Document:

Amendment No. 1 to the Credit Agreement

 Exhibit 10.1 
 FIRST AMENDMENT TO CREDIT AGREEMENT AND FIRST AMENDMENT TO 
 SECURITY AGREEMENT

 THIS FIRST AMENDMENT TO CREDIT AGREEMENT AND FIRST AMENDMENT TO SECURITY AGREEMENT (this “First Amendment”),
dated as of April 25, 2012, is among GLOBAL POWER EQUIPMENT GROUP INC., a Delaware corporation (the “Borrower”), each of the GRANTORS (as defined in the Security Agreement), WELLS FARGO BANK, NATIONAL ASSOCIATION, as
Administrative Agent for the Lenders, Swingline Lender and Issuing Lender (the “Administrative Agent”) and as Secured Creditor (as defined in the Security Agreement), and the LENDERS (as defined in the Credit Agreement defined
below), signing this First Amendment. 
 BACKGROUND 

A. The Borrower, the Lenders and the Administrative Agent are parties to that certain Credit Agreement, dated as of February 12,
2012 (the “Credit Agreement”). The terms defined in the Credit Agreement and not otherwise defined herein shall be used herein as defined in the Credit Agreement. 

B. The Borrower has requested certain amendments to (i) the Credit Agreement and (ii) a schedule to the Security Agreement.

 C. The Lenders and the Administrative Agent hereby agree to amend the Credit Agreement, subject to the terms and conditions
set forth herein. 
 D. The Secured Creditor and the Grantors hereby agree to amend the Security Agreement, subject to the terms
and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the covenants, conditions and agreements hereafter set
forth, and for other good and valuable consideration, the receipt and adequacy of which are all hereby acknowledged, the Borrower, the Grantors (as defined in the Security Agreement), the Required Lenders and the Administrative Agent covenant and
agree as follows: 
 1. AMENDMENTS TO CREDIT AGREEMENT. 

(a) The definition of “Consolidated Funded Indebtedness” set forth in Section 1.1 of the Credit Agreement is
hereby amended to read as follows 
 “Consolidated Funded Indebtedness” means, on any date of
determination, the Dollar Amount of outstanding principal amount of all Indebtedness of the Borrower and its Subsidiaries of the type described in clauses (a), (b), (c), (e) and (f) (provided such obligations are not contingent on
such date and excluding (i) undrawn obligations under Letters of Credit and (ii) obligations in respect of surety bonds and performance bonds, in each case to the extent the Borrower and its Subsidiaries have no direct liability therefor)
of the definition of “Indebtedness”, and, without duplication, any Guaranty Obligation of the foregoing. 

  
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 (b) The definition of “Guaranty Obligation” set forth in
Section 1.1 of the Credit Agreement is hereby amended to read as follows: 
 “Guaranty
Obligation” means, with respect to the Borrower and its Subsidiaries, without duplication, any obligation, contingent or otherwise, of any such Person pursuant to which such Person has directly or indirectly guaranteed any Indebtedness or
other obligation of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of any such Person (a) to purchase or pay (or advance or supply funds for the purchase or
payment of) such Indebtedness or other obligation (whether arising by virtue of partnership arrangements, by agreement to keep well, to purchase assets, goods, securities or services, to take or pay, or to maintain financial statement condition or
otherwise) or (b) entered into for the purpose of assuring in any other manner the obligee of such Indebtedness or other obligation of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part);
provided, that the term Guaranty Obligation shall not include (a) endorsements for collection or deposits in the ordinary course of business or (b) performance guaranties provided by (i) the Borrower on behalf of a Subsidiary or
(ii) a Subsidiary on behalf of the Borrower or another Subsidiary, in each case of clauses (i) and (ii), in the ordinary course of business. 
 (c) The definition of “Indebtedness” set forth in Section 1.1 of the Credit Agreement is hereby amended to read as follows: 

“Indebtedness” means, with respect to any Person at any date and without duplication, the sum of the
following: 
 (a) all liabilities, obligations and indebtedness for borrowed money including, but not limited to,
obligations evidenced by bonds, debentures, notes or other similar instruments of any such Person; 
 (b) all
obligations to pay the deferred purchase price of property or services of any such Person (including, without limitation, all obligations under non-competition, earn-out or similar agreements), except trade payables arising in the ordinary course of
business not more than ninety (90) days past due, or that are currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity with GAAP have been provided for on the books of such Person and
accrued liabilities incurred in the ordinary course of business; 
 (c) the Attributable Indebtedness of such
Person with respect to such Person’s obligations in respect of Capital Leases and Synthetic Leases (regardless of whether accounted for as indebtedness under GAAP); 

(d) all obligations of such Person under conditional sale or other title retention agreements relating to property
purchased by such Person to the extent of the value of such property (other than customary reservations or retentions of title under agreements with suppliers entered into in the ordinary course of business); 

