EX-10.19 25 y13010exv10w19.htm EX-10.19: AMENDMENT TO RIGISTRATION RIGHTS AGREEMENT AND SHAREHOLDER RIGHTS AGREEMENT EX-10.19
 

Exhibit 10.19

[EXECUTION VERSION]
(SAIFUN SEMICONDUCTORS LTD. LOGO)
SAIFUN SEMICONDUCTORS LTD.
AMENDMENT TO
REGISTRATION RIGHTS AGREEMENT AND SHAREHOLDER RIGHTS
AGREEMENT
     THIS AMENDMENT TO THE REGISTRATION RIGHTS AGREEMENT AND SHAREHOLDER RIGHTS AGREEMENT (the “Amendment”) is made and entered into as of the 29th day of September, 2005 by and among Saifun Semiconductors Ltd. (the “Company”), the Ordinary Shareholders listed on Exhibit A hereto and the Preferred Shareholders listed on Exhibit B.
RECITALS
     WHEREAS, the Company, the Ordinary Shareholders and the Preferred Shareholders have entered into a Registration Rights Agreement (the “Registration Rights Agreement”) and a Shareholder Rights Agreement (the “Shareholder Rights Agreement”), each dated as of October 2, 2000; and
     WHEREAS, the Company, the Ordinary Shareholders and the Preferred Shareholders desire to amend the Registration Rights Agreement and the Shareholder Rights Agreement in accordance with the terms of this Amendment.
AGREEMENT
     NOW THEREFORE, in consideration of the premises and mutual covenants contained in this agreement, the parties hereto hereby agree as follows:
1. Amendment to Registration Rights Agreement. The parties hereby agree that the following amendments shall be made to the Registration Rights Agreement:
     (a) The following language shall be added to the end of Section 1.3:
     “Notwithstanding the foregoing, no security that has been sold through or to a broker or dealer or underwriters in a public distribution or a public distribution shall be considered a Registrable Security.”
     (b) The following language shall be added to the end of Section 2.4:
     “and shall not be required to effect a registration pursuant to this Section 2 if, within the six (6) month period preceding the date of such request, effected a registration pursuant to this Section 2 or pursuant to Section 3 in an offering in which all Holders and other shareholders requesting to sell Registrable Securities were able to do so.”

 

 

Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
     (c) The following language shall be added to the end of Section 4.10:
     “and, with respect to any Holder or other shareholder, at such time as all Registrable Securities of such Holder or other shareholder or other shareholder may be sold publicly without restriction pursuant to Rule 144(k) under the Securities Act.”
     (d) New Sections 12A and 12B shall be added after Section 12:
     “Section 12A. AMENDMENT
     Without derogating from Section 12, any term of this Agreement may be amended or waived only with the written consent of the Company and the Holders of at least eighty percent (80%) of the Registrable Securities then outstanding; provided, however, that in the event that such amendment or waiver adversely affects the obligations or rights of any Holder in a different manner than the other Holders, such amendment or waiver shall also require the written consent of such Holder. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each shareholder of the Company, each holder of any Registrable Securities then outstanding, each future holder of all such Registrable Securities, and the Company.
     Section 12B. GOVERNING LAW
     This Agreement, the rights and obligations of the parties hereto, and any claims or disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of Israel, excluding the conflict of laws provisions thereof.”
2. Amendment to Shareholder Rights Agreement. Immediately following the closing of an IPO (as defined in the Shareholder Rights Agreement), Sections 3.5; 3.6, 3.8 and 4 of the Shareholder Rights Agreement shall terminate.
3. Interpretation
     From and after the date of this Amendment, all references in the Registration Rights Agreement and the Shareholder Rights Agreement shall be deemed to be references to such agreements as amended hereby.
4. Miscellaneous
     (a) Transfer; Successors and Assigns. Except as otherwise expressly provided herein, the terms and conditions of this Amendment shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Amendment, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Amendment, except as expressly provided in this Amendment.
     (b) Governing Law. This Amendment, the rights and obligations of the parties hereto, and any claims or disputes relating thereto, shall be governed by and construed in accordance with the laws of the State of Israel, excluding the conflict of laws provisions thereof.

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Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
     (c) Notices. Any and all notices, requests, consents and other communications hereunder and under the Registration Rights Agreement and the Shareholder Rights Agreement shall be sent in accordance with the Registration Rights Agreement and the Shareholder Rights Agreement.
     (d) Limitation. This Amendment is limited as specified and shall not constitute a modification, acceptance or waiver of any other provision of the Registration Rights Agreement and of the Shareholder Rights Agreement. In the event of an inconsistency or contradiction between the provisions of this Amendment and the provisions of the Registration Rights Agreement and/or the Shareholder Rights Agreement, the provisions of this Amendment shall prevail.
     (e) Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
[Remainder of page intentionally left blank]

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     The parties hereto have executed this Amendment to the Registration Rights Agreement as of the date first written above.
         
    SAIFUN SEMICONDUCTORS LTD.
 
