Document:

exv10w29

 

Exhibit-10.29

EXECUTION COPY

 

AMENDED AND RESTATED SHAREHOLDER AGREEMENT

among

Avago Technologies Limited,

Silver Lake Partners II Cayman, L.P.,

Silver Lake Technology Investors II Cayman, L.P.

Integral Capital Partners VII, L.P.

KKR Millennium Fund (Overseas), Limited Partnership,

KKR European Fund, Limited Partnership,

KKR European Fund II, Limited Partnership,

KKR Partners (International), Limited Partnership,

Capstone Equity Investors LLC,

Avago Investment Partners, Limited Partnership,

Bali Investments S.à r.l.,

Seletar Investments Pte. Ltd.,

Geyser Investment Pte Ltd and

certain other Persons

Dated as of February 3, 2006

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Page	 
	1.	 	AMENDMENT AND RESTATEMENT; EFFECTIVE DATE	 	 	2	 
	 
	 	 	 	 	 	 	 	 	 	 
	2.	 	VOTING AGREEMENT	 	 	3	 
	 	 	2.1	 	Board of Directors	 	 	3	 
	 
	 	 	 	2.1.1.	 	Board Size 	 	 	3	 
	 
	 	 	 	2.1.2.	 	Designation of Directors 	 	 	3	 
	 
	 	 	 	2.1.3.	 	Board Observer 	 	 	3	 
	 
	 	 	 	2.1.4.	 	Sell-Down Provisions 	 	 	3	 
	 	 	2.2	 	Removal and Replacement; Vacancies	 	 	4	 
	 
	 	 	 	2.2.1.	 	Removal and Replacement; Vacancies Generally 	 	 	4	 
	 
	 	 	 	2.2.2.	 	Vacancies upon a Reduction in a Sponsor’s Ownership Percentage 	 	 	5	 
	 	 	2.3	 	Directors of Subsidiaries	 	 	5	 
	 	 	2.4	 	Committees	 	 	5	 
	 
	 	 	 	2.4.1.	 	Composition 	 	 	5	 
	 
	 	 	 	2.4.2.	 	Authority 	 	 	6	 
	 	 	2.5	 	Actions Requiring Majority Sponsor Approval	 	 	6	 
	 
	 	 	 	2.5.1.	 	Composition of the Board 	 	 	6	 
	 
	 	 	 	2.5.2.	 	Memorandum or Articles 	 	 	6	 
	 
	 	 	 	2.5.3.	 	Change in Control 	 	 	6	 
	 
	 	 	 	2.5.4.	 	Certain Dispositions 	 	 	6	 
	 
	 	 	 	2.5.5.	 	Certain Acquisitions 	 	 	6	 
	 
	 	 	 	2.5.6.	 	Certain Joint Ventures and Business Alliances 	 	 	7	 
	 
	 	 	 	2.5.7.	 	Initial Public Offering 	 	 	7	 
	 
	 	 	 	2.5.8.	 	Equity Issuances 	 	 	7	 
	 
	 	 	 	2.5.9.	 	Certain Indebtedness 	 	 	7	 
	 
	 	 	 	2.5.10.	 	Dissolution; Liquidation; Reorganization; Bankruptcy 	 	 	7	 
	 
	 	 	 	2.5.11.	 	Transactions Outside of the Ordinary Course of Business 	 	 	7	 
	 
	 	 	 	2.5.12.	 	Executive Officers 	 	 	8	 
	 
	 	 	 	2.5.13.	 	Executive Compensation 	 	 	8	 
	 
	 	 	 	2.5.14.	 	Litigation 	 	 	8	 
	 
	 	 	 	2.5.15.	 	Dividends; Distributions; Repurchase of Securities 	 	 	8	 
	 
	 	 	 	2.5.16.	 	Affiliated Transactions 	 	 	8	 
	 
	 	 	 	2.5.17.	 	Annual Budgets 	 	 	9	 
	 
	 	 	 	2.5.18.	 	Nature of Business 	 	 	9	 
	 
	 	 	 	2.5.19.	 	Financial Auditors 	 	 	9	 
	 
	 	 	 	2.5.20.	 	Management Shareholder Agreement; Capstone Shareholder Agreement	 	 	9	 
	 	 	2.6	 	Disproportionate Effects on Co-Investors	 	 	9	 
	 	 	2.7	 	Further Assurances by all Shareholders	 	 	9	 
	 
	 	 	 	2.7.1.	 	Board of Directors Provisions 	 	 	9	 
	 
	 	 	 	2.7.2.	 	Approved Change in Control 	 	 	9	 
	 	 	2.8	 	Actions in Contravention	 	 	10	 
	 	 	2.9	 	Period	 	 	10	 

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	 	 	 	 	 	 	 	 	Page	 
	3.	 	TRANSFER RESTRICTIONS	 	 	10	 
	 	 	3.1	 	General Transfer Restrictions	 	 	10	 
	 	 	3.2	 	Allowed Transfers	 	 	10	 
	 
	 	 	 	3.2.1.	 	Permitted Transferees 	 	 	10	 
	 
	 	 	 	3.2.2.	 	Public Transfers 	 	 	10	 
	 
	 	 	 	3.2.3.	 	Distributions and Charitable Contributions 	 	 	11	 
	 
	 	 	 	3.2.4.	 	Participation in Drag-Along and Tag-Along 	 	 	11	 
	 
	 	 	 	3.2.5.	 	Transfers by Co-Investors 	 	 	11	 
	 
	 	 	 	3.2.6.	 	Other Private Transfers 	 	 	11	 
	 
	 	 	 	3.2.7.	 	Luxco and Avago Partners Distributions 	 	 	12	 
	 	 	3.3	 	Certain Transferees to Become Parties	 	 	12	 
	 	 	3.4	 	Restrictions on Public Transfers under Rule 144	 	 	12	 
	 	 	3.5	 	Impermissible Transfer	 	 	13	 
	 	 	3.6	 	Notice of Transfer	 	 	13	 
	 	 	3.7	 	Period	 	 	13	 
	 
	 	 	 	 	 	 	 	 	 	 
	4.	 	“TAG ALONG” AND “DRAG ALONG” RIGHTS; RIGHT OF FIRST REFUSAL	 	 	13	 
	 	 	4.1	 	Tag Along	 	 	13	 
	 
	 	 	 	4.1.1.	 	Notice	 	 	13	 
	 
	 	 	 	4.1.2.	 	Exercise 	 	 	14	 
	 
	 	 	 	4.1.3.	 	Irrevocable Offer 	 	 	14	 
	 
	 	 	 	4.1.4.	 	Reduction of Shares Sold 	 	 	14	 
	 
	 	 	 	4.1.5.	 	Additional Compliance 	 	 	15	 
	 
	 	 	 	4.1.6.	 	Actions with Respect to Tag Along 	 	 	15	 
	 	 	4.2	 	Drag Along	 	 	15	 
	 
	 	 	 	4.2.1.	 	Exercise 	 	 	16	 
	 
	 	 	 	4.2.2.	 	Drag Along Seller Exclusions 	 	 	16	 
	 	 	4.3	 	Right of First Refusal	 	 	17	 
	 
	 	 	 	4.3.1.	 	Notice	 	 	17	 
	 
	 	 	 	4.3.2.	 	Exercise 	 	 	17	 
	 
	 	 	 	4.3.3.	 	Irrevocable Offer 	 	 	18	 
	 
	 	 	 	4.3.4.	 	Acceptance of Offers 	 	 	18	 
	 
	 	 	 	4.3.5.	 	Additional Compliance 	 	 	19	 
	 
	 	 	 	4.3.6.	 	Determination of the Number of Subject Shares to be Sold 	 	 	19	 
	 
	 	 	 	4.3.7.	 	Actions with respect to Rights of First Refusal 	 	 	20	 
	 
	 	 	 	4.3.8.	 	Company Assignment of Rights 	 	 	20	 
	 	 	4.4	 	Miscellaneous	 	 	20	 
	 
	 	 	 	4.4.1.	 	Further Assurances 	 	 	20	 
	 
	 	 	 	4.4.2.	 	Sale Process 	 	 	21	 
	 
	 	 	 	4.4.3.	 	Treatment of Options, Warrants and Convertible Securities 	 	 	21	 
	 
	 	 	 	4.4.4.	 	Closing 	 	 	22	 
	 	 	4.5	 	Period	 	 	22	 
	 
	 	 	 	 	 	 	 	 	 	 
	5.	 	PARTICIPATION RIGHTS	 	 	22	 
	 	 	5.1	 	Right of Participation	 	 	22	 
	 
	 	 	 	5.1.1.	 	Offer	 	 	22	 

- ii -

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Page	 
	 
	 	 	 	5.1.2.	 	Exercise 	 	 	23	 
	 
	 	 	 	5.1.3.	 	Other Securities 	 	 	24	 
	 
	 	 	 	5.1.4.	 	Certain Legal Requirements 	 	 	24	 
	 
	 	 	 	5.1.5.	 	Further Assurances 	 	 	25	 
	 
	 	 	 	5.1.6.	 	Closing 	 	 	25	 
	 	 	5.2	 	Post-Issuance Notice	 	 	25	 
	 	 	5.3	 	Excluded Transactions	 	 	26	 
	 	 	5.4	 	Acquired Shares	 	 	27	 
	 	 	5.5	 	Period	 	 	27	 
	 	 	5.6	 	Actions with respect to Participation Rights	 	 	27	 
	 
	 	 	 	 	 	 	 	 	 	 
	6.	 	COVENANTS	 	 	27	 
	 	 	6.1	 	Information Rights	 	 	27	 
	 
	 	 	 	6.1.1.	 	Historical Financial Information 	 	 	27	 
	 
	 	 	 	6.1.2.	 	Tax Information 	 	 	28	 
	 
	 	 	 	6.1.3.	 	Access	 	 	28	 
	 
	 	 	 	6.1.4.	 	Period	 	 	28	 
	 	 	6.2	 	Confidentiality	 	 	28	 
	 
	 	 	 	 	 	 	 	 	 	 
	7.	 	REMEDIES	 	 	30	 
	 	 	7.1	 	Generally	 	 	30	 
	 
	 	 	 	 	 	 	 	 	 	 
	8.	 	LEGENDS	 	 	30	 
	 	 	8.1	 	Restrictive Legend	 	 	30	 
	 	 	8.2	 	Securities Act Legend	 	 	30	 
	 	 	8.3	 	Stop Transfer Instruction	 	 	31	 
	 	 	8.4	 	Termination of the Securities Act Legend	 	 	31	 
	 
	 	 	 	 	 	 	 	 	 	 
	9.	 	AMENDMENT, TERMINATION, ETC	 	 	31	 
	 	 	9.1	 	Oral Modifications	 	 	31	 
	 	 	9.2	 	Written Modifications	 	 	31	 
	 	 	9.3	 	Effect of Termination	 	 	31	 
	 
	 	 	 	 	 	 	 	 	 	 
	10.	 	DEFINITIONS	 	 	31	 
	 	 	10.1	 	Certain Matters of Construction	 	 	31	 
	 	 	10.2	 	Definitions	 	 	32	 
	 
	 	 	 	 	 	 	 	 	 	 
	11.	 	MISCELLANEOUS	 	 	40	 
	 	 	11.1	 	Aggregation of Shares	 	 	40	 
	 	 	11.2	 	Authority; Effect	 	 	40	 
	 	 	11.3	 	Notices	 	 	40	 
	 	 	11.4	 	Binding Effect, Etc	 	 	46	 
	 	 	11.5	 	Descriptive Heading	 	 	46	 
	 	 	11.6	 	Counterparts	 	 	46	 
	 	 	11.7	 	Severability	 	 	46	 
	 	 	11.8	 	No Recourse	 	 	47	 
	 	 	11.9	 	Expenses; Indemnity	 	 	47	 

- iii -

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Page	 
	 	 	11.10	 	No Third Party Beneficiaries	 	 	48	 
	 	 	11.11	 	Consent of Shareholders to Advisory Agreement	 	 	48	 
	 
	 	 	 	 	 	 	 	 	 	 
	12.	 	GOVERNING LAW	 	 	48	 
	 	 	12.1	 	Governing Law	 	 	48	 
	 	 	12.2	 	Consent to Jurisdiction	 	 	48	 
	 	 	12.3	 	WAIVER OF JURY TRIAL	 	 	49	 
	 	 	12.4	 	Exercise of Rights and Remedies	 	 	49	 

- iv -

 

AMENDED AND RESTATED SHAREHOLDER AGREEMENT

     This Amended and Restated Shareholder Agreement (this “Agreement”) is made as of
February 3, 2006 by and among:

	 	(i)	 	Avago Technologies Limited, a public limited company organized under the laws
of Singapore (together with its successors and permitted assigns, the
“Company”);
	 
	 	(ii)	 	Bali Investments S.à r.l., a company organized under the laws of Luxembourg
(together with its Permitted Transferees, “Luxco”);
	 
	 	(iii)	 	Silver Lake Partners II Cayman, L.P. (“SLP Cayman”), Silver Lake
Technology Investors II Cayman, L.P. (together with SLP Cayman and, together with their
Permitted Transferees, “Silver Lake”) and Integral Capital Partners VII, L.P.
(together with its Permitted Transferees, “Integral Capital”) (collectively
with Silver Lake and together with their Permitted Transferees, “SLP”);
	 
	 	(iv)	 	KKR Millennium Fund (Overseas), Limited Partnership (“KKR Millennium”),
KKR European Fund, Limited Partnership (“KKR Europe”), KKR European Fund II,
Limited Partnership (“KKR Europe II”), and KKR Partners (International),
Limited Partnership (collectively, and together with their Permitted Transferees,
“KKR”);
	 
	 	(v)	 	Capstone Equity Investors LLC, a Delaware limited liability company (together
with its Permitted Transferees, “Capstone”);
	 
	 	(vi)	 	Avago Investment Partners, Limited Partnership, a limited partnership formed
under the Exempt Limited Partnership Law (2003 Revision) of the Cayman Islands
(together with its Permitted Transferees, “Avago Partners”);
	 
	 	(vii)	 	Seletar Investments Pte. Ltd., a private limited company organized under the
laws of Singapore (together with its Permitted Transferees, “Temasek”);
	 
	 	(viii)	 	Geyser Investment Pte Ltd, a private limited company organized under the laws of
Singapore (together with its Permitted Transferees, “Geyser”); and
	 
	 	(ix)	 	such other Persons, if any, that from time to time become parties hereto as
transferees of Shares pursuant to Section 3.3 (collectively, together with the
Sponsors, the “Shareholders”).

RECITALS

     WHEREAS, the Company and the Sponsors other than Capstone are party to that certain
Shareholder Agreement (the “Original Agreement”), dated December 1, 2005 (the “Original
Agreement Effective Date”), and desire to amend and restate the Original Agreement in its
entirety to read as set forth herein.

 

     WHEREAS, in connection herewith and with the purchase by Capstone of equity securities in
Luxco, Luxco is purchasing additional Company Shares pursuant to the terms of the Luxco Securities
Subscription Agreement.

     WHEREAS, in connection herewith Capstone shall receive an Option exercisable for Company
Shares (the “Capstone Option”). With respect to Company Shares purchased by Capstone upon
exercise of the Capstone Option, Capstone will be subject to the terms of a Shareholder Agreement,
dated as of the date hereof (the “Capstone Shareholder Agreement”), between the Company and
Capstone.

     WHEREAS, the Company is authorized by the Company Memorandum of Association to issue capital
stock consisting of 350,000,000 Ordinary Shares (the “Company Shares”) and 300,000
Redeemable Convertible Cumulative Preference Shares (the “Company Preferred”).

     WHEREAS, as of the Effective Date, Luxco is owned by SLP, KKR, Capstone and Avago Partners.

     WHEREAS, as of the Effective Date, each of the Sponsors owns the number of Company Shares set
forth opposite such Sponsor’s name on Schedule I attached hereto, including in the case of
SLP, KKR, Capstone and Avago Partners, their pro rata share of Company Shares owned by Luxco, based
upon their ownership of Luxco equity securities.

     WHEREAS, certain managers of the Company and its Subsidiaries have purchased or may purchase
Company Shares, or have received or may receive Options exercisable for Company Shares, pursuant to
the Company’s Equity Incentive Plan for Executive Employees of Avago Technologies Limited and
Subsidiaries (the “Management Equity Plan”). With respect to Company Shares purchased by
such certain managers under the Management Equity Plan, or any Company Shares issued to such
certain managers upon exercise of any Options granted under the Management Equity Plan, the holders
thereof (and their permitted transferees) (collectively, the “Management Shareholders”)
will be subject to the terms of a Management Shareholder Agreement, dated as of the date hereof
(the “Management Shareholder Agreement”), among the Company and the Management
Shareholders.

     WHEREAS, the parties hereto desire to establish the composition of the Company’s board of
directors (the “Board”), to restrict the sale, assignment, transfer, encumbrance or other
disposition of Company Shares, to provide for certain additional covenants and to provide for
certain rights and obligations as between themselves in relation to the affairs of the Company and
its Subsidiaries as hereinafter provided.

AGREEMENT

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

1. AMENDMENT AND RESTATEMENT; EFFECTIVE DATE. This Agreement amends and restates the Original Agreement in full to read as set forth herein,
and this Agreement shall become effective as of the date first written above (the “Effective
Date”).

 - 2 - 

 

2. VOTING AGREEMENT.

     2.1 Board of Directors.

     2.1.1. Board Size. The authorized number of directors of the Board shall be
fixed at ten (10), or such other number as is determined from time to time pursuant to
Section 2.5.1.

     2.1.2. Designation of Directors. Subject to Section 2.1.3, the following
persons shall be elected to the Board:

     (a) three (3) persons designated by Silver Lake, who shall initially be James
A. Davidson, Kenneth Y. Hao and John R. Joyce (the “SLP Designees”);

     (b) three (3) persons designated by KKR, one of whom shall be designated by KKR
Millennium, who shall initially be Simon E. Brown, one of whom shall be designated
by KKR Europe, who shall initially be Adam H. Clammer, and one of whom shall be
designated by KKR Europe II, who shall initially be James H. Greene, Jr. (the
“KKR Designees”);

     (c) one (1) person designated by Temasek, who shall initially be Kok Leng Soo,
and who shall at all times be a person who qualifies as the Company’s Singapore
resident director (the “Temasek Designee” and together with the SLP
Designees and KKR Designees, the “Sponsor Designees”);

     (d) one (1) person who shall be the then current Chief Executive Officer of the
Company;

     (e) two (2) persons who shall be designated by mutual agreement of Silver Lake
and KKR.

     2.1.3. Board Observer. Geyser shall be entitled to designate one (1) person
(the “Observer”), who shall be reasonably acceptable to the Company and shall
initially be Tay Lim Hock, to attend all meetings of the Board, and the Company shall
provide to the Observer, concurrently with the members of the Board and in the same manner,
notice of such meetings and a copy of all materials provided to such members; provided, however, the
Board, by majority vote, shall be entitled to exclude the Observer from portions of any
Board meeting and to cause portions of any Board materials delivered to the Observer to be
redacted where and to the extent that the Board determines that exclusion is reasonably
necessary to preserve attorney-client privilege; provided, further, for the
avoidance of doubt, the Observer shall be subject to the confidentiality obligations set
forth in Section 6.2 hereof and Geyser shall be responsible for the Observer’s compliance
therewith.

     2.1.4. Sell-Down Provisions.

     (a) In the event that Silver Lake has sold any of its Company Equity Shares or
otherwise transferred any of its Company Equity Shares to an

 - 3 - 

 

unaffiliated entity, or
Luxco has sold any of its Company Equity Shares and distributed the proceeds to
Silver Lake, and SLP (x) ceases to own at least 24% of the Outstanding Company
Shares but continues to own at least 15% of the Outstanding Company Shares, Silver
Lake shall no longer have the right to designate three (3) Sponsor Designees and
shall have the right to designate only two (2) Sponsor Designees, (y) ceases to own
at least 15% of the Outstanding Company Shares but continues to own at least 5% of
the Outstanding Company Shares, Silver Lake shall no longer have the right to
designate two (2) Sponsor Designees and shall have the right to designate only one
(1) Sponsor Designee, and (z) ceases to own at least 5% of the Outstanding Company
Shares, Silver Lake shall no longer have the right to designate any Sponsor
Designees.

     (b) In the event that KKR has sold any of its Company Equity Shares or
otherwise transferred any of its Company Equity Shares to an unaffiliated entity, or
Luxco has sold any of its Company Equity Shares and distributed the proceeds to KKR,
and KKR (x) ceases to own at least 24% of the Outstanding Company Shares but
continues to own at least 15% of the Outstanding Company Shares, it shall no longer
have the right to designate three (3) Sponsor Designees and shall have the right to
designate only two (2) Sponsor Designees (in which case, the Board Designators (as
defined below) will be KKR Millennium and KKR Europe II), (y) ceases to own at least
15% of the Outstanding Company Shares but continues to own at least 5% of the
Outstanding Company Shares, it shall no longer have the right to designate two (2)
Sponsor Designees and shall have the right to designate only one (1) Sponsor
Designee (in which case, the Board Designator will be KKR Europe II), and (z) ceases
to own at least 5% of the Outstanding Company Shares, it shall no longer have the
right to designate any Sponsor Designees.

     (c) In the event that Temasek ceases to own the lesser of (x) at least 2.5% of
the Outstanding Company Shares, provided that it has not sold any of its Company
Equity Shares, or (y) at least 5% of the Outstanding Company Shares, it shall no
longer have the right to designate the Temasek Designee.

     (d) In the event that Geyser ceases to own the lesser of (x) at least 2.5% of
the Outstanding Company Shares, provided that it has not sold any of its Company
Equity Shares, or (y) at least 5% of the Outstanding Company Shares, it shall no
longer have the right to designate the Observer.

     2.2 Removal and Replacement; Vacancies.

     2.2.1. Removal and Replacement; Vacancies Generally. Subject to Section 2.2.2,
members of the Board designated by Silver Lake, KKR Millennium, KKR Europe, KKR Europe II or
Temasek (each, a “Board Designator”), as the case may be, may be removed by, and
only by, the affirmative vote or written consent of such Board Designator. If, prior to his
or her election to the Board, any person is unable or unwilling to serve as a Sponsor
Designee, then the applicable Board Designator shall, subject to Section 2.1.3, be entitled
to designate a replacement. If, following election to the Board,

 - 4 - 

 

any Sponsor Designee
resigns, is removed, or is unable to serve for any reason prior to the expiration of his or
her term as a director, then, subject to Section 2.1.3, the applicable Board Designator
shall be entitled to designate a replacement. If any Board Designator entitled to designate
a person to fill any directorship fails to do so, then such directorship shall remain vacant
until filled by such Board Designator.

     2.2.2. Vacancies upon a Reduction in a Sponsor’s Ownership Percentage. To the
extent that, pursuant to Section 2.1.4, there is any reduction in the number of Sponsor
Designees that any Board Designator is entitled to designate, then such Board Designator
shall send a written notice to the Secretary of the Company stating the name of the Sponsor
Designee(s) to be removed from the Board and, upon receipt of such notice by the Secretary
of the Company (or, in the event such Board Designator fails to deliver such notice within
ten (10) days after written request from the Company, such selection of a Sponsor
Designee(s) of such Board Designator shall be made by the Company by lot), such Sponsor
Designee(s) shall be deemed to have resigned from the Board, and the vacancy or vacancies
created thereby (and, thereafter, any vacancies created in that particular directorship)
shall be filled by a person designated by the Board acting in accordance with the Company’s
nomination and governance procedures.

     2.3 Directors of Subsidiaries. The size and composition of the boards of directors of
the Company’s Subsidiaries shall be as determined by the Board; provided that, if at any
time any Person other than an employee of the Company or any of its Subsidiaries (other than a
Person who is also an employee, partner, member, shareholder or Affiliate of any Sponsor) is
appointed to the board of directors of any Subsidiary of the Company, then each Board Designator
shall have the right to designate a number of members to such board of directors in the same
proportion as such Board Designator has the right to designate Sponsor Designees to the Board under
Section 2.1.

     2.4 Committees .

     2.4.1. Composition. The Board may from time to time designate one or more
committees, each of which shall have such number of members as is determined from time to
time by the Board acting in accordance with the Company’s nomination and governance
procedures; provided that for so long as Silver Lake or KKR is entitled to designate
one or more Sponsor Designees under Section 2.1, it shall have the right to designate one of
its Sponsor Designees to serve as a member of each of the Board’s committees (and if it has
more than one Sponsor Designee, it may appoint a different Sponsor Designee to different
Board committees). To the extent that a Sponsor Designee is removed from the Board pursuant
to Section 2.2.2, such Sponsor Designee shall be deemed to have resigned from all committees
upon which such Sponsor Designee is serving. Any vacancies on the Board’s committees
created thereby (and, thereafter, any vacancies created in these committee memberships)
shall, subject to this Section 2.4.1 to the extent Silver Lake or KKR continues to have the
right to appoint one of its Sponsor Designees to the Board’s committees, be filled by the
Board acting in accordance with the Company’s nomination and governance procedures.

 - 5 - 

 

     2.4.2. Authority. Each of the Board’s committees, to the extent provided in
the enabling resolution of such committee, the Company Articles of Association or this
Agreement, shall have and may exercise all of the authority of the Board delegated to such
committee. Any such delegation may be revoked at any time by action of the Board.
Notwithstanding the foregoing, no committee of the Board shall have the power to act for the
Board where such action would require Majority Sponsor Approval or otherwise expressly
require the vote or consent of a majority of the Board’s directors under applicable law, the
Company Memorandum of Association or Company Articles of Association or this Agreement.

     2.5 Actions Requiring Majority Sponsor Approval. Except as expressly provided in this
Section 2.5, Majority Sponsor Approval is required for the following actions by the Company and/or
its Subsidiaries:

     2.5.1. Composition of the Board. Except as otherwise expressly provided in
this Agreement, change the size or the composition of the Board or any committee of the
Board or the board of directors or similar governing body of any Subsidiary;
provided, however, the prior written consent of Temasek shall also be
required to amend, delete or otherwise change its rights under Section 2.1.4(c);
provided, further, the prior written consent of Geyser shall also be
required to amend, delete or otherwise change its rights under Section 2.1.4(d).

