SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934
(Amendment No. 1)
Filed by the Registrant [ ]
Filed by a Party other than the Registrant [x]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to ss. 240.14a-12
Motorola, Inc.
(Name of Registrant as Specified In Its Charter)
Icahn Partners LP
Icahn Onshore LP
CCI Onshore Corp.
Icahn Partners Master Fund LP
Icahn Partners Master Fund II L.P.
Icahn Partners Master Fund III L.P.
Icahn Offshore LP
CCI Offshore Corp.
High River Limited Partnership
Hopper Investments LLC
Barberry Corp.
Carl C. Icahn
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rule 14a-6(i)(4) and 0-11.
1) Title of each class of securities to which transaction applies:
2) Aggregate number of securities to which transaction applies:
3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which
the filing fee is calculated and state how it was determined):
4) Proposed maximum aggregate value of transaction:
5) Total fee paid:
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
2) Form, Schedule or Registration Statement No.:
3) Filing Party:
4) Date Filed:
2007 ANNUAL MEETING OF STOCKHOLDERS
OF
MOTOROLA, INC.
___________________
PROXY STATEMENT
OF
ICAHN PARTNERS LP,
ICAHN PARTNERS MASTER FUND LP
ICAHN PARTNERS MASTER FUND II L.P.
ICAHN PARTNERS MASTER FUND III L.P.
AND
HIGH RIVER LIMITED PARTNERSHIP
___________________
To Our Fellow Motorola Stockholders:
This Proxy Statement and the accompanying GOLD proxy card are being
furnished to stockholders ("Stockholders") of Motorola, Inc. ("Motorola") in
connection with the solicitation of proxies by Carl C. Icahn and certain of his
affiliates and associates, to be used at the 2007 Annual Meeting (the "Annual
Meeting") of Stockholders of Motorola which is scheduled to be held at 4:00
p.m., local time, on May 7, 2007, at Rubloff Auditorium at The Art Institute of
Chicago, 230 South Columbus Drive, Chicago, Illinois 60603, and at any
adjournments, postponements or continuations thereof. This Proxy Statement and
the GOLD proxy card are first being furnished to Stockholders on or about April
13, 2007.
At the Annual Meeting, the Participants (as hereinafter defined) will seek
to elect to the Board of Directors of Motorola - Carl C.
Icahn (the "Nominee") who has consented, if elected, to serve as a director.
MR. ICAHN URGES STOCKHOLDERS TO VOTE FOR HIM AND THEREBY JOIN HIM IN HIS
EFFORT TO ADD TO THE BOARD AN INDIVIDUAL SELECTED OUTSIDE OF THE NOMINATION
PROCESS UNDER WHICH ALL BOARD MEMBERS ARE NOMINATED BY EXISTING MOTOROLA
DIRECTORS.
The Nominee and each of the other Participants have no interest in
Motorola other than through the beneficial ownership (if any) of shares of
Common Stock, par value $3 per share, of Motorola (the "Shares") or other
securities (if any) of Motorola as disclosed herein.
THE NOMINEE IS COMMITTED TO ACTING IN THE BEST INTEREST OF THE
STOCKHOLDERS OF MOTOROLA. WE URGE YOU TO VOTE YOUR GOLD PROXY CARD FOR CARL C.
ICAHN.
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IMPORTANT
The election of the Nominee requires the affirmative vote of a plurality
of the votes cast, assuming a quorum is present or otherwise represented at the
Annual Meeting. As a result, your vote is extremely important. We urge you to
mark, sign, date and return the enclosed GOLD proxy card to vote FOR the
election of the Nominee.
WE URGE YOU NOT TO SIGN ANY PROXY CARD SENT TO YOU BY MOTOROLA. IF YOU
HAVE ALREADY DONE SO, YOU MAY REVOKE YOUR PROXY BY DELIVERING A LATER-DATED GOLD
PROXY CARD IN THE ENCLOSED POSTAGE-PREPAID ENVELOPE, OR BY VOTING IN PERSON AT
THE ANNUAL MEETING. SEE "VOTING PROCEDURES" AND "PROXY PROCEDURES" BELOW.
If you have any questions or require any assistance in executing your
proxy, please call:
Innisfree M&A Incorporated
Stockholders call toll-free: (877) 825-8772
Banks and Brokers call collect: (212) 750-5833
Only holders of record of Motorola's voting securities as of the close of
business on March 8, 2007 (the "Record Date") are entitled to notice of, and to
attend and to vote at, the Annual Meeting and any adjournments or postponements
thereof. According to the proxy statement of Motorola filed with the Securities
and Exchange Commission ("Motorola's Proxy Statement"), as of the Record Date,
there were outstanding 2,385,724,367 shares of Common Stock, par value $3 per
share, of Motorola (the "Common Stock"). Stockholders of record at the close of
business on the Record Date will be entitled to one vote at the Annual Meeting
for each share of Common Stock of Motorola held on the Record Date.
As of the Record Date, the Participants and their affiliates beneficially
owned an aggregate of 11,700,000 shares of Common Stock, representing
approximately 0.49% of the outstanding shares of Common Stock as of the Record
Date.(1) The Participants and their affiliates intend to vote such shares FOR
the election of the Nominee.
VOTE FOR THE NOMINEE BY RETURNING YOUR SIGNED AND DATED GOLD PROXY TODAY.
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(1) These amounts do not include shares of Common Stock underlying certain
options as described on Appendix I and shares of Common Stock purchased
subsequent to the Record Date.
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Participants in Solicitation of Proxies
In addition to the Nominee (who is Carl C. Icahn), the participants in the
solicitation of proxies (the "Participants") are Icahn Partners LP ("Icahn
Partners"), Icahn Partners Master Fund LP ("Icahn Master"), Icahn Partners
Master Fund II L.P. ("Icahn Master II"), Icahn Partners Master Fund III L.P.
("Icahn Master III"), High River Limited Partnership ("High River"), Mr. Keith
A. Meister, Mr. Vincent J. Intrieri and Mr. David Schechter.
Icahn Partners, Icahn Master, Icahn Master II, Icahn Master III and High
River (collectively, the "Icahn Parties") are entities controlled by Carl C.
Icahn. Keith A. Meister, Vincent J. Intrieri and David Schechter are employees
and/or officers or directors of the Icahn Parties and various other entities
controlled by Mr. Icahn. Each of Keith A. Meister, Vincent J. Intrieri and David
Schechter may also participate in soliciting proxies from Motorola stockholders.
None of Mr. Meister, Mr. Intrieri or Mr. Schechter owns beneficially any
interest in securities of Motorola, and will not receive any special
compensation in connection with such solicitation. In connection with their
employment by Mr. Icahn and his affiliated companies, Messrs. Meister, Intrieri
and Schechter, among other employees, each has a participatory interest in the
profits and fees derived by Mr. Icahn and/or his affiliated entities from Icahn
Partners, Icahn Master II, Icahn Master III and Icahn Master (together, the
"Funds"). Because only a portion of such profit interests are distributed and
because of their other investments in the Funds, each of Mr. Meister and Mr.
Intrieri also has capital accounts in the Funds. In the aggregate: (i) Mr.
