Exhibit 10.11

FIRST AMENDMENT TO
FIRST AMENDED AND RESTATED
CREDIT AGREEMENT
This First Amendment to First Amended and Restated Credit Agreement (“Amendment”), dated as of March 6, 2020, is made by and among HSBC BANK USA, NATIONAL ASSOCIATION, as Administrative Agent (in such capacity, “Agent”), the Lenders (as defined in the Credit Agreement, as defined below), and ALLIED MOTION TECHNOLOGIES INC. (“Allied Inc.”) and ALLIED MOTION TECHNOLOGIES B.V. (“Allied B.V.” and collectively with Allied Inc., the “Borrowers”).
Statement of the Premises
The Agent, the Lenders, the Borrowers, HSBC Securities (USA) Inc., KeyBank National Association and Wells Fargo Bank, National Association, as joint lead arrangers, have previously entered into a First Amended and Restated Credit Agreement dated as of February 12, 2020 (the “Credit Agreement”).  All capitalized terms not otherwise defined in this Amendment have the meanings given them in the Credit Agreement.
The Borrowers have advised the Agent and the Lenders that a new Subsidiary, Allied Motion Christchurch Limited was formed to purchase all of the shares of capital stock of Dynamic Controls, a New Zealand incorporated unlimited company (“Dynamic Limited”) and a 1% interest in the share capital of Dynamic Europe Limited, a private limited company organized under the laws of the United Kingdom (the “Acquisition”).  The remaining 99% interest in the share capital of Dynamic Europe Limited is directly owned by Dynamic Limited.
In connection with the Acquisition, the Borrowers have requested that the Agent and the Lenders agree to amend certain terms set forth in the Credit Agreement.
The Agent and the Lenders have agreed to amend the Credit Agreement on the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants set forth herein, and of the loans or other extensions of credit heretofore, now or hereafter made by the Lenders to, or for the benefit of, the Borrowers, the parties hereto agree as follows:
1.Conditions Precedent to this Amendment.  This Amendment shall be effective as of the date first written above once the following conditions precedent are satisfied:
1.1Amendment Documentation.  The Agent shall have received an original of this Amendment executed by the Borrowers and the Required Lenders.
1.2No Default.  As of the date hereof, no Default or Event of Default shall have occurred and be continuing.

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1.3Representations and Warranties.  The representations and warranties contained in the Credit Agreement shall be true, correct and complete as of the date hereof as though made on such date, except to the extent such representations and warranties are expressly limited to a specific date.

2.Amendments.  Schedule 7.01 entitled “Existing Liens” is amended to add the following:

	Dynamic Controls
	Pledge of account number 007-006414-058 with The Hongkong and Shanghai Banking Corporation Limited to secure a $150,000 NZD credit card line (such credit cards being issued by ANZ Bank) and a local bank encashment of up to $1,000 NZD.




3.Reaffirmations.  The Borrowers hereby acknowledge and reaffirm the execution and delivery of the Security Documents to which they are parties and agree that such Security Documents shall continue in full force and effect and continue to secure the Obligations, including all indebtedness of the Borrowers to the Agent, the Lenders and the Issuing Bank arising under or in connection with the Credit Agreement, as amended hereby, and any renewal, extension or modification thereof.
4.Representations and Warranties.  Each Borrower makes the following representations and warranties to the Agent and the Lenders which shall be deemed to be continuing representations and warranties so long as any Obligations, including indebtedness of either Borrower to Agent or the Lenders arising under the Credit Agreement or any Loan Documents, remain unpaid:

(a)Authorization.  Such Borrower has full power and authority to execute, deliver and perform this Amendment, which has been duly authorized by all proper and necessary action.  The execution and delivery of this Amendment by such Borrower will not violate the provisions of, or cause a default under, such Borrower’s Organizational Documents or any agreement to which such Borrower is a party or by which it or its assets are bound.
(b)Binding Effect.  This Amendment has been duly executed and delivered by such Borrower and constitutes the legal, valid and binding obligation of such Borrower enforceable in accordance with its terms, except as enforceability may be limited by applicable Debtor Relief Laws.
(c)Consents; Governmental Approvals.  No consent, approval or authorization of, or registration, declaration or filing with, any governmental body or authority or any other party is required in connection with the valid execution, delivery or performance of this Amendment or any other document executed and delivered herewith or in connection with any other transactions contemplated hereby.

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(d)No Events of Default.  There is, on the date hereof, no event or condition which constitutes an Event of Default under any of the Loan Documents or which, with notice and/or the passage of time, would constitute an Event of Default.
(e)No Material Misstatements.  Neither this Amendment nor any document delivered to the Agent or the Lenders by or on behalf of such Borrower to induce the Agent and the Lenders to enter into this Amendment or otherwise in connection with this Amendment contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements herein or therein not misleading in light of the circumstances in which they were made.
(f)Credit Agreement.  The representations and warranties of such Borrower set forth in Article 5 of the Credit Agreement are true and correct on and as of the date hereof with the same force and effect as if made on and as of such date.

