Document:

Fixed Rate Note for Plainfield Property

 Exhibit 10.17 
 LOAN NO.: 010-00002165 
  

					
		 	FIXED RATE NOTE	  	
		 	[Defeasance]	  	
	$21,500,000.00	 		  	October 30, 2007

  

	1.	BORROWER’S PROMISE TO PAY. 

 FOR VALUE RECEIVED, the undersigned, PLAINFIELD PARTNERS, LLC, a Delaware limited liability company, having an office at c/o Griffin Capital Corporation, 2121 Rosecrans Avenue, Suite 3321, El Segundo, California 90245
(“Borrower”), hereby unconditionally promises to pay to the order of ARTESIA MORTGAGE CAPITAL CORPORATION, a Delaware corporation (together with its successors and assigns, “Lender”), the principal sum of Twenty One
Million Five Hundred Thousand and 00/100 Dollars ($21,500,000.00), in lawful money of the United States of America with interest thereon to be computed from the date of disbursement under this Note at the Applicable Interest Rate (defined below),
and to be paid in installments as provided herein. Any initially capitalized terms which are not specifically defined in this Note shall have the same meanings given to them in the Security Instrument (defined below). 
  

	2.	INTEREST. 

 Interest on the principal sum of this Note shall be calculated on the basis of a 360-day year and will be payable on the basis of the actual number of days elapsed. Borrower shall pay interest at the rate of Six and Sixty-Five Hundredths
percent (6.650%) per annum (the “Applicable Interest Rate”). If Borrower fails to pay any amount when due under this Note, in addition to any other rights possessed by the Lender, any accrued but unpaid interest may be added to
the unpaid principal and accrue interest at the Default Rate (defined below). The first interest accrual period under this Note shall commence on and include the date that principal is advanced under this Note and shall end on and include the next
tenth (10th) day of a calendar month, unless
principal is advanced on the tenth (10th) day of a
calendar month, in which case the first interest accrual period shall consist of only such tenth (10th) day. Each interest accrual period thereafter shall commence on the eleventh (11th) day of each calendar month during the term of this Note and shall end on and include the tenth (10th) day of the next occurring calendar month. 
  

	3.	PAYMENTS. 

 (a) Time
and Amounts of Payments. Borrower shall pay principal and interest by making payments as follows: 
 (i) Accrued interest only at the Applicable Interest Rate shall be due and payable on the date that principal is advanced under this Note for the period from the date of disbursement hereunder through and
including the tenth (10th) day of the current
calendar month (if the date of disbursement hereunder is on or after the first (1st) day of a calendar month and prior to the eleventh (11th) day of a calendar month) or the tenth (10th) day of the next succeeding calendar month (if the date of disbursement hereunder is on or after the eleventh (11
th) day of the current calendar month); 

(ii) A constant payment in the amount of U.S. $138,022.45 (the “Constant Payment”), on
November 11, 2007, and on the eleventh (11th) day of each calendar month thereafter up to and including October 11, 2017; each of such payments to be applied to the payment of interest computed at the Applicable Interest
Rate, and the balance applied toward the reduction of the principal sum; and 
 (iii) A payment of the entire
unpaid principal balance of this Note and all accrued and unpaid interest thereon due and payable on November 11, 2017 (the “Maturity Date”). 

 (b) Place of Payments. The payments referred to in Section 3(a)(ii) above are
hereinafter referred to individually as a “Monthly Payment”, and collectively as “Monthly Payments”. Borrower shall make its Monthly Payments and any other payments due under this Note, including, without
limitation, the entire unpaid principal balance of this Note plus all accrued but unpaid interest thereon due and payable on the Maturity Date, at Structured Products Servicing, Wachovia Wholesale Lockbox, P.O. Box 60253, Charlotte, North Carolina
28260-0253 or at a different place (including, without limitation, to Lender’s Representative) if required by the Lender. As used in this Note, the term “Lender’s Representative” shall mean Lender or Lender’s loan
servicer or agent, in each case as designated by Lender from time to time. 
 (c) Application of Payments. In the absence
of a specific determination by Lender to the contrary, all payments paid by Borrower to Lender in connection with the obligations of Borrower under this Note and under the other Loan Documents shall be applied in the following order of priority:
(i) to amounts, other than principal and interest, due to Lender pursuant to this Note or the other Loan Documents; (ii) to the portion of accrued but unpaid interest accruing at the Applicable Interest Rate on this Note; and (iii) to
the unpaid principal balance of this Note. Borrower irrevocably waives the right to direct the application of any and all payments at any time hereafter received by Lender from or on behalf of Borrower, and Borrower irrevocably agrees that Lender
shall have the continuing exclusive right to apply any and all such payments against the then due and owing obligations of Borrower in such order of priority as Lender may deem advisable. 
  

	4.	PREPAYMENT; DEFEASANCE. 

 (a) Subject to the provisions of Section 4(h) below, Borrower shall not have the right or privilege to prepay all or any portion of the unpaid principal balance of this Note, except in connection with the application of Net Proceeds by
Lender pursuant to Section 1.09 of the Security Instrument (which application shall not be subject to any Prepayment Charge (defined below)). 
 (b) On or after the earlier of (i) three (3) years from the due date of the first Monthly Payment or (ii) the date which is two (2) years and one (1) day after the
“startup day” of any “real estate mortgage investment conduit” or “REMIC” (as such terms are defined in Sections 860G(a)(9) and 860D, respectively, of the United States Internal Revenue Code, as amended, and any related
United States Treasury Department regulations) which may acquire the Loan, as the case may be (the “Lockout Expiration Date”), and provided that no Event of Default exists, Borrower may obtain a release (the
“Release”) of the Property from the lien of the Security Instrument and the other Loan Documents provided that the following conditions have been satisfied (a “Defeasance”): 
  

	 	(1)	Borrower shall have provided Lender with not less than thirty (30) days and not more than sixty (60) days prior written notice (the “Defeasance
Notice”) specifying the Monthly Payment date (the “Release Date”) on which the Defeasance Deposit (defined below) is to be paid or the Government Securities (defined below) are to be delivered, in each case in the manner
hereinafter provided; 

  

	 	(2)	Borrower shall have paid to Lender all interest accrued and unpaid on the principal balance of this Note to and including the Release Date; 

  

	 	(3)	Borrower shall have paid to Lender all other sums due and payable under this Note, the Security Instrument and the other Loan Documents to and including the Release
Date, including, without limitation, any Monthly Payment which may be due and payable on the Release Date; 

  

	 	(4)	Borrower shall have paid to Lender’s Representative a $5,000.00 non-refundable processing fee (the “Defeasance Processing Fee”), which must be
paid at the same time the Defeasance Notice is provided to Lender; 

  

 -2- 

	 	(5)	Borrower shall have either paid to Lender’s Representative the Defeasance Deposit or delivered to Lender’s Representative the Government Securities, whichever
Lender requires at Lender’s option; 

  

	 	(6)	All payments by Borrower to Lender’s Representative under this Section 4 shall have been made in immediately available funds, except for the Defeasance
Processing Fee, which may be paid by check or draft; 

  

	 	(7)	The proposed Defeasance and Release shall not cause the Loan to lose its status as a “qualified mortgage” within the meaning of Sections 860D and 860G(a)(3)
of the United States Internal Revenue Code, as amended, and any related United States Treasury Department regulations, including without limitation United States Treasury Department Regulation 1.860(G)-2(a); 

  

	 	(8)	The Successor Borrower (defined below) shall have been established and shall have been approved by Lender’s Representative; 

  

	 	(9)	Borrower shall have delivered to Lender the following items at least fifteen (15) days prior to the Release Date: 

  

	 	(A)	the Defeasance Security Agreement (defined below); 

  

	 	(B)	a release of the Property from the lien of the Security Instrument (for execution by Lender) in form and substance appropriate for the jurisdiction in which the
Property is located and satisfactory to Lender’s Representative; 

  

	 	(C)	a certificate of Borrower, in form and substance satisfactory to Lender’s Representative, certifying that all of the conditions and requirements set forth in this
Section 4 have been satisfied; 

  

	 	(D)	a certificate, in form and substance satisfactory to Lender’s Representative, from an independent certified public accountant approved by Lender’s
Representative, certifying that the Government Securities will generate monthly amounts and cash flow that are sufficient, without reinvestment, to timely pay all Scheduled Defeasance Payments (defined below); 

  

	 	(E)	the Defeasance Opinion (defined below); 

  

	 	(F)	written confirmation from the applicable Rating Agency(ies) to the effect that such Release and substitution of Defeasance Collateral (defined below) will not result in
a downgrade, withdrawal or qualification of any rating in effect immediately prior to Defeasance for any Securities; 

  

	 	(G)	if Lender’s Representative requires Borrower to establish the Successor Borrower pursuant to Section 4(f)(vii) below, evidence satisfactory to Lender’s
Representative of the establishment of Successor Borrower, including without limitation, the Successor Borrower’s original organizational documents; 

  

	 	(H)	the Transfer and Assignment Agreement (defined below); and 

  

	 	(I)	such other certificates, documents or instruments as Lender’s Representative may reasonably request. 

