Exhibit 10.1

EXECUTION COPY

AMENDMENT NO. 3 TO

AMENDED AND RESTATED CREDIT AGREEMENT

This Amendment No. 3 to Amended and Restated Credit Agreement, dated as of
February 25, 2019 (this “Amendment”), is among Lam Research Corporation, a
Delaware corporation, as borrower (the “Borrower”), the Lenders party hereto and
JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”).
Capitalized terms used but not otherwise defined herein shall have the
definitions provided therefor in the Credit Agreement referenced below.

W I T N E S S E T H:

WHEREAS, the Borrower, the Lenders from time to time party thereto and the
Administrative Agent are parties to that certain Amended and Restated Credit
Agreement, dated as of November 10, 2015 (as amended, restated, amended and
restated, supplemented and/or otherwise modified from time to time prior to the
date hereof, the “Existing Credit Agreement” and, as amended by this Amendment,
the “Credit Agreement”); and

WHEREAS, the Borrower has requested that the Administrative Agent and the
Lenders party hereto agree to make certain amendments to the Existing Credit
Agreement and the Administrative Agent and the requisite Lenders have so agreed
upon the terms and subject to the conditions set forth herein;

NOW, THEREFORE, in consideration of the mutual agreements, provisions and
covenants contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

1. Amendments to the Existing Credit Agreement. The parties hereto agree that
the Existing Credit Agreement is hereby amended as follows upon the satisfaction
of the conditions set forth in Section 2 below:

(a) Section 1.01 of the Existing Credit Agreement is hereby amended to
(i) delete the term “Capitalization Covenant” appearing therein and (ii) amend
and restate the following existing definitions, or add the following new
definitions in their appropriate alphabetical order, as the case may be:

“Consolidated Adjusted EBITDA” means, for any period, an amount determined for
the Borrower and its Subsidiaries on a consolidated basis equal to
(i) Consolidated Adjusted Net Income, plus (ii) the sum, without duplication, to
the extent not already added in the definition of Consolidated Adjusted Net
Income, of the amounts for such period of (a) consolidated interest expense of
the Borrower and its Subsidiaries, plus (b) provisions for taxes based on
income, plus (c) total depreciation expense, plus (d) total amortization
expense, plus (e) losses from dispositions of assets or liabilities outside of
the ordinary course of business, plus (f) other non-cash items reducing
Consolidated Adjusted Net Income (excluding any such non-cash item to the extent
that it represents an accrual or reserve for potential cash items in any future
period or amortization of a prepaid cash item that was paid in a prior period),
plus (g) unusual or non-recurring charges arising from the restructuring or
rationalization of product lines, minus (iii) the sum, without duplication, to
the extent not already deducted in the definition of Consolidated Adjusted Net
Income, of the amounts for such period of (a) other non-cash items increasing
Consolidated Adjusted Net Income for such period (excluding any such

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non-cash item to the extent it represents the reversal of an accrual or reserve
for potential cash item in any prior period), plus (b) interest income, plus
(c) other income, plus (d) gains from dispositions of assets or liabilities
outside of the ordinary course of business for such period. If during such
period, the Borrower or any of its Subsidiaries shall have made an acquisition
or disposition for consideration in excess of $50,000,000, Consolidated Adjusted
EBITDA for such period shall be calculated on a pro forma basis in accordance
with Section 1.04(b).

“Leverage Covenant” has the meaning assigned to such term in Section 6.05.

“Third Amendment Effective Date” means February 25, 2019.

(b) Section 1.04 of the Existing Credit Agreement is hereby amended to add the
following as a new clause (c) thereof:

(c) Notwithstanding anything to the contrary contained in Section 1.04(a) or in
this Agreement, in the event of an accounting change regarding which leases are
required to be capitalized, those leases in existence on the Third Amendment
Effective Date that would constitute capital leases in conformity with GAAP on
the Third Amendment Effective Date shall be considered capital leases, and all
calculations and deliverables under this Agreement or any other Loan Document
shall be made or delivered, as applicable, in accordance therewith.

(c) Section 6.01(h) of the Existing Credit Agreement is hereby amended and
restated in its entirety to read as follows:

(h) Indebtedness of any Subsidiary that is a Loan Party so long as, at the time
of the incurrence thereof and after giving effect thereto (on a pro forma
basis), the Borrower is in pro forma compliance with the Leverage Covenant;

(d) Section 6.05 of the Existing Credit Agreement is hereby amended and restated
in its entirety to read as follows:

SECTION 6.05. Financial Covenant. The Borrower will not permit the ratio,
determined as of the end of each of its fiscal quarters ending on and after
December 23, 2018, of (i) Consolidated Total Indebtedness to (ii) Consolidated
Adjusted EBITDA for the four fiscal quarter period then ended to be greater than
3.50 to 1.00 (the “Leverage Covenant”).

2. Conditions Precedent. This Amendment shall be effective upon the date on
which each of the following conditions have been satisfied (or waived) in
accordance with the terms therein:

(a) Executed Amendment. The Administrative Agent shall have received a
counterpart of this Amendment, duly executed by the Borrower, the Required
Lenders and the Administrative Agent.

