Document:

AGREEMENT

    

    This
      agreement, entered into on September 24, 2008, hereby supplements and restates
      that certain Management Entrustment Agreement made and entered into on November
      8, 2006 and amended and restated on April 24, 2008 in Xi’an City, China (the
“Management Entrustment Agreement”), by and among the following parties: Xi'an
      Amorphous Alloy Zhongxi Transformer Co., Ltd. (“Zhongxi”), An Sen (Xi'an) Power
      Science & Technology Co., Ltd. (“An Sen”), Zhejiang Lvneng Electric Co.Ltd.
      (“ZLE”) and Xi'an Zhongxi Zhengliu Dianlu Transformer Factory, Ltd.
      (“Dianlu”).

    

    WHEREAS:

    

    1.
       In
      June,
      2004, Xi'an Amorphous Alloy Science and Technology Co., Ltd. (“Alloy Science”)
      and Dianlu formed Zhongxi, with Dianlu owning 6.25% of Zhongxi; and

    

    2.
       On
      October 28, 2006 Alloy Science, Zhongxi and its shareholders entered into an
      Investment Trust Agreement where substantially all of the assets of Alloy
      Science were transferred to Zhongxi and 93.75% of Zhongxi’s common stock was
      held for the benefit of Alloy Science and its shareholders with 6.25% remaining
      with Dianlu; and

    

    3.
       In
      November, 2006, in exchange for agreeing to enter into the Management
      Entrustment Agreement, Dianlu received 560,100 shares of common stock of China
      Power Equipment, Inc. (the “China Power Shares”); and

    

    4.
       
      On July
      11, 2007, Dianlu transferred its 6.25% nominal interest in Zhongxi (“the
      Interest”) and the China Power Shares to ZLE;

    

    NOW,
      THEREFORE,
      in
      accordance with the relevant laws and regulations of the People’s Republic of
      China, the parties agree to enter into this Agreement and to be bound with
      the
      terms and conditions as follows:

    

    Article
      1.  Agreement
      to be Formally Bound by the Management Entrustment Agreement

    

    
      	
              1.1
                

            	
              Dianlu
                agrees that it received the China Power Shares in consideration of
                its
                agreement to be bound by the terms of the Management Entrustment
                Agreement. ZLE, as the current owner of the Interest and the China
                Power
                Shares, hereby agrees that as a condition of it retaining the China
                Power
                Shares, it agreed to be bound by each and every term of the Management
                Entrustment Agreement and hereby confirms and agrees that it previously
                executed the amended and restated Management Entrustment Agreement
                dated
                April 24, 2008.

            

    

    

    Article
      2
 Miscellaneous

    

    2.1
       Any
      supplemental agreements entered into by the parties after the effective date
      of
      this Agreement shall be an effective part of this Agreement and have the same
      legal effect as this Agreement. If there is any discrepancy between the
      supplemental agreement and this Agreement, the supplemental agreement shall
      prevail. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    2.2
       This
      Agreement shall and its enforcement be construed in accordance with the laws
      of
      the People’s Republic of China. 

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have duly executed this Agreement on this date first above
      written. 

    

    
      	
              Party A: Xi' an Amorphous Alloy Zhongxi Transformer Co., Ltd

            
	 	 
	
              By:

            	 
              
	
              Name:

            	 
              
	
              Title:

            	 
              
	 	 
	
              An
                Sen (Xi’an) Power Science & Technology Co., Ltd.

            
	 	 
	
              By:

            	 
              
	
              Name:

            	 
              
	
              Title:

            	 
              
	 	 
	
              Zhejiang
                Lvneng Electric Co.Ltd.

            
	 	 
	
              By:

            	 
              
	
              Name:

            	 
              
	
              Title:

            	 
              
	 	 
	
              Xi'an
                Zhongxi Zhengliu Dianlu Transformer Factory, Ltd.

            
	 	 
	
              By:

            	 
              
	
              Name:

            	 
              
	
              Title:Exhibit
      4.1

     

     

    This
      SECOND SUPPLEMENTAL INDENTURE,
      dated
      as of September 19, 2008 (this “Second Supplemental Indenture”), is made by and
      among TOWER
      SEMICONDUCTOR LTD.,
      an
      Israeli company (“Parent”), JAZZ
      TECHNOLOGIES, INC. (formerly
      known as Acquicor Technology Inc.), a Delaware corporation (the “Company”),
JAZZ
      SEMICONDUCTOR, INC.,
      a
      Delaware corporation, and NEWPORT
      FAB, LLC,
      a
      Delaware limited liability company (together the “Guaranteeing Subsidiaries”),
      and U.S.
      BANK NATIONAL ASSOCIATION,
      as
      Trustee (the “Trustee”), under the Indenture referred to herein. Capitalized
      terms used herein and not otherwise defined herein shall have the meanings
      ascribed to them in the Indenture referred to below.

