Document:

Exhibit 10.5

 

SUPPLEMENT NO. 2 dated as of March 1, 2010
(this “Supplement”), to the U.S. Guarantee Agreement dated as of April 29,
2009 (as the same may be amended, supplemented or otherwise modified from time
to time, the “U.S. Guarantee Agreement”), among SEAGATE TECHNOLOGY, an
exempted limited liability company organized under the laws of the Cayman
Islands (“Intermediate Holdings”),
SEAGATE TECHNOLOGY HDD HOLDINGS, an exempted limited liability company
organized under the laws of the Cayman Islands (the “Borrower”), each of the subsidiaries of the Borrower from
time to time party thereto (each such subsidiary, the Borrower and Intermediate
Holdings, individually, a “Guarantor”
and, collectively, the “Guarantors”)
and JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity,
the “Administrative Agent”) for the Secured Parties (as defined in the
Credit Agreement referred to below).

 

A. 
Reference is made to the Second Amended and Restated Credit Agreement
dated as of April 3, 2009 (as amended, supplemented or otherwise modified
from time to time, the “Credit
Agreement”), among the Borrower, Intermediate Holdings, the lenders
from time to time party thereto (the “Lenders”),
the Administrative Agent and the other
agents party thereto.

 

B. 
Capitalized terms used herein and not otherwise defined herein shall
have the meanings assigned to such terms in the U.S. Guarantee Agreement and
the Credit Agreement.

 

C.  The
Guarantors have entered into the U.S. Guarantee Agreement in order to induce
the Lenders to make Loans and the Issuing Banks to issue Letters of
Credit.  Pursuant to Section 5.12 of
the Credit Agreement and the Collateral and Guarantee Requirement, certain
Subsidiaries formed or acquired after the Second Restatement Effective Date are
required to execute a Guarantee Agreement. 
Section 20 of the U.S. Guarantee Agreement provides that additional
Subsidiaries may become Guarantors under the U.S. Guarantee Agreement by
execution and delivery of an instrument in the form of this Supplement.  The undersigned Subsidiary (the “New Guarantor”) is executing this
Supplement in accordance with the requirements of the Credit Agreement to
become a Guarantor under the U.S. Guarantee Agreement in order to induce the
Lenders to make additional Loans and the Issuing Banks to issue additional
Letters of Credit and as consideration for Loans previously made and Letters of
Credit previously issued.

 

Accordingly, the Administrative Agent and the
New Guarantor agree as follows:

 

SECTION 1.  In accordance with Section 20 of the
U.S. Guarantee Agreement, the New Guarantor by its signature below becomes a
Guarantor under the U.S. Guarantee Agreement with the same force and effect as
if originally named therein as a Guarantor and the New Guarantor hereby (a) agrees
to all the terms and provisions of the U.S. Guarantee Agreement applicable to
it as a Guarantor thereunder and (b) represents and warrants that the
representations and warranties made by it as a Guarantor thereunder are true
and correct on and as of the date hereof, except to the extent a representation
and warranty expressly relates solely to a specific date, in which case such
representation and warranty shall be true and correct on such date.  Each reference to a “Guarantor” in the U.S.
Guarantee Agreement shall

 

 

be deemed to include the New
Guarantor.  The U.S. Guarantee Agreement
is hereby incorporated herein by reference.

 

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

 

SECTION 3.  This Supplement may be executed in
counterparts (and by different parties hereto on different counterparts), each
of which shall constitute an original, but all of which when taken together
shall constitute a single contract.  This
Supplement shall become effective when the Administrative Agent shall have
received counterparts of this Supplement that, when taken together, bear the
signatures of the New Guarantor and the Administrative Agent.  Delivery of an executed signature page to
this Supplement by facsimile or Adobe .pdf transmission shall be as effective
as delivery of a manually executed counterpart of this Supplement.

 

SECTION 4.  Except as expressly supplemented hereby, the
U.S. Guarantee Agreement shall remain in full force and effect.

 

SECTION 5. 
THIS SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY
THE LAWS OF THE STATE OF NEW YORK.

 

SECTION 6.  In case any one or more of the provisions
contained in this Supplement should be held invalid, illegal or unenforceable
in any respect, the validity, legality and enforceability of the remaining
provisions contained herein and in the U.S. Guarantee Agreement shall not in
any way be affected or impaired thereby (it being understood that the
invalidity of a particular provision hereof in a particular jurisdiction shall
not in and of itself affect the validity of such provision in any other
jurisdiction).  The parties hereto shall
endeavor in good-faith negotiations to replace the invalid, illegal or
unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the invalid, illegal or unenforceable
provisions.