  

 -3- 

 (c) Borrower shall have paid to Lender’s Representative all costs and expenses
(including, without limitation, Rating Agency(ies)’, consultants’, accountants’ and attorneys’ fees, costs and expenses) incurred by Lender’s Representative in connection with the matters referred to in this Section 4,
including, without limitation, all costs and expenses incurred in connection with the review of the proposed Defeasance Collateral, the preparation of the Defeasance Security Agreement (and any related documentation) and the establishment and
maintenance of the Successor Borrower, and any administrative expenses and applicable federal income taxes associated with or incurred by the Successor Borrower. 
 (d) The Defeasance Deposit (if required by Lender pursuant to Section 4(b)(5) above) shall be used by Lender’s Representative to purchase the Government Securities. In connection therewith,
Borrower hereby irrevocably appoints Lender’s Representative as Borrower’s agent and attorney-in-fact, which appointment is coupled with an interest, for the purpose of using the Defeasance Deposit to purchase or cause to be purchased the
Government Securities. Borrower, pursuant to the Defeasance Security Agreement or other appropriate documents, shall authorize and direct that the payments received from the Government Securities be made directly to Lender’s Representative and
applied to satisfy the obligations of the Borrower under this Note, including without limitation, this Section 4. Borrower specifically agrees that all power granted to Lender under this Section 4(d) may be assigned by Lender to its
successors or assigns as holder of this Note. 
 (e) Upon satisfaction of all the terms and conditions of Sections 4(b) and
(c) above, the Property shall be released from the lien of the Security Instrument and the other Loan Documents and the Defeasance Collateral shall constitute the sole collateral which shall secure this Note. Lender will, at Borrower’s
sole expense, execute and deliver any agreements reasonably requested by Borrower to release the Property from the lien of the Security Instrument and the other Loan Documents. After payment of the Defeasance Deposit or delivery of the Government
Securities pursuant to Section 4(b)(5) above, notwithstanding any statement to the contrary contained in this Note or in any of the other Loan Documents, this Note cannot be prepaid in whole or in part or be the subject of any further
Defeasance. 
 (f) For the purposes of this Section 4, the following terms shall have the following meanings: 

(i) The term “Defeasance Collateral” shall mean, individually or collectively, as the case may be, the
Defeasance Deposit and the Government Securities and the proceeds thereof. 
 (ii) The term “Defeasance
Deposit” shall mean an amount equal to the sum of: (1) the amount which will be sufficient to purchase the Government Securities necessary to meet the Scheduled Defeasance Payments (including, without limitation, Lender’s
Representative’s estimate of administrative expenses and applicable federal income taxes associated with or to be incurred by the Successor Borrower during the remaining term of, and applicable to, the Loan); (2) any revenue, documentary
stamp or intangible taxes or any other tax or charge due in connection with the transfer of this Note or otherwise required to accomplish the agreements of this Section 4; and (3) all fees, costs and expenses incurred or to be incurred by
Lender in the purchase and holding of the Government Securities; 
 (iii) The term “Defeasance
Opinion” shall mean an opinion of counsel in form and substance satisfactory to Lender’s Representative, from counsel approved by Lender’s Representative, stating, among other things, (A) that the Defeasance Collateral has
been duly and validly assigned and delivered to Lender’s Representative and that Lender has a legal, valid, perfected, first priority lien on and security interest in the Defeasance Collateral, and (B) that if the holder of this Note shall
at the time of the Release be a REMIC, (1) the Defeasance Collateral has been validly assigned to the REMIC trust which holds this Note (the “REMIC Trust”), (2) the Defeasance has been effected in accordance with the
requirements of United States Treasury Department Regulation 1.860(G)-2(a)(8), as such regulation may be amended or substituted from time to time, and will not be treated as an exchange pursuant to Section 1001 of the United States

  

 -4- 

 
Internal Revenue Code and (3) the tax qualification and status of the REMIC Trust as a REMIC will not be adversely affected or impaired as a result of the Defeasance; 
 (iv) The term “Defeasance Security Agreement” shall mean a security agreement, in form and substance
satisfactory to Lender’s Representative, together with such other instruments, agreements and representations and warranties as may be required of Borrower by Lender’s Representative in order to perfect upon the delivery of the Defeasance
Security Agreement a first priority lien on and security interest in the Defeasance Collateral in favor of Lender in conformity with all applicable state and federal laws governing the granting of such security interests, which Defeasance Security
Agreement shall provide, among other things, that any excess received by Lender from the Defeasance Collateral over the amount payable by Borrower hereunder shall on the Release Date be refunded to Borrower and shall thereafter, promptly following
each Monthly Payment date and the Maturity Date, be refunded to Successor Borrower; 
 (v) The term
“Government Securities” shall mean U.S. Treasury Obligations (defined below) or Non-U.S. Treasury Obligations (defined below) which (1) are duly endorsed by the holder thereof as directed by Lender’s Representative or are
accompanied by a valid written instrument of transfer in form and substance satisfactory to Lender’s Representative (including, without limitation, such instruments, agreements and representations and warranties as may be required by
Lender’s Representative or by the depositary holding the Government Securities or the issuer thereof, as the case may be, to effectuate book-entry transfers and pledges through the book-entry facilities of such depositary) in order to perfect
upon the delivery of the Defeasance Security Agreement the first priority security interest therein in favor of Lender in conformity with all applicable state and federal laws governing the granting of such security interests and (2) which
provide payments which are (A) payable on or prior to, but as close as possible to, all successive Monthly Payment dates after the Release Date, and prior to but as close as possible to the Maturity Date and (B) in amounts equal to or
greater than the amounts necessary to meet the scheduled payments of principal and interest due under this Note plus the Lender’s Representative’s estimate of administrative expenses and applicable federal income taxes associated with or
to be incurred by the Successor Borrower during the term of the Loan (the “Scheduled Defeasance Payments”); 
 (vi) The term “Non-U.S. Treasury Obligations” shall mean non-callable, fixed-rate obligations, other than U.S. Treasury Obligations, that are “government securities” within the
meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended; 
 (vii) The term
“Successor Borrower” shall mean an entity established by either Borrower or Lender’s Representative, whichever Lender requires at Lender’s option, which satisfies Lender’s Representative’s requirements
(including, without limitation single purpose entity bankruptcy remoteness criteria) and which has been approved by Lender’s Representative; 
 (viii) The term “Transfer and Assignment Agreement” shall mean an agreement in form and substance satisfactory to Lender’s Representative, together with such other instruments,
agreements and representations and warranties as may be required of Borrower by Lender’s Representative, pursuant to which, among other things: (A) Borrower shall transfer and assign all obligations, rights and duties under and to this
Note together with the pledged Defeasance Collateral to the Successor Borrower; (B) Successor Borrower shall assume the obligations of Borrower under this Note and the Defeasance Security Agreement and Borrower shall be relieved of its
obligations thereunder, except that Borrower shall be required to perform its obligations pursuant to this Section 4; and (C) Borrower shall pay $1,000 to the Successor Borrower as consideration for Successor Borrower assuming the
Borrower’s obligations under this Note and the Defeasance Security Agreement. Notwithstanding anything to the contrary in the Security Instrument, except as provided in this Section 4, no other transfer/assumption fee or processing fee
(including, without limitation, the transfer fee and processing fee referred to in Section 1.15 of

