VOTING AGREEMENT

EX-2.3 5 dex23.htm VOTING AGREEMENT 6/9/2003 Voting Agreement 6/9/2003

EXHIBIT 2.3

 

VOTING AGREEMENT

 

AGREEMENT, dated as of June 9, 2003 between Vitesse Semiconductor Corporation, a Delaware corporation (“Buyer”), and Northrop Grumman Space & Mission Systems Corporation, a Delaware corporation, a shareholder of Multilink Technology Corporation (“Shareholder”).

 

WHEREAS, in order to induce Buyer and Margaux Acquisition Corporation to enter into an Agreement and Plan of Merger, dated as of the date hereof (the “Merger Agreement”), with Multilink Technology Corporation, a California corporation (the “Company”), Buyer has requested Shareholder, and Shareholder has agreed, to enter into this Agreement with respect to all shares of Class A and Class B common stock, par value $0.0001 per share, of the Company that Shareholder beneficially now owns or may hereafter acquire prior to the termination of this Agreement (the “Shares”).

 

NOW, THEREFORE, the parties hereto agree as follows:

 

ARTICLE 1

GRANT OF PROXY; VOTING AGREEMENT

 

Section 1.01.    Voting Agreement.    Shareholder hereby agrees to vote all Shares that Shareholder is entitled to vote at the time of any vote to approve and adopt the Merger Agreement, the Merger and all agreements related to the Merger (the “Company Approval Matters”) at any meeting of the Shareholders of the Company, and at any adjournment thereof, at which such Merger Agreement and other related agreements (or any amended version thereof), are submitted for the consideration and vote of the Shareholders of the Company. Each Shareholder hereby agrees that it will vote any Shares in such manner as Buyer may direct with respect to all other proposals submitted to the Company’s Shareholders that relates to the Company Approval Matters, other than calling any meeting of shareholders. Each Shareholder hereby agrees that it will not vote any Shares in favor of the approval of any (i) Acquisition Proposal, (ii) reorganization, recapitalization, liquidation or winding-up of the Company or any other extraordinary transaction involving the Company, or (iii) corporate action the consummation of which would frustrate the purposes, or prevent or delay the consummation, of the transactions contemplated by the Merger Agreement. Notwithstanding any provision of this Agreement to the contrary, nothing in this Agreement shall limit or restrict any Shareholder from acting in such Shareholder’s capacity as a director or officer of the Company (it being understood that this Agreement shall apply to Shareholder solely in Shareholder’s capacity as a Shareholder of the Company).

 

Section 1.02.    Irrevocable Proxy.    Shareholder hereby revokes any and all previous proxies granted with respect to the Shares. By entering into this Agreement, Shareholder hereby grants a proxy appointing Buyer as the Shareholder’s attorney-in-fact and proxy, with full power of substitution, for and in the Shareholder’s name, to vote, express, consent or dissent, or otherwise to utilize such voting power in the manner contemplated by Section 1.01 above as Buyer or its proxy or substitute shall, in Buyer’s sole discretion, deem proper with respect to the Shares. The proxy granted by Shareholder pursuant to this Article 1 is irrevocable and is granted in consideration of Buyer entering into this Agreement and the Merger Agreement and incurring certain related fees and expenses. The proxy granted by Shareholder shall be revoked upon termination of this Agreement in accordance with its terms.


ARTICLE 2

REPRESENTATIONS AND WARRANTIES OF SHAREHOLDER

 

Shareholder represents and warrants to Buyer that:

 

Section 2.01.    Corporation Authorization.    If the Shareholder is an entity, the execution, delivery and performance by Shareholder of this Agreement and the consummation by Shareholder of the transactions contemplated hereby are within the corporate powers of Shareholder and have been duly authorized by all necessary corporate action. If the Shareholder is married and the Shares set forth on the signature page hereto opposite such Shareholder’s name constitute community property under applicable laws, this Agreement has been duly authorized, executed and delivered by, and constitutes the valid and binding agreement of, such Shareholder’s spouse. If this Agreement is being executed in a representative or fiduciary capacity, the Person signing this Agreement has full power and authority to enter into and perform this Agreement. This Agreement constitutes a valid and binding Agreement of Shareholder.

 

Section 2.02.    Non-Contravention.    The execution, delivery and performance by Shareholder of this agreement and the consummation of the transactions contemplated hereby do not and will not (i) violate the certificate of incorporation or bylaws of Shareholder, (ii) violate any law, rule, regulation, judgment, injunction, order or decree applicable to Shareholder, (iii) require any consent or other action by any Person under, or constitute a default under, any provision of any agreement or other instrument binding on Shareholder or (iv) result in the imposition of any Lien on any Shares beneficially owned by, such Shareholder.

