Document:

Form of subscription agreement -- Canada

 

Exhibit 4.44

Canada
and International

SUBSCRIPTION FOR UNITS

	 	 	 
	TO:

	 	Spectrum Signal Processing Inc. (the “Corporation”)

One Spectrum Court

200 – 2700 Production Way

Burnaby, British Columbia

V5A 4X1

The undersigned (hereinafter referred to as the “Subscriber”) hereby irrevocably subscribes for and
agrees to purchase the number of units of the Corporation (the “Units”) set forth below for the
aggregate subscription price set forth below, representing a subscription price (the “Subscription
Price”) of Cdn.$0.78 per Unit, upon and subject to the terms and conditions set forth in this
Subscription Agreement. Each Unit consists of one common share (a “Common Share”) of the
Corporation and one quarter of one common share purchase warrant, each whole common share purchase
warrant (a “Warrant”) entitling the holder to purchase one additional Common Share (a “Warrant
Share”) on the terms and conditions set out in the form of Warrant certificate attached as Schedule
B. This subscription is subject to acceptance by the Corporation and, subject to applicable
securities laws, may be accepted as to the number of Units subscribed for below or such lesser
number as may be determined by the Corporation in its sole discretion.

DATED
at ____________________, in the Province of ____________________ this
__________ day of ____________________, 2006.

	 	 	 
	 

	(Name
of Subscriber — please print)

	 
	 	 
	By:

	 	 

	 

	 	(Authorized Signature)
	 
	 	 
	 
	 	 
	 

	(Official Capacity or Title — please print)
	 
	 	 
	 
	 	 
	 

	(Please print name of individual whose signature appears
above if different than the name of the subscriber
printed above.)
	 
	 	 
	 
	 	 
	 

	(Subscriber’s Address)
	 
	 	 
	 
	 	 
	 

	(Telephone Number)                              (E-Mail Address)

Number of Units:

Aggregate Subscription Price:

Principal’s Name and Address:

Please complete if purchasing as an agent for any other
beneficial purchaser and not deemed to be purchasing as
principal under applicable securities legislation:

 

(Name of Principal)

 

(Principal’s Address)

 

Registration Instructions:

 

(Name)

 

(Account reference, if applicable)

 

(Address)

 

Delivery
Instructions: Please specify where
you would like the Units to be delivered, if
different from your address above

 

(Name)

 

(Account reference, if applicable)

 

(Contact)

 

(Address)

Number of Common Shares Currently Held (excluding those subscribed for herein):

	The Subscriber is an Insider of the Corporation

	 	Yes o
	 	No o

 

 

Canada and International

Note to Subscriber — you must:

	(1)	 	read this Subscription Agreement and complete the cover page;
	 
	(2)	 	read Schedule A; and
	 
	(3)	 	if you are a resident of or your purchase of securities
hereunder is otherwise subject to the securities laws of
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario,
Québec, Newfoundland and Labrador, Nova Scotia, Prince Edward
Island, Northwest Territories, Nunavut or an International
Jurisdiction (outside of Canada and the United States), and you
are an “accredited investor” as such term is defined in
National Instrument 45-106 Prospectus and Registration
Exemptions OR you are purchasing securities hereunder having an
aggregate subscription price of not less than Cdn.$150,000,
read and complete Annex I or Annex II to Schedule A, as
applicable.

If you are not an “accredited investor” as such term is defined in National
Instrument 45-106 Prospectus and Registration Exemptions and you are not
purchasing securities having an aggregate subscription price of Cdn.$150,000
or greater, then you may not subscribe for securities under this Subscription
Agreement.

Please return all completed pages by facsimile with the full original by courier to the following
address by no later than 4:00 p.m. (Vancouver time), __________, October 4, 2006:

McCarthy Tétrault LLP

777 Dunsmuir Street, Suite 1300

Vancouver, British Columbia

CANADA V7Y 1K2

Attention: Michael Urbani

Tel: (604) 643-7189

Fax: (604) 605-5289

 

Canada and International

TERMS AND CONDITIONS

OF SUBSCRIPTION

	1.	 	Private Placement.  The Subscriber acknowledges that the Units will be issued in
connection with the creation, issue and sale of up to 2,000,000 Units by the Corporation on a
private placement basis at a Subscription Price of Cdn.$0.78 per Unit, for aggregate gross
proceeds of approximately Cdn.$1,560,000 (the “Offering”).
	 
	2.	 	Subscription for Units.  The Subscriber hereby confirms its subscription for and
agrees to take up the Units as provided for on the cover page of this Subscription Agreement
and acknowledges that this subscription is subject to acceptance by the Corporation and to the
fulfilment of certain other terms and conditions by the Subscriber.
	 
	3.	 	Certain Representations, Warranties and Covenants of Subscriber.  By executing this
Subscription Agreement, the Subscriber (on its own behalf and, if applicable, on behalf of
each beneficial purchaser on whose behalf the Subscriber is acting) further represents,
warrants and covenants to the Corporation (which representations, warranties and covenants
shall survive the closing of the purchase of the Units) and acknowledges that the Corporation
and its counsel are relying thereon that:

	 	(a)	 	it has been independently advised as to and is aware that applicable securities
legislation may impose restrictions on the resale of the Common Shares and Warrants
comprising the Units and of the Warrant Shares issuable upon exercise of the Warrants
(the Common Shares comprising the Units, and the Warrant Shares are collectively
referred to as the “Securities”) and is aware of the risks in purchasing and the other
characteristics of the Units and of the fact that it may not be able to resell the
Securities except in accordance with the terms and conditions of this Subscription
Agreement, applicable securities legislation and regulatory policy;
	 
	 	(b)	 	it acknowledges and understands that the certificates representing the both the
Warrants and the Securities will bear a legend regarding restrictions on transfer which
may apply under applicable securities legislation;
	 
	 	(c)	 	it acknowledges and understands that (i) it has been advised to, and should,
consult its own legal advisors with respect to applicable restrictions on the resale of
the Securities purchased by it, and (ii) it is solely responsible (and the Corporation
is not in any manner responsible) for compliance with such restrictions, and (iii) it
will comply with such restrictions;
	 
	 	(d)	 	it acknowledges and understands that the Corporation has the right to accept
this subscription offer in whole or in part;
	 
	 	(e)	 	it is capable of assessing the proposed investment as a result of its financial
and investment experience or as a result of advice received from a person registered
under applicable securities legislation as an adviser or dealer, other than the
Corporation or any affiliates thereof, and is able to bear the economic loss of its
investment;
	 
	 	(f)	 	it acknowledges that it has been encouraged to obtain independent legal,
investment and tax advice with respect to its subscription of Units and accordingly has
had the opportunity to acquire an understanding of the meanings of all the terms
contained herein relevant to the Subscriber for the purpose of giving representations,
warranties and covenants under this Subscription Agreement and the transactions
contemplated hereunder;
	 
	 	(g)	 	it has not in connection with the Offering, received, nor has it requested, nor
does it have any need to receive, any offering memorandum or similar document
describing the business and affairs of the Corporation which has been or appears or
purports to have been prepared primarily for delivery to, and review by, prospective
subscribers in order to assist them in making an investment decision in respect of the
Units;

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	 	(h)	 	insofar as the Subscriber is aware, the offering of Units is not being
accompanied by any advertisement in the printed media or on radio or television or by
other means of telecommunication including electronic display such as the Internet or
any other form of advertisement or general solicitation with respect to the
distribution;
	 
	 	(i)	 	the Subscriber certifies that it is resident in the province set out in the
“Subscriber’s Address” on the cover page of this Subscription Agreement and, if the
Subscriber is purchasing as an agent or trustee for one or more beneficial purchasers
as described in Section 3(r)(i), each such beneficial purchaser is resident in the
province set out in the “Subscriber’s Address” on the cover page of this Subscription
Agreement and if the Subscriber is acting as an agent or trustee for one or more
beneficial purchasers as described in Section 3(r)(ii), the name and address of each
such beneficial purchaser is set out in the “Principal’s Name and Address” on the cover
page of this Subscription Agreement, and the purchase by and sale to the Subscriber of
the Units, and any act, solicitation, conduct or negotiation directly or indirectly in
furtherance of such purchase and sale (whether with or with respect to the Subscriber
or any beneficial purchaser) has occurred only in such province;
	 
	 	(j)	 	it has properly, executed and delivered to the Corporation, Annex I to Schedule
A or Annex II to Schedule A, as applicable, and the information contained therein is
true and correct;
	 
	 	(k)	 	this Subscription Agreement has been duly and validly executed and delivered by
the Subscriber, and, if the Subscriber is not an individual, has been duly authorized
by the Subscriber, and, upon acceptance by the Corporation, this Subscription Agreement
will constitute a legal, valid and binding contract of the Subscriber enforceable
against the Subscriber, and any beneficial purchasers on whose behalf the Subscriber is
acting, in accordance with its terms;
	 
