Document:

Exhibit 10.24

 

AMENDMENT NO. 3

TO

AMERICAN CRYSTAL SUGAR COMPANY

2005 LONG TERM INCENTIVE PLAN

 

WHEREAS, the Board of Directors of American Crystal Sugar
Company (“ACSC”) previously adopted the American Crystal Sugar Company 2005
Long Term Incentive Plan (the “Plan”), generally effective January 1,
2005; and

 

WHEREAS, pursuant to Article 11 of the Plan, the Board
of Directors has the authority to amend the Plan at any time; and

 

WHEREAS, the Board of Directors deems it necessary to amend
the Plan with regard to the investment options available for adjusting
participants’ deferred compensation accounts;

 

NOW, THEREFORE, RESOLVED, that, effective January 1,
2009, the American Crystal Sugar Company 2005 Long Term Incentive Plan be and
it is hereby amended as follows:

 

1.                                       Section 7.3
of Article 7 of the Plan is hereby amended in its entirety to read as
follows:

 

“Section 7.3                                Valuation of
Deferred Compensation Account.

 

(a)           A Participant may request that his Deferred Compensation
Account be allocated among the available investment options established by the
Company.  The initial allocation request
shall remain in effect for all subsequent deferrals until changed by the
Participant.  A Participant may change
his or her investment allocation by completing such written or electronic forms
as may be required by the Company, and shall become effective as soon as
administratively feasible after the Company or other person identified on such
forms receives the Participant’s request. 
Although the Company intends to invest the amounts credited to the
Participant’s Deferred Compensation Account according to the Participant’s
requests, it reserves the right to invest such amounts without regard to such
requests.

 

(b)           Each Participant’s Deferred Compensation Account shall be
valued as of the last day of each Plan Year and as of such other dates as are
selected by the Company.  Such valuation
shall reflect the aggregate amounts credited to the Deferred Compensation
Account pursuant to Section 4.1, Section 6.5, Section 6.6 or Section 7.2
of the Plan and any earnings or losses credited to the Participant’s Deferred
Compensation Account based upon the earnings or losses of the investment
options applicable to the Participant’s Deferred Compensation Account pursuant
to this Section 7.3.  For purposes
of crediting earnings or losses as of a valuation date, all amounts credited to
the Participant’s Deferred Compensation Account since the prior valuation date
will be treated as having been credited as of the prior valuation date.”

 

 

2.             Except as expressly modified
herein, all other provisions of the Plan shall remain in full force and effect.

 

IN WITNESS WHEREOF, the Chief Executive
Officer of American Crystal Sugar Company has caused this instrument to be
executed as of this 11th day of December, 2008.

 

	
   

  	
  AMERICAN
  CRYSTAL SUGAR COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
  /s/ David A. Berg

  
	
   

  	
   

  	
  David
  A. Berg, Chief Executive Officer

  
	
   

  	
   

  
	
  STATE
  OF MINNESOTA

  	
  )

  	
   

  
	
   

  	
  )
  SS.

  	
   

  
	
  COUNTY
  OF CLAY

  	
  )

  	
   

  

 

On
this 11th day of December, 2008, before me personally
appeared David Berg, to me personally known, who, being by me first duly sworn,
did depose and say that he the Chief Executive Officer of American Crystal
Sugar Company, the corporation named in the foregoing instrument; that the seal
(if any) affixed to said instrument is the corporate seal of said corporation,
and that said instrument was signed and sealed (if sealed) on behalf of said
corporation by authority of its Board of Directors; and he acknowledged said
instrument to be the free act and deed of said corporation.

 

 

	
   

  	
  /s/
  Karen Brown

  
	
   

  	
  Notary
  Public

  

 

2Exhibit 10.1

 

EXECUTION VERSION

 

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

 

Opening Transaction

 

	
  To:

  	
  Micron
  Technology, Inc.
 8000 S. Federal Way
 Boise, Idaho 83716-9632

  
	
   

  	
   

  
	
  A/C:

  	
  028405082

  
	
   

  	
   

  
	
  From:

  	
  Goldman,
  Sachs & Co.

  
	
   

  	
   

  
	
  Re:

  	
  Issuer Capped Share
  Call Option Transaction

  
	
   

  	
   

  
	
  Ref. No:

  	
  SDB1630322480

  
	
   

  	
   

  
	
  Date:

  	
  April 8,
  2008

  

 

Dear Sir(s):

 

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

 

1.     This Confirmation is subject to, and incorporates, the
definitions and provisions of the 2000 ISDA Definitions (including the Annex
thereto) (the “2000 Definitions”) and the
definitions and provisions of the 2002 ISDA Equity Derivatives Definitions (the
“Equity Definitions”, and together with
the 2000 Definitions, the “Definitions”),
in each case as published by the International Swaps and Derivatives
Association, Inc. (“ISDA”).  In the event of any inconsistency between the
2000 Definitions and the Equity Definitions, the Equity Definitions will
govern.

 

Each
party is hereby advised, and each such party acknowledges, that the other party
has engaged in, or refrained from engaging in, substantial financial
transactions and has taken other material actions in reliance upon the parties’
entry into the Transaction to which this Confirmation relates on the terms and
conditions set forth below.

 

This
Confirmation evidences a complete and binding agreement between Dealer and
Counterparty as to the terms of the Transaction to which this Confirmation
relates.  This Confirmation shall be
subject to an agreement (the “Agreement”) in
the form of the 2002 ISDA Master Agreement as if Dealer and Counterparty had executed an
agreement in such form on the date hereof (but without any Schedule except for
(i) New York law (without regard to the conflicts of law
principles) as the
governing law and (ii) US Dollars (“USD”) as the
Termination Currency).   The parties hereby agree that no Transactions other
than the Transaction to which this Confirmation relates shall be governed by
the Agreement.

 

All provisions contained in, or incorporated by
reference to, the Agreement will govern this Confirmation except as expressly
modified herein.  In the event of any
inconsistency between this Confirmation and the Definitions or the Agreement, as the case may be, this Confirmation
shall govern.

 

 

2.     This Transaction constitutes a Share Option Transaction for purposes of the
Equity Definitions.  The terms of the
particular Transaction to which this Confirmation relates are as follows:

 

	
  General Terms:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Trade Date:

  	
   

  	
  April 8, 2009

  
	
   

  	
   

  	
   

  
	
  Components:

  	
   

  	
  The Transaction
  will be divided into individual Components, each with the terms set forth in
  this Confirmation, and, in particular, with the Number of Options and
  Expiration Date set forth in Annex A to this Confirmation. The exercise,
  valuation and settlement of the Transaction will be effected separately for
  each Component as if each Component were a separate Transaction under the
  Agreement.

