Document:

Convertible note hedge transaction confirmation

 Exhibit 10.1 
 GOLDMAN, SACHS & CO. | ONE NEW YORK PLAZA | NEW YORK, NEW YORK 10004 | TEL: (212) 902-1000 
 Opening
Transaction 
  

			
	To:	  	 Teradyne, Inc.
 600 Riverpark Drive
 North Reading, MA 01864

		
	A/C:	  	028400547
		
	From:	  	Goldman, Sachs & Co.
		
	Re:	  	Convertible Bond Hedge Transaction
		
	Ref. No:	  	SDB1630292323
		
	Date:	  	March 31, 2009

 Dear Sir(s): 
 The purpose of this communication (this “Confirmation”) is to set forth the terms and conditions of the above-referenced transaction entered into on the Trade Date specified below (the “Transaction”)
between Goldman, Sachs & Co. (“Dealer”) and Teradyne, Inc. (“Counterparty”). This communication constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below.

 1. This Confirmation is subject to, and incorporates, the definitions and provisions of the 2000 ISDA Definitions (including the Annex
thereto) (the “2000 Definitions”) and the definitions and provisions of the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”, and together with the 2000 Definitions, the
“Definitions”), in each case as published by the International Swaps and Derivatives Association, Inc. (“ISDA”). In the event of any inconsistency between the 2000 Definitions and the Equity Definitions, the Equity
Definitions will govern. Certain defined terms used herein have the meanings assigned to them in the Indenture to be dated as of April 6, 2009 between Counterparty and U.S. Bank National Association, as trustee (the
“Indenture”) relating to the USD $175,000,000 principal amount of 4.50% convertible senior notes due 2014 (the “Convertible Securities”). In the event of any inconsistency between the terms defined in the Indenture
and this Confirmation, this Confirmation shall govern. For the avoidance of doubt, references herein to sections of the Indenture are based on the draft of the Indenture most recently reviewed by the parties at the time of execution of this
Confirmation. If any relevant sections of the Indenture are changed, added or renumbered between the execution of this Confirmation and the execution of the Indenture, the parties will amend this Confirmation in good faith to preserve the economic
intent of the parties, as evidenced by such draft of the Indenture. The parties further acknowledge that references to the Indenture herein are references to the Indenture as in effect on the date of its execution and if the Indenture is amended
following its execution, any such amendment will be disregarded for purposes of this Confirmation (other than Section 8(b)(ii) below) unless the parties agree otherwise in writing. The Transaction is subject to early unwind if the closing of
the Convertible Securities is not consummated for any reason, as set forth below in Section 8(k). 
 Each party is hereby advised, and
each such party acknowledges, that the other party has engaged in, or refrained from engaging in, substantial financial transactions and has taken other material actions in reliance upon the parties’ entry into the Transaction to which this
Confirmation relates on the terms and conditions set forth below. 

 This Confirmation evidences a complete and binding agreement between Dealer and Counterparty as to the
terms of the Transaction to which this Confirmation relates. This Confirmation shall be subject to an agreement (the “Agreement”) in the form of the 2002 ISDA Master Agreement as if Dealer and Counterparty had executed an agreement
in such form on the date hereof (but without any Schedule except for (i) the election of New York law (without reference to its choice of laws doctrine, other than Title 14 of the New York General Obligations Law) as the governing law and US
Dollars (“USD”) as the Termination Currency, and (ii) the election that the “Cross Default” provisions of Section 5(a)(vi) of the Agreement shall apply to Counterparty with a “Threshold Amount” of USD25
million); provided that Section 5(a)(vi)(1) is amended by deleting the phrase “, or becoming capable at such time of being declared,”. 
 All provisions contained in, or incorporated by reference to, the Agreement will govern this Confirmation except as expressly modified herein. In the event of any inconsistency between this Confirmation and either the
Definitions or the Agreement, this Confirmation shall govern. 
 The Transaction hereunder shall be the sole Transaction under the Agreement.
If there exists any ISDA Master Agreement between Dealer and Counterparty or any confirmation or other agreement between Dealer and Counterparty pursuant to which an ISDA Master Agreement is deemed to exist between Dealer and Counterparty, then
notwithstanding anything to the contrary in such ISDA Master Agreement, such confirmation or agreement or any other agreement to which Dealer and Counterparty are parties, the Transaction shall not be considered a Transaction under, or otherwise
governed by, such existing or deemed ISDA Master Agreement. 
 2. The Transaction constitutes a Share Option Transaction for purposes of the
Equity Definitions. The terms of the particular Transaction to which this Confirmation relates are as follows: 
  

					
	General Terms:	  		  	
		
	 Trade Date:
	  	March 31, 2009
		
	 Effective Date:
	  	The closing date of the initial issuance of the Convertible Securities.
		
	 Option Style:
	  	Modified American, as described under “Procedures for Exercise” below.
		
	 Option Type:
	  	Call
		
	 Seller:
	  	Dealer
		
	 Buyer:
	  	Counterparty
		
	 Shares:
	  	The Common Stock of Counterparty, par value USD 0.125 (Ticker Symbol: “TER”).
		
	 Number of Options:
	  	The number of Convertible Securities in denominations of USD1,000 principal amount issued by Counterparty on the closing date for the initial issuance of the Convertible Securities;
provided that the Number of Options shall be automatically increased as of the date of exercise by the Underwriters (as defined in the Underwriting Agreement), of their option (the “Additional Convertible Securities Option”)
pursuant to Section 2 of the Underwriting Agreement dated as of March 31, 2009 between Counterparty and the Underwriters (the “Underwriting Agreement”) by the number of

  

 2 

					
		  	Convertible Securities in denominations of USD1,000 principal amount issued pursuant to such exercise (such Convertible Securities, the “Additional Convertible
Securities”. For the avoidance of doubt, the Number of Options outstanding shall be reduced by each exercise of Options hereunder and in no event shall be less than zero.
		
	 Option Entitlement:
	  	As of any date, a number of Shares per Option equal to the “Conversion Rate” (as defined in the Indenture, but without regard to any adjustments to the Conversion Rate
pursuant to Sections 15.03 or 15.04(i) of the Indenture).
		
	 Strike Price:
	  	As of any date, an amount in USD, rounded to the nearest cent (with 0.5 cents being rounded upwards), equal to USD1,000 divided by the Option Entitlement as of such
date.
		
	 Number of Shares:
	  	The product of the Number of Options and the Option Entitlement.
		
	 Premium:
	  	USD59,515,000 (Premium per Option USD1.8619693); provided that if the Number of Options is increased pursuant to the proviso to the definition of “Number of Options”
above, an additional Premium equal to the product of the number of Options by which the Number of Options is so increased and the Premium per Option shall be paid on the Additional Premium Payment Date.
		
	 Premium Payment Date:
	  	The Effective Date
		
	 Additional Premium Payment Date:
	  	The closing date for the purchase and sale of the Additional Convertible Securities.
		
	 Exchange:
	  	New York Stock Exchange
		
	 Related Exchange:
	  	All Exchanges
		
	Procedures for Exercise:	  	
		
	 Exercise Date:
	  	Each Conversion Date.
		
	 Conversion Date:
	  	Each “Conversion Date” (as defined in the Indenture) occurring during the Exercise Period for Convertible Securities each in denominations of USD1,000 principal amount,
(such Convertible Securities, the “Relevant Convertible Securities” for such Conversion Date).
		
	 Exercise Period:
	  	The period from and excluding the Effective Date to and including the Expiration Date.
		
	 Expiration Date:
	  	The earlier of (i) the last day on which any Convertible Securities remain outstanding and (ii) the second “Scheduled Trading Day” (as defined in the Indenture) immediately
preceding the “Maturity Date” (as defined in the Indenture).

  

 3 

					
		
	 Automatic Exercise on Conversion Dates:
	  	Subject to “Notice of Exercise” below, on each Conversion Date, a number of Options equal to the number of Relevant Convertible Securities for such Conversion Date in
denominations of USD1,000 principal amount shall be automatically exercised.
		
	 Notice Deadline:
	  	In respect of any exercise of Options hereunder, 12:00 P.M., New York City time, on the Scheduled Trading Day immediately following the relevant Exercise Date.
		
	 Final Conversion Period:
	  	The period from and including the 30th Scheduled Trading Day (as defined in the Indenture) prior to the Maturity Date to and including the Expiration Date.
		
	 Final Conversion Notice Period:
	  	The period from and including the 60th Scheduled Trading Day (as defined in the Indenture) prior to the Maturity Date to and including the Expiration Date.
		
	 Notice of Exercise:
	  	Notwithstanding anything to the contrary in the Equity Definitions, Dealer shall have no obligation to make any payment or delivery in respect of any exercise of Options hereunder
unless:
		
		  	 (a)     in respect of Exercise Dates occurring prior to the Final Conversion Notice Period, Counterparty
notifies Dealer in writing prior to the Notice Deadline in respect of such exercise of (i) the Conversion Date and the number of Relevant Convertible Securities being converted on such Conversion Date, (ii) whether Convertible Cash Settlement,
Convertible Net Share Settlement or Convertible Gross Share Settlement is applicable to such Relevant Convertible Securities, (iii) the scheduled settlement date under the Indenture for the Relevant Convertible Securities for such Conversion Date,
and (iv) the first Scheduled Trading Day (as defined in the Indenture) of the relevant Observation Period (as defined in the Indenture), if Convertible Cash Settlement or Convertible Net Share Settlement is applicable;

		
		  	 (b)     in respect of Exercise Dates occurring during the Final Conversion Notice Period but prior to the
Final Conversion Period, Counterparty notifies Dealer in writing (i) on or prior to the Scheduled Trading Day immediately preceding the first day of the Final Conversion Notice Period, whether Counterparty has made the Final Cash Settlement Election
or the Final Gross Share Settlement Election, and (ii) prior to the Notice Deadline in respect of such exercise, of (A) the number of Relevant Convertible Securities being converted on the related Conversion Date, (B) the scheduled
settlement date under the Indenture for the Relevant Convertible Securities for such Conversion Date and (C) if Counterparty has not made the Final Gross Share Settlement Election, the first Scheduled Trading Day (as defined in the Indenture) of the
relevant Observation Period (as defined in the Indenture); or

  

 4 

					
		  	 (c)     in respect of Exercise Dates occurring during the Final Conversion Period, Counterparty notifies
Dealer in writing (i) on or prior to the first day of the Final Conversion Notice Period, whether Counterparty has made the Final Cash Settlement Election or the Final Gross Share Settlement Election, and (ii) prior to the Notice Deadline in
respect of such exercise, of the number of Relevant Convertible Securities being converted on the related Conversion Date.

		
		  	For the avoidance of doubt, if Counterparty fails to give such notice prior to the Notice Deadline in respect of any exercise of Options hereunder, Dealer’s obligation to make
any payment or delivery in respect of such exercise shall be permanently extinguished, and late notice shall not cure such failure.
		
	 Payment upon Conversion of Relevant Convertible Securities:
	  	For any Conversion Date, the Relevant Convertible Securities may, at Counterparty’s election in accordance with Section 15.02(a) of the Indenture, either be (a) net share
settled pursuant to Section 15.02(a)(iii) of the Indenture (such settlement, “Convertible Net Share Settlement”), in which case the terms set forth herein as being applicable to Convertible Net Share Settlement shall apply in
respect of the related Exercise Date, (b) gross physical share settled pursuant to Section 15.02(a)(i) of the Indenture (such settlement, “Convertible Gross Share Settlement”), in which case the terms set forth herein as being
applicable to Convertible Gross Share Settlement shall apply in respect of the related Exercise Date, or (c) cash settled pursuant to Section 15.02(a)(ii) of the Indenture (such settlement, “Convertible Cash Settlement”), in which
case the terms set forth herein as being applicable to Convertible Cash Settlement shall apply in respect of the related Exercise Date. In accordance with the Indenture, in order for Convertible Cash Settlement or Convertible Gross Share Settlement
to be applicable in respect of Conversion Dates occurring during the Final Conversion Notice Period, Counterparty must make an irrevocable election in accordance with Section 15.02(b) of the Indenture prior to the commencement of such period (such
notice, the “Final Cash Settlement Election” or the “Final Gross Share Settlement Election”, as the case may be).

  

 5 

					
			
	 Dealer’s Telephone Number and Telex and/or Facsimile Number and Contact Details for purpose of Giving Notice:
	  	To:	  	Goldman, Sachs & Co.
		  		  	One New York Plaza
		  		  	New York, NY 10004
		  	Attn:	  	Serge Marquié,
		  		  	Equity Capital Markets
		  	Telephone:	  	212-902-9779
		  	Facsimile:	  	917-977-4253
		  	Email:	  	marqse@am.ibd.gs.com
		
		  	With a copy to:
			
		  	Attn:	  	Brian Smith,
		  		  	Equity Capital Markets
		  	Telephone:	  	212-902-0058
		  	Facsimile:	  	212-412-9881
		  	Email:	  	smibri@am.ibd.gs.com
		
		  	And email notification to the following address:
		  	Eq-derivs-notifications@am.ibd.gs.com
		
	Settlement Terms:	  	
		
	 Settlement Date:
	  	
		
		  	For any Exercise Date, (i) if Convertible Net Share Settlement is applicable, the settlement date for the Shares to be delivered in respect of the Relevant Convertible Securities
for the relevant Conversion Date under the terms of the Indenture, (ii) if Convertible Gross Share Settlement is applicable, the date that is one Settlement Cycle following the last day of the applicable Deemed Observation Period, or (iii) if
Convertible Cash Settlement is applicable, the settlement date for the cash to be paid in respect of the Relevant Convertible Securities for the relevant Conversion Date under the terms of the Indenture; provided, that, in each case, the
Settlement Date shall not be prior to the Exchange Business Day immediately following the date Counterparty provides the Notice of Exercise.
		
	 Delivery Obligation:
	  	In lieu of the obligations set forth in Sections 8.1 and 9.1 of the Equity Definitions, and subject to “Notice of Exercise” above, in respect of an Exercise Date, Dealer
will deliver or pay, as applicable, the following to Counterparty on the related Settlement Date (the “Delivery Obligation” for such Exercise Date):
		
		  	 (a)     If Convertible Cash Settlement is applicable to the Relevant Convertible Securities, an amount
of cash in USD equal to the aggregate amount of cash in USD that Counterparty is obligated to deliver to the holder(s) of the Relevant Convertible Securities for such Conversion Date pursuant to Section 15.02(a)(ii) of the
Indenture

  

 6 

					
		  	 (collectively, the “Convertible Cash Obligation”) minus the aggregate principal amount of such Relevant Convertible Securities;
provided that the Delivery Obligation set forth in this clause (a) shall be determined excluding any cash that Counterparty is obligated to deliver to holder(s) of the Relevant Convertible Securities as a direct or indirect result of any
adjustments to the Conversion Rate pursuant to Sections 15.03 and 15.04(i) of the Indenture and any interest payment that Counterparty is (or would have been) obligated to pay to holder(s) of the Relevant Convertible Securities for such Conversion
Date. For the avoidance of doubt, if the “Daily Conversion Value” (as defined in the Indenture) for each of the “VWAP Trading Days” (as defined in the Indenture) occurring in the relevant Observation Period is less than or equal
to USD40, Dealer will have no delivery obligation hereunder in respect of the related Exercise Date.

		
		  	 (b)     If Convertible Net Share Settlement is applicable to the Relevant Convertible Securities, the
Convertible Share Obligation; provided that the Delivery Obligation set forth in this clause (b) shall be determined excluding any Shares (and cash in lieu of fractional Shares, if any) that Counterparty is obligated to deliver to
holder(s) of the Relevant Convertible Securities as a direct or indirect result of any adjustments to the Conversion Rate pursuant to Sections 15.03 and 15.04(i) of the Indenture and any interest payment that Counterparty is (or would have
been) obligated to deliver to holder(s) of the Relevant Convertible Securities for such Conversion Date. For the avoidance of doubt, if the “Daily Conversion Value” (as defined in the Indenture) for each of the “VWAP Trading
Days” (as defined in the Indenture) occurring in the relevant Observation Period is less than or equal to USD40, Dealer will have no delivery obligation hereunder in respect of the related Exercise Date.

