Document:

ex109gtatsecondamendment

EXECUTION VERSION   SECOND AMENDMENT TO POLY/DSS LICENSE AGREEMENT    This Second Amendment (the “Second Amendment”), dated as of July 20, 2015, to the   License Agreement, effective as of July 5, 2010 (as modified by that certain Amendment No. 1   to License Agreement, effective as of April 3, 2011, and as further modified by that certain   Polysilicon Transfer Pricing Analysis and Report for the Calendar Year Ended December 31,   2013, the “Poly/DSS License Agreement”), is entered into by and between GTAT Corporation   (f/k/a GT Solar Incorporated) (“Licensor”), a Delaware corporation, and GT Advanced   Technologies Limited (f/k/a GT Solar Hong Kong, Limited) (“Licensee” and, together with   Licensor, the “Parties”), a limited liability company organized and existing under the laws of   Hong Kong.  Capitalized terms used in this First Amendment but not otherwise defined herein   shall have the meaning set forth in the Poly/DSS License Agreement.   RECITALS   WHEREAS, on October 6, 2014 (the “Petition Date”), Licensor, Licensee, GT Advanced   Equipment Holding LLC (“GT SPE”), GT Advanced Technologies, Inc. (“GT Parent”), GT   Equipment Holdings, Inc., Lindbergh Acquisition Corp., GT Sapphire Systems Holding LLC,   GT Advanced Cz LLC and GT Sapphire Systems Group LLC (collectively, the “Debtors”) filed   chapter 11 cases in the United States Bankruptcy Court for the District of New Hampshire (the   “Bankruptcy Court”);   WHEREAS, under the DSS/Poly License Agreement, Licensor granted Licensee, among   other things, a nonexclusive right and license to make, have made, assemble, have assembled,   use, sell, and/or import directional solidification systems and reactors for the production of   polysilicon in all countries outside of the United States;   WHEREAS, Licensor and Licensee are parties to: (a) that certain License Agreement,   effective as of April 1, 2011, as modified by that certain Sapphire Transfer Pricing Analysis and   Report for Fiscal Year Ended March 31, 2012, issued January 21, 2013 (the “ASF License   Agreement”); (b) that certain Agreement for Sharing Development Costs, effective as of April   11, 2011 (the “Cost Sharing Agreement”); (c) that certain Management and Administrative   Services Agreement, effective as of April 3, 2011 (the “2011 Services Agreement”); and (d) that   certain Management and Administrative Services Agreement, effective as of July 5, 2010 (the   “2010 Services Agreement” and, together with the ASF License Agreement, the Cost Sharing   Agreement, the Poly/DSS License Agreement, and the 2011 Services Agreement, the   “Prepetition Intercompany Agreements”);   WHEREAS, following extensive good faith, arm’s-length negotiations among Licensor,   GT SPE, Licensee, certain unaffiliated holders of notes issued by GT Parent, and other parties in   interest, Licensor, GT SPE, and Licensee have agreed to enter into that certain Intercompany   Settlement Agreement, dated as of July 20, 2015 (the “Intercompany Settlement Agreement”),   which resolves numerous intercompany issues, including, without limitation, the sale of their   advanced sapphire furnaces in the marketplace and the sharing of proceeds from such sales   among them;     

 

2      WHEREAS, Licensor and Licensee each desire to assume the Poly/DSS License   Agreement, as amended by this First Amendment, subject to the terms and conditions in the   Intercompany Settlement Agreement, including, without limitation, Licensee’s issuance of that   certain Contingent Note, dated July 20, 2015 (the “Contingent Note”) (a copy of which is   annexed to the Intercompany Settlement Agreement), to satisfy, among other things, the cure   costs under the Poly/DSS License Agreement.   WHEREAS, under the Intercompany Settlement Agreement, Licensee has agreed to issue   to Licensor that certain Priority Note, dated July 20, 2015 (the “Priority Note”) (a copy of which   is annexed to the Intercompany Settlement Agreement), to satisfy certain post-petition   administrative expense claims by Licensor against Licensee; and   WHEREAS, in connection with the Intercompany Settlement Agreement, Licensor, GT   SPE, and Licensee have entered into that certain Intercompany Sales Agreement, dated July 20,   2015 (the “Intercompany Sales Agreement”) (a copy of which is annexed to the Intercompany   Settlement Agreement) governing the sale of advanced sapphire furnaces by Licensor and GT   SPE to Licensee.    NOW, THEREFORE, in consideration of the mutual promises hereinafter set forth, the   Parties agree as follows:   1. AMENDMENTS TO POLY/DSS LICENSE AGREEMENT   1.1 Section 9.1 of the Poly/DSS License Agreement is hereby deleted in its entirety and   inserted in place thereof shall be the new Section 9.1:   The term of this Agreement will commence on the Effective Date and will   continue until the later of (a) the Maturity Date (as defined in the Priority Note) of   the Priority Note and (b) the date that the Contingent Note has been repaid in full   (including all interest accrued thereupon), unless terminated pursuant to this   Article IX; provided, that beginning on the date that is four years from   Bankruptcy Court approval of the Intercompany Settlement Agreement, each of   Licensor and Licensee may terminate this Agreement upon no less than three (3)   months prior written notice to the other.     1.2 The following new Sections 9.2 (v), (vi), and (vii) shall be added at the end of Section 9.2   of the Poly/DSS License Agreement:   (v)  Licensee is in breach of its obligation to pay royalty under Article III of this   Agreement and such failure to pay is not cured within 10 days after Licensor   provided notice of such non-payment to Licensee.   (vi)  An Event of Default (as defined under the Priority Note or the Contingent Note,   as applicable) has occurred under the Priority Note or the Contingent Note.   (vii)  Licensee is in material breach of any of its obligations under (a) the Intercompany   Settlement Agreement, (b) the Intercompany Sales Agreement, (c) the ASF     