Meister's profit interests and capital accounts in the Funds entitle him to less
than 2% of the profits generated by the Funds; (ii) Mr. Intrieri's profit
interests and capital accounts in the Funds entitle him to less than 2% of the
profits generated by the Funds; and (iii) Mr. Schechter's profit interests in
the Funds entitle him to less than 1% of the profits generated by the Funds.
Icahn Partners is a Delaware limited partnership principally engaged in
the business of investing in securities. Icahn Onshore LP ("Icahn Onshore") is a
Delaware limited partnership primarily engaged in the business of acting as the
general partner of Icahn Partners. CCI Onshore Corp. ("CCI Onshore") is a
Delaware corporation primarily engaged in the business of acting as the general
partner of Icahn Onshore. CCI Onshore is wholly owned by Mr. Icahn.
Each of Icahn Master, Icahn Master II and Icahn Master III is a Cayman
Islands exempted limited partnership principally engaged in the business of
investing in securities. Icahn Offshore LP ("Icahn Offshore") is a Delaware
limited partnership primarily engaged in the business of acting as the general
partner of each of Icahn Master, Icahn Master II and Icahn Master III. CCI
Offshore Corp. ("CCI Offshore") is a Delaware corporation primarily engaged in
the business of acting as the general partner of Icahn Offshore. CCI Offshore is
wholly owned by Mr. Icahn.
High River is a Delaware limited partnership principally engaged in the
business of investing in securities. Hopper Investments LLC ("Hopper") is a
Delaware limited liability company that serves as the general partner of High
River. Barberry Corp. ("Barberry") is a Delaware corporation that serves as the
sole member of Hopper. Each of Hopper and Barberry is
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primarily engaged in the business of investing in securities. Barberry is wholly
owned by Mr. Icahn.
The address of each of Icahn Partners, Icahn Onshore, CCI Onshore, Icahn
Offshore, CCI Offshore and Messrs. Icahn, Meister, Intrieri and Schechter is c/o
Icahn Associates Corp., 767 Fifth Avenue, 47th Floor, New York, New York 10153.
The address of each of Icahn Master, Icahn Master II and Icahn Master III is c/o
Walkers SPV Limited, P.O. Box 908GT, 87 Mary Street, George Town, Grand Cayman,
Cayman Islands. The address of each of High River, Hopper and Barberry is White
Plains Plaza, 445 Hamilton Avenue - Suite 1210, White Plains, NY 10601.
Appendix I attached hereto sets forth, as to the Nominee and the other
Participants, all transactions in securities of Motorola effected during the
past two years and their beneficial ownership of securities of Motorola.
With respect to each Participant (including the Nominee), except as set
forth herein or in any of the Appendices attached hereto, (i) such Participant
is not, nor was within the past year, a party to any contract, arrangement or
understanding with any person with respect to any securities of Motorola,
including, but not limited to, joint ventures, loan or option arrangements, puts
or calls, guarantees against loss or guarantees of profit, division of losses or
profits, or the giving or withholding of proxies; and (ii) neither such
Participant nor any of such Participant's associates have any arrangement or
understanding with any person with respect to (A) any future employment by
Motorola or its affiliates or (B) any future transactions to which Motorola or
any of its affiliates will or may be a party.
ELECTION OF DIRECTORS
On January 26, 2007, the Icahn Parties (other than (i) Icahn Master II
which commenced operation on February 1, 2007 and (ii) Icahn Master III which
commenced operation on April 2, 2007) delivered a letter to Motorola, notifying
Motorola that the Icahn Parties nominate and will seek to elect at the Annual
Meeting - Carl C. Icahn as a member of the board of directors of Motorola.
According to Motorola's Proxy Statement, Motorola's Board of Directors of
Motorola (the "Board") intends to nominate eleven candidates for election as
directors at the Annual Meeting. This proxy statement is soliciting proxies to
elect not only Mr. Icahn, but also all of the Motorola nominees other than Mr.
John A. White. This gives stockholders who wish to vote for Mr. Icahn and such
other persons the ability to do so. Mr. White was not selected for any
particular reason. Rather, under applicable proxy rules we are required either
to solicit proxies only for Mr. Icahn, which could result in limiting the
ability of Stockholders to fully exercise their voting rights with respect to
Motorola's nominees, or to solicit for Mr. Icahn and for fewer than all of
Motorola's nominees, which enables a Stockholder who desires to vote for Mr.
Icahn to also vote for those of Motorola's nominees for whom we are soliciting
proxies. Mr. Icahn notes that if he is elected, and if a majority of the other
Board members thereafter determines that it would be desirable that Mr. White
continue as a member of the Board, the
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Board could permit that result by increasing the size of the Board and adding
Mr. White as an additional member.
Background information about the Nominee is set forth below. The Nominee,
if elected, would hold office until the 2008 annual meeting of Stockholders and
until a successor has been duly elected and qualified. The Nominee does not
receive any compensation from any of the Participants or any of their affiliates
in connection with this proxy solicitation. The Nominee has an interest in the
election of directors at the Annual Meeting indirectly through the beneficial
ownership of Shares, as described in Appendix I. The Nominee would not be barred
from being considered independent under New York Stock Exchange Rule 303A.02(b)
and is independent under the applicable standards of New York Stock Exchange and
the independence standards applicable to Motorola under paragraph (a)(1) of Item
407 of Regulation S-K under the Securities Exchange Act of 1934, as amended.
Other than as disclosed in this Proxy Statement, including Appendix I, (i)
the Nominee is not, nor was he within the past year, a party to any contract,
arrangement or understanding with any person with respect to any securities of
Motorola, including, but not limited to, joint ventures, loan or option
arrangements, puts or calls, guarantees against loss or guarantees of profit,
division of losses or profits, or the giving or withholding of proxies; and (ii)
neither the Nominee nor any of his associates have any arrangement or
understanding with any person with respect to (A) any future employment by
Motorola or its affiliates or (B) any future transactions to which Motorola or
any of its affiliates will or may be a party.
CARL C. ICAHN, age 71, has served as chairman of the board and a director
of Starfire Holding Corporation, a privately held holding company, and chairman
of the board and a director of various subsidiaries of Starfire, since 1984.
Through his entities CCI Onshore Corp. and CCI Offshore Corp., Mr. Icahn's
principal occupation is managing private investment funds, including Icahn
Partners, Icahn Master, Icahn Master II and Icahn Master III. Since February
2005, Mr. Icahn has served as a director of CCI Onshore Corp. and CCI Offshore
Corp., which are in the business of managing private investment funds, and from
September 2004 to February 2005, Mr. Icahn served as the sole member of their
predecessors, CCI Onshore LLC and CCI Offshore LLC, respectively. Mr. Icahn was
also chairman of the board and president of Icahn & Co., Inc., a registered
broker-dealer and a member of the National Association of Securities Dealers,
from 1968 to 2005. Since 1994, Mr. Icahn has been the principal beneficial
stockholder of American Railcar Industries, Inc., currently a publicly traded
company that is primarily engaged in the business of manufacturing covered
hopper and tank railcars, and has served as chairman of the board and as a
director of American Railcar Industries, Inc. since 1994. Since November 1990,
Mr. Icahn has been chairman of the board of American Property Investors, Inc.,
the general partner of American Real Estate Partners, L.P., a public limited
partnership controlled by Mr. Icahn that invests in real estate and holds
various other interests, including the interests in its subsidiaries that are
engaged in, among other things, the casino entertainment business and the home
textile business. From October 1998 through May 2004, Mr. Icahn was the
president and a director of Stratosphere Corporation, which operates the
Stratosphere Hotel and Casino. Mr. Icahn has been chairman of the board and a
director of XO Holdings, Inc. since February 2006 and was chairman of the board
and a director of XO Communications, Inc. (XO Holdings' predecessor) from
January 2003 to February 2006. XO Holdings, Inc. is a publicly traded
telecommunications services provider controlled by Mr.
