Document:

Exhibit 10.1

 

THIRD SUPPLEMENTAL INDENTURE

 

THIRD SUPPLEMENTAL INDENTURE, dated as of March 19,
2010 (this “Third Supplemental Indenture”),
among Seagate Technology International, an exempted limited liability company
organized under the laws of the Cayman Islands (the “Issuer”),
Seagate Technology, an exempted limited liability company organized under the
laws of the Cayman Islands, the other Guarantors under the Indenture referred
to below and Wells Fargo Bank, National Association, as trustee under the Indenture
referred to below (the “Trustee”).

 

W I T N E S S E T H:

 

WHEREAS, the Issuer, the Guarantors and the Trustee
are party to an Indenture, dated as of May 1, 2009 (as amended, the “Indenture”), under which an aggregate principal amount of
$430,000,000 of the Issuer’s 10.00% Senior Secured Second-Priority Notes due
2014 (the “Notes”) have been issued;

 

WHEREAS, Seagate HDD Cayman, an exempted limited
liability company incorporated under the laws of the Cayman Islands (“New Cayco”), became a Guarantor under the Indenture pursuant
to a supplemental indenture, dated as of March 1, 2010 (the “First Supplemental Indenture”), among the Issuer, New Cayco
and the Trustee;

 

WHEREAS, Seagate Technology plc, a public limited
company incorporated under the laws of Ireland (“Seagate
Ireland”), became a Guarantor under the Indenture pursuant to a
supplemental indenture, dated as of March 1, 2010 (the “Second Supplemental Indenture”), among the Issuer, Seagate
Ireland and the Trustee;

 

WHEREAS, the Guarantee of the Notes by Seagate
Ireland is secured on a second priority basis by the collateral security
provided for by that certain Second Priority Debenture and Second Priority
Mortgage of Shares in Seagate Technology, each dated March 1, 2010,
between Seagate Ireland and Wells Fargo Bank, National Association, as
Collateral Agent;

 

WHEREAS, pursuant to transactions encompassing the “Transaction”
(as defined in the Proxy Statement of Seagate Technology, dated March 5,
2010), Seagate Technology will merge with a subsidiary of Seagate Ireland;
Seagate Technology will survive such merger and will become a wholly-owned
Subsidiary of Seagate Ireland;

 

WHEREAS, Section 9.02 of the Indenture provides
that, with the written consent of the Holders of a majority in aggregate principal
amount of the outstanding Notes (the “Requisite Consents”),
the Issuer and the Trustee may amend the Indenture;

 

WHEREAS, the Issuer has completed a consent
solicitation (the “Consent Solicitation”)
whereby the Issuer has obtained the Requisite Consents to amend certain
sections of the Indenture (the “Amendments”);

 

WHEREAS, in connection with the Consent
Solicitation, Holders that delivered a valid consent on a timely basis (the “Consenting Holders”) are entitled to receive a cash fee (the
“Cash Fee”) with respect to the Notes in
respect of which they have validly consented if the conditions to the Consent
Solicitation are met;

 

WHEREAS, the Issuer, the Guarantors and the Trustee
are entering into this Third Supplemental Indenture in order to set forth the
Amendments; and

 

1

 

WHEREAS, this Third Supplemental Indenture has been
duly authorized by all necessary corporate or other action on the part of the
Issuer, the Guarantors and the Trustee.

 

NOW THEREFORE, in consideration of the foregoing and
for other good and valuable consideration, the receipt of which is hereby
acknowledged, the Issuer, the Guarantors and the Trustee mutually covenant and
agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

A R T I C L E 1

 

AMENDMENTS OF THE INDENTURE

 

Section 1.01.        First Paragraph of the Indenture.  The Issuer, the Guarantors and the Trustee
hereby agree to amend the first paragraph of the Indenture, and such first
paragraph is hereby amended by deleting the phrase “(the “Company”)” contained therein.

