Document:

exv10w17

 

Exhibit-10.17

          SUPPLEMENT NO. 1 dated as of May 1, 2006, to the SECURITY
AGREEMENT dated as of December 1, 2005, among AVAGO TECHNOLOGIES WIRELESS
(U.S.A.) MANUFACTURING INC., a Delaware corporation (“U.S.
Wireless”), and AVAGO TECHNOLOGIES U.S. INC., a Delaware corporation
(“U.S. Opco” and together with U.S. Wireless, the “U.S.
Borrowers” and each a “U.S. Borrower”), each of the
Subsidiaries of the Company listed on the signature pages thereto (each
such Subsidiary individually, a “Subsidiary Grantor” and,
collectively, the “Subsidiary Grantors”; the Subsidiary Grantors
and the U.S. Borrowers are referred to collectively as the
“Grantors”) and CITICORP NORTH AMERICA, INC., as Collateral Agent
(in such capacity, the “Collateral Agent”) under the Credit
Agreement referred to below.

          A. Reference is made to (a) the Credit Agreement dated as of December 1, 2005 (as the same may
be amended, restated, supplemented or otherwise modified, refinanced or replaced from time to time,
the “Credit Agreement”), among AVAGO TECHNOLOGIES FINANCE PTE. LTD. (company registration
number 200512223N), a Singapore limited company (the “Company” or the “Singaporean
Borrower”), a wholly-owned Subsidiary of AVAGO TECHNOLOGIES HOLDING PTE. LTD. (company
registration number 200512203H), a Singapore limited company (“Holdings”), a wholly-owned
Subsidiary of AVAGO TECHNOLOGIES LIMITED (company registration number 200510713C), a Singapore
limited company (“Avago” or “Parent”), AVAGO TECHNOLOGIES FINANCE S.À.R.L., a Grand
Duchy of Luxembourg limited liability company (the “Lux Borrower”), AVAGO TECHNOLOGIES
(MALAYSIA) SDN. BHD. (f/k/a Jumbo Portfolio Sdn. Bhd.) (Company No. 704181-P), a company
incorporated in Malaysia under the Companies Act, 1965 (the “Malaysian Borrower”), the U.S.
Borrowers (together with the Singaporean Borrower, the Lux Borrower and the Malaysian Borrower, the
“Borrowers and each, a “Borrower”), the lenders or other financial institutions or
entities from time to time parties thereto (the “Lenders”), CITICORP INTERNATIONAL LIMITED
(HONG KONG), as Asian Administrative Agent and CITICORP NORTH AMERICA, INC., as Tranche B Term Loan
Administrative Agent and as Collateral Agent and (b) the Guarantee dated as of December 1, 2005 (as
the same may be amended, restated, supplemented or otherwise modified, refinanced or replaced from
time to time, the “Guarantee”), among the Guarantors party thereto and the Collateral
Agent.

          B. Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Security Agreement.

          C. The Grantors have entered into the Security Agreement in order to induce the Administrative
Agents, the Collateral Agent, the Syndication Agent, the Lenders and the Letter of Credit Issuer to
enter into the Credit Agreement and to induce the respective Lenders and the Letter of Credit
Issuer to make their respective Extensions

 

 

of Credit to the Borrowers under the Credit Agreement and to induce one or more Lenders or
affiliates of Lenders to enter into Hedge Agreements with the Borrowers.

          D. Section 9.11 of the Credit Agreement and Section 8.13 of the Security Agreement provide
that each U.S. Subsidiary of the Borrower that is required to become a party to the Security
Agreement pursuant to Section 9.11 of the Credit Agreement shall become a Grantor, with the same
force and effect as if originally named as a Grantor therein, for all purposes of the Security
Agreement upon execution and delivery by such U.S. Subsidiary of an instrument in the form of this
Supplement. Each undersigned U.S. Subsidiary (each a “New Grantor”) is executing this
Supplement in accordance with the requirements of the Security Agreement to become a Subsidiary
Grantor under the Security Agreement in order to induce the Lenders and the Letter of Credit Issuer
to make additional Extensions of Credit and as consideration for Extensions of Credit previously
made.

