Document:

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                                                                        EX-4.3

                                 CERTICOM CORP.

                                STOCK OPTION PLAN

                          ARTICLE ONE - PURPOSE OF PLAN

     1.1  The purpose of the Plan is to assist directors, officers and
employees of the Corporation and its Subsidiaries and other persons to
participate in the growth and development of the Corporation and its
Subsidiaries by providing such persons with the opportunity, through share
options, to acquire an increased proprietary interest in the Corporation.

                           ARTICLE TWO - DEFINED TERMS

     2.1  DEFINITIONS

     Where used herein, the following terms shall have the following
meanings, respectively:

     (a)  "BOARD" means the board of directors of the Corporation or, if
          established and duly authorized to act, the Executive Committee of the
          board of directors of the Corporation;

     (b)  "BUSINESS DAY" means any day, other than a Saturday or a Sunday, on
          which The Toronto Stock Exchange is open for trading;

     (c)  "COMMITTEE" shall have the meaning attributed thereto in Article Three
          hereof;

     (d)  "CORPORATION" means Certicom Corp., and includes any successor
          corporation thereto;

     (e)  "ELIGIBLE PERSON" means any director or employee of the Corporation or
          any Subsidiary or any other person or corporation approved by the
          Committee;

     (f)  "MARKET PRICE" at any date in respect of Shares shall be the closing
          price of such Shares on such stock exchange in Canada on which such
          Shares are listed and posted for trading as may be selected for such
          purpose on the last Business Day preceding the date on which the
          Option is approved by the Committee. In the event that such Shares did
          not trade on such Business Day, the Market Price shall be the average
          of the bid and ask prices in respect of such Shares at the close of
          trading on such date. In the event that such Shares are not listed and
          posted for trading on any stock exchange, the Market Price in respect
          thereof shall be determined by the Committee in its sole discretion;

     (g)  "OPTION" means an option to purchase Shares granted under the Plan;

     (h)  "OPTION PRICE" means the price per share at which Shares may be
          purchase under the Option, as the same may be adjusted from time to
          time in accordance with Article Eight hereof;

     (i)  "OPTIONEE" means a person to whom an Option has been granted;

     (j)  "PLAN" means the Certicom Corp. Stock Option Plan, as embodied herein,
          as the same may be amended or varied from time to time;
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     (k)  "SHARES" means the common shares of the Corporation, or, in the event
          of an adjustment contemplated by Article Eight hereof, such other
          shares or securities to which an Optionee may be entitled upon the
          exercise of an Option as a result of such adjustment; and

     (l)  "SUBSIDIARY" means any corporation that is a subsidiary of the
          Corporation (as such term is defined in the Business Corporations Act
          (Ontario), as such provision is from time to time amended, varied or
          reenacted).

                   ARTICLE THREE - ADMINISTRATION OF THE PLAN

     3.1  The Plan shall be administered by a committee (the "Committee")
appointed by the Board and consisting of not less than three members of the
Board. The members of the Committee shall serve at the pleasure of the Board
and vacancies occurring in the Committee shall be filled by the Board.

     3.2  The Committee shall select one of its members as its Chairman and
shall hold its meetings at such time and place as it shall deem advisable. A
majority of the members of the Committee shall constitute a quorum and all
actions of the Committee shall be taken by a majority of the members present
at any meeting. Any action of the Committee may be taken by an instrument or
instruments in writing signed by all the members of the Committee, and any
actions so taken shall be as effective as if it had been passed by a majority
of the votes cast by the members of the Committee present at a meeting of
such members duly called and held.

     3.3  The Committee shall have the power, where consistent with the
general purpose and intent of the Plan and subject to the specific provisions
of the Plan:

     (a)  to establish policies and to adopt rules and regulations for carrying
          out the purposes, provisions and administration of the Plan;

     (b)  to interpret and construe the Plan and to determine all questions
          arising out of the Plan and any Option granted pursuant to the Plan,
          and any such interpretation, construction or termination made by the
          Committee shall be final, binding and conclusive for all purposes;

     (c)  to determine to which Eligible Persons Options are granted and to
          grant Options;

     (d)  to determine the number of Shares covered by each Option;

     (e)  to determine the Option Price;

     (f)  to determine the time or times when Options will be granted and
          exercisable;

     (g)  to determine if the Shares that are subject to an Option will be
          subject to any restrictions upon the exercise of such Option; and

     (h)  to prescribe the form of the instruments relating to the grant,
          exercise and other terms of Options.

