Exhibit 10.1

EXECUTION VERSION

WAIVER AND CONSENT TO AMENDED AND RESTATED CREDIT AGREEMENT

This WAIVER AND CONSENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Waiver”)
is dated as of August 7, 2014 (the “Effective Date”), among L-3 COMMUNICATIONS
CORPORATION, a Delaware corporation (“Borrower”), and the Required Lenders party
hereto (the “Required Lenders”). This Waiver is made with reference to that
certain Amended and Restated Credit Agreement, dated as of February 3, 2012 (as
amended, restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”) among the Borrower, the certain Guarantors party thereto,
the Lenders party thereto, and BANK OF AMERICA, N.A. (together with its
permitted successors), as Administrative Agent. All capitalized terms used
herein and not otherwise defined shall have the meanings assigned to such terms
in the Credit Agreement.

WITNESSETH:

WHEREAS, pursuant to Section 7.01(ii) of the Credit Agreement, the Borrower is
required to deliver to the Administrative Agent the quarterly financial reports
described therein, within 45 days after the end of each fiscal quarter of the
Borrower (except with respect to the fourth quarter of each fiscal year);

WHEREAS, the Borrower has requested that the Required Lenders waive compliance
with the 45-day requirement under Section 7.01(ii) of the Credit Agreement for
delivery of the Borrower’s quarterly financial reports for the fiscal quarter
ending June 27, 2014 (such quarterly financial reports, the “Specified
Financials” and such delivery requirement with respect to such fiscal quarter
only, the “Specified Delivery Requirement”), and consent to the delivery by the
Borrower of the Specified Financials no later than September 25, 2014;

WHEREAS, the Required Lenders have agreed to provide this Waiver as set forth
herein under the Credit Agreement;

NOW, THEREFORE, the parties hereto agree as follows:

ARTICLE I

SECTION 1.01 Waiver and Consent. On the terms and subject to the conditions set
forth herein and in reliance upon the representations and warranties of the
Borrower set forth in Article III hereof, the Required Lenders hereby (a) waive
the Specified Delivery Requirement and (b) consent to the delivery of the
Specified Financials on or prior to September 25, 2014.

The foregoing is effective solely for the purposes expressly set forth herein
and shall be limited precisely as written and shall not be in any event deemed
(i) to constitute a waiver or modification of any other term or condition of the
Credit Agreement or any other Loan Document or (ii) except as expressly set
forth herein, to prejudice any right or remedy that the Administrative Agent or
the Lenders may have at any time under or in connection with the Credit
Agreement or any other Loan Document.

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ARTICLE II

SECTION 2.01 Conditions to Effectiveness. This Waiver shall become effective
(the “Waiver Effective Date”) when the following conditions are satisfied:

(a) the Administrative Agent shall have received counterparts of this Waiver
executed by the Borrower, the Required Lenders and the Guarantors;

(b) after giving effect to this Waiver, the representations and warranties set
forth in Article III of this Waiver shall be true and correct in all material
respects on and as of the Waiver Effective Date, to the same extent as though
made on and as of that date, except to the extent that such representations and
warranties specifically refer to an earlier date, in which case they shall be
true and correct in all material respects as of such earlier date; and

(c) both before and after giving effect to this Waiver, no Default or Event of
Default has occurred and is continuing.

ARTICLE III

The Borrower represents and warrants to the Administrative Agent and each of the
Lenders that:

SECTION 3.01 Authorization; Enforceability. The Waiver to be entered into by
each Loan Party is within such Loan Party’s corporate powers and has been duly
authorized by all necessary corporate action on the part of such Loan Party.
This Waiver has been duly executed and delivered by each Loan Party and
constitutes a legal, valid and binding obligation of such Loan Party,
enforceable in accordance with its terms, subject to the effects of bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other similar
laws relating to or affecting creditors’ rights generally, general equitable
principles (whether considered in a proceeding in equity or at law) and an
implied covenant of good faith and fair dealing.

