Document:

Exhibit 4.39

Exhibit 4.39(1)

Execution Version

	 
	SHAREHOLDER LOAN AGREEMENT

Between

	 
	GIGAMEDIA ASIA PACIFIC LIMITED

And

	 
	INFOCOMM ASIA HOLDINGS PTE. LTD.

 

 

CONTENTS

	 	 	 	 	 
	1. INTERPRETATION
	 	 	1	 
	 
	 	 	 	 
	2. THE SHAREHOLDER LOAN
	 	 	3	 
	 
	 	 	 	 
	3. CONDITIONS TO DRAWDOWN
	 	 	4	 
	 
	 	 	 	 
	4. INTEREST
	 	 	4	 
	 
	 	 	 	 
	5. REPAYMENT
	 	 	5	 
	 
	 	 	 	 
	6. SECURITY AND SENIORITY
	 	 	5	 
	 
	 	 	 	 
	7. REPRESENTATIONS AND WARRANTIES
	 	 	6	 
	 
	 	 	 	 
	8. EVENT OF DEFAULT
	 	 	8	 
	 
	 	 	 	 
	9. TAXES
	 	 	10	 
	 
	 	 	 	 
	10. ASSIGNMENTS AND TRANSFERS
	 	 	10	 
	 
	 	 	 	 
	11. FORCE MAJEURE
	 	 	10	 
	 
	 	 	 	 
	12. AMENDMENTS
	 	 	11	 
	 
	 	 	 	 
	13. NOTICES
	 	 	11	 
	 
	 	 	 	 
	14. GOVERNING LAW AND DISPUTE RESOLUTION
	 	 	12	 
	 
	 	 	 	 
	15. GENERAL PROVISIONS
	 	 	13	 

 

i

 

THIS SHAREHOLDER LOAN AGREEMENT (the “Agreement”) is dated April 30,
2010 (the “Effective Date”) and made

BETWEEN:

	(1)	 	GIGAMEDIA ASIA PACIFIC LIMITED (the “Lender”), a company duly organised and
existing under the laws of the British Virgin Islands with its registered
office at Overseas Management Company Trust (B.V.I.) Ltd., OMC Chambers,
P.O.Box 3152, Road Town, Tortola, British Virgin Islands; and

	 
	(2)	 	INFOCOMM ASIA HOLDINGS PTE. LTD. (the “Borrower”), a company incorporated
in Singapore with its registered office at 28 Maxwell Road Red Dot Traffic
#04-01 Singapore 069120.

WHEREAS:

	(A)	 	The Borrower was established for the purpose of operating and distributing
online games in the South Asia region and making strategic investments in
operating hubs.

	 
	(B)	 	The Borrower, the Lender and other shareholders of the Borrower have
entered into a Shareholders Agreement in 2007 (as amended from time to time)
(the “Shareholders Agreement”) and the Lender has subscribed for 500,000 Class
B Shares of the Borrower representing 28.43% of the total issued and
outstanding shares in the Borrower as of the Effective Date.

	 
	(C)	 	Subject to the terms hereof, the Lender wishes to make available a loan
facility to the Borrower in a fixed aggregate principal amount of US$7,000,000
(the “Shareholder Loan”) and the Borrower wishes to borrow the Shareholder
Loan.

NOW THEREFORE, in consideration of the foregoing and the mutual promises, covenants and agreements
contained in this Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which are acknowledged expressly, the Parties hereby agree as follows:

	1.	 	INTERPRETATION

	1.1	 	Definitions

Unless otherwise defined in this Agreement, capitalized terms used in this Agreement shall
have the following meanings:

	 	 	 
	“Affiliate”

	 	means, with regard to a given Person (as defined
below), a Person that Controls (as defined below), is
Controlled by or is under common Control with the given
Person;
	 
	 	 
	“Agreement”

	 	means this Shareholder Loan Agreement entered into on
the date first written above between the Lender and the
Borrower, as the same may be supplemented and amended
from time to time in accordance with its terms;
	 
	 	 
	“Blizzard”

	 	Blizzard Entertainment International, a division of Coöperatie Activision Blizzard International U.A., a
co-operative association, with its corporate seat in

 

1

 

	 	 	 
	 

	 	Amsterdam and office address at Beechavenue 131 D, 1119
RB Schiphol-Rijk, The Netherlands, registered with the
Trade Register under number 34324431;

	 
	 	 
	“Blizzard Transaction
Documents”

	 	means any and all agreements entered into or to be
entered into in connection with the transactions with
Blizzard and to which the Borrower is a party;

	 
	 	 
	“Borrower”

	 	means Infocomm Asia Holdings Pte. Ltd. and its
successors and permitted assigns;
	 
	 	 
	“Business Day”

	 	means any day, other than Saturday or Sunday, on which
banks are open for business in the Hong Kong, Singapore
and the British Virgin Islands;
	 
	 	 
	“Control”

	 	means ownership of more than 50% of the voting
securities or interests in another Person, or the
ability to direct the management and policies of such
Person, directly or indirectly, whether through the
ownership of voting securities, by contract or
otherwise. The terms “Controlled” and “Controlling”
have meanings corresponding to the foregoing;
	 
	 	 
	“Drawdown Date”

	 	has the meaning ascribed thereto in clause 2.2;
	 
	 	 
	“Early Repayment Date”

	 	has the meaning ascribed thereto in clause 5.2;
	 
	 	 
	“Effective Date”

	 	has the meaning ascribed thereto in the introductory
paragraph;
	 
	 	 
	“Event of Default”

	 	has the meaning ascribed thereto in clause 8;
	 
	 	 
	“Event of Force Majeure”

	 	has the meaning ascribed thereto in clause 11.1;
	 
	 	 
	“Final Maturity Date”

	 	means the last day of the Term of the Shareholder Loan;
	 
	 	 
	“Hong Kong”

	 	means the Hong Kong Special Administrative Region of
the People’s Republic of China;
	 
	 	 
	“HKIAC”

	 	means the Hong Kong International Arbitration Center
and its successors;
	 
	 	 
	“Lender”

	 	means GigaMedia Asia Pacific Limited and its successors
and permitted assigns;
	 
	 	 
	“Party”

	 	means either the Lender or the Borrower; and “Parties”
shall mean both the Lender and the Borrower;

 

2

 

	 	 	 
	“Person”

	 	means any individual, corporation, partnership, limited
partnership, proprietorship, association, limited
liability company, firm, trust, estate or other
enterprise or entity;
	 
	 	 
	“Shareholders Agreement”

	 	has the meaning ascribed thereto in the preamble hereof;
	 
	 	 
	“Shareholder Loan”

	 	has the meaning ascribed thereto in the preamble hereof;
	 
	 	 
	“Term of the
Shareholder Loan”

	 	means a period of five years commencing on the Drawdown
Date.