     2.5.2. Memorandum or Articles. Amend, modify or waive any provision of the Company Memorandum of Association or
Company Articles of Association (including to provide for the issuance of any class of
securities not then currently held by Sponsors) or the memorandum of association, articles
or association, certificate of incorporation or by-laws or similar governing document of any
of the Subsidiaries, except for such amendments as are required by applicable law. Majority
Sponsor Approval shall also be required for any share split, reverse stock split,
recapitalization, exchange or any other combination in any manner of the Company Equity
Shares in connection with which any Sponsor would receive more than a de minimis amount of
cash in lieu of fractional shares.

     2.5.3. Change in Control. Enter into or effect a Change in Control.

     2.5.4. Certain Dispositions. Directly or indirectly, enter into or effect any
transaction or series of related transactions involving the sale, lease, license, exchange
or other disposal (including by merger, consolidation, sale of stock, or sale of assets) by
the Company or the Subsidiaries of any assets having a fair market value or for
consideration having a fair market value (in each case as reasonably determined by the
Board) in excess of US$25,000,000, other than transactions solely between and among the
Company and Wholly Owned Subsidiaries.

     2.5.5. Certain Acquisitions. Directly or indirectly, enter into or effect any
transaction or series of related transactions involving the purchase, lease, license,
exchange or other acquisition (including by merger, consolidation, acquisition of stock, or
acquisition of assets) by the Company or the Subsidiaries of any assets and/or equity

 - 6 - 

 

securities of any Person for consideration having a fair market value (as reasonably
determined by the Board) in excess of US$25,000,000, other than transactions solely between
and among the Company and Wholly Owned Subsidiaries.

     2.5.6. Certain Joint Ventures and Business Alliances. Enter into any joint
venture or similar business alliance involving investment, contribution or disposition by
the Company or the Subsidiaries of assets (including stock of Subsidiaries) having a fair
market value (as reasonably determined by the Board) in excess of US$25,000,000 other than
transactions solely between and among the Company and Wholly Owned Subsidiaries.

     2.5.7. Initial Public Offering. Initiate or consummate the Initial Public
Offering.

     2.5.8. Equity Issuances . Issue or sell any equity securities (including any Company Equity Shares, options,
warrants, or other securities convertible into, or exercisable or exchangeable for, equity
securities), other than an Exempt Issuance.

     2.5.9. Certain Indebtedness. Incur (or extend, supplement, or otherwise modify
any of the material terms of) any indebtedness (including any refinancing of existing
indebtedness); assume, guarantee, endorse or otherwise as an accommodation become
responsible for the obligations of any other Person (provided that the Company or any
Subsidiary may provide cross-guarantees for any indebtedness in existence as of the Original
Agreement Effective Date or that has otherwise been approved under this Section 2.5.9);
enter into (or extend, supplement, or otherwise modify any of the material terms of) any
agreement under which it may incur indebtedness in the future; or make any loan, advance or
capital contribution to any Person (other than the Company or any Wholly Owned
Subsidiaries); or make any voluntary prepayment of indebtedness of the Company or any of the
Subsidiaries outside the ordinary course of business; in each case in an aggregate principal
amount in excess of US$25,000,000 in any transaction or series of related transactions, and
other than (x) a draw down in the ordinary course of business under a debt agreement entered
into prior to the date of such draw down, the execution of which previously received
Majority Sponsor Approval or (y) occurred on or prior to the Original Agreement Effective
Date.

     2.5.10. Dissolution; Liquidation; Reorganization; Bankruptcy. Dissolve,
liquidate or engage in any recapitalization or reorganization of the Company or any
Subsidiary or initiate a voluntary liquidation, dissolution, receivership, bankruptcy or
other insolvency proceeding involving the Company or any Subsidiary.

     2.5.11. Transactions Outside of the Ordinary Course of Business. Except as
provided in any annual operating budget or capital expenditure budget which received
Majority Sponsor Approval pursuant to Section 2.5.17, enter into any contractual commitment
or series of related contractual commitments outside of the ordinary course of business that
are reasonably expected, at the time initially undertaken, to require expenditures or
generate proceeds in an amount in excess of US$10,000,000.

 - 7 - 

 

     2.5.12. Executive Officers. Hire or remove, with or without cause, any Senior
Manager.

     2.5.13. Executive Compensation. Establish, or amend any material term of, (a)
any employment agreement or arrangement with any Senior Manager, (b) the compensation
(including salary, bonus, deferred compensation, any equity or equity-linked compensation,
or otherwise) or benefits of any Senior Manager, (c) any benefit, severance, management
equity, or other similar plan or program applicable to Senior Managers or to employees of the Company or
any of its Subsidiaries or (d) any annual bonus plan or any management equity plan.

     2.5.14. Litigation. Commence any action, dispute, claim, arbitration, hearing,
investigation, litigation, proceeding, inquiry, examination or suit (whether civil,
criminal, administrative, investigative or informal) commenced, brought, conducted or heard
by or before, or otherwise involving, any domestic or foreign court or other tribunal,
legislature, division, department, agency, commission, official, organization, unit or other
entity or a judicial or regulatory authority of any government, involving amounts in dispute
in excess of US$5,000,000, or settle any action, dispute, claim, arbitration, hearing,
investigation, litigation, proceeding, inquiry, examination or suit (whether civil,
criminal, administrative, investigative or informal) commenced, brought, conducted or heard
by or before, or otherwise involving, any domestic or foreign court or other tribunal,
legislature, division, department, agency, commission, official, organization, unit or other
entity or a judicial or regulatory authority of any government, involving payment or
payments, or discounts on products or services, in excess of US$5,000,000, whether pursuant
to a license or otherwise, or which restrict the Company’s business in any material manner.

     2.5.15. Dividends; Distributions; Repurchase of Securities. Declare or pay any
cash or other dividend or make any distribution in respect of, including by way of capital
reductions, or enter into or effect any transaction or series of related transactions
involving the repurchase, redemption or other acquisition of, any equity securities
(including any options, warrants, or other securities convertible into, or exercisable or
exchangeable for, equity securities), other than (a) dividends or other distributions by a
Wholly Owned Subsidiary in respect of its outstanding securities, (b) redemptions or other
repurchases of Company Shares from employees of the Company and its Subsidiaries upon
termination of employment pursuant to the Management Shareholder Agreement or arrangements
approved by the Board and (c) the redemption of Company Preferred from Shareholders (other
than Capstone) on a pro rata basis on or about January 26, 2006. All dividends or other
distributions, or repurchases or redemptions, approved pursuant to this Section 2.5.15 shall
be made in accordance with the distribution provisions of the Company Memorandum of
Association or Company Articles of Association or the relevant Subsidiary’s memorandum of
association, articles of association, certificate of incorporation, by-laws or other
organizational documents, as applicable.

     2.5.16. Affiliated Transactions. Enter into or effect any transaction with a
Majority Sponsor (or with an Affiliate of such Majority Sponsor, or with any officer,

 - 8 - 

 

director, or employee of such Majority Sponsor or its Affiliates), other than this
Agreement, the Securities Subscription Agreement, the Luxco Securities Subscription
Agreement, the Advisory Agreement and the Registration Rights Agreement and other than
transactions which do not have a
materially disproportionate effect on any of the Sponsors, in their capacity as
Shareholders, relative to the other Sponsors; and such Majority Sponsor shall be excluded
from the determination of Majority Sponsor Approval for such transaction under this Section
2.5.16.

     2.5.17. Annual Budgets. Approve or modify the annual operating budget or
capital expenditure budget of the Company or any Subsidiary.

     2.5.18. Nature of Business. Make any material change in the nature of the
business conducted by the Company and its Subsidiaries.

     2.5.19. Financial Auditors. Replace or remove, with or without cause, the
independent auditors of the Company.

     2.5.20. Management Shareholder Agreement; Capstone Shareholder Agreement.
Amend, waive or otherwise modify the Management Shareholder Agreement or Capstone
Shareholder Agreement in any material respect.

2.6 Disproportionate Effects on Co-Investors. Except for such actions as are
specifically set forth in this Agreement, the Company shall not take any action in respect
of any class of its shares that shall have a materially disproportionate effect on the
Co-Investors, in their capacity as Shareholders of such class of shares, as compared to the
Majority Sponsors, in their capacity as Shareholders of such class of shares, without first
obtaining the prior written consent of the Co-Investors holding a majority of the number of
such class of shares held by all the Co-Investors. Without limiting the foregoing, the
Company agrees that any repurchase or redemption of equity or debt securities by it will be
made pro rata, based upon the ownership of such securities, among the Sponsors.

2.7 Further Assurances by all Shareholders.

     2.7.1. Board of Directors Provisions. Each Shareholder hereby agrees to take,
at any time and from time to time, all actions necessary or desirable (whether in such
Shareholder’s capacity as a shareholder, director or officer of the Company or otherwise,
and including, without limitation, attendance at meetings in person or by proxy for the
purposes of achieving a quorum and voting such Shareholder’s Shares or execution of a
written consent in lieu of attending a
meeting) to accomplish the provisions of Sections 2.1 through 2.4, and the Company
agrees to take, at any time and from time to time, all actions necessary or desirable within
its control (including, without limitation, calling special board and shareholder meetings)
to ensure that the provisions of Sections 2.1 through 2.4 are accomplished.

     2.7.2. Approved Change in Control. With respect to any Change in Control that
has received the Majority Sponsor Approval required under Section 2.5.3, each Shareholder
agrees to cast all votes to which such Shareholder is entitled in respect of the Shares,
whether at any annual or special meeting, by written consent or otherwise, in

 - 9 - 

 

such manner as
the Majority Sponsors may instruct by written notice to approve, effect, or implement such
approved transaction. Each Shareholder hereby grants to the Majority Sponsors an
irrevocable proxy coupled with an interest to vote, including in any action by written
consent, such Shareholder’s Shares in accordance with such Shareholder’s agreements
contained in this Section 2.7.2, which proxy shall be valid and remain in effect until the
provisions of this Section 2.7.2 expire pursuant to Section 2.9.

     2.8 Actions in Contravention. Subject to applicable law, neither the Company nor any
of its Subsidiaries will give effect to any action by any Shareholder or any other Person which is
in contravention of this Section 2.

     2.9 Period. Each of the foregoing provisions of this Section 2 shall expire upon the
consummation of a Change in Control that has received Majority Sponsor Approval.

3. TRANSFER RESTRICTIONS.

     3.1 General Transfer Restrictions Each Shareholder understands and agrees that the
Shares held by such Shareholder on the date hereof have not been registered under the Securities
Act or registered or qualified under any state or foreign securities laws. No Shareholder shall
Transfer such Shares (or solicit any offers in respect of any Transfer of such Shares), except in
compliance with the Securities Act, any applicable state or foreign securities laws and any
restrictions on Transfer contained in this Agreement or any other provisions set forth in the
Securities Subscription Agreement (or, in the case of Luxco, the Luxco Securities Subscription
Agreement), the Registration Rights Agreement or any other agreements or instruments pursuant to
which such Shares were issued.

     3.2 Allowed Transfers. Until the expiration of the provisions of this Section 3, no
Shareholder shall Transfer any of such Shareholder’s Shares to any other Person except as follows:

     3.2.1. Permitted Transferees. Any Shareholder may Transfer any or all of such
Shareholder’s Shares to such Shareholder’s Permitted Transferees and, after complying with
the terms of Section 3.3, such a Permitted Transferee shall be deemed to be a Shareholder
hereunder.

     3.2.2. Public Transfers.

     (a) Any Shareholder may Transfer any or all of such Shareholders’ Shares in a
Public Offering in accordance with and pursuant to the Registration Rights
Agreement.

     (b) From and after the closing of the Initial Public Offering, a Majority
Sponsor may Transfer any or all of such Majority Sponsor’s Shares pursuant to Rule
144 and in compliance with Section 3.4, or pursuant to a block sale to a financial
institution in the ordinary course of its trading business; provided that any
Transfer pursuant to this Section 3.2.2(b) occurring during the two-year period
commencing on the closing of the Initial Public Offering shall not be made without
Majority Sponsor Approval.

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     (c) Shares Transferred pursuant to this Section 3.2.2 shall conclusively be
deemed thereafter not to be Shares under this Agreement.

     3.2.3. Distributions and Charitable Contributions. From and after the closing
of the Initial Public Offering, any Majority Sponsor may Transfer any or all of such
Shareholder’s Shares (a) in a pro rata Transfer to its partners, members or shareholders, as
applicable, or (b) to a Charitable Organization, in each case without regard to any other
restrictions on transfer contained elsewhere in this Agreement; provided that any Transfer
pursuant to this Section 3.2.3 occurring during the two-year period commencing on the
closing of the Initial Public Offering shall not be made without the approval of any other
Majority Sponsor. Any Shares so Transferred shall conclusively be deemed thereafter not to
be Shares under this Agreement.

     3.2.4. Participation in Drag-Along and Tag-Along.

     (a) Drag-Along. Any Shareholder shall Transfer any or all of such
Shareholder’s Shares to the extent required pursuant to Section 4.2.

     (b) Tag-Along. A Participating Seller may Transfer Shares pursuant to
and in accordance with the provisions of Section 4.1, so long as each transferee
agrees to be bound by the terms of this Agreement in accordance with Section 3.3 (if
not already bound hereby).

     3.2.5. Transfers by Co-Investors. In the event that a Co-Investor’s Current
Percentage Ownership of Shares is greater than the Current Percentage Ownership of Shares of
whichever of Silver Lake or KKR has the smallest Current Percentage Ownership of Shares at
such time, such Co-Investor may Transfer any of such Co-Investor’s Shares provided that
following any such Transfer such Co-Investor’s Current Percentage Ownership of Shares shall
not be less than the Current Percentage Ownership of Shares of whichever of Silver Lake or
KKR has the smallest Current Percentage Ownership of Shares at such time. Any Shares so
Transferred shall conclusively be deemed thereafter to be Shares under this Agreement and
each transferee shall be bound by the terms of this Agreement in accordance with Section
3.3; provided, however, that if such Shares are Transferred (a) in a Public
Offering, (b) from and after the closing of the Initial Public Offering, (i) pursuant to
Rule 144 or a block sale to a financial institution in the ordinary course of its trading
business, in each case in compliance with Section 3.4, or (ii) pursuant to Regulation S
under the Securities Act if such Shares following such Transfer are not “restricted
securities” as defined in Rule 144, (c) in a pro rata Transfer to its partners, members or
shareholders, as applicable, or (d) to a Charitable Organization, then the Shares
Transferred pursuant to this Section 3.2.5 shall conclusively be deemed thereafter not to be
Shares under this Agreement.

     3.2.6. Other Private Transfers. In addition to any Transfers made in
accordance with Sections 3.2.1, 3.2.2, 3.2.3, 3.2.4, 3.2.5 and 3.2.7, any Shareholder may
Transfer any or all of such Shareholder’s Shares with Majority Sponsor Approval if such
Transfer takes place before the closing of the Initial Public Offering and in compliance
with Sections 3.3, 4.1 and 4.3. Any Shares so Transferred shall conclusively be deemed
thereafter to be

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Shares under this Agreement and each transferee shall be bound by the terms
of this Agreement in accordance with Section 3.3.

     3.2.7. Luxco and Avago Partners Distributions. Luxco may at any time effect a
Transfer of any or all of its Shares in a pro rata Transfer to its shareholders, without
regard to any other restrictions on transfer contained elsewhere in this Agreement.
Following such a distribution by Luxco, Avago Partners may at any time effect a Transfer of
any or all of its Shares in a pro rata Transfer to its partners, without regard to any other
restrictions on transfer contained elsewhere in this Agreement. Any Shares so Transferred
by Luxco or Avago Partners shall conclusively be deemed thereafter to be Shares under this
Agreement, each transferee shall be bound by the terms of this Agreement and, following any
such Transfer by Avago Partners, its partners shall be deemed to be Sponsors hereunder.

     3.3 Certain Transferees to Become Parties. Any transferee receiving Shares in a
Transfer pursuant to Section 3.2.1, 3.2.4(b), 3.2.5 (except a Transfer following which the Shares
are deemed not to be Shares hereunder), 3.2.6 or 3.2.7 shall become a Shareholder, party to this Agreement and subject to the terms and
conditions of, and be entitled to enforce, this Agreement to the same extent, and in the same
capacity, as the Person that Transfers such Shares to such transferee; provided that only a
Permitted Transferee of a Sponsor will be deemed to be a Sponsor for purposes of this Agreement
(and shall be deemed to be the same Sponsor as the Sponsor which Transferred to it). For the
avoidance of doubt, (a) any transferee receiving Shares in a Transfer pursuant to Section 3.2.4(b),
3.2.5 (except a Transfer following which the Shares are deemed not to be Shares hereunder), 3.2.6
or 3.2.7 that is not a Permitted Transferee of a Sponsor will become a party to this Agreement
without the benefit of the right to designate board and committee members, or to approve certain
actions of the Company and its Subsidiaries, under Section 2; and (b) any transferee receiving
Shares in a Transfer pursuant to Section 3.2.4(b), 3.2.5 (except a Transfer following which the
Shares are deemed not to be Shares hereunder), 3.2.6 or 3.2.7 that is neither an existing
Shareholder nor a Permitted Transferee of a Sponsor will become party to this Agreement as a
Shareholder without the benefit of the rights of Tag Along Holders (Section 4.1), First Refusal
Holders (Section 4.3), or Participation Offerees (Section 5). Prior to the Transfer of any Shares
to any transferee pursuant to Section 3.2.1, 3.2.4(b), 3.2.5 (except a Transfer following which the
Shares are deemed not to be Shares hereunder), 3.2.6 or 3.2.7, and as a condition thereto, each
Shareholder effecting such Transfer shall (x) cause such transferee to deliver to the Company and
each of the Sponsors its written agreement, in form and substance reasonably satisfactory to the
Company, to be bound by the terms and conditions of this Agreement to the extent described in the
preceding sentence and (y) if such Transfer is to a Permitted Transferee, remain directly liable
for the performance by such Permitted Transferee of all obligations of such transferee under this
Agreement.

     3.4 Restrictions on Public Transfers under Rule 144. After the Initial Public
Offering, and subject to the provisions of Sections 3.2.2 and 3.2.5, if any Shareholders’ sales of
Shares pursuant to Rule 144 would be subject to aggregation (each such Shareholder whose Shares
would be subject to aggregation, a “Related Holder”), then each such Related Holder shall
promptly notify each other Related Holder (a) when it has commenced a measurement period for
purposes of the Rule 144 group volume limit in connection with a Sale that is subject to such limit
and (b) what the volume limit for that measurement period, determined as of its

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commencement, will
be. Subject to Sections 3.2.2 and 3.2.5, each Related Holder shall be entitled to effect Sales
that are subject to the Rule 144 group volume limit pro rata during the applicable measurement
period based on its percentage ownership of Shares held by all such Related Holders at the start of
such measurement period. The provisions of this Section 3.4 shall not apply to any Transfer of
Shares (x) in a Public Offering or (y) not subject to volume limitation under Rule 144.

     3.5 Impermissible Transfer. Subject to applicable law, any attempted Transfer of
Shares not permitted under the terms of this Section 3 shall be null and void, and the Company
shall not in any way give effect to any such impermissible Transfer.

     3.6 Notice of Transfer. To the extent that, prior to the Initial Public Offering, any Shareholder or Permitted
Transferee shall Transfer any Shares, such Shareholder or Permitted Transferee shall, within three
(3) Business Days following consummation of such Transfer, deliver notice thereof to the Company
and each Sponsor.

     3.7 Period. Each of the foregoing provisions of this Section 3 shall expire upon the
earlier of (i) a Change in Control and (ii) Majority Sponsor Approval of the termination in full of
the provisions of this Section 3 after the Initial Public Offering.

4. “TAG ALONG” AND “DRAG ALONG” RIGHTS; RIGHT OF FIRST REFUSAL.

     4.1 Tag Along. If any Prospective Selling Shareholder proposes to Sell any Shares to
any Prospective Buyer(s) other than in a Transfer pursuant to Section 3.2.1, 3.2.2, 3.2.3 or 3.2.7:

     4.1.1. Notice. The Prospective Selling Shareholder shall, prior to any such
proposed Transfer, deliver a written notice (the “Tag Along Notice”) to each
Co-Investor (each such Co-Investor, a “Tag Along Holder”). The Tag Along Notice
shall include:

     (a) the principal terms and conditions of the proposed Sale, including (i) the
number and class of the Shares to be purchased from the Prospective Selling
Shareholder, (ii) the fraction(s) expressed as a percentage, determined by dividing
the number of Shares of each class to be purchased from the Prospective Selling
Shareholder by the total number of Shares of each such class held by the Prospective
Selling Shareholder (for each class, the “Tag Along Sale Percentage”) (it
being understood that the Company shall reasonably cooperate with the Prospective
Selling Shareholder in respect of the determination of each applicable Tag Along
Sale Percentage), (iii) the purchase price or the formula by which such price is to
be determined and the payment terms, including a description of any non-cash
consideration sufficiently detailed to permit valuation thereof, (iv) the name and
address of each Prospective Buyer and (v) if known, the proposed Transfer date; and

     (b) an invitation to each Tag Along Holder to make an offer to include in the
proposed Sale to the applicable Prospective Buyer(s) Shares of the same class(es)
being sold by the Prospective Selling Shareholder held by such Tag Along Holder (not
in any event to exceed the Tag Along Sale Percentage of the total number of Shares
of the applicable class held by such Tag Along Holder), on

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the same terms and
conditions (subject to Section 4.4.3 in the case of Options, Warrants and
Convertible Securities), with respect to each Share Sold, as the Prospective Selling
Shareholder shall Sell each of its Shares. For purposes of this
Section 4.1, but subject to Section 4.4.3, all Options, Warrants and
Convertible Securities will be treated as the same class of Shares for which they
may be exercised.

     4.1.2. Exercise. Within ten (10) Business Days after the date of delivery of
the Tag Along Notice (such date the “Tag Along Deadline”), each Tag Along Holder
desiring to make an offer to include Shares in the proposed Sale (each a “Participating
Seller” and, together with the Prospective Selling Shareholder and any other
shareholders of the Company entitled to participate in the proposed Transfer, collectively,
the “Tag Along Sellers”) shall deliver a written notice (the “Tag Along
Offer”) to the Prospective Selling Shareholder indicating the number of Shares which
such Participating Seller desires to have included in the proposed Sale (subject to the
limitation set forth in Section 4.1.1(b)). Each Tag Along Holder who does not make a Tag
Along Offer in compliance with the above requirements, including the time period, shall be
deemed to have waived all of such Tag Along Holder’s rights to participate in such Sale, and
the Tag Along Sellers shall thereafter be free to Sell to the Prospective Buyer, at a
purchase price no greater than the purchase price set forth in the Tag Along Notice and on
other terms and conditions which are not materially more favorable to the Tag Along Sellers
than those set forth in the Tag Along Notice, without any further obligation to such
non-accepting Tag Along Holder(s) pursuant to this Section 4.1.

     4.1.3. Irrevocable Offer. The offer of each Participating Seller contained in
such Participating Seller’s Tag Along Offer shall be irrevocable, and, to the extent such
offer is accepted, such Participating Seller shall be bound and obligated to Sell in the
proposed Sale on the same terms and conditions, with respect to each Share Sold (subject to
Section 4.4.3 in the case of Options, Warrants and Convertible Securities), as the
Prospective Selling Shareholder, up to such number of Shares as such Participating Seller
shall have specified in such holder’s Tag Along Offer; provided, however,
that if the principal terms of the proposed Sale change with the result that the purchase
price shall be less than the purchase price set forth in the Tag Along Notice or the other
terms and conditions shall be materially less favorable to the Tag Along Sellers than those
set forth in the Tag Along Notice, the Prospective Seller shall provide written notice
thereof to each Participating Seller and each Participating Seller shall be permitted to
withdraw the offer contained in such holder’s Tag Along Offer by written notice to the
Prospective Selling Shareholder within three (3) Business Days after delivery of such
written notice from the Prospective Selling Shareholder and upon such withdrawal shall be
released from such Participating Seller’s obligations thereunder.

     4.1.4. Reduction of Shares Sold. The Prospective Selling Shareholder shall
attempt to obtain the inclusion in the proposed Sale of the entire number of Shares which
each of the Tag Along Sellers requested to have included in the Sale (as evidenced in the
case of the Prospective Selling Shareholder by the Tag Along Notice and in the case of each Participating Seller by
such Participating Seller’s Tag Along Offer). In the event the Prospective Selling
Shareholder shall be unable to obtain the inclusion of such entire

 - 14 - 

 

number of Shares in the
proposed Sale, the number of Shares to be sold in the proposed Sale shall be allocated among
the Tag Along Sellers in proportion, as nearly as practicable, as follows:

     (a) there shall be first allocated to each Tag Along Seller a number of Shares
equal to the lesser of (i) the number of Shares of the applicable class offered (or
proposed, in the case of the Prospective Selling Shareholder) to be included by such
Tag Along Seller in the proposed Sale pursuant to this Section 4.1, and (ii) a
number of Shares equal to such Tag Along Seller’s Pro Rata Portion; and

     (b) the balance, if any, not allocated pursuant to clause (a) above shall be
allocated to the Prospective Selling Shareholder and each other Tag Along Seller
which offered to sell a number of Shares of the applicable class in excess of such
Person’s Pro Rata Portion, pro rata to each Tag Along Seller based upon the amount
of such excess, or in such manner as the Tag Along Sellers may otherwise agree.

