Document:

Exhibit 10.21

 

TERMINATION
AGREEMENT

This TERMINATION AGREEMENT (this “Agreement”)
is made and entered into as of June 28, 2006, by
and between  JAZZ SEMICONDUCTOR, INC., a
Delaware corporation (the “Company”),
and TC GROUP, L.L.C.,
a Delaware limited liability company (“Carlyle”).

RECITALS

WHEREAS, the Company and Carlyle entered into a Carlyle Management Agreement on
March 12, 2002 whereby the Company appointed Carlyle to render advisory and
consulting services (the “Management
Agreement”);

WHEREAS, in connection with the registration of securities of
the Company pursuant to a Registration Statement on Form S-1 (333-133485) filed
with the Securities and Exchange Commission and the subsequent sale and
issuance of such securities (the “IPO”), the Company and Carlyle wish to terminate the
Management Agreement with the exception of certain indemnification provisions
that shall survive the termination of the Management Agreement as specified in
this Agreement.

AGREEMENT

NOW, THEREFORE, the parties to this Agreement, for good and valuable consideration,
the receipt and sufficiency of which is acknowledged and agreed, hereby agree
as follows:

1.             Termination.

(a)           Management Agreement. 
The Company and Carlyle hereby agree that effective immediately prior to
the Closing (as defined in the Underwriting Agreement to be entered into by and
among the Company and the underwriters’ representatives in connection with the
IPO), the Management Agreement shall terminate
in its entirety and be of no further legal force or effect; provided that Sections 5, 7 and 8
of the Management Agreement shall survive such termination until later amended,
waived or terminated in accordance with the terms of the Management Agreement.

(b)           Termination Fee.  The Company and Carlyle hereby agree that promptly
following termination of the Management Agreement in accordance with this
Section 1, the Company will pay to Carlyle a cash payment in the amount of
$900,000.00 (the “Termination
Fee”).  The Company shall
deliver payment of the Termination Fee to Carlyle by a bank cashier’s
or certified check payable to Carlyle, or wire transfer of immediately
available funds to an account designated by Carlyle.

2.             Condition.  Notwithstanding anything to
the contrary set forth herein, this Agreement shall not commence and shall not have effect
unless and until the Closing (as defined in the Underwriting Agreement) has
occurred.

3.             Miscellaneous.

(a)           Entire
Agreement; Binding Effect. 
This Agreement shall constitute the entire agreement between the parties
with respect to the subject matter hereof, and shall 

 

supersede all
previous oral and written (and all contemporaneous oral) negotiations,
commitments, agreements and understandings relating hereto.

(b)           Amendment; Waiver. 
No amendment or waiver of any provision of this Agreement, or consent to
any departure by either party from any such provision, shall be effective
unless the same shall be in writing and signed by the parties to this
Agreement, and, in any case, such amendment, waiver or consent shall be effective
only in the specific instance and for the specific purpose for which given.

(c)           Governing
Law; Venue.  This Agreement shall be governed by, and
enforced in accordance with, the laws of the State of Delaware (excluding the
choice of law principles thereof).  The
parties to this Agreement hereby agree to submit to the non-exclusive
jurisdiction of the federal and state courts located in the State of Delaware
in any action or proceeding arising out of or relating to this Agreement.  This Agreement shall inure to the benefit of,
and be binding upon Carlyle and the Company (including any present or future
subsidiaries of the Company that are not signatories hereto), and their
respective successors and assigns.

(d)           Counterparts;
Facsimile.  This Agreement may be executed in two or more
counterparts, and by different parties on separate counterparts.  Each set of counterparts showing execution by
all parties shall be deemed an original, and shall constitute one and the same
instrument.

(e)           Term. 
This Agreement will automatically terminate on December 31, 2007 if the
IPO has not been completed by such date.

(f)            Further
Assurances.  Each party hereto agrees to execute and
deliver, or cause to be executed and delivered, such further instruments or
documents or take such other actions as may be reasonably necessary to
consummate the transactions contemplated by this Agreement.

[REMAINDER
OF THIS PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF the parties have hereunto caused this
Agreement to be duly executed as of the date first above written.

