Document:

Amendment Number Four to the Loan and Security Agreement

 Exhibit 10.26(e) 

AMENDMENT NUMBER FOUR TO 
 LOAN AND SECURITY AGREEMENT 
 This Amendment Number Four to
Loan and Security Agreement (this “Amendment”), dated as of August 15, 2011, is entered into among SPANSION INC., a Delaware corporation (“Parent”), SPANSION LLC, a Delaware limited liability
company (“Spansion”) and certain of Spansion’s subsidiaries party hereto (such subsidiaries together with Spansion, individually, a “Borrower” and, collectively, “Borrowers”), SPANSION
TECHNOLOGY LLC, a Delaware limited liability company (“Spansion Technology”), SPANSION INTERNATIONAL, INC., a Delaware corporation (“Spansion International”), CERIUM LABORATORIES LLC, a Delaware
limited liability company (“Cerium”), SPANSION INTERNATIONAL TRADING, INC., a Delaware corporation (together with Parent, Spansion Technology, Spansion International and Cerium, individually, a “Guarantor”
and collectively, “Guarantors”) each of the lenders set forth on the signature pages hereof (collectively, the “Lenders”), and BANK OF AMERICA, N.A., a national banking association, as Administrative Agent,
as Sole Lead Arranger, as Sole Bookrunner, and as agent for the Lenders (in such capacity, “Agent”). Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Loan Agreement (as
defined below). 
 R E C I T A L S 

WHEREAS, Borrowers, Agent, and the Lenders previously entered into that certain Loan and Security Agreement, dated as of
May 10, 2010 (as amended, restated, amended and restated, supplemented, extended or otherwise modified in writing from time to time, the “Loan Agreement”); 

WHEREAS, Borrowers, Agent, and each Lender desire to amend, in certain respects, the Loan Agreement. Accordingly the
parties hereto hereby agree as follows: 
 A G R E E M E N T 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1.        Amendments to the Loan Agreement.    Agent, each Lender, and Borrowers agree that the Loan Agreement is hereby amended as
follows: 
 (a)        The following definitions set forth in
Section 1.1 of the Loan Agreement are deleted in their entirety and replaced with the following: 

Applicable Margin: with respect to any Type of Revolver Loan, the margin set forth below, as determined by the
Fixed Charge Coverage Ratio for the last Fiscal Quarter: 

  

							
	Level	  	Ratio	  	Base Rate
Revolver
Loans	  	LIBOR
Revolver
Loans
	I	  	> 1.50:1.00	  	1.00%	  	2.00%
	II	  	 > 1.25:1.00
 <
1.50:1.00
	  	1.25%	  	2.25%
	III	  	 > 1:00:1.00
 <
1.25:1.00
	  	1.50%	  	2.50%
	IV	  	< 1:00:1.00	  	2.00%	  	3.00%

 The margins shall be subject to increase or decrease upon receipt by Agent pursuant to
Section 10.1.2 of the financial statements and corresponding Compliance Certificate for the last Fiscal Quarter, which change shall be effective on the first day of the calendar month following receipt. If, by the first day of a month,
any financial statements and Compliance Certificate due in the preceding month have not been received, then, at the option of Agent or Required Lenders, the margins shall be determined as if Level IV were applicable, from such day until the first
day of the calendar month following actual receipt. 
 EBITDA: determined on a consolidated basis for
Parent and Subsidiaries, net income, calculated before interest expense, provision for income taxes, depreciation and amortization expense, gains or losses arising from the sale of capital assets, gains arising from the write-up of assets, losses
arising from impairment of assets, and any extraordinary gains, and to the extent there will be no future cash impact, non-cash compensation expense and non-cash extraordinary losses (in each case, to the extent included in determining net income).
Notwithstanding the foregoing, EBITDA for the Fiscal Quarters ended September 26, 2010, December 26, 2010, and March 27, 2011 shall be deemed to be $50,680,000, $77,700,000, and $65,460,000, respectively. 

Fixed Charge Coverage Ratio: the ratio, determined on a consolidated basis for Parent and Subsidiaries for the
most recent four Fiscal Quarters, of (a) EBITDA minus Capital Expenditures (except those financed with Borrowed Money other than Revolver Loans), to (b) Fixed Charges. 

Fixed Charges: the sum of interest expense (other than payment-in-kind), cash taxes paid, principal payments made
on Borrowed Money (other than (i) Revolver Loans and (ii) Purchase Money Debt incurred 90 days before or after the acquisition of the applicable fixed assets financed by such Purchase Money Debt), and Distributions made. Notwithstanding
the foregoing, Fixed Charges for the Fiscal Quarters ended September 26, 2010, December 26, 2010, and March 27, 2011 shall be deemed to be $12,550,000, $13,810,000, and $24,170,000, respectively. 

 Foreign Accounts (Other) Formula Amount: the lesser of (a) 25%
of the Value of Eligible Foreign Accounts (Other), and (b) $15,000,000. 
 LIBOR: for any Interest
Period with respect to a LIBOR Loan, the per annum rate of interest (rounded up, if necessary, to the nearest 1/32nd of 1%), determined by Agent at approximately 11:00 a.m. (London time) two Business Days prior to commencement of such Interest
Period, for a term comparable to such Interest Period, equal to (a) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source designated by Agent); or (b) if
BBA LIBOR is not available for any reason, the interest rate at which Dollar deposits in the approximate amount of the LIBOR Loan would be offered by Bank of America’s London branch to major banks in the London interbank Eurodollar market. If
the Board of Governors imposes a Reserve Percentage with respect to LIBOR deposits, then LIBOR shall be the foregoing rate, divided by 1 minus the Reserve Percentage. 