                      ARTICLE FOUR - SHARES SUBJECT TO PLAN

     4.1  Options may be granted in respect of authorized and unissued
Shares, provided that the aggregate number of Shares of all classes reserved
for issuance under this Plan, subject to adjustment or

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increase of such number pursuant to the provisions of Article Eight hereof,
shall not exceed 1,000,000 Shares at the date of the grant of the Option, or
such greater number of Shares as may be determined by the Board and approved
by any other relevant regulatory authority. Shares in respect of which
Options are not exercised shall be available for subsequent Options under the
Plan. No fractional shares may be purchased or issued under the Plan.

             ARTICLE FIVE - ELIGIBILITY, GRANT AND TERMS OF OPTIONS

     5.1  Options may be granted to directors, officers or employees of the
Corporation or of any Subsidiary of the Corporation and any other person or
corporation approved by the Committee.

     5.2  Options may be granted by the Corporation pursuant to
recommendations of the Committee provided and to the extent that such
recommendations are approved by the Board.

     5.3  Subject as herein and as otherwise specifically provided for in
this Article Five, the number of Shares subject to each Option, the Option
Price, the expiration date of each Option, the extent to which each Option is
exercisable from time to time during the term of the Option and other terms
and conditions relating to each such Option shall be determined by the
Committee; provided, however, that if no specific determination is made by
the Committee with respect to any of the following matters, each Option
shall, subject to any other specific provisions of the Plan, contain the
following terms and conditions:

     (a)  the period during which an Option shall be exercisable shall be 5
          years from the date the Option is granted to the Optionee; and

     (b)  the Optionee may take up and pay for not more than 33 1/3% of the
          Shares covered by the Option during each 12-month period following the
          first anniversary from the date of the grant of the Option; provided,
          however, that if the number of Shares taken up under the Option during
          any such 12-month period is less than 33 1/3% of the Shares covered by
          the Option, the Optionee shall have the right, at any time or from
          time to time during the remainder of the term of the Option, to
          purchase such number of Shares subject to the Option that were
          purchasable, but not purchased by him, during such 12 month period;
          provided that in the event any person acquires 90% of the issued and
          outstanding Shares, all Options shall become immediately exercisable
          in full and the holders thereof may take up and pay for all such
          Shares.

     5.4  The Option Price on Shares that are subject of any Option shall in
no circumstances be lower than the Market Price of the Shares at the date of
the grant of the Option, less the maximum discount permitted under the
by-laws and policies of any stock exchange on which the shares are then
listed and posted for trading and in the event the shares are not then listed
and posted for trading on any stock exchange such maximum discount shall be
determined by the Board.

     5.5  In no event may the term of an Option exceed 10 years from the date
of the grant of Option.

     5.6  An Option is personal to the Optionee and is non-assignable.

                 ARTICLE SIX - TERMINATION OF EMPLOYMENT; DEATH

     6.1  Subject to Section 6.2 hereof and to any express resolution passed
by the Committee with respect to an Option, an Option, and all rights to
purchase Shares pursuant thereto, shall expire and terminate immediately upon
the Optionee ceasing to be a director or employee of the Corporation or of

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<PAGE>

any Subsidiary of the Corporation or ceasing to have such other relationship
(the "Relationship") with the Corporation specified by the Committee at the
time the Committee approved such person or corporation as an Eligible Person.

