Document:

Exhibit 10.2

VOTING
AGREEMENT

This VOTING
AGREEMENT (this “Agreement”) is made and entered into as of May 14,
2006, by and among Magellan Holdings, Inc., a Georgia corporation (“Parent”),
Globetrot Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary
of Parent (“Merger Sub”), on the one hand, and each undersigned
stockholder (each, a “Stockholder”) of SSA Global Technologies, Inc.,
a Delaware corporation (the “Company”), on the other hand. Capitalized
terms used and not otherwise defined herein shall have the respective meanings
set forth in the Merger Agreement described below.

W I T N E S S E T H:

WHEREAS, pursuant
to an Agreement and Plan of Merger, dated as of May 14, 2006, by and among
Parent, Merger Sub and the Company (the “Merger Agreement”), Parent has
agreed to acquire the outstanding capital stock of the Company pursuant to a
statutory merger of Merger Sub with and into the Company in which outstanding
shares of capital stock of the Company will be converted into the right to
receive the Cash Merger Consideration;

WHEREAS, as a
condition to the willingness of Parent and Merger Sub to enter into the Merger
Agreement and as an inducement and in consideration therefor, each Stockholder
has agreed to enter into this Agreement; and

WHEREAS, each
Stockholder is the record and legal owner of that number of shares of common
stock, par value $0.01 per share (“Common Stock”) of the Company set
forth opposite such Stockholder’s name on Exhibit A hereto (the “Shares”)
(such Shares, together with any New Shares (as defined in Section 1.2),
being referred to herein as the “Subject Shares”).

NOW, THEREFORE, in
consideration of the foregoing and the mutual covenants and agreements herein
contained, and intending to be legally bound hereby, the parties hereby agree
as follows:

1.             Agreement to Retain Subject Shares.

1.1.          Prior to the
Expiration Date (as defined below), each Stockholder agrees not to: (a) transfer,
assign, sell, gift-over, pledge or otherwise dispose of, or consent to any of
the foregoing, any or all of the Subject Shares or any right or interest
therein (“Transfer”); (b) enter into any contract, option or other
agreement, arrangement or understanding with respect to any Transfer; (c) grant
any proxy, power-of-attorney or other authorization or consent with respect to
any of the Subject Shares (other than the proxy contemplated in Section 3
herein); or (d) deposit any of the Subject Shares into a voting trust, or
enter into a voting agreement or arrangement with respect to any of the Subject
Shares; provided, however, that notwithstanding the foregoing,
from the date hereof until the Expiration Date, each Stockholder shall be
permitted to Transfer its Subject Shares, or any interest or right therein, to
any Affiliate of such Stockholder, provided that, in connection with any such
Transfer, such Affiliate shall (x) execute a counterpart to this Agreement
and grant a proxy to Parent in form substantially identical to that set forth
in Section 3 below, and (y) agree in writing to hold such Subject
Shares, or such interest or right therein, subject to the terms and conditions
of this Agreement. As used herein, the term “Expiration

 

Date”
shall mean the earlier to occur of (x) the Effective Time, or (y) termination
of the Merger Agreement in accordance with the terms thereof.

1.2.          “New Shares”
means:

(a)           any shares of
capital stock or voting securities of the Company that a Stockholder purchases
or with respect to which such Stockholder otherwise acquires beneficial
ownership (whether through the exercise of any options, warrants or other
rights to purchase shares of Common Stock or otherwise) after the date of this
Agreement and prior to the Expiration Date; and

(b)           any shares of
capital stock or voting securities of the Company that a Stockholder becomes
the beneficial owner of as a result of any change in Common Stock by reason of
a stock dividend, stock split, split-up, recapitalization, reorganization,
business combination, consolidation, exchange of shares, or any similar
transaction or other change in the capital structure of the Company affecting
the Common Stock.

2.             Agreement to Vote Subject Shares and Take Certain
Other Action.

2.1.          Prior to the
Expiration Date, at every meeting of the stockholders of the Company, however
called, at which any of the following matters is considered or voted upon, and
at every adjournment or postponement thereof, each Stockholder shall vote or
cause to be voted its Subject Shares:

(a)           in favor of adoption
of the Merger Agreement and the transactions contemplated thereby;

(b)           against approval of
any proposal made in opposition to or competition with consummation of the
Merger;

(c)           against any
Acquisition Proposal from any party other than Parent or an Affiliate of
Parent;

(d)           against any
extraordinary corporate transaction (other than the Merger), such as a merger,
consolidation, business combination, tender or exchange offer, reorganization,
recapitalization, sale or transfer of a material amount of the assets or
securities of the Company or any of its Subsidiaries (other than in connection
with the Merger);

(e)           against any
amendment of the Company’s Certificate of Incorporation or By-laws; and

(f)            against any
dissolution, liquidation or winding up of the Company.

2.2.          Prior to the
Expiration Date, each Stockholder, as the holder of the Subject Shares set
forth opposite its name on Exhibit A hereto, shall be present, in
person or by proxy, or, using Stockholder’s best efforts and to the full extent
legally permitted, attempt to cause the holder of record to be present, in
person or by proxy, at all meetings of stockholders of the Company at

 2
 

 

which the
matters referred to in Section 2.1 is to be voted upon so that all Subject
Shares are counted for the purposes of determining the presence of a quorum at
such meetings.

2.3.          Between the date of
this Agreement and the Expiration Date, each Stockholder agrees not to, and
will not permit any entity under such Stockholder’s control to, (a) solicit
proxies or become a “participant” in a “solicitation” (as such terms are defined
in Rule 14A under the Exchange Act) with respect to an Opposing Proposal
(as defined below) or (b) initiate a stockholders’ vote with respect to an
Opposing Proposal or (c) become a member of a “group” (as such term is
used in Section 13(d) of the Exchange Act) with respect to any voting
securities of the Company with respect to an Opposing Proposal. For purposes of
this Agreement, the term “Opposing Proposal” means any of the actions or
proposals described in clauses (b) through (e) of Section 2.1,
along with any proposal or action which would, or could reasonably be expected
to, impede, frustrate, prevent, prohibit or discourage any of the transactions
contemplated by the Merger Agreement; provided, however, that
notwithstanding anything to the contrary contained herein, at any time prior to
the Expiration Date, each Stockholder and its Representatives shall be
permitted to participate in any discussions or negotiations with any Person
regarding an Opposing Proposal to the extent that (x) such Stockholder’s
participation is requested by the Company, and (y) such discussions or
negotiations, if conducted by the Company, would then be permitted under the
terms of the Merger Agreement.

2.4.          Notwithstanding
anything else to the contrary set forth in this Agreement, nothing in this
Agreement shall limit or restrict any Representative of any Stockholder from (a) taking
any action in such Representative’s capacity as a director of the Company, to
the extent applicable, or (b) voting, in such Stockholder’s sole discretion,
on any matter other than the matters referred to in Section 2.1.

3.             Grant of Irrevocable Proxy Coupled with an Interest.

3.1.          Solely in the event
of a failure by a Stockholder to act in accordance with its obligations as to
voting pursuant to Section 2.1 of this Agreement, each such Stockholder
hereby revokes any and all other proxies in respect of any Subject Shares and
agrees that during the period commencing on the date hereof and ending on the
Expiration Date, such Stockholder hereby irrevocably appoints Parent, Merger
Sub or any individual designated by Parent or Merger Sub as such Stockholder’s
agent, attorney-in-fact and proxy (with full power of substitution), for and in
the name, place and stead of such Stockholder, to vote (or cause to be voted)
the Subject Shares held of record by such Stockholder, in the manner set forth
in Section 2.1, at any meeting of the stockholders of the Company, however
called.

3.2.          Each Stockholder
acknowledges that the proxy set forth in this Section 3 is irrevocable
until the Expiration Date, is coupled with an interest, and is granted in
consideration of Parent and Merger Sub entering into the Merger Agreement.

3.3.          The vote of the
proxyholder shall control in any conflict between the vote by the proxyholder of
Stockholder’s Subject Shares and a vote by Stockholder of Stockholder’s Subject
Shares.

 3
 

 

4.             Representations, Warranties and Covenants of
Stockholder. Each Stockholder, severally and not jointly, hereby
represents, warrants and covenants to Parent as follows:

4.1.          (a) Such
Stockholder is the record owner of the Subject Shares; (b) the Subject
Shares set forth opposite its name on Exhibit A hereto constitute
such Stockholder’s entire interest in the outstanding capital stock and voting
securities of the Company as of the date hereof; (c) the Subject Shares
are, and will be, at all times up until the Expiration Date, free and clear of
any liens, claims, options, charges, security interests, proxies, voting
trusts, agreements, rights, understandings or arrangements, or exercise of any
rights of a stockholder in respect of the Subject Shares or other encumbrances,
provided that (i) the Subject Shares beneficially owned by GapStar, LLC (“GapStar”)
have been pledged to a financial institution to secure certain obligations to
such financial institution and (ii) if GapStar acquires beneficial
ownership of any New Shares after the date of this Agreement and prior to the
Expiration Date, then such New Shares shall also be subject to such pledge and
security interest; (d) such Stockholder has voting power and the power of
disposition with respect to all of the Subject Shares set forth opposite it
name on Exhibit A hereto outstanding on the date hereof, and will have
voting power and power of disposition with respect to all of the Subject Shares
acquired by such Stockholder after the date hereof; and (e) such
Stockholder’s principal residence or place of business is accurately set forth
on Exhibit A hereto.

