Document:

<PAGE>
                                                                     Exhibit 4.5

                      MINDSPEED TECHNOLOGIES, INC. WARRANT

                                                                   June 27, 2003

THE WARRANT AND THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND
MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES
LAWS OR PURSUANT TO AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF SUCH ACT AND SUCH LAWS.

                          MINDSPEED TECHNOLOGIES, INC.

                          COMMON STOCK PURCHASE WARRANT

                            Void after June 27, 2013

      MINDSPEED TECHNOLOGIES, INC. (the "COMPANY"), a Delaware corporation,
hereby certifies that for value received, CONEXANT SYSTEMS, INC., a Delaware
corporation, or its successors or assigns (the "HOLDER"), is entitled to
purchase, subject to the terms and conditions hereinafter set forth, at any time
during the Exercise Period (as hereinafter defined), Thirty Million (30,000,000)
fully paid and nonassessable shares of Common Stock (as hereinafter defined) at
an exercise price per share equal to the Exercise Price (as hereinafter
defined), subject to adjustment pursuant to the terms of this Warrant.

      This Warrant is issued pursuant to the Distribution Agreement (the
"DISTRIBUTION AGREEMENT"), dated as of the date hereof, between the Company and
Conexant Systems, Inc., and is subject to the terms thereof. Capitalized terms
used herein and not otherwise defined shall have the respective meanings
assigned to such terms in the Distribution Agreement. The Holder is entitled to
the rights and is subject to the obligations contained in the Registration
Rights Agreement, dated as of the date hereof, between the Company and Conexant
Systems, Inc. (as the same may be amended and supplemented from time to time,
the "REGISTRATION RIGHTS AGREEMENT") relating to this Warrant and the shares of
Common Stock issuable upon exercise of this Warrant.

      1.    DEFINITIONS. For the purposes of this Warrant, the following terms
            shall have the meanings indicated:

                                       1
<PAGE>
            "ADDITIONAL SHARES OF COMMON STOCK" shall have the meaning ascribed
to such term in Section 5(c) of this Warrant.

            "AMEX" means the American Stock Exchange.

            "BUSINESS DAY" shall mean any day other than a Saturday, Sunday or
other day when banks are authorized or required by law to be closed in
California or New York.

            "CAPITAL REORGANIZATION" shall have the meaning ascribed to such
term in Section 8 of this Warrant.

            "CHANGE OF CONTROL" shall have the meaning ascribed to that term in
the Bylaws of the Company as in effect at the Time of Distribution.

            "CLOSING PRICE" shall mean, with respect to each share of Common
Stock for any day, (a) the last reported sale price regular way or, in case no
such sale takes place on such day, the average of the closing bid and asked
prices regular way, in either case as reported on the principal national
securities exchange on which the Common Stock is listed or admitted for trading
or (b) if the Common Stock is not listed or admitted for trading on any national
securities exchange, the last reported sale price or, in case no such sale takes
place on such day, the average of the highest reported bid and the lowest
reported asked quotation for the Common Stock, in either case as quoted on the
NASDAQ National Market System or the NASDAQ Small Cap Market or (c) if the
Common Stock is not listed or admitted for trading on any national securities
exchange or quoted on the NASDAQ National Market System or the NASDAQ Small Cap
Market, the last reported sale price or, in case no such sale takes place on
such day, the average of the highest reported bid and the lowest reported asked
quotation for the Common Stock, in either case as reported on NASDAQ or a
similar service if NASDAQ is no longer reporting such information.

            "COMMON STOCK" means the common stock, par value $.01 per share, of
the Company, together with the associated preferred share purchase rights, any
class of stock resulting from successive changes or reclassification of such
Common Stock and any and all other shares of capital stock of the Company
without preference with respect to liquidity distributions and entitled to
unlimited liquidation rights.

            "COMPANY" shall have the meaning ascribed to such term in the first
paragraph of this Warrant.

            "CONVERTIBLE SECURITIES" shall have the meaning ascribed to such
term in Section 5(b) of this Warrant.

            "CURRENT MARKET PRICE PER SHARE" shall have the meaning ascribed to
such term in Section 3(f) of this Warrant.

            "DISTRIBUTION AGREEMENT" shall have the meaning ascribed to such
term in the second paragraph of this Warrant.

                                       2
<PAGE>
            "EFFECTIVE PRICE " shall have the meaning ascribed to such term in
Section 5(c) of this Warrant.

            "ELECTION TO PURCHASE SHARES" shall have the meaning ascribed to
such term in Section 2(a) of this Warrant.

            "EXCLUDED ISSUANCE" shall mean (i) shares of Common Stock and/or
options, warrants or other Common Stock purchase rights issued and the Common
Stock issued pursuant to such options, warrants or other rights after the date
hereof to employees, officers or directors of, or consultants or advisors to the
Company or any subsidiary pursuant to stock purchase or stock option plans or
other arrangements that are approved by the Board of Directors; provided that
such shares, options, warrants or other Common Stock purchase rights shall not
be Excluded Issuances in any case where the grantee acquires the shares, or
options, warrants or other rights to purchase Common Stock at a price per share
less than the Closing Price on the date of grant other than in connection with
adjustments to outstanding options to purchase shares of Conexant Systems, Inc.
as a result of the Distribution; and (ii) shares of Common Stock issued pursuant
to the exercise of rights, options, warrants or convertible securities
outstanding as of the date hereof.

            "EXERCISE DATE" shall have the meaning ascribed to such term in
Section 2(d) of this Warrant.

            "EXERCISE PERIOD" shall mean the period beginning on (x) the first
to occur of (i) the receipt of notice pursuant to Section 7 of this Warrant of
the occurrence of any of the events described in Section 7(b) or 7(c) of this
Warrant or (ii) the first anniversary of the date hereof and ending on (y) the
Expiration Date.

            "EXERCISE PRICE" shall mean the average of the daily volume weighted
average price per share of the Common Stock for the ten consecutive Trading Days
immediately following the Distribution Date, which is $3.4080, subject to
adjustment pursuant to Section 3 or 5 of this Warrant.

            "EXPIRATION DATE" shall mean 5:00 PM, California time, on June 27,
2013.

            "FIRST DILUTIVE ISSUANCE" shall have the meaning ascribed to such
term in Section 5(d).

            "HOLDER" shall have the meaning ascribed to such term in the first
paragraph of this Warrant and in Section 14(a) of this Warrant.

            "NASDAQ" shall mean the Automatic Quotation System of the National
Association of Securities Dealers, Inc.

            "OFFICER'S CERTIFICATE" shall mean a certificate signed by the Chief
Executive Officer, the Chief Financial Officer or the Treasurer of the Company.

            "PAYMENT DATE" shall have the meaning ascribed to such term in
Section 3(c).

                                       3
<PAGE>
            "PERSON" shall mean any individual, firm, corporation, limited
liability company, partnership, trust, incorporated or unincorporated
association, joint venture, joint stock company, government (or an agency or
political subdivision thereof) or other entity of any kind, and shall include
any successor (by merger or otherwise) of such entity.

            "PURCHASE PRICE" shall have the meaning ascribed to such term in
Section 2(a) of this Warrant.

            "QUALIFYING DILUTIVE ISSUANCE" shall have the meaning ascribed to
such term in Section 5(a) of this Warrant.

            "REGISTRATION RIGHTS AGREEMENT" shall have the meaning ascribed to
such term in the second paragraph of this Warrant.

            "SECURITIES ACT" has the meaning ascribed to such term in Section
9(a) of this Warrant.

            "SUBSEQUENT DILUTIVE ISSUANCE" shall have the meaning ascribed to
such term in Section 5(d) of this Warrant.

            "SUBSIDIARY" shall mean, with respect to any Person, a corporation
or other entity of which 50% or more of the voting power of the voting equity
securities or equity interests is owned, directly or indirectly, by such Person.

            "TENDER EXPIRATION DATE" shall have the meaning ascribed to such
term in Section 3(d) of this Warrant.

            "TRADING DAY" shall mean, with respect to any security, each Monday,
Tuesday, Wednesday, Thursday and Friday, other than any day on which securities
are not generally traded on the principal exchange or market in which such
security is traded.

            "WARRANT" shall mean this Warrant and any subsequent Warrant issued
pursuant to the terms of this Warrant.

            "WARRANT REGISTER" shall have the meaning ascribed to such term in
Section 14(c) of this Warrant.

            "WARRANT SHARES" shall mean the shares of Common Stock issuable upon
exercise of this Warrant pursuant to Section 2(a) of this Warrant, without
regard to the last sentence thereof.

      2. EXERCISE OF WARRANT.

            (a) Exercise. This Warrant may be exercised, at any time and from
time to time during the Exercise Period (in whole or in part) by surrendering to
the Company at its principal office, this Warrant with an Election to Purchase
Shares (the "ELECTION TO PURCHASE SHARES") in the form attached hereto as
Exhibit A duly executed by the Holder and accompanied by payment equal to the
Exercise Price multiplied by the number of Warrant Shares for which this Warrant
is

                                       4
<PAGE>
being exercised at such time (the "PURCHASE PRICE"). Notwithstanding anything
contained herein, a Holder may not exercise this Warrant to the extent that such
exercise would result in such Holder owning at any one time more than 10% of the
then outstanding shares of Common Stock.

            (b) Delivery of Shares; Payment of Purchase Price. As soon as
practicable after surrender of this Warrant and receipt of the Purchase Price,
the Company shall promptly issue and deliver to the Holder a certificate or
certificates for the number of Warrant Shares for which this Warrant is being
exercised, in such name or names as may be designated by such Holder, along with
a check for the amount of cash to be paid in lieu of issuance of fractional
shares, if any. Payment of the Purchase Price may be made as follows (or by any
combination of the following): (i) in United States currency by cash or delivery
of a certified check, wire transfer, bank draft or postal or express money order
payable to the order of the Company, or (ii) by surrender of a number of shares
of Common Stock held by the Holder equal to the quotient obtained by dividing
(A) the Purchase Price by (B) the Closing Price on the Exercise Date.

            (c) Alternative Cashless Exercise. Notwithstanding any provision
herein to the contrary, in lieu of exercising this Warrant as set forth above,
if the Closing Price on the Exercise Date exceeds the Exercise Price, the Holder
may exercise this Warrant by electing to receive that number of Warrant Shares
as determined below by surrendering to the Company at its principal office, this
Warrant with the applicable Election to Purchase Shares duly executed by the
Holder and marked to reflect the cashless exercise of this Warrant, in which
event the Company shall issue to the Holder the number of shares of Common Stock
computed using the following formula:

                                CS = WS x (CP-EP)
                                     ------------
                                       CP

where:

      CS    equals the number of the Warrant Shares to be issued to the Holder

      WS    equals the number of Warrant Shares to be purchased as set forth in
            the applicable Election to Purchase Shares

      CP    equals the Closing Price on the Exercise Date

      EP    equals the Exercise Price

Following the surrender of this Warrant pursuant to this Subsection 2(c), the
Company shall promptly issue and deliver to the Holder a certificate or
certificates for that number of Warrant Shares to be issued to the Holder as
calculated above, in such name or names as may be designated by such Holder.