	1.2	 	Construction of certain references

In this Agreement, where the context admits:

	 	(A)	 	all references in this Agreement to designated “clauses” and other subdivisions
are to the designated clauses and other subdivisions of the body of this Agreement;

	 	(B)	 	clause headings are included for convenience only and shall not affect the
interpretation of this Agreement;

	 
	 	(C)	 	terms defined in the singular include the plural and vice versa;

	 	(D)	 	any phrase introduced by the terms “including”, “include”, “in particular” or
any similar expression shall be construed as illustrative and shall not limit the sense
of the words preceding those terms; and

	 	(E)	 	all accounting terms not otherwise defined herein have the meanings assigned
under US generally accepted accounting principles.

	2.	 	THE SHAREHOLDER LOAN

	2.1	 	Subject to the terms of this Agreement, the Lender hereby agrees to advance the Shareholder
Loan to the Borrower.

	2.2	 	Subject to clause 3, the Drawdown Date shall be the date which is three (3) Business Days
after the Effective Date. The Borrower shall issue a drawdown notice to the Lender no later
than two (2) Business Days prior to the Drawdown Date.

	2.3	 	During the Term of this Agreement, unless expressly agreed by the Parties otherwise, the
amount of the Shareholder Loan shall be fixed and shall not be changed whatsoever.

	2.4	 	The Borrower shall apply up to US$7 million of the Shareholder Loan towards meeting its
working capital requirements and to repay any loans provided by the directors of the Borrower.

 

3

 

	3.	 	CONDITIONS TO DRAWDOWN

Notwithstanding anything to the contrary expressed or implied in this Agreement, the
Lender’s obligation to make the Shareholder Loan available to the Borrower is subject to the
satisfaction of each of the following conditions:

	 	(A)	 	All corporate and other proceedings in connection with the Shareholder Loan
contemplated by this Agreement shall be in form and substance satisfactory to the
Lender, and the Lender shall have received all such original or certified or other
copies of such documents as it may reasonably request, including without limitation, a
resolution of the board of directors of the Borrower approving their acceptance of the
terms of this Agreement and authorising and directing the Borrower to duly execute and
deliver this Agreement and any other related documents;

	 	(B)	 	Not later than the second (2) Business Day before the proposed Drawdown Date in
a drawdown notice, the Lender shall have received a drawdown notice for the Shareholder
Loan duly signed and approved by the Borrower;

	 	(C)	 	The representations and warranties of the Borrower contained herein shall be
true on and as of the proposed Drawdown Date, except to the extent that such
representations and warranties relate solely to an earlier date (in which case such
representations and warranties shall be true and accurate on and as of such earlier
date). The Borrower shall have performed or observed all covenants, agreements and
conditions contained herein required to be performed or observed by the Borrower on or
before the proposed Drawdown Date; and

	 
	 	(D)	 	No Event of Default shall have occurred and be continuing.

	4.	 	INTEREST

	4.1	 	Unless additional interest accrues per clause 5.4, the Borrower shall pay interest in respect
of the entire outstanding unpaid principal balance of the Shareholder Loan at a rate of three
percent (3%) per annum (“Interest Rate”) for the period commencing on (and including) the
Drawdown Date and ending on (but excluding) Final Maturity Date. Interest shall be payable on
the outstanding balance of the Shareholder Loan until the Shareholder Loan is paid in full.

	4.2	 	In no contingency or event shall interest charged hereunder, however such interest may be
characterized or computed, exceed the highest rate permissible under any law deemed applicable
to this Agreement (the “Maximum Rate”). In the event that it is determined that the rate of
interest charged hereunder exceeded the Maximum Rate during any period or periods, the rate of
interest hereunder for such period or periods shall be deemed to have been the Maximum Rate,
and the rate of interest hereunder shall be deemed to have continued to be and shall continue
to be the Maximum Rate for such period as is necessary for the total amount of interest paid
or accrued hereunder to equal the amount of interest that would have been paid or accrued
hereunder had the interest rate hereunder at all times remained as provided in the preceding
subsections of this Clause 4. If, notwithstanding the foregoing interest rate adjustment, it
is determined that the Lender has received interest in excess of the Maximum Rate, any such
excess shall (i) first, be applied to any unpaid costs and expenses owed to the Lender under
this Agreement or any other loan document and to the unpaid principal amount of the
Shareholder Loan and

 

4

 

(ii) second, be refunded to the Borrower.

	5.	 	REPAYMENT

	5.1	 	Unless otherwise agreed by the Parties, the Borrower shall pay the aggregate principal amount
of the Shareholder Loan plus any interest accrued thereon to the Lender in US dollars in
immediately available funds on the Final Maturity Date. Where the Final Maturity Date shall
be on a day which is not a Business Day, the date for repayment shall be extended to the next
following Business Day.

	5.2	 	If the Lender sells or transfers all of its equity interest in the Borrower in accordance
with the Shareholders Agreement without concurrently assigning all of its rights and
obligations under this Agreement, the aggregate principle amount of the Shareholder Loan shall
become due and payable on the date on which such sale or transfer of the Lender’s equity
interest shall become effective (“Early Repayment Date”).

	5.3	 	Unless otherwise provided herein, the Borrower shall not repay any part of the aggregate
principal amount of the Shareholder Loan prior to the Final Maturity Date without the Lender’s
prior written consent.

	5.4	 	If any amount due under this Agreement is not paid five (5) Business Days after the Final
Maturity Date or the Early Repayment Date (as the case may be), in addition to the interest
accrued and payable per clause 4.1, the Borrower shall pay an additional interest on such
amount unpaid at the rate of 2.5% above interest rate as set forth in Clause 4 per annum, up
to (but excluding) the date on which such amount is paid in full.

	6.	 	SECURITY AND SENIORITY

	6.1	 	The Borrower undertakes and warrants to the Lender that all payment obligations under this
Agreement shall constitute unconditional, direct, general payment obligations of the Borrower
and shall rank at all times senior to all other existing and future unsecured, subordinated
payment obligations of the Borrower, except if otherwise expressly prohibited by applicable
mandatory law or if otherwise expressly agreed to by the Lender. In respect of any such other
payment obligations and to effect the preceding subordination undertaking, upon request, the
Borrower shall execute (and/or cause to be executed) a Subordination Agreement in form and
substance satisfactory to the Lender.