 

Section 1.02.        Amendment to Section 1.01 of the
Indenture.  The Issuer,
the Guarantors and the Trustee hereby agree to amend Section 1.01 of the
Indenture, and such Section 1.01 is hereby amended by deleting the
definitions of “Change of Control”, “Company” and “Guarantor” in their entirety
and adding the following new definitions of “Change of Control”, “Company”, “Guarantor”
and “Seagate Technology” in the appropriate alphabetical order:

 

“Change of Control”
means:

 

(1)           any “person” (as
such term is used in Sections 13(d) and 14(d) of the Exchange Act)
(other than, in the case of the Issuer, the Company, Seagate Technology,
Seagate HDD or any other Wholly Owned Restricted Subsidiary) is or becomes the “beneficial
owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except
that for purposes of this clause (1) such person shall be deemed to have “beneficial
ownership” of all shares that any such person has the right to acquire, whether
such right is exercisable immediately or only after the passage of time),
directly or indirectly, of more than 50% of the total voting power of the
Voting Stock of the Company or the Issuer (for purposes of this clause (1), a
person shall be deemed to beneficially own any Voting Stock of a person (the “specified person”) held by any other person (the “parent entity”) so long as such person is the beneficial
owner (as defined in this clause (1)), directly or indirectly, of more than 50%
of the voting power of the Voting Stock of the parent entity);

 

(2)           individuals who on
the Issue Date constituted the board of directors of the Company (which for
purposes of this clause (2) shall be deemed to be directors of Seagate
Technology as of the Issue Date) or the Issuer, as applicable (together with
any new directors whose election by such board of directors of the Company or
the Issuer or whose nomination for election by the shareholders of the Company
or the Issuer was approved by a vote of a majority of the directors of the
Company or the Issuer then still in office who were either directors on the
Issue Date or whose election or nomination for election was previously so
approved) cease for any
reason to constitute a majority of the board of directors of the Company or the
Issuer then in office;

 

(3)           the adoption of a
plan relating to the liquidation or dissolution of the Company or the Issuer;
or

 

(4)           the merger or
consolidation of the Company or the Issuer with or into another Person or the
merger of another Person with or into the Company or the Issuer, or the sale of
all or substantially all the assets of the Company or the Issuer (determined on
a consolidated basis) to 

 

2

 

another
Person, other than a transaction following which, in the case of a merger or
consolidation transaction, holders of securities that represented 100% of the
Voting Stock of the Company or the Issuer immediately prior to such transaction
(or other securities into which such securities are converted as part of such
merger or consolidation transaction) own directly or indirectly at least a
majority of the voting power of the Voting Stock of the surviving Person in
such merger or consolidation transaction immediately after such transaction and
in substantially the same proportion as before the transaction.

 

“Company” means Seagate Technology plc, a company
incorporated under the laws of Ireland, or any successor obligor to its
obligations under the Indenture and the Notes pursuant to Article 5;
provided that “Company” shall mean Seagate Technology in connection with any
reference in the Indenture relating to the “Company” (1) in clause (a) of
the definition of “Deferred Compensation Plans”, (2) as a party to any
agreement or debt instrument in effect as of the Issue Date or (3) when
measuring Consolidated Total Assets as of the last day of a fiscal period for
which Seagate Technology plc was not a parent company of Seagate Technology.

 

“Guarantor”
means the Company, Seagate Technology and each other  Restricted Subsidiary that Guarantees
the Notes in existence on the Issue Date or executes a supplemental indenture
in the form of Exhibit B to the Indenture providing for the Guarantee of
the payment of the Notes, or any successor obligor under its Note Guaranty
pursuant to Article 5, in each case unless and until such Guarantor is
released from its Note Guaranty pursuant to the Indenture.

 

“Seagate Technology”
means Seagate Technology, an exempted limited liability company organized under
the laws of the Cayman Islands.

 

Section 1.03.        Amendment to Section 5.01(a) of
the Indenture.  The Issuer,
the Guarantors and the Trustee hereby agree to amend clause (1) of Section 5.01(a) of
the Indenture, and such clause (1) of Section 5.01(a) is hereby
amended by deleting such clause in its entirety and inserting in lieu thereof
the following new clause (1):

 

“(1)         either (x) the
Company or the Issuer (as applicable) is the continuing Person or (y) the
resulting, surviving or transferee Person is a corporation organized (or
incorporated) and validly existing under the laws of Ireland (in the case of
the Company),  the Cayman Islands
or the United States of America or any jurisdiction thereof and expressly
assumes by supplemental indenture all of the obligations of the Company or the
Issuer, as applicable, under the Indenture, the Notes and the Security
Agreements;”

 

Section 1.04.        Miscellaneous Amendment to the Indenture.  Notwithstanding any provision in the
Indenture to the contrary, the transactions encompassing the “Transaction” (as
defined in the Proxy Statement of Seagate Technology, dated March 5,
2010), whereby Seagate Technology plc will become the parent company of Seagate
Technology, shall be permitted under the Indenture and shall not cause a
Default or an Event of Default under the Indenture or the Notes.  For avoidance of any doubt, Seagate
Technology will remain a Guarantor under the Indenture.