5.Conditions of Effectiveness.  This Amendment shall become effective when and only when the Agent shall have received counterparts of this Amendment executed by the Borrowers, the Agent and the Required Lenders.
6.Reference to and Effect on Loan Documents.

(a)Upon the effectiveness hereof, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each reference in the Loan Documents to the Credit Agreement shall mean and be a reference to the Credit Agreement as amended by this Amendment.
(b)The Credit Agreement, as amended by this Amendment, represents the entire understanding and agreement between the parties hereto with respect to the subject matter hereof.  This Amendment supersedes all prior negotiations and any course of dealing between the parties with respect to the subject matter hereof.  This Amendment shall be binding upon each Borrower and its successors and assigns, and shall inure to the benefit of, and be enforceable by, the Agent, the Lenders and each of their successors and assigns.  The Credit Agreement, as amended hereby, is in full force and effect and, as so amended, is hereby ratified and reaffirmed in its entirety.  Each Borrower acknowledges and agrees that the Credit Agreement (as amended by this Amendment) and all other Loan Documents to which such Borrower is a party are in full force and effect, that such Borrower’s obligations thereunder and under this Amendment are its legal, valid and binding obligations, enforceable against it in accordance with the terms thereof and hereof, and that such Borrower has no defense, whether legal or equitable, setoff or counterclaim to the payment and performance of such obligations.
(c)Except as specifically set forth in this Amendment, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Agent or the Lenders under the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement.

7.Costs and Expenses.  Borrowers agree to pay on demand all costs and expenses of the Agent and the Lenders in connection with the preparation, execution and delivery of this 

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Amendment, including the fees and out-of-pocket expenses of counsel for the Agent and the Lenders.
8.Governing Law.  This Amendment shall be governed and construed in accordance with the laws of the State of New York without regard to any conflicts-of-laws rules which would require the application of the laws of any other jurisdiction.
9.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.
10.Execution in Counterparts.  This Amendment may be executed in any number of counterparts, and by the parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same agreement.  This Amendment, to the extent signed and delivered by means of a facsimile machine or e-mail scanned image, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person.  At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties.  No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine or e-mail scanned image to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or by e-mail as a defense to the formation of a contract and each party forever waives such defense.

[Signature Pages Follow]
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective representatives thereunto duly authorized, as of the date first above written.
ALLIED MOTION TECHNOLOGIES INC.
By:/s/ Michael R. Leach​ ​​ ​​ ​​ ​
Name:Michael R. Leach
Title:Chief Financial Officer
ALLIED MOTION TECHNOLOGIES B.V.
By:  /s/ H. R. Nugteren​ ​​ ​​ ​
Name: H. R. Nugteren
Title:Director
  ​
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[Signature Page to First Amendment to First Amended and Restated Credit Agreement]
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ADMINISTRATIVE AGENT:
HSBC BANK USA, NATIONAL
ASSOCIATION, AS ADMINISTRATIVE AGENT
By: /s/ Daniel Gonzales​ ​​ ​​ ​
Name:Daniel Gonzales
Title:AVP
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[Signature Page to First Amendment to First Amended and Restated Credit Agreement]
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LENDERS:
HSBC BANK USA, NATIONAL
ASSOCIATION, AS A LENDER, L/C ISSUER
By:/s/Alex Caldiero​ ​​ ​​ ​​ ​
Name:Alex Caldiero
Title:  VP Global Relationship Manager
​

[Signature Page to First Amendment to First Amended and Restated Credit Agreement]
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KEYBANK NATIONAL ASSOCIATION
By:  /s/ Mark F. Wachowiak​ ​​ ​​ ​
Name:Mark F. Wachowiak
Title:SVP

[Signature Page to First Amendment to First Amended and Restated Credit Agreement]
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WELLS FARGO BANK, NATIONAL ASSOCIATION
By:  /s/ Andrew Zielinski​ ​​ ​​ ​​ ​
Name:  Andrew Zielinski
Title:    SVP
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[Signature Page to First Amendment to First Amended and Restated Credit Agreement]
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CITIZENS BANK, N.A.
By:  /s/ Edmund E. Mielcarek Jr.​ ​​ ​​ ​
Name:Edmund E. Mielcarek Jr.
Title:Sr. Vice President
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[Signature Page to First Amendment to First Amended and Restated Credit Agreement]
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JPMORGAN CHASE BANK, N.A.
By:  /s/ Karen L. Mikols​ ​​ ​​ ​​ ​
Name:  Karen L. Mikols
Title:    Authorized Officer

[Signature Page to First Amendment to First Amended and Restated Credit Agreement]
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