4.2.          Such Stockholder has
full power and legal capacity to execute and deliver this Agreement and to
comply with and perform such Stockholder’s obligations hereunder. This
Agreement has been duly and validly executed and delivered by such Stockholder
and constitutes the valid and binding obligation of such Stockholder, enforceable
against such Stockholder in accordance with its terms. The execution and
delivery of this Agreement by such Stockholder does not, and the performance of
Stockholder’s obligations hereunder will not result in any breach of or
constitute a default (or an event that with notice or lapse of time or both
would become a default) under, or give to others any right to terminate, amend,
accelerate or cancel any right or obligation under, or result in the creation
of any lien or encumbrance on any Subject Shares pursuant to, any note, bond,
mortgage, indenture, contract, agreement, lease, license, permit, franchise or
other instrument or obligation to which Stockholder is a party or by which
Stockholder or the Subject Shares are or will be bound or affected.

4.3.          Each Stockholder
hereby unconditionally and irrevocably instructs the Company not to, (a) permit
the Transfer or, or any grant of authority to vote with respect to, its Subject
Shares, in violation of this Agreement on its books and records by such Stockholder,
(b) issue a new certificate representing any such Subject Shares or (c) record
such vote unless and until such Stockholder shall have complied with the terms
of this Agreement.

5.             Termination. This Agreement and the proxy granted
pursuant to Section 3.1 hereof and all obligations of each Stockholder
hereunder and thereunder shall terminate and shall have no further force or
effect as of the Expiration Date.

6.             Severability. If any term or other provision of
this Agreement is invalid, illegal or incapable of being enforced under
applicable Law, all other conditions and provisions of this Agreement shall
nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner
materially

 4
 

 

adverse to any party. Upon such determination that any
term or other provision is invalid, illegal or incapable of being enforced,
this Agreement shall automatically be deemed to be modified so as to effect the
original intent of the parties as closely as possible in order that the
transactions contemplated hereby be consummated as originally contemplated to
the greatest extent possible.

7.             Binding Effect and Assignment. Neither this
Agreement nor any of the rights, interests or obligations under this Agreement
shall be assigned, in whole or in part, by operation of Law or otherwise by any
party without the prior written consent of the other party; provided, however,
Parent may, in its sole discretion, assign its rights and obligations hereunder
to any direct or indirect wholly-owned subsidiary of Parent. Any assignment in
violation of the preceding sentence shall be void. Subject to the preceding
sentences, this Agreement will be binding upon, inure to the benefit of, and be
enforceable by, the parties and their respective successors and assigns.

8.             Amendment and Modification. This Agreement may
not be amended except by an instrument in writing signed on behalf of each of
the parties.

9.             Specific Performance; Injunctive Relief. The parties
hereto acknowledge that Parent will be irreparably harmed and that there will
be no adequate remedy at Law for a violation of any of the covenants or
agreements of each Stockholder set forth herein. Therefore, it is agreed that,
in addition to any other remedies that may be available to Parent upon any such
violation, Parent shall have the right to enforce such covenants and agreements
by specific performance, injunctive relief or by any other means available to
Parent at Law or in equity and each such Stockholder hereby waives any and all
defenses which could exist in its favor in connection with such enforcement and
waives any requirement for the security or posting of any bond in connection
with such enforcement.

10.           Notices. All notices,
requests, claims, demands and other communications under this Agreement shall
be in writing and shall be deemed given if delivered personally, via facsimile
(which is confirmed) or sent by overnight courier (providing proof of delivery)
to the parties at the following addresses (or at such other address for a party
as shall be specified by like notice):

(a)           If
to Stockholder, to:

The address set forth opposite such Stockholder’s name
on Exhibit A

with a copy (which shall not constitute notice) to:

Paul, Weiss, Rifkind,
Wharton & Garrison LLP

1285 Avenue of the Americas 

New York, NY  10019

Attn:  Douglas A. Cifu, Esq.

Tel:  (212) 373-3436

Fax: (212) 757-3990

 5
 

 

(b)           if to Parent or Merger Sub, to:

Magellan Holdings, Inc.

13560 Morris Road

Alpharetta, GA
30004

Attention:          Chief Executive
Officer

Telephone:        (678) 319-8554

Facsimile:           (678) 319-7951

with a copy to:

Golden Gate
Private Equity, Inc.

One Embarcadero
Center, 33rd Floor

San Francisco, CA
94111

Attention:          David Dominik
                            Prescott Ashe

Telephone:        (415) 627-4500

Facsimile:           (415) 627-4501

and a copy (which
shall not constitute notice) to:

Kirkland &
Ellis LLP

200 East Randolph
Drive

Chicago, Illinois
60601-6636

Attention:          Jeffrey C. Hammes, P.C.
                            Gary M.
Holihan, P.C.

Telephone:        (312) 861-2000

Facsimile:           (312) 861-2200

or to such other address as any party hereto may designate for itself
by notice given as herein provided.

11.           Expenses. Each party hereto
shall pay its own expenses incurred in connection with this Agreement.

12.           Governing Law. This Agreement
shall be governed by, and construed in accordance with, the laws of the State
of Delaware, regardless of the laws that might otherwise govern under
applicable principles of conflict of laws thereof.

13.           Submission to Jurisdiction. Each
party hereby irrevocably and unconditionally agrees that any action, suit or
proceeding, at Law or equity, arising out of or relating to this Agreement or
any agreements or transactions contemplated hereby shall only be brought in any
federal court of the State of Delaware or the Court of Chancery of the State of
Delaware, and hereby irrevocably and unconditionally expressly submits to the
personal jurisdiction and venue of such courts for the purposes thereof and
hereby irrevocably and unconditionally waives (by way of motion, as a defense
or otherwise) any and all jurisdictional, venue and convenience objections or
defenses that such party may have in such action, suit or proceeding. Each
party

 6
 

 

hereby irrevocably and unconditionally consents to the
service of process of any of the aforementioned courts, in the manner provided
for notice in Section 10 or otherwise. Nothing herein contained shall be
deemed to affect the right of any party to serve process in any manner
permitted by Law or commence legal proceedings or otherwise proceed against any
other party in any other jurisdiction to enforce judgments obtained in any
action, suit or proceeding brought pursuant to this Section 13.

14.           No Waiver. The failure of any
party hereto to exercise any right, power or remedy provided under this Agreement
or otherwise available in respect hereof at law or in equity, or to insist upon
compliance by any other party hereto with its obligations hereunder, and any
custom or practice of the parties at variance with the terms hereof, shall not
constitute a waiver by such party of its right to exercise any such or other
right, power or remedy or to demand such compliance.

15.           Entire Agreement; No Third-Party
Beneficiaries. This Agreement (a) constitutes the entire agreement,
and supersedes all prior agreements and understandings, both written and oral,
among the parties with respect to the subject matter of this Agreement and (b) is
not intended to confer upon any Person other than the parties any rights or
remedies.

16.           Counterpart. This Agreement
may be executed by facsimile signature and in one or more counterparts, all of
which shall be considered one and the same agreement and shall become effective
when one or more counterparts have been signed by each of the parties and
delivered to the other parties.

17.           Effect of Headings. The
section headings herein are for convenience only and shall not affect the
construction or interpretation of this Agreement.

18.           Several Liability. The
representations, warranties, covenants and agreements of each Stockholder are made
and given severally only, and not jointly and severally, and no Stockholder
shall have any liability to Parent, Merger Sub, the Company or any other person
for any breach of this Agreement by any other Stockholder party hereto.

[Remainder of Page Intentionally
Left Blank]

 7
 

 

IN WITNESS WHEREOF, the parties have caused this
Agreement to be executed and delivered as of the date first above written.

	
  

  	
  MAGELLAN HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ C. James
  Schaper

  
	
   

  	
  By: C. James Schaper

  
	
   

  	
  Its: President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GLOBETROT MERGER SUB, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ C. James
  Schaper

  
	
   

  	
  By: C. James Schaper

  
	
   

  	
  Its: President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  STOCKHOLDERS:

  
	
   

  	
   

  
	
   

  	
  GENERAL ATLANTIC PARTNERS 76, L.P.

  
	
   

  	
  By:

  	
  GENERAL ATLANTIC LLC,

  
	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William
  E. Ford

  
	
   

  	
   

  	
  Name: William E. Ford

  
	
   

  	
   

  	
  Title: President and Managing Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GENERAL ATLANTIC PARTNERS 77, L.P.

  
	
   

  	
  By:

  	
  GENERAL ATLANTIC LLC,

  
	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William
  E. Ford

  
	
   

  	
   

  	
  Name: William E. Ford

  

 8
 

 

 

	
  

  	
  GENERAL ATLANTIC PARTNERS 80, L.P.

  
	
   

  	
  By: GENERAL ATLANTIC LLC,

  
	
   

  	
  its General Partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William
  E. Ford

  
	
   

  	
   

  	
  Name: William E. Ford

  
	
   

  	
   

  	
  Title: President and Managing Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GAPSTAR, LLC

  
	
   

  	
  By: GENERAL ATLANTIC LLC,

  
	
   

  	
  its Sole Member

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William
  E. Ford

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GAP COINVESTMENT PARTNERS II, L.P.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William
  E. Ford

  
	
   

  	
   

  	
  Name: William E. Ford

  
	
   

  	
   

  	
  Title: A General Partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GAP COINVESTMENTS III, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William
  E. Ford

  
	
   

  	
   

  	
  Name: William E. Ford

  
	
   

  	
   

  	
  Title: A Managing Member

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GAP COINVESTMENTS IV, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ William
  E. Ford

  
	
   

  	
   

  	
  Name: William E. Ford

  
	
   

  	
   

  	
  Title: A Managing Member

  
	
   

  	
   

  
	
   

  	
  GAPCO GMBH & CO. KG

  
	
   

  	
  By: GAPCO MANAGEMENT GMBH,

  
	
   

  	
  its General Partner

  

 9
 

 

 

	
  

  	
  By:

  	
  /s/ William E.
  Ford

  
	
   

  	
   

  	
  Name: William E. Ford

  
	
   

  	
   

  	
  Title: Managing Director

  

 

 10

 

EXHIBIT A

	
  Stockholder

  	
   

  	
   

  	
  Existing Shares

  	
   

  	
   

  	
  Address

  
	
  General Atlantic
  Partners 76, L.P.