 

3      License Agreement (as amended by that certain First Amendment to ASF License   Agreement, dated as of July 20, 2015), (d) the Cost Sharing Agreement (as   amended by that certain First Amendment to Cost Sharing Agreement, dated as of   July 20, 2015), (e) the 2010 Services Agreement (as amended by that certain First   Amendment to Management and Administrative Services Agreement (Effective   as of July 5, 2015), dated as of July 20, 2015), or (f) the 2011 Services Agreement   (as amended by that certain First Amendment to Management and Administrative   Services Agreement (Effective as of April 3, 2011), dated as of July 20, 2015),   and such breach is not cured within 10 days after Licensor provided notice of such   breach to Licensee.   1.3 The issuance of the Priority Note and the Contingent Note, together with the $10 million   cash payment under the Intercompany Settlement Agreement, resolves all of the Parties’   payment obligations under the Poly/DSS License Agreement through the end of the   second quarter of 2015.   2. MISCELLANEOUS   2.1 Except as otherwise amended herein, the terms and conditions of the Poly/DSS License   Agreement shall remain in full force and effect.   2.2 This First Amendment will be governed by and construed in accordance with the laws of   the State of New Hampshire, USA, without regards to its conflict of law provisions.   2.3 This First Amendment may be executed in counterparts, and when all parties have   executed a copy hereof, the executed copies taken together shall be deemed to be the full   and complete agreement of the Parties.   2.4 The effectiveness of this First Amendment and the obligations of each of the Parties   hereunder are conditioned upon entry of an order by the Bankruptcy Court approving the   Intercompany Settlement Agreement.   [remainder of page intentionally left blank]ex1010firstamendmenttose

EXECUTION VERSION      FIRST AMENDMENT TO MANAGEMENT AND ADMINISTRATIVE SERVICES   AGREEMENT (EFFECTIVE AS OF JULY 5, 2010)    This First Amendment (the “First Amendment”), dated as of July 20, 2015, to the   Management and Administrative Services Agreement, effective as of July 5, 2010 (the “2010   Services Agreement”), is entered into by and between GTAT Corporation (f/k/a GT Solar   Incorporated) (“Provider”), a Delaware corporation, and GT Advanced Technologies Limited   (f/k/a GT Solar Hong Kong, Limited) (“Recipient” and, together with Provider, the “Parties”), a   limited liability company organized and existing under the laws of Hong Kong.  Capitalized   terms used in this First Amendment but not otherwise defined herein shall have the meaning set   forth in the 2010 Services Agreement.   RECITALS    WHEREAS, on October 6, 2015, Provider, Recipient, GT Advanced Equipment Holding   LLC (“GT SPE”), GT Advanced Technologies, Inc. (“GT Parent”), GT Equipment Holdings,   Inc., Lindbergh Acquisition Corp., GT Sapphire Systems Holding LLC, GT Advanced Cz LLC   and GT Sapphire Systems Group LLC filed chapter 11 cases in the United States Bankruptcy   Court for the District of New Hampshire (the “Bankruptcy Court”);    WHEREAS, Provider and Recipient are parties to: (a) that certain License Agreement,   effective as of April 1, 2011, as modified by that certain Sapphire Transfer Pricing Analysis and   Report for Fiscal Year Ended March 31, 2012, issued January 21, 2013 (the “ASF License   Agreement”); (b) that certain Agreement for Sharing Development Costs, effective as of April   11, 2011 (the “Cost Sharing Agreement”); (c) that certain License Agreement, effective as of   July 5, 2010, as modified by that certain Amendment No. 1 to License Agreement, effective as of   April 3, 2011, and as further modified by that certain Polysilicon Transfer Pricing Analysis and   Report for the Calendar Year Ended December 31, 2013 (the “Poly/DSS License Agreement”);   (d)  that certain Management and Administrative Services Agreement, effective as of April 3,   2011 (the “2011 Services Agreement” and, together with the ASF License Agreement, the Cost   Sharing Agreement, the Poly/DSS License Agreement, and the 2010 Services Agreement, the   “Prepetition Intercompany Agreements”);   WHEREAS, following extensive good faith, arm’s-length negotiations among Provider,   GT SPE, Recipient, certain unaffiliated holders of notes issued by GT Parent, and other parties in   interest, Provider, GT SPE, and Recipient have agreed to enter into that certain Intercompany   Settlement Agreement, dated as of July 20, 2015 (the “Intercompany Settlement Agreement”),   which resolves numerous intercompany issues, including, without limitation, the sale of their   ASF Furnaces in the marketplace and the sharing of proceeds from such sales among them;    WHEREAS, Provider and Recipient each desire to assume the 2010 Services Agreement,   as amended by this First Amendment, subject to the terms and conditions in the Intercompany   Settlement Agreement, including, without limitation, Party 2’s issuance of that certain   Contingent Note, dated July 20, 2015 (the “Contingent Note”) (a copy of which is annexed to the   Intercompany Settlement Agreement), to satisfy, among other things, the cure costs under the   Prepetition Intercompany Agreements;     