          Accordingly, the Collateral Agent and the New Grantors agree as follows:

          SECTION 1. In accordance with subsection 8.13 of the Security Agreement, each New Grantor by
its signature below becomes a Grantor under the Security Agreement with the same force and effect
as if originally named therein as a Grantor and each New Grantor hereby (a) agrees to all the terms
and provisions of the Security Agreement applicable to it as a Grantor thereunder and (b)
represents and warrants that the representations and warranties made by it as a Grantor thereunder
are true and correct on and as of the date hereof. In furtherance of the foregoing, each New
Grantor, as security for the payment and performance in full of the Obligations, does hereby
bargain, sell, convey, assign, set over, mortgage, pledge, hypothecate and transfer to the
Collateral Agent, for the ratable benefit of the Secured Parties, and hereby grants to the
Collateral Agent, for the ratable benefit of the Secured Parties, a Security Interest in all of the
Collateral of such New Grantor, in each case whether now or hereafter existing or in which now has
or hereafter acquires an interest. Each reference to a “Grantor” in the Security Agreement shall
be deemed to include each New Grantor. The Security Agreement is hereby incorporated herein by
reference.

          SECTION 2. Each New Grantor represents and warrants to the Collateral Agent and the other
Secured Parties that this Supplement has been duly authorized, executed and delivered by it and
constitutes its legal, valid and binding obligation, enforceable against it in accordance with its
terms.

          SECTION 3. This Supplement may be executed by one or more of the parties to this Supplement on
any number of separate counterparts (including by facsimile or other electronic transmission), and
all of said counterparts taken together shall be deemed to constitute one and the same instrument.
A set of the copies of this Supplement signed by all the parties shall be lodged with the
Collateral Agent and the Company. This Supplement shall become effective as to each New Grantor
when the Collateral Agent shall have received counterparts of this Supplement that, when taken
together, bear the signatures of such New Grantor and the Collateral Agent.

 

 

          SECTION 4. Each New Grantor hereby represents and warrants that (a) set forth on Schedule I
attached hereto is a true and correct schedule of the location of any and all Collateral of such
New Grantor, (b) set forth under its signature hereto is (i) the legal name of such New Grantor,
(ii) the jurisdiction of incorporation or organization of such New Grantor, (iii) the true and
correct location of the chief executive office and principal place of business and any office in
which it maintains books or records relating to Collateral owned by it, (iv) the identity or type
of organization or corporate structure of such New Grantor and (v) the Federal Taxpayer
Identification Number and organizational number of such New Grantor and (c) as of each Closing Date
(i) Schedule II hereto sets forth, in proper form for filing with the United States Copyright
Office, all of each New Grantor’s Copyrights (and all applications therefor), (ii) Schedule III
hereto sets forth, in proper form for filing with the United States Patent and Trademark Office,
all of each New Grantor’s Patents (and all applications therefor), (iii) Schedule IV hereto sets
forth, in proper form for filing with the United States Patent and Trademark Office, all of each
New Grantor’s Trademarks (and all applications therefor).

          SECTION 5. Except as expressly supplemented hereby, the Security Agreement shall remain in
full force and effect.

          SECTION 6. THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

          SECTION 7. Any provision of this Supplement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof and in the Security
Agreement, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor
in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid
provisions the economic effect of which comes as close as possible to that of the invalid, illegal
or unenforceable provisions.

          SECTION 8. All notices, requests and demands pursuant hereto shall be made in accordance with
Section 13.2 of the Credit Agreement. All communications and notices hereunder to each New Grantor
shall be given to it in care of the Company at the Company’s address set forth in Section 13.2 of
the Credit Agreement.

          SECTION 9. Each New Grantor agrees to reimburse the Collateral Agent for its respective
reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable
fees, other charges and disbursements of counsel for the Collateral Agent.