		
		  	 (c)     If Convertible Gross Share Settlement is applicable to the Relevant Convertible Securities, the
lesser of:

		
		  	 (i)      (A) a number of Shares equal to the aggregate number of Shares, if any, that
Counterparty would have been obligated to deliver to the holder(s) of Relevant Convertible Securities for such Conversion Date pursuant to Section 15.02(a)(iii) the Indenture, as modified in the immediately following sentence, and (B) cash
in the

  

 7 

					
		  	 Settlement Currency in lieu of fractional Shares, if any, resulting from rounding; provided that such number of Shares shall be determined (x)
without taking into consideration any rounding pursuant to Section 15.02(k) of the Indenture and shall be rounded down to the nearest whole number and (y) excluding any Shares (and cash in lieu of fractional Shares, if any) that Counterparty is
obligated to deliver to holder(s) of the Relevant Convertible Securities as a direct or indirect result of any adjustments to the Conversion Rate pursuant to Sections 15.03 and 15.04(i) of the Indenture and (z) excluding any interest payment that
Counterparty is (or would have been) obligated to deliver to holder(s) of the Relevant Convertible Securities for such Conversion Date. For purposes of this clause (c)(i), the number of Shares deemed deliverable pursuant to Section 15.02(a)(iii) of
the Indenture shall be determined as if:

		
		  	 (1)     the Observation Period with respect to any Conversion Date (such period, the “Deemed
Observation Period” in respect of such Conversion Date) meant (A) with respect to Conversion Dates occurring during the Final Conversion Notice Period, the 50 consecutive VWAP Trading Day period beginning on, and including, the 52nd
Scheduled Trading Day (as defined in the Indenture) prior to the Maturity Date (or if such day is not a VWAP Trading Day, the next succeeding VWAP Trading Day) and (B) with respect to Conversion Dates occurring prior to the Final Conversion
Notice Period, the 50 consecutive VWAP Trading Day period beginning on and including the 3rd VWAP Trading Day after such Conversion Date;

		
		  	 (2)     the amount of cash for purposes of determining the Daily Settlement Amount were USD20 instead of
USD 40;

		
		  	 (3)     the fraction in the definition of Daily Conversion Value were  1
/50th instead of  1/25th; and

		
		  	 (4)     the figure “25” in the definition of Daily VWAP were replaced with “50”; and

		
		  	 (ii)     a number of Shares (rounded down to the nearest whole number) equal to the
Net

  

 8 

					
		  	 Convertible Share Obligation Value divided by the Share Obligation Value Price and cash in the Settlement Currency in lieu of fractional Shares,
if any, resulting from such rounding.

		
		  	For the avoidance of doubt, (x) if the “Daily Conversion Value” (as defined in the Indenture) for each of the VWAP Trading Days occurring in the relevant Deemed Observation
Period is less than or equal to USD20, Dealer will have no Delivery Obligation hereunder in respect of the related Exercise Date, and (y) any cash amount in lieu of fractional shares shall be based on the Daily VWAP (as defined in the Indenture) of
Shares on the last day of the relevant Observation Period or Deemed Observation Period, as applicable.
		
		  	With respect to clauses (a), (b) and (c) above, the Shares and/or cash, as applicable, constituting the Delivery Obligation shall be delivered by Dealer to Counterparty no later than
5:00 P.M. (local time in New York City) on the related Settlement Date.
		
	 Convertible Share Obligation:
	  	(i) A number of Shares equal to the aggregate number of Shares, if any, that Counterparty is obligated to deliver to the holder(s) of the Relevant Convertible Securities for such
Conversion Date pursuant to Section 15.02(a)(iii) of the Indenture (except that such number of Shares shall be determined without taking into consideration any rounding pursuant to Section 15.02(k) of the Indenture and shall be rounded down to the
nearest whole number) and (ii) cash in the Settlement Currency in lieu of fractional Shares, if any, resulting from such rounding.
		
	 Settlement Currency:
	  	USD
		
	 Notice of Delivery Obligation:
	  	(i) If Convertible Cash Settlement is applicable, then, no later than the Exchange Business Day immediately following the last day of the relevant Observation Period, Counterparty
shall give Dealer notice of the final amount of cash comprising the relevant Convertible Cash Obligation and the related aggregate principal amount of the Relevant Convertible Securities;
		
		  	(ii) If Convertible Net Share Settlement is applicable, then, no later than the Exchange Business Day immediately following the last day of the relevant Observation Period,
Counterparty shall give Dealer notice of the final number of Shares (and cash in lieu of fractional Shares, if any) comprising the relevant Convertible Share Obligation, or,
		
		  	(iii) if Convertible Gross Share Settlement is applicable, then, no later than the Exchange Business Day immediately following the relevant Conversion

  

 9 

					
		  	Date, Counterparty shall give Dealer notice of (A) the final number of Shares deliverable by the Counterparty pursuant to Section 15.02(a)(i) of the Indenture (except that, in each
case, such number of Shares shall be determined without taking into consideration any rounding pursuant to Section 15.02(k) of the Indenture and shall be rounded down to the nearest whole number) and (B) the aggregate amount of cash payable in lieu
of fractional Shares, if any;
		
		  	provided that, (i) with respect to any Exercise Date occurring during the Final Conversion Period, then if Convertible Net Share Settlement is applicable Counterparty may
provide Dealer with a single notice of the aggregate number of Shares (and cash in lieu of fractional Shares) comprising the Convertible Share Obligations for all Exercise Dates occurring during such period; (ii) with respect to any Exercise Date
occurring during the Final Conversion Period, if Convertible Cash Settlement is applicable Counterparty may provide Dealer with a single notice of the aggregate amount of cash comprising the Convertible Cash Obligation and the related aggregate
principal amount of the Relevant Convertible Securities for all Exercise Dates occurring during such period; and (iii) with respect to any Exercise Date occurring on or after the first day of the Final Conversion Notice Period, if Convertible Gross
Share Settlement is applicable Counterparty may provide Dealer with a single notice of the aggregate number of Shares (and cash in lieu of fractional Shares) deliverable pursuant to Section 15.02(a)(i) of the Indenture (determined without taking
into consideration any rounding pursuant to Section 15.02(k) of the Indenture and rounded down to the nearest whole number) for all Exercise Dates occurring during such period (it being understood, for the avoidance of doubt, that the requirement of
Counterparty to deliver such notice pursuant to (i), (ii) or (iii) above or this proviso shall not limit Counterparty’s obligations with respect to Notice of Exercise, as set forth above, in any way).
		
	 Net Convertible Share Obligation Value:
	  	With respect to Relevant Convertible Securities as to a Conversion Date, (i) the Total Convertible Share Obligation Value of such Relevant Convertible Securities for such Conversion
Date minus (ii) the aggregate principal amount of such Relevant Convertible Securities for such Conversion Date.
		
	 Total Convertible Share Obligation Value:
	  	With respect to Relevant Convertible Securities as to a Conversion Date, (a)(i) the number of Shares equal to the aggregate number of Shares, if any, that Counterparty is obligated
to deliver to the holder(s) of Relevant Convertible Securities for such Conversion

  

 10 

					
		  	Date pursuant to Section 15.02(a)(i) of the Indenture (except that such number of Shares shall be determined (x) without taking into consideration any rounding pursuant to Section
15.02(k) of the Indenture and shall be rounded down to the nearest whole number) and (y) shall be reduced by any Shares (and cash in lieu of fractional Shares, if any) that Counterparty is obligated to deliver to holder(s) of the Relevant
Convertible Securities as a direct or indirect result of any adjustments to the Conversion Rate pursuant to Sections 15.03 and 15.04(i) of the Indenture and (z) shall be reduced by any interest payment that Counterparty is (or would have been)
obligated to deliver to holder(s) of the Relevant Convertible Securities for such Conversion Date pursuant to the Indenture, multiplied by (ii) the Share Obligation Value Price plus (b) an amount equal to (i) the fractional Shares, if any,
that would have resulted but for the rounding under (a)(i) above multiplied by (ii) the Share Obligation Value Price.
		
	 Share Obligation Value Price:
	  	The opening price as displayed under the heading “Op” on Bloomberg page TER.N <equity> (or any successor thereto) on the applicable Settlement Date (determined in
accordance with clause (ii) of “Settlement Date” above).
		
	 Other Applicable Provisions:
	  	To the extent Dealer is obligated to deliver Shares hereunder, the provisions of Sections 9.1(c), 9.8, 9.9, 9.10, 9.11 and 9.12 of the Equity Definitions will be applicable as if
“Physical Settlement” applied to the Transaction; provided that the Representation and Agreement contained in Section 9.11 of the Equity Definitions shall be modified by excluding any representations therein relating to
restrictions, obligations, limitations or requirements under applicable securities laws that exist as a result of the fact that Counterparty is the issuer of the Shares.
		
	 Restricted Certificated Shares:
	  	Notwithstanding anything to the contrary in the Equity Definitions, Dealer may, in whole or in part, deliver Shares required to be delivered to Counterparty hereunder in certificated
form in lieu of delivery through the Clearance System.
			
	Adjustments:	  		  	
		
	 Method of Adjustment:
	  	Notwithstanding Section 11.2 of the Equity Definitions, upon the occurrence of any event or condition set forth in Section 15.04 clauses (a) through (e) (an “Adjustment
Event”) of the Indenture, the Calculation Agent shall make the corresponding adjustment in respect of any one or more of the Number of Options, the Option Entitlement and any other variable relevant to the exercise, settlement or payment of the
Transaction, to

  

 11 

					
		  	the extent an analogous adjustment is made under the Indenture. Immediately upon the occurrence of any Adjustment Event, Counterparty shall notify the Calculation Agent of such
Adjustment Event; and once the adjustments to be made to the terms of the Indenture and the Convertible Securities in respect of such Adjustment Event have been determined, Counterparty shall immediately notify the Calculation Agent in writing of
the details of such adjustments.
	Extraordinary Events:	  		  	
		
	 Merger Events:
	  	Notwithstanding Section 12.1(b) of the Equity Definitions, a “Merger Event” means the occurrence of any event or condition set forth in Section 15.06 of the
Indenture.
		
	 Consequences of Merger Events:
	  	Notwithstanding Section 12.2 of the Equity Definitions, upon the occurrence of a Merger Event, the Calculation Agent shall make the corresponding adjustment in respect of any
adjustment under the Indenture to any one or more of the nature of the Shares, the Number of Options, the Option Entitlement and any other variable relevant to the exercise, settlement or payment for the Transaction, to the extent an analogous
adjustment is made under the Indenture in respect of such Merger Event; provided that such adjustment shall be made without regard to any adjustment to the Conversion Rate for the issuance of additional cash or Shares as set forth in Sections
15.03 and 15.04(i) of the Indenture; and provided further that the Calculation Agent may limit or alter any such adjustment referenced in this paragraph so that the Delivery Obligation per Option for Exercise Dates occurring after such
adjustment does not exceed the amount of cash, Shares or other securities or property that Counterparty is obligated to deliver to the holder(s) of the Relevant Convertible Securities for such Exercise Date (including, for the avoidance of doubt,
any cash, Shares or other securities or property that Counterparty is obligated to deliver to such holder(s) as a direct or indirect result of any adjustments to the Conversion Rate pursuant to Sections 15.03 and 15.04(i) of the
Indenture).
		
	 Notice of Merger Consideration and Consequences:
	  	Upon the occurrence of a Merger Event that causes the Shares to be converted into the right to receive more than a single type of consideration (determined based in part upon any
form of stockholder election), Counterparty shall reasonably promptly (but in any event prior to the Merger Date) notify the Calculation Agent of (i) the type and amount of consideration that a holder of Shares would have been entitled to in the
case of reclassifications, consolidations, mergers, sales or transfers of assets or other transactions that

  

 12 

					
		  	cause Shares to be converted into the right to receive more than a single type of consideration, (ii) if holders of a majority of Shares affirmatively make such an election, the
weighted average of the types and amounts of consideration received by the holders of Shares that affirmatively make such an election (or if holders of less than a majority of Shares affirmatively make such an election, the types and amount of
consideration actually received by such holders), and (iii) the details of the adjustment made under the Indenture in respect of such Merger Event.
		
	 Nationalization, Insolvency or Delisting:
	  	Cancellation and Payment (Calculation Agent Determination); provided that in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also
constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their
respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any such exchange or quotation system, such exchange or quotation system shall thereafter be deemed to be the Exchange.
		
	 Additional Termination Event(s):
	  	Notwithstanding anything to the contrary in the Equity Definitions, if, as a result of an Extraordinary Event, any Transaction would be cancelled or terminated (whether in whole
or in part) pursuant to Article 12 of the Equity Definitions, an Additional Termination Event (with such terminated Transaction(s) (or portions thereof) being the Affected Transaction(s) and Counterparty being the sole Affected Party) shall be
deemed to occur, and, in lieu of Sections 12.7, 12.8 and 12.9 of the Equity Definitions, Section 6 of the Agreement shall apply to such Affected Transaction(s).
			
	 Additional Disruption Events:
	  		  	
		
	 (a) Change in Law:
	  	Applicable; provided that (i) clause (Y) of Section 12.9(a)(ii) of the Equity Definitions shall not be applicable only to the extent as any event described therein results
in an increased cost to Dealer of hedging the Transaction which increased cost would be included under “Increased Cost of Hedging” and (ii) in the event a Change in Law occurs in respect of Dealer pursuant to clause (Y) of Section
12.9(a)(ii) of the Equity Definitions (taking into account clause (i) of this proviso) and Dealer provides a notice of termination to Counterparty pursuant to Section 12.9(b)(i) of the Equity Definitions, Counterparty shall have the right to
request, upon written notice delivered to Dealer prior to 5 P.M. (New York City time) on the Scheduled Trading Day immediately prior to the date of termination specified in such

  

 13 

					
		  	notice, that Dealer propose an adjustment to the terms of the Transaction to account for the effect of such Change in Law on Dealer. If Counterparty accepts Dealer’s proposed
adjustment prior to 5 P.M. on the second Scheduled Trading Day following the date such proposed adjustment is delivered, Dealer shall so adjust the Transaction and such event shall not constitute a Change in Law. However, if (x) Counterparty does
not accept such proposed adjustment prior to such time or (y) Dealer determines, in its sole discretion, that no adjustment that it could make would produce a commercially reasonable result, then such event shall constitute a Change in Law and, in
each case, Dealer shall have the right to specify a date of termination in accordance with Section 12.9(b)(i); provided that such date of termination may be any date on or after the later to occur of (A) the date of termination specified in
the original notice delivered to Counterparty and (B) the date either of the events in clause (x) or (y) occurs.
		
	 (b) Failure to Deliver:
	  	Applicable
		
	 (c) Insolvency Filing:
	  	Applicable
		
	 (d) Hedging Disruption:
	  	Applicable; provided that Section 12.9(a)(v)(A) of the Equity Definitions is amended by inserting the words “in its reasonable discretion” after the word
“necessary” in the third line thereof.
		
	 (e) Increased Cost of Hedging:
	  	Applicable; provided that Section 12.9(a)(vi)(A) of the Equity Definitions is amended by inserting the words “in its reasonable discretion” after the word
“necessary” in the fourth line thereof.
		
	 Hedging Party:
	  	Dealer
		
	 Determining Party:
	  	Dealer; provided that the Determining Party shall deliver, within five Exchange Business Days of a written request by the other party, a written explanation of any calculation made
by it, and including, where applicable, the methodology and data applied, it being understood that the Determining Party shall not be obligated to disclose any proprietary models used by it for such calculation.
		
	 Non-Reliance:
	  	Applicable
		
	 Agreements and Acknowledgments Regarding Hedging Activities:
	  	Applicable
		
	 Additional Acknowledgments:
	  	Applicable

  

 14 

					
	 3. Calculation Agent:
	  	Dealer. All calculations and determinations by the Calculation Agent shall be made in good faith and in a commercially reasonable manner. The Calculation Agent shall deliver, within
five Exchange Business Days of a written request by Counterparty, a written explanation of any calculation made by it, and including, where applicable, the methodology and data applied, it being understood that the Calculation Agent shall not be
obligated to disclose any proprietary models used by it for such calculation.

