Document:

WAIVER
AND CONSENT AGREEMENT

 

THIS
WAIVER AND CONSENT AGREEMENT (the “Agreement”), is dated as of May 19, 2017 (the “Effective Date”),
by and between QUANTUM MATERIALS, INC., a Nevada corporation (the “Company”), and LINCOLN PARK CAPITAL
FUND, LLC, an Illinois limited liability company (the “Investor”).

 

WHEREAS,
the Investor and Company entered into a Securities Purchase Agreement, dated as of November 7, 2016 (the “LPC Securities
Purchase Agreement”) and, pursuant thereto, the Company issued and sold to the Investor a Non-Negotiable Unsecured Convertible
Promissory Note (the “LPC Note”) (Capitalized terms used herein and not otherwise defined herein shall have the meanings
ascribed to them in the LPC Securities Purchase Agreement or the LPC Note, as applicable); and

 

WHEREAS,
the Company subsequently entered into certain transactions referred to herein as the “Subject Transaction:” (i)
an Equity Purchase Agreement, dated as of March 29, 2017 (the “Equity Purchase Agreement”), by and between the Company
and L2 Capital, LLC, a Kansas limited liability company (“L2”), and SBI Investments LLC, 2014-1, a statutory series
of Delaware limited liability company (“SBI”), (ii) promissory notes dated March 29, 2017 issued to L2 and SBI in
connection with the transactions contemplated by the Equity Purchase Agreement (collectively, the “EPA Notes”), (iii)
each of those certain Securities Purchase Agreements, dated as of March 29, 2017 (collectively, the “Securities Purchase
Agreements”), by and between the Company and each of L2 and SBI, and (iv) each of the promissory notes dated March 29, 2017
issued to L2 and SBI in connection with the transactions contemplated by the Securities Purchase Agreements (collectively, the
“SPA Notes”); and

 

WHEREAS,
the Company desires to obtain the Investor’s waiver and consent with respect to the Subject Transaction and the Investor
desires to grant such waiver and consent.

 

NOW
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Company and the Investor agree as follows:

 

1.
CONSENT TO EQUITY PURCHASE AGREEMENT 

 

(a)
The Investor agrees to waive the application of Section 17 of the LPC Securities Purchase Agreement solely with respect to the
Subject Transaction and hereby consents to the consummation of the Subject Transaction by the Company as dieclosed in the SEC
filing of April 4, 2017 on form 8-k; provided, however, that such waiver and consent shall apply only to the Subject
Transaction, and the Company and LPC hereby acknowledge and agree that such waiver and consent shall not be deemed to waive the
application of Section 17 of the LPC Securities Purchase Agreement or to consent to any other issuance of Common Stock or Common
Stock Equivalents or any other securities by the Company to the investors of the Subject Transaction or to any other Person in
any other transaction or series of transactions.

 

(b)
Except as otherwise expressly provided herein with respect to the Subject Transaction only, the LPC Securities Purchase Agreement
and the LPC Note each shall continue to be in full force and effect and each is hereby ratified and confirmed in all respects,
including, without limitation Section 17 of the LPC Securities Purchase Agreement.

 

    	 	 	 

     

    

 

(c)
In consideration for this waiver and consent, the Company shall issue to the Investor 1,000,000 shares of Common Stock on the
date hereof (“Consent Shares”).

 

	 	●	Legends.
    The Consent Shares may only be disposed of in compliance with state and federal securities laws. In connection with any transfer
    of Consent Shares other than pursuant to an effective registration statement or Rule 144 (as defined below), to the Company
    or to an affiliate of the Investor, the Company may require the transferor thereof to provide to the Company an opinion of
    counsel selected by the transferor and reasonably acceptable to the Company, the form and substance of which opinion shall
    be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such transferred
    securities under the 1933 Act. The Investor understands that the Consent Shares, except as set forth below, shall bear any
    legends as required by applicable state securities or “Blue Sky” laws in addition to a restrictive legend in substantially
    the following form (and a stop-transfer order may be placed against transfer of such stock certificates): 
	 	 	 