     6.2  If, before the expiry of an Option in accordance with the terms
thereof, the employment of the Optionee by the Corporation or by any
Subsidiary of the Corporation shall terminate for any reason whatsoever other
than termination by the Corporation for cause, but including termination by
reason of the death of the Optionee, or if the Relationship of the Optionee
is terminated for any reason such Option may, subject to the terms thereof
and any other terms of the Plan, be exercised, if the Optionee is deceased,
by the legal personal representative(s) of the estate of the Optionee during
the first three months following the death of the Optionee, or if he is
alive, by the Optionee, at any time within 30 days of the date of termination
of the employment or Relationship of the Optionee (but in either case prior
to the expiry of the Option in accordance with the terms thereof), but only
to the extent that the Optionee was entitled to exercise such Option at the
date of the termination of his employment.

     6.3  Options shall not be affected by any change of employment of the
Optionee or by the Optionee ceasing to be a director where the Optionee
continues to be employed by, or continues to be a director of, the
Corporation or any Subsidiary of the Corporation or by any change in the
Relationship.

                       ARTICLE SEVEN - EXERCISE OF OPTIONS

     7.1  Subject to the provisions of the Plan, an Option may be exercised
from time to time by delivery to the Corporation at its registered office of
a written notice of exercise addressed to the Secretary of the Corporation
specifying the number of Shares to be purchased and the Option Price
applicable to such Shares. Certificates for such Shares shall be issued and
delivered to the Optionee within a reasonable time following the receipt of
such notice and payment.

     7.2  Notwithstanding any of the provisions contained in the Plan or in
any Option, the Corporation's obligation to issue Shares to an Optionee
pursuant to the exercise of an Option shall be subject to:

     (a)  completion of such registration or other qualification of such Shares
          or obtaining approval of such governmental authority as the
          Corporation shall determine to be necessary or advisable in connection
          with the authorization, issuance or sale thereof;

     (b)  the admission of such Shares to listing on any stock exchange on which
          the Shares may then be listed; and

     (c)  the receipt from the Optionee of such representations, agreements and
          undertakings, including as to future dealings is such Shares, as the
          Corporation or its counsel determines to be necessary or advisable in
          order to safeguard against the violation of the securities laws of any
          jurisdiction.

In this connection the Corporation shall, to the extent necessary, take all
reasonable steps to obtain such approvals, registrations and qualifications
as may be necessary for the issuance of such Shares in compliance with
applicable securities laws and for the listing of such Shares on any stock
exchange on which the Shares are then listed.

                       ARTICLE EIGHT - CERTAIN ADJUSTMENTS

     8.1  Appropriate adjustments in the number of Shares subject to the
Plan, and as regards Options granted or to be granted, in the number of
Shares optioned and in the Option Price, shall be made

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<PAGE>

by the Board to give effect to adjustments in the number of Shares of the
Corporation resulting from subdivisions, consolidations or reclassifications
of the Shares of the Corporation, the payment of stock dividend by the
Corporation (other than dividends in the ordinary course) or other relevant
changes in the capital stock of the Corporation.

               ARTICLE NINE - AMENDMENT OR DISCONTINUANCE OF PLAN

     9.1  The Board may amend or discontinue the Plan at any time; provided,
however, that no such amendment may, without the consent of the Optionee,
alter or impair any Option previously granted to an Optionee under the Plan.

                     ARTICLE TEN - MISCELLANEOUS PROVISIONS

     10.1  The holder of an Option shall not have any rights as a shareholder
of the Corporation with respect to any of the Shares covered by such Option
until such holder shall have exercised such Option in accordance with the
terms of the Plan (including tendering payment in full of the Option Price of
the Shares in respect of which the Option is being exercised) and the
Corporation shall issue such Shares to the Optionee in accordance with the
terms of the Plan in those circumstances.

     10.2  Nothing in the Plan or any Option shall confer upon any Optionee
any right to continue in the employ or in any Relationship with the
Corporation or any Subsidiary of the Corporation or affect in any way the
right of the Corporation or any such Subsidiary to terminate his employment
or Relationship at any time; nor shall anything in the Plan or any Option be
deemed or construed to constitute an agreement, or an expression of intent,
on the part of the Corporation or any such Subsidiary to extend the
employment or Relationship of any Optionee beyond the time that he would
normally be retired pursuant to the provisions of any present or future
retirement plan of the Corporation or any Subsidiary or any present or future
retirement policy of the Corporation or any Subsidiary, or beyond the time at
which he would otherwise be retired pursuant to the provisions of any
contract of employment with the Corporation or any Subsidiary or otherwise
beyond the time agreed.