  
	
   

  	
   

  	
   

  
	
  Option Style:

  	
   

  	
  European

  
	
   

  	
   

  	
   

  
	
  Option Type:

  	
   

  	
  Call

  
	
   

  	
   

  	
   

  
	
  Seller:

  	
   

  	
  Dealer

  
	
   

  	
   

  	
   

  
	
  Buyer:

  	
   

  	
  Counterparty

  
	
   

  	
   

  	
   

  
	
  Shares:

  	
   

  	
  Common Stock
  (par value $0.10 per Share) of  Counterparty
  (Ticker: “MU”)

  
	
   

  	
   

  	
   

  
	
  Number of Options:

  	
   

  	
  For each
  Component, as provided in Annex A to this Confirmation; provided
  that if Morgan Stanley &
  Co. Incorporated and Goldman, Sachs & Co., as representatives
  of the Underwriters named in the Underwriting Agreement dated April 8, 2009 between
  Counterparty and Morgan Stanley &
  Co. Incorporated and
  Goldman, Sachs & Co. (the “Underwriting Agreement”),
  exercise the option to purchase additional 4.25% Convertible Senior Notes due October 15, 2013 (“Additional Convertible
  Notes”) pursuant to Section 2 of the Underwriting Agreement, the Number of Options for each
  Component shall be automatically increased, effective upon payment by
  Counterparty of the Additional Premium on the Additional Premium Payment
  Date, by a number of Options equal to the product of (x) the Number of
  Options for such Component as set forth in Annex A to this Confirmation and
  (y) a fraction, the numerator of which is the number of Additional
  Convertible Notes in denominations of USD1,000 principal amount issued
  pursuant to such exercise and the denominator of which is the number of
  Convertible Notes in denominations of USD1,000 principal amount issued prior
  to such exercise, subject to rounding as deemed appropriate by the
  Calculation Agent, and Calculation Agent will promptly provide Counterparty
  and Dealer a schedule setting forth the increased Number of Options for all
  Components.

  
	
   

  	
   

  	
   

  
	
  Option Entitlement:

  	
   

  	
  One Share per
  Option

  
	
   

  	
   

  	
   

  
	
  Strike Price:

  	
   

  	
  5.08375

  

 

2

 

	
  Cap Price:

  	
   

  	
  6.64000

  
	
   

  	
   

  	
   

  
	
  Premium:

  	
   

  	
  The premium for
  each Component shall be as provided in Annex A to this Confirmation and
  the aggregate Premium for the Transaction is USD 9,675,000.00; provided
  that if the Number of Options is increased pursuant to the proviso to the
  definition of “Number of Options” above, Counterparty shall pay on the
  Additional Premium Payment Date an additional Premium (the “Additional Premium”) equal to the product of the number of
  Options by which the aggregate Number of Options for such Components is so
  increased and USD 0.5465. Dealer
  and Counterparty hereby agree that, notwithstanding anything to the contrary
  herein or in the Agreement, following the payment of the Premium (including
  the Additional Premium, if any), in the event that (a) an Early
  Termination Date (whether as a result of an Event of Default or a Termination
  Event) occurs or is designated with respect to any Transaction and, as a
  result, Counterparty owes to Dealer the amount calculated under
  Section 6(e) of the Agreement (calculated as if the Transactions
  were terminated on such Early Termination Date were the sole Transactions
  under the Agreement) or (b) Counterparty owes to Dealer, pursuant to
  Section 12.7 or Section 12.9 or the Equity Definitions, an amount
  calculated under Section 12.8 of the Equity Definitions, such amount
  shall be deemed to be zero.

  
	
   

  	
   

  	
   

  
	
  Premium Payment Date:

  	
   

  	
  The Effective
  Date

  
	
   

  	
   

  	
   

  
	
  Effective Date:

  	
   

  	
  April 15, 2009 or such other date as agreed by the parties.

  
	
   

  	
   

  	
   

  
	
  Additional Premium
  Payment Date:

  	
   

  	
  The closing date
  for the purchase and sale of the Additional Convertible Notes.

  
	
   

  	
   

  	
   

  
	
  Exchange:

  	
   

  	
  New York Stock Exchange

  
	
   

  	
   

  	
   

  
	
  Related Exchange:

  	
   

  	
  All Exchanges
  located in the United States on which the equity securities or equity-linked
  securities of Counterparty are traded.

  
	
   

  	
   

  	
   

  
	
  Procedures for
  Exercise:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Expiration Time:

  	
   

  	
  Valuation Time

  
	
   

  	
   

  	
   

  
	
  Expiration Date:

  	
   

  	
  As provided in
  Annex A to this Confirmation (or, if such date is not a Scheduled Trading
  Day, the next following Scheduled Trading Day that is not already an
  Expiration Date for another Component); provided that, notwithstanding anything to the
  contrary in the Equity Definitions, if that date is a Disrupted Day, the
  Calculation Agent may determine that the Expiration Date for such Component
  is a Disrupted Day in whole or in part, in which case the Calculation Agent
  shall, in its reasonable discretion, determine the number of Options for
  which such day shall be

  

 

3

 

	
   

  	
   

  	
  the Expiration Date and (i) allocate the remaining Options for
  such Expiration Date to one or more of the remaining Expiration Dates,
  (ii) designate the first succeeding Scheduled Trading Day that is not a
  Disrupted Day and is not or is not deemed to be an Expiration Date in respect
  of any other Component of the Transaction hereunder as the Expiration Date
  for such remaining Options, or (iii) a combination thereof; provided further that
  if the Expiration Date for a Component (including any portion of a Component
  whose Expiration Date was postponed as a result of clause (ii) or
  (iii) above) has not occurred as of the Final Disruption Date,
  (a) such Final Disruption Date shall be deemed to be the Expiration Date
  and Valuation Date for such Component, and (b) the Calculation Agent
  shall determine the VWAP Price for such Component on the basis of its good
  faith estimate of the trading value for the relevant Shares.
  Section 6.6 of the Equity Definitions shall not apply to any Valuation
  Date occurring on an Expiration Date.

  
	
   

  	
   

  	
   

  
	
  Final Disruption Date:

  	
   

  	
  November 30, 2012

  
	
   

  	
   

  	
   

  
	
  Market Disruption Event:

  	
   

  	
  Section 6.3(a) of
  the Equity Definitions is hereby amended by replacing clause
  (ii) thereof in its entirety with the following: “(ii) an Exchange
  Disruption, or” and inserting immediately following clause (iii) thereof
  the following: “; in each case that the Calculation Agent determines is
  material.”

  
	
   

  	
   

  	
   

  
	
  Exchange Business Day; Disrupted Day:

  	
   

  	
  Sections 1.29 and
  6.4 of the Equity Definitions are hereby amended by adding “, unless the
  Calculation Agent reasonably determines that any failure of such Exchange or
  Related Exchange to open does not have a material effect on the trading
  market for the Shares” following the words “regular trading sessions” in the
  third line thereof and the words “regular trading session” in the second line
  thereof, respectively.

  
	
   

  	
   

  	
   

  
	
  Automatic Exercise:

  	
   

  	
  Applicable; and means
  that the Number of Options for the relevant Component will be deemed to be
  automatically exercised at the Expiration Time on the Expiration Date for
  such Component if at such time such Component is In-the-Money, as determined
  by the Calculation Agent, unless Buyer notifies Seller (by telephone or in
  writing) prior to the Expiration Time on such Expiration Date that it does
  not wish Automatic Exercise to occur with respect to such Component, in which
  case Automatic Exercise will not apply with respect to such Component. “In-the-Money” means, in respect of any Component, that the
  VWAP Price on the Expiration Date for such Component is greater than the
  Strike Price for such Component.

  

 

4

 

	
  Seller’s Telephone Number and Telex and/or
  Facsimile Number and Contact Details for purpose of Giving Notice:

  	
   

  	
  To:

  	
   

  	
  Goldman, Sachs & Co.

