Document:

Form of Subscription Agrement

 Exhibit 10.15 
 Form of Unit Subscription Agreement 
 SUBSCRIPTION
AGREEMENT 
 February 26, 2010 
 The undersigned investor (the “Investor”) hereby confirms its agreement with Chelsea Therapeutics International, Ltd. (the “Company”) as follows: 
 1. This Subscription Agreement, including the Terms and Conditions For Purchase of Units attached hereto as Annex I (collectively, this
“Agreement”) is made as of the date set forth below between the Company and the Investor. 
 2. The Company has
authorized the sale and issuance to certain investors of an aggregate of 6,700,000 units (the “Units”) for a purchase price of $2.72 per Unit (the “Purchase Price”), with each Unit consisting of (a) one share
(a “Share,” and collectively the “Shares”) of common stock, par value $0.0001 per share (the “Common Stock”) of the Company and (b) one warrant (a “Warrant,” and collectively
the “Warrants”) to purchase 0.35 of a share of Common Stock (and the fractional amount being the “Warrant Ratio”). Units will not be issued or certificated. The Shares and Warrants are immediately separable and will
be issued separately. The terms and conditions of the Warrants are set forth in the form of Annex II attached hereto. The shares of Common Stock issuable upon exercise of the Warrants are referred to herein as the “Warrant Shares”
and, together with the Units, the Shares and the Warrants, are referred to herein as the “Securities.” 
 3.
The offering and sale of the Units (the “Offering”) are being made pursuant to (1) an effective Registration Statement on Form S-3 (Registration No. 333-161236) filed by the Company with the Securities and Exchange
Commission (the “Commission”) (the “Registration Statement”), which contains the base prospectus (the “Base Prospectus”) and was declared effective by the Commission on August 20, 2009,
(2) if applicable, certain “free writing prospectuses” (as that term is defined in Rule 405 under the Securities Act of 1933, as amended), that have or will be filed with the Commission and delivered to the Investor on or prior
to the date hereof and (3) a final prospectus supplement (the “Prospectus Supplement” and together with the Base Prospectus, the “Prospectus”) containing certain supplemental information regarding the
Securities and terms of the Offering that will be filed with the Commission and delivered to the Investor (or made available to the Investor by the filing by the Company of an electronic version thereof with the Commission) along with the
Company’s counterpart to this Agreement. 
 4. The Company and the Investor agree that the Investor will purchase from the
Company and the Company will issue and sell to the Investor the Units set forth below for the aggregate purchase price set forth below. The Units shall be purchased pursuant to the Terms and Conditions for Purchase of Units attached hereto as
Annex I and incorporated herein by this reference as if fully set forth herein. The Investor acknowledges that the Offering is not being underwritten by the placement agents (the “Placement Agents”) named in the Prospectus
Supplement and that there is no minimum offering amount. 
 5. The manner of settlement of the Shares included in the Units
purchased by the Investor shall be determined by such Investor as follows: 
 Delivery by electronic book-entry at The Depository
Trust Company (“DTC”), registered in the Investor’s name and address as set forth below, and released by Corporate Stock Transfer, Inc., the Company’s transfer agent (the “Transfer Agent”) (attention:
Daniel Bell, telephone:

 
(303) 282-4800, to the Investor at the Closing (as defined in Section 3.1 of Annex A hereto). NO LATER THAN ONE (1) BUSINESS DAY PRIOR TO THE CLOSING DATE (PROVIDED THAT SUCH
DEADLINE SHALL NOT BE EARLIER THAN MARCH 4, 2010), THE INVESTOR SHALL: 
  

	 	(I)	DIRECT THE CUSTODIAL AGENT OR BROKER-DEALER AT WHICH THE ACCOUNT OR ACCOUNTS TO BE CREDITED WITH THE SHARES ARE MAINTAINED TO SET UP A DEPOSIT/WITHDRAWAL AT
CUSTODIAN (“DWAC”) INSTRUCTING THE TRANSFER AGENT TO CREDIT SUCH ACCOUNT OR ACCOUNTS WITH THE SHARES, AND 

  

	 	(II)	REMIT BY WIRE TRANSFER THE AMOUNT OF FUNDS EQUAL TO THE AGGREGATE PURCHASE PRICE FOR THE UNITS BEING PURCHASED BY THE INVESTOR TO THE FOLLOWING ACCOUNT:

  

			
	Bank:	  	U.S. Bank National Association
	ABA:	  	
	A/C:	  	
	BNF:	  	U.S. Bank Trust N.A.
	OBI:	  	Trust Finance Management
	Attn:	  	
	Ref	  	Leerink - Chelsea Escrow

 IT IS THE INVESTOR’S
RESPONSIBILITY TO (A) MAKE THE NECESSARY WIRE TRANSFER OR CONFIRM THE PROPER ACCOUNT BALANCE IN A TIMELY MANNER AND (B) ARRANGE FOR SETTLEMENT BY WAY OF DWAC IN A TIMELY MANNER. IF THE INVESTOR DOES NOT DELIVER THE AGGREGATE PURCHASE PRICE
FOR THE UNITS OR DOES NOT MAKE PROPER ARRANGEMENTS FOR SETTLEMENT IN A TIMELY MANNER, THE UNITS MAY NOT BE DELIVERED AT CLOSING TO THE INVESTOR OR THE INVESTOR MAY BE EXCLUDED FROM THE CLOSING ALTOGETHER. 
 6. The executed Warrant included in the Units purchased by the Investor shall be delivered in accordance with the terms thereof. 