     4.1.5. Additional Compliance. If, prior to consummation, the terms of the
proposed Sale shall change with the result that the purchase price to be paid in such
proposed Sale shall be greater than the purchase price set forth in the Tag Along Notice or
the other terms of such proposed Sale shall be materially more favorable to the Tag Along
Sellers than those set forth in the Tag Along Notice, the Tag Along Notice shall be null and
void, and it shall be necessary for a separate Tag Along Notice to be delivered, and the
terms and provisions of this Section 4.1 separately complied with, in order to consummate
such proposed Sale pursuant to this Section 4.1; provided, however, that in
the case of such a separate Tag Along Notice, the applicable period to which reference is
made in Section 4.1.2 shall be three (3) Business Days. In addition, if the Prospective
Selling Shareholders have not completed the proposed Sale by the end of the 180th day after
the date of delivery of the Tag Along Notice, each Participating Seller shall be released
from such Participating Seller’s obligations under such Participating Seller’s Tag Along
Offer, the Tag Along Notice shall be null and void, and it shall be necessary for a separate
Tag Along Notice to be delivered, and the terms and provisions of this Section 4.1
separately complied with, in order to consummate such proposed Sale pursuant to this Section
4.1, unless the failure to complete such proposed Sale resulted from any failure by any
Participating Seller to comply with the terms of this Section 4.1.

     4.1.6. Actions with Respect to Tag Along. In connection with a proposed Sale
to which Section 4.1 applies, each Prospective Selling Shareholder agrees that it shall not
enter into any agreement or take any action, the principal purpose of which is to discourage
or prevent a particular Tag
Along Holder from exercising such Tag Along Holder’s Tag Along rights pursuant to this
Section 4.1.

     4.2 Drag Along. With respect to a Change in Control which receives Majority Sponsor
Approval under Section 2.5, each Shareholder hereby agrees, if requested by the Majority Sponsors,
to Sell the same percentage (the “Drag Along Sale Percentage”) of the total number of each
class of such Shares held by the Prospective Selling Shareholders that is

 - 15 - 

 

proposed to be sold by
the Prospective Selling Shareholders to a Prospective Buyer in such Change in Control (in one
transaction or a series of related transactions), in the manner and on the terms set forth in this
Section 4.2. For purposes of this Section 4.2, but subject to Section 4.4.3, all Options, Warrants
and Convertible Securities will be treated as the same class of Shares for which they may be
exercised. All Shares to be sold to the Prospective Buyer shall be included in determining whether
or not a proposed transaction constitutes a Change in Control.

     4.2.1. Exercise. If the Prospective Selling Shareholders wish to exercise the
drag-along rights contained in this Section 4.2, then the Prospective Selling Shareholders
shall deliver a written notice (the “Drag Along Notice”) to each other Shareholder
at least ten (10) Business Days prior to the consummation of the Change in Control
transaction. The Drag Along Notice shall set forth the principal terms and conditions of
the proposed Sale, including (a) the number and class of Shares to be acquired from the
Prospective Selling Shareholders, (b) the Drag Along Sale Percentage for each class, (c) the
consideration to be received in the proposed Sale for each class, (d) the name and address
of the Prospective Buyer and (e) if known, the proposed Transfer date. If the Prospective
Selling Shareholders consummate the proposed Sale to which reference is made in the Drag
Along Notice, each other Shareholder (each, a “Participating Seller,” and, together
with the Prospective Selling Shareholders, collectively, the “Drag Along Sellers”)
shall: (i) be bound and obligated to Sell the Drag Along Sale Percentage of such Drag Along
Seller’s Shares of each class in the proposed Sale on the same terms and conditions, with
respect to each Share Sold (subject to Section 4.2.2 and, in the case of Options, Warrants
and Convertible Securities, Section 4.4.3) as the Prospective Selling Shareholders shall
Sell each Share in the Sale (subject to Section 4.4.3 in the case of Options, Warrants and
Convertible Securities); and (ii) except as provided in Section 4.4.3, shall receive the
same form and amount of consideration per Share to be received by the Prospective Selling
Shareholders for the corresponding class of Shares (on an as converted basis, in the case of
Convertible Securities). If any holders of Shares of any class are given an option as to
the form and amount of consideration to be received, all holders of Shares of such class
will be given the same option. Unless otherwise agreed by each Drag Along Seller, any
non-cash consideration shall be allocated among the Drag Along Sellers pro rata based upon
the aggregate amount of consideration to be received by such Drag Along Sellers. If at the
end of the 180th day after the date of delivery of the Drag Along Notice the Prospective
Selling Shareholders have not completed the proposed Sale, the Drag Along Notice shall be
null and void, each Participating Seller shall be released from such holder’s obligation
under the Drag Along Notice and it shall be necessary for a
separate Drag Along Notice to be delivered and the terms and provisions of this Section
4.2 separately complied with, in order to consummate such proposed Sale pursuant to this
Section 4.2.

     4.2.2. Drag Along Seller Exclusions. Notwithstanding Section 4.2.1 but subject
to Section 4.4.1, the requirement that Drag Along Sellers Sell on the same terms and
conditions as the Prospective Selling Shareholders shall not apply to any provisions
providing for bona fide advisory fees paid for actual services rendered for any Sponsor or
requiring any Sponsor to agree to a non-compete.

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     4.3 Right of First Refusal. If any Prospective Selling Shareholder proposes to Sell
any Shares, other than to a Permitted Transferee, before the closing of an Initial Public Offering
in a Transfer (including to another Shareholder or the Company or any of its Subsidiaries) that is
made pursuant to Section 3.2.5 or 3.2.6:

     4.3.1. Notice. The Prospective Selling Shareholder shall deliver a written
notice of such proposed Sale (a “Sale Notice”) to the Company and to each Majority
Sponsor that holds Shares (each Majority Sponsor, a “First Refusal Holder”) not less
than thirty (30) days prior to any such proposed Transfer. The Sale Notice shall include:

     (a) (i) the number and class(es) of Shares proposed to be sold by the
Prospective Selling Shareholder (the “Subject Shares”), and whether or not
the Prospective Buyer(s) is(are) willing to purchase less than all of the Subject
Shares, (ii) the purchase price or the formula by which such price is to be
determined, (iii) the identity of the Prospective Buyer(s), (iv) the proposed
Transfer date, if known, (v) a statement signed by an authorized officer of the
Prospective Selling Shareholder that the Prospective Selling Shareholder has
received a firm offer from the Prospective Buyer(s) and in good faith believes a
binding agreement for Transfer is obtainable on the terms set forth, (vi) a brief
description of any other material terms of the proposed Transfer and (vii) a copy of
any written proposal or letter of intent or other agreement relating to the proposed
Transfer;

     (b) an invitation to the Company to make an offer to purchase any or all of the
Subject Shares at such price in cash; and

     (c) an invitation to each First Refusal Holder to make an offer to purchase
(subject to Section 4.3.6 below) any number of the Subject Shares not purchased by
the Company pursuant to clause (b) above at such price in cash.

     4.3.2. Exercise.

     (a) Within twenty (20) days after the date of delivery of the Sale Notice (the
“Company First Refusal Deadline”), the Company may make an offer to purchase
any number of the Subject Shares at the price set forth in the Sale Notice by
delivering to the Prospective Selling Shareholder a written notice (the “Company
First Refusal Notice”) of such offer specifying a number of Subject Shares
offered to be purchased from the Prospective Selling Shareholder. The Company shall
deliver a copy of the Company First Refusal Notice to each First Refusal Holder at
the time it delivers the Company First Refusal Notice to the Prospective Selling
Shareholder. On the second (2nd) Business Day following the Company
First Refusal Deadline, if by such date the Company has not delivered a Company
First Refusal Notice to the Prospective Selling Shareholder indicating that the
Company has agreed to purchase all of the Subject Shares at the price set forth in
the Sale Notice, the Prospective Selling Shareholder shall deliver a written notice
to each First Refusal Holder indicating that the Company has not offered to purchase
any of the Subject Shares.

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     (b) Within thirty (30) days after the date of delivery of the Sale Notice (the
“First Refusal Deadline”), each First Refusal Holder may make an offer to
purchase any number of the Subject Shares at the price set forth in the Sale Notice
by delivering a written notice (the “First Refusal Notice”) of such offer
specifying a number of Subject Shares offered to be purchased from the Prospective
Selling Shareholder (each such Person delivering such notice, a “First Refusal
Purchaser”).

     (c) The receipt of consideration by any Prospective Selling Shareholder selling
Shares as payment for the Transfer of such Shares pursuant to this Section 4.3.2
shall be deemed a representation and warranty by such Prospective Selling
Shareholder that: (i) such Prospective Selling Shareholder has full right, title
and interest in and to such Shares; (ii) such Prospective Selling Shareholder has
all necessary power and authority and has taken all necessary action to sell such
Shares as contemplated by this Section 4.3.2; and (iii) such Shares are free and
clear of any and all liens or encumbrances other than any arising as a result of the
terms of this Agreement.

     (d) Each Person not delivering a Company First Refusal Notice or First Refusal
Notice that complies with the above requirements, including the applicable time
periods, shall be deemed to have waived all of such Person’s rights to purchase such
Shares under this Section 4.3.2, and the Prospective Selling Shareholder shall
thereafter be free to Sell the Subject Shares to the Company, First Refusal
Purchasers and/or any Prospective Buyer, at a purchase price no less than the price
set forth in the Sale Notice, without any further obligation to such Person pursuant
to this Section 4.3.

     4.3.3. Irrevocable Offer. The offer of the Company and each First Refusal
Purchaser contained in a Company First Refusal Notice or First Refusal Notice, as the case
may be, shall be irrevocable, and, subject to Section 4.3.6 below, to the extent such offer
is accepted, the Company or such First Refusal Purchaser shall be bound and obligated to
purchase the number of Subject Shares set forth in the Company First Refusal Notice or such
First Refusal Purchaser’s First Refusal Notice, as the case may be.

     4.3.4. Acceptance of Offers. Within five (5) Business Days after the First
Refusal Deadline, the Prospective Selling Shareholder shall inform the Company and each
First Refusal Purchaser, by delivery of a written notice (the “Acceptance Notice”),
of whether or not the Prospective Selling Shareholder will accept all (but not less than
all, subject to Section 4.3.6(b)) offers of the Company and the First Refusal Purchasers;
provided that in the event that the aggregate number of Subject Shares offered to be
purchased by the Company and the First Refusal Purchasers is equal to or exceeds the
aggregate number of Subject Shares, the Prospective Selling Shareholder shall be obligated
to accept all the offers of the Company and the First Refusal Purchasers (subject to Section
4.3.6(b)) and the Prospective Selling Shareholder, the Company and the First Refusal
Purchasers, as applicable, shall be obligated to negotiate, execute and deliver as promptly
as practicable after delivery of the Acceptance Notice definitive documentation consistent
with the terms described in the Sale Notice that is reasonably acceptable to each such
party. In the event the Prospective Selling Shareholder fails to

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deliver the Acceptance
Notice within the specified time period when the aggregate number of Shares offered to be
purchased by the Company and the First Refusal Purchasers is less than the number of Subject
Shares, the Prospective Selling Shareholder shall be deemed to have decided not to Sell the
Subject Shares to the Company and the First Refusal Purchasers. If the Prospective Selling
Shareholder decides not to Sell the Subject Shares to the Company and the First Refusal
Purchasers when the number of Shares offered to be purchased by the Company and the First
Refusal Purchasers is less than the number of Subject Shares, the Company and each First
Refusal Purchaser shall be released from the Company’s and such holder’s obligations under
the Company’s or such First Refusal Purchaser’s, as the case may be, irrevocable offer.

     4.3.5. Additional Compliance. If at the end of the 180th day after the date of
delivery of the Sale Notice, the Prospective Selling Shareholder and the Company, First
Refusal Purchasers or Prospective Buyer (if not a First Refusal Purchaser), if any, have not
completed the Sale of the Subject Shares (other than due to the failure of the Company or
any First Refusal Purchaser to perform its obligations under this Section 4.3), the Company
and each First Refusal Purchaser shall be released from the Company’s or such First Refusal
Purchaser’s obligations under the Company’s or such First Refusal Purchaser’s, as the case
may be, irrevocable offer, the Sale Notice shall be null and void, and it shall be necessary
for a separate Sale Notice to be delivered, and the terms and provisions of this
Section 4.3 separately complied with, in order to consummate a Transfer of such Subject
Shares; provided, however, that in the case of such a separate Sale Notice
in which the classes of Subject Shares and the purchase price are unchanged and the number
of Subject Shares is substantially the same, the applicable period to which reference is
made in Section 4.3.1 and 4.3.2(b) shall be ten (10) Business Days and the applicable period
to which reference is made in Section 4.3.2(a) shall be five (5) Business Days, and the time
to complete such Sale referenced in the first sentence of this Section 4.3.5 shall be 90
days instead of 180 days.

     4.3.6. Determination of the Number of Subject Shares to be Sold.

     (a) In the event that the aggregate number of Shares offered to be purchased by
the Company and the First Refusal Purchasers is less than the number of Subject
Shares, (i) the Prospective Selling Shareholder may accept the offers of the Company
and the First Refusal Purchasers and, at the option of the Prospective Selling
Shareholder, sell any remaining Subject Shares which the Company and the First
Refusal Purchasers did not elect to purchase to one or more Prospective Buyers (at a
purchase price that is no less than the price set forth in the Sale Notice) or (ii)
if a single Prospective Buyer or group of Prospective Buyers is unwilling to
purchase less than all of the Subject Shares, the Prospective Selling Shareholder
may Sell all (but not less than all) of the Subject Shares to such Prospective Buyer
or group of Prospective Buyers at a purchase price that is no less than the purchase
price set forth in the Sale Notice rather than Sell the Subject Shares to the
Company and the First Refusal Purchasers. Such sales, if any, to Prospective
Buyer(s) other than the Company and the First Refusal Purchasers in accordance with
this clause (a) shall be consummated together with the sale to the Company and the
First Refusal Purchasers.

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     (b) In the event that the aggregate number of Subject Shares offered to be
purchased by the Company and the First Refusal Purchasers is equal to or exceeds the
aggregate number of Subject Shares, the Subject Shares shall be sold to the Company
and the First Refusal Purchasers as follows:

     (i) there shall be first allocated to the Company a number of Shares of
each applicable class equal to the lesser of (A) the number of Shares of
such class offered to be purchased by the Company in the Company First
Refusal Notice and (B) the number of Subject Shares of such class;

     (ii) from the balance, if any, not allocated pursuant to clause (i)
above there shall be allocated to each First Refusal Purchaser a number of
Shares of each applicable class equal to the lesser of (A) the number of
Shares of such class offered to be purchased by such First Refusal Purchaser
pursuant such holder’s First Refusal Notice, and (B) a number
of Shares of such class equal to such First Refusal Purchaser’s Pro
Rata Portion; and

     (iii) the balance, if any, not allocated pursuant to clause (ii) above
shall be allocated to those First Refusal Purchasers which offered to
purchase a number of Shares of the applicable class in excess of such
Person’s Pro Rata Portion pro rata to each such First Refusal Purchaser
based upon the amount of such excess, or in such other manner as the First
Refusal Purchasers may otherwise agree.

     4.3.7. Actions with respect to Rights of First Refusal. In connection with a
proposed Sale to which Section 4.3 applies, each Prospective Selling Shareholder agrees that
it shall not enter into any agreement or take any action, the principal purpose of which is
to discourage or prevent a particular Person from exercising their Rights of First Refusal
pursuant to this Section 4.3.

     4.3.8. Company Assignment of Rights. In connection with a proposed Sale to
which Section 4.3 applies, the Company may at any time at its option assign its rights under
this Section 4.3 and substitute any Subsidiary or Person for itself to act as the purchaser
or to exercise any other right of the Company, or to satisfy any obligation of the Company,
under this Section 4.3.

     4.4 Miscellaneous. The following provisions shall be applied to any proposed Sale to
which Section 4.1, 4.2 or 4.3 applies:

     4.4.1. Further Assurances. The Company and each Participating Seller and First
Refusal Purchaser shall take or cause to be taken all such actions as may be reasonably
necessary or reasonably desirable in order to expeditiously consummate each Sale pursuant to
Section 4.1, Section 4.2 or Section 4.3 and any related transactions, including executing,
acknowledging and delivering consents, assignments, waivers and other documents or
instruments; furnishing information and copies of documents; filing

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applications, reports,
returns, filings and other documents or instruments with governmental authorities; and
otherwise cooperating with the Prospective Selling Shareholder(s) and the Prospective Buyer;
provided, however, that Participating Sellers shall be obligated to become
liable in respect of any representations, warranties, covenants, indemnities or otherwise to
the Prospective Buyer solely to the extent provided in the immediately following sentence.
Without limiting the generality of the foregoing, each Participating Seller agrees to
execute and deliver such agreements as may be reasonably specified by the Prospective
Selling Shareholder(s) to which such Prospective Selling Shareholder(s) will also be party,
including agreements to (a)(i) make individual representations, warranties, covenants and
other agreements as to the unencumbered title to its Shares and the power, authority and
legal right to Transfer such Shares, the absence of any Adverse Claim with
respect to such Shares and the non-contravention of other agreements and (ii) be liable
as to such representations, warranties, covenants and other agreements, in each case to the
same extent (but with respect to its own Shares) as the Prospective Selling Shareholder(s),
and (b) in the case of a Sale pursuant to Sections 4.1 or 4.2, be liable (whether by
purchase price adjustment, indemnity payments or otherwise) in respect of representations,
warranties, covenants and agreements in respect of the Company and its subsidiaries;
provided, however, that the aggregate amount of liability described in this
clause (b) in connection with any Sale of Shares shall not exceed the lesser of (i) such
Participating Seller’s pro rata portion of any such liability, to be determined in
accordance with such Participating Seller’s portion of the aggregate proceeds to all
Participating Sellers and Prospective Selling Shareholder(s) in connection with such Sale
and (ii) the proceeds to such Participating Seller in connection with such Sale.

     4.4.2. Sale Process. The Majority Sponsors, in the case of a proposed Sale
pursuant to Section 4.2, or the Prospective Selling Shareholder, in the case of a proposed
Sale pursuant to Section 4.1 or 4.3 (but, in the case of Section 4.3, only when the
aggregate number of Shares offered to be purchased by the Company and the First Refusal
Purchasers is less than the number of Subject Shares) shall, in its sole discretion, decide
whether or not to pursue, consummate, postpone or abandon any proposed Sale and the terms
and conditions thereof. No Shareholder nor any Affiliate thereof shall have any liability
to any other Shareholder or the Company arising from, relating to or in connection with the
pursuit, consummation, postponement, abandonment or terms and conditions of any proposed
Sale except to the extent such holder shall have failed to comply with the provisions of
this Section 4 and such failure shall have prevented the Company or such other Shareholder
from exercising its rights pursuant to Section 4.1, 4.2 or 4.3, as applicable.

     4.4.3. Treatment of Options, Warrants and Convertible Securities. If any
Participating Seller shall Sell any Options, Warrants or Convertible Securities that are
exercisable, convertible or exchangeable in any Sale pursuant to Section 4, such
Participating Seller shall receive in exchange for such Options, Warrants or Convertible
Securities consideration in the amount (if greater than zero) equal to the purchase price
received by the Prospective Selling Shareholder(s) in such Sale for the number of
Outstanding Company Shares that would be issued upon exercise, conversion or exchange of
such Options, Warrants or Convertible Securities less the exercise price, if

 - 21 - 

 

any, of such
Options, Warrants or Convertible Securities (or, with respect to Convertible Securities, if
greater, the amount of the liquidation preference, if any, such securities would be entitled
to in connection with such Sale in lieu of converting), in each case, subject to reduction
for any tax or other amounts required to be withheld under applicable law.

     4.4.4. Closing. The closing of a Sale to which Section 4.1, 4.2 or 4.3 applies shall take place (i)
on the proposed Transfer date, if any, specified in the Tag Along Notice, Drag Along Notice
or Sale Notice, as applicable (provided that consummation of any Transfer may be
extended beyond such date to the extent necessary to obtain any applicable governmental
approval or other required approval or to satisfy other conditions), (ii) if no proposed
Transfer date was required to be specified in the Drag Along Notice or Sale Notice, at such
time as the Prospective Selling Shareholders shall specify by notice to each Participating
Seller, the Company or First Refusal Purchaser, as the case may be, and (iii) at such place
as the Prospective Selling Shareholder(s) shall specify by notice to each Participating
Seller in the case of a Sale to which Section 4.1 or Section 4.2 applies. At the closing of
such Sale, each Participating Seller or Prospective Selling Shareholder (with respect to a
Sale under Section 4.3) shall deliver the certificates evidencing the Shares to be Sold by
such Participating Seller, duly endorsed, or with stock (or equivalent) powers duly
endorsed, for transfer with signature guaranteed, free and clear of any liens or
encumbrances (other than any arising as a result of the terms of this Agreement), with any
stock (or equivalent) transfer tax stamps affixed, against delivery of the applicable
consideration.

     4.5 Period. The provisions of Section 4.3 shall expire as to any Share upon the
earlier of (a) a Change in Control that has been approved by Majority Sponsor Approval and (b) the
Initial Public Offering. The provisions of Sections 3.2, 4.1 and 4.2 may be collectively
terminated in their entirety at any time following the Initial Public Offering with Majority
Sponsor Approval. All of the provisions of this Section 4 above shall expire upon a Change in
Control that has been approved by Majority Sponsor Approval.

5. PARTICIPATION RIGHTS. The Company shall not, and shall not permit any Subsidiary of the Company
(the Company and each such Subsidiary, an “Issuer”) to, issue or sell any shares of any of
its capital stock or equity securities or any securities convertible into or exchangeable for any
shares of its capital stock or equity securities, issue or grant any options or warrants for the
purchase of, or enter into any agreements providing for the issuance (contingent or otherwise) of,
any of its capital stock or equity securities or any stock or securities convertible into or
exchangeable for any shares of its capital stock or equity securities, in each case, to any Person
(each an “Issuance” of “Subject Securities”), except in compliance with the
provisions of this Section 5. Notwithstanding the foregoing, the provisions of this Section 5
shall not apply to Issuances described below in Section 5.3.

     5.1 Right of Participation.

     5.1.1. Offer . Not fewer than fifteen (15) Business Days prior to the consummation of an Issuance,
a notice (the “Participation Notice”) shall be delivered by the

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Issuer to each
Sponsor (the “Participation Offerees”). The Participation Notice shall include:

     (a) the principal terms and conditions of the proposed Issuance, including (i)
the amount, kind and terms of the Subject Securities to be included in the Issuance,
(ii) the percentage of the total number of Shares outstanding as of immediately
prior to giving effect to such Issuance which the number of Shares held by such
Participation Offeree equals immediately prior to such issuance constitutes (the
“Participation Portion”), (iii) the price (including if applicable, the
Price Per Equivalent Share) per unit of the Subject Securities, including a
description of any non-cash consideration sufficiently detailed to permit valuation
thereof, (iv) the proposed manner through which the Company shall effectuate the
Issuance, (v) if known, the name and address of the Person to whom the Subject
Securities are expected to be issued (the “Prospective Subscriber”) and (vi)
if known, the proposed Issuance date; and

     (b) an offer by the Issuer to issue, at the option of each Participation
Offeree, to such Participation Offeree such portion of the Subject Securities to be
included in the Issuance as may be requested by such Participation Offeree (not to
exceed the Participation Portion of the total amount of Subject Securities to be
included in the Issuance), on the same terms and conditions (except that, if
non-cash consideration is to be delivered, a Participating Buyer would pay the cash
equivalent thereof (as reasonably determined by the Board)), with respect to each
unit of Subject Securities issued to the Participation Offerees, as each of the
Prospective Subscribers shall be issued units of Subject Securities.

     5.1.2. Exercise.

     (a) General. Each Participation Offeree desiring to accept the offer
contained in the Participation Notice shall accept such offer by delivering a
written notice of such acceptance to the Issuer within ten (10) Business Days after
the date of delivery of the Participation Notice specifying the amount of Subject
Securities (not in any event to exceed the Participation Portion of the total amount
of Subject Securities to be included in the Issuance) which such Participation
Offeree desires to be issued (each a “Participating Buyer”). Each
Participation Offeree who does not accept such offer in compliance with the above
requirements, including the applicable time period, shall be deemed to have waived
all of such Participation Offeree’s rights to participate in such Issuance, and the
Issuer shall thereafter be free to issue Subject Securities in such Issuance to the
Prospective Subscriber and any Participating Buyers, at a price no less than the
minimum price set forth in the Participation Notice and on other terms not
materially more favorable to the Prospective Subscriber than those set forth in the
Participation Notice, without any further obligation to such non-accepting
Participation Offerees pursuant to Section 5. If, prior to consummation, the terms
of such proposed Issuance shall change with the result that the price shall be
less than the minimum price set forth in the Participation Notice or the other terms
shall be materially more favorable to the Prospective Subscriber than those set

 - 23 - 

 

forth in the Participation Notice, it shall be necessary for a separate
Participation Notice to be delivered, and the terms and provisions of this Section
5.1 separately complied with, in order to consummate such Issuance pursuant to this
Section 5.1; provided, however, that in such case of a separate
Participation Notice, the applicable period to which reference is made in Section
5.1.1 and in the first sentence of Section 5.1.2(a) shall be three (3) Business Days
and two (2) Business Days, respectively.

     (b) Irrevocable Acceptance. The acceptance of each Participating Buyer
shall be irrevocable except as hereinafter provided, and each such Participating
Buyer shall be bound and obligated to acquire in the Issuance on the same terms and
conditions, with respect to each unit of Subject Securities issued, as the
Prospective Subscriber, such amount of Subject Securities as such Participating
Buyer shall have specified in such Participating Buyer’s written commitment.

     (c) Time Limitation. If at the end of the 180th day after the date of
the effectiveness of the Participation Notice the Issuer has not completed the
Issuance, each Participating Buyer shall be released from such Participating Buyer’s
obligations under the written commitment, the Participation Notice shall be null and
void, and it shall be necessary for a separate Participation Notice to be delivered,
and the terms and provisions of this Section 5.1 separately complied with, in order
to consummate such Issuance pursuant to this Section 5.1; provided,
however, that in such case of a separate Participation Notice on
substantially the same terms and conditions, the applicable period to which
reference is made in Section 5.1.1 and in the first sentence of Section 5.1.2(a)
shall be three (3) Business Days and two (2) Business Days, respectively, and the
time to complete such Issuance referenced in the first sentence of this Section
5.1.2(c) shall be 90 days instead of 180.