            (d) When Exercise Effective. The exercise of this Warrant shall be
deemed to have been effective immediately prior to the close of business on the
Business Day on which this Warrant is exercised in accordance with the
provisions of this Section 2 (the "EXERCISE DATE") and the Person in whose name
any certificate for shares of Common Stock shall be issuable upon

                                       5
<PAGE>
such exercise, as provided in Subsection 2(b), shall be deemed to be the record
holder of such shares of Common Stock for all purposes on the Exercise Date.

            (e) Warrant Shares Fully Paid, Nonassessable. The Company shall take
all actions necessary to ensure that following exercise of this Warrant in
accordance with the provisions of this Section 2, the Warrant Shares issued
hereunder shall, without further action by the Holder, be fully paid and
nonassessable.

            (f) Continued Validity. A holder of shares of Common Stock issued
upon the exercise of this Warrant, in whole or in part, shall continue to be
entitled to all of the rights and subject to all of the obligations set forth in
Section 14.

            (g) Exercise in Part. In connection with any exercise of this
Warrant for less than all remaining Warrant Shares, the Company shall, at the
time of the delivery of the stock certificate or certificates relating to any
such exercise, deliver to the Holder a new Warrant evidencing the right to
purchase the remaining Warrant Shares called for by this Warrant, which new
Warrant shall in all other respects be identical to this Warrant.

      3. ADJUSTMENT OF EXERCISE PRICE. The Exercise Price shall be adjusted from
time to time upon the occurrence of the following events:

            (a) Common Stock Distributions, etc. In case the Company shall (i)
pay a dividend or make a distribution on its Common Stock in shares of Common
Stock, (ii) split or otherwise subdivide its outstanding Common Stock into a
greater number of shares or (iii) combine its outstanding Common Stock into a
smaller number of shares, the Exercise Price in effect immediately prior thereto
shall be adjusted so that the price shall equal the price determined by
multiplying the Exercise Price in effect immediately prior to such event by a
fraction, of which (x) the numerator shall be the number of shares of Common
Stock outstanding immediately prior to such event and (y) the denominator shall
be the number of shares of Common Stock outstanding immediately after such
event. An adjustment made pursuant to this subsection (a) shall become effective
immediately after the record date in the case of a dividend or distribution and
shall become effective immediately after the effective date in the case of
subdivision or combination.

            (b) Rights, Options or Warrants Issuances. In case the Company shall
issue rights, options or warrants to all or substantially all holders of its
Common Stock entitling them (for a period commencing no earlier than the record
date described below and expiring not more than 60 days after such record date)
to subscribe for or purchase shares of Common Stock (or securities convertible
into Common Stock) at a price per share (or having an initial conversion price
per share) less than the Current Market Price Per Share on the record date for
the determination of stockholders entitled to receive such rights or warrants,
the Exercise Price in effect immediately prior thereto shall be adjusted so that
the same shall equal the price determined by multiplying the Exercise Price in
effect immediately prior to such record date by a fraction, of which (x) the
numerator shall be the number of shares of Common Stock outstanding on such
record date plus the number of shares of Common Stock that the aggregate
offering price of the total number of shares of Common Stock so offered (or the
aggregate initial conversion price of the convertible securities so offered,
which shall be determined by multiplying the number of

                                       6
<PAGE>
shares of Common Stock issuable upon exercise of such convertible securities by
the initial conversion price per share of Common Stock pursuant to the terms of
such convertible securities) would purchase at the Current Market Price Per
Share on such record date, and (y) the denominator shall be the number of shares
of Common Stock outstanding on such record date plus the number of additional
shares of Common Stock offered (or into which the convertible securities so
offered are convertible); provided, however, that no adjustment shall be made if
the Company issues or distributes to the Holder the rights, options or warrants
which the Holder would have been entitled to receive had this Warrant been
exercised prior to the record date. Any such adjustment shall be made
successively whenever any such rights, options or warrants are issued, and shall
become effective immediately after the applicable record date therefor unless
such rights, options or warrants are not immediately exercisable, in which case,
any such adjustments shall be made at the time such rights, options or warrants
become exercisable.

            (c) Distributions Other Than Common Stock. If the Company after the
date hereof shall issue or distribute to all or substantially all holders of any
class of Common Stock evidences of its indebtedness, cash or other assets,
shares of capital stock of any class or any other securities or rights, options
or warrants to subscribe therefor (excluding (i) shares of Common Stock referred
to in subsection (a)(i) of this Section 3, (ii) those rights, options or
warrants referred to in subsection (b) of this Section 3 and (iii) the
distribution of rights to all holders of Common Stock pursuant to the adoption
of a stockholders' rights plan or the detachment of such rights under the terms
of such stockholders' rights plan), in each such case this Warrant shall
evidence the right to receive following the date on which such distribution
occurs (the "PAYMENT DATE"), upon its exercise, in addition to the Warrant
Shares deliverable upon such exercise, the kind and amount of indebtedness,
cash, or other assets, shares of capital stock, other securities or subscription
rights therefor described above that the Holder would have been entitled to
receive upon such distribution had the Holder exercised this Warrant immediately
prior to such distribution.

            (d) Tender Offers. (1) In case a tender offer (other than an odd lot
tender offer) by the Company for Common Stock is consummated at a price in
excess of the Closing Price of the Common Stock subject to such tender offer at
the expiration of such tender offer (the "TENDER EXPIRATION DATE"), the Exercise
Price in effect immediately prior thereto shall be adjusted to a price
determined by multiplying such Exercise Price by a fraction, of which (i) the
numerator shall be such Closing Price, less the amount of the excess of the
value of the tender offer price over the Closing Price, and (ii) the denominator
shall be the Closing Price, such adjustment to become effective immediately
prior to the opening of business on the day following such date of expiration.

                (2) For purposes of this Subsection 3(d), the term "tender
offer" shall mean and include both tender offers and exchange offers (within the
meaning of United States federal securities laws), all references to purchases
of shares in tender offers (and all similar references) shall mean and include
both the purchase of shares in tender offers and the acquisition of shares
pursuant to exchange offers, and all references to tendered shares (and all
similar references) shall mean and include shares tendered in both tender offers
and exchange offers.

            (e) For purposes of Subsections 3(a), 3(b) and 3(c), any dividend or
distribution to which Subsection 3(c) is applicable that also includes shares of
Common Stock, a subdivision of

                                       7
<PAGE>
Common Stock or a combination of Common Stock to which Subsection 3(a) applies,
or rights, options or warrants to subscribe for or purchase shares of Common
Stock to which Subsection 3(b) applies (or any combination thereof), shall be
deemed instead to be:

                (i) first, a dividend or distribution of the evidences of
indebtedness, cash, other assets, shares of capital stock, other securities or
subscription rights, other than such shares of Common Stock, such subdivision or
combination or such rights, options or warrants to which Subsections 3(a) and
3(b) apply, respectively, immediately followed by

                (ii) second, a dividend or distribution of such shares of Common
Stock, such subdivision or combination or such rights, options or warrants to
which Subsections 3(a) and 3(b) apply (and any further Exercise Price reduction
required by Subsections 3(a) and 3(b) with respect to such dividend or
distribution shall then be made).

            (f) Current Market Price Per Share. For the purpose of any
computation under subsection (b) of this Section 3 or Section 5, the current
market price per share of Common Stock (the "CURRENT MARKET PRICE PER SHARE") on
any date shall be deemed to be the average of the daily Closing Prices for the
30 consecutive Trading Days commencing 45 Trading Days before the such date.

            (g) Deferral of Issuance. In any case in which this Section 3 shall
require that an adjustment be made following a record date or a Payment Date or
Tender Expiration Date, as the case may be, established for purposes of this
Section 3, the Company may elect to defer (but only until five Business Days
following the filing by the Company with the Holder of the certificate described
in Section 5) issuing to the Holder of any Warrant exercised after such record
date or Payment Date or Tender Expiration Date the shares of Common Stock and
other capital stock of the Company issuable upon such exercise over and above
the shares of Common Stock and other capital stock of the Company issuable upon
such exercise only on the basis of the Exercise Price prior to adjustment; and,
in lieu of the shares the issuance of which is so deferred, the Company shall
issue or cause its transfer agent to issue due bills or other appropriate
evidence prepared by the Company of the right to receive such shares. If any
distribution in respect of which an adjustment to the Exercise Price is required
to be made as of the record date or Payment Date or Tender Expiration Date
therefor is not thereafter made or paid by the Company for any reason, the
Exercise Price shall be readjusted to the Exercise Price which would then be in
effect if such record date had not been fixed or such effective date or Payment
Date or Tender Expiration Date had not occurred.

            (h) No Adjustment. No adjustment in the Exercise Price shall be
required unless the adjustment would require an increase or decrease of at least
1% in the Exercise Price as last adjusted; provided, however, that any
adjustments which by reason of this Section 3(h) are not required to be made
shall be carried forward and taken into account in any subsequent adjustment.
All calculations under this Section 3 shall be made to the nearest cent or to
the nearest one-hundredth of a share, as the case may be.

            No adjustment need be made for issuances of Common Stock pursuant to
a Company plan for reinvestment of dividends or interest or for a change in the
par value or a change to no par value of the Common Stock.

                                       8
<PAGE>
            (i) Adjustment for Tax Purposes. The Company shall be entitled to
make such reductions in the Exercise Price, in addition to those required by
Section 3, as it in its discretion shall determine to be advisable in order that
any stock dividends, subdivisions of shares, distributions of rights to purchase
stock or securities or distributions of securities convertible into or
exchangeable for stock hereafter made by the Company to its stockholders shall
not be taxable.

      4. ADJUSTMENT OF NUMBER OF SHARES PURCHASABLE. Upon any adjustment of the
Exercise Price as provided in Section 3 or 5, the number of shares subject to
this Warrant shall be adjusted so that the Holder shall thereafter be entitled
to purchase, at the Exercise Price resulting from such adjustment, the number of
shares of Common Stock (calculated to the nearest 1/100th of a share) obtained
by multiplying the Exercise Price in effect immediately prior to such adjustment
by the number of Warrant Shares purchasable hereunder (whether or not the
Exercise Period has commenced) immediately prior to such adjustment and dividing
the product thereof by the Exercise Price resulting from such adjustment.