	6.2	 	The Borrower undertakes and warrants to the Lender that all payment obligations of Borrower
to Lender under this Agreement are secured:

	 	(A)	 	by a senior security interest granted to the Lender by the Borrower in the
Borrower’s net profit generated by all the games operated by the Borrower and its
subsidiaries and all games developed or licensed by the Borrower, whether now owned or
hereafter generated, including without limitation the accounts, documents, money, and
all of the Borrower’s books and records with respect to the foregoing; and

	 	(B)	 	by a senior security interest granted to Lender by the Borrower in the assets,
properties and interests of the Borrower and its subsidiaries, including but not
limited to the receivables, equipment, and any intellectual property the Borrower owns.

To effect the grant of the senior security interest, upon request, the Borrower shall
execute (and/or cause to be executed) (i) a Security and Pledge Agreement in form and
substance

 

5

 

satisfactory to the Lender and (ii) a Subordination Agreement whose form and substance shall
be satisfactory to the Lender.

	6.3	 	Notwithstanding clauses 7.2(D) and 7.3(C), the Borrower undertakes and warrants to the Lender
that, except as expressly permitted by the Lender no other loans or payment obligations of any
type will be secured by any asset, profit or interests of the Borrower without the written
permission of the Lender. To the extent any loan or payment obligation is permitted by Lender
to be so secured, as a condition precedent to the Lender’s permission, the Borrower shall (A)
obtain the Lender’s approval of the underlying security and pledge agreement and (B) execute
(and/or cause to be executed) a Subordination Agreement whose form and substance shall be
satisfactory to the Lender.

	6.4	 	The Borrower undertakes and warrants to do/execute (and to cause to be done/executed), and
refrain from doing/executing (and to cause the refraining from doing/executing) any and all
actions or documents necessary or appropriate, in the Lender’s sole discretion, in order to
effect the Parties’ intents and purposes as set out in this Clause 6.

	7.	 	REPRESENTATIONS AND WARRANTIES

	7.1	 	Representations and Warranties of the Parties

Each Party represents and warrants to the other Party, as of the Effective Date of this
Agreement:

	 	(A)	 	Such Party is duly organised, validly existing and in good standing under the
laws of the jurisdiction in which it purports to be organized and existing and has the
corporate power to own its assets and to carry on its business as now conducted;

	 	(B)	 	Such Party has the corporate power to enter into, exercise its rights and
perform and comply with its obligations under this Agreement and each other agreement
contemplated herein, all of which have been duly authorized by all proper and necessary
corporate actions;

	 	(C)	 	Such Party has taken, fulfilled and done all actions, conditions and things,
required by law to be taken, fulfilled and done (including the obtaining of any
required consents, approvals, authorizations or exemptions or making the necessary
filings, recordings or registrations) so that (i) it may lawfully enter into, exercise
its rights and perform and comply with its obligations under this Agreement and each
other agreement contemplated herein, and (ii) upon execution by all relevant parties
and with due registration, such obligations are legally binding and enforceable in
accordance with the applicable terms; and

	 	(D)	 	The entry into, exercise of such Party’s rights and/or performance of or
compliance with its obligations under this Agreement and each other agreement
contemplated herein do not and will not violate (i) any law to which it is subject,
(ii) its articles of association, or (iii) any of its other constitutional documents.

	7.2	 	Representations and Warranties of the Borrower

The Borrower further represents and warrants to the Lender, as of the Effective Date of this
Agreement and the Drawdown Date (as applicable), that all times while the Shareholder Loan
remains outstanding:

 

6

 

	 	(A)	 	There are no pending or threatened legal proceedings, lawsuits, arbitration
proceedings, administrative proceedings or other governmental or court proceedings, or
governmental or court orders, injunctions, judgements or awards, or arbitral awards to
which it is a party or by which it or any of its properties or assets is or may be
bound or affected to any material extent;

	 
	 	(B)	 	No Event of Default in respect of the Borrower has occurred and is continuing;

	 	(C)	 	No default has occurred and is continuing under any other agreement to which it
is a party or by which it or any of its properties or assets may be bound or affected
and which materially and adversely affect its business, financial condition or
operations or its ability to perform its obligations under this Agreement and the
Shareholder Loan; and

	 	(D)	 	It has good and marketable title to the properties and assets owned by it and
material to its business, and such properties and assets are subject to no lien of any
nature whatsoever except encumbrances to title which in the aggregate do not materially
adversely affect the use, proposed use or value of the property or other assets of it.

	7.3	 	Covenants of the Borrower

	 	(A)	 	The Borrower shall maintain its legal and effective corporate existence and be
in compliance with all laws and regulations applicable to the Borrower and pay all
taxes and duties levied on the Borrower by the governmental authorities.

	 	(B)	 	The Borrower shall as soon as possible inform the Lender by notice in writing
of the occurrence of any of the following:

	 	(i)	 	any Event of Default in respect of the Borrower; or

	 	(ii)	 	any event which has or may result in a material adverse effect on
the Borrower’s ability to perform its obligations hereunder.

	 	(C)	 	Except for the pledges expressly permitted in (and effected in accordance with)
Clause 6, the Borrower shall not mortgage, pledge or otherwise encumber or permit to
exist any lien over any of its current or future properties, assets, interests or
profits during the Term of the Shareholder Loan without an express consent by the
Lender in writing. The Lender acknowledges it is fully aware of the Blizzard
Transaction Documents entered into by the Company and Blizzard, including in particular
the charge over the shares in Monsoon Online Pte. Ltd. granted to Blizzard.

	 	(D)	 	The Borrower shall not sell, transfer or otherwise dispose of, by one or more
transactions or series of transactions, whether related or not, all or any part of its
business or (except for good consideration in the ordinary course of its business) its
assets or revenues without an express consent by the Lender in writing (other than the
sale of the shares in Spring Asia Limited to the Lender).

	 	(E)	 	The Borrower shall not take any step in relation to merger, consolidation,
demerger, winding-up, administration, liquidation, bankruptcy, dissolution or other
activities of similar nature without an express consent by the Lender in writing.

	 	(F)	 	The Borrower shall immediately inform the Lender in writing of any amendment or

 

7

 

	 	 	 	supplement made from time to time to its constitutional documents, and shall ensure
that no amendment or supplement with any potential adverse effect to the rights and
interests of the Lender will be made to its constitutional documents without an
express consent by the Lender in writing.

