AMENDMENT AND WAIVER March 15, 2011
Exhibit 10.20
March 15, 2011
This Amendment and Waiver (the “Agreement”) is by and among (a) SiGe Semiconductor,
Inc., a Delaware corporation (the “Company”), and (b) the Investors (as defined in the
Investor Rights Agreement (as defined below)) who hold a majority in interest of the Registrable
Securities (as defined in the Investor Rights Agreement) and the Preferred Registrable Securities
(as defined in the Investor Rights Agreement).
WHEREAS, the Company, the undersigned Investors and certain other parties are parties to that
certain Amended and Restated Investor Rights Agreement dated as of May 8, 2007 (the “Investor
Rights Agreement”);
WHEREAS, the Company desires to amend the defined term “Reserved Employee Shares” set forth in
the Investor Rights Agreement by increasing the number of shares of Common Stock (as defined in the
Investor Rights Agreement) that are reserved for issuance under the New Plan (as defined in the
Investor Rights Agreement);
WHEREAS, in connection with such increase to the number of Reserved Employee Shares, the
Company desires to amend the first sentence of Section 12(a)(xvii) of the Investor Rights Agreement
and to obtain a waiver with respect to any non-compliance thereof occurring on or before the date
hereof;
WHEREAS, Sections 12(a) and 16(e)(i) of the Investor Rights Agreement provide that any rights
of holders of Registrable Securities may be waived by an instrument in writing executed and
delivered by the holders of a majority in interest of the Registrable Securities or the holders of
a majority in interest of the Preferred Registrable Securities, respectfully;
WHEREAS, Section 16(e)(ii) of the Investor Rights Agreement provides that the Investor Rights
Agreement may be amended only by the written consent of the Company and holders of a majority in
interest of the Preferred Registrable Securities; and
WHEREAS, the undersigned constitute Investors who hold at least a majority in interest of the
Preferred Registrable Securities.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Company and the undersigned agree as follows:
1. Pursuant to Section 16(e)(ii) of the Investor Rights Agreement, the first sentence of
Section 12(a)(xvii) of the Investor Rights Agreement is hereby deleted in its entirety and replaced
with the following:
“(xvii) Stock Option Grant Limitations. Notwithstanding that the Board of
Directors and the Stockholders have approved the amendment of the Company’s 2002
Stock Plan (the “New Plan”) to provide for the issuance of up to 29,133,104
shares of Common Stock, (including shares of Common Stock subject to outstanding
options under the New Plan and shares of Common Stock previously issued pursuant to
the New Plan) (the “New Plan Amount”), the Company covenants and agrees to
issue options and restricted stock under the New Plan for only that number of shares
as is equal to (a) the New Plan Amount less (b) that number of shares of Common
Stock (the “Old Plans Amount”) purchasable pursuant to options outstanding under the
Company’s stock plans other than
Amendment and Waiver — Page 2
the New Plan (collectively, the “Old Plans”) as the Old Plans Amount may be
reduced from time to time based on the expiration or irrevocable cancellation of
options under the Old Plans.”
2. Pursuant to Sections 12(a) and 16(e)(i) of the Investor Rights Agreement, the undersigned
hereby irrevocably waive, and agree to irrevocably waive, for themselves and all holders of
Registrable Securities, non-compliance of the covenant set forth in the first sentence of Section
12(a)(xvii) of the Investor Rights Agreement with respect to stock option grants made and/or any
issuance of shares of Common Stock upon the exercise of any such options occurring, in each case,
prior to the date hereof.
3. Pursuant to Section 16(e)(ii) of the Investor Rights Agreement, the definition of Reserved
Employee Shares set forth in Section 1 of the Investor Rights Agreement is hereby deleted in its
entirety and replaced with the following:
““Reserved Employee Shares” shall mean shares of Common Stock reserved by
the Company from time to time for (i) the sale of shares of Common Stock to
employees, consultants, officers or directors of the Company or any Subsidiary or
(ii) the issuance and/or exercise of options to purchase Common Stock granted to
employees, consultants, officers or directors of the Company or any Subsidiary, not
to exceed (in the case of clause (i) and (ii) combined) in the aggregate 29,133,104
shares of Common Stock (appropriately adjusted to reflect stock splits, stock
dividends, combinations, reclassifications, recapitalizations or other similar
events occurring after the date of this Agreement), after May 8, 2007 (it being
understood that the foregoing number of shares of Common Stock reserved includes shares of Common Stock subject to outstanding options under the New Plan (as defined
in Section 12(a)(xvii)) and shares of Common Stock previously issued pursuant to the
New Plan, which options or shares may be reissued under the New Plan following the
termination of any unexercised options outstanding or any repurchase of such shares
previously issued pursuant to the New Plan). The foregoing number of Reserved
Employee Shares may be increased by vote or written consent of a majority of the
members of the Board of Directors.”