  
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 (e) all Indebtedness of any other Person secured by a Lien on any asset
owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements except trade payable arising in the ordinary course of business), whether or not such Indebtedness shall have been
assumed by such Person or is limited in recourse; 
 (f) all obligations, contingent or otherwise, of any such
Person (i) relative to the face amount of letters of credit, whether or not drawn, including, without limitation, any Reimbursement Obligation, (ii) with respect to banker’s acceptances issued for the account of any such Person and
(iii) with respect to surety bonds and similar instruments (including performance bonds); 
 (g) all
obligations of any such Person in respect of Disqualified Capital Stock; 
 (h) all net obligations of such
Person under any Hedge Agreements; 
 (i) the outstanding attributed principal amount under any asset
securitization program; and 
 (j) all Guaranty Obligations of any such Person with respect to any of the
foregoing. 
 For all purposes hereof, the Indebtedness of any Person shall include its pro rata share of the Indebtedness of any
partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such
Person. The amount of any net obligation under any Hedge Agreement on any date shall be deemed to be the Hedge Termination Value thereof as of such date. 
 (d) Section 7.19 of the Credit Agreement is hereby amended to read as follows: 
 7.19 Foreign Counsel Opinions. 
 (a) If, at any time, any
First Tier Foreign Subsidiary shall (a) generate 10% or more of Consolidated EBITDA or (b) own 10% or more of the consolidated total assets of the Borrower and its Subsidiaries, the Borrower shall provide favorable opinions of local
foreign counsel, addressed to the Administrative Agent and each Lender, as to the perfection of the security interest in sixty-six percent (66%) of the total outstanding voting Capital Stock (and one hundred percent (100%) of the
non-voting Capital Stock) of such First Tier Foreign Subsidiary, in form and substance reasonably satisfactory to the Administrative Agent. 
 (b) If, at any time, Global Power Netherlands BV shall (a) generate 25% or more of Consolidated EBITDA or (b) own 25% or more of the consolidated total assets of the Borrower and its
Subsidiaries, the Borrower shall provide favorable opinions of local Dutch counsel, addressed to the Administrative Agent and each Lender, as to the perfection of the security interest in sixty-six percent (66%) of the total outstanding voting
Capital Stock (and one hundred percent (100%) of the non-voting Capital Stock) of Global Power Netherlands BV, in form and substance reasonably satisfactory to the Administrative Agent. 

  
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 (e) Schedule 6.2 of the Credit Agreement is hereby amended to be in the form of
Schedule 6.2 to this First Amendment. 
 (f) Schedule 7.19 of the Credit Agreement is hereby amended to be in
the form of Schedule 7.19 to this First Amendment. 
 2. AMENDMENT TO SECURITY AGREEMENT. 

(a) Schedule 13 of the Security Agreement is hereby amended to be in the form of Schedule 13 to this First Amendment.

 3. REPRESENTATIONS AND WARRANTIES TRUE; NO EVENT OF DEFAULT. By its execution and delivery hereof, the Borrower
represents and warrants that, as of the date hereof: 
 (a) the representations and warranties contained in the Credit Agreement
and the other Loan Documents are true and correct in all material respects, on and as of the date hereof as made on and as of such date, except for any representation and warranty that is qualified by materiality or reference to Material Adverse
Effect, which such representation and warranty shall be true and correct in all respects on and as of the date hereof as if made on and as of such date, (except for any such representation and warranty that by its terms is made only as of an earlier
date, which representation and warranty shall remain true and correct in all material respects, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and
warranty shall be true and correct in all respects as of such earlier date); 
 (b) no event has occurred and is continuing
which constitutes a Default or an Event of Default; 
 (c) (i) the Borrower has full power and authority to execute and
deliver this First Amendment, (ii) this First Amendment has been duly executed and delivered by the Borrower, and (iii) each of this First Amendment and the Credit Agreement and the Security Agreement, each as amended hereby,
constitutes the legal, valid and binding obligations of the Borrower, enforceable in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or
federal debtor relief laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies, regardless of whether considered in a proceeding in equity or at law; 

(d) neither the execution, delivery and performance of this First Amendment or the Credit Agreement, as amended hereby, nor the
consummation of any transactions contemplated herein or therein, will conflict with, result in a breach of or constitute a default under any indenture, agreement or other instrument to which the Borrower is a party or by which any of its properties
may be bound or any Governmental Approval relating to Borrower, except to the extent such conflict, breach or default, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect; 

  
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 (e) no authorization, approval, consent, or other action by, notice to, or filing with, any
governmental authority or other Person not already obtained (including the Board of Directors (or other similar governing body) of the Borrower) is required for the execution, delivery or performance by the Borrower of this First Amendment; and

 (f) the stock of Global Power Netherlands BV is not pledged to ABN AMRO Bank N.V. and ABN AMRO Bank N.V. has no lien on the
stock of Global Power Netherlands BV. 
 4. CONDITIONS TO EFFECTIVENESS. This First Amendment shall be effective as of
April 25, 2012, subject to satisfaction or completion of the following: 
 (a) the Administrative Agent shall have received
counterparts of this First Amendment executed by the Required Lenders; 
 (b) the Administrative Agent shall have received
counterparts of this First Amendment executed by the Borrower and acknowledged by each Subsidiary Guarantor and each Grantor; 

(c) the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent and its counsel, such
other documents, certificates and instruments as the Administrative Agent shall require. 
 5. REFERENCE TO THE CREDIT
AGREEMENT AND SECURITY AGREEMENT. 
 (a) Upon the effectiveness of this First Amendment, (i) each reference in the
Credit Agreement to “this Agreement”, “hereunder”, or words of like import shall mean and be a reference to the Credit Agreement, as affected and amended hereby and (ii) each reference in the Security Agreement to “this
Agreement”, “hereunder”, or words of like import shall mean and be a reference to the Security Agreement, as affected and amended hereby. 
 (b) The Credit Agreement, as amended by the amendments referred to above, shall remain in full force and effect and is hereby ratified and confirmed. 