	 	(G)	 	The Borrower shall, at its own cost and expense, at all times during the Term
of the Shareholder Loan, take out and maintain full and adequate insurance against
losses or damage by fire, and such other risks as are customarily insured against,
including but not limited to public liability insurance.

	 	(H)	 	The Borrower shall comply with all procedures and requirements of applicable
regulations of the Singapore in connection with any drawdown or repayment under this
Agreement.

	8.	 	EVENT OF DEFAULT

	8.1	 	Events of Default. Each of the following events and occurrences shall constitute an “Event
of Default” under this Agreement:

	 	(A)	 	The Borrower fails to repay the aggregate principal amount of the Shareholder
Loan plus interest accrued but unpaid within five (5) Business Days after the Final
Maturity Date or the Early Repayment Date, as the case may be;

	 	(B)	 	The Borrower fails to observe or perform any of its other obligations contained
in this Agreement (or any transaction contemplated hereby) for thirty (30) days after
written notice thereof has been given to the Borrower;

	 	(C)	 	Any representation, warranty or covenant made by the Borrower in or in
connection with this Agreement (or any transaction contemplated hereby) or any document
provided by or on behalf of it hereunder or thereunder proves to have been incorrect or
misleading or breached in any substantial respect when made;

	 	(D)	 	The Borrower fails to comply with or perform any final and effective judgement
or order made or given by any court of competent jurisdiction; or the Borrower fails to
pay any final and effective judgement or order made or given by any court of competent
jurisdiction;

	 	(E)	 	The Borrower fails to observe or perform any of its obligations under the
Shareholders Agreement and any other agreements entered into by and between the
Borrower and the Lender;

	 	(F)	 	Any consents, approvals, authorizations or exemptions required for the
performance or enforceability of the obligations of the Borrower under this Agreement
(or any transaction contemplated hereby) expires, is not renewed on substantially
similar terms and conditions upon expiration or is terminated, revoked or modified, and
any such event may have a material adverse effect on the Borrower’s ability to perform
its obligations hereunder;

	 	(G)	 	Any provision of this Agreement (or of documents for any transaction
contemplated hereby) is or is declared to be null and void, or the validity or
enforceability thereof is contested by the Borrower, or a proceeding is commenced by
any governmental agency or authority having jurisdiction over the Borrower seeking to
establish the invalidity or unenforceability thereof, or the Borrower denies that it
has any or further liability or obligation under this Agreement (or under documents for
any

 

8

 

	 	 	 	transaction contemplated hereby);

	 	(H)	 	The Borrower, pursuant to relevant Singapore bankruptcy or insolvency laws and
regulations, enters into any compromise or arrangement with its creditors as a whole,
declares itself bankrupt or insolvent, any competent court accepts a petition to have
it declared bankrupt or insolvent, an order is made or an effective resolution is
passed for its winding up (except for the purposes of amalgamation or reconstruction as
a solvent company), or a receiver, custodian, trustee, administrative receiver or
administrator is appointed in respect of the whole or any material part of the
Borrower’s undertaking or assets;

	 	(I)	 	If any distress, execution or other process is levied upon any material part of
the assets of the Borrower and the Borrower is unable to carry out its business in the
ordinary course;

	 	(J)	 	the Borrower shall default in the performance of any other agreement, term or
condition contained in any agreement under which any monetary obligation is created,
and as a result of the Borrower’s default such obligation has become due prior to its
stated maturity and the result of an event specified in this clause is to accelerate or
permit the acceleration of any such obligation in excess of $100,000.

	 	(K)	 	If any other event occurs in relation to the Borrower which, under the laws of
any applicable jurisdiction, has an effect upon the Borrower equivalent or analogous to
any of the events referred to in clauses 8.1(H) to (I) above;

	 	(L)	 	If any “change of control” of the Borrower has occurred. In respect of the
Borrower, a “Change of Control” shall be deemed to have occurred upon the acquisition
of at least fifty percent (50%) of the equity interest in the Borrower by any Person
other than an existing shareholder of the Borrower;

	 	(M)	 	If an “event of default” occurs under any of Blizzard Transaction Documents (as
the term “event of default” is defined thereunder); and

	 	(N)	 	At any time it is or becomes unlawful for the Borrower to perform or comply
with any or all of its obligations under this Agreement (or any transaction
contemplated hereby) or any of the obligations of the Borrower hereunder (or
thereunder) are not or cease to be legal, valid and enforceable.

	8.2	 	Remedies

	 	(A)	 	If an Event of Default has occurred and is continuing, the Lender may take one
or more of the following actions:

	 	(i)	 	prior to the Drawdown Date, by notice to the Borrower, declare
that the Shareholder Loan to be made to the Borrower shall be cancelled; and

	 	(ii)	 	on or after the Drawdown Date, by notice to the Borrower, declare
the aggregate principal amount of the Shareholder Loan plus interest accrued to
be immediately due and payable, whereupon such amount will become forthwith due
and payable without presentment, protest, demand or other notice all of which
are hereby waived.

	 	(B)	 	If an Event of Default has occurred and is continuing, the Lender, in addition
to the rights set forth above, will have all the other rights and remedies under
applicable

 

9

 

	 	 	 	law.

	 	(C)	 	The Lender may exercise the rights described in this clause 8.2 at any time
after the occurrence and during the continuance of an Event of Default, whether or not
the aggregate principal amount of the Shareholder Loan has become due and payable.

	9.	 	TAXES

The Borrower shall from time to time pay all applicable taxes and other charges in
connection with or attributable to this Agreement and each and every transaction
contemplated under this Agreement, as required by applicable laws and regulations.

	10.	 	ASSIGNMENTS AND TRANSFERS

	10.1	 	This Agreement shall be binding on each Party hereto and their respective successors and
assignees and remain in force.

	10.2	 	The Borrower shall not assign, transfer, novate or dispose all or any of its rights and/or
obligations under this Agreement without prior written consent of the Lender.

	10.3	 	The Borrower hereby agrees that notwithstanding the grant of prior written consent to an
assignment by the Lender, it shall remain jointly and severally liable for the obligations
which it has assigned in accordance with clause 10.2.

