Document:

Credit Facility Agreement, dated December 15, 2006

 Exhibit 10.13 
  
  
 US$ 35,000,000 FACILITY AGREEMENT

  
  
  
  
 dated 15 December, 2006 
  
  
  
  
  
 for 
  
  
  
  
 FABRINET 
  
  
  
  
 FABRINET COMPANY LIMITED 
  
 as co-Borrowers 
  
  
  
  
 with 
  
  
  
 ABN AMRO Bank N.V. 
  
 as
Lender 

 CONTENTS 
  

			
	 CLAUSE
	  	PAGE
		
	 SECTION 1 INTERPRETATION
	  	1
		
	 1.      Definitions And Interpretation
	  	1
		
	 SECTION 2 THE FACILITY
	  	10
		
	 2.      The Facility
	  	10
		
	 3.      PURPOSE
	  	10
		
	 4.      Conditions Of Utilisation
	  	10
		
	 SECTION 3 UTILISATION
	  	11
		
	 5.      Utilisation
	  	11
		
	 SECTION 4 REPAYMENT AND PREPAYMENT
	  	12
		
	 6.      Repayment
	  	12
		
	 7.      Prepayment
	  	12
		
	 SECTION 5 COSTS OF UTILISATION
	  	13
		
	 8.      Interest
	  	13
		
	 9.      Interest Periods
	  	13
		
	 10.    Changes To The Calculation Of Interest
	  	14
		
	 11.    Commitment And Facility Fees
	  	14
		
	 SECTION 6 ADDITIONAL PAYMENT OBLIGATIONS
	  	15
		
	 12.    Tax Gross Up And Indemnities
	  	15
		
	 13.    Increased Costs
	  	16
		
	 14.    Other Indemnities
	  	16
		
	 15.    Costs And Expenses
	  	17
		
	 SECTION 7 REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF DEFAULT
	  	17
		
	 16.    Representations
	  	17
		
	 17.    Information Undertakings
	  	20
		
	 18.    General Undertakings
	  	22
		
	 19.    Events Of Default
	  	24
		
	 SECTION 8 CHANGES TO PARTIES
	  	27
		
	 20.    Changes To The Lenders
	  	27
		
	 21.    Changes To The Borrower
	  	27

			
	 SECTION 9 ADMINISTRATION
	  	28
		
	 22.    Payment Mechanics
	  	28
		
	 23.    SET-OFF
	  	29
		
	 24.    Notices
	  	29
		
	 25.    Calculations And Certificates
	  	31
		
	 26.    Partial Invalidity
	  	31
		
	 27.    Remedies And Waivers
	  	31
		
	 28.    Amendments And Waivers
	  	31
		
	 29.    Counterparts
	  	31
		
	 SECTION 10 GOVERNING LAW AND JURISDICTION
	  	32
		
	 30.    Jurisdiction
	  	32
		
	 31.    Waiver Of Trial By Jury
	  	32
		
	 32.    Governing Law
	  	32
		
	 33.    No Limitation On Right Of Action
	  	32
		
	 SCHEDULE 1 FORM OF CERTIFICATION REPORT
	  	35
		
	 SCHEDULE 2 FORM OF THE PROMISSORY NOTE
	  	36
		
	 SCHEDULE 3 FORM OF UTILISATION REQUESTS
	  	37
		
	 SCHEDULE 4 FORM OF RECEIPT
	  	38
		
	 SCHEDULE 5 CONDITIONS PRECEDENT
	  	39
		
	 SCHEDULE 6 FORM OF ROLLOVER REQUESTS
	  	41
		
	 SCHEDULE 7 FORM OF COMPLIANCE CERTIFICATE
	  	42

 THIS AGREEMENT is dated 15 December, 2006 and made between: 
  

	 (1)    
		 (A)   FABRINET, a company incorporated in Cayman Islands whose registered office is at Walker House P.O.
Box 908 GT 87 Mary Street, George Town, Grand Cayman, Cayman Islands, British West Indies, as the borrower (the “Fabrinet”) and 

  

	 	(B)	 	FABRINET CO., LTD., a company incorporated in Thailand whose registered office is at 294 Moo 8, Vibhavadi Rangsit Road, Kookot, Lumlookka, Pathumthanee 12130, Thailand, as
the borrower (the “Fabrinet Co”), 

  
 (Fabrinet and Fabrinet Co shall be collectively referred to as the “Borrowers” and individually as the “Borrower”), 
  
 AND 
  

	(2)	 	ABN AMRO BANK N.V., a company incorporated in the Netherlands and acting through its offices located at One Raffles Quay, South Tower, Singapore 048583 and 3-4 Floor, Bangkok
City Tower 179/3 South Satorn Road, Bangkok 10120, Thailand, as the lender (the “Lender”). 