 

 

          IN WITNESS WHEREOF, each New Grantor and the Collateral Agent have duly executed this
Supplement to the Security Agreement as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	AVAGO TECHNOLOGIES SENSOR (U.S.A.) INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Rex Jackson 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:  Rex Jackson	 	 
	 

	 	 	 	Title:    Director	 	

	 	 	 	 	 	 	 
	 	 	CITICORP NORTH AMERICA, INC., AS COLLATERAL AGENT	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/
C. P. Mahon 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name: C. P. Mahon	 	
	 

	 	 	 	Title:   Vice President	 	

Signature Page to Guarantee Supplementexv10w18

 

Exhibit-10.18

EQUITY INCENTIVE PLAN

FOR EXECUTIVE EMPLOYEES OF

AVAGO TECHNOLOGIES LIMITED AND SUBSIDIARIES

(AMENDED AND RESTATED EFFECTIVE AS OF APRIL 14, 2006)

	1.	 	Purpose of Plan

     The Equity Incentive Plan for Executive Employees of Avago Technologies Limited and
Subsidiaries (the “Plan”) is designed:

     (a) to promote the long term financial interests and growth of Avago
Technologies Limited, a company organized under the laws of Singapore (the
“Company”), and its Subsidiaries by attracting and retaining management and
personnel with the training, experience and ability to enable them to make a
substantial contribution to the success of the Company’s business;

     (b) to motivate personnel by means of growth-related incentives to achieve long
range goals; and

     (c) to further the identity of interests of participants with those of the
shareholders of the Company through opportunities for share or share-based ownership
in the Company.

	2.	 	Definitions

     As used in the Plan, the following words shall have the following meanings:

     (a) “Affiliate” shall mean (i) with respect to any Person, any other Person
directly or indirectly controlling, controlled by, or under common control with,
such Person, and (ii) with respect to the Company, also any entity designated by the
Board of Directors of the Company in which the Company or one of its Affiliates has
an interest, (iii) with respect to Kohlberg Kravis Roberts & Co., (“KKR”), any
Affiliate of any partner of KKR and (iv) with respect to Silver Lake Partners,
(“SLP”), any Affiliate of any partner of SLP. For purposes of this Plan, “Person”
means an individual, partnership, corporation, limited liability company, business
trust, joint stock company, trust, unincorporated association, joint venture,
governmental authority or other entity of whatever nature, and “control” shall have
the meaning given such term under Rule 405 of the Securities Act.

     (b) “Board of Directors” means the Board of Directors of the Company.

     (c) “Committee” means the Board of Directors or if administration of the Plan
is delegated by the Board of Directors to it, the Compensation Committee

 

 

of the Board of Directors or such other committee of the Board of Directors designated by
the Board of Directors to administer the Plan.

     (d) “Employee” means a person, including an officer, in the regular employment
of the Company or one of its Subsidiaries.

     (e) “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended.

     (f) “Fair Market Value” means such value of a Share as reported for stock
exchange transactions and/or determined in accordance with any applicable
resolutions or regulations of the Committee in effect at the relevant time.

     (g) “Grant” means a Share Option or a Share Purchase Right.

     (h) “Grant Agreement” means an agreement between the Company and a Participant
that sets forth the terms, conditions and limitations applicable to a Grant. The
terms, conditions and limitations applicable to a Share Purchase Right may be set
forth in a Shareholders Agreement, which shall then constitute a Grant Agreement for
purposes of this Plan.

     (i) “Participant” means an Employee, consultant, or other person having a
unique relationship with the Company or one of its Subsidiaries, to whom one or more
Grants have been made and such Grants have not all been forfeited or terminated
under the Plan; provided, however, a non-employee director of the Company or one of
its Subsidiaries may not be a Participant.

     (j) “Securities Act” means the U.S. Securities Act of 1933, as amended and the
rules and regulations promulgated thereunder.

     (k) “Share” means an ordinary share in the capital of the Company.

     (l) “Shareholder’s Agreement” means an agreement between the Company and an
Employee, consultant, or other person having a unique relationship with the Company
or one of its Subsidiaries that sets forth the terms, conditions and limitations
applicable to Share Options and Shares, including Shares issued under a Share Option
and a Share Purchase Right.

