Exhibit 10.37

FIRST AMENDMENT

THIS FIRST AMENDMENT (this “Amendment”) dated as of June 23, 2015 to the Credit
Agreement referenced below is by and among Fairchild Semiconductor Corporation,
a Delaware corporation (the “Borrower”), Fairchild Semiconductor International,
Inc., a Delaware corporation (“Holdings”), the other Guarantors identified on
the signature pages hereto, the Lenders identified on the signature pages hereto
and Bank of America, N.A., in its capacity as Administrative Agent (in such
capacity, the “Administrative Agent”).

W I T N E S S E T H

WHEREAS, a revolving credit facility has been extended to the Borrower pursuant
to the Credit Agreement (as amended, modified, supplemented, increased and
extended from time to time, the “Credit Agreement”) dated as of September 26,
2014 among the Borrower, Holdings, the Lenders identified therein and the
Administrative Agent; and

WHEREAS, the Loan Parties and the Required Lenders have agreed to certain
modifications to the Credit Agreement on the terms and conditions set forth
herein.

NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows:

1. Defined Terms. Capitalized terms used herein but not otherwise defined herein
shall have the meanings provided to such terms in the Credit Agreement.

2. Amendment. Clause (c) of the definition of Change in Control in Section 1.01
of the Credit Agreement is amended to read as follows:

 

  (c) [reserved]; or

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3. Conditions Precedent. This Amendment shall become effective as of the date
hereof upon receipt by the Administrative Agent of counterparts of this
Amendment executed by the Borrower, the Guarantors, the Administrative Agent and
the Required Lenders.

4. FATCA Representation. For purposes of determining withholding Taxes imposed
under FATCA, from and after the effective date of the Amendment, the Borrower
and the Administrative Agent shall treat (and the Lenders hereby authorize the
Administrative Agent to treat) the Obligations as not qualifying as a
“grandfathered obligation” within the meaning of Treasury Regulation
Section 1.1471-2(b)(2)(i).

5. Amendment is a “Loan Document”. This Amendment is a Loan Document and all
references to a “Loan Document” in the Credit Agreement and the other Loan
Documents (including, without limitation, all such references in the
representations and warranties in the Credit Agreement and the other Loan
Documents) shall be deemed to include this Amendment.

6. Representations and Warranties; No Default. Each Loan Party represents and
warrants to the Administrative Agent and each Lender that, after giving effect
to this Amendment, (a) the representations and warranties of each Loan Party
contained in the Credit Agreement or any other Loan Document, or which are
contained in any document furnished at any time under or in connection with the
Credit Agreement or any other Loan Document, are true and correct in all
material respects on and as of the date hereof, except to the extent that such
representations and warranties specifically refer to an earlier date, in which
case they are true and correct in all material respects as of such earlier date
and (b) no Default exists.

7. Reaffirmation of Obligations. Each Loan Party (a) acknowledges and consents
to all of the terms and conditions of this Amendment, (b) affirms all of its
obligations under the Loan Documents and (c) agrees that this Amendment and all
documents, agreements and instruments executed in connection with this Amendment
do not operate to reduce or discharge such Loan Party’s obligations under the
Loan Documents.

8. Reaffirmation of Security Interests. Each Loan Party (a) affirms that each of
the Liens granted in or pursuant to the Loan Documents are valid and subsisting
and (b) agrees that this Amendment and all documents, agreements and instruments
executed in connection with this Amendment do not in any manner impair or
otherwise adversely affect any of the Liens granted in or pursuant to the Loan
Documents.

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9. No Other Changes. Except as modified hereby, all of the terms and provisions
of the Loan Documents shall remain in full force and effect.

10. Counterparts; Delivery. This Amendment may be executed in any number of
counterparts, each of which when so executed and delivered shall be deemed an
original and it shall not be necessary in making proof of this Amendment to
produce or account for more than one such counterpart. Delivery of an executed
counterpart of this Amendment by facsimile or other electronic imaging means
shall be effective as an original.

11. Governing Law. This Amendment shall be deemed to be a contract made under,
and for all purposes shall be construed in accordance with, the laws of the
State of New York.