SECTION 3.02 No Conflicts. Except as could not reasonably be expected to,
individually or in the aggregate, have a Material Adverse Effect, the execution
and delivery of this Waiver (a) will not violate any Law or any Contractual
Obligation applicable to or binding upon Holdings, the Borrower or any
Subsidiary of the Borrower or any of their respective properties or assets,
(b) will not violate any provision of any Organization Document of Holdings, the
Borrower or any Subsidiary of the Borrower and (c) will not result in the
creation or imposition of any Lien on any of its properties or assets pursuant
to any Law applicable to it or any of its Contractual Obligations.

SECTION 3.03 No Default. No Default or Event of Default exists, or would result
from the transactions contemplated by this Waiver, after giving effect to this
Waiver.

SECTION 3.04 Representations and Warranties. The representations and warranties
of the Borrower and each other Loan Party contained in Article VI of 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 shall be true and correct in all material respects as of such earlier
date.

 

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ARTICLE IV

SECTION 4.01 Acknowledgement and Consent By the Guarantors. Each Guarantor
hereby acknowledges that it has read this Waiver and consents to the terms
hereof and further confirms and agrees that, notwithstanding the effectiveness
of this Waiver, its obligations under the Credit Agreement and the other Loan
Documents shall not be impaired or affected and such obligations are, and shall
continue to be, in full force and effect and are hereby confirmed and ratified
in all respects.

ARTICLE V

SECTION 5.01 Miscellaneous.

(a) Governing Law. This Waiver shall be construed in accordance with and
governed by the law of the State of New York. This Waiver shall constitute a
Loan Document and shall be administered and construed pursuant to the terms of
the Credit Agreement (including, without limitation, Article XI thereof).

(b) Headings. Article and Section headings used herein are for convenience of
reference only, are not part of this Waiver and shall not affect the
construction of, or be taken into consideration in interpreting, this Waiver.

(c) Severability. Any provision of this Waiver held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such invalidity, illegality or unenforceability without
affecting the validity, legality and enforceability of the remaining provisions
hereof; and the invalidity of a particular provision in a particular
jurisdiction shall not invalidate such provision in any other jurisdiction.

(d) Counterparts. This Waiver may be executed in counterparts (and by different
parties hereto in different counterparts), each of which shall constitute an
original, but all of which when taken together shall constitute a single
contract. Delivery of an executed counterpart of a signature page of this Waiver
by fascimile or electronic transmission shall be effective as delivery of a
manually executed counterpart of this Waiver.

[Signature Pages Follow]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Waiver to be duly
executed by their respective authorized officers as of the day and year first
above written.

 

L-3 COMMUNICATIONS CORPORATION By:   /s/ Stephen M. Souza Name:   Stephen M.
Souza Title:   Vice President and Treasurer

[Signature Page to Waiver and Consent]

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Bank of America, N.A., as a Lender By:   /s/ Kenneth J. Beck Name: Kenneth J.
Beck Title:   Director

[Signature Page to Waiver and Consent]

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  LENDER CONSENT   THE BANK OF NOVA SCOTIA By:  

/s/ Michelle C. Phillips

Name:   Michelle C. Phillips Title:   Director & Execution Head

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  SCOTIABANC INC., as a Lender By:  

/s/ J.F. Todd

Name:   J.F. Todd Title:   Managing Director

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  LENDER CONSENT   The Bank of Tokyo-Mitsubishi UFJ, LTD.   as a Lender By:  

/s/ George Stoecklein

Name:   George Stoecklein Title:   Director

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  LENDER CONSENT  

Barclays Bank PLC

  as a Lender By:  

/s/ Gregory Fishbein

Name:   Gregory Fishbein Title:   Assistant Vice President

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  LENDER CONSENT  

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,

as a Lender

By:  

/s/ Mark Koneval

Name:   Mark Koneval Title:   Managing Director By:  