(c) The Security Agreement, as amended by the amendments referred to above, shall remain in full force and effect and is hereby ratified
and confirmed. 
 6. COSTS, EXPENSES AND TAXES. The Borrower agrees to pay on demand all costs and expenses of the
Administrative Agent in connection with the preparation, reproduction, execution and delivery of this First Amendment and the other instruments and documents to be delivered hereunder (including the reasonable fees and out-of-pocket expenses of
counsel for the Administrative Agent with respect thereto). 
 7. SUBSIDIARY GUARANTOR’S ACKNOWLEDGMENT. By signing
below, each Subsidiary Guarantor (a) acknowledges, consents and agrees to the execution, delivery and 

  
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performance by the Borrower of this First Amendment, (b) acknowledges and agrees that its obligations in respect of its Subsidiary Guaranty Agreement are not released, diminished, waived,
modified, impaired or affected in any manner by this First Amendment or any of the provisions contemplated herein, (c) ratifies and confirms its obligations under the Subsidiary Guaranty Agreement, and (d) acknowledges and agrees that it
has no claims or offsets against, or defenses or counterclaims to, the Subsidiary Guaranty Agreement. 
 8. EXECUTION IN
COUNTERPARTS. This First Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which when taken
together shall constitute but one and the same instrument. For purposes of this First Amendment, a counterpart hereof (or signature page thereto) signed and transmitted by any Person party hereto to the Administrative Agent (or its counsel) by
facsimile machine, telecopier or electronic mail is to be treated as an original. The signature of such Person thereon, for purposes hereof, is to be considered as an original signature, and the counterpart (or signature page thereto) so transmitted
is to be considered to have the same binding effect as an original signature on an original document. 
 9. GOVERNING
LAW. This First Amendment and the other Loan Documents and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this First Agreement or any other Loan Document
(except, as to any other Loan Document, as expressly set forth therein) and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the law of the State of New York. 

10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS FIRST AMENDMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR
ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS FIRST AMENDMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 11. HEADINGS. Section headings in this First Amendment are included herein for convenience of reference only and shall
not constitute a part of this First Amendment for any other purpose. 
 12. ENTIRE AGREEMENT. THE CREDIT AGREEMENT, AS
AMENDED BY THIS FIRST AMENDMENT, AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED 

  
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BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 

 

REMAINDER OF PAGE LEFT INTENTIONALLY BLANK 

  
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 IN WITNESS WHEREOF, this First Amendment is executed as of the date first set forth above.

  

			
	BORROWER:
	
	GLOBAL POWER EQUIPMENT GROUP INC.

 
			
		
	By: 	 	 /s/ David L. Willis

			
	Name:	 	 David L. Willis

			
	Title:	 	 CFO

  
 Schedule 13

 
			
	ADMINISTRATIVE AGENT AND LENDERS:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, Secured Creditor, Swingline Lender, the Issuing Lender and Lender

 
			
		
	By:	 	 /s/ Andrew M. Widmer

			
	Name:	 	 Andrew M. Widmar

			
	Title:	 	 Vice President

  
 Schedule 13

 
			
	U.S. BANK, NATIONAL ASSOCIATION, as a Lender

 
			
		
	By:	 	 /s/ Chris Dolence

			
	Name:	 	 Chris Dolence

			
	Title:	 	 Assistant Vice President

  
 Schedule 13

 
			
	BRANCH BANKING AND TRUST COMPANY, as a Lender

 
			
		
	By:	 	 /s/ Allen K. King

			
	Name:	 	 Allen K. King

			
	Title:	 	 SVP

  
 Schedule 13

			
	ACKNOWLEDGED AND AGREED TO:
	
	AS SUBSIDIARY GUARANTORS AND AS GRANTORS:
	
	WILLIAMS INDUSTRIAL SERVICES GROUP, L.L.C.

 
			
		
	By:	 	 /s/ David L. Willis

			
	Print Name:	 	 David L. Willis

	Print Title:	 	 Treasurer

			
	
	BRADEN MANUFACTURING, L.L.C.

 
			
		
	By:	 	 /s/ David L. Willis

			
	Print Name:	 	 David L. Willis

	Print Title:	 	 Treasurer

			
	
	WILLIAMS INDUSTRIAL SERVICES, LLC

 
			
		
	By:	 	 /s/ David L. Willis

			
	Print Name:	 	 David L. Willis

	Print Title:	 	 Treasurer

			
	
	WILLIAMS SPECIALTY SERVICES, LLC

 
			
		
	By:	 	 /s/ David L. Willis

			
	Print Name:	 	 David L. Willis

	Print Title:	 	 Treasurer

  
 Schedule 13

 
			
	WILLIAMS PLANT SERVICES, LLC

 
			
		
	By:	 	 /s/ David L. Willis

			
	Print Name:	 	 David L. Willis

	Print Title:	 	 Treasurer

	
	CONSTRUCTION & MAINTENANCE PROFESSIONALS, LLC

 
			
		
	By:	 	 /s/ David L. Willis

			
	Print Name:	 	 David L. Willis

	Print Title:	 	 CFO

	
	WILLIAMS GLOBAL SERVICES, INC.