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Icahn. Mr. Icahn has served as a Director of Cadus Corporation, a publicly
traded company engaged in the ownership and licensing of yeast-based drug
discovery technologies since July 1993. In May 2005, Mr. Icahn became a director
of Blockbuster Inc., a publicly traded provider of in-home movie rental and game
entertainment. In September 2006, Mr. Icahn became a director of ImClone Systems
Incorporated, a publicly traded biopharmaceutical company, and since October
2006 has been the chairman of the board of ImClone Systems. Mr. Icahn received
his B.A. from Princeton University.
WE STRONGLY URGE YOU TO VOTE FOR THE ELECTION OF CARL C. ICAHN BY SIGNING,
DATING AND RETURNING THE ENCLOSED GOLD PROXY CARD IN THE POSTAGE PAID ENVELOPE
PROVIDED TO YOU WITH THIS PROXY STATEMENT. IF YOU HAVE SIGNED THE GOLD PROXY
CARD AND NO MARKING IS MADE, YOU WILL BE DEEMED TO HAVE GIVEN A DIRECTION TO
VOTE ALL THE SHARES REPRESENTED BY THE GOLD PROXY CARD FOR THE ELECTION OF MR.
ICAHN.
OTHER MATTERS TO BE CONSIDERED AT THE ANNUAL MEETING
According to Motorola's Proxy Statement, Motorola is soliciting proxies
with respect to three proposals other than the election of directors. Please
refer to Motorola's Proxy Statement for a detailed discussion of these
proposals, including various arguments in favor of and against such proposals.
These proposals are outlined below. IF YOU HAVE SIGNED THE GOLD PROXY CARD AND
NO MARKING IS MADE, YOU WILL BE DEEMED TO HAVE GIVEN A DIRECTION TO (I) VOTE FOR
PROPOSAL 3 BELOW ALL THE SHARES REPRESENTED BY YOUR GOLD PROXY CARD, AND (II)
ABSTAIN FROM VOTING ALL THE SHARES REPRESENTED BY YOUR GOLD PROXY CARD WITH
RESPECT TO PROPOSALS 2 AND 4.
Proposal 2 - AMENDMENT TO THE MOTOROLA EMPLOYEE STOCK PURCHASE PLAN OF 1999
At the Annual Meeting, the Stockholders will be asked to vote on the
proposed by Motorola amendment to The Motorola Employee Stock Purchase Plan of
1999. Motorola's Board of Directors recommended a vote for this proposal. The
Participants intend to abstain from voting on this proposal and make no
recommendation as to this proposal.
Voting on Proposal 2
The accompanying GOLD proxy card will be voted in accordance with your
instruction on such card. You may vote for or vote against, or abstain from
voting on Proposal 2 described above by marking the proper box on the GOLD proxy
card.
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Proposal 3 - SHAREHOLDER PROPOSAL RE: SHAREHOLDER VOTE ON EXECUTIVE PAY
At the Annual Meeting, the Stockholders will be asked to vote on a
shareholder proposal to ask Motorola's Board of Directors to adopt a policy that
shareholders be given the opportunity to vote on an advisory management
resolution at each annual meeting to approve the Compensation Committee report
in the proxy statement. Motorola's Board of Directors recommended a vote against
this proposal. The Participants intend to vote, and recommend that you vote, for
this proposal.
Voting on Proposal 3
The accompanying GOLD proxy card will be voted in accordance with your
instruction on such card. You may vote for or vote against, or abstain from
voting on Proposal 3 described above by marking the proper box on the GOLD proxy
card.
Proposal 4 - SHAREHOLDER PROPOSAL RE: RECOUP UNEARNED MANAGEMENT BONUSES
At the Annual Meeting, the Stockholders will be asked to vote on a
shareholder proposal to request Motorola's Board of Directors to adopt a policy
(preferably in Motorola's bylaws), for Motorola's Board of Directors to recoup
for the benefit of Motorola all unearned incentive bonuses or other incentive
payments to senior executives to the extent that their corresponding performance
targets were later reasonably determined to have not been achieved. Motorola's
Board of Directors recommended a vote against this proposal. The Participants
intend to abstain from voting on this proposal and make no recommendation as to
this proposal.
Voting on Proposal 4
The accompanying GOLD proxy card will be voted in accordance with your
instruction on such card. You may vote for or vote against, or abstain from
voting on Proposal 4 described above by marking the proper box on the GOLD proxy
card.
Other Proposals
The Participants and their affiliates know of no other business to be
presented at the Annual Meeting. If any other matters should properly come
before the Annual Meeting, it is intended that the persons named on the enclosed
GOLD proxy card will vote that proxy on such other matters in accordance with
their judgment.
VOTING PROCEDURES
According to Motorola's Proxy Statement, the voting procedures are as set
forth below.
Holders of shares of Motorola's Common Stock, at the close of business on
the Record Date are entitled to notice of, and to vote at, the Annual Meeting.
Each share of
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Common Stock outstanding on the Record Date is entitled to one vote on each
matter presented at the Annual Meeting.
Directors are elected by a plurality of the votes cast by the holders of
Motorola's Common Stock at a meeting at which a quorum is present. Plurality
means that the individuals who receive the largest number of votes cast are
elected as directors up to the maximum number of directors to be chosen at the
meeting. Consequently, any shares not voted (whether by abstention, broker
nonvote or otherwise) have no impact in the election of directors. A quorum is a
majority of the Shares entitled to vote at the Annual Meeting. The Shares
represented by a proxy marked "withhold" or "abstain" will be considered present
at the Annual Meeting for purposes of determining a quorum.
As explained in the detailed instructions on your GOLD proxy card, there
are four ways you may vote. You may:
1. Sign, date and return the enclosed GOLD proxy card in the enclosed
postage-paid envelope. We recommend that you vote on the GOLD proxy card
even if you plan to attend the Annual Meeting;
2. Vote via the Internet by following the voting instructions on the GOLD
proxy card or the voting instructions provided by your broker, bank or
other holder of record. If you submit your vote by Internet, you may incur
costs associated with electronic access, such as usage charges from
Internet access providers and telephone companies;
3. Vote by telephone by following the voting instructions on the GOLD proxy
card or the instructions provided by your broker, bank or other holder of
record; or
4. Vote in person by attending the Annual Meeting. Written ballots will be
distributed to Stockholders who wish to vote in person at the Annual
Meeting. If you hold your Shares through a bank, broker or other
custodian, you must obtain a legal proxy from such custodian in order to
vote in person at the meeting.