 

A R T I C L E 2

 

MISCELLANEOUS

 

Section 2.01.        Ratification of Indenture, Supplemental
Indentures Part of Indenture.  Except as expressly amended hereby, the
Indenture, the First Supplemental Indenture and the Second Supplemental
Indenture are in all respects ratified and confirmed and all the terms,
conditions and provisions thereof 

 

3

 

shall remain in full force and effect.  Upon the execution and delivery of this Third
Supplemental Indenture by the Issuer, the Guarantors and the Trustee, the
Indenture shall be supplemented in accordance herewith, this Third Supplemental
Indenture shall form a part of the Indenture for all purposes, and every Holder
of Notes heretofore or hereafter authenticated and delivered shall be bound
hereby.

 

Notwithstanding the foregoing, the Amendments set
forth herein will have no effect, and this Third Supplemental Indenture shall
be null and void, if (a) the Cash Fee is not paid to the Consenting
Holders in accordance with the terms and conditions of the Consent Solicitation
or (b) the transactions encompassing the “Transaction” (as defined in the
Proxy Statement of Seagate Technology, dated March 5, 2010) have not
occurred.

 

Section 2.02.        Governing Law.  THIS THIRD SUPPLEMENTAL INDENTURE SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK.

 

Section 2.03.        Trustee Makes No Representation.  The Trustee makes no representation as to the
validity or sufficiency of this Third Supplemental Indenture.

 

Section 2.04.        Severability Clause.  In case any provision of this Third
Supplemental Indenture shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

 

Section 2.05.        Counterparts.  The parties may sign any number of copies of
this Third Supplemental Indenture.  Each
signed copy shall be an original, but all of them together represent the same
agreement.

 

Section 2.06.        Definitions, Effect of Headings.  All capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Indenture.  The section headings herein are for
convenience only and shall not effect the construction thereof.

 

[Signature
Page Follows]

 

4

 

IN WITNESS WHEREOF, the
parties hereto have caused this Third Supplemental Indenture to be duly
executed as of the date first written above.

 

 

	
   

  	
  SEAGATE TECHNOLOGY
  INTERNATIONAL 

  as Issuer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  WELLS FARGO BANK, NATIONAL
  ASSOCIATION 

  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Maddy Hall

  
	
   

  	
   

  	
  Name:

  	
  Maddy Hall

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SEAGATE TECHNOLOGY 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  SVP, Secretary &
  General Counsel

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  MAXTOR GLOBAL LTD. 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SEAGATE TECHNOLOGY HDD
  HOLDINGS 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  Director

  

 

[Signature
Page to Third Supplemental Indenture]

 

 

	
   

  	
  SEAGATE TECHNOLOGY
  (IRELAND) 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SEAGATE TECHNOLOGY MEDIA
  (IRELAND) 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SEAGATE INTERNATIONAL
  (JOHOR) SDN. BHD. 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephen P. Sedler

  
	
   

  	
   

  	
  Name:

  	
  Stephen P. Sedler

  
	
   

  	
   

  	
  Title:

  	
  Assistant Secretary

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  PENANG SEAGATE INDUSTRIES
  (M) SDN. BHD. 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Patrick J. O’Malley
  III

  
	
   

  	
   

  	
  Name:

  	
  Patrick J. O’Malley III

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SEAGATE SINGAPORE
  INTERNATIONAL HEADQUARTERS PTE. LTD. 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Patrick J. O’Malley
  III

  
	
   

  	
   

  	
  Name:

  	
  Patrick J. O’Malley III

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SEAGATE TECHNOLOGY
  (THAILAND) LIMITED 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Patrick J. O’Malley
  III

  
	
   

  	
   

  	
  Name:

  	
  Patrick J. O’Malley III

  
	
   

  	
   

  	
  Title:

  	
  Director

  

 

[Signature
Page to Third Supplemental Indenture]

 

 

	
   

  	
  SEAGATE TECHNOLOGY (US) HOLDINGS,
  INC. 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  Secretary &
  General Counsel

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  i365 INC. 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  Assistant Secretary

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SEAGATE TECHNOLOGY LLC 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  SVP, Secretary &
  General Counsel

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SEAGATE HDD CAYMAN 

  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  Director

  

 

[Signature
Page to Third Supplemental Indenture]

 

 