     

    WITNESSETH:

     

    WHEREAS,
      the
      Company and the Trustee are parties to an Indenture dated as of December 19,
      2006, as amended and supplemented by the Supplemental Indenture (the “First
      Supplemental Indenture”) dated as of April 3, 2007 (as amended and supplemented,
      the “Indenture”), providing for the issuance of 8% Convertible Senior Notes due
      2011 (herein called the “Securities”);

     

    WHEREAS,
      Parent,
      the Company and Armstrong Acquisition Corp., a Delaware corporation and
      wholly-owned subsidiary of Parent (“Merger Sub”), have entered into an Agreement
      and Plan of Merger and Reorganization (the “Merger Agreement”), dated as of May
      19, 2008, pursuant to which Merger Sub will merge with and into the Company
      (the
“Merger”), with the Company remaining as the surviving corporation in the Merger
      and a wholly owned subsidiary of Parent;

     

    WHEREAS,
      upon
      the Merger, each outstanding share of Common Stock will be converted into the
      right to receive 1.8 ordinary shares, par value NIS 1.00 (“Parent Ordinary
      Shares”), of Parent in accordance with the Merger Agreement;

     

    WHEREAS,
      Section 10.12 of the Indenture provides that in the case of any merger of
      another Person with or into the Company (other than a merger that does not
      result in any reclassification, conversion, exchange or cancellation of
      outstanding shares of Common Stock), then the Person resulting from such merger
      shall enter into a supplemental indenture with the Trustee providing that the
      Holder of each Security then Outstanding shall have the right thereafter, during
      the period such Security shall then be convertible as specified in Section
      10.1
      of the Indenture, to convert such Security only into the kind and amount of
      cash, securities or other property receivable upon such merger by a holder
      of
      the number of shares of Common Stock of the Company into which such Security
      might have been converted immediately prior to such merger;

     

    WHEREAS,
      Section
      7.1 of the Indenture provides that the Company and the Trustee may amend the
      Indenture and the Securities without the consent or affirmative vote of any
      Holders of the Securities for the purposes specified therein;

     

    WHEREAS,
      this
      Second Supplemental Indenture has been duly authorized by all necessary
      corporate action on the part of Parent, the Company (including a Board
      Resolution) and the Guaranteeing Subsidiaries;

     

    WHEREAS,
      the
      Trustee is authorized to execute and deliver this Second Supplemental Indenture;
      and

     

    WHEREAS,
      all
      things necessary to make this Second Supplemental Indenture a valid indenture
      and agreement according to its terms have been done.

     

    NOW,
      THEREFORE,
      in
      consideration of the premises and for other good and valuable consideration,
      the
      receipt and sufficiency of which is hereby acknowledged, Parent, the Company,
      the Guaranteeing Subsidiaries and the Trustee mutually covenant and agree as
      follows for the equal and ratable benefit of the Holders of the
      Securities:

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    ARTICLE
      1

     

    EFFECT
      OF MERGER

     

    SECTION
      1.1 Conversion
      of Securities.

     

    (a) In
      accordance with Section 10.12 of the Indenture, at and after the effective
      time of the Merger, the Holder of each Security then Outstanding shall have
      the
      right, during the period such Security shall be convertible as specified in
      Section 10.1 of the Indenture, to convert such Security only into a number
      of
      Parent Ordinary Shares receivable as a result of the Merger by a holder of
      the
      number of shares of Common Stock of the Company into which such Security was
      convertible immediately prior to the Merger, and as further provided pursuant
      to
      Section 10.12 of the Indenture (which for the avoidance of doubt, shall be
      equal to 245.57 Parent Ordinary Shares per
      $1,000 aggregate principal amount of Securities).

     

    (b) Following
      the effective time of the Merger, the conversion adjustments in Article X of
      the
      Indenture shall apply as nearly equivalently as may be practicable to the Parent
      Ordinary Shares to be issued upon conversion of the Securities as the
      application of such conversion adjustments to the Common Stock. 

     

    SECTION
      1.2 Trustee’s
      Acceptance.
      The
      Trustee hereby accepts this Second Supplemental Indenture and agrees to perform
      the same under the terms and conditions set forth in the Indenture.

     

    ARTICLE
      2

     

    MISCELLANEOUS

     

    SECTION
      2.1 Effectiveness
      of Supplemental Indenture.
      Upon the
      later to occur of (i) the execution and delivery of this Second Supplemental
      Indenture by Parent, the Company, the Guaranteeing Subsidiaries and the Trustee
      and (ii) the effective time of the Merger, the Indenture shall be supplemented
      in accordance herewith, and this Second Supplemental Indenture shall form a
      part
      of the Indenture for all purposes, and every Holder of Securities heretofore
      or
      hereafter authenticated and delivered under the Indenture shall be bound
      hereby.