     (m) “Share Options” means the “Non-Qualified Share Options” described in
Section 5.

     (n) “Share Purchase Right” means a right to purchase Shares pursuant to Section
6 hereof.

     (o) “Subsidiary” means any corporation (or other entity) other than the Company
in an unbroken chain of entities beginning with the Company if each of
the entities, or group of commonly controlled entities, other than the last
entity in the unbroken chain, then owns shares (or other equity interest) possessing
50% or

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more of the total combined voting power of all classes of equity in one of
the other entities in such chain.

	3.	 	Administration of Plan

     (a) The Plan shall be administered by the Board of Directors or the Committee.
Unless otherwise determined by the Board of Directors, the members of the Committee
shall consist solely of individuals who are both “non-employee directors” as defined
by Rule 16b-3 promulgated under the Exchange Act and “outside directors” for
purposes of Section 162(m) of the U.S. Internal Revenue Code of 1986, as amended
(the “Code”), to the extent that the Company and its Employees are subject to
Section 16 of the Exchange Act or Section 162(m) of the Code. The Committee may
adopt its own rules of procedure, and the action of a majority of the Committee,
taken at a meeting or taken without a meeting by a writing signed by such majority,
shall constitute action by the Committee. The Committee shall have the power,
authority and the discretion to administer, construe and interpret the Plan and
Grant Agreements, to make rules for carrying out the Plan and to make changes in
such rules. Any such interpretations, rules, and administration shall be made and
done in good faith and consistent with the basic purposes of the Plan and be subject
to all applicable laws.

     (b) The Committee may delegate to the Chief Executive Officer and to other
senior officers of the Company its duties under the Plan subject to such conditions
and limitations as the Committee shall prescribe except that only the Committee may
designate and make Grants to Participants who are subject to Section 16 of the
Exchange Act or Section 162(m) of the Code.

     (c) The Committee may employ attorneys, consultants, accountants, appraisers,
brokers or other persons. The Committee, the Company, and the officers and
directors of the Company shall be entitled to rely upon the advice, opinions or
valuations of any such persons. Subject to the terms and conditions of this Plan
and any applicable Grant Agreement, all actions taken and all interpretations and
determinations made by the Committee in good faith shall be final and binding upon
all Participants, the Company and all other interested persons. No member of the
Committee shall be personally liable for any action, determination or interpretation
made in good faith with respect to the Plan or the Grants, and all members of the
Committee shall be fully protected by the Company with respect to any such action,
determination or interpretation.

	4.	 	Eligibility

     (a) The Committee may from time to time make Grants under the Plan to such
Employees, consultants, or other persons having a unique relationship with the
Company or any of its Subsidiaries, and in such form and having such terms,
conditions and limitations as the Committee may determine. No Grants
may be made under this Plan to non-employee directors of the Company or any of
its Subsidiaries. Grants may be granted singly, in combination or in tandem. The

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terms, conditions and limitations of each Grant under the Plan shall be set forth in
a Grant Agreement, in a form approved by the Committee, consistent, however, with
the terms of the Plan; provided, however, such Grant Agreement shall contain
provisions dealing with the treatment of Grants in the event of the termination,
death or disability of the Participant, and may also include provisions concerning
the treatment of Grants in the event of a change of control of the Company.

     (b) Notwithstanding anything in this Plan to the contrary, prior to the
Committee making a Grant under the Plan to an Employee, consultant or other person
having a unique relationship with the Company or any of its Subsidiaries, such
Employee, consultant or other person shall have executed a Shareholder’s Agreement
in a form acceptable to the Company.

