Document:

exv10w4

 

Exhibit 10.4

INDEMNIFICATION UNDERTAKING

dated as of May __, 2006

from Mellanox Technologies Ltd. to [________________]

(the “Office Holder”)

     In respect of your service as a director or office holder of Mellanox Technologies Ltd. (the
“Company”), the Company desires to provide for your indemnification to the fullest extent permitted
by law. To that end, the Company hereby agrees as follows:

     1.     The Company hereby undertakes to indemnify you to the maximum extent permitted by the
Companies Law — 1999 (the “Companies Law”) in respect of the following:

          1.1     any financial obligation imposed on you in favor of another person by, or expended by you
as a result of, a court judgment, including a settlement or an arbitrator’s award approved by
court, in respect of any act or omission (“action”) taken or made by you in your capacity as a
director or office holder of the Company;

          1.2     all reasonable litigation expenses, including reasonable attorneys’ fees, expended by you
or charged to you by a court, in a proceeding instituted against you by the Company or on its
behalf or by another person, or in any criminal proceedings in which you are acquitted, or in any
criminal proceedings of a crime which does not require proof of mens rea (criminal intent) in which
you are convicted, all in respect of actions taken by you in your capacity as a director or officer
of the Company; and

          1.3     all reasonable litigation expenses, including reasonable attorneys’ fees, expended by you
due to an investigation or a proceeding instituted against you by an authority qualified to conduct
such investigation or proceeding, where such investigation or proceeding is concluded without the
filing of an indictment against you (as defined in the Companies Law) and without any financial
obligation imposed on you in lieu of criminal proceedings (as defined in the Companies Law), or
that is concluded without your indictment but with a financial obligation imposed on you in lieu of
criminal proceedings with respect to a crime that does not require proof of mens rea (criminal
intent), all in respect of actions taken by you in your capacity as a director or office holder of
the Company;

     2.     The Company will not indemnify you for any amount you may be obligated to pay in respect
of:

          2.1     a breach of your duty of loyalty to the Company, except, to the extent permitted by the
Companies Law, for a breach of a duty of loyalty to the Company while acting in good faith and
having reasonable cause to assume that such act would not prejudice the interests of the Company;

          2.2     a willful or reckless breach of the your duty of care to the Company;

          2.3     an action taken or omission by you with the intent of unlawfully realizing personal gain;

          2.4     a fine or penalty imposed upon you for an offense; and

          2.5     a counterclaim brought by the Company or in its name in connection with a claim against
the Company filed by you, other than by way of defense or by way of third party notice in
connection with a claim brought against you by the Company, or in

 

 

specific cases in which the Company’s Board of Directors has approved the initiation or
bringing of such suit by you, which approval shall not be unreasonably withheld.

     3.     The Company will make available all amounts payable to you in accordance with Section 1
above on the date on which such amounts are first payable by you (“Time of Indebtedness”),
including with respect to any claim against you initiated by the Company or in its right, and with
respect to items referred to in Sections 1.2 and 1.3 above, not later than the date on which the
applicable court renders its decision. Advances given to cover legal expenses in criminal
proceedings will be repaid by you to the Company if you are found guilty of a crime which requires
proof of criminal intent. Other advances will be repaid by you to the Company if it is determined
that you are not lawfully entitled to such indemnification. As part of the aforementioned
undertaking, the Company will make available to you any security or guarantee that you may be
required to post in accordance with an interim decision given by a court or an arbitrator,
including for the purpose of substituting liens imposed on your assets.

     4.     The Company will indemnify you even if at the relevant Time of Indebtedness you are no
longer a director or office holder of the Company provided that the obligations with respect to
which you will be indemnified hereunder are in respect of actions taken by you while you were a
director or office holder of the Company as aforesaid, and in such capacity.

     5.     The indemnification will be limited to the expenses mentioned in Sections 1.2 and 1.3
(pursuant and subject to Section 3 and insofar as indemnification with respect thereto is not
restricted by law or by the provisions of Section 2 above) and to the expenses mentioned in Section
1.1 above insofar as they result from, or are connected to, events and circumstances set forth in
Schedule A hereto, which are deemed by the Company’s Board of Directors, based on the
current activity of the Company, to be foreseeable as of the date hereof.

     6.     The indemnification that the Company undertakes towards all persons whom it has resolved to
indemnify for the matters and in the circumstances described herein, jointly and in the aggregate,
shall not exceed the maximum assets of the Company available as permitted by law (the “Maximum
Liability Amount”), provided that if the Maximum Liability Amount is insufficient to cover all
amounts to which such persons are entitled pursuant to such undertaking of the Company, the Maximum
Liability Amount shall be allocated among such persons pro rata to the amounts to which they are so
entitled. You acknowledge that you have been advised by the Company of the current Maximum
Liability Amount.

     7.     The Company will not indemnify you for any liability with respect to which you have
received payment by virtue of an insurance policy or another indemnification agreement other than
for amounts which are in excess of the amounts actually paid to you pursuant to any such insurance
policy or other indemnity agreement (including deductible amounts not covered by insurance
policies), within the limits set forth in Section 6 above.

     8.     Subject to the provisions of Sections 6 and 7 above, the indemnification hereunder will, in
each case, cover all sums of money that you will be obligated to pay, in those circumstances for
which indemnification is permitted under the law and under this Indemnification Undertaking.

     9.     The Company will be entitled to any amount collected from a third party in connection with
liabilities indemnified hereunder.

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     10.     In all indemnifiable circumstances, indemnification will be subject to the following:

          10.1     You shall promptly notify the Company of any legal proceedings initiated against you and
of all possible or threatened legal proceedings without delay following your first becoming aware
thereof, however, your failure to notify the Company as aforesaid shall not derogate from your
right to be indemnified as provided herein (except to the extent that such failure to notify causes
the Company damages). You shall deliver to the Company, or to such person as it shall advise you,
without delay all documents you receive in connection with these proceedings. Similarly, you must
advise the Company on an ongoing and current basis concerning all events which you suspect may give
rise to the initiation of legal proceedings against you in connection with your actions or
omissions as a director or office holder of the Company.