 
			
		
	By:	 	 /s/ David L. Willis

			
	Print Name:	 	 David L. Willis

	Print Title:	 	 CFO

  
 Schedule 13The Registrant's 2003 Employee Stock Purchase Plan, as amended

 Exhibit 10.2 
 INTEVAC, INC. 
 2003 EMPLOYEE STOCK PURCHASE PLAN 

AS AMENDED, FEBRUARY 2012 
 The following constitute the provisions of the 2003 Employee Stock Purchase Plan of Intevac, Inc. Capitalized terms used herein shall have the meanings assigned to such terms in the attached Appendix.

 1. Purpose. The purpose of the Plan is to provide employees of the Company and its Designated Subsidiaries with an
opportunity to purchase Common Stock of the Company through accumulated payroll deductions. It is the intention of the Company to have the Plan qualify as an “Employee Stock Purchase Plan” under Section 423 of the Code. The provisions
of the Plan, accordingly, shall be construed so as to extend and limit participation in a uniform and nondiscriminatory basis consistent with the requirements of Section 423. 

2. Eligibility. 
 (a) Offering Periods. Any individual who is an Employee as of the Enrollment Date of any Offering Period under this Plan shall be eligible to participate in such Offering Period, subject to the
requirements of Section 4. Additionally, provided that an individual is an Employee as of a Semi-Annual Entry Date within an Offering Period, such individual may enter such Offering Period on such Semi-Annual Entry Date. 

(b) Limitations. Any provisions of the Plan to the contrary notwithstanding, no Employee shall be granted a purchase right under
the Plan (i) to the extent that, immediately after the grant, such Employee (or any other person whose stock would be attributed to such Employee pursuant to Section 424(d) of the Code) would own capital stock of the Company or any Parent
or Subsidiary of the Company and/or hold outstanding options to purchase such stock possessing five percent (5%) or more of the total combined voting power or value of all classes of the capital stock of the Company or of any Parent or
Subsidiary of the Company, or (ii) to the extent that his or her rights to purchase stock under all employee stock purchase plans (as defined in Section 423 of the Code) of the Company or any Parent or Subsidiary of the Company accrues at
a rate which exceeds twenty-five thousand dollars ($25,000) worth of stock (determined at the Fair Market Value of the stock at the time such purchase right is granted) for each calendar year in which such purchase right is outstanding at any time.

 3. Offering Periods. The Plan shall be implemented by a series of successive Offering Periods, with such succession
continuing thereafter until (i) the maximum number of shares of Common Stock available for issuance under the Plan have been purchased, or (ii) terminated in accordance with Section 19. Each new Offering Period shall commence on such
date as determined by the Administrator; provided, however, that the first Offering Period shall commence on the first Trading Day on or after August 1, 2003. The Administrator shall have the power to change the duration of Offering Periods
(including the commencement dates thereof) with respect to future offerings without stockholder approval if such change is announced prior to the scheduled beginning of the first Offering Period to be affected thereafter, except as provided in
Section 23. 

  
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 4. Participation. 

(a) First Purchase Interval in the Offering Period. An Employee who is eligible to participate in the Plan pursuant to
Section 2 shall be entitled to participate in the first Purchase Interval in the first Offering Period only if such individual submits to the Company’s payroll office (or its designee), a properly completed subscription agreement
authorizing payroll deductions in the form provided by the Administrator for such purpose (i) no earlier than the effective date of the Form S-8 registration statement with respect to the issuance of Common Stock under this Plan and
(ii) no later than five (5) business days from the effective date of such S-8 registration statement (the “Enrollment Window”). An eligible Employee’s failure to submit the subscription agreement during the Enrollment Window
shall result in the automatic termination of such individual’s participation in the Offering Period. 
 (b) Subsequent
Purchase Intervals and Offering Periods. An Employee who is eligible to participate in the Plan pursuant to Section 2 may become a participant by (i) submitting to the Company’s payroll office (or its designee), on or before a
date prescribed by the Administrator prior to an applicable Enrollment Date or Semi-Annual Entry Date, a properly completed subscription agreement authorizing payroll deductions in the form provided by the Administrator for such purpose, or
(ii) following an electronic or other enrollment procedure prescribed by the Administrator. 
 5. Payroll
Deductions. 
 (a) For Offering Periods beginning on or after February 1, 2012, at the time a participant enrolls in
the Plan pursuant to Section 4, he or she shall elect to have payroll deductions made on each payday during the Offering Period in an amount not exceeding fifteen percent (15%) of the Compensation which he or she receives on each such
payday; provided, that should a payday occur on a Purchase Date, a participant shall have the payroll deductions made on such payday applied to his or her account under the new Offering Period or Purchase Interval, as the case may be. A
participant’s subscription agreement shall remain in effect for successive Offering Periods unless terminated as provided in Section 9. 
 (b) Payroll deductions authorized by a participant shall commence on the first payday following the Entry Date and shall end on the last payday in the Offering Period to which such authorization is
applicable, unless sooner terminated by the participant as provided in Section 9; provided, however, that for the first Offering Period, payroll deductions shall commence on the first payday on or following the end of the Enrollment Window.