  
	
   

  	
   

  	
   

  	
   

  	
  One New York Plaza

  
	
   

  	
   

  	
   

  	
   

  	
  New York, NY 10004

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Attn:

  	
   

  	
  Equity
  Operations:

  
	
   

  	
   

  	
   

  	
   

  	
  Options and
  Derivatives

  
	
   

  	
   

  	
  Telephone:

  	
   

  	
  (212) 902-1981

  
	
   

  	
   

  	
  Facsimile:

  	
   

  	
  (212)
  428-1980/1983

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  With a copy to:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Attn:

  	
   

  	
  Serge Marquié

  
	
   

  	
   

  	
   

  	
   

  	
  Equity Capital
  Markets

  
	
   

  	
   

  	
  Telephone:

  	
   

  	
  (212) 902-9779

  
	
   

  	
   

  	
  Facsimile:

  	
   

  	
  (212) 902-3000

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Settlement
  Terms:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Settlement Method Election:

  	
   

  	
  Applicable; provided that (a) Section 7.1
  of the Equity Definitions is hereby amended by replacing the term “Physical
  Settlement” with the term “Net Share Settlement”, (b) Counterparty must
  make a single irrevocable election for all Components and (c) such
  Settlement Method Election would be effective only if Counterparty represents
  and warrants to Dealer in writing on the date of such Settlement Method
  Election that none of Counterparty and its officers and directors is aware of
  any material nonpublic information regarding Counterparty or the Shares as of
  such date.

  
	
   

  	
   

  	
   

  
	
  Electing Party:

  	
   

  	
  Counterparty

  
	
   

  	
   

  	
   

  
	
  Settlement Method Election Date:

  	
   

  	
  The fifth Scheduled
  Trading Day prior to the scheduled Expiration Date for the first Component.

  
	
   

  	
   

  	
   

  
	
  Default Settlement Method:

  	
   

  	
  Net Share Settlement

  
	
   

  	
   

  	
   

  
	
  Settlement Currency:

  	
   

  	
  USD

  
	
   

  	
   

  	
   

  
	
  VWAP Price:

  	
   

  	
  For any Expiration Date
  or other Exchange Business Day, as displayed on Bloomberg Page “MU.N
  <Equity> AQR” (or any successor thereto) for the Counterparty with
  respect to the period between 9:30 a.m. to 4:00 p.m. (New York City
  time) on such day, as determined by Calculation Agent. If no price is
  available, or there is a Market Disruption Event on such Expiration Date or
  other Exchange Business Day, the Calculation Agent shall determine the VWAP
  Price in a commercially reasonable manner.

  
	
   

  	
   

  	
   

  
	
  Net Share Settlement:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Settlement Date:

  	
   

  	
  The Settlement Date
  shall be the third Scheduled Trading Day after the Expiration Date for the
  Component (or, in respect of all or part of its obligation to deliver the
  Number of Shares to be

  
								

 

5

 

	
   

  	
   

  	
  Delivered, such other
  earlier date or dates Dealer shall determine in its sole discretion).

  
	
   

  	
   

  	
   

  
	
  Net Share Settlement:

  	
   

  	
  If Net Share Settlement applies, on the Settlement Date for each
  Component, Dealer shall deliver to Counterparty a number of Shares equal to
  the Number of Shares to be Delivered for such Component to the account
  specified by Counterparty and cash in lieu of any fractional shares for such
  Component valued at the VWAP Price on the Expiration Date for such Component.

  
	
   

  	
   

  	
   

  
	
  Number of Shares to be Delivered:

  	
   

  	
  For any Component,
  subject to the last sentence of Section 9.5 of the Equity Definitions:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (i)  if the
  VWAP Price on the Expiration Date for such Component exceeds the Strike Price
  for such Component but is less than the Cap Price for such Component, a
  number of Shares equal to (i) the product of (A) the excess of such
  VWAP Price over such Strike Price, (B) the Number of Options for such
  Component and (C) the Option Entitlement, divided by
  (ii) such VWAP Price;

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (ii)  if the
  VWAP Price on the Expiration Date for such Component equals or exceeds the
  Cap Price for such Component, a number of Shares equal to (i) the
  product of (A) the excess of such Cap Price over the Strike Price for
  such Component, (B) the Number of Options for such Component and
  (C) the Option Entitlement, divided by
  (ii) such VWAP Price; or

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (iii)  if the
  VWAP Price on the Expiration Date for such Component is less than or equal to
  the Strike Price for such Component, a number of Shares equal to zero.

  
	
   

  	
   

  	
   

  
	
  Other Applicable Provisions:

  	
   

  	
  The provisions of
  Sections 9.1(c), 9.8, 9.9, 9.10, 9.11 and 9.12 of the Equity Definitions will
  be applicable, as if Physical Settlement applied to the Transaction; provided that the Representation and
  Agreement contained in Section 9.11 of the Equity Definitions shall be
  modified by excluding any representations therein relating to restrictions,
  obligations, limitations or requirements under applicable securities laws as
  a result of the fact that Counterparty is the issuer of any Shares.

  
	
   

  	
   

  	
   

  
	
  Cash Settlement:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Cash Settlement Payment Date:

  	
   

  	
  The Cash Settlement
  Payment Date shall be the third Scheduled Trading Day after the Expiration
  Date for each Component.

  
	
   

  	
   

  	
   

  
	
  Cash Settlement:

  	
   

  	
  If Cash Settlement
  applies, on the relevant Cash Settlement Payment Date for such Component,
  Dealer shall pay to Counterparty an amount equal to the sum of the Option
  Cash Settlement Amount for each Component to the account specified by
  Counterparty.

  

 

6

 

	
  Strike Price Differential:

  	
   

  	
  For any Component:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (i)  if the
  VWAP Price on the Expiration Date for such Component exceeds the Strike Price
  for such Component but is less than the Cap Price for such Component, an
  amount equal to the excess of such VWAP Price over such Strike Price.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (ii)  if the
  VWAP Price on the Expiration Date for such Component equals or exceeds the
  Cap Price for such Component, an amount equal to the excess of such Cap Price
  over the Strike Price for such Component; or

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (iii)  if the
  VWAP Price on the Expiration Date for such Component is less than or equal to
  the Strike Price for such Component, zero.

  
	
   

  	
   

  	
   

  
	
  Share Adjustments:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Method of Adjustment:

  	
   

  	
  Calculation Agent
  Adjustment; provided that under Section 11.2(e)(v) of the
  definition of Potential Adjustment Event the word “repurchase” shall be
  replaced with the word “tender offer.”

  
	
   

  	
   

  	
   

  
	
  Extraordinary Events:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  New Shares:

  	
   

  	
  In the definition of “New Shares” in
  Section 12.1(i) of the Equity Definitions, the text in subsection
  (i) shall be deleted in its entirety and replaced with: “publicly
  quoted, traded or listed on any of the New York Stock Exchange, the NASDAQ
  Global Select Market or the NASDAQ Global Market (or their respective
  successors).”

  
	
   

  	
   

  	
   

  
	
  Consequences of Merger Events:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (a)   Share-for-Share:

  	
   

  	
  Modified Calculation
  Agent Adjustment and, for the avoidance of doubt, if the consideration for
  the Shares includes (or, at the option of a holder of Shares, may include)
  shares of an entity or person not organized under the laws of the United
  States, any State thereof or the District of Columbia (“Foreign
  Issuer Shares”), then the Calculation Agent may choose to apply
  Cancellation and Payment (Calculation Agent Determination) to that portion of
  the consideration comprising Foreign Issuer Shares.

  
	
   

  	
   

  	
   

  
	
  (b)   Share-for-Other:

  	
   

  	
  Cancellation and
  Payment (Calculation Agent Determination) on that portion of the Other
  Consideration that consists of cash; Modified Calculation Agent Adjustment on
  the remainder of the Other Consideration and, for the avoidance of doubt, if
  the Other Consideration includes (or, at the option of a holder of Shares,
  may include) Foreign Issuer Shares, then the Calculation Agent may choose to
  apply Cancellation and Payment (Calculation Agent Determination) to that
  portion of the Other Consideration comprising Foreign Issuer Shares.