          10.2     Other than with respect to proceedings that have been initiated against you by the
Company or in its name, the Company shall be entitled to undertake the conduct of your defense in
respect of such legal proceedings and/or to hand over the conduct thereof to any attorney which the
Company may choose for that purpose, except to an attorney who is not, upon reasonable grounds,
acceptable to you. The Company shall notify you of any such decision to defend with ten (10)
calendar days of receipt of notice of any such proceeding. The Company and/or the attorney as
aforesaid shall be entitled, within the context of the conduct as aforesaid, to conclude such
proceedings, all as it shall see fit, including by way of settlement. At the request of the
Company, you shall execute all documents required to enable the Company and/or its attorney as
aforesaid to conduct your defense in your name, and to represent you in all matters connected
therewith, in accordance with the aforesaid. For the avoidance of doubt, in the case of criminal
proceedings the Company and/or the attorneys as aforesaid will not have the right to plead guilty
in your name or to agree to a plea-bargain in your name without your consent. However, the
aforesaid will not prevent the Company and/or its attorneys as aforesaid, with the approval of the
Company, to come to a financial arrangement with a plaintiff in a civil proceeding without your
consent so long as such arrangement will not be an admittance of an occurrence not indemnifiable
pursuant to this Indemnification Undertaking and/or pursuant to law. The Company shall not, without
your prior written consent, consent to the entry of any judgment against you or enter into any
settlement or compromise which (i) includes an admission of your fault, (ii) does not include, as
an unconditional term thereof, the full release of you from all liability in respect of such
proceeding or (iii) is not fully indemnifiable pursuant to this Indemnification Undertaking and/or
pursuant to law. This paragraph shall not apply to a proceeding brought by you under Section 10.7
below.

          10.3     You will fully cooperate with the Company and/or any attorney as aforesaid in every
reasonable way as may be required of you within the context of their conduct of such legal
proceedings, including but not limited to the execution of power(s) of attorney and other
documents, provided that the Company shall cover all costs incidental thereto such that you will
not be required to pay the same or to finance the same yourself.

          10.4     Notwithstanding the provisions of Sections 10.2 and 10.3 above, (i) if in a proceeding to
which you are a party by reason of your status as a director or officer of the Company and the
named parties to any such proceeding include both you and the Company or any subsidiary of the
Company, a conflict of interest or potential conflict of interest (including the availability to
the Company and its subsidiary, on the one hand, and you, on the other hand, of different or
inconsistent defenses or counterclaims) exists between you and the Company, or (ii) if the Company
fails to assume the defense of such proceeding in a

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timely manner, you shall be entitled to be represented by separate legal counsel, which shall
represent other persons similarly situated, of the Company’s choice and reasonably acceptable to
you and other person’s choice, at the expense of the Company. In addition, if the Company fails
to comply with any of its material obligations under this Indemnification Undertaking or in the
event that the Company or any other person takes any action to declare this Indemnification
Undertaking void or unenforceable, or institutes any action, suit or proceeding to deny or to
recover from you the benefits intended to be provided to you hereunder, except with respect to such
actions, suits or proceedings brought by the Company that are resolved in favor of the Company, you
shall have the right to retain counsel of your choice, and reasonably acceptable to the Company and
at the expense of the Company, to represent you in connection with any such matter.

          10.5     If, in accordance with Section 10.2 (but subject to Section 10.4), the Company has taken
upon itself the conduct of your defense, the Company will have no liability or obligation pursuant
to this Indemnification Undertaking or the above resolutions to indemnify you for any legal
expenses, including any legal fees, that you may expend in connection with your defense, unless (i)
the Company shall not have assumed the conduct of your defense as contemplated, (ii) the Company
refers the conduct of your defense to an attorney who is not, upon reasonable grounds, acceptable
to you, (iii) the named parties to any such action (including any impleaded parties) include both
you and the Company, and joint representation is inappropriate under applicable standards of
professional conduct due to a conflict of interest between you and the Company, or (iv) the Company
shall agree to such expenses in either of which events all reasonable fees and expenses of your
counsel shall be borne by the Company.

          10.6     The Company will have no liability or obligation pursuant to this Indemnification
Undertaking to indemnify you for any amount expended by you pursuant to any compromise or
settlement agreement reached in any suit, demand or other proceeding as aforesaid without the
Company’s consent to such compromise or settlement.

          10.7     If required by law, the Company’s authorized organs will consider the request for
indemnification and the amount thereof and will determine if you are entitled to indemnification
and the amount thereof. In the event that you make a request for payment of an amount of
indemnification hereunder or a request for an advancement of indemnification expenses hereunder and
the Company fails to determine your right to indemnification hereunder or fails to make such
payment or advancement, you may petition any court which has jurisdiction to enforce the Company’s
obligations hereunder. The Company agrees to reimburse you in full for any reasonable expenses
incurred by you in connection with investigating, preparing for, litigating, defending or settling
any action brought by you under the immediately preceding sentence, except where such action or any
claim or counterclaim in connection therewith is resolved in favor of the Company.

     11.     The Company hereby exempts you, to the fullest extent permitted by law, from any liability
for damages caused as a result of a breach of your duty of care to the Company, provided that in no
event shall you be exempt with respect to any actions listed in Section 2 above or breach of your
duty of care in connection with distribution of Company’s assets.

     12.     The Company undertakes that in the event of a Change in Control (as defined below) of the
Company, the Company’s obligations under this Indemnification Undertaking shall continue to be in
effect following such Change in Control, and the Company shall take all reasonable necessary action
to ensure that the party acquiring control of the Company shall independently undertake to continue
in effect such Indemnification Undertaking, to

