Document:

ex10_14.htm

Exhibit 10.14

AMENDED AND RESTATED

2007 RAYMOND JAMES FINANCIAL, INC. STOCK BONUS PLAN

 

 

 

SECTION 1. PURPOSE OF THE PLAN.

 

 

The name of this plan is the Amended and Restated 2007 RAYMOND JAMES FINANCIAL, INC. STOCK BONUS PLAN (the "Plan"). The Plan amends and restates in its entirety that certain 2007 Raymond James Financial, Inc. Stock Bonus Plan (the “Original Plan”). The purpose of the Plan is to
enable RAYMOND JAMES FINANCIAL, INC. (the "Company") and its Subsidiaries to attract, retain and motivate officers and certain other employees, to compensate them for their contributions to the growth and profits of the Company and to encourage ownership of stock in the Company on the part of such personnel. The Plan provides incentives to participating officers and certain other employees which are linked directly to increases in stockholder value and therefore is designed to inure to the benefit of all stockholders
of the Company.

 

 

SECTION 2. DEFINITIONS.

 

 

For purposes of the Plan, the following terms shall be defined as set forth below:

 

 

(a)           "Board" means the Board of Directors of the Company.

 

 

(b)           "Cause" means termination by the Company or a Subsidiary of a Participant's employment upon (i) the willful and continued failure by such Participant to perform satisfactorily the duties consistent with
his or her title and position reasonably required of him or her by the Board or supervising management (other than any such failure resulting from incapacity due to physical or mental illness), (ii) the commission by such Participant of a felony, or the perpetration by such Participant of a dishonest act or common law fraud against the Company or a Subsidiary, or (iii) any other willful act or omission (including without limitation the deliberate and willful violation of any corporate policy or regulation) which
could reasonably be expected to expose the Company or a Subsidiary to civil liability under the law of the applicable jurisdiction or causes or may reasonably be expected to cause significant injury to the financial condition or business reputation of the Company or a Subsidiary. For purposes of this Subsection, no act, or failure to act, on a Participant's part shall be deemed "willful" unless done, or omitted to be done, by such Participant not in good faith and without reasonable belief that his action or
omission was in the best interest of the Company or a Subsidiary.

 

 

(c)           "Code" means the Internal Revenue Code of 1986, as amended from time to time.

 

 

(d)           "Committee" means the Corporate Governance, Nominating and Compensation Committee of the Board or any successor thereto or such other committee designated by the Board to serve as the Committee hereunder,
appointed by the Board from among its members, who are and shall remain Committee members only so long as they remain "non-employee directors " as defined in Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the "1934 Act"), "independent" within the meaning of Section 303A (Corporate Governance Standards) in the New York Stock Exchange Listed Company Manual, and "outside directors" within the meaning of Section 162(m) of the Code.

 

 

(e)           "Disability" means permanent and total disability as determined under the Company's long-term disability plan or, in the absence of such long-term disability plan, a mental or physical condition which totally
and presumably permanently prevents the Participant from engaging in any substantial gainful employment with the Company or the Subsidiary with which the Participant was employed prior to the inception of the disability.

 

 

(f)           "Eligible Employee" means an employee of the Company or any Subsidiary as described in Section 3, whose bonus in any fiscal year is greater
than a certain amount to be determined annually by the Committee.

 

 

(g)           "Participant" means an Eligible Employee selected by the Committee pursuant to the Committee’s authority in Section 6, to receive an
Award of Restricted Stock or of an Award of a Restricted Stock Unit.

 

 

(h)           "Restricted Stock" means an award of shares of Stock that is subject to the restrictions set forth in Section 5.

 

  

143

  

 

 

 

(i)           "Restricted Stock Unit" means an award of the right to receive Stock or cash or a combination thereof, as determined in the Committee’s sole discretion,
upon settlement that is subject to the restrictions set forth in Section 5A.

 

 

(j)           "Retirement" means no longer being occupied in one's business or profession and terminating active employment with the Company or Subsidiary after either (i) reaching a minimum age of 55 so that the combination
of both age and years of employment with the Company or Subsidiary equals or exceeds 75, (ii) reaching age 60 and having 5 years of employment with the Company or a Subsidiary, or (iii) reaching age 65.

 

 

(k)           "Section 16(a) Person" means any officer or director of the Company or any Subsidiary who is subject to the reporting requirements of Section 16(a) of the 1934 Act with respect to the Stock of the Company.

 

 

(l)           "Stock" means the common stock of the Company, $.01 par value.

 

 

(m)           "Subsidiary" means any corporation (other than the Company) or other entity 50% or more of the total combined voting power of all classes of stock or other proprietary interests of which is owned, directly
or indirectly, by the Company.

 

 

SECTION 3. ELIGIBILITY AND PARTICIPATION.

 

 

Officers and certain other employees of the Company or its Subsidiaries who are responsible for or contribute to the management, growth and/or profitability of the Company or its Subsidiaries shall be eligible to participate in the Plan. The Participants under the Plan shall be selected from time to time by the Committee, in its sole discretion,
from among Eligible Employees.

 

 

SECTION 4. AMOUNT AND FORM OF AWARDS.

 

 

(a)           Awards under the Plan shall be determined from time to time by the Committee in its discretion, including adoption by the Committee of a formula for determining awards. In determining awards, the Committee may, in its sole discretion, among other things, determine the
percentages of annual bonus to be made as awards hereunder in lieu of cash payments and the amount of the percentage discount, if any, to be used in computing the number of shares of Restricted Stock and Restricted Stock Units to be awarded to any particular Participant. A Participant will receive such awards in Restricted Stock or Restricted Stock Units, as designated in the grant.

 

 

(b)           The maximum number of shares of Stock which may be issued under the Plan as of the Effective Date, after giving effect to all awards under the Original Plan, as Restricted Stock or which may be covered by Restricted Stock Units, when aggregated, shall be (i) 2,125,058
in total and (ii) 750,000 in any fiscal year, subject to adjustment as provided in Section 7, and, with respect to any Restricted Stock, such shares may be authorized but unissued shares, or previously issued shares reacquired by the Company, or both. In the event any Restricted Stock or a Restricted Stock Unit is forfeited prior to the end of the Restricted Period (as defined in paragraph (c)(i) of Section
5 or in paragraph (c) of Section 5A), the shares of Stock so forfeited or the number of shares to which the forfeited Restricted Stock Unit relates shall immediately become available for future awards.

 

  

144

  

 

SECTION 5. RESTRICTED STOCK.

 

 

(a)           The number of shares of Restricted Stock awarded to a Participant under the Plan will be determined in accordance with Section 4(a). In order to reflect the impact of the restrictions on the value of the
Restricted Stock, as well as the possibility of forfeiture of Restricted Stock, the Committee shall, solely for purposes of determining the number of shares of Restricted Stock to be awarded to any particular Participant, apply a discount of ten percent (10%) to the fair market value of the Stock; provided however that the Committee may, where it deems appropriate, and in its sole discretion, and for purposes of determining the number of shares of Restricted Stock to be awarded to any particular Participant,
apply an alternative discount rate or no discount at all. The dollar value of an award will be divided by the fair market value of the Stock (or by the discounted fair market value of the Stock, if applicable) to determine the number of shares of Restricted Stock in an award. The value of fractional shares will be paid in cash. For purposes of this Plan, the fair market value of Stock for an award will be the Stock’s closing price on the New York Stock Exchange or the last sale price on any other national
securities exchange registered under the Securities and Exchange Act of 1934, as amended, upon which the Stock is then listed on such date, or if the Stock was not traded on such date, on the next preceding day on which sales of shares of the Stock were reported, all as determined by the Committee. The Committee, in its sole discretion, may provide for alternative methods of determining the fair market value of Stock for such awards, and may also provide for alternative forfeiture provisions, so long as the alternative
methods or provisions do not (i) materially increase the benefits, (ii) materially increase the number of shares of Restricted Stock issued or (iii) materially modify the eligibility requirements applicable to Section 16(a) Persons.

 

 

(b)           All shares of Restricted Stock shall be held in an individual account for each Participant until the Restricted Period (as defined in paragraph (c)(i) of this Section 5) has expired. Such Company records
shall, absent manifest error, be binding on the Participants.