To submit a proxy with voting instructions by telephone please call the
telephone number listed on the GOLD proxy card. Proxies may also be submitted
over the Internet. Please refer to the GOLD proxy card for the website
information. In each case Stockholders will be required to provide the unique
control number which has been printed on each Stockholder's GOLD proxy card. In
addition to the instructions that appear on the GOLD proxy card, step-by-step
instructions will be provided by a recorded telephone message for those
Stockholders submitting proxies by telephone, or at the designated website for
those Stockholders submitting proxies over the Internet. Stockholders submitting
their proxies with voting instructions by telephone or over the Internet will
receive confirmation on the telephone that their vote by telephone was
successfully submitted, and may provide an email address for confirmation that
their vote by Internet was successfully submitted.
Whether or not you are able to attend the Annual Meeting, you are urged to
complete the enclosed GOLD proxy and return it in the enclosed self-addressed,
prepaid envelope. All valid proxies received prior to the meeting will be voted.
If you specify a choice with respect to any item by marking the appropriate box
on the proxy, the Shares will be voted in accordance with that specification. IF
NO SPECIFICATION IS MADE, THE SHARES WILL
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BE VOTED (I) FOR CARL C. ICAHN FOR DIRECTOR AND FOR THE PERSONS WHO ARE EXPECTED
TO BE NOMINATED BY MOTOROLA (OTHER THAN MR. JOHN A. WHITE), FOR DIRECTORS; (II)
FOR THE PROPOSAL 3, (III) ABSTAIN WITH RESPECT TO THE PROPOSALS 2 AND 4; AND, IN
THE PROXY HOLDERS' DISCRETION AS TO OTHER MATTERS THAT MAY PROPERLY COME BEFORE
THE ANNUAL MEETING. The names, backgrounds and qualifications of the Motorola's
nominees, and other information about them, can be found in Motorola's Proxy
Statement. There is no assurance that any of Motorola's nominees will serve as
directors if the Nominee is elected.
If you have any questions or require any assistance in executing your
proxy, please call:
Innisfree M&A Incorporated
Stockholders call toll-free: (877) 825-8772
Banks and Brokers call collect: (212) 750-5833
PROXY PROCEDURES
IN ORDER FOR YOUR VIEWS TO BE REPRESENTED AT THE ANNUAL MEETING, PLEASE
MARK, SIGN, DATE AND RETURN THE ENCLOSED GOLD PROXY CARD IN THE ENCLOSED
POSTAGE-PREPAID ENVELOPE.
The accompanying GOLD proxy card will be voted at the Annual Meeting in
accordance with your instructions on such card.
Only holders of record as of the close of business on the Record Date will
be entitled to vote. If you were a Stockholder of record on the Record Date, you
will retain your voting rights at the Annual Meeting even if you sell such
shares after the Record Date. Accordingly, it is important that you vote the
shares held by you on the Record Date, or grant a proxy to vote such shares on
the GOLD proxy card, even if you sell such shares after the Record Date.
IF YOUR SHARES ARE HELD IN THE NAME OF A BROKERAGE FIRM, BANK, BANK
NOMINEE OR OTHER INSTITUTION ON THE RECORD DATE, ONLY IT CAN VOTE SUCH SHARES
AND ONLY UPON RECEIPT OF YOUR SPECIFIC INSTRUCTIONS. ACCORDINGLY, PLEASE CONTACT
THE PERSON RESPONSIBLE FOR YOUR ACCOUNT AND INSTRUCT THAT PERSON TO EXECUTE ON
YOUR BEHALF THE GOLD PROXY CARD AS SOON AS POSSIBLE.
REVOCATION OF PROXIES
Any Stockholders of record may revoke or change his or her proxy instructions at
any time prior to the vote at the Annual Meeting by:
o submitting a properly executed, subsequently dated GOLD proxy card that
will revoke all prior proxy cards, including any White proxy cards which
you may have submitted to Motorola;
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o instructing the Icahn Parties by telephone or via the Internet as to how
you would like your shares voted (instructions are on your GOLD proxy
card);
o attending the Annual Meeting and withdrawing his or her proxy by voting in
person (although attendance at the Annual Meeting will not in and of
itself constitute revocation of a proxy); or
o delivering written notice of revocation either to the Icahn Parties c/o
Innisfree M&A Incorporated, 501 Madison Avenue, New York, New York 10022,
or the Corporate Secretary of Motorola at address provided by Motorola in
Motorola's Proxy Statement.
Although a revocation is effective if delivered to Motorola, the Icahn
Parties request that either the original or a copy of any revocation be mailed
to the Icahn Parties c/o Innisfree M&A Incorporated, 501 Madison Avenue, New
York, New York 10022, so that the Icahn Group will be aware of all revocations.
IF YOU PREVIOUSLY SIGNED AND RETURNED A WHITE PROXY CARD TO MOTOROLA, WE
URGE YOU TO REVOKE IT BY (1) SIGNING, DATING AND RETURNING THE GOLD PROXY CARD,
(2) INSTRUCTING US BY TELEPHONE OR VIA THE INTERNET AS TO HOW YOU WOULD LIKE
YOUR SHARES VOTED, (3) ATTENDING THE ANNUAL MEETING AND VOTING IN PERSON OR (4)
DELIVERING A WRITTEN NOTICE OF REVOCATION TO THE ICAHN PARTIES OR TO THE
CORPORATE SECRETARY OF THE COMPANY.
COST AND METHOD OF SOLICITATION
Solicitation of proxies shall be made by Messrs. Icahn, Meister and
Intrieri.
The Icahn Parties have retained Innisfree M&A Incorporated ("Innisfree")
to conduct the solicitation, for which Innisfree is to receive a fee not to
exceed $500,000, plus reimbursement for its reasonable out-of-pocket expenses.
The Icahn Parties have agreed to indemnify Innisfree against certain liabilities
and expenses, including certain liabilities under the federal securities laws.
Insofar as indemnification for liabilities arising under the federal securities
laws may be permitted to Innisfree pursuant to the foregoing provisions, we have
been informed that in the opinion of the Securities and Exchange Commission,
such indemnification is against public policy and is therefore unenforceable.
Proxies may be solicited by mail, courier services, Internet, advertising,
telephone or telecopier or in person. It is anticipated that Innisfree will
employ approximately 100 persons to solicit proxies from Motorola Stockholders
for the Annual Meeting. The total expenditures in furtherance of, or in
connection with, the solicitation of proxies is $150,000 to date, and is
estimated to be $2,750,000 in total.
The Icahn Parties intend to seek reimbursement for the costs and expenses
associated with the proxy solicitation in the event that the Nominee is elected
to the Board of Directors of Motorola, but do not intend to submit the issue of
reimbursement to a vote of security holders.
