior to the Offer
Closing Date become) covered by the Company’s directors’ and officers’ liability insurance policy
on terms and scope with respect to such coverage, and in amount, no less favorable to such
individuals than those of such policy in effect on the date hereof (or Parent may substitute
therefor policies, issued by reputable insurers, of at least the same coverage with respect to
matters existing or occurring prior to the Offer Closing Date, including a “tail” policy);
provided, however, that, if the annual premium for such insurance shall exceed 200%
of the current annual premium (such 200% threshold, the “Maximum Premium”), then Parent
shall provide or cause to be provided a policy for the applicable individuals with the best
coverage as shall then be available at an annual premium not in excess of the Maximum Premium. The
Company may prior to the Offer Closing Date purchase, for an aggregate amount not to exceed the
aggregate Maximum Premium for six years, a six-year prepaid “tail policy” on terms and conditions
providing at least substantially equivalent benefits as the current policies of directors’ and
officers’ liability insurance maintained by the Company and its Subsidiaries with respect to
matters existing or occurring prior to the Offer Closing Date, covering without limitation the
Transactions. If such prepaid “tail policy” has been obtained by the Company, it shall be deemed
to satisfy all obligations to obtain insurance pursuant to this Section 4.10 and Parent shall cause
the Company to use its reasonable best efforts to cause such policy to be maintained in full force
and effect, for its full term, and to honor all of its obligations thereunder.

     (d) From and after the Offer Closing Date (but not prior thereto), the provisions of this
Section 4.10 are (i) intended to be for the benefit of, and shall be enforceable by, each
Indemnitee, his or her heirs and his or her representatives and (ii) in addition to, and not in
substitution for, any other rights to indemnification or contribution that any such individual may
have under the Company Organizational Documents, by contract or otherwise. The obligations of
Parent, the Purchaser and the Company under this Section 4.10 shall not be terminated or modified
in such a manner as to adversely affect the rights of any Indemnitee to whom this Section 4.10
applies unless (x) such termination or modification is required by applicable Law or (y) the
affected Indemnitee shall have consented in writing to such termination or modification (it being
expressly agreed that the Indemnitees to whom this Section 4.10 applies shall be third-party
beneficiaries of this Section 4.10).

33

 

     (e) In the event that Parent, the Purchaser or the Company or any of their respective
successors or assigns (i) consolidates with or merges into any other Person and is not the
continuing or surviving corporation or entity of such consolidation or merger or (ii) transfers or
conveys all or substantially all of its properties and assets to any Person, then, and in each such
case, proper provision shall be made so that the successors and assigns of Parent , the Purchaser
or the Company shall assume all of the obligations thereof set forth in this Section 4.10.

     (f) Nothing in this Agreement is intended to, shall be construed to or shall release, waive or
impair any rights to directors’ and officers’ insurance claims under any policy that is or has been
in existence with respect to the Company or any of its Subsidiaries for any of their respective
directors, officers or other employees, it being understood and agreed that the indemnification
provided for in this Section 4.10 is not prior to or in substitution for any such claims under such
policies.

     Section 4.11 Parent Guarantee. Parent hereby irrevocably and unconditionally
guarantees each and every obligation of Purchaser under this Agreement and the Offer Documents (the
“Guarantee”). Parent and Purchaser, and following the Offer Closing, and the Company,
shall not assert any position challenging the legal, valid and binding obligation of Parent with
respect to the Guarantee, or the enforceability of the Guarantee in accordance with its terms for
the benefit of the Company Stockholders.

     Section 4.12 Employee Matters.

     (a) From and after the Offer Closing, the Company shall, and Parent and Purchaser shall cause
the Company to, honor all compensation arrangements and agreements in accordance with their terms
as in effect immediately before the Offer Closing, provided that nothing in this Agreement shall
prohibit the amendment or termination of any Company benefit plans, arrangements and agreements in
accordance with their terms and applicable Law. For a period of twelve (12) months following the
Offer Closing, Parent shall provide, or shall cause to be provided, to each current and former
employee of the Company and its Subsidiaries other than such employees covered by collective
bargaining agreements or works council or other similar representative arrangements (“Company
Employees”) compensation opportunities and benefits (excluding equity-based compensation or
other long-term compensation and change of control benefits) that are substantially comparable, in
the aggregate, to the compensation opportunities and benefits provided to Company Employees
immediately before the Offer Closing (excluding equity-based compensation or other long-term
compensation and change of control benefits), it being understood that each element of compensation
and benefits may be different from the individual elements of compensation and benefits provided to
Company Employees prior to the Offer Closing.

     (b) For eligibility to participate under the employee benefit plans of Parent and its
Subsidiaries providing benefits to any Company Employees after the Offer

34

 

Closing (the “New Plans”), each Company Employee shall be credited with his or her
years of service with the Company and its Subsidiaries and their respective predecessors before the
Offer Closing, to the same extent as such Company Employee was entitled, before the Offer Closing,
to credit for such service under any similar Company employee benefit plan in which such Company
Employee participated immediately prior to the Offer Closing. In addition, such service shall also
be credited for purposes of determining the levels of severance pay and paid time off to which a
Company Employee is entitled. In addition, and without limiting the generality of the foregoing,
in the event that Parent causes the Company Employees to participant in New Plans in the plan year
in which the Offer Closing occurs (i) each Company Employee shall be immediately eligible to
participate, without any waiting time, in any and all such New Plans, unless such employee would
not have been eligible to participate under comparable plans of the Company or its Subsidiaries
immediately prior to the Offer Closing and (ii) for purposes of each New Plan providing medical,
dental, pharmaceutical and/or vision benefits to any Company Employee, Parent shall cause all
pre-existing condition exclusions and actively-at-work requirements of such New Plan to be waived
for such employee and his or her covered dependents, unless such conditions would not have been
waived under the comparable plans of the Company or its Subsidiaries in which such employee
participated immediately prior to the Offer Closing and Parent shall cause any eligible expenses
incurred by such employee and his or her covered dependents during the portion of the plan year of
the Company Benefit Plan in which such Company Employee participated immediately before the
consummation of the Offer (such plans, collectively, the “Old Plans”) ending on the date
such employee’s participation in the corresponding New Plan begins to be taken into account under
such New Plan for purposes of satisfying all deductible, coinsurance and maximum out-of-pocket
requirements applicable to such employee and his or her covered dependents for the applicable plan
year as if such amounts had been paid in accordance with such New Plan.

     Section 4.13 Minority Shareholder Protections.

     (a) Following the Offer Closing, (i) until such time as the Shares have been delisted
from NASDAQ, the Company Board shall consist of not more than twelve (12) directors, three (3) of
whom shall qualify as “independent directors” under the listing standards adopted by NASDAQ
applicable to members of a listed company’s audit committee, (ii) Purchaser shall use
reasonable best efforts to maintain the current listing of the Company’s Shares on NASDAQ and the
Company shall not voluntarily de-list the Company’s Shares from NASDAQ and (iii) the
Company shall (whether or not required) continue to file those periodic reports with the SEC
required to be filed by exchange listed foreign private issuers. The provisions in clause (i) and
clause (iii) of this Section 4.13(a) shall not apply if, at any time, Parent and/or
Purchaser shall beneficially own Shares representing not less than seventy percent (70%) of the
total authorized and issued Shares. The provisions in clause (ii) of this Section 4.13(a)
shall not apply if, at any time, both (x) Parent and/or Purchaser shall beneficially own
Shares representing not less than

35

 

seventy percent (70%) of the total authorized and issued Shares and (y) the
de-listing of the Company from NASDAQ is approved at a general shareholders’ meeting following the
procedure established in the Spanish company law. As promptly as practicable following the time as
of which Parent and/or Purchaser shall beneficially own seventy percent (70%) of the total
authorized and issued Shares, Parent and Purchaser shall use their reasonable best efforts to cause
the Company to call a general shareholders’ meeting for the purposes of obtaining the Redemption
Shareholder Approval.

     (b) Parent and Purchaser covenant and agree that approval by the Company Board of any
amendment, waiver, consent or termination of this Agreement or the Offer shall be effective only to
the extent approved by a majority of the “independent directors” (as defined in clause (i) of
Section 4.13(a)) of the Company. The provisions of this Section 4.13(b) shall not
apply following such time as none of the minority protections set forth in Section 4.13(a)
apply.

     Section 4.14 Equity Plan. Following the date of this Agreement and prior to the
Initial Expiration Time, the Company Board shall take such actions as shall be required to
terminate the Equity Plan, subject to and effective as of the first “subsequent offering period”
set forth in Section 1.1(f). Pursuant to such action, within five (5) Business Days from
the first day of the such initial “subsequent offering period”, the Company shall pay to each of
the Equity Plan’s participants the cash amount due to them under section 4.6.1 of the Equity Plan
and shall arrange for the transfer from the Company to each participant of the Shares due to them
under section 4.6.1 of the Equity Plan, which Shares (1) shall not exceed the aggregate
number of Shares set forth in the third sentence of Section 2.4(a) and (2) such
participants will be able to tender into the Offer during the first “subsequent offering period”
required to be provided as set forth in Section 1.1(f) and any other “subsequent offering
periods” which Purchaser may elect to extend.

ARTICLE V

TERMINATION

     Section 5.1 Termination. This Agreement may be terminated, and the transactions
contemplated hereby may be abandoned:

     (a) by the mutual written consent of the Company and Parent duly authorized by each of
their respective Boards of Directors or any duly constituted and authorized committee
thereof;

     (b) by either of the Company or Parent:

     (i) if the Offer Closing shall not have occurred on or before the Outside
Date; provided, however, that the right to terminate this Agreement
under this Section 5.1(b)(i) shall not be available to any party

36

 

(in the
case of Parent, including Purchaser) whose material breach of any representation,
warranty, covenant or agreement set forth in this Agreement has been the primary
cause of, or primarily resulted in, the failure of the Offer Closing to have
occurred on or before the Outside Date;

     (ii) prior to the Offer Closing, if any Governmental Authority of competent
jurisdiction shall have issued a final and non-appealable Order permanently
restraining, enjoining or otherwise prohibiting the acceptance for payment of, or
payment for, Shares pursuant to the Offer; provided, however, that
the right to terminate this Agreement pursuant to this Section 5.1(b)(ii)
shall not be available to any party (in the case of Parent, including Purchaser) if
the issuance of such final, non-appealable and non-appealable Order was primarily
due to the material failure by such party to perform any of its obligations under
this Agreement; or

     (iii) if the Offer (as it may have been extended pursuant to Section
1.1) expires as a result of the non-satisfaction of any Offer Condition or is
terminated or withdrawn in compliance with this Agreement without any Shares being
purchased thereunder; provided, however, that the right to
terminate this Agreement pursuant to this Section 5.1(b)(iii)shall not be
available to any party (in the case of Parent, including Purchaser) whose material
breach of this Agreement has been the primary cause or primarily resulted in the
non-satisfaction of any Offer Condition or the termination or withdrawal of the
Offer in compliance with this Agreement without any Shares being purchased
thereunder; or

     (c) by Parent, prior to the Offer Closing:

     (i) if the Company shall have breached any of its representations and
warranties set forth in this Agreement, which breach (A) would result in
any of the events set forth in clause (c) of Annex A attached hereto to
occur and (B) is not cured, or cannot be cured, by the Company within
fifteen (15) Business Days following receipt of written notice of such breach from
Parent (or if the Outside Date is less than fifteen (15) Business Days from the
notice by Parent, is not cured, or cannot be cured, by the Company by the Outside
Date); or

     (ii) if the Offer (as it may have been extended pursuant to Section
1.1) expires and, as of the applicable Expiration Time, either (A) the
Subject Shares shall not have been validly tendered into the Offer or (B) the Subject Shares shall have been validly withdrawn from the
Offer; or

37

 

     (iii) if the Offer (as it may have been extended pursuant to Section
1.1) expires and, prior to the applicable Expiration Time, the Company shall
not have (A) received and accepted the Offer Closing Resignation Letters,
(B) otherwise taken all actions necessary to co-opt the 4 individuals
designated by Purchaser as directors of the Company in accordance with Section
1.3 and (C) received and accepted the Other Resignation Letters;
provided, however, that the right to terminate this Agreement under
this Section 5.1(c)(iii) shall not be available to Parent if Purchaser does
not, pursuant to a written notice received by the Company at least twenty (20)
Business Days prior to the Offer Closing, designate four (4) individuals as
directors who each satisfy all applicable qualifications to be appointed as
directors through a co-opt procedure under Spanish Law and the Organizational
Documents of the Company, including that each of such individuals be a Company
Shareholder; or

     (d) by the Company, prior to the Offer Closing, if Parent or Purchaser shall have
breached or failed to perform any of its representations, warranties, covenants or
agreements set forth in this Agreement, which breach or failure to perform (i)
would result in (A) any representation or any representation or warranty of Parent
and Purchaser contained in this Agreement not being true and correct (without giving effect
to any qualifications or limitations as to materiality or Parent Material Adverse Effect
set forth therein) or (B) a failure by Parent or Purchaser to perform in all
material respects its agreements, covenants and obligations required to be performed by it
under this Agreement at or prior to such time and (ii) is not cured, or is
incapable of being cured, by Parent or Purchaser within fifteen (15) Business Days
following receipt of written notice of such breach or failure to perform from the Company
(or, if the Outside Date is less than fifteen (15) Business Days from the notice by the
Company, is not cured, or is incapable of being cured, by Parent or Purchaser by the
Outside Date); or

     (e) by the Company, (i) in order to enter into an agreement with respect to a Superior
Proposal or (ii) following a Company Adverse Recommendation Change.

     Section 5.2 Effect of Termination. In the event of the termination of this Agreement
as provided in Section 5.1, written notice of such termination shall be given to the other
party or parties, specifying the provision of this Agreement pursuant to which such termination is
made, and this Agreement shall forthwith become null and void (other than this Section 5.2
and Article VI, all of which shall survive termination of this Agreement in accordance with
their respective terms), and there shall be no liability on the part of Parent, Purchaser or the
Company or their respective Subsidiaries, or its or
their respective stockholders, controlling persons or Representatives, except (i) pursuant to
the sections specified in the immediately preceding parenthetical that survive such

38

 

termination and
(ii) that no such termination shall relieve any party from liability for fraud. The
Confidentiality Agreement will survive termination of this Agreement in accordance with its terms.

ARTICLE VI

MISCELLANEOUS

     Section 6.1 Fees and Expenses. Except as otherwise set forth in this Agreement, all
fees, costs and expenses incurred in connection with this Agreement and the transactions
contemplated hereby shall be paid by the party incurring such fees or expenses, whether or not the
transactions contemplated hereby are consummated.

     Section 6.2 Survival. The representations, warranties, covenants and agreements in
this Agreement shall terminate upon the Offer Closing or, except as otherwise provided in
Section 5.2, upon the termination of this Agreement pursuant to Section 5.1, as the
case may be; provided that the covenants and agreements set forth in this Agreement which
contemplate performance after the Offer Closing shall survive the Offer Closing in accordance with
their terms and those set forth in Section 5.2 and this Article VI shall survive
termination indefinitely. The Confidentiality Agreement shall survive termination of this
Agreement in accordance with its terms.

     Section 6.3 Amendment or Supplement. At any time prior to the Offer Closing, this
Agreement may be amended or supplemented in any and all respects by written agreement of the
parties hereto, duly authorized by each respective Board of Directors or any duly constituted and
authorized committee thereof.

     Section 6.4 Extension of Time, Waiver, Etc. At any time prior to the Offer Closing,
any party may, subject to applicable Law, (a) waive any inaccuracies in the representations
and warranties of any other party hereto, (b) extend the time for the performance of any of
the obligations or acts of any other party hereto or (c) to the extent permitted by
applicable Law, waive compliance by the other party with any of the agreements contained in this
Agreement or, except as otherwise provided in this Agreement, waive any of such party’s conditions.
Notwithstanding the foregoing, no failure or delay by the Company, Parent or Purchaser in
exercising any right hereunder shall operate as a waiver of rights, nor shall any single or partial
exercise of such rights preclude any other or further exercise of such rights or the exercise of
any other right hereunder. Any agreement on the part of a party hereto to any such extension or
waiver shall be valid only if set forth in an instrument in writing signed on behalf of such party.

     Section 6.5 Assignment. Neither this Agreement nor any of the rights, interests or
obligations hereunder shall be assigned, in whole or in part, by any of the
parties without the prior written consent of the other parties; provided that
(i) Purchaser may assign any of or all of its rights, interests and obligations under this
Agreement to

39

 

Parent and (ii) Parent or Purchaser may assign any or all of its rights,
interests and obligations under this Agreement to any direct or indirect wholly owned Subsidiary of
Parent, but no such assignment shall relieve Parent or Purchaser of any of its respective
obligations under this Agreement. Subject to the preceding sentence, this Agreement shall be
binding upon, inure to the benefit of, and be enforceable by, the parties hereto and their
respective successors and permitted assigns. Any purported assignment not permitted under this
Section 6.5 shall be null and void.

     Section 6.6 Counterparts. This Agreement may be executed in counterparts (each of
which shall be deemed to be an original but all of which taken together shall constitute one and
the same agreement) and shall become effective when one or more counterparts have been signed by
each of the parties and delivered to the other parties. Copies of executed counterparts
transmitted by telecopy, telefax or electronic transmission shall be considered original executed
counterparts for purposes of this Section 6.6 provided that receipt of copies of such
counterparts is confirmed.

     Section 6.7 Entire Agreement; No Third-Party Beneficiaries. This Agreement, including
the Company Disclosure Letter, Annex A attached hereto and the Confidentiality Agreement
constitute the entire agreement, and supersede all prior agreements and understandings, both
written and oral, among the parties with respect to the subject matter of this Agreement and the
Confidentiality Agreement. No provision of this Agreement is intended to confer any rights,
benefits, remedies, obligations or liabilities hereunder upon any Person other than the parties and
their respective successors and assigns other than the provisions set forth in Section
4.10.

     Section 6.8 Governing Law. This Agreement shall be governed by, and construed in
accordance with, the Laws of Spain, except to the extent that U.S. securities Law is mandatorily
applicable pursuant to U.S. Law.

     Section 6.9 Arbitration.

     (a) All disputes arising out of or in connection with this Agreement shall be finally settled
under the Rules of Arbitration of the International Chamber of Commerce by three (3) arbitrators
appointed in accordance with the said Rules. For purposes of appointing arbitrators in accordance
with the said Rules, Parent and Purchaser shall be considered one party and the Company shall be
considered the other party. The seat of the arbitration shall be Madrid (Spain), the language of
the arbitration shall be English and the arbitration shall be arbitration in law. For the
avoidance of doubt, the arbitrators shall have authority to grant specific performance in
accordance with Section 6.10. The parties submit to jurisdiction in the Courts of Madrid
for the limited purpose of enforcing this agreement to arbitrate.

     (b) Judgment upon the award may be entered by any court having jurisdiction thereof or having
jurisdiction over the relevant party or its assets.

40

 

     Section 6.10 Specific Enforcement. The parties agree that irreparable damage would
occur in the event that any of the provisions of this Agreement were not performed in accordance
with their specific terms or were otherwise breached. Accordingly, the parties agree that, if for
any reason Parent, Purchaser or the Company shall have failed to perform its obligations under this
Agreement, then the party seeking to enforce this Agreement against such nonperforming party under
this Agreement shall be entitled to specific performance and injunctive and other equitable relief,
and the parties further agree to waive any requirement for the securing or posting of any bond in
connection with the obtaining of any such injunctive or other equitable relief, this being in
addition to any other remedy to which they are entitled at Law or in equity.

     Section 6.11 Notices. All notices, requests and other communications to any party
hereunder shall be in writing and shall be deemed given if delivered personally, facsimiled (which
is confirmed) or by overnight courier (providing proof of delivery) to the parties at the following
addresses:

     If to Parent or Purchaser, to:

Schneider Electric S.A.

35 rue Joseph Monier

92500 Rueil Malmaison

France

Attention: Peter Wexler, General Counsel

Facsimile: +1-401-788-2766

     with a copy (which shall not constitute notice) to:

Debevoise & Plimpton LLP

919 Third Avenue

New York, New York 10022

Attention: Paul S. Bird

                 E. Raman Bet-Mansour

Facsimile: +1-212-909-6836

	 	 	and:

Uria Menendez

Prinicipe de Vergraa, 187

Plaza de Rodrigo Uria

28002 — Madrid

Spain

Attention: Christian Hoedl

Facsímile: +34 915 860 403

41

 

     If to the Company, to:

Telvent GIT, S.A.

Valgrande 6

Alcobendas

Madrid — 28018

Spain

Attention: Ignacio González Dominguez

Facsimile: +34 917 147 008

     with a copy (which shall not constitute notice) to:

Squire, Sanders & Dempsey (US) LLP

4900 Key Tower

127 Public Square

Cleveland, Ohio 44114-1304

Attention: Laura D. Nemeth

Facsimile: +1-216-479-8780

or such other address or facsimile number as such party may hereafter specify by like notice to the
other parties hereto. All such notices, requests and other communications shall be deemed received
on the date of receipt by the recipient if received prior to 5 P.M., local time, in the place of
receipt and such day is a Business Day in the place of receipt. Otherwise, any such notice,
request or communication shall be deemed not to have been received until the next succeeding
Business Day in the place of receipt.

     Section 6.12 Severability. If any term or other provision of this Agreement is
determined by a court of competent jurisdiction to be invalid, illegal or incapable of being
enforced by any rule of Law or public policy, all other terms, provisions and conditions of this
Agreement shall nevertheless remain in full force and effect. Upon such determination that any
term or other provision is invalid, illegal or incapable of being enforced, the parties hereto
shall negotiate in good faith to modify this Agreement so as to effect the original intent of the
parties as closely as possible to the fullest extent permitted by applicable Law in an acceptable
manner to the end that the transactions contemplated hereby are fulfilled to the extent possible.