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maintain the provisions of the Articles of Association allowing indemnification and to
indemnify you in the event that the Company shall not have sufficient funds or otherwise shall not
be able to fulfill its obligations hereunder. For purposes of this Indemnification Undertaking, a
“Change in Control” shall be deemed to have occurred if: (i) any “Person” (as such term is used in
Sections 13(d) and 14(d) of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange
Act”)), other than a trustee or other fiduciary holding securities under an employee benefit plan
of the Company or a corporation owned directly or indirectly by the shareholders of the Company in
substantially the same proportions as their ownership of shares of the Company, is or becomes the
“Beneficial Owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing 15% or more of the total voting power represented by the
Company’s then outstanding voting securities; or (ii) during any period of two consecutive years
(not including any period prior to the execution of this Indemnification Undertaking), individuals
who at the beginning of such period constitute the Board of Directors of the Company and any new
director (other than a director designated by a person who has entered into an agreement with the
Company to effect a transaction described in clause (i), (iii) or (iv) of this Section 12) whose
election by the Board of Directors or nomination for election by the Company’s shareholders was
approved by a vote of at least two-thirds of the directors then still in office who either were
directors at the beginning of the period or whose election or nomination for election was
previously so approved, cease for any reason to constitute at least a majority of the members of
the Board of Directors; or (iii) a merger or consolidation of the Company with any other entity,
other than a merger or consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or
by being converted into voting securities of the surviving entity) more than 51% of the combined
voting power of the voting securities of the surviving entity outstanding immediately after such
merger or consolidation and with the power to elect at least a majority of the Board of Directors
or other governing body of such surviving entity; or (iv) the shareholders of the Company approve a
plan of complete liquidation of the Company or an agreement for the sale or disposition by the
Company of all or substantially all the Company’s assets; or (v) there occurs any other event of a
nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A (or a response to any similar item on any similar schedule or form) promulgated under the
Exchange Act, whether or not the Company is then subject to such reporting requirement.

     13.     The Company undertakes that if there is a Change in Control of the Company then with
respect to all matters thereafter arising concerning your rights to payments under this
Indemnification Undertaking or any other agreement or under the Company’s Articles of Association
as now or hereafter in effect, the Company shall seek legal advice only from Independent Legal
Counsel (as defined below) selected by the Company and approved by you (which approval shall not be
unreasonably withheld). Such counsel, among other things, shall render its written opinion to the
Company and you as to whether and to what extent you would be permitted to be indemnified under
applicable law and the Company agrees to abide by such opinion. The Company agrees to pay the
reasonable fees of the Independent Legal Counsel referred to above and to fully indemnify such
counsel against any and all expenses (including attorneys’ fees), claims, liabilities and damages
arising out of or relating to this Indemnification Undertaking or its engagement pursuant hereto.
For purposes of this Indemnification Undertaking, “Independent Legal Counsel” shall mean an
attorney or firm of attorneys who shall not have otherwise performed services for the Company or
you within the last three years (other than with respect to matters concerning your rights under
this

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Indemnification Undertaking, or of other indemnitees under similar indemnification
undertakings).

     14.     If for the validation of any of the undertakings in this Indemnification Undertaking any
act, resolution, approval or other procedure is required, the Company undertakes to cause them to
be done or adopted in a manner which will enable the Company to fulfill all its undertakings as
aforesaid.

     15.     For the avoidance of doubt, it is hereby clarified that nothing contained in this
Indemnification Undertaking derogates from the Company’s right to indemnify you post factum for any
amounts which you may be obligated to pay as set forth in Section 1 above without the limitations
set forth in Sections 5 and 6 above.

     16.     If any undertaking included in this Indemnification Undertaking is held invalid or
unenforceable, such invalidity or unenforceability will not affect any of the other undertakings
which will remain in full force and effect. Furthermore, if such invalid or unenforceable
undertaking may be modified or amended so as to be valid and enforceable as a matter of law, such
undertaking will be deemed to have been modified or amended, and any competent court or arbitrator
are hereby authorized to modify or amend such undertaking, so as to be valid and enforceable to the
maximum extent permitted by law.

     17.     This Indemnification Undertaking and the agreements herein shall be governed by and
construed and enforced in accordance with the laws of the State of Israel.

     18.     This Indemnification Undertaking cancels any preceding letter of indemnification or
arrangement for indemnification that may have been issued to you by the Company.

     19.     Neither the settlement or termination of any proceeding nor the failure of the Company to
award indemnification or to determine that indemnification is payable shall create an adverse
presumption that you are not entitled to indemnification hereunder. In addition, the termination
of any proceeding by judgment or order (unless such judgment or order provides so specifically) or
settlement, shall not create a presumption that you did not act in good faith and in a manner which
you reasonably believed to be in or not opposed to the best interests of the Company or, with
respect to any criminal action or proceeding, had reasonable cause to believe that your action was
unlawful.

     20.     This Indemnification Undertaking shall be (a) binding upon all successors and assigns of
the Company (including any transferee of all or a substantial portion of the business, stock and/or
assets of the Company and any direct or indirect successor by merger or consolidation or otherwise
by operation of law), and (b) binding on and shall inure to the benefit of your heirs, personal
representatives, executors and administrators. This Indemnification Undertaking shall continue for
your benefit and your heirs’, personal representatives’, executors’ and administrators’ benefit
after you cease to be a director or office holder of the Company.

     21.     Except with respect to changes in the governing law which expand your right to be
indemnified by the Company, no supplement, modification or amendment of this Indemnification
Undertaking shall be binding unless executed in writing by each of the parties hereto. No waiver
of any of the provisions of this Indemnification Undertaking shall be deemed or shall constitute a
waiver of any other provisions of this Indemnification Undertaking (whether or not similar), nor
shall such waiver constitute a continuing waiver.

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     This Indemnification Undertaking is being issued to you pursuant to the resolutions adopted by
the Board of Directors of the Company on May ___, 2006 and by the shareholders of the Company on
[May ___, 2006]. The Board of Directors has determined, based on the current activity of the
Company, that the amount stated in Section 6 is reasonable and that the events listed in Schedule A
are reasonably anticipated.

     Kindly sign and return the enclosed copy of this letter to acknowledge your agreement to the
contents hereof.

	 	 	 	 	 
	 	Very truly yours,

Mellanox Technologies Ltd. 	 
	 	By:  	 	 
	 	Name:  	 	 
	 	Title:  	Chief Executive Officer 	 
	 	Date:  	May __, 2006	 
	 

	 	 	 	 	 	 
	 	Accepted and agreed to: 

	 	 
	 	 	 	 
	 
	 	Name: 	 	 	 	 
	 
	 	Date: 	 	May ___, 2006 	 

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Schedule A

	1.	 	Negotiations, execution, delivery and performance of agreements on behalf of the Company and
any subsidiary thereof (“Subsidiary”) including, inter alia, any claim or demand made by a
customer, supplier, contractor or other third party transacting any form of business with the
Company, its Subsidiaries or affiliates relating to the negotiations or performance of such
transactions, representations or inducements provided in connection thereto or otherwise.
	 
	2.	 	Any claim or demand made in connection with any transaction which is not within the ordinary
course of business of either the Company, its subsidiaries or affiliates, including the sale,
lease or purchase of any assets or businesses.
	 
