Waiver of Selected Entitlements under Registration Rights Agreement between Finestar International Limited and Artesyn Technologies, Inc.

Summary

Finestar International Limited agrees to temporarily waive its right to certain remedies under its Registration Rights Agreement with Artesyn Technologies, Inc. because a required SEC registration statement was not declared effective by April 5, 2002. This waiver is valid until May 15, 2002. If the registration statement is not effective by that date, Finestar regains all rights to remedies, including immediate enforcement of previously waived rights.

EX-10.1 3 dex101.txt WAIVER OF SELECTED ENTITLEMENTS Exhibit 10.1 Finestar International Limited March 26, 2002 Artesyn Technologies, Inc. 7900 Glades Rd. Suite 500 Boca Raton, FL 33434 Attention: Richard J. Thompson, CFO Dear Richard: Reference is made to that certain Registration Rights Agreement, dated January 15, 2002 (the "Agreement"), by and between Artesyn Technologies, Inc., a Florida corporation, and Finestar International Limited, a British Islands corporation (the "Purchaser"). Capitalized terms not otherwise defined herein have the definitions ascribed to such terms in the Agreement. The Purchaser hereby waives any entitlement it has to the Non-exclusive Remedy pursuant to Section 9 of the Agreement as a result of the Shelf Registration Statement not being declared effective by the Securities and Exchange Commissions (the "SEC") by April 5, 2002 (a "Registration Default"), which date is the last date of the 80 day period after the date of the Agreement in which the shelf registration Statement was to be declared effective (the "Waiver"). This Waiver shall be effective until May 15, 2002 (the "Waiver Period"); provided, however, if the SEC does not declare the Shelf Registration Statement effective by May 15, 2002, at such time, any and all remedies for such Registration Default shall be available to the purchaser, including the immediate effectiveness of the Non-exclusive Remedy pursuant to Section 9 of the Agreement. Sincerely, FINESTAR INTERNATIONAL LIMITED By: /s/ Bruce Cheng. --------------------------- Bruce Cheng Director WJS:swp cc: Aaron J. Alter Esq. Adam R. Dolinko, Esq. John D. Vaughn, Esq.