 

 

(c)           The shares of Restricted Stock awarded pursuant to this Section 5 shall be subject to the following restrictions and conditions:

 

 

(i)           Subject to the provisions of the Plan, during the three-year period (together with any extensions thereof approved as provided herein) commencing on the date of the award (the "Restricted Period"), the Participant shall not be permitted to sell, transfer, pledge or assign
shares of Restricted Stock awarded under the Plan.  The Committee may, in its sole discretion, (x) initially provide for an alternative Restricted Period or alter the three-year Restricted Period for a previously granted award (provided that the Committee may not extend the Restricted Period for a previously granted award without the Participant's written consent), (y) during any extension of such Restricted Period, provide for alternative restrictions (provided that nothing contained in this clause
shall grant the Committee any additional powers under the Plan with respect to awards granted to or to be granted to Section 16(a) Persons), and (z) accelerate the lapse of any such restrictions in whole or in part or waive any such restrictions in whole or in part based on such factors and such circumstances as the Committee may determine, in its sole discretion, including, but not limited to, the Participant's Retirement, termination, death or Disability.  If a Participant is subject to an employment
contract with the Company or a Subsidiary which provides for a bonus deferral that is more restrictive than the Restricted Period, then the bonus deferral provisions of that employment agreement shall take precedence.

 

 

(ii)           Unless the Committee in its sole discretion shall determine otherwise at or prior to the time of the grant of any award, the Participant shall have the right to direct the vote of his shares of Restricted Stock during the Restricted Period.  The Participant
shall have the right to receive any dividends on such shares of Restricted Stock.

 

 

(iii)           Shares of Restricted Stock shall be delivered to the Participant in accordance with paragraph (a) of Section 9 promptly after, and only after, the Restricted Period shall expire (or such earlier time
as the restrictions may lapse in accordance with paragraph (c)(i) of this Section 5) without forfeiture in respect of such shares of Restricted Stock.

 

 

(d)           Subject to the provisions of paragraph (c)(i) of this Section 5, the following provisions shall apply to a Participant's shares of Restricted Stock prior to the end of the Restricted Period (including extensions):

 

  

145

  

 

 

 

(i)           Upon the death, Disability or Retirement of a Participant, the restrictions on his or her Restricted Stock shall immediately lapse.  Upon the death of a Participant, such Participant's Restricted Stock shall transfer to the Participant's beneficiary as such
beneficiary is designated on a form provided by the Company, or if no beneficiary is so designated, by will or the laws of descent and distribution.

 

 

(ii)           If a Participant voluntarily terminates employment (other than as a result of or pursuant to Retirement) or if a Participant is involuntarily terminated for Cause, such Participant shall forfeit his or her Restricted Stock for which the Restricted Period has not expired
on the date that the Participant voluntarily terminates employment or is involuntarily terminated for Cause.

 

 

SECTION 5A. RESTRICTED STOCK UNITS.

 

 

(a)           The number of Restricted Stock Units awarded to a Participant under the Plan will be determined in accordance with Section 4(a).  In order to reflect the impact of the restrictions on the value of
the Restricted Stock Units, as well as the possibility of forfeiture of Restricted Stock Units, the Committee shall, solely for purposes of determining the number of Restricted Stock Units to be awarded to any particular Participant, apply a discount of ten percent (10%) to the fair market value of the Stock; provided however that the Committee may, where it deems appropriate, and in its sole discretion, and for purposes of determining the number of Restricted Stock Units to be awarded to any particular Participant,
apply an alternative discount rate or no discount at all.  The dollar value of an award will be divided by the fair market value of the Stock (or by the discounted fair market value of the Stock, if applicable) to determine the number of Restricted Stock Units in an award.  For purposes of this Plan, the fair market value of Stock for an award will be the Stock’s closing price on the New York Stock Exchange or the last sale price on any other national securities exchange registered under
the Securities and Exchange Act of 1934, as amended, upon which the Stock is then listed on such date, or if the Stock was not traded on such date, on the next preceding day on which sales of shares of the Stock were reported, all as determined by the Committee.  In the event the Committee provides for alternative methods for grants of awards, the Committee, in its sole discretion, may provide for alternative methods of determining the fair market value of Stock for such awards, and may also provide
for alternative forfeiture provisions, so long as the alternative methods or provisions do not (i) materially increase the benefits, (ii) materially increase the number of Restricted Stock Units issued or (iii) materially modify the eligibility requirements applicable to Section 16(a) Persons.

 

 

(b)           A "book entry" (i.e., a computerized or manual entry) shall be made in the records of the Company to evidence an award of Restricted Stock Units to a Participant, but no "book entry" shall be made in the stock records of the Company at the time of an award of a Restricted
Stock Unit.  All Restricted Stock Units shall be recorded in an individual account for each Participant until the Restricted Period (as defined in paragraph (c) of Section 5A) has expired.  Such Company records shall, absent manifest error, be binding on the Participants.

 

 

(c)           The Restricted Stock Units awarded pursuant to this Section 5A shall be subject to the restrictions and conditions set forth in the underlying contracts with the Participants and/or as set forth in the documented
grant of any award pursuant to this Plan to the Participants.  With respect to Restricted Stock Units, the “Restricted Period” shall be the three-year period (together with any extensions thereof approved as provided herein) commencing on the date of the award; provided however that the Committee may, in its sole discretion, (x) initially provide for an alternative Restricted Period or alter the three-year Restricted Period for a previously granted award (provided that the Committee may
not extend the Restricted Period for a previously granted award without the Participant's written consent), (y) during any extension of such Restricted Period, provide for alternative restrictions (provided that nothing contained in this clause shall grant the Committee any additional powers under the Plan with respect to awards granted to or to be granted to Section 16(a) Persons), and (z) accelerate the lapse of any such restrictions in whole or in part or waive any such restrictions in whole or in part based
on such factors and such circumstances as the Committee may determine, in its sole discretion, including, but not limited to, the Participant's Retirement, termination, death or Disability.  If a Participant is subject to an employment contract with the Company or a Subsidiary which provides for a bonus deferral that is more restrictive than the Restricted Period, then the bonus deferral provisions of that employment agreement shall take precedence.

 

  

146

  

 

 

 

(d)           With respect to a Restricted Stock Unit, no certificate for shares of stock shall be issued at the time the grant is made (nor shall any "book entry" be made in the stock records of the Company) and the Participant shall have
no right to or interest in shares of stock of the Company as a result of the grant of Restricted Stock Units.

 

 

(e)           Dividend equivalents may be credited in respect of Restricted Stock Units, as the Committee deems appropriate.  Such dividend equivalents may be paid in cash or converted into additional Restricted Stock Units by dividing (1) the aggregate amount or value of the
dividends paid with respect to that number of shares of Stock equal to the number of Restricted Stock Units then credited by (2) the fair market value per share of Stock on the payment date for such dividend.  The additional Restricted Stock Units credited by reason of such dividend equivalents will be subject to all of the terms and conditions of the underlying Restricted Stock Award to which they relate.

 

 

(f)           Any shares of Stock that may be issued in satisfaction of a Restricted Stock Unit delivered under the Plan shall be delivered to the Participant in accordance with Section
9(a) promptly after (except as expressly provided for herein to the contrary), and only after, the Restricted Period shall expire (or such earlier time as the restrictions may lapse in accordance with paragraph (g) of this Section 5A) without forfeiture in respect of such Restricted Stock Unit.

 

 

(g)           Subject to the provisions of paragraph (c) of this Section 5A, the following provisions shall apply to a Participant's Restricted Stock Unit prior to the end of the Restricted Period (including extensions):

 

 

(i)           Upon the death, Disability or Retirement of a Participant, the restrictions on his or her Restricted Stock Unit shall immediately lapse.  Upon the death of a Participant, such Participant's Restricted Stock Unit shall transfer to the Participant's beneficiary
as such beneficiary is designated on a form provided by the Company, or if no beneficiary is so designated, by will or the laws of descent and distribution.

 

 

(ii)           If a Participant voluntarily terminates employment (other than as a result of or pursuant to Retirement) or if a Participant is involuntarily terminated for Cause, such Participant shall forfeit his or her Restricted Stock Units for which the Restricted Period has not
expired on the date that the Participant voluntarily terminates employment or is involuntarily terminated for Cause.

 

 

(h)           The Committee shall have the power and authority, directly or indirectly, to establish or to cause to be established a trust for purpose of purchasing Stock on the open market, holding such Stock and using such Stock to satisfy the Company’s obligations under grants
of Restricted Stock Units.  If the trust is established to satisfy the Company’s obligations with respect to grants of Restricted Stock Units to Participants resident in Canada, such trust may be structured to qualify as an "employee benefit plan" within the meaning assigned by the Income Tax Act (Canada).

 

 

SECTION 6. ADMINISTRATION.

 

 

The Plan shall be administered by the Committee which shall be appointed by the Board and which shall serve at the pleasure of the Board.

 

 

The Committee shall have the power and authority to grant Restricted Stock and Restricted Stock Units to Participants, pursuant to the terms of the Plan.