 (c) All payroll deductions made for a participant shall be credited to his or her account under the Plan and shall be
withheld in whole percentages only. A participant may not make any additional payments into such account. 
 (d) A participant
may (i) discontinue his or her participation in the Plan as provided in Section 9, (ii) increase the rate of his or her payroll deductions once during each Purchase Interval, and (iii) decrease the rate of his or her payroll
deductions once during each 

  
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Purchase Interval by (x) properly completing and submitting to the Company’s payroll office (or its designee), on or before a date prescribed by the Administrator prior to an applicable
Purchase Date, a new subscription agreement authorizing the change in payroll deduction rate in the form provided by the Administrator for such purpose, or (y) following an electronic or other procedure prescribed by the Administrator. If a
participant has not followed such procedures to change the rate of payroll deductions, the rate of his or her payroll deductions shall continue at the originally elected rate throughout the Offering Period and future Offering Periods (unless
terminated as provided in Section 9). The Administrator may, in its sole discretion, change or institute any limit as to the nature and/or number of payroll deduction rate changes that may be made by participants during any Offering Period. Any
change in payroll deduction rate made pursuant to this Section 5(d) shall be effective as of the first full payroll period following five (5) business days after the date on which the change is made by the participant (unless the
Administrator, in its sole discretion, elects to process a given change in payroll deduction rate more quickly). 
 (e)
Notwithstanding the foregoing, to the extent necessary to comply with Section 423(b)(8) of the Code and Section 2(b), a participant’s payroll deductions may be decreased to zero percent (0%) at any time during a Purchase Interval.
Payroll deductions shall recommence at the rate originally elected by the participant effective as of the beginning of the first Purchase Interval which is scheduled to end in the following calendar year, unless terminated by the participant as
provided in Section 9. 
 (f) At the time the purchase right is exercised, in whole or in part, or at the time some or all
of the Company’s Common Stock issued under the Plan is disposed of, the participant must make adequate provision for the Company’s federal, state, or other tax withholding obligations, if any, that arise upon the exercise of the purchase
right or the disposition of the Common Stock. At any time, the Company may, but shall not be obligated to, withhold from the participant’s compensation the amount necessary for the Company to meet applicable withholding obligations, including
any withholding required to make available to the Company any tax deductions or benefits attributable to the sale or early disposition of Common Stock by the Employee. 
 6. Grant of Purchase Right. On the Enrollment Date of each Offering Period, or the Semi-Annual Entry Date of each Offering Period for each Employee who entered such Offering Period on a Semi-Annual
Entry Date, each Employee participating in such Offering Period shall be granted a purchase right to purchase on each Purchase Date during such Offering Period (at the applicable Purchase Price) up to a number of shares of Common Stock determined by
dividing such participant’s payroll deductions accumulated prior to such Purchase Date and retained in the participant’s account as of the Purchase Date by the applicable Purchase Price; provided that for Offering Periods beginning on or
after February 1, 2012, in no event shall a participant be permitted to purchase during each Purchase Interval more than 2,500 shares of Common Stock (subject to any adjustment pursuant to Section 18), and provided further that such
purchase shall be subject to the limitations set forth in Sections 2(b) and 8. The Employee may accept the grant of such purchase right by electing to participate in the Plan in accordance with the requirements of Section 4. The Administrator
may, for future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock that a participant may purchase during each Purchase Interval of such Offering Period. Exercise of the purchase right
shall occur as provided in Section 7, unless the participant has withdrawn pursuant to Section 9. The purchase right shall expire on the last day of the Offering Period. 

  
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 7. Exercise of Purchase Right. 