     Section 6.13 Definitions. As used in this Agreement, the following terms have the
meanings ascribed thereto below:

     “Abengoa” has the meaning set forth in the recitals.

     “Abengoa Irrevocable Undertaking Agreement” has the meaning set forth in the recitals.

42

 

     “Affiliate” shall mean, as to any Person, any other Person that, directly or
indirectly, controls, or is controlled by, or is under common control with, such Person. For this
purpose, “control” (including, with its correlative meanings, “controlled by” and “under common
control with”) shall mean the possession, directly or indirectly, of the power to direct or cause
the direction of management or policies of a Person, whether through the ownership of securities or
partnership or other ownership interests, by contract or otherwise, including with respect to the
Company and its Subsidiaries organized under the Law of Spain, as defined in Article 42 of the
Spanish commercial code.

     “Affiliate Transaction” has the meaning set forth in Section 2.12.

     “Agreement” has the meaning set forth in the recitals.

     “Alternative Proposal” has the meaning set forth in Section 4.2(d).

     “Alternative Transaction Notice” has the meaning set forth in Section 4.2(c).

     “Assets” means all of the assets (real and personal, tangible and intangible,
including all Intellectual Property) that are used or held for use in connection with the business
and operations of the Company and its Subsidiaries as conducted as of the date hereof and at any
time between the date hereof and the Offer Closing Date or are reflected on the Company Balance
Sheet or were acquired after the Balance Sheet Date.

     “Balance Sheet Date” has the meaning set forth in Section 2.6.

     “Bankruptcy and Equity Exception” has the meaning set forth in Section 2.2(a).

     “Business Day” shall mean a day except a Saturday, a Sunday or other day on which the
SEC or banks in the City of New York are authorized or required by Law to be closed.

     “Claim” has the meaning set forth in Section 4.10(b).

     “Code” has the meaning set forth in Section 1.1(h).

     “Company” has the meaning set forth in the preamble.

     “Company Adverse Recommendation Change” has the meaning set forth in Section
4.2(c).

     “Company Balance Sheet” has the meaning set forth in Section 2.6.

     “Company Board” has the meaning set forth in the recitals.

43

 

     “Company Contract” any Contract to which the Company or any of its Subsidiaries
is a party or by which the Company, any of its Subsidiaries or any of the Assets is bound.

     “Company Convertible Noteholders” has the meaning set forth in Section 4.7(b).

     “Company Disclosure Letter” has the meaning set forth in Article II.

     “Company Employees” has the meaning set forth in Section 4.12(a).

     “Company Permit” means any license, franchise, permit, certificate, approval or other
similar authorization issued by a Governmental Authority and affecting, or relating to, the Assets
or required for the operation of the business of the Company and its Subsidiaries.

     “Company Plan” shall mean each written or oral employee benefit plan, scheme, program,
policy, arrangement and contract (including any bonus, deferred compensation, stock bonus, stock
purchase, restricted stock, stock option or other equity-based arrangement, and any employment,
termination, retention, bonus, change in control or severance agreement, plan, program, policy,
arrangement or contract) for the benefit of any current or former director, officer, employee or
consultant of the Company or any Subsidiary that, in each case, is maintained, sponsored or
contributed to, or required to be contributed to, by the Company or any Subsidiary, or to which the
Company or a Subsidiary is party, or with respect to which any of them could incur liability under
the Code or the Employee Retirement Income Security Act of 1974, as amended or any similar non-U.S.
Law.

     “Company Recommendation” has the meaning set forth in Section 1.2(a).

     “Company SEC Documents” has the meaning set forth in Section 2.5(a).

     “Company Securities” has the meaning set forth in Section 2.4(b).

     “Company Shareholders” has the meaning set forth in the recitals.

     “Confidentiality Agreement” has the meaning set forth in Section 4.2(b).

     “Contract” means any note, bond, mortgage, indenture, deed of trust, loan, credit
agreement, lease, license, permit, concession, franchise, purchase order, sales order contract,
agreement or other instrument, understanding or obligation, whether written or oral.

     “Convertible Notes” means the Company’s 5.50% Senior Subordinated Convertible Notes
due 2015 issued pursuant to the Convertible Notes Indenture.

44

 

     “Convertible Notes Indenture” means the Indenture, dated as of April 19, 2010, by and
among the Company, BNY Corporate Trustee Services Limited, as trustee, and the Bank of New York
Mellon, as note registrar, paying agent and conversion agent, as it may be amended from time to
time.

     “Convertible Notes Offer” has the meaning set forth in Section 4.7(a).

     “Convertible Notes Offer Conditions” has the meaning set forth in Section
4.7(a).

     “Convertible Notes Offer Documents” has the meaning set forth in Section
4.7(b).

     “Delay” has the meaning set forth in Section 4.1(b).

     “Director Ratification” has the meaning set forth in Section 1.3.

     “DMS Joint Venture” means Telvent DMS LLC for power engineering Novi Sad, a limited
liability company organized under the Laws of the Republic of Serbia.

     “DMS Contracts” has the meaning set forth in Section 2.9(a).

     “DMS JV Securities” has the meaning set forth in Section 2.9(b).

     “Equity Plan” has the meaning set forth in Section 2.4(a).

     “Equity Plan Participants” has the meaning set forth in Section 4.14.

     “Equity Plan Shares” has the meaning set forth in Section 4.14.

     “EU Merger Control Regulation” means Council Regulation (EC) No. 139/2004 of the
Council of the European Union, as amended.

     “Exchange Act” has the meaning set forth in Section 1.1(a).

     “Expiration Time” has the meaning set forth in Section 1.1(e).

     “FCPA” has the meaning set forth in Section 2.11(b).

     “GAAP” has the meaning set forth in Section 2.5(b).

     “Governmental Authority” shall mean any federal, state or local, domestic, foreign or
multinational government, court, regulatory or administrative agency, commission, court, body,
entity or authority or other governmental instrumentality or non-governmental self-regulating
agency.

45

 

     “Government Official” means (i) an executive, official, employee or agent of a
governmental department, agency or instrumentality, (ii) a director, officer, employee or
agent of a wholly or partially government-owned or -controlled company or business, (iii) a
political party or official thereof, or candidate for political office, or (iv) an
executive, official, employee or agent of a Public International Organization (defined as any
organization, such as the United Nations or European Union, having two or more governments as
members).

     “Guarantee” has the meaning set forth in Section 4.11.

     “HSR Act” shall mean the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended, and its rules and regulations.

     “Indemnitee(s)” has the meaning set forth in Section 4.10(a).

     “Initial Expiration Time” has the meaning set forth in Section 1.1(e).

     “Intellectual Property” means all trademarks, service marks, trade names, trade dress,
including all goodwill associated with the foregoing, domain names, copyrights, Software, Internet
Web sites, mask works and other semiconductor chip rights, and similar rights, and registrations
and applications to register or renew the registration of any of the foregoing, patents and patent
applications, inventions, processes, designs, formulae, trade secrets, know-how, ideas, research
and development, data, databases, confidential information and all similar intellectual property
rights.

     “Intervening Event” has the meaning set forth in Section 4.2(c).

     “Irrevocable Undertaking Agreements” has the meaning set forth in the recitals.

     “Knowledge” shall mean (i) in the case of Parent, the actual knowledge, after
due inquiry, of any executive officer or director of Parent and (ii) in the case of the
Company, the actual knowledge, after due inquiry, of the individuals listed in Section 6.13
of the Company Disclosure Letter.

     “Law” has the meaning set forth in Section 2.10.

     “Lien” shall mean, with respect to any asset (including any security), any mortgage,
deed of trust, lien (statutory or other), pledge, charge, security interest, restriction, option,
easement, right-of-way, encroachment or other encumbrance in respect of such asset.

     “Management Irrevocable Undertaking Agreement” has the meaning set forth in the
recitals.

46

 

     “Material Adverse Effect” shall mean any change, effect, event, occurrence, state of
facts or development that individually or in the aggregate is or could reasonably be expected to be
materially adverse to (1) the business, results of operations or financial condition of the
Company and its Subsidiaries taken as a whole or (2) the ability of the Company to perform
its obligations under this Agreement or to consummate the transactions contemplated by this
Agreement by the Outside Date; provided, however, that none of the following, and
no effects, changes, events or occurrences, individually or in the aggregate, arising out of,
resulting from or attributable to any of the following shall constitute or be taken into account in
determining whether a Material Adverse Effect has occurred or would reasonably be expected to
occur: (A) conditions generally affecting (1) the industry in which the Company and its
Subsidiaries operate, or (2) the economy, credit or financial or capital markets, in Spain or
elsewhere in the world, including changes in interest or exchange rates, or (B) effects, changes,
events or occurrences to the extent arising out of, resulting from or attributable to (1) actual or
prospective changes after the date of this Agreement in Law or in generally accepted accounting
principles or in accounting standards or in the interpretation or enforcement of any of the
foregoing, or any changes or prospective changes in general legal, regulatory or political
conditions, (2) other than for purposes of the representations and warranties made in Section
2.3, the announcement of this Agreement or the commencement or consummation of the Offer, (3)
acts of war or military action, sabotage or terrorism, or any escalation or worsening of any such
acts of war or military action, sabotage or terrorism, (4) earthquakes, hurricanes, tornadoes or
other natural disasters, (5) any action taken by the Company or its Subsidiaries (x) that is
required by this Agreement, (y) taken with Parent’s written consent or (z) at Parent’s written
request, (6) any change resulting or arising from the identity of, or any facts or circumstances
relating to, Parent, Purchaser, Abengoa or any of their respective Affiliates, (7) any change or
prospective change in the Company’s credit ratings, (8) any decline in the market price, or change
in trading volume, of the capital stock of the Company or (9) any failure to meet any internal or
public projections, forecasts, guidance, estimates of revenue, earnings, cash flow or cash position
(it being understood that the exceptions in clauses (7), (8) and (9) shall not prevent or otherwise
affect a determination that the underlying cause of any such decline or failure referred to therein
(if not otherwise falling within any of the exceptions provided by clause (A) and clauses (B)(1)
through (6) hereof) is a Material Adverse Effect); provided, however, that any
effect, change, event or occurrence referred to in clause (A) or clause (B)(1), (3) or (4) may be
taken into account in determining whether or not there has been a Material Adverse Effect solely if
such effect, change, event or occurrence has a materially disproportionate adverse effect on the
Company and its Subsidiaries, taken as a whole, as compared to other participants in the industries
in which the Company and its Subsidiaries primarily operate (in which case only the incremental
disproportionate impact or impacts may be taken into account in determining whether a Material
Adverse Effect has occurred or would reasonably be expected to occur).

     “Materially Burdensome Condition” has the meaning set forth in Section 4.3(d).

47

 

     “Maximum Premium” has the meaning set forth in Section 4.10(c).

     “Minimum Condition” has the meaning set forth in Section 1.1(b).

     “NASDAQ” has the meaning set forth in the recitals.

     “New Plans” has the meaning set forth in Section 4.12(b).

     “Offer” has the meaning set forth in the recitals.

     “Offer Closing” has the meaning set forth in Section 1.1(f).