 

 

In particular, the Committee shall have the authority:

 

 

(i)           to select those employees of the Company and its Subsidiaries who are Eligible Employees;

 

 

(ii)           to determine whether and to what extent Restricted Stock or a Restricted Stock Unit is to be granted to Participants hereunder;

 

 

(iii)           to determine the number of shares of Stock to be covered by such award granted hereunder;

 

  

147

  

 

 

 

(iv)           to determine the terms and conditions, not inconsistent with the terms of the Plan, of any award granted hereunder(including, but not limited to, the Restricted Period and the other conditions of full vesting of the Restricted Stock or the Restricted Stock Units); and

 

 

(v)           to determine the terms and conditions, not inconsistent with the terms of the Plan, which shall govern all written instructions evidencing the Restricted Stock or the Restricted Stock Unit.

 

 

The Committee shall have the authority to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan as it shall, from time to time, deem advisable; to interpret the terms and provisions of the Plan and any award issued under the Plan; and to otherwise supervise the administration of the Plan.  All
decisions made by the Committee pursuant to the provisions of the Plan shall be final and binding on all persons, including the Company and the Participants.

 

 

The Committee may delegate the administrative details and management of the Plan to members of the Company’s management and staff.  No such delegation shall affect their right to make final decisions with respect to any matter arising under the Plan.

 

 

SECTION 7. ADJUSTMENTS UPON A CHANGE IN COMMON STOCK.

 

 

In the event of any change in the outstanding Stock of the Company by reason of any stock split, stock dividend, recapitalization, merger, consolidation, reorganization, combination or exchange of shares or other similar event that may equitably require an adjustment in the number or kind of shares that may be issued under the Plan pursuant
to Section 4(b), then in such event (i) appropriate adjustment shall automatically be made in the maximum number and kind of shares remaining available for issuance under the Plan, and (ii) appropriate adjustment shall automatically be made in the number or kind of shares, and in the case of a Restricted Stock Unit, the kind of property, covered by an award under the Plan.  The Committee may take any additional action it deems necessary,
in accordance with its sole discretion, to further confirm such adjustments and any such additional action shall be conclusive and binding for all purposes of the Plan.

 

 

SECTION 8. AMENDMENT AND TERMINATION.

 

 

The Plan may be amended or terminated at any time and from time to time by the Committee, subject to Board and/or stockholder approval where required by federal or state law or by applicable New York Stock Exchange rules.  Neither an amendment to the Plan nor the termination of the Plan shall adversely affect any right of any
Participant with respect to any Restricted Stock or Restricted Stock Unit theretofore granted without such Participant's written consent.

 

 

SECTION 9. GENERAL PROVISIONS.

 

 

(a)           All shares of Restricted Stock and any shares of Stock that may be issued in satisfaction of a Restricted Stock Unit delivered under the Plan after the Restricted Period has expired shall be distributed in accordance with the instructions of each Participant.  Such
shares of Stock shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which the Stock is then listed, and any applicable federal or state securities law.

 

 

(b)           Nothing contained in the Plan shall prevent the Board from adopting other or additional compensation arrangements, subject to stockholder approval if such approval is required; and such arrangements may be either generally applicable or applicable only in specific cases.  The
adoption of the Plan shall not confer upon any employee of the Company or any Subsidiary any right to continued employment with the Company or a Subsidiary, as the case may be, nor shall it interfere in any way with the right of the Company or a Subsidiary to terminate the employment of any of its employees at any time.

 

 

(c)           No member of the Board or the Committee, nor any officer or employee of the Company acting on behalf of the Board or the Committee, shall be personally liable for any action, determination, or interpretation taken or made in good faith with respect to the Plan, and all
members of the Board or the Committee and each and any officer or employee of the Company acting on their behalf shall, to the extent permitted by law, be fully indemnified and protected by the Company in respect of any such action, determination or interpretation.

 

  

148

  

 

(d)           During the Restricted Period, a Participant's rights and interest under the Plan may not be assigned or transferred in whole or in part either directly or by operation of law or otherwise (except in the event of a Participant's death) including, but not by way of limitation,
execution, levy, garnishment, attachment, pledge, bankruptcy or in any other manner and no such right or interest of any Participant in the Plan shall be subject to any obligation or liability of such Participant.

 

 

(e)           The Company and its Subsidiaries shall have the right to deduct from any payment made under the Plan or otherwise payable as compensation to a Participant any federal, state, provincial or local income or other taxes required by law to be withheld with respect to such
payment or payments to be made under the Plan.  It shall be a condition to the obligation of the Company to issue Stock upon the lapse of restrictions on Restricted Stock and a condition to the issuance of any shares of Stock to satisfy a Restricted Stock Unit upon the lapse of restrictions on the Restricted Stock Unit that the Participant (i) pay to the Company, upon its demand, such amount as may be requested by the Company for the purpose of satisfying any liability to withhold federal, state, provincial
or local income or other taxes and (ii) provide the Company with a copy of the election, if required, under Section 83 of the Code, or any amendment thereto (the "Section 83 Election") as filed with the Internal Revenue Service..  If the amount requested is not paid and the copy of the Section 83 Election, if required, is not provided,, the Company may refuse to issue shares of Stock until such time as the Participant so complies.  Unless the Committee shall in its sole discretion determine
otherwise, payment for taxes required to be withheld may be made in whole or in part, by an election by a Participant in accordance with rules adopted by the Committee from time to time to have the Company withhold Stock otherwise issuable pursuant to the Plan having a fair market value equal to such tax liability, to be determined in such reasonable manner as may be provided for from time to time by the Committee or as may be required in order to comply with or to conform to the requirements of any applicable
or relevant laws or regulations.

 

 

(f)           The Plan is intended to comply with all applicable conditions of Rule 16b-3 of the 1934 Act or any successor statute, rule or regulation.  All transactions involving any Section 16(a) Person
shall be subject to the conditions set forth in Rule 16b-3, regardless of whether such conditions are expressly set forth in the Plan.  Any provision of the Plan which is contrary to Rule 16b-3 shall not apply to Section 16(a) Persons.

 

 

SECTION 10. EFFECTIVE DATE OF PLAN.

 

	  

	
Amended and Restated 2007 Stock Bonus Plan.DOC-3749059v5

 

 

 

The Plan shall be effective as of the date of approval of the Plan by the Committee and the Board or such other date as the Committee and the Board may so determine, the Original Plan having previously been approved by the shareholders of the Company and the Board.

 

  

149loanagreement.htm

  

CONFIDENTIAL

 

LOAN AGREEMENT

 

This Loan Agreement (as amended, restated, modified or otherwise supplemented from time to time, this “Agreement”) is entered into as of November 25th, 2009 (the “Agreement
Date”), by and among Micron Semiconductor B.V., a private limited company organized under the laws of The Netherlands (the “Borrower”), Micron Technology, Inc., a corporation organized under the laws of the State of Delaware, U.S.A. (the “Guarantor”),
and Mai Liao Power Corporation, a company incorporated under the laws of the Republic of China (the “Lender”).

 

RECITALS

 

A. WHEREAS, on October 11, 2008, Qimonda AG, a company incorporated under the laws of Germany (“Qimonda”), Qimonda Holding B.V., a private limited company organized under the laws of The Netherlands, the Borrower
and the Guarantor entered into a Share Purchase Agreement, a copy of which is attached hereto as Exhibit A (the “Share Purchase Agreement”), pursuant to which, Qimonda and its Affiliates sold to the Borrower, a Subsidiary of the Guarantor, 1,184,088,059 shares of common stock of Inotera Memories, Inc., a company limited by shares under the laws of the Republic of China (the “Company”),
owned of record by Qimonda and/or its Affiliates (as such shares may be adjusted, increased or decreased as a result of a stock split, reverse stock split or reclassification, the “Shares”).

 

B. WHEREAS, Nanya Technology Corporation, a company incorporated under the laws of the Republic of China (“NTC”), has committed to, either individually or through one or more of its affiliates, provide a two-year
loan to the Borrower in support of the proposed acquisition per a Commitment Letter dated October 11, 2008 (such letter as amended or supplemented, the “Commitment Letter”).

 

C. WHEREAS, in partial fulfillment of NTC’s obligation under the Commitment Letter, Nanya Plastic Corporation ("NPC"), as an Affiliate of NTC, extended a loan facility to the Borrower and entered in a Loan Agreement on
November 26, 2008 (the "NPC Loan Agreement") with the Borrower and the Guarantor to provide a one-year loan to the Borrower (the "NPC Loan"). .

 

D. WHEREAS, the NPC Loan will be due on November 25, 2009. In full fulfillment of NTC's obligation under the Commitment Letter to provide such two-year loan to the Borrower, the Lender, as an Affiliate of NTC, hereby agrees to extend a loan facility to the Borrower and the Borrower
hereby agrees to borrow the same from the Lender to repay the NPC Loan.

 

E. WHEREAS, the Guarantor is willing to guarantee all of the Borrower's obligations hereunder, and the Borrower will, and the Guarantor will cause its Subsidiary who owns part of the Shares to, pledge in favor of the Lender
all of the Shares as security to secure the due and punctual performance of all of the Borrower's obligations hereunder and under the NPC Loan Agreement.