	 	 	THE
    ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
    AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED
    (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
    OR (B) AN OPINION OF COUNSEL TO THE HOLDER (IF REQUESTED BY THE COMPANY), IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY,
    THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR RULE 144A
    UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
    OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

    	 	 	 

     

    

 

	 	 	The
    Company shall use its reasonable best efforts to cause its transfer agent to remove the legend set forth above and to issue
    a certificate without such legend to the holder of the Consent Shares upon which it is stamped, or to issue to such holder
    by electronic delivery at the applicable balance account at the Depository Trust Company (“DTC”), unless otherwise
    required by state securities or “blue sky” laws, at such time as (i) such Consent Shares are registered for resale
    under the 1933 Act, (ii) in connection with a sale, assignment or other transfer, such holder provides the Company with an
    opinion of counsel, in a form generally acceptable to the Company’s legal counsel, to the effect that such sale, assignment
    or transfer of the securities may be made without registration under the 1933 Act, or (iii) such holder provides the Company
    and its legal counsel with reasonable assurance in writing that the Consent Shares can be sold, assigned or transferred pursuant
    to Rule 144 or Rule 144A. In furtherance of the foregoing, the Company agrees that, following the effective date of a registration
    statement covering the resale of such Consent Shares or at such time as such legend is not required pursuant to this Section,
    the Company shall, no later than three Trading Days following the delivery by the Investor to the Company or the Company’s
    transfer agent of a certificate representing the Consent Shares issued with a restrictive legend (such third Trading Day,
    the “Legend Removal Date”), either: (A) issue and deliver (or cause to be issued and delivered) to the Investor
    a certificate representing such Consent Shares that is free from all restrictive and other legends or (B) cause the Company’s
    transfer agent to credit the Investor’s or its designee’s account at DTC through its Deposit/Withdrawal at Custodian
    (DWAC) system with a number of Common Shares equal to the number of Consent Shares represented by the certificate so delivered
    by the Investor. If the Company fails on or prior to the Legend Removal Date to either (i) issue and deliver (or cause to
    be issued and delivered) to the Investor a certificate representing the Consent Shares that is free from all restrictive and
    other legends or (ii) cause the Company’s transfer agent to credit the balance account of the Investor or its designee
    at DTC through its Deposit/Withdrawal at Custodian (DWAC) system with a number of Common Shares equal to the number of Consent
    Shares, represented by the certificate delivered by the Investor pursuant hereto, then, in addition to all other remedies
    available to the Investor, the Company shall pay in cash to the Investor on each day after the Legend Removal Date that the
    issuance or credit of such shares is not timely effected an amount equal to 1.0% of the product of (A) the sum of the number
    of Consent Shares not issued to the Investor on a timely basis and to which the Investor is entitled and (B) the VWAP for
    the five Trading Day period immediately preceding the Legend Removal Date. In addition to the foregoing, if the Company fails
    to so properly deliver such unlegended certificates or so properly credit the account of the Investor or its designee at DTC
    by the Legend Removal Date, and if on or after the Legend Removal Date the Investor purchases (in an open market transaction
    or otherwise) Common Stock to deliver in satisfaction of a sale by the Investor of Consent Shares that the Investor anticipated
    receiving from the Company without any restrictive legend, then the Company shall, within three Trading Days after the Investor’s
    request, pay cash to the Investor in an amount equal to the Investor’s total purchase price (including brokerage commissions,
    if any) for the Common Stock so purchased, at which point the Company’s obligation to deliver a certificate or credit
    the Investor’s or its designee’s account at DTC for such Consent Shares shall terminate and such shares shall
    be cancelled.

 

    	 	 	 

     

    

 

 

