EXECUTION COPY

AMENDMENT NO. 6

Dated as of June 8, 2009

to

CREDIT AGREEMENT

Dated as of June 6, 2007

     THIS AMENDMENT NO. 6 (“Amendment”) is made as of June 8, 2009 by and among
Photronics, Inc. (the “Company”), the financial institutions listed on the
signature pages hereof and JPMorgan Chase Bank, National Association, as
Administrative Agent (in such capacity, the “Administrative Agent”) and as
Collateral Agent (in such capacity, the “Collateral Agent”), under that certain
Credit Agreement dated as of June 6, 2007 by and among the Company, the Lenders
and the Administrative Agent (as amended by that certain Amendment No. 1
thereto, dated as of April 25, 2008, that certain Amendment No. 2 thereto, dated
as of October 31, 2008, that certain Amendment No. 3 thereto, dated as of
December 3, 2008, that certain Amendment No. 4 thereto, dated as of December 12,
2008, and that certain Amendment No. 5 thereto, dated as of May 15, 2009, and as
may be further amended, supplemented or otherwise modified from time to time,
the “Credit Agreement”). Capitalized terms used herein and not otherwise defined
herein shall have the respective meanings given to them in the Credit Agreement.

     WHEREAS, the Company has requested that the Lenders, the Administrative
Agent and the Collateral Agent agree to certain amendments to the Credit
Agreement;

     WHEREAS, the Lenders party hereto, the Administrative Agent and the
Collateral Agent have agreed to such amendments on the terms and conditions set
forth herein;

     NOW, THEREFORE, in consideration of the premises set forth above, the terms
and conditions contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company, the
Lenders party hereto, the Administrative Agent and the Collateral Agent have
agreed to enter into this Amendment.

     1. Amendments to Credit Agreement. Effective as of the date of satisfaction
of the conditions precedent set forth in Section 2 below, the Credit Agreement
is hereby amended as follows:

     (a) The definition of “Chinese Facility Sale” appearing in Section 1.01 of
the Credit Agreement is amended to add the parenthetical “(excluding equipment
returned by Photronics China to the Company or any Subsidiary)” to the end
thereof.

     (b) Section 1.01 of the Credit Agreement is amended to add the following
definitions thereto and, where applicable, to replace the corresponding
previously existing definitions:

     “Intercreditor Agreement” means that certain Amended and Restated
Intercreditor Agreement substantially in the form of Exhibit I and entered into
by the Administrative Agent, the Collateral Agent and JPMorgan Chase Bank,
National Association, as administrative agent under the Mirror Facility in
connection with this Agreement and the Mirror Facility Documents, as the same
may be amended, restated, supplemented or otherwise modified from time to time.

--------------------------------------------------------------------------------

     “Mirror Facility” means the $27,204,119 term loan facility evidenced by the
Mirror Facility Agreement.

     “Mirror Facility Agreement” means that certain Loan Agreement by and among
the Company as borrower, the lenders from time to time party thereto and
JPMorgan Chase Bank, National Association as administrative agent and collateral
agent.

     “Mirror Facility Documents” means the Mirror Facility Agreement and the
other instruments and documents related thereto.

     “Mirror Facility Obligations” means the Indebtedness and other obligations
of the Company and its applicable Subsidiaries under the Mirror Facility
Documents, and includes without limitation the “Obligations” as defined in the
Mirror Facility Agreement.

     “Mirror Facility Paydown” means any prepayment, or payment upon maturity,
of the principal amount of loans outstanding under the Mirror Facility prior to
the Maturity Date but excluding (i) the prepayment of loans outstanding under
the Chinese Credit Facility as a result of replacing the Chinese Credit Facility
with the Mirror Facility, (ii) prepayments or payments arising from the Chinese
Facility Sale or from a casualty, condemnation or similar event in respect of
the assets of Photronics China and (iii) a prepayment, to occur on or about
January 31, 2010, of one-third (approximately $9,100,000 but subject to currency
fluctuations) of the outstanding principal amount of the Mirror Facility.

     “Mirror Facility Secured Parties” means the holders of the Mirror Facility
Obligations from time to time and shall include their respective successors,
transferees and assigns.