	 	(l)	 	if the Subscriber is a corporation, partnership, unincorporated association or
other entity, it has the legal capacity to enter into and be bound by this Subscription
Agreement and further certifies that all necessary approvals and authorizations of
directors, shareholders, partners or otherwise have been given and obtained;
	 
	 	(m)	 	if an individual, it has attained the age of majority and is legally competent
to execute this Subscription Agreement and to take all actions required pursuant
hereto;
	 
	 	(n)	 	it acknowledges and understands that no person has made any written or oral
representation (i) that any person will resell or repurchase the Securities; (ii) that
any person will refund the purchase price of the Units; and (iii) as to future price or
value of the Securities;
	 
	 	(o)	 	it acknowledges and understands that (i) no securities commission or similar
regulatory authority has reviewed or passed on the merits of the Units, (ii) there is
no government or other insurance covering the Units, (iii) there are risks associated
with the purchase of the Units, (iv) there are restrictions on the Subscriber’s ability
to resell the Securities and it is the responsibility of the Subscriber to find out
what those restrictions are and to comply with them before selling the Securities, and
(v) the Corporation has advised the Subscriber that the Corporation is relying on an
exemption from the requirements to provide the Subscriber with a prospectus and to sell
securities through a person or company registered to sell securities under applicable
securities legislation and, as a consequence of acquiring securities pursuant to this
exemption, certain protections, rights and remedies provided by applicable securities
legislation, including statutory rights of rescission or damages, will not be available
to the Subscriber;
	 
	 	(p)	 	if required by applicable securities legislation, policy or order or by any
securities commission, stock exchange or other regulatory authority, it will, with
respect to this Subscription Agreement, execute, deliver and file or assist the
Corporation in obtaining and filing such reports, undertakings and other documents
relating to the purchase of the Units by the Subscriber as may be required, including,
without limitation, any applicable form referred to in Section 5 hereof;

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	 	(q)	 	unless purchasing under Section 3(r) or 3(s) below, it is or is deemed to be,
pursuant to National Instrument 45-106 “Prospectus and Registration Exemptions” (“NI
45-106”), purchasing the Units as principal for its own account, not for the benefit
of any other person, for investment only and not with a view to the resale or
distribution of all or any of the Securities, it is resident in, or otherwise
subject to the applicable securities legislation of, the jurisdiction set out as the
“Subscriber’s Address” on the cover page of this Subscription Agreement and it fully
complies with the criteria set forth below:

	 	(i)	 	it is resident in or otherwise subject to applicable securities
legislation of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario,
Québec, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Northwest
Territories or Nunavut and it is an “accredited investor” as such term is
defined in NI 45-106 (substantially reproduced in Annex I to Schedule A
hereto), it was not created or used solely to purchase or hold securities as an
accredited investor as described in paragraph (m) of Annex I to Schedule A
hereto, and it has concurrently initialled or placed a check mark in Annex I to
Schedule A indicating that the Subscriber satisfies one of the categories of
“accredited investor” set forth in such definition; or
	 
	 	(ii)	 	it is resident in or otherwise subject to applicable securities
legislation of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario,
Québec, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Northwest
Territories or Nunavut and it is purchasing a sufficient number of Units such
that the aggregate acquisition cost to the Subscriber is not less than
$150,000, paid in cash at the time of the trade, and it has concurrently
completed Annex II to Schedule A; provided, however, that the Subscriber has
not been created or used solely to purchase or hold securities in reliance on
this exemption;

	 	(r)	 	if it is not purchasing as principal, it is duly authorized to enter into this
Subscription Agreement and to execute and deliver all documentation in connection with
the purchase on behalf of each beneficial purchaser for whom it is acting, each of whom
is purchasing as principal for its own account, not for the benefit of any other
person, and not with a view to resale or distribution of all or any of the Securities,
it acknowledges that the Corporation may be required by law to disclose to certain
regulatory authorities the identity of each beneficial purchaser of Units for whom it
may be acting as agent, and it and each beneficial purchaser is resident in British
Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, Newfoundland and Labrador,
Nova Scotia, Prince Edward Island, Northwest Territories or Nunavut, it is an
“accredited investor”, as such term is defined in NI 45-106, it was not created or
used solely to purchase or hold securities as an accredited investor as described in
paragraph (m) of Annex I to Schedule A hereto, and it has concurrently initialled or
placed a check mark in Annex I to Schedule A indicating that the Subscriber satisfies
one of the categories of “accredited investor” set forth in such definition, and

	 	(i)	 	it is:

	 	(I)	 	a trust company or trust corporation described in paragraph (p) of
the definition of “accredited investor” as set out in Annex I to
Schedule A excluding a trust company or trust corporation registered
under the laws of Prince Edward Island that is not registered or
authorized under the Trust and Loan Companies Act (Canada) or under
comparable legislation in another jurisdiction of Canada; or
	 
	 	(II)	 	a person or company described in paragraph (q) of the definition
of “accredited investor” as set out in Annex I to Schedule A; or

	 	(ii)	 	it is acting as agent for one or more principals, each of which
principal is purchasing as principal for its own account, not for the benefit
of any other person, and not with a view to the resale or distribution of all
or any of the Securities and each of which principals satisfies all of the
requirements described in Section 3(q) and, if any such principal is an
“accredited investor” as such term is defined in NI 45-106, the Subscriber has
placed the initials of any

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	 	 	 	such principal in Annex I to Schedule A indicating that such principal
satisfies one of the categories of “accredited investor” set forth in such
definition and, if any such principal is one of the persons described in
Section 3(q)(ii), the Subscriber has placed the initials of any such
principal opposite such paragraph, and has indicated which of the foregoing
paragraphs is applicable by initialling such paragraph;

	 	(s)	 	if the Subscriber is resident in a jurisdiction (the “International
Jurisdiction”) outside of Canada and the United States:

	 	(i)	 	the Subscriber is knowledgeable of, or has been independently
advised as to, the applicable securities laws of the International Jurisdiction
(which are defined in this Subscription Agreement to mean, in respect of each
and every offer or sale of Units, the securities legislation having application
and the rules, policies, notices and orders issued by the securities regulatory
authorities having jurisdiction over the Subscriber and the Offering (other
than the laws of Canada and the U.S.) which would apply to this subscription,
if there are any);
	 
	 	(ii)	 	the Subscriber is purchasing the Units pursuant to exemptions
from the prospectus and registration requirements under the applicable
securities laws of the International Jurisdiction or, if such requirements are
not applicable, the Subscriber is permitted to purchase the Units under the
applicable securities laws of the International Jurisdiction without the need
to rely on such exemptions; and
	 
	 	(iii)	 	the applicable securities laws of the International
Jurisdiction do not require the Corporation to make any filings or seek any
approvals of any kind whatsoever from any regulatory authority of any kind
whatsoever in the International Jurisdiction and the distribution of the Units
to the Subscriber by the Corporation complies with all applicable securities
laws of the International Jurisdiction;

	 	(t)	 	it acknowledges and agrees that the Warrants may not be transferred or
assigned;
	 
	 	(u)	 	it is aware that the Units have not been and will not be registered under the
United States Securities Act of 1933, as amended (the “1933 Act”) or the securities
laws of any state and that Securities may not be offered or sold in the United States
without registration under the 1933 Act or compliance with requirements of an exemption
from registration and the applicable laws of all applicable states and acknowledges
that the Corporation has no present intention of filing a registration statement under
the 1933 Act in respect of the Units;
	 
	 	(v)	 	it is not a U.S. Person (as defined in Regulation S under the 1933 Act, which
definition includes, but is not limited to, an individual resident in the United
States, an estate or trust of which any executor or administrator or trustee,
respectively, is a U.S. Person and any partnership or corporation organized or
incorporated under the laws of the United States) and is not purchasing the Units on
behalf of, or for the account or benefit of, a person in the United States or a U.S.
Person and the Subscriber confirms that the Units have not been offered to the
Subscriber in the United States and that this Subscription Agreement has not been
signed in the United States;
	 
	 	(w)	 	it undertakes and agrees that it will not offer, sell or otherwise dispose of
the Securities in the United States or to a U.S. Person (as defined above) unless the
Corporation has consented to such offer, sale or distribution and such offer, sale or
distribution is made in accordance with an exemption from such registration
requirements under the 1933 Act and the securities laws of all applicable states of the
United States and further that it will not resell the Securities, except in accordance
with the provisions of applicable securities legislation, regulations, rules, policies
and orders and stock exchange rules;

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	 	(x)	 	it has no knowledge of a “material fact” or “material change” (as those terms are
defined in applicable securities legislation) in the affairs of the Corporation that
has not been generally disclosed to the public, other than knowledge of this
particular transaction;
	 