7. The Investor represents that, except as set forth below, (a) it has had no position, office or other material relationship within
the past three years with the Company or persons known to it to be affiliates of the Company, (b) it is not a FINRA member or an Associated Person (as such term is defined under the FINRA Membership and Registration
Rules Section 1011) as of the Closing, and (c) neither the Investor nor any group of Investors (as identified in a public filing made with the Commission) of which the Investor is a part in connection with the Offering of the Units,
acquired, or obtained the right to acquire, 20% or more of the Common Stock (or securities convertible into or exercisable for Common Stock) or the voting power of the Company on a post-transaction basis. 
 Exceptions: 
 (If no
exceptions, write “none.” If left blank, response will be deemed to be “none.”) 
 8. The Investor
represents that it has received or can obtain on the Commission’s EDGAR filing system the Base Prospectus, which is part of the Company’s Registration Statement, the documents incorporated by reference therein, and any free writing
prospectus (collectively, the “Disclosure

  

 Page 2 

 
Package”), prior to or in connection with the receipt of this Agreement along with the Company’s counterpart to this Agreement. 
 9. No offer by the Investor to buy Units will be accepted and no part of the Purchase Price will be delivered to the Company until the
Company has accepted such offer by countersigning a copy of this Agreement, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the Company (or a Placement Agent on behalf of the
Company) sending (orally, in writing, or by electronic mail) notice of its acceptance of such offer. An indication of interest will involve no obligation or commitment of any kind until this Agreement is accepted and countersigned by or on behalf of
the Company. 
  

											
	Number of Units:	 	  
	  		  		  	
	Purchase Price Per Unit:    $2.72	  		  		  		  	
	Aggregate Purchase Price:    $	  	  
	  		  		  	

 Please confirm that the foregoing correctly sets forth the agreement between us by signing in the space provided
below for that purpose. 
 Dated as of February 26, 2010 
  

			
	 
	INVESTOR
		
	By:	 	  

			
		
	Name:	 	  

			
		
	Title:	 	  

			
		
	Address:	 	  

	
	  

	
	  

 Agreed and accepted this 26th day of February, 2010: 
  

			
	 CHELSEA THERAPEUTICS INTERNATIONAL, LTD.

		
	 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

  

 Page 3 

 ANNEX I 
 TERMS AND CONDITIONS FOR PURCHASE OF UNITS 
 1. Authorization and Sale
of the Units. Subject to the terms and conditions of this Agreement, the Company has authorized the sale of the Units. 
 2.
Agreement to Sell and Purchase the Units; Placement Agents.  
 2.1 At the Closing (as defined in Section 3.1 of
this Annex I), the Company will sell to the Investor, and the Investor will purchase from the Company, upon the terms and conditions set forth herein, the number of Units set forth on the last page of the Agreement to which these Terms and
Conditions for Purchase of Units are attached as Annex I (the “Signature Page”) for the aggregate purchase price therefor set forth on the Signature Page. 
 2.2 The Company proposes to enter into substantially this same form of Subscription Agreement with certain other investors (the
“Other Investors”) and expects to complete sales of Units to them. The Investor and the Other Investors are hereinafter sometimes collectively referred to as the “Investors,” and this Agreement and the Subscription
Agreements executed by the Other Investors are hereinafter sometimes collectively referred to as the “Agreements.” 
 2.3 The Investor acknowledges that the Company intends to pay Leerink Swann LLC and Needham & Company, LLC (collectively, the “Placement Agents”) a fee (the “Placement Fee”) in respect of the sale
of Units to the Investor. 
 2.4 The Company has entered into a Placement Agency Agreement, dated February 26, 2010 (the
“Placement Agreement”), with the Placement Agents that contains certain representations, warranties, covenants, and agreements of the Company that may be relied upon by the Investor, which shall be a third party beneficiary thereof.
A copy of the Placement Agreement is available upon request. 
 3. Closings and Delivery of the Units and Funds. 