     5.1.3. Other Securities. The Issuer may condition the participation of the
Participation Offerees in an Issuance upon the purchase by such Participation Offerees of
any securities (including debt securities) other than Subject Securities (“Other
Securities”) in the event that the participation of the Prospective Subscriber in such
Issuance is so conditioned. In such case, each Participating Buyer shall acquire in the
Issuance, together with the Subject Securities to be acquired by it, Other Securities in the
same proportion to the Subject Securities to be acquired by it as the proportion of Other
Securities to Subject Securities being acquired by the Prospective Subscriber in the
Issuance, on the same terms and conditions, as to each unit of Subject Securities and Other
Securities issued to the Participating Buyers, as the Prospective Subscriber shall be issued
units of Subject Securities and Other Securities.

     5.1.4. Certain Legal Requirements. In the event that the participation in the
Issuance by a Participation Offeree as a Participating Buyer would require under applicable
law (i) the registration or qualification of such securities or of any Person as a broker or
dealer or agent with respect to such securities where such registration or qualification
is
not otherwise required for the Issuance, which registration or qualification

 - 24 - 

 

would impose a
material burden on the Company, (ii) the provision to any participant in the Sale of
material and substantial information regarding the Company or any of its subsidiaries or the
securities that is not otherwise required to be provided for the Issuance or (iii) the
Company to comply with other requirements under foreign law that it is not otherwise
required to comply with and that impose a material burden on the Company, such Participation
Offeree shall not have the right to participate in the Issuance. Without limiting the
generality of the foregoing, it is understood and agreed that neither the Company nor the
Issuer shall be under any obligation to effect a registration of such securities under the
Securities Act or similar state statutes or foreign law.

     5.1.5. Further Assurances. Each Participating Buyer shall take or cause to be
taken all such reasonable actions as may be reasonably necessary or reasonably desirable in
order to expeditiously consummate each Issuance pursuant to this Section 5.1 and any related
transactions, including executing, acknowledging and delivering consents, assignments,
waivers and other documents or instruments; filing applications, reports, returns, filings
and other documents or instruments with governmental authorities; and otherwise cooperating
with the Issuer and the Prospective Subscriber. Without limiting the generality of the
foregoing, each such Participating Buyer agrees to execute and deliver such subscription and
other agreements (on customary and reasonable terms) specified by the Issuer to which the
Prospective Subscriber will be party.

     5.1.6. Closing. The closing of an Issuance pursuant to Section 5.1 shall take
place (i) on the proposed date of Issuance, if any, set forth in the Participation Notice
(provided that consummation of any Transfer may be extended beyond such date to the extent
necessary to obtain any applicable governmental approval or other required approval or to
satisfy other conditions), (ii) if no proposed Transfer date was required to be specified in
the Participation Notice, at such time as the Issuer shall specify by notice to each
Participating Buyer, provided that such closing with respect to a Participating
Buyer shall not (without the consent of such Participating Buyer) be prior to the date that
is fifteen (15) Business Days after the Company issues the applicable Participation Notice
and (iii) at such place as the Issuer shall specify by notice to each Participating Buyer.
At the closing of any Issuance under this Section 5.1.6, each Participating Buyer shall be
delivered the notes, certificates or other instruments evidencing the Subject Securities
(and, if applicable, Other Securities) to be issued to such Participating Buyer, registered
in the name of such Participating Buyer or such holder’s designated nominee, free and clear
of any liens or encumbrances (except such as made under this Agreement), with any
transfer tax stamps affixed, against delivery by such Participating Buyer of the
applicable consideration.

     5.2 Post-Issuance Notice. Notwithstanding the requirements of Section 5.1, the Issuer
may proceed with any Issuance prior to having complied with the provisions of Section 5.1;
provided that the Issuer shall:

     (a) provide to each Sponsor who would have been a Participation Offeree in
connection with such Issuance (i) with prompt notice of such Issuance and (ii) the
Participation Notice described in Section 5.1.1 in which the actual price

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per unit
of Subject Securities (and, if applicable, actual Price Per Equivalent Share) shall
be set forth;

     (b) offer to issue to such Sponsor such number of securities of the type issued
in the Issuance as may be requested by such Sponsor (not to exceed the Participation
Portion that such Sponsor would have been entitled to pursuant to Section 5.1
multiplied by the sum of (a) the number of Subject Securities included in the
Issuance and (b) the aggregate number of shares issued pursuant to this Section 5.2
with respect to such Issuance) on the same economic terms and conditions with
respect to such securities as the subscribers in the Issuance received; and

     (c) keep such offer open for a period of fifteen (15) Business Days, during
which period, each such Sponsor may accept such offer by sending a written
acceptance to the Issuer committing to purchase an amount of such securities (not in
any event to exceed the Participation Portion that such Sponsor would have been
entitled to pursuant to Section 5.1 multiplied by the sum of (a) the number of
Subject Securities included in such issuance and (b) the aggregate number of shares
issued pursuant to this Section 5.2 with respect to such Issuance).

     5.3 Excluded Transactions. The provisions of this Section 5 shall not apply to
Issuances by the Company or any Subsidiary as follows:

     (a) Any Issuance of Subject Securities upon exercise of the Capstone Option, or
upon the conversion or exercise or exchange of any other options, warrants, or other
securities convertible into, or exercisable or exchangeable for, equity securities,
that are outstanding on the date hereof or Issued after the date hereof in
compliance with the provisions of this Section 5;

     (b) Any Issuance of Subject Securities pursuant to the Management Equity Plan
or any other employee benefit or incentive plan that has been approved by Majority
Sponsor Approval;

     (c) Any Issuance of Subject Securities in connection with any business
combination or acquisition transaction involving the Company or any Subsidiary or in
connection with any joint venture or strategic partnership, in each case which has
received Majority Sponsor Approval;

     (d) Any Issuance of Shares pursuant to an Initial Public Offering;

     (e) Any Issuance of Shares to the Sponsors (other than SLP, KKR or Avago
Partners) in connection with the closing of the Acquisition;

     (f) Any Issuance of Subject Securities in connection with any stock split,
stock dividend or other recapitalization;

     (g) Any Issuance of Subject Securities as a bona-fide “equity kicker” to a
lender in connection with a debt financing;

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     (h) Any Issuance of Subject Securities by a Subsidiary to the Company or any
other Subsidiary;

     (i) The Issuance of the Capstone Option and the Issuance of Company Shares
pursuant to the Luxco Securities Subscription Agreement;

     (j) The Issuance of Shares listed on Schedule I attached hereto; or

     (k) Any Issuance of Subject Securities as to which the Issuer has received
Majority Sponsor Approval for the waiver of the provisions of this Section 5 as to
all Sponsors (including the Majority Sponsors).

     5.4 Acquired Shares. Any Subject Securities constituting Company Shares or Company
Preferred acquired by any Sponsor pursuant to this Section 5 shall be deemed for all purposes
hereof to be Shares hereunder.

     5.5 Period. Each of the foregoing provisions of this Section 5 shall expire on the
earlier of (a) a Change in Control that has been approved by Majority Sponsor Approval or (b) the
closing of the Initial Public Offering.

     5.6 Actions with respect to Participation Rights. In connection with each Issuance to
which Section 5 applies, the Company agrees that it shall not enter into any agreement or take any
action, the principal purpose of which is to discourage or prevent a particular Participation
Offeree from exercising their participating rights pursuant to this Section 5.

6. COVENANTS.

     6.1 Information Rights.

     6.1.1. Historical Financial Information. The Company will furnish to each
Sponsor that owns at least 2.5% of the Outstanding Company Shares the following information:

     6.1.1.1 As soon as available, and in any event within 120 days after the end of
each fiscal year of the Company, the audited consolidated balance sheet of the
Company and its Subsidiaries as at the end of such fiscal year and the related
audited consolidated statements of income, cash flows and changes in shareholders’
equity for such fiscal year, setting forth in each case in comparative form the
figures for the next preceding fiscal year, accompanied by the report of independent
certified public accountants of recognized national standing, to the effect that,
except as set forth therein, such consolidated financial statements have been
prepared in accordance with United States generally accepted accounting principles
(“GAAP”) applied on a basis consistent with prior years and fairly present
in all material respects the financial condition of the Company and its Subsidiaries
as of the dates thereof and the results of their operations and changes in their
cash flows and shareholders’ equity for the periods covered thereby.

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     6.1.1.2 As soon as available, and in any event within 60 days after the end of
each fiscal quarter (other than the fourth fiscal quarter) of the Company, the
consolidated balance sheet of the Company and its Subsidiaries as at the end of such
fiscal quarter and the related consolidated statements of income and cash flows for
such quarter and the portion of the fiscal year then ended, setting forth in each
case the figures for the corresponding periods of the previous fiscal year in
comparative form, all in reasonable detail and all prepared in accordance with GAAP
consistently applied.

     6.1.1.3 As soon as available, and in any event within 30 days after the end of
each month (other than the last month of a fiscal quarter), the consolidated balance
sheet of the Company and its Subsidiaries as at the end of such month and the
related consolidated statements of income and cash flows for such month and the
portion of the fiscal year then ended (to the extent prepared by the Company),
setting forth in each case the figures for the corresponding periods of the previous
fiscal year in comparative form, all in reasonable detail.

     6.1.2. Tax Information Within 90 days after the end of each fiscal year to the
extent reasonably practicable, and in any event within 120 days after the end of each fiscal
year, the Company shall cause to be delivered to any Person who was a Shareholder during such
prior fiscal year all information necessary for the preparation of such Person’s income tax
returns (whether federal, state or foreign).

     6.1.3. Access. So long as any Sponsor owns at least 5% of the Outstanding
Company Shares, such Sponsor shall have the right to (a) inspect, during normal business
hours upon reasonable advance notice to the Company and its Subsidiaries, as applicable, and
without unreasonably interfering with the Company’s and the Subsidiaries’, as applicable,
normal business operations, such of the Company’s and its Subsidiaries’ facilities, records,
files and other information as it may reasonably request and (b) meet with the Company’s and
its Subsidiaries’ officers, other management personnel and outside accountants to obtain
such information regarding the Company and its Subsidiaries and their respective businesses
and prospects as it may reasonably request.

     6.1.4. Period. The provisions of Sections 6.1.1.1 and 6.1.1.2 shall expire on
the earlier of (a) a Change in Control following which the Majority Sponsors are no longer
entitled to receive the benefits of such Section and (b) the Initial Public Offering. The
other provisions of this Section 6.1 shall expire on a Change in Control.

     6.2 Confidentiality. Each Shareholder agrees that it will keep confidential and will
not disclose, divulge or use for any purpose, other than in connection with its investment in the
Company and its Subsidiaries, any confidential information obtained from the Company pursuant to
the terms of this Agreement, unless such confidential information (i) is known or becomes known to
the public in general (other than as a result of a breach of this Section 6.2 by such Shareholder
or its Affiliates), (ii) is or has been independently developed or conceived by such Shareholder
without use of the Company’s or any Subsidiary’s confidential information or (iii) is or has been
made known or disclosed to such Shareholder by a third party (other than an Affiliate or agent of
such Shareholder) without a breach of any obligation of confidentiality such

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third party may have to the Company or any Subsidiary that is known to such Shareholder; provided, however, that
a Shareholder may disclose confidential information (a) to its attorneys, accountants, consultants,
and other professionals to the extent necessary to obtain their services in connection with its
investment in the Company or for evaluating and preparing disclosure pursuant to clause (d) below,
(b) to any prospective purchaser of any Shares from such Shareholder as long as such prospective
purchaser agrees to be bound by the provisions of this Section 6.2, (c) to any Affiliate, partner
or member of such Shareholder in the ordinary course of business, (d) to the extent necessary for a
Shareholder to enforce its rights under this Agreement, the other agreements entered into in
connection herewith and under the Company Memorandum of Association and Company Articles of
Association or (e) as may otherwise be required by law (including reporting under Securities laws
and governmental filings); provided that such Shareholder takes reasonable steps to
minimize the extent of any such required disclosure, including using best efforts to obtain a
protective order in any legal proceeding, and provide the
Company with written notice describing the disclosure that was or is to be made;
provided, further, that the acts and omissions of any Person to whom such
Shareholder may disclose confidential information pursuant to clauses (a) and (c) of the preceding
proviso shall be attributable to such Shareholder for purposes of determining such Shareholder’s
compliance with this Section 6.2.

     Each of the parties hereto acknowledges that the Sponsors may review the business plans and
related proprietary information of many enterprises, including enterprises which may have products
or services which compete directly or indirectly with those of the Company or the Subsidiaries.
Nothing in this Section 6.2 shall preclude or in any way restrict the Sponsors or their Affiliates
from investing or participating in any particular enterprise, or trading in the securities thereof,
whether or not such enterprise has products or services that compete with those of the Company or
the Subsidiaries. Except as a Sponsor may otherwise agree in writing after the date hereof with
respect to itself or its Affiliates (or its or its Affiliates’ employees, officers, directors,
partners, members, shareholders, or agents): (i) such Persons shall have the right to, and shall
have no duty (contractual or otherwise) not to, directly or indirectly: (A) engage in the same or
similar business activities or lines of business as the Company or any of its Subsidiaries and (B)
do business with any client or customer of the Company or any of its Subsidiaries; (ii) no such
Person shall be liable to the Company or any of its Subsidiaries or Shareholders for breach of any
duty (contractual or otherwise) by reason of any such activities or of such Person’s participation
therein; and (iii) in the event that any such Person acquires knowledge of a potential transaction
or matter that may be a corporate opportunity for the Company or its Subsidiaries on the one hand,
and any such Person on the other hand, or any other person, no such Person shall have any duty
(contractual or otherwise) to communicate or present such corporate opportunity to the Company or
any of its Subsidiaries or any of its Shareholders and, notwithstanding any provision of this
Agreement to the contrary, such Persons shall not be liable to the Company or its Subsidiaries or
Shareholders for breach of any duty (contractual or otherwise) by reason of the fact that any such
Person directly or indirectly pursues or acquires such opportunity for itself, directs such
opportunity to another person, or does not present such opportunity to the Company or its
Subsidiaries or Shareholders.

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7. REMEDIES.

     7.1 Generally. The parties shall have all remedies available at law, in equity or
otherwise in the event of any breach or violation of this Agreement or any default hereunder. The
parties acknowledge and agree that in the event of any breach of this Agreement, in addition to any
other remedies which may be available, each of the parties hereto shall be entitled to specific
performance of the obligations of the other parties hereto and, in addition, to such other
equitable remedies (including preliminary or temporary relief) as may be appropriate in the
circumstances.

8. LEGENDS.

     8.1 Restrictive Legend. Each certificate representing Shares shall have the following
legend endorsed conspicuously thereupon:

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
CERTAIN TRANSFER AND OTHER RESTRICTIONS PURSUANT TO A SHAREHOLDER
AGREEMENT DATED AS OF DECEMBER 1, 2005 AMONG THE ISSUER OF SUCH
SECURITIES (THE “COMPANY”) AND CERTAIN OF THE COMPANY’S
SHAREHOLDERS, AS AMENDED. A COPY OF SUCH SHAREHOLDER AGREEMENT WILL
BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO THE HOLDER HEREOF UPON
WRITTEN REQUEST.”

     Any Person who acquires Shares which are not subject to the terms of this Agreement shall have
the right to have such legend (or the applicable portion thereof) removed from certificates
representing such Shares.

     8.2 Securities Act Legend. Each certificate representing Shares shall have the
following legend endorsed conspicuously thereupon:

“THE SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE
SECURITIES LAWS OF ANY COUNTRY AND ARE BEING OFFERED AND SOLD IN
RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT. THE SECURITIES PURCHASED HEREUNDER ARE SUBJECT TO
RESTRICTIONS ON TRANSFER AND RESALE UNDER A SHAREHOLDER AGREEMENT
AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE
SECURITIES ACT AND OTHER APPLICABLE LAWS PURSUANT TO REGISTRATION OR
EXEMPTION FROM REGISTRATION REQUIREMENTS THEREUNDER AND UNDER SUCH
SHAREHOLDER AGREEMENT”

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     8.3 Stop Transfer Instruction. The Company will instruct any transfer agent not to
register the Transfer of any Shares until the conditions specified in the foregoing legends and
this Agreement are satisfied.

     8.4 Termination of the Securities Act Legend. The requirement imposed by Section 8.2
shall cease and terminate as to any particular Shares (a) when, in the opinion of counsel
reasonably acceptable to the Company, such legend is no longer required in order to assure
compliance by the Company with the Securities Act or applicable foreign securities laws or (b) when
such Shares have been effectively registered under the Securities Act or transferred pursuant to
Rule 144 and in accordance with applicable foreign securities laws. Wherever such requirement
shall cease and terminate as to any Shares, the holder thereof shall be entitled to receive from
the Company, without expense, new certificates not bearing the legend set forth in Section 8.2.

9. AMENDMENT, TERMINATION, ETC.

     9.1 Oral Modifications. This Agreement may not be orally amended, modified, extended
or terminated, nor shall any oral waiver of any of its terms be effective.

     9.2 Written Modifications. Except as otherwise expressly set forth herein, this
Agreement may be amended, modified, extended or terminated, and the provisions hereof may be
waived, only by an agreement in writing signed by the Company and Sponsors holding not less than
70% of the Outstanding Company Shares; provided, however, the admission of new
parties pursuant to the terms of Section 3.3 shall not constitute an amendment of or notification
of this Agreement for purposes of this Section 9.2.

Notwithstanding the foregoing, if any amendment, modification, extension, termination or waiver (an
“Amendment”) would (i) adversely change or affect the rights of a particular Sponsor in a
manner disproportionate to the rights of the Sponsors approving such Amendment, or (ii) adversely
impose any additional material obligations on a particular Sponsor, then the consent of such
particular Sponsor shall also be required.

Each such Amendment shall be binding upon each party hereto and each Shareholder subject hereto.
In addition, each party hereto and each Shareholder subject hereto may waive any right hereunder,
as to itself, by an instrument in writing signed by such party or Shareholder. To the extent the
Amendment of any Section of this Agreement would require a specific consent pursuant to this
Section 9.2, any Amendment to definitions to the extent used in such Section shall also require the
specified consent.

     9.3 Effect of Termination. No termination under this Agreement shall relieve any
Person of liability for breach prior to termination.

10. DEFINITIONS. For purposes of this Agreement:

     10.1 Certain Matters of Construction. In addition to the definitions referred to or
set forth below in this Section 10:

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     (a) The words “hereof,” “herein,” “hereunder” and words of similar import shall
refer to this Agreement as a whole and not to any particular Section or provision of
this Agreement, and reference to a particular Section of this Agreement shall
include all subsections thereof;

     (b) The word “including” shall mean including, without limitation;

     (c) Definitions shall be equally applicable to both nouns and verbs and the
singular and plural forms of the terms defined; and

     (d) The masculine, feminine and neuter genders shall each include the other.

     10.2 Definitions. The following terms shall have the following meanings:

     “Acceptance Notice” shall have the meaning set forth in Section 4.3.4.

     “Acquisition” means the acquisition of the Semiconductor Products Group of Agilent
pursuant to an Asset Purchase Agreement, and ancillary agreements, between the Company and Agilent
dated August 14, 2005, as amended from time to time.

     “Adverse Claim” shall have the meaning set forth in Section 8-102 of the applicable
Uniform Commercial Code.

     “Advisory Agreement” shall mean the Advisory Agreement made and entered into as of the
Original Agreement Effective Date by and among the Company, Kohlberg Kravis Roberts & Co., L.P., a
Delaware limited partnership, and Silver Lake Management Company, L.L.C., a Delaware limited
liability company.

     “Affiliate” shall mean, with respect to any Person, (i) any other Person which
directly or indirectly through one or more intermediaries controls, or is controlled by, or is
under common control with, such Person (for the purposes of this definition, “control” (including,
with correlative meanings, the terms “controlling,” “controlled by” and “under common control
with”), as used with respect to any Person, means the possession, directly or indirectly, of the
power to direct or cause the direction of the management or policies of such Person, whether
through the ownership of voting securities, by agreement or otherwise); provided,
however, that neither the Company nor any of its controlled Affiliates shall be deemed an
Affiliate of any of the Shareholders (and vice versa); provided, further, neither
Integral Capital nor Capstone shall be deemed to be an Affiliate of any of Silver Lake, Avago
Partners or KKR, (ii) if such Person is an investment fund, any other investment fund the primary
investment advisor to which is the
primary investment advisor to such Person or an Affiliate thereof and (iii) if such Person is
a natural Person, any Family Member of such natural Person.

     “Agilent” means Agilent Technologies, Inc., a Delaware corporation.

     “Agreement” shall have the meaning set forth in the Preamble.

     “Amendment” shall have the meaning set forth in Section 9.2.

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     “Avago Partners” shall have the meaning set forth in the Preamble.

     “Board” shall have the meaning set forth in the Recitals.

     “Board Designator” has the meaning set forth in Section 2.2.1.

     “Business Day” shall mean any day that is not a Saturday, a Sunday or other day on
which banks are required or authorized by law to be closed in Singapore.

     “Capstone” shall have the meaning set forth in the Preamble.

     “Capstone Option” shall have the meaning set forth in the Recitals.

     “Capstone Shareholder Agreement” shall have the meaning set forth in the Recitals.

     “Change in Control” shall mean any transaction or series of related transactions
(whether by merger, consolidation or sale or transfer of the Company Equity Shares or assets
(including stock of its Subsidiaries), or otherwise) as a result of which an Independent Third
Party obtains ownership, directly or indirectly, (i) of Company Equity Shares which represent more
then 50% of the total voting power in the Company or (ii) by lease, license, sale or otherwise, of
all or substantially all of the assets of the Company and its Subsidiaries on a consolidated basis.

     “Charitable Organization” shall mean a charitable organization as described by Section
501(c)(3) of the Internal Revenue Code of 1986, as in effect from time to time.

     “Co-Investor” shall mean any of Temasek, Geyser, Avago Partners, Integral Capital or
Capstone.

     “Company” shall have the meaning set forth in the Preamble.

     “Company Articles of Association” shall mean the amended and restated articles of
association of the Company, as amended from time to time.

     “Company Equity Shares” shall mean the Company Shares, the Company Preferred and any
other classes of ordinary or preferred shares of the Company.

     “Company First Refusal Deadline” shall have the meaning set forth in Section 4.3.2(a).

     “Company First Refusal Notice” shall have the meaning set forth in Section 4.3.2(a).

     “Company Memorandum of Association” shall mean the amended and restated memorandum of
association of the Company, as amended from time to time.

     “Company Preferred” shall have the meaning set forth in the Recitals.

     “Company Shares” shall have the meaning set forth in the Recitals.

     “Convertible Securities” shall mean any evidence of indebtedness, shares of stock,
including the Company Preferred, or other securities or rights (other than Options and Warrants)

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which are directly or indirectly convertible into or exchangeable or exercisable for Company
Shares.

     “Current Percentage Ownership” of Silver Lake, KKR or a Sponsor means, as of a date of
determination, the number of Shares owned by Silver Lake, KKR or such Sponsor, as the case may be,
divided by the number of Silver Lake’s, KKR’s or such Sponsor’s, as the case may be, Initial
Shares. For purposes of calculating the Current Percentage Ownership of Silver Lake or KKR, each
of Silver Lake and KKR shall be deemed to own its pro rata portion of the number of Shares owned by
Luxco based upon their ownership of Luxco equity securities.

     “Drag Along Notice” shall have the meaning set forth in Section 4.2.1.

     “Drag Along Sale Percentage” shall have the meaning set forth in Section 4.2.

     “Drag Along Sellers” shall have the meaning set forth in Section 4.2.1.

     “Effective Date” shall have the meaning set forth in Section 1.

     “Equivalent Shares” shall mean, at any date of determination, (a) as to any
Outstanding Company Shares, such number of Outstanding Company Shares and (b) as to any outstanding
Options, Warrants or Convertible Securities which constitute Shares, the number of Outstanding
Company Shares for which or into which such Options, Warrants or Convertible Securities may at the
time be exercised, converted or exchanged (or which will become exercisable, convertible or
exchangeable on or prior to, or by reason of, the transaction or circumstance in connection with
which the number of Equivalent Shares is to be determined).

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as in effect from time
to time.

     “Exempt Issuance” shall mean each of the Issuances described in paragraphs (a), (b),
(c), (e), (f), (i) and (j) of Section 5.3.

     “Fair Market Value” shall mean, as of any date, as to any Share, property or other
asset, the Board’s good faith determination of the fair value of such Share, property or other
asset as of the applicable reference date.

     “Family Member” shall mean, with respect to any natural Person, such Person’s spouse
and descendants (whether or not adopted) and any trust, family limited partnership or limited
liability company that is and remains solely for the benefit of such Person’s spouse and/or
descendants.

     “First Refusal Deadline” shall have the meaning set forth in Section 4.3.2(b).

     “First Refusal Holder” shall have the meaning set forth in Section 4.3.1.

     “First Refusal Notice” shall have the meaning set forth in Section 4.3.2(b).

     “First Refusal Purchaser” shall have the meaning set forth in Section 4.3.2(b).

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     “Geyser” shall have the meaning set forth in the Preamble.

     “Indemnitees” shall have the meaning set forth in Section 11.9.

     “Independent Third Party” means any Person or group (within the meaning of Section
13(d)(3) of the Exchange Act) that is not one of the Majority Sponsors (or any Affiliate of such
Majority Sponsor, or any officer, director, or employee of such Majority Sponsor or its
Affiliates).

     “Initial Public Offering” shall mean the initial firm commitment underwritten Public
Offering registered under the Securities Act or equivalent foreign securities laws (other than a
registration statement on Form F-4, Form S-4 or Form S-8 (or any similar or successor form or
equivalent foreign form)).

     “Initial Shares” shall mean, with respect to Silver Lake, KKR or any Sponsor, the
number of Shares owned by Silver Lake, KKR or such Sponsor, as the case may be, on the date hereof,
as set forth opposite such Person’s name on Schedule I attached hereto; which number of
Shares shall be proportionally adjusted (and Schedule I shall be modified accordingly) for
any stock split, combinations, stock dividend or other recapitalization affecting the Company
Equity Shares. For purposes of calculating the number of Initial Shares held by each of Silver
Lake and KKR, each of Silver Lake and KKR shall be deemed to own its pro rata portion of the number
of Company Shares and Company Preferred, as the case may be, owned by Luxco on the date hereof
based upon their ownership of Luxco equity securities.