  	
   

  	
   

  	
  13,401,341

  	
   

  	
   

  	
  c/o General Atlantic
  Service Company, LLC

  3 Pickwick Plaza

  Greenwich, CT 06830

  Attn: David A. Rosenstein

  Tel: (203) 629-8644

  Fax: (203) 618-9207

  
	
  General Atlantic
  Partners 77, L.P.

  	
   

  	
   

  	
  14,346

  	
   

  	
   

  	
  c/o General
  Atlantic Service Company, LLC

  3 Pickwick Plaza

  Greenwich, CT 06830

  Attn: David A. Rosenstein

  Tel: (203) 629-8644

  Fax: (203) 618-9207

  
	
  General Atlantic
  Partners 80, L.P.

  	
   

  	
   

  	
  1,283,987

  	
   

  	
   

  	
  c/o General
  Atlantic Service Company, LLC

  3 Pickwick Plaza

  Greenwich, CT 06830

  Attn: David A. Rosenstein

  Tel: (203) 629-8644

  Fax: (203) 618-9207

  
	
  GapStar, LLC

  	
   

  	
   

  	
  182,964

  	
   

  	
   

  	
  c/o General
  Atlantic Service Company, LLC

  3 Pickwick Plaza

  Greenwich, CT 06830

  Attn: David A. Rosenstein

  Tel: (203) 629-8644

  Fax: (203) 618-9207

  
	
  GAP Coinvestment
  Partners II, L.P.

  	
   

  	
   

  	
  784,363

  	
   

  	
   

  	
  c/o General
  Atlantic Service Company, LLC

  3 Pickwick Plaza

  Greenwich, CT 06830

  Attn: David A. Rosenstein

  Tel: (203) 629-8644

  Fax: (203) 618-9207

  
	
  GAP
  Coinvestments III, LLC

  	
   

  	
   

  	
  76,401

  	
   

  	
   

  	
  c/o General
  Atlantic Service Company, LLC

  3 Pickwick Plaza

  Greenwich, CT 06830

  Attn: David A. Rosenstein

  Tel: (203) 629-8644

  Fax: (203) 618-9207

  

 

 

	
  GAP Coinvestments IV, LLC

  	
   

  	
   

  	
  19,924

  	
   

  	
   

  	
  c/o General Atlantic
  Service Company, LLC

  3 Pickwick Plaza

  Greenwich, CT 06830

  Attn: David A. Rosenstein

  Tel: (203) 629-8644

  Fax: (203) 618-9207

  
	
  GAPCO GmbH &
  Co. KG

  	
   

  	
   

  	
  21,617

  	
   

  	
   

  	
  c/o General Atlantic
  GmbH

  Koenigsallee 62

  40212 Duesseldorf

  Germany

  Attn: David A. Rosenstein

  Tel: +49-211-602-88880

  Fax: +49 211 602 88857

  

 

 2Exhibit 10.1

 

FINAL VERSION

 

SHARE PURCHASE AGREEMENT

 

for the
sale and purchase of all shares in

 

Silembia

 

 

TABLE
OF CONTENTS

 

	
  Clause

  	
   

  	
  Headings

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  DEFINITIONS AND INTERPRETATION

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
   

  	
  SALE AND PURCHASE

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
   

  	
  CONSIDERATION

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
   

  	
  COMPLETION

  	
   

  	
  8

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
   

  	
  WARRANTIES

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
   

  	
  INDEMNIFICATION

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
   

  	
  SELLERS UNDERTAKINGS

  	
   

  	
  17

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  8.

  	
   

  	
  MISCELLANEOUS

  	
   

  	
  19

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
   

  	
  COSTS

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
   

  	
  NOTICES

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11.

  	
   

  	
  GOVERNING LAW AND JURISDICTION

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULE 1 THE COMPANY

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULE 2 COMPLETION SPREADSHEET

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULE 3 REPRESENTATIONS AND
  WARRANTIES

  	
   

  	
  35

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULE 4 SHORT FORM SALE
  AGREEMENT

  	
   

  	
  61

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULE 5 ACCOUNTS

  	
   

  	
  62

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULE 6 STATEMENT OF EXPENSES

  	
   

  	
  63

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULE 7 STATEMENT OF CASH DEFICIT

  	
   

  	
  64

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHEDULE 8 EMPLOYEES

  	
   

  	
  66

  
						

 

 

This SHARE PURCHASE AGREEMENT is entered into
effective as of the Completion Date

 

BY AND BETWEEN:

1) Mr. Bernard Badefort,

born on 26 April 1954 at Tulle (19),

French citizen,

whose address is 15, rue du Couradin 35510
Cesson-Sévigné,

 

2) Mr. Jean-Marc Guyot,

born on 14 July 1970 at Paris 14e,

French citizen,

whose address is 8, rue de La Madeleine
35410 Châteaugiron,

 

3) Mr. Pascal Blouin,

born on 16 January 1966 at Rennes
(35),

French citizen,

whose address is
Les Faroulais 35410 Domloup,

 

4) Mr. Eric Mauger,

born on 12 May 1967 at Surtainville
(50),

French citizen,

whose address is
27, rue Jean Moulin 35340 Liffré,

 

5) Mrs. Françoise Eveno,

born on 13 February 1962 at Gourin
(56),

French citizen,

whose address is 3,allée
de la Hulotte 35250 Saint Sulpice la Forêt,

 

6) Mr. Frédéric Nicolas,

born on 21 November 1965 at Orléans
(45),

French citizen,

whose address is 37, rue
du Martin Pêcheur 35690 Acigné ,

 

7) Mr. David Le Goff,

born on 5 April 1970 at Dinan (22),

French citizen,

whose address is Le petit Châtelain 35190
Tinteniac,

 

8) Mr. Emmanuel Gautier,

born on 19 October 1972 at Carhaix
(29),

French citizen,

whose address is 3, rue
Monte en Haut 35250 Chevaigné,

 

9) Mr. Gaëtan Guillaume,

born on 13 December 1973 at Redon
(35),

French citizen,

whose address is 2, rue des Fragons 35890
Laille,

 

10) Mr. Marc Dorval,

born on 13 May 1964 at Quimper (29),

 

 

French citizen,

whose address is Le Chêne Corbin 35250
Mouazé,

 

11) Mr. David Rault,

born on 9 February 1972 at Evreux
(27),

French citizen,

whose address is La petite Magdelaine 35630
Bazouges/Hédé,

 

12) Mr. Pascal Prime,

born on 1 February 1962 at Fougères
(35),

French citizen,

whose address is 36, rue Mélouin 35300
Fougères,

 

13) Mr. Olivier Souloumiac,

born on 28 August 1969 at Nantes (44),

French citizen,

whose address is 2, jardin des Ransonnières
35250 Saint Sulpice la Forêt,

 

14) Mr. Stéphane Faudeil,

born on 23 April 1966 at Brest (29),

French citizen,

whose address is 7, allée de la Guernache
35510 Cesson Sévigné,

 

15) NEC Electronics Corporation, a Japanese
corporation (hereinafter, “NEC”) with its
principal offices at 1753, Shimonumabe, Nakahara-ku, Kawasaki, Kanagawa 211-8668,
Japan, represented by Mr. Daniel Tanniere, General Manager, Communications &
Consumer Business Group, NEC Electronics Europe GmbH, duly empowered by proxy
from Mr. Shigeo Niitsu, Vice-President, 2nd Systems Operations
Unit,

 

The above individuals and entity are collectively
called the “Sellers”. The Sellers,
other than NEC, are collectively called the “Individual
Sellers”.

 

AND

 

Silicon Laboratories France S.A.R.L., a French
S.A.R.L. (Hereinafter called the “Purchaser”)
with share capital of 8 000,00 Euros and identification number 442 941 993
R.C.S. EVRY, represented by Kurt William Hoff, Co-gérant.

 

The
Sellers and the Purchaser are hereinafter collectively referred to as the “Parties” and individually as a “Party”.

 

WHEREAS:

 

(A)                             Silembia is a société par actions
simplifiée, the details of which are set forth in SCHEDULE 1
(the “Company”), engaged in the following
business:

 

Development of
digital video demodulation technology, compliant with the standards: DVB-H,
DVB-T, DVB-S, DVB-S2 and DVB-C, for the television, set-top box and mobile
video markets.

 

2

 

(B)                               The Company has an issued share capital of EUR 358,570, divided
into 35,857 shares of EUR 10 par value each, representing 100% of the
share capital and voting rights at Completion (the “Shares”), consisting of 18,000 Class “A”
Shares, 15,000 Class “B” Shares and 2,857 Class “C” Shares.

 

(C)                               The Sellers collectively own all of the Shares.

 

(D)                              The Purchaser wishes to purchase, and the Sellers wish to sell, the
Shares (as such term is defined hereafter) on the terms and subject to the
conditions of this Agreement. In particular, the Purchaser’s agreement was
reached in consideration of the acquisition of the totality of the Shares and
of the representations, warranties and covenants granted by the Sellers herein
and the opportunity to leverage industrial synergies between the Company and
the Purchaser.

 

(E)                                The Parties hereto wish to perform
their obligations and exercise their rights under this Agreement in a spirit of
cooperation and good faith.

