Document:

Share Purchase Agreement dated June 7, 2011

 Exhibit 10.64 
 UNOFFICIAL TRANSLATION 
 Share Purchase Agreement 

between 

Deutsche Börse AG 
 Frankfurt 
 (“DBAG” or “Purchaser”) 

and 
 SIX
Group AG 
 Zurich 
 (“SIX” or “Seller”) 
 and 

SIX Swiss Exchange AG 
 Zurich 
 (“SIX Swiss”) 

  
  

1 

 Table of contents 
  

							
	 1
	    	Corporate Status and Transfer	  	 	5	  
			
	 2
	    	Sale of the Seller Shares, Effective Date, Dividend Rights	  	 	6	  
			
	 3
	    	Purchase Price; Terms of Payment	  	 	7	  
			
	 4
	    	Completion	  	 	8	  
			
	 5
	    	Representations and Warranties of the Seller	  	 	13	  
			
	 6
	    	Representations and Warranties of the Purchaser	  	 	15	  
			
	 7
	    	Further Obligations of the Parties	  	 	15	  
			
	 8
	    	Confidentiality and Press Releases	  	 	19	  
			
	 9
	    	Assignment of Rights and Obligations	  	 	20	  
			
	 10
	    	Costs	  	 	20	  
			
	 11
	    	Notices	  	 	21	  
			
	 12
	    	Miscellaneous; Final Provisions	  	 	23	  

  
  

2 

 List of definitions 
  

			
	Term	  	defined in
		
	 Spin-off
  

Shareholders’ Agreement
	  	 1.4
  

Preamble

		
	DBAG Shares	  	3.2.3
		
	DBAG / NYSE Euronext Combination	  	3.2.3
		
	Eurex	  	Preamble
		
	Eurex Shares	  	1.2
		
	Eurex Clearing	  	Preamble
		
	Eurex Frankfurt	  	Preamble
		
	Eurex Profit Participation Rights	  	1.2
		
	Eurex Group	  	Preamble
		
	Eurex Zürich	  	Preamble
		
	HoldCo	  	3.2.2
		
	HoldCo Shares	  	3.2.2
		
	Purchase Price	  	3.1
		
	NewCo	  	1.4
		
	NewCo Shares	  	1.4
		
	Effective Date	  	2.2.1
		
	Subsidiaries	  	1.3
		
	Seller Shares	  	1.4
		
	Regulation	  	4.2.1(i)(a)
		
	Completion	  	4.1
		
	Completion Date	  	4.1
		
	Conditions for Completion	  	4.2

  
  

3 

 Preamble 
 The Seller is a public company under Swiss law, registered in the commercial register (Handelsregister) of the canton Zurich under the company number CH-020.3.026.400-2 pursuant to
art. 620 et seq. of the Swiss Law of Obligations (Schweizerisches Obligationenrecht – OR) and has its seat in Zurich. SIX Swiss is a wholly owned subsidiary of the Seller. 

The Purchaser is a public company under German law registered in the commercial register of the Local Court (Amtsgericht) of Frankfurt am Main,
Germany, under HRB 32232 and has its statutory seat in Frankfurt am Main, Germany. 
 Since 1998 DBAG and SIX have jointly operated
the derivatives exchange Eurex (hereinafter referred to as “Eurex”) under the Shareholders’ Agreement dated 31 August 1998, together with the Amendment dated 26 May 2003, (hereinafter referred to as
“Shareholders’ Agreement”). 
 Eurex consists of the legal entities Eurex Zürich AG (hereinafter referred to as
“Eurex Zürich”), Eurex Frankfurt AG (hereinafter referred to as “Eurex Frankfurt”) and Eurex Clearing AG (hereinafter referred to as “Eurex Clearing”) and of other entities in which each of the
aforementioned companies alone or jointly hold, directly or indirectly, the majority of interests or voting rights (hereinafter referred to as “Eurex Group”). 
 DBAG and SIX each hold a 50 percent participation in the joint venture Eurex Zürich (the Seller indirectly holds such participation through SIX Swiss), while the distribution of profits as well
as the provision of funds for investments is split between DBAG and SIX in a proportion of 85%:15%. 
 The Parties have differing opinions on
various aspects of the Shareholders’ Agreement, including without limitation, the question how to proceed in the event of a termination of the Shareholders’ Agreement as a result of the liquidation of the joint venture. In view of the
limited duration of the Shareholders’ Agreement, in which period SIX would continue to have a right to 15% of the profits, and in order to avoid any legal disputes, DBAG and SIX have agreed to cancel their co-operation regarding the derivatives
exchange Eurex early, for which purpose DBAG will acquire the (indirect) 50 percent participation in Eurex Zürich held by SIX and will continue to operate Eurex on its own. 
 Now therefore, the Parties agree as follows: 

  
  

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	1	Corporate Status and Transfer 

  

	1.1	Eurex Zürich 

  

	 	1.1.1	Eurex Zürich is a public company under Swiss law, registered in the commercial register of the canton Zurich, Switzerland, under the company number
CH-020.3.924.509-9 pursuant to art. 620 et seq. of the Swiss Law of Obligations and has its seat in Zurich. 

  

	 	1.1.2	The share capital of Eurex Zürich amounts to CHF 10,000,000,— and is divided into 10,000 registered shares with limited transferability
(vinkulierte Namensaktien), each with a nominal value of CHF 1,000. The shares are fully paid up. 

  

	 	1.1.3	Share certificates 

 No certificates have been issued for the shares in Eurex Zürich. 
  

	1.2	Shareholdings of SIX Swiss 

SIX Swiss holds 5,000 shares in Eurex Zürich, which is a participation of 50% of the share capital of Eurex Zürich (these shares
are hereinafter referred to as the “Eurex Shares”). 
  

	1.3	Subsidiaries 

 Eurex
Zürich has direct and indirect shareholdings as described in Annex 1.3 in the companies specified in this Annex (hereinafter referred to as the “Subsidiaries”). 

 

	1.4	Spin-off 

 SIX Swiss
undertakes to contribute the Swiss derivatives business regarding Eurex Zürich (including the Eurex Shares, the 39,000 profit participation rights in Eurex Frankfurt and the rights in the Eurex system as well as the brand name
“Eurex”, excluding, however, the CHF Repo Market und OTC Spot Market) into NewCo, a Subsidiary to be newly established by SIX Swiss (hereinafter referred to as “NewCo”) at the book values for tax purposes applicable at the
completion time and to immediately distribute to the Seller 100% of the uncertificated NewCo Shares (hereinafter referred to as the “the NewCo Shares” or “the Seller Shares”) as a dividend in kind (hereinafter
referred to as “spin-off”) on the Completion Date (as defined below) at the latest. The spin-off shall be effected according to the following principles: 

 

	 	1.4.1	The spin-off shall be performed with economic effect as of 1 January 2012; 

 

	 	1.4.2	The spin-off shall be performed without the Purchaser owing a higher Purchase Price as a direct or indirect economic consequence thereof, with the aim of a
universal succession of title regarding the assets and contractual relationships to be transferred. The Parties shall agree on the technical details involved. 

 

	 	1.4.3	The spin-off shall include all assets and contractual relationships required or used (to the extent necessary for its operation) for the current operation of the
Swiss derivatives business (with the exception of the CHF Repo Market und OTC Spot Market) regarding Eurex Zürich, in particular all equipment used and all persons employed for the current business operations: 

 

	 	(i)	intangible assets including the client base (participants of Eurex Zürich), software rights 

  
  

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	 	(ii)	material assets 

  

	 	(iii)	contractual relationships (including those specified in Clauses 4.4.4, 4.4.6 to 4.4.10 and 4.4.13) 

To the extent that contractual relationships with any third party (excluding employment contracts) are not transferred to NewCo in the
course of the spin-off for legal reasons, it is agreed between the Seller and SIX Swiss and the Purchaser and/or NewCo that each Party shall put the other in the position it would have been in, if these contractual relationships had been
transferred. In such case, SIX Swiss shall be entitled to provide to NewCo the relevant contractual services to the same quality standards and on conditions that are otherwise similar, provided that this is possible under the individual contractual
relationships; 
  

	 	(iv)	employees according to their functions; this is based on the Parties’ assumption that approximately 15 employees on full time basis are employed in the
business to be spun-off. The employees’ right of refusal pursuant to art. 333 para. 1 of the Swiss Law of Obligations is reserved; 

  

	 	(v)	regarding persons who perform services for both SIX Swiss and Eurex Zürich, and regarding any assets or contractual relationships used by both SIX Swiss and Eurex
Zürich, the Parties shall find solutions by mutual agreement which are advantageous to both Parties; the provisions of Clauses 7.5 and 7.6 shall remain unaffected. 

 

	 	1.4.4	Liabilities, including any deferred, uncertain or unknown liabilities of SIX Swiss, shall be excluded from the transfer and shall not be assumed by NewCo unless
such liabilities arise under the transfer of the contractual relationships pursuant to Clause 1.4.3 (iii). In addition, the transfer shall not include any service provision relationships that are transferred, with the Purchaser’s
consent, to any third party acting as a service provider. 

  

	 	1.4.5	The Parties of this Share Purchase Agreement shall use their best efforts to jointly determine in more detail the size and further details of the spin-off by
30 September 2011. Entering into the spin-off agreement and any other agreement in connection therewith require the Purchaser’s consent. 

  

	2	Sale of the Seller Shares, Effective Date, Dividend Rights 

  

	2.1	Sale of the Seller Shares 

The Seller hereby sells the (uncertificated) Seller Shares to the Purchaser in accordance with the provisions of this Agreement. The
Purchaser hereby accepts such sale. 
  

	2.2	Effective Date, dividend rights regarding Seller Shares 

  

	 	2.2.1	 The sale of the Seller Shares shall be made with economic effect as of 1 January 2012, 0:00 hrs (hereinafter referred to as
“Effective Date”). Prior to the Effective Date, the Seller shall have a right to 15% of the profits under the existing agreements. As of the Effective Date, the Purchaser shall have a right to all profits of Eurex Group. As of the
Effective Date and subject to Completion the settlement 

  
  

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of actual cash flows within Eurex Group shall be effected in such a way that all income of Eurex Group will accrue to the Purchaser in accordance with the provisions of Clause 2.2.1
sentence 3. 

  

	 	2.2.2	Subject to the provisions of Clause 2.2.1 above, the sale shall include all claims and other rights relating to the Seller Shares, including full rights to
the dividends of Eurex Zürich carried by the Eurex Shares. 

  

	2.3	Separate transfer 

 The
Parties are in agreement that the sold Seller Shares shall not be transferred in rem (dinglich) by virtue of this Agreement; instead they shall be transferred by way of a separate assignment agreement pursuant to 4.4.3 on the Completion Date.