	3.	 	Anti-competitive acts and acts of commercial wrongdoing.
	 
	4.	 	Acts in regard of invasion of privacy including with respect to databases and acts in regard
of slander.
	 
	5.	 	Any claim or demand made for actual or alleged infringement, misappropriation or misuse of
any third party’s intellectual property rights including, but not limited to confidential
information, patents, copyrights, design rights, service marks, trade secrets, copyrights,
misappropriation of ideas by the Company, its Subsidiaries or affiliates.
	 
	6.	 	Actions taken in connection with the intellectual property of the Company and any Subsidiary
and its protection, including the registration or assertion of rights to intellectual property
and the defense of claims relating thereof.
	 
	7.	 	Participation and/or non-participation at the Company’s board meetings, bona fide expression
of opinion and/or voting and/or abstention from voting at the Company’s board meetings.
	 
	8.	 	Approval of corporate actions including the approval of the acts of the Company’s management,
their guidance and their supervision.
	 
	9.	 	Claims of failure to exercise business judgement and a reasonable level of proficiency,
expertise and care in regard of the Company’s business.
	 
	10.	 	Violations of securities laws of any jurisdiction, including without limitation, fraudulent
disclosure claims, failure to comply with SEC and/or the Israeli Securities Authority and/or
any stock exchange disclosure or other rules and any other claims relating to relationships
with investors, shareholders and the investment community and any claims related to the
Sarbanes-Oxley Act of 2002, as amended from time to time.
	 
	11.	 	Any claim or demand made under any securities laws or by reference thereto, or related to the
failure to disclose any information in the manner or time such information is required to be
disclosed pursuant to such laws, or related to inadequate or improper disclosure of
information to shareholders, or prospective shareholders, or related to the purchasing,
holding or disposition of securities of the Company or any other investment activity involving
or affected by such securities, including any actions relating to an offer or issuance of
securities of the Company or of its subsidiaries and/or affiliates to the public by prospectus
or privately by private placement, in Israel or abroad, including the details that shall be
set forth in the documents in connection with execution thereof.

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	12.	 	Violations of laws requiring the Company to obtain regulatory and governmental licenses,
permits and authorizations or laws related to any governmental grants in any jurisdiction.
	 
	13.	 	Claims in connection with publishing or providing any information, including any filings with
any governmental authorities, on behalf of the Company in the circumstances required under any
applicable laws
	 
	14.	 	Any claim or demand made by employees, consultants, agents or other individuals or entities
employed by or providing services to the Company relating to compensation owed to them or
damages or liabilities suffered by them in connection with such employment or service.
	 
	15.	 	Resolutions and/or actions relating to employment matters of the Company and/or its
Subsidiaries and/or affiliates.
	 
	16.	 	Events, pertaining to the employment conditions of employees
and to the employer-employee
relations, including the promotion of workers, handling pension arrangements, insurance and
saving funds, options and other benefits.
	 
	17.	 	Any claim or demand made by any lenders or other creditors or for moneys borrowed by, or
other indebtedness of, the Company, its Subsidiaries or affiliates.
	 
	18.	 	Any claim or demand made by any third party suffering any personal injury and/or bodily
injury and/or property damage to business or personal property through any act or omission
attributed to the Company, its Subsidiaries or affiliates, or their respective employees,
agents or other persons acting or allegedly acting on their behalf.
	 
	19.	 	Any claim or demand made directly or indirectly in connection with complete or partial
failure, by the Company or any Subsidiary or affiliate thereof, or their respective directors,
officers and employees, to pay, report, keep applicable records or otherwise, of any foreign,
federal, state, country, local, municipal or city taxes or other compulsory payments of any
nature whatsoever, including without limitation, income, sales, use, transfer, excise, value
added, registration, severance, stamp, occupation, customs, duties, real property, personal
property, capital stock, social security, unemployment, disability, payroll or employee
withholding or other withholding, including any interest, penalty or addition thereto, whether
disputed or not.
	 
	20.	 	Any claim or demand made by purchasers, holders, lessors or other users of products or assets
of the Company, or individuals treated with such products, for damages or losses related to
such use or treatment, and actions in connection with the testing of products developed by the
Company and/or its Subsidiaries or in connection with the distribution, sale, license or use
of such products.
	 
	21.	 	Any administrative, regulatory or judicial actions, orders, decrees, suits, demands, demand
letters, directives, claims, liens, investigations proceedings or notices of noncompliance or
violation by any governmental entity or other person alleging potential responsibility or
liability (including potential responsibility or liability for costs of enforcement,
investigation, cleanup, governmental response, removal or remediation, for natural resources
damages, property damage, personal injuries, or penalties or contribution, indemnification,
cost recovery, compensation, or injunctive relief) arising out of, based on or related to (x)
the presence of, release spill, emission, leaking, dumping, pouring, deposit, disposal ,
discharge, leaching or migration into the environment (each a “Release”) or threatened Release
of, or exposure to, any

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	 	 	hazardous, toxic, explosive or radioactive substance, wastes or other substances or wastes
of any nature regulated pursuant to any environmental law, at any location, whether or not
owned, operated, leased or managed by the Company or any of its subsidiaries, or (y)
circumstances forming the basis of any violation of any environmental law, environmental
permit, license, registration or other authorization required under applicable environmental
and/or public health law.
	 
	22.	 	Actions in connection with the Company’s development, use, sale, licensing, distribution,
marketing or offer of products and/or services.
	 
	23.	 	Resolutions and/or actions relating to a merger of the company and/or of its subsidiaries
and/or affiliates, the issuance of shares or securities exercisable into shares of the
Company, changing the share capital of the Company, formation of subsidiaries, reorganization,
winding up or sale of all or part of the business, operations or shares the Company.
	 
	24.	 	Resolutions and/or actions relating to investments in the Company and/or its subsidiaries
and/or affiliated companies and/or the purchase or sale of assets, including the purchase or
sale of companies and/or businesses, and/or investments in corporate or other entities and/or
investments in traded securities and/or any other form of investment.
	 
	25.	 	Any administrative, regulatory or judicial actions, orders, decrees, suits, demands, demand
letters, directives, claims, liens, investigations, proceedings or notices of noncompliance or
violation by any governmental entity or other person alleging the failure to comply with any
statute, law, ordinance, rule, regulation, order or decree of any of its subsidiaries and/or
affiliates, or any of their respective business operations.
	 