     “Integral Capital” shall have the meaning set forth in the Preamble.

     “Issuance” shall have the meaning set forth in Section 5.

     “Issuer” shall have the meaning set forth in Section 5.

     “KKR Designees” shall have the meaning set forth in Section 2.1.2(b).

     “KKR” shall have the meaning set forth in the Preamble.

     “KKR Europe” shall have the meaning set forth in the Preamble.

     “KKR Europe II” shall have the meaning set forth in the Preamble.

     “KKR Millennium” shall have the meaning set forth in the Preamble.

     “Luxco” shall have the meaning set forth in the Preamble.

     “Luxco Securities Subscription Agreement” shall mean the Securities Subscription
Agreement made as of the Effective Date between the Company and Luxco.

     “Majority Sponsor Approval” means the written approval of Silver Lake and KKR.

     “Majority Sponsors” shall mean Silver Lake and KKR, and for so long as Luxco holds
Shares, Luxco.

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     “Management Equity Plan” shall have the meaning set forth in the Recitals.

     “Management Shareholder Agreement” shall have the meaning set forth in the Recitals.

     “Management Shareholders” shall have the meaning set forth in the Recitals.

     “Observer” shall have the meaning set forth in Section 2.1.3.

     “Options” shall mean any options to subscribe for, purchase or otherwise directly
acquire Company Shares or Company Preferred, other than any such option held by the Company or any
right to purchase shares pursuant to this Agreement.

     “Original Agreement” has the meaning set forth in the Recitals.

     “Original Agreement Effective Date” shall have the meaning set forth in the Recitals.

     “Other Securities” shall have the meaning set forth in Section 5.1.3.

     “Outstanding Company Shares” shall mean as of the time of determination, the
outstanding Company Shares as of such time, including any Company Shares into which the outstanding
Convertible Securities as of such time are convertible (treating such Convertible Securities as a
number of outstanding Company Shares for which or into which such Convertible Securities may at the
time be converted for all purposes of this Agreement except as otherwise specifically set forth
herein). Outstanding Company Shares does not include Company Shares issuable upon exercise of
Options or Warrants which have not actually been issued as of the time of determination. In
determining Outstanding Company Shares owned by KKR or Silver Lake, in addition to the application
of Section 11.1, (i) each of KKR, Silver Lake, Integral Capital, Capstone and Avago Partners shall
be deemed to own their pro rata share of Company Equity Securities owned by Luxco based upon their
ownership of Luxco equity securities and (ii) each of KKR and Silver Lake shall be deemed to own
Company Equity Shares owned, or deemed owned pursuant to clause (i) above, by Avago Partners.

     “Participating Buyer” shall have the meaning set forth in Section 5.1.2(a).

     “Participating Seller” shall have the meaning set forth in Sections 4.1.2 and 4.2.1.

     “Participation Notice” shall have the meaning set forth in Section 5.1.1.

     “Participation Offerees” shall have the meaning set forth in Section 5.1.1.

     “Participation Portion” shall have the meaning set forth in Section 5.1.1(a).

     “Permitted Transferee” shall mean, with respect to any Shareholder, an Affiliate of
such Shareholder (other than any “portfolio company” of such Shareholder or any entity controlled
by any portfolio company of such Shareholder); provided that such transferee shall agree to
be bound by the terms of this Agreement in accordance with Section 3.3. With respect to Temasek,
Permitted Transferees of Temasek includes Affiliates of Temasek Holdings (Private) Limited.

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     “Person” shall mean any individual, partnership, corporation, company, association,
trust, joint venture, limited liability company, unincorporated organization, entity or division,
or any government, governmental department or agency or political subdivision thereof.

     “Price Per Equivalent Share” shall mean the Board’s good faith determination of the
price per Equivalent Share of any Convertible Securities or Options which are the subject of an
Issuance pursuant to Section 5 hereof.

     “Pro Rata Portion” shall mean:

     (a) for purposes of Section 4.1.4 with respect to each Tag Along Seller, a
number of Shares equal to the aggregate number of Shares of the applicable class
that the Prospective Buyer is willing to purchase in the proposed Sale, multiplied
by a fraction, the numerator of which is the aggregate number of Shares of the
applicable class held by such Tag Along Seller and the denominator of which is the
aggregate number of Shares of the applicable class held by all Tag Along Sellers;
and

     (b) for purposes of Section 4.3.6, with respect to each First Refusal
Purchaser, a number of Shares equal to (i) the aggregate number of Subject Shares of
the applicable class minus the number of Subject Shares of the applicable class
purchased by the Company pursuant to Section 4.3.6(b)(i), multiplied by (ii) a
fraction, the numerator of which is the aggregate number of Shares of the applicable
class held by such First Refusal Purchaser and the denominator of which is the
aggregate number of Shares of the applicable class held by all First Refusal
Purchasers.

     “Prospective Buyer” shall mean any Person, including the Company or any of its
Subsidiaries, proposing to purchase or otherwise acquire Shares from a Prospective Selling
Shareholder.

     “Prospective Selling Shareholder” shall mean:

     (a) for purposes of Section 4.1, any Majority Sponsor that proposes to Transfer
any Shares to any Prospective Buyer;

     (b) for purposes of Section 4.2, any Shareholder forming part of the group of
Majority Sponsors that has elected to exercise the drag along right provided by such
Section; and

     (c) for purposes of Section 4.3, any Shareholder other than a Majority Sponsor
that proposes to Transfer any Shares in a transaction that is subject to such
Section.

     “Prospective Subscriber” shall have the meaning set forth in Section 5.1.1(a).

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     “Public Offering” shall mean a public offering and sale of Company Shares by the
Company (or any successor) pursuant to an effective registration statement under the Securities Act
and/or in compliance with equivalent applicable foreign securities laws.

     “Registration Rights Agreement” shall have the meaning set forth in Section 11.4.

     “Related Holder” shall have the meaning set forth in Section 3.4.

     “Rule 144” shall mean Rule 144 under the Securities Act (or any successor rule).

     “Sale” shall mean a Transfer for value and the terms “Sell” and “Sold”
shall have correlative meanings.

     “Sale Notice” shall have the meaning set forth in Section 4.3.1.

     “Securities Act” shall mean the United States Securities Act of 1933, as in effect
from time to time.

     “Securities Subscription Agreement” shall mean the Securities Subscription Agreement
made as of the Original Agreement Effective Date among the Company and each of the investors listed
on Schedule 1 thereto.

     “Senior Manager” shall mean the chief executive officer (or if none, the highest
ranking executive officer) of the Company, and any management employee of the Company that reports
directly to the chief executive officer (or if none, the highest ranking executive officer) of the
Company.

     “Shareholders” shall have the meaning set forth in the Preamble.

     “Shares” shall mean (a) all Outstanding Company Shares held by a Shareholder, whenever
issued, including all Outstanding Company Shares issued upon the exercise, conversion or exchange
of any Options, Warrants or Convertible Securities, and (b) all Options, Warrants and Convertible
Securities held by a Shareholder (treating such Options, Warrants and Convertible Securities as a
number of Company Shares equal to the number of Equivalent Shares represented by such Options,
Warrants and Convertible Securities for all purposes of this Agreement except as otherwise
specifically set forth herein). For clarification purposes, the Company Shares and Company
Preferred are each a separate class of Shares.

     “Silver Lake” shall have the meaning set forth in the Preamble.

     “SLP” shall have the meaning set forth in the Preamble.

     “SLP Cayman” shall have the meaning set forth in the Preamble.

     “SLP Designees” shall have the meaning set forth in Section 2.1.2(a).

     “Sponsor Designees” shall have the meaning set forth in Section 2.1.2(c).

     “Sponsors” shall mean the Majority Sponsors and the Co-Investors.

 - 38 - 

 

     “Subject Securities” shall have the meaning set forth in Section 5.

     “Subject Shares” shall have the meaning set forth in Section 4.3.1(a).

     “Subsidiary” means, with respect to any Person, any company, corporation, partnership,
limited liability company, association, joint venture or other business entity of which (i) if a
company or corporation, at least 50% of the total voting power of shares or stock entitled
(irrespective of whether, at the time, stock of any other class or classes of such corporation
shall have or might have voting power by reason of the happening of any contingency) to vote in the
election of directors, managers or trustees thereof is at the time owned or controlled, directly or
indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination
thereof, or (ii) if a partnership, limited liability company, association, joint venture or other
business entity, at least 50% of the partnership, joint venture or other similar ownership interest
thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more
Subsidiaries of that Person or a combination thereof. For purposes hereof, references to a
“Subsidiary” of any Person shall be given effect only at such times that such Person has one or
more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary” refers to a Subsidiary of
the Company.

     “Tag Along Deadline” shall have the meaning set forth in Section 4.1.2.

     “Tag Along Holder” shall have the meaning set forth in Section 4.1.1.

     “Tag Along Notice” shall have the meaning set forth in Section 4.1.1.

     “Tag Along Offer” shall have the meaning set forth in Section 4.1.2.

     “Tag Along Sale Percentage” shall have the meaning set forth in Section 4.1.1(a).

     “Tag Along Sellers” shall have the meaning set forth in Section 4.1.2.

     “Temasek” shall have the meaning set forth in the Preamble.

     “Temasek Designee” shall have the meaning set forth in Section 2.1.2(c).

     “Third-Party Claim” shall have the meaning set forth in Section 11.9.

     “Transaction Agreements” shall mean this Agreement, the Registration Rights Agreement,
the Securities Subscription Agreement and the Luxco Securities Subscription Agreement.

     “Transfer” shall mean any sale, pledge, assignment, encumbrance or other transfer or
disposition of any Shares to any other Person, whether directly, indirectly, voluntarily,
involuntarily, by operation of law, pursuant to judicial process or otherwise.

     “Warrants” shall mean any warrants to subscribe for, purchase or otherwise directly
acquire Company Equity Shares.

 - 39 - 

 

     “Wholly Owned Subsidiary” means any Subsidiary of the Company of which all of the
capital stock or other ownership interests (including any options, warrants, or other securities
convertible into, or exercisable or exchangeable for, equity securities) are owned by the Company
and/or one or more Wholly Owned Subsidiaries.

11. MISCELLANEOUS.

     11.1 Aggregation of Shares. All Shares held by a Shareholder and its Affiliates shall
be aggregated together for purposes of (a) determining the availability of any rights under
Sections 2, 3.4, 4, 5, 6 and 9.2 and (b) applying the defined terms “Initial Shares” and “Current
Percentage Ownership”. Each of Silver Lake and KKR shall be deemed to own its own, its Affiliates’
and Avago Partners’ pro rata portion of the number of Outstanding Company Shares owned by Luxco, in
addition to all Shares held directly by Avago Partners, for purposes of determining the
availability of any rights of Silver Lake and KKR under Section 2 and Section 6.1. Silver Lake
shall also be deemed to own Integral Capital’s pro rata portion of the number of Outstanding
Company Shares owned by Luxco, in addition to all Shares held directly by Integral Capital, for
purposes of determining the availability of any rights of Silver Lake under Section 6.1. If the
Shares held by a Sponsor are held by or transferred to one or more Affiliates or Permitted
Transferees of such Sponsor, then for purposes of this Agreement, the vote or action of such
Sponsor shall be made by the holder(s) of a majority of the Shares of the relevant class(es) held
by such Sponsor, Affiliates and Permitted Transferees as to which such vote or action is to be
made.

     11.2 Authority; Effect. Each party hereto represents and warrants to and agrees with
each other party that the execution and delivery of this Agreement and the consummation of the
transactions contemplated hereby have been duly authorized on behalf of such party and do not
violate any agreement or other instrument applicable to such party or by which its assets are
bound. This Agreement does not, and shall not be construed to, give rise to the creation of a
partnership among any of the parties hereto, or to constitute any of such parties members of a
joint venture, group or other association.

     11.3 Notices. Any and all notices or other communications or deliveries required or permitted to be
provided hereunder shall be in writing and shall be deemed given, delivered and effective on the
earliest of (i) the date of receipt of confirmation of transmission, if such notice or
communication is delivered via facsimile at the facsimile telephone number specified in this
Section 11.3 prior to 5:00 p.m. (New York time) on a Business Day, (ii) the Business Day after the
date of receipt of confirmation of transmission, if such notice or communication is delivered via
facsimile at the facsimile telephone number specified in this Agreement later than 5:00 p.m. (local
time for the recipient) on any Business Day and earlier than 11:59 p.m. (local time for the
recipient) on the day preceding the next Business Day, (iii) one (1) Business Day after being sent,
if sent by nationally recognized overnight courier service (charges prepaid), (iv) the date of
receipt of a non-automated reply email confirming receipt, if sent via email, or (v) upon actual
receipt by the party to whom such notice is required to be given. The address for such notices and
communications shall be as follows (or such other address as any such party shall designate by
written notice to the other parties):

 - 40 - 

 

If to the Company:

	 	 	 	 	 
	 	 	Avago Technologies Limited
	 	 	No. 1 Yishun Avenue 7
	 	 	Singapore 768923
	 

	 	Singapore	 	 
	 

	 	Facsimile:
	 	(408) 435-4288
	 

	 	Attention:
	 	Dick M. Chang and Rex Jackson
	 

	 	E-mail:
	 	dick.chang@avagotech.com and rex.jackson@avagotech.com
	 
	 	 	 	 
	with a copy to:
	 
	 	 	 	 
	 	 	Kohlberg Kravis Roberts & Co.
	 	 	2800 Sand Hill Road, Suite 200
	 	 	Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 233-6574 and (650) 233-6548
	 

	 	Attention:
	 	James H. Greene Jr. and Adam A. Clammer
	 

	 	E-mail:
	 	jgreene@kkr.com and adam@kkr.com
	 
	 	 	 	 
	and with a copy to:
	 
	 	 	 	 
	 	 	Silver Lake Partners

2725 Sand Hill Road, Suite 150

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 234-2593
	 

	 	Attention:
	 	Alan K. Austin, Managing Director and Chief Operating Officer,
and Yolande Jun, Chief Financial Officer
	 

	 	E-mail:
	 	alan.austin@silverlake.com and yolande.jun@silverlake.com
	 
	 	 	 	 
	and with a copy to:
	 
	 	 	 	 
	 	 	Latham & Watkins LLP

135 Commonwealth Drive

Menlo Park, CA 94025
	 

	 	Facsimile:
	 	(650) 463-2600
	 

	 	Attention:
	 	Peter F. Kerman
	 

	 	E-mail:
	 	peter.kerman@lw.com
	 
	 	 	 	 
	If to Luxco:
	 
	 	 	Bali Investments S.à r.l.
	 	 	9, rue Schiller
	 	 	L-2519 Luxembourg
	 

	 	Luxembourg	 	 
	 

	 	Facsimile:
	 	+352 466 234
	 

	 	Attention:
	 	Susanne Th. Kortekaas
	 

	 	E-mail:
	 	susanne.kortekas@loyens.com

 - 41 - 

 

	 	 	 	 	 
	with a copy to:
	 
	 	 	 	 
	 	 	Kohlberg Kravis Roberts & Co.

2800 Sand Hill Road, Suite 200

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 233-6574 and (650) 233-6548
	 

	 	Attention:
	 	James H. Greene Jr. and Adam A. Clammer
	 

	 	E-mail:
	 	jgreene@kkr.com and adam@kkr.com
	 
	 	 	 	 
	and with a copy to:
	 
	 	 	 	 
	 	 	Silver Lake Partners

2725 Sand Hill Road, Suite 150

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 234-2593
	 

	 	Attention:
	 	Alan K. Austin, Managing Director and Chief Operating Officer,
and Yolande Jun, Chief Financial Officer
	 

	 	E-mail:
	 	alan.austin@silverlake.com and yolande.jun@silverlake.com
	 
	 	 	 	 
	and with a copy to:
	 	 	Latham & Watkins LLP

135 Commonwealth Drive

Menlo Park, CA 94025
	 

	 	Facsimile:
	 	(650) 463-2600
	 

	 	Attention:
	 	Peter F. Kerman
	 

	 	E-mail:
	 	peter.kerman@lw.com
	 
	 	 	 	 
	If to Avago Partners:
	 	 	Avago Investment Partners, Limited Partnership

c/o Walkers SPV Limited

PO Box 908GT

George Town, Grand Cayman

Cayman Islands
	 

	 	Facsimile:
	 	(345) 814-8217
	 

	 	Attention:
	 	Iain McMurdo
	 

	 	E-mail:
	 	imcmurdo@walkers.com.ky
	 
	 	 	 	 
	with a copy to:
	 
	 	 	 	 
	 	 	Kohlberg Kravis Roberts & Co.

2800 Sand Hill Road, Suite 200

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 233-6574 and (650) 233-6548
	 

	 	Attention:
	 	James H. Greene Jr. and Adam A. Clammer
	 

	 	E-mail:
	 	jgreene@kkr.com and adam@kkr.com

 - 42 - 

 

	 	 	 	 	 
	and with a copy to:
	 
	 	 	 	 
	 	 	Silver Lake Partners

2725 Sand Hill Road, Suite 150

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 234-2593
	 

	 	Attention:
	 	Alan K. Austin, Managing Director and Chief Operating Officer,
and Yolande Jun, Chief Financial Officer
	 

	 	E-mail:
	 	alan.austin@silverlake.com and yolande.jun@silverlake.com
	 
	 	 	 	 
	and with a copy to:
	 
	 	 	 	 
	 	 	Latham & Watkins LLP

135 Commonwealth Drive

Menlo Park, CA 94025
	 

	 	Facsimile:
	 	(650) 463-2600
	 

	 	Attention:
	 	Peter F. Kerman
	 

	 	E-mail:
	 	peter.kerman@lw.com
	 
	 	 	 	 
	If to Silver Lake:
	 
	 	 	 	 
	 	 	Silver Lake Partners II Cayman and

Silver Lake Technology Investors II Cayman

c/o Walkers SPV Limited

PO Box 908GT

George Town, Grand Cayman

Cayman Islands
	 

	 	Facsimile:
	 	(345) 814-8217
	 

	 	Attention:
	 	Iain McMurdo
	 

	 	E-mail:
	 	imcmurdo@walkers.com.ky
	 
	 	 	 	 
	with a copy to:
	 
	 	 	 	 
	 	 	Silver Lake Partners

2725 Sand Hill Road, Suite 150

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 234-2593
	 

	 	Attention:
	 	Alan K. Austin, Managing Director and Chief Operating Officer,
and Yolande Jun, Chief Financial Officer
	 

	 	E-mail:
	 	alan.austin@silverlake.com and yolande.jun@silverlake.com

 - 43 - 

 

	 	 	 	 	 
	and with a copy to:
	 
	 	 	 	 
	 	 	Latham & Watkins LLP

135 Commonwealth Drive

Menlo Park, CA 94025
	 

	 	Facsimile:
	 	(650) 463-2600
	 

	 	Attention:
	 	Peter F. Kerman
	 

	 	E-mail:
	 	peter.kerman@lw.com
	 
	 	 	 	 
	If to KKR:
	 
	 	 	 	 
	 	 	KKR Millennium Fund (Overseas), KKR European Fund,

KKR European Fund II and KKR Partners (International)

c/o Eeson & Woolstencroft LLP

Suite 500, 603 - 7th Avenue S.W.

Calgary, Alberta

Canada
	 

	 	Facsimile:
	 	(403) 264-1603
	 

	 	Attention:
	 	Mark N. Woolstencroft
	 

	 	E-mail:
	 	mark.woolstencroft@ewlegal.com
	 
	 	 	 	 
	with a copy to:
	 
	 	 	 	 
	 	 	Kohlberg Kravis Roberts & Co.

2800 Sand Hill Road, Suite 200

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 233-6574 and (650) 233-6548
	 

	 	Attention:
	 	James H. Greene Jr. and Adam A. Clammer
	 

	 	E-mail:
	 	jgreene@kkr.com and adam@kkr.com
	 
	 	 	 	 
	and with a copy to:
	 
	 	 	 	 
	 	 	Latham & Watkins LLP

135 Commonwealth Drive

Menlo Park, CA 94025
	 

	 	Facsimile:
	 	(650) 463-2600
	 

	 	Attention:
	 	Peter F. Kerman
	 

	 	E-mail:
	 	peter.kerman@lw.com
	 
	 	 	 	 
	If to Integral Capital:
	 
	 	 	 	 
	 	 	Integral Capital Partners

3000 Sand Hill Road

Bldg. 3, Suite 240

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 233-0366
	 

	 	Attention:
	 	Pamela K. Hagenah
	 

	 	E-mail:
	 	pam@icp.com

 - 44 - 

 

	 	 	 	 	 
	If to Temasek:
	 
	 	 	 	 
	 	 	Seletar Investments Pte. Ltd.

60B Orchard Road

#06-18

Tower 2

The Atrium @ Orchard

Singapore 238891

Singapore
	 

	 	Facsimile:
	 	011-65-6821-1172
	 

	 	Attention:
	 	Dennis Siew and Andrew Yeo
	 

	 	E-mail:
	 	dsiew@temasek.com.sg and andrewyeo@temasek.com.sg
	 
	 	 	 	 
	with a copy to:
	 
	 	 	 	 
	 	 	Milbank, Tweed, Hadley & McCloy LLP

30 Raffles Place

#14-00 Caltex House

Singapore 048622

Singapore

	 

	 	Facsimile:
	 	011-65-6428-2500 and (650) 739-7100
	 

	 	Attention:
	 	David H. Zemans and Melainie K. Mansfield
	 

	 	E-mail:
	 	dzemans@milbank.com and mmansfield@milbank.com
	 
	 	 	 	 
	If to Geyser:
	 
	 	 	 	 
	 	 	Geyser Investment Pte Ltd

c/o GIC

168 Robinson Road

#37-01 Capital Tower

Singapore 068912

Singapore
	 

	 	Facsimile:
	 	011-65-6889-6891
	 

	 	Attention:
	 	Ng Kin Sze
	 

	 	E-mail:
	 	ngkinsze@gic.com.sg
	 
	 	 	 	 
	with a copy to:
	 
	 	 	 	 
	 	 	Geyser Investment Pte Ltd

c/o GIC Special Investments Pte. Ltd.

255 Shoreline Drive, Suite 600

Redwood City, CA 94065
	 

	 	Facsimile:
	 	(650) 802-1213
	 

	 	Attention:
	 	Tay Lim Hock and Soo Yar Ping
	 

	 	E-mail:
	 	taylimhock@gic.com.sg and sooyarping@gic.com.sg

 - 45 - 

 

	 	 	 	 	 	 	 
	 	 	and with a copy to:
	 
	 	 	 	 	 	 
	 	 	 	 	Heller Ehrman LLP

333 Bush Street

San Francisco, CA 94104-2878
	 

	 	 	 	Facsimile:
	 	(415) 772-6268
	 

	 	 	 	Attention:
	 	Randall B. Schai
	 

	 	 	 	E-mail:
	 	randall.schai@hellerehrman.com
	 
	 	 	 	 	 	 
	 	 	If to Capstone:
	 
	 	 	 	 	 	 
	 	 	 	 	Capstone Equity Investors LLC

9 West 57th Street

New York, New York 10019
	 

	 	 	 	Facsimile:
	 	(212) 230-9795
	 

	 	 	 	Attention:
	 	Dean Nelson
	 

	 	 	 	E-mail:
	 	nelsd@kkr.com

     11.4 Binding Effect, Etc. Except for the Company Memorandum of Association, the
Company Articles of Association, the Management Shareholder Agreement, the Capstone Shareholder
Agreement, the Securities Subscription Agreement, the Luxco Securities Subscription Agreement and
the Registration Rights Agreement dated as of the Original Agreement Effective Date among the
Company, the Sponsors and certain other Persons (as amended from time to time, the
“Registration Rights Agreement”), this Agreement constitutes the entire agreement of the
parties with respect to its subject matter, supersedes all prior or contemporaneous oral or written
agreements or discussions with respect to such subject matter, including the term sheet dated
August 14, 2005 among the Company, Temasek, Geyser and certain entities affiliated with KKR and
Silver Lake, and shall be binding upon and inure to the benefit of the parties hereto and their
respective heirs, representatives, successors and permitted assigns. Except as otherwise
expressly provided herein, no holder party hereto may assign any of its respective rights or
delegate any of its respective obligations under this Agreement without the prior written consent
of each of the Sponsors, and any attempted assignment or delegation in violation of the foregoing
shall be null and void.

     11.5 Descriptive Heading. The descriptive headings of this Agreement are for
convenience of reference only, are not to be considered a part hereof and shall not be construed to
define or limit any of the terms or provisions hereof.

     11.6 Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed an original, but all of which taken together shall constitute one instrument.

     11.7 Severability. In the event that any provision hereof would, under applicable
law, be invalid or unenforceable in any respect, such provision shall be construed by modifying or
limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible
under, applicable law. The provisions hereof are severable, and in the event any provision hereof

 - 46 - 

 

should be held invalid or unenforceable in any respect, it shall not invalidate, render
unenforceable or otherwise affect any other provision hereof.

     11.8 No Recourse. Notwithstanding anything that may be expressed or implied in this
Agreement, the Company and each Shareholder covenant, agree and acknowledge that no recourse under
this Agreement or any documents or instruments delivered in connection with this Agreement shall be
had against any current or future director, officer, employee, general or limited partner,
Shareholder, holder of beneficial interest or member of any Shareholder or of any Affiliate or
assignee thereof, as such, whether by the enforcement of any assessment or by any legal or
equitable proceeding, or by virtue of any statute, regulation or other applicable law, it being
expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed
on or otherwise be incurred by any current or future officer, agent or employee of any shareholder
or any current or future member of any Shareholder or any current or future director, officer,
employee, partner, shareholder, holder of beneficial interest or member of any Shareholder or of
any Affiliate or assignee thereof, as such, for any obligation of any Shareholder under this
Agreement or any documents or instruments delivered in connection with this Agreement for any claim
based on, in respect of or by reason of such obligations or their creation.