  

	3	Purchase Price; Terms of Payment 

  

	3.1	Purchase Price 

 The
Purchase Price to be paid for the Seller Shares by the Purchaser amounts to: 
 €590,000,000 (in words: five hundred
ninety million euros) (hereinafter referred to as the “Purchase Price”). 
 Subject to the Purchaser’s
right to offer alternative performance pursuant to Clause 3.2, the Purchase Price shall be paid in cash. 
  

	3.2	The Purchaser’s right to offer alternative performance 

  

	 	3.2.1	The Purchaser may, at its option, either pay the entire Purchase Price in cash or in the form of a mix of a cash payment of no less than €295,000,000
(50%) and no more than €295,000,000 (50%) in kind. 

  

	 	3.2.2	Should the Purchaser make use of its option to pay a part of the Purchase Price in kind, such payment in kind (after the Completion of the planned combination
between DBAG and NYSE Euronext) shall consist of shares in Alpha Beta Netherlands Holding N.V. (hereinafter referred to as “HoldCo Shares”), a public company incorporated under Dutch law and registered in the Dutch Trade Register of
the Chamber of Commerce under 52019756 (hereinafter referred to as “HoldCo”). The value to be taken into consideration for each HoldCo Share shall be €55.80. 

 

	 	3.2.3	In case the planned combination between the Purchaser and NYSE Euronext (hereinafter referred to as “DBAG/NYSE Euronext Combination”) is not
completed at the end of 31 March 2012 at the latest, the Purchaser may either pay the entire agreed Purchase Price in cash or in the form of a mix of a cash payment of no less than €295,000,000 (50%) and a payment in kind of no
more than €295,000,000 (50%) in the form of the Purchaser’s own shares (hereinafter referred to as “DBAG Shares”). The value to be taken into consideration for each DBAG Share shall be €55.80.

  

	 	3.2.4	 If the Completion Date falls before the record date (the date on which the resolution on the dividend is adopted by the relevant
shareholders’/general meeting) of HoldCo or DBAG the delivery of shares shall be made “cum-dividend”; 

  
  

7 

	 	 
if the Completion Date falls after the record date, the delivery of shares shall be made “ex-dividend”. 

 

	3.3	Exercise of the option 

Today the Purchaser has exercised its right to offer alternative performance (option) pursuant to Clause 3.2 above in a binding
manner to the effect that it will make a cash payment in the amount of €295,000,019.60 and a payment in kind in the amount of €294,999,980.40 in the form of 5,286,738 HoldCo Shares (in case Clause 3.2.2 applies) or DBAG Shares (in
case Clause 3.2.3 applies). 
  

	3.4	Due date of the Purchase Price and terms of payment 

 The Purchase Price pursuant to Clauses 3.1 and 3.2 shall be due on the Completion Date in accordance with the details of Clause 4.4; the (cash) Purchase Price (i.e. minus any payment in kind)
shall be remitted to the account specified by the Seller as set out below: 
 Account: 230-211366.61P 

IBAN: CH62 0023 0230 2113 6661 P 
 Recipient: SIX Group AG 
 Bank: UBS AG 

Swift: UBSWCHZH80A. 
 All costs and fees incurred in relation to the remittance shall be borne by the Purchaser. 
  

	4	Completion 

  

	4.1	Completion Date 

 The
Parties undertake to complete in rem the legal transactions agreed hereunder and to undertake the completion actions provided for in Clause 4.4 (hereinafter jointly referred to as “Completion”) on the last day of the month in
which the last Condition for Completion as specified in Clause 4.2 is fulfilled or, if such day is not a banking day, on the next following banking day. The day on which Completion actually takes place is referred to as “Completion
Date”. 
 Completion shall take place on the premises of SIX Group AG in Zurich at [9:00] ([nine]) a.m. CET unless
the Parties agree on another place and/or a different time. 
  

	4.2	Conditions for Completion 

The Parties shall not be obliged to proceed to Completion unless all Conditions for Completion as specified in Clauses 4.2.1 to 4.2.5
(hereinafter referred to as “Conditions for Completion”) have been fulfilled and the Parties have obtained knowledge thereof. They shall use their best efforts to ensure that the Conditions for Completion will be fulfilled as soon
as possible in accordance with the provisions hereof. 
  

	 	4.2.1	The transaction has been cleared under merger control law: 

  

	 	(i)	The European Commission has decided – provided that it is the competent authority – (or it is deemed to have been decided), 

  
  

8 

	 	(a)	under Article 6(1)(b) or, if the Commission has initiated proceedings pursuant to Article 6(1)(c), under Article 8(2) of Council Regulation (EC) 139/2004 (as amended
and applicable today) (the “Regulation”) declaring the transaction compatible with the EC Common Market either unconditionally or subject to the fulfilment of certain conditions or obligations (Auflagen oder Bedingungen)
accepted by the Purchaser; or 

  

	 	(b)	that the intended transaction in its entirety, or in parts, shall be referred to the competent authorities of one or more member states pursuant to article 4(4) or
article 9(3) of the Regulation, and 

  

	 	(I)	each authority has made a decision in respect of the parts of the transaction referred to it with a result as described in Clause 4.2.1(i)(a) above, and

  

	 	(II)	the European Commission has made a decision in respect of the parts of the transaction that have remained within its competence as described in Clause 4.2.1(i)(a)
above. 

  

	 	(ii)	The Federal Cartel Office (Bundeskartellamt) – where originally competent – 

 

	 	(a)	has notified the Seller and/or the Purchaser in writing of its intention not to prohibit the notified acquisition of the Seller Shares, either without reservation or
subject to certain requirements and conditions to be fulfilled by the Purchaser under this Share Purchase Agreement; or 

  

	 	(b)	has not notified the Seller and the Purchaser within a period of one month after the notification of the intended acquisition of the Seller Shares pursuant to
section 39 of the German Act against Restraints of Competition (Gesetz gegen Wettbewerbsbeschränkungen – GWB) that it has initiated formal investigation proceedings; or 

 

	 	(c)	has not issued any order pursuant to section 40 para. 2 sentence 1 of the German Act against Restraints of Competition within the periods of time
specified in section 40 para. 2 of the German Act against Restraints of Competition. 

  

	 	(iii)	The transactions under this Share Purchase Agreement have been explicitly cleared by the other competent competition authorities or are deemed to have been cleared
under any other applicable provisions of competition law, or the Seller and the Purchaser have agreed in writing that such clearance is not required prior to Completion. 

  
  

9 

	 	4.2.2	The consents required by the Purchaser have been granted prior to 17 June 2011: 

 

	 	(i)	the supervisory board of DBAG has consented to this Agreement and the transaction contemplated hereunder; 

 

	 	(ii)	on or after the date of the supervisory board meeting of DBAG to be held on 16 June 2011, the Board of Directors of NYSE Euronext has consented to the waiver
of the provisions pursuant to Section 7.1 (c), (f), (g) and (l) of the Business Combination Agreement entered into between DBAG and NYSE Euronext regarding the execution and Completion of this Agreement. 

 

	 	4.2.3	The consents required by the Seller have been granted: 

  

	 	(i)	the board of directors of SIX Swiss has consented to this Agreement and to the transaction contemplated hereunder; 

 

	 	(ii)	the Seller’s board of directors has consented to this Agreement and to the transaction contemplated hereunder. 

 

	 	4.2.4	The planned DBAG/NYSE Euronext Combination has been completed or 31 March 2012 has expired; if all Completion Conditions to which the planned DBAG/NYSE
Euronext Combination is subject, as specified in Clause 14 of the Offer Document, have been fulfilled by 31 March 2012 (without the combination having already been settled), 31 March 2012 shall be replaced by
15 April 2012. 

  

	 	4.2.5	The regulatory consents or approvals to be obtained in Switzerland, Germany and the USA have been granted and/or the required notifications have been made and
the corresponding time limits for prohibition have expired or decisions to give positive clearance have been made. 

Regarding the Conditions for Completion pursuant to Clause 4.2.3, SIX and SIX Swiss state that the consents required by the Seller
have already been granted by the boards of directors of the Seller and SIX Swiss, by way of resolutions adopted by such boards of directors, prior to entering into this Agreement, and that thus the Conditions for Completion pursuant to
Clause 4.2.3 have already been fulfilled. 
  

	4.3	Right of withdrawal 

 Each
Party shall be entitled to withdraw from this Agreement by giving notice in writing to the other Party if the Conditions for Completion pursuant to Clauses 4.2.1 to 4.2.5 have not been fulfilled by 30 June 2012. 

Regarding the Conditions for Completion set forth in Clause 4.2.1 and Clause 4.2.5 and if the clearances or approvals of the
competent authorities provided for therein are not granted or granted only subject to restrictions, requirements or conditions, the Parties shall seek and pursue all required and/or possible remedies against the relevant decisions of such
authorities; Clause 7.1.2 shall remain unaffected. 
 Regarding the Conditions for Completion pursuant to Clause 4.2.2,
each Party shall be entitled to declare its withdrawal even prior to 30 June 2012 if these Conditions for Completion have not been fulfilled prior to the date specified in Clause 4.2.2. 

If either Party withdraws from this Agreement, the Shareholders’ Agreement between SIX Swiss and the Purchaser as applicable today
shall remain in full force and effect, and SIX Swiss shall have a right to 15% of the profits obtained from Eurex under the Shareholders’ 

  
  

10 

 
Agreement for the entire period as of the execution of this Agreement to such Party’s withdrawal pursuant to this Clause 4.3. 

 

	4.4	Completion 

 This Share
Purchase Agreement shall be completed simultaneously (Zug um Zug). On the Completion Date the Parties shall undertake the actions set forth below and/or procure that such actions will be undertaken: 

 

	 	4.4.1	SIX Swiss shall enter into a transfer agreement with NewCo, which has been incorporated and registered in the commercial register in sufficient time prior to
that date, pursuant to the principles set forth in Clause 1.4 unless it has already done so prior to Completion. On the Completion Date the Seller, in its capacity as sole shareholder, shall resolve in an extraordinary general meeting of SIX
Swiss to be held on the same day that the NewCo Shares shall be distributed to the Seller as a dividend in kind. 

  

	 	4.4.2	The Purchaser shall pay the Purchase Price pursuant to Clause 3.4 to the Seller. If, and to the extent, the Purchaser exercises its right to offer
alternative performance pursuant to Clause 3.2, the Purchaser shall deliver to the Seller a declaration of assignment in the form provided for in Annex 4.4.2 regarding the assignment of the HoldCo Shares, or its own DBAG Shares (as the
case may be) by the Purchaser to the Seller. 