 4. Account Details: 
 Dealer Payment Instructions: 
 JP Morgan Chase Bank New York 
 For A/C Goldman, Sachs & Co. 
 A/C #930-1-011483 
 ABA: 021-000021 
 Counterparty Payment Instructions: 
 To be provided by Counterparty. 
 5. Offices: 
 The Office of Dealer for the Transaction is: 
 One New York Plaza, New York, New York 10004 
 The Office of Counterparty for the Transaction is: 
 Teradyne, Inc. 
 600 Riverpark Drive 
 North Reading, MA 01864 
 6. Notices: For purposes of this Confirmation: 
 (a) Address for notices or communications to Counterparty: 
  

			
	To:	  	Teradyne, Inc.
		  	600 Riverpark Drive
		  	North Reading, MA 01864
		
	Attn:	  	Greg Beecher
		  	Chief Financial Officer
	Telephone:	  	(978)-370-2952
	Facsimile:	  	(978)-370-2910
		
	With a copy to:	  	
		
	Attn:	  	Paul Igoe
		  	Associate General Counsel
	Telephone:	  	(978)-370-3514
	Facsimile:	  	(978)-370-2290

  

 15 

 (b) Address for notices or communications to Dealer: 
  

			
	To:	  	Goldman, Sachs & Co.
		  	One New York Plaza
		  	New York, NY 10004
	Attn:	  	Serge Marquié,
		  	Equity Capital Markets
	Telephone:	  	212-902-9779
	Facsimile:	  	917-977-4253
	Email:	  	marqse@am.ibd.gs.com
		
	With a copy to:	  	
		
	Attn:	  	Brian Smith,
		  	Equity Capital Markets
	Telephone:	  	212-902-0058
	Facsimile:	  	212-412-9881
	Email:	  	smibri@am.ibd.gs.com
	
	 And email notification to the following address:
 Eq-derivs-notifications@am.ibd.gs.com

 7. Representations, Warranties and Agreements: 
 (a) In addition to the representations and warranties in the Agreement and those contained elsewhere herein, Counterparty represents and warrants to and
for the benefit of, and agrees with, Dealer as follows: 
 (i) On the Trade Date and as of the date of any amendment or
adjustment to the Transaction pursuant to “Change in Law” above or Section 8(b) below and as of the date of any election by Counterparty of the Share Termination Alternative under (and as defined in) Section 8(c) below and as of
any date it affirmatively elects that Convertible Gross Share Settlement, Convertible Net Share Settlement or Convertible Cash Settlement is applicable in respect of any Conversion Date, (A) none of Counterparty and its officers and directors
is aware of any material nonpublic information regarding Counterparty or the Shares and (B) all reports and other documents filed by Counterparty with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as
amended (the “Exchange Act”) when considered as a whole (with the more recent such reports and documents deemed to amend inconsistent statements contained in any earlier such reports and documents), do not contain any untrue
statement of a material fact or any omission of a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances in which they were made, not misleading. 
 (ii) (A) On the Trade Date, the Shares or securities that are convertible into, or exchangeable or exercisable for Shares, are not, and
shall not be, subject to a “restricted period,” as such term is defined in Regulation M under the Exchange Act (“Regulation M”) and (B) Counterparty shall not engage in any “distribution,” as such term is
defined in Regulation M, other than a distribution meeting the requirements of the exceptions set forth in sections 101(b)(10) and 102(b)(7) of Regulation M, until the second Exchange Business Day immediately following the Trade Date. 
 (iii) Without limiting the generality of Section 13.1 of the Equity Definitions, Counterparty acknowledges that neither Dealer nor
any of its affiliates is making any representations or warranties or taking a position or expressing any view with respect to the treatment of the Transaction under any accounting standards, including FASB Statements 128, 133 (as amended), 149 or
150, EITF Issue No. 00-19, 01-6, 03-6 or 07-5 (or any successor issue statements) or under the FASB’s Liabilities & Equity Project. 
 (iv) Without limiting the generality of Section 3(a)(iii) of the Agreement, the Transaction will not violate Rule 13e-1 or Rule 13e-4 under the Exchange Act. 
  

 16 

 (v) Prior to the Trade Date, Counterparty shall deliver to Dealer a resolution of
Counterparty’s board of directors authorizing the Transaction and such other certificate or certificates as Dealer shall reasonably request. 
 (vi) Counterparty is not entering into this Confirmation to create actual or apparent trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to raise or depress or otherwise
manipulate the price of the Shares (or any security convertible into or exchangeable for Shares) or to otherwise in violation of the Exchange Act. 
 (vii) Counterparty is not, and after giving effect to the transactions contemplated hereby will not be, required to register as, an “investment company” as such term is defined in the Investment Company Act
of 1940, as amended. 
 (viii) On each of the Trade Date, the Premium Payment Date and Additional Premium Payment Date, if
any, Counterparty is not “insolvent” (as such term is defined under Section 101(32) of the U.S. Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”)) and Counterparty would be able to purchase
the Shares hereunder in compliance with the laws of the jurisdiction of Counterparty’s incorporation. 
 (ix) The
representations and warranties of Counterparty set forth in Section 3 of the Agreement and Section 1 of the Underwriting Agreement are true and correct as of the Trade Date and the Effective Date and are hereby deemed to be repeated to
Dealer as if set forth herein. 
 (x) On the Trade Date and Premium Payment Date, neither Counterparty nor any
“affiliate” or “affiliated purchaser” (each as defined in Rule 10b-18 of the Exchange Act (“Rule 10b-18”)) shall directly or indirectly (including, without limitation, by means of any cash-settled or other
derivative instrument other than the Transaction) purchase, offer to purchase, place any bid or limit order that would effect a purchase of, or commence any tender offer relating to, any Shares (or an equivalent interest, including a unit of
beneficial interest in a trust or limited partnership or a depository share) or any security convertible into or exchangeable or exercisable for Shares; provided, that this Section 7(a)(x) shall not apply to the following:
(A) privately negotiated purchases of Shares (or any security convertible into or exchangeable for Shares); (B) purchases of Shares pursuant to exercises of stock options granted to former or current employees, officers, directors, or
other affiliates of Counterparty, including the withholding and/or purchase of Shares from holders of such options to satisfy payment of the option exercise price and/or satisfy tax withholding requirements in connection with the exercise of such
options; (C) purchases of Shares from holders of performance shares or units or restricted shares or units to satisfy tax withholding requirements in connection with vesting; (D) the conversion or exchange by holders of any convertible or
exchangeable securities of the Counterparty previously issued; or (E) purchases of Shares effected by or for a plan by an agent independent of the issuer that satisfy the requirements of Rule 10b-18(a)(13)(ii). 
 (xi) Counterparty agrees that it (A) will not make, or permit to be made, any public announcement (as defined in Rule 165(f) under
the Securities Act) of any Merger Transaction or potential Merger Transaction unless such public announcement is made prior to the opening or after the close of the regular trading session on the Exchange; (B) shall promptly (but in any event
prior to the next opening of the regular trading session on the Exchange) notify Dealer following any such announcement that such announcement has been made; and (C) shall promptly (but in any event prior to the next opening of the regular
trading session on the Exchange) provide Dealer with written notice specifying (i) Counterparty’s average daily Rule 10b-18 Purchases (as defined in Rule 10b-18) during the three full calendar months immediately preceding the announcement
date that were not effected through Dealer or its affiliates and (ii) the number of Shares purchased pursuant to the proviso in Rule 10b-18(b)(4) under the Exchange Act for the three full calendar months preceding the announcement date. Such
written notice shall be deemed to be a certification by Counterparty to Dealer that such information is true and correct. In addition, Counterparty shall promptly notify Dealer of the earlier to occur of the completion of such transaction and the
completion of the vote by target shareholders. “Merger Transaction” means any merger, acquisition or similar transaction involving a recapitalization as contemplated by Rule 10b-18(a)(13)(iv) under the Exchange Act. 
  

 17 

 (xiii) (A) Counterparty does not have, and shall not attempt to exercise, any influence
over how, when or whether to effect purchases of Shares by Dealer (or its agents or affiliates) to establish its initial Hedge Positions in connection with the Transaction and (B) Counterparty is entering into the Agreement and the Transaction
in good faith and not as part of a plan or scheme to evade compliance with federal securities laws including, without limitation, Rule 10b-5 promulgated under the Exchange Act. Counterparty also acknowledges and agrees that any amendment,
modification, waiver or termination of this Confirmation must be effected in accordance with the requirements for the amendment or termination of a “plan” as defined in Rule 10b5-1(c) under the Exchange Act. Without limiting the generality
of the foregoing, any such amendment, modification, waiver or termination shall be made in good faith and not as part of a plan or scheme to evade the prohibitions of Rule 10b-5 under the Exchange Act, and no amendment, modification or waiver shall
be made at any time at which Counterparty is aware of any material nonpublic information regarding Counterparty or the Shares. 
 (b) Each of
Dealer and Counterparty agrees and represents that it is an “eligible contract participant” as defined in Section 1a(12) of the U.S. Commodity Exchange Act, as amended. 
 (c) Each of Dealer and Counterparty acknowledges that the offer and sale of the Transaction to it is intended to be exempt from registration under the
Securities Act of 1933, as amended (the “Securities Act”), by virtue of Section 4(2) thereof. Accordingly, Counterparty represents and warrants to Dealer that (i) it has the financial ability to bear the economic risk of
its investment in the Transaction and is able to bear any loss, including a total loss, of its investment and its investments in and liabilities in respect of the Transaction, which it understands are not readily marketable and are not
disproportionate to its net worth, (ii) it is an “accredited investor” as that term is defined in Regulation D as promulgated under the Securities Act, (iii) it is entering into the Transaction for its own account and without a
view to the distribution or resale thereof, (iv) the assignment, transfer or other disposition of the Transaction has not been and will not be registered under the Securities Act and is restricted under this Confirmation, the Securities Act and
state securities laws, and (v) its financial condition is such that it has no need for liquidity with respect to its investment in the Transaction and no need to dispose of any portion thereof to satisfy any existing or contemplated undertaking
or indebtedness and is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks of the Transaction. 
 (d) Each of Dealer and Counterparty agrees and acknowledges that Dealer is a “financial institution,” “swap participant” and/or
“financial participant” within the meaning of Sections 101(22), 101(53C) and 101(22A) of Title 11 of the Bankruptcy Code. The parties hereto further agree and acknowledge (A) that this Confirmation is (i) a “securities
contract,” as such term is defined in Section 741(7) of the Bankruptcy Code, with respect to which each payment and delivery hereunder is a “settlement payment,” as such term is defined in Section 741(8) of the Bankruptcy
Code, and (ii) a “swap agreement,” as such term is defined in Section 101(53B) of the Bankruptcy Code, with respect to which each payment and delivery hereunder is a “transfer,” as such term is defined in
Section 101(54) of the Bankruptcy Code, and (B) that Dealer is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code. 
 (e) As a condition to the effectiveness of the Transaction, Counterparty shall deliver to Dealer (i) an incumbency certificate, dated as of the
Trade Date, of Counterparty in customary form and (ii) an opinion of counsel, dated as of the Trade Date and reasonably acceptable to Dealer in form and substance, with respect to the matters set forth in Section 3(a) of the Agreement and
such other matters as Dealer may reasonably request. 
 (f) Counterparty acknowledges that it has received the OTC Options Risk
Disclosure Statement and a copy of the most recent disclosure pamphlet prepared by The Options Clearing Corporation entitled “Characteristics and Risks of Standardized Options”. 
 Each party acknowledges and agrees to be bound by Financial Industry Regulatory Authority (“FINRA”) rules applicable to transactions in
options, and further acknowledges and agrees not to violate the position limits established pursuant to paragraph (b)(3) of FINRA Rule 2360 and the exercise limits established pursuant to paragraph (b)(4) of FINRA Rule 2360. 
  

 18 

 8. Other Provisions: 
 (a) Right to Extend. Dealer may postpone any Exercise Date or Settlement Date or any other date of valuation or delivery by Dealer, but in no event later than the twentieth (20th) Exchange Business Day
following such Exercise Date, Settlement Date or date of valuation or delivery, with respect to some or all of the relevant Options (in which event the Calculation Agent shall make appropriate adjustments to the Delivery Obligation), if Dealer
determines, in its reasonable discretion, that such extension is reasonably necessary or appropriate to preserve Dealer’s hedging or hedge unwind activity hereunder in light of existing liquidity conditions in the cash market, the stock borrow
market or other relevant market or to enable Dealer to effect purchases of Shares or Share Termination Delivery Units in connection with its hedging, hedge unwind or settlement activity hereunder, in each case, in a manner that would, if Dealer were
Counterparty or an affiliated purchaser of Counterparty, be in compliance with applicable legal, regulatory or self-regulatory requirements, or with related policies and procedures applicable to Dealer. 
 (b) Additional Termination Events. The occurrence of (i) an event of default with respect to Counterparty under the terms of the Convertible
Securities as set forth in Section 7.01 of the Indenture which results in principal and interest related to Convertible Securities being declared immediately due and payable pursuant to the terms of the Indenture, or (ii) an Amendment
Event shall be an Additional Termination Event with respect to which the Transaction is the sole Affected Transaction and Counterparty is the sole Affected Party, and Dealer shall be the party entitled to designate an Early Termination Date pursuant
to Section 6(b) of the Agreement and to determine the amount payable pursuant to Section 6(e) of the Agreement. Upon a written request by Counterparty following the public announcement of an event that would otherwise constitute an
Amendment Event, but prior to the occurrence of such event, Dealer shall use good faith efforts to propose an adjustment to the terms of the Transaction to account for the expected economic effect on the Transaction of such event. If Counterparty
accepts Dealer’s proposed adjustment prior to the occurrence of such event, Dealer shall so adjust the Transaction and such event shall not constitute an Amendment Event. However, if (x) Counterparty does not accept such proposed
adjustment or (y) Dealer determines, in its sole discretion, that no adjustment that it could make would produce a commercially reasonable result, then the occurrence of such event shall constitute an Amendment Event. 
 “Amendment Event” means that Counterparty amends, modifies, supplements or obtains a waiver in respect of any term of the Indenture or
the Convertible Securities governing the principal amount, coupon, maturity, repurchase obligation of Counterparty, redemption right of Counterparty, any term relating to conversion of the Convertible Securities (including changes to the conversion
price, conversion settlement dates or conversion conditions), or any term that would require consent of the holders of not less than 100% of the principal amount of the Convertible Securities to amend, in each case without the prior consent of
Dealer (such consent not to be unreasonably withheld or delayed). 
 (c) Alternative Calculations and Payment on Early Termination and on
Certain Extraordinary Events. If Dealer shall owe Counterparty any amount pursuant to Section 12.2 of the Equity Definitions or “Consequences of Merger Events” above, or Section 12.6, 12.7 or 12.9 of the Equity Definitions
(except in the event of a Merger Event, Insolvency or Nationalization, in each case in which the consideration or proceeds to be paid to holders of Shares consists solely of cash) or pursuant to Section 6(d)(ii) of the Agreement (except in the
event of an Event of Default in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty is the Affected Party, that resulted from an event or events within Counterparty’s control) (a “Payment
Obligation”), Counterparty shall have the right, in its sole discretion, to require Dealer to satisfy any such Payment Obligation by the Share Termination Alternative (as defined below) by giving irrevocable telephonic notice to Dealer,
confirmed in writing within one Scheduled Trading Day, between the hours of 9:00 A.M. and 4:00 P.M., New York City time, on the Merger Date, Announcement Date, Early Termination Date or other date the Transaction is cancelled or terminated, as
applicable (“Notice of Share Termination”). If no Notice of Share Termination is received by Dealer within the time specified in the preceding sentence, Dealer shall have the right, in its sole discretion, to satisfy any Payment
Obligation by the Share Termination Alternative by 

  

 19 

 
promptly giving Counterparty a Notice of Share Termination. Upon delivery of a Notice of Share Termination by either party, the following provisions shall
apply on the Scheduled Trading Day immediately following the Merger Date, Announcement Date, Early Termination Date or other date the Transaction is cancelled or terminated, as applicable: 
  

			
	 Share Termination Alternative:
	 	Applicable and means that Dealer shall deliver to Counterparty the Share Termination Delivery Property on the date on which the Payment Obligation would otherwise be due pursuant to
“Consequences of Merger Events” above or Section 12.2, 12.6, 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) of the Agreement, as applicable (the “Share Termination Payment Date”), in satisfaction of the Payment
Obligation.
		
	 Share Termination Delivery Property:
	 	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall
adjust the Share Termination Delivery Property by replacing any fractional portion of the aggregate amount of a security therein with an amount of cash in the Settlement Currency equal to the value of such fractional security based on the values
used to calculate the Share Termination Unit Price.
		