 3.1 Closing. The completion of the purchase and sale of the Units (the “Closing”) shall occur at a
place and time (the “Closing Date”) to be specified by the Company and the Placement Agents, and of which the Investors will be notified in advance by the Placement Agents, in accordance with Rule 15c6-1 promulgated under the
Securities Exchange Act of 1934, as amended (the “Exchange Act”). The Closing is expected to occur on March 5, 2010, and pursuant to Rule 15c6-1(a) of the Exchange Act, the Investor and Company expressly agree that the Closing Date
shall occur later than the third business day after the date of this Agreement. At the Closing, (a) the Company shall cause the Transfer Agent to deliver to the Investor the number of Shares set forth on the Signature Page registered in the
name of the Investor or, if so indicated on the Investor Questionnaire attached hereto as Schedule A, in the name of a nominee designated by the Investor, (b) the Company shall cause to be delivered to the Investor a Warrant to
purchase a number of whole Warrant Shares determined by multiplying the number of Shares set forth on the signature page by the Warrant Ratio and rounding down to the nearest whole number and (c) the aggregate purchase price for the Units being
purchased by the Investor will be delivered by or on behalf of the Investor to the Company. 
 3.2 (a) Conditions to the
Company’s Obligations. The Company’s obligation to issue and sell the Units to the Investor shall be subject to: (i) the receipt by the Company of the purchase price for the Units being purchased hereunder as set forth on the
Signature Page and (ii) the accuracy of the 
  

 Annex I - Page 1 

 
representations and warranties made by the Investor and the fulfillment of those undertakings of the Investor to be fulfilled prior to the Closing Date. 
 (b) Conditions to the Investor’s Obligations. The Investor’s obligation to purchase the Units will be subject to (I) the
accuracy of the representations and warranties made by the Company and the fulfillment of those undertakings of the Company to be fulfilled prior to the Closing Date that are contained in the Placement Agreement and the Subscription Agreement, (II)
to the condition that on the Closing Date, the Registration Statement shall be effective and no stop order shall have been issued by the Securities and Exchange Commission with respect to the Registration Statement, and (III) to the condition that
the Placement Agents shall not have: (i) terminated the Placement Agreement pursuant to the terms thereof or (ii) determined that the conditions to the closing in the Placement Agreement have not been satisfied. The Investor’s
obligations are expressly not conditioned on the purchase by any or all of the Other Investors of the Units that they have agreed to purchase from the Company or the issuance of any minimum amount of Units by the Company. 
 3.3 Delivery of Funds by Electronic Book-Entry at The Depository Trust Company. No later than one (1) business day prior
to the Closing Date (provided that such deadline shall not be earlier than March 4, 2010), the Investor shall remit by wire transfer the amount of funds equal to the aggregate purchase price for the Units included in the Units being
purchased by the Investor to the following account designated by the Company and the Placement Agents pursuant to the terms of that certain Escrow Agreement (the “Escrow Agreement”) dated as of February 26, 2010, by and among the
Company, the Placement Agents and U.S. Bank National Association (the “Escrow Agent”): 
  

					
	 	 	Bank:	  	U.S. Bank National Association
		 	ABA:	  	
		 	A/C:	  	
		 	BNF:	  	U.S. Bank Trust N.A.
		 	OBI:	  	Trust Finance Management
		 	Attn:	  	
		 	Ref	  	Leerink - Chelsea Escrow

 Such funds shall
be held in escrow until the Closing and delivered by the Escrow Agent on behalf of the Investors to the Company upon the satisfaction, in the reasonable judgment of the Placement Agents, of the conditions set forth in Section 3.2(b) hereof. The
Placement Agents shall have no rights in or to any of the escrowed funds unless the Placement Agents and the Escrow Agent are notified in writing by the Company in connection with the Closing that a portion of the escrowed funds shall be applied to
the Placement Fee and reimbursable expenses of the Placement Agents as contemplated by Section 2(e) of the Placement Agreement. The Company and the Investor agree to indemnify and hold the Escrow Agent and the Placement Agents harmless up to
its pro-rata share based on its investment amount from and against any and all losses, costs, damages, expenses and claims (including, without limitation, court costs and reasonable attorneys fees) (“Losses”) arising under this
Section 3.3 or otherwise with respect to the funds held in escrow pursuant hereto or arising under the Escrow Agreement, unless it is finally determined that such Losses resulted directly from the willful misconduct or gross negligence of the
Escrow Agent or the Placement Agents. Anything in this Agreement to the contrary notwithstanding, in no event shall the Escrow Agent or the Placement Agents be liable for any special, indirect or consequential loss or damage of any kind whatsoever
(including but not limited to lost profits), even if the Escrow Agent or the Placement Agents have been advised of the likelihood of such loss or damage and regardless of the form of action. 
 3.4 Delivery of Shares by Electronic Book-Entry at The Depository Trust Company. No later than one (1) business day prior
to the Closing Date (provided that such deadline shall not be earlier than March 4, 2010), the Investor shall direct the custodial agent or broker-dealer at which the account or accounts to be credited with the Shares being purchased by such
Investor are maintained, which custodial agent or broker/dealer shall be a DTC participant, to set up a Deposit/Withdrawal at Custodian (“DWAC”)

  