/s/ Dan Fahey

Name:   Dan Fahey Title:   Vice President

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DEUTSCHE BANK AG NEW YORK BRANCH,

as a Lender

By:  

/s/ Ming K. Chu

Name:   Ming K. Chu Title:   Vice President By:  

/s/ John S. McGill

Name:   John S. McGill Title:   Director

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  LENDER CONSENT   U.S. BANK NATIONAL ASSOCIATION   as a Lender By:  

/s/ Mark Irey

Name:   MARK IREY Title:   VP

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  LENDER CONSENT  

SunTrust Bank,

as a Lender

By:  

/s/ David Simpson

Name:   David Simpson Title:   Vice President

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  LENDER CONSENT  

WELLS FARGO BANK, N.A.,

  as a Lender By:  

/s/ Eric Frandson

Name:   Eric Frandson Title:   Managing Director

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  LENDER CONSENT  

Australia and New Zealand Banking Group Limited

  as a Lender By:  

/s/ Robert Grillo

Name:   Robert Grillo Title:   Director

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THE BANK OF NEW YORK MELLON,

as a Lender

By:  

/s/ David B. Wirl

Name:   David B. Wirl Title:   Managing Director

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  LENDER CONSENT  

HSBC Bank USA, N.A.

  as a Lender By:  

/s/ Randolph E. Cates

Name:   Randolph E. Cates Title:   Senior Vice President

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  SUMITOMO MITSUI BANKING CORPORATION,   as a Lender By:  

/s/ David W. Kee

Name:   David W. Kee Title:   Managing Director

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  Branch Banking & Trust Company, as a Lender By:  

/s/ James E. Davis

Name:   James E. Davis Title:   Senior Vice President

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  LENDER CONSENT  

Comerica Bank

  as a Lender By:  

/s/ Matthew A. Rybinski

Name:   Matthew A. Rybinski Title:   Vice President

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Acknowledged and Agreed:

 

GUARANTORS:

 

L-3 COMMUNICATIONS HOLDINGS, INC.,
a Delaware corporation

By:   /s/ Stephen M. Souza

Name:

Title:

 

Stephen M. Souza

Vice President and Treasurer

[Signature Page to Waiver and Consent]

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GUARANTORS:

BROADCAST SPORTS INC.,

a Delaware corporation

ELECTRODYNAMICS, INC.,

an Arizona corporation

FUNA INTERNATIONAL, INC.,

a Florida corporation

INTERSTATE ELECTRONICS CORPORATION,

a California corporation

L-3 COMMUNICATIONS AIS GP CORPORATION,

a Delaware corporation

L-3 COMMUNICATIONS AVIONICS SYSTEMS, INC.,

a Delaware corporation

L-3 COMMUNICATIONS CINCINNATI ELECTRONICS

CORPORATION, an Ohio corporation

L-3 COMMUNICATIONS DYNAMIC POSITIONING

AND CONTROL SYSTEMS, INC., a California corporation

L-3 COMMUNICATIONS ELECTRON

TECHNOLOGIES, INC., a Delaware corporation

L-3 COMMUNICATIONS EO/IR, INC.,

a Florida corporation

L-3 COMMUNICATIONS ESSCO, INC.,

a Delaware corporation

L-3 COMMUNICATIONS FOREIGN HOLDINGS, INC.,

a Delaware corporation

L-3 COMMUNICATIONS INVESTMENTS INC.,

a Delaware corporation

L-3 COMMUNICATIONS KLEIN ASSOCIATES, INC.,

a Delaware corporation

L-3 COMMUNICATIONS MARIPRO, INC.,

a California corporation

L-3 COMMUNICATIONS MOBILE-VISION, INC.,

a New Jersey corporation

L-3 COMMUNICATIONS SECURITY AND DETECTION

SYSTEMS, INC., a Delaware corporation

L-3 COMMUNICATIONS SONOMA EO, INC.,

a California corporation

 