  

 -5- 

 
the Security Instrument) shall be payable upon a transfer of the Note in accordance with the terms and conditions of this paragraph; and 
 (ix) The term “U.S. Treasury Obligations” shall mean direct, non-callable, fixed-rate obligations of the
United States of America. 
 (g) Notwithstanding the fact that prepayments are prohibited except as
expressly set forth in this Section 4, if this Note is prepaid (other than a prepayment pursuant to Section 4(h) below or in connection with the application of Net Proceeds as referred to in Section 4(a) above), in full or in part, by
operation of law, Borrower’s default or otherwise, or following an Event of Default and acceleration of this Note, if a tender of payment of the amount necessary to satisfy the indebtedness evidenced by this Note and secured by the Security
Instrument is made at any time prior to foreclosure sale, or during any redemption period after foreclosure, there shall be payable to Lender, at the same time, (i) accrued and unpaid interest on the portion of the principal balance of this
Note being prepaid to and including the date of prepayment, (ii) unless prepayment is tendered on the eleventh (11th) day of a calendar month, an amount equal to the interest that would have accrued on the amount being prepaid from the
date of prepayment to and including the tenth (10th) day of the current calendar month (if prepayment is tendered on or after the first (1st) day of a calendar month and prior to the eleventh (11th) day of a calendar month) or the tenth (10th) day of the next succeeding calendar month (if the prepayment is tendered after the eleventh (11th) day of a calendar month) (which amount shall constitute
additional consideration for the prepayment), (iii) all other sums then due under this Note, the Security Instrument and the other Loan Documents, (iv) to the maximum extent permitted by law, a Prepayment Charge, and (v) an additional
prepayment consideration equal to one percent (1%) of the outstanding principal balance of this Note. 
 “Prepayment Charge” shall mean an amount determined as of the date of any prepayment or acceleration of this Note, which will be the greater of (a) 1% of the principal amount prepaid, or (b) the amount obtained by
subtracting (i) the sum of (x) the unpaid principal amount being prepaid, plus (y) the amount of interest thereon accrued to the date of such prepayment or acceleration, as the case may be, from (ii) the sum of the Current Values
(defined below) of all amounts of principal and interest on this Note being prepaid or accelerated that would otherwise have become due on and after the date of such determination if this Note was not being prepaid or accelerated. The
“Current Value” of any amount payable means such amount discounted (on a semiannual basis) to its present value on the date of determination at the Treasury Yield (defined below) per annum in accordance with the following formula:

  

			
		  	Amount Payable
	Current Value =	  	       (1+d/2)n

 where “d” is the Treasury Yield per annum expressed as a decimal and “n” is an exponent (which need not be an integer) equal to the number of semiannual periods and portions thereof
(any such portion of a period to be determined by dividing the number of days in such portion of such period by the total number of days in such period, both computed on the basis of a 30-day month and a 360-day year) between the date of such
determination and the due date of the amount payable. For such purpose, the due date of any amount of principal of this Note being partially prepaid means the date or dates as of which such amount is to be credited first against the Borrower’s
obligation to make the scheduled payment of principal on the Maturity Date, then, to the extent of the principal being prepaid, to each preceding scheduled required installment of principal pursuant to this Note. The “Treasury
Yield” shall be determined by reference to the most recent Federal Reserve Statistical Release H.15(519) which has become publicly available at least two (2) business days prior to the date fixed for prepayment or the acceleration date
(or, if such Statistical Release is no longer published, any publicly available source of similar market data) and shall be the most recent weekly average yield on actively traded U.S. Treasury securities adjusted to a constant maturity equal to the
then remaining Weighted Average Life to the Maturity (defined below) of this Note (the “Remaining Life”). If the Remaining Life is not equal to the constant maturity of a U.S. Treasury security for which a weekly average yield is
given, the Treasury Yield shall be obtained by linear interpolation (calculated to the nearest one-twelfth (1/12) of a year) from the weekly average yields of (a) the actively traded U.S. Treasury security with the constant maturity
closest to

  

 -6- 

 
and greater than the Remaining Life of this Note, and (b) the actively traded U.S. Treasury security with the constant maturity closest to and less than the Remaining Life of this Note,
except that if the Remaining Life is less than one (1) year, the weekly average yield on actively traded U.S. Treasury securities adjusted to a constant maturity of one (1) year shall be used. “Weighted Average Life to
Maturity” means, as applied to this Note at any date, the number of years obtained by dividing (x) the then outstanding principal amount of this Note into (y) the total of the products obtained by multiplying (A) the amount
of each then-remaining required principal payment including payment at the Maturity Date, in respect thereof, by (B) the number of years (calculated to the nearest one-twelfth (1/12)) which will elapse between such date and the date on
which such payment is to be made. 
 Borrower shall pay the Prepayment Charge as provided above whether or not prepayment is
voluntary or involuntary, including, without limitation, any prepayment due to the acceleration of the outstanding principal balance of this Note as a result of the occurrence of an Event of Default. 
 (h) Notwithstanding anything to the contrary herein, provided no Event of Default exists and so long as no Defeasance
has occurred, from and after the due date of the Monthly Payment that is two (2) months prior to the Maturity Date, Borrower may prepay the unpaid principal balance of this Note in whole, but not in part, provided that the following
conditions have been satisfied: (i) Borrower shall have provided Lender with not less than thirty (30) or more than sixty (60) days prior written notice (the “Prepayment Notice”) specifying the Monthly Payment date on
which prepayment is to be made (the “Prepayment Date”); (ii) Borrower shall have paid to Lender all accrued and unpaid interest on the outstanding principal balance of this Note to and including the Prepayment Date;
(iii) unless prepayment is tendered on the eleventh (11th) day of a calendar month, an amount equal to the interest that would have accrued on the amount being prepaid from the date of prepayment to and including the tenth (10th) day of the current calendar month (if prepayment is tendered
on or after the first (1st) day of a calendar month
and prior to the eleventh (11th) day of a calendar
month) or the tenth (10th) day of the next succeeding
calendar month (if the prepayment is tendered after the eleventh (11th) day of a calendar month) (which amount shall constitute additional consideration for the prepayment); and (iv) Borrower shall have paid to Lender all other sums then due under this Note, the
Security Instrument and the other Loan Documents. 
  

	5.	BORROWER’S FAILURE TO PAY AS REQUIRED. 

 (a) Late Charges for Overdue Payments. If Lender has not received the full amount of any Monthly Payment by the date it is due, Borrower shall pay a late charge to Lender. The amount of such late
charge will be four percent (4%) of such overdue payment which shall be calculated as of the date such payment was originally due. Borrower will pay such late charge promptly but only once on each late payment. Such late charge represents the
reasonable estimate of Lender and Borrower of a fair average compensation for the loss that may be sustained by Lender due to the failure of Borrower to make timely Monthly Payments. Such late charge shall be paid without prejudice to the right of
Lender to collect any other amounts provided to be paid upon an Event of Default, including without limitation interest at the Default Rate, or to declare a default hereunder, under the Security Instrument or under any of the other Loan Documents.
Borrower recognizes (i) that its default in making, when due, any payment under this Note or under any of the other Loan Documents, or the occurrence of any other Event of Default, will result in (x) Lender incurring additional expenses in
servicing and administering the Loan, (y) in loss to the Lender of the use of the overdue payment and (z) frustration to Lender in meeting its other financial and loan commitments, and (ii) that the damages caused thereby would be
extremely difficult and impractical to ascertain. Borrower agrees (aa) that an amount equal to such late charge plus the accrual of interest at the Default Rate pursuant to Section 5 below is a reasonable estimate of the damage to Lender in the
event of an overdue payment and (bb) that the accrual of interest at the Default Rate following any other Event of Default is a reasonable estimate of the damage to Lender in the event of such other Event of Default, regardless of whether there has
been an acceleration of this Note. 
 (b) Default and Acceleration; Default Rate. If any payment required in this Note
(including, without limitation, any Monthly Payment) or any other payment under any of the Loan Documents is not paid on or prior to the date when due after the expiration of any applicable notice and grace periods