      5. SALE OF SHARES BELOW CURRENT MARKET PRICE.

            (a) If at any time or from time to time after the date hereof, the
Company issues or sells, or is deemed by the express provisions of this Section
5 to have issued or sold, Additional Shares of Common Stock, other than as
provided in Section 3, 5 or 8, for an Effective Price (as defined below) less
than the Current Market Price Per Share (such issue, a "QUALIFYING DILUTIVE
ISSUANCE"), then and in each such case, the then effective Exercise Price shall
be reduced, effective as of the opening of business on the date of such issuance
or sale (or if earlier, the date on which a binding agreement providing for such
issuance or sale was entered into), to a price determined by multiplying the
Exercise Price in effect immediately prior to such issuance or sale by a
fraction, of which:

            (i) the numerator shall be (A) the number of shares of Common Stock
      outstanding immediately prior to such issue or sale, plus (B) the number
      of shares of the class of Common Stock being issued or sold or deemed to
      be issued or sold which the aggregate consideration received by the
      Company for the total number of Additional Shares of Common Stock so
      issued or deemed to be so issued would purchase at the Current Market
      Price Per Share, and

                                       9
<PAGE>
            (ii) the denominator shall be the number of shares of Common Stock
      outstanding immediately prior to such issue or sale plus the total number
      of Additional Shares of Common Stock so issued or sold or deemed to be so
      issued or sold.

            (b) For the purpose of the adjustment required under this Section 5,
if the Company issues or sells (x) stock or other securities convertible into,
shares of Common Stock (such convertible stock or securities being herein
referred to as "CONVERTIBLE SECURITIES") or (y) rights, options or warrants to
purchase shares of Common Stock or Convertible Securities and if the Effective
Price of such shares of Common Stock is less than the Current Market Price Per
Share, in each case the Company shall be deemed to have issued at the time of
the issuance of such rights, options or warrants or Convertible Securities the
maximum number of Additional Shares of Common Stock issuable upon exercise or
conversion thereof and to have received as consideration for the issuance of
such shares an amount equal to the total amount of the consideration, if any,
received by the Company for the issuance or sale of such rights, options or
warrants or Convertible Securities plus the minimum amounts of consideration, if
any, payable to the Company upon the exercise or conversion of such rights,
options or warrants or Convertible Securities (other than by cancellation of
liabilities or obligations evidenced by such Convertible Securities); provided,
however, that (i) subject to subsection (d) below, if the minimum amounts of
such consideration cannot be ascertained, but are a function of antidilution or
similar protective clauses, the Company shall be deemed to have received the
minimum amounts of consideration without reference to such clauses; and (ii) if
the minimum amount of consideration payable to the Company upon the exercise or
conversion of such rights, options, warrants or Convertible Securities is
reduced over time or on the occurrence or non-occurrence of specified events
other than by reason of antidilution adjustments, the Effective Price shall be
recalculated using the figure to which such minimum amount of consideration is
reduced; provided, further, that if the minimum amount of consideration payable
to the Company upon the exercise or conversion of such rights, options, warrants
or Convertible Securities is subsequently increased, the Effective Price shall
be again recalculated using the increased minimum amount of consideration
payable to the Company upon the exercise or conversion of such rights, options,
warrants or Convertible Securities.

            No further adjustment of the Exercise Price, as adjusted upon the
issuance of such rights, options, warrants or Convertible Securities, shall be
made as a result of the actual issuance of Additional Shares of Common Stock
upon the exercise of any such rights, options or warrants or the conversion of
any such Convertible Securities. If any such rights, options or warrants or the
conversion privilege represented by any such Convertible Securities shall expire
without having been exercised, the Exercise Price as adjusted upon the issuance
of such rights, options, or warrants or Convertible Securities shall be
readjusted to the Exercise Price which would have been in effect had an
adjustment been made on the basis of only the Additional Shares of Common Stock,
if any, actually issued or sold on the exercise or conversion of such rights,
options, warrants or Convertible Securities, and on the basis that such
Additional Shares of Common Stock, if any, were issued or sold for the
consideration actually received by the Company upon such exercise or conversion
(other than by cancellation of liabilities or obligations evidenced by such
Convertible Securities), plus the consideration, if any, actually received by
the Company for the issue or sale of all such rights, options, warrants and
Convertible Securities,

                                       10
<PAGE>
whether or not exercised, provided that such readjustment shall not apply to
prior exercises of this Warrant.

            (c) For the purpose of making any adjustment to the Exercise Price
required under this Section 5, "ADDITIONAL SHARES OF COMMON STOCK" shall mean
all shares of Common Stock issued or sold by the Company or deemed to be issued
or sold pursuant to this Section 5 (including shares of Common Stock
subsequently reacquired or retired by the Company), other than any Excluded
Issuance. References to Common Stock in the preceding sentence shall mean all
shares of Common Stock issued or sold by the Company or deemed to be issued or
sold pursuant to this Section 5.

            The "EFFECTIVE PRICE" of Additional Shares of Common Stock shall
mean the quotient determined by dividing the total number of Additional Shares
of Common Stock issued or sold, or deemed to have been issued or sold, by the
Company under this Section 5, into the aggregate consideration received, or
deemed to have been received, by the Company for such issue under this Section
5, for such Additional Shares of Common Stock.

            (d) In the event that the Company issues or sells, or is deemed to
have issued or sold, Additional Shares of Common Stock in a Qualifying Dilutive
Issuance (the "FIRST DILUTIVE ISSUANCE"), then in the event that the Company
issues or sells, or is deemed to have issued or sold, Additional Shares of
Common Stock in a Qualifying Dilutive Issuance other than the First Dilutive
Issuance (a "SUBSEQUENT DILUTIVE ISSUANCE") pursuant to the same instruments as
the First Dilutive Issuance, then and in each such case upon a Subsequent
Dilutive Issuance the Exercise Price shall be reduced to the Exercise Price that
would have been in effect had the First Dilutive Issuance and each Subsequent
Dilutive Issuance all occurred on the closing date of the First Dilutive
Issuance.

      6. NOTICE OF ADJUSTMENT. Whenever the Exercise Price, exercise privilege
or number of Warrant Shares shall be adjusted pursuant to the terms hereof, the
Company shall promptly mail to the Holder a notice of the adjustment (in
accordance with Section 18) and an Officer's Certificate briefly stating the
facts requiring the adjustment and the manner of computing it. Unless and until
the Holder shall receive an Officer's Certificate setting forth an adjustment of
the Exercise Price or the number of Warrant Shares, the Holder may assume
without inquiry that the Exercise Price and the number of Warrant Shares have
not been adjusted and that the last Exercise Price and number of Warrant Shares
of which it has knowledge remain in effect.

      7. NOTICE OF CERTAIN TRANSACTIONS. In the event that:

            (a) the Company takes any action which would require an adjustment
in the Exercise Price or the number of Warrant Shares;

            (b) the Company consolidates or merges with or into, or transfers
all or substantially all of its property and assets to, another corporation or
another corporation merges into the Company and, in each such case, stockholders
of the Company must approve the transaction; or

            (c) there is a dissolution or liquidation of the Company;

                                       11
<PAGE>
the Company shall mail to the Holder a notice in accordance with Section 18
stating the proposed record or effective date, as the case may be. The Company
shall mail the notice at least ten days before such date. Failure to mail such
notice or any defect therein shall not affect the validity of any transaction
referred to in subsections (a), (b) or (c) of this Section 7.

      8. EFFECT OF RECLASSIFICATION, CONSOLIDATION, MERGER OR SALE ON EXERCISE
PRIVILEGE. If any of the following shall occur, namely: (a) any reclassification
or change of shares of Common Stock issuable upon exercise of the Warrants
(other than a change in par value, or from par value to no par value, or from no
par value to par value, or as a result of a subdivision or combination, or any
other change for which an adjustment is provided in Section 3); (b) any
consolidation or merger or combination to which the Company is a party other
than a merger or consolidation in which the Company is the continuing
corporation and which does not result in any reclassification of, or change
(other than in par value, or from par value to no par value, or from no par
value to par value, or as a result of a subdivision or combination) in,
outstanding shares of Common Stock; or (c) any sale, conveyance, transfer or
lease of all or substantially all of the property or assets of the Company,
directly or indirectly, to any Person (any such event being called a "CAPITAL
REORGANIZATION"), upon the effective date of such Capital Reorganization, the
Holder shall have the right to receive, upon exercise of this Warrant, the kind
and amount of shares of stock and/or other securities and/or property (including
cash) which the Holder would have owned or have been entitled to receive after
such Capital Reorganization if this Warrant had been exercised immediately prior
to such Capital Reorganization, assuming the Holder (i) is not a person with
which the Company consolidated or into which the Company merged or which merged
into the Company or to which such sale or conveyance was made, as the case may
be ("constituent person"), or an affiliate of a constituent person and (ii)
failed to exercise his rights of election, if any, as to the kind or amount of
securities, cash or other property receivable upon such Capital Reorganization.
The provisions of this Section 8 shall similarly apply to successive Capital
Reorganizations. The Company shall not consummate any transaction that effects
or permits any such event or occurrence unless each Person whose shares of
stock, securities or assets will be issued, delivered or paid to the
stockholders (including the Company with respect to clause (ii) below), prior to
or simultaneously with the consummation of the transaction (i) is a corporation
organized and existing under the laws of the United States of America or any
State or the District of Columbia, and (ii) expressly assumes, or in the case of
the Company, acknowledges, by a subsequent Warrant or other document in a form
substantially similar hereto, executed and delivered to the Holder hereof, the
obligation to deliver to such Holder such shares of stock, securities or assets
as, in accordance with the foregoing provisions of this Section 8, such Holder
is entitled to purchase, and all other obligations and liabilities under this
Warrant, including obligations and liabilities in respect of subsequent
adjustments that are required under this Warrant.