     “Offer Closing Date” has the meaning set forth in Section 1.1(f).

     “Offer Closing Resignation Letters” means, collectively, (i) the
irrevocable letters of resignation of each of the Abengoa Nominees (as defined in the Abengoa
Irrevocable Undertaking Agreement) required pursuant to Section 3.2 of the Abengoa Irrevocable
Undertaking Agreement and (ii) the irrevocable letter of resignation of 1 director of the
Company (other than the Abengoa Nominees (as defined in the Abengoa Irrevocable Undertaking
Agreement) the effectiveness of which are conditioned solely upon the occurrence of the Offer
Closing and the payment for all Shares validly tendered and not withdrawn as of the Offer Closing.

     “Offer Conditions” has the meaning set forth in Section 1.1(b).

     “Offer Documents” has the meaning set forth in Section 1.1(d).

     “Offer Price” has the meaning set forth in the recitals.

     “Offer to Purchase” has the meaning set forth in Section 1.1(c).

     “Old Plans” has the meaning set forth in Section 4.12(b).

     “Order” shall mean any order, writ, judgment, injunction, decree, determination or
award.

     “Organizational Documents” means the deed of incorporation, articles of incorporation,
certificate of incorporation, articles of association, charter, by-laws, articles of formation,
certificate of formation, regulations, operating agreement, certificate of limited partnership,
partnership agreement and all other similar documents, instruments or certificates executed,
adopted or filed in connection with the creation, formation or organization of a Person, including
any amendments thereto.

     “Other Resignation Letters” means, collectively, the irrevocable letters of
resignation of 3 directors of the Company (other than the directors designated by Parent

48

 

pursuant to Section 1.3) the effectiveness of which are conditioned solely upon the
occurrence of (i) the co-option of the four (4) individuals designated by the Purchaser as
directors of the Company to fill the vacancies on the Board caused by the resignation of the four
(4) the directors of the Company pursuant to the Offer Closing Resignation Letters and (ii)
Parent and Purchaser owning, in the aggregate, a majority of the issued and outstanding Shares.

     “Outside Date” has the meaning set forth in Section 1.1(e).

     “Parent” has the meaning set forth in the preamble.

     “Parent Material Adverse Effect” shall mean any change, effect, event, occurrence,
state of facts or development that individually or in the aggregate is or could reasonably be
expected to be materially adverse to the ability of Parent and Purchaser to perform their
obligations under this Agreement or to consummate the transactions contemplated by this Agreement
by the Outside Date.

     “Permitted Liens” means Liens that, individually or in the aggregate, do not
materially impair, and would not reasonably be expected to materially impair, the value or the
continued use and operation of the assets to which they relate.

     “Person” shall mean an individual, a corporation, a limited liability company, a
partnership, an association, a trust or any other entity, including a Governmental Authority.

     “Purchaser” has the meaning set forth in the preamble.

     “Redemption Shareholder Approval” has the meaning set forth in the recitals.

     “Regulatory Law” has the meaning set forth in Section 4.3(a).

     “Representatives” means, with respect to any Person, the employees, officers and
directors of such Person or any of its Affiliates and the investment bankers, attorneys, financial
advisors, accountants, agents or other advisors or representatives of any such Person or any of its
Affiliates.

     “Schedule 14D-9” has the meaning set forth in Section 1.2(a).

     “Schedule TO” has the meaning set forth in Section 1.1(d).

     “SEC” has the meaning set forth in Section 1.1(d).

     “Securities Act” means the Securities Act of 1933, as amended, together with the rules
and regulations promulgated thereunder.

49

 

     “Shares” has the meaning set forth in the recitals.

     “Software” means all computer software, including but not limited to, application
software, system software and firmware, including all source code and object code versions thereof,
in any and all forms and media, and all related documentation.

     “SOX” has the meaning set forth in Section 2.5(a).

     “Subject Shares” has the meaning set forth in the Abengoa Irrevocable Undertaking
Agreement.

     “Subsidiary” when used with respect to any party, shall mean any corporation, limited
liability company, partnership, association, trust or other entity of which securities or other
ownership interests representing more than 50% of the equity and more than 50% of the ordinary
voting power (or, in the case of a partnership, more than 50% of the general partnership interests)
are, as of such date, owned by such party or one or more Subsidiaries of such party or by such
party and one or more Subsidiaries of such party.

     “Superior Proposal” has the meaning set forth in Section 4.2(e).

     “Tax Returns” shall mean any return, report, claim for refund, estimate, information
return or statement or other similar document filed or required to be filed with any Governmental
Authority with respect to Taxes, including any schedule or attachment thereto, and including any
amendment thereof.

     “Taxes” shall mean (i) all federal, state, local or foreign taxes, charges,
fees, imposts, levies or other assessments, including all net income, gross receipts, capital,
sales, use, ad valorem, value added, transfer, franchise, profits, inventory, capital stock,
license, withholding, payroll, employment, social security, unemployment, excise, severance, stamp,
occupation, property and estimated taxes, customs duties, fees, assessments and charges of any kind
whatsoever and (ii) all interest, penalties, fines, additions to tax or additional amounts
imposed by any Governmental Authority in connection with any item described in clause (i).

     “Treasury Regulations” means the regulations prescribed under the Code.

     Section 6.14 Interpretation.

     (a) When a reference is made in this Agreement to an Article, a Section, Annex or Schedule,
such reference shall be to an Article of, a Section of, or an Annex or Schedule to, this Agreement
unless otherwise indicated. The table of contents and headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or interpretation of this
Agreement. Whenever the words

50

 

“include,” “includes” or “including” are used in this Agreement, they shall be deemed to be
followed by the words “without limitation.” The words “hereof,” “herein” and “hereunder” and words
of similar import when used in this Agreement shall refer to this Agreement as a whole and not to
any particular provision of this Agreement. All terms defined in this Agreement shall have the
defined meanings when used in any document made or delivered pursuant hereto unless otherwise
defined therein. The definitions contained in this Agreement are applicable to the singular as
well as the plural forms of such terms and to the masculine as well as to the feminine and neuter
genders of such term. Any statute defined or referred to in this Agreement or in any agreement or
instrument that is referred to in this Agreement means such statute as from time to time amended,
modified or supplemented, including by succession of comparable successor statutes and references
to all attachments thereto and instruments incorporated therein. References to a Person are also
to its permitted successors and assigns.

     (b) The parties hereto have participated jointly in the negotiation and drafting of this
Agreement and, in the event an ambiguity or question of intent or interpretation arises, this
Agreement shall be construed as jointly drafted by the parties hereto and no presumption or burden
of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision
of this Agreement.

[signature page follows]

51

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the date first above written.

	 	 	 	 	 
	 	SCHNEIDER ELECTRIC, S.A.

 	 
	 	By:  	/s/ Emmanuel Babeau
 	 
	 	 	Name:  	Emmanuel Babeau 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	SCHNEIDER ELECTRIC ESPAÑA, S.A.U.

 	 
	 	By:  	/s/ Elena González Anta
 	 
	 	 	Name:  	Elena González Anta 	 
	 	 	Title:  	Chief Legal Counsel 	 
	 
	 	TELVENT GIT, S.A.

 	 
	 	By:  	/s/ Ignacio Gonzalez Dominguez
 	 
	 	 	Name:  	Ignacio Gonzalez Dominguez 	 
	 	 	Title:  	Chairman & CEO 	 
	 

[Signature Page to Transaction Agreement]

 

ANNEX A

OFFER CONDITIONS

     Reference is made to the Transaction Agreement, dated as of May 31, 2011 (the
“Agreement”), by and between SCHNEIDER ELECTRIC, S.A., a société anonyme organized under
the laws of the Republic of France (“Parent”) and SCHNEIDER ELECTRIC ESPAÑA, S.A.U., a
sociedad anónima unipersonal organized under the laws of the Kingdom of Spain and an indirect
wholly owned subsidiary of Parent (“Purchaser”), of the one part, and TELVENT GIT, S.A., a
sociedad anónima organized under the laws of the Kingdom of Spain (the “Company”), of the
other part. Capitalized terms used in this Annex A and not otherwise defined herein shall have the
meanings assigned to them in the Agreement.

     Notwithstanding any other provisions of the Offer or the Agreement, and in addition to (and
not in limitation of) the rights and obligations of Purchaser to extend, terminate and/or modify
the Offer (subject to the terms and conditions of the Agreement), Purchaser shall not be required
to, and Parent shall not be required to cause Purchaser to, accept for payment or, subject to any
applicable rules and regulations of the SEC, including Rule 14e-1(c) under the Exchange Act, pay
for any tendered Shares, if as of any then-scheduled Expiration Time, (i) the Minimum
Condition shall not have been satisfied, (ii) (x) any waiting period (and any
extension thereof) applicable to the transactions contemplated hereby, including the Offer, under
the HSR Act shall not have expired or been terminated, (y) the European Commission shall
not have issued a decision under Article 6(1)(b) or 8(1) or 8(2) of the EU Merger Control
Regulation (or shall be deemed to have done so under Article 10(6) thereof) declaring the
transactions contemplated by this Agreement compatible with the EC Common Market or (z) any
other regulatory approval required under any Regulatory Law referenced in Sections
2.2(b)(ii) or Section 3.2(b)(ii) of the Agreement which in the reasonable judgment of
Parent is required or advisable to consummate the transactions contemplated hereby, including the
Offer, shall not have been obtained or shall not remain in full force and effect (the expiration or
termination, decision and other regulatory approvals referenced in clause (x), (y) and (z),
collectively, the “Requisite Regulatory Approvals”), (iii) any Materially
Burdensome Condition shall have been imposed, or would reasonably be expected to be imposed, in
connection with obtaining any of the Requisite Regulatory Approvals, or (iv) any of the
following events shall have occurred and continue to exist:

     (a) Injunctions or Restraints. Any restraining order, preliminary or
permanent injunction or other Order or similar legal restraint or prohibition shall have
been issued by a Governmental Entity of competent jurisdiction and shall be in effect
preventing the consummation of the Offer or imposing a Materially Burdensome Condition.

A-1

 

     (b) Governmental Action. Any litigation, arbitration, suits, actions, or
proceedings of any nature shall have been instituted by a Governmental Entity and shall
remain pending that (x) is seeking to restrain or prohibit the consummation of the
Offer or impose a Materially Burdensome Condition or (y) would reasonably be
expected to result in a restraining order, preliminary or permanent injunction or other
Order or similar legal restraint or prohibition preventing the consummation of the Offer or
imposing a Materially Burdensome Condition.