	 Share Termination Unit Price:
	 	The value of property contained in one Share Termination Delivery Unit, as determined by the Calculation Agent in its discretion by commercially reasonable means and notified by the
Calculation Agent to Dealer at the time of notification of the Payment Obligation.
		
	 Share Termination Delivery Unit:
	 	In the case of a Termination Event, Event of Default, Delisting or Additional Disruption Event, one Share or, in the case of an Insolvency, Nationalization or Merger Event, one Share or a
unit consisting of the number or amount of each type of property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any securities) in such Insolvency,
Nationalization or Merger Event. If such Insolvency, Nationalization or Merger Event involves a choice of consideration to be received by holders, such holder shall be deemed to have elected to receive the maximum possible amount of
cash.
		
	 Failure to Deliver:
	 	Applicable
		
	 Other Applicable Provisions:
	 	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9, 9.11 and 9.12 of the Equity Definitions will be applicable as if “Physical Settlement” applied
to the Transaction, except that all references to “Shares” shall be read as references to “Share Termination Delivery Units”; provided that the Representation and Agreement contained in Section 9.11 of the Equity
Definitions shall be modified by excluding any representations therein relating to restrictions, obligations, limitations or requirements under applicable securities laws as a result of the fact that Counterparty is the issuer of any Share
Termination Delivery Units (or any part thereof).

 (d) Disposition of Hedge Shares. Counterparty hereby agrees that if, in the good faith
reasonable judgment of Dealer, based on the advice of counsel, the Shares (the “Hedge Shares”) acquired by Dealer for the purpose of hedging its obligations pursuant to the Transaction cannot be sold in the U.S. public market by
Dealer without registration under the Securities Act, Counterparty shall, at its election: (i) in order to allow Dealer to sell the Hedge Shares in a registered offering, make available to Dealer an effective registration statement under the
Securities Act to cover the resale of such Hedge Shares and (A)

  

 20 

 
enter into an agreement, in form and substance satisfactory to Dealer, substantially in the form of an underwriting agreement for a registered offering,
(B) provide accountant’s “comfort” letters in customary form for registered offerings of equity securities, (C) provide disclosure opinions of nationally recognized outside counsel to Counterparty reasonably acceptable to
Dealer, (D) provide other customary opinions, certificates and closing documents customary in form for registered offerings of equity securities and (E) afford Dealer a reasonable opportunity to conduct a “due diligence”
investigation with respect to Counterparty customary in scope for underwritten offerings of equity securities; provided, however, that if Counterparty elects clause (i) above but the items referred to therein are not completed in a
timely manner or if Dealer, in its sole commercially reasonable discretion, is not satisfied with access to due diligence materials, the results of its due diligence investigation, or the procedures and documentation for the registered offering
referred to above, then clause (ii) or clause (iii) of this Section 8(d) shall apply at the election of Counterparty; (ii) in order to allow Dealer to sell the Hedge Shares in a private placement, enter into a private placement
agreement substantially similar to private placement purchase agreements customary for private placements of equity securities, in form and substance satisfactory to Dealer, including customary representations, covenants, blue sky and other
governmental filings and/or registrations, indemnities to Dealer, due diligence rights (for Dealer or any designated buyer of the Hedge Shares from Dealer), opinions and certificates and such other documentation as is customary for private
placements agreements, all reasonably acceptable to Dealer (in which case, the Calculation Agent shall make any adjustments to the terms of the Transaction that are necessary, in its reasonable judgment, to compensate Dealer for any discount from
the public market price of the Shares incurred on the sale of Hedge Shares in a private placement); or (iii) purchase the Hedge Shares from Dealer at the Daily VWAP (as defined in the Indenture) on such Exchange Business Days, and in the
amounts, requested by Dealer. This Section 8(d) shall survive the termination, expiration or early unwind of the Transaction. For the avoidance of doubt, Counterparty is not obligated to purchase Shares under any circumstances unless
Counterparty has elected to purchase the Hedge Shares in accordance with clause (iii) of this Section 8(d). 
 (e) Repurchase
and Conversion Rate Adjustment Notices. Counterparty shall, at least two Exchange Business Days prior to any day on which Counterparty effects any repurchase of Shares or consummates or otherwise engages in any transaction or event (a
“Conversion Rate Adjustment Event”) that could reasonably be expected to lead to an increase in the Conversion Rate, give Dealer a written notice of such repurchase or Conversion Rate Adjustment Event (a “Repurchase
Notice”) on such day if, following such repurchase or Conversion Rate Adjustment Event, the Notice Percentage would reasonably be expected to be greater by 0.5% than the Notice Percentage included in the immediately preceding Repurchase
Notice (or, in the case of the first such Repurchase Notice, greater than the Notice Percentage as of the date hereof). The “Notice Percentage” as of any day is the fraction, expressed as a percentage, the numerator of which is the
Number of Shares and the denominator of which is the number of Shares outstanding on such day. In the event that Counterparty fails to provide Dealer with a Repurchase Notice on the day and in the manner specified in this Section 8(e) then
Counterparty agrees to indemnify and hold harmless Dealer, its affiliates and their respective directors, officers, employees, agents and controlling persons (Dealer and each such person being an “Indemnified Party”) from and
against any and all losses (including losses relating to the Dealer’s hedging activities as a consequence of becoming, or of the risk of becoming, a Section 16 “insider”, including without limitation, any forbearance from hedging
activities or cessation of hedging activities and any losses in connection therewith with respect to this Transaction), claims, damages and liabilities (or actions in respect thereof), joint or several, to which such Indemnified Party may become
subject under applicable securities laws, including without limitation, Section 16 of the Exchange Act or under any state or federal law, regulation or regulatory order, relating to or arising out of such failure. If for any reason the
foregoing indemnification is unavailable to any Indemnified Party or insufficient to hold harmless any Indemnified Party, then Counterparty shall contribute, to the maximum extent permitted by law, to the amount paid or payable by the Indemnified
Party as a result of such loss, claim, damage or liability. In addition, Counterparty will reimburse any Indemnified Party for all expenses (including reasonable counsel fees and expenses) as they are incurred (after notice to Counterparty) in
connection with the investigation of, preparation for or defense or settlement of any pending or threatened claim or any action, suit or proceeding arising therefrom, whether or not such Indemnified Party is a party thereto and whether or not such
claim, action, suit or proceeding is initiated or brought by or on behalf of Counterparty. This indemnity shall survive the completion of the Transaction contemplated by this Confirmation and any assignment and delegation of the Transaction made
pursuant to this Confirmation or the Agreement shall inure to the benefit of any permitted assignee of Dealer. 
  

 21 

 (f) Transfer and Assignment. Either party may transfer or assign any of its rights or obligations
under the Transaction with the prior written consent of the non-transferring party, such consent not to be unreasonably withheld or delayed; provided that Dealer may transfer or assign without any consent of Counterparty its rights and
obligations hereunder, in whole or in part, to (i) any of its affiliates, (ii) any entities sponsored or organized by, on behalf of or for the benefit of Dealer or (iii) any person; provided that (A) in the case of clauses
(i) and (ii), such affiliate or entity is of credit quality equivalent to Dealer at the time of such transfer or assignment or the obligations of such affiliate or entity under this Transaction are guaranteed by Dealer or Dealer’s
guarantor, (B) in the case of clause (iii), such person has a long-term senior unsecured debt rating equal to or greater than A- by Standard & Poor’s Ratings Services or its successor, A3 by Moody’s Investors Service or its
successor or the equivalent rating by another nationally recognized statistical rating organization at the time of such transfer or assignment, (C) in the case of clauses (i), (ii) and (iii), such transfer or assignment shall not have a
material adverse tax or regulatory consequence to Counterparty, (D) an Event of Default, Potential Event of Default or Termination Event will not occur as a result of such transfer and assignment, and (E) Dealer shall be responsible for
all reasonable costs and expenses, including reasonable counsel fees, incurred by Counterparty in connection with such transfer or assignment. If at any time at which (1) the Equity Percentage exceeds 9.0% or (2) Dealer, Dealer Group (as
defined below) or any person whose ownership position would be aggregated with that of Dealer or Dealer Group (Dealer, Dealer Group or any such person, a “Dealer Person”) under Chapter 110F of the Massachusetts General Laws or other
federal, state or local regulations or regulatory orders applicable to ownership of Shares (“Applicable Laws”), owns, beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition
of ownership in excess of a number of Shares equal to (x) the number of Shares that would give rise to reporting or registration obligations or other requirements (including obtaining prior approval by a state or federal regulator) of a Dealer
Person under Applicable Laws and with respect to which such requirements have not been met or the relevant approval has not been received minus (y) 1% of the number of Shares outstanding on the date of determination (either such
condition described in clause (1) or (2), an “Excess Ownership Position”), Dealer, in its commercially reasonable discretion, is unable to effect a transfer or assignment to a third party after its commercially reasonable
efforts on pricing terms and within a time period reasonably acceptable to Dealer such that an Excess Ownership Position no longer exists, Dealer may designate any Scheduled Trading Day as an Early Termination Date with respect to a portion (the
“Terminated Portion”) of the Transaction, such that an Excess Ownership Position no longer exists following such partial termination. In the event that Dealer so designates an Early Termination Date with respect to a portion of the
Transaction, a payment or delivery shall be made pursuant to Section 6 of the Agreement and Section 8(c) of this Confirmation as if (i) an Early Termination Date had been designated in respect of a Transaction having terms identical
to the Terminated Portion of the Transaction, (ii) Counterparty were the sole Affected Party with respect to such partial termination, (iii) such portion of the Transaction were the only Terminated Transaction and (iv) Dealer were the
party entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement and to determine the amount payable pursuant to Section 6(e) of the Agreement; provided, that in calculating any amount due following
such designation, Dealer shall act in good faith and in a commercially reasonable manner and Dealer shall deliver, within five Exchange Business Days of a written request by Counterparty, a written explanation of any calculation made by it, and
including, where applicable, the methodology and data applied, it being understood that Dealer shall not be obligated to disclose any proprietary models used by it for such calculation. The “Equity Percentage” as of any day is the
fraction, expressed as a percentage, (A) the numerator of which is the number of Shares that Dealer and any of its affiliates subject to aggregation with Dealer for purposes of the “beneficial ownership” test under Section 13 of
the Exchange Act and all persons who may form a “group” (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) with Dealer (collectively, “Dealer Group”) “beneficially own” (within the meaning of
Section 13 of the Exchange Act) without duplication on such day and (B) the denominator of which is the number of Shares outstanding on such day. In the case of a transfer or assignment by Counterparty of its rights and obligations
hereunder and under the Agreement, in whole or in part (any such Options so transferred or assigned, the “Transfer Options”), to any party, withholding of such consent by Dealer shall not be considered unreasonable if such transfer
or assignment does not meet the reasonable conditions that Dealer may impose including, but not limited, to the following conditions: 
 (A) With respect to any Transfer Options, Counterparty shall not be released from its notice and indemnification obligations pursuant to Section 8(e) or any obligations under Section 2 (regarding
Extraordinary Events) or 8(d) of this Confirmation; 
  

 22 

 (B) Any Transfer Options shall only be transferred or assigned to a third party that is a
U.S. person (as defined in the Internal Revenue Code of 1986, as amended); 
 (C) Such transfer or assignment shall be
effected on terms, including any reasonable undertakings by such third party (including, but not limited to, undertakings with respect to compliance with applicable securities laws in a manner that, in the reasonable judgment of Dealer, will not
expose Dealer to material risks under applicable securities laws) and execution of any documentation and delivery of legal opinions with respect to securities laws and other matters by such third party and Counterparty as are requested and
reasonably satisfactory to Dealer; 
 (D) Dealer will not, as a result of such transfer and assignment, be required to pay the
transferee on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than an amount that Dealer would have been required to pay to Counterparty in the absence of such transfer and assignment; 
 (E) An Event of Default, Potential Event of Default or Termination Event will not occur as a result of such transfer and assignment;

 (F) Without limiting the generality of clause (B), Counterparty shall have caused the transferee to make such Payee Tax
Representations and to provide such tax documentation as may be reasonably requested by Dealer to permit Dealer to determine that results described in clauses (D) and (E) will not occur upon or after such transfer and assignment; and

 (G) Counterparty shall be responsible for all reasonable costs and expenses, including reasonable counsel fees, incurred by
Dealer in connection with such transfer or assignment. 
 (g) Staggered Settlement. If, in the reasonable judgment of Dealer, it is
advisable to do so under any applicable law, regulation or internal policy, Dealer may, by notice to Counterparty prior to any Settlement Date (a “Nominal Settlement Date”), elect to deliver the Shares on one or more dates (each, a
“Staggered Settlement Date”) or at two or more times on the Nominal Settlement Date as follows: 
 (i) in such notice, Dealer will specify to Counterparty the related Staggered
Settlement Dates (each of which will be on or prior to the 20th Exchange Business Day after such Nominal Settlement Date, but not prior to the
earlier of the relevant Conversion Date and the first day of the relevant Observation Period) or delivery times and how it will allocate the Shares it is required to deliver under “Delivery Obligation” (above) among the Staggered
Settlement Dates or delivery times; and 
 (ii) the aggregate number of Shares that Dealer will deliver to Counterparty
hereunder on all such Staggered Settlement Dates and delivery times will equal the number of Shares that Dealer would otherwise be required to deliver on such Nominal Settlement Date. 
 (h) Disclosure. Effective from the date of commencement of discussions concerning the Transaction, Counterparty and each of its employees,
representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are provided
to Counterparty relating to such tax treatment and tax structure. 
 (i) No Netting and Set-off. The provisions of Section 2(c)
of the Agreement shall not apply to the Transaction. Each party waives any and all rights it may have to set-off delivery or payment obligations it owes to the other party under the Transaction against any delivery or payment obligations owed to it
by the other party, whether arising under the Agreement, under any other agreement between parties hereto, by operation of law or otherwise. 
  

 23 

 (j) Equity Rights. Dealer acknowledges and agrees that this Confirmation is not intended to convey
to it rights with respect to the Transaction that are senior to the claims of common stockholders in the event of Counterparty’s bankruptcy. For the avoidance of doubt, the parties agree that the preceding sentence shall not apply at any time
other than during Counterparty’s bankruptcy to any claim arising as a result of a breach by Counterparty of any of its obligations under this Confirmation or the Agreement. For the avoidance of doubt, the parties acknowledge that the
obligations of Counterparty under this Confirmation are not secured by any collateral that would otherwise secure the obligations of Counterparty herein under or pursuant to any other agreement. 
 (k) Early Unwind. Early Unwind. In the event the sale by Counterparty of the Convertible Securities is not consummated pursuant to the
Underwriting Agreement for any reason by the close of business in New York on April 8, 2009 (or such later date as agreed upon by the parties) April 8, 2009 or such later date being the “Early Unwind Date”), the
Transaction shall automatically terminate (the “Early Unwind”) on the Early Unwind Date and the Transaction and all of the respective rights and obligations of Dealer and Counterparty hereunder shall be cancelled and terminated and
Counterparty shall pay to Dealer, other than in cases involving a breach of the Underwriting Agreement by the Underwriter thereunder, an amount in cash equal to the aggregate amount of reasonable costs and expenses relating to the unwinding of
Dealer’s hedging activities in respect of the Transaction in a commercially reasonable manner (including market losses incurred in reselling in a commercially reasonable manner any Shares purchased by Dealer or its affiliates in connection with
such hedging activities, unless Counterparty agrees to purchase any such Shares at the cost at which Dealer purchased such Shares) but only to the extent that such market costs and expenses exceed any realized market gains in such Shares, or, at the
election of Counterparty, deliver to Dealer Shares with a value equal to such amount, as determined by the Calculation Agent, in which event the parties shall enter into customary and commercially reasonable documentation relating to the registered
or exempt resale of such Shares. Following such termination and cancellation and payment or delivery, each party shall be released and discharged by the other party from, and agrees not to make any claim against the other party with respect to, any
obligations or liabilities of either party arising out of, and to be performed in connection with, the Transaction either prior to or after the Early Unwind Date. Dealer and Counterparty represent and acknowledge to the other that upon an Early
Unwind and following the payment or delivery referred to above, all obligations with respect to the Transaction shall be deemed fully and finally discharged 
 (l) Payments by Counterparty upon Early Termination. The parties hereby agree that, notwithstanding anything to the contrary herein, in the Definitions or in the Agreement, following the payment of the Premium
and the Additional Premium, if any, in the event that an Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with respect to the Transaction or the Transaction is terminated or cancelled
pursuant to Article 12 of the Equity Definitions and, as a result, Counterparty would owe to Dealer an amount calculated under Section 6(e) of the Agreement or Article 12 of the Equity Definitions, such amount shall be deemed to be zero.