      9. REPRESENTATIONS AND WARRANTIES OF HOLDER. In connection with the
issuance of this Warrant, and the Warrant Shares upon the exercise of this
Warrant, the Holder hereby makes the following representations and warranties to
the Company, effective as of the date hereof and upon each exercise of this
Warrant in whole or in part:

            (a) the Holder is an "accredited investor" as such term is defined
in Regulation D under the Securities Act of 1933, as amended (the "SECURITIES
ACT");

                                       12
<PAGE>
            (b) the Holder is acquiring the Warrant or the Warrant Shares, as
applicable, for the Holder's own account for investment and not with a view to,
or for sale in connection with, any distribution thereof in violation of the
Securities Act, nor with any present intention of distributing or selling the
same in violation of the Securities Act;

            (c) the Holder understands that the Warrant and the Warrant Shares
have not been registered under the Securities Act, in reliance upon exemptions
contained in the Securities Act and applicable regulations promulgated
thereunder or interpretations thereof, and cannot be offered for sale, sold or
otherwise transferred unless such sale or transfer is so registered or qualifies
for exemption from registration under the Securities Act, and that the
certificates representing such shares may bear a legend substantially in the
form set forth in Section 10 hereof; and

            (d) the Holder further understands that it may be required to hold
the Warrant and the Warrant Shares for an indefinite period of time unless the
Warrant and the Warrant Shares are subsequently registered under the Securities
Act or unless an exemption from registration is otherwise available.

      10. LEGEND.

            (a) The Holder agrees not to make any disposition of all or any part
of the Warrant or Warrant Shares except in accordance with Section 14 hereof and
unless and until:

                (i) The Holder shall be entitled to rely on an exemption from
registration under the Securities Act for such disposition; or

                (ii) There is then in effect a registration statement under the
Securities Act covering such proposed disposition and such disposition is made
in accordance with said registration statement.

            (b) The Holder understands and agrees that all certificates
evidencing Warrant Shares may bear the following legend:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR
PURSUANT TO AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH
ACT AND SUCH LAWS.

Such legend shall be removed by the Company at the request of the Holder in
connection with any sale which the Company reasonably determines to be pursuant
to an effective registration statement under the Securities Act or pursuant to a
valid exemption from the registration requirements of the Securities Act.

                                       13
<PAGE>
      11. FRACTIONAL SHARES. Notwithstanding any provision of this Warrant to
the contrary, the Company shall not be required to issue fractions of shares
upon exercise of this Warrant or to distribute certificates which evidence
fractional shares. In lieu of fractional shares, the Company may make payment to
the Holder, at the time of exercise of this Warrant as herein provided, of an
amount in cash equal to such fraction multiplied by the Closing Price on the
Exercise Date.

      12. NO DILUTION OR IMPAIRMENT. The Company will not, by amendment of its
Certificate of Incorporation or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities or any other
action, avoid or seek to avoid the observance or performance of any of the terms
of this Warrant, but will at all times in good faith assist in the carrying out
of all such terms and in the taking of all such action as may be necessary or
appropriate in order to protect the rights of the Holder of this Warrant against
dilution or other impairment. Without limiting the generality of the foregoing,
the Company (a) will not increase the par value of any shares of stock
receivable on the exercise of this Warrant above the amount payable therefor on
such exercise, (b) will at all times reserve and keep available the maximum
number of its authorized shares of Common Stock, free from all preemptive rights
therein, which will be sufficient to permit the full exercise of this Warrant,
and (c) will take all such action as may be necessary or appropriate in order
that all Warrant Shares will, upon issuance, be duly and validly issued, fully
paid and nonassessable, and free from all taxes, liens and charges with respect
to the issue thereof.

      13. REPLACEMENT OF WARRANTS. On receipt by the Company of an affidavit of
an authorized representative of the Holder stating the circumstances of the
loss, theft, destruction or mutilation of this Warrant (and in the case of any
such mutilation, on surrender and cancellation of such Warrant), the Company at
its expense will promptly execute and deliver, in lieu thereof, a new Warrant of
like tenor which shall be exercisable for a like number of Warrant Shares. If
required by the Company, such Holder must provide an indemnity bond or other
indemnity sufficient in the judgment of the Company to protect the Company from
any loss which it may suffer if a lost, stolen or destroyed Warrant is replaced.

      14. RESTRICTIONS ON TRANSFER.

            (a) Subject to the provisions of this Section 14, this Warrant may
be transferred or assigned, in whole or in part, by the Holder at any time and
from time to time, without the consent of the Company. The term "Holder" as used
herein shall also include any transferee of this Warrant whose name has been
recorded by the Company in the Warrant Register (as hereinafter defined). Each
transferee of the Warrant or the Common Stock issuable upon the exercise of the
Warrant acknowledges that neither the Warrant nor the Common Stock issuable upon
the exercise of the Warrant has been registered under the Securities Act and may
be transferred only pursuant to an effective registration under the Securities
Act or pursuant to an applicable exemption from the registration requirements of
the Securities Act.

            (b) With respect to a transfer that should occur prior to the time
that the Warrant or the Common Stock issuable upon the exercise thereof is
registered under the Securities Act, such Holder shall request an opinion of
counsel (which shall be rendered by counsel reasonably acceptable to the
Company) that the proposed transfer may be effected without registration or
qualification under any Federal or state securities or blue sky law. Counsel
shall, as promptly as

                                       14
<PAGE>
practicable, notify the Company and the Holder of such opinion and of the terms
and conditions, if any, to be observed in such transfer, whereupon the Holder
shall be entitled to transfer this Warrant or such shares of Common Stock (or
portion thereof), subject to any other provisions and limitations of this
Warrant. In the event this Warrant shall be exercised as an incident to such
transfer, such exercise shall relate back and for all purposes of this Warrant
be deemed to have occurred as of the date of such notice regardless of delays
incurred by reason of the provisions of this Section 13 which may result in the
actual exercise on any later date.

            (c) The Company shall maintain a register (the "WARRANT REGISTER")
in its principal office for the purpose of registering the Warrant and any
transfer thereof, which register shall reflect and identify, at all times, the
ownership of any interest in the Warrant. The Company may from time to time
designate a person authorized to register the transfer and exchange of the
Warrant on the Warrant Register as the warrant registrar (the "Warrant
Registrar"). The Company hereby initially appoints itself as Warrant Registrar.
Upon written notice to the Holder and any acting Warrant Registrar, the Company
may appoint a successor Warrant Registrar for such purposes. Upon the issuance
of this Warrant, the Company shall record the name of the initial holder of this
Warrant in the Warrant Register as the first Holder. Upon surrender for
registration of transfer or exchange of this Warrant together with a properly
executed Assignment in the form attached hereto as Exhibit B at the principal
office of the Company, the Company shall, at its expense, execute and deliver
one or more new Warrants of like tenor which shall be exercisable in the
aggregate for the total number of Warrant Shares, registered in the name of the
Holder or a transferee or transferees.

      15. NO RIGHTS OR LIABILITY AS A STOCKHOLDER. This Warrant does not entitle
the Holder hereof to any voting rights or other rights as a stockholder of the
Company. No provisions hereof, in the absence of affirmative action by the
Holder hereof to purchase Common Stock, and no enumeration herein of the rights
or privileges of the Holder shall give rise to any liability of such Holder as a
stockholder of the Company.

      16. CHARGES, TAXES AND EXPENSES. Issuance of certificates for shares of
Common Stock upon the exercise of this Warrant shall be made without charge to
the Holder hereof for any issue or transfer tax, or other incidental expense, in
respect of the issuance or delivery of such certificates or the securities
represented thereby, all of which taxes and expenses shall be paid by the
Company.

      17. AMENDMENT OR WAIVER. This Warrant and any term hereof may be amended,
waived, discharged or terminated only by and with the written consent of the
Company and the Holder.

      18. NOTICES. All notices, requests, claims, demands and other
communications required or permitted to be given hereunder will be in writing
and will be delivered by hand or telecopied, e-mailed or sent, postage prepaid,
by registered, certified or express mail or reputable overnight courier service
and will be deemed given when so delivered by hand or telecopied, when e-mail
confirmation is received if delivered by e-mail, or three Business Days after
being so mailed (one Business Day in the case of express mail or overnight
courier service). All such notices, requests, claims, demands and other
communications will be addressed as set forth below, or pursuant to such other
instructions as may be designated in writing by the party to receive such
notice:

                                       15
<PAGE>
            (a) If to Conexant:

                Conexant Systems, Inc.
                4311 Jamboree Road
                Newport Beach, California  92660-3095

                Attention:    Dwight W. Decker
                              Chairman of the Board and Chief Executive Officer
                Telecopy:     (949) 483-4318
                E-mail:       dwight.decker@conexant.com

                with a copy to:

                Conexant Systems, Inc.
                4311 Jamboree Road
                Newport Beach, California  92660-3095

                Attention:    Dennis E. O'Reilly, Esq.
                              Senior Vice President, General Counsel
                                and Secretary
                Telecopy:     (949) 483-9475
                E-mail:       dennis.o'reilly@conexant.com

            (b) If to the Company:

                Mindspeed Technologies, Inc.
                4000 MacArthur Boulevard
                Newport Beach, California 92660-3095

                Attention:    Raouf Y. Halim
                              Chief Executive Officer
                Telecopy:     (949) 579-6106
                E-mail:       raouf.halim@mindspeed.com

                with a copy to:

                Mindspeed Technologies, Inc.
                4000 MacArthur Boulevard
                Newport Beach, California 92660-3095

                Attention:    Simon Biddiscombe
                              Senior Vice President, Chief Financial Officer
                                and Treasurer
                Telecopy:     (949) 579-5289
                E-mail:       simon.biddiscombe@mindspeed.com

      19. CERTAIN REMEDIES. The Holder shall be entitled to an injunction or
injunctions to prevent breaches of the provisions of this Warrant and to enforce
specifically the terms and provisions of this Warrant in any court of the United
States or any state thereof having jurisdiction, this being in addition to any
other remedy to which such Holder may be entitled at law or in equity.

      20. GOVERNING LAW. This agreement shall be governed by, construed in
accordance with, and enforced under, the law of the State of Delaware applicable
to agreements or instruments entered into and performed entirely within such
State.

      21. HEADINGS. The headings in this Warrant are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

      22. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon the
Company and its successors and assigns.

                                       16
<PAGE>
                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       17
<PAGE>
                           [SIGNATURE PAGE TO WARRANT]

            IN WITNESS WHEREOF, the Company has caused this Warrant to be
executed by its duly authorized officer effective as of June 27, 2003.

                                             MINDSPEED TECHNOLOGIES, INC.

                                             By:  /s/ BRADLEY W. YATES
                                                 -------------------------------
                                                 Name: Bradley W. Yates
                                                 Title: Senior Vice President
                                                        and Chief Administrative
                                                        Officer

ACKNOWLEDGED AND ACCEPTED:

CONEXANT SYSTEMS, INC.