 

NOW, THEREFORE THE PARTIES AGREE AS FOLLOWS:

 

1.                                      DEFINITIONS AND
INTERPRETATION

 

1.1                                Definitions

 

In this Agreement, the Schedules and the
Exhibits, the following terms shall have the following meanings:

 

“Accounting Principles” The (i) accounting
principles and methods generally accepted in France, and (ii) accounting rules implementing
said principles and methods as consistently applied by the Company for the
preparation of its financial statements.

 

“Accounts” The unaudited financial
statements of the Company as of and for the three months ended on the Accounts
Date, attached as SCHEDULE 5.

 

“Accounts Date” March 31, 2006.

 

“Affiliate” In relation to any person,
any other person that, directly or indirectly, controls or is controlled by or
is under the same control as such person and the term “control” shall have the
same meaning as in by Article L 233-3 of the French Code de Commerce.

 

“Agreement” This agreement together
with its Schedules and Exhibits.

 

“Business Information” All
information, know-how and records (whether or not confidential and in whatever
form held) including all formulas, designs, specifications, drawings, data,
manuals and instructions and all customer lists, sales information, business
plans and forecasts, and all technical or other expertise and all accounting
and tax records, correspondence, orders and inquiries.

 

“Claim” A claim made by any
Indemnified Person against the Sellers pursuant to Clause 6.

 

“Company” Silembia, as further
described in Paragraph A of the Recitals.

 

“Completion” Completion of the sale and purchase of the Shares in accordance
with Clause 4.

 

3

 

“Completion Date” The date referred to
in sub-clause 4.1.

 

“Confidential Business Information”
Business Information which is confidential or not generally known.

 

“Consents and Approvals” Any notice,
report or other filing required to be made, or any consent, registration,
approval, permit or authorisation required to be obtained from any Governmental
Entity, including Competition Approvals.

 

“Contracts” The contracts further
described in Exhibit 6.1.

 

“Disclosures” Any risk, fact or other
event disclosed by the Sellers in an Exhibit hereto.

 

“Encumbrance(s)” Any pledge, privilège (lien), or other security interest, charge, condition,
equitable interest, claim, usufruit, indivision or other community
property interest, as well as any “delegation”, “subrogation”, agreement, option, undertaking, guarantee,
prior approval, right of first offer, right of pre-emption or any other party right,
or other obligation, claim, restriction or limitation of any nature whatsoever,
and, if applicable, any mortgage, easement (“servitude”)
or similar encumbrance.

 

“Holdback Amount” US $2,800,000
retained from the Purchase Price by Purchaser.

 

“Governmental Entity” Any public
international, multinational or transnational organisation or any national,
state, municipal or local governmental, judicial, arbitral, legislative,
administrative or other person, authority, ministry, department, agency,
instrumentality, office, organisation or stock exchange having jurisdiction
over the Seller or the Purchaser or the Company or their respective properties
or assets.

 

“Indemnification Date” The date
further defined in sub-clause 6.4.3.

 

“Indemnifiable Cash
Deficit” The definition ascribed thereto in
sub-clause 3.1.4.

 

“Indemnifiable Company
Expenses” The definition ascribed thereto in
sub-clause 3.1.3.

 

“Indemnification Liability” The
liability incurred by the Sellers pursuant to the terms of Clause 6.

 

“Indemnified Person(s)” The person(s)
defined as such in sub-clause 6.1 or any of its successors.

 

“Information Technology” The computer
equipment and software used by or belonging to the Company as listed in Exhibit 13, and/or required to carry on its business
and fulfill its existing contracts and commitments.

 

“Intellectual Property” Inventions,
discoveries, developments, trade secrets, processes, formulas, data, databases,
lists, software programs, tools, marks, technical and marketing materials and
all other works of authorship (including mask works, ideas, concepts, know-how,
designs, algorithms, schematics, blueprints, diagnostics, techniques and the
like), whether or not any of the foregoing is or are patentable, copyrightable,
or registrable under any intellectual property laws or industrial property laws
in the United States, France or elsewhere.

 

“Intellectual Property Rights” All
rights, title and interest to any and all Intellectual Property, including
without limitation, patents and patent applications (including reissues, 

 

4

 

divisions,
continuations and continuations-in-part), trade marks, rights in designs,
models, trade or business names, copyrights and assimilated rights (including
rights with respect to computer software), Moral Rights, logos, database
rights, know-how, trade secrets, internet web sites and domain names (whether
or not any of these is registered) and all rights or forms of protection of a
similar nature or having equivalent or similar effect to any of these which may
subsist anywhere in the world, as well as all applications and registrations
pertaining to such rights.

 

“Company Intellectual Property” The
Intellectual Property owned or used by the Company.

 

“Company Intellectual Property Rights”
The Intellectual Property Rights to Company Intellectual Property.

 

“Law(s)” Any law, statute, regulation,
rule, ordinance, decree, principle of civil, administrative or common law,
governmental or administrative instruction and any treaty.

 

“Liabilities” Liabilities or obligations (due, payable,
certain, contingent, conditional or otherwise and including any obligation
resulting from an investment commitment, factoring or leasing agreement or from
current, pending or threatened litigation).

 

“Moral Rights” All rights
related to integrity, disclosure, paternity (e.g., identification), and
withdrawal and applications for the foregoing.

 

“Order” Any permit or licence or any
judgment, injunction, order, rulings, decree or other restriction of any Governmental
Entity, court or tribunal.

 

“Properties” The properties listed in Exhibit 10.

 

“Purchase Price” The consideration for
the sale of the Shares as defined in sub-clause 3.1.1.

 

“Shares” The shares referred to in
Paragraph B of the Recitals.

 

“Taxation or Tax(es)” All taxes,
levies, duties, assessments and governmental charges of any kind (in all cases
including any related penalties, surcharges and interest thereon), whether
payable directly or by withholding, including income tax, corporation tax, précompte, property tax, capital gains tax, value added tax,
customs duties, excise duties, business tax, transfer and contribution taxes,
stamp and registration duties, social security and other similar payroll
related assessments, (including in respect of health, unemployment, housing,
family allowances, pension, retirement and welfare contributions)
tax-assimilated levies (taxes parafiscales)
and any other taxes, levies, duties, charges or withholdings corresponding to,
similar to, replaced by or replacing any of them, provided, that “Taxes”
shall also mean (i) any liability of the Company determined on the basis
of any Tax or by reference to any taxable basis, and (ii) any Tax due by a
person other than the Company and for which the Company would be liable, in
particular as a result of any joint and several obligation with such person,
any obligation to hold harmless and indemnify such person, any obligation to
bear the Taxes of such person (including as a result of a tax consolidation or
any similar agreement).

 

“Warranties” The representations made
and the warranties granted by the Individual Sellers and set forth in SCHEDULE 3.

 

5

 

1.2                                Interpretation

 

In this Agreement, save where the context
otherwise requires:

 

1.2.1                                 words in the singular shall include the plural, and vice versa.

 

1.2.2                                 masculine gender shall be deemed to include the feminine and neuter
and vice versa.

 

1.2.3                                 a reference to a person shall include a reference to a firm, a body
corporate, an unincorporated organisation, government agency, an independent
authority or to a person’s executors, administrators, successors or assigns.

 

1.2.4                                 a reference to a sub-clause, Clause, Schedule or Exhibit shall
be a reference to a sub-clause, Clause, Schedule or Exhibit (as the
case may be) of or to this Agreement.

 

1.2.5                                 if a period of time is specified and dates from a given day or the
day of an act or event, it shall be calculated exclusive of that day.

 

1.2.6                                 references to writing shall include any modes of reproducing words
in a legible and non-transitory form.

 

1.2.7                                 a reference to a balance sheet or profit and loss statement shall
include a reference to any note forming part of it.

 

1.2.8                                 where any statement set out in SCHEDULE 3
(Warranties) is expressed to be given or made “to the Sellers’ knowledge” or “so
far as Sellers are aware” or is qualified in some other manner having
substantially the same effect, then (a) such statement shall be deemed to
include an additional statement that each Seller has made due and careful
enquiry (including the officers, accountants and/or auditors of the Company) as
to the facts and circumstances relevant to such statement and such other
enquiries reasonably necessary to make such statement and shall have taken the
results of such enquiries into account and (b) the knowledge of any Seller
shall be imputed to all Sellers.

 

1.2.9                                 the headings in this Agreement are for convenience only and shall
not affect the interpretation of any provision of this Agreement.

 

1.2.10                           “including” and other similar expressions are not and must not be treated as
words of limitation.

 

2.                                     SALE AND PURCHASE

 

The Sellers
hereby agree to sell and the Purchaser hereby agrees to purchase all, but not
part only, of the Shares at Completion, free from any Encumbrances but with all
rights attached to such Shares at the date hereof or subsequently becoming
attached to them.

 

6

 

3.                                     CONSIDERATION

 

3.1                                Purchase Price

 

3.1.1                                 The aggregate consideration (the “Purchase
Price”) for the sale of the entirety of the Shares shall be the sum
of US $20,000,000 in cash, representing US $20,000,000 less (i) any
Company Expenses shown on the Statement of Expenses and (ii) any Cash
Deficit shown on the Statement of Cash Deficit as such terms are defined
hereafter. The Purchase Price shall be allocated to the Sellers as set forth on
the Completion Schedule attached as SCHEDULE 2
(the “Completion Schedule”).

 

3.1.2                                 The portion of the Purchase Price payable to each Seller less the
applicable Holdback Amount shall be transmitted by Purchaser by immediate day
IBAN or SWIFT electronic transfer to each Seller, free of any costs or expenses
from the Purchaser’s bank, at the bank account set forth on the Completion Schedule (such
amount the “Net Amount due at Closing” as set
forth with respect to each Seller on the Completion Schedule). Each Seller
confirms that such account information is accurate and that Purchaser shall
have no liability for any inaccuracy or failure of such bank accounts to
receive the Purchase Price transmitted by Purchaser to such account. The
Holdback Amount shall be retained by Purchaser pursuant to clause 6.