 

SECTION 7.  All communications and notices hereunder
shall be in writing and given as provided in Section 14 of the U.S.
Guarantee Agreement.  All communications
and notices hereunder to the New Guarantor shall be given to it at the address
set forth under its signature below, with a copy to the Borrower.

 

SECTION 8.  The New Guarantor agrees to reimburse the
Administrative Agent for its out-of-pocket expenses in connection with this
Supplement, including the reasonable fees, disbursements and other charges of
counsel for the Administrative Agent (but subject to Section 9.03(a) of
the Credit Agreement).

 

[Signature Pages Follow]

 

2

 

IN
WITNESS WHEREOF, the New Guarantor and the Administrative Agent have duly
executed this Supplement to the U.S. Guarantee Agreement as of the day and year
first above written.

 

 

	
   

  	
  SEAGATE
  HDD CAYMAN,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  by

  	
   

  
	
   

  	
   

  	
  /s/
  Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth
  M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
  Address:

  
	
   

  	
   

  	
  920
  Disc Drive

  
	
   

  	
   

  	
  Scotts
  Valley, California 95066

  

 

[Signature
Page to Supplement No. 2 to the U.S. Guarantee Agreement]

 

 

	
   

  	
   

  	
  JPMORGAN
  CHASE BANK, N.A., as

  
	
   

  	
   

  	
  Administrative
  Agent,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  by

  	
   

  
	
   

  	
   

  	
   

  	
  /s/
  Sharon Bazbaz

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Sharon
  Bazbaz

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

[Signature
Page to Supplement No. 2 to the U.S. Guarantee Agreement]Exhibit 10.6

 

SUPPLEMENT NO. 1 dated as of March 1,
2010 (this “Supplement”), to the U.S. Security Agreement dated as of April 29,
2009 (as amended, supplemented or otherwise modified from time to time the “U.S.
Security Agreement”), among SEAGATE TECHNOLOGY, an exempted limited
liability company organized under the laws of the Cayman Islands (“Intermediate
Holdings”), SEAGATE TECHNOLOGY HDD HOLDINGS, an exempted limited liability
company organized under the laws of the Cayman Islands (the “Borrower”), each subsidiary of
the Borrower from time to time party thereto (each such subsidiary
individually, a “Subsidiary”
and, collectively, the “Subsidiaries”
and together with the Borrower, the “Grantors”)
and JPMORGAN CHASE BANK, N.A. (“JPMCB”),
as administrative agent (in such capacity, the “Administrative Agent”) for the Secured Parties (as defined
in the Credit Agreement referred to below).

 

A.  Reference is made to (a) the Second
Amended and Restated Credit Agreement dated as of April 3, 2009 (as
amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among Intermediate Holdings, the Borrower, the lenders from
time to time party thereto (the “Lenders”), the Administrative Agent and
the other agents party thereto, and (b) the U.S. Guarantee Agreement dated
as of April 29, 2009 (as amended, supplemented or otherwise modified from
time to time, the “U.S. Guarantee Agreement”), among the Guarantors (as
defined therein) and the Administrative Agent.

 

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

 

C.  The Grantors have entered into the U.S.
Security Agreement in order to induce the Lenders to make Loans and the Issuing
Banks to issue Letters of Credit. 
Pursuant to Section 5.12 of the Credit Agreement and the Collateral
and Guarantee Requirement, (a) each Subsidiary that is a U.S. Loan Party
that is formed or acquired after the Second Restatement Effective Date and (b) each
other Loan Party that is formed or acquired after the Second Restatement
Effective Date that owns property in the United States that would constitute
Collateral if such Loan Party were a party thereto, in each case is required to
enter into the U.S. Security Agreement as a Grantor upon becoming a Subsidiary
Loan Party.  Section 7.15 of the
U.S. Security Agreement provides that such Subsidiaries may become Grantors
under the U.S. Security Agreement by execution and delivery of an instrument in
the form of this Supplement.  The
undersigned Subsidiary (the “New Grantor”) is executing this Supplement
in accordance with the requirements of the Credit Agreement to become a Grantor
under the U.S. Security Agreement in order to induce the Lenders to make additional
Loans and the Issuing Banks to issue additional Letters of Credit and as
consideration for Loans previously made and Letters of Credit previously
issued.