 (m) Governing Law. THE AGREEMENT, THIS CONFIRMATION AND ALL MATTERS ARISING IN CONNECTION WITH THE
AGREEMENT AND THIS CONFIRMATION SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CHOICE OF LAW DOCTRINE, OTHER THAN TITLE 14 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

 (n) Waiver of Trial by Jury. EACH OF COUNTERPARTY AND DEALER HEREBY IRREVOCABLY WAIVES (ON ITS OWN BEHALF AND, TO THE EXTENT
PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS STOCKHOLDERS) ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE TRANSACTION OR THE ACTIONS OF DEALER OR
ITS AFFILIATES IN THE NEGOTIATION, PERFORMANCE OR ENFORCEMENT HEREOF. 
 (o) Submission to Jurisdiction. THE PARTIES HERETO
IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE UNITED STATES COURT FOR THE SOUTHERN DISTRICT OF NEW YORK IN CONNECTION WITH ALL MATTERS RELATING HERETO AND WAIVE ANY OBJECTION TO THE LAYING OF VENUE
IN, AND ANY CLAIM OF INCONVENIENT FORUM WITH RESPECT TO, THESE COURTS. 
  

 24 

 (p) Amendment. This Confirmation and the Agreement may not be modified, amended or supplemented,
except in a written instrument signed by Counterparty and Dealer. 
 (q) Counterparts. This Confirmation may be executed in several
counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
  

 25 

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

			
	Yours faithfully,
	
	GOLDMAN, SACHS & CO.
		
	By:	 	 /s/ Daniel W. Kopper

		 	Authorized Signatory

  

					
	 Agreed and Accepted By:

	
	TERADYNE, INC.
		
	 By:
	 	 /s/ Gregory R. Beecher

	 Name:
	 	Gregory R. Beecher
	 Title:
	 	Vice President, Chief Financial Officer and TreasurerWarrant transaction confirmation

 Exhibit 10.2 
 GOLDMAN, SACHS & CO. | ONE NEW YORK PLAZA | NEW YORK, NEW YORK 10004 | TEL: (212) 902-1000 
 Opening
Transaction 
  

			
	To:	  	 Teradyne, Inc.
 600 Riverpark Drive
 North Reading, MA 01864

		
	A/C:	  	028400547
		
	From:	  	Goldman, Sachs & Co.
		
	Re:	  	Issuer Warrant Transaction
		
	Ref. No:	  	SDB 1630292324
		
	Date:	  	March 31, 2009

  
  
 Dear Sir(s): 
 The purpose of this communication (this
“Confirmation”) is to set forth the terms and conditions of the above-referenced transaction entered into on the Trade Date specified below (the “Transaction”) between Goldman, Sachs & Co.
(“Dealer”) and Teradyne, Inc. (“Issuer”). This communication constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified below. 
 1. This Confirmation is subject to, and incorporates, the definitions and provisions of the 2000 ISDA Definitions (including the Annex thereto) (the
“2000 Definitions”) and the definitions and provisions of the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”, and together with the 2000 Definitions, the “Definitions”), in each
case as published by the International Swaps and Derivatives Association, Inc. (“ISDA”). In the event of any inconsistency between the 2000 Definitions and the Equity Definitions, the Equity Definitions will govern. For purposes of
the Equity Definitions, each reference herein to a Warrant shall be deemed to be a reference to a Call Option or an Option, as context requires. 
 Each party is hereby advised, and each such party acknowledges, that the other party has engaged in, or refrained from engaging in, substantial financial transactions and has taken other material actions in reliance upon the parties’
entry into the Transaction to which this Confirmation relates on the terms and conditions set forth below. 
 This Confirmation evidences a
complete and binding agreement between Dealer and Issuer as to the terms of the Transaction to which this Confirmation relates. This Confirmation shall be subject to an agreement (the “Agreement”) in the form of the 2002 ISDA Master
Agreement as if Dealer and Issuer had executed an agreement in such form on the date hereof (but without any Schedule except for (i) the election of New York law (without reference to its choice of laws doctrine, other than Title 14 of the New
York General Obligations Law) as the governing law and US Dollars (“USD”) as the Termination Currency, and (ii) the election that the “Cross Default” provisions of Section 5(a)(vi) of the Agreement shall apply to
Issuer with a “Threshold Amount” of USD25 million); provided that Section 5(a)(vi)(1) is amended by deleting the phrase “, or becoming capable at such time of being declared,”. 
 All provisions contained in, or incorporated by reference to, the Agreement will govern this Confirmation except as expressly modified herein. In the
event of any inconsistency between this Confirmation and either the Definitions or the Agreement, this Confirmation shall govern. 

 The Transaction hereunder shall be the sole Transaction under the Agreement. If there exists any ISDA
Master Agreement between Dealer and Issuer or any confirmation or other agreement between Dealer and Issuer pursuant to which an ISDA Master Agreement is deemed to exist between Dealer and Issuer, then notwithstanding anything to the contrary in
such ISDA Master Agreement, such confirmation or agreement or any other agreement to which Dealer and Issuer are parties, the Transaction shall not be considered a Transaction under, or otherwise governed by, such existing or deemed ISDA Master
Agreement. 
 2. The Transaction is a Warrant Transaction, which shall be considered a Share Option Transaction for purposes of the Equity
Definitions. The terms of the particular Transaction to which this Confirmation relates are as follows: 
  

			
	General Terms:	  	
		
	 Trade Date:
	  	March 31, 2009
		
	 Effective Date:
	  	April 6, 2009 or such other date as agreed between the parties, subject to Section 8(k) below
		
	 Components:
	  	The Transaction will be divided into individual Components, each with the terms set forth in this Confirmation, and, in particular, with the Number of Warrants and Expiration Date set forth
in this Confirmation. The payments and deliveries to be made upon settlement of the Transaction will be determined separately for each Component as if each Component were a separate Transaction under the Agreement.
		
	 Warrant Style:
	  	European
		
	 Warrant Type:
	  	Call
		
	 Seller:
	  	Issuer
		
	 Buyer:
	  	Dealer
		
	 Shares:
	  	The Common Stock of Issuer, par value USD 0.125 (Ticker Symbol: “TER”).
		
	 Number of Warrants:
	  	For each Component, as provided in Annex A to this Confirmation.
		
	 Warrant Entitlement:
	  	One Share per Warrant.
		
	 Strike Price:
	  	USD7.665
		
	 Premium:
	  	USD39,565,000 (Premium per Warrant USD1.2378193).
		
	 Premium Payment Date:
	  	The Effective Date.
		
	 Market Disruption Event:
	  	The definition of “Market Disruption Event” in Section 6.3(a) of the Equity Definitions is hereby amended by deleting the words “at any time during the one-hour period that
ends at the relevant Valuation Time, Latest Exercise Time, Knock-in Valuation Time or Knock-out Valuation Time, as the case may be,” in clause (ii) thereof .
		
		  	Section 6.3(d) of the Equity Definitions is hereby amended by deleting the remainder of the provision following the term “Scheduled Closing Time” in the fourth line
thereof.

  

 2 

			
	 Exchange:
	  	New York Stock Exchange
		
	 Related Exchange:
	  	All Exchanges
		
	Procedures for Exercise:	  	
		
	 In respect of any Component:
	  	
		
	 Expiration Time:
	  	Valuation Time
		
	 Expiration Date:
	  	As provided in Annex A to this Confirmation (or, if such date is not a Scheduled Trading Day, the next following Scheduled Trading Day that is not already an Expiration Date for
another Component); provided that if that date is a Disrupted Day, the Expiration Date for such Component shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day and is not or is not deemed to be an Expiration Date in
respect of any other Component of the Transaction hereunder; and provided further that if the Expiration Date has not occurred pursuant to the preceding proviso as of the Final Disruption Date, the Calculation Agent shall have the right to
elect, in its sole discretion, that the Final Disruption Date shall be the Expiration Date (irrespective of whether such date is an Expiration Date in respect of any other Component for the Transaction) and the Calculation Agent shall determine its
good faith estimate of the fair market value for the Shares as of the Valuation Time on that date, as the Calculation Agent shall determine using commercially reasonable means. Notwithstanding the foregoing and anything to the contrary in the Equity
Definitions, if a Market Disruption Event occurs on any Expiration Date, the Calculation Agent may determine that such Expiration Date is a Disrupted Day only in part, in which case the Calculation Agent shall make adjustments to the Number of
Warrants for the relevant Component for which such day shall be the Expiration Date, shall designate the Scheduled Trading Day determined in the manner described in the immediately preceding sentence as the Expiration Date for the remaining Warrants
for such Component and may determine the VWAP Price based on transactions in the Shares effected before the relevant Market Disruption Event occurred and/or after the relevant Market Disruption Event ended. Section 6.6 of the Equity Definitions
shall not apply to any Valuation Date occurring on an Expiration Date. “Final Disruption Date” means September 29, 2014.
		
	 Automatic Exercise:
	  	Applicable; and means that the Number of Warrants for the corresponding Expiration Date will be deemed to be automatically exercised at the Expiration Time on such Expiration Date unless
Dealer notifies Seller (by telephone or in writing) prior to the Expiration

  

 3 

					
		  	Time on such Expiration Date that it does not wish Automatic Exercise to occur, in which case Automatic Exercise will not apply to such Expiration Date.
			
	 Issuer’s Telephone Number and Telex and/or Facsimile Number and Contact Details for purpose of Giving Notice:
	  	To:	 	Teradyne, Inc.
		  		 	600 Riverpark Drive
		  		 	North Reading, MA 01864
			
		  	Attn:	 	Greg Beecher
		  		 	Chief Financial Officer
		  	Telephone:	 	(978)-370-2952
		  	Facsimile:	 	(978)-370-2910
		
	With a copy to:    	 	
			
		  	Attn:	 	Paul Igoe
		  		 	Associate General Counsel
		  	Telephone:	 	(978)-370-3514
		  	Facsimile:	 	(978)-370-2290
			
	Settlement Terms:	  		 	
			
	 In respect of any Component:
	  		 	
			
	 Settlement Currency:
	  	USD	 	
		
	 Net Share Settlement:
	  	 On each Settlement Date, Issuer shall deliver to Dealer a number of Shares equal to the Number of Shares to be Delivered for such
Settlement Date to the account specified by Dealer and cash in lieu of any fractional Share valued at the VWAP Price on the Valuation Date corresponding to such Settlement Date. If, in the reasonable opinion of Issuer or Dealer, based on advice of
counsel, for any reason, the Shares deliverable upon Net Share Settlement would not be immediately freely transferable by Dealer under Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”), then Dealer may
elect to either (x) accept delivery of such Shares notwithstanding any restriction on transfer or (y) have the provisions set forth in Section 8(b) below apply.
  
 The Number of Shares to be Delivered shall be delivered by Issuer to Dealer no later than 12:00 noon (local time in New York City) on the relevant Settlement
Date.

		
	 Number of Shares to be Delivered:
	  	In respect of any Exercise Date, subject to the last sentence of Section 9.5 of the Equity Definitions, the product of (i) the number of Warrants exercised or deemed exercised on
such Exercise Date, (ii) the Warrant Entitlement and (iii) (A) the excess of the VWAP Price on the Valuation Date occurring in

  

 4 

			
		  	respect of such Exercise Date over the Strike Price (or, if there is no such excess, zero) divided by (B) such VWAP Price. Notwithstanding the foregoing, in no event shall Issuer be
required to deliver Shares in connection with the Transaction in excess of 34,526,500 in the aggregate, which amount represents less than 19.99% of the outstanding Shares as of the Trade Date (without giving effect to any Shares issuable pursuant to
the Warrant); provided, however, that the Calculation Agent shall adjust such amount in proportion to any adjustment to the Number of Warrants and/or the Warrant Entitlements upon any event having a diluting or concentrative effect on the Shares.

		
	 VWAP Price:
	  	For any Exchange Business Day, as determined by the Calculation Agent based on the New York Volume Weighted Average Price per Share for the regular trading session (including any extensions
thereof) of the Exchange on such Exchange Business Day (without regard to pre-open or after hours trading outside of such regular trading session), as published by Bloomberg at 4:15 P.M., New York City time (or 15 minutes following the end of any
extension of the regular trading session), on such Exchange Business Day, on Bloomberg page “TER.N <Equity> AQR” (or any successor thereto) (or if such published volume weighted average price is unavailable or is manifestly
incorrect, the market value of one Share on such Exchange Business Day, as determined by the Calculation Agent using a volume weighted method).
		
	 Other Applicable Provisions:
	  	The provisions of Sections 9.1(c), 9.4, 9.8, 9.9, 9.10, 9.11 and 9.12 of the Equity Definitions will be applicable as if “Physical Settlement” applied to the Transaction;
provided that the Representation and Agreement contained in Section 9.11 of the Equity Definitions shall be modified by excluding any representations therein relating to restrictions, obligations, limitations or requirements under applicable
securities laws that exist as a result of the fact that Issuer is the issuer of the Shares.
		
	Adjustments:	  	
		
	 In respect of any Component:
	  	
		
	 Method of Adjustment:
	  	Calculation Agent Adjustment; provided that in respect of an Extraordinary Dividend, “Calculation Agent Adjustment” shall be as described in the provision below. For the
avoidance of doubt, Calculation Agent Adjustment (including, without limitation, in respect of Extraordinary Dividends) shall continue to apply until the obligations of the parties (including any obligations of Issuer pursuant to Section 8(e) below)
under the Transaction have been satisfied in full.

  

 5 

			
	 Extraordinary Dividend:
	  	Any cash dividend or distribution on the Shares with an ex-dividend date occurring on or after the Trade Date and on or prior to the Expiration Date (or, if any Deficit Shares are owed
pursuant to Section 8(e) below, such later date on which Issuer’s obligations under this Transaction have been satisfied in full).
		
	 Extraordinary Dividend Adjustment:
	  	If at any time during the period from and including the Trade Date, to and including the Expiration Date for the Component with the latest Expiration Date (or, if any Deficit Shares are owed
pursuant to Section 8(e) below, such later date on which Issuer’s obligations under this Transaction have been satisfied in full), an ex-dividend date for an Extraordinary Dividend occurs, then the Calculation Agent will make adjustments to any
one or more of the Strike Price, the Number of Warrants, the Warrant Entitlement and/or any other variable relevant to the exercise, settlement, payment or other terms of the Transaction as it determines appropriate to account for the economic
effect on the Transaction of such Extraordinary Dividend.
		
	Extraordinary Events:	  	
		
	 New Shares
	  	In the definition of New Shares in Section 12.1(i) of the Equity Definitions, the text in clause (i) thereof shall be deleted in its entirety and replaced with “publicly quoted, traded
or listed on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective successors)”.
		
	 Consequences of Merger Events:
	  	
		
	 (a) Share-for-Share:
	  	Modified Calculation Agent Adjustment
		
	 (b) Share-for-Other:
	  	Cancellation and Payment (Calculation Agent Determination)
		
	 (c) Share-for-Combined:
	  	Cancellation and Payment (Calculation Agent Determination); provided that the Calculation Agent may elect Component Adjustment for all or part of the Transaction.
		
	 Tender Offer:
	  	Applicable; provided that Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “20%” in the third line thereof.
		
	 Consequences of Tender Offers:
	  	
		
	 (a) Share-for-Share:
	  	Modified Calculation Agent Adjustment
		
	 (b) Share-for-Other:
	  	Modified Calculation Agent Adjustment
		
	 (c) Share-for-Combined:
	  	Modified Calculation Agent Adjustment
		
	 Modified Calculation
	  	

  

 6 

			
	 Agent Adjustment:
	  	If, in respect of any Merger Event to which Modified Calculation Agent Adjustment applies, the adjustments to be made in accordance with Section 12.2(e)(i) of the Equity Definitions would
result in Issuer being different from the issuer of the Shares, then with respect to such Merger Event, as a condition precedent to the adjustments contemplated in Section 12.2(e)(i) of the Equity Definitions, Issuer and the issuer of the Shares
shall, prior to the Merger Date, have entered into such documentation containing representations, warranties and agreements relating to securities law and other issues as requested by Dealer that Dealer has determined, in its reasonable discretion,
to be reasonably necessary or appropriate to allow Dealer to continue as a party to the Transaction, as adjusted under Section 12.2(e)(i) of the Equity Definitions, and to preserve its hedging or hedge unwind activities in connection with the
Transaction in a manner compliant with applicable legal, regulatory or self-regulatory requirements, or with related policies and procedures applicable to Dealer, and if such conditions are not met or if the Calculation Agent determines that no
adjustment that it could make under Section 12.2(e)(i) of the Equity Definitions will produce a commercially reasonable result, then the consequences set forth in Section 12.2(e)(ii) of the Equity Definitions shall apply.
		