 

3.1.3                                 “Company Expenses” shall mean all costs and expenses
(including attorney’s fees) incurred in connection with the Letter Agreement
dated March 17, 2005 between Purchaser, the Company and the Sellers (the “Letter Agreement”), this Agreement, any
related agreements and the transactions contemplated hereby and thereby
incurred by the Company, but shall exclude an aggregate of EUR 15,000. The estimated amount of Company Expenses shall be set forth on SCHEDULE 6 (the “Statement of Expenses”)
and shall be delivered by the Sellers’ Representative to Purchaser three days
prior to the Completion Date along with copies of the documents or instruments
evidencing the amounts set forth on the Statement of Expenses. In preparing
such Statement of Expenses, the Sellers’ Representative shall use its good
faith best efforts to include all Company Expenses then known or reasonably
estimable, and shall certify that, to the best of the Sellers’ Representative’s
knowledge, such Statement of Expenses includes all of the Company Expenses
paid, payable or to become payable at any time prior to, at or following the
Completion Date, it being the Parties express intent that to the maximum extent
possible all the Company Expenses be deducted from the Purchase Price and that
there be no Indemnifiable Company Expenses. Any Company Expenses which have not
been set forth in the Statement of Expenses and therefore not deducted from the
Purchase Price pursuant to Section 3.1.1 are collectively referred to as “Indemnifiable Company Expenses” and shall constitute “Losses”
for purposes of claims pursuant to clause 6.

 

3.1.4                                 The amount, if any, by which the Company’s debt and other
Liabilities (including all Liabilities that may arise as a result of the
Completion, including the repayment of any subsidies, other government grants
or operating leases) exceeds the Company’s unencumbered cash (i.e. the 

 

7

 

“actif circulant”
as defined in the Accounts) as of the Completion shall be referred to as the “Cash Deficit”. The amount of Cash Deficit shall be set
forth on SCHEDULE 7 (the “Statement of Cash Deficit”). The Statement of Cash Deficit
shall be delivered by the Sellers’ Representative to Purchaser three days prior
to the Completion Date along with copies of the documents or instruments
evidencing the amounts set forth on the Statement of Cash Deficit. In preparing
such Statement of Cash Deficit, the Sellers’ Representative shall use its good
faith best efforts to include all Liabilities and obligations then known or
reasonably estimable, and shall certify that, to the best of the Sellers’
Representative’s knowledge, such Statement of Cash Deficit is accurate, it
being the Parties express intent that to the maximum extent possible that any
Cash Deficit be deducted from the Purchase Price and that there be no
Indemnifiable Cash Deficit. Any Cash Deficit which has not been set forth in
the Statement of Cash Deficit and therefore not deducted from the Purchase
Price pursuant to Section 3.1.1 is referred to as “Indemnifiable
Cash Deficit” and shall constitute “Losses” for purposes of claims
pursuant to clause 6. In no event shall the Purchase Price be increased, even
if the Company’s unencumbered cash exceeds Company’s debt and other
Liabilities.

 

3.1.5                                 All payments hereunder, whether pursuant to clause 3 or clause 6 or
otherwise, shall be payable in US dollars.

 

3.1.6                                 The Sellers agree that the conversion rate of US dollars into Euros
shall be $1.20 US dollars per Euro for purposes of determining the allocation
of the Purchase Price pursuant to clause 3.1.1. For all other purposes, any
amounts denominated in Euros shall be converted into US dollars at the
conversion rate in effect at the close of the US market on the later of (a) the
Indemnification Date or (b) the third day prior to the payment of US
dollars pursuant to this Agreement.

 

4.                                     COMPLETION

 

4.1                                Completion Date

 

Completion
shall be deemed to occur at the offices of the Sellers’ counsel, Cap Code, société d’avocats, 19 A rue de Châtillon, 35000 Rennes
(France), on May 11, 2006 (the “Completion Date”).

 

4.2                                Pre-Completion and Completion Deliveries

 

4.2.1                                 At least three days prior to the Completion Date the Sellers’
Representative shall deliver to Purchaser (i) the Statement of Company
Expenses and (ii) the Statement of Cash Deficit along with copies of the
documents or instruments evidencing the amounts set forth on such Statements in
accordance with sub-clauses 3.1.3 and 3.1.4.

 

4.2.2                                 At Completion, the Sellers’ Representative shall deliver or cause to
be delivered to the Purchaser:

 

(A)                              duly executed share transfer forms (“ordres de mouvement”) in respect of the entirety of the
Shares in favour of the Purchaser;

 

8

 

(B)                                all statutory meeting attendance sheets or books and minute books
(updated up to and including the Completion Date) for the Company;

 

(C)                                share transfer register (“registre
des mouvements”) and shareholders’ accounts (“comptes individuels d’actionnaires”) for
the Company, in both cases updated so as to record the transfer of Shares
provided for hereunder;

 

(D)                               the resignation letter of the Statutory Auditors (“Commissaires aux Comptes”) of the Company (both principal and alternate auditors),
effective on the date of the shareholder meeting called to replace them,
contingent only upon the Completion occurring;

 

(E)                                    the resignation letter of the President
of the Company, effective on the date of the shareholder meeting called to
replace him, provided that his employment contract is executed by the new
Company’s representative on the Completion date;

 

(F)                                    employment agreements signed by the
individuals listed in SCHEDULE 8
in a form satisfactory to the Purchaser, to be executed by the new Company’s
representative on the Completion date;

 

(G)                                all other documents useful or necessary for completion of the sale
to the Purchaser of the Shares and completion of all other transactions
contemplated herein, and all documents evidencing the performance by the
Sellers of their undertakings hereunder, which the Purchaser may reasonably
request;

 

(H)                               the fully-executed short-form share purchase agreement in the form
set forth in SCHEDULE 4 (for
the sole purpose of registering the sale of the Shares with the Tax
authorities; in the event of any conflict between the terms of such short-form
share purchase agreement and this Agreement, the terms of this Agreement shall
control);

 

(I)                                       a certified copy of the shareholder
meeting minutes for the Company, at which:

 

(1)                                 the Purchaser has been approved as a shareholder of the Company in
accordance with the Company by-laws;

 

(2)                                 the transfer of all Shares to the Purchaser pursuant to this
Agreement shall have been approved;

 

(3)                                 the financial statements as of and for the period ending December 31,
2005 shall have been approved;

 

(4)                                 Tyson Tuttle shall be appointed as the President of the Company;

 

(5)                                 all existing mandates for the operation of the bank accounts of the
Company shall be revoked except that Françoise Eveno shall retain her current
authority to initiate transactions;

 

9

 

(6)                                 Ernst & Young Audit shall be appointed principal statutory
auditor of the Company and Auditex shall be appointed alternative auditor of
the Company; and

 

(7)                                 the reimbursement of the shareholders’ current accounts (which
amounts are reflected as Liabilities of the Company in determining the Statement
of Cash Deficit and consist solely of EUR 8,750 owed by the Company to Bernard
Badefort and EUR 8,750 owed by the Company to Jean-Marc Guyot) within 15 days
shall have been approved.

 

4.2.3                                 All matters at Completion are
considered as taking place simultaneously, and no delivery of any document will
be deemed complete until all transactions and deliveries of documents required
by this Agreement have taken place. In particular, the sale and purchase of the
Shares hereunder may not take place unless and until the employment agreements
have each and all been duly executed.

 

5.                                     WARRANTIES

 

5.1                                Sellers’ Warranties

 

Each Seller represents and warrants to the
Purchaser that, as of the Completion Date, each of the Warranties is true and
accurate in all respects and is not misleading.

 

5.2                                Purchaser’s Warranties

 

The Purchaser represents and warrants to
each of the Sellers that, as of the Completion Date, the Purchaser is a company
duly organised and validly existing and in good standing under the laws of its
jurisdiction of organisation and that the Purchaser has all requisite corporate
power and authority to enter into and perform this Agreement, including the due
authorization of its sole shareholder.

 

6.                                     INDEMNIFICATION

 

6.1                                Indemnity

 

The Purchaser
and the Sellers acknowledge that only the Individual Sellers shall be liable
for the indemnification under clause 6 of this Agreement.

 

The
representations, warranties and covenants of the Sellers set forth in this
Agreement shall survive the Completion and remain in full force and effect. “Losses” of any person or entity means any and all demands,
claims, suits, actions, causes of action, proceedings, assessments, losses,
damages, Liabilities, earnings shortfall, interest, penalties, taxes, costs and
expenses incurred, or reasonably expected to be incurred, by such person or
entity, including interest, penalties and attorneys’ fees, third party expert
and consultant fees and expenses, fines, judgments, awards and financial
responsibility for investigation, removal and cleanup costs, natural resource
damages, government oversight costs and costs for redesign and rework of
technology, and reasonable fees and expenses incurred in connection with the
enforcement of the rights of any Indemnified Person pursuant to this Agreement.
The term Losses as used herein is not limited to matters asserted by third
parties, but includes Losses incurred or sustained in the absence of claims by
a third party. Each Individual Seller undertakes to indemnify the Purchaser and
the Company 

 

10

 

(collectively,
the “Indemnified Person(s)”) from
and against any and all Losses asserted against, imposed upon, or incurred by
such Indemnified Person which arise out of or in connection with:

 

6.1.1                                 any Warranty being untrue, inaccurate or incomplete;

 

6.1.2                                 any increase in the Liabilities (including undisclosed Liabilities) of the
Company as at the Completion Date, which increase does not fully appear in the
Accounts, any loss or damage suffered by the Purchaser or the Company based on
or arising out of an event or circumstance occurring or existing prior to the
Completion Date, whether known or unknown by the Sellers and/or the Company and
which has not been specifically addressed, reserved against or allowed for, or
has been insufficiently addressed, reserved against or allowed for, in the
Accounts.