 Annex I - Page 2 

 
instructing Corporate Stock Transfer, Inc., the Company’s transfer agent, to credit such account or accounts with the Shares by means of an electronic book-entry delivery. Such DWAC shall
indicate the settlement date for the deposit of the Shares, which date shall be provided to the Investor by the Placement Agents. Simultaneously with the delivery to the Company by the Escrow Agent of the funds held in escrow pursuant to
Section 3.3 above, the Company shall direct its transfer agent to credit the Investor’s account or accounts with the Shares pursuant to the information contained in the DWAC. 
 4. Representations, Warranties and Covenants of the Investor.  
 4.1 The Investor represents and warrants to, and covenants with, the Company that (a) the Investor is knowledgeable, sophisticated and
experienced in making, and is qualified to make decisions with respect to, investments in shares presenting an investment decision like that involved in the purchase of the Units, including investments in securities issued by the Company and
investments in comparable companies, and has requested, received, reviewed and considered all information it deemed relevant in making an informed decision to purchase the Units, (b) the Investor has answered all questions on the Signature Page
and the Investor Questionnaire for use in preparation of the Prospectus Supplement and the answers thereto are true and correct as of the date hereof and will be true and correct as of the Closing Date and (c) the Investor, in connection with
its decision to purchase the number of Units set forth on the Signature Page, has reviewed the Disclosure Package and is relying only upon the Disclosure Package and the representations and warranties of the Company contained herein and the
Placement Agreement. 
 4.2 The Investor acknowledges, represents and agrees that no action has been or will be taken in any
jurisdiction outside the United States by the Company or the Placement Agents that would permit an offering of the Units, or possession or distribution of offering materials in connection with the issue of the Units in any jurisdiction outside the
United States where action for that purpose is required. Each Investor outside the United States will comply with all applicable laws and regulations in each foreign jurisdiction in which it purchases, offers, sells or delivers Units or has in its
possession or distributes any offering material, in all cases at its own expense. The Placement Agents are not authorized to make and have not made any representation or use of any information in connection with the issue, placement, purchase and
sale of the Units, except as set forth or incorporated by reference in the Disclosure Package. 
 4.3 The Investor further
represents and warrants to, and covenants with, the Company that (a) the Investor has full right, power, authority and capacity to enter into this Agreement and to consummate the transactions contemplated hereby and has taken all necessary
action to authorize the execution, delivery and performance of this Agreement, and (b) this Agreement constitutes a valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles
of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and except as the indemnification agreements of the Investors herein may be legally unenforceable. 
 4.4 The Investor understands that nothing in this Agreement, the Prospectus or any other materials presented to the Investor in connection
with the purchase and sale of the Units constitutes legal, tax or investment advice. The Investor has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its
purchase of Units. 
 4.5 Each Investor represents, warrants and agrees that, since the earlier to occur of (i) the date on
which any Placement Agent first contacted such Investor about the Offering and (ii) the date of this Agreement, it has not engaged in any transactions in the securities of the Company in violation of securities laws (including, without
limitation, any Short Sales involving the Company’s securities). Each

  

 Annex I - Page 3 

 
Investor covenants that it will not engage in any transactions in the securities of the Company (including Short Sales) prior to the time that the transactions contemplated by this Agreement are
publicly disclosed. Each Investor agrees that it will not use any of the Securities acquired pursuant to this Agreement to cover any short position in the Common Stock if doing so would be in violation of applicable securities laws. For purposes
hereof, “Short Sales” include, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, whether or not against the box, and all types of direct and indirect
stock pledges, forward sales contracts, options, puts, calls, short sales, swaps, “put equivalent positions” (as defined in Rule 16a-1(h) under the Exchange Act) and similar arrangements (including on a total return basis), and sales
and other transactions through non-US broker dealers or foreign regulated brokers. 
 5. Survival of Representations,
Warranties and Agreements; Third Party Beneficiary. Notwithstanding any investigation made by any party to this Agreement or by the Placement Agents, all covenants, agreements, representations and warranties made by the Company and the Investor
herein will survive the execution of this Agreement, the delivery to the Investor of the Units being purchased and the payment therefor. The Placement Agents shall be third party beneficiaries with respect to representations, warranties and
agreements of the Investor in Section 4 hereof. 
 6. Notices. All notices, requests, consents and other
communications hereunder will be in writing, will be mailed (a) if within the domestic United States by first-class registered or certified airmail, or nationally recognized overnight express courier, postage prepaid, or by facsimile or
(b) if delivered from outside the United States, by International Federal Express or facsimile, and will be deemed given (i) if delivered by first-class registered or certified mail domestic, three business days after so mailed,
(ii) if delivered by nationally recognized overnight carrier, one business day after so mailed, (iii) if delivered by International Federal Express, two business days after so mailed and (iv) if delivered by facsimile, upon electric
confirmation of receipt and will be delivered and addressed as follows: 
 6.1 if to the Company, to: 
 Chelsea Therapeutics International, Ltd. 
 3530 Torrington Way 
 Suite 200 
 Charlotte, North Carolina 28277 
 Facsimile: (704) 752-1479 
 Attention: Chief Financial Officer 
 with copies to: 
 Wyrick Robbins Yates & Ponton LLP 
 4101 Lake Boone Trail, Suite 300 
 Raleigh, NC 27607 
 Facsimile: (919) 781-4865 
 Attention: Alexander M. Donaldson, Esq. 
 6.2 if to the Investor, at its address on the Signature Page hereto, or at such other address or addresses as may have been furnished to the
Company in writing. 
 7. Changes. This Agreement may not be modified or amended except pursuant to an instrument in
writing signed by the Company and the Investor. 
  