	5.	 	Share Options

     From time to time, the Committee may grant options to purchase Shares which are not
“incentive stock options,” within the meaning of Section 422 of the Code. At the time of a
Grant of a Share Option, the Committee shall determine, and shall have specified in the
Grant Agreement or other Plan rules, the option exercise period, the option exercise price,
and such other conditions or restrictions on the grant or exercise of the Share Option as
the Committee deems appropriate. In addition to other restrictions contained in the Plan
and Grant Agreement, Share Options granted under this Section 5 (i) may not be exercised
more than 10 years (five years in the case of Grants to non-Employees) after the date
granted and (ii) unless granted in substitution or exchange for other options in
connections with a corporate transaction, may not have an option exercise price less than
100% of the Fair Market Value of a Share on the date the option is granted. Payment of the
option exercise price shall be made in cash or, with the consent of the Committee, in
Shares (including Shares acquired by contemporaneous exercise of other Share Options), or a
combination thereof, in accordance with the terms of the Plan, the Grant Agreement and any
applicable guidelines of the Committee in effect at the time.

	6.	 	Share Purchase Rights

     Share Purchase Rights may be granted either alone, in addition to, or in tandem with Share
Options granted under the Plan. After the Committee determines that it will offer Share Purchase
Rights under the Plan, it shall advise the offeree in writing of the terms, conditions and
restrictions to which the offer is subject, which may include the number of Shares that such person
shall be entitled to purchase, the price to be paid, and the time within which such person must
accept such offer; provided, however, that the purchase price of such Shares shall not be less than
the purchase price required under applicable law. The offer shall be accepted by execution of a
Grant Agreement in the form determined by the Committee.

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	7.	 	Limitations and Conditions

     (a) The aggregate number of Shares available for Grants under this Plan and the
Equity Incentive Plan for Senior Management Employees of Avago Technologies Limited
and Subsidiaries (the “Senior Management Plan”) shall be 30,000,000 Shares. The
issuance of a Share under the Senior Management Plan shall reduce the number of
Shares available for Grants under the Plan, and vice versa. Unless restricted by
applicable law, Shares related to Grants that are forfeited, terminated, canceled or
expire unexercised, shall immediately become available for Grants.

     (b) The term of a Grant shall not exceed ten years. No Grants shall be made
under the Plan beyond ten years after the effective date of the Plan, but the terms
of Grants made on or before the expiration thereof may extend beyond such
expiration. At the time a Grant is made or amended or the terms or conditions of a
Grant are changed, the Committee may provide for limitations or conditions on such
Grant.

     (c) Nothing contained herein shall affect the right of the Company or any
Subsidiary to terminate any Participant’s employment at any time or for any reason.

     (d) Except as otherwise prescribed by the Committee, the amounts of the Grants
for any employee of a Subsidiary, along with interest, dividends, and other expenses
accrued on deferred Grants shall be charged to the Participant’s employer during the
period for which the Grant is made. If the Participant is employed by more than one
Subsidiary or by a combination of the Company and a Subsidiary during the period for
which the Grant is made, the Participant’s Grant and related expenses will be
allocated between the companies employing the Participant in a manner prescribed by
the Committee.

     (e) Other than as specifically provided by will or by the applicable laws of
descent and distribution or the terms of any applicable trust, no benefit under the
Plan shall be subject in any manner to anticipation, alienation, sale, transfer,
assignment, pledge, encumbrance, or charge, and any attempt to do so shall be void.
No such benefit shall, prior to receipt thereof by the Participant, be in any manner
liable for or subject to the debts, contracts, liabilities, engagements, or torts of
the Participant.

     (f) A Participant shall not be, and shall not have any of the rights or
privileges of, a shareholder of the Company in respect of any Shares purchasable or
otherwise acquired in connection with any Grant unless and until certificates
representing any such Shares have been issued by the Company to such Participants;
provided however that no delay in the issuance of certificates due to be issued
hereunder representing any such Shares shall operate to impair or prejudice any
Participant’s rights to participate in a corporate transaction providing for the
disposition of such Shares.

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     (g) No election as to benefits or exercise of Share Options, Share Purchase
Rights or other rights may be made during a Participant’s lifetime by anyone other
than the Participant except by a legal representative appointed for or by the
Participant.