	 	●	Rule
    144 Availability; Public Information. Commencing May 31, 2017, at all times during the period commencing on the Effective
    Date and ending at such time that all of the Consent Shares can be sold without the requirement to be in compliance with Rule
    144(c)(1) under the 1933 Act and otherwise without restriction or limitation pursuant to Rule 144 under the 1933 Act, the
    Company shall use its reasonable best efforts to ensure the availability of Rule 144 under the 1933 Act to the Investor with
    regard to the Consent Shares including compliance with Rule 144(c)(1) under the 1933 Act. If, (i) at any time the Investor
    owns any Consent Shares, the Company shall fail for any reason to satisfy the current public information requirement under
    Rule 144(c) under the 1933 Act (a “Public Information Failure”), or (ii) the Company shall fail to take such action
    as is reasonably requested by the Investor to enable the Investor to sell the Consent Shares pursuant to Rule 144 under the
    1933 Act (including, without limitation, delivering all such legal opinions, consents, certificates, resolutions and instructions
    to the Company’s transfer agent as may be reasonably requested from time to time by the Investor and otherwise fully
    cooperate with Investor and Investor’s broker to effect such sale of securities pursuant to Rule 144 under the 1933
    Act), then, in either case, in addition to the Investor’s other available remedies, the Company shall pay to a Investor,
    in cash, as liquidated damages and not as a penalty, by reason of any such delay in or reduction of its ability to sell the
    Consent Shares, an amount in cash equal to one percent (1.0%) of the aggregate value of the Investor’s Consent Shares
    on the day of a Public Information Failure and on every thirtieth (30th) day (prorated for periods totaling less than thirty
    days) thereafter until the earlier of (a) the date such Public Information Failure is cured and (b) such time that such public
    information is no longer required for the Investor to transfer the Consent Shares pursuant to Rule 144 under the 1933 Act.
    The payments to which the Investor shall be entitled pursuant to this Section are referred to herein as “Rule 144 Failure
    Payments.” Rule 144 Failure Payments shall be paid on the earlier of (i) the last day of the calendar month during which
    such Rule 144 Failure Payments are incurred and (ii) the third (3rd) Trading Day after the event or failure giving rise to
    the Rule 144 Failure Payments is cured.
	 	 	 
	 	●	Valid
    Issuance of the Consent Shares; The Consent Shares are duly authorized and, when issued in accordance with this Agreement,
    will be validly issued, fully-paid and non-assessable, and free and clear of all Liens imposed by the Company other than restrictions
    on transfer under this Agreement and under applicable state and federal securities laws. The issuance of the Consent Shares
    to the Investor pursuant to this Agreement is exempt from registration under the 1933 Act.

 

2.
MISCELLANEOUS.

 

(a)
Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by the internal laws of the State of Illinois, without giving effect to any choice of law
or conflict of law provision or rule (whether of the State of Illinois or any other jurisdictions) that would cause the application
of the laws of any jurisdictions other than the State of Illinois. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the State of Illinois, County of Cook, for the adjudication of any dispute hereunder
or in connection herewith, or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and
agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any
such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or
proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY
WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    	 	 	 

     

    

 

(b)
Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered one
and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party; provided that a facsimile signature or signature delivered by e-mail in a “.pdf” format data file shall be
considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were
an original signature.

 

(c)
Headings. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation
of, this Agreement.

 

(d)
Severability. If any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity
or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or
the validity or enforceability of any provision of this Agreement in any other jurisdiction.

 

(e)
Notices. Any notices, consents or other communications required or permitted to be given under the terms of this Agreement
must be in writing and will be deemed to have been delivered: (i) upon receipt when delivered personally; (ii) upon receipt when
sent by facsimile or email (provided confirmation of transmission is mechanically or electronically generated and kept on file
by the sending party); or (iii) one (1) Business Day after deposit with a nationally recognized overnight delivery service, in
each case properly addressed to the party to receive the same. The addresses for such communications shall be:

 

If
to the Company:

 

Telephone:

Facsimile:

E-mail:

Attention:

 

With
a copy to:

 

Telephone:

Facsimile:

E-mail:

Attention:

 

If
to the Investor:

 

Lincoln
Park Capital Fund, LLC

440
North Wells, Suite 410

Chicago,
IL 60654

Telephone:
312-822-9300

Facsimile:
312-822-9301

E-mail:
jscheinfeld@lpcfunds.com/jcope@lpcfunds.com

Attention:
Josh Scheinfeld/Jonathan Cope

 

With
a copy to (that shall not constitute notice):

 

Telephone:

Facsimile:

E-mail:

Attention:

 

    	 	 	 

     

    