  
	
   

  	
   

  	
   

  
	
  (c)   Share-for-Combined:

  	
   

  	
  Component Adjustment

  
							

 

7

 

	
  Tender Offer:

  	
   

  	
  Applicable; provided
  that (a) Section 12.1(d) of the Equity Definitions is hereby
  amended by replacing the words “10%” in the third line with “50%”.

  
	
   

  	
   

  	
   

  
	
  Consequences of Tender Offers:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (a)   Share-for-Share:

  	
   

  	
  Modified Calculation
  Agent Adjustment

  
	
   

  	
   

  	
   

  
	
  (b)   Share-for-Other:

  	
   

  	
  Cancellation and
  Payment (Calculation Agent Determination) on that portion of the Other
  Consideration that consists of cash; Modified Calculation Agent Adjustment on
  the remainder of the Other Consideration and, for the avoidance of doubt, if
  the Other Consideration includes (or, at the option of a holder of Shares,
  may include) Foreign Issuer Shares, then the Calculation Agent may choose to
  apply Cancellation and Payment (Calculation Agent Determination) to that
  portion of the Other Consideration comprising Foreign Issuer Shares.

  
	
   

  	
   

  	
   

  
	
  (c)   Share-for-Combined:

  	
   

  	
  Component Adjustment

  
	
   

  	
   

  	
   

  
	
  Nationalization, Insolvency or Delisting:

  	
   

  	
  Cancellation and
  Payment (Calculation Agent Determination); provided that in addition to the
  provisions of Section 12.6(a)(iii) of the Equity Definitions, it
  shall also constitute a Delisting if the Exchange is located in the United
  States and the Shares are not immediately re-listed, re-traded or re-quoted
  on any of the New York Stock Exchange, the NASDAQ Global Select Market or the
  NASDAQ Global Market (or their respective successors); if the Shares are
  immediately re-listed, re-traded or re-quoted on any such exchange or
  quotation system, such exchange or quotation system shall be deemed to be the
  Exchange.

  
	
   

  	
   

  	
   

  
	
  Additional Disruption Events:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (a)   Change in
  Law:

  	
   

  	
  Applicable; provided that Section 12.9(a)(ii) of the Equity
  Definitions is hereby amended by (i) replacing the phrase “the
  interpretation” in the third line thereof with the phrase “or announcement or
  statement of the formal or informal interpretation”, (ii) immediately
  following the word “that” in the sixth line thereof, adding the phrase “as a
  result of one or more of the circumstances listed in (A) and
  (B) above” and (iii) deleting clause (Y) thereof in its
  entirety.

  
	
   

  	
   

  	
   

  
	
  (b)   Failure
  to Deliver:

  	
   

  	
  Not Applicable

  
	
   

  	
   

  	
   

  
	
  (c)   Insolvency
  Filing:

  	
   

  	
  Applicable

  
	
   

  	
   

  	
   

  
	
  (d)   Hedging
  Disruption:

  	
   

  	
  Applicable

  
	
   

  	
   

  	
   

  
	
  (e)   Increased
  Cost of Hedging:

  	
   

  	
  Not Applicable

  
	
   

  	
   

  	
   

  
	
  Hedging Party:

  	
   

  	
  Dealer

  
	
   

  	
   

  	
   

  
	
  Determining Party:

  	
   

  	
  Dealer

  
	
   

  	
   

  	
   

  
	
  Non-Reliance:

  	
   

  	
  Applicable

  
	
   

  	
   

  	
   

  
	
  Agreements and Acknowledgments

  	
   

  	
   

  

 

8

 

	
  Regarding Hedging Activities:

  	
   

  	
  Applicable

  
	
   

  	
   

  	
   

  
	
  Additional Acknowledgments:

  	
   

  	
  Applicable

  
	
   

  	
   

  	
   

  
	
  Dealer Payment Instructions:

  	
   

  	
  Chase Manhattan Bank
  New York

  
	
   

  	
   

  	
  For A/C Goldman,
  Sachs & Co.

  
	
   

  	
   

  	
  A/C #930-1-011483

  
	
   

  	
   

  	
  ABA: 021-000021

  
	
   

  	
   

  	
   

  
	
  Counterparty Payment and
  Delivery

  	
   

  	
   

  
	
  Instructions:

  	
   

  	
  To be provided by Counterparty

  

 

3.     Calculation Agent: 
Dealer; provided that all determinations
made by the Calculation Agent shall be made in good faith and in a commercially
reasonable manner. Following any calculation by the Calculation Agent
hereunder, upon a prior written request by Issuer, the Calculation Agent will
provide to Counterparty by e-mail to the e-mail address provided by
Counterparty in such a prior written request a report (in a commonly used file
format for the storage and manipulation of financial data) displaying in
reasonable detail the basis for such calculation; and provided
further that no transferee of the Transaction in accordance with the
terms of this Confirmation shall act as Calculation Agent with respect to such
transferred Transaction without the prior consent of Counterparty, such consent
not to be unreasonably withheld.

 

4.     Offices:

 

(a)   The Office of Dealer for this Transaction
is:  One New York Plaza, New York, New
York 10004

 

(b)   The Office of Counterparty for this Transaction is:
8000 S. Federal Way, Boise, Idaho 83716-9632.

 

5.     Notices: For purposes of this Confirmation:

 

(a)   Address for notices or communications to
Counterparty:

 

	
  To:

  	
   

  	
  Micron Technology, Inc.

  
	
   

  	
   

  	
  8000 South Federal Way

  
	
   

  	
   

  	
  Boise, Idaho 83716

  
	
  Attn:

  	
   

  	
  General Counsel

  
	
  Telephone:

  	
   

  	
  (208) 368-4000

  
	
  Facsimile:

  	
   

  	
  (208) 368-4540

  
	
   

  	
   

  	
   

  
	
  With
  a copy to:

  	
   

  	
  Wilson
  Sonsini Goodrich & Rosati

  
	
   

  	
   

  	
  Professional
  Corporation

  
	
   

  	
   

  	
  650
  Page Mill Road

  
	
   

  	
   

  	
  Palo
  Alto, CA 94304

  
	
  Attn:

  	
   

  	
  John
  A. Fore, Esq.

  
	
  Telephone:

  	
   

  	
  (650)
  493-9300

  
	
  Facsimile:

  	
   

  	
  (650)
  493-6811

  

 

(b)   Address for notices or communications to
Dealer:

 

	
  To:

  	
   

  	
  Goldman, Sachs & Co.

  
	
   

  	
   

  	
  One New York Plaza

  
	
   

  	
   

  	
  New York, NY
  10004

  
	
  Attn:

  	
   

  	
  Serge Marquié

  
	
   

  	
   

  	
  Equity Capital Markets

  
	
  Telephone:

  	
   

  	
  (212) 902-9779

  
	
  Facsimile:

  	
   

  	
  (212) 977-4253

  
	
  Email:

  	
   

  	
  marqse@am.ibd.gs.com

  

 

9

 

	
  With a copy to:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Attn:

  	
   

  	
  Brian Smith

  
	
   

  	
   

  	
  Equity Capital
  Markets

  
	
  Telephone:

  	
   

  	
  (212) 902-0058

  
	
  Facsimile:

  	
   

  	
  (212) 412-9881

  
	
  Email:

  	
   

  	
  smibri@am.ibd.gs.com

  
	
   

  	
   

  	
   

  
	
  And email

  	
   

  	
   

  
	
  notification to

  	
   

  	
   

  
	
  the following

  	
   

  	
   

  
	
  address:

  	
   

  	
  Eq-derivs-notifications@am.ibd.gs.com

  

 

6.     Representations, Warranties and Agreements:

 

(a)           In addition to the representations, warranties and agreements in the Agreement and those contained elsewhere
herein, Counterparty represents and warrants to and for the benefit of, and
agrees with, Dealer as follows:

 

(i)            On the Trade Date and on any
Additional Premium Date (A) none of Counterparty and its officers and
directors is aware of any material nonpublic information regarding Counterparty
or the Shares and (B) all reports and other documents filed by
Counterparty with the Securities and Exchange Commission pursuant to the
Exchange Act when considered as a whole (with the more recent such reports and
documents deemed to amend inconsistent statements contained in any earlier such
reports and documents), do not contain any untrue statement of a material fact
or any omission of a material fact required to be stated therein or necessary
to make the statements therein, in the light of the circumstances in which they
were made, not misleading.