     11.9 Expenses; Indemnity. To the extent permitted by applicable law, the Company and
the Subsidiaries, jointly and severally, will pay, and will indemnify, exonerate and hold each of
the Sponsors, and each of their respective partners, shareholders, members, Affiliates, directors,
officers, fiduciaries, managers, controlling Persons, employees and agents and each of the partners, shareholders,
members, Affiliates, directors, officers, fiduciaries, managers, controlling Persons, employees and
agents of each of the foregoing (collectively, the “Indemnitees”) free and harmless from
and against any and all liability for payment of, the out-of-pocket expenses (including reasonable
fees and expenses of all advisors, accountants and counsel) incurred by the Indemnitees or any of
them, in connection with: (a) any amendments or waivers (whether or not the same become effective)
under or in respect of this Agreement, the other Transaction Agreements, the Company Memorandum of
Association or the Company Articles of Association, (b) the interpretation of, and enforcement of
the rights granted under, this Agreement, the other Transaction Agreements, the Company Memorandum
of Association or the Company Articles of Association, (c) any transaction to which the Company or
any of the Subsidiaries is a party and as to which such Person seeks advice of counsel, and (d) any
Third-Party Claim arising out of its investment in the Company (other than liabilities arising out
of its breach of this Agreement, any of the other Transaction Agreements, or any other agreement or
instrument to which such Indemnitee is or becomes a party). If and to the extent that the
foregoing undertaking may be unavailable or unenforceable for any reason, the Company and the
Subsidiaries, jointly and severally, hereby agree to make the maximum contribution to the payment
and satisfaction of each of the foregoing indemnified liabilities which is permissible under
applicable law. The rights of any Indemnitee to indemnification hereunder will be in addition to
any other rights any such Person may have under any other agreement or instrument referenced above
or any other agreement or instrument to which such Indemnitee is or becomes a party or is or
otherwise becomes a beneficiary or under law or regulation. A “Third-Party Claim” means
any (i) claim brought by a Person other than the Company or any of the Subsidiaries, a Sponsor or
any Indemnitee and (ii) any derivative claim brought in the name of the Company or any of the
Subsidiaries that is initiated by a Person other than a Sponsor or any Indemnitee.

 - 47 - 

 

     11.10 No Third Party Beneficiaries. Nothing in this Agreement is intended to confer
upon any Person other than the parties hereto any rights or remedies hereunder.

     11.11 Consent of Shareholders to Advisory Agreement. Each of the Shareholders hereby
acknowledges that the Company has entered into the Advisory Agreement under which certain
Affiliates of KKR and Silver Lake will receive fees and reimbursement of expenses not received by
the other Shareholders or any of their Affiliates, and each such Shareholder agrees and consents to
the Company entering into the Advisory Agreement and to the payment by the Company, and the receipt
by certain Affiliates of KKR and SLP, of the amounts provided for by the Advisory Agreement;
provided, however, no amendment to the Advisory Agreement that materially increases
the financial benefits payable to KKR, Silver Lake or both thereunder shall be entered into without
the prior written approval of a majority of the Company’s disinterested directors or a majority in
interest of the Company’s disinterested shareholders.

12. GOVERNING LAW.

     12.1 Governing Law. The Singapore Companies Act will govern all issues concerning the
internal corporate affairs of the Company. All other claims arising out of or based upon this
Agreement or relating to the subject matter hereof shall be governed by and construed in accordance
with the domestic substantive laws of the State of New York without giving effect to any choice or
conflict of laws provision or rule that would cause the application of the domestic substantive
laws of any other jurisdiction.

     12.2 Consent to Jurisdiction. Each party to this Agreement, by its execution hereof,
(a) hereby irrevocably submits to the exclusive jurisdiction of the United States District Court
for the Southern District of New York and the state courts sitting in the State of New York, County
of New York for the purpose of any action, claim, cause of action or suit (in contract, tort or
otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or
relating to the subject matter hereof, (b) hereby waives to the extent not prohibited by applicable
law, and agrees not to assert, and agrees not to allow any of its subsidiaries to assert, by way of
motion, as a defense or otherwise, in any such action, any claim that it is not subject personally
to the jurisdiction of the above-named courts, that its property is exempt or immune from
attachment or execution, that any such proceeding brought in one of the above-named courts is
improper, or that this Agreement or the subject matter hereof or thereof may not be enforced in or
by such court and (c) hereby agrees not to commence or maintain any action, claim, cause of action
or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or
based upon this Agreement or relating to the subject matter hereof or thereof other than before one
of the above-named courts nor to make any motion or take any other action seeking or intending to
cause the transfer or removal of any such action, claim, cause of action or suit (in contract, tort
or otherwise), inquiry, proceeding or investigation to any court other than one of the above-named
courts whether on the grounds of inconvenient forum or otherwise. Notwithstanding the foregoing,
to the extent that any party hereto is or becomes a party in any litigation in connection with
which it may assert indemnification rights set forth in this agreement, the court in which such
litigation is being heard shall be deemed to be included in clause (a) above. Notwithstanding the
foregoing, any party to this Agreement may commence and maintain an action to enforce a judgment of
any of the above-named courts in any court of competent jurisdiction. Each party hereto hereby
consents to service of process in any such

 - 48 - 

 

proceeding in any manner permitted by New York law, and
agrees that service of process by registered or certified mail, return receipt requested, at its
address specified pursuant to Section 11.3 hereof is reasonably calculated to give actual notice.

     12.3 WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH
CANNOT BE WAIVED, EACH PARTY HERETO HEREBY WAIVES AND COVENANTS THAT IT
WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN
ANY FORUM IN RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR
OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE
SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS
CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. EACH PARTY HERETO
ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION 12.3
CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO THIS
AGREEMENT. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 12.3 WITH
ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL
BY JURY.

     12.4 Exercise of Rights and Remedies. No delay of or omission in the exercise of any
right, power or remedy accruing to any party as a result of any breach or default by any other
party under this Agreement shall impair any such right, power or remedy, nor shall it be construed
as a waiver of or acquiescence in any such breach or default, or of any similar breach or default
occurring later; nor shall any such delay, omission nor waiver of any single breach or default be
deemed a waiver of any other breach or default occurring before or after that waiver.

* * Signature pages follow * *

 - 49 - 

 

          IN WITNESS WHEREOF, the parties have executed this Amended and Restated Shareholder Agreement
on the day and year first written above.

	 	 	 	 	 	 	 
	 	 	COMPANY:	 	 
	 
	 	 	 	 	 	 
	 	 	AVAGO TECHNOLOGIES LIMITED	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene Jr.	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James H. Greene Jr.	 	 
	 

	 	Title:
	 	Director	 	 

Signature Page to Amended and Restated Shareholder Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	SPONSORS:	 	 
	 
	 	 	 	 	 	 
	 	 	BALI INVESTMENTS S.à R.L.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene  Jr.	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James H. Greene  Jr.	 	 
	 

	 	Title:
	 	Manager	 	 

Signature Page to Amended and Restated Shareholder Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	SILVER LAKE PARTNERS II CAYMAN, 
L.P.	 	 
	 	 	By: Silver Lake Technology Associates II

          Cayman, L.P., its General Partner	 	 
	 	 	By: Silver Lake (Offshore) AIV GP II, Ltd.,

          its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Alan K. Austin	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Alan K. Austin	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	SILVER LAKE TECHNOLOGY
INVESTORS II CAYMAN, L.P.	 	 
	 	 	By: Silver Lake (Offshore) AIV GP II, Ltd.,

           its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Alan K. Austin	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Alan K. Austin	 	 
	 

	 	Title:
	 	Director	 	 

Signature Page to Amended and Restated Shareholder Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	KKR MILLENNIUM FUND 
(OVERSEAS), LIMITED

PARTNERSHIP	 	 
	 	 	By: KKR Associates Millennium (Overseas),

        Limited Partnership, its General Partner	 	 
	 	 	By: KKR Millennium (Overseas), Limited, its

        General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene Jr.	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James H. Greene Jr.	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	KKR EUROPEAN FUND, LIMITED 
PARTNERSHIP	 	 
	 	 	By: KKR Associates Europe, Limited

        Partnership, its General Partner	 	 
	 	 	By: KKR Europe Limited, its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene Jr.	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James H. Greene Jr.	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	KKR EUROPEAN FUND II, LIMITED PARTNERSHIP	 	 
	 	 	By: KKR Associates Europe II, Limited

        Partnership, its General Partner	 	 
	 	 	By: KKR Europe II Limited, its General

        Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene Jr.	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James H. Greene Jr.	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	KKR PARTNERS (INTERNATIONAL), LIMITED
PARTNERSHIP	 	 
	 	 	By: KKR 1996 Overseas, Limited	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene Jr.	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James H. Greene Jr.	 	 
	 

	 	Title:
	 	Director	 	 

Signature Page to Amended and Restated Shareholder Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	INTEGRAL CAPITAL PARTNERS VII, 
L.P.	 	 
	 	 	By: Integral Capital Management VII, LLC,

        its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Pamela K. Hagenah	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Pamela K. Hagenah	 	 
	 

	 	Title:
	 	Manager	 	 

Signature Page to Amended and Restated Shareholder Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	AVAGO INVESTMENT PARTNERS, 
LIMITED PARTNERSHIP	 	 
	 	 	By: Avago Investment G.P., Limited, its

        General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene Jr.	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	James H. Greene Jr.	 	 
	 

	 	Title:
	 	KKR Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Alan K. Austin	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Alan K. Austin	 	 
	 

	 	Title:
	 	SLP Officer	 	 

Signature Page to Amended and Restated Shareholder Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	SELETAR INVESTMENTS PTE. LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Dennis Siew	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Dennis Siew	 	 
	 

	 	Title:
	 	Authorized Signatory	 	 

Signature Page to Amended and Restated Shareholder Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	GEYSER INVESTMENT PTE LTD	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Lim Hock Tay	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Lim Hock Tay	 	 
	 

	 	Title:
	 	Authorized Signatory	 	 

Signature Page to Amended and Restated Shareholder Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	CAPSTONE EQUITY INVESTORS LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Dean Nelson	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Dean Nelson	 	 
	 

	 	Title:
	 	Managing Member	 	 

Signature Page to Amended and Restated Shareholder Agreement for Avago Technologies Limitedexv10w30

 

Exhibit-10.30

Execution Copy
 

 

 

REGISTRATION RIGHTS AGREEMENT

among

Avago Technologies Limited,

Silver Lake Partners II Cayman, L.P.,

Silver Lake Technology Investors II Cayman, L.P.,

Integral Capital Partners VII, L.P.,

KKR Millennium Fund (Overseas), Limited Partnership,

KKR European Fund, Limited Partnership,

KKR European Fund II, Limited Partnership,

KKR Partners (International), Limited Partnership,

Capstone Equity Investors LLC,

Avago Investment Partners, Limited Partnership,

Bali Investments S.à r.l.,

Seletar Investments Pte. Ltd.,

Geyser Investment Pte. Ltd. and

certain other Persons

Dated as of December 1, 2005

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	1. DEMAND REGISTRATIONS
	 	 	2	 
	1.1. Requests for Registration
	 	 	2	 
	1.2. Demand Notice
	 	 	2	 
	1.3. Demand Registration Expenses
	 	 	3	 
	1.4. Short-Form Registrations
	 	 	3	 
	1.5. Priority on Demand Registrations
	 	 	3	 
	1.6. Restrictions on Demand Registrations
	 	 	3	 
	1.7. Selection of Underwriters
	 	 	4	 
	1.8. Other Registration Rights
	 	 	4	 
	2. PIGGYBACK REGISTRATIONS
	 	 	4	 
	2.1. Right to Piggyback
	 	 	4	 
	2.2. Piggyback Expenses
	 	 	4	 
	2.3. Priority on Primary Registrations
	 	 	5	 
	2.4. Priority on Secondary Registrations
	 	 	5	 
	3. REGISTRATION GENERALLY
	 	 	5	 
	3.1. Registration Procedures
	 	 	5	 
	3.2. Registration Expenses
	 	 	10	 
	3.3. Participation in Underwritten Offerings
	 	 	10	 
	3.4. Holdback Agreements
	 	 	11	 
	3.4.1. Securityholder Holdback
	 	 	11	 
	3.4.2. Company Holdback
	 	 	12	 
	3.5. Current Public Information
	 	 	12	 
	4. INDEMNIFICATION
	 	 	12	 
	4.1. Indemnification by the Company
	 	 	12	 
	4.2. Indemnification by Holders of Registrable Securities
	 	 	13	 
	4.3. Procedure
	 	 	13	 
	4.4. Entry of Judgment; Settlement
	 	 	14	 
	4.5. Contribution
	 	 	14	 
	4.6. Other Rights
	 	 	15	 
	5. DEFINITIONS
	 	 	15	 
	6. MISCELLANEOUS
	 	 	18	 
	6.1. No Inconsistent Agreements; Foreign Registration
	 	 	18	 
	6.2. Remedies
	 	 	19	 
	6.3. Amendment and Waiver
	 	 	19	 
	6.4. Successors and Assigns; Transferees
	 	 	19	 
	6.5. Severability
	 	 	20	 
	6.6. Counterparts
	 	 	20	 
	6.7. Descriptive Headings
	 	 	20	 

i

 

	 	 	 	 	 
	 	 	Page
	6.8. Notices
	 	 	20	 
	6.9. Delivery by Facsimile
	 	 	26	 
	6.10. Governing Law
	 	 	26	 

ii

 

REGISTRATION RIGHTS AGREEMENT

     This Registration Rights Agreement (this “Agreement”) is made as of December 1, 2005
(the “Effective Date”) by and among:

	 	(i)	 	Avago Technologies Limited, a Singapore public limited company (together with
its successors and permitted assigns, the “Company”);
	 
	 	(ii)	 	Bali Investments S.à r.l., a company organized under the laws of Luxembourg
(together with its Affiliates, “Luxco”);
	 
	 	(iii)	 	Silver Lake Partners II Cayman, L.P. (“SLP Cayman”), Silver Lake
Technology Investors II Cayman, L.P. (together with SLP Cayman and their respective
Affiliates, “Silver Lake”) and Integral Capital Partners VII, L.P.
(“Integral Capital”);
	 
	 	(iv)	 	KKR Millennium Fund (Overseas), Limited Partnership, KKR European Fund, Limited
Partnership, KKR European Fund II, Limited Partnership, and KKR Partners
(International), Limited Partnership (collectively, and together with their respective
Affiliates, “KKR”, and together with Luxco and Silver Lake, the “Majority
Sponsors”);
	 
	 	(v)	 	Capstone Equity Investors LLC, a Delaware limited liability company
(“Capstone”);
	 
	 	(vi)	 	Avago Investment Partners, Limited Partnership, a limited partnership formed
under the Exempt Limited Partnership Law (2003 Revision) of the Cayman Islands
(together with its Affiliates, “Avago Partners”);
	 
	 	(vii)	 	Seletar Investments Pte. Ltd., a private limited company organized under the
laws of Singapore (together with its Affiliates, “Temasek”);
	 
	 	(viii)	 	Geyser Investment Pte. Ltd., a private limited company organized under the laws of
Singapore (together with its Affiliates, “Geyser”);
	 
	 	(ix)	 	Avago Investment Partners, Limited Partnership, a Cayman Island exempted
limited partnership (together with its Affiliates, “Avago Partners”); and
	 
	 	(x)	 	such other Persons, if any, that from time to time become parties hereto
pursuant to Section 6.4 hereof (collectively, together with the Majority Sponsors,
Temasek, Geyser, Integral Capital, Capstone and Avago Partners, the
“Shareholders”).

RECITALS

     WHEREAS, the Company, as of the date hereof, is authorized pursuant to a shareholders’
resolution dated November 19, 2005 to issue 350,000,000 Ordinary Shares, par value S$1.00 per share
(the “Common Shares”).

     WHEREAS, as of or after the date hereof, certain employees of the Company and its Subsidiaries
may purchase Common Shares, or receive options exercisable for Common Shares,

 

 

pursuant to the
Equity Incentive Plan for Executive Employees of Avago Technologies Limited and Subsidiaries, as
amended from time to time according to its terms (the “Management Equity Plan”). With
respect to any Common Shares purchased by such employees under the Management Equity Plan, or any
Common Shares issued to such employees upon exercise of any options granted under the Management
Equity Plan, the holders thereof (and their permitted transferees) (collectively, the
“Management Shareholders”) will be subject to the terms of the Management Shareholder
Agreement (the “Management Shareholder Agreement”).

     WHEREAS, the parties hereto desire for the Company to provide the registration rights set out
in this Agreement. Unless otherwise noted in this Agreement, capitalized terms used herein shall
have the meanings set forth in Section 5.

AGREEMENT

     NOW, THEREFORE, the parties to this Agreement hereby agree as follows:

1. DEMAND REGISTRATIONS.

     1.1. Requests for Registration. At any time prior to the Initial Public Offering, a
Majority Sponsor may initiate the registration of Common Shares to be sold in the Initial Public
Offering; provided such initiation shall require Majority Sponsor Approval. Subject to the
other provisions of Section 1, (a) during the first two (2) years after the Initial Public
Offering, a Majority Sponsor may initiate an unlimited number of registrations of all or part of
their Registrable Securities on Form F-1, Form S-1 or any similar or successor long-form
registration, or foreign equivalent (“Long-Form Registrations”), and, if available, an
unlimited number of registrations of all or part of their Registrable Securities on Form F-2, Form
S-2, Form F-3 or Form S-3 or any similar or successor short-form registration, or foreign
equivalent (“Short-Form Registrations”); provided such initiation shall require
Majority Sponsor Approval, and (b) from and after the second anniversary of the Initial Public
Offering, each Majority Sponsor may (on behalf of itself and any Affiliate of it included in the
term Sponsor) initiate three (3) Long-Form Registrations and, if available, an unlimited number of
Short-Form Registrations; provided in each case that the aggregate gross offering price of
the Registrable Securities requested to be registered in any Demand Registration must equal at
least $50,000,000 in the case of any Long Form Registration and at least $20,000,000 in the case of
any Short Form Registration, or such lesser amount as shall be approved by Majority Sponsor
Approval.

     1.2. Demand Notice. All requests for Demand Registrations shall be made by giving
written notice to the Company (a “Demand Notice”). Each Demand Notice shall specify the
approximate number of Registrable Securities requested to be registered. Within ten days after
receipt of any such Demand Notice, the Company will give written notice of such requested
registration to all other holders of Registrable Securities and, subject to Section 1.5, will
include in such registration (and in all related registrations and qualifications under blue sky
laws or in compliance with other registration requirements and in any related underwriting) all
Registrable Securities with respect to which the Company has received written requests for
inclusion therein within 15 days after the delivery of the Company’s notice.

- 2 -

 

     1.3. Demand Registration Expenses. The Company will pay all Registration Expenses in
connection with any registration initiated as a Demand Registration, whether or not it has become
effective.

     1.4. Short-Form Registrations. Demand Registrations will be Short-Form Registrations
whenever the Company is permitted to use any applicable short-form (unless the managing
underwriter(s) of such offering requests the Company to use a Long-Form Registration in order to
sell all of the Registrable Securities requested to be sold). After the Company has become subject
to the reporting requirements of the Securities Exchange Act, the Company will use its reasonable
efforts to make Short-Form Registrations available for the sale of Registrable Securities. A
Majority Sponsor may, in connection with any Demand Registration requested by such holders that is
a Short-Form Registration, require the Company to file such Short-Form Registration with the
Securities and Exchange Commission in accordance with and pursuant to Rule 415 under the Securities
Act (or any successor rule then in effect) including, if the Company is then eligible, as an
automatic shelf registration statement (any such Short-Form Registration, a “Shelf
Registration”).

     1.5. Priority on Demand Registrations. The Company shall not include in any Demand
Registration any securities which are not Registrable Securities without the prior written consent
of the Majority Sponsors and the prior written consent of any Co-Investor that is unable to sell
all Registrable Securities it requested to be included in such registration pursuant to Section 1.2
hereof. If a Demand Registration is an underwritten offering and the managing underwriter(s)
advises the Company that in its opinion the number of Registrable Securities and, if permitted
hereunder, other securities, requested to be included in such offering exceeds the number of
Registrable Securities and other securities, if any, which can be sold therein without adversely
affecting the marketability of the offering, then the Company shall include in such registration
notwithstanding the initial sentence of this Section 1.5, (a) prior to the inclusion of any
securities that are not Registrable Securities, the number of Registrable Securities requested to
be included in such offering that, in the opinion of such managing underwriter(s), can be sold
without adversely affecting the marketability of the offering, pro rata among the respective
holders thereof, including the Management Shareholders to the extent provided in the Management
Shareholder Agreement on the basis of the number of Registrable Securities owned by each such
holder, provided that if the number of securities that are Registrable Securities that are
included in such offering are less than 80% of the number of securities that are Registrable
Securities requested to be included in such offering, such offering shall not count for purposes of
calculating the number of Long-Form Registrations initiated by a Majority Sponsor, and (b) only
then, securities that are not Registrable Securities, if the managing underwriter(s) has advised
that such securities may be included.

     1.6. Restrictions on Demand Registrations. The Company will not be obligated to
effect any Demand Registration within 90 days after the closing of a Public Offering (other than on
Form F-4, Form S-4 or Form S-8 or any successor or similar form, but including the closing of an
underwritten distribution pursuant to a Shelf Registration). The Company may postpone for up to 30
days in the aggregate the filing (measured from the date of request for such Demand Registration)
or the effectiveness (measured from the first day the registration statement is no longer
effective) of a registration statement for a Demand Registration if and so long as the Company
determines that such Demand Registration would reasonably be expected to have an

- 3 -

 

adverse effect on any proposal or plan by the Company or any of the Subsidiaries to engage in
any material acquisition or disposition of assets (other than in the ordinary course of business)
or any merger, consolidation, tender offer, registration or issuance of securities, financing or
other material transaction. The Company may not postpone a Demand Registration more than two (2)
times in any twelve-month period.

     1.7. Selection of Underwriters. The Majority Sponsor(s) selling Registrable
Securities in a Demand Registration will have the right to select the underwriter or underwriters
to administer the offering, provided that such selection will be subject to the approval of
the board of directors of the Company (the “Board”), which approval will not be
unreasonably withheld.

     1.8. Other Registration Rights. The Company represents and warrants that it is not a
party to, or otherwise subject to, any other agreement granting registration rights to any other
Person with respect to any equity securities of the Company, other than this Agreement and the
Management Shareholder Agreement. Except as provided in this Agreement, the Company shall not
grant to any Person the right to request the Company to register any equity securities of the
Company, or any securities convertible or exchangeable into or exercisable for such securities,
without Majority Sponsor Approval approving the issuance of such securities (such Majority Sponsor
Approval to treat the holders of Registrable Securities pro rata on the basis of the number of
Common Shares owned); provided that without such approval, subject to Section 6.1, (a) the
Company may grant rights to other Persons to participate in Demand Registrations and Piggyback
Registrations so long as such rights are subordinate to the rights of the holders of Registrable
Securities with respect to such Demand Registrations and Piggyback Registrations; and (b) the
Company may grant rights to other Persons to request registrations so long as the holders of
Registrable Securities are entitled to participate in any such registrations with such Persons and
the right of such Persons to participate in such registration are subordinate to the rights of the
holders of Registrable Securities to participate.

2. PIGGYBACK REGISTRATIONS.

     2.1. Right to Piggyback. Whenever the Company proposes to register any of its equity
securities under the Securities Act or equivalent foreign securities laws (other than (a) in the
Initial Public Offering, (b) pursuant to a Demand Registration or (c) in connection with
registration on Form F-4, Form S-4 or Form S-8 or any successor or similar form or foreign
securities law equivalents) and the registration form to be used may be used for the registration
of Registrable Securities (a “Piggyback Registration”), the Company will give prompt
written notice to all holders of Registrable Securities of its intention to effect such a
registration and, subject to Sections 2.3 and 2.4 below, will include in such registration all
Registrable Securities with respect to which the Company has received written requests for
inclusion therein within 15 days after the delivery of the Company’s notice. Each such Company
notice shall specify the approximate number of Company equity securities to be registered and the
anticipated per share price range for such offering.

     2.2. Piggyback Expenses. The Company will pay all Registration Expenses in connection
with all Piggyback Registrations, whether or not any such registration becomes effective.

- 4 -

 

     2.3. Priority on Primary Registrations. For purposes of this Section 2, if a
Piggyback Registration is an underwritten primary registration on behalf of the Company and the
managing underwriter(s) advises the Company that in its opinion the number of securities requested
to be included in such registration exceeds the number which can be sold in such offering without
adversely affecting the marketability of such offering, the Company will include in such
registration: (a) first, the securities the Company proposes to sell and (b) second, the
Registrable Securities and other securities requested to be included in such registration, pro rata
among the holders of such Registrable Securities, including the Management Shareholders to the
extent provided in the Management Shareholder Agreement, and holders of such other securities
permitted to have their securities included in such registration on the basis of the number of
shares owned by each such holder.

     2.4. Priority on Secondary Registrations. For purposes of this Section 2, if a
Piggyback Registration is an underwritten secondary registration on behalf of holders of Company
securities (other than the holders of Registrable Securities), the demand rights of which were
approved by Majority Sponsor Approval pursuant to Section 1.8, and the managing underwriter(s)
advises the Company that in its opinion the number of securities requested to be included in such
registration exceeds the number which can be sold in such offering without adversely affecting the
marketability of the offering, the Company will include in such registration: (a) first, the
securities requested to be included therein by the holders requesting registration, (b) second,
securities requested by the Company to be included in such registration, and (c) third, Registrable
Securities and other securities requested to be included in such registration, pro rata among the
holders of such Registrable Securities, including the Management Shareholders to the extent
provided in the Management Shareholder Agreement, and the holders of such other securities
permitted to have their securities included in such registration on the basis of the number of
shares owned by each such holder.