	26.	 	Actions relating to the operations and management of the Company and/or its Subsidiaries.
	 
	27.	 	Actions taken in connection with the approval and execution of financial reports and business
reports and the representations made in connection therewith.
	 
	28.	 	Any claim or demand, not covered by any of the categories of events described above, which,
pursuant to any applicable law, a director or officer of the Company may be held liable to any
government or agency thereof, or any person or entity, in connection with actions taken by
such director or officer in such capacity.

10exv10w5

 

Exhibit 10.5

			
	 	 	 
	[*]	 	Certain information in this document has been omitted and filed
separately with the  Securities and Exchange Commission.
Confidential treatment has been requested with  respect to the
omitted portions.

LICENSE AGREEMENT

This Agreement (“Agreement”) between Vitesse Semiconductor Corporation (“Vitesse”), a Delaware
corporation with its principal office at 741 Calle Plano, Camarillo, California 93012, U.S.A. and
Mellanox Technologies, Ltd. (“Mellanox”), an Israeli Company with its principal office at _PO Box
586 Yokneam, Israel 20692, is dated as of September 10, 2001.

Background.

     Vitesse is a leading provider of high-speed physical layer semiconductor products for the
Communications Market. Mellanox is a fabless semiconductor company with special knowledge of
Infiniband technology for switching and routing applications. Mellanox desires to license certain
intellectual property of Vitesse to produce and market certain devices and Vitesse is willing to
license such intellectual property to Mellanox on the terms and conditions set forth in this
Agreement.

     In consideration of the mutual covenants contained in this Agreement and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows:

1. License:

	 	1.1	 	Subject to the payment of Royalties to Vitesse by Mellanox (described in Section 2),
Vitesse hereby grants to Mellanox a non-exclusive, worldwide, perpetual right and license (the
“License”) to:

	 	1.1.1.	 	use the Vitesse Technology, more specifically described on Exhibit A, and all patents,
copyrights, trade secrets, and documentation related thereto, in existence or hereafter created,
modified or developed, that comprise the Vitesse Technology (collectively, the “Technology”) for
the development of the Mellanox devices specified in Exhibit B and upgrades to those devices (the
“Products”) and,
	 
	 	1.1.2.	 	use, make, have made, distribute, market, transfer and sell the Products that incorporate
the Technology.

	 	1.2	 	Vitesse agrees to provide the following to Mellanox:

	 	1.2.1.	 	The 2.5Gb/s SerDes macro cell embodying the Vitesse Technology implemented in TSMC 0.18
micron CMOS process.
	 
	 	1.2.2.	 	Access to future versions of the 2.5Gb/s SerDes macro implemented in more advanced CMOS
technologies as they become available.
	 
	 	1.2.3.	 	Technical support on issues related to functionality as reasonably requested by Mellanox.
	 
	 	1.2.4.	 	Sufficient documentation to enable Mellanox to utilize the Vitesse Technology.
	 
	 	1.2.5.	 	Technical and performance information as developed by Vitesse.
	 
	 	1.2.6.	 	Access to prototypes of the VSC7226 2.5Gb/s SerDes.

 

 

2. Royalty Payment:

	 	2.1	 	Royalty payments for products sold by Mellanox that use the Vitesse Technology will
be based on a per SerDes Port basis per the following table.
	 
	 	2.2	 	Royalty Calculation:
	 
	 	 	 	Total number of devices sold is defined as the aggregate sum of all Mellanox products sold
containing Vitesse Technology, measured in thousands of units (“KU”).

	 
	 	 	 	For each Product sold, Royalties shall be paid as follows:

	 	 	 	 	 	 	 	 	 
	 	 	Royalty per SerDes Port	 	Royalty per SerDes Port
	Total number of devices sold	 	(Products with [*] Ports)	 	(Products with [*] Ports)
	[*]
	 	 	[*]	 	 	 	[*]	 
	[*]
	 	 	[*]	 	 	 	[*]	 
	[*]
	 	 	[*]	 	 	 	[*]	 

	 	2.3	 	Royalties shall be paid quarterly on or before 30 days after the end of the quarter in
which sales of Products giving rise to the Royalty payment obligation occurred. Each
Royalty payment shall be accompanied by a report (the “Report”) setting forth the number
of Mellanox products sold, the number of SerDes ports per product, and the calculation of
the Royalty due thereon.
	 
	 	2.4	 	Mellanox shall each keep accurate and correct records of Products sold under this
Agreement appropriate to determine the amount of royalties due to Vitesse. Such records
shall be retained for at least five (5) years from their creation and shall be available
for audit at the expense of the questioning party by an independent accountant, approved
by both parties, for the sole purpose of verifying royalty payments hereunder. The
selected accountant shall only disclose to the questioning party information relating to
the accuracy of reports and payments made under this Agreement. If an audit shows a
discrepancy in excess of five percent (5%) for any twelve (12) month period, then the
party in error shall reimburse the other for the cost of the audit plus any funds owed
(including an interest rate that equals U.S. federal funds rate plus 5 % on a yearly
basis), such payment to be due within thirty (30) days from the notice of payment due.
An audit may be requested on thirty (30) days prior written notice and not more than once
in any calendar year. Any audit shall be conducted from 9 a.m. to 5 p.m. Monday through
Friday other than on holidays generally recognized by government agencies in the location
where the audited records are located.
	 
	 	2.5	 	Other Considerations

	 	2.5.1.	 	Mellanox agrees that it will only use Vitesse Technology for integrated SerDes
applications during the term of this Agreement.
	 
	 	2.5.2.	 	Mellanox will recommend Vitesse products to customers.

 

			
	[*]	 	Certain information on this page has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

2

 

3. Intellectual Property.

	 	3.1	 	Without written approval by Vitesse, Mellanox has no right to reverse engineer, copy,
duplicate in any way, disassemble, de-compile, or use in any way not specified by this
Agreement, any form of the Technology which is provided to Mellanox under this Agreement.
	 
	 	3.2	 	Title to all materials and all documentation furnished by Vitesse to Mellanox will remain in
Vitesse. Mellanox will deliver to Vitesse any and all materials, documentation and property,
including all copies thereof on whatever media rendered, upon the first to occur of:

	 	3.2.1.	 	Vitesse’s request;
	 
	 	3.2.2.	 	termination of this Agreement.