  

 -7- 

 
expressly provided in the Loan Documents, or on the happening of any other Event of Default, then the whole of the principal sum of this Note, (i) interest, default interest, Prepayment
Charge, late charges and other sums, as provided in this Note, the Security Instrument or the other Loan Documents, (ii) all other monies agreed or provided to be paid by Borrower in this Note, the Security Instrument or the other Loan
Documents, (iii) all sums advanced pursuant to the Security Instrument to protect and preserve the Property and the lien and the security interest created thereby, and (iv) all sums advanced and costs and expenses incurred by Lender in
connection with the indebtedness evidenced by the Loan Documents or any part thereof, any renewal, extension, or change of or substitution thereof, or the acquisition or perfection of the security therefor, whether made or incurred at the request of
Borrower or Lender, shall without notice become immediately due and payable at the option of Lender, together with all the interest that Borrower owes on such amounts at the Default Rate. The “Default Rate” is equal to the
Applicable Interest Rate plus four percent (4%), and shall accrue from and after the date any such payment was originally due (without taking into account any applicable notice or grace periods). This provision shall not be deemed to excuse a
default hereunder or an Event of Default under the Security Instrument and shall not be deemed a waiver of any other rights Lender may have, including the right to declare the entire unpaid principal balance and accrued interest immediately due and
payable. 
 (c) No Waiver by Lender. 
 (i) Lender shall not be deemed to have waived any of its rights or remedies under this Note unless such waiver is expressed
in writing by Lender, and no delay or omission by Lender in exercising, or failure by Lender on any one or more occasions to exercise, any of Lender’s rights hereunder or under the Loan Documents, or at law or in equity, including, without
limitation, Lender’s right, after the occurrence of any Event of Default, to declare the entire indebtedness evidenced hereby immediately due and payable, shall be construed as a novation of this Note or shall operate as a waiver or prevent the
subsequent exercise of any or all such rights. 
 (ii) Acceptance by Lender of any portion or all of any sum
payable hereunder, whether before, on or after the due date of such payment shall not be a waiver of Lender’s right either to require prompt payment when due of all other sums payable hereunder or to exercise any of Lender’s rights, powers
and remedies hereunder or under the Loan Documents. A waiver of any right in writing on one occasion shall not be construed as a waiver of Lender’s rights to insist thereafter upon strict compliance with the terms hereof without previous notice
of such intention being given to Borrower, and no exercise of any right by Lender shall constitute or be deemed to constitute an election of remedies by Lender precluding the subsequent exercise by Lender of any or all of the rights, powers and
remedies available to it hereunder or under the Loan Documents, or at law or in equity. Borrower hereby expressly waives the benefit of any statute or rule of law or of equity now provided, or which may hereafter be provided, which would produce a
result contrary to, or in conflict with, the foregoing. 
 (iii) Even if, at a time when an Event of Default has
occurred, Lender does not accelerate the amounts due under this Note and the other Loan Documents and require Borrower to pay all such amounts immediately in full as described above, Lender shall still have the right to do so at a later time if such
Event of Default is continuing, or upon the occurrence of another Event of Default. 
 (d) Payment of Lender’s Costs and
Expenses. If Lender has required Borrower to pay immediately in full as described above, the Lender shall have the right to be reimbursed by Borrower for all of its costs and expenses in enforcing this Note to the extent not prohibited by
applicable law. Those expenses include, for example, attorneys’ fees, costs and expenses. As used in this Note, “attorneys’ fees, costs and expenses” shall mean the reasonable attorneys’ fees and the costs and expenses of
counsel to Lender (including without limitation in-house counsel employed by Lender), which may include, without limitation, printing, duplicating, telephone, fax, air freight and other charges, and fees billed for law clerks, paralegals,
librarians, expert witnesses and others not admitted to the bar but performing services under the supervision of an attorney and all such fees, costs and expenses incurred with respect to trial,

  

 -8- 

 
appellate proceedings, arbitrations, out-of-court negotiations, workouts and settlements, and bankruptcy or insolvency proceedings (including, but not limited to, seeking relief from stay in
bankruptcy proceedings), and whether or not any action or proceeding is brought or is concluded with respect to the matter for which such fees, costs and expenses were incurred. Lender shall also be entitled to its attorneys’ fees, costs and
expenses incurred in any post-judgment action or proceeding to enforce and collect the judgment. This Section 5(d) is separate and several, shall survive the discharge of this Note, and shall survive the merger of this Note into any judgment on
this Note. 
  

	6.	NOTICES. 

 All notices
required or permitted hereunder shall be given and become effective as provided in the Security Instrument. 
  

	7.	WAIVERS. 

 Borrower and
all others who may become liable for the payment of all or any part of the indebtedness evidenced by this Note do hereby severally waive presentment and demand for payment, notice of dishonor, protest and notice of protest and non-payment and all
other notices of any kind, except those notices for which the Loan Documents expressly provide. No release of any security for the Note or extension of time for payment of this Note or any installment hereof, and no alteration, amendment or waiver
of any provision of this Note, the Security Instrument or the other Loan Documents made by agreement between Lender or any other person or party shall release, modify, amend, waive, extend, change, discharge, terminate or affect the liability of
Borrower, and any other person or entity who may become liable for the payment of all or any part of the indebtedness evidenced by this Note, the Security Instrument or the other Loan Documents. No notice to or demand on Borrower shall be deemed to
be a waiver of the obligation of Borrower or of the right of Lender to take further action without further notice or demand as provided for in this Note, the Security Instrument or the other Loan Documents. 
  

	8.	SECURED NOTE. 

 The
obligations of Borrower under this Note are secured by that certain Commercial Mortgage, Security Agreement, Fixture Filing Financing Statement and Assignment of Leases, Rents, Income and Profits (the “Security Instrument”), of even
date herewith, which contains provisions for acceleration of the entire indebtedness secured hereby upon the happening of certain events. 
  

	9.	TRANSFER. 

 Upon the
transfer of this Note, Borrower hereby waiving notice of any such transfer, Lender may deliver all the collateral mortgaged, granted, pledged or assigned pursuant to the Security Instrument and the other Loan Documents, or any part thereof, to the
transferee who shall thereupon become vested with all the rights herein or under applicable law given to Lender with respect thereto, and Lender shall thereafter forever be relieved and fully discharged from any liability or responsibility in the
matter, but Lender shall retain all rights hereby given to it with respect to any liabilities and the collateral not so transferred. 
  

	10.	EXCULPATION. 

 Except
with respect to the matters set forth in subsections (a) and (b) below, Lender’s source of satisfaction of the indebtedness evidenced by this Note and all other covenants and obligations under this Note and any other of the Loan
Documents shall be limited to the Property, and Lender shall not seek to procure payment out of other assets of Borrower, or seek a judgment (except as hereinafter provided) for any sums which are or may be payable under this Note or any other of
the Loan Documents, or claim or seek judgment for any deficiency remaining after foreclosure of the Security Instrument; provided, however, that the foregoing clause shall not prejudice the right of Lender to enforce the lien of the Security

  