	10.4	 	If the Lender sells or transfers all of its equity interest in the Borrower to any third
party purchaser in accordance with the Shareholders Agreement, any and all declared but unpaid
dividends on the date of such sale or transfer shall all become due and payable:

	 	(A)	 	the Lender shall have the right to concurrently assign, transfer, novate or
dispose all of its rights and obligations under this Agreement, OR

	 	(B)	 	concurrently with such sale or transfer, the aggregate principal amount and
interest accrued but unpaid of the Shareholder Loan shall become due and payable.

	10.5	 	The Borrower undertakes to take all necessary action and execute all documents reasonably
required by the Lender in connection with such assignment, transfer, novation or disposal.

	11.	 	FORCE MAJEURE

	11.1	 	General

Neither Party shall be liable to the other Party to any extent, in damages or
otherwise, as a result of its failure to perform its obligations under this Agreement due to
any event beyond its reasonable control, including but not limited to, war, national
emergency, epidemic, fire, strikes or lock-outs or any other form of industrial action,
insurrection or riots or the requirements or regulations of any civilian or military
authority (for the purpose of this clause an “Event of Force Majeure”).

	11.2	 	Notice

A Party affected by any Event of Force Majeure shall promptly send the other Party a

 

10

 

notice in writing relating thereto, setting out a description of such Event of Force
Majeure and reasons for its non-performance.

	11.3	 	Resuming the performance of obligations

	 	(A)	 	A Party affected by an Event of Force Majeure shall inform the other Party of
any relevant progress from time to time, and take all necessary actions to prevent,
limit or reduce the losses and consequences caused by or in connection with the
suspension of its performance, and shall use its best efforts to avoid, reduce or
eliminate the impact of such Event of Force Majeure.

	 	(B)	 	A Party affected by an Event of Force Majeure shall resume its performance as
soon as practicable.

	12.	 	AMENDMENTS

No amendment or modification of any provision of this Agreement shall be effective
unless it is in writing and signed by both Parties.

	13.	 	NOTICES 

All notices, requests, demands and other communications to be given or delivered under or by
reason of this Agreement shall be in writing (which shall include notice by facsimile or
like transmission) and shall be deemed given:

	 	(A)	 	if delivered by hand, on the day it is delivered, or on the next Business Day
if delivery is made on a non-Business Day or after the business hours of a Business
Day;

	 	(B)	 	if sent by facsimile, on the day when transmittal confirmation is received, or
on the next Business Day if the facsimile is transmitted on a non-Business Day or after
the business hours on a Business Day;

	 	(C)	 	if sent by certified or registered air mail, on the seventh Business Day
following its being deposited at a local postal service provider for mailing if the
address of the addressee for notice is in the same country as the place of mailing, or
otherwise, on the tenth Business Day following its being deposited at a local postal
service provider for mailing,

	 
	 	 	 	to the Parties at the following addresses (or addresses as notified by the Parties in
writing from time to time):

	 	 	 
	For Lender:

	 	GigaMedia Asia Pacific Limited
	Address

	 	The Centrium, 22/F, 60 Wyndham Street,

Central, Hong Kong
	Facsimile Number

	 	+852 3166 9835
	Telephone Number

	 	+852 3166 9831
	Attention

	 	CEO
	 
	 	 
	With copies to:

	 	GigaMedia Limited

 

11

 

	 	 	 
	Address

	 	The Centrium, 22/F, 60 Wyndham Street,

Central, Hong Kong
	Telephone Number

	 	+852 3166 9835
	Facsimile Number

	 	+852 3166 9831
	Attention:

	 	General Counsel
	 
	 	 
	For Borrower:

	 	Infocomm Asia Holdings Pte. Ltd.
	Address

	 	28 Maxwell Road Red Dot Traffic #04-01 Singapore 069120
	Facsimile Number

	 	+65 6898 8881
	Telephone Number

	 	+65 6898 8881
	Attention:

	 	CEO

	14.	 	GOVERNING LAW AND DISPUTE RESOLUTION

	14.1	 	Governing law

Matters regarding the execution, validity, interpretation and performance of this Agreement
as well as settlements of disputes arising hereunder, shall be governed by the published and
publicly available laws and regulations of Hong Kong and the treaties and other
international agreements to which Hong Kong is a party.

	14.2	 	Dispute Resolution

	 	(A)	 	The Parties shall try to resolve any dispute, controversy or claim arising out
of or in connection with this Contract through friendly consultations between the
Parties. But, if no settlement is reached within thirty (30) days from the date one
Party notifies the other Party in writing of its intention to submit the dispute,
controversy or claim to arbitration in accordance with this Article, then any such
dispute, controversy or claim arising out of or relating to this Contract, or the
breach, termination or invalidity thereof, shall be settled by arbitration by the HKIAC
in accordance with the UNCITRAL Arbitration Rules as at present in force and as may be
amended by the rest of this Article. The arbitration will be administered by HKIAC in
accordance with HKIAC Procedures for Arbitration in force at the date of this Contract
including additions to the UNCITRAL Arbitration Rules as are therein contained.

	 	(B)	 	The place of arbitration shall be in Hong Kong at the HKIAC. The arbitration
proceedings will be conducted in English. The arbitration panel will consist of three
(3) members. Each Party shall select one (1) arbitrator. The presiding arbitrator
shall be selected by agreement between the arbitrators selected by the Parties or,
failing agreement within ten (10) days of the appointment of the two (2)
Party-nominated arbitrators, by the Chairperson of the HKIAC. The arbitration award
shall be final and binding on the Parties, and the Parties agree to be bound thereby
and to act accordingly. The costs of arbitration and the costs of enforcing the
arbitration award (including witness expenses and reasonable attorneys’ fees) shall be
borne by the losing Party, unless otherwise determined by the arbitration award.

	 	(C)	 	In any arbitration proceeding, any legal proceeding to enforce any arbitration
award and in any legal action between the Parties pursuant to or relating to this

 

12

 

	 	 	 	Agreement, each Party expressly waives any defence based on the fact or allegation
that it is an agency or instrumentality of a sovereign state.

	 	(D)	 	Any award of the arbitrators may be enforced by any court having jurisdiction
over the Party against which the award has been rendered, or wherever assets of that
Party are located, and shall be enforceable in accordance with the New York Convention
on the Recognition and Enforcement of Foreign Arbitral Awards (1958).

	15.	 	GENERAL PROVISIONS

	15.1	 	Language

	 
	 	 	This Agreement is written in English.

	 
	15.2	 	Further assurances

Each Party shall do and perform, or cause to be done and performed, all such further acts
and things and shall execute and deliver all such other agreements, certificates,
instruments and documents as the other Party may reasonably request to give effect to the
terms and intent of this Agreement, including, without limitation, seeking relevant
government approvals or registrations (if required).