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ADDITIONAL INFORMATION
Certain information regarding the securities of Motorola held by
Motorola's Directors, nominees, management and 5% Stockholders is contained in
Motorola's Proxy Statement. Information concerning the date by which proposals
of security holders intended to be presented at the next annual meeting of
Stockholders of Motorola must be received by Motorola for inclusion in
Motorola's Proxy Statement and form of proxy for that meeting is also contained
in Motorola's Proxy Statement. This information is contained in Motorola's
public filings. The Participants take no responsibility for the accuracy or
completeness of such information.
Date: April 5, 2007 ICAHN PARTNERS LP
ICAHN PARTNERS MASTER FUND LP
ICAHN PARTNERS MASTER FUND II L.P.
ICAHN PARTNERS MASTER FUND III L.P.
HIGH RIVER LIMITED PARTNERSHIP
CARL C. ICAHN
11
APPENDIX I
Security Ownership of Nominee and Icahn Parties
--------------------------------------------------------------------------------
(3) Amount
(2) Name of and Nature
(1) Title Beneficial of Beneficial (4) Percent
of Class(2) Owner(3) Ownership(4) of Class(5)
--------------------------------------------------------------------------------
Common Stock High River 13,822,660 0.58%
--------------------------------------------------------------------------------
Common Stock Icahn Master 24,750,709 1.04%
--------------------------------------------------------------------------------
Common Stock Icahn Master II 9,070,027 0.38%
--------------------------------------------------------------------------------
Common Stock Icahn Master III 3,360,000 0.14%
--------------------------------------------------------------------------------
Common Stock Icahn Partners 18,109,904 0.76%
--------------------------------------------------------------------------------
Beneficial Ownership
The Icahn Parties are deemed to beneficially own (here and as such term is used
in this Appendix I, as is defined in Rule 13d-3 under the Securities Exchange
Act of 1934), in the aggregate, 69,113,300 Shares(6), representing approximately
2.90%(7) of the Corporation's outstanding Shares (based upon 2,385,724,367
Shares stated to be outstanding as of the Record Date by the Corporation in
Motorola's Proxy Statement).
High River has sole voting power and sole dispositive power with regard to
13,822,660 Shares(8). Each of Hopper, Barberry and Carl C. Icahn has shared
voting power and shared dispositive power with regard to such Shares. Each of
Icahn Master, Icahn Master II and Icahn Master III has sole voting power and
sole dispositive power with regard to 24,750,709 Shares(9), 9,070,027 Shares(10)
and 3,360,000 Shares(11), respectively. Each of Icahn Offshore, CCI Offshore and
Carl C. Icahn has shared voting power and shared dispositive power with regard
to such Shares.
----------
(2) Please note that in addition to Common Stock, Icahn Parties also purchased
$11.50 Call Options on Shares as described on Attachment 1to this Appendix
I.
(3) Please note that each Record Holder listed above is the direct beneficial
owner of Shares set forth under the heading "(3) Amount and Nature of
Beneficial Ownership" and that beneficial ownership of Shares is described
in the text of this Appendix I under the heading "Beneficial Ownership."
(4) Please note that amounts of Shares set forth in this column include the
respective amounts of Shares underlying $11.50 Call Options purchased by
the respective Icahn Parties as described on Attachment 1 to this Appendix
I.
(5) Please note that percentages of ownership set forth in this column take
into account the respective amounts of Shares underlying $11.50 Call
Options purchased by the respective Icahn Parties as described on
Attachment 1 to this Appendix I and that such percentages were calculated
based on the amount of Shares stated to be outstanding as of the Record
Date in the Motorola's Proxy Statement.
(6) Please note this amount of Shares includes the aggregate amount of Shares
underlying $11.50 Call Options described on Attachment 1 to this Appendix
I.
(7) Please note this percentage of ownership takes into account the aggregate
amount of Shares underlying $11.50 Call Options described on Attachment
1to this Appendix I.
(8) Please note this amount of Shares includes Shares underlying $11.50 Call
Options purchased by High River as described on Attachment 1to this
Appendix I.
(9) Please note this amount of Shares includes Shares underlying $11.50 Call
Options purchased by Icahn Master as described on Attachment 1to this
Appendix I.
(10) Please note this amount of Shares includes Shares underlying $11.50 Call
Options purchased by Icahn Master II as described on Attachment 1to this
Appendix I.
(11) Please note this amount of Shares includes Shares underlying $11.50 Call
Options purchased by Icahn Master II as described on Attachment 1to this
Appendix I.
12
Icahn Partners has sole voting power and sole dispositive power with regard to
18,109,904 Shares(12). Each of Icahn Onshore, CCI Onshore and Carl C. Icahn has
shared voting power and shared dispositive power with regard to such Shares.
Each of Hopper, Barberry and Mr. Icahn, by virtue of their relationships to High
River, are deemed to beneficially own the Shares which High River directly
beneficially owns. Each of Icahn Offshore, CCI Offshore and Mr. Icahn, by virtue
of their relationships to each of Icahn Master, Icahn Master II and Icahn Master
III, are deemed to beneficially own the Shares which each of Icahn Master, Icahn
Master II and Icahn Master III directly beneficially owns. Each of Icahn
Onshore, CCI Onshore and Mr. Icahn, by virtue of their relationships to Icahn
Partners, are deemed to beneficially own the Shares which Icahn Partners
directly beneficially owns.
Two Years Summary Tables
The following table indicates the date of each purchase of Shares by Mr. Icahn
and his affiliates within the past two years, and the number of Shares in each
such purchase.(13) Except as stated below, Mr. Icahn and his affiliates did not
sell any Shares within the past two years.(14)
--------------------------------------------------------------------------------
No. of Shares
Name Date Purchased
--------------------------------------------------------------------------------
High River 01/18/07 900,000
--------------------------------------------------------------------------------
High River 01/19/07 460,000
--------------------------------------------------------------------------------
High River 03/06/07 980,000*
--------------------------------------------------------------------------------
High River 04/03/07 11,221,000
--------------------------------------------------------------------------------
High River 04/05/07 111,660
--------------------------------------------------------------------------------
Icahn Master 01/18/07 2,033,413
--------------------------------------------------------------------------------
Icahn Master 01/19/07 1,039,300
--------------------------------------------------------------------------------
Icahn Master 03/06/07 150,815*
--------------------------------------------------------------------------------
Icahn Master 04/03/07 21,317,471
--------------------------------------------------------------------------------
Icahn Master II 03/06/07 2,970,934*
--------------------------------------------------------------------------------
Icahn Master II 04/03/07 6,022,245
--------------------------------------------------------------------------------
Icahn Master III 04/03/07 2,753,360
--------------------------------------------------------------------------------
Icahn Master III 04/05/07 446,640
--------------------------------------------------------------------------------
Icahn Partners 01/18/07 1,566,587
--------------------------------------------------------------------------------
Icahn Partners 01/19/07 800,700
--------------------------------------------------------------------------------
Icahn Partners 03/06/07 798,251*
--------------------------------------------------------------------------------
Icahn Partners 04/03/07 14,790,924
--------------------------------------------------------------------------------
----------
(12) Please note this amount of Shares includes Shares underlying $11.50 Call
Options purchased by Icahn Partners as described on Attachment 1to this
Appendix I.