By:  /s/ DENNIS E. O'REILLY
    --------------------------------
    Name: Dennis E. O'Reilly
    Title: Senior Vice President,
           General Counsel and
           Secretary

                                       18
<PAGE>
                                                          Exhibit A to Common
                                                          Stock Purchase Warrant

                                    [FORM OF]

                           ELECTION TO PURCHASE SHARES

                  The undersigned hereby irrevocably elects to exercise the
Warrant to purchase _____ shares of Common Stock, par value $.01 per share
("Common Stock"), of MINDSPEED TECHNOLOGIES, INC. (the "Company") and hereby
[makes payment of $_______ therefor] [or] [makes payment therefor by
surrendering pursuant to Section 2(b)(ii) of the Warrant _____ shares of Common
Stock of the Company] [or] [makes payment therefor by cancellation pursuant to
Section 2(c) of the Warrant of a portion of the Warrant with respect to
_________ shares of Common Stock]. The undersigned hereby requests that
certificates for such shares be issued and delivered as follows:

ISSUE TO:
________________________________________________________________________________

(NAME)

________________________________________________________________________________

(ADDRESS, INCLUDING ZIP CODE)

________________________________________________________________________________

(SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER)

DELIVER TO:
________________________________________________________________________________

(NAME)

________________________________________________________________________________

(ADDRESS, INCLUDING ZIP CODE)
<PAGE>
                                                          Exhibit B to Common
                                                          Stock Purchase Warrant

                              [FORM OF] ASSIGNMENT

                  FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and
transfers unto the Assignee named below all of the rights of the undersigned to
purchase Common Stock, par value $.01 per share ("Common Stock"), of MINDSPEED
TECHNOLOGIES, INC. represented by the Warrant, with respect to the number of
shares of Common Stock set forth below:

Name of Assignee        Address           No. of Shares

and does hereby irrevocably constitute and appoint ____________________________
Attorney to make such transfer on the books of MINDSPEED TECHNOLOGIES, INC.
maintained for that purpose, with full power of substitution in the premises.

Dated:__________________________            CONEXANT SYSTEMS, INC.

                                            By: ________________________________
                                                Name:
                                                Title:<PAGE>

                                                                     Exhibit 4.6

                          MINDSPEED TECHNOLOGIES, INC.

                        WARRANTS TO PURCHASE COMMON STOCK

                          REGISTRATION RIGHTS AGREEMENT

                                                                   June 27, 2003

Conexant Systems, Inc.
4311 Jamboree Road
Newport Beach, California 92660-3095

Dear Sirs:

      Mindspeed Technologies, Inc., a Delaware corporation (the "COMPANY"),
proposes to issue and deliver to Conexant Systems, Inc., a Delaware corporation
("CONEXANT"), warrants (the "WARRANTS") to purchase up to thirty million
(30,000,000) shares of common stock, par value $.01 per share, together with the
associated preferred share purchase rights, of the Company (the "COMMON STOCK"),
in connection with the distribution of all outstanding Common Stock on a pro
rata basis to the holders of the common stock of Conexant (the "DISTRIBUTION").
In connection with the Distribution, the Company agrees with Conexant, for the
benefit of (i) Conexant and (ii) the holders of the Warrants and the Common
Stock issuable upon exercise of the Warrants (collectively, the "SECURITIES")
from time to time until such time as the Securities have been sold pursuant to a
Shelf Registration Statement (as defined below) (each of the forgoing, including
Conexant, a "HOLDER" and collectively, the "HOLDERS"), as follows:

      1. Shelf Registration. (a) The Company shall, at its cost, prepare and, as
promptly as practicable (but in no event more than 90 days after the date
hereof) file with the Securities and Exchange Commission (the "COMMISSION") and
thereafter use its reasonable best efforts to cause to be declared effective as
soon as practicable a registration statement on Form S-3 (the "SHELF
REGISTRATION STATEMENT") relating to: (i) the offer and resale of the Warrants;
(ii) the issuance by the Company of the Common Stock upon exercise of the
Warrants; and (iii) the offer and resale of the Common Stock issued or issuable
upon exercise of the Warrants (the "TRANSFER RESTRICTED SECURITIES") from time
to time in accordance with the methods of distribution set forth in the Shelf
Registration Statement and Rule 415 under the Securities Act of 1933, as amended
(the "SECURITIES ACT") (hereinafter, the "SHELF REGISTRATION"); provided,
however, that no Holder (other than Conexant) shall be entitled to have the
Securities held by it covered by the Shelf Registration Statement unless the
Holder agrees in writing to be bound by all the provisions of this Agreement
applicable to the Holder.

      (b) The Company shall use its reasonable best efforts to keep the Shelf
Registration Statement continuously effective in order to permit the prospectus
included
<PAGE>
therein (the "PROSPECTUS") to be lawfully delivered by the Holders of the
relevant Securities for a period beginning from the date of its effectiveness
and ending on June 27, 2013 (or for such longer period if extended pursuant to
Section 2(h)) or such shorter period that will terminate when all the Securities
covered by the Shelf Registration Statement (i) have been sold pursuant thereto
or (ii) are no longer restricted securities (as defined in Rule 144(k) under the
Securities Act, or any successor rule thereof) and, if Conexant is a Holder, it
is not then an affiliate of the Company (in any such case, such period being
called the "SHELF REGISTRATION PERIOD"). The Company shall be deemed not to have
used its reasonable best efforts to keep the Shelf Registration Statement
effective during the requisite period if it voluntarily takes any action that
would result in Holders of Securities covered thereby not being able to offer
and sell the Securities during that period, unless such action is (i) required
by applicable law or (ii) taken by the Company in good faith upon the occurrence
of any event contemplated by Section 2(b)(v), and the Company thereafter
complies with the requirements of Section 2(h).

      (c) Notwithstanding any other provisions of this Agreement to the
contrary, the Company shall cause the Shelf Registration Statement and the
Prospectus and any amendment or supplement thereto, as of the effective date of
the Shelf Registration Statement, amendment or supplement, (i) to comply in all
material respects with the applicable requirements of the Securities Act and the
rules and regulations of the Commission and (ii) not to contain any untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary in order to make the statements therein, in light of
the circumstances under which they were made, not misleading.

      2. Registration Procedures. In connection with the Shelf Registration
contemplated by Section 1, the following provisions shall apply:

      (a) The Company shall (i) furnish to Conexant, prior to the filing thereof
with the Commission, a copy of the Shelf Registration Statement and each
amendment thereof and each supplement, if any, to the Prospectus included
therein and, in the event that Conexant is participating in the Shelf
Registration Statement, shall use its reasonable best efforts to reflect in each
such document, when so filed with the Commission, such comments as Conexant
reasonably may propose; and (ii) include the names of the Holders who propose to
sell Securities pursuant to the Shelf Registration Statement as selling
securityholders.

      (b) The Company shall give written notice to the Holders of the Securities
(which notice pursuant to clauses (ii)-(v) shall be accompanied by an
instruction to suspend the use of the Prospectus until the requisite changes
have been made):

      (i) when the Shelf Registration Statement or any amendment thereto has
  been filed with the Commission and when the Shelf Registration Statement or
  any post-effective amendment thereto has become effective;

      (ii) of any request by the Commission for amendments or supplements to the
  Shelf Registration Statement or the Prospectus included therein or for
  additional information;

                                       2
<PAGE>
      (iii) of the issuance by the Commission of any stop order suspending the
  effectiveness of the Shelf Registration Statement or the initiation of any
  proceedings for that purpose;

      (iv) of the receipt by the Company or its legal counsel of any
  notification with respect to the suspension of the qualification of the
  Securities for sale in any jurisdiction or the initiation or threatening of
  any proceeding for such purpose; and

      (v) of the happening of any event that requires the Company to make
  changes in the Shelf Registration Statement or the Prospectus in order that
  the Shelf Registration Statement or the Prospectus does not contain an untrue
  statement of a material fact or omit to state a material fact required to be
  stated therein or necessary to make the statements therein (in the case of the
  Prospectus, in light of the circumstances under which they were made) not
  misleading, which written notice need not provide any detail as to the nature
  of such event.

      (c) The Company shall make every reasonable effort to obtain the
withdrawal at the earliest possible time of any order suspending the
effectiveness of the Shelf Registration Statement.

      (d) The Company shall furnish to each Holder of the Securities included
within the coverage of the Shelf Registration, without charge, at least one copy
of the Shelf Registration Statement and any post-effective amendment thereto,
including financial statements and schedules, and, if the Holder so requests in
writing, all exhibits thereto (including those, if any, incorporated by
reference).

      (e) The Company shall, during the Shelf Registration Period, deliver to
each Holder of Securities included within the coverage of the Shelf
Registration, without charge, as many copies of the Prospectus (including each
preliminary Prospectus) included in the Shelf Registration Statement and any
amendment or supplement thereto as such person may reasonably request. The
Company consents, subject to the provisions of this Agreement, to the use of the
Prospectus or any amendment or supplement thereto by each of the selling Holders
of the Securities in connection with the offering and sale of the Securities
covered by the Prospectus, or any amendment or supplement thereto, included in
the Shelf Registration Statement.

      (f) Prior to any public offering of the Securities pursuant to the Shelf
Registration Statement, the Company shall register or qualify or cooperate with
the Holders of the Securities included therein and their respective counsel in
connection with the registration or qualification of the Securities for offer
and sale under the securities or "blue sky" laws of such states of the United
States as any Holder of the Securities reasonably requests in writing and do any
and all other acts or things necessary or advisable to enable the offer and sale
in such jurisdictions of the Securities covered by the Shelf Registration
Statement; provided, however, that the Company shall not be required to (i)
qualify generally to do business in any jurisdiction where it is not then so
qualified

                                       3
<PAGE>
or (ii) take any action which would subject it to general service of process or
to taxation in any jurisdiction where it is not then so subject.

      (g) The Company shall cooperate with the Holders of the Securities to
facilitate the timely preparation and delivery of certificates representing the
Securities to be sold pursuant to any Shelf Registration Statement free of any
restrictive legends and in such denominations and registered in such names as
the Holders may request a reasonable period of time prior to sales of the
Securities pursuant to the Shelf Registration Statement.

