Document:

2012 Q4 Ex 10-119

EXHIBIT 10.119

ATAT07448110-42923APAP 3537682647-1-2 163949
J. Aron & Company | 200 West Street | New York, New York 10282-2198
Tel: 212-902-1000

REVISED Confirmation
	
		
	DATE:
	Jul 3 2012

	TO:
	MICRON TECHNOLOGY, INC.

	ATTENTION:
	FX OPERATIONS

	FROM:
	J. Aron & Company

	SUBJECT:
	Currency Option Transaction

	REFERENCE NUMBER:
	SDB3616575405-3537682647

The purpose of this revised communication (a "Confirmation") is to confirm the terms and conditions of the above-referenced Transaction entered into on the Trade Date specified below (the "Transaction") between   J. Aron & Company  ("ARON")  and MICRON TECHNOLOGY, INC. ("Counterparty") . This communication constitutes a "Confirmation". This Confirmation shall supercede and replace any standard short form confirmation or electronic confirmation message that is sent to you in connection with this Transaction.

1.    This Confirmation is subject to, and incorporates, the definitions and provisions contained in the 1998 FX and Currency Option Definitions (as amended and supplemented by the 1998 ISDA Euro Definitions, collectively referred to hereinafter as the "1998 FX Definitions"), as published by the International Swaps and Derivatives Association, Inc. ("ISDA"), the Emerging Markets Traders Association and The Foreign Exchange Committee.

If ARON and Counterparty have entered into a master agreement governing transactions of this type, (the "Agreement"), then this Transaction shall be governed thereby. If, and so long as, the parties have not entered into such an Agreement, then this Transaction shall constitute a "Transaction" within the scope of, and shall be deemed to be governed by, the terms of the 2002 ISDA Master Agreement (provided that (i) "Termination Currency" shall be USD (ii) Subparagraph (ii) of Section 2(c) (Netting) will not apply to Transactions, (iii) the Governing Law shall be the State of New York, (iv) the “Cross-Default” provisions of Section 5(a)(vi) will apply to ARON and will apply to Counterparty, provided that (i) the phrase “or becoming capable at such time of being declared” shall be deleted from clause (1) of such Section 5(a)(vi);   and (ii) the following language shall be added to the end thereof:  “Notwithstanding the foregoing, a default under subsection (2) hereof shall not constitute an Event of Default if (i) the default was caused solely by error or omission of an administrative or operational nature; (ii) funds were available to enable the party to make the payment when due; and (iii) the payment is made within two Local Business Days of such party's receipt of written notice of its failure to pay and (v) “Threshold Amount” means in the case of ARON, an amount equal to 3% of the shareholder equity of the Credit Support Provider of ARON as published in its latest audited annual financial accounts and in the case of Counterparty, USD 100,000,000.00, or its equivalent in any currency (as so modified, the "ISDA Terms")). Upon execution and delivery of an Agreement governing transactions of this type, such Agreement shall supercede the ISDA Terms, and all transactions then outstanding shall be governed thereby. All provisions contained in, or incorporated by reference to, the ISDA Terms or the Agreement, as applicable, will govern this Confirmation except as expressly modified herein. In the event of any inconsistencies between this Confirmation and the 1998 FX Definitions or the Agreement, as applicable, this Confirmation will govern.

2.    The terms of the particular Transaction to which this Confirmation relates are as follows.
	
		
	Trade Date:
	Jul 02 2012

	Buyer:
	ARON

	Seller:
	Counterparty

	Currency Option Style:
	European

	Currency Option Type:
	USD Put / JPY Call

	Call Currency and Call Currency Amount:
	JPY 50,000,000,000.00

	Put Currency and Put Currency Amount:
	USD 661,638,216.22

	Strike Price:
	75.570 JPY/USD

1 of 2

	
		
	Expiration Date:
	Apr 03 2013

	Expiration Time:
	10:00 a.m. New York time

	Automatic Exercise:
	Applicable

	Settlement Date:
	Apr 05 2013

	Settlement:
	Deliverable

	Premium:
	USD 11,721,518.00, payable by ARON to Counterparty on

	 
	the Premium Payment Date

	Premium Payment Date:
	Apr 05 2013

	 
	 

	3.   Definitions:
	 

	 
	 

	Credit Support Provider of ARON:
	The Goldman Sachs Group, Inc.

	 
	 

	4.   Other terms and conditions:
	None

	 
	 

	5.   Calculation Agent:
	ARON, unless otherwise specified in the Agreement

Please confirm that the foregoing correctly sets forth the terms of our agreement with respect to this Transaction (Reference Number: SDB3616575405-3537682647) by signing this revised Confirmation in the space provided below and immediately returning a copy of the executed Confirmation via facsimile to the attention of FX Operations at 212 428 3338.