 

 

1

 

CONFIDENTIAL

F. WHEREAS, the Lender shall, subject to the terms and conditions of this Agreement, be and remain the holder of the Loan and agrees that the Loan is intended to satisfy the requirements of Section 881(c)(2) of the Internal Revenue Code and Section 1.871-14 of the Treasury Regulations.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

1. DEFINITION.

 

1.1 Defined Terms.

 

“Affiliate” means, with respect to any specified Person, any other Person that, directly or indirectly, including through one or more intermediaries, controls, is controlled by, or is under common control with such specified Person.

 

“Agreement” shall have the meaning set forth in the preamble of this Agreement.

 

“Agreement Date” shall have the meaning set forth in the preamble of this Agreement.

 

“Applicable Law” means any applicable laws, statutes, rules, regulations, ordinances, orders, codes, arbitration awards, judgments, decrees or other legal requirements of any Governmental Entity.

 

“Borrower” shall have the meaning set forth in the preamble of this Agreement.

 

“Business Day” means a day that is not a Saturday, Sunday or other day on which commercial banking institutions in the ROC are authorized or required by Applicable Law to be closed.

 

“Collateral” shall have the meaning set forth in Section 5.1 of this Agreement.

 

“Confidential Information” shall have the meaning set forth in Section 10.16(a) of this Agreement.

 

“Commitment Letter” shall have the meaning set forth in the Recitals to this Agreement.

 

“Company” shall have the meaning set forth in the Recitals to this Agreement.

 

   “Control” (whether or not capitalized) means the power or authority, whether exercised or not, to direct the business, management and policies of a Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise,
which power or authority shall conclusively be presumed to exist upon possession of beneficial ownership or power to direct the vote of more than fifty percent (50%) of the votes entitled to be cast at a meeting of the members, shareholders or other equity holders of such Person or power to control the composition of a 

 

2

 

CONFIDENTIAL

 

majority of the board of directors or like governing body of such Person; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

 

“Drawdown Date” means November 25, 2009, the date on which the Lender makes available and releases the Loan to the Borrower.

 

“Event of Default” means any of the events described in Section 9.1 of this Agreement.

 

“GAAP” means generally accepted accounting principles, consistently applied for all periods at issue.

 

    “Governmental Entity” means any governmental authority or entity, including any agency, board, bureau, commission, court, municipality, department, subdivision or instrumentality thereof, or any arbitrator or arbitration panel.

 

“Guarantee” shall have the meaning set forth in Section 4.1 of this Agreement.

 

“Guarantor” shall have the meaning set forth in the preamble of this Agreement.

 

 “Internal Revenue Code” means the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder.

 

“Interest Period” means three (3) months.

 

“Lender” shall have the meaning set forth in the preamble of this Agreement.

 

“Loan” shall have the meaning set forth in Section 2.1(a) of this Agreement.

 

“Loan Documentation” means this Agreement and the Pledge Agreement.

 

“Material Adverse Effect” means a material adverse effect on (a) the business, operations, property, or condition (financial or otherwise) of the Guarantor and its Subsidiaries taken as a whole; (b) the ability of the Borrower or the Guarantor to perform its obligations
under the Loan Documentation to which it is a party; or (c) the legality, validity or enforceability of the Loan Documentation or the rights or remedies of the Lender under any of the Loan Documentation.

 

“Maturity Date” has the meaning set forth in Section 2.2(a) of this Agreement.

 

“Micron Technology Asia Pacific” means Micron Technology Asia Pacific, Inc., an Idaho corporation.

 

“Month” means a period starting on one day in a calendar month and ending on the numerically corresponding day in the next calendar month, except that:

 

3

 

CONFIDENTIAL

 

(a)           subject to paragraph (c) below, if the numerically corresponding day is not a Business Day, that period shall end on the next Business Day in that calendar month in which that period is to end if there is one, or if there is not, on the immediately preceding Business
Day;

 

(b)           if there is no numerically corresponding day in the calendar month in which that period is to end, that period shall end on the last Business Day in that calendar month; and

 

(c)           if an Interest Period begins on the last Business Day of a calendar month, that Interest Period shall end on the last Business Day in the calendar month in which that Interest Period is to end.

 

The above rules will apply only to the last Month of any period.

 

“NPC” shall have the meaning set forth in the Recitals to this Agreement.

 

“NPC Loan” shall have the meaning set forth in the Recitals to this Agreement.

 

“NPC Loan Agreement” shall have the meaning set forth in the Recitals to this Agreement.

 

“NTC” shall have the meaning set forth in the Recitals to this Agreement.

 

“Permitted Liens” means (a) liens for taxes not yet delinquent or liens for taxes being contested in good faith and by appropriate proceedings for which adequate reserves have been established to the extent required by U.S. GAAP; (b) liens in respect of property or assets
imposed by law which were incurred in the ordinary course of business, which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings; and (c) liens in favor of the Lender; provided that, in the case of a lien described in the foregoing clause (a) or (b), such lien does not have priority over the liens granted to
the Lender under the Pledge Agreement.

 

“Person” means any natural person, corporation, joint stock company, limited liability company, association, partnership, firm, joint venture, organization, business, trust, estate or any other entity or organization of any kind or character.

 

“Pledge” shall have the meaning set forth in Section 5.1 of this Agreement.

 

“Pledge Agreement” shall have the meaning set forth in Section 5.1 of this Agreement.

 

“Pledgor” shall have the meaning set forth in Section 5.1 of this Agreement.

 

“Potential Event of Default” means any event or circumstance that with the giving of notice or the passage of time (or both) would constitute an Event of Default.

 

“Qimonda” shall have the meaning set forth in the Recitals to this Agreement.

 

“ROC” means the Republic of China.

 

4

 

CONFIDENTIAL

 

“Share Purchase Agreement” shall have the meaning set forth in the Recitals to this Agreement.

 

“Shares” shall have the meaning set forth in the Recitals of this Agreement.

 

“Subsidiary” means with respect to any specified Person, any other Person that, directly or indirectly, including through one or more intermediaries, is controlled by such specified Person.

 

“TDCC” means the Taiwan Depository & Clearing Corporation.

 

“Taxes” includes any tax, levy, duty, charge, impost, fee, deduction or withholding of any nature now or hereafter imposed, levied, collected, withheld or assessed by any taxing or other authority and includes any interest, penalty or other charge payable or claimed
in respect thereof.

 

“Term” shall
have the meaning set forth in Section 10.4 of this Agreement.

 

“TTLA” means the Technology Transfer and License Agreement for 68-50NM Process Nodes, made and entered into as of April 21, 2008, by and between the Guarantor and NTC, as amended, amended and restated, modified or otherwise supplemented from time to time.

 

“Unwind Event” shall have the meaning set forth in Section 9.5 of this Agreement.

 

1.2 Certain Interpretive Matters.

 

(a) Unless the context requires otherwise, (i) all references to Sections, Articles or Exhibits are to Sections, Articles or Exhibits of or to this Agreement, (ii) each accounting term not otherwise
defined in this Agreement has the meaning commonly applied to it in accordance with ROC GAAP, (iii) words in the singular include the plural and vice versa, (iv) the term “including” means “including without limitation,” and (v) the terms “herein,” “hereof,” “hereunder”
and words of similar import shall mean references to this Agreement as a whole and not to any individual section or portion hereof.  Unless otherwise denoted, all references to “$” or dollar amounts will be to lawful currency of the United States of America.  All references to “day” or “days”
mean calendar days.

 

(b) No provision of this Agreement will be interpreted in favor of, or against, any party hereto by reason of the extent to which (i) such party or its counsel participated in the drafting thereof,
or (ii) such provision is inconsistent with any prior draft of this Agreement or such provision.

 

2.  TERMS OF LOAN AND REPAYMENT.

 

2.1 Provision of Loan.

 

(a) Subject to the terms and conditions of this Agreement, the Lender shall make available a loan facility to the Borrower in the principal amount of two hundred million U.S. dollars ($200,000,000)
(the “Loan”) and the Borrower agrees to borrow the Loan.

 

5

 

CONFIDENTIAL

 

(b) Subject to the Borrower's satisfaction or the Lender’s waiver of the conditions set forth in Article 6 of this Agreement, the Lender shall make available and release the entire principal
amount of the Loan to the Borrower on November 25th, 2009 (the "Drawdown Date") by wire transfer to the account agreed in advance by the Parties, the details of which is set forth in a writing delivered by the Borrower to the Lender.

 

(c) Upon the release of the Loan by the Lender, the Borrower shall immediately remit the same amount directly to the bank account designated by NPC.

 

    2.2 Maturity of
the Loan. The Borrower shall repay the Loan in full on the first anniversary of the Drawdown Date, i.e., November 24th, 2010 (the “Maturity Date”), unless the Loan is accelerated pursuant to this Agreement.

