Document:

Amendment No.2 to Registration Rights Agreement

 
Exhibit 10-i(2)

 
November 14, 2002 
 
TPG Wafer Holdings LLC 
Attn.: Richard A. Ekleberry, Esq. 
301 Commerce Street, Suite 3300 
Fort Worth, Texas 76102 
 
Re:    Amendment No. 2 to Registration Rights Agreement

 
Dear Rick: 
 
Reference is made to the Registration Rights Agreement dated as of November 13, 2001, by and between MEMC Electronic Materials, Inc., a
Delaware corporation (the “Company”), the guarantors included on the signature lines thereto (the “Guarantors” and, together with the Company, the “Company Parties”) and TPG Wafer Holdings LLC, a Delaware limited
liability company (together with its permitted assigns, “TPG”), as amended by the letter agreement among the parties dated July 15, 2002 (as amended, the “Agreement”). 
 
The Company Parties and TPG agree that, effective as of the date hereof, the definitions of “Effectiveness Date” and
“Filing Date” as set forth Section 1.2 of the Agreement shall be deleted in their entirety and the following shall substituted in lieu thereof: 
 
“Effectiveness Date” means April 30, 2003. 
 
“Filing Date” means February 28, 2003. 
 
Except as otherwise provided herein, all other terms and conditions of the Agreement shall remain in full force and effect.

 
This letter agreement may be executed in counterparts, each of which shall
be deemed an original, but all of which taken together shall constitute one and the same instrument. 
 
Very truly yours, 
 

	
	 MEMC ELECTRONIC MATERIALS, INC.
  

	 By:
	 	 /s/    James M. Stolze

	 	 	 James M. Stolze
 Executive Vice President and
 Chief Financial Officer

 

 
TPG Wafer Holdings LLC 
Attn.: Richard A. Ekleberry, Esq. 
November 14, 2002 
Page 2 
 
 

	
	 EACH OF THE SUBSIDIARIES LISTED ON
 SCHEDULE 1 HERETO, as Guarantors
  

	 By:
	 	 /s/    Kenneth L. Young

	 	 	 Kenneth L. Young, in his capacity
 as Treasurer for each of the
 Subsidiaries listed on Schedule I hereto

 
ACCEPTED AND AGREED:

 
TPG WAFER HOLDINGS LLC 

	
	 By:
	 	 TPG Wafer Partners LLC,
 its Managing Member

	 	 	 

 

	
	 By:
	 	 TPG Partners III, L.P.,
 its Managing Member

	 	 	 

 

	
	 By:
	 	 TPG GenPar III, L.P.,
 its general partner

	 	 	 

 

	
	 By:
	 	 TPG Advisors III, Inc.
 its general partner

	 	 	 

 

	
	 By:
	 	 /s/    Richard A. Ekleberry

	 	 	 Richard A. Ekleberry
 Vice President

 
Schedule I 
 

	
	 Guarantors:
	 	 MEMC Pasadena, Inc.
 MEMC International, Inc.
 MEMC Southwest Inc.
 SiBond, L.L.C.
 PlasmaSil,
L.L.C.
 MEMC Holdings CorporationForm of Stock Option Agreement(Outside Directors)

  MEMC ELECTRONIC MATERIALS, INC.
 FORM OF STOCK OPTION GRANT AGREEMENT
 1995 Equity Incentive Plan
 Three Year Vesting for Board of Directors
  THIS AGREEMENT, made as of this _______day of ____________, between MEMC Electronic Materials, Inc. (the "Company") and __________________ (the "Director"). 
  WHEREAS, the Company has adopted and maintains the MEMC Electronic Materials, Inc. 1995 Equity Incentive Plan, as amended (the "Plan"), to promote the interests of the Company and its stockholders by providing the Company's key
employees and directors with an appropriate incentive to encourage them to continue in the service of the Company and to improve the growth and profitability of the Company;
  WHEREAS, the Plan
provides for the Grant to directors of Non-Qualified Stock Options to purchase shares of Common Stock of the Company.
  NOW, THEREFORE, in consideration of the mutual covenants set forth in this
Agreement, the parties hereto hereby agree as follows:
  1. Grant of Options. Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Company
hereby grants to the Director a NON-QUALIFIED STOCK OPTION (the "Option") with respect to _________ shares of Common Stock of the Company.
  2. Grant Date. The Grant Date of the Option
hereby granted is as of _______________.
  3. Incorporation of Plan. All terms, conditions and restrictions of the Plan are incorporated herein and made part hereof as if
stated herein. If there is any conflict between the terms and conditions of the Plan and this Agreement, the terms and conditions of the Plan, as interpreted by the Committee, shall govern. All capitalized terms used herein shall have the meaning
given to such terms in the Plan.
  4. Exercise Price. The exercise price of each share underlying the Option hereby granted is $______.
  5.Vesting Date. The Option shall become vested and exercisable as follows: 
 