(13) In addition, please refer to Attachment 1 to this Appendix I for a
description of certain call options on Shares from time to time purchased
and sold by Icahn Parties.
(14) Please refer to Attachment 2 to this Appendix I for a description of
certain put options on Shares which put options were sold and subsequently
purchased back by Icahn Parties.
13
*These amounts consist of the numbers of Shares obtained by the respective Icahn
Parties as a result of an exercise by each such party of their respective
American call options written by Morgan Stanley and Co. International Limited,
which had the strike price of $13.50 and the expiration date of 03/19/07.
Part of the purchase price of Shares purchased by High River was obtained
through margin borrowing. Shares purchased by High River are maintained in a
margin account that includes positions in securities in addition to Shares. The
indebtedness of the margin account as of April 5, 2007 was approximately
$336,743,248.
The numbers of Shares set forth in the following table consist of the numbers of
Shares underlying American call options written by Morgan Stanley and Co.
International Limited (which options had a strike price of $13.50 and an
expiration date of 03/19/07) which were sold on 03/19/07 without exercise by the
respective Icahn Parties back to Morgan Stanley and Co. International Limited.
--------------------------------------------------------------------------------
No. of Shares
Name Date Underlying Option
--------------------------------------------------------------------------------
High River 03/19/07 3,526,840
--------------------------------------------------------------------------------
Icahn Master 03/19/07 5,489,372
--------------------------------------------------------------------------------
Icahn Master II 03/19/07 6,022,245
--------------------------------------------------------------------------------
Icahn Partners 03/19/07 2,595,743
--------------------------------------------------------------------------------
The numbers of Shares set forth in the following table consist of the numbers of
Shares underlying American call options written by Morgan Stanley and Co.
International Limited (which options had a strike price of $13.50 and an
expiration date of 04/04/07) which were sold on 04/03/07 without exercise by the
respective Icahn Parties back to Morgan Stanley and Co. International Limited.
--------------------------------------------------------------------------------
No. of Shares
Name Date Underlying Option
--------------------------------------------------------------------------------
High River 04/03/07 3,526,840
--------------------------------------------------------------------------------
Icahn Master 04/03/07 5,489,372
--------------------------------------------------------------------------------
Icahn Master II 04/03/07 6,022,245
--------------------------------------------------------------------------------
Icahn Partners 04/03/07 2,595,743
--------------------------------------------------------------------------------
14
The numbers of Shares set forth in the following table consist of the numbers of
Shares underlying American call options written by Morgan Stanley and Co.
International Limited (which options had a strike price of $13.50 and an
expiration date of 01/16/09) which were sold on 04/03/07 without exercise by the
respective Icahn Parties back to Morgan Stanley and Co. International Limited.
--------------------------------------------------------------------------------
No. of Shares
Name Date Underlying Option
--------------------------------------------------------------------------------
High River 04/03/07 7,005,820
--------------------------------------------------------------------------------
Icahn Master 04/03/07 15,828,099
--------------------------------------------------------------------------------
Icahn Partners 04/03/07 12,195,181
--------------------------------------------------------------------------------
15
ATTACHMENT 1 TO APPENDIX I
American call options purchased by Icahn Parties, which were written by Morgan
Stanley and Co. International Limited and have $13.50 strike price, expiration
date 01/16/09, and provide for a physical settlement (unless an Icahn Party opts
for a cash settlement) and are further described in the chart set forth below
(please note that these options were sold on 04/03/07 without exercise by the
respective Icahn Parties back to Morgan Stanley and Co. International Limited):
Icahn Partners Icahn Master
---------------------------------------------------------------------------------------------
Number of Number of
Shares Shares
Subject Option Subject Option
Trade Date to Option Premium ($) to Option Premium ($)
---------------------------------------------------------------------------------------------
1/19/2007 1,566,639 9,099,039.31 2,033,361 11,809,760.69
---------------------------------------------------------------------------------------------
1/22/2007 2,088,931 10,805,622.28 2,711,069 14,023,817.72
---------------------------------------------------------------------------------------------
1/23/2007 1,784,785 8,973,542.02 2,316,495 11,646,873.56
---------------------------------------------------------------------------------------------
1/24/2007 1,740,711 8,892,770.29 2,259,289 11,542,029.71
---------------------------------------------------------------------------------------------
1/25/2007 1,498,856 7,870,193.08 1,945,384 10,214,822.31
---------------------------------------------------------------------------------------------
1/26/2007 625,646 3,042,829.32 812,034 3,949,327.36
---------------------------------------------------------------------------------------------
1/29/2007 1,740,710 8,291,175.80 2,259,290 10,761,224.20
---------------------------------------------------------------------------------------------
1/31/2007 1,148,903 7,146,176.66 1,491,177 9,275,120.94
---------------------------------------------------------------------------------------------
Totals 12,195,181 64,121,348.76 15,828,099 83,222,976.49
---------------------------------------------------------------------------------------------
High River Total
-------------------------------------------------------------------------
Number of Number of
Shares Shares
Subject Option Subject Option
to Option Premium ($) to Option Premium ($)
-------------------------------------------------------------------------
900,000 5,227,200.00 4,500,000 26,136,000.00
-------------------------------------------------------------------------
1,200,000 6,207,360.00 6,000,000 31,036,800.00
-------------------------------------------------------------------------
1,025,320 5,155,103.90 5,126,600 25,775,519.48
-------------------------------------------------------------------------
1,000,000 5,108,700.00 5,000,000 25,543,500.00
-------------------------------------------------------------------------
861,060 4,521,253.85 4,305,300 22,606,269.24
-------------------------------------------------------------------------
359,420 1,748,039.17 1,797,100 8,740,195.85
-------------------------------------------------------------------------
1,000,000 4,763,100.00 5,000,000 23,815,500.00
-------------------------------------------------------------------------
660,020 4,105,324.40 3,300,100 20,526,622.00
-------------------------------------------------------------------------
7,005,820 36,836,081.32 35,029,100 184,180,406.57
-------------------------------------------------------------------------
16
American call options purchased by Icahn Parties, which were written by Morgan
Stanley and Co. International Limited and have $13.50 strike price, expiration
date 3/19/07, and provide for a physical settlement (unless an Icahn Party opts
for a cash settlement) and are further described in the chart set forth below
(please note that these options were sold on 03/19/07 without exercise by the
respective Icahn Parties back to Morgan Stanley and Co. International Limited):
Icahn Partners Icahn Master Icahn Master II
------------------------------------------------------------------------------------------------------------------
Number of Number of Number of
Subject Shares Shares
Trade Shares Option Subject Option Subject Option
Date to Option Premium ($) to Option Premium ($) to Option Premium ($)
------------------------------------------------------------------------------------------------------------------
2/2/2007 64,426 415,869.83
------------------------------------------------------------------------------------------------------------------
2/5/2007 1,856,000 11,910,137.60
------------------------------------------------------------------------------------------------------------------
2/6/2007 2,880,000 18,108,576.00
------------------------------------------------------------------------------------------------------------------
2/7/2007 309,725 1,991,376.89 191,656 1,232,252.25
------------------------------------------------------------------------------------------------------------------
