FREQUENTLY ASKED QUESTIONS
Published on November 19, 2008
Exhibit
(a)(9)
EMCORE
CORPORATION
OFFER
TO AMEND ELIGIBLE OPTIONS
FREQUENTLY
ASKED QUESTIONS
The
following are answers to some of the questions that you may have about the Offer
to Amend Eligible Options, the related Letter of Transmittal and Stock Option
Amendment and Cash Payment Agreement (together, as each may be amended or
supplemented from time to time, the “Offer”). We
urge you to read carefully the Offer because the information in this summary is
not complete and does not contain all of the information that is important to
you. Capitalized terms used but not defined herein will have the
meanings assigned to them in the Offer to Amend Eligible Options.
When
does the Offer commence?
The Offer
will commence on November 19, 2008.
When
does the Offer expire? Can the Offer be extended, and if so, how will
I be notified if it is extended?
The Offer
will expire on December 17, 2008, at 11:59 p.m., Mountain Time, unless we extend
the Offer.
Although
we do not currently intend to do so, we may, in our discretion, extend the Offer
at any time. If the Offer is extended, we will send you an e-mail or
other communication informing you of the extension no later than 9:00 a.m.,
Mountain Time, on the business day immediately following the previously
scheduled expiration of the Offer.
How
and when do I tender my Eligible Options?
If you
are an Eligible Optionee, then we will send you promptly following the
commencement of the Offer a personalized Letter of Transmittal that contains the
following information with respect to each Eligible Option you
hold:
·
|
the
current exercise price per share in effect for the Eligible
Options;
|
·
|
the
number of shares underlying the Eligible
Options;
|
·
|
the
date of grant of the Eligible Options;
and
|
·
|
the
Fair Market Value per share of our common stock on the date of grant of
the Eligible Options.
|
All of
the options set forth in your personalized Letter of Transmittal will be
Eligible Options. To tender one or more of your Eligible Options for
amendment pursuant to the Offer, you must properly complete and sign your Letter
of Transmittal and timely deliver your Letter of Transmittal and any other
required documents by facsimile, hand delivery, regular mail, overnight courier
or e-mail as follows:
By
Facsimile:
|
(626) 293-3646
|
By
Hand Delivery, Regular Mail or Overnight Courier:
|
EMCORE
Corporation
10420
Research Road SE
Albuquerque,
NM 87123
Attn:
Keith Kosco
|
By
E-mail:
|
Keith_Kosco@EMCORE.com
|
Delivery
of the Letter of Transmittal and other required documents by any other means is
not permitted.
If you have any questions regarding
your Letter of Transmittal, please contact Keith Kosco, Chief Legal Officer and
Corporate Secretary, at (505) 332-5044 or Keith_Kosco@EMCORE.com
We must
receive your properly completed and signed Letter of Transmittal and other
required documents before 11:59 p.m., Mountain Time, on December17,
2008. If we extend the Offer beyond that time, we must receive your
properly completed and signed Letter of Transmittal and other required documents
before the extended Expiration Date of the Offer.
We
will not accept delivery of any Letter of Transmittal after the Expiration
Date. If we do not receive a properly completed and signed Letter of
Transmittal from you prior to the Expiration Date, we will not accept your
Eligible Options for amendment. Those Eligible Options will not be
amended pursuant to the Offer, and no Cash Payment will be paid with respect to
those Eligible Options.
We
reserve the right to reject any or all tenders of Eligible Options that we
determine do not comply with the terms and conditions of the Offer, are not in
proper form or are unlawful to accept. Otherwise, we intend to accept
all Eligible Options that are properly tendered and not validly withdrawn before
the Expiration Date. Subject to our rights to extend, terminate or
amend the Offer, we currently expect that we will accept all properly tendered
and not validly withdrawn Eligible Options upon the expiration of the Offer, and
we will amend those options on the Amendment Date.
May
I withdraw my tender of Eligible Options?