	 	(y)	 	it has such knowledge and experience in financial and business affairs as to be
capable of evaluating the merits and risks of its investment and it, or, where it is
not purchasing as principal, each beneficial purchaser, is able to bear the economic
risk of loss of its investment;
	 
	 	(z)	 	it acknowledges that the Units are being purchased pursuant to exemptions from
the prospectus requirements contained in applicable securities legislation and, as a
result:

	 	(i)	 	the Subscriber is restricted from using most of the civil
remedies available under applicable securities legislation;
	 
	 	(ii)	 	the Subscriber may not receive information that would otherwise
be required to be provided to the Subscriber under applicable securities
legislation; and
	 
	 	(iii)	 	the Corporation is relieved from certain obligations that
would otherwise apply under applicable securities legislation;

	 	(aa)	 	(i) to the best of the Subscriber’s knowledge none of the funds comprising the
Subscription Price (A) have been or will be derived from or related to any activity
that is deemed criminal under the law of Canada, the United States of America, or any
other jurisdiction, or (B) are being tendered on behalf of a person or entity who has
not been identified to the Subscriber, and (ii) it shall promptly notify the
Corporation if the Subscriber discovers that any of such representations ceases to be
true, and to provide the Corporation with appropriate information in connection
therewith; and
	 
	 	(bb)	 	the Subscriber covenants to indemnify the Corporation against all losses,
claims, costs, expenses and damages or liability which it may suffer or incur, caused
or arising from reliance upon the representations, warranties, acknowledgements and
covenants of the Subscriber contained herein and the Subscriber further agrees that by
accepting the Units, the Subscriber shall be representing and warranting that such
representations, warranties, acknowledgements and covenants are true as at the Closing
Date with the same force and effect as if they had been made by the Subscriber at the
Closing Date and that they shall survive the purchase by the Subscriber of the Units
and shall continue in full force and effect notwithstanding any subsequent disposition
by the Subscriber of any of the Units.

	4.	 	Closing.  The sale of the Units will be completed at the Vancouver offices of the
Corporation’s counsel at 9:00 a.m. (Vancouver time) or such other time as the Corporation may
determine (the “Closing Time”) on October 6, 2006 or such other date or dates as the
Corporation may determine (the “Closing Date”) provided that the Closing Date will occur on or
before November 2, 2006 (the “Termination Date”). Prior to the Closing Time, the Subscriber
shall deliver to the Corporation’s counsel this Subscription Agreement, duly completed, and
the aggregate Subscription Price of the Units subscribed for hereby. The Corporation will
deliver the certificates representing the Common Shares and Warrants subscribed for hereby to
the Subscriber at the address of the Subscriber set out on the cover page of this Subscription
Agreement on or before the day that is five (5) business days from the Closing Date. If the
Closing Date does not occur on or before the Termination Date, then the Corporation will
deliver the aggregate Subscription Price of the Units subscribed for hereby, without interest
thereon, to the Subscriber at the Subscriber’s Address on the cover page of this Subscription
Agreement on or before the tenth business day following the Termination Date. The Offering is
conditional upon the Corporation obtaining conditional approval from the Toronto Stock
Exchange (the “Exchange”) and the Nasdaq Small Cap Market for the Offering.
	 
	5.	 	Delivery of Documentation and Payment of Subscription Price.  In order to subscribe
for the Units indicated in this Subscription Agreement, the Subscriber shall deliver to
McCarthy Tétrault LLP, 777 Dunsmuir Street, Suite 1300, Vancouver, British Columbia, Canada
V7Y 1K2 Attention: Michael Urbani, no later than 4:00 p.m. (Vancouver time) on the day that is
two (2) business days prior to the Closing Date:

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	 	(a)	 	this completed and duly executed Subscription Agreement (including Annex I to
Schedule A and Annex II to Schedule A, hereto, as applicable);
	 
	 	(b)	 	such other documents as may be required by applicable securities legislation,
policy statements and orders and the Exchange to permit the issue and sale of the Units
pursuant to this Subscription Agreement; and
	 
	 	(c)	 	a certified cheque, bank draft or wire transfer to the account set out below
payable to McCarthy Tétrault LLP, in trust, as counsel to the Corporation, for the
aggregate Subscription Price of the Units subscribed for hereby unless alternative
arrangements satisfactory to the Corporation and the Subscriber for payment of the
aggregate Subscription Price have been made.

	 	 	 	 	 
	Wire Transfer Account	 	 
	HSBC Bank Canada
	 	 	 	 
	Account No.

	 	266944-090
	Transit No.

	 	10020
	Routing No.

	 	021001088
	Swift No.

	 	HKBC CATT

	 	 	Such funds shall be held in trust and may only be released to the Corporation upon final
approval by the Exchange of the private placement contemplated hereby and the receipt of all
other required regulatory approvals. In the event that such approvals are not received by
the Termination Date, such funds shall forthwith be returned to the Subscriber, at the
address set forth on the cover page of this Subscription Agreement, without interest
thereon, to the Subscriber at the Subscriber’s Address on the cover page of this
Subscription Agreement on or before the tenth business day following the Termination Date.
	 
	6.	 	Accuracy.  The Subscriber acknowledges that it has carefully read this Subscription
Agreement, and each of the representations and warranties set forth herein will be true and
correct both as of the time of execution of this Subscription Agreement and as of the date of
acceptance hereof (if accepted) by the Corporation and time of issuance of the Units
subscribed for.
	 
	7.	 	Representations, Warranties and Covenants of the Corporation.  The Corporation
represents and warrants to the Subscriber, and acknowledges that the Subscriber is relying
upon such representations and warranties, that:

	 	(a)	 	the Corporation has the full corporate power and authority to execute and
deliver this Subscription Agreement and to issue the Units;
	 
	 	(b)	 	this Subscription Agreement constitutes a binding obligation of the Corporation
enforceable in accordance with its terms;
	 
	 	(c)	 	the execution and delivery of, and the performance of the terms of, this
Subscription Agreement by the Corporation, including the issue of the Units pursuant
hereto does not and will not constitute a breach of or default under the constating
documents of the Corporation or any law, regulation, order or ruling applicable to the
Corporation or any agreement, contract or indenture to which the Corporation is a party
or by which it is bound;

	8.	 	Survival of Representations, etc.:  The representations, warranties and covenants of
the Subscriber herein are made by the Subscriber with the knowledge and intent that they are
being and will be relied upon by the Corporation in connection with the transactions
contemplated hereby, including for purposes of determining the suitability of the Subscriber
as a purchaser of Units and the availability of prospectus exemptions in connection with the
offering and sale to the Subscriber or the beneficial Subscriber, as the case may be, of the
Units, and the Subscriber hereby agrees to indemnify the Corporation and each of its
directors, officers, employees, agents and control persons against all losses, claims, costs,
expenses, damages and liabilities which any of them may suffer or incur caused or arising from
any inaccuracy therein or breach thereof. The Subscriber hereby undertakes to notify the
Corporation (at the address of the Corporation set forth above) immediately of any

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	 	 	change in any representation, warranty or covenant set forth herein or any other information
set forth herein relating to the Subscriber that arises prior to the Closing Time. The
representations, warranties and covenants contained herein shall survive the closing of the
transactions contemplated hereby.
	 
	9.	 	Headings:  The division of this Subscription Agreement into paragraphs and the
insertion of headings are for convenience of reference only and shall not effect the
construction or interpretation of this Subscription Agreement. The terms “hereof”,
“hereunder” and similar expressions refer to this Subscription Agreement and not to any
particular paragraph or any portion hereof and include any agreement supplemental hereto.
Unless something in the subject matter or context is inconsistent therewith, references herein
to sections, paragraphs and subparagraphs are to sections, paragraphs and subparagraphs of
this Subscription Agreement.
	 
	10.	 	Extended Meanings:  In this Subscription Agreement words importing the singular
number only include the plural and vice versa, words importing any gender include all genders
and words importing persons include individuals, partnerships, associations, trusts,
unincorporated associations and corporations.
	 
	11.	 	Costs and Expenses:  All costs and expenses (including, without limitation, the fees
and disbursements of legal counsel) incurred in connection with this Subscription Agreement
and the transactions herein contemplated shall be paid and borne by the party incurring such
costs and expenses.
	 
	12.	 	Counterparts:  This Subscription Agreement may be executed in two or more
counterparts, each of which shall be deemed to be an original and all of which together shall
constitute one and the same Subscription Agreement. Counterparts may be executed either in
original or faxed form and the parties adopt any signature received by a receiving fax machine
as original signatures of the parties.
	 