 

6.1.3                                 any Indemnifiable Cash Deficit based on or arising out of an event or
circumstance occurring or existing on or prior to the Completion Date, whether known
or unknown by the Sellers and/or the Company;

 

6.1.4                                 any Indemnifiable Company Expenses based on or arising out of an event or
circumstance occurring or existing on or prior to the Completion Date, whether
known or unknown by the Sellers and/or the Company; and

 

6.1.5                                 any fraud, intentional misrepresentation, wilful misconduct or
wilful concealment by the Company or the Sellers occurring or existing on or prior to the
Completion Date.

 

Any potential Indemnification Liability
shall be calculated without giving effect to qualifications as to “materiality”
contained in the Warranties. For clarity, the amount of Losses shall not be
adjusted to reflect any tax deduction or similar tax benefit received by an
Indemnified Person as a result of such Loss. Each Individual Seller shall bear
his or her portion of any Indemnification Liability pro rata in proportion to
such Individual Seller’s number of shares set forth in the column titled “Individual
Sellers number of shares” on the SCHEDULE 2 (Completion Schedule) relative
to the Total set forth at the bottom of such column.

 

6.2                                Time Limits

 

Any “Claim”
shall be made by notice in writing to the Sellers’ Representative, at the
latest (i) before the ending of the month following the ending of the
applicable legal term of limitation (“prescription légale”)
for any and all Losses that arise out of or in connection with any Warranty set
forth in Articles 1 (Corporate Organisation and Business), 2 (Shareholdings),
18 (Taxation), 19 (Employment) or 25 (The Individual Sellers) of SCHEDULE 3 being untrue, inaccurate or incomplete or
for any Losses arising out of or in connection with any fraud, intentional
misrepresentation, wilful misconduct or wilful concealment by the Company or
the Sellers occurring or existing on or prior to the Completion Date, and (ii) before the third anniversary of the Completion Date
for any other Losses. For the avoidance of doubt, provided that notice of any
Claim is given within the applicable time limit, the rights of the Indemnified
Person under this Clause 6 with respect to such Claim shall survive until such
time as such Claim is finally resolved.

 

11

 

6.3                                Limitation on Indemnification

 

6.3.1                                 Basket and Deductible

 

The Indemnified
Persons shall not be entitled to indemnification pursuant to clause 6 unless
the aggregate amount of Losses exceeds $400,000 (which amount is referred to as
the “Losses Threshold”), at which point the
Individual Sellers shall be obligated to indemnify the Indemnified Persons
under this clause 6 for all Losses (including Losses constituting the Losses
Threshold other than the first $200,000 of such Losses Threshold (the “Deductible”)).

 

6.3.2                                 Cap

 

For the purposes
of this Agreement:

 

“Period 1” shall mean the period extending from the
Completion Date through the first anniversary of the Completion Date, and

 

“Period 2” shall mean the period extending from the
expiration of Period 1 through the second anniversary of the Completion Date,
and

 

“Period 3” shall mean the period extending from the
expiration of Period 2 and continuing until no further Claim can be made as a
result of the expiration of all time periods set forth in clause 6.2.

 

The Individual
Sellers’ aggregate Indemnification Liability with respect to Claims made by an
Indemnified Person during Period 1 shall be limited to 40% of the Purchase
Price.

 

The Individual
Sellers’ aggregate Indemnification Liability with respect to Claims made by an
Indemnified Person during Period 2 shall be limited to 30% of the Purchase
Price minus the amount of Losses previously indemnified hereunder with respect
to Period 1.

 

The Individual Sellers’
aggregate Indemnification Liability with respect to Claims made by an
Indemnified Person during Period 3 shall be limited to 20% of the Purchase
Price minus the amount of Losses previously indemnified hereunder with respect
to Period 1 and Period 2.

 

6.3.3                                 No Cap on Fraud

 

Notwithstanding anything to the contrary
herein, there shall be no limitation on Indemnification Liability for Losses which
arise out of or in connection with any fraud, intentional misrepresentation,
wilful misconduct or wilful concealment by the Company or the Sellers.

 

6.4                                Indemnification Procedure and Payment

 

6.4.1                                 Implementation of the Indemnification
Procedure

 

(A)                              Subject to the terms of sub-clauses 6.2 and 6.4.4, an Indemnified
Person shall be entitled to make a Claim against the Individual Sellers by
delivery of notice to the Sellers’ Representative at any 

 

12

 

time after the Indemnified Person becomes
aware of any fact that could give rise to Indemnification Liability.

 

(B)                                If the Sellers’ Representative disputes the basis or the amount of
the Claims made by the Indemnified Person, the Sellers’ Representative shall
notify such Indemnified Person within 30 days following receipt of the Claim
notice. Failure to make such a dispute notification within this time limit
shall result in the dispute being disallowed and the Individual Sellers
being deemed to have agreed to the basis and amount of the relevant Claims on
the date of expiry of such time limit.

 

6.4.2                                 Disputed Claims

 

In the event
that a Claim is disputed by the Individual Sellers
within the time limit set forth in Section 6.4.1(B):

 

(A)                              the Indemnified Person and the Sellers’ Representative shall
endeavour to reach agreement in respect of the disputed points relating to a
Claim within 30 days after the date on which the Sellers’ Representative made a
dispute notification; or

 

(B)                                in the absence of such agreement within such 30 days, either Party
may refer the matter for resolution pursuant to Clause 11.

 

6.4.3                                 Payment Obligation

 

(A)                              Indemnification Payment – Any amount
payable by any Individual Seller to any Indemnified Person under this Clause 6 shall be
payable within 30 days from the date of quantification of the Indemnification
Liability by mutual agreement or pursuant to an arbitration decision (such due
date, the “Indemnification Date”) provided,
the occurrence of the Indemnification Date shall be considered in itself as
formal notice (mise en demeure)
to pay the relevant Indemnification Liability and such amount shall bear
interest at an annually compounded rate per annum equal to lower of (a) EURIBOR
3 month plus 3% from the Indemnification Date or (b) the maximum rate
permitted by applicable law.

 

(B)                                Specific cases – As a
limited exception to the general principle set out in paragraph (A) above,
the Indemnification Date shall:

 

(1)                                 if the Claim made by the Indemnified Person is based on a claim by a
third party (other than the Tax authorities) against the Purchaser, the Company
or the successor to the whole or any part of the Company’s business, be the
date on which the amount due by the Purchaser, the Company or the successor
becomes payable, it being agreed that in the event of litigation with respect
to the relevant third party claim, this date shall be the date on which an
enforceable judgement was issued; or

 

(2)                                 if the Claim made by the Indemnified Person is based on a claim made
by the Tax authorities against the Purchaser, the Company 

 

13

 

or the successor to the whole or any part
of the Company’s business, be the date on which the amount claimed is subject
to a notice from the Tax authorities demanding payment, it being agreed that in
the event that the Individual Sellers wish to contest the said
notice demanding payment, the Individual Sellers shall be bound to advance the
amount of security claimed by the Tax authorities for the purposes of this claim.

 

(C)                                Payment Process – With
respect to each Claim, the Indemnified Person shall receive payment out of the
Holdback Amount equal to the amount of such Claim. The Indemnified Person shall
have the obligation to receive payment out of the Holdback Amount before
requiring any payment directly from the Individual Sellers.

 

6.4.4                                 Conduct of Proceedings

 

If any
Indemnified Person becomes aware of any third party claim against the
Purchaser, the Company or the successor to the whole or any part of the Company’s
business (including any notification of a Tax audit) after Completion and if
this claim is, in the opinion of such Indemnified Person, likely to give the
Indemnified Persons the right to make a Claim against the Individual
Sellers:

 

(A)                              the Indemnified Person shall promptly give notice to the Sellers’
Representative of this third party claim, provided that any delay in
making such a claim shall reduce the Indemnification Liability only by the
extent of the damage effectively suffered by the Individual Sellers as
a result of such delay;

 

(B)                                the Sellers’ Representative may within a period of 30 days from the
date of receipt of the notice mentioned in paragraph (a) above or sooner,
in the event of urgent proceedings or Tax proceedings, provide the Purchaser with
the name of the representative responsible for attending, on behalf of the
Sellers’ Representative and at the Sellers’ Representative’s cost, the
proceedings relating to such third party claim, provided that the Sellers’
Representative undertakes to indemnify the Indemnified Person against any
losses, costs, damages and expenses resulting therefrom. The Indemnified Person
shall consult with any such representative to the extent commercially
reasonable and to the extent such consultation would not jeopardize the
Indemnified Persons rights with respect to maintenance of the attorney/client
privilege or otherwise. Any failure to consult shall reduce the Indemnification
Liability only by the extent of the damage effectively suffered by the Individual
Sellers as a result of such failure;

 

(C)                                notwithstanding the appointment of a representative by the Sellers
or any other provision of this Agreement, the Indemnified Person shall be
entitled to assume the defence of such third party claim and shall be free to
take any action that it deems to be in the interest of the Indemnified Person
(including instigating, continuing or ceasing any arbitration or court
proceedings, or reaching a settlement).

 

14

 

6.5                                Sellers Acknowledgements

 

6.5.1                                 The Individual Sellers acknowledge and agree that the rights of the
Indemnified Person to indemnification pursuant to Clause 6 is an essential part
of the economic terms of this Agreement.

