Credit Suisse Investment Banking Pitch Book
CONFIDENTIAL
Preliminary Summary of Transaction Terms (Cont'd)
TERM
Termination
SUMMARY DESCRIPTION
▸ By the mutual written consent of Solar and Parent
▸ By either Solar or Parent if
■
CREDIT FIRST
SUISSE BOSTON
The Merger is not consummated on or before (September 15, 2005], unless the financing
marketing period ends in the period from August 19, 2005 to September 2, 2005, then on ar
before [September 30, 2005) (so long as the failure to consummate the Merger is not due to
a breach by the terminating party)
. The required approval of Solar's stockholders is not obtained
A final and non-appealable governmental order prohibits the consummation of the Merger, or
There is a breach of the representations, warranties or covenants of the other party, which
breach would cause the failure of a condition, and such breach is not, or cannot be, cured
within 30 days of notice
▸ By Parent if Solar's board of directors (a) modifies, changes or withdraws its recommendation of
the Merger, (b) recommends or approves a competing acquisition proposal, (c) within 5 business
days of first announcement of a tender offer for Solar's shares, takes any position on such offer
other than recommending rejection of such offer, or (d) fails to include its recommendation of the
Merger in the proxy statement distributed to Solar's stockholders (each a "board termination act')
▸ By Solar if:
.
.
Solar receives a superior acquisition proposal, so long as (a) Solar gives Parent an
opportunity to match such proposal and (b) Parent fails to match such proposal within five
business days (subject to a 2 business day extension upon certain amendments to the
superior acquisition proposal)
Conditions to the obligations of Parent and Merger Sub to close the Merger have been
satisfied, and the Merger is not consummated on the earlier of (a) the last day of the 15
business day financing marketing period and (b) the third business day after Parent has
obtained the high yield financing; or
Parent fails to waive its right not to close due to a Market MAC within a certain period after
Solar requests that Parent do so
Source: Based on Shearman and Sterling draft as of March 22, 2005
5View entire presentation