 

2.3 Use of Proceeds.  All proceeds of the Loan shall be exclusively used to repay the NPC Loan in the principal amount of
two hundred million U.S. dollars ($200,000,000).  The Borrower and the Guarantor agree that if the Borrower fails to repay the NPC Loan in full on the Drawdown Date, NPC may immediately assign any or all of its rights under the NPC Loan Agreement to the Lender.

 

2.4 Repayment Mechanics.  All repayments hereunder shall be made by wire transfer of such amounts in immediately available
funds denominated in U.S. dollars to the Lender, at such place and to such account as the Lender shall designate in a written notice to the Borrower.  Payments shall be credited first to costs and expenses due and payable hereunder (including the costs incurred under Sections 9.3), then to the accrued interest then due and payable and the remainder applied to principal.  The Loan may be prepaid, without penalty or premium, in whole or in part from time to time, provided that:

 

(a) Notice: the Borrower shall have given the Lender not less than three (3) Business Days’ (or such shorter period as may be agreed between the Borrower and the Lender) prior written notice
specifying the amount to be prepaid and the date of prepayment; and

 

(b) Interest: the Borrower shall concurrently pay accrued and unpaid interest on the full amount of the Loan to be prepaid on the date of such prepayment.

 

2.5 Taxes.

 

(a) All payments to be made by the Borrower or the Guarantor to the Lender under the Loan Documentation shall be made free and clear of any deduction or withholding on account of any Taxes.  If
the Borrower, the Guarantor or any other person is required by any law or regulation to make any such deduction or withholding, the Borrower or the Guarantor (as applicable) shall (i) pay such deducted or withheld amount to the applicable tax authorities and, promptly upon the Lender’s request, deliver to the Lender the certificate or receipt evidencing such payment and (ii) pay such additional amount as will ensure that the Lender receives and is entitled to retain, free and clear of any such deduction
or withholding, the full amount which it would have received if no such deduction or withholding had been required.

 

6

 

CONFIDENTIAL

 

Without limiting the foregoing, if the Lender or any other person on the Lender's behalf is required by any law or regulation to make a payment on account of any such withholding Tax or incurs any liability in respect thereof, the Borrower or the Guarantor (as applicable) shall, within ten (10) Business Days after demand by the Lender (which demand
shall provide a calculation in reasonable detail of such payment), indemnify the Lender against such payment or liability and any interest, penalty or expense payable or incurred in connection therewith.  The obligations of the Borrower and the Guarantor under this Section 2.5(a) are subject to (i) the Lender executing any applicable tax withholding forms (Form W-8BEN or its equivalent or any other form prescribed by law as a basis for claiming exemption from or reduction in withholding tax) as reasonably
requested by the Borrower, Guarantor or the United States Internal Revenue Service for United States taxation purposes, together with such supplementary documentation necessary to allow the Borrower to determine whether the withholding or deduction is required to be made, and (ii) the representation and covenant contemplated by Section 10.13 being true and complied with. The Lender agrees to use its commercially reasonable efforts, at the cost and expense of the Borrower and/or Guarantor, to otherwise assist
the Borrower and/or the Guarantor to obtain the exemption status for any such deduction or withholding.  Nothing in this Section 2.5 shall require the Borrower or the Guarantor to make any payment on or indemnify the Lender for any Taxes imposed on or measured by the Lender’s overall net income (however denominated) and franchise Taxes imposed on the Lender under applicable ROC laws.

 

(b)  If the Lender determines that it has received a refund of, or reduction in its liability for, any Taxes as a result of amounts paid or withheld by the Borrower and/or the Guarantor pursuant
to this Section 2.5, the Lender shall pay over such refund or reduction to the Borrower and/or the Guarantor (but only to the extent of the amounts paid or withheld by the Borrower and/or the Guarantor under this Section 2.5 with respect to the Taxes giving rise to such refund or reduction), net of all out-of-pocket expenses of the Lender and without interest (other than any interest paid by the relevant governmental authority with respect to such refund or reduction), provided that the
Borrower and/or the Guarantor, upon the request of the Lender, agrees to repay the amount paid over to the Borrower and/or the Guarantor to the Lender in the event the Lender is required to repay such refund or reduction to such Governmental Entity.  This Section 2.5 shall not be construed to require the Lender to make available its tax returns (or any other information relating to its Taxes that it deems confidential) to the Borrower and/or the Guarantor or any other person.

 

3. INTEREST.

 

3.1 Calculation of Interest.  The rate of interest on the Loan for each Interest Period shall be the percentage rate per
annum, which is the aggregate of the applicable three-month LIBOR and a margin of two percent (2%), rounded up to the nearest fourth decimal point.  For the purpose of this Section 3.1, LIBOR shall mean (a) the British Bankers’ Association’s London Interbank Offered Rate for U.S. dollars for a tenor equal to (or most comparable to) the Interest Period displayed on the Reuters Screen Page 3750 at 11:00 a.m. (Taipei time) on the date which is two (2) Business Days prior to the commencement
of the applicable Interest Period or (b) if the rate specified in clause (a) is not available for any reason, 

 

7

 

CONFIDENTIAL

 

the offer rate for U.S. dollars for a tenor equal to (or most comparable to) the Interest Period displayed on Reuters Screen Page TAIFX3 at 11:00 a.m. (Taipei time) on the date which is two (2) Business Days prior to the commencement of the applicable Interest Period.

 

3.2 Interest Period.  The initial Interest Period shall commence on the Drawdown Date, with each successive Interest Period
commencing on the last day of the prior Interest Period.

 

3.3 Payment of Interest.  The Borrower shall pay accrued interest in arrears on the Loan on the last day of each Interest
Period, and the amount of interest shall be computed on the basis of the actual number of days elapsed (including the first day but excluding the last day of such Interest Period) and a year of three hundred and sixty (360) days.

 

3.4 Past Due Rate.  If the Borrower fails to pay any amount payable by it under the Loan on its due date, past due interest
shall accrue on such unpaid amount at the rate of 10% per annum from the due date up to the date of actual payment of the unpaid amount (both before and after judgment). The Borrower shall pay past due interest (if unpaid) accruing on an unpaid sum at the end of each Interest Period applicable to that unpaid sum or on demand of the Lender.

 

4. GUARANTEE.

 

4.1 Guarantee.  The Guarantor hereby fully and unconditionally guarantees the due and punctual payment of all amounts payable
by the Borrower under this Agreement (the “Guarantee”), in each case when and as the same shall become due and payable, and, in each case, in accordance with the terms of this Agreement.  The Guarantor hereby expressly waives its right to require the Lender to pursue or exhaust its legal or equitable remedies against the Borrower prior to exercising its rights hereunder against the Guarantor.

 

4.2 Joint and Several Liability.  The Guarantor hereby agrees that its obligations hereunder shall be as if it were the principal
debtor and not merely surety, and shall be absolute and unconditional, irrespective of, and unaffected by, any invalidity, irregularity or unenforceability of the Loan Documentation, any failure to enforce the provisions of the Loan Documentation, any waiver, modification or indulgence granted to the Borrower with respect thereto by the Lender, or any other circumstance that may otherwise constitute a legal or equitable discharge of a surety or guarantor.  Except as otherwise expressly provided in the
Loan Documentation, the Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Borrower, any right to require a proceeding first against the Borrower or the Collateral, protest or notice with respect to any indebtedness evidenced thereby or hereby and all demands whatsoever, and covenants that the Guarantee of the Guarantor will not be discharged with respect to the Loan Documentation except by payment in full of all amounts
owing in respect thereof.  If at any time any payment under the Loan Documentation is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower, the Guarantor's obligations hereunder with respect to such payment shall be reinstated as of the date of such recession, restoration or return as though such payment had become due but had not been made at such time.

 

8

 

CONFIDENTIAL

 

5. PLEDGE AND SECURITY INTEREST.

 

5.1 Pledge of the Shares.

 

(a) Without prejudice to and in addition to Lender’s right toward the Guarantor under Article 4 of this Agreement, as security for the performance in full of the obligations of the Borrower
and the Guarantor under this Agreement, the Borrower, Micron Technology Asia Pacific (each, a “Pledgor” and collectively, the “Pledgors”) and the Lender shall enter into a share pledge agreement in the form and substance attached hereto as Exhibit B (the “Pledge
Agreement”) and the Pledgors shall create a first priority security interest maximum amount pledge in favor of the Lender in an amount not to exceed five hundred million U.S. dollars ($500,000,000), which amount shall be decreased to two hundred fifty million U.S. dollars ($250,000,000) when the Borrower repays the NPC Loan in full on the Drawdown Date (the “Pledge”), in all of the right, title and interest of the Pledgors in and
to (i) all of the Shares, and (ii) all rights and privileges of the Pledgors, whether now owned or hereafter acquired, with respect to the Shares, all proceeds, income and profits thereof and all property received in exchange or substitution therefore (items (i) and (ii) collectively, the “Collateral”).