     10.3  References herein to any gender include all genders.

                      ARTICLE ELEVEN - SHAREHOLDER APPROVAL

     11.1  The Plan shall be subject to the approval of the shareholders of
the Corporation. Any Options granted prior to such approval shall be
conditional upon such approval being given and no such Options may be
exercised unless and until such approval and acceptance is given.

                                       5<PAGE>

                                                                   EXHIBIT 4.1

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), NEW YORK, NEW YORK, TO
THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, AND ANY PAYMENT IS
MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT
NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR'S NOMINEE.

THE SECURITY EVIDENCED HEREBY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAWS AND MAY
NOT BE OFFERED OR SOLD EXCEPT AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS
ACQUISITION HEREOF, THE HOLDER (1) REPRESENTS THAT IT IS A "QUALIFIED
INSTITUTIONAL BUYER" (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT); (2)
AGREES THAT IT WILL NOT WITHIN TWO YEARS AFTER THE ORIGINAL ISSUANCE OF THE
SECURITY EVIDENCED HEREBY RESELL OR OTHERWISE TRANSFER THE SECURITY EVIDENCED
HEREBY OR THE COMMON STOCK ISSUABLE UPON CONVERSION OF SUCH SECURITY EXCEPT (A)
TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) TO A QUALIFIED INSTITUTIONAL BUYER
IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) PURSUANT TO THE
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF
AVAILABLE) OR (D) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED
EFFECTIVE UNDER THE SECURITIES ACT (AND WHICH CONTINUES TO BE EFFECTIVE AT THE
TIME OF SUCH TRANSFER); AND (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO
WHOM THE SECURITY EVIDENCED HEREBY IS TRANSFERRED (OTHER THAN A TRANSFER
PURSUANT TO CLAUSE 2(D) ABOVE) A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS
LEGEND. IF THE PROPOSED TRANSFER IS PURSUANT TO CLAUSE 2(C) ABOVE, THE HOLDER
MUST, PRIOR TO SUCH TRANSFER, FURNISH TO STATE STREET BANK AND TRUST COMPANY OF
CALIFORNIA, N.A., AS TRUSTEE, SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER
INFORMATION AS THE COMPANY MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH TRANSFER
IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THIS LEGEND WILL BE REMOVED
UPON THE EARLIER OF THE TRANSFER OF THE SECURITY EVIDENCED HEREBY PURSUANT TO
CLAUSE 2(C) OR 2(D) ABOVE OR THE EXPIRATION OF TWO YEARS FROM THE ORIGINAL
ISSUANCE OF THE SECURITY EVIDENCED HEREBY.

<PAGE>

                          TRIQUINT SEMICONDUCTOR, INC.

                    4% CONVERTIBLE SUBORDINATED NOTE DUE 2007

No.                                                          $

CUSIP NO. 89674KAA1

         TRIQUINT SEMICONDUCTOR, INC., a corporation duly organized and existing
under the laws of the State of Delaware (herein called the "COMPANY," which term
includes any successor entity under the Indenture hereinafter referred to), for
value received, hereby promises to pay to Cede & Co., or registered assigns, the
principal sum of                              ($             ) at the office or
agency of the Company referred to below, on March 1, 2007 in such coin or
currency of the United States of America as at the time of payment shall be
legal tender for the payment of public and private debts, and to pay interest on
said principal sum semiannually on March 1 and September 1 of each year,
commencing September 1, 2000 (each an "INTEREST PAYMENT DATE"), at said office
or agency, in like coin or currency, at the rate of 4% per annum, until the
principal hereof is paid or made available for payment. The interest so payable,
and punctually paid or duly provided for, on any Interest Payment Date will, as
provided in such Indenture, be paid to the Person in whose name this Security
(or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest, which shall be the February 15 or
August 15 (whether or not a Business Day), as the case may be, next preceding
such Interest Payment Date. Any such interest not so punctually paid or duly
provided for will forthwith cease to be payable to the Holder on such Regular
Record Date and may either be paid to the Person in whose name this Security (or
one or more Predecessor Securities) is registered at the close of business on a
Special Record Date for the payment of such Defaulted Interest to be fixed by
the Trustee, notice whereof shall be given to Holders of Securities not less
than 10 days prior to such Special Record Date, or be paid at any time in any
other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in said Indenture.