4. Warranties.

	 	4.1	 	Vitesse represents and warrants to Mellanox as follows:

	 	4.1.1.	 	Vitesse has the authority to grant the rights and License describe herein.
	 
	 	4.1.2.	 	Vitesse owns or has rights to use and exploit the Technology. No material claims
have been made against Vitesse asserting the invalidity or unenforceability of, or with
respect to Technology, the misuse of, the Technology, nor is Vitesse aware that any such
claims exist. Vitesse has not received a notice of conflict of the Technology with the
asserted rights of others, or otherwise challenging its rights to use any of the
Technology. None of the rights of Vitesse under the Technology will be adversely affected
by the execution, delivery or performance of this Agreement, or the consummation of the
transactions contemplated herein.
	 
	 	4.1.3.	 	The Technology will in all relevant ways conform with the Function Data Sheet, of which a
preliminary version is attached hereto as Exhibit A (collectively, the “Specifications”).
	 
	 	4.1.4.	 	If the Technology fails to conform to the Specifications in Exhibit A, Vitesse shall seek to
correct such defect or deficiency as soon as reasonably practicable following receipt of a
notice of such defect or deficiency. If Vitesse does not or cannot correct the defect or
deficiency Mellanox shall have the option of terminating this Agreement in accordance with
Section 8.

5. Confidential Information.

	 	5.1	 	Both parties agree that all confidential and proprietary information will be subject to
the terms and conditions contained in the Non-Disclosure Agreement executed by the parties, dated
as of August 31, 2001 (the “NDA”), which is incorporated herein by reference as Exhibit C. Both
parties shall take all necessary and appropriate steps to maintain the confidentiality of the
intellectual property and trade secrets comprising the Technology and to keep such from entering
the public domain. Mellanox will promptly notify Vitesse of all

3

 

	 	 	 	names of employees, consultants or any other who has been given access to the Technology by
Mellanox.

	 	5.2	 	Neither party will, without the prior written consent of the other party in each instance:

	 	5.2.1.	 	use in advertising, publicity or otherwise the other’s name or the names of the other’s
personnel, nor any trade name, trademark or logo owned by the other or
	 
	 	5.2.2.	 	make any disclosure of the existence or terms of this Agreement other than to a party’s
attorneys, accountants, auditors, investment bankers and other similar advisers who (a)
need to know the information, (b) are informed by you of the confidential nature of the
information and (c) agree to keep the information confidential.

6. Indemnity

	 	6.1	 	Vitesse will indemnify, defend and hold Mellanox harmless from and against any and all
claims, demands, liabilities, losses, damages, judgments or settlements, including all
reasonable costs and expenses related thereto, including attorneys’ fees (“Losses”), to the extent
arising from a claim that the Technology infringes or violates any patent, copyright, mask work
right, trade secret or other intellectual property right of a third party.
	 
	 	6.2	 	Mellanox will indemnify, defend and hold Vitesse harmless from and against any and all
claims, demands, liabilities, losses, damages, judgments or settlements, including all
reasonable costs and expenses related thereto, including attorney’s fees (“Losses”) to the
extent the Products cause damage to property, personal injury and losses resulting therefrom,
and Mellanox is liable for such damage.
	 
	 	6.3	 	Each party will provide the other with reasonable written notice of claims that might trigger
the indemnification obligations above. Vitesse and Mellanox each agrees to provide
reasonable assistance to and cooperate with the other in the defense of any claims of
infringement or violation. The obligations of each party to indemnify the other pursuant to
this Agreement apply only if the party seeking indemnification provides reasonable notice of
and reasonable assistance in defense of any claim or violation as provided above. Further, the
obligations of an indemnifying party to indemnify the indemnified party pursuant to this
Agreement will apply only if, at the indemnifying party’s request, the indemnifying party is
given sole and exclusive control of the defense of such claim or violation and any and all
negotiations relating to such claim or violation. Notwithstanding the foregoing, (a) the
indemnified party may, at its own cost and expense, participate, through attorneys or
otherwise, in such investigation, study and defense of such claim or violation and any appeal
arising therefrom and (b) no settlement of such claim or violation that involves a remedy
other than the payment of money by the indemnifying party will be
entered into by the indemnifying party without the prior written consent of the indemnified
party, which consent will not be unreasonably withheld.

7. Disclaimer of Damages.

	 	7.1	 	Except for its obligations under Section 6, neither party will be liable to the other for
indirect, punitive, special or consequential damages of any nature.

4

 

8. Term and Termination.

	 	8.1	 	This Agreement shall terminate on the failure of a party to cure any material default under
this Agreement within ninety (90) days from the giving of written notice of such default by
the other party (or, if cure cannot be accomplished within ninety days, then failure to use
its best efforts to cure the default within such period).
	 
	 	8.2	 	Effective immediately and without any requirement of notice, either party may, at its
option, terminate this Agreement and/or suspend its performance in the event that:

	 	8.2.1.	 	the other party files a petition in bankruptcy, files a petition seeking any
reorganization, arrangement, composition, or similar relief under any law regarding insolvency or
relief for debtors, or makes an assignment for the benefit of creditors;
	 
	 	8.2.2	 	a receiver, trustee or similar officer is appointed for all or substantially all of the
business or property of such party;
	 
	 	8.2.3.	 	any involuntary petition or proceeding under bankruptcy or insolvency laws is
instituted against such party and not stayed, enjoined or discharged within sixty days; or
	 
	 	8.2.4.	 	the other party adopts a resolution for discontinuance of its business or for
dissolution.

	 	8.3	 	Upon termination of this Agreement by Mellanox without cause, Mellanox shall have the right
thereafter and for a period of one year from the effective date of the termination, to:

	 	8.3.1	 	market or have marketed the Products in stock or production as of the effective date of
termination; and,
	 
	 	8.3.2.	 	complete or have completed all orders and firm commitments for Products accepted or made
prior to the effective date of termination, subject to the payment by Mellanox to Vitesse of
Royalties.

	 	8.4	 	In the event Mellanox ceases to market the Products or fails to keep the Products
reasonably available in the market, Vitesse shall have the right to terminate this Agreement, and
all rights in the Technology shall revert back to Vitesse, subject to Mellanox’s rights to continue
to:

	 	8.4.1.	 	market or have marketed the Products for a period of one year from the effective date
of termination; and
	 
	 	8.4.2.	 	complete or have completed all orders and firm commitments for Products accepted or
made prior to the effective date of termination, subject to the payment by Mellanox to Vitesse of
Royalties.

