RAMIUS VALUE AND OPPORTUNITY MASTER FUND LTD c/o RCG Starboard Advisors, LLC
Exhibit 99.3
RAMIUS
VALUE AND OPPORTUNITY MASTER FUND LTD
c/o
RCG Starboard Advisors, LLC
000
Xxxxxxxxx Xxxxxx, 00xx
Xxxxx
Xxx
Xxxx, Xxx Xxxx 00000
December
__, 2009
Dear Mr.
[__________]:
This
letter sets forth our mutual agreement with respect to compensation to be paid
to you for your agreement to be named and serve as a nominee of a group of
investors (the “Ramius Group”), including Ramius Value and Opportunity Master
Fund Ltd, a subsidiary of Ramius LLC, for election as a director of Microtune,
Inc. (the “Company”) at the Company’s 2010 annual meeting of stockholders, or
any other meeting of stockholders held in lieu thereof, and any adjournments,
postponements, reschedulings or continuations thereof (the “Annual
Meeting”).
In
consideration of your agreement to be named and serve as nominee of the Ramius
Group for election as a director of the Company at the Annual Meeting, the
undersigned hereby agrees to pay you (i) $10,000 in cash upon the Ramius Group
submitting a letter to the Company nominating you for election as a director of
the Company (with such payment to be made as soon as reasonably practicable
after you have been nominated) and (ii) $10,000 in cash upon the filing of a
definitive proxy statement with the U.S. Securities and Exchange Commission (the
“Proxy Statement”) relating to a solicitation of proxies in favor of your
election as a director of the Company at the Annual Meeting. You
hereby agree to use such compensation to acquire securities of the Company (the
“Nominee Shares”) at such time that you shall determine, but in any event no
later than 14 days after receipt of such compensation. If elected or
appointed to serve as a director of the Company’s Board, you agree not to sell,
transfer or otherwise dispose of any Nominee Shares within two (2) years of your
election or appointment as a director; provided, however, in the event that the
Company enters into a business combination with a third party, you may sell,
transfer or exchange the Nominee Shares in accordance with the terms of such
business combination.
The
validity, interpretation, construction and performance of this letter agreement
shall be governed by the laws of the State of New York, without regard to its
principles of conflict of laws, and by applicable laws of the United
States. The parties hereto consent to the jurisdiction of the New
York State and United States courts located in New York County, New York for the
resolution of any disputes hereunder and agree that venue shall be proper in any
such court notwithstanding any principle of forum non conveniens and that
service of process on the parties hereto in any proceeding in any such court may
be effected in the manner provided herein for the giving of
notices. The parties hereto waive trial by jury in respect of any
such proceeding.
This
letter agreement shall bind and inure to the benefit of you and your heirs,
successors and assigns.
This
letter agreement may be executed in counterparts, each of which shall be deemed
an original, and all of which, taken together, shall constitute one and the same
instrument.
RAMIUS
VALUE AND OPPORTUNITY MASTER FUND LTD
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By:
RCG Starboard Advisors, LLC, its investment manager
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By:
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Name:
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Title:
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Authorized
Signatory
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Accepted
and Agreed to:
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