(a) Unless a participant withdraws from the Plan as provided in Section 9, his or her purchase right for the purchase of shares of
Common Stock shall be exercised automatically on the Purchase Date, and the maximum number of full shares subject to purchase right shall be purchased for such participant at the applicable Purchase Price with the accumulated payroll deductions in
his or her account. No fractional shares of Common Stock shall be purchased; any payroll deductions accumulated in a participant’s account which are not sufficient to purchase a full share shall be retained in the participant’s account for
the subsequent Purchase Interval or Offering Period, subject to earlier withdrawal by the participant as provided in Section 9. Any other funds left over in a participant’s account after the Purchase Date shall be returned to the
participant. During a participant’s lifetime, a participant’s purchase right to purchase shares hereunder is exercisable only by him or her. 
 (b) Notwithstanding any contrary Plan provision, if the Administrator determines that, on a given Purchase Date, the number of shares of Common Stock with respect to which purchase rights are to be
exercised may exceed (i) the number of shares of Common Stock that were available for sale under the Plan on an Entry Date of the applicable Offering Period, or (ii) the number of shares of Common Stock available for sale under the Plan on
such Purchase Date, the Administrator may in its sole discretion (x) provide that the Company shall make a pro rata allocation of the shares of Common Stock available for purchase on such Entry Date or Purchase Date, as applicable, in as
uniform a manner as shall be practicable and as it shall determine in its sole discretion to be equitable among all participants exercising purchase rights to purchase Common Stock on such Purchase Date, and continue the Offering Period then in
effect, or (y) provide that the Company shall make a pro rata allocation of the shares of Common Stock available for purchase on such Entry Date or Purchase Date, as applicable, in as uniform a manner as shall be practicable and as it shall
determine in its sole discretion to be equitable among all participants exercising purchase rights to purchase Common Stock on such Purchase Date, and terminate the Offering Period then in effect pursuant to Section 19. The Company may make pro
rata allocation of the shares of Common Stock available on the Entry Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares of Common Stock for issuance under the Plan by the
Company’s shareholders subsequent to such Entry Date. 
 8. Delivery. As soon as administratively practicable after
each Purchase Date on which a purchase of shares of Common Stock occurs, the Company shall arrange the delivery to each participant, the shares purchased upon exercise of his or her purchase right in a form determined by the Administrator (in its
sole discretion). No participant shall have any voting, dividend, or other shareholder rights with respect to shares of Common Stock subject to any purchase right granted under the Plan until such shares have been purchased and delivered to the
participant as provided in this Section 8. 
 9. Withdrawal. 

(a) Under procedures established by the Administrator, a participant may withdraw all but not less than all the payroll deductions
credited to his or her account and not yet used to exercise his or her purchase right under the Plan at any time by (i) submitting to the Company’s payroll office (or its designee) a written notice of withdrawal in the form prescribed by

  
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the Administrator for such purpose, or (ii) following an electronic or other withdrawal procedure prescribed by the Administrator. All of the participant’s payroll deductions credited
to his or her account shall be paid to such participant as promptly as practicable after the effective date of his or her withdrawal and such participant’s purchase right for the Offering Period shall be automatically terminated, and no further
payroll deductions for the purchase of shares shall be made for the Purchase Interval then in progress and, unless the Employee again enrolls in the Plan in accordance with Section 4, no further payroll deductions for the purchase of shares
shall be made for such Offering Period. If a participant withdraws from an Offering Period, payroll deductions shall not resume at the beginning of any future Purchase Interval in that Offering Period or in the succeeding Offering Period unless the
Employee re-enrolls in the Plan in accordance with the provisions of Section 4. 
 (b) A participant’s withdrawal from
an Offering Period shall not have any effect upon his or her eligibility to participate in any similar plan that may hereafter be adopted by the Company or in succeeding Offering Periods that commence after the termination of the Offering Period
from which the participant withdraws. 
 10. Termination of Employment. In the event a participant ceases to be an
Employee of an Employer, his or her purchase right shall immediately expire and any payroll deductions credited to such participant’s account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan shall be
returned to such participant or, in the case of his or her death, to the person or persons entitled thereto under Section 14, and such participant’s purchase right shall be automatically terminated. 

11. Interest. No interest shall accrue on the payroll deductions of a participant in the Plan. 

12. Stock. 
 (a) Subject to adjustment upon changes in capitalization of the Company as provided in Section 18, the maximum number of shares of Common Stock which shall be made available for sale under the Plan
shall be 1,850,000 shares plus any shares which have been reserved but not issued under the Company’s 1995 Employee Stock Purchase Plan as of the date of its termination. 
 (b) Shares of Common Stock to be delivered to a participant under the Plan shall be registered in the name of the participant or in the name of the participant and his or her spouse. 

13. Administration. The Administrator shall administer the Plan and shall have full and exclusive discretionary authority to
construe, interpret and apply the terms of the Plan, to determine eligibility and to adjudicate all disputed claims filed under the Plan. Every finding, decision and determination made by the Administrator shall, to the full extent permitted by law,
be final and binding upon all parties. 
 14. Designation of Beneficiary. 

(a) A participant may designate a beneficiary who is to receive any shares of Common Stock and cash, if any, from the participant’s
account under the Plan in the event of such 

  
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participant’s death subsequent to an Purchase Date on which the purchase right is exercised but prior to delivery to such participant of such shares and cash. In addition, a participant may
designate a beneficiary who is to receive any cash from the participant’s account under the Plan in the event of such participant’s death prior to exercise of the purchase right. If a participant is married and the designated beneficiary
is not the spouse, spousal consent shall be required for such designation to be effective. 
 (b) In the event of the death of a
participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such participant’s death, the Company shall deliver such shares and/or cash to the executor or administrator of the estate of the
participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any one or more dependents or relatives of the
participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 
 (c) All beneficiary designations under this Section 14 shall be made in such form and manner as the Administrator may prescribe from time to time. 

15. Transferability. Neither payroll deductions credited to a participant’s account nor any rights with regard to the
exercise of a purchase right or to receive shares of Common Stock under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 14)
by the participant. Any such attempt at assignment, transfer, pledge or other disposition shall be without effect, except that the Company may treat such act as an election to withdraw from an Offering Period in accordance with Section 9.

 16. Use of Funds. All payroll deductions received or held by the Company under the Plan may be used by the Company for
any corporate purpose, and the Company shall not be obligated to segregate such payroll deductions. Until shares of Common Stock are issued under the Plan (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company), a participant shall only have the rights of an unsecured creditor with respect to such shares. 