  

	 	4.4.3	The Seller shall deliver to the Purchaser: 

  

	 	(i)	a declaration of assignment regarding the assignment of the Seller Shares by the Seller to the Purchaser in the form provided for in Annex 4.4.3(i),

  

	 	(ii)	a legally valid resolution by the board of directors of Eurex Zürich regarding the unconditional approval of the spin-off of the Eurex Shares from SIX Swiss into
NewCo and the corresponding registration of NewCo in the share register of Eurex Zürich, 

  

	 	(iii)	a legally valid resolution by the board of directors of NewCo regarding the unconditional approval of the transfer of the NewCo Shares from SIX Swiss to the Seller and
the corresponding registration of the Seller in the share register of NewCo, 

  

	 	(iv)	a legally valid resolution by the board of directors of NewCo regarding the unconditional approval of the transfer of the NewCo Shares from the Seller to the Purchaser
and the corresponding registration of the Purchaser in the share register of NewCo, 

  

	 	(v)	the share registers of Eurex Zürich and NewCo which have been updated accordingly. 

The Seller shall be responsible for ensuring that the resolutions by the board of directors of NewCo as provided for in Clause 4.4.3
(iii) and (iv) will be adopted in a legally valid form. 
  

	 	4.4.4	 The spun-off Shareholders’ Agreement between SIX Swiss (previously Schweizer Börse) and the Purchaser pertaining to their joint
participation in Eurex Zürich and its subsidiaries shall be terminated in relation to SIX Swiss, which will be replaced by NewCo, upon execution of the change of parties agreement substantially in the

  
  

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form of Annex 4.4.4. The application of the provisions on software as set out in clause 7, on trademark licences as set out in clause 8 and on liquidation as set out
in clause 15 shall be excluded from such termination in relation to SIX Swiss. 

  

	 	4.4.5	The Seller shall submit to the Purchaser letters of resignation of all board members of the Seller who hold offices in the boards of NewCo, Eurex Zürich and
their respective subsidiaries and holding companies, each stating that such board members will no longer be entitled to assert any claims against NewCo, Eurex Zürich and their respective subsidiaries and holding companies. In return, the
Purchaser undertakes to procure that the resigning board members be fully exonerated. 

  

	 	4.4.6	The spun-off software agreement between the Purchaser and SIX Swiss (previously Schweizer Börse) shall be terminated in relation to SIX Swiss, which will be
replaced by NewCo, upon execution of the change of parties agreement with NewCo substantially in the form of Annex 4.4.6. 

  

	 	4.4.7	The spun-off operation agreement between SIX Swiss (previously Schweizer Börse) and Eurex Zürich shall be terminated in relation to SIX Swiss, which
will be replaced by NewCo, upon execution of the change of parties agreement with NewCo substantially in the form of Annex 4.4.7. 

  

	 	4.4.8	The spun-off consultancy and support agreement between the Purchaser and SIX Swiss pertaining to the development of and the requirements for the Eurex System
shall be terminated in relation to SIX Swiss, which will be replaced by NewCo, upon execution of the change of parties agreement with NewCo substantially in the form of Annex 4.4.8. 

 

	 	4.4.9	The spun-off master agreement between the Purchaser and SIX Swiss and the two performance certificates (Leistungsscheine) for the operation of the Eurex
system and the OTC CCP system shall be terminated in relation to SIX Swiss, which will be replaced by NewCo, upon execution of the change of parties agreement with NewCo substantially in the form of Annex 4.4.9.

  

	 	4.4.10	The spun-off investment protection agreement between the Purchaser and SIX Swiss regarding ISE and the investment protection agreement between the Purchaser, SIX
Swiss and Eurex Zürich regarding EEX shall, at the Purchaser’s option, either be terminated in relation to SIX Swiss, which will be replaced by NewCo, upon execution of the change of parties agreement with NewCo substantially in the form
of Annex 4.4.10 or be cancelled as a whole, in either case any compensation claims of SIX Swiss arising out of these agreements will be discharged by payment of the Purchase Price and SIX Swiss will transfer the Eurex Profit
Participation Rights to the Purchaser with economic effect as of 1 January 2012. 

  

	 	4.4.11	The letters of comfort issued by SIX Swiss in favour of Eurex Clearing shall be cancelled with effect as of 1 January 2012 upon execution of the
cancellation agreement substantially in the form of Annex 4.4.11. 

  

	 	4.4.12	Cancellation of further contractual relationships 

  

	 	(i)	The business management agreement between Eurex Zürich and SIX Swiss on the provision of central operations services shall be cancelled 

  
  

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	 	upon execution of the cancellation agreement substantially in the form of Annex 4.4.12 (i). 

 

	 	(ii)	The business management agreement between Eurex Zürich and Eurex Frankfurt on the one side and SIX Swiss on the other side on the provision of internet services
shall be cancelled upon execution of the cancellation agreement with NewCo substantially in the form of Annex 4.4.12 (ii). 	 

  

	 	(iii)	The business management agreement between Eurex Clearing and SIX Swiss on the provision of internet services for the clearing website of Eurex Clearing shall be
cancelled upon execution of the cancellation agreement with NewCo substantially in the form of Annex 4.4.12 (iii). 

  

	 	(iv)	The service agreement between SIX Swiss, Eurex Zürich, Eurex Frankfurt and Eurex Clearing on the provision of interface and technical support services as well as
support services regarding access points in Switzerland shall be cancelled upon execution of the cancellation agreement substantially in the form of Annex 4.4.12 (iv). 

 

	 	4.4.13	The “agreement between Deutsche Börse AG and SIX as joint shareholders of Eurex Zürich AG for the amicable settlement of the subject matters
specified herein in detail” dated 13 June/22 June 2005 – regarding the a/c/e patent and the CCP software – shall, except for clauses 2 and 4 (a) sentences 1 to 3, be fully cancelled in relation to SIX,
which will be replaced by NewCo, upon execution of the change of parties agreement with NewCo substantially in the form of Annex 4.4.13. 

 

	5	Representations and Warranties of the Seller 

  

	5.1	Representations and warranties 

 The Seller hereby makes the following representations and warranties as well as the representations and warranties set out in Clause 6 para. 2 sentence 2 to the Purchaser as per the
date of this Share Purchase Agreement, unless expressly provided otherwise herein. By performing the completion actions according to Clause 4.4, the Seller confirms such representations and warranties as well as their completeness and accuracy
also as of the date of Completion of this Agreement. 
  

	 	5.1.1	As of the Completion Date, the Seller Shares are in the unencumbered and exclusive ownership of the Seller which has the unrestricted right to sell and transfer
these shares. 

  

	 	5.1.2	Upon transfer of the Seller Shares according to Clause 4.4.3(i) hereof, the Purchaser shall gain unrestricted ownership of these shares as well as full
shareholder status. 

  

	 	5.1.3	As of the Completion Date, the value of profit taxes relating to the Eurex Profit Participation Rights shall be equal to their prime costs incurred by SIX Swiss
according to Swiss tax law. This means that no tax depreciation will have been made on the Eurex Profit Participation Rights by the date of Completion. Provided that, with respect to the Eurex Shares, there is a difference between the prime costs
and the value of profit taxes and thus, a corresponding liability to pay deferred profit taxes arises as of the Completion Date due to any past depreciation 

  
  

13 

	 	 
effective for tax purposes, the Seller will completely release the Purchaser from such liability to pay profit taxes (including default interest, unless the Purchaser or any of its affiliates are
at fault for such interest), if the liability to pay deferred taxes entails an obligation for NewCo or its legal successor to pay profit taxes after the Completion of the Share Purchase Agreement. The Purchaser is obliged to provide proof on the
merits and in terms of amount to the Seller by means of a final and non-appealable notice of tax assessment. 

  

	 	5.1.4	By way of transfer of the derivatives business (except for the CHF Repo Market and the OTC Spot Market) from SIX Swiss to NewCo according to Clause 4.4.1, and
subject to expressly contrary provisions in the spin-off agreement to be entered into – all assets and legal relationships, which are currently necessary or used (to the extent they are required to operate such business) to operate the
Swiss derivatives business (except for the CHF Repo Market and the OTC Spot Market) relating to Eurex Zürich, shall be transferred to NewCo in accordance with this Share Purchase Agreement and the spin-off agreement. 

 

	 	5.1.5	The boards of directors of the Seller and SIX Swiss are not aware of any material circumstances regarding the derivatives business of Eurex Zürich which have not
been disclosed to the Purchaser or its representatives in an appropriate manner. 

  

	5.2	Statute of limitations 

The Purchaser is entitled to assert, at any time and without regard to a specific review period or time limit for lodging a complaint, any
claims arising from the violation of, or non-compliance with, representations and warranties by way of legal action filed no later than 31 December 2012. The provision of the foregoing sentence 1 shall not apply to the warranty and
compensation obligation, under Clause 5.1.3; any claims in this respect shall be asserted by way of legal action within a period of 6 months after a final and non-appealable notice of tax assessment has been issued. 

 

	5.3	Restrictions 

 Except for the
representations and warranties made under Clause 5.1 above and Clause 6 para. 2 sentence 2 below, the Seller will not give any further representations and warranties. 

 

	5.4	Treatment of payments 

 Payments
by the Seller based on Clause 5 shall be considered as a reduction of the Purchase Price in the Purchaser/Seller relationship. 

  
  

14 

	6	Representations and Warranties of the Purchaser 

 If and to the extent the Purchaser exercises its options pursuant to Clause 3.2, the provisions of Clause 5 (except for Clauses 5.1.3 to 5.1.5) shall apply mutatis mutandis to the
HoldCo Shares or its own DBAG Shares (as the case may be). 
 The Purchaser warrants that, as of Completion, neither itself nor
its affiliates within the meaning of sections 15 et seq. of the German Stock Corporation Act (Aktiengesetz – AktG) will assert any claims against the SIX group companies that arise from the joint operation of the Eurex
derivatives exchanges (except for the CHF Repo Market and the OTC Spot Market), from the Shareholders’ Agreement and the agreements terminated in relation to SIX Swiss as set out in Clauses 4.4.4, 4.4.6 to 4.4.13; any compensation claims
already invoiced shall remain reserved. The above warranty shall be deemed given reciprocally also by the Seller, SIX Swiss and their affiliates within the meaning of sections 15 et seq. of the German Stock Corporation Act. Clauses 2.2 and
2.3 shall each remain unaffected. 
  