 

or
at such other address and/or facsimile number and/or to the attention of such other Person as the recipient party has specified
by written notice given to each other party three (3) Business Days prior to the effectiveness of such change. Written confirmation
of receipt (A) given by the recipient of such notice, consent or other communication, (B) mechanically or electronically generated
by the sender’s facsimile machine or email account containing the time, date, and recipient facsimile number or email address,
as applicable, and an image of the first page of such transmission or (C) provided by a nationally recognized overnight delivery
service, shall be rebuttable evidence of personal service, receipt by facsimile or receipt from a nationally recognized overnight
delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

 

(f)
Disclosure; SEC Filings. The Company confirms that neither it nor any other Person acting on its behalf has provided the
Investor or its agents or counsel with any information that it believes constitutes or might constitute material, non-public information
which is not otherwise publicly disclosed in a report or statement filed with the SEC prior to the date hereof. The Company understands
and confirms that the Investor will rely on the foregoing representation and confirmation. The Company represents and confirms
that neither it nor any other Person acting on its behalf will provide the Investor with any material, non-public information
regarding the Company or any of its Subsidiaries from and after the date hereof without the express prior written consent of the
Investor (which may be granted or withheld in the Investor’s sole discretion). To the extent that the Company or any Person
acting on its behalf delivers any material, non-public information to the Investor (as determined in the reasonable good faith
judgment of the Investor) without the Investor’s consent, (i) the Company hereby covenants and agrees that the Investor
shall not have any duty of confidentiality with respect to, or a duty not to trade on the basis of, such material, non-public
information, and (ii) in addition to any other remedy provided herein, the Investor shall have the right to make a public disclosure,
in the form of a press release, public advertisement or otherwise, of such material, non-public information without the prior
approval by the Company; provided the Investor shall have first provided notice to the Company that it believes it has received
information that constitutes material, non-public information, the Company shall have at least 24 hours to publicly disclose such
material, non-public information prior to any such disclosure by the Investor, and the Company shall have failed to publicly disclose
such material, non-public information within such time period.

 

(g)
Indemnification. In consideration of the Investor’s execution and delivery of this Agreement and in addition to all
of the Company’s other obligations under this Agreement, the LPC Securities Purchase Agreement and the LPC Note, the Company
shall defend, protect, indemnify and hold harmless the Investor and each holder of any Consent Shares, and all of their respective
stockholders, partners, members, officers, directors, employees and direct or indirect investors and any of the foregoing Persons’
agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated
by this Agreement) (collectively, the “Indemnitees”) from and against any and all actions, causes of action, suits,
claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether
any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys’
fees and disbursements (the “Indemnified Liabilities”), incurred by any Indemnitee as a result of, or arising out
of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in this Agreement,
(b) any breach of any covenant, agreement or obligation of the Company contained in any of this Agreement, or (c) any cause of
action, suit, proceeding or claim brought or made against such Indemnitee by a third party (including for these purposes a derivative
action brought on behalf of the Company or any Subsidiary) or which otherwise involves such Indemnitee that arises out of or results
from (i) the execution, delivery, performance or enforcement of any of this Agreement, or (ii) the status of the Investor or holder
of the Consent Shares either as an investor in the Company pursuant to the transactions contemplated by this Agreement or as a
party to this Agreement (including, without limitation, as a party in interest or otherwise in any action or proceeding for injunctive
or other equitable relief). To the extent that the foregoing undertaking by the Company may be unenforceable for any reason, the
Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible
under applicable law.

 

    	 	 	 

     

    

 

(h)
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns. The Company shall not assign this Agreement or any rights or obligations hereunder without the prior written
consent of the Investor, including by merger or consolidation. The Investor may not assign its rights or obligations under this
Agreement.

 

(i)
No Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person, other than
as provided in Section 2(g) hereof.

 

(j)
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement.

 

(k)
No Strict Construction. The language used in this Agreement is the language chosen by the parties to express their mutual
intent, and no rules of strict construction will be applied against any party.

 

(l)
Changes to the Terms of this Agreement. This Agreement and any provision hereof may only be amended by an instrument in
writing signed by the Company and the Investor. The term “Agreement” and all reference thereto, as used throughout
this instrument, shall mean this instrument as originally executed, or if later amended or supplemented, then as so amended or
supplemented.