     (h) Absent express provisions to the contrary, no Grant under this Plan shall
be deemed “compensation” for purposes of computing benefits or contributions under
any retirement plan of the Company or its Subsidiaries and shall not affect any
benefits under any other benefit plan of any kind or subsequently in effect under
which the availability or amount of benefits is related to level of compensation.
This Plan is not a “Pension Plan” or “Welfare Plan” under the Employee Retirement
Income Security Act of 1974, as amended.

     (i) Unless the Committee determines otherwise, no benefit or promise under the
Plan shall be secured by any specific assets of the Company or any of its
Subsidiaries, nor shall any assets of the Company or any of its Subsidiaries be
designated as attributable or allocated to the satisfaction of the Company’s
obligations under the Plan.

	8.	 	Transfers and Leaves of Absence

     For purposes of the Plan, unless the Committee determines otherwise: (a) a transfer of a
Participant’s employment without an intervening period of separation among the Company and any
Subsidiary shall not be deemed a termination of employment, and (b) a Participant who is granted in
writing a leave of absence shall be deemed to have remained in the employ of the Company or a
Subsidiary during such leave of absence.

	9.	 	Adjustments

     In the event of any change in the outstanding Shares (including an exchange for cash) by
reason of a stock split, reverse stock split, spin-off, stock dividend, stock combination or
reclassification, recapitalization, reorganization, consolidation, merger, change of control, or
similar event, the Committee shall adjust appropriately the number and kind of Shares subject to
the Plan and available for, covered by or issued pursuant to Grants and Share prices related to
outstanding Grants, and make such other revisions to outstanding Grants as it deems are equitably
required.

	10.	 	Merger, Consolidation, Exchange, Acquisition, Distribution, Liquidation or Dissolution

     In its sole discretion, and on such terms and conditions as it deems appropriate, coincident
with or after any Grant, the Committee may provide that such Grant cannot be exercised after the
consummation of the merger or consolidation of the Company into another corporation, the exchange
of all or substantially all of the assets of the Company for the securities of another corporation,
the acquisition by another corporation of 80% or more of the Company’s then outstanding voting
shares or the recapitalization, reclassification, liquidation or dissolution of the Company, or
other adjustment or event which results in Shares being exchanged for or converted into cash,
securities or other property, and if the Committee so

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provides, it shall, on such terms and conditions as it deems appropriate in its absolute
discretion, also provide, either by the terms of such Grant or by a resolution adopted prior to the
consummation of such merger, consolidation, exchange, acquisition, recapitalization,
reclassification, liquidation or dissolution, that, for some period of time prior to the
consummation of such transaction or event, such Grant shall be exercisable as to all shares subject
thereto, notwithstanding anything to the contrary herein (but subject to the provisions of Section
7(b)) and that, upon the consummation of such event, such Grant shall terminate and be of no
further force or effect; provided, however, that the Committee may also provide, in its absolute
discretion, that even if the Grant shall remain exercisable after any such event, from and after
such event, any such Grant shall be exercisable only for the kind and amount of cash, securities
and/or other property, or the cash equivalent thereof (net of any applicable exercise price),
receivable as a result of such event by the holder of a number of shares for which such Grant could
have been exercised immediately prior to such event.

     In the event of a “spin-off” or other substantial distribution of assets of the Company which
has a material diminutive effect upon the Fair Market Value of the Company’s Shares, the Committee
shall in its discretion make an appropriate and equitable adjustment to any Grant exercise or
purchase price to reflect such diminution.

	11.	 	Amendment and Termination

     The Committee shall have the authority to make such amendments to any terms and conditions
applicable to outstanding Grants as are consistent with this Plan provided that, except for
adjustments under Section 9 or 10 hereof and subject to Section 15, no such action shall modify
such Grant in a manner adverse to the Participant without the Participant’s consent except as such
modification is provided for or contemplated in the terms of the Grant. The Board of Directors may
amend, suspend or terminate the Plan at any time.