     (c) Representations and Warranties. (x)(i) Any representation
or warranty of the Company contained in the first sentence of Section 2.4(a)
(except for such inaccuracies as are de minimis in the aggregate) and clause (iii) of
Section 2.7 shall not be true and correct in all respects, (ii) any
representation or warranty contained in Section 2.2(a), Section 2.2(c),
Section 2.4(b), Section 2.4(c) shall not be true and correct in all
material respects, or (iii) any representation or warranty of the Company contained
in any other section of the Agreement shall not be true and correct (without giving effect
to any qualifications or limitations as to materiality, or Material Adverse Effect set
forth therein), in the case of each of clauses (i), (ii) and (iii), as of the date of the
Agreement and as of immediately prior to the expiration of the Offer as though made at and
as of such time (except to the extent that such representation or warranty expressly
relates to a specified date, in which case as of such specified date), except, in the case
of this clause (iii), where the failure of such representations and warranties to be true
and correct as of such dates, individually or in the aggregate, has not had and could not
reasonably be expected to have a Material Adverse Effect or (y) the Company shall
have failed to deliver to Parent a certificate signed on its behalf by its Chief Executive
Officer or other senior executive officer, dated as of the date on which the then-scheduled
Expiration Time occurs, certifying that the condition set forth in clause (x) of this item
(c) shall not have occurred and do not continue to exist.

     (d) Agreement. The Agreement shall have been terminated in accordance with
its terms.

     The foregoing conditions are for the sole benefit of Parent and Purchaser, may be asserted by
Parent or Purchaser, regardless of the circumstances giving rise to any such conditions, and,
subject to the terms of the Agreement, may be waived by Parent or Purchaser, in whole or in part,
at any time and from time to time in the sole discretion of Parent or Purchaser. The failure or
delay by Parent or Purchaser at any time to exercise any of the foregoing rights shall not be
deemed a waiver of any such right, and each such right shall be deemed an ongoing right that may be
asserted at any time and from time to time.

A-2exv4w2

Exhibit 4.2

IRREVOCABLE UNDERTAKING AGREEMENT

in relation to

THE ACCEPTANCE OF A TENDER OFFER FOR THE SHARES OF 

TELVENT GIT, S.A

between

SCHNEIDER ELECTRIC, S.A. and SCHNEIDER ELECTRIC ESPAÑA, S.A.U.

and

ABENGOA, S.A., SIEMA, A.G., and TELVENT CORPORATION, S.L.

31 May 2011

 

 

Index

	 	 	 	 	 

	I. PARTIES
	 	 	1	 
	II. RECITALS
	 	 	2	 
	III. CLAUSES
	 	 	3	 
	1. Agreement to Tender
	 	 	4	 
	2. Agreement to Vote
	 	 	4	 
	3. Undertakings of the Selling Stockholders
	 	 	5	 
	4. Undertakings of the Bidder Parties
	 	 	8	 
	5. Representations and Warranties of the Bidder Parties
	 	 	9	 
	6. Representations and Warranties of the Selling Stockholders
	 	 	10	 
	7. Indemnity undertaking
	 	 	13	 
	8. No Managing Interest
	 	 	13	 
	9. Term
	 	 	13	 
	10. Termination of the Agreement
	 	 	14	 
	11. Confidentiality; Public Announcements
	 	 	14	 
	12. Specific Performance
	 	 	15	 
	13. Assignment; Third-Party Beneficiaries
	 	 	16	 
	14. Costs and taxes
	 	 	16	 
	15. Interpretation Standards
	 	 	16	 
	16. Notices
	 	 	17	 
	17. Governing law
	 	 	20	 
	18. Arbitration
	 	 	20	 
	SCHEDULE
	 	 	23	 

 

 

31 May 2011

I. PARTIES

Of the one part,

SCHNEIDER ELECTRIC, S.A., a French société anonyme with its registered office at 35, rue Joseph
Monier, 92500 Rueil-Malmaison, France, registered in the Commercial and Companies Registry of
Nanterre under number 542 048 574 (hereinafter, “SE” or the “Bidder”), duly represented herein by
Emmanuel Babeau; and

SCHNEIDER ELECTRIC ESPAÑA, S.A.U., a company organized under the laws of the Kingdom of Spain and
an indirect wholly owned subsidiary of the Bidder, with its corporate domicile in Barcelona, C/Bac
de Roda, n° 52, edificio A, registered with the Companies’ registry of Barcelona in Tomo 23.584,
Folio 124, Sección 8a, Hojo B-57.594, and having C.I.F. A-08008450 (hereinafter,
“BIDCO”), duly represented herein by Elena González-Anta;

(the Bidder and BIDCO together referred to as the “Bidder Parties”)

and of the other part,

ABENGOA, S.A. a company organized under the laws of the Kingdom of Spain with corporate domicile in
Sevilla, Campus Palmos Atlas, C/Energia Salas 1, registered with the Commercial Registry of Sevilla
under Tomo 47, Folio 107, Hoja 2.921, and having C.I.F. A-41002288 (hereinafter, “ABENGOA”), duly
represented herein by Miguel Angel Jimenez de Velasco Mozario;

SIEMA, A.G., a company organized under the laws of Switzerland and a wholly owned subsidiary of
ABENGOA, with its address at Poststrasse 30, 6300 Zug, Switzerland, registered under number
CH-170.3.023.234-4 (hereinafter, “SIEMA”), duly represented herein by Amando Sanchez Falcón;

TELVENT CORPORATION, S.L., a company organized under the laws of the Kingdom of Spain and a wholly
owned subsidiary of ABENGOA, with its corporate domicile in Alcobendas (Madrid), C/Valgrande 6,
registered with the Commercial Registry of Madrid under Tomo 20.168, Folio 31, Sección
8a, Hoja M-356.116, and having C.I.F. B-84023340 (hereinafter, “TELVENT Corporation”)
duly represented herein by Amando Sanchez Falcón;

Page 1

 

(SIEMA and TELVENT Corporation together referred to as the “Company Stockholders”, and ABENGOA and
the Company Stockholders collectively referred to as the “Selling Stockholders”);

The expression the “Parties” shall refer to the Bidder, BIDCO, ABENGOA, SIEMA and TELVENT
Corporation.

	II.	 	RECITALS

	I.	 	Whereas TELVENT GIT, S.A. is a company organized under the laws of the Kingdom of
Spain, with corporate domicile in Alcobendas (Madrid), Valgrande 6, registered with the
Commercial Registry of Madrid, under Tomo 15.370, Folio 164, Hoja M-257879, and having C.I.F.
A-82631623 (hereinafter, “TELVENT” or the “Company”).
	 
	II.	 	Whereas the share capital of TELVENT currently amounts to
€102,454,652.50, represented by 34,094,159 ordinary shares with a
nominal value of €3.00505 per share, which are listed on and traded
through the Nasdaq Global Select Market in the United States
(hereinafter, the “TELVENT Shares”).
	 
	III.	 	Whereas the Bidder Parties intend to launch a tender offer
(hereinafter, the “Offer”) for the TELVENT Shares promptly following
the execution hereof, pursuant to a transaction agreement (the
“Transaction Agreement”) that the Bidder and TELVENT have entered
into on the date hereof, such Offer to be made at a price of US $40
per share (such amount or, if the Offer is amended in accordance with
the terms of the Transaction Agreement and a higher amount per
TELVENT Share is paid pursuant to the Offer, such higher amount, the
“Acquisition Price”), subject to the terms and conditions set forth
in the Transaction Agreement and the related Offer materials (the
“Tender Offer Materials”), otherwise in accordance with the Exchange
Act), including Regulation 14D promulgated thereunder (hereinafter
the “US tender offer rules”).
	 
	IV.	 	Whereas on the date of execution of this Agreement ABENGOA is the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act)
of an aggregate number of 13,637,664 TELVENT Shares, of which
11,403,064 shares are held by TELVENT Corporation and 2,234,600
shares are held by SIEMA (all such beneficially owned TELVENT Shares
which are outstanding as of the date hereof and which may hereafter
be issued to or otherwise acquired or owned by ABENGOA prior to the
termination of this Agreement (including pursuant to any exercise of
acquisition by

Page 2

 

	 	 	purchase, or stock dividend, distribution, split-up, recapitalization, combination or
similar transaction), being referred to herein as the “Subject Shares”).
	 
	V.	 	Whereas as a condition to their willingness to enter into the Transaction Agreement, the
Bidder Parties have requested that the Selling Shareholders, and in order to induce the Bidder
Parties to enter into the Transaction Agreement, the Selling Shareholders have (and for
ABENGOA only in its capacity as a shareholder of TELVENT) agreed to, enter into this
Agreement.
	 
	VI.	 	Whereas pursuant to the Transaction Agreement, (a) TELVENT shall,
using its available cash balances that the management of the Company
reasonably determines are not necessary or useful to maintain for
purposes of the Company’s working capital needs and using funds to
be provided by the Bidder Parties, repay in full all indebtedness
for borrowed money existing as of immediately prior to the Offer
Closing, between TELVENT or any of its Subsidiaries, on the one
hand, and ABENGOA or its Affiliates (other than TELVENT) or any of
its Subsidiaries, on the other hand and TELVENT and the Bidder
Parties shall cause ABENGOA or its Affiliates (other than TELVENT)
to be released from guarantees and other credit support provided to
TELVENT and its Subsidiaries, which indebtedness, guaranties and
credit support are set forth on Schedule VI, and (b) ABENGOA shall
repay in full any indebtedness for borrowed money, if any, owed to
TELVENT existing as of immediately prior to the Offer Closing.
	 
	VII.	 	Whereas in light of the above, the Selling Shareholders desire to
sell the Subject Shares to the Bidder Parties at the Acquisition
Price and the Bidder Parties desire to acquire the Subject Shares at
such price subject to the terms and conditions set forth in this
Agreement.
	 
	VIII.	 	Whereas capitalized terms used but not otherwise defined herein
shall have the respective meanings ascribed to such terms in the
Transaction Agreement, and the other definitional and interpretative
provisions set forth in Section 6.13 of the Transaction Agreement
shall apply hereto as if such provisions were set forth herein.
	 
	IX.	 	Whereas, in light of the above and the respective representations,
warranties, covenants and agreements set forth below, the Parties
hereto agree as follows.
	 
	III.	 	CLAUSES

Page 3

 

	1.	 	Agreement to Tender

	1.1	 	Each Selling Stockholder agrees that each Company Stockholder shall duly tender, or cause
to be tendered, in the Offer, all of the Subject Shares pursuant to and in accordance with
the terms of the Offer. Promptly, but in any event no later than ten Business Days after
the commencement of the Offer, each Company Stockholder shall (i) deliver to the depositary
designated for the Offer (the “Depositary”) (A) a letter of transmittal with respect to such
Subject Shares complying with the terms of the Offer, (B) a certificate or certificates
representing such Subject Shares or an “agent’s message” (or such other evidence, if any, of
transfer as the Depositary may reasonably request) in the case of a book-entry transfer of
any uncertificated Subject Shares and (C) all other documents or instruments required to be
delivered pursuant to the terms of the Offer, and (ii) instruct its broker or such other
person that is the holder of record of any Subject Shares to irrevocably tender into the
Offer all of the Subject Shares pursuant to and in accordance with the terms of the Offer.
Each Selling Stockholder agrees that once the Subject Shares are tendered, the Selling
Stockholders shall not withdraw, nor cause or permit the withdrawal of, any tender of such
Subject Shares, unless and until (i) the Offer shall have been terminated in accordance with
the terms of the Transaction Agreement, or (ii) this Agreement shall have been terminated in
accordance with clause 10.