        
 
  By:   /s/ Boaz Eitan
 
       
 
  Name:   Boaz Eitan
 
       
 
  Title:   CEO
 
       

 

 

Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
EXHIBIT A
ORDINARY SHAREHOLDERS
             
Dr. Boaz Eitan   MIRAGE B.V.B.A.
 
            
Signature:
  /s/ Boaz Eitan   By:   /s/ Boaz Eitan
 
           
 
      Name:    
 
           
 
      Title:    
 
           
         
Adi & Gal Ltd.    
 
        
By:
  /s/ Boaz Eitan    
 
 
 
    
Name:
        
 
       
Title:
        
 
       
 
        
Sharon & Yoav Ltd.    
 
        
By:
  /s/ Boaz Eitan    
 
       
Name:
        
 
       
Title:
        
 
       
 
        
Tally Eitan    
 
        
Signature:
  /s/ Tally Eitan    
 
       
 
        
Shikmat Eitan Ltd.    
 
        
By:
  /s/ Boaz Eitan    
 
       
Name:
        
 
       
Title:
        
 
       
 
        
Yonatan & Maya Ltd.    
 
        
By:
  /s/ Boaz Eitan    
 
       
Name:
        
 
       
Title:
        
 
       
 
        
Batya & Yoseph Ltd.    
 
        
By:
  /s/ Boaz Eitan    
 
       
Name:
        
 
       
Title:
        
 
       

 

 

Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
             
Spansion LLC    
 
            
By:
      /s/ [illegible]    
Name:
            
 
           
Title:
            
 
           
 
            
Poalim Capital Markets Ltd.    
 
            
By:
      /s/ Tal Ravid    
 
           
Name:
      Tal Ravid    
Title:
            
 
           
 
            
Zamir Bar-Zion    
 
            
Signature:   /s/ Zamir Bar Zion    
 
           
 
            
Bob Dana    
 
            
Signature:   /s/ Bob Dana    
 
           
 
            
Impel Management & Investments Ltd.    
 
            
By:
      /s/ Eran Goren    
 
           
Name:
       Eran Goren    
 
           
Title:
      CEO    

 

 

Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
             
Yoav Millet    
 
            
Signature:   /s/ Yoav Millet    
 
           
 
            
Ron Niv    
 
            
Signature:   /s/ Ron Niv    
 
           
 
            
Scorpio (BSG) Ltd.    
 
            
By:
      /s/ Jeffrey Levine    
 
           
Name:
      Jeffrey Levine    
Title:
      C.F.O.    
 
            
Doron Latzer    
 
            
Signature:   /s/ Doran Latzer    
 
           
 
            
Zeev Pearl    
 
            
Signature:   /s/ Zeev Pearl    
 
           
 
            
Paulo Pavan    
 
            
Signature:   /s/ Paolo Pavan    
 
           
 
            
Ken Levy    
 
            
Signature:   /s/ Ken Levy    
 
           
 
            
Leon Recanati    
 
            
Signature:   /s/ Leon Recanati    
 
           
 
            
Avshalom Hershcovich    
 
            
Signature:   /s/ Avshalom Hershcovich    
 
           

 

 

Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
             
Argos Capital Appreciation Master Fund, L.P.    
 
            
By:
      /s/ Ephfraim Gildor    
 
           
Name:
      Ephfraim Gildor    
Title:
      President Argos Capital Management, Inc. General Partner    

 

 

Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
EXHIBIT B
PREFERRED SHAREHOLDERS
                     
Gemini Israel II Parallel Fund L.P       Gemini Israel II L.P    
 
                    
By:
  /s/ [illegible]       By:   /s/ [illegible]    
 
                   
Name:
          Name:        
 
                   
Title:
          Title:        
 
                   
 
                    
Advent PGGM Gemini L.P       Gemini Partners Investors L.P    
 
                    
By:
  /s/ [illegible]       By:   /s/ [illegible]    
 
                   
Name:
          Name:        
 
                   
Title:
          Title:        
 
                   
 
                    
Gemini Israel III L.P       Gemini Israel III Overflow Fund L.P    
 
                    
By:
  /s/ [illegible]       By:   /s/ [illegible]    
 
                   
Name:
          Name:        
 
                   
Title:
          Title:        
 
                   
 
                    
Gemini Israel Parallel Fund L.P                
 
                    
By:
  /s/ [illegible]                
 
                   
Name:
                    
 
                   
Title:
                    
 
                   
 
                    
K.T Concord Venture Fund (Cayman) L.P       K.T Concord Venture Fund (Israel) L.P    
 
                    
By:
  /s/ [illegible]       By:   /s/ [illegible]    
 
                   
Name:
          Name:        
 
                   
Title:
          Title:        
 
                   
 
                    
Concord Venture I Annex -B L.P                
 
                    
By:
  /s/ [illegible]                
 
                   
Name:
                    
 
                   
Title:
                    
 
                   

 

 

Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
         
Clal Electronics Industries Ltd.    
 
        
By:
  /s/ [illegible]    
 
       
Name:
        
 
       
Title:
        
 
       
 
        
M-System Flash Disk Pioneers Ltd.    
 