17. Reports. Individual accounts shall be maintained for each participant in the Plan. Statements of account shall be given to
participating Employees at least annually, which statements shall set forth the amounts of payroll deductions, the Purchase Price, the number of shares of Common Stock purchased and the remaining cash balance, if any. 

18. Adjustments, Dissolution, Liquidation, Merger or Change of Control. 

(a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash, Common Stock, other
securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Common Stock or other securities of the Company, or other change
in the corporate structure of the Company affecting the Common Stock such that an adjustment is determined by the Administrator (in its sole discretion) to be appropriate in order to prevent dilution or enlargement of the benefits or potential
benefits intended to be made available under the Plan, 

  
 6 

 
then the Administrator shall, in such manner as it may deem equitable, adjust the number and class of Common Stock which may be delivered under the Plan, the Purchase Price per share and the
number of shares of Common Stock covered by each purchase right under the Plan which has not yet been exercised, and the numerical limits of Section 6. 
 (b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Offering Period then in progress shall be shortened by setting a new Purchase Date (the
“New Purchase Date”), and shall terminate immediately prior to the consummation of such proposed dissolution or liquidation, unless provided otherwise by the Board. The New Purchase Date shall be before the date of the Company’s
proposed dissolution or liquidation. The Board shall notify each participant in writing, at least ten (10) business days prior to the New Purchase Date, that the Purchase Date for the participant’s purchase right has been changed to the
New Purchase Date and that the participant’s purchase right shall be exercised automatically on the New Purchase Date, unless prior to such date the participant has withdrawn from the Offering Period as provided in Section 9. 

(c) Merger or Change of Control. In the event of a merger of the Company with or into another corporation or a Change of Control,
each outstanding purchase right shall be assumed or an equivalent purchase right substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or
substitute for the purchase right, the Purchase Interval then in progress shall be shortened by setting a new Purchase Date (the “New Purchase Date”) and the Offering Period then in progress shall end on the New Purchase Date. The New
Purchase Date shall be before the date of the Company’s proposed merger or Change of Control. The Administrator shall notify each participant in writing, at least ten (10) business days prior to the New Purchase Date, that the Purchase
Date for the participant’s purchase right has been changed to the New Purchase Date and that the participant’s purchase right shall be exercised automatically on the New Purchase Date, unless prior to such date the participant has
withdrawn from the Offering Period as provided in Section 9. 
 19. Amendment or Termination. 

(a) The Administrator may at any time and for any reason terminate or amend the Plan. Except as otherwise provided in the Plan, no such
termination can affect purchase rights previously granted under the Plan, provided that an Offering Period may be terminated by the Administrator on any Purchase Date if the Administrator determines that the termination of the Plan is in the best
interests of the Company and its stockholders. Except as provided in Section 18 and this Section 19, no amendment may make any change in any purchase right theretofore granted which adversely affects the rights of any participant. To the
extent necessary to comply with Section 423 of the Code (or any successor rule or provision or any other applicable law, regulation or stock exchange rule), the Company shall obtain stockholder approval in such a manner and to such a degree as
required. 
 (b) Without stockholder consent and without regard to whether any participant rights may be considered to have been
“adversely affected,” the Administrator shall be entitled to change the Offering Periods, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to amounts
withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a 

  
 7 

 
participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding elections, establish reasonable waiting and adjustment periods and/or
accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each participant properly correspond with amounts withheld from the participant’s Compensation, and establish such other limitations or
procedures as the Administrator determines in its sole discretion advisable which are consistent with the Plan. 
 (c) In the
event the Administrator determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Board may, in its discretion and, to the extent necessary or desirable, modify or amend the Plan to reduce or
eliminate such accounting consequence including, but not limited to: 
 (i) altering the Purchase Price for any Offering Period
including an Offering Period underway at the time of the change in Purchase Price; 
 (ii) shortening any Offering Period so
that Offering Period ends on a new Purchase Date, including an Offering Period underway at the time of the Board action; and 

(iii) allocating shares. 

Such modifications or amendments shall not require stockholder approval or the consent of any Plan participants. 

20. Notices. All notices or other communications by a participant to the Company under or in connection with the Plan shall be
deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 
 21. Conditions Upon Issuance of Shares. Shares of Common Stock shall not be issued with respect to a purchase right under the Plan unless the exercise of such purchase right and the issuance and
delivery of such shares pursuant thereto shall comply with all applicable provisions of law, domestic or foreign, including, without limitation, the Securities Act of 1933, as amended, including the rules and regulations promulgated thereunder, the
Exchange Act and the requirements of any stock exchange upon which the shares may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 

As a condition to the exercise of a purchase right, the Company may require the person exercising such purchase right to represent and
warrant at the time of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a representation is required by
any of the aforementioned applicable provisions of law. 
 22. Term of Plan. The Plan shall become effective upon the
earlier to occur of its adoption by the Board or its approval by the stockholders of the Company. It shall continue in effect until terminated pursuant to Section 19. 
 23. Automatic Transfer to Low Price Offering Period. To the extent permitted by any applicable laws, regulations, or stock exchange rules if the Fair Market Value of the Common Stock

  
 8 

 
on any Purchase Date in an Offering Period is lower than the Fair Market Value of the Common Stock on the Enrollment Date of such Offering Period, then all participants in such Offering Period
shall be automatically withdrawn from such Offering Period immediately after the exercise of their purchase right on such Purchase Date and automatically re-enrolled in the immediately following Offering Period and the current Offering Period shall
automatically terminate after such purchase of shares on the Purchase Date. The Administrator may shorten the duration of such new Offering Period within five (5) business days following the start date of such new Offering Period. 