	7	Further Obligations of the Parties 

  

	7.1	Competition law procedures; other regulatory provisions 

  

	 	7.1.1	After (i) clearance with respect to the DBAG / NYSE Euronext Combination has been granted by the competent competition authorities, or (ii) the DBAG /
NYSE Euronext Combination has failed, the Purchaser shall, without undue delay, make all necessary filings with the competent competition or other administrative authorities. The filings shall be made by the Purchaser on behalf of all Parties with
the Seller’s written consent, such consent not to be unreasonably withheld by the Seller. The Seller and the Purchaser shall co-operate in preparing the filings as well as in any negotiations with competition or other administrative authorities
in order to achieve clearance of the transactions contemplated by this Agreement as soon as possible. The Parties shall provide the respective other Party without undue delay with copies of any correspondence with competition or other administrative
authorities and with copies of written statements, orders or decisions issued by such authorities. 

  

	 	7.1.2	If clearance by the competent competition authorities is made subject to conditions or requirements to be complied with or met by the Purchaser, the Purchaser
shall comply with and meet such conditions or requirements to the extent that this is economically reasonable for the Purchaser. 

  

	 	7.1.3	In view of the planned DBAG / NYSE Euronext Combination, the Parties consider it appropriate to co-ordinate with the German Federal Financial Supervisory
Authority (BaFin) and the U.S. Securities and Exchange Commission (SEC). The Purchaser will be in charge of carrying out such co-ordination with the BaFin and the SEC and will keep the Seller informed about any circumstances and events that are
relevant in this context. 

  

	7.2	Co-operation between the Parties 

 Immediately after this Share Purchase Agreement has been signed, the Parties will start to closely co-operate with each other to confirm, by way of a joint review, the mutual

  
  

15 

 
understanding regarding the existing contractual relationships as well as regarding the technical settlement and implementation of the transfer contemplated by this Share Purchase Agreement for
the complete separation (with the exception of the CHF Repo Market and the OTC Spot Market) of Eurex from SIX Swiss and the Seller (in each case including their affiliates within the meaning of sections 15 et seq. of the German Stock
Corporation Act; the obligation to continue, and comply with, the repo agreements pursuant to Clause 7.8.1 and any agreements entered into in connection with this Share Purchase Agreement shall remain unaffected by this. For these purposes, the
Purchaser shall be granted full rights of inspection with respect to the current business of Eurex Zürich and, in this context, reasonable access to the books and records of SIX Swiss as well as to its employees. 

 

	7.3	Business of Eurex Zürich until Completion 

 As of the execution of this Share Purchase Agreement until its Completion pursuant to Clause 4, SIX Swiss shall ensure – to the extent legally permitted and possible – that the operating
business of Eurex Zürich and the companies affiliated with Eurex Group, including the services provided by SIX, is carried on to the same extent as at the date of signing of this Share Purchase Agreement. To the extent that services provided by
SIX Swiss or its affiliates are still necessary or requested by the Purchaser for the continuation of Eurex Zürich’s business pursuant to Clause 7.8, the Parties will agree on the provision of such services under separate agreements.

  

	7.4	Transactions between execution and Completion 

  

	 	7.4.1	Notwithstanding the provisions in the Shareholders’ Agreement, SIX Swiss, or its representatives shall have no veto rights in the boards of Eurex Group
companies during the period as of the execution of this Share Purchase Agreement until its Completion pursuant to Clause 4; this applies in particular to transactions of Eurex Group outside the ordinary course of business. Where a resolution of
Eurex Zürich’s general meeting is required in this context, SIX Swiss shall work towards and vote in favour of such resolution. 

  

	 	7.4.2	The Purchaser represents and warrants that the suspension of the veto rights of SIX Swiss, or its representatives in the boards of the Eurex Group companies
pursuant to Clause 7.4.1 does in any event not impair SIX Swiss’s position and Eurex Zürich’s Swiss derivative business. Should the Parties agree that serious uncertainties as to the Completion of the transaction under this Share
Purchase Agreement have emerged, SIX Swiss may again to exercise its rights irrespective of the restrictions provided for in Clause 7.4.1. 

  

	7.5	Use of names, trademarks 

The Parties agree that, upon the termination of the Shareholders’ Agreement for SIX Swiss, also the licence to use the
“Eurex” trademark granted to SIX Swiss under Clause 8 of the Shareholders’ Agreement shall expire on the Completion Date; following Completion, NewCo or the Purchaser are thus exclusively entitled to any rights to names and any
trademark rights relating to “Eurex” and such rights may no longer be used by the Seller, SIX Swiss and their affiliates within the meaning of sections 15 et seq. of the German Stock Corporation Act. 

  
  

16 

	7.6	Software rights 

 The
Parties agree that (with the exception of software relating to the CHF Repo Market and the OTC Spot Market), upon the termination of the Shareholders’ Agreement for SIX Swiss, the licences for the Eurex system or rights in other software
granted or to be granted to SIX Swiss under the Shareholders’ Agreement, the agreement between DBAG and the Seller regarding CCP software and patents dated 22 June 2005, or under any other agreements, shall also expire on the Completion
Date (in particular Clauses 7 and 15 para. 2 of the Shareholders’ Agreement) or be transferred to NewCo by way of a spin-off against the issuance of NewCo Shares; following Completion, NewCo or the Purchaser are thus exclusively
entitled to any software rights in the Eurex system (with the exception of software relating to the CHF Repo Market and the OTC Spot Market) and such rights may no longer be used by the Seller, SIX Swiss and their affiliates within the meaning of
sections 15 et seq. of the German Stock Corporation Act. 
  

	7.7	Non-competition 

 For a
period of two years starting as of the Completion Date, the Seller and SIX Swiss, in each case including their respective affiliates within the meaning of sections 15 et seq. of the German Stock Corporation Act, shall neither directly nor
indirectly compete with Eurex in the derivative business as currently conducted by Eurex with respect to its nature and/or the products or product ranges; this applies in particular to the participation in, the management of, or the provision of
advice to, any undertaking competing with Eurex in this respect. There is no separate compensation due for the non-competition obligation pursuant to this Clause 7.7. 

 

	7.8	Business of Eurex Zürich after Completion 

  

	 	7.8.1	For a period of at least three years following Completion of the transaction pursuant to Clause 4, the Purchaser shall carry on Eurex Zürich’s
business, as currently conducted (including the CHF Repo Market and the OTC Spot Market – both markets henceforth operated on own account), essentially with a competitive operative platform operated under a Swiss licence, with Eurex Zürich
being required to grant access to Swiss and foreign participants (to the same extent as at the date hereof). 

  

	 	7.8.2	For the aforementioned period, the Parties undertake to comply with, and to ensure compliance with, the Agency Agreement regarding Eurex Repo as well as the
Software Licence Agreement regarding Eurex Repo, each entered into between Eurex Zürich and Eurex Frankfurt, respectively, and SIX Swiss, and the Agreement between Eurex Zürich and the Swiss National Bank regarding monetary policy
operations, as well as the Heads of Agreements between Eurex Zürich and SIX Swiss dated 30 October 2009 regarding Swiss reference rates. The Parties will ensure that, as of the Effective Date, any income from the repo market (including the
CHF Repo Market) and the OTC Spot Market flows to the Purchaser or its affiliates within the meaning of sections 15 of the German Stock Corporation Act. 

 

	 	7.8.3	To facilitate the fulfilment of the Purchaser’s obligations under Clause 7.8.1 and 7.8.2, SIX Swiss shall comply with any agreements as required for
this purpose, shall not unilaterally terminate such agreements without cause and, in particular, shall maintain the SMI licence granted to Eurex Frankfurt at the same terms for the aforementioned period. 

  
  

17 

	 	7.8.4	The Parties agree to hold joint discussions with the Swiss National Bank after having signed this Agreement to reach and implement a solution with respect to the
long-term continuation of the CHF Repo Market and the OTC Spot Market after the Completion and expiry of the three-year period pursuant to Clause 7.8.1 that corresponds to the Swiss National Bank’s interests. 

 

	 	7.8.5	If the period mentioned in Clause 7.8.1 has expired without the Parties and the Swiss National Bank having agreed pursuant to Clause 7.8.4 to otherwise carry
on the long-term operation of the CHF Repo Market and the OTC Spot Market, SIX Swiss shall grant the Purchaser a simple, perpetual, non-exclusive royalty-free licence to use the Repo software and related front end (GUI – graphical user
interface) then used by the Eurex Group companies to operate the repo market and the OTC Spot Market, which can only be transferred or sub-licensed to affiliates (with the front end also being sub-licensable to market participants). The
aforementioned licence shall include the right of the Purchaser and its affiliates to enhance the Repo software. 

  

	 	7.8.6	If the Swiss National Bank verifiably demands a Swiss-only solution for the CHF Repo Market and the OTC Spot Market excluding Eurex Group, the non-competition
obligation pursuant to Clause 7.7 shall not apply to such CHF Repo Market and OTC Spot Market. In this case, the Purchaser will ensure that the property rights in Repo software to which the Purchaser and Eurex Group are entitled due to newly
introduced functionalities are made available to SIX Swiss for use by way of simple, perpetual, non-exclusive royalty-free licences, which can only be transferred or sub-licensed to affiliates – restricted to the CHF Repo Market and the OTC
Spot Market. The aforementioned licences shall include the right of the Seller and its affiliates to enhance the newly introduced functionalities of the Repo software. 

 

	 	7.8.7	For a period of three years, the Purchaser shall carry on operating the Eurex SecLend platform in the context of the COSI collateralisation to the same extent as
currently conducted. As of the Effective Date, exclusively the Purchaser shall be entitled to any income due to Eurex under the COSI agreement in the context of the COSI collateralisation. For the avoidance of doubt, it is understood that the part
of the Eurex SecLend market not used in the context of the COSI collateralisation will be fully transferred to the Purchaser or NewCo, as applicable, and that the Purchaser or NewCo, as applicable, will be fully entitled to any proceeds from this
part. 

  

	7.9	Discussions to assess further co-operations 

 Immediately after the Completion, HoldCo and SIX will enter into non-binding discussions to assess further co-operations with respect to Scoach, STOXX, SIX Swiss Exchange, SIX x-clear, SIX SIS and SIX
Telekurs market data. If the planned DBAG / NYSE Euronext Combination fails, such discussions will be held between the Purchaser and SIX. 

  
  

18 

	7.10	Alternative arrangements 

The Parties may discuss with respect to all or individual agreements mentioned in Clause 4.4 that, instead of immediately terminating
such agreements, they shall be continued by SIX Swiss with a reduced scope or phased out. 
  