3. REGISTRATION GENERALLY.

     3.1. Registration Procedures. Whenever the holders of Registrable Securities have
requested that any Registrable Securities be registered pursuant to this Agreement, the Company
will use its best efforts to effect the registration and the sale of such Registrable Securities in
accordance with the intended method of disposition thereof and pursuant thereto the Company will as
expeditiously as reasonably practicable:

          (a) prepare and (within 60 days after the end of the period within which
requests for inclusion in such registration may be given to the Company) file with
the Securities and Exchange Commission a registration statement with respect to such
Registrable Securities and thereafter use its best efforts to cause such
registration statement to become effective; provided that before filing a
registration statement or prospectus or any amendments or supplements thereto, the
Company will furnish to the counsel selected by the Majority Sponsors owning the
Registrable Securities to be included in any Demand Registration copies of all such
documents proposed to be filed, which documents will be subject to review by such
counsel; provided, further, that such counsel shall forward such
documents to the Shareholders participating in such registration, give such
Shareholders an opportunity to comment on such

- 5 -

 

documents and keep such Shareholders reasonably informed in the registration
process;

          (b) prepare and file with the Securities and Exchange Commission such
amendments and supplements to such registration statement and the prospectus used in
connection therewith as may be necessary (i) to keep such registration statement
effective for a period (A) of not less than 180 days (subject to extension pursuant
to Section 3.3(b)) or, if such registration statement relates to an underwritten
offering, such longer period as in the opinion of counsel for the underwriters a
prospectus is required by law to be delivered in connection with sales of
Registrable Securities by an underwriter or dealer, or (B) in the case of a Shelf
Registration, ending on the earlier of (I) the date on which all Registrable
Securities have been sold pursuant to the Shelf Registration or have otherwise
ceased to be Registrable Securities, (II) the second anniversary of the effective
date of such Shelf Registration, (III) such other date determined by the Majority
Sponsors and (IV) when all such Registrable Securities are freely saleable under
Rule 144(k) under the Securities Act, and (ii) to comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such
registration statement until such time as all of such securities have been disposed
of in accordance with the intended methods of disposition by the seller or sellers
thereof set forth in such registration statement;

          (c) cause (i) any issuer free writing prospectus to comply with the information
and legending requirements under paragraph (c) of Rule 433 and to be accompanied or
preceded by a statutory prospectus to the extent required under Rule 433, and (ii)
any free writing prospectus or issuer information contained in a free writing
prospectus required to be filed by the Company with the Securities and Exchange
Commission under paragraph (d) under Rule 433 to be so filed in accordance with such
requirements;

          (d) furnish to each seller of Registrable Securities such number of copies of
such registration statement, each amendment and supplement thereto, the prospectus
included in such registration statement (including each preliminary prospectus),
each free writing prospectus used in connection with such registration and such
other documents as such seller may reasonably request in order to facilitate the
disposition of the Registrable Securities owned by such seller;

          (e) use its best efforts to register or qualify such Registrable Securities
under such other securities or blue sky laws of such United States or foreign
jurisdictions as any seller reasonably requests and do any and all other acts and
things which may be reasonably necessary or advisable to enable such seller to
consummate the disposition in such jurisdictions of the Registrable Securities owned
by such seller (provided that the Company will not be required to (i) qualify
generally to do business in any jurisdiction where it would not otherwise be
required to qualify but for this subsection, (ii) subject itself to

- 6 -

 

taxation in respect of doing business in any such jurisdiction or (iii) consent
to general service of process in any such jurisdiction);

          (f) promptly notify each seller of such Registrable Securities, at any time
when a prospectus relating thereto is required to be delivered under the Securities
Act, upon discovery that, or upon the discovery of the happening of any event as a
result of which, the prospectus included in such registration statement contains an
untrue statement of a material fact or omits any fact necessary to make the
statements therein not misleading in the light of the circumstances under which they
were made, and, at the request of any such seller, the Company will prepare and
furnish to such seller a reasonable number of copies of a supplement or amendment to
such prospectus so that, as thereafter delivered to the prospective purchasers of
such Registrable Securities, such prospectus will not contain an untrue statement of
a material fact or omit to state any fact necessary to make the statements therein
not misleading in the light of the circumstances under which they were made;

          (g) cause all such Registrable Securities to be listed on each securities
exchange on which similar securities issued by the Company are then listed and, if
not so listed, to be listed on the NASD automated quotation system and, if listed on
the NASD automated quotation system, use its best efforts to secure designation of
all such Registrable Securities covered by such registration statement as a “NMS
Security” within the meaning of Rule 600(b)(46) of Regulation NMS of the Securities
and Exchange Commission or, failing that, to secure NASDAQ authorization for such
Registrable Securities and, without limiting the generality of the foregoing, to
arrange for at least two market makers to register as such with respect to such
Registrable Securities with the NASD;

          (h) provide a transfer agent and registrar for all such Registrable Securities
not later than the effective date of such registration statement;

          (i) enter into such customary agreements (including underwriting agreements in
customary form) and take all such other actions as the Majority Sponsors owning the
Registrable Securities to be included in the registration or the underwriters, if
any, reasonably request in order to expedite or facilitate the disposition of such
Registrable Securities (which might include effecting a share split or a combination
of shares);

          (j) make available for inspection by any seller of Registrable Securities, any
underwriter participating in any disposition pursuant to such registration statement
and any attorney, accountant or other agent retained by any such seller or
underwriter, all financial and other records, pertinent corporate documents and
properties of the Company, and cause the Company’s officers, directors, employees
and independent accountants to supply all information reasonably requested by any
such seller, underwriter, attorney, accountant or agent in connection with such
registration statement, and to cooperate and

- 7 -

 

participate as reasonably requested by any such seller in road show
presentations, in the preparation of the registration statement, each amendment and
supplement thereto, the prospectus included therein, and other activities as such
seller may reasonably request in order to facilitate the disposition of the
Registrable Securities owned by such seller;

          (k) otherwise use its best efforts to comply with all applicable rules and
regulations of the Securities and Exchange Commission, and make available to its
security holders, as soon as reasonably practicable, but not later than 18 months
after the effective date of the registration statement, an earnings statement
covering the period of at least twelve months beginning with the first day of the
Company’s first full calendar quarter after the effective date of the registration
statement, which earnings statement shall satisfy the provisions of Section 11(a) of
the Securities Act and Rule 158 thereunder;

          (l) in the event of the issuance of any stop order suspending the effectiveness
of a registration statement, or of any order suspending or preventing the use of any
related prospectus or suspending the qualification of any Securities included in
such registration statement for sale in any jurisdiction, the Company will use its
reasonable best efforts promptly to obtain the withdrawal of such order;

          (m) obtain one or more comfort letters, dated the effective date of such
registration statement (and, if such registration includes an underwritten public
offering, dated the date of the closing under the underwriting agreement), signed by
the Company’s independent registered public accounting firm in the then-current
customary form and covering such matters of the type customarily covered from time
to time by comfort letters as the holders of a majority of the Registrable
Securities being sold reasonably request;

          (n) provide a legal opinion of the Company’s outside counsel, dated the
effective date of such registration statement (and, if such registration includes an
underwritten public offering, dated the date of the closing under the underwriting
agreement), with respect to the registration statement, each amendment and
supplement thereto, the prospectus included therein (including the preliminary
prospectus) and such other documents relating thereto in the then-current customary
form and covering such matters of the type customarily covered from time to time by
legal opinions of such nature (in a form reasonably acceptable to the holders of a
majority of the Registrable Securities included in the registration);

          (o) cooperate with the sellers of Registrable Securities covered by the
registration statement and the managing underwriter or agent, if any, to facilitate
the timely preparation and delivery of certificates (not bearing any restrictive
legends) representing securities to be sold under the registration statement, and
enable such securities to be in such denominations and registered

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in such names as the managing underwriter or agent, if any, or such holders may
request;

          (p) notify counsel for the sellers of Registrable Securities included in such
registration statement and the managing underwriter or agent, immediately, and
confirm the notice in writing (i) when the registration statement, or any
post-effective amendment to the registration statement, shall have become effective,
or any supplement to the prospectus or any amendment prospectus shall have been
filed, (ii) of the receipt of any comments from the Securities and Exchange
Commission, (iii) of any request of the Securities and Exchange Commission to amend
the registration statement or amend or supplement the prospectus or for additional
information, and (iv) of the issuance by the Securities and Exchange Commission of
any stop order suspending the effectiveness of the registration statement or of any
order preventing or suspending the use of any preliminary prospectus, or of the
suspension of the qualification of the registration statement for offering or sale
in any jurisdiction, or of the institution or threatening of any proceedings for any
of such purposes;

          (q) use its reasonable effort to prevent the issuance of any stop order
suspending the effectiveness of the registration statement or of any order
preventing or suspending the use of any preliminary prospectus and, if any such
order is issued, to obtain the withdrawal of any such order at the earliest possible
moment;

          (r) if requested by the managing underwriter or agent or any holder of
Registrable Securities covered by the registration statement, promptly incorporate
in a prospectus supplement or post-effective amendment such information as the
managing underwriter or agent or such holder reasonably requests to be included
therein, including, without limitation, with respect to the number of Registrable
Securities being sold by such holder to such underwriter or agent, the purchase
price being paid therefor by such underwriter or agent and with respect to any other
terms of the underwritten offering of the Registrable Securities to be sold in such
offering; and make all required filings of such prospectus supplement or
post-effective amendment as soon as practicable after being notified of the matters
incorporated in such prospectus supplement or post-effective amendment;

          (s) cooperate with each seller of Registrable Securities and each underwriter
or agent participating in the disposition of such Registrable Securities and their
respective counsel in connection with any filings required to be made with the
National Association of Securities Dealers, Inc.; and

          (t) cause its appropriate officers to attend and participate in presentations
to and meetings with prospective purchasers of the Registrable Securities, or a
“roadshow”, as reasonably requested by the underwriters, if any.

- 9 -

 

The Company may require each seller of Registrable Securities as to which any registration is being
effected to furnish the Company such information relating to the sale or registration of such
Securities regarding such seller and the distribution of such securities as the Company may from
time to time reasonably request in writing.

     3.2. Registration Expenses.

          (a) All expenses incident to the Company’s performance of or compliance with
this Agreement, including, without limitation, all registration, qualification and
filing fees, fees and expenses of compliance with securities or blue sky laws,
printing expenses, messenger and delivery expenses, and fees and disbursements of
counsel for the Company and all independent certified public accountants,
underwriters (excluding discounts and commissions) and other Persons retained by the
Company (all such expenses being herein called “Registration Expenses”),
will be paid by the Company in respect of each Demand Registration and each
Piggyback Registration, whether or not it has become effective, including that the
Company will pay its internal expenses (including, without limitation, all salaries
and expenses of its officers and employees performing legal or accounting duties),
the expense of any annual audit or quarterly review, the expense of any liability
insurance and the expenses and fees for listing the securities to be registered on
each securities exchange on which similar securities issued by the Company are then
listed or on the NASD automated quotation system or any other quotation system.

          (b) In connection with each Demand Registration and each Piggyback
Registration, whether or not it has become effective, the Company will pay, and
reimburse the holders of Registrable Securities covered by such registration for the
payment of, the reasonable fees and disbursements of one counsel chosen by the
holders of a majority of the Registrable Securities included in such registration,
and such expenses shall be considered Registration Expenses hereunder.

     3.3. Participation in Underwritten Offerings.

          (a) No Person may participate in any registration hereunder which is
underwritten unless such Person (i) agrees to sell such Person’s securities on the
basis provided in any underwriting arrangements approved by the Person or Persons
entitled hereunder to approve such arrangements (including, without limitation,
pursuant to the terms of any over-allotment or “green shoe” option requested by the
managing underwriter(s), provided that no holder of Registrable Securities will be
required to sell more than the number of Registrable Securities that such holder has
requested the Company to include in any registration) and (ii) completes and
executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such
underwriting arrangements.

- 10 -

 

          (b) Each Person that is participating in any registration hereunder agrees
that, upon receipt of any notice from the Company of the happening of any event of
the kind described in Section 3.1(f) above, such Person will forthwith discontinue
the disposition of its Registrable Securities pursuant to the registration statement
until such Person’s receipt of the copies of a supplemented or amended prospectus as
contemplated by such Section 3.1(f). In the event the Company shall give any such
notice, the applicable time period mentioned in Section 3.1(b) during which a
Registration Statement is to remain effective shall be extended by the number of
days during the period from and including the date of the giving of such notice
pursuant to this paragraph to and including the date when each seller of a
Registrable Security covered by such registration statement shall have received the
copies of the supplemented or amended prospectus contemplated by Section 3.1(f).

     3.4. Holdback Agreements.

     3.4.1. Securityholder Holdback. To the extent not inconsistent with applicable
law, each holder of Registrable Securities shall not offer, sell, contract to sell, pledge,
grant any option to purchase, make any short sale or otherwise dispose of any Common Shares,
or any options or warrants to purchase any Common Shares, or any securities convertible
into, exchangeable for or that represent the right to receive Common Shares, whether now
owned or hereinafter acquired, owned directly by the holder (including holding as a
custodian) or with respect to which the holder has beneficial ownership within the rules and
regulations of the Securities and Exchange Commission, during (a) with respect to the
Initial Public Offering, the seven days prior to and the 180-day period beginning on the
effective date of such Initial Public Offering, (b) with respect to any other underwritten
Demand Registration or any underwritten Piggyback Registration in which Registrable
Securities are included, the seven days (or such shorter period as shall be acceptable to
the underwriters in such offering) prior to and the 90-day period beginning on the effective
date of such registration, and (c) upon notice from the Company of the commencement of an
underwritten distribution in connection with any Shelf Registration, the seven days (or such
shorter period as shall be acceptable to the underwriters in such offering) prior to and the
90-day period beginning on the date of commencement of such distribution, in each case
except as part of such underwritten registration, and in each case unless the underwriters
managing the registered public offering otherwise agree (in each case, such period, the
“Lock-Up Period”); provided, however, if (i) during the period that
begins on the date that is 15 calendar days plus three Business Days before the last day of
the Lock-Up Period and ends on the last day of the Lock-Up Period, the Company issues an
earnings release or material news or a material event relating to the Company occurs, or
(ii) prior to the expiration of the Lock-Up Period, the Company announces that it will
release earnings results during the 16 day period beginning on the last day of the Lock-Up
Period, the restrictions imposed shall continue to apply until the expiration of the date
that is 15 calendar days plus three Business Days after the date on which the issuance of
the earnings release or the material news or material event occurs. Any waiver by the
underwriters of the foregoing restrictions on transfers by the holders shall be granted to
all holders on equal terms.

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     3.4.2. Company Holdback. The Company shall not offer, sell, contract to sell
or otherwise dispose of any securities of the Company that are substantially similar to the
Common Shares, including but not limited to any securities that are convertible into or
exchangeable for, or that represent the right to receive, Common Shares or any such
substantially similar securities, during (a) with respect to the Initial Public Offering,
the seven days prior to and the 180-day period beginning on the effective date of such
Initial Public Offering, (b) with respect to any other underwritten Demand Registration or
any underwritten Piggyback Registration in which Registrable Securities are included, the
seven days prior to and the 90-day period beginning on the effective date of such
registration, and (c) upon notice from any holder(s) of Registrable Securities subject to a
Shelf Registration that such holder(s) intend to effect an underwritten distribution of
Registrable Securities pursuant to such Shelf Registration (upon receipt of which, the
Company will promptly notify all other holders of Registrable Securities of the date of the
commencement of such distribution), the seven days prior to and the 90-day period beginning
on the date of the commencement of such distribution, in each case except as part of such
underwritten registration or pursuant to registrations on Form F-4, Form S-4 or Form S-8,
and in each case unless the underwriters managing the registered public offering otherwise
agree.

     3.5. Current Public Information. At all times after the Company has filed a
registration statement with the Securities and Exchange Commission pursuant to the requirements of
either the Securities Act or the Securities Exchange Act, the Company will use its reasonable
efforts to timely file all reports required to be filed by it under the Securities Act and the
Securities Exchange Act and the rules and regulations adopted by the Securities and Exchange
Commission thereunder, and will take such further action as any holder or holders of Registrable
Securities may reasonably request, all to the extent required to enable such holders to sell
Registrable Securities pursuant to Rule 144 adopted by the Securities and Exchange Commission under
the Securities Act (as such rule may be amended from time to time) or any similar rule or
regulation hereafter adopted by the Securities and Exchange Commission.

4. INDEMNIFICATION.

     4.1. Indemnification by the Company. The Company agrees to indemnify and hold
harmless, to the fullest extent permitted by law, each holder of Registrable Securities and, as
applicable, its officers, directors, trustees, employees, shareholders, holders of beneficial
interests, members, and general and limited partners (collectively, such holder’s
“Indemnitees”) and each Person who controls such holder (within the meaning of the
Securities Act) against any and all losses, claims, damages, liabilities, joint or several, to
which such holder or any such Indemnitee may become subject under the Securities Act, equivalent
foreign securities laws or otherwise, insofar as such losses, claims, damages or liabilities (or
actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are
based upon (a) any untrue or alleged untrue statement of material fact contained in any
registration statement, prospectus, preliminary prospectus or free writing prospectus or any
amendment thereof or supplement thereto, together with any documents incorporated therein by
reference or, (b) any omission or alleged omission of a material fact required to be stated therein
or necessary to make the statements therein not misleading, and the Company will reimburse such
holder and each of its Indemnitees for any legal or any other expenses, including any amounts paid
in any settlement

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effected with the consent of the Company, which consent will not be unreasonably withheld or
delayed, incurred by them in connection with investigating or defending any such loss, claim,
liability, action or proceeding; provided, however, that the Company shall not be
liable in any such case to the extent that any such loss, claim, damage, liability (or action or
proceeding in respect thereof) or expense arises out of or is based upon an untrue statement or
alleged untrue statement, or omission or alleged omission, made in such registration statement, any
such prospectus, preliminary prospectus or free writing prospectus or any amendment or supplement
thereto, or in any application, in reliance upon, and in conformity with, written information
prepared and furnished to the Company by such holder expressly for use therein. In connection with
an underwritten offering, the Company will indemnify such underwriters, their officers and
directors and each Person who controls such underwriters (within the meaning of the Securities Act)
to the same extent as provided above with respect to the indemnification of the holders of
Registrable Securities.

     4.2. Indemnification by Holders of Registrable Securities. In connection with any
registration statement in which a holder of Registrable Securities is participating, each such
holder will furnish to the Company in writing such information and affidavits as the Company
reasonably requests for use in connection with any such registration statement, prospectus or free
writing prospectus, and, to the extent permitted by law, will indemnify and hold harmless the
Company and its Indemnitees against any losses, claims, damages or liabilities, joint or several,
to which the Company or any such Indemnitee may become subject under the Securities Act, equivalent
foreign securities laws or otherwise, insofar as such losses, claims, damages or liabilities (or
actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are
based upon (a) any untrue or alleged untrue statement of material fact contained in the
registration statement, prospectus, preliminary prospectus or free writing prospectus or any
amendment thereof or supplement thereto or in any application, together with any documents
incorporated therein by reference or (b) any omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements therein not misleading, but only
to the extent that such untrue statement (or alleged untrue statement) or omission (or alleged
omission) is made in such registration statement, any such prospectus, preliminary prospectus or
free writing prospectus or any amendment or supplement thereto, or in any application, in reliance
upon and in conformity with written information prepared and furnished to the Company by such
holder expressly for use therein, and such holder will reimburse the Company and each such
Indemnitee for any legal or any other expenses including any amounts paid in any settlement
effected with the consent of such holder, which consent will not be unreasonably withheld or
delayed, incurred by them in connection with investigating or defending any such loss, claim,
liability, action or proceeding; provided, however, in no event shall the liability
of any selling holder hereunder (together with any liability of such holder under any similar
provision contained in any applicable underwriting agreement) be greater in amount than the amount
by which the total price at which the Registrable Securities of such holder were offered to the
public (less underwriters’ discount and commissions) exceeds the total amount of any damages which
such holder has otherwise been required to pay by reason of any untrue or alleged untrue statement
or omission or alleged omission of such holder in connection with such offering.

     4.3. Procedure. Any Person entitled to indemnification hereunder will (a) give prompt
written notice to the indemnifying party of any claim with respect to which it seeks

- 13 -

 

indemnification (provided, however, that the failure of any indemnified party
to give such notice shall not relieve the indemnifying party of its obligations hereunder, except
to the extent that the indemnifying party is actually prejudiced by such failure to give such
notice), and (b) unless in such indemnified party’s reasonable judgment a conflict of interest
between such indemnified and indemnifying parties may exist with respect to such claim, permit such
indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the
indemnified party. If such defense is assumed, the indemnifying party will not be subject to any
liability for any settlement made by the indemnified party without its consent (but such consent
will not be unreasonably withheld or delayed). An indemnifying party who is not entitled to, or
elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of
more than one counsel for all parties indemnified by such indemnifying party with respect to such
claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist
between such indemnified party and any other of such indemnified parties with respect to such
claim.

     4.4. Entry of Judgment; Settlement. The indemnifying party shall not, except with the
approval of each indemnified party, consent to entry of any judgment or enter into any settlement
which does not include as an unconditional term thereof the giving by the claimant or plaintiff to
each indemnified party of a release from all liability in respect to such claim or litigation
without any payment or consideration provided by such indemnified party.

     4.5. Contribution. If the indemnification provided for in this Section 4 is, other
than expressly pursuant to its terms, unavailable to or is insufficient to hold harmless an
indemnified party under the provisions above in respect of any losses, claims, damages or
liabilities referred to therein, then each indemnifying party shall contribute to the amount paid
or payable by such indemnified party as a result of such losses, claims, damages or liabilities (a)
in such proportion as is appropriate to reflect the relative benefits received by the Company on
the one hand and the sellers of Registrable Securities and any other sellers participating in the
registration statement on the other hand from the sale of Registrable Securities pursuant to the
registered offering of securities as to which indemnity is sought or (b) if the allocation provided
by clause (a) above is not permitted by applicable law, in such proportion as is appropriate to
reflect the relative benefits referred to in clause (a) above but also the relative fault of the
Company on the one hand and of the sellers of Registrable Securities and any other sellers
participating in the registration statement on the other hand in connection with the statement or
omissions which resulted in such losses, claims, damages or liabilities, as well as any other
relevant equitable considerations. The relative benefits received by the Company on the one hand
and the sellers of Registrable Securities and any other sellers participating in the registration
statement on the other hand shall be deemed to be in the same proportion as the total net proceeds
from the offering (before deducting expenses) to the Company bear to the total net proceeds from
the offering (before deducting expenses) to the sellers of Registrable Securities and any other
sellers participating in the registration statement. The relative fault of the Company on the one
hand and of the sellers of Registrable Securities and any other sellers participating in the
registration statement on the other hand shall be determined by reference to, among other things,
whether the untrue or alleged omission to state a material fact relates to information supplied by
the Company or by the sellers of Registrable Securities or other sellers participating in the
registration statement and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The obligation to provide
contribution will be individual (and not

- 14 -

 

joint and several) to each holder and will be limited to the net amount of proceeds received
by such holder from the sale of Registrable Securities pursuant to such registration statement,
less any other amounts paid by such holder, including pursuant to Section 4.2 hereof, in respect of
such untrue statement, alleged untrue statement, omission or alleged omission.

The Company and the sellers of Registrable Securities agree that it would not be just and equitable
if contribution pursuant to this Section 4 were determined by pro rata allocation (even if the
sellers of Registrable Securities were treated as one entity for such purpose) or by any other
method of allocation which does not take account of the equitable considerations referred to in the
immediately preceding paragraph. The amount paid or payable by an indemnified party as a result of
the losses, claims, damages and liabilities referred to in the immediately preceding paragraph
shall be deemed to include, subject to the limitations set forth above, any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating or defending any
such action or claim. Notwithstanding the provisions of this Section 4, in no event shall any
selling holder hereunder be required to contribute (together with any contribution or other
liability of such holder under any similar provision contained in any applicable underwriting
agreement) an amount that is greater than the amount by which the total price at which the
Registrable Securities of such holder were offered to the public (less underwriters’ discount and
commissions) exceeds the total amount of any damages which such holder has otherwise been required
to pay by reason of any untrue or alleged untrue statement or omission or alleged omission of such
holder in connection with such offering. No person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any
person who was not guilty of such fraudulent misrepresentation.

     4.6. Other Rights. The indemnification and contribution by any such party provided
for under this Agreement shall be in addition to any other rights to indemnification or
contribution which any indemnified party may have pursuant to law or contract and will remain in
full force and effect regardless of any investigation made or omitted by or on behalf of the
indemnified party or any officer, director or controlling Person of such indemnified party and will
survive the transfer of securities.

5. DEFINITIONS.

     “Affiliate” means, with respect to any Person, (i) any other Person which directly or
indirectly through one or more intermediaries controls, or is controlled by, or is under common
control with, such Person (for the purposes of this definition, “control” (including, with
correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as
used with respect to any Person, means the possession, directly or indirectly, of the power to
direct or cause the direction of the management or policies of such Person, whether through the
ownership of voting securities, by agreement or otherwise); provided, however, that
neither the Company nor any of its Subsidiaries shall be deemed an Affiliate of any of the
Shareholders (and vice versa) and none of the Shareholders shall be deemed Affiliates of each other
solely as a result of their relationship with respect to the Company; provided,
further, neither Integral Capital nor Capstone shall be deemed to be an Affiliate of any of
Silver Lake, Avago Partners or KKR, (ii) if such Person is an investment fund, any other investment
fund the primary investment advisor to which is the primary investment advisor to such Person or an
Affiliate thereof and (iii) if such Person is a natural Person, any Family Member of such
natural Person.

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     “Agreement” shall have the meaning set forth in the Preamble.

     “Amendment” shall have the meaning set forth in Section 6.3.

     “automatic shelf registration statement” has the meaning set forth in Rule 405 under
the Securities Act.

     “Avago Partners” has the meaning set forth in the Preamble.

     “Board” shall have the meaning set forth in Section 1.7.

     “Business Day” shall mean any day that is not a Saturday, a Sunday or other day on
which banks are required or authorized by law to be closed in Singapore.

     “Capstone” has the meaning set forth in the Preamble.

     “Common Shares” shall have the meaning set forth in the Recitals.

     “Company” shall have the meaning set forth in the Preamble.

     “Demand Notice” shall have the meaning set forth in Section 1.2.

     “Demand Registrations” means Long-Form Registrations and Short-Form Registrations
requested pursuant to Section 1.1.

     “Effective Date” shall have the meaning set forth in the Preamble.

     “Family Member” means, with respect to any natural Person, such Person’s spouse and
descendants (whether or not adopted) and any trust, family limited partnership or limited liability
company that is and remains at all times solely for the benefit of such Person’s spouse and/or
descendants.