	2.	 	Agreement to Vote

	2.1	 	Except to the extent waived in writing by the Bidder in its discretion, at any meeting of
the stockholders of TELVENT, however called, or at any adjournment thereof, or in any other
circumstances upon which a vote, consent or other approval of all or some of the
stockholders of TELVENT is sought, each Selling Stockholder shall vote (and shall cause each
of its Affiliates to vote) all of the Subject Shares owned by such Selling Stockholder or
Affiliate (to the extent the Subject Shares are not purchased in the Offer): (i)
against any action, transaction or agreement that would result in a breach of any covenant,
representation or warranty or any other obligation or agreement of TELVENT under the
Transaction Agreement or of any of the parties hereto under this Agreement; and (ii)
against the following actions (other than the transactions contemplated or permitted by the
Transaction Agreement): (A) any extraordinary corporate transaction, such as a
merger, consolidation or other business combination involving TELVENT or any of its
subsidiaries; (B) any sale, lease or transfer of a material amount of assets of
TELVENT or any of its subsidiaries; (C) any reorganization, recapitalization,
dissolution, liquidation or winding up of TELVENT or any of its subsidiaries; (D)
any change in the majority of the

Page 4

 

	 	 	Company Board; (E) any change in the present capitalization of TELVENT or any
amendment of the articles of association of TELVENT; (F) any other material
change in the corporate structure or business of TELVENT; and (G) any other
action, transaction or proposal involving TELVENT or any of its subsidiaries that is
intended or would reasonably be expected to (x) prevent, nullify, impede,
interfere with, frustrate, delay, postpone, discourage or otherwise materially adversely
affect the Offer, the Transaction Agreement, any of the transactions contemplated by the
Transaction Agreement or this Agreement or the contemplated economic benefits of any of
the foregoing or (y) change in any manner the voting rights of any Subject
Shares, provided that none of the foregoing shall prohibit any employee of a
Selling Stockholder who is a director of TELVENT from fulfilling its duties as a director
of TELVENT under provisions of Spanish law and in particular those related to the
independence of directors and the fiduciary duties and duty of care of directors under
Spanish Stock Corporation Law (Ley de Sociedades de Capital).
	 
	2.2	 	Except as set forth in Section 2.1, each Selling Stockholder shall retain at all times
the right to vote such Selling Stockholder’s Subject Shares in such Selling Stockholder’s
sole discretion and without any other limitation on those matters other than those set forth
in this Agreement that are at any time or from time to time presented for consideration to
the Company’s stockholders to the extent that the Company is entitled to do so or not
prohibited from doing so under the Transaction Agreement.

	3.	 	Undertakings of the Selling Stockholders

	3.1	 	Until the earlier of the date of settlement of the Offer, the date of withdrawal of the
Offer or the date of termination of this Agreement, as applicable, and in accordance with
the terms and conditions of this Agreement, each Selling Stockholder, acting directly or
indirectly through any affiliate or any entity within its Group (for the purposes of this
Agreement the term “Group” shall be understood in accordance with section 42 of the Spanish
Commercial Code, and for the avoidance of doubt, as used in this Agreement, the term “Group”
shall not apply with respect to TELVENT or any of its affiliates or any entity within its
Group), jointly and severally, undertakes to take any and all necessary or convenient
actions to facilitate the successful completion of the Offer, and in particular (except as
otherwise permitted by this Agreement):

	 	(i)	 	(x) to maintain record and/or beneficial ownership (as “beneficial owner” is
defined in Rule 13d-3 under the Exchange Act), as the case may be, of the

Page 5

 

	 	 	 	Subject Shares until their transfer to BIDCO, except as such beneficial ownership
may be deemed transferred to the Bidder Parties pursuant to this Agreement; (y) not
to, directly or indirectly, (i) transfer (which term shall include any sale, offer
for sale, transfer, tender, assignment, gift, pledge, hypothecation or other
disposition), or consent to or permit any such transfer of, any or all of the
Subject Shares or any interest therein, or create or permit to exist any Lien on
any Subject Shares, other than any restrictions imposed by Applicable Law or
pursuant to this Agreement, (ii) enter into any Contract with respect to any
transfer of such Subject Shares or any interest therein, (iii) grant or permit the
grant of any proxy, power of attorney or other authorization in or with respect to
such Subject Shares, (iv) deposit or permit the deposit of such Subject Shares into
a voting trust or enter into a voting agreement or arrangement with respect to such
Subject Shares, or (v) take or permit any other action that would in any way
restrict, limit or interfere with the performance of its obligations hereunder or
the transactions contemplated hereby or otherwise make any representation or
warranty of each Shareholder herein untrue or incorrect; and (z) use its reasonable
commercial efforts, in its capacity and consistent with its role as a stockholder,
to take all actions reasonably required as a stockholder to (A) cause TELVENT to
perform its obligations under the Transaction Agreement in all material respects
and (B) not to cause TELVENT to take any action that would be in violation of the
Transaction Agreement in any material respect; and
	 
	 	(ii)	 	to tender all the Subject Shares in the Offer as promptly as practicable
after commencement of the Offer, but in any event no later than ten Business Days
following commencement of the Offer.

	 	 	If for any reason, any Selling Stockholder or any of its Affiliates, or any other entity
within its Group acquires or receives additional TELVENT Shares during such period, such
Selling Stockholder hereby irrevocably commits to sell, or cause to be sold, such
additional TELVENT Shares to the Bidder on the terms and conditions of this Agreement.
Each Selling Stockholder undertakes that any additional shares which might be acquired or
received by such Selling Stockholder, any affiliate or any other entity within the Group
according to this clause will be free from any lien, pledge, hypothecation, proxy, power of
attorney, encumbrance, option, pre-emptive right, contract or other agreement or
understanding with respect to any transfer of the Subject Shares or of any interest therein
and any restriction to their free transferability, and that they will carry all full voting
and economic rights in favor of such Selling Stockholder. Any TELVENT Shares acquired or
received by

Page 6

 

	 	 	any Selling Stockholder, an Affiliate or any other entity within its Group after the date
of this Agreement shall be considered “Subject Shares” for all purposes of this Agreement.

	3.2	 	Prior to the expiration of the Offer, the Selling Stockholders shall take all actions
reasonably required to cause each director of the Company Board nominated by ABENGOA (which,
for purposes of this Agreement, shall also include any director nominated by TELVENT
Corporation (such directors, “Abengoa Nominees”)) to provide to TELVENT (with copies to the
Bidder) irrevocable letters of resignation, the effectiveness of which shall be conditioned
solely upon the occurrence of the Offer Closing and payment for all TELVENT Shares validly
tendered and not withdrawn as of the Offer Closing. The Selling Stockholders shall take all
actions reasonably required to cause the persons designated by the Bidder (each a “Bidder
Designee”) to be elected or appointed to the Company Board promptly upon the effectiveness
of such resignations.
	 
	3.3	 	No Selling Stockholder shall, nor shall it authorize or permit any of its Affiliates or
any of its respective directors, officers, employees, agents, investment bankers, financial
advisors, attorneys, accountants or other advisors or representatives (collectively
“Representatives”) to, directly or indirectly (i) initiate, solicit, knowingly facilitate or
knowingly encourage any inquiry or the making of any proposal that constitutes or could
reasonably be expected to lead to an Alternative Proposal, (ii) enter into any letter of
intent, memorandum of understanding or other agreement, arrangement or understanding
relating to, or that could reasonably be expected to lead to, an Alternative Proposal, or
(iii) continue or otherwise participate in any discussions or negotiations regarding,
furnish to any Person any information or data with respect to, or otherwise cooperate with
or take any other action to knowingly facilitate any proposal that (A) constitutes, or could
reasonably be expected to lead to, an Alternative Proposal or (B) requires that TELVENT
abandon, terminate or fail to consummate the Offer or any other transactions contemplated by
the Transaction Agreement or this Agreement. Each Selling Stockholder and each of its
Affiliates and Representatives shall (i) immediately cease and cause to be terminated any
existing activities, discussions or negotiations with any Persons or their Representatives
(other than SE) conducted prior to the date of this Agreement with respect to an Alternative
Proposal and (ii) use its reasonable best efforts promptly to inform its Representatives of
the obligations undertaken in this Section 3.3 Without limiting the foregoing, any
violation of the restrictions set forth in this Section 3.3 by any Representative of a
Selling Stockholder or any of its Affiliates, whether or not such Person is purporting to
act on behalf of such

Page 7

 

	 	 	Selling Stockholder or any of its Affiliates, shall be deemed to be a breach of this
Section 3.3 by such Selling Stockholder.
	 
	3.4	 	Following the Offer Closing until the first anniversary of the Offer Closing, ABENGOA
will, and will cause its Affiliates (other than TELVENT) to, continue to provide services
to TELVENT and its Subsidiaries of the same type, at the same levels of service, for the
same level of fees and on the same terms as of the date hereof; provided that (a)
ABENGOA shall agree to amend the relevant agreements to allow TELVENT and its Subsidiaries
to discontinue any service at any time upon 30 days prior written notice (at which time
there would be a corresponding reduction in the fees payable to ABENGOA and its Affiliates),
and (b) upon the written request of SE no later than 30 days prior to the first anniversary
of the Offer Closing, ABENGOA shall provide any services requested by SE for an additional
six-month period (or such shorter period as may be specified by SE in its notice).
	 
	3.5	 	From the date of this Agreement until the second anniversary of the Offer Closing,
without the prior written consent of the Bidder, ABENGOA will not, and will procure that
none of its Affiliates (other than TELVENT) will not, directly or indirectly, (i) employ any
person who is an officer or senior manager of TELVENT or any of its Subsidiaries, or (ii)
solicit or encourage any person who is an officer or senior manager of TELVENT or any of its
Subsidiaries to leave his or her current employment or to breach the terms of his or her
employment with TELVENT or its Subsidiaries.
	 
	 	 	The restrictions of this clause 3.5 shall not apply to (i) the employment of any person
whose employment was terminated by TELVENT or any of its Subsidiaries, other than for
“cause” (as such term is generally understood in the jurisdiction of such person’s
employment), or (ii) the solicitation of employees of TELVENT or any of its Subsidiaries
who have been contacted through general solicitations of employment (including
advertisements or public agencies for selection and placement personnel).
	 
	4.	 	Undertakings of the Bidder Parties
	 
	4.1	 	The Bidder Parties hereby, jointly and severally (solidariamente), undertake:

	 	(i)	 	To launch the Offer as promptly as practicable following the date hereof in
accordance with the Transaction Agreement.

Page 8

 

	 	(ii)	 	Subject to the satisfaction or waiver of all conditions to the Offer set
forth in the Transaction Agreement, to acquire the Subject Shares tendered into the
Offer and to pay to the Selling Stockholders the Acquisition Price for each Subject
Share pursuant to and in accordance with the terms of the Offer promptly following the
expiration of the Offer in accordance with the Exchange Act.

	 	(iii)	 	To provide the Selling Stockholders with all such information as it
shall reasonably request in relation to the conduct of the Offer.