     “Specified Chinese Assets” means the site or any buildings located at No.
158, Jin Qiu Road, Shanghai (including, for the avoidance of doubt, both
allocated land and granted land) and any other property (whether real, personal,
tangible, intangible, or mixed) of Photronics China reasonably requested by the
Collateral Agent.

     “Specified Intercompany Note” means the intercompany note payable by
Photronics China to the Company and evidencing the intercompany loan from the
Company (with the proceeds of the loans made pursuant to the Mirror Facility
Agreement) to Photronics China to effect the repayment in full of the Chinese
Credit Facility.

     (c) Section 1.01 of the Credit Agreement is amended to delete the
definitions of “Chinese Bridge Facility”, “Chinese Credit Facility Documents”,
“Chinese Credit Facility Guarantee”, “Chinese Credit Facility Guarantee
Obligations”, “Chinese Credit Facility Paydown”, “Chinese Credit Facility
Secured Parties”, “PRC Collateral Documents”, “Synthetic Lenders” and “Synthetic
Rate” appearing therein.

     (d) The Credit Agreement is amended to (i) delete each reference to
“Chinese Credit Facility Documents” appearing therein and to replace each such
reference with “Mirror Facility Documents”, (ii) delete each reference to
“Chinese Credit Facility Guarantee” appearing therein, (iii) delete each
reference to “Chinese Credit Facility Guarantee Obligations” appearing therein
and to replace each such reference with “Mirror Facility Obligations”, (v)
delete each reference to “Chinese Credit Facility Paydown” appearing therein and
to replace each such reference with “Mirror Facility Paydown” and (v) delete
each reference to “Chinese Credit Facility Secured Parties” appearing therein
and to replace each such reference with “Mirror Facility Secured Parties”.

2

--------------------------------------------------------------------------------

     (e) Section 2.11(c) of the Credit Agreement is amended to delete the
reference to “Chinese Credit Facility” appearing in the first proviso thereto
and to replace such reference with “Mirror Facility”.

     (f) Section 2.13(d) of the Credit Agreement is amended and restated in its
entirety to read as “[Intentionally Omitted]”.

     (g) Section 6.01(a) of the Credit Agreement is amended to delete the
reference to “Chinese Credit Facility” appearing therein and to replace such
reference with “Mirror Facility”.

     (h) Section 6.02(a) of the Credit Agreement is amended and restated in its
entirety to read as follows:

     (a) Permitted Encumbrances, Liens created under any Loan Document and Liens
on the Specified Chinese Assets securing the Specified Intercompany Note;

     (i) Section 6.04(d)(i) of the Credit Agreement is amended and restated in
its entirety to read as follows:

     (i) prepay the obligations under the Chinese Credit Facility on the
effective date of, and with the proceeds of the loans under, the Mirror Facility
and

     (j) Section 6.06(b)(iii) of the Credit Agreement is amended and restated in
its entirety to read as follows:

     (iii) payments in respect of the Mirror Facility, and in respect of the
Chinese Credit Facility on the effective date of the Mirror Facility;

     (k) Article VII of the Credit Agreement is amended to add the phrase “,
subject to the terms of the Intercreditor Agreement,” immediately after the
phrase “such funds shall be applied” appearing in the penultimate paragraph
thereof.

     (l) Exhibit I to the Credit Agreement is deleted and replaced with Exhibit
I attached hereto as Annex A.

     2. Conditions of Effectiveness. The effectiveness of this Amendment is
subject to the conditions precedent that (a) the Administrative Agent shall have
received counterparts of this Amendment duly executed by the Company, the
Required Lenders and the Administrative Agent and the Consent and Reaffirmation
attached hereto duly executed by the Subsidiary Guarantors and (b) the Company
shall have paid all of the fees of the Administrative Agent and its affiliates
(including, to the extent invoiced, reasonable attorneys’ fees and expenses of
the Administrative Agent) in connection with this Amendment and the other Loan
Documents.

3

--------------------------------------------------------------------------------

     3. Representations and Warranties of the Company and Acknowledgements and
Confirmations. The Company hereby represents and warrants as follows:

     (a) This Amendment and the Credit Agreement, as amended hereby, constitute
legal, valid and binding obligations of the Company and are enforceable against
the Company in accordance with their terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights
generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at law.