     “free writing prospectus” has the meaning ascribed to such term under Rule 405 under
the Securities Act.

     “Geyser” has the meaning set forth in the Preamble.

     “Indemnitees” shall have the meaning set forth in Section 4.1.

     “Integral Capital” has the meaning set forth in the Preamble.

     “Initial Public Offering” means the initial firm underwritten Public Offering
registered under the Securities Act or equivalent foreign securities laws (other than a
registration statement on Form F-4, Form S-4 or Form S-8 (or any similar or successor form) or
foreign securities laws equivalents thereof).

     “issuer free writing prospectus” has the meaning ascribed to such term under Rule
433(h) under the Securities Act.

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     “KKR” shall have the meaning set forth in the Preamble.

     “Lock-Up Period” shall have the meaning set forth in Section 3.4.1.

     “Long-Form Registrations” shall have the meaning set forth in Section 1.1.

     “Luxco” shall mean Bali Investments S.à r.l., a company organized under the laws of
Luxembourg.

     “Majority Sponsor” has the meaning set forth in the Preamble.

     “Majority Sponsor Approval” means the written approval of KKR and Silver Lake.

     “Management Equity Plan” shall have the meaning set forth in the Recitals.

     “Management Shareholders” shall have the meaning set forth in the Recitals.

     “Management Shareholder Agreement” shall have the meaning set forth in the Recitals.

     “Person” means an individual, a partnership, a joint venture, a corporation, a limited
liability company, a trust, an unincorporated organization and a government or any department or
agency thereof.

     “Permitted Transferee” shall mean, with respect to any Shareholder, an Affiliate of
such Shareholder (other than, in the case of any investment fund Shareholder, any “portfolio
company” of such Shareholder or any entity controlled by any portfolio company of such
Shareholder).

     “Piggyback Registration” shall have the meaning set forth in Section 2.1.

     “Public Offering” means a public offering and sale of Common Shares pursuant to an
effective registration statement under the Securities Act and/or in compliance with equivalent
applicable foreign securities laws.

     “Registrable Securities” means (i) any Common Share issued to any Shareholder (or any
Affiliate thereof) as of the Effective Date or thereafter acquired, including upon conversion of
the Company’s Convertible Redeemable Preferred Shares by any Shareholder, (ii) any equity
securities issued or issuable directly or indirectly with respect to any of the foregoing
securities referred to in clause (i) by way of share dividend or share split or in connection with
a combination of shares, recapitalization, merger, consolidation or other reorganization, and (iii)
with respect to any particular registration hereunder, any securities held by a Management
Shareholder that are entitled to participate in such registration pursuant to the terms of the
Management Shareholder Agreement. As to any particular shares constituting Registrable Securities,
such shares will cease to be Registrable Securities when they have been (x) effectively registered
under the Securities Act and disposed of in accordance with the registration
statement covering them, or (y) sold to the public pursuant to Rule 144 under the Securities
Act or sold in a block sale to a financial institution in the ordinary course of its trading
business. For purposes of this Agreement, a Person will be deemed to be a holder of Registrable
Securities whenever such Person has the right to acquire directly or indirectly such Registrable
Securities

- 17 -

 

(upon conversion or exercise in connection with a transfer of securities or otherwise,
but disregarding any restrictions or limitations upon the exercise of such right), whether or not
such acquisition has actually been effected.

     “Registration Expenses” shall have the meaning set forth in Section 3.2.

     “Rule 433” means Rule 433 under the Securities Act or any successor federal law then
in force.

     “Securities Act” means the United States Securities Act of 1933, as amended, or any
successor federal law then in force.

     “Securities and Exchange Commission” means the United States Securities and Exchange
Commission and any governmental body or agency succeeding to the functions thereof.

     “Securities Exchange Act” means the United States Securities Exchange Act of 1934, as
amended, or any successor federal law then in force.

     “Shareholders” shall have the meaning set forth in the Preamble.

     “Shareholder Agreement” means that certain Shareholder Agreement, dated as of the
Effective Date, among the Company and the Shareholders, as amended from time to time in accordance
with its terms.

     “Shelf Registration” shall have the meaning set forth in Section 1.4.

     “Short-Form Registrations” shall have the meaning set forth in Section 1.1.

     “Silver Lake” shall have the meaning set forth in the Preamble.

     “SLP Cayman” shall have the meaning set forth in the Preamble.

     “Temasek” has the meaning set forth in the Preamble.

     “Transfer” shall mean any sale, pledge, assignment, encumbrance or other transfer or
disposition of any shares of Registrable Securities to any other Person, whether directly,
indirectly, voluntarily, involuntarily, by operation of law, pursuant to judicial process or
otherwise.

6. MISCELLANEOUS.

     6.1. No Inconsistent Agreements; Foreign Registration. The Company will not hereafter
enter into any agreement with respect to its securities which is inconsistent with or violates the
rights granted to the holders of Registrable Securities in this Agreement. In the
event the Board and the Majority Sponsor approve a public offering or a sale of the Common
Shares of the Company (or other securities representing, or exercisable for or convertible into,
common shares) pursuant to the securities laws of a country other than the United States of
America, the Board shall have the power to amend this Agreement in such manner as it shall

- 18 -

 

deem
reasonably necessary to ensure that the provisions of this Agreement will apply in as close to the
same manner as possible under such foreign securities laws, and to otherwise preserve and give
effect to the rights of the parties hereto.

     6.2. Remedies. The parties hereto agree and acknowledge that money damages may not be
an adequate remedy for any breach of the provisions of this Agreement and that, in addition to any
other rights and remedies at law or in equity existing in its favor, any party shall be entitled to
specific performance and/or other injunctive relief from any court of law or equity of competent
jurisdiction (without posting any bond or other security) in order to enforce or prevent violation
of the provisions of this Agreement.

     6.3. Amendment and Waiver. Except as otherwise provided herein, this Agreement may be
amended, modified, extended or terminated, and the provisions hereof may be waived, only by an
agreement in writing signed by the Company and each Majority Sponsor that holds Registrable
Securities; provided, however, that the admission of new parties pursuant to the
terms of Section 6.4 shall not constitute an amendment of this Agreement for purposes of this
Section 6.3. Notwithstanding the foregoing, if any amendment, modification, extension, termination
or waiver (an “Amendment”) would treat or have the effect of treating in their capacity as
Shareholders any Shareholder or group of Shareholders in a manner different from, and materially
adverse relative to, the Majority Sponsors voting in favor of such Amendment, then such Amendment
will require the prior written consent of the Shareholder or Shareholders holding a majority of the
Registrable Securities of such group adversely treated. Each such Amendment shall be binding upon
each party hereto and each Shareholder subject hereto. In addition, each party hereto and each
Shareholder subject hereto may waive any right hereunder, as to itself, by an instrument in writing
signed by such party or Shareholder. The failure of any party to enforce any provisions of this
Agreement shall in no way be construed as a waiver of such provisions and shall not affect the
right of such party thereafter to enforce each and every provision of this Agreement in accordance
with its terms. To the extent the Amendment of any Section of this Agreement would require a
specific consent pursuant to this Section 6.3, any Amendment to definitions to the extent used in
such Section shall also require the specified consent.

     6.4. Successors and Assigns; Transferees. This Agreement shall be binding upon and
inure to the benefit of and be enforceable by the parties hereto and their respective successors
and assigns. Registrable Securities shall continue to be Registrable Securities after any Transfer
(except if such securities were effectively registered under the Securities Act and disposed of in
accordance with the registration statement covering them, sold to the public pursuant to Rule 144
under the Securities Act or sold in a block sale to a financial institution in the ordinary course
of its trading business). Any transferee receiving shares of Registrable Securities in a Transfer
effected in compliance with the terms of the Shareholder Agreement shall become a Shareholder,
party to this Agreement and subject to the terms and conditions of, and be entitled to enforce,
this Agreement to the same extent, and in the same capacity, as the Person that Transfers such
Registrable Securities to such transferee; provided that only a Permitted Transferee of a
Majority Sponsor will be deemed to be a Majority Sponsor for purposes of this Agreement. For the
avoidance of doubt, any transferee receiving Registrable Securities in a Transfer that is not a
Majority Sponsor or a Permitted Transferee of a Majority Sponsor or its Affiliates will become a
party to this Agreement without the benefit of the right to initiate Demand Registrations or other

- 19 -

 

rights afforded to the Majority Sponsors hereunder. Prior to the Transfer of any Registrable
Securities to any transferee, and as a condition thereto, each Shareholder effecting such Transfer
shall (a) cause such transferee to deliver to the Company and each of the Shareholders its written
agreement, in form and substance reasonably satisfactory to the Company, to be bound by the terms
and conditions of this Agreement to the extent described in the preceding sentence and (b) if such
Transfer is to a Permitted Transferee, remain directly liable for the performance by such Permitted
Transferee of all obligations of such transferee under this Agreement.

     6.5. Severability. Whenever possible, each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be invalid, illegal or unenforceable in any respect under any
applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall
not affect any other provision or the effectiveness or validity of any provision in any other
jurisdiction, and this Agreement shall be reformed, construed and enforced in such jurisdiction as
if such invalid, illegal or unenforceable provision had never been contained herein.

     6.6. Counterparts. This Agreement may be executed in separate counterparts, each of
which shall be an original and all of which taken together shall constitute one and the same
Agreement.

     6.7. Descriptive Headings. The descriptive headings of this Agreement are inserted
for convenience only and do not constitute a part of this Agreement.

     6.8. Notices. Any and all notices or other communications or deliveries required or
permitted to be provided hereunder shall be in writing and shall be deemed given, delivered and
effective on the earliest of (i) the date of receipt of confirmation of transmission, if such
notice or communication is delivered via facsimile at the facsimile telephone number specified in
this Section 6.8 prior to 5:00 p.m. (Singapore time) on a Business Day, (ii) the Business Day after
the date of receipt of confirmation of transmission, if such notice or communication is delivered
via facsimile at the facsimile telephone number specified in this Agreement later than 5:00 p.m.
(Singapore time) on any Business Day and earlier than 11:59 p.m. (Singapore time) on the day
preceding the next Business Day, (iii) one (1) Business Day after when sent, if sent by nationally
recognized overnight courier service (charges prepaid), (iv) the date of receipt of a non-automated
reply email confirming receipt, if sent via email, or (v) upon actual receipt by the party to whom
such notice is required to be given. The address for such notices and communications shall be as
follows (or such other address as any such Party may designate by written notice to the other
parties):

     If to the Company:

	 	 	 	 	 
	 	 	Avago Technologies Limited

No. 1 Yishun Avenue 7

Singapore 768923

Singapore
	 

	 	Facsimile:
	 	(408) 435-4288
	 

	 	Attention:
	 	Dick M. Chang and Rex Jackson
	 

	 	E-mail:
	 	dick.chang@avagotech.com and rex.jackson@avagotech.com

- 20 -

 

     with a copy to:

	 	 	 	 	 
	 	 	Kohlberg Kravis Roberts & Co.

2800 Sand Hill Road, Suite 200

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 233-6574 and (650) 233-6548
	 

	 	Attention:
	 	James H. Greene Jr. and Adam A. Clammer
	 

	 	E-mail:
	 	jgreene@kkr.com and adam@kkr.com

     and with a copy to:

	 	 	 	 	 
	 	 	Silver Lake Partners

2725 Sand Hill Road, Suite 150

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 234-2593
	 

	 	Attention:
	 	Alan K. Austin, Managing Director and Chief Operating Officer,
and Yolande Jun, Chief Financial Officer
	 

	 	E-mail:
	 	alan.austin@silverlake.com and yolande.jun@silverlake.com

     and with a copy to:

	 	 	 	 	 
	 	 	Latham & Watkins LLP

135 Commonwealth Drive

Menlo Park, CA 94025
	 

	 	Facsimile:
	 	(650) 463-2600
	 

	 	Attention:
	 	Peter F. Kerman
	 

	 	E-mail:
	 	peter.kerman@lw.com

     If to Luxco:

	 	 	 	 	 
	 	 	Bali Investments S.à r.l.

9, rue Schiller

L-2519 Luxembourg

Luxembourg
	 

	 	Facsimile:
	 	+352 466 234
	 

	 	Attention:
	 	Susanne Th. Kortekaas
	 

	 	E-mail:
	 	susanne.kortekas@loyens.com

     with a copy to:

	 	 	 	 	 
	 	 	Kohlberg Kravis Roberts & Co.

2800 Sand Hill Road, Suite 200

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 233-6574 and (650) 233-6548
	 

	 	Attention:
	 	James H. Greene Jr. and Adam A. Clammer
	 

	 	E-mail:
	 	jgreene@kkr.com and adam@kkr.com

- 21 -

 

     and with a copy to:

	 	 	 	 	 
	 	 	Silver Lake Partners

2725 Sand Hill Road, Suite 150

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 234-2593
	 

	 	Attention:
	 	Alan K. Austin, Managing Director and Chief Operating Officer,
and Yolande Jun, Chief Financial Officer
	 

	 	E-mail:
	 	alan.austin@silverlake.com and yolande.jun@silverlake.com

     and with a copy to:

	 	 	 	 	 
	 	 	Latham & Watkins LLP

135 Commonwealth Drive

Menlo Park, CA 94025
	 

	 	Facsimile:
	 	(650) 463-2600
	 

	 	Attention:
	 	Peter F. Kerman
	 

	 	E-mail:
	 	peter.kerman@lw.com

     If to Avago Partners:

	 	 	 	 	 
	 	 	Avago Investment Partners, Limited Partnership

c/o Walkers SPV Limited

PO Box 908GT

George Town, Grand Cayman

Cayman Islands
	 

	 	Facsimile:
	 	(345) 814-8217
	 

	 	Attention:
	 	Iain McMurdo
	 

	 	E-mail:
	 	imcmurdo@walkers.com.ky

     with a copy to:

	 	 	 	 	 
	 	 	Kohlberg Kravis Roberts & Co.

2800 Sand Hill Road, Suite 200

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 233-6574 and (650) 233-6548
	 

	 	Attention:
	 	James H. Greene Jr. and Adam A. Clammer
	 

	 	E-mail:
	 	jgreene@kkr.com and adam@kkr.com

     and with a copy to:

	 	 	 	 	 
	 	 	Silver Lake Partners

2725 Sand Hill Road, Suite 150

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 234-2593
	 

	 	Attention:
	 	Alan K. Austin, Managing Director and Chief Operating Officer,
and Yolande Jun, Chief Financial Officer
	 

	 	E-mail:
	 	alan.austin@silverlake.com and yolande.jun@silverlake.com

- 22 -

 

     and with a copy to:

	 	 	 	 	 
	 	 	Latham & Watkins LLP

135 Commonwealth Drive

Menlo Park, CA 94025
	 

	 	Facsimile:
	 	(650) 463-2600
	 

	 	Attention:
	 	Peter F. Kerman
	 

	 	E-mail:
	 	peter.kerman@lw.com

     If to Silver Lake:

	 	 	 	 	 
	 	 	Silver Lake Partners II Cayman and

Silver Lake Technology Investors II Cayman

c/o Walkers SPV Limited

PO Box 908GT

George Town, Grand Cayman

Cayman Islands
	 

	 	Facsimile:
	 	(345) 814-8217
	 

	 	Attention:
	 	Iain McMurdo
	 

	 	E-mail:
	 	imcmurdo@walkers.com.ky

     with a copy to:

	 	 	 	 	 
	 	 	Silver Lake Partners

2725 Sand Hill Road, Suite 150

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 234-2593
	 

	 	Attention:
	 	Alan K. Austin, Managing Director and Chief Operating Officer,
and Yolande Jun, Chief Financial Officer
	 

	 	E-mail:
	 	alan.austin@silverlake.com and yolande.jun@silverlake.com

     and with a copy to:

	 	 	 	 	 
	 	 	Latham & Watkins LLP

135 Commonwealth Drive

Menlo Park, CA 94025
	 

	 	Facsimile:
	 	(650) 463-2600
	 

	 	Attention:
	 	Peter F. Kerman
	 

	 	E-mail:
	 	peter.kerman@lw.com

- 23 -

 

     If to KKR:

	 	 	 	 	 
	 	 	KKR Millennium Fund (Overseas), KKR European Fund,

KKR European Fund II and KKR Partners (International)

c/o Eeson & Woolstencroft LLP

Suite 500, 603 - 7th Avenue S.W.

Calgary, Alberta

Canada
	 

	 	Facsimile:
	 	(403) 264-1603
	 

	 	Attention:
	 	Mark N. Woolstencroft
	 

	 	E-mail:
	 	mark.woolstencroft@ewlegal.com

     with a copy to:

	 	 	 	 	 
	 	 	Kohlberg Kravis Roberts & Co.

2800 Sand Hill Road, Suite 200

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 233-6574 and (650) 233-6548
	 

	 	Attention:
	 	James H. Greene Jr. and Adam A. Clammer
	 

	 	E-mail:
	 	jgreene@kkr.com and adam@kkr.com

     and with a copy to:

	 	 	 	 	 
	 	 	Latham & Watkins LLP

135 Commonwealth Drive

Menlo Park, CA 94025
	 

	 	Facsimile:
	 	(650) 463-2600
	 

	 	Attention:
	 	Peter F. Kerman
	 

	 	E-mail:
	 	peter.kerman@lw.com

     If to Integral Capital:

	 	 	 	 	 
	 	 	Integral Capital Partners

3000 Sand Hill Road

Bldg. 3, Suite 240

Menlo Park, California 94025
	 

	 	Facsimile:
	 	(650) 233-0366
	 

	 	Attention:
	 	Pamela K. Hagenah
	 

	 	E-mail:
	 	pam@icp.com

- 24 -

 

     If to Temasek:

	 	 	 	 	 
	 	 	Seletar Investments Pte. Ltd.

60B Orchard Road

#06-18

Tower 2

The Atrium @ Orchard

Singapore 238891

Singapore
	 

	 	Facsimile:
	 	011-65-6821-1172
	 

	 	Attention:
	 	Dennis Siew and Andrew Yeo
	 

	 	E-mail:
	 	dsiew@temasek.com.sg and andrewyeo@temasek.com.sg

     with a copy to:

	 	 	 	 	 
	 	 	Milbank, Tweed, Hadley & McCloy LLP

30 Raffles Place

#14-00 Caltex House

Singapore 048622

Singapore
	 

	 	Facsimile:
	 	011-65-6428-2500 and (650) 739-7100
	 

	 	Attention:
	 	David H. Zemans and Melainie K. Mansfield
	 

	 	E-mail:
	 	dzemans@milbank.com and mmansfield@milbank.com

     If to Geyser:

	 	 	 	 	 
	 	 	Geyser Investment Pte. Ltd.

c/o GIC

168 Robinson Road

#37-01 Capital Tower

Singapore 068912

Singapore
	 

	 	Facsimile:
	 	011-65-6889-6891
	 

	 	Attention:
	 	Ng Kin Sze
	 

	 	E-mail:
	 	ngkinsze@gic.com.sg

     with a copy to:

	 	 	 	 	 
	 	 	Geyser Investment Pte. Ltd.

c/o GIC Special Investments Pte. Ltd.

255 Shoreline Drive, Suite 600

Redwood City, CA 94065
	 

	 	Facsimile:
	 	(650) 802-1213
	 

	 	Attention:
	 	Tay Lim Hock and Soo Yar Ping
	 

	 	E-mail:
	 	taylimhock@gic.com.sg and sooyarping@gic.com.sg

- 25 -

 

     and with a copy to:

	 	 	 	 	 
	 	 	Heller Ehrman LLP

333 Bush Street

San Francisco, CA 94104-2878
	 

	 	Facsimile:
	 	(415) 772-6268
	 

	 	Attention:
	 	Randall B. Schai
	 

	 	E-mail:
	 	randall.schai@hellerehrman.com

     If to Capstone:

	 	 	 	 	 
	 	 	Capstone Equity Investors LLC

9 West 57th Street

New York, New York 10019
	 

	 	Facsimile:
	 	(212) 230-9795
	 

	 	Attention:
	 	Dean Nelson
	 

	 	E-mail:
	 	nelsd@kkr.com

     6.9. Delivery by Facsimile. This Agreement and any signed agreement or instrument
entered into in connection herewith or contemplated hereby, and any amendments hereto or thereto,
to the extent signed and delivered by means of a facsimile machine, shall be treated in all manner
and respects as an original agreement or instrument and shall be considered to have the same
binding legal effect as if it were the original signed version thereof delivered in person. At the
request of any party hereto or to any such agreement or instrument, each other party hereto or
thereto shall re-execute original forms thereof and deliver them to all other parties. No party
hereto or to any such agreement or instrument shall raise the use of a facsimile machine to deliver
a signature or the fact that any signature or agreement or instrument was transmitted or
communicated through the use of a facsimile machine as a defense to the formation of a contract and
each such party forever waives any such defense.

     6.10. Governing Law. The Singapore Companies Act will govern all issues concerning
the internal corporate affairs of the Company. All other issues concerning this agreement shall be
governed by and construed in accordance with the laws of the State of New York, without giving
effect to any choice of law or conflict of law provision or rule (whether of the State of New York
or any other jurisdiction) that would cause the application of the law of any jurisdiction other
than the State of New York.

*                *                Signature pages follow                *                *

- 26 -

 

          IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement on the day
and year first above written.

	 	 	 	 	 	 	 
	 	 	COMPANY:

AVAGO TECHNOLOGIES LIMITED	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene Jr.	 	 
	 

	 	Name:
	 	 

James H. Greene Jr.
	 	 
	 

	 	Title:
	 	Director	 	 

Signature Page to Registration Rights Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	SHAREHOLDERS

BALI INVESTMENTS S.À R.L.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Kenneth Y. Hao	 	 
	 

	 	Name:
	 	 

Kenneth Y. Hao
	 	 
	 

	 	Title:
	 	Manager	 	 

Signature Page to Registration Rights Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	SILVER LAKE PARTNERS II CAYMAN, L.P.	 	 
	 

	 	By:
	 	Silver Lake Technology Associates II
Cayman, L.P., its General Partner	 	 
	 

	 	By:
	 	Silver Lake (Offshore) AIV GP II, Ltd.,
its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Alan K. Austin	 	 
	 

	 	Name:
	 	 

Alan K. Austin
	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 	 	SILVER LAKE TECHNOLOGY INVESTORS II CAYMAN,
L.P.	 	 
	 

	 	By:
	 	Silver Lake (Offshore) AIV GP II, Ltd.,
its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Alan K. Austin	 	 
	 

	 	Name:
	 	 

Alan K. Austin
	 	 
	 

	 	Title:
	 	Director	 	 

Signature Page to Registration Rights Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	INTEGRAL CAPITAL PARTNERS VII, L.P.	 	 
	 

	 	By:
	 	Integral Capital Management VII, LLC,
its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Pamela K. Hagenah	 	 
	 

	 	Name:
	 	 

Pamela K. Hagenah
	 	 
	 

	 	Title:
	 	Manager	 	 

Signature Page to Registration Rights Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	KKR MILLENNIUM FUND (OVERSEAS), LIMITED
PARTNERSHIP	 	 
	 

	 	By:
	 	KKR Associates Millennium (Overseas),
Limited Partnership, its General Partner	 	 
	 

	 	By:
	 	KKR Millennium (Overseas), Limited, its
General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene Jr.	 	 
	 

	 	Name:
	 	 

James H. Greene Jr.
	 	 
	 

	 	Title:
	 	Director	 	 

	 	 	 	 	 	 	 
	 	 	KKR EUROPEAN FUND, LIMITED PARTNERSHIP	 	 
	 

	 	By:
	 	KKR Associates Europe, Limited
Partnership, its General Partner	 	 
	 

	 	By:
	 	KKR Europe Limited, its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene Jr.	 	 
	 

	 	Name:
	 	 

James H. Greene Jr.
	 	 
	 

	 	Title:
	 	Director	 	 

	 	 	 	 	 	 	 
	 	 	KKR EUROPEAN FUND II, LIMITED PARTNERSHIP	 	 
	 

	 	By:
	 	KKR Associates Europe II, Limited
Partnership, its General Partner	 	 
	 

	 	By:
	 	KKR Europe II Limited, its General
Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene Jr.	 	 
	 

	 	Name:
	 	 

James H. Greene Jr.
	 	 
	 

	 	Title:
	 	Director	 	 

	 	 	 	 	 	 	 
	 	 	KKR PARTNERS (INTERNATIONAL), LIMITED
PARTNERSHIP	 	 
	 

	 	By:
	 	KKR 1996 Overseas, Limited	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ James H. Greene Jr.	 	 
	 

	 	Name:
	 	 

James H. Greene Jr.
	 	 
	 

	 	Title:
	 	Director	 	 

Signature Page to Registration Rights Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	AVAGO INVESTMENT PARTNERS, LIMITED PARTNERSHIP	 	 
	 

	 	By:
	 	Avago Investment G.P., Limited, its
General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Adam A Clammer	 	 
	 

	 	Name:
	 	 

Adam A Clammer
	 	 
	 

	 	Title:
	 	KKR Officer	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Kenneth Y. Hao	 	 
	 

	 	Name:
	 	 

Kenneth Y. Hao
	 	 
	 

	 	Title:
	 	SLP Officer	 	 

Signature Page to Registration Rights Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	SELETAR INVESTMENTS PTE. LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Dennis Siew	 	 
	 
	 		 
 	 	 
	 

	 	Name: 	 Dennis Siew	 	 
	 

	 	Title:
	 	Authorized Signatory	 	 

Signature Page to Registration Rights Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	GEYSER INVESTMENT PTE. LTD.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/  Alvin A. Fong	 	 
	 
	 		 	 
 	 	 
	 

	 	Name:
	 	Alvin A. Fong
	 	 
	 

	 	Title:
	 	Authorized Signatory	 	 

Signature Page to Registration Rights Agreement for Avago Technologies Limited

 

 

	 	 	 	 	 	 	 
	 	 	CAPSTONE EQUITY INVESTORS LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Dean Nelson	 	 
	 

	 	Name:
	 	 

Dean Nelson
	 	 
	 

	 	Title:
	 	Managing Member	 	 

Signature Page to Registration Rights Agreement for Avago Technologies Limited

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