	15.3	 	Entire agreement

This Agreement, together with the exhibits and the schedules hereto, constitutes the entire
agreement among the Parties with respect to the subject matter hereof and supersedes all
prior written or oral understandings or agreements (except for untrue or fraudulent
statements). Each Party has only relied on the representations, warranties, understandings
and specifications contained in this Agreement in reaching its decision to execute this
Agreement and to enter into the transactions contemplated hereby.

	15.4	 	Severability

If any provision of this Agreement shall be held invalid, illegal, voidable,
unenforceable or unconscionable, to any extent by any court, tribunal or governmental
authority with competent jurisdiction, such parts shall be deemed as having been severed
from this Agreement and the remainder of this Agreement shall continue to be effective. If
any provision is deemed unenforceable, both Parties shall replace it with a similar
provision agreed on through negotiation to reflect the original intention of the Parties to
the greatest extent permitted by law.

	15.5	 	Exclusive remedies

The remedies in this Agreement shall be the sole and exclusive remedies of the Parties with
respect to the subject matter hereof.

	15.6	 	No waiver

A Party’s failure to exercise, exercise with delay or exercise in part its rights under this
Agreement, shall not be deemed to constitute a waiver of its other rights or all rights
under this Agreement. A Party’s waiver of its rights in respect of a breach by the other
Party of this Agreement in one particular situation shall not be deemed to have waived such
Party’s rights against the other Party for a similar breach of this Agreement in other
situations.

 

13

 

	15.7	 	Counterpart execution

This Agreement 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.

	15.8	 	No third party beneficiary

Except to the extent otherwise expressly provided herein, nothing in this Agreement is
intended to confer upon any Person other than the Parties hereto and their respective
permitted successors and assigns any rights, benefits or obligations hereunder.

	15.9	 	Costs

Each Party shall, subject to Clause 9, pay its own costs relating to the negotiation,
preparation, execution and implementation by it of this Agreement and of any documents
referred to in it.

[Remainder of this page intentionally left blank]

 

14

 

This Agreement is executed by the authorized representatives of each Party as of the date first
written above.

	 
	GIGAMEDIA ASIA PACIFIC LIMITED

	 	 	 	 	 
	By:

	 	 
 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	INFOCOMM ASIA HOLDINGS PTE. LTD.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 

 

 

Exhibit
4.39(2)

Execution Version

Amendment to Shareholder Loan Agreement

This Amendment to Shareholder Loan Agreement (this “Amendment”) is entered into as of June 1, 2010
by and between (1) GigaMedia Asia Pacific Limited (IBC Number 1068168), a company incorporated in
the British Virgin Islands and having its registered office at Overseas Management Company Trust
(B.V.I.) Ltd., OMC Chambers, P.O. Box 3152, Road Town, Tortola, British Virgin Islands (the
“Lender”) and (2) Infocomm Asia Holdings Pte. Ltd. (Company Registration Number 200414772H), a
company incorporated in Singapore and having its registered office at 28 Maxwell Road, #04-01 Red
Dot Traffic, Singapore 069120 (the “Borrower”) and amends that certain Shareholder Loan Agreement
dated as of April 30, 2010 (the “Shareholder Loan Agreement”) entered into by and between the
Lender and the Borrower under which the Lender agrees to make available a loan facility to the
Borrower in a fixed aggregate principal amount of US$7,000,000 (the “Shareholder Loan”) and the
Borrower agrees to borrow the Shareholder Loan subject to the terms and conditions set out
therein.

The parties hereby agree as follows:

1. Definitions. Unless otherwise defined herein, all capitalized terms used and not
defined in this Amendment shall have the meaning assigned to such terms in the Shareholder Loan
Agreement.

2. Amendments.

	2.1	 	A new definition is inserted after the definition of “Blizzard” in Clause 1.1 and before the
definition of “Blizzard Transaction Documents” as follows:

“Blizzard Share Charge Agreement means the security over shares agreement dated April 30,
2010 between the Borrower and Blizzard, as amended, varied, novated or supplemented from
time to time;”

	2.2	 	A new definition is inserted after the definition of “Business Day” in Clause 1.1 and before
the definition of “Control” as follows:

“Charged Portfolio has the meaning ascribed thereto in the Blizzard Share Charge
Agreement;”

	2.3	 	Clause 6.2(B) of the Shareholder Loan Agreement is hereby deleted in its entirety and
replaced by the following:

“(B) by a senior security interest granted to Lender by the Borrower in the assets,
properties and interests of the Borrower and its subsidiaries (excluding the Charged
Portfolio), including but not limited to the receivables, equipment, and any intellectual
property the Borrower owns.”

3. Effect of Amendment. Except as expressly modified in this Amendment, all other terms
and conditions contained in the Shareholder Loan Agreement shall remain in full force and effect.
Except as expressly provided herein, nothing in this Amendment will be construed as a waiver of
any of the rights or obligations of the parties under the Shareholder Loan Agreement.

 

 

 

4. Representations and Warranties. Each party hereto represents and warrants to the other
party hereto that this Amendment has been duly authorized, executed and delivered by it and
constitutes a valid and legally binding agreement with respect to the subject matter contained
herein.

5. Notices. Clause 13 (Notices) of the Shareholder Loan Agreement is hereby incorporated
into this Amendment by this reference.

6. Governing Law and Dispute Resolution. Clause 14 (Governing Law and Dispute Resolution)
of the Shareholder Loan Agreement, as replaced by this Amendment, is hereby incorporated into this
Amendment by this reference.

7. Entire Agreement. This Amendment contains the entire agreement among the parties with
respect to the subject matter of this Amendment and supersedes and extinguishes all prior
agreements and understandings, oral or written, with respect to such matter.

8. Retrospective Effectiveness. Upon its execution by the parties hereto, this Amendment
shall take effect retrospectively from April 30, 2010.

 

- 2 -

 

IN WITNESS WHEREOF, the parties have entered into this Amendment effective as of the date set
forth above.