  
 IT IS AGREED as follows: 
  
 SECTION 1 
 INTERPRETATION 
  

	1.	 	DEFINITIONS AND INTERPRETATION 

  

	1.1	 	Definitions 

  
 In this Agreement: 
  
 “Accounts Receivable” means all accounts (as defined in the U.C.C.) of Fabrinet evidencing the receivables owed or to be owed by any
account debtor of Fabrinet including but not limited to JDS Uniphase Corporation, Finisar Corp, Avanex, Emcore, Intel Corporation, Opnext, and Bookham or any of their respective successors, including, without limitation, accounts which arise or have
arisen pursuant to any sale and purchase agreement (including, but not limited to, all Sale and Purchase Agreements), and all rights to the payment of money for or relating to the sale or lease of goods or for services rendered, in each case whether
or not earned by performance, including all monies or rights to payment due and to become due to Fabrinet for goods sold or leased or for services rendered including, without limitation, rights evidenced by an account, note, contract, security
agreement or other evidence of indebtedness or security together with (i) all security pledged, assigned, hypothecated or granted to or held by Fabrinet to secure the foregoing, (ii) all of the grantor’s right, title and interest in
and to any goods, the sale of which gave rise to any of the foregoing, (iii) all guarantees, endorsements and indemnifications on, or of, any of the foregoing, (iv) all powers of attorney for the execution of any evidence of indebtedness
or security or other writing in connection therewith, (v) all books, records, ledger cards, and invoices relating thereto, (vi) all evidence of the filing of financing statements and other statements and the registration of other
instruments in connection therewith and amendments thereto, notices to other creditors or secured parties, and certificates from filing or other registration officers, (vii) all credit information, reports 
  
 and memoranda relating thereto and (viii) all other writings related in
any way to the foregoing. 
  
 “Affiliate” means,
in relation to any person, a Subsidiary of that person or a Holding Company of that person or any other Subsidiary of that Holding Company. 

 “Assignment and Security Agreement” means an assignment and security agreement entered
into or to be entered into between Fabrinet and the Lender in form and substance acceptable to the Lender whereby Fabrinet has agreed to, and does, assign, and grant a security interest in, the Accounts Receivable originating from the Relevant
Customers to the Lender as a security for the performance of the Borrowers’ obligations under the Finance Documents. 
  
 “Authorisation” means: 
  

	 	(a)	 	an authorisation, consent, approval, resolution, licence, exemption, filing, notarisation, lodgement or registration; or 

  

	 	(b)	 	in relation to anything which will be fully or partly prohibited or restricted by law or regulation if a Governmental Agency intervenes or acts in any way within a specified period
after lodgement, filing, registration or notification, the expiry of that period without intervention or action. 

  
 “Availability Period” means the period from and including the date of this Agreement and ending on the earlier of: 
  

	 	(i)	 	for Tranche I, the date which is 24 months after the date of the initial Tranche I Loan; and 

  

	 	(ii)	 	for Tranche II, the date which is 12 months after the date of the initial Tranche II Loan; 

  
 provided, however, that the initial Tranche II Loan must be made within 180 days of the date of this Agreement, and the
initial Tranche I Loan must be made within 360 days of the date of the initial Tranche II Loan. 
  
 “Available Facility” means the sum of the Available Tranche I Facility and the Available Tranche II Facility. 
  
 “Available Tranche I Facility” means, at any time, the
amount of Tranche I Commitment then existing minus the aggregate principal amount of all Tranche I Loans then outstanding. 
  
 “Available Tranche II Facility” means, at any time, the amount of Tranche II Commitment then existing minus the aggregate principal
amount of all Tranche I Loans then outstanding. 
  
 “Bank
of Nova Scotia Facility” means the credit facility extended by The Bank of Nova Scotia to either or both of the Borrowers pursuant to the Revolving Facility Agreement dated 4 March 2005. 
  
 “Break Costs” means the amount (if any) by which:

  

	 	(a)	 	the interest which the Lender should have received for the period from the date of receipt of all or any part of its participation in a Loan or Unpaid Sum to the last day of the
current Interest Period in respect of that Loan or Unpaid Sum, had the principal amount or Unpaid Sum received been paid on the last day of that Interest Period; 

  
 exceeds: 
  

	 	(b)	 	the amount which that Lender would be able to obtain by placing an amount equal to the principal amount or Unpaid Sum received by it on deposit with a leading bank in the relevant
interbank market for a period starting on the Business Day following receipt or recovery and ending on the last day of the current Interest Period. 