[Signature Pages Follow]

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IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this
First Amendment to be duly executed and delivered as of the date first above
written.

 

BORROWER:   FAIRCHILD SEMICONDUCTOR CORPORATION,   a Delaware corporation    
By:  

/s/Mark S. Frey

    Name:   Mark S. Frey     Title:   Executive Vice President, Chief Financial
Officer and Treasurer

 

GUARANTORS:   FAIRCHILD SEMICONDUCTOR INTERNATIONAL, INC.,   a Delaware
corporation     By:  

/s/ Mark S. Frey

    Name:   Mark S. Frey     Title:   Executive Vice President, Chief Financial
Officer and Treasurer  

KOTA MICROCIRCUITS, INC., a Colorado corporation

FAIRCHILD ENERGY, LLC, a Maine limited liability company

GIANT SEMICONDUCTOR CORPORATION, a North Carolina corporation

GIANT HOLDINGS, INC., a Delaware corporation

FAIRCHILD SEMICONDUCTOR WEST CORPORATION,

  a Delaware corporation    

SILICON PATENT HOLDINGS, a California corporation

MICRO-OHM CORPORATION, a North Carolina corporation

    By:  

/s/ Mark S. Frey

    Name:   Mark S. Frey     Title:   Executive Vice President, Chief Financial
Officer and Treasurer            

[SIGNATURE PAGES CONTINUE]

 

FIRST AMENDMENT

FAIRCHILD SEMICONDUCTOR CORPORATION

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ADMINISTRATIVE

AGENT:   BANK OF AMERICA, N.A., as Administrative Agent   By:  

/s/ Kimberly D. Williams

    Name:   Kimberly D. Williams     Title:   Vice President   LENDERS:   BANK
OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender   By:  

/s/ Jane A. Parker

    Name:   Jane A. Parker     Title:   Senior Vice President     HSBC BANK USA,
NATIONAL ASSOCIATION   By:  

/s/ Pablo Pena

    Name:   Pablo Pena     Title:   Vice President     CITIZENS BANK, N.A.   By:
 

/s/ Christopher J. Delauro

    Name:   Christopher J. Delauro     Title:   Vice President              

 

FIRST AMENDMENT

FAIRCHILD SEMICONDUCTOR CORPORATION

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  FIFTH THIRD BANK     By:  

/s/ Colin Murphy

    Name:   Colin Murphy     Title:   Director     DEUTSCHE BANK AG NEW YORK
BRANCH   By:  

/s/

    Name:       Title:       JPMORGAN CHASE BANK, N.A.   By:  

/s/ Justin B. Kelley

    Name:   Justin B. Kelly     Title:   Vice President     PEOPLE’S UNITED
BANK, NATIONAL ASSOCIATION   By:  

/s/ Yvette D. Hawkins

    Name:   Yvette D. Hawkins     Title:   Vice President  

 

FIRST AMENDMENT

FAIRCHILD SEMICONDUCTOR CORPORATION

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U.S. BANK NATIONAL ASSOCIATION By:

/s/ Brian Seipke

Name: Brian Seipke Title: Vice President BMO HARRIS BANK N.A. By:

/s/ Michael Kus

Name: Michael Kus Title: Managing Director THE HUNTINGTON NATIONAL BANK By:

/s/ Jared Shaner

Name: Jared Shaner Title: Vice President SANTANDER BANK, N.A. By:

/s/ Jay L. Massimo

Name: Jay L. Massimo Title: Senior Vice President

 

FIRST AMENDMENT

FAIRCHILD SEMICONDUCTOR CORPORATION

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SUNTRUST BANK By:

/s/ Min Park

Name: Min Park Title: Vice President WEBSTER BANK, N.A. By:

/s/ Raymond C. Hoefling

Name: Raymond C. Hoefling Title: Senior Vice President WELLS FARGO BANK,
NATIONAL ASSOCIATION By:

/s/ Karen Byler

Name: Karen Byler Title: Senior Vice President

 

FIRST AMENDMENT

FAIRCHILD SEMICONDUCTOR CORPORATION