      (h) Upon the occurrence of any event contemplated by paragraphs (ii)
through (v) of Section 2(b) during the period for which the Company is required
to maintain an effective Shelf Registration Statement, the Company shall as
required hereby prepare and file a post-effective amendment to the Shelf
Registration Statement or an amendment or supplement to the Prospectus and any
other required document so that, as thereafter delivered to the Holders or
purchasers of the Securities, the Prospectus will not contain an untrue
statement of a material fact or omit to state any material fact required to be
stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading; provided, however,
that the Company may delay filing and distributing any such supplement or
amendment (and continue the suspension of the use of the Prospectus) if the
Company determines in good faith that such supplement or amendment would, in the
reasonable judgment of the Company, (i) interfere with or affect the negotiation
or completion of a transaction that is being contemplated by the Company or (ii)
involve initial or continuing disclosure obligations that are not in the best
interests of the Company's stockholders at such time; provided, further, that
neither such delay nor such suspension shall extend for a period of more than 45
consecutive days or an aggregate of 90 days in any twelve-month period. If the
Company notifies the Holders in accordance with paragraphs (ii) through (v) of
Section 2(b) to suspend the use of the Prospectus until the requisite changes to
the Prospectus have been made, then the Holders shall suspend use of the
Prospectus, and the period of effectiveness of the Shelf Registration Statement
provided for in Section 1(b) shall be extended by the number of days from and
including the date of the giving of such notice to and including the date when
the Holders shall have received such amended or supplemented Prospectus pursuant
to this Section 2(h).

      (i) Not later than the effective date of the Shelf Registration Statement,
the Company will provide CUSIP numbers for the Warrants and the Common Stock
registered under the Shelf Registration Statement.

      (j) The Company will comply with all rules and regulations of the
Commission to the extent and so long as they are applicable to the Shelf
Registration and will make generally available to its security holders (or
otherwise provide in accordance with Section 11(a) of the Securities Act) an
earnings statement satisfying the provisions of Section 11(a) of the Securities
Act, no later than 45 days after the end of a 12-month period (or 90 days, if
such period is a fiscal year) beginning with the first month of the Company's
first fiscal quarter commencing after the effective date of the Shelf
Registration Statement, which statement shall cover such 12-month period.

                                       4
<PAGE>
      (k) Each Holder agrees, by acquisition of the Securities, that no Holder
shall be entitled to sell any such Securities pursuant to the Shelf Registration
Statement or to receive a Prospectus relating thereto, unless such Holder has
furnished the Company with a Notice and Questionnaire as required pursuant to
Section 2(l) and the information set forth in the next sentence. Each Holder
agrees promptly to furnish the Company all information required to be disclosed
in order to make the information previously furnished to the Company by such
Holder not misleading and any other information regarding such Holder and the
distribution of such Securities as the Company may from time to time reasonably
request.

      (l) Each Holder agrees that if such Holder wishes to sell such Holder's
Securities pursuant to the Shelf Registration Statement and related Prospectus,
it will do so in accordance with this Section 2(l). Each Holder wishing to sell
Securities pursuant to a Shelf Registration Statement and related Prospectus
agrees to deliver a properly completed and signed Notice and Questionnaire (the
form of which is attached as Annex A to this Agreement) to the Company at least
ten (10) business days prior to any intended distribution of Securities under
the Shelf Registration Statement. From and after the date the Shelf Registration
Statement is declared effective, the Company shall, as promptly as is
practicable after the date a Notice and Questionnaire is delivered, and in any
event within ten (10) business days after such date, (i) if required by law,
file with the Commission a post-effective amendment to the Shelf Registration
Statement or prepare and, if required by applicable law, file a supplement to
the related Prospectus or a supplement or amendment to any document incorporated
therein by reference or file any other required document so that the Holder
delivering such Notice and Questionnaire is named a selling securityholder in
the Shelf Registration Statement and the related Prospectus in such a manner as
to permit such Holder to deliver the Prospectus to purchasers of the Securities
in accordance with applicable law and, if the Company shall file a
post-effective amendment to the Shelf Registration Statement, use all reasonable
efforts to cause such post-effective amendment to be declared effective under
the Securities Act as promptly as practical, but in any event by the date that
is thirty (30) business days after the date such post-effective amendment is
required by this clause to be filed; (ii) provide the Holder copies of any
documents filed pursuant to this Section; and (iii) notify the Holder as
promptly as practicable after the effectiveness under the Securities Act of any
post-effective amendment filed pursuant to this Section; provided, that if such
Notice and Questionnaire is delivered during a period in which the use of the
Prospectus is suspended pursuant to Section 2(b), the Company shall so inform
the Holder delivering such Notice and Questionnaire and shall take the actions
set forth in clauses (i), (ii) and (iii) above upon expiration of such
suspension period. Notwithstanding anything contained herein to the contrary,
the Company shall be under no obligation to name any Holder that has not
supplied the requisite information required by this Section as a selling
securityholder in the Shelf Registration Statement and related Prospectus and
any amendment or supplement thereto; provided, however, that any Holder that has
subsequently supplied the requisite information required by this Section
pursuant to the provisions of this Section (whether or not the Holder has
supplied the requisite information required by this Section at the time the
Shelf Registration Statement was declared effective) shall be named as a selling
securityholder in the Shelf

                                       5
<PAGE>
Registration Statement or related Prospectus in accordance with the requirements
of this Section.

      (m) The Company shall enter into such customary agreements (including, if
requested, an underwriting agreement in customary form) and take all such other
actions, if any, as any Holder shall reasonably request in order to facilitate
the disposition of the Securities pursuant to the Shelf Registration; provided,
however, that the Company shall not be required to facilitate an underwritten
offering pursuant to a Shelf Registration Statement by any Holders unless the
offering relates to Securities having a fair market value of at least $10
million.

      (n) The Company shall (i) make reasonably available for inspection by the
Holders, any underwriter participating in any disposition pursuant to the Shelf
Registration Statement and any attorney, accountant or other agent retained by
the Holders or any such underwriter, all relevant financial and other records,
pertinent corporate documents and properties of the Company and (ii) cause the
Company's officers, directors, employees, accountants and auditors to supply all
relevant information reasonably requested by the Holders or any such
underwriter, attorney, accountant or agent in connection with the Shelf
Registration Statement, in each case, as shall be reasonably necessary to enable
such persons to conduct a reasonable investigation within the meaning of Section
11 of the Securities Act; provided, however, that the foregoing inspection and
information gathering shall be coordinated on behalf of the Holders by Conexant
(or by another representative designated by and on behalf of the Holders if
Conexant is not participating in the disposition) and on behalf of the other
parties, by one counsel designated by and on behalf of such other parties as
described in Section 3. The Holders shall hold, and shall cause any such
underwriter, and any attorney, accountant or other agent retained by the Holders
or any such underwriter to hold, in strict confidence any and all confidential
information received by them pursuant to this Section 2(n), exercising the same
care with respect to such information as it takes to preserve confidentiality
for its own similar information.

      (o) In the event of an underwritten offering, the Company shall use its
reasonable best efforts to cause (i) its counsel to deliver an opinion and
updates thereof relating to the Securities in customary form addressed to the
Holders and the managing underwriters, if any, thereof, and dated, in the case
of the initial opinion, the effective date of the Shelf Registration Statement
(it being agreed that the matters to be covered by such opinion shall include,
subject to customary assumptions and other qualifications, the due incorporation
and good standing of the Company and its subsidiaries; the qualification of the
Company and its subsidiaries to transact business as foreign corporations; the
due authorization, execution and delivery of the relevant agreement of the type
referred to in Section 2(m); the due authorization, execution, authentication
and issuance, and the validity and enforceability, of the Securities; the
absence of material legal or governmental proceedings involving the Company and
its subsidiaries; the absence of governmental approvals required to be obtained
in connection with the Shelf Registration Statement, the offering and sale of
the Securities, or any agreement of the type referred to in Section 2(m); the
compliance as to form of the Shelf Registration Statement and any documents
incorporated by reference therein with the requirements of the Securities Act,
and, as of the date of the opinion and as of the effective date of the Shelf
Registration Statement or most recent post-effective amendment thereto, as the
case may be, the absence from the Shelf Registration Statement and the
Prospectus included therein, as then amended or supplemented, and from any
documents incorporated by reference therein of an untrue statement of a material
fact or the omission to state therein a material

                                       6
<PAGE>
fact required to be stated therein or necessary to make the statements therein
not misleading (in the case of any such documents, in the light of the
circumstances existing at the time that such documents were filed with the
Commission under the Securities Exchange Act of 1934, as amended (the "EXCHANGE
ACT")); (ii) its officers to execute and deliver all customary documents and
certificates and updates thereof requested by any underwriters of the
Securities; and (iii) its independent public accountants and the independent
public accountants with respect to any other entity for which financial
information is provided in the Shelf Registration Statement to provide to the
selling Holders of the applicable Securities and any underwriter therefor a
comfort letter in customary form and covering matters of the type customarily
covered in comfort letters in connection with primary underwritten offerings,
subject to receipt of appropriate documentation as contemplated, and only if
permitted, by Statement of Auditing Standards No. 72.

      (p) The Company shall use its reasonable best efforts to take all other
steps necessary to effect the registration of the Securities covered by a Shelf
Registration Statement contemplated hereby.

      3. Registration Expenses. (a) The Company shall bear all fees and expenses
in connection with the performance of its obligations hereunder, whether a Shelf
Registration Statement is filed or becomes effective, and shall bear or
reimburse the Holders of Securities covered by the Shelf Registration Statement
for reasonable fees and disbursements of not more than one counsel, designated
by Conexant (for so long as Conexant is a Holder) or, if Conexant is no longer a
Holder, by the Holders of a majority in interest of the Securities covered by
the Shelf Registration Statement, in each case, to act as counsel for the
Holders in connection therewith.

      (b) In connection with any underwritten Shelf Registration Statement, the
participating Holders shall be responsible for the payment of any and all
underwriters and brokers and dealers discounts and selling commissions and such
discounts and commissions shall be borne by the participating Holders in
proportion to the number of Securities sold by such Holders.