	 Nationalization, Insolvency or Delisting:
	  	Cancellation and Payment (Calculation Agent Determination); provided that in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a
Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, The NASDAQ Global Select Market or The NASDAQ Global Market (or their respective
successors); if the Shares are immediately re-listed, re-traded or re-quoted on any such exchange or quotation system, such exchange or quotation system shall thereafter be deemed to be the Exchange.
		
	 Additional Termination Event(s):
	  	Notwithstanding anything to the contrary in the Equity Definitions, if, as a result of an Extraordinary Event, any Transaction would be cancelled or terminated (whether in whole or in part)
pursuant to Article 12 of the Equity Definitions, an Additional Termination Event (with such terminated Transaction(s) (or portions thereof) being the Affected Transaction(s) and Issuer being the sole Affected Party) shall be deemed to occur, and,
in lieu of Sections 12.7, 12.8 and 12.9 of the Equity Definitions, Section 6 of the Agreement shall apply to such Affected Transaction(s).

  

 7 

			
	 Additional Disruption Events:

		
	 (a) Change in Law:
	  	Applicable; provided that (i) that clause (Y) of Section 12.9(a)(ii) of the Equity Definitions shall not be applicable only to the extent as any event described therein results in an
increased cost to Dealer of hedging the Transaction which increased cost would be included under “Increased Cost of Hedging” and (ii) in the event a Change in Law occurs in respect of Dealer pursuant to clause (Y) of Section 12.9(a)(ii) of
the Equity Definitions (taking into account clause (i) of this proviso) and Dealer provides a notice of termination to Issuer pursuant to Section 12.9(b)(i) of the Equity Definitions, Issuer shall have the right to request, upon written notice
delivered to Dealer prior to 5 P.M. (New York City time) on the Scheduled Trading Day immediately prior to the date of termination specified in such notice, that Dealer propose an adjustment to the terms of the Transaction to account for the effect
of such Change in Law on Dealer. If Issuer accepts Dealer’s proposed adjustment prior to 5 P.M. on the second Scheduled Trading Day following the date such proposed adjustment is delivered, Dealer shall so adjust the Transaction and such event
shall not constitute a Change in Law. However, if (x) Issuer does not accept such proposed adjustment prior to such time or (y) Dealer determines, in its sole discretion, that no adjustment that it could make would produce a commercially reasonable
result, then such event shall constitute a Change in Law and, in each case, Dealer shall have the right to specify a date of termination in accordance with Section 12.9(b)(i); provided that such date of termination may be any date on or after
the later to occur of (A) the date of termination specified in the original notice delivered to Issuer and (B) the date either of the events in clause (x) or (y) occurs.
		
	 (b) Failure to Deliver:
	  	Applicable
		
	 (c) Insolvency Filing:
	  	Applicable
		
	 (d) Hedging Disruption:
	  	Applicable; provided that Section 12.9(a)(v)(A) of the Equity Definitions is amended by inserting the words “in its reasonable discretion” after the word
“necessary” in the third line thereof.
		
	 (e) Increased Cost of Hedging:
	  	Applicable; provided that Section 12.9(a)(vi)(A) of the Equity Definitions is amended by inserting the words “in its reasonable discretion” after the word
“necessary” in the fourth line thereof.
		
	 (f) Loss of Stock Borrow:
	  	Applicable
		
	  Maximum Stock Loan Rate:
	  	2.00% per annum
		
	 (g) Increased Cost of Stock Borrow:
	  	Applicable
		
	  Initial Stock Loan Rate:
	  	0.25% per annum

  

 8 

			
	 Hedging Party:
	  	Dealer
		
	 Determining Party:
	  	Dealer; provided that the Determining Party shall deliver, within five Exchange Business Days of a written request by the other party, a written explanation of any calculation made by it, and
including, where applicable, the methodology and data applied, it being understood that the Determining Party shall not be obligated to disclose any proprietary models used by it for such calculation.
		
	 Non-Reliance:
	  	Applicable
		
	 Agreements and Acknowledgments Regarding Hedging Activities:
	  	Applicable
		
	 Additional Acknowledgments:
	  	Applicable
		
	 3. Calculation Agent:
	  	Dealer. All calculations and determinations by the Calculation Agent shall be made in good faith and in a commercially reasonable manner. The Calculation Agent shall deliver, within five
Exchange Business Days of a written request by Issuer, a written explanation of any calculation made by it, and including, where applicable, the methodology and data applied, it being understood that the Calculation Agent shall not be obligated to
disclose any proprietary models used by it for such calculation.

 4. Account Details: 
 Dealer Payment Instructions: 
 JP Morgan Chase Bank New York 
 For A/C Goldman, Sachs & Co. 
 A/C #930-1-011483 
 ABA: 021-000021 
 Account for delivery of Shares to Dealer: To be provided by Dealer 
 Issuer Payment Instructions: To be provided by Issuer. 
 5. Offices: 
 The Office of Dealer for the Transaction is: 
 One New York Plaza, New York, New York 10004 
 The Office of Issuer for the Transaction is: 
 Teradyne, Inc. 
 600 Riverpark Drive 
 North Reading, MA 01864 
 6. Notices: For purposes of this Confirmation: 
  

					
	(a)	  	To:	  	Teradyne, Inc.
		  		  	600 Riverpark Drive
		  		  	North Reading, MA 01864

  

 9 

							
		  	Attn:	 	Greg Beecher
		  		 	Chief Financial Officer
		  	Telephone:	 	(978)-370-2952
		  	Facsimile:	 	(978)-370-2910
				
		  	With a copy to:	 		  	
			
		  	Attn:	 	Paul Igoe
		  		 	Associate General Counsel
		  	Telephone:	 	(978)-370-3514
		  	Facsimile:	 	(978)-370-2290
		
	(b)	  	Address for notices or communications to Dealer:
		
	 To:
	  	Goldman, Sachs & Co.
		  		 	One New York Plaza
		  		 	New York, NY 10004
		  	Attn:	 	Serge Marquié,
		  		 	Equity Capital Markets
		  	Telephone:	 	212-902-9779	  	
		  	Facsimile:	 	917-977-4253	  	
		  	Email:	 	marqse@am.ibd.gs.com	  	
		
		  	With a copy to:
			
		  	Attn:	 	Brian Smith,
		  		 	Equity Capital Markets
		  	Telephone:	 	212-902-0058	  	
		  	Facsimile:	 	212-412-9881	  	
		  	Email:	 	smibri@am.ibd.gs.com	  	
		
		  	 And email notification to the following address:
  
 Eq-derivs-notifications@am.ibd.gs.com

 7. Representations, Warranties and Agreements: 
 (a) In addition to the representations and warranties in the Agreement and those contained elsewhere herein, Issuer represents and warrants to and for the
benefit of, and agrees with, Dealer as follows: 
 (i) On the Trade Date and as of the date of any amendment or adjustment to
the Transaction pursuant to “Change in Law” above and as of the date of any election by Issuer of the Share Termination Alternative under (and as defined in) Section 8(a) below, (A) none of Issuer and its officers and directors
is aware of any material nonpublic information regarding Issuer or the Shares and (B) all reports and other documents filed by Issuer with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), when considered as a whole (with the more recent such reports and documents deemed to amend inconsistent statements contained in any earlier such reports and documents), do not contain any untrue statement of a
material fact or any omission of a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances in which they were made, not misleading. 
  

 10 

 (ii) Without limiting the generality of Section 13.1 of the Equity Definitions,
Issuer acknowledges that neither Dealer nor any of its affiliates is making any representations or warranties or taking a position or expressing any view with respect to the treatment of the Transaction under any accounting standards, including FASB
Statements 128, 133 (as amended), 149 or 150, EITF Issue No. 00-19, 01-6, 03-6 or 07-5 (or any successor issue statements) or under the FASB’s Liabilities & Equity Project. 
 (iii) Prior to the Trade Date, Issuer shall deliver to Dealer a resolution of Issuer’s board of directors authorizing the Transaction
and such other certificate or certificates as Dealer shall reasonably request. 
 (iv) Issuer is not entering into this
Confirmation to create actual or apparent trading activity in the Shares (or any security convertible into or exchangeable for Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or
exchangeable for Shares) or otherwise in violation of the Exchange Act. 
 (v) Issuer is not, and after giving effect to the
transactions contemplated hereby will not be, required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 
 (vi) On the Trade Date, the Premium Payment Date and any Additional Premium Payment Date (A) the assets of Issuer at their fair
valuation exceed the liabilities of Issuer, including contingent liabilities, (B) the capital of Issuer is adequate to conduct the business of Issuer and (C) Issuer has the ability to pay its debts and obligations as such debts mature and
does not intend to, or does not believe that it will, incur debt beyond its ability to pay as such debts mature. 
 (vii)
Issuer shall not take any action to decrease the number of Available Shares below the Capped Number (each as defined below). 
 (viii) The representations and warranties of Issuer set forth in Section 3 of the Agreement and Section 1 of the Underwriting Agreement dated as of the Trade Date between Issuer and the Underwriters named therein (the
“Underwriting Agreement”) are true and correct as of the Trade Date and the Effective Date and are hereby deemed to be repeated to Dealer as if set forth herein. 
 (ix) (x)(A) On the Trade Date, the Shares or securities that are convertible into, or exchangeable or exercisable for Shares, are not, and
shall not be, subject to a “restricted period,” as such term is defined in Regulation M under the Exchange Act (“Regulation M”) and (B) Issuer shall not engage in any “distribution,” as such term is defined
in Regulation M, other than a distribution meeting the requirements of the exceptions set forth in sections 101(b)(10) and 102(b)(7) of Regulation M, until the second Exchange Business Day immediately following the Trade Date, and (y)(A) during the
period starting on the first Expiration Date and ending on the last Expiration Date (the “Settlement Period”), the Shares or securities that are convertible into, or exchangeable or exercisable for Shares, are not, and shall not be,
subject to a “restricted period,” as defined in Regulation M and (B) Issuer shall not engage in any “distribution,” as such term is defined in Regulation M, other than a distribution meeting the requirements of the
exceptions set forth in sections 101(b)(10) and 102(b)(7) of Regulation M, until the second Exchange Business Day immediately following the Settlement Period. 
 (x) During the Settlement Period and on any other Exercise Date, neither Issuer nor any “affiliate” or “affiliated
purchaser” (each as defined in Rule 10b-18 of the Exchange Act (“Rule 10b-18”)) shall directly or indirectly (including, without limitation, by means of any cash-settled or other derivative instrument) purchase, offer to
purchase, place any bid or limit order that would effect a purchase of, or commence any tender offer relating to, any Shares (or an equivalent interest, including a unit of beneficial interest in a trust or limited partnership or a depository share)
or any security convertible into or exchangeable or exercisable for Shares, except through Dealer; provided, that this Section 7(a)(x) shall not apply to the following: (A) privately negotiated purchases of Shares (or any security
convertible into or exchangeable for Shares); (B) purchases of Shares pursuant to exercises of stock options granted to former or current employees, 

  

 11 

 
officers, directors, or other affiliates of Issuer, including the withholding and/or purchase of Shares from holders of such options to satisfy payment of
the option exercise price and/or satisfy tax withholding requirements in connection with the exercise of such options; (C) purchases of Shares from holders of performance shares or units or restricted shares or units to satisfy tax withholding
requirements in connection with vesting; (D) the conversion or exchange by holders of any convertible or exchangeable securities of the Issuer previously issued; or (E) purchases of Shares effected by or for a plan by an agent independent
of the Issuer that satisfy the requirements of Rule 10b-18(a)(13)(ii). 
 (xi) Issuer agrees that it (A) will not during
the during the Settlement Period make, or permit to be made, any public announcement (as defined in Rule 165(f) under the Securities Act) of any Merger Transaction or potential Merger Transaction unless such public announcement is made prior to the
opening or after the close of the regular trading session on the Exchange for the Shares; (B) shall promptly (but in any event prior to the next opening of the regular trading session on the Exchange) notify Dealer following any such
announcement that such announcement has been made; and (C) shall promptly (but in any event prior to the next opening of the regular trading session on the Exchange) provide Dealer with written notice specifying (i) Issuer’s average
daily Rule 10b-18 Purchases (as defined in Rule 10b-18) during the three full calendar months immediately preceding the announcement date that were not effected through Dealer or its affiliates and (ii) the number of Shares purchased pursuant
to the proviso in Rule 10b-18(b)(4) under the Exchange Act for the three full calendar months preceding the announcement date. Such written notice shall be deemed to be a certification by Issuer to Dealer that such information is true and correct.
In addition, Issuer shall promptly notify Dealer of the earlier to occur of the completion of such transaction and the completion of the vote by target shareholders. “Merger Transaction” means any merger, acquisition or similar
transaction involving a recapitalization as contemplated by Rule 10b-18(a)(13)(iv) under the Exchange Act. 
 (xii) Any Shares
issued or delivered in connection with the Transaction shall be duly authorized and validly issued, fully paid and non-assessable, and the issuance or delivery thereof shall not be subject to any preemptive or similar rights and shall, upon
issuance, be accepted for listing or quotation on the Exchange. 
 (xiii) Without limiting the generality of
Section 3(a)(iii) of the Agreement, the Transaction will not violate Rule 13e-1 or Rule 13e-4 under the Exchange Act. 
 (xiv) (a) Issuer does not have, and shall not attempt to exercise, any influence over how, when or whether to effect purchases of Shares by Dealer (or its agents or affiliates) to establish its initial Hedge Positions in connection
with the Transaction and (b) Issuer is entering into the Agreement and the Transaction in good faith and not as part of a plan or scheme to evade compliance with federal securities laws including, without limitation, Rule 10b-5 promulgated
under the Exchange Act. The Issuer also acknowledges and agrees that any amendment, modification, waiver or termination of this Confirmation must be effected in accordance with the requirements for the amendment or termination of a “plan”
as defined in Rule 10b5-1(c) under the Exchange Act. Without limiting the generality of the foregoing, any such amendment, modification, waiver or termination shall be made in good faith and not as part of a plan or scheme to evade the prohibitions
of Rule 10b-5 under the Exchange Act, and no amendment, modification or waiver shall be made at any time at which the Issuer is aware of any material nonpublic information regarding the Issuer or the Shares. 
 (b) Each of Dealer and Issuer agrees and represents that it is an “eligible contract participant” as defined in Section 1a(12) of the U.S.
Commodity Exchange Act, as amended. 
 (c) Each of Dealer and Issuer acknowledges that the offer and sale of the Transaction to it is
intended to be exempt from registration under the Securities Act, by virtue of Section 4(2) thereof. Accordingly, Dealer represents and warrants to Issuer that (i) it has the financial ability to bear the economic risk of its investment in
the Transaction and is able to bear a total loss of its investment and its investments in and liabilities in respect of the Transaction, which it understands are not readily marketable, are not disproportionate to its net worth, and it is able to
bear any loss in connection with the Transaction, including the loss of its entire investment in the Transaction, (ii) it is an “accredited investor” as that term is 

  