 

6.5.2                                 The Individual Sellers shall not be released from their obligations under this
Clause 6 as a result of (i) such Individual Seller’s lack of
awareness of the situation resulting in a Claim or (ii) any knowledge that
the Purchaser has or may have of said situation, including as a result of any
investigations made by the Purchaser, its representatives or its counsel, prior
to the Completion Date.

 

6.5.3                                 The Individual Sellers shall be exempted from Indemnification Liability only as
regards events or facts set forth in the Disclosures to the extent:

 

(A)                              any such Disclosure shall clearly describe the identified matter and
include all appropriate information and/or documents so as to reasonably
ascertain the nature of such matter and quantify the relevant risk;

 

(B)                                any Disclosure set forth in an Exhibit shall qualify only the
Warranty to which such Exhibit corresponds (and the Purchaser shall not be
considered as having knowledge or notice of any matter pertaining to the
Company which is not set forth in the relevant Exhibit);

 

(C)                                any such Disclosure shall qualify the Warranties only to the extent
of the amount specified for such Disclosure in the relevant Exhibit; and

 

(D)                               the Individual Sellers shall be unable to make any further Disclosures subsequent
to the date hereof.

 

6.5.4                                 The approval of the annual accounts for any fiscal year by the
shareholders’ meeting of the Company shall have no effect on any potential
Indemnification Liability.

 

6.6                                Holdback Distribution

 

The “Holdback Distribution Date”
shall mean the third anniversary of the Completion Date. On the Holdback
Distribution Date, Purchaser will distribute any portion of the Holdback Amount
that (a) has not previously been paid to an Indemnified Person and (b) is
not subject to a pending Claim (in such case, only the estimated potential Loss
shall be retained). Any amount not distributed on the Holdback Distribution
Date shall be distributed to the Indemnified Persons or Individual
Sellers, as applicable, within 30 days following the last to occur of the final
resolution and payment of any Indemnification Liability pursuant to clause 6,
if any.

 

All such distributions of Holdback Amounts
will be made pro rata in proportion to the relative Holdback Amount originally
held back with respect to each Individual Seller pursuant to column titled “Original
Holdback Amount” within the SCHEDULE 2. Such distribution shall be made to
the accounts set forth on the Completion Spreadsheet (as the account
information may have been altered at the written request of each applicable 

 

15

 

Individual Seller to Purchaser) and Purchaser shall be entitled to rely on
such Completion Spreadsheet as accurate for all purposes and shall have no
liability for any failure of the Individual Seller to
receive any amount properly transmitted by Purchaser in accordance with such
Completion Spreadsheet.

 

6.7                                Sellers’ Representative.

 

6.7.1                                 Each Individual Seller, by the execution and delivery of this Agreement, hereby
consents and agrees to the appointment of Mr. Bernard Badefort as the “Sellers’ Representative” for purposes of all matters
expressly set forth in this Agreement to be performed by the Sellers’
Representative. The Sellers’ Representative shall be deemed to continue in
office notwithstanding any purported resignation or removal until Purchaser
receives written notice signed by the Individual Sellers that held a majority of the
Shares immediately prior to the Completion designating a new Sellers’
Representative that is reasonably acceptable to Purchaser. Each Individual
Seller hereby constitutes and appoints the Sellers’ Representative, including
any replacement of any such Sellers’ Representative, as attorney-in-fact for
such Individual Seller with full power of substitution and authority, in his
discretion, to enforce this Agreement against the parties hereto, and to
execute any amendment or waiver of this Agreement and any other document or
instrument necessary or advisable in order to carry out the provisions of this
Agreement, to give and receive notices and communications and, without limiting
the foregoing provisions of this Section 6.7.1, dispute any decision of
Purchaser to pay itself or any Indemnified Person hereunder, to agree to,
negotiate, enter into settlements and compromises of, and to comply with orders
of courts with respect to any dispute or loss, and to take all actions
necessary or appropriate in the reasonable judgment of the Sellers’
Representative for the accomplishment of the foregoing. The Sellers’
Representative shall be entitled to consent to any payment from the Holdback
Amount to the Indemnified Persons. The Individual Sellers
shall be responsible for the payment of all fees and expenses reasonably
incurred by the Sellers’ Representative in performing his duties under this
Agreement. The Sellers’ Representative shall not use or disclose any non-public
information.

 

6.7.2                                 All decisions of the Sellers’ Representative may be relied upon by
Purchaser and any third person, and shall be binding and conclusive upon each Individual
Seller, including any waiver pursuant to clause 8 hereof.

 

6.7.3                                 The Sellers’ Representative shall not be liable, responsible or
accountable in damages or otherwise to the Individual Sellers
for any loss or damage incurred by reason of any act or failure to act by such
Sellers’ Representative, and each Individual Seller shall indemnify and hold
harmless the Sellers’ Representative against any loss or damage except to the
extent that such loss or damage shall have been the result of the individual
gross negligence or wilful misconduct of such Sellers’ Representative.

 

6.7.4                                 The Sellers’ Representative hereby agrees that all information now
or hereafter received from Purchaser will be used solely for the purpose of 

 

16

 

performing the functions of the Sellers’
Representative hereunder, and that such information, except as required by law,
will be kept confidential by the Sellers’ Representative and the Sellers’
Representative’s legal counsel and accountants who need to know such information
for the purpose of assisting in the performance of the Sellers’ Representative’s
functions hereunder.

 

7.                                     SELLERS UNDERTAKINGS

 

7.1                                Restrictive Covenant

 

Each Individual
Seller undertakes that such Individual Seller shall not, either alone or in
conjunction with or on behalf of any other person or entity, for a period of
two full and consecutive years after the Completion Date, in the United States,
Canada or in any of the Member States of the European Union, do any of the
following:

 

7.1.1                                 be directly or indirectly engaged or otherwise interested in any
form or manner whatsoever in carrying on a business which competes with the
business activities of the Company;

 

7.1.2                                 solicit any client to whom the Company has sold (or proposed to
sell) competing goods or services in the course of its business activities in
order to propose similar goods or services;

 

7.1.3                                 directly or indirectly solicit or entice an employee away from the
employment of the Company; nor

 

7.1.4                                 assist any other person or entity to do any of the foregoing things.

 

7.2                                Termination of Shareholders Agreement

 

Effective
immediately prior to and contingent upon the Completion, each Seller hereby
terminates the Shareholders Agreement.

 

7.3                                Waiver

 

Each Seller
hereby waives any restrictions on transfer (including pre-emption rights) which
may exist in relation to the Shares, whether under the Company’s by-laws or
otherwise.

 

7.4                                Intellectual Property

 

To the extent
to which an Individual Seller may have retained or still possesses any
ownership or any other rights therein, each Individual Seller individually
hereby irrevocably assigns and agrees to assign to the Company all Company
Intellectual Property and Company Intellectual Property Rights. To the extent
Moral Rights may not be assignable under applicable law and to the extent the
following is allowed by the laws in the various countries where such Moral
Rights exist, each Individual Seller hereby irrevocably waives such Moral
Rights and consents to any action of the Company or the Purchaser or their
Affiliates that would violate such Moral Rights in the absence of such consent.

 

17

 

7.5                                Liquidation Preference

 

In exchange
for NEC not being obligated with respect to the indemnification obligations under
clause 6 of this Agreement, NEC irrevocably waives all of its rights to the
liquidation preference amount (or Boni de Liquidation) stated
in the Company’s articles of association and in the Company’s Shareholders
Agreement or otherwise. As a result, NEC shall only be entitled to receive the “Net
Amount Due at Closing” as set forth on the Completion Schedule with
respect to NEC (SCHEDULE 2).

 

NEC represents
and warrants to the Purchaser that: (a) NEC is a company duly organised,
validly existing and in good standing under the laws of its jurisdiction of
organisation; (b) NEC is the owner of the Shares set forth opposite NEC’s
name on SCHEDULE 1, free and clear of any Encumbrances; (c) NEC
has all requisite power and authority to enter into and perform this Agreement,
including the approval of the competent corporate bodies of NEC; and (d) the
provisions of this Agreement constitute valid and binding obligations of NEC
enforceable against NEC in accordance with its terms.

 

7.6                                Release

 

EFFECTIVE AS
OF THE COMPLETION, EACH SELLER DOES FOR SUCH SELLER AND SUCH SELLER’S
RESPECTIVE AFFILIATES, PARTNERS, HEIRS, BENEFICIARIES, SUCCESSORS AND ASSIGNS,
IF ANY, HEREBY RELEASE AND ABSOLUTELY FOREVER DISCHARGE PURCHASER AND THE
COMPANY AND EACH OF THEIR RESPECTIVE OFFICERS, DIRECTORS, SHAREHOLDERS,
AFFILIATES, EMPLOYEES AND AGENTS (EACH, A “RELEASED PARTY”) FROM AND AGAINST
ALL RELEASED MATTERS. “RELEASED MATTERS” MEANS ANY AND ALL CLAIMS, DEMANDS,
DAMAGES, DEBTS, LIABILITIES, OBLIGATIONS, COSTS, EXPENSES (INCLUDING ATTORNEYS’
AND ACCOUNTANTS’ FEES AND EXPENSES), ACTIONS AND CAUSES OF ACTION OF ANY NATURE
WHATSOEVER, WHETHER BASED ON COMMON LAW OR ON ANY GOVERNMENTAL STATUTE, RULE,
REGULATION, OR OTHER LAW OR RIGHT OF ACTION, FORESEEN OR UNFORESEEN, MATURED OR
UNMATURED, KNOWN OR UNKNOWN, ACCRUED OR NOT ACCRUED, SUSPECTED OR UNSUSPECTED,
FIXED OR CONTINGENT, RAISED OR NOT RAISED (REGARDLESS OF WHETHER SUCH CLAIM
COULD BE RAISED), AND WHETHER OR NOT CONCEALED OR HIDDEN, THAT SUCH SELLER NOW
HAS, OR AT ANY TIME PREVIOUSLY HAD, OR SHALL OR MAY HAVE IN THE FUTURE, AS
A SHAREHOLDER, OFFICER, DIRECTOR, CONTRACTOR, CONSULTANT OR EMPLOYEE OF THE
TARGET, ARISING BY VIRTUE OF OR IN ANY MATTER RELATED TO ANY ACTIONS OR
INACTIONS WITH RESPECT TO THE COMPANY OR PURCHASER OR SUCH SELLERS AFFAIRS WITH
RESPECT TO THE COMPANY OR PURCHASER AT OR BEFORE THE EFFECTIVE TIME; PROVIDED
THAT RELEASED MATTERS SHALL NOT INCLUDE ANY RIGHT ARISING SOLELY OUT OF THIS
AGREEMENT. IT IS THE INTENTION OF THE SELLERS IN EXECUTING THIS RELEASE, AND IN
GIVING AND RECEIVING THE CONSIDERATION CALLED FOR HEREIN, THAT THIS RELEASE
SHALL BE EFFECTIVE AS A FULL AND FINAL ACCORD AND SATISFACTION AND GENERAL
RELEASE OF AND FROM ALL RELEASED MATTERS AND THE FINAL RESOLUTION BY SUCH
SELLER AND THE RELEASED PARTIES OF ALL RELEASED MATTERS. EACH SELLER HEREBY
REPRESENTS TO THE COMPANY AND PURCHASER THAT SUCH SELLER HAS NOT VOLUNTARILY OR
INVOLUNTARILY ASSIGNED OR TRANSFERRED OR PURPORTED TO 