	 	 	 	 	 
	INFOCOMM ASIA HOLDINGS PTE. LTD.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	GIGAMEDIA ASIA PACIFIC LIMITED	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

[SIGNATURE PAGE TO AMENDMENT TO 7M SHAREHOLDER LOAN AGREEMENT]Exhibit 4.40

Exhibit 4.40

Execution Version

LOAN ASSIGNMENT AGREEMENT

among

GIGAMEDIA ASIA PACIFIC LIMITED

and

INFOCOMM ASIA HOLDINGS PTE. LTD.

and

SPRING ASIA LIMITED

relating to

ASSIGNMENT OF SHAREHOLDER LOAN AGREEMENT

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	1. DEFINITIONS AND INTERPRETATIONS
	 	 	3	 
	 
	 	 	 	 
	2. ASSUMPTION OF RIGHTS AND INTERESTS
	 	 	4	 
	 
	 	 	 	 
	3. REPRESENTATIONS AND WARRANTIES
	 	 	4	 
	 
	 	 	 	 
	4. TERMINATION
	 	 	5	 
	 
	 	 	 	 
	5. MISCELLANEOUS
	 	 	5	 
	 
	 	 	 	 
	APPENDIX 1
	 	 	9	 
	 
	 	 	 	 
	APPENDIX 2
	 	 	10	 

 

2

 

	 
	THIS LOAN ASSIGNMENT AGREEMENT (“Agreement”) is dated June 1, 2010 (the
“Effective Date”) and made

AMONG:

	(1)	 	GIGAMEDIA ASIA PACIFIC LIMITED (the “Lender”), a company duly organised and
existing under the laws of the British Virgin Islands with its registered
office at Overseas Management Company Trust (B.V.I.) Ltd., OMC Chambers,
P.O.Box 3152, Road Town, Tortola, British Virgin Islands;

	 
	(2)	 	INFOCOMM ASIA HOLDINGS PTE. LTD. (the “Borrower”), a company incorporated
in Singapore with its registered office at 28 Maxwell Road Red Dot Traffic
#04-01 Singapore 069120; and

	 
	(3)	 	SPRING ASIA LIMITED (Certificate of Incorporation No. LL017149) (the
“Assignee”), a company duly organised and existing under the laws of Labuan
with its registered office at Lot 2 & 3, Level 3, Wisma Lazenda Jalan Kemajuan,
87000 Federal Territory of Labuan.

BACKGROUND:

	(A)	 	WHEREAS, the Lender and the Borrower entered into the Shareholder Loan
Agreement (as defined below) pursuant to which the Lender advanced a loan
facility to the Borrower in an principal amount of US$7,000,000 (the “Loan”);

	 
	(B)	 	WHEREAS, the Lender and the Borrower entered into the Amendment to
Shareholder Loan Agreement (as defined below); and

	 
	(C)	 	WHEREAS, the Lender desires to assign and transfer to the Assignee, and
the Assignee wishes to accept the assignment and transfer from the Lender of,
all of the Lender’s rights and interests as a lender under the Shareholder
Loan Agreement.

THEREFORE, the Parties hereby agree as follows:

	1.	 	DEFINITIONS AND INTERPRETATIONS

	1.1	 	Definitions

“Amendment to Shareholder Loan Agreement” means the Amendment to Shareholder Loan
Agreement dated June 1, 2010 between the Lender and the Borrower, as the same may be
supplemented and amended from time to time in accordance with its terms, a copy of which is
attached hereto as appendix 2;

“Assignment” shall have the meanings ascribed to it in clause 2.1;

“Business Day” means a day, other than Saturday or Sunday, on which commercial banks
are open for business in the Singapore, Labuan and Taiwan;

“HKIAC” means Hong Kong International Arbitration Centre or its successor;

 

3

 

“Hong Kong” means the Hong Kong Special Administrative Region of the People’s
Republic of China;

“Loan” shall have the meanings set forth in paragraph A of the Recitals;

“Party” means the Lender, the Assignee or the Borrower respectively;
“Parties” means the Lender, the Assignee and the Borrower collectively;

“Person” means any individual, corporation, partnership, limited partnership,
proprietorship, association, limited liability company, firm, trust, estate or other
enterprise or entity;

“Shareholder Loan Agreement” means the Shareholder Loan Agreement dated April
30, 2010 between the Lender and the Borrower, as the same may be supplemented and amended
from time to time in accordance with its terms, a copy of which is attached hereto as
appendix 1; and

“US$” shall mean the lawful currency of the United States of America.

	1.2	 	The headings and sub-headings in this Agreement are inserted for convenience only and shall
not affect the interpretation of this Agreement.

	2.	 	ASSUMPTION OF RIGHTS AND INTERESTS

	2.1	 	Effective as of the Effective Date, the Lender hereby assigns and transfers to the Assignee
all of its rights and interests as the lender under the Shareholder Loan Agreement and the
Amendment to Shareholder Loan Agreement (the “Assignment”). Such assigned and
transferred rights and interests include but not limited to its rights and interests with
respect to the outstanding principal amount of US$7,000,000 and the interest accruing in
accordance with the Shareholder Loan Agreement and the Amendment to Shareholder Loan Agreement
on and after the Effective Date.

	2.2	 	Effective as of the Effective Date, the Borrower accepts the Assignment and assumes and
agrees to perform toward the Assignee, as and when due, any and all obligations of the
Borrower under the Shareholder Loan Agreement and the Amendment to Shareholder Loan Agreement.

	3.	 	REPRESENTATIONS AND WARRANTIES

Each Party, severally and not jointly, represents and warrants that:

	 	(A)	 	It is a duly organised and validly existing legal person in good standing under
the laws of its jurisdiction of incorporation or establishment.

	 	(B)	 	It possesses full power and authority to enter into this Agreement and to
perform its obligations hereunder and thereunder.

	 	(C)	 	The execution and performance of this Agreement will not constitute a breach or
violation of any material contract or agreement to which it is a party.

 

4

 

	 	(D)	 	It is in compliance with all material laws, regulations and governmental
orders, and all interpretations thereof, of all governmental authorities having
jurisdiction over it, its business, finances, operations, property or any other matter.

	 	(E)	 	Its representative, whose signature is affixed hereto, has been fully
authorised to sign this Agreement on its behalf pursuant to a valid power of attorney
or board of directors’ resolution, as the case may be.

	 	(F)	 	This Agreement shall constitute its legal, valid and binding obligation as of
the Effective Date.