         Payment of the principal of, premium, if any (including the Make-Whole
Payment, if any), and interest (including Liquidated Damages, if any) on this
Security shall be made at the office or agency of the Company maintained for
such purpose, which initially shall be the Corporate Trust Office of the Trustee
or such other office or agency of the Company as may be designated by it in the
Borough of Manhattan, The City of New York, in such lawful money of the United
States of America as at the time of payment is legal tender for payment of
public and private debts, PROVIDED that the Company may make such payment either
by (i) mailing a check in the amount of such payment, payable to or upon the
written order of the Person entitled thereto pursuant to Section 3.07 of the
Indenture (as defined herein) or (ii) transfer to an account maintained by the
payee located inside the United States.

<PAGE>

         Reference is hereby made to the further provisions of this Security set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

         Unless the certificate of authentication hereon has been executed by
the Trustee referred to on the reverse hereof by manual signature, this Security
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

         IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.

DATED:  February   , 2000              TRIQUINT SEMICONDUCTOR, INC.

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

TRUSTEE'S CERTIFICATE OF AUTHENTICATION
This is one of the Securities referred to in the within-mentioned Indenture.

DATED:  February   , 2000              STATE STREET BANK AND TRUST COMPANY OF
                                       CALIFORNIA, N.A.
                                           as Trustee

                                       By:
                                            -----------------------------------
                                             Authorized Signatory

<PAGE>

                               REVERSE OF SECURITY

                          TRIQUINT SEMICONDUCTOR, INC.

                    4% CONVERTIBLE SUBORDINATED NOTE DUE 2007

         This Security is one of a duly authorized issue of securities of the
Company designated as its 4% Convertible Subordinated Notes due 2007 (herein
called the "SECURITIES"), limited in aggregate principal amount to $300,000,000
(up to $345,000,000 if the option set forth in Section 2(b) of the Purchase
Agreement dated February 17, 2000 among the Company and the Initial Purchasers
named therein is exercised in full), which may be issued under an Indenture,
dated as of February 24, 2000 (the "INDENTURE"), between the Company and State
Street Bank and Trust Company of California, N.A., as Trustee for the Holders of
Securities issued under said Indenture (herein called the "TRUSTEE", which term
includes any successor trustee under the Indenture), to which Indenture and all
indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of
the Company, the Trustee, the holders of Senior Indebtedness and the Holders of
the Securities and of the terms upon which the Securities are, and are to be,
authenticated and delivered.

         The Holder of this Security (including any Person that has a
beneficial interest in this Security) and the Common Stock of the Company
issuable upon conversion hereof is entitled to the benefits of a Registration
Rights Agreement, dated as of February 24, 2000 executed by the Company (the
"Registration Rights Agreement"). Pursuant to the Registration Rights
Agreement, the Company has agreed for the benefit of the Holders from time to
time of the Registrable Securities to pay additional interest on this Security
("Liquidated Damages") in accordance with the terms of the Registration Rights
Agreement. Whenever in this Security there is a reference, in any context, to
the payment of the principal of, premium, if any, or interest on, or in respect
of, any Security, such mention shall be deemed to include mention of the
payment of Liquidated Damages payable as described in this paragraph to the
extent that, in such context, Liquidated Damages are, were or would be payable
in respect of such Security and express mention of the payment of Liquidated
Damages (if applicable) in any provisions of this Security shall not be
construed as excluding Liquidated Damages in those provisions of this Security
where such express mention is not made.