4. This Agreement shall be effective immediately after its duly execution by Investors who
hold a majority in interest of the Preferred Registrable Securities. This Agreement may be
executed in any number of counterparts, each such counterpart shall be deemed an original
instrument, and all such counterparts together shall constitute but one agreement. This Agreement
may be executed and delivered by facsimile or email (.pdf), and upon such delivery the facsimile or
email (.pdf) signature will be deemed to have the same effect as if the original signature had been
delivered. This Agreement shall be governed by, and construed and enforced in accordance with, the
laws of the State of Delaware, without regard to its principles of conflicts of laws.
[SIGNATURE PAGES FOLLOW]
Signature Page to Amendment and Waiver
IN WITNESS WHEREOF, the Company and the undersigned have executed this Agreement to be
effective as of the date first written above.
COMPANY: SIGE SEMICONDUCTOR, INC. |
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By: | /s/ Xxxxxx Xxxx | |||
Name: | Xxxxxx Xxxx | |||
Title: | CEO | |||
Signature Page to Amendment and Waiver
IN WITNESS WHEREOF, the Company and the undersigned have executed this Agreement to be
effective as of the date first written above.
PRISM VENTURE PARTNERS IV, L.P. |
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By: | Prism Venture Partners IV, L.L.C. its General Partner |
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By: | /s/ Xxxxxx X. Xxxxxx | |||
Managing Director | ||||
TD CAPITAL GROUP LIMITED |
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By: | /s/ X. X. Xxxxxxxxx | |||
Name: | X. X. Xxxxxxxxx | |||
Title: | President | |||
and |
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By: | /s/ X. X. Xxxxxx | |||
Name: | X. X. Xxxxxx | |||
Title: | Managing Director | |||
EMERGING TECHNOLOGY I, L.P. |
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By: | /s/ Xxxxxxx Xxxx | |||
Name: | Xxxxxxx Xxxx | |||
Title: | General Partner | |||
Signature Page to Amendment and Waiver
IN WITNESS WHEREOF, the Company and the undersigned have executed this Agreement to be
effective as of the date first written above.
W CAPITAL PARTNERS II, L.P. |
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By: | /s/ Xxxxxx X. Xxxxxxxxxx | |||
Name: | Xxxxxx X. Xxxxxxxxxx | |||
Title: | Managing Member | |||
RWI VENTURES II, L.P. |
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By: | ||||
Name: | ||||
Title: | ||||
RWI VENTURES I, L.P. |
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By: | /s/ Xxxxxx X. Xxxxx | |||
Name: | Xxxxxx X. Xxxxx | |||
Title: | Managing Member | |||
XXXXX XXXXXXX |
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By: | /s/ Xxxxx Xxxxxxx | |||
Name: | Xxxxx Xxxxxxx | |||
Title: | ||||
XXXXXX XXXXXX |
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By: | ||||
Name: | ||||
Title: | ||||
Signature Page to Amendment and Waiver
IN WITNESS WHEREOF, the Company and the undersigned have executed this Agreement to be
effective as of the date first written above.
XXXX XXXXXXXXX |
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By: | /s/ Xxxx X. Xxxxxxxxx | |||
Name: | Xxxx X. Xxxxxxxxx | |||
Title: | ||||
XXXXX XXXXXX |
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By: | /s/ Xxxxx X. Xxxxxx | |||
Name: | Xxxxx X. Xxxxxx | |||
Title: | ||||
SANIBEL TRUST c/x XXXXXX, XxXXXXXXX & FISH, LLP |
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By: | /s/ Xxxxxx X. Xxxxxx | |||
Name: | Xxxxxx X. Xxxxxx | |||
Title: | Trustee | |||
XXXXX XXXXXXXX |
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By: | ||||
Name: | ||||
Title: | ||||
XXX XXXXXXXXX |
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By: | /s/ Xxx Xxxxxxxxx | |||
Name: | Xxx Xxxxxxxxx | |||
Title: | Director | |||
Signature Page to Amendment and Waiver
IN WITNESS WHEREOF, the Company and the undersigned have executed this Agreement to be
effective as of the date first written above.
XXXX VENTURES L.P. |
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By: | ||||
Name: | ||||
Title: | ||||
XXXX XXXXXXX |
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By: | ||||
Name: | ||||
Title: | ||||
AKOLEO SA |
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By: | ||||
Name: | ||||
Title: | ||||
Signature Page to Amendment and Waiver
IN WITNESS WHEREOF, the Company and the undersigned have executed this Agreement to be
effective as of the date first written above.
THE VENGROWTH INVESTMENT FUND INC. & THE VENGROWTH II INVESTMENT FUND INC. & THE VENGROWTH III INVESTMENT FUND INC. |
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By: | /s/ Xxxxxxx Xxxxx | |||
Name: | Xxxxxxx Xxxxx | |||
Title: | Managing General Partner | |||
and |
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By: | ||||
Name: | ||||
Title: | ||||
GROWTHWORKS CANADIAN FUND LTD. |
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By: | ||||
Name: | ||||
Title: | ||||