	12.	 	Withholding Taxes

     The Company shall have the right to deduct from any cash payment or Share issuance made under
the Plan any taxes required by law to be withheld with respect to such payment or issuance. It
shall be a condition to the obligation of the Company to deliver Shares upon the exercise of a
Grant that the Participant pay to the Company such amount as may be requested by the Company for
the purpose of satisfying any liability for such withholding taxes. Any Grant Agreement may
provide that the Participant may elect, in accordance with any conditions set forth in such Grant
Agreement, to pay a portion or all of such withholding taxes in Shares (including Shares acquired
by contemporaneous exercise of other Grants).

	13.	 	Registration

     (a) If the Company shall have filed a registration statement pursuant to the
requirements of Section 12 of the Exchange Act, or engaged in a Public Offering (as
defined below), (i) the Company shall use reasonable efforts to register the Share
Options and the Shares to be acquired on exercise of the Share Options on a Form S-8
Registration Statement or any successor to Form S-8 to the extent that such
registration is then available with respect to such Share Options

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and Shares and (ii) the Company will use reasonable efforts to file the reports
required to be filed by it under the Securities Act and the Exchange Act and the
rules and regulations adopted by the Securities and Exchange Commission (“SEC”)
thereunder, to the extent required from time to time to enable the Participant to
sell Shares without registration under the Securities Act within the limitations of
the exemptions provided under any applicable rule or regulation of the SEC.
Notwithstanding anything contained in this Section 13, the Company may deregister
under Section 12 of the Exchange Act if it is then permitted to do so pursuant to
the Exchange Act and the rules and regulations thereunder. Nothing in this Section
13 shall be deemed to limit in any manner any otherwise applicable restrictions on
sales of Shares.

     (b) As used herein the term “Public Offering” shall mean the sale of Shares to
the public pursuant to a registration statement under the Securities Act which has
been declared effective by the SEC (other than a registration statement on Form S-8
or any other similar form) which results in an active trading market in the Shares.

	14.	 	Shareholder’s Agreement

     The Grants and the Shares issued to the Participant upon exercise of the Grant shall be
subject to all of the terms and provisions of the Grant Agreement and the Shareholder’s Agreement,
to the extent applicable to the Grant and such Shares. In the event of any conflict between the
Grant Agreement and the Plan, the terms of the Plan shall control. In the event of any conflict
between this Plan or the Grant Agreement and the Shareholder’s Agreement, the terms of the
Shareholder’s Agreement shall control.

	15.	 	Individuals Subject to Non-Singapore Jurisdictions

     To the extent necessary to comply with the laws of any relevant jurisdiction, notwithstanding
any provision in this Plan to the contrary, the Committee shall have the discretion to adopt, on
behalf of the Company, such amendments and/or one or more sub-plans applicable to Participants who
are subject to laws of jurisdictions outside of Singapore as the Committee deems necessary or
advisable in order to comply with applicable laws, regulations or customary business practice.

	16.	 	Effective Date and Termination Dates

     The Plan was originally effective as of December 1, 2005, the effective date of its approval
by the shareholders of the Company and shall terminate on November 30, 2015, subject to earlier
termination by the Board of Directors pursuant to Section 11. The Plan as amended and restated
herein was adopted by the Board of Directors effective April 14, 2006.

	17.	 	Shareholder Approval

     The amendment and restatement of the Plan will be submitted for the approval of the Company’s
shareholders within twelve (12) months after the date of the Board’s adoption of the
amendment and restatement of the Plan. Share Options and Share Purchase Rights may be

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granted
prior to and without such shareholder approval, provided that such Share Options shall not be
exercisable and shall not vest prior to the time when the amended and restated Plan is approved by
the shareholders, and provided further that if such approval has not been obtained at the end of
said twelve-month period, the Share Options granted under the Plan shall be canceled and become
null and void in reverse order based on the date of Grant until the number of Shares subject to
Grants under the Plan and the Senior Management Plan is less than or equal to 21,000,000 and no
further Grants shall be made under the Plan to the extent such Grants cause the number of Shares
subject to Grants under the Plan and the Senior Management Plan to exceed 21,000,000.

9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}]]