Document:

avav_Ex10_45

		
			Exhibit 10.45
		

		
			 
		

		
			AMENDMENT AGREEMENT
		

		
			 
		

		
			This Amendment Agreement (this “Amendment”) is made and entered into as of November 29, 2018  by and between SoftBank Corp., a company incorporated under the laws of Japan and having its principal place of business at 1-9-1 Higashi-shimbashi, Minato-ku, Tokyo, Japan (“SoftBank”) and AeroVironment, Inc., a company incorporated under the laws of the State of Delaware and having its principal place of business at 800 Royal Oaks Drive, Suite 210, Monrovia, CA 91016, U.S.A. (“AV”). SoftBank and AV are hereinafter referred to collectively as the “Parties” and individually as a “Party”.
		

		
			All Capitalized terms not otherwise defined herein shall have the same meaning as assigned to them in the Original Agreement (as such term is defined below).
		

		
			 
		

		
			RECITALS
		

		
			WHEREAS:
		

		
			(A)    SoftBank and AV entered into a Joint Venture Agreement dated as of December 1, 2017 (the “Original Agreement”) under which they agreed to establish a joint venture company named HAPSMobile Inc.; and
		

		
			(B)    SoftBank and AV now desire to amend a portion of the Original Agreement as set forth in this Amendment.
		

		
			 
		

		
			NOW THEREFORE, the Parties hereby agree to amend and supplement the terms of the Original Agreement as follows:
		

		
			 
		

		
			1.        Amendment to Section 4(a)(i).
		

		
			 
		

		
			Section 4.4(a)(i) of the Original Agreement is deleted in its entirety and replaced as follows:
		

		
			 
		

			
	
			
				 (i)
			Composition of the Board of Directors.  The board of directors of the Company (the “Board”) shall consist of six (6) Directors, of which four (4) shall be nominated by SoftBank (collectively, the “SoftBank Directors”) and two (2) shall be nominated by AV (the “AV Directors”). The updated SoftBank Directors shall be Mr. Junichi Miyakawa, Mr. Ryuji Wakikawa, Mr. Yoshihito Shimazaki and Mr.  Akihiko Asami. AV Directors shall be Mr. Wahid Nawabi and Mr. Kirk Flittie. Each Shareholder agrees that, if at any time it is then entitled to vote for the election, removal or re-election of directors to the Board, it shall vote all of its Shares that are entitled to vote or execute proxies or written consents, as the case may be, and take all other necessary actions (including causing the Company to call a special meeting of the Shareholders) in order to ensure that the composition of the Board is as set forth in this Section 4.4(a)(i) (i.e. that the Board shall consist of four (4) SoftBank nominated Directors and two (2) AV nominated Directors).

		
			 
		

		
			2.        Effective Date. Notwithstanding the signing date, this Amendment shall be in full effect from November 29, 2018.
		

		
			 
		

		
			3.        Other.
		

		
			
		

		
			

		 

		

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			3.1    SoftBank and AV each agrees to cause the Company to, and to vote its respective shares in order to, fully implement this Amendment, including without limitation any necessary amendment to the articles of incorporation of the Company.
		

		
			 
		

		
			3.2    Except as expressly modified by this Amendment, the Original Agreement shall remain in full force and effect.
		

		
			 
		

		
			[Signature page follows.]
		

		
			 
		

		
			
		

		
			

		 

		

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			IN WITNESS WHEREOF, the Parties have executed this Amendment by their respective duly authorized representatives . This Amendment may be executed in counterparts, including by facsimile or any other electronic transmission.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						SoftBank Corp..

					
					
						    

					
					
						AeroVironment, Inc.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						 

					
					
						By:

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						/s/Junichi Miyakawa

					
					
						 

					
					
						/s/ Wahid Nawabi

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Print Name:  Junichi Miyakawa

					
					
						 

					
					
						Print Name: Wahid Nawabi

				
	
					
						Title: Executive Vice President, Director & CTO

					
					
						 

					
					
						Title: President and CEO

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Date: 

					
					
						Nov. 29, 2018

					
					
						 

					
					
						Date: 

					
					
						Nov. 29, 2018

				

		
			 
		

		 

		

			3avav_Ex10_46

		
			Exhibit 10.46
		

		
			 
		

		
			SECOND AMENDMENT AGREEMENT
		

		
			 
		

		
			This Second Amendment Agreement (this “Amendment”) is made and entered into with effect as of February 8, 2019  by and between SoftBank Corp., a company incorporated under the laws of Japan and having its principal place of business at 1-9-1 Higashi-shimbashi, Minato-ku, Tokyo, Japan (“SoftBank”) and AeroVironment, Inc., a company incorporated under the laws of the State of Delaware and having its principal place of business at 800 Royal Oaks Drive, Suite 210, Monrovia, CA 91016, U.S.A. (“AV”). SoftBank and AV are hereinafter referred to collectively as the “Parties” and individually as a “Party”.
		