 

   2      WHEREAS, under the Intercompany Settlement Agreement, Recipient has agreed to   issue to Provider that certain Priority Note, dated July 20, 2015 (the “Priority Note”) (a copy of   which is annexed to the Intercompany Settlement Agreement), to satisfy certain post-petition   administrative expense claims by Provider against Recipient; and   WHEREAS, in connection with the Intercompany Settlement Agreement, Provider, GT   SPE, and Recipient have entered into that certain Intercompany Sales Agreement, dated July 20,   2015 (the “Intercompany Sales Agreement”) (a copy of which is annexed to the Intercompany   Settlement Agreement) governing the sale of ASF Furnaces by Provider and GT SPE to   Recipient.    NOW, THEREFORE, in consideration of the mutual promises hereinafter set forth, the   Parties agree as follows:   1. AMENDMENTS TO 2010 SERVICES AGREEMENT   1.1 Section 2.1 of the 2010 Services Agreement is hereby deleted in its entirety and inserted   in place thereof shall be the following new Section 2.1:   The term of this Agreement will commence on the Effective Date and will   continue until the later of (a) the Maturity Date (as defined in the Priority Note) of   the Priority Note and (b) the date that the Contingent Note has been repaid in full   (including all interest accrued thereupon), unless terminated sooner as hereinafter   provided; provided, that beginning on the date that is four years from Bankruptcy   Court approval of the Intercompany Settlement Agreement, each of Provider and   Recipient may terminate this Agreement upon no less than three (3) months prior   written notice to the other.     1.2 The following provision shall be added to the end of Section 2.2 of the 2010 Services   Agreement:    In addition, this Agreement will terminate if: (i) an Event of Default (as defined   under the Priority Note or the Contingent Note, as applicable) has occurred under   the Priority Note or the Contingent Note; or (ii) Recipient is in material breach of   any of its obligations under (a) the Intercompany Settlement Agreement, (b) the   Intercompany Sales Agreement, (c) the ASF License Agreement (as amended by   that certain First Amendment to ASF License Agreement, dated as of July 20,   2015), (d) the Cost Sharing Agreement (as amended by that certain First   Amendment to Cost Sharing Agreement, dated as of July 20, 2015), (e) the   Poly/DSS License Agreement (as amended by that certain Second Amendment to   Poly/DSS License Agreement, dated as of July 20, 2015), or (f) the 2011 Services   Agreement (as amended by that certain First Amendment to Management and   Administrative Services Agreement (Effective as of April 3, 2011), dated as of   July 20, 2015), and such breach is not cured within 10 days after Provider   provided notice of such breach to Recipient.     

 

   3      1.3 The issuance of the Priority Note and the Contingent Note, together with the $10 million   cash payment under the Intercompany Settlement Agreement, resolves all of the Parties’   payment obligations under the 2010 Services Agreement through the end of the second   quarter of 2015.   2. MISCELLANEOUS   2.1 Except as otherwise amended herein, the terms and conditions of the 2010 Services   Agreement shall remain in full force and effect.   2.2 This First Amendment will be governed by and construed in accordance with the laws of   Hong Kong, without regards to its conflict of law provisions.   2.3 This First Amendment may be executed in counterparts, and when all parties have   executed a copy hereof, the executed copies taken together shall be deemed to be the full   and complete agreement of the Parties.   2.4 The effectiveness of this First Amendment and the obligations of each of the Parties   hereunder are conditioned upon entry of an order by the Bankruptcy Court approving the   Intercompany Settlement Agreement.      [remainder of page intentionally left blank]           

 

         By their respective signatures below, the authorized representatives of Provider and   Recipient each acknowledge their understanding, agreement and acceptance of this First   Amendment, as of the date first written above.       GT Advanced Technologies Limited,a Hong   Kong limited liability company    By: /s/ Hoil Kim ________________________    Printed Name: Hoil Kim    Title: Director       GTAT Corporation, a Delaware corporation    By: /s/ Hoil Kim ________________________    Printed Name: Hoil Kim    Title:  Vice President, Chief Administrative   Officer, General Counsel and Secretary

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