  
 “Business Day” means a day (other than a Saturday or Sunday) on which: 
  

 2 

	 	(a)	 	in relation to a quotation of LIBOR, a day on which the commercial banks are open for general business in Bangkok and New York City (and any other relevant financial center) for the
transaction of business of the nature required by this Agreement and also, in relation to a day on which a payment is required, in the place where such payment is to be made in accordance with this Agreement; 

  

	 	(b)	 	in relation to other matters, a day on which the Lender is open for business in Bangkok. 

  

 “Cash Equivalents” means (a) securities issued or directly and fully guaranteed or insured by the United States of
America or any agency or instrumentality thereof (provided that the full faith and credit of the United States of America is pledged in support thereof) having maturities of not more than twelve months from the date of acquisition, (b) U.S.
dollar denominated time and demand deposits and certificates of deposit of (i) the lender), (ii) any bank whose short-term commercial paper rating from Standard & Poor’s Ratings Services (a division of the McGraw-Hill
Companies, Inc., “S&P”) is at least A-l or the equivalent thereof or from Moody’s Investors Service, Inc. (“Moody’s”) is at least P-l or the equivalent thereof (any such bank being an “Approved Bank”), in
each case with maturities of not more than 270 days from the date of acquisition, (c) commercial paper and variable or fixed rte notes issued by any Approved Bank (or by the parent company thereof) or any variable rate notes issued by, or
guaranteed by, any corporation rated A-l (or the equivalent thereof) or better by S&P or P-l (or the equivalent thereof) or better by Moody’s and maturing within six months of the date of acquisition, (d) repurchase agreements with
Approved Banks for direct obligations issued by or fully guaranteed by the United States of America in which the Borrower shall have a perfected first priority security interest (subject to no other Security) and having on the date of purchase
thereof, a fair market value of at least 100% of the amount of the repurchase obligations and (e) investments, classified in accordance with GAAP as current assets, in money market investment programs registered under the Investment Company Act
of 1940, as amended, which are administered by financial institutions having capital of at least US$500,000,000 and the portfolios of which are limited to investments of the character described in the foregoing subdivisions (a) through (d).

  
 “Certification Report” means a certification
report substantially in the form set out in Schedule 1 (Form of Certification Report). 
  
 “CI$” means the lawful currency for the time being of the Cayman Islands. 
  
 “Commitment” means the sum from time to time of the Tranche I Commitment and the Tranche II Commitment.

  
 “Commitment Fee” means the periodic fee
required by Clause 11. 
  
 “Default” means an
Event of Default or any event or circumstance specified in Clause 18.8 (Events of Default) which would (with the expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of
any of the foregoing) be an Event of Default. 
  
 “Default
Interest Rate” means the sum of (i) LIBOR for consecutive overnight periods plus (ii) the Margin applicable to the respective Loan prior to Default, plus (iii) two per cent. (2.00%) per annum. 
  
 “EBITDA” means income of the Borrowers and their
Subsidiaries, on a consolidated basis, for the four fiscal quarters most recently concluded, before income taxes (i) excluding all non¬recurring items and extraordinary gains or losses including but not limited to in-process research and
development write-offs and direct acquisition integration costs and (ii) plus (1) Interest Expense, (2) depreciation and amortization expense, and (3) income (or loss) from 

  

 3 

 
discontinued operations, all as the same are or would be set forth in a statement of the income of the Borrowers and their Subsidiaries, on a consolidated
basis, for such period. 
  
 “Eligible Accounts
Receivable” means the aggregate value of all outstanding Accounts Receivable calculated on the last day of the calendar month immediately preceding the proposed Utilisation Date; provided that, such Accounts Receivable:

  

	 	•	 	 are not due from any affiliate of either Borrower; 

  

	 	•	 	 are not subject to any specific allowance or provision, or to any Security; 

  

	 	•	 	 are not subject to contra-accounts, off-setting, bartering (payment in kind), disputes or counterclaims; 

  

	 	•	 	 do not have an original term of more than 90 days; 

  

	 	•	 	 are not past due from their original maturity date; 

  

	 	•	 	 do not include Accounts Receivable due from any account debtor to the extent the amount of such Accounts Receivable, when added to all other Eligible Accounts
Receivable due from the same account debtor would exceed fifteen per cent. (15%) of all Eligible Accounts Receivable or, in the case of secured Accounts Receivable due from JDSU and Finisar, twenty five per cent. (25%) of all Eligible
Accounts Receivable; and 

  

	 	•	 	 are subject to the perfected security interest of the Lender. 