 Annex I - Page 4 

 8. Headings. The headings of the various sections of this Agreement have been
inserted for convenience of reference only and will not be deemed to be part of this Agreement. 
 9. Severability. In
case any provision contained in this Agreement should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein will not in any way be affected or impaired thereby.

 10. Governing Law. This Agreement will be governed by, and construed in accordance with, the internal laws of the
State of Delaware, without giving effect to the principles of conflicts of law that would require the application of the laws of any other jurisdiction. 
 11. Counterparts. This Agreement may be executed in two or more counterparts, each of which will constitute an original, but all of which, when taken together, will constitute but one instrument,
and will become effective when one or more counterparts have been signed by each party hereto and delivered to the other parties. The Company and the Investor acknowledge and agree that the Company shall deliver its counterpart to the Investor along
with the Base Prospectus and the Prospectus Supplement (or the filing by the Company of an electronic version thereof with the Commission). 
 12. Confirmation of Sale. The Investor acknowledges and agrees that such Investor’s receipt of the Company’s counterpart to this Agreement, together with the Base Prospectus and the
Prospectus Supplement (or the filing by the Company of an electronic version thereof with the Commission), shall constitute written confirmation of the Company’s sale of Units to such Investor. 
 13. Press Release. The Company and the Investor agree that the Company shall issue a press release announcing the material terms of
the Offering prior to the opening of the financial markets in New York City on the business day immediately after the date hereof to the extent permitted by applicable law and the rules and regulations of the Commission. 
 14. Termination. In the event that the Placement Agreement is terminated by the Placement Agents pursuant to the terms thereof, this
Agreement shall terminate without any further action on the part of the parties hereto. 
  

 Annex I - Page 5 

 SCHEDULE A TO ANNEX I 
 CHELSEA THERAPEUTICS INTERNATIONAL, LTD. 
 INVESTOR
QUESTIONNAIRE 
 Pursuant to Section 3 of Annex I to the Agreement, please provide us with the following information:

 1. The exact name that your Shares and Warrants are to be registered in. You may use a nominee name if appropriate: 
  

					
	  
	 		 	

 2. The relationship between the Investor and the registered holder listed in response to item 1 above: 

 

					
	  
	 		 	

 3. The mailing address of the registered holder listed in response to item 1 above: 
  

					
	  
	 		 	
			
	  
	 		 	

 4. The Social Security Number or Tax Identification Number of the registered holder listed in the response to item
1 above: 
  

					
	  
	 		 	

 5. Name of DTC Participant (custodial agent or broker-dealer at which the account or accounts to be credited with
the Shares are maintained); please include the name and telephone number of the contract person at the custodial agent or broker-dealer: 
  

					
	  
	 		 	

  

					
	  
	 		 	

  

					
	  
	 		 	

 6. DTC Participant Number: 
  

					
	  
	 		 	

 7. Name of Account at DTC Participant being credited with the Shares: 
  

					
	  
	 		 	

  

					
	  
	 		 	

 8. Account Number at DTC Participant being credited with the Shares: 
  

					
	  
	 		 	

  

 Schedule A to Annex - Page 1Amendment Number Five to the Amended and Restated Wafer Supply Agreement

 Exhibit 10.65 
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED
BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES
AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE
ACT OF 1934, AS AMENDED. 
 AMENDMENT NUMBER FIVE

 TO 
 WAFER SUPPLY AGREEMENT 
 This Amendment Number Five (the “Amendment”), effective as of December 1, 2009 (the
“Amendment Effective Date”), amends the Wafer Supply Agreement effective as of May 23, 2003 (as previously amended) (the “Agreement”), by and between X-FAB Dresden GmbH & Co. KG (successor in interest to ZMD Analog
Mixed Signal Services GmbH & CoKG) a German corporation (the “Company”) and Power Integrations International, Ltd. (“PI”) a Cayman Islands corporation having its principal place of business at 4th Floor, Century Yard,
Cricket Square, Elgin Avenue, P.O. Box 32322, Grand Cayman KY 1-1209. Unless specifically designated otherwise, capitalized terms used herein shall have the same meanings given them in the Agreement. 
 RECITALS 
 WHEREAS, pursuant to the terms of the Agreement, PI grants to Company licenses of certain of PI’s intellectual property for the sole purpose of PI acquiring from Company the fabrication and supply of wafers of certain power IC
products; and 
 WHEREAS, PI and Company desire to amend the terms of the Agreement; and 
 WHEREAS, in accordance with Section 18.10 of the Agreement, the Agreement may be amended only by an instrument in writing duly executed
by authorized officers of Company and PI. 
 NOW, THEREFORE, in consideration of the mutual promises contained herein and other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby amend the Agreement as follows: 
 AGREEMENT 
  