 

(m)
Failure or Indulgence Not Waiver. No failure or delay in the exercise of any power, right or privilege hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or
further exercise thereof or of any other right, power or privilege.

 

**
SIGNATURE PAGE FOLLOWS ** 

 

    	 	 	 

     

    

 

IN
WITNESS WHEREOF, the Investor and the Company have caused this Waiver and Consent Agreement to be duly executed as of the
date first written above.

 

	 	COMPANY:
	 	 	 
	 	QUANTUM
    MATERIALS CORP.
	 	 	 
	 	By:
	 
	 	Name:
    	 
	 	Title:
    	 
	 	 	 
	 	INVESTOR:
	 	 	 
	 	LINCOLN
    PARK CAPITAL FUND, LLC
	 	BY:
    	LINCOLN
    PARK CAPITAL PARTNERS, LLC
	 	BY:
    	ROCKLEDGE
    CAPITAL CORPORATION
	 	 	 
	 	By:	 
	 	Name:	Josh
Scheinfeld
	 	Title:	PresidentExhibit

        
INCREASE REVOLVING JOINDER NO. 1 TO CREDIT AGREEMENT
This INCREASE REVOLVING JOINDER NO. 1 TO CREDIT AGREEMENT, dated as of May 17, 2017 (this “Joinder”), is entered into by and among MICROSEMI CORPORATION, a Delaware corporation (the “Borrower”), the undersigned Subsidiary Guarantors party hereto, MORGAN STANLEY SENIOR FUNDING, INC., as administrative agent (in such capacity, the “Administrative Agent”), as Issuing Lender and Swingline Lender, and BARCLAYS BANK PLC, as an incremental lender (in such capacity, the “2017 Incremental Revolving Lender”).
PRELIMINARY STATEMENTS:
WHEREAS, the Borrower, the several banks and other financial institutions or entities from time to time party thereto as lenders, the Administrative Agent and Morgan Stanley Senior Funding, Inc., as collateral agent (in such capacity, the “Collateral Agent”) entered into that certain Credit Agreement, dated as of January 15, 2016 (as amended, amended and restated, supplemented, restated or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”; capitalized terms not otherwise defined in this Joinder have the same meanings as specified in the Credit Agreement);
WHEREAS, the Borrower has requested that the 2017 Incremental Revolving Lender provide an Incremental Revolving Commitment in an aggregate amount equal to $50,000,000 (the “2017 Incremental Revolving Commitment”) on the Effective Date (as hereinafter defined), and the 2017 Incremental Revolving Lender is prepared to provide the 2017 Incremental Revolving Commitment, and the revolving loans (the “2017 Incremental Revolving Loans”) pursuant thereto, in accordance with the terms of the Credit Agreement (it being understood that the 2017 Incremental Revolving Commitment is an “Incremental Revolving Commitment” and part of the “Revolving Commitments” under the Credit Agreement), subject to the terms and conditions set forth herein; and
WHEREAS, the Borrower, the undersigned Subsidiary Guarantors, the 2017 Incremental Revolving Lender, the Administrative Agent, Issuing Lender and Swingline Lender are entering into this Joinder in order to evidence such 2017 Incremental Revolving Commitment, in accordance with Section 3.16 of the Credit Agreement.
NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto hereby agree as follows:
SECTION 1.    Amendments to Credit Agreement. The Credit Agreement is, effective as of the date hereof and subject to the satisfaction (or waiver) of the conditions precedent set forth in Section 4, hereby amended as follows:
(a)  Section 1.1 of the Credit Agreement shall be amended by adding the following new definitions thereto in proper alphabetical order: 
“2017 Increase Revolving Joinder”: that certain Increase Revolving Joinder No. 1 to Credit Agreement, dated as of May 17, 2017, among the Borrower, the Subsidiary Guarantors, the Administrative Agent and the 2017 Incremental Revolving Lender.
“2017 Increase Revolving Joinder Effective Date”:  the date on which all of the conditions contained in Section 4 of the 2017 Increase Revolving Joinder have been satisfied or waived by the Administrative Agent.
“2017 Incremental Revolving Commitment”:  as to any Lender, the obligation of such Lender, if any, to make 2017 Incremental Revolving Loans and participate in Swingline Loans and Letters of Credit in an aggregate principal and/or face amount not to exceed the amount set forth in Schedule 1.1 or in the Assignment and Assumption pursuant to which such Lender became party hereto, as the same may be changed from time to time pursuant to the terms hereof.  The aggregate amount of the 2017 Incremental Revolving Commitment as of 2017 Increase Revolving Joinder Effective Date is $50,000,000.
“2017 Incremental Revolving Lender”:  a Lender with a 2017 Incremental Revolving Commitment.
“2017 Incremental Revolving Loans”:  the incremental revolving loans made pursuant to the 2017 Incremental Revolving Commitments.