 

(b) Upon the signing of this Agreement, the Pledgors shall, or shall cause their respective custodian bank to, immediately apply for the book-entry pledge of the Shares and perfect the Pledge on the
same day such Pledge creation application is filed.

 

6. CONDITIONS PRECEDENT.

 

The Lender shall only be obligated to provide the Loan when each of the following conditions has been satisfied:

 

(a) The Lender shall have received this Agreement duly executed and delivered by the Borrower and the Guarantor.

 

(b) The Lender shall have received the Pledge Agreement, duly executed and delivered by the Pledgors, granting to the Lender, for its benefit, a security interest in the Collateral described therein
together with such financing and assignment documents as may be provided in the Pledge Agreement and evidence reasonably satisfactory to the Lender with respect to the Lender’s first priority security interest in the Collateral.

 

(c) The Lender shall have received certified copies of all action taken by the Borrower and/or the Guarantor authorizing the execution, delivery and performance of the Loan Documentation.

 

(d) The creation and perfection of the Pledge in a timely manner as set forth in Section 5.1 of this Agreement shall have been completed, which might be evidenced by any notices and acknowledgements
required to perfect or give effect to the security created under the Loan Documentation, including, but not limited to, a securities passbook/statement produced by the securities agent of the Lender evidencing the creation of the Pledge.

 

9

 

CONFIDENTIAL

 

(e) No Event of Default or Potential Event of Default shall have occurred and be continuing.

 

7. REPRESENTATIONS AND WARRANTIES.

 

Each of the Borrower and the Guarantor represents and warrants, jointly and severally, to the Lender that each of the representations, warranties and statements contained in the following Sections of this Article 7 is true and correct as of the Agreement Date.

 

7.1 Organization; Good Standing and Qualification.  The Borrower is a private limited liability company duly incorporated
and validly existing under the laws of The Netherlands. The Guarantor is a corporation duly incorporated and validly existing under the laws of the State of Delaware.  Each of the Borrower and the Guarantor has all requisite corporate power and authority to own, lease and operate its properties and assets that it currently owns, leases or operates and to carry on its business as now conducted and as presently proposed to be conducted.

 

7.2 Authorization.  All corporate action on the part of the Borrower and the Guarantor, their respective officers, directors
and stockholders necessary for the authorization, execution and delivery of the Loan Documentation to which it is a party and the performance of all obligations of the Borrower and the Guarantor hereunder has been taken.  Each of the Loan Documentation to which it is a party constitutes a valid and legally binding obligation of the Borrower and the Guarantor, as the case may be, enforceable against the Borrower and the Guarantor in accordance with its terms, except to the extent that the enforceability
thereof may be limited by applicable bankruptcy, insolvency, moratorium, and other laws affecting creditor’s rights generally and by equitable principles (regardless of whether enforcement is sought in equity or at law).

 

7.3 Governmental Consents.  No consent, approval, order or authorization of, or registration, qualification, designation,
declaration or filing with, any Governmental Entity on the part of the Borrower or the Guarantor is required in connection with the consummation of the transactions contemplated by the Loan Documentation except as have been made or obtained (it being understood that no representation or warranty is being made as to any such consents, approvals, orders, authorizations, registrations, qualifications, designations or filings which may be required in connection with the exercise by Lender of any of its rights and
remedies against the Collateral).

 

7.4 Non-conflict With Other Obligations.  The entry into and performance by the Borrower and/or the Guarantor of the Loan
Documentation to which it is a party, and the consummation by them of the transactions contemplated thereby, do not and will not conflict with or result in a breach of, as the case may be:

 

(a) any law or regulation applicable to it;

 

(b) its constitutional documents;

 

10

 

CONFIDENTIAL

 

(c) any material agreement or instrument binding upon it or any of its assets; and

 

(d) any of its borrowing limits or powers or any power exercisable by its directors in connection therewith;

 

except, in each case where such conflict or breach would not reasonably be expected to have a Material Adverse Effect.

 

7.5 No Default.  No Event of Default is continuing or would reasonably be expected to result from the making of the Loan.

 

7.6 No Winding-up.  Each of the Borrower and the Guarantor has not taken any corporate action, nor have any other steps been
taken or legal proceedings been started or threatened in writing against it, for its winding-up, dissolution or administration or for the appointment of a receiver, administrator, administrative receiver, trustee or similar offices of it or of any or all of its assets or revenues.

 

7.7 Ownership of the Shares.  Each Pledgor is the record and beneficial owner of the Shares held by it, which are free and
clear of any lien, security interest, charge, encumbrance or claim (other than Permitted Liens and the pledge in favor of NPC) and each Pledgor has the power and capacity to execute, deliver and perform the Loan Documentation to which it is a party and to create the Pledge in favor of the Lender; provided that neither the Borrower, the Guarantor nor any Pledgor shall be responsible
for any defect in title of the Shares that results, directly or indirectly, from a bankruptcy or other insolvency with respect to any of Qimonda or its Affiliates.

 

7.8 Effective Pledge.  The provisions of the Pledge Agreement and registration of the Pledge with the TDCC will be effective
to create in favor of the Lender a valid, binding and enforceable security interest in all of each Pledgor’s right, title and interest of the Collateral, and constitute a fully perfected first priority pledge in all right, title and interest of such Pledgor in such collateral, superior in right to any liens which any third Person may have against such collateral or interests therein; provided that neither
the Borrower, the Guarantor nor any Pledgor shall be responsible for any defect with respect to the Pledge that results, directly or indirectly, from a bankruptcy or other insolvency with respect to any of Qimonda or its Affiliates.

 

8. COVENANTS.

 

    So long as any amount under the Loan Documentation is outstanding, the Borrower and the Guarantor hereby jointly and severally agree to:

 

8.1 Authorizations.  Obtain when required, make and keep in full force and effect all authorizations from and registrations
with any Governmental Entity and other Persons that may be required to enable the Borrower and the Guarantor to own their respective assets and carry on their respective business from time to time being conducted, except where the 

 

11

 

CONFIDENTIAL

 

failure to so obtain or keep in effect would not materially impair such party’s ability to perform such party’s obligations under the Loan Documentation to which such party is a party, and to perform their respective obligations under any Loan Documentation to which the Borrower
or the Guarantor, as applicable, is a party and to ensure the legality, validity, and enforceability of such Loan Documentation.

 

8.2 Necessary Acts.  Upon request by the Lender, do or procure the doing of all such acts and execute or procure the execution
of all such documents as the Lender may reasonably consider necessary for giving full effect to the Loan Documentation or securing to the Lender the full benefits of all rights, powers and remedies conferred upon the Lender in the Loan Documentation.

 

8.3 Financial Statements and Other Information.  With respect to the Guarantor, deliver to the Lender the following in English:
(a) copies of the Guarantor’s Annual Report on Form 10-K and Quarterly Report on Form 10-Q promptly after any such report is filed by the Guarantor with the United States Securities and Exchange Commission; and (b) copies of all documents or other information sent by the Guarantor to its stockholders generally.  All financial statements delivered by the Guarantor pursuant to this Section 8.3 shall be prepared under U.S. GAAP.  Any report, document or information contemplated by the foregoing
sentence that is available on the U.S. Securities and Exchange Commission’s website shall be deemed to have been delivered by the Guarantor to the Lender.

 

8.4 Notification of Defaults.  Promptly notify the Lender upon the Chief Executive Officer, Chief Operating Officer, Chief
Financial Officer, the Treasurer or General Counsel of the Guarantor obtaining knowledge of the occurrence of any default or Event of Default hereunder or of any default under the Pledge Agreement.

 

8.5 Inspection.  Grant the Lender, its representatives, agents and/or advisors, the right to reasonable access to inspect
the facilities and books of the Borrower and the Guarantor.  Notwithstanding anything to the contrary in this Agreement, neither the Borrower nor the Guarantor will be required to disclose, permit the inspection or examination of, any document, information or other matter that (i) constitutes non-financial trade secrets or non-financial proprietary information, (ii) in respect of which disclosure to the Lender (or its designated representative) is then prohibited by Applicable Law or any agreement
binding on the Borrower, the Guarantor or any of their Subsidiaries or (iii) is subject to attorney-client or similar privilege or constitutes attorney work product.

 

8.6 Compliance with Laws.  Procure that each of the Borrower
and the Guarantor shall comply in all material respects with all laws to which such party may be subject, if failure so to comply would materially impair such party’s ability to perform such party’s obligations under the Loan Documentation to which such party is a party.