	 	8.5	 	Termination pursuant to this Agreement shall be without prejudice to any rights or
remedies of the parties at law or in equity and shall not relieve any party from any liabilities
arising prior to such termination.
	 
	 	8.6	 	Royalties are non-refundable and cannot be claimed back by Mellanox upon termination.

5

 

9. Miscellaneous.

	 	9.1	 	Neither party may assign or transfer any interest in this Agreement without the prior written
consent of the other, provided, however, that either party may assign its rights and
obligations to an affiliate or to a successor in interest to substantially all of that party’s
business and assets. This Agreement is binding upon and will inure to the benefit of the
parties and their respective successors, assigns, and legal representatives.
	 
	 	9.2	 	The parties are independent contractors and not partners, agents, or employees of each
other.
	 
	 	9.3	 	This Agreement, the NDA and the Exhibits hereto contain the entire agreement between the parties relating to their subject matter and there are no agreements or
understandings except as set forth herein and therein.
	 
	 	9.4	 	This Agreement will be governed by and construed in accordance with the laws of
California. Contractor agrees that, at Vitesse’s election, all actions and proceedings arising
from or related to this Agreement will be litigated in courts within Los Angeles, California.
Contractor consents and submits to the jurisdiction and venue of any local, state or federal court
located within Los Angeles, California.
	 
	 	9.5	 	If either party employs attorneys to enforce any rights arising out of or relating to this
Agreement, the prevailing party shall be entitled to recover reasonable attorneys’ fees and costs.
	 
	 	9.6	 	This Agreement may not be modified or amended except by a writing signed by both parties.

	 	9.6.1.	 	Any notice required or permitted to be given hereunder shall, except where specifically
provided otherwise, be given in writing to the person listed below by personal delivery, registered
or certified mail, return receipt requested, express delivery service or facsimile. The date upon
which any such notice is personally delivered, (or if the notice is given by registered or
certified mail, three (3) business days from sending, or if by express delivery service or
facsimile upon receipt) shall be deemed to be the date of such notice, irrespective of the date
appearing therein.
	 
	 	 	 	If to Vitesse:            Vitesse Semiconductor Corporation

          741 Calle Plano

          Camarillo, California 93012

          USA

          Attention: Lynn Jones, Manager of Legal Relations

	 	 	 	If to Mellanox:            Mellanox Technologies Inc,

          2900 Stender Way

          Santa Clara, CA 95054

          USA

          Attention: Rachel Voorhees

or addressed to a person or party at such other address as that party may have given by written
notice in accordance with this provision.

6

 

	 	9.7	 	In the event of a breach or threatened breach of the provisions of Section 5, the non-breaching party will be entitled to an injunction restraining such breach or threatened breach
without having to prove actual damages or threatened irreparable harm. Such injunctive relief as
the non-breaching party may obtain will be in addition to all of the rights and remedies available
at law and in equity.
	 
	 	9.8	 	The invalidity in whole or in part of any provision of this Agreement shall not affect the
validity of other provisions.
	 
	 	9.9	 	Either party’s failure to insist on performance of any provision of this Agreement, or to
exercise any right herein conferred, will not be construed as a waiver of the other party’s right
to assert or rely on that provision or right, or any similar provision or right, in any later
instance.
	 
	 	9.10	 	This Agreement may be signed in counterparts and all signed copies of this Agreement will
together constitute one original of this Agreement.

	10.	 	The parties shall perform such further acts and shall execute and deliver such further
instruments as are reasonably necessary to carry out the purposes of this Agreement.
	 
	11.	 	If Mellanox desires to produce devices with additional or other functionality containing
Vitesse’s intellectual property the parties will negotiate, in good faith, the terms and conditions
of a separate agreement.
	 
	12.	 	Sections 2, 3, 4, 5, 6, 7, 8.3, 8.4, 8.5, and 9 will survive the expiration or
termination of this Agreement.

	 	 	 	 	 	 	 	 	 
	VITESSE SEMICONDUCTOR
CORPORATION	 	 	 	MELLANOX TECHNOLOGIES, LTD.
	 
	 	 	 	 	 	 	 	 
	BY:

	 	Michael Millhollen
	 	 	 	BY:
	 	E. Waldman
	 
	 	 	 	 	 	 	 	 
	Title:

	 	Vice President & General Manager	 	 	 	Title:
	 	CEO
	 

	 	Data Communications	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Date:

	 	9/10/01
	 	 	 	Date:
	 	Sept 11, 2001
	 
	 	 	 	 	 	 	 	 

Exhibits:

A: Specification of Vitesse Technology

B: Definition of Mellanox Products Using the Technology

C: NDA

7

 

Exhibit A

The “Technology”

Summary of Vitesse 2.5 Gbs SerDes IP for Mellanox

1. Overview

2. [*]

3. [*]

4. [*]

1. Overview

This summary outlines the salient features of the SerDes intellectual properties (IP’s) developed
by Vitesse Corp. for Mellanox Technologies. The goal is to
[*] [*] with [*] as [*]. The immediate
application is targeted for [*] [*] at [*] data rate. There are [*] to complete the full SerDes [*]
with their [*] name in parentheses:

	•	 	[*]
	 
	 	 	This is the core of the SerDes IP’s which performs basic [*].
	 
	•	 	[*]
	 
	 	 	The [*] of the each [*] is controlled by [*] an [*] in this [*] This [*] is also known as the [*]
block.
	 
	•	 	[*]
	 
	 	 	The [*] generates [*] for me SerDes, the [*], and the [*].

The majority of the building blocks in these [*] have been implemented in [*] [*]
 at the data rate of [*].

2. [*]

The [*] [*] and [*] data stream from and to the [*] through [*] wide [*] interfaces. In most
applications where [*] are required, the [*] is handled in the [*].

	•	 	[*]
	 
	 	 	The[*] [*] the [*] into [*].
	 
	•	 	[*]
	 
	 	 	The [*] recovers both the [*] and [*] components of the [*] and [*] the [*] into [*]. [*] can be
enabled to [*] the [*].
	 