	7.11	Tax structuring 

 The
Parties will co-operate in the spin-off contemplated by this Share Purchase Agreement to avoid or reduce tax burdens or tax disadvantages that may arise in connection with the implementation of the spin-off and any related steps (including the
subsequent sale of all shares in NewCo to the Purchaser) under this Share Purchase Agreement. The Parties will use their best efforts to find a tax structure that is most favourable to both Parties. 

 

	7.12	As of the date of the execution of this Agreement, the Seller and SIX Swiss as well as their affiliates within the meaning of sections 15 et seq. of the
German Stock Corporation Act shall refrain from taking any steps aiming at an impairment of the planned combination of Deutsche Börse AG and NYSE Euronext. In this context, they waive in particular any rights to which they may be entitled
under Clause 11 and Clause 14 of the Shareholders’ Agreement. 

  

	8	Confidentiality and Press Releases 

  

	8.1	Confidentiality; press releases; publications 

  

	 	8.1.1	Immediately after signing this Share Purchase Agreement, the Purchaser will publish a corresponding ad-hoc announcement pursuant to section 15 para. 1
of the German Securities Trade Act (Wertpapierhandelsgesetz – WpHG). 

  

	 	8.1.2	Subject to the provision of Clause 8.1.1 and the Purchaser’s notification obligatons for the purposes of obtaining the necessary approvals under
Clause 4.2.2 – the Purchaser will impose a respective confidentiality obligation on NYSE Euronext – and subject to disclosure and filing requirements to the SEC and/or other authorities in the United States and the
publication of corresponding information on the internet page of the Purchaser and/or HoldCo, the Parties undertake to treat the contents of this Agreement secretly and confidentially vis-à-vis third parties, unless such facts are publicly
known or their publication is prescribed by law or required by public authorities. The confidentiality obligation in particular covers any non-public information which the parties involved come to know about the other Party in the course of the
negotiations. Such confidentiality obligation shall survive the termination of this Agreement. Press releases or other publications on the legal transactions proposed hereunder may be made by the Parties, subject to the prior approval of the form
and wording of such announcements by the respective other Parties. Any announcement which must be made in accordance with applicable law or stock exchange rules and regulations shall be made – to the extent legally permissible and possible
in terms of timing – after prior consultation with the respective other Party. 

  
  

19 

	8.2	Confidentiality on the Seller’s side 

 The Seller and its affiliates within the meaning of sections 15 et seq. of the German Stock Corporation Act shall, for a period of two (2) years following the Completion Date, treat all trade
secrets and business activities of Eurex Group confidentially, refrain from passing them to third parties and using them for own purposes, unless such trade secrets have become public knowledge without a violation of this obligation, the Seller or
any of its affiliates is subject to a statutory disclosure requirement or the Purchaser has expressly approved such disclosure in advance. This confidentiality obligation shall survive the termination of this Agreement. 

 

	9	Assignment of Rights and Obligations 

  

	9.1	Subject to the provision of Clause 9.2, any rights and obligations under this Agreement may neither be assigned in whole nor in part without the prior
written consent of the other Party. 

  

	9.2	The Purchaser is entitled to assign any rights and obligations under this Agreement to its affiliates within the meaning of sections 15 et seq. of the
German Stock Corporation Act. In the event of an assignment, the Purchaser will continue to be jointly and severally liable to the Seller. 

  

	10	Costs 

  

	10.1	Each Party shall bear its own costs and expenses, including any professional fees, costs and expenses of their advisers incurred for or in connection with the
preparation, execution and implementation of this Share Purchase Agreement. 

  

	10.2	Any fees (other than taxes) incurred as a result of the execution or implementation of this Agreement shall be borne by the Purchaser. The same shall apply to
any fees and other costs incurred in connection with cartel proceedings and the compliance with other regulatory provisions. 

  

	10.3	The Parties assume that the execution of this Agreement and its implementation (including the spin-off) will not trigger Swiss VAT or Swiss stamp duty
(Emissionsabgabe) and, in the case of the spin-off, that Swiss VAT will be accounted for pursuant to the notification procedure of art. 38 of the Swiss VAT Act (Mehrwertsteuergesetz – MWSTG). If, contrary to the
Parties’ understanding, one of the above taxes were to arise the Seller shall pay such tax. Regarding VAT, the Purchase Price is deemed to include VAT. Regarding the stamp duty, the Seller would have to reimburse any stamp duties to NewCo; such
payment would constitute a reduction of the Purchase Price. The Seller and/or SIX Swiss shall provide the Purchaser or NewCo with all documents which may be required for any potential subsequent deduction of Swiss input VAT.

  

	10.4	 If tax neutrality with respect to the spin-off is not achieved because the Purchaser does not continue the part of undertaking transferred to
NewCo in accordance with art. 61 para. 1 letter b. of the Swiss Federal Act on Direct Federal Tax (Bundesgesetz über die direkte Bundessteuer) and section 67 para. 1 letter b of the Tax Act of Canton Zurich
(Steuergesetz des Kantons Zürich), the Purchaser is obliged, in deviation from 

  
  

20 

	 	 
Clause 10.3, to pay any and all Swiss taxes for which SIX Swiss and NewCo would otherwise be liable. The Parties will co-operate to obtain a binding ruling from the competent Swiss tax
authorities on the tax neutrality of the spin-off, including the question of continuation of the spinned-off part of undertaking. The Seller will support the Purchaser in its discussions with the Swiss tax authorities, to the effect that they
establish in advance and with binding effect, that a proposed restructuring of the part of undertaking transferred to NewCo will qualify as a tax-neutral continuation (steuerneutrale Weiterführung) within the meaning of the provisions
set out above; this shall include the filing of applications to obtain binding advance rulings. 

  

	10.5	The Parties further assume that the execution and implementation of this Agreement qualify as a restructuring (Umstrukturierung) within the meaning of
art. 14 of the Swiss Federal Act on Stamp Duties (Bundesgesetz über die Stempelabgaben) and will thus not trigger Swiss transfer stamp tax (Umsatzabgabe); if any transfer stamp taxes become payable nevertheless, either Party
shall pay half of such taxes. 

  

	10.6	In principle, the execution and implementation of this Agreement are subject to German VAT (VAT-able other supply) according to the provisions of the German VAT
Act (Umsatzsteuergesetz – UStG); however, they are exempt from German VAT pursuant to section 4 no. 8 letter f. of the German VAT Act which means that no German VAT will be payable. The Seller and the Purchaser
undertake to refrain from waiving the exemption from VAT according to section 9 of the German VAT Act; should such waiver be made nevertheless, the waiving Party shall pay any German VAT which will become due. 

 

	11	Notices 

  

	11.1	Form of notices 

All notices in connection with this Agreement shall be deemed to be given if made in writing and either delivered by hand or sent by
registered mail or fax to the following addresses: 
  

	 	11.1.1	To the Purchaser: 

 Deutsche Börse AG 
 Attn.: Dr Roger Müller

 Managing Director and General Counsel 

Mergenthalerallee 61 
 D-65760 Eschborn 
 Tel.: +49 (0) 69 2110 

Fax: +49 (0) 69 2111 2005 

as well as to its legal advisers for information purposes: 

Linklaters LLP 

  
  

21 

 Dr Ralph Wollburg 

and Mr Achim Kirchfeld 
 Königsallee 49 – 51 
 D-40212 

Tel.: +49 211 22977 – 0 
 Fax: +49 211 22977 89195 
  

	 	11.1.2	To the Seller 

 SIX
Group AG 
 Attn.: Prof Dr Peter Gomez 
 Selnaustrasse 30 
 P.O. box 1758 

CH-8021 Zurich 

Tel.: +41 (0) 58 399 2091 
 Fax: +41 (0) 58 499 5455 
 as well as to its legal advisers for
information purposes: 
 Nobel & Hug Rechtsanwälte 

Prof Dr Peter Nobel 
 Dufourstrasse 28 
 P.O. box 1372 

CH-8032 Zurich 
  

	 	11.1.3	To SIX Swiss 

 SIX Swiss
Exchange AG 
 Attn.: Prof Dr Peter Gomez 
 Selnaustrasse 30 
 P.O. box 

CH-8021 Zurich 

Tel.: +41 (0) 58 399 5454 
 Fax: +41 (0) 58 499 5455 
 as well as to its legal advisers for
information purposes: 

  
  

22 

 Nobel & Hug Rechtsanwälte 

Prof Dr Peter Nobel 
 Dufourstrasse 28 
 P.O. box 1372 

CH-8032 Zurich 
  

	11.2	Change of address 

 The
Parties shall notify the other Parties and their legal advisers of any changes of the addresses set out in Clause 11.1 without undue delay. The current address shall be deemed valid until such notice is given. 

 

	11.3	Notices to legal advisers 

  

	 	11.3.1	The receipt of notices or copies thereof in connection with this Agreement by the Parties’ legal advisers does not constitute or replace the receipt of such
notices by the Parties themselves. 

  

	 	11.3.2	For a notice to be deemed as duly received by either Party, it shall be irrelevant whether the legal adviser of the respective Party has received such notice for
information purposes; this shall apply irrespective of whether this Agreement provides for such receipt. 

  

	12	Miscellaneous; Final Provisions 

  

	12.1	Governing law 

 This
Agreement shall be governed by Swiss substantive law, excluding conflict of laws rules. 
  

	12.2	Arbitration clause 

Disputes and claims arising out of or in connection with this Agreement, including its validity, invalidity, breach or cancellation, shall
be settled by way of arbitration proceedings in accordance with the Swiss Rules of International Arbitration of the Swiss Chambers of Commerce (Internationale Schiedsordnung der Schweizerischen Handelskammern). The proceedings shall be
governed by version of the arbitration rules which are applicable at the date the initiation notice is served. The arbitral tribunal shall consist of three arbitrators. Place of arbitration shall be Zurich. The language of the arbitration
proceedings shall be German. The Parties have agreed and shall procure that the aforementioned arbitral tribunal shall have exclusive jurisdiction also for disputes in connection with the Shareholders’ Agreement to be terminated in relation to
SIX Swiss and/or the termination or cancellation of other agreements according to this Share Purchase Agreement; if the Shareholders’ Agreement is not terminated the arbitral tribunal agreed therein shall continue to have jurisdiction.

  

	12.3	Amendments 

  
  

23 

 Any amendments or supplements to this Share Purchase Agreement need to be made in writing to
become effective. The same applies to amendments to this written form requirement. 
  

	12.4	Annexes 

 All annexes form
an integral part of this Share Purchase Agreement. 
  

	12.5	Entire agreement 

 This
Share Purchase Agreement (including the annexes hereto) conclusively contains any and all agreements of the Parties on the subject matter hereof and shall replace all oral or written negotiations, arrangements and agreements previously made between
the Parties with respect to the subject matter hereof. Ancillary agreements to this Agreement do not exist. 
  