         Subject to and upon compliance with the provisions of the Indenture,
the Holder of this Security is entitled, at its option, at any time on or before
maturity of the Securities, or in case this Security or a portion hereof is
called for redemption, then in respect of this Security or such portion hereof
until and including, but (unless the Company defaults in making the payment due
upon redemption or repurchase) not after, the close of business on the Business
Day immediately preceding the Redemption Date or Repurchase Date, as the case
may be, to convert this Security (or any portion of the principal amount hereof
which is U.S. $1,000 or an integral multiple thereof), at the principal amount
hereof, or of such portion, into fully paid and nonassessable shares of Common
Stock of the Company at a Conversion Price of $135.60 per share of Common Stock,
which is equal to a Conversion Rate of 7.3746 shares of Common Stock per $1,000
principal amount of the Securities (or at the current adjusted Conversion Price
and Conversion Rate if an adjustment has been made as provided in Article 12 of
the Indenture) by surrender of this Security, duly endorsed or assigned to the
Company or in blank, to the Company at its office or agency maintained for such

<PAGE>

purpose, accompanied by the conversion notice hereon executed by the Holder
hereof evidencing such Holder's election to convert this Security, or if less
than the entire principal amount hereof is to be converted, the portion hereof
to be converted, and, in case such surrender shall be made during the period
from the close of business on any Regular Record Date to the opening of
business on the corresponding Interest Payment Date (unless this Security or
the portion hereof being converted has been called for redemption on a
Redemption Date within such period between and including such Regular Record
Date and such Interest Payment Date), also accompanied by payment in funds
acceptable to the Company of an amount equal to the interest payable on such
Interest Payment Date on the principal amount of this Security then being
converted. Subject to the aforesaid requirement for payment of interest and, in
the case of a conversion after the close of business on any Regular Record Date
and on or before the corresponding Interest Payment Date, to the right of the
Holder of this Security (or any Predecessor Security) of record at such Regular
Record Date to receive an installment of interest (even if the Security has
been called for redemption on a Redemption Date within such period), no payment
or adjustment is to be made on conversion for interest accrued hereon or for
dividends on the Common Stock issued on conversion. No fractions of shares or
scrip representing fractions of shares will be issued on conversion, but
instead of any fractional interest the Company shall pay a cash adjustment as
provided in Article 12 of the Indenture. The Conversion Rate and Conversion
Price are subject to adjustment as provided in Article 12 of the Indenture. In
addition, the Indenture provides that in case of certain reclassifications,
consolidations, mergers, sales or transfers of assets or other transactions
pursuant to which the Common Stock is converted into the right to receive other
securities, cash or other property, the conversion privilege shall be modified
so that this Security, if then outstanding, will be convertible thereafter,
during the period this Security shall be convertible as specified above, only
into the kind and amount of securities, cash and other property receivable upon
the transaction by a holder of the number of shares of Common Stock into which
this Security might have been converted immediately prior to such transaction.

         The Securities may be redeemed at the election of the Company, as a
whole or from time to time in part, at any time prior to March 5, 2003 (a
"PROVISIONAL REDEMPTION"), at a Redemption Price equal to $1,000 per $1,000
principal amount of the Securities plus accrued and unpaid interest, if any, to
but excluding the date of redemption (the "PROVISIONAL REDEMPTION DATE") if (i)
the Closing Price of the Common Stock has exceeded 150% of the Conversion Price
(as defined in Article 12 of the Indenture and as such may be adjusted from
time to time) then in effect for at least 20 Trading Days in any period of 30
consecutive Trading Days ending on the Trading Day prior to the date of mailing
of the provisional notice of redemption pursuant to Section 10.04 (the "NOTICE
DATE"), and (ii) a registration statement covering resales of the Securities
and Common Stock issuable upon the conversion thereof is effective and
available for use and is expected to remain effective for the 30 days following
the Provisional Redemption Date unless registration is no longer required.

         Upon any such Provisional Redemption, the Company shall make an
additional payment in cash (the "MAKE-WHOLE PAYMENT") to holders of the
Securities called for redemption, including those Securities converted into
Common Stock between the Notice Date and the Provisional Redemption Date, in an
amount equal to $166.67 per $1,000 principal amount of the Securities, less the
amount of any interest actually paid on the Securities before the date of
redemption.

