Seagate 2011 Annual Report Download - page 160

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Exhibit 10.47
SUPPLEMENT NO. 2 dated as of February 14, 2012 (this “ Supplement ”), to the SECOND LIEN U.S. PLEDGE
AGREEMENT dated as of May 1, 2009 (as amended, supplemented or otherwise modified from time to time, the “ Second
Lien U.S. Pledge Agreement ”), among SEAGATE TECHNOLOGY, an exempted limited liability company organized under
the laws of the Cayman Islands (the “ Company ”), each of the other Guarantors of the Notes (each as defined in the Indenture
referred to below) from time to time party thereto (each such Guarantor and the Company are referred to herein individually as
a “ Pledgor ” and collectively as the “ Pledgors ”) and WELLS FARGO BANK, NATIONAL ASSOCIATION, as collateral
agent (in such capacity, the “ Collateral Agent ”) for the Secured Parties (as defined in the Second Lien U.S. Security
Agreement referred to below).
A. Reference is made to (a) the Indenture, dated as of May 1, 2009 (as amended, supplemented or otherwise modified from time to
time, the “ Indenture ”), among Seagate Technology International, an exempted limited liability company organized under the laws of the
Cayman Islands and a Subsidiary (as defined in the Indenture) of the Company (the “ Issuer ”), the Company, the other Guarantors from time to
time party thereto (collectively, the “ Guarantors ”) and Wells Fargo Bank, National Association, as trustee, pursuant to which the Issuer issued
10.00% Senior Secured Second-Priority Notes due 2014, and (b) the Second Lien U.S. Security Agreement, dated as of May 1, 2009 (as
amended, supplemented or otherwise modified from time to time, the “ Second Lien U.S. Security Agreement ”), among the Issuer, the
Company, the other Guarantors from time to time party thereto and the Collateral Agent.
B. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Second Lien
U.S. Pledge Agreement and, if not defined therein, the Indenture.
C. Pursuant to Section 11.01 of the Indenture, any Guarantor that acquires material property (other than Excluded Property) that is not
automatically subject to a perfected security interest under the Security Agreements, shall execute and deliver to the Collateral Agent such
security agreement supplements covering such Collateral.
D. Each of Seagate Technology (US) Holdings, Inc. (“ Seagate Technology (US) Holdings ”) and EVault, Inc. (f/k/a i365, Inc.) (“
EVault ”) are Pledgors and desire to include additional Equity Interests as Pledged Interests under the Second Lien U.S. Security Agreement.
Accordingly, Seagate Technology (US) Holdings, EVault and the Collateral Agent agree as follows:
SECTION 1. Schedule II in the Second Lien U.S. Security Agreement is hereby supplemented by adding the Equity Interests identified
on Schedule A to this Supplement