	 	(iv)	 	To perform in full, and to cause the Company and its Subsidiaries to
perform in full, all their obligations under or pursuant to Section 4.9 of the
Transaction Agreement.

	5.	 	Representations and Warranties of the Bidder Parties

	5.1	 	The Bidder Parties, jointly and severally (solidariamente), state that the
representations and warranties set forth in clause 5.2 (hereinafter, “Representations and
Warranties of the Bidder Parties”) are true, accurate and complete, and do not omit any fact
or circumstance that might alter, limit or condition their content and scope.

	5.2	 	The Bidder Parties hereby, jointly and severally, represent and warrant to the
Selling Stockholders that:

	 	(i)	 	Valid/Binding agreement. Assuming the due authorization,
execution and delivery of this Agreement by the Selling Stockholders, this Agreement,
when duly executed, will constitute valid and binding agreement of the Bidder Parties,
enforceable against each Bidder Party in accordance with its terms, subject only to
the Bankruptcy and Equity Exception.

	 	(ii)	 	Valid existence. Each Bidder Party is a duly incorporated
company, validly existing and in good standing under the laws of the jurisdiction in
which such party is organized, and each Bidder Party has full corporate power and
authority to enter into this Agreement and to perform its obligations hereunder.

	 	(iii)	 	Authorization / enforceability. The execution, delivery and
performance by the Bidder Parties of this Agreement and all of the documents and
instruments required hereby from the Bidder Parties and the consummation

Page 9

 

	 		 	of the Offer and other transactions contemplated hereby and thereby are within the
corporate power of each Bidder Party and have been duly authorized by all necessary
corporate action of such Bidder Party. Therefore, this Agreement and any other
documents or instruments entered into pursuant to this Agreement shall be
enforceable against each Bidder Party in accordance with their terms, subject only
to the Bankruptcy and Equity Exception.

	 	(iv)	 	Non contravention. The execution, delivery and performance by
the Bidder Parties of this Agreement and all of the documents and instruments required
hereby from the Bidder Parties and the consummation of the Offer and other
transactions contemplated hereby and thereby do not and will not (i) violate any
certificate of incorporation, bylaws or other organizational documents of either
Bidder Party, (ii) violate any applicable Law or order applicable to the Bidder
Parties, or (iii) result in the imposition of any encumbrance on any asset of either
Bidder Party. No governmental authorization is required in connection with the
execution and delivery of this Agreement by the Bidder Parties or the consummation by
the Bidder Parties of the transactions contemplated hereby, except for applicable
requirements, if any, under the Exchange Act and any other applicable U.S. state or
federal securities laws.

	5.3	 	The Representations and Warranties of the Bidder Parties will remain in force and
will be deemed as true, complete and accurate at the time of transfer of the Subject Shares
to BIDCO and at the time of settlement of the Offer. For avoidance of doubt,
notwithstanding anything in this Agreement to the contrary, the Representations and
Warranties of the Bidder Parties shall not survive the Offer Closing.

	6.	 	Representations and Warranties of the Selling Stockholders

	6.1	 	The Selling Stockholders, jointly and severally, state that the representations and
warranties set forth in clause 6.2 (hereinafter, “Representations and Warranties of the
Selling Stockholders” and, along with the “Representations and Warranties of the Bidder”,
the “Representations and Warranties”) are true, accurate and complete, and do not omit any
fact or circumstance that might alter, limit or condition their content and scope.

	6.2	 	The Selling Stockholders hereby, jointly and severally, represent and warrant to the
Bidder Parties that:

Page 10

 

	 	(i)	 	Valid/Binding agreement. Assuming the due authorization,
execution and delivery of this Agreement by the Bidder Parties, this Agreement, when
duly executed, will constitute valid and binding agreement of each Selling Stockholder
enforceable against such Selling Stockholder in accordance with its terms, subject
only to the Bankruptcy and Equity Exception.

	 	(ii)	 	Valid existence. Each Selling Stockholder is a duly incorporated
company, validly existing and in good standing under the laws of the jurisdiction
under which such Selling Stockholder is organized, and has full corporate power and
authority to enter into this Agreement and to perform its obligations hereunder.

	 	(iii)	 	Authorization / enforceability. The execution, delivery and
performance by each Selling Stockholder of this Agreement, and all of the documents
and instruments required hereby from each Selling Stockholder and the consummation of
the transactions contemplated hereby and thereby are within the corporate power of
such Selling Stockholder and have been duly authorized by all necessary corporate
action of such Selling Stockholder. Therefore, this Agreement and any other documents
or instruments entered into pursuant to this Agreement shall be enforceable against
each Selling Stockholder in accordance with their terms, subject only to the
Bankruptcy and Equity Exception.

	 	(iv)	 	Non contravention. Except as otherwise disclosed in the
Transaction Agreement and the Company SEC Documents, the execution, delivery and
performance by each Selling Stockholder of this Agreement and the consummation of the
transactions contemplated hereby and thereby do not and will not (i) violate the
memorandum and articles of association (Estatutos) or other organizational documents
of such Selling Stockholder, (ii) violate any applicable law or order applicable to
such Selling Stockholder, or (iii) result in the imposition of any encumbrance on any
asset of such Selling Stockholder. No governmental authorization is required in
connection with the execution and delivery of this Agreement by each Selling
Stockholder or the consummation by such Selling Stockholder of the transactions
contemplated hereby, except for applicable requirements, if any, under the Exchange
Act and any other applicable U.S. state or federal securities laws.

Page 11

 

	 	(v)	 	Legal title to and beneficial ownership of the Subject Shares.
Each Company Stockholder is the record or “beneficial owner” of the Subject Shares,
free and clear of any encumbrance and any other limitation or restriction (including
any restriction on the right to vote or otherwise transfer such Subject Shares),
except as provided hereunder, or any applicable restrictions on transfer under the
Securities Act. As of the date hereof, no Selling Stockholder owns, beneficially or
otherwise, any TELVENT Shares other than the Subject Shares.

	 	(vi)	 	Absence of Charges or Encumbrances on the Subject Shares. The
Subject Shares are, and shall remain until their transfer to BIDCO, free from any type
of Charges or Encumbrances. For these purposes, “Charges and Encumbrances” shall
encompass any restriction, obligation or defect having a real or personal nature which
encumbers: (i) the title to the Subject Shares, their peaceful enjoyment and full
possession; (ii) the capacity of the Selling Stockholders to freely dispose of the
Subject Shares; or (iii) any other right inherent to their ownership or title. Such
term includes without limitation pledges, usufructs, retention rights, pre-emptive
entries in any public registries, and other charges, restrictions and encumbrances of
a real nature, as well as preferential acquisition rights, rights of first refusal,
obligations to offer, buy-back rights, option rights, limitations on use, disposition
or enjoyment, or any other limitations of rights inherent in the title to the Subject
Shares, whether of a voluntary, legal or contractual nature, or other charges,
restrictions or encumbrances of a personal nature.

	 	(vii)	 	No Knowledge. To the knowledge of the Selling Shareholders,
except as disclosed in the electronic data room made available to the Bidder, none of
the Company SEC Documents, as of their respective filing dates, contained any untrue
statement of a material fact or omitted to state a material fact required to be stated
therein or necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading.

	 	(viii)	 	Finder’s Fees. No investment banker, broker, finder or other
intermediary is entitled to a fee or commission in connection with the transactions
contemplated by this Agreement based upon any arrangement or agreement made by or on
behalf of the Selling Stockholders other than as disclosed in the Transaction
Agreement.

Page 12

 

	6.3	 	For the purposes of evidencing its record ownership of the Subject Shares, the
Selling Stockholders shall provide the Bidder, no later than ten Business Days from the date
of this Agreement, with a certificate of the Transfer Agent setting forth the number of
TELVENT Shares held of record by each Company Stockholder as reflected on the shareholder
registered maintained by the Transfer Agent.

	6.4	 	The Representations and Warranties of the Selling Stockholders will remain in force
and will be deemed as true, complete and accurate at the time of transfer of the Subject
Shares to BIDCO and at the time of settlement of the Offer. For avoidance of doubt,
notwithstanding anything in this Agreement to the contrary, the Representations and
Warranties of the Selling Stockholders shall not survive the Offer Closing.

	7.	 	Indemnity undertaking

	7.1	 	The Bidder Parties and the Selling Stockholders shall indemnify each other for any
damages (as defined in clause 7.2) caused to the other Party as a consequence of any
inaccuracy, omission or falsity in the Representations and Warranties above.

	7.2	 	For the purposes of this Agreement, “damages” will mean any direct and demonstrable:
loss, damage (expressly excluding consequential damage and loss of probable profit),
detriment, charge, liability, capital loss, fine, surcharge, interest or expense (including
expenses and fees for attorneys, solicitors, notaries public, auditors, accountants, experts
or other professionals).

	7.3	 	Indemnity for damages will be calculated on a dollar-for-dollar basis.

	8.	 	No Managing Interest.

	8.1	 	Until such time as the Bidder Parties shall have acquired the Subject Shares pursuant
to the offer, all rights, ownership and economic benefits of and relating to the Subject
Shares shall remain vested in and belong to the Selling Stockholders, and the Bidder Parties
shall not have any authority to manage, direct, superintend, restrict, regulate, govern, or
administer any of the policies or operations of TELVENT.

Page 13

 

	9.	 	Term

	9.1	 	This Agreement shall enter into force on the date of its execution and shall remain
in force up to the earliest of:

	 	(i)	 	the mutual written consent of the Parties;

	 	(ii)	 	the date of settlement of the Offer (if the Subject Shares are acquired
in the Offer as contemplated herein); or

	 	(iii)	 	the termination or expiration of the Offer, without any TELVENT Shares
being accepted for payment thereunder due to the failure of the Offer Conditions to be
satisfied.

	10.	 	Termination of the Agreement

	10.1	 	This Agreement will terminate in any of the following circumstances; provided,
however that no such termination shall relieve any party from liability for any breach
hereof prior to such termination:

	 	(i)	 	Expiry of the term of the Agreement as set out in clause 9.

	 	(ii)	 	At the choice of the non-defaulting Party where any Party gives the other
Parties written notice of termination of this Agreement due to a serious or repeated
breach of any material obligation or covenant assumed under this agreement
(hereinafter, a “Material Breach”), if such Material Breach remains uncured or
unsolved after thirty (30) calendar days from the date of delivery of written notice
to the breaching Party.

	10.2	 	All the provisions contained in this Agreement which, due to their nature, are called
to remain in force after expiry of the term or termination shall remain in force. In
particular, this provision refers to this clause and to clauses 9 (“Term”), 10 (“Termination
of the Agreement”), 11 (“Confidentiality; Public Announcements”), 13 (“Assignment”), 14
(“Costs and Taxes”), 16 (“Notices”), 17 (“Governing law”) and 18 (“Arbitration”).

	11.	 	Confidentiality; Public Announcements

	11.1	 	The terms of this Agreement are strictly private and confidential and should not be
disclosed without the Bidder Parties and the Selling Stockholder’s prior written consent to
any Person other than the Parties’ professional advisors, unless any of

Page 14

 

	 	 	the Parties is
otherwise required to disclose such information in compliance with their legal or regulatory obligations and subject to clause 11.3 below.