 

18

 

ASSIGN OR
TRANSFER TO ANY PERSON ANY RELEASED MATTERS AND THAT NO PERSON OTHER THAN SUCH
SELLER HAS ANY INTEREST IN ANY RELEASED MATTER BY LAW OR CONTRACT BY VIRTUE OF
ANY ACTION OR INACTION BY SUCH SELLER. THE INVALIDITY OR UNENFORCEABILITY OF
ANY PART OF THIS PROVISION SHALL NOT AFFECT THE VALIDITY OR ENFORCEABILITY
OF THE REMAINDER OF THIS PROVISION, WHICH SHALL REMAIN IN FULL FORCE AND
EFFECT.

 

7.7                                Further Efforts

 

Each Seller
shall from time to time at the reasonable request of the Purchaser, do or
procure the doing of all such acts and/or execute all documents necessary for
giving full effect to this Agreement and securing to the Purchaser the full
benefit of the rights, powers and remedies conferred upon the Purchaser in this
Agreement.

 

8.                                     MISCELLANEOUS

 

8.1                                Successors - Assignment

 

8.1.1                                 All or any part of the benefit of this Agreement (including the
benefit of Clause 6) may be assigned by the Purchaser to any of its
Affiliates or to any person to whom all of part of the Shares may be
transferred after Completion, such assignment being notified to the Sellers’
Representative as provided for in Clause 10.

 

8.1.2                                 The Sellers may not assign, in whole or in part, their rights or
obligations under this Agreement.

 

8.2                                Whole Agreement

 

This Agreement
(including its Schedules and Exhibits) represents the entire understanding, and
constitutes the whole agreement, in relation to its subject matter and
supersedes any previous express or implied agreement in any form whatsoever
(including letters, memoranda, protocols and contracts) between the Parties
with respect thereto, including the Letter Agreement (except that the Sellers
remain subject to their confidentiality obligations set forth in Section 2.1
thereof). Each Seller shall also remain subject to the confidentiality
obligations of such Seller to the Company. The Sellers hereby assign to the Purchaser the benefits of all
confidentiality undertakings given to the Sellers in connection with the
process leading up to the sale of the Company, to the extent that such benefits
relate to the Company. The Sellers undertake to take all reasonable steps to
assist the Purchaser in enforcing such undertakings.

 

8.3                                Amendment and Termination

 

This Agreement
may be amended or terminated only with the written consent of the Purchaser and
Sellers.

 

8.4                                Separability

 

If at any time
any provision of this Agreement is or becomes illegal, invalid or unenforceable
in any respect under the law of any jurisdiction, that shall not affect or
impair:

 

19

 

8.4.1                                 the legality, validity or enforceability in that jurisdiction of any
other provision of this Agreement; or

 

8.4.2                                 the legality, validity or enforceability under the law of any other
jurisdiction of that or any other provision of this Agreement.

 

8.5                                Full Force and Effect

 

So far as it
remains to be performed, this Agreement shall continue in full force and effect
notwithstanding Completion.

 

8.6                                Waivers

 

The failure by
any Party promptly to avail itself in whole or in part of any right, power or
privilege to which such Party is entitled pursuant to the terms of this
Agreement shall not constitute a waiver of such right, power or privilege which
may be exercised at any time. To be valid, waiver by any Party of any such
right, power or privilege must be in writing and notified to the other Party as
provided herein.

 

9.                                     COSTS

 

9.1                                Registration Formalities and Stamp Duty

 

The Purchaser
shall be responsible for the registration formalities and the payment of the
relevant stamp duty (“droits d’enregistrement”)
pertaining to the transfer of the Shares.

 

9.2                                General Costs

 

Subject to the
terms of sub-clause 9.1 and save as otherwise stated in this Agreement, each
Party shall bear all costs and expenses incurred by it in connection with the
preparation and negotiation, execution and carrying into effect of this
Agreement and all other documents referred to in it. The Sellers confirm that
no expense of whatever nature relating to the Completion has been or is to be
borne by the Company for any aggregate amount over the EUR 15,000 excluded from
the definition of Company Expenses.

 

10.                              NOTICES

 

10.1                          All notices and
other communications hereunder shall be in writing and shall be deemed sent,
given and delivered: (i) immediately if given by personal delivery, (ii) one
day after deposit with an overnight delivery service, (iii) one day after
being sent via facsimile (with electronic confirmation of receipt) and (iv) three
days after deposit in the mail via registered or certified mail (return receipt
requested) to the parties at the following address (or at such other address
for a party as shall be specified by like notice):

 

(a) if to Purchaser, to:

 

20

 

Silicon Laboratories France, SARL

Attention: Chief Legal Counsel

1, Rue de Terre Neuve

Les Ulis

91967 Courtaboeuf Cedex

France

Facsimile No: 65-6511-7710

 

with a copy (which shall not constitute notice) to:

 

DLA Piper Rudnick Gray Cary US LLP

1221 South Mopac, Suite 400

Austin, Texas 78746

USA

Attention:  Philip Russell

Facsimile No.: (1)(512) 457-7001

 

if to the Sellers’ Representative, to the address set forth on the
Completion Schedule with a copy (which shall not constitute notice) to:

 

Eric Lefeubvre

Cap Code

Société d’Avocats

19 A, rue de Châtillon 35000 Rennes (France)

Fax : (33) 2 99 53 04 00

 

if to a Seller, to the address set forth for such Seller set forth on the
Completion Schedule.

 

11.                              GOVERNING LAW AND JURISDICTION

 

11.1                          Governing Law

 

This Agreement
shall be governed by, and construed in accordance with, French law.

 

11.2                          Language

 

The English language version of the Agreement shall control over any
other language versions and shall be used exclusively when interpreting or
enforcing the Agreement.

 

11.3                          Jurisdiction

 

All disputes
arising out of or in connection with this Agreement, including disputes
concerning the validity of this Agreement, shall be of the sole jurisdiction of
the Tribunal de Commerce of Paris (France).

 

21

 

IN
WITNESS of which the parties have executed
this Agreement on the date first mentioned above.

 

Executed
to be effective in Rennes, France in eighteen original copies

 

 

	
  /s/ Bernard
  Badefort

  	
   

  	
   

  
	
  Bernard Badefort

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Jean-Marc
  Guyot

  	
   

  	
   

  
	
  Jean-Marc Guyot

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Pascal
  Blouin

  	
   

  	
   

  
	
  Pascal Blouin

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Eric
  Mauger

  	
   

  	
   

  	
   

  
	
  Eric Mauger

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Françoise
  Eveno

  	
   

  	
   

  
	
  Françoise Eveno

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Frédéric
  Nicolas

  	
   

  	
   

  
	
  Frédéric Nicolas

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ David Le
  Goff

  	
   

  	
   

  
	
  David Le Goff

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Emmanuel
  Gautier

  	
   

  	
   

  
	
  Emmanuel Gautier

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Gaëtan Guillaume

  	
   

  	
   

  
	
  Gaëtan
  Guillaume

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Marc Dorval

  	
   

  	
   

  
	
  Marc
  Dorval

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ David Rault

  	
   

  	
   

  	
   

  
	
  David
  Rault

  	
   

  
												

 

22

 

	
  /s/ Pascal Prime

  	
   

  	
   

  	
   

  
	
  Pascal
  Prime

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Olivier Souloumiac

  	
   

  	
   

  
	
  Olivier
  Souloumiac

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Stéphane Faudeil

  	
   

  	
   

  
	
  Stéphane
  Faudeil

  	
   

  
						

 

NEC Electronics Corporation

 

	
  By :

  	
  /s/

  	
   Daniel Tanniere

  	
   

  
	
  Name :

  	
  Mr. Daniel
  Tanniere

  
	
  Title:

  	
  Communications &
  Consumer Business Group, NEC Electronics Europe GmbH

  

 

 

PURCHASER

 

Silicon
Laboratories France S.A.R.L.

 

	
  By :

  	
  /s/ Kurt William Hoff

  	
   

  
	
  Name : M. Kurt William Hoff

  	
   

  
	
  Title : “Co-gérant”

  	
   

  
				

 

23

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