 

Accordingly,
the Administrative Agent and the New Grantor agree as follows:

 

SECTION 1.  In accordance with Section 7.15 of the
U.S. Security Agreement, the New Grantor by its signature below becomes a
Grantor under the U.S. Security

 

 

Agreement
with the same force and effect as if originally named therein as a Grantor and
the New Grantor hereby (a) agrees to all the terms and provisions of the
U.S. Security Agreement applicable to it as a Grantor thereunder and (b) represents
and warrants that the representations and warranties made by it as a Grantor
thereunder are true and correct on and as of the date hereof except to the
extent a representation and warranty expressly relates solely to a specific
date, in which case such representation and warranty shall be true and correct
on such date.  In furtherance of the
foregoing, the New Grantor, as security for the payment and performance in full
of the Obligations (as defined in the U.S. Security Agreement), does hereby
create and grant to the Administrative Agent, its successors and assigns, for
the benefit of the Secured Parties, their successors and assigns, a security
interest in and lien on all of the New Grantor’s right, title and interest in
and to the Collateral of the New Grantor. 
Each reference to a “Grantor” in the U.S. Security Agreement
shall be deemed to include the New Grantor. 
The U.S. Security Agreement is hereby incorporated herein by reference.

 

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

 

SECTION 3.  This Supplement may be executed in
counterparts (and by different parties hereto on different counterparts), each
of which shall constitute an original, but all of which when taken together
shall constitute a single contract.  This
Supplement shall become effective when the Administrative Agent shall have
received counterparts of this Supplement that, when taken together, bear the
signatures of the New Grantor and the Administrative Agent.  Delivery of an executed signature page to
this Supplement by facsimile or Adobe .pdf transmission shall be as effective
as delivery of a manually signed counterpart of this Supplement.

 

SECTION 4.  The New Grantor hereby represents and
warrants that (a) set forth on Schedule I attached hereto is a true
and correct schedule of the location of any and all Collateral of the New
Grantor and (b) set forth under its signature hereto, is the true and
correct location of the chief executive office of the New Grantor.

 

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

 

SECTION 6.  THIS SUPPLEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

 

SECTION 7.  In case any one or more of the provisions
contained in this Supplement should be held invalid, illegal or unenforceable
in any respect, the validity, legality and enforceability of the remaining
provisions contained herein and in the U.S. Security Agreement shall not in any
way be affected or impaired thereby (it being understood that the invalidity of
a particular provision in a particular jurisdiction shall not in and of itself
affect the validity of such provision in any other jurisdiction).  The parties 

 

2

 

hereto
shall endeavor in good-faith negotiations to replace the invalid, illegal or
unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the invalid, illegal or unenforceable
provisions.

 

SECTION 8.  All communications and notices hereunder
shall be in writing and given as provided in Section 7.01 of the U.S.
Security Agreement.  All communications
and notices hereunder to the New Grantor shall be given to it at the address
set forth under its signature below, with a copy to the Borrower.

 

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

 

[Signature Pages Follow]

 

3

 

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

 

 

	
   

  	
  SEAGATE
  HDD CAYMAN,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  by

  	
   

  
	
   

  	
   

  	
  /s/ Kenneth M. Massaroni

  
	
   

  	
   

  	
  Name:

  	
  Kenneth
  M. Massaroni

  
	
   

  	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
  Address:

  
	
   

  	
   

  	
  920
  Disc Drive

  
	
   

  	
   

  	
  Scotts
  Valley, California 95066

  

 

[Signature
Page to Supplement No. 1 to the U.S. Security Agreement]

 

 

	
   

  	
  JPMORGAN
  CHASE BANK, N.A., as 

  
	
   

  	
  Administrative
  Agent,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  by

  	
   

  
	
   

  	
   

  	
  /s/
  Sharon Bazbaz

  
	
   

  	
   

  	
  Name:

  	
  Sharon
  Bazbaz

  
	
   

  	
   

  	
  Title:

  	
  Vice
  President

  

 

[Signature
Page to Supplement No. 1 to the U.S. Security Agreement]

 

 

Schedule I to Supplement No. 1

to the U.S. Security Agreement

 

LOCATION OF COLLATERAL

 

	
  Description

  	
   

  	
  Location

  
	
   

  	
   

  	
   

  
	
  None.

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