 

Section 2.03.    Ownership of Shares.    Shareholder is the record and beneficial owner of the Shares, free and clear of any Lien and any other limitation or restriction (including any restriction on the right to vote or otherwise dispose of the Shares). None of the Shares is subject to any voting trust or other agreement or arrangement with respect to the voting of such Shares.

 

Section 2.04.    Total Shares.    Except for the Shares set forth on the signature page hereto, Shareholder does not beneficially own any (i) shares of capital stock or voting securities of the Company, (ii) securities of the Company convertible into or exchangeable for shares of capital stock or voting securities of the Company or (iii) options or other rights to acquire from the Company any capital stock, voting securities or securities convertible into or exchangeable for capital stock or voting securities of the Company.

 

ARTICLE 3

REPRESENTATIONS AND WARRANTIES OF BUYER

 

Buyer represents and warrants to Shareholder:

 

Section 3.01.    Corporation Authorization.    The execution, delivery and performance by Buyer of this Agreement and the consummation by Buyer of the transactions contemplated hereby are within the corporate powers of Buyer and have been duly authorized by all necessary corporate action. This Agreement constitutes a valid and binding agreement of Buyer.

 

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ARTICLE 4

COVENANTS OF SHAREHOLDER

 

Each Shareholder hereby covenants and agrees that:

 

Section 4.01.    No Proxies for or Encumbrances on Shares.    Except pursuant to the terms of this Agreement, Shareholder shall not, without the prior written consent of Buyer, directly or indirectly, (i) grant any proxies or enter into any voting trust or other agreement or arrangement with respect to the voting of any Shares or (ii) acquire, sell, assign, transfer, encumber or otherwise dispose of, or enter into any contract, option or other arrangement or understanding with respect to the direct or indirect acquisition or sale, assignment, transfer, encumbrance or other disposition of, any Shares during the term of this Agreement. Shareholder shall not seek or solicit any such acquisition or sale, assignment, transfer, encumbrance or other disposition or any such contract, option or other arrangement or understanding.

 

Section 4.02.    Conversion.    Shareholder shall not, without the prior written consent of Buyer, convert or elect to convert any shares of Class B common stock of the Company that the Shareholder beneficially now owns or may hereafter acquire prior to the termination of this Agreement into shares of Class A common stock of the Company.

 

ARTICLE 5

MISCELLANEOUS

 

Section 5.01.    Further Assurances.    Buyer and Shareholder will each execute and deliver, or cause to be executed and delivered, all further documents and instruments and use its reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable laws and regulations, to consummate and make effective the transactions contemplated by this Agreement.

 

Section 5.02.    Amendments; Termination.    Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an amendment, by each party to this Agreement or in the case of a waiver, by the party against whom the waiver is to be effective. This Agreement shall terminate upon the termination of the Merger Agreement in accordance with its terms.

 

Section 5.03.    Expenses.    All costs and expenses incurred in connection with this Agreement shall be paid by the party incurring such cost or expense.

 

Section 5.04.    Successors and Assigns.    The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns; provided that no party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without the consent of the other parties hereto, except that Buyer may transfer or assign its rights and obligations to any Affiliate of Buyer.

 

Section 5.05.    Governing Law.    This Agreement shall be construed in accordance with and governed by the laws of the State of Delaware.

 

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Section 5.06.    Counterparts; Effectiveness.    This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when each party hereto shall have received counterparts hereof signed by all of the other parties hereto.

 

Section 5.07.    Severability.    If any term, provision or covenant of this Agreement is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions and covenants of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated.

 

Section 5.08.    Specific Performance.    The parties hereto agree that irreparable damage would occur in the event any provision of this Agreement is not performed in accordance with the terms hereof and that the parties shall be entitled to specific performance of the terms hereof in addition to any other remedy to which they are entitled at law or in equity.

 

Section 5.09.    Capitalized Terms.    Capitalized terms used but not defined herein shall have the respective meanings set forth in the Merger Agreement.

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

 

 

VITESSE SEMICONDUCTOR CORPORATION

By:

 

/s/ Louis R. Tomasetta


    Name: Louis R. Tomasetta
    Title: President and CEO

 

 

NORTHROP GRUMMAN SPACE & MISSION SYSTEMS CORPORATION

By:

 

/s/ Kathleen M. Salmas


    Name: Kathleen M. Salmas
    Title: Secretary

 

Class of Stock


   Shares Owned

Class A

   125,000

Class B

   570,000

 

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