Unused Line Fee Percentage: a per annum percentage equal to (i) if the average monthly amount of outstanding
Revolver Loans and LC Obligations are greater than 50% of the Revolver Commitments, 0.375%, and (ii) if the average monthly amount of outstanding Revolver Loans and LC Obligations are less than or equal to 50%, 0.50%. 

(b)        The definition of “Amendment Number Three” set forth in
Section 1.1 of the Loan Agreement is hereby amended by replacing the reference to “May 11, 2011” with “May 12, 2011”, 

(c)        Clause (c) of the definition of “Eligible Account” set
forth in Section 1.1 of the Loan Agreement is deleted in its entirety and replaced with the following: 
 (c) when aggregated with other Accounts owing by the Account Debtor and its Affiliates, it exceeds 20% of the aggregate Eligible Accounts (or such higher percentage as Agent may establish for the Account
Debtor from time to time); 
 (d)        The definition of
“Dominion/Covenant Trigger Event” set forth in Section 1.1 of the Loan Agreement is hereby deleted in its entirety and replaced with the following: 

Dominion/Covenant Trigger Period: the period (i) commencing on the day that, as notified to Borrowers by
Agent, (a) an Event of Default occurs, (b) as determined by Agent pursuant to current information available to Agent from Agent’s systems or as provided by Borrowers (which information Agent has reviewed and approved), the sum of
Availability plus Qualified Cash is less than $60,000,000, or (c) as determined by Agent pursuant to current information available to Agent from Agent’s systems or as provided by Borrowers (which information Agent has reviewed and
approved), the aggregate outstanding Revolver Loans are in excess of $500,000 and Availability is less than $20,000,000, and (ii) continuing until the date on which, during the preceding 45 consecutive days (“Dominion/Covenant Test
Period”), as notified to Borrowers by Agent, (a) no Event of Default has 

 
existed during such Dominion/Covenant Test Period, (b) as determined by Agent pursuant to current information available to Agent from Agent’s systems or as provided by Borrowers (which
information Agent has reviewed and approved), the sum of Availability plus Qualified Cash is at least $60,000,000 at all times during such Dominion/Covenant Test Period, or (c) as determined by Agent pursuant to current information available to
Agent from Agent’s systems or as provided by Borrowers (which information Agent has reviewed and approved), the aggregate outstanding Revolver Loans are in excess of $500,000 and Availability is at least $20,000,000 at all times during such
Dominion/Covenant Test Period. 
 (e)        The definition of
“Permitted Asset Disposition” set forth in Section 1.1 of the Loan Agreement is hereby amended by (1) re-lettering clauses (i), (j) and (k) thereof to clauses (h), (i) and (j), respectively, and (2) replacing
the reference to “(k)” in the proviso thereof “(h)”. 

(f)        The definition of “Reporting Trigger Event” set forth in
Section 1.1 of the Loan Agreement is hereby deleted in its entirety. 

(g)        Section 1.1 of the Loan Agreement is hereby amended by
adding the following definitions in alphabetical order: 
 Monthly Reporting Period: the period, other
than when a Weekly Reporting Period exists, (i) commencing on the day that, as notified to Borrowers by Agent and as determined by Agent pursuant to current information available to Agent from Agent’s systems or as provided by Borrowers
(which information Agent has reviewed and approved), the sum of Availability plus Qualified Cash is less than $100,000,000, and (ii) continuing until the date on which, during the preceding 45 consecutive days (“Monthly Reporting Test
Period”), as notified to Borrowers by Agent and as determined by Agent pursuant to current information available to Agent from Agent’s systems or as provided by Borrowers (which information Agent has reviewed and approved), the sum of
Availability plus Qualified Cash is at least $100,000,000 at all times during such Monthly Reporting Test Period. 
 Weekly Reporting Period: the period (i) commencing on the day that, as notified to Borrowers by Agent, (a) an Event of Default occurs, (b) as determined by Agent pursuant to current
information available to Agent from Agent’s systems or as provided by Borrowers (which information Agent has reviewed and approved), the sum of Availability plus Qualified Cash is less than $80,000,000, or (c) as determined by Agent
pursuant to current information available to Agent from Agent’s systems or as provided by Borrowers (which information Agent has reviewed and approved), the aggregate outstanding Revolver Loans are in excess of $500,000 and Availability is less
than $20,000,000, and (ii) continuing until the date on which, during the preceding 45 consecutive days (“Weekly Reporting Test Period”), as notified to Borrowers by Agent, (a) no Event of Default has existed during such
Weekly Reporting Test Period and (b) (1) as determined by Agent pursuant to current information available to Agent from Agent’s systems or as provided by Borrowers (which information Agent has reviewed and approved),

 
the sum of Availability plus Qualified Cash is at least $80,000,000 at all times during such Weekly Reporting Test Period or (2) as determined by Agent pursuant to current information
available to Agent from Agent’s systems or as provided by Borrowers (which information Agent has reviewed and approved), the aggregate outstanding Revolver Loans are in excess of $500,000 and Availability is at least $20,000,000 at all times
during such Weekly Reporting Test Period. 