     (b) As of the date hereof and giving effect to the terms of this Amendment,
(i) no Default shall have occurred and be continuing and (ii) the
representations and warranties of the Company set forth in the Credit Agreement,
as amended hereby, are true and correct as of the date hereof.

     (c) The Company (and by its execution of the Consent and Reaffirmation
attached hereto, each Subsidiary Guarantor) hereby acknowledges and confirms
that (i) it does not have any grounds, and hereby agrees not to challenge (or to
allege or to pursue any matter, cause or claim arising under or with respect to)
the effectiveness, genuineness, validity, collectibility or enforceability of
the Credit Agreement or any of the other Loan Documents, the Secured
Obligations, the Liens securing such Secured Obligations, or any of the terms or
conditions of any Loan Document and (ii) it does not possess (and hereby forever
waives, remises, releases, discharges and holds harmless the Lenders, the Agents
and their respective affiliates, stockholders, directors, officers, employees,
attorneys, agents and representatives and each of their respective heirs,
executors, administrators, successors and assigns (collectively, the
“Indemnified Parties”) from and against, and agrees not to allege or pursue) any
action, cause of action, suit, debt, claim, counterclaim, cross-claim, demand,
defense, offset, opposition, demand and other right of action whatsoever,
whether in law, equity or otherwise (which it, all those claiming by, through or
under it, or its successors or assigns, have or may have) against the
Indemnified Parties, or any of them, by reason of, any matter, cause or thing
whatsoever, with respect to events or omissions occurring or arising on or prior
to the date hereof and relating to the Credit Agreement or any of the other Loan
Documents (including, without limitation, with respect to the payment,
performance, validity or enforceability of the Secured Obligations, the Liens
securing the Secured Obligations or any or all of the terms or conditions of any
Loan Document) or any transaction relating thereto.

     4. Reference to and Effect on the Credit Agreement.

     (a) Upon the effectiveness hereof, each reference to the Credit Agreement
in the Credit Agreement or any other Loan Document shall mean and be a reference
to the Credit Agreement as amended hereby.

     (b) Except as specifically amended above, the Credit Agreement and all
other documents, instruments and agreements executed and/or delivered in
connection therewith shall remain in full force and effect and are hereby
ratified and confirmed.

     (c) The execution, delivery and effectiveness of this Amendment shall not
operate as a waiver of any right, power or remedy of the Administrative Agent or
the Lenders, nor constitute a waiver of any provision of the Credit Agreement or
any other documents, instruments and agreements executed and/or delivered in
connection therewith.

     5. Governing Law. This Amendment shall be construed in accordance with and
governed by the law of the State of New York.

     6. Headings. Section headings in this Amendment are included herein for
convenience of reference only and shall not constitute a part of this Amendment
for any other purpose.

4

--------------------------------------------------------------------------------

     7. Counterparts. This Amendment may be executed by one or more of the
parties hereto on any number of separate counterparts, and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument. Signatures delivered by facsimile or PDF shall have the same force
and effect as manual signatures delivered in person.

[Signature Pages Follow]

5

--------------------------------------------------------------------------------

     IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and
year first above written.

PHOTRONICS, INC.,
as the Company

    By:      Name: Title:

Signature Page to Amendment No. 6
Photronics, Inc.
Credit Agreement dated as of June 6, 2007

--------------------------------------------------------------------------------

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
individually as a Lender, as the Swingline Lender, as the Issuing Bank and as
Administrative Agent

    By:      Name: Title:

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
as Collateral Agent

    By:      Name: Title:

Signature Page to Amendment No. 6
Photronics, Inc.
Credit Agreement dated as of June 6, 2007

--------------------------------------------------------------------------------

RBS CITIZENS, NATIONAL ASSOCIATION (successor by merger to Citizens Bank of
Massachusetts), individually as a Lender and as Co-Syndication Agent

    By:      Name: Title:

Signature Page to Amendment No. 6
Photronics, Inc.
Credit Agreement dated as of June 6, 2007

--------------------------------------------------------------------------------

HSBC BANK USA, NATIONAL ASSOCIATION, individually as a Lender and as
Co-Syndication Agent