         The Securities (other than those Securities that have been converted in
accordance with the terms of the Indenture) are subject to redemption at the
option of the Company upon not less than 30

<PAGE>

days' or more than 60 days' notice by mail (unless a shorter notice is deemed
satisfactory by the Trustee), as a whole or from time to time in part, at any
time on or after March 5, 2003. The redemption prices (expressed as percentages
of the principal amount) shall be as set forth below for Securities redeemed
during the following periods described below:

<TABLE>
<CAPTION>

PERIOD                                              REDEMPTION PRICE
-----------------------------------------------     -------------------
<S>                                                 <C>

March 5, 2003 through February 29, 2004                 102.286%

March 1, 2004 through February 28, 2005                 101.714%

March 1, 2005 through February 28, 2006                 101.143%

March 1, 2006 through February 28, 2007                 100.571%

</TABLE>

and 100% of the principal amount on March 1, 2007, together, in the case of any
such redemption, with accrued interest to (but not including) the Redemption
Date (subject to the right of holders of record on the Regular Record Date to
receive interest on the related Interest Payment Date). Any redemption of
Securities must be in integral multiples of $1,000.

         If fewer than all of the Securities are to be redeemed, the Trustee
shall select the Securities to be redeemed in principal amounts at maturity of
$1,000 or integral multiples thereof by lot, pro rata or by another method the
Trustee considers fair and appropriate. If a portion of a Holder's Securities is
selected for partial redemption and that holder converts a portion of those
Securities prior to the redemption, the converted portion shall be deemed,
solely for purposes of determining the aggregate principal amount of the
Securities to be redeemed by the Company, to be of the portion selected for
redemption.

         In certain circumstances involving a Change in Control, each Holder
shall have the right to require the Company to repurchase all or part of its
Securities at a repurchase price equal to 100% of the principal amount thereof,
together with accrued and unpaid interest through the Repurchase Date (subject
to the right of holders of record on the Regular Record Date to receive interest
on the related Interest Payment Date). At the option of the Company, the
Repurchase Price may be paid in cash or, subject to the conditions provided in
the Indenture, by delivery of shares of Common Stock.

         The Securities do not have the benefit of any sinking fund.

         In the event of redemption, conversion or repurchase of this Security
in part only, a new Security or Securities for the unredeemed, unconverted or
unrepurchased portion hereof shall be issued in the name of the Holder hereof
upon the cancellation hereof.

         The indebtedness evidenced by this Security is, to the extent provided
in the Indenture, subordinate and subject in right of payment to the prior
payment in full of all Senior Indebtedness, and this Security is issued subject
to the provisions of the Indenture with respect thereto. Each Holder of this
Security, by accepting the same, (a) agrees to and shall be bound by such
provisions, (b) authorizes and directs the Trustee on his behalf to take such
action as may be necessary or appropriate to effectuate the subordination so
provided and (c) appoints the Trustee his attorney-in-fact for any and all such
purposes.

<PAGE>

         If an Event of Default shall occur and be continuing, the principal of
all the Securities may be declared due and payable in the manner and with the
effect provided in Article 4 of the Indenture.

         The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities under the Indenture at
any time by the Company and the Trustee with the consent of the Holders of a
majority in aggregate principal amount of the Securities at the time
Outstanding. The Indenture also contains provisions permitting the Holders of a
majority in aggregate principal amount of the Securities at the time
Outstanding, on behalf of the Holders of all the Securities, to waive compliance
by the Company with certain provisions of the Indenture and certain past
defaults under the Indenture and their consequences. Any such consent or waiver
by the Holder of this Security shall be conclusive and binding upon such Holder
and upon all future Holders of this Security and of any Security issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Security.

         No reference herein to the Indenture and no provision of this Security
or of the Indenture shall alter or impair the obligation of the Company, which
is absolute and unconditional, to pay the principal of, premium, if any
(including the Make-Whole Payment, if any), and interest (including Liquidated
Damages, if any) on this Security at the times, place and rate, and in the coin
or currency, herein prescribed or to convert this Security as provided in the
Indenture.