 12 

 
defined in Regulation D as promulgated under the Securities Act, (iii) it is entering into the Transaction for its own account and without a view to the
distribution or resale thereof, (iv) the assignment, transfer or other disposition of the Transaction has not been and will not be registered under the Securities Act and is restricted under this Confirmation, the Securities Act and state
securities laws, and (v) its financial condition is such that it has no need for liquidity with respect to its investment in the Transaction and no need to dispose of any portion thereof to satisfy any existing or contemplated undertaking or
indebtedness and is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks of the Transaction. 
 (d) Each of Dealer and Issuer agrees and acknowledges that Dealer is a “financial institution,” “swap participant” and
“financial participant” within the meaning of Sections 101(22), 101(53C) and 101(22A) of Title 11 of the United States Code (the “Bankruptcy Code”). The parties hereto further agree and acknowledge (A) that this
Confirmation is (i) a “securities contract,” as such term is defined in Section 741(7) of Title 11 of the Bankruptcy Code, with respect to which each payment and delivery hereunder is a “settlement payment,” as such
term is defined in Section 741(8) of the Bankruptcy Code, and (ii) a “swap agreement,” as such term is defined in Section 101(53B) of the Bankruptcy Code, with respect to which each payment and delivery hereunder is a
“transfer,” as such term is defined in Section 101(54) of the Bankruptcy Code, and (B) that Dealer is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of
the Bankruptcy Code. 
 (e) As a condition to the effectiveness of the Transaction, Issuer shall deliver to Dealer (i) an incumbency
certificate, dated as of the Trade Date, of Issuer in customary form and (ii) an opinion of counsel, dated as of the Trade Date and reasonably acceptable to Dealer in form and substance, with respect to the matters set forth in
Section 3(a) of the Agreement and such other matters as Dealer may reasonably request. 
 8. Other Provisions: 
 (a) Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events. If Issuer shall owe Dealer any amount pursuant
to Section 12.2, 12.3, 12.6, 12.7 or 12.9 of the Equity Definitions (except in the event of a Tender Offer, Merger Event, Insolvency or Nationalization, in each case, in which the consideration or proceeds to be paid to holders of Shares
consists solely of cash) or pursuant to Section 6(d)(ii) of the Agreement (except in the event of an Event of Default in which Issuer is the Defaulting Party or a Termination Event in which Issuer is the Affected Party that resulted from an
event or events within Issuer’s control) (a “Payment Obligation”), Issuer shall have the right, in its sole discretion, to satisfy any such Payment Obligation by the Share Termination Alternative (as defined below) by giving
irrevocable telephonic notice to Dealer, confirmed in writing within one Scheduled Trading Day, between the hours of 9:00 A.M. and 4:00 P.M., New York City time, on the Merger Date, Tender Offer Date, Announcement Date, Early Termination Date or
other date the Transaction is cancelled or terminated, as applicable (“Notice of Share Termination”). Upon such Notice of Share Termination, the following provisions shall apply on the Scheduled Trading Day immediately following the
Merger Date, the Tender Offer Date, Announcement Date, Early Termination Date or other date the Transaction is cancelled or terminated, as applicable: 
  

			
	Share Termination Alternative:	  	Applicable and means that Issuer shall deliver to Dealer the Share Termination Delivery Property on the date on which the Payment Obligation would otherwise be due pursuant to Section 12.2,
12.3, 12.6, 12.7 or 12.9 of the Equity Definitions or Section 6(d)(ii) of the Agreement, as applicable (the “Share Termination Payment Date”), in satisfaction of the Payment Obligation.
		
	Share Termination Delivery Property:	  	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall
adjust the Share Termination Delivery Property by replacing any fractional portion of the aggregate amount of a security therein with an amount of

  

 13 

			
		  	cash in the Settlement Currency equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price.
		
	Share Termination Unit Price:	  	The value of property contained in one Share Termination Delivery Unit, as determined by the Calculation Agent in its discretion by commercially reasonable means and notified by the
Calculation Agent to Issuer at the time of notification of the Payment Obligation.
		
	Share Termination Delivery Unit:	  	In the case of a Termination Event, Event of Default, Delisting or Additional Disruption Event, one Share or, in the case of an Insolvency, Nationalization, Merger Event or Tender Offer, one
Share or a unit consisting of the number or amount of each type of property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any securities) in such
Insolvency, Nationalization, Merger Event or Tender Offer. If such Insolvency, Nationalization, Merger Event or Tender Offer involves a choice of consideration to be received by holders, such holder shall be deemed to have elected to receive the
maximum possible amount of cash.
		
	Failure to Deliver:	  	Applicable
		
	Other Applicable Provisions:	  	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9, 9.11 and 9.12 of the Equity Definitions will be applicable as if “Physical Settlement” applied
to the Transaction, except that all references to “Shares” shall be read as references to “Share Termination Delivery Units”; provided that the Representation and Agreement contained in Section 9.11 of the Equity
Definitions shall be modified by excluding any representations therein relating to restrictions, obligations, limitations or requirements under applicable securities laws as a result of the fact that Issuer is the issuer of any Share Termination
Delivery Units (or any security forming a part thereof). If, in the reasonable opinion of Issuer or Dealer, based on advice of counsel, for any reason, any securities comprising the Share Termination Delivery Units deliverable pursuant to this
Section 8(a) would not be immediately freely transferable by Dealer under Rule 144 under the Securities Act, then Dealer may elect to either (x) permit delivery of such securities notwithstanding any restriction on transfer or (y) have the
provisions set forth in Section 8(b) below apply.

 (b) Registration/Private Placement Procedures. (i) With respect to the Transaction,
the following provisions shall apply to the extent provided for above opposite the caption “Net Share Settlement” in Section 2 or in paragraph (a) of this Section 8. If so applicable, then, at the election of Issuer by
notice to Dealer within one Exchange Business Day after the relevant delivery obligation arises, but in any event at least one Exchange Business Day prior to the date on which such delivery obligation is due, either (A) all Shares or Share
Termination Delivery Units, as the case may be, delivered by Issuer to Dealer shall be, at the time of such delivery, covered by an effective registration statement of Issuer for immediate resale by Dealer (such registration statement and the
corresponding prospectus (the “Prospectus”) (including, without limitation, any sections describing the plan of distribution) in form and content commercially reasonably satisfactory to Dealer) or (B) Issuer shall deliver
additional Shares or Share Termination Delivery Units, as the case may be, so that the value of such Shares or Share Termination Delivery Units, as determined by the Calculation Agent to reflect an appropriate liquidity discount, equals the value of
the number of Shares or Share Termination Delivery Units that would otherwise be deliverable if such Shares or Share Termination Delivery Units were freely tradeable (without prospectus delivery) upon receipt by Dealer (such value, the
“Freely Tradeable Value”); provided that, if requested by Dealer, Issuer shall make the election described in this clause (B) with respect to Shares delivered on all Settlement Dates no later than one Exchange Business
Day prior to the first Exercise Date, 

  

 14 

 
and the applicable procedures described below shall apply to all Shares delivered on the Settlement Dates on an aggregate basis. (For the avoidance of doubt,
as used in this paragraph (b) only, the term “Issuer” shall mean the issuer of the relevant securities, as the context shall require.) 
 (ii) If Issuer makes the election described in clause (b)(i)(A) above: 
 (A) Dealer (or an
affiliate of Dealer designated by Dealer) shall be afforded a reasonable opportunity to conduct a due diligence investigation with respect to Issuer that is customary in scope for underwritten offerings of equity securities and that yields results
that are commercially reasonably satisfactory to Dealer or such affiliate, as the case may be, in its discretion; and 
 (B)
Dealer (or an affiliate of Dealer designated by Dealer) and Issuer shall enter into an agreement (a “Registration Agreement”) on commercially reasonable terms in connection with the public resale of such Shares or Share Termination
Delivery Units, as the case may be, by Dealer or such affiliate substantially similar to underwriting agreements customary for underwritten offerings of equity securities, in form and substance commercially reasonably satisfactory to Dealer or such
affiliate and Issuer, which Registration Agreement shall include, without limitation, provisions substantially similar to those contained in such underwriting agreements relating to the indemnification of, and contribution in connection with the
liability of, Dealer and its affiliates and Issuer, shall provide for the payment by Issuer of all expenses in connection with such resale, including all registration costs and all fees and expenses of counsel for Dealer, and shall provide for the
delivery of accountants’ “comfort letters” to Dealer or such affiliate with respect to the financial statements and certain financial information contained in or incorporated by reference into the Prospectus. 
 (iii) If Issuer makes the election described in clause (b)(i)(B) above: 
 (A) Dealer (or an affiliate of Dealer designated by Dealer) and any potential institutional purchaser of any such Shares or Share
Termination Delivery Units, as the case may be, from Dealer or such affiliate identified by Dealer shall be afforded a commercially reasonable opportunity to conduct a due diligence investigation in compliance with applicable law with respect to
Issuer customary in scope for private placements of equity securities (including, without limitation, the right to have made available to them for inspection all financial and other records, pertinent corporate documents and other information
reasonably requested by them), subject to execution by such recipients of customary confidentiality agreements reasonably acceptable to Issuer; 
 (B) Dealer (or an affiliate of Dealer designated by Dealer) and Issuer shall enter into an agreement (a “Private Placement Agreement”) on commercially reasonable terms in connection with the private
placement of such Shares or Share Termination Delivery Units, as the case may be, by Issuer to Dealer or such affiliate and the private resale of such shares by Dealer or such affiliate, substantially similar to private placement purchase agreements
customary for private placements of equity securities, in form and substance commercially reasonably satisfactory to Dealer and Issuer, which Private Placement Agreement shall include, without limitation, provisions substantially similar to those
contained in such private placement purchase agreements relating to the indemnification of, and contribution in connection with the liability of, Dealer and its affiliates and Issuer, shall provide for the payment by Issuer of all expenses in
connection with such resale, including all fees and expenses of counsel for Dealer, shall contain representations, warranties and agreements of Issuer reasonably necessary or advisable to establish and maintain the availability of an exemption from
the registration requirements of the Securities Act for such resales, and shall use best efforts to provide for the delivery of accountants’ “comfort letters” to Dealer or such affiliate with respect to the financial statements and
certain financial information contained in or incorporated by reference into the offering memorandum prepared for the resale of such Shares; 
 (C) Issuer agrees that any Shares or Share Termination Delivery Units so delivered to Dealer, (i) may be transferred by and among Dealer and its affiliates, and Issuer shall effect such transfer without any
further action by Dealer and (ii) after the minimum “holding period” 

  

 15 

 
within the meaning of Rule 144(d)(3) under the Securities Act has elapsed with respect to such Shares or any securities issued by Issuer comprising such
Share Termination Delivery Units, Issuer shall promptly remove, or cause the transfer agent for such Shares or securities to remove, any legends referring to any such restrictions or requirements from such Shares or securities upon delivery by
Dealer (or such affiliate of Dealer) to Issuer or such transfer agent of any seller’s and broker’s representation letters customarily delivered by Dealer in connection with resales of restricted securities pursuant to Rule 144 under the
Securities Act, without any further requirement for the delivery of any certificate, consent, agreement, opinion of counsel, notice or any other document, any transfer tax stamps or payment of any other amount or any other action by Dealer (or such
affiliate of Dealer); and 
 (D) Issuer shall not take, or cause to be taken, any action that would make unavailable either
the exemption pursuant to Section 4(2) of the Securities Act for the sale by Issuer to Dealer (or any affiliate designated by Dealer) of the Shares or Share Termination Delivery Units, as the case may be, or the exemption pursuant to
Section 4(1) or Section 4(3) of the Securities Act for resales of the Shares or Share Termination Delivery Units, as the case may be, by Dealer (or any such affiliate of Dealer). 
 (c) Make-whole Shares. If Issuer makes the election described in clause (i)(B) of paragraph (b) of this Section 8, then Dealer or its
affiliates may sell (which sale shall be made in a commercially reasonable manner) such Shares or Share Termination Delivery Units, as the case may be, during a period (the “Resale Period”) commencing on the Exchange Business Day
following delivery of such Shares or Share Termination Delivery Units, as the case may be, and ending on the Exchange Business Day on which Dealer or its affiliates completes the sale of all such Shares or Share Termination Delivery Units, as the
case may be, or a sufficient number of Shares or Share Termination Delivery Units, as the case may be, so that the realized net proceeds of such sales exceed the Freely Tradeable Value. If any of such delivered Shares or Share Termination Delivery
Units remain after such realized net proceeds exceed the Freely Tradeable Value, Dealer shall return such remaining Shares or Share Termination Delivery Units to Issuer. If the Freely Tradeable Value exceeds the realized net proceeds from such
resale, Issuer shall transfer to Dealer by the open of the regular trading session on the Exchange on the Exchange Trading Day immediately following the last day of the Resale Period the amount of such excess (the “Additional
Amount”) in cash or in a number of additional Shares or Share Termination Delivery Units, as the case may be, (“Make-whole Shares”) in an amount that, based on the Relevant Price on the last day of the Resale Period (as if
such day was the “Valuation Date” for purposes of computing such Relevant Price), has a dollar value equal to the Additional Amount. The Resale Period shall continue to enable the sale of the Make-whole Shares in the manner contemplated by
this Section 8(c). This provision shall be applied successively until the Additional Amount is equal to zero, subject to Section 8(e). 
 (d) Beneficial Ownership. Notwithstanding anything to the contrary in the Agreement or this Confirmation, in no event shall Dealer be entitled to receive, or shall be deemed to receive, any Shares if, immediately upon giving effect
to such receipt of such Shares, (i) the “beneficial ownership” (within the meaning of Section 13 of the Exchange Act and the rules promulgated thereunder) of Shares by Dealer, any of its affiliates subject to aggregation with
Dealer for purposes of the “beneficial ownership” test under Section 13 of the Exchange Act and all persons who may form a “group” (within the meaning of Rule 13d-5(b)(1) under the Exchange Act) with Dealer with respect to
“beneficial ownership” of any Shares (collectively, “Dealer Group”) would be equal to or greater than 9% or more of the outstanding Shares on the date of determination or (ii) Dealer, Dealer Group or any person whose
ownership position would be aggregated with that of Dealer or Dealer Group (Dealer, Dealer Group or any such person, a “Dealer Person”) under Chapter 110F of the Massachusetts General Laws or other federal, state or local
regulations or regulatory orders applicable to ownership of Shares (“Applicable Laws”), would own, beneficially own, constructively own, control, hold the power to vote or otherwise meet a relevant definition of ownership in excess
of a number of Shares equal to (x) the number of Shares that would give rise to reporting or registration obligations or other requirements (including obtaining prior approval by a state or federal regulator) of a Dealer Person under Applicable
Laws and with respect to which such requirements have not been met or the relevant approval has not been received or that would subject a Dealer Person to restrictions (including restrictions relating to business combinations and other designated
transactions) under Applicable Laws minus (y) 1.0% of the number of Shares outstanding on the date of determination 

  

 16 

 
(either such condition described in clause (i) or (ii), an “Excess Ownership Position”). If any delivery owed to Dealer hereunder is
not made, in whole or in part, as a result of this provision, Issuer’s obligation to make such delivery shall not be extinguished and Issuer shall make such delivery as promptly as practicable after, but in no event later than one Exchange
Business Day after, Dealer gives notice to Issuer that such delivery would not result in the existence of an Excess Ownership Position. 
 (e) Limitations on Settlement by Issuer. Notwithstanding anything herein or in the Agreement to the contrary, in no event shall Issuer be required to deliver Shares in connection with the Transaction in excess of 95,890,410 Shares
(as such number may be adjusted from time to time in accordance with the provisions hereof) (the “Capped Number”). Issuer represents and warrants to Dealer (which representation and warranty shall be deemed to be repeated on each
day that the Transaction is outstanding) that the Capped Number is equal to or less than the number of authorized but unissued Shares of the Issuer that are not reserved for future issuance in connection with transactions in the Shares (other than
the Transaction) on the date of the determination of the Capped Number (such Shares, the “Available Shares”). In the event Issuer shall not have delivered the full number of Shares otherwise deliverable as a result of this
Section 8(e) (the resulting deficit, the “Deficit Shares”), Issuer shall be continually obligated to deliver Shares, from time to time until the full number of Deficit Shares have been delivered pursuant to this paragraph,
when, and to the extent, that (A) Shares are repurchased, acquired or otherwise received by Issuer or any of its subsidiaries after the Trade Date (whether or not in exchange for cash, fair value or any other consideration), (B) authorized
and unissued Shares reserved for issuance in respect of other transactions prior to such date which prior to the relevant date become no longer so reserved and (C) Issuer additionally authorizes any unissued Shares that are not reserved for
other transactions (such events as set forth in clauses (A), (B) and (C) above, collectively, the “Share Issuance Events”). Issuer shall promptly notify Dealer of the occurrence of any of the Share Issuance Events
(including the number of Shares subject to clause (A), (B) or (C) and the corresponding number of Shares to be delivered) and, as promptly as reasonably practicable, deliver such Shares thereafter. Issuer shall not, until Issuer’s
obligations under the Transaction have been satisfied in full, use any Shares that become available for potential delivery to Dealer as a result of any Share Issuance Event for the settlement or satisfaction of any transaction or obligation other
than the Transaction or reserve any such Shares for future issuance for any purpose other than to satisfy Issuer’s obligations to Dealer under the Transaction. 
 (f) Equity Rights. Dealer acknowledges and agrees that this Confirmation is not intended to convey to it rights with respect to the Transaction that are senior to the claims of common stockholders in the event
of Issuer’s bankruptcy. For the avoidance of doubt, the parties agree that the preceding sentence shall not apply at any time other than during Issuer’s bankruptcy to any claim arising as a result of a breach by Issuer of any of its
obligations under this Confirmation or the Agreement. For the avoidance of doubt, the parties acknowledge that the obligations of Issuer under this Confirmation are not secured by any collateral that would otherwise secure the obligations of Issuer
herein under or pursuant to any other agreement. 
 (g) Amendments to Equity Definitions. The following amendments shall be made to
the Equity Definitions: 
 (i) The first sentence of Section 11.2(c) of the Equity Definitions, prior to clause
(A) thereof, is hereby amended to read as follows: ‘(c) If “Calculation Agent Adjustment” is specified as the Method of Adjustment in the related Confirmation of a Share Option Transaction, then following the announcement or
occurrence of any Potential Adjustment Event, the Calculation Agent will determine whether such Potential Adjustment Event has a material effect on the theoretical value of the relevant Shares or options on the Shares and, if so, will (i) make
appropriate adjustment(s), if any, to any one or more of:’ and, the portion of such sentence immediately preceding clause (ii) thereof is hereby amended by deleting the words “diluting or concentrative” and the words
“(provided that no adjustments will be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares)” and replacing such latter phrase with the words “(and, for the
avoidance of doubt, adjustments may be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the relevant Shares)”; and 
  