By:   /s/ Stephen M. Souza Name:   Stephen M. Souza Title:   Vice President and
Treasurer of each of the foregoing entities listed under the caption
“Guarantors”

 

[Signature Page to Waiver and Consent]

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GUARANTORS:

L-3 COMMUNICATIONS WESTWOOD

CORPORATION, a Nevada corporation

L-3 APPLIED TECHNOLOGIES, INC.,

a Delaware corporation

L-3 CHESAPEAKE SCIENCES CORPORATION,

a Maryland corporation

L-3 DOMESTIC HOLDINGS, INC.,

a Delaware corporation

L-3 FUZING AND ORDNANCE SYSTEMS, INC.,

a Delaware corporation

L-3 G.A. INTERNATIONAL, INC.,

a Florida corporation

L-3 NATIONAL SECURITY SOLUTIONS, INC.,

a Delaware corporation

L-3 ADVANCED PROGRAMS, INC.,

a Delaware corporation

L-3 UNIDYNE, INC.,

a Delaware corporation

L-3 UNMANNED SYSTEMS, INC.,

a Texas corporation

PAC ORD INC.,

a Delaware corporation

POWER PARAGON, INC.,

a Delaware corporation

SPD ELECTRICAL SYSTEMS, INC.,

a Delaware corporation

SPD SWITCHGEAR INC.,

a Delaware corporation

TITAN FACILITIES, INC.,

a Virginia corporation

 

By:   /s/ Stephen M. Souza Name:   Stephen M. Souza Title:   Vice President and
Treasurer of each of the foregoing entities listed under the caption
“Guarantors”

 

[Signature Page to Waiver and Consent]

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L-3 COMMUNICATIONS INTEGRATED SYSTEMS L.P.,

a Delaware limited liability partnership

By: L-3 COMMUNICATIONS AIS GP CORPORATION,

as General Partner

 

By:   /s/ Stephen M. Souza

Name:

Title:

 

Stephen M. Souza

Vice President and Treasurer

L-3 COMMUNICATIONS GERMANY HOLDINGS, LLC

a Delaware limited liability company

By: L-3 COMMUNICATIONS CORPORATION,

as Sole Member

 

By:   /s/ Stephen M. Souza Name:   Stephen M. Souza Title:   Vice President and
Treasurer

L-3 COMMUNICATIONS VERTEX AEROSPACE LLC,

a Delaware limited liability company

 

By: L-3 COMMUNICATIONS

   INTEGRATED SYSTEMS L.P., as Sole Member

 

By: L-3 COMMUNICATIONS AIS GP

   CORPORATION, as General Partner

 

By:   /s/ Stephen M. Souza

Name:

Title:

 

Stephen M. Souza

Vice President and Treasurer

 

[Signature Page to Waiver and Consent]

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L-3 COMMUNICATIONS FLIGHT CAPITAL LLC,

L-3 COMMUNICATIONS FLIGHT INTERNATIONAL

AVIATION LLC,

L-3 COMMUNICATIONS VECTOR INTERNATIONAL

AVIATION LLC,

each a Delaware limited liability company

 

By: L-3 COMMUNICATIONS VERTEX

   AEROSPACE LLC, as Sole Member

 

By: L-3 COMMUNICATIONS INTEGRATED

   SYSTEMS L.P., as Sole Member

 

By: L-3 COMMUNICATIONS AIS GP

     CORPORATION, as General Partner

 

By:  

/s/ Stephen M. Souza

Name:

Title:

 

Stephen M. Souza

Vice President and Treasurer

 

[Signature Page to Waiver and Consent]

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Acknowledged and Agreed:

 

BANK OF AMERICA, N.A., as Administrative Agent By:   /s/ Kenneth J. Beck Name:  
Kenneth J. Beck Title:   Director

 

[Signature Page to Waiver and Consent]