(h)        Section 2.2(a) is hereby deleted in its entirety and
replaced with the following: 
 (a)        Subject to the terms and
conditions hereof, at any time after the Closing Date and up to the Commitment Termination Date, provided that no Default or Event of Default has occurred and is continuing, the Borrowers may request that the Lenders increase the Revolver
Commitments by an aggregate of $60,000,000 (each such commitment increase, a “Revolver Commitment Increase”) by notifying Agent and each Lender. Notwithstanding anything in this Agreement, the Revolver Commitment Increase shall not require
the approval of any Lender other than any Lender (if any) providing all or part of the Revolver Commitment Increase. No Lender shall be required to provide all or part of any Revolver Commitment Increase unless it agrees to do so in its sole
discretion, each Revolver Commitment Increase shall be in an amount not less than $20,000,000 with minimum increments of $20,000,000 thereafter (in each case unless otherwise agreed by Agent in its discretion), and the aggregate amount of Revolver
Commitments after giving effect to the Revolver Commitment Increase shall not exceed $100,000,000. 

(i)        The last sentence of Section 2.2(c) is hereby deleted in
its entirety and replaced with the following: 
 Any New Lender shall be required to have a Revolver Commitment
of not less than $20,000,000 (unless otherwise agreed by Agent in its discretion). 

(j)        Effective May 10, 2011, Section 3.1.5 of the Loan
Agreement is deleted in its entirety and replaced with the following: 
 3.1.5 [Reserved] 

(k)        Section 5.7 of the Loan Agreement is hereby deleted in its
entirety and replaced with the following: 
 5.7        Application
of Payments.    The ledger balance in the main Dominion Account as of the end of a Business Day shall be applied to the Obligations at the beginning of the next Business Day during a Dominion/Covenant Trigger Period. If, as a
result of such application, a credit balance exists, the balance shall not accrue interest in favor of Borrowers and shall be made available to Borrowers as long as no Default or Event of Default exists. Each Borrower irrevocably waives the right to
direct the application of any payments or Collateral proceeds, and agrees that Agent shall have the continuing, exclusive right to apply and reapply same against the Obligations, in such manner as Agent deems advisable. 

(l)        Section 7.4.1 of the Loan Agreement is hereby deleted in
its entirety and replaced with the following: 
 7.4.1      Commercial Tort
Claims. Borrowers shall promptly notify Agent in writing if any Borrower has a Commercial Tort Claim (other than, as long as no Default or Event of Default exists, a Commercial Tort Claim for less than $10,000,000), shall promptly amend
Schedule 9.1.16 to include such claim, and shall take such actions, subject to the Intercreditor Agreement, as Agent deems appropriate to subject such claim to a duly perfected Lien in favor of Agent (for the benefit of Secured Parties).

 (m)      Section 8.1 of the Loan Agreement is hereby deleted in its
entirety and replaced with the following: 

8.1        Borrowing Base
Certificates.    By the 20th
day of each Fiscal Quarter and prepared as of the last day of the previous Fiscal Quarter, Spansion shall deliver to Agent (and Agent shall promptly deliver same to Lenders) a Borrowing Base Certificate (“Quarterly Certificate”),
and at such other times as Agent may request; provided, that (a) during a Monthly Reporting Period, such Borrowing Base Certificate shall be delivered by the 20th day of each month and prepared as of the close of business of the previous
month (“Monthly Certificate”) and no Quarterly Certificate shall be required and (b) during a Weekly Reporting Period such Borrowing Base Certificate shall be delivered weekly as of the 2nd Business Day of each week and prepared as of the close of business
of the previous week and no Quarterly Certificate or Monthly Certificate shall be required. All calculations of Availability in any Borrowing Base Certificate shall originally be made by Spansion and certified by a Senior Officer, treasurer or
controller of Spansion provided that Agent may from time to time review and adjust any such calculation (x) to reflect its reasonable estimate of declines in value of any Revolver Loan Priority Collateral, due to collections received in the
Dominion Account or otherwise; (y) to adjust the reserves provided for herein to reflect changes in dilution, quality, mix and other factors affecting Revolver Loan Priority Collateral; and (z) to the extent the calculation is not made in
accordance with this Agreement or does not accurately reflect the Availability Reserve. 

(n)      Section 8.2.1 of the Loan Agreement is hereby deleted in its entirety
and replaced with the following: 
 8.2.1      Records and Schedules of
Accounts. Each Borrower shall keep accurate and complete records of its Accounts, including all payments and collections thereon, and shall submit to Agent sales, collection, reconciliation and other reports in form satisfactory to Agent, on
such periodic basis as Agent may request. Each Borrower shall also provide to Agent, on or before the 20th day of each month, a detailed aged trial balance of all Accounts as of the end of the

 
preceding month and such other information as Agent may reasonably request. If Accounts in an aggregate face amount of $5,000,000 or more cease to be Eligible Accounts, Borrowers shall notify
Agent of such occurrence promptly (and in any event within three Business Days) after any Borrower has knowledge thereof; provided, that if during a Weekly Reporting Period any Account in the aggregate face amount of $2,500,000 or more ceases
to be an Eligible Account, Borrowers shall notify Agent of such occurrence promptly (and in any event within one Business Day) after any Borrower has knowledge thereof. 