 

(ii)           Counterparty intends the Transaction
to qualify as an equity instrument for purposes of EITF Issue
No. 00-19.  Without limiting the generality of Section 13.1 of the Equity
Definitions, Counterparty acknowledges that Dealer is not making any
representations or warranties with respect to the treatment of the Transaction
under any accounting standards including FASB Statements 128, 133 (as amended),
149 or 150, EITF Issue No. 00-19, 01-6, 03-6 or 07-5 (or any successor
issue statements) or under FASB’s Liabilities & Equity Project.

 

(iii)          Prior to the Trade Date, Counterparty
shall deliver to Dealer a resolution of Counterparty’s board of directors (or
an authorized committee thereof) authorizing the Transaction and such other
certificate or certificates as Dealer shall reasonably request.

 

(iv)          On the Trade Date and on any
Additional Premium Date, without limiting the generality of
Section 3(a)(iii) of the Agreement, the Transaction will not violate
Rule 13e-1 or Rule 13e-4 under the Exchange Act.

 

(v)           Counterparty is not entering into
this Confirmation to create actual or apparent trading activity in the Shares
(or any security convertible into or exchangeable for Shares) or to manipulate the
price of the Shares (or any security convertible into or exchangeable for
Shares) or otherwise in violation of the Exchange Act.

 

(vi)          Counterparty is not, and after giving
effect to the transactions contemplated hereby will not be, an “investment company”
as such term is defined in the Investment Company Act of 1940, as amended.

 

(vii)         On the Trade Date, the Premium Payment
Date and on any Additional Premium Payment Date (A) the assets of
Counterparty at their fair valuation exceed the liabilities of Counterparty,
including contingent liabilities, (B) the capital of Counterparty is
adequate to conduct the business of Counterparty and (C) Counterparty has
the ability to pay its debts and

 

10

 

obligations as such debts mature and does not intend to, or does not
believe that it will, incur debt beyond its ability to pay as such debts
mature.

 

(viii)        (A)  During each period starting on
the first Expiration Date and ending on the last Expiration Date, in each case
sharing a common Final Disruption Date (each a “Settlement
Period”), the Shares or securities that are convertible into, or
exchangeable or exercisable for Shares shall not be, subject to a “restricted
period,” as such term is defined in Regulation M under the Exchange Act (“Regulation M”) and (B) Counterparty shall not engage in
any “distribution,” as such term is defined in Regulation M, other than a
distribution meeting the requirements of the exceptions set forth in sections
101(b)(10) and 102(b)(7) of Regulation M, until the second Exchange
Business Day immediately following the relevant Settlement Period.

 

(ix)           During each Settlement Period,
neither Counterparty nor any “affiliate” or “affiliated purchaser” (each as
defined in Rule 10b-18 under the Exchange Act (“Rule 10b-18”))
shall directly or indirectly (including, without limitation, by means of any
cash-settled or other derivative instrument) purchase, offer to purchase, place
any bid or limit order that would effect a purchase of, or commence any tender
offer relating to, any Shares (or an equivalent interest, including a unit of
beneficial interest in a trust or limited partnership or a depository share) or
any security convertible into or exchangeable or exercisable for Shares.

 

(b)           Each of Dealer and Counterparty
agrees and represents that it is an “eligible contract participant” as defined
in Section 1a(12) of the U.S. Commodity Exchange Act, as amended.

 

(c)           Each of Dealer and Counterparty
acknowledges that the offer and sale of the Transaction to it is intended to be
exempt from registration under the Securities Act of 1933, as amended (the “Securities Act”), by virtue of
Section 4(2) thereof. 
Accordingly, Counterparty represents and warrants to Dealer and Dealer
represents to Counterparty that (i) it has the financial ability to bear
the economic risk of its investment in the Transaction and is able to bear a
total loss of its investment and its investments in and liabilities in respect
of the Transaction, which it understands are not readily marketable, are not
disproportionate to its net worth, and it is able to bear any loss in
connection with the Transaction, including the loss of its entire investment in
the Transaction, (ii) it is an “accredited investor” as that term is
defined in Regulation D as promulgated under the Securities Act, (iii) it
is entering into the Transaction for its own account without a view to the
distribution or resale thereof, (iv) the assignment, transfer or other
disposition of the Transaction has not been and will not be registered under
the Securities Act and is restricted under this Confirmation, the Securities
Act and state securities laws, (v) its financial condition is such that it
has no need for liquidity with respect to its investment in the Transaction and
no need to dispose of any portion thereof to satisfy any existing or
contemplated undertaking or indebtedness and is capable of assessing the merits
of and understanding (on its own behalf or through independent professional
advice), and understands and accepts, the terms, conditions and risks of the
Transaction.

 

(d)           Each
of Dealer and Counterparty agrees and acknowledges that Dealer is a “financial
institution,” “swap participant” and/or “financial participant” within the
meaning of Sections 101(22), 101(53C) and 101(22A) of Title 11 of the United
States Code (the “Bankruptcy Code”).  The parties hereto further agree and
acknowledge (A) that this Confirmation is (i) a “securities
contract,” as such term is defined in Section 741(7) of the
Bankruptcy Code, with respect to which each payment and delivery hereunder is a
“settlement payment,” as such term is defined in Section 741(8) of
the Bankruptcy Code, and (ii) a “swap agreement,” as such term is defined
in Section 101(53B) of the Bankruptcy Code, with respect to which each
payment and delivery hereunder is a “transfer,” as such term is defined in
Section 101(54) of the Bankruptcy Code, and (B) that Dealer is
entitled to the protections afforded by, among other sections, Sections
362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code.

 

(e)           Counterparty hereby agrees and
acknowledges that the Transaction has not been registered with the Securities
and Exchange Commission or any state securities commission and that the Options
are being written by Dealer to Counterparty in reliance upon exemptions from
any such registration requirements. 
Counterparty acknowledges that all Options acquired from Dealer will be
acquired for investment purposes only and not for the purpose of resale or
other transfer except in compliance with the requirements of the Securities
Act.  Counterparty will not sell or
otherwise transfer 

 

11

 

any
Option or any interest therein except in compliance with the requirements of
the Securities Act and any subsequent offer or sale of the Options will be
solely for Counterparty’s account and not as part of a distribution that would
be in violation of the Securities Act.

 

(f)            Each party acknowledges and agrees to
be bound by the Conduct Rules of the Financial Industry Regulatory
Authority, Inc. applicable to transactions in options, and further agrees
not to violate the position and exercise limits set forth therein.