 

8.7 Environmental Compliance. Comply
in all material respects with all applicable environmental laws, obtain and maintain any environmental permits necessary to the Borrower’s or the Guarantor’s business and take all reasonable steps in anticipation of known or 

 

12

 

CONFIDENTIAL

 

expected future changes to or obligations under environmental law or any environmental permits, in each case where the failure to do so could reasonably be expected to have a Material Adverse Effect.

 

8.8 Taxes.  Pay and discharge all material taxes, assessments and governmental charges or levies whatsoever imposed on the
Borrower or the Guarantor or on its income or profits or on any of the property of the Borrower or the Guarantor prior to the date on which penalties attach thereto, and timely file all returns relating thereto, except to the extent that any such tax, assessment, governmental charge, levy or claim is being contested in good faith and by appropriate proceedings and for which adequate segregated reserves have been established therefore to
the extent required by U.S. GAAP or where the failure to so pay, discharge or file would not materially impair such party’s ability to perform such party’s obligations under the Loan Documentation to which such party is a party.

 

8.9 Maintenance of Insurance.  Maintain or procure to be maintained with reputable insurers insurances on and in relation
to its business and assets:

 

(a) against those risks customarily insured against by prudent companies carrying on a similar business; and

 

(b) against those risks required by Applicable Law.

 

8.10 Maintenance of Property.  Procure that each of the Borrower
and the Guarantor will maintain and preserve in good working order (ordinary wear and tear excepted) all of the assets necessary to the conduct of its business from time to time, except where the failure to do so would not materially impair such party’s ability to perform such party’s obligations under the Loan Documentation to which such party is a party.

 

9. EVENTS OF DEFAULT.

 

9.1 Events of Default.  The occurrence and continuance of any of the following shall constitute an Event
of Default under this Agreement:

 

(a) the Borrower’s or Guarantor’s failure to make any payment of principal, interest or any other amount payable hereunder when due under the Loan Documentation and such failure continues
unremedied for three (3) Business Days in the case of payments of principal or five (5) Business Days in the case of interest or any such other amount;

 

(b) the Borrower’s or Guarantor’s failure to duly and punctually perform
its material obligations or covenants under the Loan Documentation and such failure continues for 30 days after the Lender provides written notice thereof to the Borrower and the Guarantor;

 

(c) any representation, warranty or statement made or deemed to be made by the Borrower or the Guarantor in the Loan Documentation is or proves to have been incorrect or misleading in any material
respect when made;

 

13

 

CONFIDENTIAL

 

(d) the filing of a petition by or against the Borrower or the Guarantor under any provision of any law relating to bankruptcy, insolvency or other relief for debtors; and in the case of any such
petition filed against the Borrower or the Guarantor, such petition remains unstayed or undismissed for a period of sixty (60) days; or appointment of a receiver, trustee, custodian or liquidator of or for all or any part of the assets or property of the Borrower or the Guarantor; or the insolvency of the Borrower or the Guarantor; or the making of a general assignment for the benefit of creditors by the Borrower or the Guarantor;

 

(e) any Loan Documentation, once executed and delivered, ceases to be in full force and effect or ceases to be effective to create the security interest;

 

(f) any actual or asserted invalidity or unenforceability by the Borrower or the Guarantor of the Guarantee or the Pledge; and

 

(g) the Borrower’s failure to repay the NPC Loan in full on the Drawdown Date.

 

9.2 Remedies.  Upon the occurrence and during the continuance of any Event of Default, the Lender, at its option, may:  (i)
by notice to the Borrower and the Guarantor, declare the unpaid principal amount of the Loan, all interest accrued and unpaid thereon and all other amounts payable hereunder to be immediately due and payable, whereupon the unpaid principal amount of the Loan, all such interest and all such other amounts shall become immediately due and payable, without presentment, demand, protest or further notice of any kind, provided that if
an event described in Section 9.1(d) or (g) above shall occur without the giving of any such notice and (ii) upon the acceleration of the Loan, exercise its rights and remedies under the Pledge Agreement.

 

9.3 Costs.  The Borrower and the Guarantor agree to pay on demand all of the losses, costs and expenses (including reasonable
attorneys' fees and disbursements) that the Lender incurs in connection with enforcement of the Loan Documentation, the protection or preservation of the Lender's rights under the Loan Documentation or collection of amounts due under the Loan Documentation, whether by judicial proceeding or otherwise.  Such costs and expenses include those incurred in connection with any refinancing, or any bankruptcy, insolvency, liquidation or similar proceedings.

 

9.4 Waivers.  Except as otherwise set forth herein or in the Loan Documentation, the Borrower and the Guarantor hereby waive
diligence, demand, presentment, protest or notice of any kind in connection with the exercise by the Lender of its rights under the Loan Documentation.  The Borrower and the Guarantor agree to make all payments under the Loan Documentation without setoff (except as may be requested by the Lender) or deduction and regardless of any counterclaim or defense.

 

9.5 Unwind Event.  Notwithstanding anything to the contrary contained in the Loan Documentation, the Borrower, the Guarantor
and the Lender acknowledge that if the Borrower, the Guarantor and/or Micron Technology Asia Pacific is required to return or 

 

14

 

CONFIDENTIAL

 

disgorge any of the Shares acquired under the Share Purchase Agreement (an “Unwind Event”), such Unwind Event shall not give rise to a basis for a claim of breach of a representation, non-compliance or default or Event of Default under the Loan Documentation.  If an Unwind
Event occurs, neither the Borrower nor the Guarantor nor Micron Technology Asia Pacific shall have an obligation to provide any additional collateral to the Lender and Lender’s interest in the Shares shall be limited to the interest, if any, the Borrower or Micron Technology Asia Pacific has in the Shares as a result of the Unwind Event.

 

10. GENERAL PROVISIONS.

 

10.1 Notices.  All notices and other communications hereunder shall be in writing and shall be deemed duly given upon (a)
transmitter’s confirmation of a receipt of a facsimile transmission, (b) confirmed delivery by a standard overnight or recognized international carrier or when delivered by hand, or (c) delivery in person, addressed at the following addresses (or at such other address for a party as shall be specified by like notice):

 

(a) if to Borrower, to:

	
  
	 

Micron Semiconductor B.V.

8000 South Federal Way

Boise, Idaho  83716-9632

Fax:  (208) 363-1309

Attention:  General Counsel

With a copy to:

Micron Technology, Inc.

8000 South Federal Way

Boise, Idaho  83716-9632

Fax:  (208) 368-4095

Attention: Treasurer

With a copy to:

Wilson Sonsini Goodrich & Rosati, P.C.

650 Page Mill Road

Palo Alto, California 94304

Fax:  (650) 493-6811

Attention:  John A. Fore, Esq.

 

(b) if to Guarantor, to:

Micron Technology, Inc.

8000 South Federal Way

Boise, Idaho  83716-9632

Fax:  (208) 363-1309

Attention:  General Counsel

 

15

 

CONFIDENTIAL

With a copy to:

Micron Technology, Inc.

8000 South Federal Way

Boise, Idaho  83716-9632

Fax:  (208) 368-4095

Attention: Treasurer

With a copy to:

Wilson Sonsini Goodrich & Rosati, P.C.

650 Page Mill Road

Palo Alto, California 94304

Fax:  (650) 493-6811

Attention:  John A. Fore, Esq.

 

(c) if to Lender, to:

Mai Liao Power Corporation

1-1, Formosa Industrial Zone Mailiao Township, Yunlin County, Taiwan, R.O.C.

Fax: 886.2.27133229

Attention:  President Office

With a copy (which shall not constitute notice) to:

Nanya Technology Corporation

Hwa-Ya Technology Park 669

Fuhsing 3 RD. Kueishan

Taoyuan, Taiwan ROC

Fax: 886.3.396.2226

Attention: Legal Department

 

10.2 Waiver.  The failure at any time of a party hereto to require performance by the other party or parties of any responsibility
or obligation required by this Agreement shall in no way affect the first party’s right to require such performance at any time thereafter, nor shall the waiver by a party hereto of a breach of any provision of this Agreement by the other party or parties constitute a waiver of any other breach of the same or any other provision nor constitute a waiver of the responsibility or obligation itself.