(o)        Section 8.2.4 of the Loan Agreement is hereby deleted in
its entirety and replaced with the following: 
 8.2.4     Maintenance of Dominion
Account.    Borrowers shall maintain Dominion Accounts pursuant to lockbox or other arrangements acceptable to Agent. Borrowers shall obtain an agreement (in form and substance satisfactory to Agent) from each lockbox
servicer and Dominion Account bank, establishing Agent’s control over and Lien in the lockbox or Dominion Account, which may be exercised by Agent during a Dominion/Covenant Trigger Period, requiring immediate deposit of all remittances
received in the lockbox to a Dominion Account, and waiving offset rights of such servicer or bank, except for customary administrative charges. If a Dominion Account is not maintained with Bank of America, Agent may, at any time during a
Dominion/Covenant Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America. Agent and Lenders assume no responsibility to Borrowers for any lockbox arrangement or Dominion Account,
including any claim of accord and satisfaction or release with respect to any Payment Items accepted by any bank. 
 (p)        Section 10.1.2(c) of the Loan Agreement is hereby deleted in its entirety and replaced with the following: 

(c)        if at any time during any fiscal month, as notified to Borrowers by
Agent and as determined by Agent pursuant to current information available to Agent from Agent’s systems or as provided by Borrowers (which information Agent has reviewed and approved), the aggregate outstanding Revolver Loans are in excess of
$500,000 and Availability is less than 20% of the aggregate Revolver Commitments, then as soon as available, and in any event within 30 days after the end of such fiscal month, unaudited balance sheets as of the end of such fiscal month and the
related statements of income for such month and for the portion of the Fiscal Year then elapsed together with a reconciliation of the accounts receivables to the balance sheets, on a consolidated basis for Parent and Subsidiaries, setting forth in
comparative form corresponding figures for the preceding Fiscal Year and certified by the treasurer, controller, or chief financial officer of Parent; 
 (q)        Section 10.1.2(g) of the Loan Agreement is hereby deleted in its entirety and replaced with the following: 

(g)        by the 15th day of each month, a summary aging of each Borrower’s
trade payables by vendor and all other information regarding trade payables as reasonably requested by Agent, all in form satisfactory to Agent; 

 (r)        Sections
10.2.4(g) and (i) of the Loan Agreement are hereby deleted in their entirety and replaced with the following: 
 (g)        Distributions by Parent or Spansion consisting of the repurchase of Capital Stock (other than Disqualified Capital Stock) to the extent such repurchase
is deemed to occur upon a cashless exercise of stock options, restricted stock units or warrants, so long as no Event of Default shall exist or would result therefrom; and so long as no Dominion/Covenant Trigger Period exists or would result
therefrom; 
 (i)        Distributions by Parent with respect to the
repurchase or redemption, and Distributions by Spansion to Parent to permit Parent to repurchase or redeem, for nominal consideration, preferred stock purchase rights issued in connection with any shareholder rights plan of Parent, so long as no
Event of Default shall exist or would result therefrom; and so long as no Dominion/Covenant Trigger Period exists or would result therefrom; 
 (s)        Section 10.3 of the Loan Agreement is hereby deleted in its entirety and replaced with the following: 

10.3        Financial Covenants.    As long as
any Revolver Commitments or Obligations are outstanding, Parent shall, during a Dominion/Covenant Trigger Period: 
 10.3.1    Fixed Charge Coverage Ratio.    Maintain a Fixed Charge Coverage Ratio of at least 1.00 to 1.00 measured quarterly as of the last day of each
Fiscal Quarter commencing with the Fiscal Quarter or Fiscal Year, as applicable, most recently ended immediately prior to the commencement of and during a Dominion/Covenant Trigger Period and for which financial statements have been delivered to
Agent in compliance with Section 10.1.2. 

(t)        Section 11.1(h) of the Loan Agreement is hereby deleted in
its entirety and replaced with the following: 
 (h)        A loss,
theft, damage or destruction occurs with respect to any Collateral if the amount not covered by insurance (without taking into consideration any applicable deductible) exceeds $10,000,000; 

(u)        Section 14.1.1(e) of the Loan Agreement is hereby deleted
in its entirety and replaced with the following: 
 (e)        so long
as there are only two Lenders consisting of Bank of America and Wells Fargo Capital Finance, LLC, no modification shall be effective that would amend (i) the financial covenants in Section 10.3 or any of the definitions used in

 
such financial covenants if the amendment results in less restrictive financial covenants, (ii) the definitions of “Dominion/Covenant Trigger Period,” “Weekly Reporting
Period” or “Monthly Reporting Period,” in each case, without the prior written consent of all Lenders. 
 (v)        Schedule 1.1 of the Loan Agreement is deleted and replaced with the Schedule 1.1 attached hereto. 

2.        Conditions Precedent.    The satisfaction of each of the
following shall constitute conditions precedent to the effectiveness of this Amendment and each and every provision hereof, and this Amendment shall be effective as of the date upon which such conditions precedent shall be fully and completely
satisfied (such date is hereby referred to as “Amendment Number Four Effective Date”): 

(a)        Amendment. Agent shall have received, one or more counterparts
of this Amendment duly executed by Borrowers, Guarantors and Lenders. 

(b)        Fees. Agent (including its Affiliates) shall have received from
Borrowers payment in immediately available funds of all costs and expenses of Agent (including reasonable fees and out-of-pocket expenses of counsel for Agent) accrued and outstanding on the Amendment Number Four Effective Date, including in
connection with this Amendment, as required by the Loan Agreement. 