	  On
 Anniversary of
 Date of Grant 	  The Option will be exercisable for the following portion of the shares of Common Stock underlying the Option 
	 First  	 33 1/3% 
	 Second 	 66 2/3% 
	 Third 	 100% 

     
 Fractional shares shall be rounded down to the nearest whole share. 
 Notwithstanding the foregoing, unless the Committee determines otherwise at a later date, if within the 

  two year period following a Change in Control, the Director's service on the Board of Directors of the Company is terminated by the shareholders of the Company, the entire Option held
by such Director shall become vested and exercisable immediately as of the effective date of the termination of such Director's service on the Board of Directors of the Company. The entire Option held by such Director also shall become vested and
exercisable immediately upon the death or Disability of the Director.
 7. Expiration Date. Subject to the provisions of the Plan and paragraph 6 above, with respect to the Option or any
portion thereof which has not become exercisable, the Option shall expire on the date the Director's service on the Board of Directors of the Company is terminated for any reason; and with respect to the Option or any portion thereof which has
become exercisable, the Option shall expire on the earlier of: (i) 90 days after the date the Director's service on the Board of Directors of the Company is terminated for any reason other than death or Disability; (ii) three years after the date
the Director's service on the Board of Directors of the Company is terminated by reason of the Director's death or Disability and (iii) the 10th anniversary of the Grant Date. 
 8. Delays or
Omissions. No delay or omission to exercise any right, power or remedy accruing to any party hereto upon any breach or default of any party under this Agreement, shall impair any such right, power or remedy of such party nor shall it
be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring nor shall any waiver of any single breach or default be deemed a waiver of any other breach or
default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party or any provisions or
conditions of this Agreement, shall be in writing and shall be effective only to the extent specifically set forth in such writing.
 9. Limitation on Transfer. During the lifetime of the
Director, the Option shall be exercisable only by the Director. The Option shall not be assignable or transferable other than by will or by the laws of descent and distribution. Notwithstanding the foregoing, the Director may request authorization
from the Committee to assign his rights with respect to the Option granted herein to a trust or custodianship, the beneficiaries of which may include only the Director, the Director's spouse or the Director's lineal descendants (by blood or
adoption), and, if the Committee grants such authorization, the Director may assign his rights accordingly. In the event of any such assignment, such trust or custodianship shall be subject to all the restrictions, obligations, and responsibilities
as apply to the Director under the Plan and this Stock Option Grant Agreement and shall be entitled to all the rights of the Director under the Plan. 
 10. Integration. This Agreement,
and the other documents referred to herein or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. There are no restrictions, agreements, promises, representations,
warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth herein. This Agreement, including without limitation the Plan, supersedes all prior agreements and understandings between the
parties with respect to its subject matter.
 11. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
Delaware, without regard to the provisions governing conflict of laws.
 12. Director Acknowledgment. By accepting this grant, the Director acknowledges receipt of a copy of the
Plan, and acknowledges that all decisions, determinations and interpretations of the Committee in respect of the Plan, this Agreement and the Option shall be final and conclusive.

  
	  	 MEMC Electronic Materials, Inc.
 
 By: ______________________________
 Name: John Marren
 Title: Chairman of the BoardForm of Stock Option Agreement (End Of Contract Vesting)

  Exhibit 10-dd(3)
 MEMC ELECTRONIC MATERIALS, INC.
 FORM OF
STOCK OPTION GRANT AGREEMENT
 2001 Equity Incentive Plan
 End of Contract Vesting
 THIS AGREEMENT, made as of this _________day of ____________. ____________, between
MEMC Electronic Materials, Inc. (the "Company") and _____________________ (the "Participant").
 WHEREAS, the Company has adopted and maintains the MEMC Electronic Materials, Inc.
2001 Equity Incentive Plan, as amended (the "Plan"), to promote the interests of the Company and its stockholders by providing the Company's key employees and others with an appropriate incentive to encourage them to continue in the employ of the
Company and to improve the growth and profitability of the Company;
 WHEREAS, the Plan provides for the Grant to Participants in the Plan of Non-Qualified Stock Options to purchase
shares of Common Stock of the Company.
 NOW, THEREFORE, in consideration of the mutual covenants set forth in this Agreement, the parties hereto hereby agree as follows:

1.Grant of Options. Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Participant a
NON-QUALIFIED STOCK OPTION (the "Option") with respect to _____________shares of Common Stock of the Company.
 2.Grant Date. The Grant Date of the Option hereby
granted is as of ________________. 
 3.Incorporation of Plan. All terms, conditions and restrictions of the Plan are incorporated herein and made part hereof as
if stated herein. If there is any conflict between the terms and conditions of the Plan and this Agreement, the terms and conditions of the Plan, as interpreted by the Committee, shall govern. All capitalized terms used herein shall have the meaning
given to such terms in the Plan.
 4.Retirement. For purposes of this Agreement, Retirement shall mean retirement from active employment with the Company and its
subsidiaries on or after the attainment of age 65, or after attainment of age 55 and completion of 10 years of service with the Company. 
 5.Exercise Price. The
exercise price of each share underlying the Option hereby granted is $_________.
 6.Vesting Date. The Option shall become vested and exercisable ___________,
_________. Notwithstanding the foregoing, unless the Committee determines otherwise at a later date, if within the two year period following a Change in Control the Participant's Employment is terminated by the Company or its Affiliate without Cause
or by the Participant for Good Reason, the entire Option held by such Participant shall become vested and exercisable immediately as of the effective date of the termination of such Participant's Employment. The entire Option held by such
Participant also shall become vested and exercisable immediately upon the death or Disability of the Participant.
 7.Expiration Date. Subject to the provisions of
the Plan and paragraph 6 above, with respect to the Option or any portion thereof which has not become exercisable, the Option shall expire on the date the Participant's Employment is terminated for any reason, and with respect to the Option or any
portion thereof which has become exercisable, the Option shall expire on the earlier of: (i) the commencement of business on the date the Participant's Employment is terminated for Cause; (ii) 90 days after the date 
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  the Participant's Employment is terminated for any reason other than Cause, death, Disability or Retirement; (iii) one year after the date of the Participant's
Employment is terminated by reason of the Participant's death; (iv) one year after the date the Participant's Employment is terminated by reason of Disability or Retirement, provided, however, that if during such one year period following the
termination of the Participant's Employment by reason of Disability or Retirement the Participant dies, the Participant's legal representative or beneficiary may exercise the Participant's Option(s), or any portion thereof, which have become
exercisable on the date of the Participant's Employment is terminated for a period of one year from the date of the Participant's death; or (iv) the 10th anniversary of the Grant Date.
 8.Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party hereto upon any breach or default of any party under this Agreement, shall impair any such right, power or remedy
of such party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring nor shall any waiver of any single breach or default be deemed a waiver
of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party or
any provisions or conditions of this Agreement, shall be in writing and shall be effective only to the extent specifically set forth in such writing.
 9.Limitation on
Transfer. During the lifetime of the Participant, the Option shall be exercisable only by the Participant. The Option shall not be assignable or transferable other than by will or by the laws of descent and distribution. Notwithstanding the
foregoing, the Participant may request authorization from the Committee to assign his rights with respect to the Option granted herein to a trust or custodianship, the beneficiaries of which may include only the Participant, the Participant's spouse
or the Participant's lineal descendants (by blood or adoption), and, if the Committee grants such authorization, the Participant may assign his rights accordingly. In the event of any such assignment, such trust or custodianship shall be subject to
all the restrictions, obligations, and responsibilities as apply to the Participant under the Plan and this Stock Option Grant Agreement and shall be entitled to all the rights of the Participant under the Plan. 
 10.Integration. This Agreement, and the other documents referred to herein or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with
respect to its subject matter. There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth herein. This Agreement, including
without limitation the Plan, supersedes all prior agreements and understandings between the parties with respect to its subject matter.
 11.Governing Law. This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware, without regard to the provisions governing conflict of laws.
 12.Participant Acknowledgment. By accepting this grant, the Participant acknowledges receipt of a copy of the Plan, and acknowledges that all decisions, determinations and interpretations of the Committee in respect of
the Plan, this Agreement and the Option shall be final and conclusive.
 
 
	   	 MEMC ELECTRONIC MATERIALS, INC. 
	   	  
	  	 By:_________________________________ 

 
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