GIVEN under the
Common Seal of

SEAGATE TECHNOLOGY PLC

as a Guarantor

in the presence of:

 

	
   

  	
  /s/
  Kenneth M. Massaroni

  
	
   

  	
  DIRECTOR

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/
  Patrick J. O’Malley III

  
	
   

  	
  DIRECTOR

  

 

 

	
  Witness signature:

  	
  /s/ Saralyn Brown

  	
   

  

Name: Saralyn Brown

Address: 920 Disc Drive,
Scotts Valley, CA 95066

Occupation: Executive
Assistant

 

[Signature
Page to Third Supplemental Indenture]amendmnt.htm

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    AMENDMENT
NO. 1 TO SECURITIES PURCHASE AGREEMENT

     

    This AMENDMENT NO. 1
TO  SECURITIES PURCHASE AGREEMENT (this “Amendment”) dated as of March
17, 2010, is by and among MISSION COMMUNITY BANCORP, a California corporation
(the “Company”), and
CARPENTER FUND MANAGER GP, LLC (the “Manager”) on behalf of and as
General Partner of each of the following investment-related limited
partnerships: Carpenter Community BancFund, L.P.; Carpenter Community
BancFund-A, L.P.; and Carpenter Community BancFund-CA, L.P. and amends that
Securities Purchase by and between the Company and the Manager dated as December
22, 2009 (the “Agreement”).

     

    RECITALS

     

    WHEREAS,
Section 8(b) of the Agreement provides that either the Manager or the Company
may terminate the Agreement if, without fault of the terminating party, the
First Closing (as defined in the Agreement) does not occur on or before March 1,
2010; and

     

    WHEREAS,
the Manager and the Company now wish to amend the Agreement to change such
date.

     

    NOW
THEREFORE, in consideration of the foregoing, the mutual covenants in the this
Amendment and the Agreement and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto
hereby agree as follows:

     

    AGREEMENT

     

    1.  Amendment.  Subsection
(b) of Section 8 of the Agreement is amended and restated in its entirety to
read as follows:

     

    “(b) By the Manager or by the Company,
if, without fault of the terminating party, the First Closing doesnot occur on or before May 30,
2010;”

     

    2.  Miscellaneous.

     

    (a)  Representations and
Warranties.  Each of the parties hereto represents and warrants
to the other that (i) such party has all necessary power and authority to
execute and deliver this Amendment, (ii) this Amendment has been duly and
validly executed and delivered by such party, and (iii) assuming the due
authorization, execution and delivery of this Amendment by the other party, this
Amendment constitutes the valid, binding agreement of such party, enforceable
against such party in accordance with its terms.

     

    (b)  No Other
Amendments.  Except as expressly amended hereby, all of the
terms and conditions of the Agreement shall continue in full force and
effect.

     

    (c)  No
Waiver.  The execution, delivery and effectiveness of this
Amendment shall not operate as a waiver of any right, power or remedy of either
party under the Agreement or any provision thereof, and each party expressly
reserves all such rights, power and remedies.

     

    (d)  Interpretation.  The
section headings contained in this Amendment are for convenience of reference
only and shall not affect in any way the meaning or interpretation of this
Amendment.

     

    (e)  Counterparts.  This
Amendment may be executed in one or more counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.

     

    
      
        
          3266.003/337542.1A/73313176.1

        

         

      

      
         

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the parties have caused this Amendment to be duly executed and
delivered as of the date first above written.

     

    
      	 
      	 
      	 
      	 
      
	 
      	
              MISSION
      COMMUNITY BANCORP

               

            
	 
      	
              By:

            	
              /s/
      Anita M.Robinson

            
	 
      	 
      	
              Anita
      M. Robinson,

            
	 
      	 
      	
              President
      and Chief Executive Officer

                   

            

    

    

    
      	 
      	
              CARPENTER
      FUND MANAGER GP, LLC,

              on
      behalf of, and as the General Partner of: Carpenter Community BancFund,
      L.P., Carpenter Community BancFund-A, L.P. and Carpenter Community
      BancFund-Ca, L.P.

               

            
	 
      	
              By:

            	
              /s/
      John D. Flemming

            
	 
      	
              Name:

            	
              John
      D. Flemming

            
	 
      	
              Title:

            	
              Managing
      Member

            

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

     

    Signature
Page to Amendment No. 1 to Securities Purchase Agreement

    
      
        
          3266.003/337542.1                                                                     

          A/73313176.1

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