  
 “Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments,
injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Agency, relating in any way to the environment, preservation or reclamation of natural resources, the management, release or threatened release of any
Hazardous Material or to health and safety matters. 
  
 “Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of either Borrower or directly or indirectly
resulting from or based upon (a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the
release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 
  
 “ERISA” means the Employee Retirement Income Security Act of
1974, as amended from time to time. 
  
 “ERISA
Affiliate” means any trade or business (whether or not incorporated) that, together with either Borrower, is treated as a single employer under Section 414(b) or (c) of the Code, or, solely for purposes of Section 302 of
ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code. 
  
 “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or the regulations issued
thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) the existence with respect to any Plan of an “accumulated funding deficiency” (as defined in Section 412 of the Code or
Section 302 of ERISA), whether or not waived; (c) the filing pursuant to Section 412(d) of the Code or Section 303 (d) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan;
(d) the incurrence by either Borrower or any of its ERISA Affiliates of any liability under Title IV of 

  

 4 

 
ERISA with respect to the termination of any Plan; (e) the receipt by either Borrower or any ERISA Affiliate from the PBGC or a plan administrator of
any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (f) the incurrence by either Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial
withdrawal froni any Plan or Multiemployer Plan; or (g) the receipt by either Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from either Borrower or any ERISA Affiliate of any notice, concerning the
imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA. 
  
 “Event of Default” means any event or circumstance specified as such in Clause 18.8 (Events of
Default). 
  
 “Facility” means the revolving
loan facility made available under this Agreement as described in Clause 2 (The Facility). 
  
 “Facility Fee” means the one-time fee required by Clause 11. 
  
 “Finance Document” means this Agreement, the Security Documents and any other document designated as such
by the Lender and the Borrowers. 
  
 “Financial
Indebtedness” means any indebtedness for or in respect of: 
  

	 	(a)	 	moneys borrowed; 

  

	 	(b)	 	any amount raised by acceptance under any acceptance credit facility; 

  

	 	(c)	 	any amount raised pursuant to any promissory note, bill of exchange, purchase facility or the issue of bonds, promissory notes, bills of exchange, debentures, loan stock or any
similar instrument; 

  

	 	(d)	 	the amount of any liability in respect of any lease or hire purchase contract which would, in accordance with GAAP, be treated as a finance or capital lease;

  

	 	(e)	 	receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis); 

  

	 	(f)	 	any amount raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing; 

  

	 	(g)	 	any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value of any derivative
transaction, only the marked to market value shall be taken into account); 

  

	 	(h)	 	any counter-indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of credit or any other instrument issued by a bank or financial
institution; and 

  

	 	(i)	 	the amount of any liability in respect of any guarantee or indemnity for any of the items referred to in paragraphs (a) to (h) above. 

  
 “GAAP” means: 
  

	 	(i)	 	in relation to Fabrinet Co, generally accepted accounting principles in Thailand; and 

  

	 	(ii)	 	in relation to Fabrinet, generally accepted accounting principles in the United States of America. 

  

 5 

 “Governmental Agency” means any government or any governmental agency, semi-governmental
or judicial entity or authority (including, without limitation, the Ministry of Finance, the Bank of Thailand, any stock exchange or any self-regulatory organisation established under statute). 
  
 “Hazardous Materials” means all explosive or
radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical
wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law. 
  
 “Holding Company” means, in relation to a company or corporation, any other company or corporation in respect of which it is a
Subsidiary. 
  
 “Interest Bearing Debt” means all
Financial Indebtedness other than subordinated shareholder loans as defined in the Original Financial Statements. 
  
 “Interest Expense” means, for any period, the total interest expense of the Borrowers determined as the same would be set forth in a
statement of income of the Borrowers for such period. 
  
 “Interest Period” means, in relation to a Loan, each period determined in accordance with Clause 9 (Interest Periods). 
  
 “Loan” means a loan made or to be made under Tranche I or Tranche II of the Facility or the principal amount outstanding for the time
being of that loan. 
  
 “Margin” means, with
respect to each Tranche I Loan, two and one quarter per cent. (2.25%) per annum; and with respect to each Tranche II Loan, one and three quarters per cent. (1.75%) per annum. 
  