(b)    The definition of “Loan Documents” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
““Loan Documents”:  this Agreement, the Security Documents, the Notes, the Fee Letter, Amendment No. 1, the 2016 Increase Term Joinder, Amendment No. 2, the 2017 Increase Term Joinder, Amendment No. 3, the 2017 Increase Revolving  Joinder, and each Issuer Document.”
(d)  Schedule 1.1 of the Credit Agreement is hereby amended by adding the below to the immediate end thereof:
	
			
	2017 Incremental Revolving Commitment

	2017 Incremental Revolving Lender
	2017 Incremental Revolving Commitment
	2017 Incremental Revolving Percentage

	Barclays Bank PLC
	$50,000,000.00
	100%

	Total:
	$50,000,000.00
	100%

SECTION 2.    The 2017 Incremental Revolving Commitment.  Pursuant to Section 3.16 of the Credit Agreement, and subject to the satisfaction of the conditions set forth in Section 4 hereof, on and as of the Effective Date, the 2017 Incremental Revolving Lender hereby agrees that upon, and subject to, the occurrence of the Effective Date, (i) such 2017 Incremental Revolving Lender shall have, as contemplated by Section 3.16 of the Credit Agreement, a 2017 Incremental Revolving Commitment in an amount equal to the amount set forth opposite such 2017 Incremental Revolving Lender’s name under the heading “2017 Incremental Revolving Commitment” on Schedule 1 to this Joinder, and (ii) such 2017 Incremental Revolving Lender shall be deemed to be, and shall become a “Lender” and a “Revolving Lender” for all purposes of, and subject to all the obligations of a “Lender” and a “Revolving Lender” under the Credit Agreement and the other Loan Documents.  The Borrower and the Administrative Agent hereby agree that from and after the Effective Date, the 2017 Incremental Revolving Lender shall be deemed to be, and shall become, a “Lender” and a “Revolving Lender” for all purposes of, and with all the rights and remedies of a “Lender” and a “Revolving Lender” under the Credit Agreement and the other Loan Documents. The Borrower, the Administrative Agent and the 2017 Incremental Revolving Lender hereby agree that from and after the Effective Date, (i) each 2017 Incremental Revolving Loan shall be a “Loan”, an “Incremental Revolving Loan” and a “Revolving Loan” for all purposes under the Credit Agreement and the other Loan Documents, (ii) the 2017 Incremental Revolving Commitment is a “Commitment”, an “Incremental Revolving Commitment”, and a “Revolving Commitment” for all purposes under the Credit Agreement and the other Loan Documents, and (iii) the credit facility evidenced by the 2017 Incremental Revolving Commitment is an “Incremental Revolving Facility” and part of the “Revolving Facility” and a “Facility” for all purposes under the Credit Agreement and the other Loan Documents.
SECTION 3.    Reference to and Effect on the Loan Documents.
             (a)    On and after the Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the “Credit Agreement”, shall mean and be a reference to the Credit Agreement, as amended by this Joinder.
(b)    The Credit Agreement, as specifically amended by this Joinder, and the other Loan Documents are, and shall continue to be, in full force and effect, and are hereby in all respects ratified and confirmed.
(c)    Except as expressly provided herein, the execution, delivery and effectiveness of this Joinder shall not operate as a waiver of any right, power or remedy of any Lender, the Administrative Agent or the Collateral Agent under the Credit Agreement or any other Loan Document, nor shall it constitute a waiver of any provision of the Credit Agreement or any Loan Document.
(d)    Each of the Borrower and the other Loan Parties hereby (i) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the Loan Documents to which it is a party, (ii) ratifies and reaffirms each grant of a lien on, or security interest in, its property made pursuant to the Loan Documents (including, without limitation, the grant of security made by such Loan Party pursuant to the Guarantee and Collateral Agreement) and confirms that such liens and security interests continue to secure the Secured Obligations, including under the Loan Documents, including, without limitation, all Secured Obligations resulting from or incurred pursuant to the 2017 Incremental Revolving Commitment made pursuant hereto, in each case subject to the terms thereof, and (iii) in the case of each Subsidiary Guarantor, ratifies and reaffirms its guaranty of the Guarantor 