3.        Acknowledgment and Reaffirmation of Guaranty.    Each
Guarantor (i) consents to and approves the execution and delivery of this Amendment by the parties hereto, (ii) agrees that this Amendment does not and shall not limit or diminish in any manner the obligations of such Guarantor pursuant to
the guaranty agreement delivered in connection with the Loan Agreement (the “Guaranty”) by such Guarantor and that such obligations would not be limited or diminished in any manner even if such Guarantor had not reaffirmed this
Amendment, (iii) agrees that this Amendment shall not be construed as requiring the consent of such Guarantor in any other circumstance, (iv) reaffirms each of its obligations under the Guaranty, and (v) agrees that the Guaranty
remains in full force and effect and is hereby ratified and confirmed. 

4.        Miscellaneous. 

(a)        Survival of Representations and Warranties.    All
representations and warranties made in the Loan Agreement or any other document or documents relating thereto, including, without limitation, any Loan Document furnished in connection with this Amendment, shall survive the execution and delivery of
this Amendment and the other Loan Documents, and no investigation by Agent or the Lenders or any closing shall affect the representations and warranties or the right of Agent or the Lenders to rely thereon. 

(b)        Reference to Loan Agreement.    The Loan Agreement and each
of the other Loan Documents, and any and all other agreements, documents or instruments now or hereafter executed and delivered pursuant to the terms hereof, or pursuant to the terms of the Loan Agreement, as amended hereby, are hereby amended so
that any reference therein to the Loan Agreement shall mean a reference to the Loan Agreement, as amended hereby. 

 (c)        Loan Agreement
Remains in Effect.    The Loan Agreement and the other Loan Documents, as amended hereby, remain in full force and effect and each Borrower ratifies and confirms its agreements and covenants contained therein. Each Borrower
hereby confirms that, after giving effect to this Amendment, no Event of Default or Default exists as of the effective date of this Amendment. 
 (d)        Severability.    Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable
shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable. 

(e)        APPLICABLE LAW.    THIS AMENDMENT SHALL BE
GOVERNED BY THE LAWS OF THE STATE OF CALIFORNIA, WITHOUT GIVING EFFECT TO ANY CONFLICT OF LAW PRINCIPLES (BUT GIVING EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS). 

(f)        Successors and Assigns.    This Amendment
is binding upon and shall inure to the benefit of Agent, the Lenders, and Borrowers and their respective successors and assigns; provided, however, that no Borrower may assign or transfer any of its rights or obligations hereunder
without the prior written consent of the Lenders. 

(g)        Counterparts.    This Amendment may be
executed in one or more counterparts, each of which when so executed shall be deemed to be an original, but all of which when taken together shall constitute one and the same instrument. 

(h)        Headings.    The headings, captions and
arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment. 
 (i)        NO ORAL AGREEMENTS.    THIS AMENDMENT, TOGETHER WITH THE OTHER LOAN DOCUMENTS AS WRITTEN, REPRESENTS THE FINAL AGREEMENT AMONG
AGENT, THE LENDERS, AND BORROWERS AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG AGENT, THE LENDERS, AND BORROWERS. 

***** 

 IN WITNESS WHEREOF, the parties have executed this Amendment on the date
first above written. 
  

			
	“BORROWER”
	
	 SPANSION LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Randy W. Furr

 
			
	Name:	 	 Randy W. Furr

 
			
	Title:	 	 Executive Vice President & CFO

  

			
	“PARENT” AND “GUARANTOR”
	
	 SPANSION INC.,
 a Delaware corporation

		
	By:	 	 /s/ Randy W. Furr

 
			
	Name:	 	 Randy W. Furr

 
			
	Title:	 	 Executive Vice President & CFO

 Amendment Number Four to Loan and Security Agreement 

 
			
	“GUARANTORS”
	
	 SPANSION TECHNOLOGY LLC,
 a Delaware corporation

		
	By:	 	 /s/ Randy W. Furr

 
			
	Name:	 	 Randy W.
Furr

 
			
	Title:	 	 Chief Financial Officer

  

			
	 SPANSION INTERNATIONAL, INC.,

a Delaware corporation

		
	By:	 	 /s/ Randy W.
Furr

 
			
	Name:	 	 Randy W.
Furr

 
			
	Title:	 	 Chief Financial Officer & Treasurer

  

			
	 CERIUM LABORATORIES LLC,

a Delaware limited liability company

		
	By:	 	 /s/ Randy W.
Furr

 
			
	Name:	 	 Randy W.
Furr

 
			
	Title:	 	 Chief Financial Officer

  

			
	SPANSION INTERNATIONAL TRADING, INC., a Delaware corporation
		
	By:	 	 /s/ Nate
Sarkisian

 
			
	Name:	 	 Nate
Sarkisian

 
			
	Title:	 	 Vice President

 Amendment Number Four to Loan and Security Agreement 

			
	 AGENT AND LENDERS:

	
	 BANK OF AMERICA, N.A.,

as Agent and a Lender

		
	By:	 	 /s/ Steven W.
Sharp

			
	Name:	 	Steven W. Sharp
	Title:	 	Vice President

 Amendment Number Four to Loan and Security Agreement 

			
	 WELLS FARGO CAPITAL FINANCE, LLC,

as a Lender

		
	By:	 	 /s/ Krista Wade

			
	Name:	 	Krista Wade
	Title:	 	Vice President

 Amendment Number Four to Loan and Security Agreement 

 SCHEDULE 1.1 
 to 
 Loan and Security Agreement 

REVOLVER COMMITMENTS OF LENDERS 
  

					
	Lender	  	Revolver Commitment	 
	 Bank of America, N.A.
	  	$	25,000,000	  
	 Wells Fargo Capital Finance,
LLC
	  	$	15,000,000	  
	 TOTAL:
	  	$	40,000,000Separation Agreement and Release