	1.	Section 2.3 of the Agreement is deleted in its entirety and replaced with the following: 

 PI must order at least the quantity of WAFERS by WAFER TYPE forecasted in [*] months of the PI MONTHLY FORECAST unless SUPPLIER agrees to any
change. 
  

	2.	The following Section 2.4 is added to the Agreement: 

 The PI MONTHLY FORECAST will be either [*] whole weeks for each forecasted month so as to align with SUPPLIER’s manufacturing calendar. The PI MONTHLY FORECAST will be (a) no less than [*]
WAFERS per week during the [*] of calendar year 2010 and no less than [*] WAFERS per week during the [*] of calendar year 2010 (the total annual amount of WAFERS, the “2010 Wafer Commitment”) and (b) no more than the FOUNDRY CAPACITY
(i.e., the CURRENT FOUNDRY CAPACITY or INCREASED FOUNDRY CAPACITY, as applicable in accordance with Exhibit A). 
 Confidential 
 
 1
.. 

 Notwithstanding the foregoing, to the extent SUPPLIER is unable to fulfill any PO from PI
because of quality or any other issues (“Unfulfilled Wafers”), then (a) PI will have no obligation to purchase the Unfulfilled Wafers, and (b) the number of Unfulfilled Wafers will count towards PI’s satisfaction of the 2010
Wafer Commitment (i.e., the 2010 Wafer Commitment will be decreased by the number of Unfulfilled Wafers). 
 Both parties agree
to negotiate in good faith any changes in the terms, for calendar years after 2010, regarding the PI MONTHLY FORECAST and the FOUNDRY CAPACITY, at least [*] ([*]) months prior to any such changes becoming effective. 
  

	3.	Section 13.1 of the Agreement is deleted in its entirety and replaced with the following: 

 This Agreement shall continue in full force and effect from the Effective Date until December 31, 2012, unless earlier terminated as
provided herein (“Term”). 
  

	4.	The Agreement covers PI’s acquisition of wafer fabrication and supply services from SUPPLIER based on [*] inch ([*]”) WAFERS. It is recognized by the parties
that the Wafer Supply Agreement amended by this Amendment number five shall not apply to the development and manufacture of [*] inch ([*]) WAFERS. The parties agree to negotiate in good faith regarding PI’s potential acquisition of additional
WAFER fabrication and supply services for [*] inch ([*]”) WAFERS from SUPPLIER under a new and separate Wafer Supply Agreement as early as agreeable but no later than [*] ([*] Wafer Supply Agreement”). If, in the process of negotiating the
[*] Wafer Supply Agreement, both parties agree that subordination of or modifications to the Agreement are required, then such subordination or modifications to the Agreement will be negotiated in good faith. 

  

	5.	[*] Machine 

 a. SUPPLIER has
purchased (1) the following manufacturing equipment defined below, which is an [*] machine (“[*]”): [*] Machine / Model: [*]; and (2) installation of the [*] and fitting for [*]. 
 b. SUPPLIER will own the [*] and, except as set forth above, will be responsible for full installation, connection to existing equipment,
testing and qualification of the [*] at SUPPLIER’s facility. Qualification will be in accordance with a qualification plan mutually agreed upon in writing between SUPPLIER and PI. Qualification shall not be complete until the date PI reasonably
agrees in writing that the foregoing qualification plan has been met. 
 c. SUPPLIER shall keep the [*] in operating condition
and available for VOLUME PRODUCTION during the Term of this Agreement. SUPPLIER shall be responsible for the maintenance and operation of the [*]. SUPPLIER will pay for all repairs of the [*]. Any repairs should be completed in reasonable time
provided, however, that if a repair cannot be completed within [*] ([*]) calendar days from discovery of the need for such repair, then SUPPLIER shall give immediate written notice to PI describing (1) the problem preventing repair in such [*]
([*]) day period, and (2) a firm schedule for completing the repair. 
  