        
By:
  /s/ Ronit Maor    
 
       
Name:
  Ronit Maor    
Title:
  CFO    
 
        
Cipio Partners Holding III GmbH    
 
        
By:
  /s/ Dr. Hans Dieter Koch    
 
       
Name:
  Dr. Hans Dieter Koch    
Title:
  Managing Director    
 
        
Bank of America Strategic Investments Incorporation    
 
        
By:
  /s/ Gary M. Tsuyuki    
 
       
Name:
  Gary M. Tsuyuki    
Title:
  Managing Director    
 
        
Morgan Stanley Dean Witter Equity Funding Inc.    
 
        
By:
  /s/ James T. Keane    
 
       
Name:
  James T. Keane    
Title:
  Vice President    
 
        
Originators Investment Plan L.P    
 
        
By:
  /s/ James T. Keane    
 
       
Name:
  James T. Keane    
Title:
  Vice President    
 
        
Microdent Ltd.    
 
        
By:
  /s/ Dan Goldman    
 
       
Name:
  Dan Goldman    
Title:
        
 
       

 

 

Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
         
Semel Investments Ltd.    
 
        
By:
  /s/ [illegible]    
 
       
Name:
        
 
       
Title:
        
 
       
 
        
Neon Holdings Ltd.    
 
        
By:
  /s/ [illegible]    
 
       
Name:
        
 
       
Title:
        
 
       
 
        
Daniel Younisian    
 
        
Signature:
  /s/ Daniel Younisian    
 
       
 
        
Yohanan Korman    
 
        
Signature:
  /s/ Yohanan Korman    
 
       
 
        
Moris Cohen    
 
        
Signature:
  /s/ Moris Cohen    
 
       
 
        
Taraga Capital Ltd.    
 
        
By:
  /s/ Robert A. Immerman    
 
       
Name:
  Robert A. Immerman    
Title:
  Manager    
 
        
Partners Financial Management Co. Inc.    
 
        
By:
  /s/ Amram Rasiel    
 
       
Name:
  Amram Rasiel    
Title:
  President    
 
        
Mallard Investments L.P    
 
        
By:
  /s/ Timothy F. Wieliger    
 
       
Name:
  Timothy F. Wieliger    
Title:
  President    

 

 

Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
         
Samro N.V.    
 
        
By:
  /s/ [illegible]    
 
       
Name:
        
 
       
Title:
        
 
       
 
        
Deanery Investment Ltd.    
 
        
By:
  /s/ Haim Rabinovich    
 
       
Name:
  Haim Rabinovich    
Title:
  Proxy Holder    
 
        
Afris Technology Investments Ltd.    
 
        
By:
  /s/ Haim Rabinovich    
 
       
Name:
  Haim Rabinovich    
Title:
  Proxy Holder    
 
        
Lorentech Technology Ltd.    
 
        
By:
  /s/ Haim Rabinovich    
 
       
Name:
  Haim Rabinovich    
Title:
  Proxy Holder    
 
        
York Holdings Group Ltd.    
 
        
By:
  /s/ Haim Rabinovich    
 
       
Name:
  Haim Rabinovich    
Title:
  Proxy Holder    
 
        
L.U.D.O (Holdings) Ltd.    
 
        
By:
  /s/ Haim Rabinovich    
 
       
Name:
  Haim Rabinovich    
Title:
  Proxy Holder    
 
        
Moritz Israeli Investments Ltd.    
 
        
By:
  /s/ Haim Rabinovich    
 
       
Name:
  Haim Rabinovich    
Title:
  Proxy Holder    

 

 

Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
         
Novick Israeli Investments Ltd.    
 
        
By:
  /s/ Haim Rabinovich    
 
       
Name:
  Haim Rabinovich    
Title:
  Proxy Holder    
 
        
Virgotech Ltd.    
 
        
By:
  /s/ Shulamit Langer    
 
       
Name:
  Shulamit Langer    
Title:
  Managing Director    
 
        
Alumot Technology Investments Ltd.    
 
        
By:
  /s/ [illegible]    
 
       
Name:
        
 
       
Title:
        
 
       
 
        
Kanfei Zahav Investment Company Ltd.    
 
        
By:
  /s/ Dorit Unn    
 
       
Name:
  Dorit Unn    
Title:
  Manager    
 
        
T.B.S. Group Ltd.    
 
        
By:
  /s/ Haim Rabinovich    
 
       
Name:
  Haim Rabinovich    
Title:
  Proxy Holder    
 
        
Gad Shilo    
 
        
Signature:
  /s/ Gad Shilo    
 
       
 
        
Yehosua Givon    
 
        
Signature:
  /s/ Yehosua Givon    
 
       
 
        
Yesha Primas    
 
        
Signature:
  /s/ Yesha Primas    
 
       

 

 

Saifun Semiconductors Ltd. — Amendment to
Registration Rights Agreement and Shareholder Rights Agreement
         
Amit Snir    
 
        
Signature:
  /s/ Amit Snir