	13.	 	Currency:  Unless otherwise indicated, all references to currency herein are to
lawful money of Canada.
	 
	14.	 	Schedules:  The schedules attached hereto are incorporated by reference and deemed to
be part hereof.
	 
	15.	 	Further Assurances:  Each of the parties hereto will from time to time execute and
deliver all such further documents and instruments and do all acts and things as the other
party may, either before or after the closing of the transactions contemplated hereby,
reasonably require to effectively carry out or better evidence or perfect the full intent and
meaning of this Subscription Agreement.
	 
	16.	 	Time of the Essence:  Time shall be of the essence of this Subscription Agreement.
	 
	17.	 	Benefit of the Agreement:  This Subscription Agreement will enure to the benefit of
and be binding upon the respective heirs, executors, administrators, successors and permitted
assigns of the parties hereto.
	 
	18.	 	Entire Agreement:  This Subscription Agreement constitutes the entire agreement
between the parties hereto with respect to the subject matter hereof and cancels and
supersedes any prior understandings and agreements between the parties with respect thereto.
There are no representations, warranties, terms, conditions, undertakings or collateral
agreements, expressed, implied or statutory, between the parties hereto other than as
expressly set forth in this Subscription Agreement.
	 
	19.	 	Amendments and Waivers:  No amendment to this Subscription Agreement will be valid or
binding unless set forth in writing and duly executed by the parties hereto. No waiver of any
breach of any provision of this Subscription Agreement will be effective or binding unless
made in writing and signed by the party purporting to give the same and, unless otherwise
provided, will be limited to the specific breach waived.
	 
	20.	 	Assignment:  The terms of this Subscription Agreement shall be binding upon and enure
to the benefit of the Subscriber and its respective heirs, executors, administrators,
successors and assigns, provided that, except for the assignment by the Subscriber who is
acting as nominee or agent to the beneficial owner and as otherwise herein provided, this
Subscription Agreement may not be assigned by either party without the prior written consent
of the other party.

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	21.	 	Governing Law:  This Subscription Agreement is governed by and shall be construed in
accordance with the laws of the Province of British Columbia and the laws of Canada
applicable therein.
	 
	22.	 	Attornment:  For the purpose of all legal proceedings this Subscription Agreement
will be deemed to have been performed in British Columbia and the Courts of British Columbia
will have jurisdiction to entertain any action arising under this Subscription Agreement. The
parties hereto each hereby attorns to the jurisdiction of the Courts of British Columbia.
	 
	23.	 	Facsimiled Subscription Agreements:  The Corporation shall be entitled to rely on
delivery by facsimile of an executed copy of this Subscription Agreement, and acceptance by
the Corporation of such facsimile copy shall be legally effective to create a valid and
binding agreement between the Subscriber and the Corporation in accordance with the terms
hereof.
	 
	24.	 	Language:  The parties hereby request that this Subscription Agreement and any
related documents be drafted only in the English language. Les parties demandent par les
présentes que la présente souscription ainsi que tous les documents y afférents soient rédiges
en langue anglaise seulement.
	 
	25.	 	Personal Information:  If an individual, the Subscriber hereby consents to the
disclosure of information regarding such individual by the Corporation to the Exchange, and
the collection, use and disclosure of such information by the Exchange, in each case to the
extent required by, and in accordance with, the rules of the Exchange as in effect from time
to time.

8

 

ACCEPTANCE

The undersigned hereby accepts the above subscription as of this _____ day of _______________, 2006.

	 	 	 	 	 
	 	 
 
SPECTRUM SIGNAL PROCESSING INC.

 

 	 
	 	By:  	 	 
	 	 	Signature 	 
	 	 	Name: 	 
	 

9

 

SCHEDULE A

SUBSCRIBER QUALIFICATIONS, REPRESENTATIONS, WARRANTIES AND COVENANTS

     By executing this Subscription Agreement, the Subscriber represents, warrants and covenants
(on its own behalf or, if applicable, on behalf of those for whom the Subscriber is contracting
hereunder) to and in favour of the Corporation (which representations, warranties and covenants
will be true and correct both as of the execution of this Subscription Agreement by the Subscriber
and as of the Closing Time and will survive the closing of the purchase of the Units) and
acknowledges that the Corporation and its counsel are relying thereon that:

	 	 	ALL SUBSCRIBERS

	 	(a)	 	either (i) the Subscriber is purchasing the Units as principal for its own
account and not for the benefit of any other person, and not with a view to the resale
or distribution of all or any of the Units and the Subscriber complies with paragraph
(a) or (a) below by virtue of the place of residence or by virtue of its purchase
hereunder otherwise being subject to the applicable securities legislation of such
jurisdiction; or (ii) if the Subscriber is acting as agent or trustee for one or more
beneficial purchasers whose identity is disclosed or undisclosed or identified by
account number only, each beneficial purchaser is purchasing as principal for its own
account and not for the benefit of any other person, and not with a view to the resale
or distribution of all or any of the Units, and each beneficial purchaser complies with
paragraph (a) or (a) below by virtue of its place of residence or by virtue of its
purchase hereunder otherwise being subject to the applicable securities legislation of
such jurisdiction; or (iii) the Subscriber is deemed under the securities laws of the
jurisdiction of its place of residence and the securities laws of each jurisdiction
applicable to its purchase hereunder to be purchasing as principal, by virtue of the
fact that the Subscriber complies with one or more of the following clauses as are
applicable to it:

	 	(i)	 	the Subscriber, if it is resident in, or its purchase hereunder
is otherwise subject to the applicable securities legislation of British
Columbia, Alberta, Saskatchewan, Manitoba, Newfoundland and Labrador, Nova
Scotia, Prince Edward Island, Northwest Territory or Nunavut is

	 	A.	 	a trust company or trust corporation registered
or authorized to carry on business under the Trust and Loan Companies
Act (Canada) or under comparable legislation in a province or territory
of Canada other than a trust company or trust corporation registered
under the laws of Prince Edward Island that is not registered under the
Trust and Loan Companies Act (Canada) or under comparable legislation
in another province or territory of Canada) or a country other than
Canada or a political subdivision of a country other than Canada,
trading as a trustee or agent on behalf of a “fully managed account”
(as defined in Annex I to Schedule A); or
	 
	 	B.	 	a person or company trading as agent on behalf
of a fully managed account if that person or company is registered or
authorized to carry on business under the securities legislation of a
province or territory of Canada or a country other than Canada or a
political subdivision of a country other than Canada as a portfolio
manager or under an equivalent category of advisor or is exempt from
registration as a portfolio manager or the equivalent category of
advisor; and

	 	(ii)	 	the Subscriber, if it is resident in, or its purchase hereunder
is otherwise subject to the applicable securities legislation of Québec, is a
trust company licensed under the Trust Companies and Savings Companies Act
(Québec), an insurance company holding a license under the Act respecting
Insurance (Québec) or a dealer or adviser appropriately registered under the
Securities Act (Québec) and is purchasing the Units as trustee or as agent for
the portfolio of a third person managed solely by the Subscriber; AND

10

 

	 	 	SUBSCRIBERS RESIDENT IN BRITISH COLUMBIA, ALBERTA, SASKATCHEWAN, MANITOBA, ONTARIO, QUEBEC,
NEWFOUNDLAND AND LABRADOR, NOVA SCOTIA, PRINCE EDWARD ISLAND, NORTHWEST TERRITORIES OR
NUNAVUT

	 	(a)	 	if the Subscriber is a resident of British Columbia, Alberta, Saskatchewan,
Manitoba, Ontario, Québec, Newfoundland and Labrador, Nova Scotia, Prince Edward
Island, Northwest Territories, Nunavut or an International Jurisdiction (defined below)
then the Subscriber or beneficial purchaser, as the case may be, is either:

	 	(i)	 	an “accredited investor” as defined in National Instrument
45-106 — Prospectus and Registration Exemptions (“NI 45-106”) such that one or
more of the categories set forth in Annex I to this Schedule A correctly and in
all respects describes it, and the Subscriber has so indicated by checking the
box opposite each category on such Annex I which so describes it or the
beneficial purchaser, as applicable, and the Subscriber acknowledges that by
signing this Subscription Agreement it is certifying that the statements made
by checking the appropriate accredited investor categories are true and correct
and it was not created or formed or used solely for the purpose of purchasing
or holding the Units as an “accredited investor” as described in paragraph (m)
of the definition of “accredited investor” as set forth in NI 45-106; OR

	 	(ii)	 	a person that is permitted to subscribe for common shares in
the capital of the Corporation pursuant to the Minimum Amount Investment
Exemption under Section 2.10 of NI 45-106 such that the category set forth at
Annex II to this Schedule A correctly and in all respects describes it, and the
Subscriber has so indicated by initialling the box on such Annex II, and the
Subscriber acknowledges that by signing this Subscription Agreement and by
initialling the box on such Annex II it is certifying that the statements made
in respect of the Minimum Amount Investment Exemption are true and correct; OR

	 	 	SUBSCRIBERS RESIDENT IN AN INTERNATIONAL JURISDICTION

	 	(a)	 	if the Subscriber is resident outside of Canada and the United States, then it
is:

	 	(i)	 	an “accredited investor” as defined in National Instrument
45-106 — Prospectus and Registration Exemptions (“NI 45-106”) such that one or
more of the categories set forth in Annex I to this Schedule A correctly and in
all respects describes it, and the Subscriber has so indicated by checking the
box opposite each category on such Annex I which so describes it or the
beneficial purchaser, as applicable, and the Subscriber acknowledges that by
signing this Subscription Agreement it is certifying that the statements made
by checking the appropriate accredited investor categories are true and correct
and it was not created or formed or used solely for the purpose of purchasing
or holding the Units as an “accredited investor” as described in paragraph (m)
of the definition of “accredited investor” as set forth in NI 45-106; OR
	 
	 	(ii)	 	a person that is permitted to subscribe for common shares in
the capital of the Corporation pursuant to the Minimum Amount Investment
Exemption under Section 2.10 of NI 45-106 such that the category set forth at
Annex II to this Schedule A correctly and in all respects describes it, and the
Subscriber has so indicated by initialling the box on such Annex II, and the
Subscriber acknowledges that by signing this Subscription Agreement and by
initialling the box on such Annex II it is certifying that the statements made
in respect of the Minimum Amount Investment Exemption are true and correct; AND
	 
	 	(iii)	 	the Subscriber is knowledgeable of, or has been independently
advised as to the applicable securities laws of the securities regulatory
authorities (the “Authorities”) having application in the jurisdiction in which
the Subscriber is resident (the “International Jurisdiction”) which would apply
to the acquisition of the Units, if any; AND

11

 

	 	(iv)	 	the Subscriber is purchasing the Units pursuant to exemptions
from the prospectus and registration requirements under the applicable
securities laws of the Authorities in the International Jurisdiction or, if
such is not applicable, the Subscriber is permitted to purchase the Units under
the applicable securities laws of the Authorities in the International
Jurisdiction without the need to rely on any exemption; AND
	 
	 	(v)	 	the applicable laws of the Authorities in the International
Jurisdiction do not require the Corporation to make any filings or seek any
approvals of any nature whatsoever from any Authority of any kind whatsoever in
the International Jurisdiction in connection with the issue and sale or resale
of the Units.

12

 

ANNEX I to SCHEDULE A

To be completed by all Subscribers that are an Accredited Investor under NI 45-106

The Subscriber and any beneficial subscriber are each a resident of or otherwise subject to the
securities legislation of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec,
Newfoundland and Labrador, Nova Scotia, Prince Edward Island, Northwest Territories or Nunavut or
an International Jurisdiction and each is an “accredited investor”, as such term is defined in
section 1.1 of NI 45-106, and the Subscriber and any beneficial subscriber, as applicable, falls
within one or more of the following categories (please check one or more, as applicable):

	o    (a)	 	a Canadian financial institution, or a Schedule III bank;
	 
	o    (b)	 	the Business Development Bank of Canada incorporated under the Business Development Bank of Canada Act (Canada);
	 
	o    (c)	 	a subsidiary of any person referred to in paragraphs (a) or (b), if the person owns all of the
voting securities of the subsidiary, except the voting securities required by law to be owned by
directors of that subsidiary;
	 
	o    (d)	 	a person registered under the securities legislation of a jurisdiction of Canada as an adviser
or dealer, other than a person registered solely as a limited market dealer under one or both of
the Securities Act (Ontario) or the Securities Act (Newfoundland and Labrador);
	 
	o    (e)	 	an individual registered or formerly registered under the securities legislation of a
jurisdiction of Canada as a representative of a person referred to in paragraph (d);
	 
	o    (f)	 	the Government of Canada or a jurisdiction of Canada, or any crown corporation, agency or
wholly-owned entity of the Government of Canada or a jurisdiction of Canada;
	 
	o    (g)	 	a municipality, public board or commission in Canada and a metropolitan community, school
board, the Comité de gestion de la taxe scolaire de l’île de Montréal or an intermunicipal
management board in Québec;
	 
	o    (h)	 	any national, federal, state, provincial, territorial or municipal government of or in any
foreign jurisdiction, or any agency of that government;
	 
	o    (i)	 	a pension fund that is regulated by either the Office of the Superintendent of Financial
Institutions (Canada) or a pension commission or similar regulatory authority of a jurisdiction of
Canada;
	 
	o    (j)	 	an individual who, either alone or with a spouse, beneficially owns, directly or indirectly,
financial assets having an aggregate realizable value that before taxes, but net of any related
liabilities, exceeds $1,000,000;
	 
	o    (k)	 	an individual whose net income before taxes exceeded $200,000 in each of the 2 most recent
calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 in
each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that
net income level in the current calendar year;
	 
	o    (l)	 	an individual who, either alone or with a spouse, has net assets of at least $5,000,000;
	 
	o    (m)	 	a person, other than an individual or investment fund, that has net assets of at least
$5,000,000 as shown on its most recently prepared financial statements;
	 
	o    (n)	 	an investment fund that distributes or has distributed its securities only to

	 	(i)	 	a person that is or was an accredited investor at the time of the distribution,

1

 

	 	(ii)	 	a person that acquires or acquired securities in the circumstances referred to in sections 2.10 [Minimum amount investment], and 2.19 [Additional investment in investment funds] of NI
45-106; or
	 
	 	(iii)	 	a person described in paragraph (i) or (ii) that acquires or acquired securities under section 2.18 [Investment fund reinvestment] of NI 45-106;

	o    (o)	 	an investment fund that distributes or has distributed securities under a prospectus in a
jurisdiction of Canada for which the regulator or, in Québec, the securities regulatory authority,
has issued a receipt;
	 
	o    (p)	 	a trust company or trust corporation registered or authorized to carry on business under the
Trust and Loan Companies Act (Canada) or under comparable legislation in a jurisdiction of Canada
or a foreign jurisdiction, acting on behalf of a fully managed account managed by the trust company
or trust corporation, as the case may be;
	 
	o    (q)	 	a person acting on behalf of a fully managed account managed by that person, if that person

	 	(i)	 	is registered or authorized to carry on business as an adviser or the equivalent under the
securities legislation of a jurisdiction of Canada or a foreign jurisdiction, and
	 
	 	(ii)	 	in Ontario, is purchasing a security that is not a security of an investment fund;

	o    (r)	 	a registered charity under the Income Tax Act (Canada) that, in regard to the trade, has
obtained advice from an eligibility adviser or an adviser registered under the securities
legislation of the jurisdiction of the registered charity to give advice on the securities being
traded;
	 
	o    (s)	 	an entity organized in a foreign jurisdiction that is analogous to any of the entities referred
to in paragraphs (a) to (d) or paragraph (i) in form and function;
	 
	o    (t)	 	a person in respect of which all of the owners of interests, direct, indirect or beneficial,
except the voting securities required by law to be owned by directors, are persons that are
accredited investors;
	 
	o    (u)	 	an investment fund that is advised by a person registered as an adviser or a person that is
exempt from registration as an adviser; or
	 
	o    (v)	 	a person that is recognized or designated by the securities regulatory authority or, except in
Ontario and Québec, the regulator as

	 	(i)	 	an accredited investor, or
	 
	 	(ii)	 	an exempt purchaser in Alberta or British Columbia after NI 45-106 comes into force.

For the purposes of this Annex II, the following definitions are included for convenience:

	 	 	“bank” means a bank named in Schedule I or II of the Bank Act (Canada);
	 
	 	 	“Canadian financial institution” means

	 	(a)	 	an association governed by the Cooperative Credit Associations Act (Canada) or
a central cooperative credit society for which an order has been made under section
473(1) of that Act, or
	 
	 	(b)	 	a bank, loan corporation, trust company, trust corporation, insurance company,
treasury branch, credit union, caisse populaire, financial services cooperative, or
league that, in each case, is authorized by an enactment of Canada or a jurisdiction of
Canada to carry on business in Canada or a jurisdiction of Canada;

2

 

	 	 	“director” means (a) a member of the board of directors of a company or an individual who
performs similar functions for a company, and (b) with respect to a person that is not a
company, an individual who performs functions similar to those of a director of a company;
	 
	 	 	“eligibility advisor” means

	 	(a)	 	a person that is registered as an investment dealer or in an equivalent
category of registration under the securities legislation of the jurisdiction of a
purchaser and authorized to give advice with respect to the type of security being
distributed, and
	 
	 	(b)	 	in Saskatchewan or Manitoba, also means a lawyer who is a practicing member in
good standing with a law society of a jurisdiction of Canada or a public accountant who
is a member in good standing of an institute or association of chartered accountants,
certified general accountants or certified management accountants in a jurisdiction of
Canada provided that the lawyer or public accountant must not
	 