2/12/2007 760,756 4,362,859.58 117,241 672,365.41
------------------------------------------------------------------------------------------------------------------
2/13/2007 771,229 4,518,630.71 1,110,424 6,505,974.22 445,903 2,612,545.68
------------------------------------------------------------------------------------------------------------------
2/14/2007 562,448 3,326,317.47 740,283 4,378,033.66 297,269 1,758,048.87
------------------------------------------------------------------------------------------------------------------
3/9/2007 461,688 2,303,361.43 1,474,312 7,355,342.57
------------------------------------------------------------------------------------------------------------------
3/12/2007 800,378 4,145,157.66 1,093,872 5,665,163.09 169,750 879,135.25
------------------------------------------------------------------------------------------------------------------
Totals 2,595,743 14,293,467.27 5,489,372 30,258,750.01 6,022,245 37,588,930.89
------------------------------------------------------------------------------------------------------------------
High River Total
----------------------------------------------------------------
Number of Number of
Shares Shares
Subject Option Subject Option
to Option Premium ($) to Option Premium ($)
----------------------------------------------------------------
64,426 415,869.83
----------------------------------------------------------------
242,840 1,558,328.56 2,098,840 13,468,466.16
----------------------------------------------------------------
720,000 4,527,144.00 3,600,000 22,635,720.00
----------------------------------------------------------------
200,000 1,285,900.00 701,381 4,509,529.14
----------------------------------------------------------------
364,000 2,087,503.60 1,241,997 7,122,728.59
----------------------------------------------------------------
600,000 3,515,400.00 2,927,556 17,152,550.61
----------------------------------------------------------------
400,000 2,365,600.00 2,000,000 11,828,000.00
----------------------------------------------------------------
484,000 2,414,676.00 2,420,000 12,073,380.00
----------------------------------------------------------------
516,000 2,672,364.00 2,580,000 13,361,820.00
----------------------------------------------------------------
3,526,840 20,426,916.16 17,634,200 102,568,064.33
----------------------------------------------------------------
17
American call options purchased by Icahn Parties, which were written by Morgan
Stanley and Co. International Limited and have $13.50 strike price, expiration
date 4/4/07, and provide for a physical settlement (unless an Icahn Party opts
for a cash settlement) and are further described in the chart set forth below
(please note that these options were sold on 04/03/07 without exercise by the
respective Icahn Parties back to Morgan Stanley and Co. International Limited):
Icahn Partners Icahn Master Icahn Master II
------------------------------------------------------------------------------------------------------------------
Number of Number of Number of
Shares Shares Shares
Trade Subject Option Subject Option Subject Option
Date to Option Premium ($) to Option Premium ($) to Option Premium ($)
------------------------------------------------------------------------------------------------------------------
3/19/2007 2,595,743 12,277,864.39 5,489,372 25,964,729.56 6,022,245 28,485,218.85
------------------------------------------------------------------------------------------------------------------
High River Total
----------------------------------------------------------------
Number of Number of
Shares Shares
Subject Option Subject to Option
to Option Premium ($) Option Premium ($)
----------------------------------------------------------------
3,526,840 16,681,953.20 17,634,200 83,409,768.00
----------------------------------------------------------------
American call options purchased by Icahn Parties, which were written by UBS AG,
London Branch and have $11.50 strike price, expiration date 4/20/07 ("$11.50
Call Options"), and provide for a physical settlement (unless an Icahn Party
opts for a cash settlement) and are further described in the chart set forth
below:
Icahn Partners Icahn Master Icahn Master II
-------------------------------------------------------------------------------------------------------------------------
Number of Number of Number of
Shares Shares Shares
Trade Subject Option Subject Option Subject Option
Date to Option Premium ($) to Option Premium ($) to Option Premium ($)
-------------------------------------------------------------------------------------------------------------------------
3/22/2007 153,442 937,883.54 209,710 1,281,810.43 76,848 469,718.03
-------------------------------------------------------------------------------------------------------------------------
4/02/2007
-------------------------------------------------------------------------------------------------------------------------
High River Icahn Master III
-------------------------------------------------------------------
Number of Number of
Shares Shares
Subject Premium Subject Option
to Option Option ($) to Option Premium ($)
-------------------------------------------------------------------
110,000 672,353.00
-------------------------------------------------------------------
40,000 243,520.00 160,000 974,080.00
-------------------------------------------------------------------
18
ATTACHMENT 2 TO APPENDIX I
European put options sold by Icahn Parties, which were written by Morgan Stanley
and Co. International Limited and have $13.50 strike price, expiration date
1/16/09, and provide for cash settlement only are further described in the chart
set forth below (please note that these options were purchased back by the
respective Icahn Parties on 04/03/07 from Morgan Stanley and Co. International
Limited without exercise by Morgan Stanley and Co. International Limited):
Icahn Partners Icahn Master
------------------------------------------------------------------------------------------
Number of Number of
Shares Shares
Trade Subject Option Subject Option
Date to Option Premium ($) to Option Premium ($)
------------------------------------------------------------------------------------------
1/19/2007 1,566,639 15,666.39 2,033,361 20,333.61
------------------------------------------------------------------------------------------
1/22/2007 2,088,931 20,889.31 2,711,069 27,110.69
------------------------------------------------------------------------------------------
1/23/2007 1,784,785 17,847.85 2,316,495 23,164.95
------------------------------------------------------------------------------------------
1/24/2007 1,740,711 17,407.11 2,259,289 22,592.89
------------------------------------------------------------------------------------------
1/25/2007 1,498,856 14,988.56 1,945,384 19,453.84
------------------------------------------------------------------------------------------
1/26/2007 625,646 6,256.46 812,034 8,120.34
------------------------------------------------------------------------------------------
1/29/2007 1,740,710 17,407.10 2,259,290 22,592.90
------------------------------------------------------------------------------------------
1/31/2007 1,148,903 11,489.03 1,491,177 14,911.77
------------------------------------------------------------------------------------------
Totals 12,195,181 121,951.81 15,828,099 158,280.99
------------------------------------------------------------------------------------------
High River Total
-------------------------------------------------------------------------
Number of Number of
Shares Shares
Subject Option Subject Option
to Option Premium ($) to Option Premium ($)
-------------------------------------------------------------------------
900,000 9,000.00 4,500,000 45,000.00
-------------------------------------------------------------------------
1,200,000 12,000.00 6,000,000 60,000.00
-------------------------------------------------------------------------
1,025,320 10,253.20 5,126,600 51,266.00
-------------------------------------------------------------------------
1,000,000 10,000.00 5,000,000 50,000.00
-------------------------------------------------------------------------
861,060 8,610.60 4,305,300 43,053.00
-------------------------------------------------------------------------
359,420 3,594.20 1,797,100 17,971.00
-------------------------------------------------------------------------
1,000,000 10,000.00 5,000,000 50,000.00
-------------------------------------------------------------------------
660,020 6,600.20 3,300,100 33,001.00
-------------------------------------------------------------------------
7,005,820 70,058.20 35,029,100 350,291.00
-------------------------------------------------------------------------
19
IMPORTANT
1. If your shares are held in your own name, please mark, date and mail
the enclosed GOLD proxy card to our Proxy Solicitor, Innisfree M&A Incorporated,
in the postage-paid envelope provided.