 Confidential 
 2. 
 CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE
24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 d. SUPPLIER shall not modify the [*] without the prior written approval of PI. SUPPLIER will
pay for any modifications of the [*]. PI shall determine whether the approved modification requires re-qualification of the [*]. SUPPLIER agrees to re-qualify the [*] if so determined in accordance with a mutually agreed-to, written qualification
plan. Such re-qualification will be at SUPPLIER’s expense. 
 e. Without PI’s prior written consent, SUPPLIER shall
not (a) move or relocate the [*], (b) lend or transfer it to any third party, or (c) encumber the [*] with any lien or other security interest, except for the terms and conditions of any grant by the German government. 
 f. The [*] will be used for manufacturing WAFERS for PI, and for PI research and development activities. The [*] will not be used for the
benefit of competitors of PI. SUPPLIER will obtain prior written consent of PI for the use of the [*] for third parties. Such consent will not unreasonably be withheld. The operation of the [*] for any other use is permitted as long as delivery and
FOUNDRY CAPACITY commitments by SUPPLIER to PI are met. 
 g. SUPPLIER will maintain, at its sole cost and expense, the same
types and amounts of insurance for the [*] as SUPPLIER maintains for its other similar equipment at SUPPLIER’s facility. A Certificate of Insurance indicating such coverage shall be delivered to PI upon request. The Certificate shall indicate
that the policy will not be changed or terminated without at least [*] ([*]) days’ prior notice to PI, shall name PI as an additional named insured and shall also indicate that the insurer has waived its subrogation rights against PI.

 h. SUPPLIER hereby grants a security interest in the [*] furnished hereunder and the proceeds therefrom, to secure full
re-payment of the [*] COST to PI in accordance with this Agreement. SUPPLIER agrees to execute any financing statements or other documents PI requests to protect its security interest. 
 i. The requirements of Sections 5(d), (e), (f), (g), and (h) will expire upon the earlier of the date that SUPPLIER delivers and PI
accepts the Rebate Number of Wafers (defined below) or upon the date that PI is paid the total amount set forth in Section 5(k). 
 j. For the [*] costs, PI will pay SUPPLIER [*] U.S. dollars (U.S. $[*]) (“[*] Cost”) (i.e., U.S. $[*] for the [*] and U.S. $[*] for installation and fitting), provided that SUPPLIER will pay PI back for the [*] Cost in the form of
[*] U.S. dollars (U.S. $[*]) discounts per wafer after the Rebate Milestone Date until SUPPLIER delivers and PI accepts [*] ([*]) WAFERS (“Rebate Number of Wafers”) (i.e., U.S. $[*] x [*] = U.S. $[*]). The “Rebate Milestone Date”
means the date on which the [*] is qualified for production by PI. Upon PI’s receipt of written confirmation of the [*] order, PI will pay SUPPLIER the [*] Cost in accordance with the [*] purchase order payment timeframes. 
  

 Confidential 
 3. 
 CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE
24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 k. If this Agreement is terminated in accordance with Article 13 (“Term and
Termination”) of the Agreement before SUPPLIER delivers and PI accepts the Rebate Number of Wafers the SUPPLIER shall immediately pay PI the following amount: 
 (a) The difference of (i) the [*] minus (ii) the [*] under this Agreement after the Rebate Milestone Date, times (b) [*] U.S. dollars (U.S. $[*]). For example, but without limitation, if PI
has accepted [*] WAFERS between the Rebate Milestone Date and the termination date, then SUPPLIER shall pay PI ([*] – [*]) x ($[*]) = $[*]. 
 If this Agreement expires before SUPPLIER delivers and PI accepts the Rebate Number of Wafers, SUPPLIER will have no obligation to pay PI any funds under this Section 5(k), provided the quantity of WAFERS delivered by SUPPLIER was not
materially adversely affected by SUPPLIER’S quality, production, or delivery problems. 
  

	6.	Exhibit A to the Agreement is deleted in its entirety and replaced with Exhibit A attached hereto. 

  

	7.	Exhibit B to the Agreement is deleted in its entirety and replaced with Exhibit B attached hereto. Exhibit B attached hereto shall apply to all POs submitted by PI on
or after the Amendment Effective Date. 

  

	8.	Effective as of the Amendment Effective Date, all references in the Agreement to the “Agreement” or “this Agreement” shall mean the Agreement as
amended by this Amendment. Except as expressly amended herein, the terms of the Agreement continue unchanged and shall remain in full force and effect. This Amendment may be executed in one or more counterparts, each of which shall be considered an
original, but all of which counterparts together shall constitute one and the same instrument. 

 IN WITNESS WHEREOF, the parties
have caused this Amendment to be executed by their duly authorized representatives, effective as of the Amendment Effective Date. 
  

									
	X-FAB DRESDEN GMBH & CO. KG	 		 	POWER INTEGRATIONS INTERNATIONAL, LTD.
					