(b) Fees and Expenses. All costs and expenses (including, without limitation,
legal fees and expenses of counsel to the Administrative Agent), to the extent
invoiced at least two Business Days prior to the Third Amendment Effective Date,
payable to the Administrative Agent shall have been paid on or prior to the
Third Amendment Effective Date.

 

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3. Representations and Warranties. To induce the Administrative Agent and the
Lenders party hereto to enter into this Amendment, the Borrower hereby
represents and warrants to the Administrative Agent and the Lenders, that:

(a) This Amendment and the Credit Agreement as modified hereby constitute legal,
valid and binding obligations of the Borrower, enforceable in accordance with
their respective 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 after giving effect to the terms of this
Amendment, (i) no Default or Event of Default has occurred and is continuing and
(ii) the representations and warranties of the Borrower set forth in the Loan
Documents (as amended hereby, but excluding the representations and warranties
set forth in Sections 3.04(b) and 3.06(a) of the Credit Agreement) are true and
correct in all material respects (or in all respects if such representation or
warranty is qualified by Material Adverse Effect or other materiality qualifier)
with the same effect as though made on and as of the date hereof, except to the
extent that any such representation or warranty specifically refers to an
earlier date, in which case such representation or warranty is true and correct
in all material respects (or in all respects if such representation or warranty
is qualified by Material Adverse Effect or other materiality qualifier) as of
such earlier date.

4. Reference to and Effect on the Credit Agreement.

(a) Upon the Third Amendment Effective Date and except as expressly set forth
herein, each reference in the Credit Agreement and the other Loan Documents to
“this Agreement”, “hereunder”, “hereof’ or words of like import referring to the
Credit Agreement shall mean and be a reference to the Credit Agreement, as
specifically amended by this Amendment.

(b) 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 reaffirmed, ratified and confirmed.

(c) Except with respect to the subject matter hereof, 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.

(d) This Amendment is a Loan Document under (and as defined in) the Credit
Agreement.

5. Miscellaneous.

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

(b) 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.

 

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(c) 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.
Delivery of an executed counterpart of a signature page of this Amendment by
facsimile, PDF or any other electronic means that reproduces an image of the
actual executed signature page shall be effective as delivery of a manually
executed counterpart of this Amendment.

[Remainder of Page Intentionally Left Blank]

 

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

 

LAM RESEARCH CORPORATION,

as the Borrower

By:  

/s/ Douglas R. Bettinger

Name:   Douglas R. Bettinger Title:   Executive Vice President and Chief
Executive Officer

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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JPMORGAN CHASE BANK, N.A.,

individually as a Lender and as Administrative Agent

By:  

/s/ Alex McKindra

Name:   Alex McKindra Title:   Managing Director

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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Name of Lender:

Bank of America, N.A.    

By  

/s/ Janet Fung    

  Name:   Janet Fung   Title:   VP

 

  For any Lender requiring a second signature line:

  By      

          

Name:

   

Title:

 

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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Name of Lender:

GOLDMAN SACHS BANK USA    

By  

/s/ Jamie Minieri    

  Name:   Jamie Minieri   Title:   Authorized Signatory

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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Name of Lender:

BARCLAYS BANK PLC    

By  

/s/ Craig J. Malloy    

  Name:   Craig J. Malloy   Title:   Director

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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Name of Lender:

Citibank, N.A.

By  

/s/ Carmen-Christina Kelleher

  Name:   Carmen-Christina Kelleher   Title:   Vice President

 

  For any Lender requiring a second signature line:

  By  

 

           Name:   Title:

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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Name of Lender:

HSBC Bank USA, National Association

By  

/s/ Sam Stockwin

  Name:   Sam Stockwin   Title:   Vice President

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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Name of Lender:

MUFG Bank, Ltd.

f/k/a The Bank of Tokyo-Mitsubishi UFJ, Ltd.

     

By  

/s/ Aileen Supeña Throne

  Name:   Aileen Supeña Throne   Title:   Director

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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Name of Lender:

Wells Fargo, N.A.

By  

/s/ Elizabeth Gaynor

  Name:   Elizabeth Gaynor   Title:   Director

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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Name of Lender:

SUNTRUST BANK

By  

/s/ Christian Sumulong

  Name:   Christian Sumulong   Title:   Vice President

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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Name of Lender:

DEUTSCHE BANK AG NEW YORK BRANCH

By  

/s/ Ming K. Chu

  Name:   Ming K. Chu   Title:   Director

 

For any Lender requiring a second signature line: By  

/s/ Annie Chung

  Name:   Annie Chung   Title:   Director

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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Name of Lender:

BNP Paribas    

By  

/s/ Gregory Paul    

  Name:   Gregory Paul   Title:   Managing Director

 

For any Lender requiring a second signature line: By  

/s/ Liz Cheng

  Name:   Liz Cheng   Title:   Vice President

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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PNC Bank, National Association, as a Lender     By  

/s/ Scott W. Miller    

  Name:   Scott W. Miller   Title:   Vice President

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation

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Name of Lender:

MIZUHO BANK, LTD.    

By  

/s/ Donna DeMagistris    

  Name:   Donna DeMagistris   Title:   Authorized Signatory

 

Signature Page to Amendment No. 3 to

Amended and Restated Credit Agreement dated as of November 10, 2015

Lam Research Corporation