 Exhibit 10.29 
  

			
	

	 	

  

 SEPARATION AGREEMENT AND RELEASE 

This Separation Agreement and Release (“Agreement”) is made by and between Ahmed Nawaz (“Executive”) and Spansion
Inc. (the “Company”) (collectively referred to as the “Parties” or individually referred to as a “Party”). 
 RECITALS 
 WHEREAS, Executive is employed by the Company as its Executive
Vice President, Wireless Solutions Group. 
 WHEREAS, on November 11, 2011, Executive’s employment with the Company
will be terminated (the “Termination Date”); 
 WHEREAS, the Parties wish to resolve any and all disputes, claims,
complaints, grievances, charges, actions, petitions, and demands that the Executive may have against the Company and any of the Releasees as defined below, including, but not limited to, any and all claims arising out of or in any way related to
Executive’s employment with the Company, the transitional employment, or the resignations provided for herein. 
 NOW,
THEREFORE, in consideration of the mutual promises made herein, the Company and Executive hereby agree as follows: 

COVENANTS 

1.        Termination of Employment.  Executive acknowledges that he will cease
his employment with the Company effective on the Termination Date. 

a.        Salary:  The Company agrees to pay Executive his accrued and unpaid
base salary and Paid Time Off (PTO), less applicable withholding, through the Termination Date and his base salary, less applicable withholding, as in effect on the Termination Date for a period of seven (7) months following the Termination
Date, in accordance with the Company’s regular payroll practices. 

b.        Stock Options:  The Company will accelerate the vesting of sixty-one
thousand eight hundred and seventy-six (61,876) stock options, and fifteen thousand six hundred and forty-three (15,643) restricted stock units (RSUs) as of Termination Date. 

c.        Health Coverage.  As provided by the Consolidated Budget
Reconciliation Act of 1985, as amended (“COBRA”), and by the Company’s current group health plan, Executive will be eligible to continue Executive’s health benefits following the Termination Date. The Company’s COBRA
administrator will mail a COBRA enrollment packet to Executive’s home within 30 days of his last day of employment. Executive will have 60 days from the date of notification to elect COBRA coverage. Should Executive timely elect COBRA,
Executive’s COBRA coverage will take effect retroactive to the date his current coverage as an active employee ceased. Executive must send in his enrollment forms to the Company’s COBRA administrator to activate coverage. Executive is
entitled to COBRA coverage whether or not Executive signs this Agreement. If Executive elects continued coverage under COBRA, the Company will pay his COBRA premiums for seven (7) calendar months after the Termination Date as part of this
Agreement. The Company’s obligation to make these payments will cease immediately if Executive becomes eligible for other health benefits at the expense of another employer. Executive agrees to immediately provide the Company written notice of
the availability of health coverage within that time period. Although Executive is entitled to COBRA coverage whether or not Executive signs this Agreement, if Executive wants the Company to pay his COBRA premium(s) for the above-referenced time
period, Executive must sign this Agreement and timely elect COBRA. 

  

							
	Spansion Inc.	    	 915 DeGuigne Drive, P.O. Box 3453
 Sunnyvale, CA
94088-3453 USA
	 	 	www.spansion.com	  

 

 
  

 2.        Indemnity.  Nothing
in this agreement is intended to modify or terminate the Executive’s Indemnity Agreement with the Company. 

3.        Release of Claims.  Executive agrees that terms provided for under
this Agreement represent settlement in full of any and all outstanding obligations owed to Executive by the Company and its current and former officers, directors, Executives, agents, investors, attorneys, shareholders, administrators, affiliates,
benefit plans, plan administrators, insurers, divisions, and subsidiaries, and predecessor and successor corporations and assigns (collectively, the “Releasees”). Executive, on his own behalf and on behalf of his respective heirs, family
members, executors, agents, and assigns, hereby and forever releases the Releasees from, and agrees not to sue concerning, or in any manner to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, or cause of action
relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Executive may possess against any of the Releasees arising from any omissions, acts, facts, or damages that have occurred up until and including
the Effective Date of this Agreement, including, without limitation: 
 a.        any
and all claims relating to or arising from Executive’s employment relationship with the Company, termination thereof, and changes to that relationship reflected herein; 
 b.        any and all claims relating to, or arising from, Executive’s right to purchase, or actual purchase of shares of stock of the Company, including,
without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law; 

c.        any and all claims for wrongful discharge of employment; termination in violation of
public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; any obligations under his employment offer with the Company or any change of control arrangement; breach of covenant of good faith and fair
dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic
advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; conversion; and disability benefits; 

d.        any and all claims for violation of any federal, state, or municipal statute,
including, but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay Act; the Fair Labor Standards Act; the Fair Credit
Reporting Act; the Age Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act;
the Sarbanes-Oxley Act of 2002; the Uniformed Services Employment and Reemployment Rights Act; the California Family Rights Act; the California Labor Code; the California Workers’ Compensation Act; and the California Fair Employment and Housing
Act; 
 e.        any and all claims for violation of the federal or any state
constitution; 
 f.        any and all claims arising out of any other laws and
regulations relating to employment or employment discrimination; 
 g.        any claim
for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other tax treatment of any of the proceeds received by Executive as a result of this Agreement; and 

h.        any and all claims for attorneys’ fees and costs. 