	By:	 	 /s/ Chris Forster
	 		 	By:	 	 /s/ John Tomlin

	Name:	 	 Chris Forster
	 		 	Name:	 	 John Tomlin

	Title:	 	 Chief Financial Officer
	 		 	Title:	 	 President

					
	By:	 	 /s/ TH Hariung
	 		 		 	
	Name:	 	 TH Hariung
	 		 		 	
	Title:	 	 Vice President, Marketing & Sales
	 		 		 	

  

 Confidential 
 4. 
 CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE
24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Exhibit A 
 SUPPLIER FOUNDRY CAPACITY AND PI ANNUAL FORECAST 
 1. SUPPLIER FOUNDRY CAPACITY 

a. The following FOUNDRY CAPACITY of [*] WAFERS per week will be committed effective from [*] through [*] (the “CURRENT FOUNDRY CAPACITY”). The
committed FOUNDRY CAPACITY will change to [*] WAFERS per week effective from [*] onwards. The FOUNDRY CAPACITY will be increased to the INCREASED FOUNDRY CAPACITY (defined below). PI may request and SUPPLIER may approve an increase in the monthly
CURRENT FOUNDRY CAPACITY in addition to the limits above via the PI MONTHLY FORECAST. Notwithstanding anything to the contrary in Section 2.1 of the Agreement, in no event will the FOUNDRY CAPACITY exceed the CURRENT FOUNDRY CAPACITY or
INCREASED FOUNDRY CAPACITY (as applicable) unless the parties agree otherwise in writing. 
 b. The parties hereby agree to use commercially
reasonable efforts to increase the FOUNDRY CAPACITY up to [*] WAFERS per week or the actual increase in FOUNDRY CAPACITY finally achieved, (the “INCREASED FOUNDRY CAPACITY”) on or before the end of [*], and in any event as early as
possible, in accordance with this Section. Such efforts will include purchase, installation, qualification and implementation of a new [*] machine, as well as analysis and elimination of other potential equipment-based limits to FOUNDRY CAPACITY.
SUPPLIER will promptly notify PI in writing when the INCREASED FOUNDRY CAPACITY is available. 
 c. SUPPLIER will take all reasonable measures,
including without limitation those described in this Exhibit A, to expand its FOUNDRY CAPACITY to the INCREASED FOUNDRY CAPACITY, BUT SUPPLIER DOES NOT WARRANT, NEITHER IMPLIED NOR EXPRESSLY, THAT SUCH MEASURES WILL BE SUCCESSFUL AND LEAD TO THE
INCREASED FOUNDRY CAPACITY. 
 d. If the parties enter into an [*] Wafer Supply Agreement, the parties will re-negotiate in good faith the
FOUNDRY CAPACITY for [*] WAFERS that would be replaced by [*] wafers. 
 2. PI’s projected PI ANNUAL FORECAST of WAFER orders 

The table below summarizes the PI ANNUAL FORECAST for the next three years. Except for the 2010 Wafer Commitment, the PI ANNUAL FORECAST are non-binding
estimates. Estimated volume for calendar year 2010 is comprised of the 2010 Wafer Commitment, and some number of WAFERS above the 2010 Wafer Commitment, dependent upon the PI MONTHLY FORECAST and the availability of the INCREASED FOUNDRY CAPACITY.

  

									
	 SUPPLIER (FY)
	  	 2009
	 	 2010
	 	 2011
	 	 2012

	WAFERS	  	[*]	 	[*]
(inclusive of [*] 2010 Wafer

 Commitment)
	 	[*]	 	[*]

  

 Confidential 
 5. 
 CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE
24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Exhibit B 
 PRICES 
 [*] Inch DC/DS PROCESS WAFER 

							
	Price:	 	[*] layers	 	less than [*]	 	$[*]
		 		 	[*]-[*]	 	$[*]
		 		 	[*]-[*]	 	$[*]
		 		 	[*]-[*]	 	$[*]
		 		 	[*]	 	$[*]
	Pricing is [*].	 		 		 	
				
	 Delivery times:
	 		 	 [*]
	 	DC PROCESS
			
		 	ENGINEERING WAFER	 	
	Price:	 	 Std. and non-std. run
	 	$[*]
		 	 Hot run
	 	$[*]
		 	 Minimum wafer lot size
	 	[*] wafers
				
	Delivery times:	 		 		 	
		 	 Standard run
	 	[*]
		 	 Hot run
	 	[*]
		 	 Non-Standard run
	 	[*]
			
		 	 MASK TOOLING SET
	 	
			
	Price:	 	 [*] mask set
	 	
		 	 ([*] [*] masks)
	 	
		 	 ([*] [*] masks)
	 	$[*]
			
		 	 Individual masks
	 	
			
		 	 [*] mask $[*]
	 	
		 	 [*] mask $[*]
	 	
			
	Vendors:	 	 [*]
	 	

 THE ABOVE PRICES ARE FOR [*]. ALL PRICES ABOVE FOR [*] WILL BE NEGOTIATED IN THE [*] OF THE [*] BEGINNING IN [*]
AND PAID IN US DOLLARS. IF THE PARTIES ARE UNABLE TO AGREE ON PRICING FOR [*] PRIOR TO THE [*] OF THE [*], THEN THE PRICING FROM THE [*] WILL APPLY FOR SUCH [*]. 
  

 Confidential 
 6. 
 CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE
24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

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