 -9- 

 
Instrument or other security given for the payment thereof or to exercise any of its remedies at law other than the entry of a personal money judgment against the Borrower. The foregoing
notwithstanding: 
 (a) Borrower shall be and remain personally liable for all losses, costs, damages, or expenses incurred by
Lender in the following instances: 
 (i) Reserved; 
 (ii) as a result of waste (except ordinary wear and tear), arson committed or instigated by Borrower, any Guarantor or any
partner, member or shareholder in Borrower, or a violation of the provisions in the Security Instrument regarding removal, demolition or structural alteration of any portion of the Property, subject to the terms and conditions of Section 1.32 of the
Security Agreement; 
 (iii) Reserved; 
 (iv) Reserved; 
 (v) Borrower’s breach or failure to perform or comply with Section 1.03 (captioned “Hazardous Waste”) of the Security Instrument, or Borrower’s or any Guarantor’s
breach or failure to perform or comply with the provisions of the Environmental Indemnification Agreement of even date herewith executed by Borrower for the benefit of Lender; 
 (vi) misapplication of or failure to deliver to Lender (in accordance with the terms of the Loan Documents) the following:
(1) any insurance or condemnation proceeds; (2) rents, issues or profits received by Borrower/Guarantor or its agent after Lender makes written demand therefor pursuant to any Loan Document; or (3) prepaid rents or tenant security
deposits; or 
 (vii) violation of any of the provisions of Sections 1.29 and 1.30 (captioned “Single
Purpose Entity” and “ERISA”, respectively) of the Security Instrument. 
 (b) Borrower shall be and remain
personally liable without exculpation or limitation of liability whatsoever for the entire amount of the indebtedness evidenced by the Note (including all principal, interest, and other charges) and all other sums due or to become due under the
other Loan Documents, whether at maturity or by acceleration or otherwise, in the following instances: 
 (i)
violation of any of the provisions of Sections 1.15(c) and (d) of the Security Instrument (captioned, “No Sale/Encumbrance” and “Permitted Transfers”, respectively); 
 (ii) fraud or intentional misrepresentation in connection with the Property, Loan Documents, or Loan Application; or

 (iii) the Property or any part thereof becomes an asset in: (1) a voluntary bankruptcy or insolvency
proceeding commenced by Borrower; or (2) an involuntary bankruptcy or insolvency proceeding in which: (A) such proceeding was commenced by any entity controlling, controlled by or under common control with Borrower (individually or
collectively, “Affiliate”), including but not limited to any creditor or claimant acting in concert with Borrower or any Affiliate; or (B) any Affiliate objects to a motion by Lender for relief from any stay or injunction from
the foreclosure of the Security Instrument or any other remedial action permitted under the Note, Security Instrument or other Loan Documents. 
  

 -10- 

	11.	SAVINGS CLAUSE. 

 Notwithstanding any provisions in this Note or in the Security Instrument to the contrary, the total liability for payments in the nature of interest, including, without limitation, prepayment charges, default interest and late fees, shall
not exceed the limits imposed by the laws of the State where the Property is located or the United States of America relating to maximum allowable charges of interest. Lender shall not be entitled to receive, collect or apply, as interest on the
indebtedness evidenced by the Note, any amount in excess of the maximum lawful rate of interest permitted to be charged by applicable law. If Lender ever receives, collects or applies as interest such amount which would be excessive interest, such
amount shall be applied to reduce the unpaid principal balance of this Note, and any remaining excess shall be paid over to person or persons legally entitled thereto. 
  

	12.	JOINT AND SEVERAL OBLIGATIONS. 

 If this Note is signed by more than one party, all obligations herein contained shall be deemed to be the joint and several obligations of each party executing this Note. Any married person signing this Note agrees that recourse may be had
against community assets and against his or her separate property for the satisfaction of all obligations contained herein. 
  

	13.	WAIVER OF TRIAL BY JURY. 

 BORROWER AND LENDER HEREBY IRREVOCABLY WAIVE TO THE FULLEST EXTENT PERMITTED BY LAW, ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THE SECURITY INSTRUMENT, THIS NOTE AND/OR ANY OF
THE OTHER LOAN DOCUMENTS OR ANY ACTS OR OMISSIONS OF LENDER IN CONNECTION THEREWITH. 
  

	14.	OFFSETS. 

 No
indebtedness evidenced by this Note shall be deemed to have been offset or to be offset or compensated by all or part of any claim, cause of action, counterclaim or cross claim, whether liquidated or unliquidated, which Borrower or any successor to
Borrower now or hereafter may have or may claim to have against Lender; and, in respect to the indebtedness now or hereafter secured hereby, Borrower waives, to the fullest extent permitted by law, the benefits of any law which authorizes or permits
such offsets. 
  

	15.	MISCELLANEOUS. 

 (a)
Remedies Cumulative. The remedies of Lender as provided herein and in any other Loan Document, or any one or more of them, or at law or in equity, shall be cumulative and concurrent, and may be pursued singly, successively, or together at the
sole discretion of Lender, and may be exercised as often as occasion thereof shall occur. 
 (b) Severability. Every
provision of this Note is intended to be severable. In the event any term or provision hereof is declared by a court of competent jurisdiction to be illegal or invalid for any reason whatsoever, such illegal or invalid term or provision shall not
affect the balance of the terms and provisions hereof, which terms and provisions shall remain binding and enforceable. 
 (c)
Headings. The headings and captions of various Sections of this Note are for convenience of reference only and are not to be construed as defining or limiting, in any way, the scope or intent of the provisions hereof. 
 (d) Governing Law. This Note shall be governed by and construed and enforced in accordance with the laws of the State where the
Property is located. 
  

 -11- 

 (e) Amendments. This Note, and any provisions hereof, may not be modified, amended,
waived, extended, changed, discharged or terminated orally or by any act or failure to act on the part of any party, but only by an instrument in writing signed by the party against whom enforcement of any modification, amendment, waiver, extension,
change, discharge or termination is sought. 
 (f) Interpretation. Whenever the context may require, any pronouns used
herein shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice versa. 
 (g) Submission and Consent to Jurisdiction. Borrower, in consideration of making the loan evidenced by this Note, agrees that all actions or proceedings arising directly, indirectly or otherwise in
connection with this Note shall be litigated, at Lender’s election, only in courts having a situs within the county and State where the Property is located, in any jurisdiction in which the Borrower (or any individual or entity comprising the
Borrower) may reside or hold assets, or in any one or more of the foregoing jurisdictions and Borrower hereby consents and submits to the jurisdiction of any local, state or federal court located therein. Borrower irrevocably waives the defense of
inconvenient forum to the maintenance of such action or proceeding. Borrower hereby consents to service of process by any means permitted by applicable law. 
 (h) Clerical Error. In the event Lender at any time discovers that this Note, the Security Instrument or any other Loan Document contains an error that was caused by a clerical mistake, calculation
error, computer malfunction, printing error or similar error, Borrower agrees, upon notice from Lender, to re-execute any documents that are necessary to correct any such error(s). Borrower further agrees that Lender will not be liable to Borrower
for any damages incurred by Borrower that are directly or indirectly caused by any such error(s). 
 (i) Lost, Stolen,
Destroyed or Mutilated Loan Documents. In the event of the loss, theft or destruction of this Note, the Security Instrument, or any other Loan Document, upon receipt of an affidavit from Lender attesting to such occurrence or in the event of the
mutilation of any of the Loan Documents, upon Lender’s surrender to Borrower of the mutilated Loan Document, Borrower shall execute and deliver to Lender a Loan Document in form and content identical to, and to serve as a replacement of, the
lost, stolen, destroyed, or mutilated Loan Document and such replacement shall have the same force and effect as the lost, stolen, destroyed, or mutilated Loan Document, and may be treated for all purposes as the original copy of such Loan Document.

 (j) Time is of the Essence. TIME IS OF THE ESSENCE IN THE PERFORMANCE OF EACH PROVISION OF THIS NOTE. 
 (k) Legislation Affecting Lender’s Rights. If enactment or expiration of applicable laws has the effect of rendering any
material provision of this Note or the Security Instrument unenforceable according to its terms, Lender, at its option, may require immediately payment in full of all sums evidenced by this Note and may invoke any remedies permitted under the Loan
Documents. 
 (l) Disbursements. Funds representing the proceeds of the indebtedness evidenced hereby which are disbursed
by Lender by mail, wire transfer or other delivery to Borrower, to escrows or otherwise for the benefit of Borrower shall, for all purposes, be deemed outstanding hereunder and to have been received by Borrower as of the date of such mailing, wire
transfer, or other delivery and until repaid, notwithstanding the fact that such funds may not at any time have been remitted by such escrows to Borrower or for Borrower’s benefit. 
  