	 	(c)	 	have a professional, business or personal relationship with the issuer, or any
of its directors, executive officers, founders, or control persons, and
	 
	 	(d)	 	have acted for or been retained personally or otherwise as an employee,
executive officer, director, associate or partner of a person that has acted for or
been retained by the issuer or any of its directors, executive officers, founders or
control persons within the previous 12 months;

	 	 	“financial assets” means

	 	(a)	 	cash,
	 
	 	(b)	 	securities, or
	 
	 	(c)	 	a contract of insurance, a deposit or an evidence of a deposit that is not a
security for the purposes of securities legislation;

	 	 	“foreign jurisdiction” means a country other than Canada or a political subdivision of a
country other than Canada;
	 
	 	 	“fully managed account” means an account of a client for which a person makes the investment
decisions if that person has full discretion to trade in securities for the account without
requiring the client’s express consent to a transaction;
	 
	 	 	“investment fund” has the same meaning as in National Instrument 81-106 — Investment Fund
Continuous Disclosure;
	 
	 	 	“jurisdiction” means a province or territory of Canada except when used in the term “foreign
jurisdiction”;
	 
	 	 	“person” includes (a) an individual, (b) a corporation, (c) a partnership, trust, fund and
an association, syndicate, organization or other organized group of persons, whether
incorporated or not, and (d) an individual or other person in that person’s capacity as a
trustee, executor, administrator or personal or other legal representative;
	 
	 	 	“regulator” means

	 	(a)	 	the Executive Director, as defined under section 1 of the Securities Act
(British Columbia); and
	 
	 	(b)	 	such other person as is referred to in Appendix D of National Instrument 14-101
 — Definitions;

3

 

	 	 	“related liabilities” means

	 	(a)	 	liabilities incurred or assumed for the purpose of financing the acquisition or
ownership of financial assets, or
	 
	 	(b)	 	liabilities that are secured by financial assets;

	 	 	“Schedule III bank” means an authorized foreign bank named in Schedule III of the Bank Act
(Canada);
	 
	 	 	“securities legislation” means

	 	(a)	 	for British Columbia, the Securities Act (British Columbia) and the
regulations, rules and forms under such Act and the blanket rulings and orders issued
by the British Columbia Securities Commission; and
	 
	 	(b)	 	for other Canadian jurisdictions, such other statutes and instruments as are
listed in Appendix B of National Instrument 14-101 — Definitions;

	 	 	“securities regulatory authority” means

	 	(a)	 	the British Columbia Securities Commission; and
	 
	 	(b)	 	in respect of any local jurisdiction other than British Columbia, means the
securities commission or similar regulatory authority listed in Appendix C of National
Instrument 14-101 — Definitions;

	 	 	“spouse” means, an individual who,

	 	(a)	 	is married to another individual and is not living separate and apart within
the meaning of the Divorce Act (Canada), from the other individual,
	 
	 	(b)	 	is living with another individual in a marriage-like relationship, including a
marriage-like relationship between individuals of the same gender, or
	 
	 	(c)	 	in Alberta, is an individual referred to in paragraph (a) or (b), or is an
adult interdependent partner within the meaning of the Audit Interdependent
Relationships Act (Alberta);

	 	 	“subsidiary” means an issuer that is controlled directly or indirectly by another issuer and
includes a subsidiary of that subsidiary;
	 
	 	 	“voting security” means a security of an issuer that:

	 	(a)	 	is not a debt security; and
	 
	 	(b)	 	carries a voting right either under all circumstances or under some
circumstances that have occurred and are continuing.

	 	 	An issuer is considered to be affiliated with another issuer if:

	 	(a)	 	one of them is the subsidiary of the other; or
	 
	 	(b)	 	each of them is controlled by the same person.

4

 

	 	 	A person is considered to beneficially own securities that:

	 	(a)	 	for the purposes of Saskatchewan, British Columbia, Nova Scotia, Newfoundland
and Labrador, Prince Edward Island, Northwest Territories and Nunavut securities law,
are beneficially owned by

	 	(i)	 	an issuer controlled by that person; or
	 
	 	(ii)	 	an affiliate of that person or an affiliate of an issuer
controlled by that person;

	 	(b)	 	for the purposes of Alberta securities law, are beneficially owned by

	 	(i)	 	a company controlled by that person or an affiliate of that
company;
	 
	 	(ii)	 	an affiliate of that person; or
	 
	 	(iii)	 	through a trustee, legal representative, agent or other
intermediary of that person.

	 	 	A person (first person) is considered to control another person (second person) if:

	 	(a)	 	the first person, directly or indirectly, beneficially owns or exercises
control or direction over securities of the second person carrying votes which, if
exercised, would entitle the first person to elect a majority of the directors of the
second person, unless that first person holds the voting securities only to secure an
obligation,
	 
	 	(b)	 	the second person is a partnership, other than a limited partnership, and the
first person holds more than 50% of the interests of the partnership, or
	 
	 	(c)	 	the second person is a limited partnership and the general partner of the
limited partnership is the first person.

5

 

ANNEX II to SCHEDULE A

To be completed by all Subscribers relying on the

Minimum Amount Investment Exemption under NI 45–106

The Subscriber may rely on and is relying on the minimum amount investment exemption under NI
45–106 and confirms that: (a) the Subscriber is resident in or is otherwise subject to the laws of
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, Newfoundland and Labrador, Nova
Scotia, Prince Edward Island, Northwest Territories or Nunavut or an International Jurisdiction,
(b) the Subscriber purchases the Units as principal, (c) the acquisition cost to Subscriber is not
less than CDN$150,000 paid in cash at the closing of the purchase of the Units, and (d) the
Subscriber has not been created or used solely to hold securities in reliance on the minimum amount
investment exemption under NI 45–106.

o  (please initial to confirm the foregoing and your reliance on this exemption)

The meanings of the capitalized terms in the Subscription Agreement are imported into this Annex II
and the following definitions are included for convenience:

	 	 	 	“person” includes (a) an individual, (b) a corporation, (c) a partnership, trust, fund
and an association, syndicate, organization or other organized group of persons, whether
incorporated or not, and (d) an individual or other person in that person’s capacity as a
trustee, executor, administrator or personal or other legal representative.

Other terms which are used in this Annex II and not otherwise defined and which are defined in the
Securities Act (British Columbia), the regulations, rules and policy statements made thereunder, as
amended, have the meanings defined in such legislation, regulations, rules and policy statements.

6

 

SCHEDULE B

FORM OF WARRANT CERTIFICATE

7exv4w45

 

Exhibit 4.45

THE WARRANTS REPRESENTED BY THIS CERTIFICATE ARE NOT TRANSFERABLE AND SUCH WARRANTS WILL BE VOID
AND OF NO VALUE UNLESS EXERCISED BY 4:30 P.M. (VANCOUVER TIME) ON OR BEFORE APRIL 13, 2008.

UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE
SECURITY BEFORE FEBRUARY 13, 2007.

WITHOUT THE PRIOR WRITTEN APPROVAL OF THE TORONTO STOCK EXCHANGE AND COMPLIANCE WITH ALL APPLICABLE
SECURITIES LEGISLATION, THE COMMON SHARES ISSUABLE UPON THE EXERCISE OF THIS CERTIFICATE MAY NOT BE
SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF THE TORONTO
STOCK EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL
FEBRUARY 13, 2007.

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE “1933 ACT”). THE HOLDER HEREOF AGREES FOR THE BENEFIT OF THE COMPANY THAT
SUCH SECURITIES MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) OUTSIDE
THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE 1933 ACT OR (C) WITHIN THE
UNITED STATES IN ACCORDANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE 1933 ACT, PROVIDED BY
RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE SECURITIES LAWS IN THE
JURISDICTION IN WHICH SUCH SECURITIES ARE OFFERED, SOLD OR OTHERWISE TRANSFERRED. DELIVERY OF THIS
CERTIFICATE MAY NOT CONSTITUTE GOOD DELIVERY IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES IN
CANADA. PROVIDED THAT THE COMPANY IS A “FOREIGN ISSUER” WITHIN THE MEANING OF REGULATION S AT THE
TIME OF SALE, A NEW CERTIFICATE BEARING NO LEGEND MAY BE OBTAINED FROM COMPUTERSHARE TRUST COMPANY
OF CANADA UPON DELIVERY OF THIS CERTIFICATE AND A DULY EXECUTED DECLARATION, IN A FORM SATISFACTORY
TO THE COMPANY, TO THE EFFECT THAT SUCH SALE IS BEING MADE IN ACCORDANCE WITH RULE 904 OF
REGULATION S UNDER THE 1933 ACT.

COMMON SHARE PURCHASE WARRANT

To Subscribe for and Purchase

Common Shares of

SPECTRUM SIGNAL PROCESSING INC.