Very truly yours,

J. Aron & Company

By:      /s/ Arthur Ambrose        
Name:    Arthur Ambrose
Title:    Vice President

Agreed and Accepted By: 
MICRON TECHNOLOGY, INC.

By:  /s/ Josh Ingram    

(Reference Number: SDB3616575405-3537682647)

2 of 22012 Q4 Ex 10-120

EXHIBIT 10.120

JPMorgan Chase Bank, N.A.
Chaseside WB01-0560
Bournemouth
BH7 7DA United Kingdom

Direct Line: U.S. 1 212 8342211
Direct Line: U.K. 44 1202 325444
Facsimile: U.S. 1 212 8346641
Facsimile: U.K. 44 1202 325 163
    
Switchboard: U.K. 44 1202 322000

MICRON TECHNOLOGY INCORPORATED 
Facsimile: 001 2083685763
2 July 2012

Reference Number: 8000031078419 (LHCZGIJ00) 
Internal Reference: 30940179 / 30781719 / 31014429

The purpose of this letter agreement is to confirm the terms and conditions of the Transaction entered into between JPMorgan Chase Bank, N.A., ("JPMorgan") and MICRON TECHNOLOGY INCORPORATED, (the "Counterparty") on the Trade Date specified below.

The definitions and provisions contained in the 2006 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc., (the "2006 Definitions") and in the 1998 FX and Currency Option Definitions as published by International Swaps and Derivatives Association, Inc., the Emerging Market Traders Association and The Foreign Exchange Committee (the "1998 Definitions", and together with the
2006 Definitions, the "Definitions") are incorporated into this Confirmation. In the event of any inconsistency between the 2006 Definitions and the 1998 Definitions, the 1998 Definitions will govern. In the event of any inconsistency between either set of Definitions and this Confirmation, this Confirmation will govern.

1. If the parties have executed an ISDA 2002 Master Agreement, a 1992 ISDA Master Agreement (Multicurrency-Cross Border) or an ISDA Interest Rate and Currency Exchange Agreement (each an "ISDA Agreement"), this Confirmation between JPMorgan and such Counterparty supplements, forms part of, and is subject to such ISDA Agreement. All provisions contained in the ISDA Agreement shall govern this Confirmation except as expressly modified below.

If the parties have not executed an ISDA Agreement but have executed an International Currency Options Market Master Agreement ("ICOM"), or a Foreign Exchange and Options Master Agreement ("FEOMA"), this Confirmation supplements, forms part of, and is subject to such ICOM or FEOMA, as the case may be, as amended and supplemented from time to time (the "FX Agreement"). In such case, all provisions contained in the FX Agreement shall govern this Confirmation except as expressly modified below.

If the parties have not executed either an ISDA Agreement or an FX Agreement, until JPMorgan and the Counterparty execute an ISDA Agreement or FX Agreement, this Confirmation, together with all other documents referring to the ISDA Agreement (each an "ISDA Confirmation") confirming transactions (each a "Transaction") entered into between JPMorgan and the Counterparty (notwithstanding anything to the contrary in an ISDA Confirmation), shall supplement, form a part of, and be subject to an agreement in the form of the ISDA 2002 Master Agreement as if JPMorgan and the Counterparty had executed an agreement in such form (but without any Schedule except for the election of the laws of the State of New York as the

Page 1 of 5

governing law and United States dollars as the Termination Currency) on the Trade Date of the first such Transaction between JPMorgan and the Counterparty. In the event of any inconsistency between provisions of that agreement and this Confirmation, this Confirmation will prevail for the purpose of the Transaction to which this Confirmation relates.

2. The terms of the particular Transaction to which this Confirmation relates are as follows: Option 1:

(a) General Terms:

	
		
	Internal Reference:
	30940179

	 
	 

	Trade Date:
	02 July 2012

	 
	 

	Buyer:
	Counterparty

	 
	 

	Seller:
	JPMorgan

	 
	 

	Currency Option Style:
	European

	 
	 

	Currency Option Type:
	USD Put / JPY Call

	 
	 

	Call Currency and Call Currency Amount:
	JPY 40,000,000,000

	 
	 

	Put Currency and Put Currency Amount:
	USD 505,369,551.48

	 
	 

	Strike Price:
	79.15 JPY/USD

	 
	 

	Expiration Date:
	03 April 2013

	 
	 

	Expiration Time:
	10:00 New York Time

	 
	 

	Settlement Date:
	05 April 2013

	 
	 