  
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 Executive agrees that the release set forth in this section shall be and remain in effect in all
respects as a complete general release as to the matters released. This release does not extend to any obligations incurred under this Agreement. This release does not release claims that cannot be released as a matter of law, including, but not
limited to, Executive’s right to file a charge with or participate in a charge by the Equal Employment Opportunity Commission, or any other local, state, or federal administrative body or government agency that is authorized to enforce or
administer laws related to employment, against the Company (with the understanding that any such filing or participation does not give Executive the right to recover any monetary damages against the Company; Executive’s release of claims herein
bars Executive from recovering such monetary relief from the Company). Executive represents that he has made no assignment or transfer of any right, claim, complaint, charge, duty, obligation, demand, cause of action, or other matter waived or
released by this Section. Neither Executive nor the Company intends to release claims that neither may release as a matter of law, including but not limited to claims for indemnity under California Labor Code Section 2802. 

4.        Acknowledgment of Waiver of Claims under ADEA.  Executive understands
and acknowledges that he is waiving and releasing any rights he may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary. Executive understands and agrees that this
waiver and release does not apply to any rights or claims that may arise under the ADEA after the Effective Date of this Agreement. Executive understands and acknowledges that the consideration given for this waiver and release is in addition to
anything of value to which Executive was already entitled. Executive further understands and acknowledges that he has been advised by this writing that: (a) he should consult with an attorney prior to executing this Agreement;
(b) he has twenty-one (21) days within which to consider this Agreement; (c) he has seven (7) days following his execution of this Agreement to revoke this Agreement; (d) this Agreement shall not be effective until after the
revocation period has expired; and (e) nothing in this Agreement prevents or precludes Executive from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition
precedent, penalties, or costs for doing so, unless specifically authorized by federal law. In the event Executive signs this Agreement and returns it to the Company in less than the 21-day period identified above, Executive hereby acknowledges that
he has freely and voluntarily chosen to waive the time period allotted for considering this Agreement. 

5.        California Civil Code Section 1542.  Executive acknowledges that
he has been advised to consult with legal counsel and is familiar with the provisions of California Civil Code Section 1542, a statute that otherwise prohibits the release of unknown claims, which provides as follows: 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS
OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 Executive, being aware of said code section, agrees to expressly waive any rights he may have there under, as well as under any other statute or common law principles of similar effect. 

6.        No Pending or Future Lawsuits.  Executive represents that he has no
lawsuits, claims, or actions pending in his name, or on behalf of any other person or entity, against the Company or any of the other Releasees. Executive also represents that he does not intend to bring any claims on his own behalf or on behalf of
any other person or entity against the Company or any of the other Releasees. 

7.        Trade Secrets and Confidential Information/Company
Property.  Executive reaffirms and agrees to observe and abide by the terms of the Confidentiality Agreement dated November 20, 2006, attached as Exhibit A, specifically including the provisions therein regarding nondisclosure of
the Company’s trade secrets and confidential and proprietary information, and non-solicitation of Company employees. 

  
 Page 3 of 6

 

 
  

 8.        No
Cooperation.  Executive further agrees that he will not knowingly encourage, counsel, or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints
by any third party against any of the Releasees, unless under a subpoena or other court order to do so or as related directly to the ADEA waiver in this Agreement. Executive agrees both to immediately notify the Company upon receipt of any such
subpoena or court order, and to furnish, within three (3) business days of its receipt, a copy of such subpoena or other court order. If approached by anyone for counsel or assistance in the presentation or prosecution of any disputes,
differences, grievances, claims, charges, or complaints against any of the Releasees, Executive shall state no more than that he cannot provide counsel or assistance. 
 9.        Mutual Non-Disparagement and Communications with Company Employees, Customers and Business Partners.  Both parties agree not to disparage
each other. Executive agrees to refrain from any disparagement, defamation, libel, or slander of any of the Releasees, and agrees to refrain from any tortious interference with the contracts and relationships of any of the Releasees. Executive
further agrees that he will refrain from discussing Company confidential business or financial information with third parties, including the Company’s actual and potential customers or business partners. Executive further agrees that he will
not discuss the Company’s business with Company employees, customers, or business partners except as requested by the Company’s Chief Executive Officer or his designee. 

10.      Breach.  In addition to the rights provided in the “Attorneys’
Fees” section below, Executive acknowledges and agrees that any material breach of this Agreement, unless such breach constitutes a legal action by Executive challenging or seeking a determination in good faith of the validity of the waiver
herein under the ADEA, or of any provision of the Confidentiality Agreement shall entitle the Company immediately to recover and/or cease providing the salary provided by this agreement, except to the extent required by law, and to obtain damages,
except as provided by law. Except as provided by law, Executive shall also be responsible to the Company for all costs, attorneys’ fees, and any and all damages incurred by the Company in (a) enforcing Executive’s obligations under
this Agreement or the Confidentiality Agreement, including the bringing of any action to recover payments in the event of a breach, and (b) defending against a claim or suit brought or pursued by Executive in violation of the terms of this
Agreement. 
 11.      No Admission of Liability.  Executive understands and
acknowledges that this Agreement constitutes a compromise and settlement of any and all actual or potential disputed claims by Executive. No action taken by the Company hereto, either previously or in connection with this Agreement, shall be deemed
or construed to be (a) an admission of the truth or falsity of any actual or potential claims or (b) an acknowledgment or admission by the Company of any fault or liability whatsoever to Executive or to any third party. 