Obligations (as defined in the Guarantee and Collateral Agreement) pursuant to the Guarantee and Collateral Agreement.
(e)    This Joinder shall be deemed a Loan Document for all purposes under the Credit Agreement.
SECTION 4.    Conditions of Effectiveness. This Joinder shall become effective as of the date (the “Effective Date”) on which the following conditions shall have been satisfied (or waived) (and such conditions to the extent inconsistent with Section 3.16(b) of the Credit Agreement shall supersede such Section as provided therein):
(a)     The Administrative Agent (or its counsel) shall have received counterparts of this Joinder executed by the Borrower, the Subsidiary Guarantors and the 2017 Incremental Revolving Lender.
(b)    After giving effect to this Joinder and the transactions contemplated hereby (i) each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents shall be true and correct in all material respects on and as of the Effective Date as if made on and as of such date (except to the extent made as of a specific date, in which case such representation and warranty shall be true and correct in all material respects on and as of such specific date), and (ii) no Default or Event of Default shall have occurred and be continuing or would result from the consummation of the transactions contemplated hereby.
(c)    The Administrative Agent  shall have received a legal opinion of O’Melveny & Myers LLP, counsel to the Loan Parties, addressed to the Administrative Agent and the 2017 Incremental Revolving Lender, in form and substance reasonably satisfactory to the Administrative Agent.
(d)    The Administrative Agent shall have received a certificate of the Borrower substantially in the form of Exhibit F to the Credit Agreement (with such modifications as necessary to make such certificate applicable to the transactions contemplated pursuant to this Joinder) with appropriate insertions and attachments including the certificate of incorporation of the Borrower certified by the relevant authority of the jurisdiction of organization of the Borrower. 
(e)    The Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower confirming compliance with the conditions precedent set forth in clause (b) of this Section 4.
(f)    The Borrower shall have paid all reasonable and documented costs and expenses of the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Joinder (including the reasonable and documented fees, disbursements and other charges of Shearman & Sterling LLP as special New York counsel to the Administrative Agent) to the extent invoiced one (1) Business Day prior to the Effective Date.
SECTION 5.    Representations and Warranties. The Borrower and each other Loan Party hereby represents and warrants to the Administrative Agent that:
(a)    on and as of the date hereof (i) it has all requisite corporate or other power and authority to enter into and perform its obligations under this Joinder, the Credit Agreement as amended hereby and the other Loan Documents to which it is a party, and (ii) this Joinder has been duly authorized, executed and delivered by it; and
(b)    this Joinder, and the Credit Agreement as amended hereby, constitute legal, valid and binding obligations of each Loan Party, enforceable against such Loan Party in accordance with their respective terms, subject only to any limitation under Laws relating to (i) bankruptcy, insolvency, reorganization, moratorium or creditors’ rights generally; and (ii) general equitable principles including the discretion that a court may exercise in the granting of equitable remedies.
SECTION 6.    Costs and Expenses. The Borrower agrees that all reasonable out-of-pocket expenses incurred by the Administrative Agent in connection with the preparation, execution, delivery and administration, modification and amendment of this Joinder and the other instruments and documents to be delivered hereunder or in connection herewith (including, without limitation, the reasonable fees, charges and disbursements of counsel for the Administrative Agent (provided that such fees, charges and disbursements shall not include fees, charge and disbursements for more than one counsel plus one local counsel in each relevant jurisdiction)), are expenses that the Borrower is required to pay or reimburse pursuant to Section 11.5 of the Credit Agreement.
SECTION 7.    Execution in Counterparts. This Joinder may be executed by one or more of the parties to this Joinder on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed signature page of this Joinder by facsimile transmission or electronic mail (in “.pdf” or similar format) shall be effective as delivery of a manually executed 