	12.6	Severability clause 

Should a provision of this Share Purchase Agreement be or become, in whole or in part, void, invalid or unenforceable, this shall not
affect the validity and enforceability of the remaining provisions hereof. The void, invalid or unenforceable provision shall be deemed to be replaced by such valid and enforceable provision that comes closest to the economic purpose pursued by such
void, invalid or unenforceable provision in terms of subject matter, extent, time, place or scope of application. The same shall apply accordingly to any gaps in this Share Purchase Agreement. 

7 June 2011 
  

					
	 /s/ Reto Francioni
	 		  	 /s/ Gregor Pottmeyer

	 Reto Francioni

Deutsche Börse AG
	 		  	 Gregor Pottmeyer
 Deutsche
Börse AG

			
	 /s/ Peter Gomez
	 		  	 /s/ Romeo Lacher

	 Peter Gomez
 SIX Group
AG
	 		  	 Romeo Lacher
 SIX Group
AG

			
	 /s/ Peter Gomez
	 		  	 /s/ Stefan Mäder

	 Peter Gomez

SIX Swiss Exchange AG
	 		  	 Stefan Mäder
 SIX Swiss
Exchange AG

  
  

24Patent Cross License Agreement

 Exhibit 10.01 
 Patent Cross License Agreement 
 This Patent Cross License Agreement
(“Agreement”) dated June 13, 2011 (“Effective Date”) is by and between Meru Networks, Inc. (a Delaware Corporation) and its Affiliates (collectively “Meru”), and Motorola Solutions, Inc., a Delaware corporation and
its Affiliates, including Symbol Technologies, Inc., Wireless Valley Communications, Inc., and AirDefense, Inc. (collectively “Motorola”). Each of Meru and Motorola shall be considered to be a “Party” and one of the
“Parties” to this Agreement. 
 WHEREAS, Motorola owns certain patents in various countries of the world related to Wireless
LAN Infrastructure that are identified herein as Motorola Licensed Patents; 
 WHEREAS, Meru desires to obtain a license under the
Motorola Licensed Patents to make, use, import, offer for sale, lease, distribute, sell and/or otherwise dispose of Meru Licensed Products as defined herein and a release for the alleged past infringement thereof as hereinafter provided for the
consideration set forth below; 
 WHEREAS, Motorola is willing to grant such a license and release for the alleged past infringement
under the Motorola Licensed Patents for the consideration set forth below subject to the terms and conditions hereof; 
 NOW, THEREFORE,
in consideration of the foregoing and the mutual covenants and agreements set forth below, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows: 

Section 1. Definitions  
 “Affiliate” of any corporation, company or other entity within the definition of Party means any other corporation, company or other entity now or hereafter directly or indirectly controlled or
majority-owned by such first corporation, company or other entity, provided that such other corporation, company or other entity shall be deemed to be an Affiliate only so long as such ownership or control exists. Each such Affiliate shall be bound
by the terms and conditions of this Agreement as if it were named herein as one of the Parties. For purposes of this definition, the term “control” as used with respect to any corporation, company or other entity, means the direct
or indirect ownership or control (whether through option, warrant, contract or otherwise) of more than fifty percent (50%) of the voting securities of any corporation, company or other entity or the direct or indirect power to elect more than
fifty percent (50%) of any corporation’s, company’s, or other entity’s board of directors or other managing authority; provided, however, that if local law restricts the maximum ownership of foreign interests to fifty percent
(50%) or less, control shall be established by direct or indirect beneficial ownership of one hundred percent (100%) of the maximum ownership percentage that may be owned by foreign interests under such local law. 

“Meru Licensed Patents” means all Patents owned, controlled or sub-licensable (without compensation to a third party other than an employee
inventor) as of the Effective Date by Meru and infringed, or might be alleged to be infringed, by Motorola Licensed Products. 
 “Meru
Licensed Products” means all commercially available Meru 802.11 wireless controllers, dependent access points, and their associated operation systems that have been manufactured or sold 

  
 1 

 
by Meru as of the Effective Date (“Meru Existing Products”), and all commercially reasonable product extensions of the same type and nature as the Meru Existing Products (“Meru
Follow On Products”). 
 “Meru Excluded Products” means: (i) mobile client devices; (ii) mobile telephony products,
including cellular infrastructure and both single mode cellular, dual mode cellular/802.11 and single mode VOIP handsets; (iii) private mobile radio products (e.g., iDEN, APCO, P-25 and TETRA based), (iv) cable and DSL modems, set top
boxes and associated content receiving devices and head-end equipment; and (v) devices for reading machine readable symbols or tags, such as barcode readers or RFID readers. To the best of the Parties’ knowledge, no Meru Excluded Products
exist as of the Effective Date. 
 “Meru Covered Products” means all commercially available products that have been manufactured or
sold by Meru as of the Effective Date, and all their commercially reasonable product extensions of the same type and nature, excluding Meru Excluded Products. 
 “Meru’s Patents” means all Patents currently or hereafter owned, controlled or sub-licensable (without compensation to a third party other than an employee inventor) by Meru. 

“Motorola’s Patents” means all Patents currently or hereafter owned, controlled or sub-licensable (without compensation to a third party
other than an employee inventor) by Motorola, but excluding the Excluded Motorola Patents. 
 “Motorola Licensed Patents” means all
Patents owned, controlled or sublicensable (without compensation to a third party other than an employee inventor) as of the Effective Date by Motorola and infringed, or might be alleged to be infringed, by Meru Licensed Products, but excluding
Motorola Excluded Patents. 
 “Motorola Excluded Patents” means Patents owned, controlled or sub-licensable (without compensation to a
third party other than an employee inventor) by Motorola, including both standards essential Patents and implementation Patents, to the extent they are related to: i) 2G, 3G or 4G telecommunications standards and functions, including GSM, CDMA,
TD-SCDMA, W-CDMA, WIMAX, and LTE; or, ii) traditional dispatch communication systems (e.g., TETRA, DMR and APCO 25) as well as associated Motorola proprietary communication protocols (e.g., iDEN); or, (iii) push to talk functionality; or,
(iv) voice quality functionality (other than as defined in the 802.11 standard or as necessary to allow the 802.11 wireless LAN infrastructure to process associated traffic between the infrastructure and a client device); or, (v) any
client devices; or, (vi) devices or technologies for reading machine readable symbols or tags, such as barcode readers or RFID readers. 

“Motorola Licensed Products” means all commercially available products that have been manufactured or sold by Motorola as of the Effective Date
(“Motorola Existing Products”), and all commercially reasonable product extensions of the same type and nature as the Motorola Existing Products (“Motorola Follow On Products”). 

“Patents” means all patents worldwide other than design patents, including utility models and all applications therefor, including without
limitation continuations, continuations-in-part, divisionals, reexaminations, extensions, foreign counterparts and any patents reissuing thereon. Design patents are not within the scope of this cross license agreement. 

  
 2 

 “Protected Parties” means, with respect to a Party, such Party’s direct and indirect
distributors, dealers, resellers, original equipment manufacturers (“OEMs”), original design manufacturers (“ODM’s”), suppliers, contractors, consultants, developers, customers and end users of such Party. End
users of Meru’s Covered Products and Motorola’s Licensed Products shall be considered end users of Meru and Motorola, respectively. 

“Term” means the period from the Effective Date through and including the earlier of November 3, 2016 or the date of any earlier
termination of the Agreement as provided herein. 
 Section 2. Mutual Releases  

2.1 Effective as of the Effective Date, Motorola, as releasor, on behalf of itself and its Affiliates, and, to the extent permitted by law, its and their
past and present directors, officers, agents, employees, and attorneys, and any permitted assigns, successors or predecessors in interest thereto, hereby individually and collectively, irrevocably and unconditionally (provided there is no uncured
breach of Section 5) releases, waives, acquits, and forever discharges, and covenants not to sue: 
 (a) Meru, its Affiliates,
and its and their past and present directors, officers, agents, employees, and attorneys, and any permitted assigns, successors or predecessors in interest thereto, from any and all actions of any kind and nature, at law, in equity, or otherwise,
known and unknown, suspected and unsuspected, disclosed and undisclosed to the extent they arise from or are based upon the business activities prior to the Effective Date of Meru and its Affiliates; and 

(b) Meru, its Affiliates, and its and their respective employees, officers, and directors, and its and their respective Protected Parties from any and
all actions for infringement or alleged infringement of any of Motorola’s Patents that arise from or are based upon: 

(1) the exploitation prior to the Effective Date of Meru’s Covered Products by Meru or its Affiliates, or 

(2) the use, import, offer for sale, lease and/or sale prior to the Effective Date by such Protected Parties of Meru’s Covered
Products and solely such combinations thereof as are authorized under Section 3.4 (but not any other products, services, software, systems and/or combinations of the Protected Parties). 
 2.2 Effective as of the Effective Date, Meru, as releasor, on behalf of itself and its Affiliates, and, to the extent permitted by law, its and their past and present directors, officers, agents,
employees, and attorneys, and any permitted assigns, successors or predecessors in interest thereto, hereby individually and collectively, irrevocably and unconditionally releases, waives, acquits, and forever discharges, and covenants not to
sue: 
 (a) Motorola, its Affiliates, and its and their past and present directors, officers, agents, employees, and attorneys, and any
permitted assigns, successors or predecessors in interest thereto, from any and all actions of any kind and nature, at law, in equity, or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed to the extent they arise
from or are based upon the business activities prior to the Effective Date of Motorola and its Affiliates; and 

  
 3 

 (b) Motorola, its Affiliates, and its and their respective employees, officers, and directors, and its and
their respective Protected Parties from any and all actions for infringement or alleged infringement of any of Meru’s Patents that arise from or are based upon: 
 (1) the exploitation prior to the Effective Date of Motorola’s Licensed Products by Motorola or its Affiliates, or 
 (2) the use, import, offer for sale, lease and/or sale prior to the Effective Date by such Protected Parties of Motorola’s Licensed Products and solely such combinations thereof as are
authorized under Section 3.4 (but not any other products, services, software, systems and/or combinations of the Protected Parties). 
 2.3
Each Party and, to the extent permitted by law, its past and present directors, officers, agents, employees, and attorneys, and any permitted assigns, successors or predecessors in interest thereto expressly waive any statute, legal doctrine or
other similar limitation upon the effect of general releases. By way of example, and without limitation, the foregoing parties waive the benefit of California Civil Code Section 1542, which states as follows: 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF
EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.” 
 The foregoing parties,
with the advice of their counsel, waive any rights or benefits that they, or any of them, might otherwise have under Civil Code Section 1542 and any other statute, legal doctrine or principle of similar effect in California, or any other state,
federal or foreign jurisdiction, to the full extent that such rights and benefits may be waived. 
 Section 3. License Grants