		
			 
		

		
			All Capitalized terms not otherwise defined herein shall have the same meaning as assigned to them in the Original Agreement (as such term is defined below).
		

		
			 
		

		
			RECITALS
		

		
			WHEREAS:
		

		
			 
		

		
			(A)    SoftBank and AV entered into a Joint Venture Agreement dated December 1, 2017 (the “Original Agreement”) under which they agreed to establish a joint venture company named HAPSMobile Inc.; and
		

		
			(B)     SoftBank and AV amended the Original Agreement by entering into an Amendment Agreement dated November 29, 2018; and
		

		
			(C)     SoftBank and AV now desire to amend portions of the Original Agreement as set forth in this Amendment.
		

		
			 
		

		
			NOW THEREFORE, the Parties hereby agree to amend and supplement the terms of the Original Agreement as follows:
		

		
			 
		

		
			1.         Additional Capital Contribution by AV.
		

		
			 
		

		
			Sections 2.6 and 2.7 of the Original Agreement are hereby deleted in their entirety and replaced as follows:
		

		
			 
		

		
			2.6         Initial Capital Contributions by the Parties and Follow-Up Contribution by AV.
		

		
			(a)            The Parties shall make initial cash capital contributions to establish the Company. SoftBank’s initial contribution shall be 3,990,000,000 JPY in cash in exchange for ninety-five percent (95%) of the issued common stock of the Company and AV’s initial contribution shall be 210,000,000 JPY in cash in exchange for five percent (5%) of the issued common stock of the Company. Following the initial capital contributions, the Parties shall make cash capital contributions in accordance with the Capital Plan attached hereto as Exhibit D. Any costs in making the capital contribution shall be incurred by the respective Parties.
		

		
			(b)            By no later than March 7, 2019, AV shall make a follow-up cash capital contribution to the Company of  632,800,000 JPY in cash in exchange for five percent (5%) of the issued common stock of the Company, which shall be in addition to the five percent (5%) issued to AV under paragraph (a) above.
		

		
			
		

		
			

		 

		

			1

		

		

		
			2.7        Share Capital.
		

		
			 
		

		
			(a)            Shareholdings.  The Company shall initially be authorized to issue shares of capital stock consisting of 336,000 shares of common stock (the “Shares”). All of the capital of the Company will be composed of voting common shares of a single class. Upon completion of the capital contributions described in Sections 2.6(a) and(b) above, each Shareholder’s percentage of total share capital of the Company will be as follows. For the avoidance of doubt, such percentage and the total number of authorized shares of the Company may change from time to time as the result of Transfers or new issuances of Shares by the Company pursuant to the terms of this Agreement and applicable Laws.
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

				
	
					
						Shareholders

					
					
						Number of Shares

					
					
						Percentage of Share Capital

				
	
					
						SoftBank

					
					
						216,410

					
					
						90%

				
	
					
						AV

					
					
						24,046

					
					
						10%

				

		
			 
		

		
			 
		

		
			2.         Deletion of Section 5.3(f).  Section 5.3(f)  of the Original Agreement is hereby deleted in its entirety and replaced as follows:
		

		
			 
		

		
			(f)        [Reserved]
		

		
			 
		

		
			3.         Other.
		

		
			5.1       SoftBank and AV each agrees to cause the Company to, and to vote its respective shares in order to, fully implement this Amendment, including without limitation any necessary amendment to the articles of incorporation of the Company.
		

		
			5.2       Except as expressly modified by this Amendment, the Original Agreement shall remain in full force and effect.
		

		
			 
		

		
			[Signature page follows]
		

		
			
		

		
			

		 

		

			2

		

		

		
			IN WITNESS WHEREOF, the Parties have executed this Amendment by their respective duly authorized representatives. This Amendment may be executed in counterparts, including by facsimile or any other electronic transmission.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						SoftBank Corp.

					
					
						    

					
					
						AeroVironment, Inc.

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Junichi Miyakawa

					
					
						 

					
					
						By:

					
					
						/s/ Wahid Nawabi

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Name: Junichi Miyakawa

					
					
						 

					
					
						Name: Wahid Nawabi

				
	
					
						Title: Representative Director & CTO

					
					
						 

					
					
						Title: President and CEO

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						Date:

					
					
						Feb. 20, 2019

					
					
						 

					
					
						Date:

					
					
						Feb. 20, 2019

				

		
			 
		

		 

		

			3

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