 

7.     Repurchase Notices.  Counterparty
shall, on any day on which Counterparty effects any repurchase of Shares,
promptly give Dealer a written notice of such repurchase (a “Repurchase Notice”) on such day if following such
repurchase, the Notice Percentage as determined on such day is greater by 0.5%
than the Notice Percentage included in the immediately preceding Repurchase
Notice (or, in the case of the first such Repurchase Notice or the first such
Repurchase Notice after the initial Final Disruption Date, greater than 4.5%). 
The “Notice Percentage” as of any day
is the fraction (A) the numerator of which is the aggregate of the Number
of Shares for all Components under this Transaction and all other Transactions
and (B) the denominator of which is the number of Shares outstanding on
such day.  In the event that Counterparty
fails to provide Dealer with a Repurchase Notice on the day and in the manner
specified in this Section 7, then Counterparty to the extent permitted by
law agrees to indemnify and hold harmless Dealer, its affiliates and their respective
directors, officers, employees, agents and controlling persons (Dealer and each
such person being an “Indemnified Person”)
from and against any and all losses (including losses relating to Dealer’s
hedging activities as a consequence of becoming, or of the risk of becoming, a
Section 16 “insider,” including without limitation any forbearance from
hedging activities or cessation of hedging activities and any losses in
connection therewith with respect to this Transaction), claims, damages and
liabilities (or actions in respect thereof), joint or several, to which such
Indemnified Person is subject, including without limitation, Section 16 of
the Exchange Act), relating to or arising out of such failure.  If for any reason the foregoing indemnification
is unavailable to any Indemnified Person or insufficient to hold harmless any
Indemnified Person, then Counterparty shall contribute, to the maximum extent
permitted by law, to the amount paid or payable by the Indemnified Person as a
result of such loss, claim, damage or liability.  In addition, Counterparty will reimburse any
Indemnified Person for all reasonable expenses (including reasonable counsel
fees and expenses) as they are incurred (after notice to Counterparty) in
connection with the investigation of, preparation for or defense or settlement
of any pending or threatened claim or any action, suit or proceeding (including
any governmental or regulatory investigation) arising therefrom, whether or not
such Indemnified Person is a party thereto and whether or not such claim,
action, suit or proceeding is initiated or brought by or on behalf of
Counterparty.  This indemnity shall
survive the completion of the Transaction contemplated by this Confirmation and
any assignment and delegation of the Transaction made pursuant to this
Confirmation or the Agreement shall inure to the benefit of any permitted
assignee of Dealer.  Issuer will not be
liable under this indemnity provision to the extent any loss, claim, damage,
liability or expense is found in a final judgment by a court to have resulted
from Dealer’s gross negligence or willful misconduct.

 

8.     Transfer or Assignment. 
Neither party may transfer any of its rights or obligations under this
Transaction without the prior written consent of the non-transferring party
(such consent not to be unreasonably withheld); provided that if at any time
the Equity Percentage exceeds 9%, Dealer may immediately, in its sole
discretion, transfer or assign a number of Options sufficient to reduce the
Equity Percentage to 8.5% to any affiliate of Dealer whose obligations are
guaranteed by The Goldman Sachs Group, Inc. or any third party with (or
with a guarantor (a “Third Party Guarantor”)
that has) a rating for its long-term, unsecured and unsubordinated indebtedness
of A- or better by Standard & Poor’s Ratings Services or its successor
(“S&P”), or A3 or better by Moody’s
Investors Service, Inc. (“Moody’s”) or,
if either S&P or Moody’s ceases to rate such debt, at least an equivalent
rating or better by a substitute agency rating mutually agreed by Counterparty
and Dealer; provided however such Third Party Guarantor shall provide a
guarantee in a form reasonably satisfactory to the Counterparty in connection
with such transfer or assignment.  If, in
the discretion of Dealer, Dealer is unable to effect such transfer or
assignment after its commercially reasonable efforts on pricing terms
reasonably acceptable to Dealer, Dealer may designate any Scheduled Trading Day
as an Early Termination Date and an Additional Termination Date shall be deemed
to occur with respect to a portion (the “Terminated
Portion”) of this Transaction, allocated to Components as Dealer
determines in its discretion, such that the Equity Percentage following such
partial 

 

12

 

termination will be equal to or less than 8.5%.  In the event that Dealer so designates an
Early Termination Date with respect to a portion of this Transaction, a payment
shall be made pursuant to Section 6 of the Agreement as if (i) an
Early Termination Date had been designated in respect of a Transaction having
terms identical to this Transaction and a Number of Options equal to the
Terminated Portion, (ii) Counterparty shall be the Affected Party with
respect to such partial termination and (iii) such portion of this
Transaction shall be the only Affected Transaction.  The “Equity
Percentage” as of any day is the fraction (A) the numerator of
which is the number of Shares that Dealer or any of its affiliates that are
subject to aggregation with Dealer beneficially own (within the meaning of
Section 13 of the Exchange Act) on such day and (B) the denominator
of which is the number of Shares outstanding on such day.  Notwithstanding Section 7 of the
Agreement, Counterparty may assign its rights and obligations under this
Transaction, in whole or in part, on terms reasonably acceptable to both
parties, without any payment being owed from Counterparty to Dealer.

 

9.     Extension of Settlement.  
Dealer may divide any Component into additional Components and designate
the Expiration Date, the Final Disruption Date and the Number of Options for
each such Component if Dealer determines, in its reasonable discretion, that
such further division is necessary or advisable to preserve Dealer’s hedging
activity hereunder in light of existing liquidity conditions or to enable
Dealer to effect purchases of Shares in connection with its hedging activity
hereunder in a manner that would, if Dealer were Counterparty or an affiliated
purchaser of Counterparty, be compliant with applicable legal and regulatory
requirements.

 

10.   Early Termination Right.  Counterparty may elect to terminate this
Transaction, in whole or in part, prior to the relevant Expiration Date, on
terms acceptable to both parties, and, if such termination occurs following the
payment of the premiums for all Components, without any payment being owed from
Counterparty to Dealer.

 

11.   Equity Rights.  Dealer acknowledges and agrees that this
Confirmation is not intended to convey to it rights with respect to the
Transaction that are senior to the claims of common stockholders in the event
of Counterparty’s bankruptcy.  For the
avoidance of doubt, the parties agree that the preceding sentence shall not apply
at any time other than during Counterparty’s bankruptcy to any claim arising as
a result of a breach by Counterparty of any of its obligations under this
Confirmation or the Agreement.  For the
avoidance of doubt, the parties acknowledge that this Confirmation is not
secured by any collateral that would otherwise secure the obligations of
Counterparty herein under or pursuant to any other agreement.

 

12.   Alternative Calculations and Payment on
Early Termination and on Certain Extraordinary Events.  If Dealer shall owe Counterparty any amount
pursuant to Section 12.2 of the Equity Definitions and “Consequences of
Merger Events” above, or Sections 12.3, 12.6, 12.7 or 12.9 of the Equity
Definitions (except in the event of a Tender Offer or a Merger Event, in each
case, in which the consideration or proceeds to be paid to holders of Shares
consists solely of cash) or pursuant to Section 6(d)(ii) of the
Agreement (except in the event of an Event of Default in which Counterparty is
the Defaulting Party or a Termination Event in which Counterparty is the
Affected Party, that resulted from an event or events within Counterparty’s
control) (a “Payment Obligation”), Counterparty
shall have the right, in its sole discretion, to require Dealer to satisfy any
such Payment Obligation by the Share Termination Alternative (as defined below)
by giving irrevocable telephonic notice to Dealer, confirmed in writing within
one Scheduled Trading Day, between the hours of 9:00 A.M. and
4:00 P.M. New York City time on the Merger Date, Tender Offer Date, Announcement
Date, Early Termination Date or other date of termination, as applicable (“Notice of Share Termination”).  Within a commercially reasonable period of
time following receipt of a Notice of Share Termination, Dealer shall deliver
to Counterparty a number of Share Termination Delivery Units having a cash
value equal to the amount of such Payment Obligation (such number of Share
Termination Delivery Units to be delivered to be determined by the Calculation
Agent as the number of whole Share Termination Delivery Units that could be
purchased over a commercially reasonable period of time with the cash
equivalent of such payment obligation) (the “Share
Termination Alternative”).