 

10.3 Assignment.  This Agreement or any right or obligation hereunder, is not assignable, delegable or otherwise transferable
by any party, either voluntarily, by operation of law, or otherwise, without the prior written consent of the other parties (which consent may be withheld in its sole discretion); providedthat the Lender may, by sending a written notice to the Borrower and the Guarantor at least three (3) Business Days prior to the effective date of any 

 

16

 

CONFIDENTIAL

 

such assignment, assign any or all of its rights to payment of the Loan from the Borrower and/or the Guarantor hereunder to NTC when the Borrower or the Guarantor’s payment obligations under the Loan Documentation is due.  Upon the assignment to NTC, NTC shall have the right to offset its payment obligations payable under the TTLA against
any right or claim so assigned to NTC; provided that NTC may make any such offset only with respect to amounts that are past due under the Loan Documentation.  Any such purported assignment or transfer not in accordance with this Section 10.3 shall be null and void.  Subject to the foregoing, this Agreement shall bind and inure to the benefit of the parties and their successors and assigns.  The transfer of any right or obligation hereunder by the Lender shall be effected only by
the surrender of the Loan, and either the reissuance by the Lender of the Loan to a new borrower or the issuance by the Lender of a new loan instrument to a new borrower. The Lender represents to the Borrower that, except as otherwise permitted by this Section 10.3, it is and will remain the holder of the Loan.  This provision is intended to satisfy the requirements of Section 881(c)(2) of the Internal Revenue Code and Section 1.871-14 of the Treasury Regulations.

 

10.4 Term.  The term of the Agreement shall commence from the date hereof and end on the date upon which all the Borrower's
and the Guarantor's obligations and liabilities under the Loan Documentation, including, without limitation, the repayments of the Loan and the interest, have been duly performed (the “Term”).

 

10.5 Amendment.  This Agreement may not be amended or modified without the written consent of all parties hereto.

 

10.6 Third Party Rights.  Nothing in this Agreement, whether express or implied, is intended or shall be construed to confer,
directly or indirectly, upon or give to any Person, other than the parties hereto, NPC and NTC, any legal or equitable right, remedy or claim under or in respect of this Agreement or any covenant, condition or other provision contained herein.

 

10.7 Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the ROC, without giving
effect to its conflict of laws principles.

 

10.8 Jurisdiction; Venue.  Any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising
out of or in connection with, this Agreement shall be brought in the Taipei District Court, located in Taipei, Taiwan, and each of the parties hereto hereby consents and submits to the exclusive jurisdiction of such court (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent permitted by Applicable Law, any objection which it may now or hereafter have to the laying of the
venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding which is brought in any such court has been brought in an inconvenient forum.

 

10.9 Headings.  The headings of the Articles and Sections in this Agreement are provided for convenience of reference only
and shall not be deemed to constitute a part hereof.

 

17

 

CONFIDENTIAL

 

10.10 Entire Agreement.  This Agreement, together with the Exhibits hereto and the agreements and instruments referred to
herein, constitute the entire agreement of the parties hereto with respect to the subject matter hereof and supersede all prior agreements and understandings, oral and written, among the parties hereto with respect to the subject matter hereof.

 

10.11 Taxes.  Except as otherwise set forth in this Agreement, all Taxes incurred or imposed in connection with this Agreement
and the transactions contemplated hereby shall be paid by the party subject to such Tax.

 

10.12 Cost and Expenses.  The Borrower and Guarantor agree to pay promptly on demand the expenses and fees incurred by the
Lender that are charged by the securities agent of the Lender and/or the TDCC in connection with the creation and perfection of the Pledge.  Except as otherwise set forth herein or in the Loan Documentation, the Borrower and the Lender shall be responsible for their own out-of pocket expenses incurred by them in the preparation, negotiation and performance of the Loan Documentation (including, but not limited to, legal fees and service fees to professional advisors).

 

10.13 Lender Representation and Covenant.  The Lender hereby represents and warrants that it is not a ten percent (10%) shareholder
(as that term is defined in Section 871(h)(3)(B) of the Internal Revenue Code) of the Guarantor on the Agreement date and hereby agrees that it will not become a ten percent (10%) shareholder of the Guarantor during the Term of the Loan.

 

10.14 Severability.  Should any provision of this Agreement be deemed in contradiction with the laws of any jurisdiction
in which it is to be performed or unenforceable for any reason, such provision shall be deemed null and void, but this Agreement shall remain in full force and effect in all other respects.  Should any provision of this Agreement be or become ineffective because of changes in Applicable Law or interpretations thereof, or should this Agreement fail to include a provision that is required as a matter of law, the validity of the other provisions of this Agreement shall not be affected thereby.  If
such circumstances arise, the parties hereto shall negotiate in good faith appropriate modifications to this Agreement to reflect those changes that are required by Applicable Law.

 

10.15 Counterparts.  This Agreement may be executed in several counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.

 

10.16 Confidential Information.

 

(a) The parties hereby acknowledge that the terms and conditions of the Loan Documentation and the information requested to be disclosed herein which is not available to the public shall be considered
confidential information (collectively, the “Confidential Information”), and the parties agree that the term Confidential Information includes (i) on the part of the Borrower and the Guarantor, any information received from the Lender or NTC under, 

 

18

 

CONFIDENTIAL

 

pursuant to or in connection with the Loan Documentation or the transactions contemplated thereby, and (ii) on the part of the Lender, any information received from the Borrower, the Guarantor or Micron Technology Asia Pacific under, pursuant to or in connection with the Loan Documentation or the transactions contemplated thereby.  The parties
shall not disclose any Confidential Information to any third party except in accordance with the provisions of this Section 10.16.  Notwithstanding the foregoing, the term "Confidential Information" shall not include information that (i) is or becomes published or otherwise generally available to the public through no fault or omission of the applicable party or any of its Affiliates, employees, lenders, accountants or attorneys, (ii) was available to the applicable party on a non-confidential basis
prior to its disclosure to such party pursuant to the Loan Documentation or (iii) becomes available to the applicable on a non-confidential basis from a source other than the other parties.

 

(b) Notwithstanding the foregoing, any of the parties may disclose any of the Confidential Information to its Affiliates, employees, lenders, accountants and attorneys, in each case only where
such Persons have the need to know and so long as such Persons agree to keep the information confidential in accordance with this Section 10.16.

 

(c) In the event that any of the parties is requested or becomes legally compelled (including without limitation, including by the Securities
and Futures Bureau, Financial Supervisory Commission, Executive Yuan, ROC, the Taiwan Stock Exchange or the U.S. Securities Exchange Commission) to disclose the Confidential Information, such party, shall provide the other parties with prompt written notice of that fact before such disclosure is made and furnish for disclosure only that portion of the information which is legally required.

 

(d) Each of the Lender, the Borrower and the Guarantor agrees that it will provide the other parties with drafts of any documents, press releases or other filings in which it is required to disclose
the Confidential Information at least five (5) business days or such other period as required by law, whichever is shorter, prior to the filing or disclosure thereof, and that it will make any changes to such materials reasonably requested by the other parties to the extent permitted by Applicable Law.  If confidential treatment is requested by any of the other parties, the party seeking disclosure of the Confidential Information agrees to file a request on behalf of such other party and shall use its
commercially reasonable efforts in responding to any comments by any such stock exchange or securities regulatory body or authority to cause such confidential treatment to be granted.

 

(e) Notwithstanding Section 10.4 provides otherwise, the obligations of this Section 10.16 with respect to any Confidential Information or with respect to any discussions or agreements between the
parties shall survive and continue for five (5) years from the date of this Agreement.

 

(f) The Lender understands and agrees that the Guarantor will file the Loan Documentation, as well as a summary of the Loan Documentation, with the U.S. Securities and Exchange Commission (or any
other Governmental Entity or regulatory body or stock exchange) and such filings will not be subject to the restrictions and procedures set forth in this Section 10.16.

 

19

 

CONFIDENTIAL

 

[Signature Page Follows]

  

20

  

The parties hereto have caused this Agreement to be executed and delivered as of the date first written above.

MICRON TECHNOLOGY, INC.

By: _______________________________

Name:  D. Mark Durcan

Title:  President and Chief Operating Officer

[SIGNATURE PAGE TO LOAN AGREEMENT BETWEEN MICRON TECHNOLOGY, INC., 

MICRON SEMICONDUCTOR B.V. AND MAI LIAO POWER CORPORATION]

  

  

  

 

The parties hereto have caused this Agreement to be executed and delivered as of the date first written above.

 

 

MICRON SEMICONDUCTOR B.V.

 

By: _______________________________

Name:  Thomas L. Laws, Jr.

Title:  Managing Director A

 

 

By: _______________________________

Name:

Title:

[SIGNATURE PAGE TO LOAN AGREEMENT BETWEEN MICRON TECHNOLOGY, INC., 

MICRON SEMICONDUCTOR B.V. AND MAI LIAO POWER CORPORATION]

  

  

  

 

The parties hereto have caused this Agreement to be executed and delivered as of the date first written above.

 

Mai Liao Power Corporation

 

By: _________________________________

Name:

Title:

 

 

[SIGNATURE PAGE TO LOAN AGREEMENT BETWEEN MICRON TECHNOLOGY, INC., 

MICRON SEMICONDUCTOR B.V. AND MAI LIAO POWER CORPORATION]

  

  

  

EXHIBIT A

Share Purchase Agreement

  

  

  

EXHIBIT B

Pledge Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00166-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00166-of-00352.parquet"}]]