 3.1.1 Subject to the terms and conditions hereinafter set forth, Motorola, as Grantor, grants to Meru, as Grantee, a paid-up,
unconditional license except as set forth in Section 3.2 and 3.3 and provided there is no uncured breach of Section 5 (with Meru having ten days to cure upon receipt of written notice from Motorola) by Meru, royalty-free, non-exclusive,
non-transferable and worldwide license, without the right to sub-license, under the Motorola Licensed Patents during the Term of this Agreement: 
 (a) to make (but not have made) (including the right to use any apparatus and practice any method in making), use (including the right to practice any method or process with respect to such use), import,
offer for sale, lease, distribute, sell and/or otherwise dispose of Meru Licensed Products; and 
 (b) to have Meru Licensed Products made by
another manufacturer for the use, importation, offer for sale, lease, sale and/or other disposal by Meru only when the conditions set forth in Section 3.2 are met. 
 3.1.2 Subject to the terms and conditions hereinafter set forth, Meru, as Grantor, grants to Motorola, as Grantee, a paid-up, unconditional license except as set forth in Section 3.2 and 3.3,
royalty-free, 

  
 4 

 
non-exclusive, non-transferable and worldwide license, without the right to sub-license, under the Meru Licensed Patents during the Term of this Agreement: 

(a) to make (but not have made) (including the right to use any apparatus and practice any method in making), use (including the right to practice any
method or process with respect to such use), import, offer for sale, lease, distribute, sell and/or otherwise dispose of Motorola Licensed Products; and 
 (b) to have Motorola Licensed Products made by another manufacturer for the use, importation, offer for sale, lease, sale and/or other disposal by Motorola only when the conditions set forth in
Section 3.2 are met. 
 3.2 The licenses granted in Section 3.1.1(b) and 3.1.2(b) to each respective Grantee to have products made by
another manufacturer, and any covenant granted in Section 4 with respect to the Parties: 
 (a) shall apply only to products made for sale
back to (i) such Grantee and/or (ii) such customers with which such Grantee has binding contractual commitments covers such sale (i.e., pricing, warranty, performance, etc.) and to which such Grantee has contractually authorized such ODMs,
OEMs and suppliers to sell; and 
 (b) shall apply only to such Grantee’s Licensed Products and/or portions thereof for which the
specifications were substantially furnished by such Grantee (either solely or jointly with one or more third parties) or for which the designs are owned by such Grantee or licensed by such Grantee only in the case of reference designs provided by an
original design manufacturer (ODM); and 
 (c) shall not apply to any products in the form manufactured or marketed by said other manufacturer
prior to such Grantee’s furnishing of said specifications. 
 3.3 Notwithstanding anything to the contrary in this Agreement, such
Grantee’s Licensed Products and the products subject to the covenant granted in Section 4 do not include products manufactured by such Grantee as a foundry or contract manufacturer for a non-end user third party where such third party
provides the detailed specifications for such products (without substantial participation by Grantee in the development thereof) and such Grantee manufactures such products in accordance with such specifications for sale back to such third party.

 3.4 (a) Except as expressly provided herein, no license, covenant or immunity is granted under this Agreement by a Party, either
directly or by implication, estoppel or otherwise to any Protected Parties or other third parties for the combination of Meru’s Covered Products or Motorola’s Licensed Products with other items or for the use of such combination, except
that the Parties hereby agree that: 
 (i) the covenants, licenses and immunities granted hereunder extend to the Parties
and the Protected Parties for such combinations where there is no substantial non-infringing use of such Covered Product or Licensed Products in the case of Motorola other than in such combinations and its only reasonable and intended use is to
practice such claimed invention (but for the avoidance of doubt, to no other combinations other than the combinations authorized under this Section and to no other products, services, software, and/or systems of the Protected Parties); 

  
 5 

 (ii) To the extent the doctrine of patent exhaustion would apply to a first sale or
other disposal made under the covenants, licenses, and immunities granted hereunder, the parties agree that such doctrine shall apply regardless of whether the first sale or other disposal is in the U.S. or anywhere else in the world. 

(b) For the avoidance of doubt, neither Party grants the Protected Parties of the other Party any authority to use any products,
services, software, systems and/or combinations of the Protected Parties other than (i) such other Party’s Covered Products or Licensed Products in the case of Motorola or (ii) the combinations authorized under Section 3.4(a).

 (c) Notwithstanding anything to the contrary in this Agreement, neither Party grants to the other Party any licenses,
covenants, releases, immunities or other rights with respect to the sale or other disposal to, or the use by, any of the parties with whom such Party is adverse in a pending patent infringement action or proceeding before a court of competent
jurisdiction (as identified in writing by each Party to the other Party immediately prior to the Effective Date) of any client software of the other Party. 
 Section 4. Covenant Not To Assert 
 4.1 During the first 3 years of the
Term (the “Limited Term”), and effective as of the Effective Date, Motorola hereby covenants not to assert a claim against Meru alleging infringement of Motorola Patents based on or arising out of (a) the exploitation by Meru
of Meru Covered Products and/or (b) the use, import, offer for sale, lease and/or sale by Meru of Meru Covered Products and solely such combinations as are authorized under Section 3.4 (but not any other products, services, software,
systems and/or combinations of the Protected Parties). 
 4.2 During the first 3 years of the Term (the “Limited Term”), and
effective as of the Effective Date, Meru hereby covenants not to assert a claim against Motorola alleging infringement of Meru Patents based on or arising out of (a) the exploitation by Motorola of Motorola Licensed Products and/or (b) the
use, import, offer for sale, lease and/or sale by Motorola of Motorola Licensed Products and solely such combinations as are authorized under Section 3.4 (but not any other products, services, software, systems and/or combinations of the
Protected Parties). 
 4.3 Each Party agrees that no damages or liabilities shall accrue against the other Party for any Patent
infringement within the scope of the covenants set forth in Sections 4.1 and 4.2 until 3 years from the Effective Date, at which time such damages or liabilities shall begin to accrue in the event of an assertion brought after the expiration of
such covenants. 
 4.4 Notwithstanding anything herein to the contrary, the releases, licenses, dismissals, and covenants granted by each Party
shall run with such Party’s Patents and remain in full force and effect regardless of any subsequent assignment, exclusive license, sale, gift or other transfer of any of such Patents or any rights or interests therein. Notwithstanding anything
herein to the contrary, any such assignment, exclusive license, sale, gift or other transfer of rights in or to such Patents by each Party shall be made subject to this Agreement, and any such assignment, exclusive license, sale, gift or other
transfer of rights in or to such Patents by such Party in contravention of this Section shall be null and void and of no force or effect to the extent of such contravention. 

  
 6 

 4.5 In the event either Party asserts a Patent infringement claim in violation of this Section 4, or in
violation of the releases granted in Section 2 or the licenses granted in Section 3, the non-asserting Party shall be entitled to have such claims dismissed with prejudice and recover from the asserting Party its reasonable attorneys’
fees and reasonable associated costs and expenses incurred in defending against the assertion. In the event the non-asserting Party claims such a violation, and such asserting Party’s infringement assertion is not found to be in violation, such
asserting Party shall be entitled to recover from the non-asserting Party its reasonable attorneys’ fees and reasonable associated costs and expenses incurred in defending against the claim of a violation. 

Section 5. Payment 
 5.1
In consideration of the releases, licenses and rights granted hereunder, Meru shall pay to Motorola a lump sum upfront non-refundable fee of $7,250,000 (Seven Million Two Hundred Fifty Thousand U.S. Dollars) payable on or before July 1, 2011,
12 Noon PDT. Time is of the essence with respect to this payment. Such payment shall be made by wire transfer to the account of Motorola Solutions, Inc. as follows: 
 Account Name: Motorola Solutions, Inc. 
 Account No: 00154413 

ABA Number: 021000089 
 Bank Name and Address:
Citibank, 111 Wall Street, New York, N.Y. 10005 
 Swift Code: CITIUS33 
 Beneficiary Name: Motorola Solutions, Inc. 
 Section 6. Term and Breach 

 6.1 Unless earlier terminated under the provisions of this Agreement: i) the Term of the licenses granted in Section 3 shall be for
the Term and the covenants made in Section 4.1 and 4.2 of this Agreement shall be for the Limited Term. 
 6.2 In the event of a breach by
Meru of its payment obligation under Section 5 of this Agreement, Motorola shall provide written notice of such breach to Meru. Within ten (10) calendar days after such written notice from Motorola, Meru may cure such breach. If Meru does
not cure its breach within such ten (10) calendar day cure period, then Motorola may terminate the release, licenses, and covenant granted to Meru hereunder upon written notice to Meru. 
 Section 7. Communications  
 7.1 Notices and other communications shall be sent
by facsimile or by Federal Express or other overnight courier to the following addresses: 
  

			
	For Meru:	 	For Motorola:
		
	Meru Networks, Inc.	 	Motorola Solutions, Inc.
	894 Ross Drive	 	1303 Algonquin Road
	Sunnyvale, CA 94089	 	Schaumburg, IL 60196

  
 7 

			
	Attention: General Counsel and CFO	 	Attention: Vice President Law - Intellectual Property

  

			
	With a copy to:	 	
		
	Motorola Solutions, Inc.	 	
	Enterprise Mobility business	 	
	One Motorola Plaza	 	
	Holtsville, NY 11742	 	
	Attention: Law Department	 	

 Such notices shall be deemed to have been served when tendered for delivery. Either Party may give written
notice of a change of address and, after notice of such change has been received, any notice or request shall thereafter be given as provided above to such Party at such changed address. 
 Section 8. Dispute Resolution  
 8.1 During the Term of this Agreement, all
disputes arising out of or relating to (i) the interpretation or performance of this Agreement or (ii) any patent licenses, covenants or other rights subject to this Agreement shall first be discussed by the employees of each Party
responsible for administration of this Agreement in an attempt to find a mutually acceptable resolution through friendly consultations. If such dispute is not resolved within thirty (30) days after the commencement of such consultation (or any
extension mutually agreed to by the Parties), either Party may escalate the discussions to executives who have authority to settle the dispute and are at a higher level of management than the persons with direct responsibility for administration of
this Agreement, by written notice to the other Party within 15 days after the end of the thirty (30) day initial consultation period. 