 

	
  Share Termination
  Delivery Unit:

  	
   

  	
  In the case of a
  Termination Event, Event of Default, Delisting or Additional Disruption
  Event, one Share or, in the case of an Insolvency, Nationalization, Merger
  Event or Tender Offer, one Share or a unit consisting of the number or amount
  of each type of property

  

 

13

 

	
   

  	
   

  	
  received by a holder of
  one Share (without consideration of any requirement to pay cash or other
  consideration in lieu of fractional amounts of any securities) in such
  Insolvency, Nationalization, Merger Event or Tender Offer.  If such Insolvency, Nationalization, Merger
  Event or Tender Offer involves a choice of consideration to be received by
  holders, such holder shall be deemed to have elected to receive the maximum
  possible amount of cash.

  
	
   

  	
   

  	
   

  
	
  Failure to Deliver:

  	
   

  	
  Applicable

  
	
   

  	
   

  	
   

  
	
  Other applicable
  provisions:

  	
   

  	
  If Share Termination
  Alternative is applicable, the provisions of Sections 9.8, 9.9, 9.10,
  9.11 and 9.12 of the Equity Definitions will be applicable as if Physical
  Settlement applied to the termination of the Transaction, except that all
  references to “Shares” shall be read as references to “Share Termination
  Delivery Units”; and provided
  that the Representation and Agreement contained in Section 9.11 of the
  Equity Definitions shall be modified by excluding any representations therein
  relating to restrictions, obligations, limitations or requirements under
  applicable securities laws as a result of the fact that Buyer is the issuer
  of any Share Termination Delivery Units (or any part thereof).

  

 

13.   Set-Off.  The parties agree to amend Section 6 of
the Agreement by replacing Section 6(f) in its entirety with the
following:

 

“(f)  Upon the occurrence of an Event of Default
or Termination Event with respect to a party who is the Defaulting Party or the
Affected Party (“X”), the other party (“Y”) will have the right (but not be obliged) without prior
notice to X or any other person to set-off or apply any obligation of X under
an Equity Contract owed to Y (or any Affiliate of Y) (whether or not matured or
contingent and whether or not arising under the Agreement, and regardless of
the currency, place of payment or booking office of the obligation) against any
obligation of Y (or any Affiliate of Y) under an Equity Contract owed to X
(whether or not matured or contingent and whether or not arising under the
Agreement, and regardless of the currency, place of payment or booking office
of the obligation).  Y will give notice
to the other party of any set-off effected under this Section 6(f).

 

“Equity Contract”
shall mean for purposes of this Section 6(f) any transaction relating
to Shares between X and Y (or any Affiliate of Y) that qualifies as ‘equity’
under applicable accounting rules.

 

Amounts (or the relevant portion of such amounts)
subject to set-off may be converted by Y into the Termination Currency at the
rate of exchange at which such party would be able, acting in a reasonable
manner and in good faith, to purchase the relevant amount of such currency.

 

If any obligation is unascertained, Y may in good
faith estimate that obligation and set-off in respect of the estimate, subject
to the relevant party accounting to the other when the obligation is
ascertained.

 

Nothing in this Section 6(f) shall be
effective to create a charge or other security interest.  This Section 6(f) shall be without
prejudice and in addition to any right of set-off, combination of accounts,
lien or other right to which any party is at any time otherwise entitled
(whether by operation of law, contract or otherwise).”

 

14

 

14.   Amendment to Equity Definitions.  Solely for purposes of applying the Equity
Definitions and for purposes of this Confirmation, any reference in the Equity
Definitions to a Strike Price shall be deemed to be a reference to either of
the Strike Price or the Cap Price, or both, as appropriate.

 

15.   Disclosure.  Effective from the date of commencement of
discussions concerning the Transaction, Counterparty and each of its employees,
representatives, or other agents may disclose to any and all persons, without
limitation of any kind, the tax treatment and tax structure of the Transaction
and all materials of any kind (including opinions or other tax analyses) that
are provided to Counterparty relating to such tax treatment and tax structure.

 

16.   Unwind.  In the event the sale of the Convertible
Notes is not consummated with the initial purchasers pursuant to the
Underwriting Agreement, for any reason by the close of business in New York on April 15,
2009 (or such later
date as agreed upon by the parties which in no event shall be later than the
third Scheduled Trading Day following April 15, 2009) (such date or such later date as agreed
upon being the “Accelerated Unwind Date”), this
Transaction shall automatically terminate (the “Accelerated
Unwind”) on the Accelerated Unwind Date and (i) this
Transaction and all of the respective rights and obligations of Dealer and
Counterparty under this Transaction shall be cancelled and terminated and
(ii) each party shall be released and discharged by the other party from
and agrees not to make any claim against the other party with respect to any
obligations or liabilities of the other party arising out of and to be
performed in connection with this Transaction either prior to or after the
Accelerated Unwind Date; provided that Counterparty shall reimburse Dealer for any
costs or expenses (including market losses) relating to the unwinding of its
hedging activities in connection with the Transaction (including any loss or
cost incurred as a result of its terminating, liquidating, obtaining or
reestablishing any hedge or related trading position), which shall be
paid in cash or Shares at the option of the Counterparty (and if paid in
Shares, with the market valuation of such Shares being determined in a
commercially reasonable manner by the Calculation Agent).  The
amount of any such reimbursement shall be determined by Dealer in its sole good
faith discretion.  Dealer shall notify
Counterparty of such amount and Counterparty shall pay such amount in
immediately available funds on the Early Unwind Date.  Dealer and Counterparty represent and
acknowledge to the other that upon an Accelerated Unwind and the satisfaction
of counterparty’s payment obligation, if any, as specified in this
Section 16, all obligations with respect to this Transaction shall be
deemed fully and finally discharged.

 

17.   No Collateral by Counterparty.  No collateral is required
to be posted by Counterparty in respect of this Transaction.

 

15

 