 17 

 (ii) Sections 11.2(a) and 11.2(e)(vii) of the Equity Definitions are hereby amended by
deleting the words “diluting or concentrative” and replacing them with “material” and adding the phrase “or options on the Shares” at the end of the sentence; 
 (iii) Section 12.9(b)(iv) of the Equity Definitions is hereby amended by (A) deleting (1) subsection (A) in its
entirety, (2) the phrase “or (B)” following subsection (A) and (3) the phrase “in each case” in subsection (B); and (B) deleting the phrase “neither the Non-Hedging Party nor the Lending Party lends
Shares in the amount of the Hedging Shares or” in the penultimate sentence; and 
 (iv) Section 12.9(b)(v) of the
Equity Definitions is hereby amended by (A) adding the word “or” immediately before subsection “(B)” and deleting the comma at the end of subsection (A); and (B)(1) deleting subsection (C) in its entirety,
(2) deleting the word “or” immediately preceding subsection (C), (3) replacing in the penultimate sentence in its entirety and replacing it with the sentence “The Hedging Party will determine the Cancellation Amount payable
by one party to the other.” and (4) deleting clause (X) in the final sentence. 
 (v) Section 12.7(b) of
the Equity Definitions is hereby amended by deleting the words “(and in any event within five Exchange Business Days) by the parties after” appearing after the words “agreed promptly” and replacing with the words “by the
parties on or prior to”. 
 (h) Transfer and Assignment. Dealer may transfer or assign its rights and obligations hereunder and
under the Agreement, in whole or in part, at any time (i) without the consent of Issuer, if such transfer or assignment is to an affiliate of Dealer or any entity sponsored or organized by, on behalf of or for the benefit of Dealer, or
(ii) with the consent of Issuer if such transfer or assignment is to any other person, such consent not to be unreasonably withheld or delayed. 
 (i) Disclosure. Effective from the date of commencement of discussions concerning the Transaction, Issuer and each of its employees, representatives, or other agents may disclose to any and all persons, without
limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including opinions or other tax analyses) that are provided to Issuer relating to such tax treatment and tax structure. 
 (j) Additional Termination Events. The occurrence of any of the following shall constitute an Additional Termination Event with respect to which
the Transaction shall be the sole Affected Transaction and Issuer shall be the sole Affected Party and Dealer shall be the party entitled to designate an Early Termination Date pursuant to Section 6(b) of the Agreement and to determine the
amount payable pursuant to Section 6(e) of the Agreement; provided that with respect to any Additional Termination Event, Dealer may choose to treat part of the Transaction as the sole Affected Transaction, and, upon the termination of
the Affected Transaction, a Transaction with terms identical to those set forth herein except with a Number of Warrants equal to the unaffected number of Warrants shall be treated for all purposes as the Transaction, which shall remain in full force
and effect: 
 (i) Dealer reasonably determines, based upon advice of counsel, that it is advisable to terminate a portion of
the Transaction so that Dealer’s related hedging activities will comply with applicable securities laws, rules or regulations or related policies and procedures of Dealer (whether or not such requirements, policies or procedures are imposed by
law or have been voluntarily adopted by Dealer), or Dealer, despite using commercially reasonable efforts, is unable or reasonably determines that it is impractical or illegal to hedge its obligations pursuant to this Transaction in the public
market without registration under the Securities Act or as a result of any legal, regulatory or self-regulatory requirements; 
 (ii) at any time at which any Excess Ownership Position occurs, Dealer, in its discretion, is unable to effect a transfer or assignment to a third party of the Transaction or any other transaction between the parties after using its
commercially reasonable efforts on pricing terms and within a time period reasonably acceptable to Dealer such that an Excess Ownership Position no longer exists; provided that Dealer shall treat only that portion of the Transaction as the
Affected Transaction as necessary so that such Excess Ownership Position no longer exists; 
  

 18 

 (iii) Issuer becomes aware (by way of a report or any other filing pursuant to
Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by any person or group, including any group acting for the purpose of acquiring, holding or disposing of securities within the meaning of Rule
13d-5(b)(1) under the Exchange Act, in a single transaction or in a related series of transactions, by way of a merger, consolidation or other business combination or purchase of beneficial ownership of 50% or more of the total voting power of all
shares of Issuer’s capital stock entitled to vote generally in elections of directors; 
 (iv) Issuer (x) merges or
consolidates with or into any other person, another person merges with or into Issuer, or Issuer conveys, sells, transfers or leases all or substantially all of its assets to another person or (y) engages in any recapitalization,
reclassification, binding share exchange or other transaction in which all or substantially all of the Shares are exchanged for or converted into cash, securities or other property, in each case, other than any merger or consolidation: 

(A) that does not result in a reclassification, conversion, exchange or cancellation of the outstanding Shares and pursuant to which
the holders of Shares immediately prior to the transaction are entitled to exercise, directly or indirectly, 50% or more of the total voting power of all shares of capital stock entitled to vote generally in the election of directors of the
continuing or surviving corporation immediately after such transaction in substantially the same proportions as their respective ownership of Issuer’s voting securities immediately prior to the transaction; or 
 (B) which is effected solely to change Issuer’s jurisdiction of incorporation and results in a reclassification, conversion or
exchange of outstanding Shares solely into shares of common stock of the surviving entity; or 
 (v) the first day on which a
majority of Issuer’s board of directors does not consist of Continuing Directors. 
 Notwithstanding the foregoing, a transaction set forth in clause
(iii) or (iv) above will not constitute an Additional Termination Event if at least 90% of the consideration paid for the Shares (excluding cash payments for fractional shares and cash payments made pursuant to dissenters’ appraisal
rights and cash dividends) in connection with such event consists of shares of common stock traded on any of the New York Stock Exchange, the NASDAQ Global Market or the NASDAQ Global Select Market (or any of their respective successors) (or will be
so traded or quoted immediately following the completion of the merger or consolidation or such other transaction) (“Listed Shares”). 
 “Continuing Directors” means (i) individuals who on the date hereof constituted Issuer’s board of directors and (ii) any new directors whose election to Issuer’s board of directors
or whose nomination for election by Issuer’s stockholders was approved by at least a majority of Issuer’s directors then still in office (or a duly constituted committee thereof), either who were directors on the date hereof or whose
election or nomination for election was previously so approved. 
 (k) Effectiveness. If, on or prior to the Effective Date, Dealer
reasonably determines that it is advisable to cancel the Transaction because of concerns that Dealer’s related hedging activities could be viewed as not complying with applicable securities laws, rules or regulations, the Transaction shall be
cancelled and shall not become effective, and neither party shall have any obligation to the other party in respect of the Transaction. 
 (l) Extension of Settlement. Dealer may divide any Component into additional Components and designate the Expiration Date and the Number of Warrants for each such Component if Dealer determines, in its reasonable discretion, that
such further division is necessary or advisable to preserve Dealer’s hedging activity hereunder in light of existing liquidity conditions in the cash market or stock loan market or to enable Dealer to effect purchases of Shares in connection
with its hedging activity hereunder in a manner that would, if Dealer were Issuer or an affiliated purchaser of Issuer, be compliance with 

  

 19 

 
applicable legal and regulatory requirements. In the event Dealer postpones the Expiration Date for any Component, the duration of such postponement shall be
the shortest period of time that Dealer determines, in its reasonable discretion, is appropriate to comply with the standards set forth in the preceding sentence. 
 (m) No Netting and Set-off. The provisions of Section 2(c) of the Agreement shall not apply to the Transaction. Each party waives any and all rights it may have to set-off delivery or payment obligations
it owes to the other party under the Transaction against any delivery or payment obligations owed to it by the other party, whether arising under the Agreement, under any other agreement between parties hereto, by operation of law or otherwise.

 (n) Delivery of Cash. For the avoidance of doubt, nothing in this Confirmation shall be interpreted as requiring the Issuer to
deliver cash in respect of the settlement of the Transaction, except in circumstances where the required cash settlement thereof is permitted for classification of the contract as equity by EITF 00-19 as in effect on the relevant Trade Date
(including, without limitation, where the Issuer so elects to deliver cash or fails timely to elect to deliver Shares or Share Termination Delivery Property in respect of such settlement). 
 (o) Payments by Dealer upon Early Termination. The parties hereby agree that, notwithstanding anything to the contrary herein, in the Definitions
or in the Agreement, following the payment of the Premium, in the event that an Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is designated with respect to the Transaction or the Transaction is
terminated or cancelled pursuant to Article 12 of the Equity Definitions and, as a result, Dealer would owe to Issuer an amount calculated under Section 6(e) of the Agreement or Article 12 of the Equity Definitions, such amount shall be deemed
to be zero. 
 (p) Governing Law. THE AGREEMENT, THIS CONFIRMATION AND ALL MATTERS ARISING IN CONNECTION WITH
THE AGREEMENT AND THIS CONFIRMATION SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT REFERENCE TO ITS CHOICE OF LAW DOCTRINE, OTHER THAN TITLE 14 OF THE NEW YORK GENERAL OBLIGATIONS
LAW). 
 (n) Waiver of Trial by Jury. EACH OF ISSUER AND DEALER HEREBY IRREVOCABLY WAIVES (ON ITS OWN
BEHALF AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS STOCKHOLDERS) ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE TRANSACTION
OR THE ACTIONS OF DEALER OR ITS AFFILIATES IN THE NEGOTIATION, PERFORMANCE OR ENFORCEMENT HEREOF. 
 (o) Submission to
Jurisdiction. THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE UNITED STATES COURT FOR THE SOUTHERN DISTRICT OF NEW YORK IN CONNECTION WITH ALL MATTERS RELATING HERETO
AND WAIVE ANY OBJECTION TO THE LAYING OF VENUE IN, AND ANY CLAIM OF INCONVENIENT FORUM WITH RESPECT TO, THESE COURTS. 
 (p)
Amendment. This Confirmation and the Agreement may not be modified, amended or supplemented, except in a written instrument signed by Issuer and Dealer. 
 (q) Counterparts. This Confirmation may be executed in several counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
 (r) Optional Warrants. Issuer hereby grants an option to Dealer to purchase up to 2,739,726 additional Warrants (the “Additional
Warrants”) to be issued by Issuer to Dealer on the same terms as set forth in this Confirmation. The option granted hereby will expire thirteen (13) calendar days after the Trade Date and may be exercised at any time (but not more than
once) upon notice by Dealer to Issuer setting forth the amount of Additional Warrants as to which Dealer is then exercising the option and the time and date of payment and delivery for such Additional Warrants. If Dealer exercises the option granted
hereby, the parties shall either enter into a new confirmation evidencing the Additional Warrants to be issued by Issuer to Dealer or amend this Confirmation to evidence such Additional Warrants. 
  

 20 

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

			
	Yours faithfully,
	
	GOLDMAN, SACHS & CO.
		
	By:	 	 /s/ Daniel W. Kopper

		 	Authorized Signatory

  

			
	Agreed and Accepted By:
	
	TERADYNE, INC.
		
	By:	 	 /s/ Gregory R. Beecher

	Name:	 	Gregory R. Beecher
	Title:	 	Vice President, Chief Financial Officer and Treasurer

 Annex A 
 For each Component of the Transaction, the Number of Warrants and Expiration Date is set forth below. 
  

					
	 Component Number
	  	Number of Warrants	  	 Expiration Date

	 1
	  	491,745.00	  	17 June 2014
	 2
	  	491,745.00	  	18 June 2014
	 3
	  	491,745.00	  	19 June 2014
	 4
	  	491,745.00	  	20 June 2014
	 5
	  	491,745.00	  	23 June 2014
	 6
	  	491,745.00	  	24 June 2014
	 7
	  	491,745.00	  	25 June 2014
	 8
	  	491,745.00	  	26 June 2014
	 9
	  	491,745.00	  	27 June 2014
	 10
	  	491,745.00	  	30 June 2014
	 11
	  	491,745.00	  	1 July 2014
	 12
	  	491,745.00	  	2 July 2014
	 13
	  	491,745.00	  	3 July 2014
	 14
	  	491,745.00	  	7 July 2014
	 15
	  	491,745.00	  	8 July 2014
	 16
	  	491,745.00	  	9 July 2014
	 17
	  	491,745.00	  	10 July 2014
	 18
	  	491,745.00	  	11 July 2014
	 19
	  	491,745.00	  	14 July 2014
	 20
	  	491,745.00	  	15 July 2014
	 21
	  	491,745.00	  	16 July 2014
	 22
	  	491,745.00	  	17 July 2014
	 23
	  	491,745.00	  	18 July 2014
	 24
	  	491,745.00	  	21 July 2014
	 25
	  	491,745.00	  	22 July 2014
	 26
	  	491,745.00	  	23 July 2014
	 27
	  	491,745.00	  	24 July 2014
	 28
	  	491,745.00	  	25 July 2014
	 29
	  	491,745.00	  	28 July 2014
	 30
	  	491,745.00	  	29 July 2014
	 31
	  	491,745.00	  	30 July 2014
	 32
	  	491,745.00	  	31 July 2014

					
	 Component Number
	  	Number of Warrants	  	 Expiration Date

	 33
	  	491,745.00	  	1 August 2014
	 34
	  	491,745.00	  	4 August 2014
	 35
	  	491,745.00	  	5 August 2014
	 36
	  	491,745.00	  	6 August 2014
	 37
	  	491,745.00	  	7 August 2014
	 38
	  	491,745.00	  	8 August 2014
	 39
	  	491,745.00	  	11 August 2014
	 40
	  	491,745.00	  	12 August 2014
	 41
	  	491,745.00	  	13 August 2014
	 42
	  	491,745.00	  	14 August 2014
	 43
	  	491,745.00	  	15 August 2014
	 44
	  	491,745.00	  	18 August 2014
	 45
	  	491,745.00	  	19 August 2014
	 46
	  	491,745.00	  	20 August 2014
	 47
	  	491,745.00	  	21 August 2014
	 48
	  	491,745.00	  	22 August 2014
	 49
	  	491,745.00	  	25 August 2014
	 50
	  	491,745.00	  	26 August 2014
	 51
	  	491,745.00	  	27 August 2014
	 52
	  	491,745.00	  	28 August 2014
	 53
	  	491,745.00	  	29 August 2014
	 54
	  	491,745.00	  	2 September 2014
	 55
	  	491,745.00	  	3 September 2014
	 56
	  	491,745.00	  	4 September 2014
	 57
	  	491,745.00	  	5 September 2014
	 58
	  	491,745.00	  	8 September 2014
	 59
	  	491,745.00	  	9 September 2014
	 60
	  	491,745.00	  	10 September 2014
	 61
	  	491,745.00	  	11 September 2014
	 62
	  	491,745.00	  	12 September 2014
	 63
	  	491,745.00	  	15 September 2014
	 64
	  	491,745.00	  	16 September 2014
	 65
	  	491,790.00	  	17 September 2014

  

 2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]