			
	No.   l  
	 	Warrant to Purchase   l   Common Shares

     THIS IS TO CERTIFY that, for value received, the receipt and sufficiency of which are hereby
acknowledged,   l   (the “Holder”) is entitled, subject to the terms and conditions hereinafter
set forth, to subscribe for and purchase from the Corporation   l   Common Shares (subject to
adjustment as hereinafter provided) of the Corporation after exercise of this Warrant, by
surrendering to the Corporation at its principal office in the City of Vancouver, Province of
British Columbia, this Warrant, together with a subscription form, duly completed and executed, and
cash or a certified cheque in lawful money of Canada payable to or to the order of the Corporation
for an amount equal to the Exercise Price multiplied by the number of Common Shares then being
purchased, on and subject to the terms and conditions set forth below.

 

 

1.     Definitions.  In this Warrant, including the preamble, unless there is something in the
subject matter or context inconsistent herewith, the following terms shall have the following
meanings, respectively:

“Business Day” means a day other than a Saturday, Sunday or statutory holiday in the City of
Vancouver, British Columbia;

“Common Shares” means the common shares of the Corporation as the same are constituted on the date
hereof, whether now existing or hereafter created, entitling the holder to share in the final
distribution of the property and assets of the Corporation upon liquidation, dissolution or
winding-up after any fixed payments to the holders of any other class or classes of shares, and
includes any shares or securities into which such shares may be converted or changed or which
result from a consolidation, subdivision, reclassification or redesignation of Common Shares or
other such shares or securities which are received as a stock dividend or distribution payable in
Common Shares or other such shares or securities of the Corporation or Common Shares or other such
shares or securities received on the exercise of any option, warrant or other similar right and any
Common Shares or other such shares or securities which may be received by the parties hereto or
bound hereby as a result of an amalgamation, merger, arrangement or other reorganization of or
including the Corporation, and where the context permits, includes any Common Shares issuable
pursuant to any instrument of the Corporation that is convertible into Common Shares or evidences
the right to acquire Common Shares;

“Capital Reorganization” means any reclassification of Common Shares at any time outstanding or a
change of Common Shares into other shares or into other securities, or in case of the
consolidation, amalgamation or merger of the Corporation with or into any other corporation (other
than a consolidation, amalgamation or merger which does not result in a reclassification of the
outstanding Common Shares or a change of the Common Shares into other shares), or in case of any
transfer of the undertaking or assets of the Corporation as an entirety or substantially as an
entirety to another corporation, at any time while this Warrant remains outstanding, in each case,
other than a Qualified Sale;

“Corporation” means SPECTRUM SIGNAL PROCESSING INC., a corporation incorporated under the laws of
Canada;

“Exercise Price” has the meaning ascribed thereto in Section 2;

“Share Reorganization” has the meaning ascribed thereto in subsection 8.2;

“Subscription Form” means the form of subscription annexed hereto as Schedule “A”; and

“Warrant” means this warrant and any deed or instrument supplemental or ancillary hereto and any
schedules hereto or thereto and not to any particular article, section, subsection, clause,
subclause or other portion hereof.

2.     Exercise Price.  This Warrant entitles the Holder to subscribe for and purchase   l  
Common Shares at a price per Common Share of US$0.80 upon exercise of this Warrant, subject to
adjustment as hereinafter provided (the “Exercise Price”).

3.     Expiration of Warrants.  All rights under this Warrant in respect of which the right of
subscription and purchase therein provided for have not been exercised shall cease and this Warrant
shall be wholly void and of no valid or binding effect on the 13th day of April, 2008.

4.     Exercise of Warrants.  The rights represented by this Warrant may be exercised by the
Holder, by the surrender of this Warrant, with the attached Subscription Form duly executed, at the
principal office of the Corporation at One Spectrum Court 200-2700 Production Way, Burnaby, British
Columbia, V5A 4X1 (or such other office or agency of the Corporation as it may designate by notice
in writing to the Holder at the address of the Holder appearing on the books of the Corporation at
any time during the period within which the rights represented by this Warrant may be exercised)
and upon payment to it for the account of the Corporation, by cash or by certified or bank
cashier’s cheque, of the Exercise Price for the number of Common Shares in respect of which this
Warrant is being exercised. The

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Corporation agrees that the shares subscribed for and purchased by exercise of this Warrant shall
be and be deemed to be issued to the Holder as the registered owner of such shares as of the close
of business on the date on which this Warrant shall have been surrendered and payment made for such
shares as aforesaid. Certificates for the shares so purchased shall be delivered to the Holder
within a reasonable time, not exceeding ten (10) Business Days, after the rights represented by
this Warrant shall have been so exercised. Notwithstanding the foregoing, this Warrant may not be
exercised unless there is a valid exemption from the registration requirements of the United States
Securities Act of 1933, as amended (the “Act”) and any applicable state or “blue sky” securities
laws available to the Corporation for the issuance of the Common Shares issuable upon exercise of
this Warrant; provided that the Corporation may request such information from the Holder as may be
necessary or appropriate to determine whether such exemptions from the registration requirements of
the Act and any applicable state or “blue sky” securities laws are available to the Corporation in
connection with such issuance of Common Shares upon exercise of this Warrant.

5.     Not a Shareholder.  Nothing in this certificate or in the holding of a Warrant evidenced
hereby shall be construed as conferring upon the Holder any right or interest whatsoever as a
shareholder of the Corporation.

6.     Legending.  All certificates evidencing Common Shares issued on exercise of the
Warrants, shall bear the following legend:

“UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE
SECURITY BEFORE FEBRUARY 13, 2007.”

“WITHOUT THE PRIOR WRITTEN APPROVAL OF THE TORONTO STOCK EXCHANGE AND COMPLIANCE WITH ALL
APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD,
TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR THROUGH THE FACILITIES OF THE TORONTO STOCK
EXCHANGE OR OTHERWISE IN CANADA OR TO OR FOR THE BENEFIT OF A CANADIAN RESIDENT UNTIL FEBRUARY 13,
2007.”

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE “1933 ACT”). THE HOLDER HEREOF AGREES FOR THE BENEFIT OF THE COMPANY THAT
SUCH SECURITIES MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) OUTSIDE
THE UNITED STATES IN ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE 1933 ACT OR (C) WITHIN THE
UNITED STATES IN ACCORDANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE 1933 ACT, PROVIDED BY
RULE 144 THEREUNDER, IF AVAILABLE, AND IN COMPLIANCE WITH ANY APPLICABLE SECURITIES LAWS IN THE
JURISDICTION IN WHICH SUCH SECURITIES ARE OFFERED, SOLD OR OTHERWISE TRANSFERRED. DELIVERY OF THIS
CERTIFICATE MAY NOT CONSTITUTE GOOD DELIVERY IN SETTLEMENT OF TRANSACTIONS ON STOCK EXCHANGES IN
CANADA. PROVIDED THAT THE COMPANY IS A “FOREIGN ISSUER” WITHIN THE MEANING OF REGULATION S AT THE
TIME OF SALE, A NEW CERTIFICATE BEARING NO LEGEND MAY BE OBTAINED FROM COMPUTERSHARE TRUST COMPANY
OF CANADA UPON DELIVERY OF THIS CERTIFICATE AND A DULY EXECUTED DECLARATION, IN A FORM SATISFACTORY
TO THE COMPANY, TO THE EFFECT THAT SUCH SALE IS BEING MADE IN ACCORDANCE WITH RULE 904 OF
REGULATION S UNDER THE 1933 ACT.”

7.     No Fractional Shares.  Notwithstanding any provisions to the contrary herein, the
Corporation shall not be required to issue any fractional shares in the capital of the Corporation
(unless such fractional shares arise from a consolidation of shares) in connection with any
exercise of the right to convert this Warrant into Common Shares, and in the event that the
calculation of the number of Common Shares issuable upon such exercise results in a number which
includes a fraction of whole shares, then the Corporation shall be required to issue the largest
number of whole shares into which the Warrant is exercisable, and the remainder of such amount
shall be paid in cash at the time of the issuance
of the Common Shares in connection with the exercise of this Warrant in an amount determined by the
Corporation’s board of directors.

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8.     Adjustment of Subscription Rights.

	 	8.1	 	Capital Reorganization.  If at any time while this Warrant remains
outstanding there shall be a Capital Reorganization (other than a Capital
Reorganization that constitutes a Qualified Sale), and the Holder exercises its right
to purchase Common Shares pursuant to this Warrant after the effective date of such
Capital Reorganization, the Holder shall be entitled to receive, and shall accept, in
lieu of the number of Common Shares to which it was theretofore entitled upon such
exercise, the kind and amount of shares and other securities or property which the
Holder would have been entitled to receive as a result of such reclassification,
change, consolidation, amalgamation, merger or transfer if, on the effective date
thereof, the Holder had been the registered holder of the number of Common Shares to
which the Holder was theretofore entitled upon exercise. If necessary, appropriate
adjustments shall be made in the application of the provisions set forth in this
Section 8 with respect to the rights and interests thereafter of the Holder to the end
that the provisions set forth in this Section 8 shall thereafter correspondingly be
made applicable as nearly as may reasonably be possible in relation to any shares or
other securities or property thereafter deliverable upon the exercise of this Warrant.
The subdivision or consolidation of the Common Shares at any time outstanding into a
greater or lesser number of Common Shares shall be deemed not to be a reclassification
of the capital of the Corporation for the purposes of this subsection 8.1.
	 