      4. Indemnification. (a) The Company agrees to indemnify and hold harmless
each Holder and each person, if any, who controls the Holder within the meaning
of the Securities Act or the Exchange Act (each Holder, and such controlling
persons are referred to collectively as the "INDEMNIFIED PARTIES") from and
against any losses, claims, damages or liabilities, joint or several, or any
actions in respect thereof (including, but not limited to, any losses, claims,
damages, liabilities or actions relating to purchases and sales of the
Securities) to which each Indemnified Party may become subject under the
Securities Act, the Exchange Act or otherwise, insofar as such losses, claims,
damages, liabilities or actions arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in the Shelf
Registration Statement or Prospectus including any document incorporated by
reference therein, or in any amendment or supplement thereto or in any
preliminary Prospectus relating to the Shelf Registration, or arise out of, or
are based upon, the omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the

                                       7
<PAGE>
statements therein not misleading, and shall reimburse, as incurred, the
Indemnified Parties for any legal or other expenses reasonably incurred by them
in connection with investigating or defending any such loss, claim, damage,
liability or action in respect thereof; provided, however, that (i) the Company
shall not be liable in any such case to the extent that such loss, claim, damage
or liability arises out of or is based upon any untrue statement or alleged
untrue statement or omission or alleged omission made in the Shelf Registration
Statement or Prospectus or in any amendment or supplement thereto or in any
preliminary Prospectus relating to the Shelf Registration in reliance upon and
in conformity with written information pertaining to the Holder and furnished to
the Company by or on behalf of the Holder specifically for inclusion therein and
(ii) with respect to any untrue statement or omission or alleged untrue
statement or omission made in any preliminary Prospectus relating to the Shelf
Registration Statement, the indemnity agreement contained in this subsection (a)
shall not inure to the benefit of any Holder from whom the person asserting any
such losses, claims, damages or liabilities purchased the Securities concerned,
to the extent that a Prospectus relating to the Securities was required to be
delivered by the Holder under the Securities Act in connection with such
purchase and any such loss, claim, damage or liability of the Holder results
from the fact that there was not sent or given to such person, at or prior to
the written confirmation of the sale of the Securities to such person, a copy of
the final Prospectus if the Company had previously furnished copies thereof to
the Holder; provided further, however, that this indemnity agreement will be in
addition to any liability which the Company may otherwise have to the
Indemnified Party. The Company shall also indemnify underwriters, their officers
and directors and each person who controls such underwriters within the meaning
of the Securities Act or the Exchange Act to the same extent as provided above
with respect to the indemnification of the Holders of the Securities if
requested by the Holders.

      (b) Each Holder, severally and not jointly, will indemnify and hold
harmless the Company, its officers and directors and each person, if any, who
controls the Company within the meaning of the Securities Act or the Exchange
Act from and against any losses, claims, damages or liabilities or any actions
in respect thereof, to which the Company or any such controlling person may
become subject under the Securities Act, the Exchange Act or otherwise, insofar
as such losses, claims, damages, liabilities or actions arise out of or are
based upon any untrue statement or alleged untrue statement of a material fact
contained in the Shelf Registration Statement or Prospectus or in any amendment
or supplement thereto or in any preliminary Prospectus relating to the Shelf
Registration, or arise out of or are based upon the omission or alleged omission
to state therein a material fact necessary to make the statements therein not
misleading, but in each case only to the extent that the untrue statement or
omission or alleged untrue statement or omission was made in reliance upon and
in conformity with written information pertaining to the Holder and furnished to
the Company by or on behalf of the Holder specifically for inclusion therein;
and, subject to the limitation set forth immediately preceding this clause,
shall reimburse, as incurred, the Company for any legal or other expenses
reasonably incurred by the Company or any such controlling person in connection
with investigating or defending any loss, claim, damage, liability or action in
respect thereof. This indemnity agreement will be in addition to any liability
which the Holder may otherwise have to the Company or any of its controlling
persons.

                                       8
<PAGE>
      (c) Promptly after receipt by an indemnified party under this Section 4 of
notice of the commencement of any action or proceeding (including a governmental
investigation), such indemnified party will, if a claim in respect thereof is to
be made against the indemnifying party under this Section 4, notify the
indemnifying party of the commencement thereof; but the failure to notify the
indemnifying party shall not relieve it from any liability that it may have
under subsection (a) or (b) above except to the extent that it has been
materially prejudiced (through the forfeiture of substantive rights or defenses)
by such failure; and provided further that the failure to notify the
indemnifying party shall not relieve it from any liability that it may have to
an indemnified party otherwise than under subsection (a) or (b) above. In case
any such action is brought against any indemnified party, and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be
entitled to participate therein and, to the extent that it may wish, jointly
with any other indemnifying party similarly notified, to assume the defense
thereof, with counsel reasonably satisfactory to such indemnified party (who
shall not, except with the consent of the indemnified party, be counsel to the
indemnifying party), and after notice from the indemnifying party to such
indemnified party of its election so to assume the defense thereof the
indemnifying party will not be liable to such indemnified party under this
Section 4 for any legal or other expenses, other than reasonable costs of
investigation, subsequently incurred by such indemnified party in connection
with the defense thereof. No indemnifying party shall, without the prior written
consent of the indemnified party, effect any settlement of any pending or
threatened action in respect of which any indemnified party is or could have
been a party and indemnity could have been sought hereunder by such indemnified
party unless such settlement (i) includes an unconditional release of such
indemnified party from all liability on any claims that are the subject matter
of such action, and (ii) does not include a statement as to or an admission of
fault, culpability or a failure to act by or on behalf of any indemnified party.
No indemnified party shall effect any settlement of any pending or threatened
action without the prior written consent of the indemnifying party, which such
consent shall not be unreasonably withheld or delayed.

      (d) If the indemnification provided for in this Section 4 is unavailable
or insufficient to hold harmless an indemnified party under subsections (a) or
(b) above, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of the losses, claims, damages or
liabilities (or actions in respect thereof) referred to in subsection (a) or (b)
above (i) in such proportion as is appropriate to reflect the relative benefits
received by the indemnifying party or parties on the one hand and the
indemnified party on the other from the sale of the Securities, pursuant to the
Shelf Registration, or (ii) if the allocation provided by the foregoing clause
(i) is not permitted by applicable law, in such proportion as is appropriate to
reflect not only the relative benefits referred to in clause (i) above but also
the relative fault of the indemnifying party or parties on the one hand and the
indemnified party on the other in connection with the statements or omissions
that resulted in such losses, claims, damages or liabilities (or actions in
respect thereof) as well as any other relevant equitable considerations. The
relative fault of the parties shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by the Company on the one hand or the Holder or such other indemnified
party, as the case

                                       9
<PAGE>
may be, on the other, and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.
The amount paid by an indemnified party as a result of the losses, claims,
damages or liabilities referred to in the first sentence of this subsection (d)
shall be deemed to include any legal or other expenses reasonably incurred by
such indemnified party in connection with investigating or defending any action
or claim which is the subject of this subsection (d). Notwithstanding any other
provision of this subsection (d), the Holders shall not be required to
contribute any amount in excess of the amount by which the net proceeds received
by the Holders from the sale of the Securities pursuant to the Shelf
Registration Statement exceeds the amount of damages which the Holders have
otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. For purposes of this subsection (d), each person,
if any, who controls such indemnified party within the meaning of the Securities
Act or the Exchange Act shall have the same rights to contribution as such
indemnified party and each person, if any, who controls the Company within the
meaning of the Securities Act or the Exchange Act shall have the same rights to
contribution as the Company.

      (e) The agreements contained in this Section 4 shall survive the sale of
the Securities pursuant to the Shelf Registration Statement and shall remain in
full force and effect, regardless of any termination or cancellation of this
Agreement or any investigation made by or on behalf of any indemnified party.

      5. Rule 144. The Company shall use its reasonable best efforts to file the
reports required to be filed by it under the Securities Act and the Exchange Act
in a timely manner and, if at any time the Company is not required to file such
reports, it will, upon the request of any Holder, make publicly available other
information so long as necessary to permit sales of their securities pursuant to
Rule 144. The Company covenants that it will take such further action as any
Holder may reasonably request, all to the extent required from time to time to
enable the Holder to sell Transfer Restricted Securities without registration
under the Securities Act within the limitation of the exemptions provided by
Rule 144. The Company will provide a copy of this Agreement to prospective
purchasers of Securities identified to the Company by Conexant upon request.
Upon the request of any Holder, the Company shall deliver to the Holder a
written statement as to whether it has complied with such requirements.
Notwithstanding the foregoing, nothing in this Section 5 shall be deemed to
require the Company to register any of its securities pursuant to the Exchange
Act.

      6. Underwritten Registrations. If any of the Transfer Restricted
Securities covered by the Shelf Registration are to be sold in an underwritten
offering, the investment banker or investment bankers and manager or managers
that will administer the offering ("MANAGING UNDERWRITERS") will be selected by
the Holders of a majority in interest of the Transfer Restricted Securities to
be included in such offering and such selection shall be subject to the
Company's consent, which shall not be unreasonably withheld or delayed.

                                       10
<PAGE>
      No person may participate in any underwritten registration hereunder
unless such person (i) agrees to sell such person's Transfer Restricted
Securities on the basis reasonably provided in any underwriting arrangements
approved by the persons entitled hereunder to approve such arrangements and (ii)
completes and executes all questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents reasonably required under the terms
of such underwriting arrangements.

      7. Miscellaneous.

      (a) Remedies. The Company acknowledges and agrees that any failure by the
Company to comply with its obligations hereunder may result in material
irreparable injury to the Holders for which there is no adequate remedy at law,
that it will not be possible to measure damages for such injuries precisely and
that, in the event of any such failure, any Holder may obtain such relief as may
be required to specifically enforce the Company's obligations hereunder.

      (b) No Inconsistent Agreements. The Company will not on or after the date
of this Agreement enter into any agreement with respect to its securities that
is inconsistent with the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof. The rights granted to the
Holders hereunder do not in any way conflict with and are not inconsistent with
the rights granted to the holders of the Company's securities under any
agreement in effect on the date hereof.

      (c) Amendments and Waivers. The provisions of this Agreement may not be
amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, except in writing by the Company and by
the holders of a majority in interest of the Securities affected by such
amendment, modification, supplement, waiver or consents. Without the written
consent of each Holder of the Securities, however, no modification may change
the provisions relating to the Liquidated Damages Payment Amount.

      (d) Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand delivery, first-class mail,
facsimile transmission, or air courier which guarantees overnight delivery and
addressed as set forth below, or pursuant to such other instructions as may be
designated by the party for receipt of such notice:

      (1)   if to Conexant:

            Conexant Systems, Inc.
            4311 Jamboree Road
            Newport Beach, CA  92660-3095
            Fax No.: (949) 483-9475
            Attention:  Dennis E. O'Reilly
                        Senior Vice President, General
                        Counsel and Secretary

                                       11
<PAGE>
      (2) if to any other Holder of the Securities, at the most current address
given by the Holder to the Company;

      (3)   if to the Company:

            Mindspeed Technologies, Inc.
            4000 MacArthur Boulevard
            Newport Beach, California  92660-3095
            Fax No.: (949) 579-5289
            Attention: Simon Biddiscombe
                       Senior Vice President, Chief Financial
                       Officer and Treasurer

      All such notices and communications shall be deemed to have been duly
given at the time delivered by hand, if personally delivered; three business
days after being deposited in the mail, postage prepaid, if mailed; when receipt
is acknowledged by recipient's facsimile machine operator, if sent by facsimile
transmission; and on the day delivered, if sent by overnight air courier
guaranteeing next day delivery.

      (e) Third Party Beneficiaries. The other Holders shall be third party
beneficiaries to the agreements made hereunder between the Company, on the one
hand, and Conexant, on the other hand, and shall have the right to enforce such
agreements directly to the extent they may deem such enforcement necessary or
advisable to protect their rights or the rights of Holders hereunder.