You may
withdraw your tendered Eligible Options at any time before the Expiration Date
of the Offer. If we extend the Offer beyond that time, you may
withdraw your tendered Eligible Options at any time until the extended
Expiration Date of the Offer. To validly withdraw your tendered
Eligible Options, you must deliver to us by facsimile, hand delivery, regular
mail, overnight courier or e-mail a properly completed and signed withdrawal
form with the required information while you still have the right to withdraw
your tendered Eligible Options as follows:
By
Facsimile:
|
(626)
293-3646
|
By
Hand Delivery, Regular Mail or Overnight Courier:
|
EMCORE
Corporation
10420
Research Road SE
Albuquerque,
NM 87123
Attn:
Keith Kosco
|
By
E-mail:
|
Keith_Kosco@EMCORE.com
|
Delivery
of the withdrawal form and other required documents by any other means is not
permitted. To obtain a copy of a withdrawal form, please
contact Keith Kosco, Chief Legal Officer and Corporate Secretary, at
(505) 332-5044 or Keith_Kosco@EMCORE.com.
We must
receive your properly completed and signed withdrawal form and other required
documents before 11:59 p.m., Mountain Time, on December 17, 2008. If
we extend the Offer beyond that time, we must receive your properly completed
and signed withdrawal form and other required documents before the extended
Expiration Date of the Offer. You may not withdraw only a portion of
a tendered Eligible Option. If you choose to withdraw a tendered
Eligible Option, you must withdraw the entire Eligible Option.
You may
not rescind any withdrawal, and any tendered Eligible Option you withdraw will
no longer be deemed tendered for amendment pursuant to the
Offer. However, after you have withdrawn an Eligible Option, you may
retender that Eligible Option before the Expiration Date. If EMCORE
extends the Offer beyond the Expiration Date, you may retender your withdrawn
Eligible Option(s) at any time until the extended Expiration Date of the
Offer. You will not be deemed to have made a valid retender of your
withdrawn Eligible Option(s) unless you deliver, prior to the Expiration Date, a
new Letter of Transmittal in accordance with the tender procedures described
above. The new Letter of Transmittal must be signed and dated after your
original Letter of Transmittal and any withdrawal form you have
submitted. Upon the receipt of such a new, properly completed, signed
and dated Letter of Transmittal, any previously submitted Letter of Transmittal
or withdrawal form received by us prior to the Expiration Date will be
disregarded and will be considered replaced in full by the new Letter of
Transmittal. You will be bound by the last properly submitted Letter
of Transmittal or Withdrawal Form received by us prior to the Expiration
Date.
What
are the components of the Offer?
Amendment to Increase Exercise Price
to Adjusted Exercise Price. If an Eligible Option is
properly tendered and accepted and not validly withdrawn pursuant to the Offer,
the amendment will increase the exercise price per share currently in effect for
the Eligible Option to the Fair Market Value per share of our common stock on
the date of grant of the Eligible Option.
Cash Payment. The
Eligible Optionees whose Eligible Options are amended to increase the exercise
price pursuant to the Offer will become entitled to receive from us the Cash
Payment with respect to those Eligible Options. The amount of the
Cash Payment payable with respect to the Eligible Option that are amended to
increase the exercise price to the Adjusted Exercise Price will be determined by
multiplying (1) the amount by which the Adjusted Exercise Price exceeds the
exercise price per share currently in effect for an Eligible Option by
(2) the number of shares of our common stock purchasable under that
Eligible Option at the Adjusted Exercise Price. The Cash Payment will
be paid on the first regular payroll date after January 1,
2009,. Under applicable IRS regulations, the Cash Payment may not be
made in the same year as the Amendment Date. The Cash Payment, when
made, will be subject to all applicable withholding taxes required to be
withheld by EMCORE.
What
are some of the key dates to remember?
The Offer
will commence on November 19, 2008.
The Offer
will expire at 11:59 pm, Mountain Time, on December 17, 2008 (unless we extend
the Offer).
The
Eligible Options will be amended on December 18, 2008 (unless we extend the
Offer).
The Cash
Payment will be paid on the first regular payroll date after January 1,
2009.
Who
can I talk to if I have questions about the Offer?
For additional information or
assistance, you should contact Keith Kosco, Chief Legal Officer and Corporate
Secretary, at (505) 332-5044 or Keith_Kosco@EMCORE.com.