	
   

  	
  TC GROUP, L.L.C.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  TCG Holdings, L.L.C.,

  	
   

  
	
   

  	
   

  	
  its Managing Member

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Claudius E. Watts IV

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Claudius E. Watts IV

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  JAZZ SEMICONDUCTOR, INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Shu Li

  	
   

  
	
   

  	
  Name:

  	
  Shu Li

  	
   

  
	
   

  	
  Title:

  	
  CEOExhibit
10.22

TERMINATION
AGREEMENT

This TERMINATION AGREEMENT (this “Agreement”)
is made and entered into as of June 28, 2006, by
and between  JAZZ SEMICONDUCTOR, INC., a
Delaware corporation (the “Company”),
and CONEXANT SYSTEMS,
INC., a Delaware corporation (“Conexant”).

RECITALS

WHEREAS, the Company and Conexant entered into a Conexant Management Agreement
on March 12, 2002 whereby the Company appointed Conexant to render advisory and
consulting services (the “Management
Agreement”);

WHEREAS, in connection with the registration of securities of
the Company pursuant to a Registration Statement on Form S-1 (333-133485) filed
with the Securities and Exchange Commission and the subsequent sale and
issuance of such securities (the “IPO”), the Company and Conexant wish to terminate the
Management Agreement with the exception of certain indemnification provisions
that shall survive the termination of the Management Agreement as specified in
this Agreement.

AGREEMENT

NOW, THEREFORE, the parties to this Agreement, for good and valuable consideration,
the receipt and sufficiency of which is acknowledged and agreed, hereby agree
as follows:

1.             Termination.

(a)           Management Agreement. 
The Company and Conexant hereby agree that effective immediately prior
to the Closing (as defined in the Underwriting Agreement to be entered into by
and among the Company and the underwriters’ representatives in connection with
the IPO), the Management Agreement shall terminate
in its entirety and be of no further legal force or effect; provided that Sections 5, 7 and 8
of the Management Agreement shall survive such termination until later amended,
waived or terminated in accordance with the terms of the Management Agreement.

(b)           Termination Fee.  The Company and Conexant hereby agree that promptly
following termination of the Management Agreement in accordance with this
Section 1, the Company will pay to Conexant a cash payment in the amount of
$900,000.00 (the “Termination
Fee”).  The Company shall
deliver payment of the Termination Fee to Conexant by bank cashier’s or
certified check payable to Conexant, or wire transfer of immediately available
funds to an account designated by Conexant.

2.             Condition.  Notwithstanding anything to
the contrary set forth herein, this Agreement shall not commence and shall not have effect
unless and until the Closing (as defined in the Underwriting Agreement) has
occurred.

3.             Miscellaneous.

(a)           Entire
Agreement; Binding Effect. 
This Agreement shall constitute the entire agreement between the parties
with respect to the subject matter hereof, and shall 

 

supersede all
previous oral and written (and all contemporaneous oral) negotiations,
commitments, agreements and understandings relating hereto.

(b)           Amendment; Waiver. 
No amendment or waiver of any provision of this Agreement, or consent to
any departure by either party from any such provision, shall be effective
unless the same shall be in writing and signed by the parties to this
Agreement, and, in any case, such amendment, waiver or consent shall be effective
only in the specific instance and for the specific purpose for which given.

(c)           Governing
Law; Venue.  This Agreement shall be governed by, and
enforced in accordance with, the laws of the State of Delaware (excluding the
choice of law principles thereof).  The
parties to this Agreement hereby agree to submit to the non-exclusive
jurisdiction of the federal and state courts located in the State of Delaware
in any action or proceeding arising out of or relating to this Agreement.  This Agreement shall inure to the benefit of,
and be binding upon Conexant and the Company (including any present or future
subsidiaries of the Company that are not signatories hereto), and their
respective successors and assigns.

(d)           Counterparts;
Facsimile.  This Agreement may be executed in two or more
counterparts, and by different parties on separate counterparts.  Each set of counterparts showing execution by
all parties shall be deemed an original, and shall constitute one and the same
instrument.

(e)           Term. 
This Agreement will automatically terminate on December 31, 2007 if
the IPO has not been completed by such date.

(f)            Further
Assurances.  Each party hereto agrees to execute and
deliver, or cause to be executed and delivered, such further instruments or
documents or take such other actions as may be reasonably necessary to
consummate the transactions contemplated by this Agreement.

[REMAINDER
OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

IN WITNESS WHEREOF the parties have hereunto caused this
Agreement to be duly executed as of the date first above written.

	
   

  	
  CONEXANT SYSTEMS, INC.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dennis O'Reilly

  	
   

  
	
   

  	
  Name:

  	
  Dennis O'Reilly

  	
   

  
	
   

  	
  Title:

  	
  SVP, CLO and Secretary

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  JAZZ SEMICONDUCTOR, INC.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Shu Li

  	
   

  
	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
  Title:

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