     

    SECTION
      2.2 Indenture
      Remains in Full Force and Effect.
      Except
      as supplemented hereby, all provisions in the Indenture shall remain in full
      force and effect.

     

    SECTION
      2.3 Indenture
      and Supplemental Indenture Construed Together.
      This
      Second Supplemental Indenture is an indenture supplemental to and in
      implementation of the Indenture, and the Indenture and this Second Supplemental
      Indenture shall henceforth be read and construed together.

     

    SECTION
      2.4 Confirmation
      and Preservation of Indenture.
      The
      Indenture as supplemented by this Second Supplemental Indenture is in all
      respects confirmed and preserved.

     

    SECTION
      2.5 Conflict
      with Trust Indenture Act.
      If any
      provision of this Second Supplemental Indenture limits, qualifies or conflicts
      with any provision of the Trust Indenture Act (the “TIA”) that is required under
      the TIA to be part of and govern any provision of this Second Supplemental
      Indenture, the provision of the TIA shall control. If any provision of this
      Second Supplemental Indenture modifies or excludes any provision of the TIA
      that
      may be so modified or excluded, the provision of the TIA shall be deemed to
      apply to the Indenture as so modified or to be excluded by this Second
      Supplemental Indenture, as the case may be.

     

    SECTION
      2.6 Severability.
      In case
      any provision in this Second 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
      2.7 Headings.
      The
      Article and Section headings of this Second Supplemental Indenture have been
      inserted for convenience of reference only, are not to be considered part of
      this Second Supplemental Indenture and shall in no way modify or restrict any
      of
      the terms or provisions hereof.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    SECTION
      2.8 Benefits
      of Second Supplemental Indenture, etc.
      Nothing
      in this Second Supplemental Indenture, express or implied, shall give to any
      person, other than the parties hereto and their successors hereunder and the
      Holders of the Securities, any benefit of any legal or equitable right, remedy
      or claim under the Indenture, this Second Supplemental Indenture or the
      Securities.

     

    SECTION
      2.9 Certain
      Duties and Responsibilities of the Trustee.
      In
      entering into this Second Supplemental Indenture, the Trustee shall be entitled
      to the benefit of every provision of the Indenture relating to the conduct
      or
      affecting the liability or affording protection to the Trustee, whether or
      not
      elsewhere herein so provided.

     

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

     

    SECTION
      2.11 Governing
      Law. THIS
      SECOND SUPPLEMENTAL INDENTURE SHALL
      BE
      GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
      THE UNITED STATES OF AMERICA, INCLUDING, WITHOUT LIMITATION, THE NEW YORK
      GENERAL OBLIGATIONS LAW §5-1401.

     

    SECTION
      2.12 The
      Trustee.
      The
      Trustee shall not be responsible in any manner whatsoever for or in respect
      of
      the validity or sufficiency of this Second Supplemental Indenture or for or
      in
      respect of the recitals contained herein (other than the seventh recital),
      all
      of which recitals are made solely by the Parent and the Company, as the case
      may
      be.

     

    [Signature
      Pages Follow]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

      Exhibit
        4.1

       

    

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

    
      

      
        	
                PARENT:

              
	 
	
                Tower
                  Semiconductor Ltd.

              
	 
	 
	
                By:

              	
                /s/Russell
                  Ellwanger

              
	
                Name:

              	
                Russell
                  Ellwanger

              
	
                Title:

              	
                Chief
                  Executive Officer

              

      

      

      
        	
                COMPANY:

              
	 
	
                Jazz
                  Technologies, Inc.

              
	 
	 
	
                By:

              	
                /s/Gilbert
                  Amelio

              
	
                Name:

              	
                Gilbert
                  Amelio

              
	
                Title:

              	
                Chairman
                  and Chief Executive Officer

              

      

      

      
        	
                THE
                  TRUSTEE:

              
	 
	
                U.S.
                  Bank National Association

              
	 
	 
	
                By:

              	
                /s/Richard
                  Prokosch

              
	
                Name:

              	
                Richard
                  Prokosch

              
	
                Title:

              	
                Vice
                  President

              
	 	 

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

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

      

      
        	
                GUARANTEEING
                  SUBSIDIARIES:

              
	 
	
                Jazz
                  Semiconductor, Inc.

              
	 
	 
	
                By:

              	
                /s/Gilbert
                  Amelio

              
	
                Name:

              	
                Gilbert
                  Amelio

              
	
                Title:

              	
                Chairman
                  and Chief Executive Officer

              

      

      

      

      
        	
                Newport
                  Fab, LLC

              
	 	 
	 	 
	
                By:

              	
                /s/Gilbert
                  Amelio

              
	
                Name:

              	
                Gilbert
                  Amelio

              
	
                Title:

              	
                Manager

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