  
 9 

 APPENDIX 
 The following definitions shall be in effect under the Plan: 
 Definitions.

 (a) “Administrator” means the Board or any committee thereof designated by the Board in accordance with
Section 13. 
 (b) “Board” means the Board of Directors of the Company. 

(c) “Change of Control” means the occurrence of any of the following events: 

(i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial
owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting
securities; or 
 (ii) The consummation of the sale or disposition by the Company of all or substantially all of the
Company’s assets; or 
 (iii) The consummation of a merger or consolidation of the Company, with any other corporation,
other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company, or such surviving entity or its parent outstanding immediately after such merger or consolidation.

 (iv) A change in the composition of the Board, as a result of which fewer than a majority of the Directors are Incumbent
Directors. “Incumbent Directors” means Directors who either (A) are Directors as of the effective date of the Plan (pursuant to Section 22), or (B) are elected, or nominated for election, to the Board with the affirmative
votes of at least a majority of those Directors whose election or nomination was not in connection with any transaction described in subsections (i), (ii) or (iii) or in connection with an actual or threatened proxy contest relating to the
election of Directors of the Company. 
 (d) “Code” means the Internal Revenue Code of 1986, as amended.

 (e) “Common Stock” means the common stock of the Company. 

(f) “Company” means Intevac, Inc., a California corporation. 

(g) “Compensation” means an Employee’s base straight time gross earnings, but exclusive of payments for
commissions, overtime, shift premium and other compensation. 

  
 10 

 (h) “Designated Subsidiary” means any Subsidiary that has been designated
by the Administrator from time to time in its sole discretion as eligible to participate in the Plan. 
 (i)
“Director” means a member of the Board. 
 (j) “Employee” means any individual who is a common
law employee of an Employer and is customarily employed for at least twenty (20) hours per week and more than five (5) months in any calendar year by the Employer. For purposes of the Plan, the employment relationship shall be treated as
continuing intact while the individual is on sick leave or other leave of absence approved by the Company. Where the period of leave exceeds 90 days and the individual’s right to reemployment is not guaranteed either by statute or by contract,
the employment relationship shall be deemed to have terminated on the 91st day of such leave. 
 (k) “Employer”
means any one or all of the Company and its Designated Subsidiaries. 
 (l) “Enrollment Date” means the first
Trading Day of each Offering Period. 
 (m) “Entry Date” means the Enrollment Date or Semi-Annual Entry Date on
which an individual becomes a participant in the Plan. 
 (n) “Exchange Act” means the Securities Exchange Act
of 1934, as amended. 
 (o) “Fair Market Value” means, as of any date, the value of Common Stock determined as
follows: 
 (i) If the Common Stock is listed on any established stock exchange or a national market system, including without
limitation the Nasdaq National Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for the Common Stock (or the closing bid, if no sales were reported) as quoted on such exchange or
system on the date of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable, or; 
 (ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, its Fair Market Value shall be the mean of the closing bid and asked prices for the
Common Stock on the date of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable, or; 
 (iii) In the absence of an established market for the Common Stock, its Fair Market Value shall be determined in good faith by the Administrator. 

(p) “Offering Periods” means the successive periods of approximately twenty-four (24) months, each comprised of one
or more successive Purchase Intervals. The duration and timing of Offering Periods may be changed pursuant to Section 3 of this Plan. 
 (q) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of the Code. 

  
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 (r) “Plan” means this 2003 Employee Stock Purchase Plan. 

(s) “Purchase Date” means the last Trading Day in January and July of each year. The first Purchase Date under the Plan
shall be January 30, 2004. 
 (t) “Purchase Interval” shall mean the approximately six (6) month
period running from the first Trading Day in February of each year through the last Trading Day in July of each year or from the first Trading Day in August of each year through the last Trading Day in January of the following year. However, the
initial Purchase Interval shall commence on the Enrollment Date of the first Offering Period and end on the last Trading Day in January 2004. 
 (u) “Purchase Price” means, for each participant, an amount equal to eighty-five percent (85%) of the Fair Market Value of a share of Common Stock on (i) the Participant’s
Entry Date into that Offering Period, or (ii) on the Purchase Date, whichever is lower; provided however, that the Purchase Price may be adjusted by the Administrator pursuant to Section 19. 

(v) “Semi-Annual Entry Date” means the first Trading Day of each Purchase Interval provided that such Trading Day is not
an Enrollment Date. 
 (w) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter
existing, as defined in Section 424(f) of the Code. 
 (x) “Trading Day” means a day on which the U.S.
national stock exchanges and the Nasdaq System are open for trading. 

  
 12

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