    By:      Name: Title:

Signature Page to Amendment No. 6
Photronics, Inc.
Credit Agreement dated as of June 6, 2007

--------------------------------------------------------------------------------

CITIBANK, N.A., individually as a Lender and as Co-Syndication Agent

    By:      Name: Title:

Signature Page to Amendment No. 6
Photronics, Inc.
Credit Agreement dated as of June 6, 2007

--------------------------------------------------------------------------------

BANK OF AMERICA, N.A.,
as a Lender

    By:      Name: Title:

Signature Page to Amendment No. 6
Photronics, Inc.
Credit Agreement dated as of June 6, 2007

--------------------------------------------------------------------------------

UBS LOAN FINANCE LLC,
as a Lender

    By:      Name: Title:

    By:      Name: Title:

Signature Page to Amendment No. 6
Photronics, Inc.
Credit Agreement dated as of June 6, 2007

--------------------------------------------------------------------------------

CONSENT AND REAFFIRMATION

     Each of the undersigned hereby acknowledges receipt of a copy of the
foregoing Amendment No. 6 to the Credit Agreement dated as of June 6, 2007 (as
amended by that certain Amendment No. 1 thereto, dated as of April 25, 2008,
that certain Amendment No. 2 thereto, dated as of October 31, 2008, that certain
Amendment No. 3 thereto, dated as of December 3, 2008, that certain Amendment
No. 4 thereto, dated as of December 12, 2008, and that certain Amendment No. 5
thereto, dated as of May 15, 2009, and as may be further amended, supplemented
or otherwise modified from time to time, the “Credit Agreement”) by and among
Photronics, Inc. (the “Company”), the Foreign Subsidiary Borrowers from time to
time party thereto (together with the Company, the “Borrowers”), the financial
institutions from time to time party thereto (the “Lenders”) and JPMorgan Chase
Bank, National Association, as Administrative Agent (the “Administrative
Agent”), which Amendment No. 6 is dated as of June 8, 2009 (the “Amendment”).
Capitalized terms used in this Consent and Reaffirmation and not defined herein
shall have the meanings given to them in the Credit Agreement. Without in any
way establishing a course of dealing by the Administrative Agent or any Lender,
each of the undersigned consents to the Amendment and reaffirms the terms and
conditions of the Subsidiary Guaranty and any other Loan Document executed by it
and acknowledges and agrees that such agreements and each and every such Loan
Document executed by the undersigned in connection with the Credit Agreement
remains in full force and effect and is hereby reaffirmed, ratified and
confirmed. All references to the Credit Agreement contained in the
above-referenced documents shall be a reference to the Credit Agreement as so
modified by the Amendment and as the same may from time to time hereafter be
amended, modified or restated.

Dated: June 8, 2009

[Signature Page Follows]

--------------------------------------------------------------------------------

ALIGN-RITE, INC.            ALIGN-RITE INTERNATIONAL, INC.      By:   By:  
Name:    Name:  Title:  Title:      PHOTRONICS ARIZONA, INC.  PHOTRONICS
CALIFORNIA, INC.      By:   By:   Name:  Name:  Title:  Title:      PHOTRONICS
TEXAS, INC.  PHOTRONICS TEXAS ALLEN, INC. (formerly    known as
Photronics-Toppan Texas, Inc.)    By:     Name:  By:   Title:  Name:    Title: 
    PHOTRONICS TEXAS I, LLC  PHOTRONICS TEXAS I, LP    By: Photronics Texas,
Inc., its Sole Member  By: Photronics Texas, Inc., its General Partner      By:
  By:   Name:  Name:  Title:  Title:      PHOTRONICS TEXAS II, LLC  PHOTRONICS
TEXAS II, LP    By: Photronics-Toppan Texas, Inc., its Sole  By:
Photronics-Toppan Texas, Inc., its General  Member  Partner      By:   By:  
Name:  Name:  Title:  Title: 

Signature Page to Consent and Reaffirmation to Amendment No. 6
Photronics, Inc.
Credit Agreement dated as of June 6, 2007

--------------------------------------------------------------------------------

ANNEX A

Exhibit I to Credit Agreement

[Attached]

--------------------------------------------------------------------------------