18.   Disposition of Hedge Shares.  Counterparty hereby agrees that if at any
time, in the reasonable judgment of counsel for the Dealer, the Shares acquired
by Dealer for the purpose of hedging its obligations pursuant to the
Transaction (other than such Shares, if any, that are, at the time of such
determination, due to be delivered to Counterparty in connection with a Net
Share Settlement of the Transaction) (the “Hedge Shares”),
cannot be sold in the U.S. public market by Dealer without registration under
the Securities Act, Counterparty shall, at its election: (i) in order to
allow Dealer to sell the Hedge Shares in a registered offering, use its
commercially reasonable efforts to make available to Dealer an effective
registration statement under the Securities Act to cover the resale of such
Hedge Shares and (A) enter into an agreement, in form and substance
reasonably satisfactory to Dealer, substantially in the form of an underwriting
agreement for a registered offering, (B) provide accountant’s “comfort”
letters in customary form for registered offerings of equity securities,
(C) provide disclosure opinions of nationally recognized outside counsel
to Counterparty customary in form for registered offerings of equity
securities, (D) provide other customary opinions, certificates and closing
documents customary in form for registered offerings of equity securities and
(E) afford Dealer a reasonable opportunity to conduct a “due diligence”
investigation with respect to Counterparty customary in scope for underwritten
offerings of equity securities; provided, however,
that if Dealer, in its reasonable discretion, is not satisfied with access to
due diligence materials, the results of its due diligence investigation, or the
procedures and documentation for the registered offering referred to above,
then clause (ii) or clause (iii) of this Section 18 shall apply
at the election of Counterparty; (ii) in order to allow Dealer to sell the
Hedge Shares in a private placement, enter into a private placement agreement
substantially similar to private placement purchase agreements customary for
private placements of equity securities, in form and substance reasonably
satisfactory to Dealer, including customary representations, covenants, blue
sky and other governmental filings and/or registrations, indemnities to Dealer,
due diligence rights (for Dealer or any designated buyer of the Hedge Shares
from Dealer), opinions and certificates and such other documentation as is
customary for private placements agreements, all reasonably acceptable to
Dealer (in which case, the Calculation Agent shall make any adjustments to the
terms of the Transaction that are necessary, in its reasonable judgment, to
compensate Dealer for any discount from the public market price of the Shares
incurred on the sale of Hedge Shares in a private placement); or
(iii) purchase the Hedge Shares from Dealer at the VWAP Price on such
Exchange Business Days, and in the amounts, as requested by Dealer.

 

19.   Opinion of Counsel.  Counterparty shall deliver an opinion of
counsel, dated as of the Trade Date, in substantially the form attached hereto
as Annex B.

 

20.   Waiver of Trial by Jury.  EACH OF COUNTERPARTY AND
DEALER HEREBY IRREVOCABLY WAIVES (ON ITS OWN BEHALF AND, TO THE EXTENT
PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS STOCKHOLDERS) ALL RIGHT TO TRIAL
BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT,
TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE TRANSACTION OR THE ACTIONS
OF DEALER OR ITS AFFILIATES OR COUNTERPARTY OR ITS AFFILIATES IN THE
NEGOTIATION, PERFORMANCE OR ENFORCEMENT HEREOF.

 

21.   Governing Law.  THE AGREEMENT AND
THIS CONFIRMATION SHALL BE GOVERNED BY THE LAWS OF
THE STATE OF NEW YORK.  THE PARTIES
HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE
STATE OF NEW YORK AND THE UNITED STATES COURT FOR THE SOUTHERN DISTRICT OF NEW
YORK IN CONNECTION WITH ALL MATTERS RELATING HERETO AND WAIVE ANY OBJECTION TO
THE LAYING OF VENUE IN, AND ANY CLAIM OF INCONVENIENT FORUM WITH RESPECT TO,
THESE COURTS.

 

22.   Regulatory Provisions.  Counterparty
represents and warrants that it has received and read and understands the
Notice of Regulatory Treatment and the OTC Option Risk Disclosure Statement.

 

16

 

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

 

	
   

  	
   

  	
  Yours faithfully,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GOLDMAN, SACHS & CO.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Daniel W. Kopper  

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Daniel W. Kopper

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  

 

 

Agreed and
Accepted By:

 

MICRON
TECHNOLOGY, INC.

 

 

	
  By:

  	
  /s/
  Ronald C. Foster

  	
   

  	
   

  
	
   

  	
  Name: 

  	
  Ronald C. Foster

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Vice President of
  Finance and

  Chief Financial Officer

  	
   

  	
   

  

 

[Confirmation Signature
Page]

 

 

ANNEX A

 

	
  Component

  	
   

  	
  Number of Options per

  Component

  	
   

  	
  Premium per

  Component

  	
   

  	
  Expiration Date

  	
   

  
	
  1

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/16/2012

  	
   

  
	
  2

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/17/2012

  	
   

  
	
  3

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/18/2012

  	
   

  
	
  4

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/19/2012

  	
   

  
	
  5

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/22/2012

  	
   

  
	
  6

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/23/2012

  	
   

  
	
  7

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/24/2012

  	
   

  
	
  8

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/25/2012

  	
   

  
	
  9

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/26/2012

  	
   

  
	
  10

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/29/2012

  	
   

  
	
  11

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/30/2012

  	
   

  
	
  12

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  10/31/2012

  	
   

  
	
  13

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/1/2012

  	
   

  
	
  14

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/2/2012

  	
   

  
	
  15

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/5/2012

  	
   

  
	
  16

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/6/2012

  	
   

  
	
  17

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/7/2012

  	
   

  
	
  18

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/8/2012

  	
   

  
	
  19

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/9/2012

  	
   

  
	
  20

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/12/2012

  	
   

  
	
  21

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/13/2012

  	
   

  
	
  22

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/14/2012

  	
   

  
	
  23

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/15/2012

  	
   

  
	
  24

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/16/2012

  	
   

  
	
  25

  	
   

  	
  708,138.72

  	
   

  	
  $

  	
  387,000.00

  	
   

  	
  11/19/2012

  	
   

  

 

	
  Aggregate Premium for all Components

  
	
  $

  	
  9,675,000.00

  

 

 

Schedule (as contemplated by
the confirmation dated April 8, 2008 between Micron Technology, Inc.
and Goldman, Sachs & Co. for issuer capped share call option
transaction (the “Confirmation”)) setting forth the increased Number
of Options for all Components upon the exercise of the option to
purchase additional 4.25% Convertible Senior Notes due October 15, 2013
pursuant to Section 2 of the Underwriting Agreement (as defined in the
Confirmation).

 

	
  Component

  	
   

  	
  Number of Options per

  Component

  	
   

  	
  Premium per

  Component

  	
   

  	
  Expiration Date

  	
   

  
	
  1

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/16/2012

  	
   

  
	
  2

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/17/2012

  	
   

  
	
  3

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/18/2012

  	
   

  
	
  4

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/19/2012

  	
   

  
	
  5

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/22/2012

  	
   

  
	
  6

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/23/2012

  	
   

  
	
  7

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/24/2012

  	
   

  
	
  8

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/25/2012

  	
   

  
	
  9

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/26/2012

  	
   

  
	
  10

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/29/2012

  	
   

  
	
  11

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/30/2012

  	
   

  
	
  12

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  10/31/2012

  	
   

  
	
  13

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/1/2012

  	
   

  
	
  14

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/2/2012

  	
   

  
	
  15

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/5/2012

  	
   

  
	
  16

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/6/2012

  	
   

  
	
  17

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/7/2012

  	
   

  
	
  18

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/8/2012

  	
   

  
	
  19

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/9/2012

  	
   

  
	
  20

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/12/2012

  	
   

  
	
  21

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/13/2012

  	
   

  
	
  22

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/14/2012

  	
   

  
	
  23

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/15/2012

  	
   

  
	
  24

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/16/2012

  	
   

  
	
  25

  	
   

  	
  814,359.528

  	
   

  	
  $

  	
  445,050.00

  	
   

  	
  11/19/2012

  	
   

  

 

	
  Aggregate
  Premium for all Components

  
	
  $

  	
  11,126,250.00

  

 

 

ANNEX B

 

Form of
Opinion

 

1.                                     The Company has been duly incorporated
and is an existing corporation in good standing under the laws of the State of
Delaware.

 

2.                                     The Company is duly qualified as a
foreign corporation for the transaction of business and is in good standing in
the State of Idaho.

 

3.                                     The Confirmation has been duly
authorized, executed and delivered by the Company.

 

4.                                     The execution and delivery by the Company
of the Confirmation does not result in any violation by the Company of the
Certificate of Incorporation or the Bylaws.

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