	4.	 	TERMINATION

	4.1	 	This Agreement may be terminated by written agreement among the Parties.

	5.	 	MISCELLANEOUS

	5.1	 	Notice. All notices, requests, demands and other communications to be given or
delivered under or by reason of this Agreement shall be in writing (which shall include notice
by facsimile or like transmission) and shall be deemed given:

	 	(A)	 	if delivered by hand, on the day it is delivered, or on the next Business Day
if delivery is made on a non-Business Day or after the business hours of a Business
Day;

	 	(B)	 	if sent by facsimile, on the day when transmittal confirmation is received, or
on the next Business Day if the facsimile is transmitted on a non-Business Day or after
the business hours on a Business Day;

	 	(C)	 	if sent by certified or registered air mail, on the seventh Business Day
following its being deposited at a local postal service provider for mailing if the
address of the addressee for notice is in the same country as the place of mailing, or
otherwise, on the tenth Business Day following its being deposited at a local postal
service provider for mailing,

to the Parties at the following addresses (or addresses as notified by the Parties in
writing from time to time):

	 	 	 
	For Lender:

	 	GigaMedia Asia Pacific Limited
	Address

	 	Overseas Management Company Trust (B.V.I.) Ltd., OMC
Chambers, P.O.Box 3152, Road Town, Tortola, British
Virgin Islands
	Attention

	 	CEO
	 
	 	 
	With copies to:

	 	GigaMedia Limited
	Address

	 	The Centrium, 22/F, 60 Wyndham Street,

Central, Hong Kong
	Telephone Number

	 	+852 3166 9830
	Facsimile Number

	 	+852 3166 9831

 

5

 

	 	 	 
	Attention:

	 	General Counsel
	 
	 	 
	For Borrower:

	 	Infocomm Asia Holdings Pte. Ltd.
	Address

	 	28 Maxwell Road Red Dot Traffic #04-01 Singapore 069120
	Facsimile Number

	 	+65 6898 8881
	Telephone Number

	 	+65 6898 8881
	Attention:

	 	CEO
	 
	 	 
	For Assignee:

	 	Spring Asia Limited
	Address

	 	Lot 2 & 3, Level 3, Wisma Lazenda Jalan Kemajuan, 87000

Federal Territory Of Labuan
	Attention:

	 	General Counsel

	5.2	 	Governing Law. Matters regarding the execution, validity, interpretation and
performance of this Agreement as well as settlements of disputes arising hereunder, shall be
governed by the published and publicly available laws and regulations of Hong Kong and the
treaties and other international agreements to which Hong Kong is a party.

	5.3	 	Dispute Resolution 

	 	(A)	 	The Parties shall try to resolve any dispute, controversy or claim arising out
of or in connection with this Contract through friendly consultations between the
Parties. But, if no settlement is reached within thirty (30) days from the date one
Party notifies the other Party in writing of its intention to submit the dispute,
controversy or claim to arbitration in accordance with this Article, then any such
dispute, controversy or claim arising out of or relating to this Contract, or the
breach, termination or invalidity thereof, shall be settled by arbitration by the HKIAC
in accordance with the UNCITRAL Arbitration Rules as at present in force and as may be
amended by the rest of this Article. The arbitration will be administered by HKIAC in
accordance with HKIAC Procedures for Arbitration in force at the date of this Contract
including additions to the UNCITRAL Arbitration Rules as are therein contained.

	 	(B)	 	The place of arbitration shall be in Hong Kong at the HKIAC. The arbitration
proceedings will be conducted in English. The arbitration panel will consist of three
(3) members. Each Party shall select one (1) arbitrator. The arbitration award shall
be final and binding on the Parties, and the Parties agree to be bound thereby and to
act accordingly. The costs of arbitration and the costs of enforcing the arbitration
award (including witness expenses and reasonable attorneys’ fees) shall be borne by the
losing Party, unless otherwise determined by the arbitration award.

	 	(C)	 	In any arbitration proceeding, any legal proceeding to enforce any arbitration
award and in any legal action between the Parties pursuant to or relating to this
Agreement, each Party expressly waives any defence based

 

6

 

on the fact or allegation that it is an agency or instrumentality of a sovereign
state.

	 	(D)	 	Any award of the arbitrators may be enforced by any court having jurisdiction
over the Party against which the award has been rendered, or wherever assets of that
Party are located, and shall be enforceable in accordance with the New York Convention
on the Recognition and Enforcement of Foreign Arbitral Awards (1958).

	5.4	 	Entire agreement. This Agreement, together with the Shareholder Loan Agreement as
altered hereby and the exhibits and the schedules hereto, constitutes the entire agreement
among the Parties with respect to the subject matter hereof and supersedes all prior written
or oral understandings or agreements (except for untrue or fraudulent statements). Each Party
has only relied on the representations, warranties, understandings and specifications
contained in this Agreement in reaching its decision to execute this Agreement and to enter
into the transactions contemplated hereby.

	5.5	 	Severability. If any provision of this Agreement shall be held invalid, illegal,
voidable, unenforceable or unconscionable, to any extent by any court, tribunal or
governmental authority with competent jurisdiction, such parts shall be deemed as having been
severed from this Agreement and the remainder of this Agreement shall continue to be
effective. If any provision is deemed unenforceable, both Parties shall replace it with a
similar provision agreed on through negotiation to reflect the original intention of the
Parties to the greatest extent permitted by law.

	5.6	 	No waiver. A Party’s failure to exercise, exercise with delay or exercise in part
its rights under this Agreement, shall not be deemed to constitute a waiver of its other
rights or all rights under this Agreement. A Party’s waiver of its rights in respect of a
breach by the other Party of this Agreement in one particular situation shall not be deemed to
have waived such Party’s rights against the other Party for a similar breach of this Agreement
in other situations.

	5.7	 	Counterpart execution. This Agreement 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.

	5.8	 	No third party beneficiary. Except to the extent otherwise expressly provided herein,
nothing in this Agreement is intended to confer upon any Person other than the Parties hereto
and their respective permitted successors and assigns any rights, benefits or obligations
hereunder.

	5.9	 	Costs. Each Party shall pay its own costs relating to the negotiation, preparation,
execution and implementation by it of this Agreement and of any documents referred to in it.

[The remainder of this page has been intentionally left blank.]

 

7

 

This Agreement is executed by the authorized representatives of each Party as of the date first
written above.

	 	 	 	 	 
	GIGAMEDIA ASIA PACIFIC LIMITED	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	INFOCOMM ASIA HOLDINGS PTE. LTD.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 
	 
	 	 	 	 
	SPRING ASIA LIMITED	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	 

	 	 

Name:
	 	 
	 

	 	Title:	 	 

 

8

 

APPENDIX 1

COPY OF SHAREHOLDER LOAN AGREEMENT

 

9

 

APPENDIX 2

COPY OF AMENDMENT TO SHAREHOLDER LOAN AGREEMENT

 

10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]