8.2 In the event that executive-level discussions do not result in resolution of the dispute within forty five (45) days after the written notice by
either Party demanding executive-level discussions, either Party may bring an action as provided in section 9.14 below for final and binding interpretation or enforcement of this Agreement. All negotiations pursuant to this clause are confidential
and shall be treated as compromise and settlement negotiations for purposes of applicable rules of evidence (e.g., F.R.E. 408). 

Section 9. Miscellaneous  

9.1 Neither Party shall assign any of its rights or delegate any of its obligations under this Agreement. Any attempt to do so, by operation of law or
otherwise, shall be void; provided, however, that each Party hereto shall have the right to assign this Agreement in connection with (i) a reorganization to its legal successor(s), provided that after the reorganization, the successor(s) and
its Affiliates will have essentially the same assets as such Party had prior to the reorganization; or (ii) the sale or transfer of all or substantially all of its business or assets, whether by sale, merger, operation of law, or otherwise in
connection with a change of control (“Change of Control”). This Agreement shall be binding upon and inure to the benefit of the Parties and their permitted (in accordance with the foregoing) successors and assignees, provided that such
successor or assignee, as the case may be, executes an agreement to be bound by all the obligations of such Party under this Agreement and a copy of such agreement is provided to the other Party hereto. 

  
 8 

 In the case of Change of Control, the following restrictions automatically apply: 

 

	 	(a)	the Party that has been acquired (“Acquired Party”) shall promptly give notice of such acquisition to the other Party; 

 

	 	(b)	the licenses granted to the Acquired Party under the other Party’s Patents licensed under this Agreement, and the releases, covenants and other rights made for the
benefit of the Acquired Party, shall not extend to any pre-existing products, services, software, methods, processes, apparatuses, systems, specifications, documentation, and/or any other technology of the applicable third party acquirer (the
“Third Party Acquirer”) and any extensions, modifications, enhancements and revisions thereof and/or new products, technologies, services products, services, software, methods, processes, apparatuses, systems, specifications,
documentation, and/or any other technology of the Third Party Acquirer developed after the consummation of such Change of Control other than any of the foregoing developed or created solely by the Acquired Party or using solely its businesses or
assets; and 

  

	 	(c)	the license and covenant granted under this Agreement shall apply only up to an annual sales dollar volume same to the annual sales dollar volume of the Acquired
Party’s Licensed Products in the twelve (12) month period prior to the Change of Control, increased in each subsequent twelve (12) month period by the greater of: A. 15% per year, or B. the percentage growth rate for such
Acquired Party’s Licensed Products in the twelve (12) month period prior to the Change of Control. 

 Notwithstanding
anything else to the contrary in this Agreement, as this Agreement may be for the benefit of multiple businesses of Motorola, in the event Motorola separates one or more of its businesses (each a “Separated Business”), whether by
way of a sale, establishment of a joint venture, spin-off or otherwise (each a “Separation Event”), Motorola may, without the prior written consent of the other party and at no additional cost to Motorola, split this Agreement by
assigning certain of its rights or obligations such that it will continue to benefit both Motorola and the Separated Business and their respective Affiliates following the Separation Event. The benefit of this Section for the Separated Business
shall apply only up to an annual sales dollar volume same to the annual sales dollar volume of the Separated Business products in the twelve (12) month period prior to the Separation Event, increased in each subsequent twelve (12) month
period by the greater of: A. 15% per year, or B. the percentage growth rate for such Separated Business products in the twelve (12) month period prior to the Separation Event. 
 In no event shall the Separation Event result in Meru’s being required to increase its obligations under, scope of license or payments owed as a result of this Agreement, or decrease or diminish the
rights enjoyed by Meru pursuant to this Agreement, and in no event shall a Separated Business enjoy any of the rights of Motorola under this Agreement without also accepting the associated Motorola obligations and limitations hereunder. Further,
promptly after a Separation Event, the Separated Business will execute in writing an agreement to be bound by all the obligations of Motorola under this Agreement with respect to such rights and obligations assigned to such Separated Business in
such Separation Event, and a copy of such agreement will be provided to Meru. 
 9.2 Each Party represents and warrants that it has the full
right and power to enter into and perform this Agreement, including granting the releases and licenses set forth in Sections 2 and 3, respectively, and to make the covenants set forth in Section 4, and that the entrance into and
performance of this Agreement does not and will not conflict with or violate any other agreement or 

  
 9 

 
license of, or rights granted by, such Party. Neither Party makes any other representation or warranty, express or implied, nor shall either Party have any liability in respect of any
infringement of patents or other rights of third parties due to the other Party’s operation under the licenses herein granted. 
 9.3 The
Parties expressly agree and acknowledge that by entering into this Agreement no Party (nor any Protected Party) admits any liability, wrongdoing or the truth of any allegation contained in any claim, defense or counterclaim. Neither this Agreement
nor any provision in this Agreement may be construed or used as an admission of any wrongdoing, liability, or violation of law whatsoever, and nothing in this Agreement is an admission by any Party or any of its Protected Parties that any patents or
patent applications of the other Party are infringed, valid or enforceable. Nothing contained in this Agreement shall be construed as conferring any rights by implication, estoppel or otherwise, under any non-patent intellectual property right,
under any design patent or trademark, trade name or brand, or, other than as expressly set forth in this Agreement, under any patents or patent applications. Neither Party is required hereunder to furnish or disclose to the other any technical or
other information except as specifically provided herein. 
 9.4 Neither Party shall have any obligation hereunder to institute any action or
suit against third parties for infringement of any of its patents or to defend any action or suit brought by a third party which challenges or concerns the validity of any of its patents. Neither Party shall have any right to institute any action or
suit against third parties for infringement of the other Party’s patents. Neither Party is required to file any patent application, or to secure any patent or patent rights, or to maintain any patent in force. 

9.5 No express or implied waiver by either of the Parties to this Agreement of any breach of any term, condition or obligation of this Agreement by the
other Party shall be construed as a waiver of any subsequent breach of that term, condition or obligation or of any other term, condition or obligation of this Agreement of the same or of a different nature. 

9.6 This Agreement is the result of negotiation between the Parties and, accordingly, shall not be construed for or against either Party regardless of
which Party drafted this Agreement or any portion thereof. 
 9.7 IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY OR TO ANY OTHER
PERSON OR ENTITY BY REASON OF THIS AGREEMENT OR ANY BREACH OR TERMINATION OF THIS AGREEMENT (UNDER ANY CONTRACT, NEGLIGENCE, STRICT LIABILITY OR OTHER THEORY) FOR ANY LOSS OF PROSPECTIVE PROFITS OR ANY INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES
ARISING OUT OF OR RELATED TO THE SUBJECT MATTER OF THIS AGREEMETN, EVEN IF THE PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR LOSSES. 
 9.8 With respect to matters of contract construction and interpretation, the substantive law of the state of New York, United States of America shall apply to this Agreement, without regard to conflicts
of laws principles. However, with respect to matters of infringement and validity of intellectual property rights, the substantive law of the nation having jurisdiction over such property or over matters affecting such intellectual property rights
shall be applied. 

  
 10 

 9.9 This Agreement shall not be binding upon the Parties until it has been signed below by or on behalf of
each Party. No amendment or modification of this Agreement shall be valid or binding upon the Parties unless made in writing and signed by each Party, except that either Party may amend its address or addressee in Section 7.1 by written notice
to the other Party. 
 9.10 If any term, clause or provision of this Agreement is found by competent authority to be invalid, illegal or
unenforceable in any respect for any reason, the Parties shall negotiate in good faith a valid, legal and enforceable substitute provision that most nearly reflects the original intent of the Parties, and the remainder of this Agreement shall
continue in effect. 
 9.11 The headings of sections are inserted for convenience of reference only and are not intended to be a part of or to
affect the meaning or interpretation of this Agreement. 
 9.12 The Parties agree that all provisions, terms, and conditions of this Agreement
are and will remain confidential, and they shall not disclose such terms under any circumstances to any person not a Party hereto, except: (i) with the prior written consent of the other Party; (ii) to the extent such disclosure may be
required by applicable law or securities regulation; (iii) as may be required to a Party’s auditors, insurers, bankers, legal counsel and other legal and financial advisors but only under confidentiality obligations at least as protective
as those of this Agreement; and (iv) to a third party in connection with a potential merger or acquisition by, of or with the Party, or any other potential change of control of a Party but only under confidentiality obligations at least as
protective as those of this Agreement. 
 9.13 This Agreement sets forth the entire understanding and agreement between the Parties as to the
subject matter hereof and merges and supersedes all previous communications, negotiations, warranties, representations and agreements between the Parties, either oral or written, with respect to the subject matter thereof, and no addition to or
modification of the Agreement shall be binding on either Party unless reduced to writing and signed by duly authorized representatives on behalf of each of the Parties. 
 9.14 All disputes, differences or questions between the Parties relating to the construction or interpretation of this Agreement shall be finally settled by the U.S. Federal Court for the Southern
District of New York and applicable appellate courts, which shall have exclusive jurisdiction and whose determinations shall be final and binding on the Parties. In the event there is no subject matter jurisdiction in such Federal Court, the New
York Supreme Court, New York County and applicable appellate courts shall have exclusive jurisdiction. The Parties waive any objection to personal jurisdiction in such courts and waive any argument that such venues are inconvenient. 

9.15 This Agreement may be executed in two or more counterparts, each of which is deemed an original, but all of which together constitute one and the
same instrument. A facsimile or copy of a signature is valid as an original. 
 9.16 The Parties shall issue a joint press release mutually
approved by both Parties. The Parties shall make no public statements inconsistent with the joint press release. 

  
 11 

 IN WITNESS WHEREOF, Motorola Solutions, Inc. and Meru Networks, Inc., for themselves and each of their
Affiliates, have themselves, by their duly authorized representative(s), caused this Agreement to be executed as of the Effective Date: 
  

									
	Agreed to:	 		 	Agreed to:
	MOTOROLA SOLUTIONS, INC.	 		 	MERU NETWORKS, INC.
					
	By:	  	 /s/ Robert Sanders
	 		 	By:	 	 /s/ Ihab Abu-Hakima

	Name:	  	Robert Sanders	 		 	Name:	 	Ihab Abu-Hakima
	Title:	  	Senior Vice President	 		 	Title:	 	President and CEO
		  	Motorola Solutions, Inc.	 		 		 	
					
	Date:	  	June 13, 2011	 		 	Date:	 	June 14, 2011

  

			
	Agreed to:
	MOTOROLA SOLUTIONS, INC.
		
	By:	 	 /s/ Jonathan Meyer

	Name:	 	Jonathan Meyer
	Title:	 	Senior Vice President
		 	Motorola Solutions, Inc.
		
	Date:	 	June 13, 2011

  
 12

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