	Premium:
	USD 9,960,000.00

	 
	 

	Premium Payment Date:
	05 April 2013

Option 2:

(a) General Terms:

	
		
	Internal Reference:
	30781719

	 
	 

	Trade Date:
	02 July 2012

	 
	 

	Buyer:
	JPMorgan

	 
	 

	Seller:
	Counterparty

Page 2 of 5

	
		
	Currency Option Style:
	European

	 
	 

	Currency Option Type:
	USD Put / JPY Call

	 
	 

	Call Currency and Call Currency Amount:
	JPY 20,000,000,000

	 
	 

	Put Currency and Put Currency Amount:
	USD 264,655,286.49

	 
	 

	Strike Price:
	75.57 JPY/USD

	 
	 

	Expiration Date:
	03 April 2013

	 
	 

	Expiration Time:
	10:00 New York Time

	 
	 

	Settlement Date:
	05 April 2013

	 
	 

	Premium:
	Zero

	 
	 

	Premium Payment Date:
	Not Applicable

Option 3:

(a) General Terms:

	
		
	Internal Reference:
	31014429

	 
	 

	Trade Date:
	02 July 2012

	 
	 

	Buyer:
	JPMorgan

	 
	 

	Seller:
	Counterparty

	 
	 

	Currency Option Style:
	European

	 
	 

	Currency Option Type:
	JPY Put / USD Call

	 
	 

	Call Currency and Call Currency Amount:
	USD 240,038,406.14

	 
	 

	Put Currency and Put Currency Amount:
	JPY 20,000,000,000

	 
	 

	Strike Price:
	83.32 JPY/USD

	 
	 

	Expiration Date:
	03 April 2013

	 
	 

	Expiration Time:
	10:00 New York Time

	 
	 

	Settlement Date:
	05 April 2013

	 
	 

	Premium:
	Zero

	 
	 

	Premium Payment Date:
	Not Applicable

Page 3 of 5

3. Calculation Agent: JPMorgan, acting in good faith and in a commercially reasonable manner, and whose determinations and calculations will be binding in the absence of manifest error.

4. Offices:
The Office of JPMorgan for this Transaction is NEW YORK. 
The Office of the Counterparty for this Transaction is BOISE.

5. Office and Address for notices in connection with this Transaction

	
		
	JPMorgan :
	JPMorgan Chase Bank, N.A., NEW YORK

	 
	Chaseside WB01-0560

	 
	Bournemouth

	 
	BH7 7DA

	 
	United Kingdom

	 
	Direct Line: U.S. 1 212 8342211

	 
	Direct Line: U.K. 44 1202 325444

	 
	Facsimile: U.S. 1 212 8346641

	 
	Facsimile: U.K. 44 1202 325 163

6. Documents to be delivered. Each party shall deliver to the other, at the time of its execution of this Confirmation, evidence of the specimen signature and incumbency of each person who is executing the Confirmation on the party's behalf, unless such evidence has previously been supplied in connection with this Agreement and remains true and in effect.

7. Representations and Warranties: Absent a written agreement to the contrary, each party represents and warrants to the other party that (i) it is not relying on any advice (whether written or oral) of the other party regarding this Transaction; (ii) it has the capacity to evaluate (internally or through independent professional advice) this Transaction and has made its own decision to enter into this Transaction; (iii) it understands the terms, conditions and risks of this Transaction and is willing to accept those terms and conditions and to assume (financially and otherwise) those risks; and (iv) the other party (1) is not acting as a fiduciary or financial, investment or commodity trading advisor for it, (2) has not given to it (directly or indirectly through any other person) any assurance, guaranty or representation whatsoever as to the merits (either legal, regulatory, tax, financial, accounting or otherwise) of this Transaction or any documentation related thereto, and (3) has not committed to unwind this Transaction.

Page 4 of 5

This Confirmation supersedes and replaces any other confirmation (including any other written confirmation, SWIFT MT305 or phone/oral confirmation) issued by JPMorgan in connection with this Transaction on or prior to the date hereof.

Please confirm that the foregoing correctly sets forth the terms of our agreement by executing the copy of this
Confirmation enclosed for that purpose and returning it to the above address.

Yours faithfully,

JPMORGAN CHASE BANK, N.A.

/s/ Philip D. Glackin    

Name:     Philip D Glackin    

Title:    Executive Director    

Accepted and confirmed as of the date first written

MICRON TECHNOLOGY INCORPORATED

/s/ Anne Miller    

Name:    Anne Miller    

Title:    Senior Manager, Worldwide Treasury Operations    

Your Reference Number:    

Page 5 of 5

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