counterpart hereof.
SECTION 8.    GOVERNING LAW.  THIS JOINDER AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS JOINDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
SECTION 9.    WAIVER OF RIGHT OF TRIAL BY JURY. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS JOINDER OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS JOINDER BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.
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IN WITNESS WHEREOF, the parties hereto have caused this Increase Revolving Joinder No. 1 to Credit Agreement to be executed by their respective authorized officers as of the date first above written.

MICROSEMI CORPORATION
as a Borrower

By:    /s/ John W. Hohener    
Name: John W. Hohener 
Title: Executive Vice President, Chief Financial Officer and Treasurer

MICROSEMI CORP. - MASSACHUSETTS,
as Subsidiary Guarantor
		
	By:
	/s/ John W. Hohener                    

Name: John W. Hohener 
Title: Chief Financial Officer, Treasurer and Secretary

MICROSEMI CORP. - POWER PRODUCTS GROUP, as Subsidiary Guarantor
		
	By:
	/s/ John W. Hohener                    

Name: John W. Hohener 
Title: Chief Financial Officer and Secretary

MICROSEMI CORP. - RF POWER PRODUCTS,
as Subsidiary Guarantor
		
	By:
	/s/ Steven G. Litchfield                    

Name: Steven G. Litchfield 
Title: President, Chief Executive Officer, Chief Financial Officer and Secretary

MICROSEMI CORP. - ANALOG MIXED SIGNAL GROUP, as Subsidiary Guarantor
		
	By:
	/s/ John W. Hohener                    

Name: John W. Hohener 
Title: Vice President, Chief Financial Officer, Secretary and Treasurer

MICROSEMI FREQUENCY AND TIME CORPORATION, as Subsidiary Guarantor
		
	By:
	/s/ John W. Hohener                    

Name: John W. Hohener 
Title: Secretary
 

MICROSEMI SEMICONDUCTOR (U.S.) INC.,
as Subsidiary Guarantor
		
	By:
	/s/ John W. Hohener                    

Name: John W. Hohener 
Title: Chief Financial Officer and Corporate Secretary

MICROSEMI STORAGE SOLUTIONS, INC.,
as Subsidiary Guarantor
		
	By:
	/s/ John W. Hohener                    

Name: John W. Hohener 
Title: Chief Financial Officer and Treasurer

MICROSEMI SOLUTIONS (U.S.), INC., 
as Subsidiary Guarantor
		
	By:
	/s/ John W. Hohener                    

Name: John W. Hohener 
Title: Chief Financial Officer and Treasurer

MICROSEMI CORP. - POWER MANAGEMENT GROUP,
as Subsidiary Guarantor
		
	By:
	/s/ John W. Hohener                    

Name: John W. Hohener 
Title: Vice President, Chief Financial Officer, Secretary and Treasurer

MICROSEMI SOC CORP., 
as Subsidiary Guarantor
		
	By:
	/s/ Esam Elashmawi                    

Name: Esam Elashmawi 
Title: President, Chief Financial Officer and Secretary

MORGAN STANLEY SENIOR FUNDING, INC., 
as Administrative Agent, Issuing Bank and Swingline Lender
		
	By:
	/s/ Jonathan Rauen                    

Name: Jonathan Rauen
Title: Authorized Signatory

BARCLAYS BANK PLC, 
as a 2017 Incremental Revolving Lender
		
	By:
	/s/ May Huang                    

Name: May Huang
Title: Assistant Vice President

SCHEDULE 1
2017 Incremental Revolving Commitment and 2017 Incremental Revolving Lender
	
			
	2017 Incremental Revolving Commitment

	2017 Incremental Revolving Lender
	2017 Incremental Revolving Commitment
	2017 Incremental Revolving Percentage

	Barclays Bank PLC
	$50,000,000.00
	100%

	Total:
	$50,000,000.00
	100%

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