 -12- 

 (m) Exempted Transaction. Borrower agrees that (i) the payment obligations
evidenced by this Note and the other instruments securing this Note are exempted transactions under the Truth in Lending Act 15 USC § 1601, et seq.; (ii) the proceeds of the indebtedness evidenced by this Note will not be used
for the purchase of registered equity securities within the purview of Regulation “U” issued by the Board of Governors of the Federal Reserve System; and (iii) on the Maturity Date, Lender shall not have any obligation to refinance
the indebtedness evidenced by this Note or to extend further credit to Borrower. 
 [SIGNATURE PAGE(S) ATTACHED]

  

 -13- 

 IN WITNESS WHEREOF, Borrower has duly executed this Note as of the day and year first
above written. 
  

			
	 PLAINFIELD PARTNERS, LLC,
 a Delaware limited liability company

		
	By:	 	 Plainfield Acquisitions, LLC
 a
Delaware limited liability company
 Managing Member

		
	By:	 	/s/ Kevin A. Shields
		 	Kevin A. Shields, Managing Member

 Borrower
Taxpayer ID/SSN: 36-4439629 
  

 -14-Support Agreement

 Exhibit 10.1 
 SUPPORT AGREEMENT 
 SUPPORT AGREEMENT (this
“Agreement”) dated as of March 29, 2010 between Microsemi Corporation, a Delaware corporation (“Parent”), Rabbit Acquisition Corp., an Indiana corporation and wholly-owned subsidiary of Parent
(“Purchaser”), and certain shareholders of White Electronic Designs Corporation, an Indiana corporation (the “Company”), listed on Annex I (each, a “Shareholder”), each an owner of
Company Shares. 
 RECITALS 
 WHEREAS, as of the date hereof, each Shareholder on Annex I is the holder of the number of Company Shares set forth opposite such Shareholder’s name (all such directly or indirectly owned
Company Shares that are outstanding as of the date hereof, together with any Company Shares that are hereafter issued to or otherwise acquired or owned by any Shareholder prior to the termination of this Agreement (including pursuant to any exercise
of Company Stock Options, acquisition by purchase, or stock dividend, distribution, split-up, recapitalization, combination or similar transaction, the “Subject Shares”)); 
 WHEREAS, as a condition to their willingness to enter into the Agreement and Plan of Merger (the “Merger Agreement”) dated
as of the date hereof among Parent, Purchaser and the Company, Parent and Purchaser have required that each Shareholder, and in order to induce Parent and Purchaser to enter into the Merger Agreement each Shareholder has agreed to, enter into this
Agreement; and 
 WHEREAS, capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed
to such terms in the Merger Agreement, and the other definitional and interpretative provisions set forth in Sections 1.1 and 10.9 of the Merger Agreement shall apply hereto as if such provisions were set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth below,
the parties hereto agree as follows: 
 ARTICLE I 
 REPRESENTATIONS AND WARRANTIES OF THE SHAREHOLDERS 
 Each Shareholder represents and warrants to Parent and Purchaser as to itself, severally and not jointly, that: 
 Section 1.1 Authorization; Binding Agreement. If such Shareholder is not a natural person, such Shareholder is an entity duly
organized, validly existing and in good standing under the laws of its jurisdiction of organization, and the execution, delivery and performance by such Shareholder of this Agreement and the consummation of the transactions contemplated hereby are
within such Shareholder’s corporate or organizational powers and have been duly authorized by all necessary corporate or organizational actions on the part of such Shareholder. If such Shareholder is a natural person, the execution, delivery
and performance by such Shareholder of this Agreement and the consummation of the transactions contemplated hereby are within his or her legal capacity and requisite powers, and if this Agreement is being executed in a representative or fiduciary
capacity, the person signing this Agreement has full power and authority to execute, deliver and perform this Agreement. This Agreement constitutes a valid and binding agreement of such Shareholder enforceable against such Shareholder in accordance
with its terms, except (i) as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar applicable Law, now or hereafter in effect, affecting creditors’ rights generally and (ii) the
remedy of specific performance and injunctive and other forms of equitable relief

 
may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be brought. 
 Section 1.2 Non-Contravention. The execution, delivery and performance by such Shareholder of this Agreement and the consummation of
the transactions contemplated hereby do not and will not (i) if such Shareholder is not a natural person, violate any certificate of incorporation, bylaws or other organizational documents of such Shareholder, (ii) violate any applicable
Law applicable to such Shareholder, (iii) require any consent or other action by any person under, constitute a default under, or give rise to any right of termination, cancellation or acceleration or to a loss of any benefit to which such
Shareholder is entitled under any provision of any material agreement or material permit binding on such Shareholder or (iv) result in the imposition of any Lien on any asset of such Shareholder, in the cases of (iii) or (iv) above,
in a manner that would prevent in any material respect such Shareholder from fulfilling its obligations hereunder. No governmental licenses, authorizations, permits, consents or approvals are required in connection with the execution and delivery of
this Agreement by such Shareholder or the consummation by such Shareholder of the transactions contemplated hereby, except for applicable requirements, if any, under the Exchange Act and any other applicable U.S. state or federal securities laws.

 Section 1.3 Absence of Litigation. As of the date hereof, there is no Action pending against, or, to the knowledge of
such Shareholder, threatened against or otherwise affecting, such Shareholder or any of its properties or assets (including such Shareholder’s Subject Shares) that could reasonably be expected to impair in any material respect the ability of
such Shareholder to perform its obligations hereunder or to consummate the transactions contemplated hereby on a timely basis. 
 Section 1.4 Ownership of Subject Shares; Total Shares. Such Shareholder is the record or beneficial owner of its Subject Shares and, as of the date of Purchaser’s acceptance of the Subject Shares in the Offer, such Shareholder
will have good, valid and marketable title to the Subject Shares, in each case, free and clear of any Lien and any other limitation or restriction (including any restriction on the right to vote or otherwise transfer such Subject Shares), except as
provided hereunder or pursuant to any applicable restrictions on transfer under the Securities Act and subject to any risk of forfeiture with respect to any Subject Shares consisting of unvested restricted stock pursuant to any agreement with the
Company. As of the date hereof, such Shareholder does not own, beneficially or otherwise, any Company Securities other than (x) as set forth opposite such Shareholder’s name in Annex I and (y) the Company Stock Options and
Company RSUs set forth opposite such Shareholder’s name on Section 4.3(f) of the Disclosure Schedule. 
 Section 1.5
Voting Power. Such Shareholder has full voting power, with respect to its Subject Shares, and full power of disposition, full power to issue instructions with respect to the matters set forth herein, and full power to agree to all of the
matters set forth in this Agreement, in each case with respect to all of its Subject Shares. None of such Shareholder’s Subject Shares are subject to any voting trust or other agreement or arrangement with respect to the voting of such shares,
except as provided hereunder. 
 Section 1.6 Finder’s Fees. Except as provided in the Merger Agreement, no
investment banker, broker, finder or other intermediary is entitled to a fee or commission from the Company or any Company Subsidiary in connection with the transactions contemplated by the Merger Agreement or this Agreement based solely upon any
arrangement or agreement made by or on behalf of such Shareholder. 
 Section 1.7 Reliance by Parent. Such Shareholder
understands and acknowledges that Parent is entering into the Merger Agreement in reliance upon such Shareholder’s execution and delivery of this Agreement. 
  