2. If your shares are held in the name of a brokerage firm, bank nominee
or other institution, only it can vote such shares and only upon receipt of your
specific instructions. Accordingly, you should contact the person responsible
for your account and give instructions for a GOLD proxy card to be signed
representing your shares.
3. If you have already submitted a white proxy card to Motorola for the
Annual Meeting, you may change your vote to a vote FOR the election of the
Nominee by marking, signing, dating and returning the enclosed GOLD proxy card
for the Annual Meeting, which must be dated after any proxy you may have
submitted to Motorola. ONLY YOUR LATEST DATED PROXY FOR THE ANNUAL MEETING WILL
COUNT AT THE ANNUAL MEETING.
If you have any questions or require any assistance in executing your
proxy, please call:
Innisfree M&A Incorporated
Stockholders call toll-free: (877) 825-8772
Banks and Brokers call collect: (212) 750-5833
20
PLEASE SEE REVERSE SIDE FOR
THREE EASY WAYS TO VOTE!
--------------------------------------------------------------------------------
PROXY CARD
MOTOROLA, INC.
2007 ANNUAL MEETING OF STOCKHOLDERS
THIS PROXY IS SOLICITED BY
CARL C. ICAHN
ICAHN PARTNERS LP
ICAHN PARTNERS MASTER FUND LP
ICAHN PARTNERS MASTER FUND II L.P.
ICAHN PARTNERS MASTER FUND III L.P. AND
HIGH RIVER LIMITED PARTNERSHIP
The undersigned hereby appoints and constitutes each of Carl C. Icahn,
Keith A. Meister, David Schechter and Vincent J. Intrieri (acting alone or
together) as proxies, with full power of substitution in each, to represent the
undersigned at the Annual Meeting of Stockholders of Motorola, Inc. ("Motorola")
to be held on May 7, 2007 at 4:30 p.m. local time, and at any adjournment or
postponement thereof, hereby revoking any proxies previously given, to vote all
shares of Common Stock of Motorola held or owned by the undersigned as directed
below, and in their discretion upon such other matters as may come before the
meeting. IF NO DIRECTION IS MADE WITH RESPECT TO A PROPOSAL, THIS PROXY WILL BE
VOTED AS FOLLOWS WITH RESPECT TO ANY SUCH PROPOSAL: (I) FOR CARL C. ICAHN FOR
DIRECTOR AND FOR THE PERSONS WHO ARE EXPECTED TO BE NOMINATED BY MOTOROLA (OTHER
THAN MR. JOHN A. WHITE), FOR DIRECTORS; (II) FOR PROPOSAL 3, (III) ABSTAIN WITH
RESPECT TO PROPOSALS 2 AND 4. THIS PROXY WILL ALSO BE VOTED AT THE DISCRETION OF
THE PROXY HOLDERS UPON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE THE
MEETING. If any nominee for director is unable or declines to serve as director,
this proxy will be voted for any nominee that any of Icahn Partners LP, Icahn
Partners Master Fund LP, Icahn Partners Master Fund II L.P., Icahn Partners
Master Fund III L.P. or High River Limited Partnership (collectively, the "Icahn
Parties") designates.
YOUR VOTE IS VERY IMPORTANT--PLEASE VOTE YOUR PROXY TODAY.
(CONTINUED AND TO BE SIGNED AND DATED ON THE REVERSE SIDE.)
21
PROXY SOLICITED BY THE ICAHN PARTIES.
YOUR VOTE IS VERY IMPORTANT
Please take a moment now to vote your shares of Motorola, Inc.
common stock for the upcoming Annual Meeting of Stockholders.
YOU CAN VOTE TODAY IN ONE OF THREE WAYS:
1. Vote by Telephone - Call toll-free from the U.S. or Canada at
1-866-883-2379 on a touch-tone telephone. If outside the U.S. or Canada,
call 1-215-521-1344. Please follow the simple instructions provided. You
will be required to provide the unique control number printed below.
OR
2. Vote by Internet - Please access https://www.proxyvotenow.com/mot, and
follow the simple instructions provided. Please note you must type an "s"
after http. You will be required to provide the unique control number
printed below.
------------------------------
| |
| |
CONTROL NUMBER: | |
| |
| |
------------------------------
You may vote by telephone or Internet 24 hours a day, 7 days a week.
Your telephone or Internet vote authorizes the named proxies to vote your
shares in the same manner as if you had executed a proxy card.
OR
3. Vote by Mail - If you do not have access to a touch-tone telephone or to
the Internet or wish to vote by mail, please sign, date and return the
proxy card in the envelope provided, or mail to: Icahn Parties, c/o
Innisfree M&A Incorporated, FDR Station, P.O. Box 5156, New York, NY
10150-5156.
TO VOTE BY MAIL, PLEASE DETACH PROXY CARD HERE AND RETURN
IN THE ENVELOPE PROVIDED
--------------------------------------------------------------------------------
THE ICAHN PARTIES RECOMMEND A VOTE "FOR" THE ELECTION OF ITS NOMINEE AND "FOR"
PROPOSAL 3, AND MAKE NO RECOMMENDATIONS WITH RESPECT TO PROPOSALS 2 AND 4
[X] PLEASE MARK VOTES AS IN THIS EXAMPLE.
Proposal 1: To elect (01) Mr. Carl C. Icahn as a director: [ ] [ ]
FOR WITHHELD
The Icahn Parties intend to use this proxy to vote for Mr. Icahn and for
the persons who have been nominated by Motorola to serve as directors, other
than the Motorola nominee listed below. You may withhold authority to vote for
one or more additional Motorola nominees, by writing the name of the nominee(s)
below. You should refer to the proxy statement and form of proxy distributed by
Motorola for the names, background, qualifications and other information
concerning the Motorola nominees.
There is no assurance that any of the Motorola nominees will serve as
directors if the nominee of the Icahn Parties is elected to the board.
The Motorola nominee with respect to whom the Icahn Parties are NOT
seeking authority to vote for and WILL NOT exercise any such authority is Mr.
John A. White.
Write in below the names of any additional Motorola nominee(s) for which
authority to vote is withheld:
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
For Against Abstain
Proposal 2: Approval of Amendment [ ] [ ] [ ]
to The Motorola
Employee Stock
Purchase Plan of 1999
Proposal 3: Shareholder Proposal [ ] [ ] [ ]
re: Shareholder
Vote on Executive Pay
Proposal 4: Shareholder Proposal [ ] [ ] [ ]
re: Recoup Unearned
Management Bonuses
Please sign exactly as your name(s) appear(s) hereon. If shares are
issued in the name of two or more persons, all such persons should sign
the proxy. A proxy executed by a corporation or other company should be
signed in its name by its authorized officers. Executors,
administrators, trustees and partners should indicate their positions
when signing.
---------------------------------------------- --------------, 2007
Signature(s) of Stockholder(s) Date
Signature (if held jointly): ______________________________
--------------------------------------------------------------------
Title(s), if any