12.      Non-Solicitation.  Executive agrees that for a period of twelve (12) months
immediately following the End Date of this Agreement, Executive shall not directly or indirectly solicit any of the Company’s employees to leave their employment at the Company. 

13.      Costs.  The Parties shall each bear their own costs, attorneys’ fees, and
other fees incurred in connection with the preparation of this Agreement. 
 14.      Tax
Consequences.  The Company makes no representations or warranties with respect to the tax consequences of the payments or other consideration provided to Executive or made on his behalf under the terms of this Agreement. Executive
agrees and understands that he is responsible for payment, if any, of local, state, and/or federal taxes on the payments and any other consideration provided hereunder by the Company and any penalties or assessments thereon. Executive further agrees
to indemnify and hold the Company harmless from any claims, demands, deficiencies, penalties, interest, assessments, executions, judgments, or recoveries by any government agency against the Company for any amounts claimed due on account of
(a) Executive’s failure to pay or the Company’s failure to withhold, or Executive’s delayed payment of, federal or state taxes, or (b) damages sustained by the Company by reason of any such claims, including attorneys’
fees and costs. 

  
 Page 4 of 6

 

 
  

 15.      Section 409A.  The
foregoing provisions are intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the final Treasury Regulations and any guidance promulgated there under (“Section
409A”) so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. Executive and the Company
agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment
to Executive under Section 409A. 
 16.      Authority.  The Company
represents and warrants that the undersigned has the authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Agreement. Executive represents and warrants that he has the
capacity to act on his own behalf and on behalf of all who might claim through him to bind them to the terms and conditions of this Agreement. Each Party warrants and represents that there are no liens or claims of lien or assignments in law or
equity or otherwise of or against any of the claims or causes of action released herein. 

17.      No Representations.  Executive represents that he has had an opportunity to
consult with an attorney, and has carefully read and understands the scope and effect of the provisions of this Agreement. Executive has not relied upon any representations or statements made by the Company that are not specifically set forth in
this Agreement. 
 18.      Severability.  In the event that any provision or any
portion of any provision hereof or any surviving agreement made a part hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable, or void, this Agreement shall continue in full force and effect
without said provision or portion of provision. Notwithstanding, to the extent the Company’s obligation to pay the Consideration provided for under Section 1 (Consideration) of this Agreement is deemed illegal, unenforceable, or void, and
the Company fails to otherwise provide for the Consideration as provided, the Parties shall not remain bound by the terms of this Agreement, and it shall become null and void. 
 19.      Attorneys’ Fees.  Except with regard to a legal action challenging or seeking a determination in good faith of the validity of the waiver
herein under the ADEA, in the event that either Party brings an action to enforce or effect its rights under this Agreement, the prevailing Party shall be entitled to recover its costs and expenses, including the costs of mediation, arbitration,
litigation, court fees, and reasonable attorneys’ fees incurred in connection with such an action. 

20.      Entire Agreement.  This Agreement represents the entire agreement and
understanding between the Company and Executive concerning the subject matter of this Agreement and Executive’s employment with the Company and the changes to that employment relationship provided for herein, and the events leading thereto and
associated therewith, and supersedes and replaces any and all prior agreements and understandings concerning the subject matter of this Agreement and Executive’s relationship with the Company, including but not limited to any change of control
arrangement, with the exception of the Confidentiality Agreement and the Insider Trading Policy Acknowledgement. 

21.      No Oral Modification.  This Agreement may only be amended in a writing signed by
Executive and the Company’s Senior Vice President of Human Resources. 

22.      Governing Law.  This Agreement shall be governed by the laws of the State of
California, without regard for choice-of-law provisions. Executive consents to personal and exclusive jurisdiction and venue in the State of California. 
 23.      Counterparts.  This Agreement may be executed in counterparts and by facsimile, and each counterpart and facsimile shall have the same force and
effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. 

  
 Page 5 of 6

 

 
  

 24.      Voluntary Execution of
Agreement.  Executive understands and agrees that he executed this Agreement voluntarily, without any duress or undue influence on the part or behalf of the Company or any third party, with the full intent of releasing all of his
claims against the Company and any of the other Releasees. Executive acknowledges that: 
  

	 	(a)	He has read this Agreement; 

  

	 	(b)	He has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of his own choice or has elected not to retain legal counsel;

  

	 	(c)	He understands the terms and consequences of this Agreement and of the releases it contains; and 

 

	 	(d)	He is fully aware of the legal and binding effect of this Agreement. 

IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below. 

 

							
		 		 	AHMED NAWAZ, an individual
				
	 Dated: 10/24/11
	 		 	 By
	 	/S/    AHMED
NAWAZ        
		 		 		 	Ahmed Nawaz

  

							
		 		 	 SPANSION INC.

				
	 Dated: 10/24/11
	 		 	 By
	 	/S/    CARMINE
RENZULLI        
		 		 		 	 Carmine Renzulli
 Senior
Vice President, Worldwide Human Resources

  
 Page 6 of 6

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