 2 

 ARTICLE II 
 REPRESENTATIONS AND WARRANTIES OF PARENT AND PURCHASER 
 Each of Parent and Purchaser hereby, jointly and severally, represents and warrants to the Shareholders as follows: 
 Section 2.1 Authorization; Binding Agreement. Each of Parent and Purchaser is a corporation duly organized, validly existing and in
good standing under the laws of the State of Delaware and the State of Indiana, respectively, and the execution, delivery and performance by Parent and Purchaser of this Agreement and the consummation of the transactions contemplated hereby are
within Parent’s and Purchaser’s corporate powers and have been duly authorized by all necessary corporate actions on the part of Parent and Purchaser. This Agreement constitutes a valid and binding agreement of Parent and Purchaser
enforceable against Parent and Purchase in accordance with its terms, except (i) as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar applicable Law, now or hereafter in effect, affecting
creditors’ rights generally and (ii) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to equitable defenses and to the discretion of the court before which any proceeding therefor may be
brought. 
 Section 2.2 Non-Contravention. The execution, delivery and performance by Parent and Purchaser of this
Agreement and the consummation of the transactions contemplated hereby do not and will not (i) violate any certificate of incorporation, bylaws or other organizational documents of Parent or Purchaser, (ii) violate any applicable Law
applicable to Parent or Purchaser, (iii) require any consent or other action by any person under, constitute a default under, or give rise to any right of termination, cancellation or acceleration or to a loss of any benefit to which Parent or
Purchaser are entitled under any provision of any material agreement or material permit binding on Parent or Purchaser or (iv) result in the imposition of any Lien on any asset of Parent or Purchaser, in the case of each of clauses
(ii) through (iv) such as, individually or in the aggregate, would not prevent or materially delay Parent’s or Purchaser’s ability to perform its obligations hereunder. No governmental licenses, authorizations, permits, consents
or approvals are required in connection with the execution and delivery of this Agreement by Parent and Purchaser or the consummation by Parent and Purchaser of the transactions contemplated hereby, except for applicable requirements, if any, under
the Exchange Act and any other applicable U.S. state or federal securities laws and for such licenses, authorizations, permits, consents or approvals the absence of which, individually or in the aggregate, would not prevent or materially delay
Parent’s or Purchaser’s ability to perform its obligations hereunder. 
 ARTICLE III 
 COVENANTS OF THE SHAREHOLDERS 
 Subject to Section 4.13, each Shareholder hereby covenants and agrees as to itself, severally and not jointly, that: 
 Section 3.1 Voting of Subject Shares. At every meeting of the shareholders of the Company called, and at every adjournment or
postponement thereof, such Shareholder shall, or shall cause the holder of record on any applicable record date to, vote its Subject Shares (to the extent that any of such Shareholder’s Subject Shares are not purchased in the Offer) (i) in
favor of the approval of the Merger Agreement and the transactions contemplated thereby, (ii) against (A) any agreement or arrangement related to any Acquisition Proposal, (B) any liquidation, dissolution, recapitalization,
extraordinary dividend or other significant corporate reorganization of the Company or any Company Subsidiary or (C) any other proposal or transaction the approval of which is intended or could reasonably be expected to impede, interfere with,
prevent, postpone, discourage, frustrate or materially delay the Offer or the Merger and (iii) in favor of any other matter necessary for consummation of the transactions

  

 3 

 
contemplated by the Merger Agreement, which is considered at any such meeting of shareholders, and in connection therewith to execute any documents reasonably requested by Parent which are
necessary or appropriate in order to effectuate the foregoing. 
 Section 3.2 Irrevocable Proxy. In order to secure the
performance of such Shareholder’s obligations under this Agreement, by entering into this Agreement, such Shareholder hereby irrevocably grants a proxy appointing each executive officer of Purchaser as such Shareholder’s attorney-in-fact
and proxy, with full power of substitution, for and in its name, to vote, express consent or dissent, or otherwise to utilize such voting power, in each case, in the manner contemplated by Section 3.1. Such Shareholder hereby further affirms
that such irrevocable proxy is given to secure the performance of the duties of such Shareholder under this Agreement and that such irrevocable proxy is coupled with an interest and may under no circumstances be revoked. Such Shareholder hereby
ratifies and confirms all that such irrevocable proxy may lawfully do or cause to be done pursuant to the terms hereof. Such irrevocable proxy is executed and intended to be irrevocable in accordance with the provisions of Section 23-1-30-4(e)
of the IBCL. The proxy granted by such Shareholder pursuant to this Section 3.2 shall automatically terminate, without any notice or other action by any person, upon termination of this Agreement in accordance with its terms. Such Shareholder
hereby revokes any and all previous proxies granted with respect to its Subject Shares. If any Shareholder is the beneficial owner, but not the record owner, of any of the Subject Shares, such Shareholder shall cause the record owner thereof to
execute and grant an irrevocable proxy conforming to the above provisions of this Section 3.2. 
 Section 3.3 No
Transfers; No Inconsistent Arrangements. 
 (a) Except as provided hereunder or under the Merger Agreement,
such Shareholder shall not, directly or indirectly, (i) transfer (which term shall include any sale, assignment, gift, pledge, hypothecation or other disposition), or consent to or permit any such transfer of, any or all of its Subject Shares,
or any interest therein, or create, agree to create or voluntarily permit to exist any Lien, other than any restrictions imposed by applicable Law or pursuant to this Agreement, on any such Subject Shares, (ii) enter into any Contract with
respect to any transfer of such Subject Shares or any interest therein, (iii) grant or permit the grant of any proxy, power of attorney or other authorization in or with respect to such Subject Shares, (iv) deposit or permit the deposit of
such Subject Shares into a voting trust or enter into a voting agreement or arrangement with respect to such Subject Shares or (v) take, agree to take or voluntarily permit any other action that would in any way restrict, limit or interfere
with the performance of its obligations under this Agreement or the transactions contemplated hereby or otherwise make any representation or warranty of each Shareholder herein untrue or incorrect; provided, however, that the Shareholder may
determine, in its sole discretion, to tender the Subject Shares in the Offer, but is under no obligation to do so. Notwithstanding the foregoing, such Shareholder may make transfers of Subject Shares by will or by operation of law or other transfers
pursuant to charitable gifts or donations or for estate planning purposes, in which case the Subject Shares shall continue to be bound by this Agreement and provided that each transferee agrees in writing to be bound by the terms and conditions of
this Agreement. 
 (b) Any attempted transfer of Subject Shares, or any interest therein, in violation of this
Section 3.3 shall be null and void. In furtherance of this Agreement, such Shareholder shall and hereby does authorize the Company to notify the Company’s transfer agent that there is a stop transfer restriction with respect to all of its
Subject Shares (and that this Agreement places limits on the voting and transfer of its Subject Shares) pursuant to the terms of this Agreement; provided, that any such stop transfer restriction shall terminate automatically, without any
notice or other action by any person, upon the termination of this Agreement in accordance with Section 4.3 and, upon such event, Parent and the Company shall promptly notify the Company’s transfer agent of such termination. 
  

 4 

 Section 3.4 No Exercise of Appraisal Rights. Such Shareholder agrees not to exercise
any appraisal rights or dissenters’ rights in respect of its Subject Shares which may arise with respect to the Merger. 
 Section 3.5 Legends. If so requested by Parent, such Shareholder agrees that its Subject Shares shall bear a legend stating that they are subject to this Agreement; provided, that the Company shall remove such legend upon the
Termination Date. 
 Section 3.6 Documentation and Information. Such Shareholder (i) subject to reasonable prior
notice to such Shareholder, consents to and authorizes the publication and disclosure by Parent of its identity and holding of Subject Shares, the nature of its commitments and obligations under this Agreement (including, for the avoidance of doubt,
the disclosure of this Agreement) and any other information, in each case, that Parent reasonably determines is required to be disclosed by applicable Law in any press release, the Offer Documents, or any other disclosure document in connection with
the Offer, the Merger and any transactions contemplated by the Merger Agreement and (ii) agrees promptly to give to Parent any information it may reasonably require for the preparation of any such disclosure documents. Such Shareholder agrees
to promptly update any written information supplied by it specifically for use in any such disclosure document, if and to the extent that any such information shall have become false or misleading in any material respect. 
 Section 3.7 Public Statement. Such Shareholder shall not issue any press release or make any other public statement with respect to
this Agreement, the Offer, the Merger Agreement or any transactions contemplated thereby without the prior consent of Parent and the Company, except as may be required by applicable Law. 
 ARTICLE IV 
 MISCELLANEOUS 
 Section 4.1 Notices. All notices, requests and other communications to any party hereunder shall be in writing (including facsimile
transmission) and shall be given, 
 if to Parent or Purchaser: 
 Microsemi Corporation 
 2381 Morse Avenue 
 Irvine, California 92614 
 Facsimile No. 949-756-0308 
 Attention: David Goren, Esq. 
 with a copy (which shall not constitute notice) to:

 O’Melveny & Myers LLP 
 2765 Sand Hill Road 
 Menlo Park, California 94025 
 Facsimile No. 650-473-2601 
 Attention: Warren Lazarow, Esq. 
  