         As provided in the Indenture and subject to certain limitations therein
set forth, the transfer of this Security is registrable in the Security
Register, upon surrender of this Security for registration of transfer at the
Corporate Trust Office duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the Security Registrar duly
executed by, the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Securities, of authorized denominations and for the
same aggregate principal amount, will be issued to the designated transferee or
transferees.

         The Securities are issuable only in registered form without coupons in
denominations of $1,000 and any integral multiple thereof.

         No service charge shall be made to a Holder for any such registration
of transfer or exchange, but the Company may require payment of a sum sufficient
to cover any tax or other governmental charge payable in connection therewith.

         Prior to due presentment of this Security for registration of transfer,
the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name this Security is registered as the owner hereof for all
purposes and neither the Company, the Trustee nor any such agent shall be
affected by notice to the contrary.

         Interest (including Liquidated Damages, if any) on this Security shall
be computed on the basis of a 360-day year of twelve 30-day months. In the event
that any date on which interest is payable on the Securities is not a Business
Day, then payment of interest payable on such date will be made on the next
succeeding day which is a Business Day (and without any interest or other
payment in respect of any such delay).

<PAGE>

         All terms used in this Security which are defined in the Indenture
shall have the meanings assigned to them in the Indenture.

         THE INDENTURE AND THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF
LAWS PRINCIPLES.

<PAGE>

                                CONVERSION NOTICE

         To:      TRIQUINT SEMICONDUCTOR, INC.

         The undersigned Holder of this Security hereby irrevocably exercises
the option to convert this Security, or the portion hereof (which is $1,000 or
an integral multiple thereof) below designated, at any time following the date
of original issuance thereof, into shares of Common Stock in accordance with the
terms of the Indenture referred to in this Security, and directs that the shares
issuable and deliverable upon conversion, together with any check in payment for
a fractional share and any Security representing any unconverted principal
amount hereof, be issued and delivered to the registered owner hereof unless a
different name has been provided below. If shares or any portion of this
Security not converted are to be issued in the name of a person other than the
undersigned, the undersigned will pay all transfer taxes payable with respect
thereto and is delivering herewith a certificate in proper form certifying that
the applicable restrictions on transfer have been complied with. Any amount
required to be paid by the undersigned on account of interest accompanies this
Security.

Dated:                                         By:
                                                   ----------------------------
                                                    Signature*

If shares or Securities are to be registered    Principal amount to be converted
in the name of a Person other than the          (if less than all):$______,000
Holder, please print such Person's name
and address:

--------------------------------------------
Name

--------------------------------------------
Social Security or Taxpayer
Identification Number

--------------------------------------------
Street Address

--------------------------------------------
City, State and Zip Code
* Signature(s) must be guaranteed by an eligible guarantor institution (banks,
stock brokers, savings and loan associations and credit unions with membership
in an approved signature guarantee medallion program) pursuant to Securities and
Exchange Commission Rule 17Ad-15 if shares of Common Stock are to be delivered,
or unconverted Securities are to be issued, other than to and in the name of the
registered owner.

<PAGE>

                    ELECTION OF HOLDER TO REQUIRE REPURCHASE

           (1)     Pursuant to Article 11.01 of the Indenture, the undersigned
hereby elects to have this Security repurchased by the Company.

           (2)     The undersigned hereby directs the Trustee or the Company to
pay it or ___________________ an amount in cash or, at the Company's election,
Common Stock valued as set forth in the Indenture, equal to 100% of the
principal amount to be repurchased (as set forth below), plus interest
(including Liquidated Damages, if any) accrued to the Repurchase Date, as
provided in the Indenture.

Dated:

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

--------------------------------------------
Signature(s)

Signature(s) must be guaranteed by an Eligible
Guarantor Institution with membership in an
approved signature guarantee program pursuant
to Rule 17Ad-15 under the Securities Exchange
Act of 1934.

--------------------------------------------
Signature Guaranteed

Principal amount to be repurchased (at least
U.S. $1,000 or an integral multiple of $1,000
in excess thereof):  ______________________

Remaining principal amount following such
repurchase (not less than U.S. $1,000):

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

NOTICE: The signature to the foregoing Election must correspond to the Name as
written upon the face of this Security in every particular, without alteration
or any change whatsoever.

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