	 	8.2	 	Share Reorganization.  If at any time while this Warrant remains
outstanding, the Corporation shall (i) subdivide any outstanding Common Shares into a
greater number of Common Shares, or (ii) consolidate any outstanding Common Shares into
a lesser number of Common Shares (any of such events in these clauses (i) and (ii)
being called a “Share Reorganization”), any holder who exercises its right to purchase
Common Shares pursuant to this Warrant after the effective date of such Share
Reorganization shall be entitled to receive, and shall accept, the number of Common
Shares to which it would have been theretofore entitled if, on the effective date of
the Share Reorganization, the Holder had been the registered holder of the number of
Common Shares to which the Holder was theretofore entitled upon exercise of this
Warrant immediately prior to such Share Reorganization.
	 
	 	8.3	 	Rules Regarding Calculation of Adjustment of

Number of Common Shares Purchasable Upon Exercise.

	 	8.3.1	 	In case the Corporation shall take any action affecting the
Common Shares, other than any action described in this Section 8, which would
materially affect the rights of the Holder, the number of Common Shares
purchasable upon exercise of this Warrant shall be adjusted, in consultation
with the Holder.
	 
	 	8.3.2	 	The adjustments provided for in this Section 8 are cumulative
and shall be made successively whenever an event referred to herein shall
occur.
	 
	 	8.3.3	 	In the event of any question arising with respect to the
adjustments provided in this Section 8, such question shall be conclusively
determined by a firm of chartered accountants appointed by the Corporation and
acceptable to the Holder, acting reasonably (who may be the Corporation’s
auditors), such accountants shall have access to all necessary records of the
Corporation and such determination shall be binding upon the Corporation and
the Holder.
	 
	 	8.3.4	 	As a condition precedent to the taking of any action which
would result in an adjustment to the number of Common Shares purchaseable upon
the exercise of this Warrant, the Corporation shall take any corporate action
which may be necessary in order that the

4

 

	 	 	 	securities to which the Holder is entitled on the full exercise of its
exercise right in accordance with the provisions hereof shall be available
for such purpose and that such shares may be validly and legally issued as
fully paid and non-assessable shares.
	 
	 	8.3.5	 	If the issuance of any Common Shares upon the exercise of this
Warrant requires any filing or registration with or approval of any
governmental authority or compliance with any other requirement under any law
before such shares may be validly issued upon such exercise, the Corporation
agrees to take such actions as may be necessary to secure such filing,
registration, approval or compliance, as the case may be; provided that, in the
event that such filing, registration, approval or compliance is required only
by reason of the particular circumstances of or actions taken by any such
person, the Corporation will not be required to take such action. The
foregoing shall not be deemed to include any obligation on the part of the
Corporation to register or qualify the offer or sale of any of its securities
by the Corporation, the Holder or any other person under applicable securities
laws in any jurisdiction.
	 
	 	8.3.6	 	The Corporation shall from time to time immediately after the
occurrence of any event which requires an adjustment in the number of Common
Shares purchaseable upon the exercise of this Warrant as above provided,
deliver a certificate of an officer of the Corporation to the Holder specifying
the nature of the event requiring the adjustment and the amount of the
adjustment thereby necessitated and setting forth in reasonable detail the
method of calculation and the facts upon which such calculation is based.

9.     Exchange of Warrant.  In the event that this Warrant is exercised for less than the
maximum number of Common Shares which may be purchased hereunder, at the time of and as a condition
to the obligation of the Corporation to deliver the certificates representing the Common Shares,
the Holder shall surrender this Warrant and the Corporation shall issue a new warrant to represent
the right to subscribe for the remaining number of Common Shares calculated in accordance with the
provisions thereof.

10.   Mutilated or Missing Warrants.  Upon receipt of evidence satisfactory to the
Corporation of the loss, theft, destruction or mutilation of this Warrant and, in the case of any
such loss, theft or destruction, upon delivery of a bond or indemnity satisfactory to the
Corporation, acting reasonably, or, in the case of any such mutilation, upon surrender or
cancellation of this Warrant, the Corporation will issue to the Holder a new warrant of like tenor,
in lieu of this Warrant, representing the right to subscribe for and purchase the number of Common
Shares which may be subscribed for and purchased hereunder.

11.   Governing Law.  This Warrant shall be governed by and construed in accordance with the
laws of the Province of British Columbia and the laws of Canada applicable therein. The reference
to such laws shall not, by conflict of laws, rules or otherwise, require the application of the law
of any jurisdiction other than the Province of British Columbia. The Corporation hereby
irrevocably attorns to the non-exclusive jurisdiction of the courts of the Province of British
Columbia.

12.   Severability.  If any one or more of the provisions or parts thereof contained in this
Warrant should be or become invalid, illegal or unenforceable in any respect in any jurisdiction,
the remaining provisions or parts thereof contained herein shall be and shall be conclusively
deemed to be, as to such jurisdiction, severable therefrom and:

	 	(a)	 	the validity, legality or enforceability of such remaining provisions or parts
thereof shall not in any way be affected or impaired by the severance of the provisions
or parts thereof severed; and
	 
	 	(b)	 	the invalidity, illegality or unenforceability of any provision or part thereof
contained in this Warrant in any jurisdiction shall not affect or impair such provision
or part thereof or any other provisions of this Warrant in any other jurisdiction.

5

 

13.     Headings.  The headings of the sections, subsections, paragraphs, subparagraphs and
clauses of this Warrant have been inserted for convenience of reference only and do not define,
limit, alter or enlarge the meaning of any provision of this Warrant.

14.     Numbering of Articles, etc.  Unless otherwise stated, a reference herein to a numbered
or lettered section, subsection, paragraph, subparagraph or schedule refers to the section,
subsection, paragraph, subparagraph or schedule bearing that number or letter in this Warrant.

15.     Gender.  Whenever used in this Warrant, words importing the singular number only shall
include the plural, and vice versa, and words importing the masculine gender shall include the
feminine gender.

16.     Day not a Business Day.  In the event that any day on or before which any action is
required to be taken hereunder is not a Business Day, then such action shall be required to be
taken on or before the requisite time on the next succeeding day that is a Business Day. If the
payment of any amount is deferred for any period, then such period shall be included for purposes
of the computation of any interest payable hereunder.

17.     Binding Effect.  This Warrant and all of its provisions shall enure to the benefit of
the Holder and its successors and permitted assigns and shall be binding upon the Corporation and
its successors and permitted assigns. This Warrant is not assignable by the Holder without the
prior written consent of the Corporation.

          IN WITNESS WHEREOF the Corporation has caused this Warrant to be signed by its duly authorized
officers under its corporate seal, and this Warrant to be dated the 12th day of October,
2006.

	 	 	 	 	 
	 	 
SPECTRUM SIGNAL PROCESSING INC.

 

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	 	 

6

 

	 	 	 	 	 

SCHEDULE “A”

SUBSCRIPTION FORM

(To be signed only upon exercise of this Warrant)

     The
undersigned hereby exercises the within Warrant for the purchase of
  l   Common Shares
covered by such Warrant in accordance with the terms and conditions thereof, and herewith makes
payment of the exercise price in full.

     The undersigned hereby certifies to the Corporation that (check one):

	 	o 	 	The undersigned is the original subscriber that purchased this Warrant directly
from the Corporation pursuant to a written subscription agreement, the undersigned
is exercising this Warrant for its own account, and the undersigned is an
“accredited investor” as defined in Rule 501(a) under the United States Securities
Act of 1933, as amended (the “Act”), on the date hereof; or
	 
	 	o 	 	The undersigned is delivering herewith a legal opinion of counsel (which must be
satisfactory to the Corporation) to the effect that the exercise of the Warrants is
not required to be registered under the Act or any state securities laws.

     The terms “United States” and “U.S. Person” are as defined in Regulation S under the Act.

     The Corporation is instructed to issue certificates for such shares in the name of the
undersigned and to deliver the same to the address indicated.

	 	 	 
	 

	Name
	 	 
	 
 
	 	 
	 

	Street and Number

	 	City and Province
	 
 
	 	 
	Date:

	 
	 

	Purchaser’s Signature

[Signature must conform exactly with the name of the registered owner on the form of this Warrant.]

1

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