 5 

 if to any Shareholder, to it at that address specified on Annex I, with copies to the
persons identified therein, 
 with a copy (which shall not constitute notice) to the Company: 
 White Electronic Designs Corporation 
 3601 East University Drive 
 Phoenix, Arizona 85034 
 Facsimile No. 602-437-0556 
 Attention: Chief Executive Officer 
 with a copy (which shall not constitute
notice) to: 
 Wilson Sonsini Goodrich & Rosati 
 Professional Corporation 
 650 Page Mill Road 
 Palo Alto, California 94304 
 Facsimile No. 650-493-6811 
 Attention: Bradley L. Finkelstein, Esq. 
                     Nate Gallon, Esq. 
 or to such other address or facsimile number as such party may hereafter specify for the purpose by notice to each other party hereto. All such notices, requests and other communications shall be deemed received on the date of receipt by
the recipient thereof if received prior to 5:00 p.m. on a business day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding business day. 
 Section 4.2 Further Assurances. 
 (a) Each Shareholder shall, from time to time, execute and deliver, or cause to be executed and delivered, such additional or further transfers, assignments, endorsements and other instruments as Parent
or Purchaser may reasonably request to carry out the transactions expressly set forth in this Agreement. 
 (b)
Parent and Purchaser shall, from time to time, execute and deliver, or cause to be executed and delivered, such additional or further consents and other instruments as any other party may reasonably request to carry out the transactions contemplated
by this Agreement. 
 Section 4.3 Termination. This Agreement shall terminate automatically, without any notice or other
action by any person, upon the earlier of (i) the termination of the Merger Agreement in accordance with its terms and (ii) the Effective Time. The date of any termination of this Agreement in accordance with this Section 4.3 shall be
referred to herein as the “Termination Date.” Notwithstanding the foregoing, nothing set forth in this Section 4.3 or elsewhere in this Agreement shall relieve either party hereto from liability, or otherwise limit the
liability of either party hereto, for any breach of this Agreement. 
 Section 4.4 Amendments and Waivers. 
 (a) Any provision of this Agreement may be amended or waived if such amendment or waiver is in writing and is signed, in the
case of an amendment, by each party to this Agreement or, in the case of a waiver, by each party against whom the waiver is to be effective. 
  

 6 

 (b) No failure or delay by any party in exercising any right, power or
privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided
shall be cumulative and not exclusive of any rights or remedies provided by applicable Law. 
 Section 4.5 Expenses.
Except as otherwise provided herein, all costs and expenses incurred in connection with this Agreement shall be paid by the party incurring such cost or expense. 
 Section 4.6 Binding Effect; Benefit; Assignment. 
 (a) The
provisions of this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. No provision of this Agreement is intended to confer any rights, benefits, remedies, obligations or
liabilities hereunder upon any person other than the parties hereto and their respective successors and assigns. 
 (b) No party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without the consent of each other party hereto, except that each of Parent and Purchaser may transfer or assign its rights and
obligations under this Agreement, in whole or from time to time in part, to one or more direct or indirect wholly owned subsidiaries of Parent at any time; provided, that such transfer or assignment shall not relieve Parent or Purchaser of
any of its obligations hereunder. 
 Section 4.7 Governing Law; Jurisdiction. This Agreement shall be governed and
construed in accordance with the laws of the State of Delaware without regard to any applicable conflicts of law; provided, that Indiana law shall govern with respect to Indiana corporate law issues. All actions and proceedings arising out of or
relating to this Agreement shall be heard and determined in the Delaware Court of Chancery, or if no such state court has proper jurisdiction, then the Federal courts located in the State of Delaware (collectively, the “Delaware
Courts”). The parties hereto hereby (a) submit to the exclusive jurisdiction of the Delaware Courts for the purpose of any Action arising out of or relating to this Agreement brought by any party hereto, and (b) irrevocably waive,
and agree not to assert by way of motion, defense, or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that
the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the Transactions may not be enforced in or by any of the above-named courts. 
 Section 4.8 Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. Each of the parties hereto (a) certifies that no
representative, agent or attorney of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce that foregoing waiver and (b) acknowledges that it and the other hereto
have been induced to enter into this Agreement and the Transactions, as applicable, by, among other things, the mutual waivers and certifications in this. 
 Section 4.9 Counterparts. This Agreement may be executed and delivered (including by facsimile or other form of electronic transmission) in one or more counterparts, and by the different parties
hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. 
  

 7 

 Section 4.10 Entire Agreement. This Agreement constitutes the entire agreement
between the parties with respect to the subject matter of this Agreement and supersedes all prior agreements and understandings, both oral and written, between the parties with respect to its subject matter. 
 Section 4.11 Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any
rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the Transactions is not affected in any manner materially adverse
to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties
as closely as possible in a mutually acceptable manner in order that the Transactions be consummated as originally contemplated to the fullest extent possible. 
 Section 4.12 Specific Performance. The parties hereto agree that each of Parent and Purchaser would be irreparably damaged if for any reason any Shareholder fails to perform any of its obligations
under this Agreement, and that each of Parent and Purchaser would not have an adequate remedy at law for money damages in such event. Accordingly, each of Parent and Purchaser shall be entitled to specific performance and injunctive and other
equitable relief to prevent breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in any Delaware Court, in addition to any other remedy to which they are entitled at law or in equity. 

 

 8 

 Section 4.13 Shareholder Capacity. Notwithstanding any provision of this Agreement to
the contrary, nothing in this Agreement shall (or shall require any Shareholder to attempt to) limit, restrict or otherwise affect any Shareholder who is a director or officer of the Company or any of the Company Subsidiaries from acting in such
capacity (it being understood that this Agreement shall apply to each Shareholder solely in each Shareholder’s capacity as a holder of the Subject Shares) or from fulfilling the obligations and responsibilities of such office (including the
performance of obligations required by the fiduciary obligations and responsibilities under applicable Law of such Shareholder acting solely in his or her capacity as a director or officer). 
 [The remainder of this page is intentionally blank.] 
  

 9 

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

			
	MICROSEMI CORPORATION
		
	By:	 	/s/ JAMES J. PETERSON
	Name:	 	James J. Peterson
	Title:	 	President and Chief Executive Officer
	
	 RABBIT ACQUISITION CORP.

		
	By:	 	/s/ JAMES J. PETERSON
	Name:	 	James J. Peterson
	Title:	 	 President and Chief Executive Officer

 [Signature Page to Support Agreement] 

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

			
	SHAREHOLDER
	
	GERALD R. DINKEL
		
	Signature:	 	/s/ GERALD R. DINKEL

 [Signature Page to Support Agreement] 

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

			
	SHAREHOLDER
	
	JACK A. HENRY
		
	Signature:	 	/s/ JACK A. HENRY

 [Signature Page to Support Agreement] 
  

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

			
	SHAREHOLDER
	
	BRIAN R. KAHN
		
	Signature:	 	/s/ BRIAN R. KAHN

 [Signature Page to Support Agreement] 

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

			
	SHAREHOLDER
	
	MELVIN L. KEATING
		
	Signature:	 	/s/ MELVIN L. KEATING

 [Signature Page to Support Agreement] 

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

			
	SHAREHOLDER
	
	KENNETH J. KRIEG
		
	Signature:	 	/s/ KENNETH J. KRIEG

 [Signature Page to Support Agreement] 

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

			
	SHAREHOLDER
	
	PAUL D. QUADROS
		
	Signature:	 	PAUL D. QUADROS

 [Signature Page to Support Agreement] 

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

			
	SHAREHOLDER
	
	THOMAS J. TOY
		
	Signature:	 	/s/ THOMAS J. TOY

 [Signature Page to Support Agreement] 

 ANNEX I 
  

			
	 Shareholder / Address
	  	Subject Shares
	 Gerald R. Dinkel
	  	—  
	 Jack A. Henry
	  	41,000
	 Brian R. Kahn
	  	5,507,535
	 Melvin L. Keating
	  	40,000
	 Kenneth J. Krieg
	  	22,500
	 Paul D. Quadros
	  	37,500
	 Thomas J. Toy
	  	42,500

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00171-of-00352.parquet"}]]