	•	 	[*]
	 
	 	 	The [*] the [*] of the [*] into a [*] for [*] Constrained by [*] the [*] [*] of the [*] require
special [*] of both the [*] and [*] to be [*] in a [*].
	 
	•	 	[*]
	 
	 	 	The [*] is [*] by a [*] from the [*]. The [*] also includes [*] for [*] [*]. Both [*] and [*] are [*] as
part of [*].

 

			
	[*]	 	Certain information on this page has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with
respect to the omitted portions.

8

 

3. [*]

The
[*] [*] also known as the [*]
[*] provides [*] to each [*]. It
requires an [*] that is [*] the [*] [*]. For
example, a [*] of [*] requires a [*]
[*]. The [*] compares the [*] with [*] and provides [*] pattern to each [*] the [*]. This [*] is done [*] and [*] any [*] and [*] of [*].

4. [*]

The
[*] provides the [*] sources from an [*], Including

	•	 	[*]
	 
	•	 	[*]
	 
	•	 	[*]
	 
	•	 	[*].

 

			
	[*]	 	Certain information on this page has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

9

 

 

			
	[*]	 	Certain information on this page has been omitted and filed separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions.

10

 

Exhibit B

The “Products”

     Mellanox Infiniband products

     [*]

 

			
	[*]	 	Certain information on this page has been omitted and filed separately with the
Securities and Exchange Commission. Confidential treatment has been requested with respect to the
omitted portions.

11

 

Exhibit C

Bi-Lateral Confidentiality and Non-Disclosure Agreement

This Bi-Lateral Confidentiality and Non-Disclosure Agreement is entered into and effective on
September 7, 2001 by and between Mellanox Technologies, Ltd. having a principal place of business
at an Israeli Company with its principal office at _PO Box 586 Yokneam, Israel 20692, and Vitesse
Semiconductor Corporation, a Delaware, U.S.A. corporation with a principal place of business at 741
Calle Plano, Camarillo, California 93012.

Either or both Vitesse and Mellanox have disclosed or will disclose to the other certain
confidential and proprietary information (“Information”) further described as: The Technology and
Intellectual Property Described in Exhibit B of this agreement.

The parties desire that Information exchanged be used solely for the purpose of conducting business
with each other and desire to set forth their agreement regarding the limited use and preservation
of confidentiality of such Information. Each of the parties acknowledges that the other party’s
Information is a valuable, special, and unique asset of such party. Each party therefore agrees,
for itself and on behalf of its officers, directors, agents, employees and affiliates, to use
reasonable care to keep all such Information in confidence, to use Information solely for
conducting business with the other, and not to disclose any portion of the Information to any third
party without the prior written consent of the disclosing party.

In order to ensure that the Information disclosed by one party to the other is used only in
accordance with the purposes stated above, the parties agree to the following:

	1.	 	Information that is easily markable, whether in hard copy or electronic form, that the
disclosing party in good faith regards as confidential and/or proprietary will be clearly
marked as “Confidential”, “Proprietary”, or with other words indicating the sensitive nature of
the Information. Any information orally disclosed by one party to the
other will be deemed
Information hereunder if, within thirty (30) days after the disclosure, the disclosing party so
identifies it in writing to the other. Neither party will disclose to third parties or fail to
treat as Information any information received orally from the disclosing party unless the
disclosing party fails for thirty (30) days after such disclosure to identify the Information
disclosed as being confidential or proprietary.
	 
	2.	 	Information otherwise protected hereunder will not include Information that the
receiving party can demonstrate: (i) is now in or hereafter enters the public domain without any
violation of this Agreement, (ii) was known to the receiving party prior to the time of disclosure
by the disclosing party; or (iii) was disclosed in good faith to the receiving party by a third
party legally entitled to disclose the same; provided, however, that specific Information will not
be deemed to be within any of The foregoing exceptions merely because it is in the scope of more
general Information.
	 
	3.	 	If the receiving party is confronted with legal action to disclose Information, the
receiving party will promptly notify the disclosing party. The receiving party will
reasonably assist the disclosing party in obtaining a protective order requiring that any portion
of the Information required to be disclosed be used only for the purpose for which a court issues an
order or for such other purposes as required by law. Each party will bear its own legal expenses.
	 
	4.	 	All Information will remain the property of the disclosing party. At the disclosing
party’s written request, the Information in any tangible form will be promptly returned or
destroyed together with all copies thereof. Upon written request, the receiving party will
provide written certification of the destruction.
	 
	5.	 	The parties each acknowledge that should this Agreement be breached, remedies available at
law are inadequate, and proving damages impracticable. The parties therefore agree that, in
addition to all other rights and remedies available at law or in equity, the aggrieved party will
be entitled to injunctive relief upon any such breach. The breaching party will pay to the
aggrieved party all attorneys’ fees and costs incurred by the aggrieved party as a result of such
breach.
	 
	6	 	All notices required under this Agreement will be considered given if
sent by certified mail, postage prepaid, and addressed as shown in Section 9.6.1
of this agreement (unless the addresses have been changed by written notice):
	 
	7.	 	The term of this Agreement is three (3) years from the effective date. The
obligations under this Agreement will survive for five (5) years following termination of
the parties’ association regardless of the manner of such termination, and will be
binding upon their successors and assigns.
	 
	8.	 	This Agreement will be governed by, and interpreted in accordance with, the
laws of the State of California.
	 
	9.	 	The receiving party will comply in all respects with U.S. Export and Re-Export laws
and regulations applicable to any Information.
	 
	 	 	IN WITNESS WHEREOF, the parties have executed this Agreement in duplicate originals.

	 	 	 	 	 	 	 	 	 
	Vitesse Semiconductor Corporation	 	 	 	Mellanox Technologies, Ltd.
	 
	 	 	 	 	 	 	 	 
	/s/
Michael Millhollen

	 	 	 	 	 	/s/ E. Waldman, CEO

	Name & Title 
	 	 	 	 	 	Name & Title 
	 
	 	 	 	 	 	 	 	 
	Date 9/10/01

	 	 
	 	 	 	Date Sept 11,
2001 

	 
	Vitesse Semiconductor, Corp.

	 	 
	 	 	 	 
	 	 
	 	 	 	 	
	 
	 	 	 	 	 	 	 	 
	Michael Millhollen

	 	 	 	 	 	 	 	 
	Vice President & General Manager

Data Communications

	 	 	 	 	 	 	 	 

12

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