	11.2	 	The Parties will co-ordinate among themselves and with the Company the timing and
contents of (i) any filing with applicable securities regulators (including “hechos
relevantes” and filing with the SEC of a Schedule 13D amendment) in relation to this
Agreement, in compliance with the duties and obligations provided by applicable law, and
(ii) any press release or public announcement with respect to the transactions contemplated
by this Agreement, and shall not issue any such press release or make any such public
statement prior to such consultation, except (A) announcements in connection with the Offer,
(B) as contemplated by the Transaction Agreement, or (C) as may be required by applicable
law, court process or by obligations pursuant to any listing agreement with any national
securities exchange or national securities quotation system (including any rules or
regulations promulgated under the Exchange Act, the Securities Act or the Spanish Securities
Exchange Act).

	11.3	 	The Parties acknowledge and accept that if the Offer is launched, a description of
this Agreement will be provided in the Tender Offer Materials, and that a copy of the
Agreement will be attached as an exhibit to the Schedule TO filed by the Bidder with the
SEC.

	11.4	 	The Selling Stockholders agree to keep confidential any non-public information
regarding TELVENT that it has received as a result of its commercial relationships with, or
ownership of, TELVENT for a period of 5 years from the date hereof.

	12.	 	Specific Performance

	12.1	 	The Parties hereto acknowledge and agree that (a) the covenants, obligations and
agreements of the Parties pursuant to this Agreement relate to special, unique and
extraordinary matters, (b) the Bidder Parties are and will be relying on such covenants,
obligations and agreements in connection with entering into the Transaction Agreement and
the performance of their obligations under the Transaction Agreement, and (c) a violation of
any of the covenants, obligations or agreements contained in this Agreement by either party
will cause the non-defaulting party irreparable injury for which adequate remedies are not
available at law. Therefore, the Parties shall be entitled to an injunction, restraining
order or such other equitable relief (without the requirement to post bond) as a court of
competent jurisdiction may deem necessary or appropriate to restrain the

Page 15

 

	 	 	breaching party from committing any violation of such covenants, obligations or
agreements and to specifically enforce the terms of this Agreement. These injunctive
remedies are cumulative and in addition to any other rights and remedies the Parties may
have under applicable law. Notwithstanding the above, and in application of the relevant
provisions of Spanish law it is expressly agreed by the Parties that: (i) specific
performance can only take place when, at the time it is to be granted, such specific
performance is feasible and is being requested in good faith by the Parties seeking to
enforce it (buena fe de exigir); (ii) specific performance will not be granted when it
entails an imposition of a sanction against individual freedom (hacer personal); and
(iii) specific performance will not be granted when its application implies the breach of
an obligation of a third party (e.g. an obligation imposed by the Sellers on the
directors nominated by them to vote in a given sense at a Board meeting which would go
against the duties of directors under the Spanish Corporation Act).
	 
	13.	 	Assignment; Third-Party Beneficiaries

	13.1	 	No Party shall have the right to assign the rights and obligations arising under this
Agreement without the prior written consent of the other Parties.

	13.2	 	No provision of this Agreement is intended to confer any rights, benefits, remedies,
obligations or liabilities hereunder upon any Person, other than the Company with respect to
the provisions of clause 3.4.
	 
	14.	 	Costs and taxes

	14.1	 	The Parties will bear the costs and taxes derived from negotiating, formalizing and
executing this Agreement, as follows:

	 	(i)	 	All the expenses and costs incurred and directly related to the Offer shall
be borne by the Bidder Parties.
	 
	 	(ii)	 	Other fees for advisors, auditors and other professionals will be borne by
the Party that contracted the services in each case.
	 
	 	(iii)	 	Taxes resulting from formalizing and executing this Agreement, if any, will
be borne, in each case, in accordance with applicable Law.

Page 16

 

	15.	 	Interpretation Standards
	 
	15.1	 	Headings. The headings and index used in this Agreement are for reference
purposes only, and will not be deemed to affect its interpretation.
	 
	15.2	 	Prevalence. If conflict arises between the clauses of this Agreement and the
content of its Schedules or a supplementary document, the content of the clauses of this
Agreement will prevail.
	 
	15.3	 	Severability. The illegality, invalidity or nullity of any clause in this
Agreement will not affect the validity of its other clauses, provided the rights and
obligations of the Parties are not affected in an essential manner. ‘Essential’ is
understood as any situation that seriously prejudices the interests of any of the Parties,
or affects the object of this Agreement as provided in clause 1. Such clauses are to be
replaced or integrated into others that, in accordance with law, correspond to the
objectives of the substituted clause(s).
	 
	15.4	 	Entire Agreement. This Agreement constitutes the entire agreement of the Parties
on the date it is entered into, regarding the matters set out in it, and it substitutes and
derogates all other previous agreements relating to its object. All the schedules form an
integral part of this Agreement and have the same validity and effect as if they were
incorporated into the text of this Agreement. Changes to this Agreement are to be made in
writing and signed by the Parties.
	 
	15.5	 	Waiver. No waiver by the Parties of any of the rights under this Agreement or
derived from its breach will be deemed to exist, unless the waiver is made expressly in
writing. If any Party waives any of its rights under this Agreement or any breach of this
Agreement by the other Party pursuant to the previous paragraph, this waiver will not be
understood as a waiver of any other right under this Agreement or any other breach by the
other Party, even though it may be similar to the waived event.
	 
	15.6	 	Amendment of Transaction Agreement. The Bidder Parties agree that they shall not
amend or modify the Transaction Agreement, nor any of the terms thereof, without the prior
written consent of ABENGOA.
	 
	16.	 	Notices
	 
	16.1	 	Form. All communications and notices made by the Parties pursuant to or relating
to this Agreement must be in writing, using any of the following methods:

Page 17

 

	 	(i)	 	personal delivery with written confirmation of receipt by the other Party;
	 
	 	(ii)	 	notarial service;
	 
	 	(iii)	 	registered fax (bureau fax); or
	 
	 	(iv)	 	mail, commercial delivery service, or electronic mail, or by any other means,
as long as, at all times, there is evidence of receipt by the addressee(s).

	16.2	 	Designated Addresses for Notices. Communications and notices between the Parties
are to be delivered to the following addresses or fax numbers and to the attention of the
persons indicated:

To SE or BIDCO:

Schneider Electric SA

Address: 35 rue Joseph Monier

92500 Rueil Malmaison

France

Telephone: +33 141 393 062

Fax: +1 401 788 2766

E-mail: peter.wexler@schneider-electric.com

Care of: Peter Wexler, General Counsel

With a copy to:

Debevoise & Plimpton LLP

919 Third Avenue

New York, NY 10022

U.S.A.

Telephone: +1 212 909 6000

Fax: +1 212 909 6836

Email : psbird@debevoise.com

          rbetmansour@debevoise.com

Care of: Paul S. Bird

        E. Raman Bet-Mansour

Page 18

 

and:

Uria Menendez

Prinicipe de Vergara, 187

Plaza de Rodrigo Uria

28002 — Madrid

Spain

Telephone: +34 915 860 096

Fax: +34 915 860 403

Email: che@uria.com

Care of: Christian Hoedl

To ABENGOA or the Company Stockholders:

Address: calle Energía Solar 1

Campus Palmas Altas

41014 Sevilla, SPAIN

Telephone: +34 954 937 111

Fax: +34 955 641 705

E-mail: majimenez@abengoa.com

Care of: Miguel Angel Jiménez-Velasco Mazarío, Secretary General

With a copy to:

DLA Piper Spain, S.L.

Address: Paseo de la Castellana, 35

28046 Madrid, SPAIN

Telephone: +34 91 319 12 12

Fax: +34 91 319 19 40

E-mail: juan.picon@dlapiper.com

Care of: Juan Picón García de Leániz

Page 19

 

and:

DLA Piper LLP (US)

Address: 1251 Avenue of the Americas

New York, NY 10020-1104

U.S.A.

Telephone: +1-212-335-4500

Fax: +1-212-335-4501

Care of: Jonathan Klein

              Christopher Paci

	16.3	 	Changes. Under this clause, any changes to the addresses or contact persons
indicated to receive notices under this Agreement are to be notified immediately to the
other Parties. If a Party has not received notice of changes, any notice this Party makes in
accordance with these rules to the addresses and persons indicated in this Agreement will be
deemed valid.
	 
	17.	 	Governing law

	17.1	 	This Agreement will be governed by the laws of Spain.
	 
	18.	 	Arbitration

	18.1	 	All disputes arising out of or in connection with this Agreement between the Bidder
Parties, on the one hand, and the Selling Stockholders, on the other hand, shall be finally
settled under the Rules of Arbitration of the International Chamber of Commerce by three (3)
arbitrators appointed in accordance with the said Rules. For purposes of appointing
arbitrators in accordance with the said Rules, the Bidder Parties shall be considered one
party and the Selling Stockholders shall be considered the other party. The seat of the
arbitration shall be Madrid (Spain), the language of the arbitration shall be English and in
Spanish the arbitration shall be arbitration in law. For the avoidance of doubt, the
arbitrators shall have authority to grant specific performance in accordance with clause 12
of this Agreement, subject to the limitations therein. The parties submit to jurisdiction in
the Courts of Madrid for the limited purpose of enforcing this agreement to arbitrate.

Page 20

 

	18.2	 	Judgment upon the award may be entered by any court having jurisdiction thereof or having
jurisdiction over the relevant party or its assets.

[Signatures follow]

Page 21

 

IN WITNESS WHEREOF, the Parties, duly represented, execute and sign this Agreement in five (5)
original copies.

	 	 	 	 	 
	 	SCHNEIDER ELECTRIC, S.A.

 	 
	 	By:  	/s/ Emmanuel Babeau
 	 
	 	 	Name:  	Emmanuel Babeau 	 
	 	 	Title:  	Chief Financial Officer 	 
	 
	 	SCHNEIDER ELECTRIC ESPAÑA, S.A.U.

 	 
	 	By:  	/s/ Elena González Anta
 	 
	 	 	Name:  	Elena González Anta 	 
	 	 	Title:  	Chief Legal Counsel 	 
	 
	 	ABENGOA, S.A.

 	 
	 	By:  	/s/ Miguel Angel Jimenez-Velasco
 	 
	 	 	Name:  	Miguel Angel Jimenez-Velasco 	 
	 	 	Title:  	Secretary Attorney of the Board 	 
	 
	 	SIEMA, A.G.

 	 
	 	By:  	/s/ Amando Sanchez Falcon
 	 
	 	 	Name:  	Amando Sanchez Falcon 	 
	 	 	Title:  	Attorney 	 
	 
	 	TELVENT CORPORATION, S.L.

 	 
	 	By:  	/s/ Amando Sanchez Falcon
 	 
	 	 	Name:  	Amando Sanchez Falcon 	 
	 	 	Title:  	Attorney 	 

Page 22

 

	 	 	 	 	 

SCHEDULE

			
	- Schedule VI	 	Certain Indebtedness.

Page 23

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}]]