      (f) Successors and Assigns. This Agreement shall be binding upon the
Company and its successors and assigns.

      (g) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

      (h) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

      (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES
OF CONFLICTS OF LAWS.

      By the execution and delivery of this Agreement, the Company submits to
the nonexclusive jurisdiction of any federal or state court in the City of New
York, State of New York.

      (j) Severability. If any one or more of the provisions contained herein,
or the application thereof in any circumstance, is held invalid, illegal or
unenforceable, the validity, legality and enforceability of any such provision
in every other respect and of the remaining provisions contained herein shall
not be affected or impaired thereby.

                                       12
<PAGE>
      (k) Securities Held by the Company. Whenever the consent or approval of
Holders of a specified percentage of principal amount of Securities is required
hereunder, Securities held by the Company or its affiliates (other than (i)
Conexant or (ii) subsequent Holders of Securities if such subsequent Holders are
deemed to be affiliates solely by reason of their holdings of the Securities)
shall not be counted in determining whether such consent or approval was given
by the Holders of such required percentage.

                                       13
<PAGE>
      If the foregoing is in accordance with your understanding of our
agreement, please sign and return to the Company a counterpart hereof, whereupon
this instrument, along with all counterparts, will become a binding agreement
between Conexant and the Company in accordance with its terms.

                              Very truly yours,

                              MINDSPEED TECHNOLOGIES, INC.

                              By: /s/ BRADLEY W. YATES
                                 ------------------------------------
                                 Name: Bradley W. Yates
                                 Title: Senior Vice President and Chief
                                          Administrative Officer

The foregoing Registration Rights
Agreement is hereby confirmed and
accepted as of the date first
above written.

CONEXANT SYSTEMS, INC.

By: /s/ DENNIS E. O'REILLY
   ---------------------------------
Name: Dennis E. O'Reilly
Title: Senior Vice President, General
         Counsel and Secretary

                                       14
<PAGE>
                                                                         ANNEX A
                          MINDSPEED TECHNOLOGIES, INC.

             FORM OF SELLING SECURITYHOLDER NOTICE AND QUESTIONNAIRE

      The undersigned is the beneficial holder of warrants (the "Warrants") to
purchase shares of common stock, par value $.01 per share, together with the
associated preferred share purchase rights (the "Common Stock"), of Mindspeed
Technologies, Inc., a Delaware corporation (the "Company"), or the Common Stock
issuable upon exercise of the Warrants. The Warrants and the Common Stock
issuable upon exercise of the Warrant are referred to, collectively, as the
"Registrable Securities". The undersigned understands that the Company has filed
or intends to file with the Securities and Exchange Commission (the
"Commission") a registration statement on Form S-3 (the "Shelf Registration
Statement") for the registration and resale under Rule 415 of the Securities Act
of 1933, as amended (the "Securities Act"), of the Registrable Securities in
accordance with the terms of the Registration Rights Agreement dated as of June
27, 2003 (the "Registration Rights Agreement") between the Company and Conexant
Systems, Inc., a Delaware corporation. A copy of the Registration Rights
Agreement is available from the Company upon request at the address set forth
below. All capitalized terms not otherwise defined herein have the meaning
ascribed thereto in the Registration Rights Agreement.

      Each beneficial owner of Registrable Securities is entitled to the
benefits of the Registration Rights Agreement. In order to sell or otherwise
dispose of any Registrable Securities pursuant to the Shelf Registration
Statement, a beneficial owner of Registrable Securities generally will be
required to be named as a selling securityholder in the related prospectus,
deliver a prospectus to purchasers of Registrable Securities and be bound by
those provisions of the Registration Rights Agreement applicable to such
beneficial owner (including certain indemnification provisions, as described
below). Beneficial owners are encouraged to complete and deliver this Notice and
Questionnaire prior to the effectiveness of the Shelf Registration Statement so
that such beneficial owners may be named as selling securityholders in the
related prospectus at the time of effectiveness.

      Certain legal consequences arise from being named as a selling
securityholder in the Shelf Registration Statement and the related prospectus.
Accordingly, holders and beneficial owners of Registrable Securities are advised
to consult their own securities law counsel regarding the consequences of being
named or not being named as a selling securityholder in the Shelf Registration
Statement and the related prospectus.

                                     NOTICE

      The undersigned beneficial owner (the "Selling Securityholder") of
Registrable Securities hereby gives notice to the Company of its intention to
sell or otherwise dispose of Registrable Securities beneficially owned by it and
listed below in Item 3 (unless otherwise specified under Item 3) pursuant to the
Shelf Registration Statement. The undersigned, by signing and returning this
Notice and Questionnaire, understands that it will be bound by the terms and
conditions of this Notice and Questionnaire and the Registration Rights
Agreement.

                                      A-1
<PAGE>
      The undersigned hereby provides the following information to the Company
and represents and warrants that such information is accurate and complete:

                                  QUESTIONNAIRE

1.    (a)   Full Legal Name of Selling Securityholder:

            --------------------------------------------------------------------

      (b)   Full Legal Name of Registered Holder (if not the same as (a) above)
            through which Registrable Securities listed in (3) below are held:

            --------------------------------------------------------------------

      (c)   Full Legal Name of DTC Participant (if applicable and if not the
            same as (b) above) through which Registrable Securities listed in
            (3) below are held:

            --------------------------------------------------------------------

2.    Address for Notices to Selling Securityholder:

      --------------------------------------------------------------------------

      --------------------------------------------------------------------------

      --------------------------------------------------------------------------

      Telephone:
                ----------------------------------------------------------------
      Fax:
            --------------------------------------------------------------------

            --------------------------------------------------------------------

      Contact Person:
                       ---------------------------------------------------------

3.    Beneficial Ownership of Registrable Securities:

      (a)   Type and Principal Amount of Registrable Securities beneficially
            owned:

            --------------------------------------------------------------------

            --------------------------------------------------------------------

      (b)   CUSIP No(s). of Registrable Securities beneficially owned:

            --------------------------------------------------------------------

            --------------------------------------------------------------------

                                      A-2
<PAGE>
4.    Beneficial Ownership of the Company's securities owned by the Selling
      Securityholder:

      Except as set forth below in this Item (4), the undersigned is not the
      beneficial or registered owner of any "Other Securities," defined as
      securities of the Company other than the Registrable Securities listed
      above in Item (3).

      (a)   Type and Amount of Other Securities beneficially owned by the
            Selling Securityholder:

            --------------------------------------------------------------------

            --------------------------------------------------------------------

      (b)   CUSIP No(s). of such Other Securities beneficially owned:

            --------------------------------------------------------------------

            --------------------------------------------------------------------

5.    Relationship with the Company:

      Except as set forth below, neither the undersigned nor any of its
      affiliates, officers, directors or principal equityholders (5% or more)
      has held any position or office or has had any other material relationship
      with the Company (or its predecessors or affiliates) during the past three
      years.

      State any exceptions here:

      --------------------------------------------------------------------------

      --------------------------------------------------------------------------

      --------------------------------------------------------------------------

6.    Plan of Distribution:

      Except as set forth below, the undersigned (including its donees or
      pledgees) intends to distribute the Registrable Securities listed above in
      Item (3) pursuant to the Shelf Registration Statement only as follows (if
      at all): Such Registrable Securities may be sold from time to time
      directly by the undersigned or alternatively, through underwriters,
      broker-dealers or agents. If the Registrable Securities are sold through
      underwriters or broker-dealers, the Selling Securityholder will be
      responsible for underwriting discounts or commissions or agent's
      commissions. Such Registrable Securities may be sold in one or more
      transactions at fixed prices, at prevailing market prices at the time of
      sale, at varying prices determined at the time of sale, or at negotiated
      prices. Such sales may be effected in transactions (which may involve
      block transactions) (i) on any national securities exchange or quotation
      service on which the Registrable Securities may be listed or quoted at the
      time of sale, (ii) in the over-the-counter market, (iii) in transactions
      otherwise than on such exchanges or services or in the over-the-counter
      market, or (iv) through the writing of options. In connection with sales
      of the Registrable Securities or otherwise, the undersigned may enter into
      hedging transactions with

                                      A-3
<PAGE>
      broker-dealers, which may in turn engage in short sales of the Registrable
      Securities and deliver Registrable Securities to close out such short
      positions, or loan or pledge Registrable Securities to broker-dealers that
      in turn may sell such securities.

      State any exceptions here:

      --------------------------------------------------------------------------

      --------------------------------------------------------------------------

      --------------------------------------------------------------------------

      The undersigned acknowledges that it understands its obligation to comply
with the provisions of the Securities Exchange Act of 1934, as amended, and the
rules thereunder relating to stock manipulation, particularly Regulation M
thereunder (or any successor rules or regulations), in connection with any
offering of Registrable Securities pursuant to the Shelf Registration Statement.
The undersigned agrees that neither it nor any person acting on its behalf will
engage in any transaction in violation of such provisions.

      The Selling Securityholder hereby acknowledges its obligations under the
Registration Rights Agreement to indemnify and hold harmless certain persons as
set forth therein.

      Pursuant to the Registration Rights Agreement, the Company has agreed
under certain circumstances to indemnify the Selling Securityholder against
certain liabilities.

      In accordance with the undersigned's obligation under the Registration
Rights Agreement to provide such information as may be required by law for
inclusion in the Shelf Registration Statement, the undersigned agrees to
promptly notify the Company of any inaccuracies or changes in the information
provided herein that may occur subsequent to the date hereof at any time while
the Shelf Registration Statement remains effective. All notices hereunder and
pursuant to the Registration Rights Agreement shall be made in writing at the
address set forth below.

      By signing below, the undersigned consents to the disclosure of the
information contained herein in its answers to items (1) through (6) above and
the inclusion of such information in the Shelf Registration Statement and the
related prospectus. The undersigned understands that such information will be
relied upon by the Company in connection with the preparation or amendment of
the Shelf Registration Statement and the related prospectus.

                                      A-4
<PAGE>
      IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused
this Notice and Questionnaire to be executed and delivered either in person or
by its duly authorized agent.

Dated:

                                    Beneficial Owner

                                    By:
                                       -----------------------------------------
                                       Name:
                                       Title:

      PLEASE RETURN THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE TO:

                          Mindspeed Technologies, Inc.
                            4000 MacArthur Boulevard
                      Newport Beach, California 92660-3095
                          Attention: Simon Biddiscombe
          Senior Vice President, Chief Financial Officer and Treasurer

                                      A-5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00056-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00056-of-00352.parquet"}]]