 “Material Adverse Effect” means a material adverse effect, which has been determined by the Lender, on
(a) the business, operations, property, condition (financial or otherwise) or prospects of either of the Borrowers taken as a whole; (b) the ability of either of the Borrowers to perform its obligations under the Finance Documents; or
(c) the validity or enforceability of this Agreement or the rights or remedies of the Lender under the Finance Documents. 
  
 “Multiemplover Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 
  
 “Notice of Assignment” means the notice(s) of assignment as
required under the Assignment and Security Agreement. 
  
 “Original Financial Statements” means the audited consolidated financial statements of the Borrowers for their respective financial years ended June 30, 2006. 
  
 “Party” means a party to this Agreement. 
  
 “PBGC” means the Pension Benefit Guaranty Corporation
referred to and defined in ERISA and any successor entity performing similar functions. 
  
 “Plan” means any employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in
respect of which either Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 
  

 6 

 “Promissory Note” means a non-negotiable promissory note having a term of not exceeding
six (6) months (but, in any case, not exceeding the Availability Period) issued by the Borrowers payable to the Lender, substantially in the form set out in Schedule 2 (Form of Promissory Note) and affixed with the stamp duty.

  
 “Quotation Day” means, in relation to any
period for which an interest rate is to be determined, two Business Days before the first day of that period. 
  
 “Receipt” means a receipt substantially in the form set out in Schedule 3 (Form of Receipt) or such other form as is agreed
between the Lender and the Borrowers. 
  
 “Related
Contracts” means all instruments, chattel paper or letters of credit (each as defined in the U.C.C.) and all security agreements, guaranties, leases and other contracts and contract rights arising from the sale or lease of goods or services
rendered, of Fabrinet, including, without limitation, all those evidencing, representing, arising from or existing in respect of, securing or otherwise supporting the payment of, or in any way relating to, any of the Receivables. 
  
 “Relevant Customer” means any customer of Fabrinet which is
organized and exists under the laws of the United States of America or any State or other political subdivision thereof, or which is acting through an office or other permanent establishment located in the United States of America. 
  
 “Rollover Loan” means Loan: 
  

	 	(a)	 	made or to be made on the same day that a maturing Loan is due to be repaid; 

  

	 	(b)	 	the aggregate amount of which is equal to or less than the maturing Loan; and 

  

	 	(c)	 	made or to be made to the same Borrower for the purpose of refinancing a maturing Loan. 

  

 “Rollover Request” means a notice substantially in the form set out in Schedule 6 (Form of Rollover Request).

  
 “Sale and Purchase Agreements” means the sale
and purchase agreements (or any other writings related in any way to the sale or lease of goods or for services rendered including, but not limited to, the Related Contracts) entered into or to be entered into between Fabrinet and the Relevant
Customers or any of them. 
  
 “Security” means a
mortgage, pledge, hypothecation, title retention, assignment, deposit arrangement, encumbrance, lien (statutory or other), or preferential payment arrangement, priority or other security agreement of any kind or nature whatsoever, including, without
limitation, any conditional sale or other title retention agreement, any financing lease having substantially the same effect as any of the foregoing and the filing of any financing statement or similar instrument under the U.C.C. or comparable law
of any jurisdiction, domestic or foreign. 
  
 “Security
Documents” means the Assignment and Security Agreement (including the Notice of Assignment) and any other document executed from time to time by each Borrower or whatever person as a further guarantee of or security for all or any part of
the Borrower’s obligations under the Finance Documents. 
  
 “LIBOR” means, in relation to any relevant Interest Period and any relevant Loan amount, the rate determined by the Lender to be the rate per annum at which US Dollar deposits for such period and in an amount comparable to
such Loan amount were or would be offered to the Lender by prime banks in the London interbank market at or about 11:00 a.m. (London time) on the Quotation Day for such Interest Period. 
  

 7 

 “Subsidiary” means in relation to any company, any other company or other entity which
is directly or indirectly under the control of the first-mentioned company or (whether or not so controlled) treated as a subsidiary in the financial statements of that company from time to time, and for this purpose “control” of a
company or entity means ownership of more than fifty per cent (50%) of the voting share capital or equivalent right of ownership of such company or entity or of its Holding Company or power to direct its affairs or power to control the
composition of its board of directors or equivalent body, in each case, whether by contract or otherwise; 
  
 “Tangible Net Worth” shall mean paid up capital plus reserves and subordinated loans from shareholders less goodwill, intangibles, any
upward revaluation of assets and minority interests, calculated in accordance with GAAP applied consistently with the accOounting principles and practices used in the preparation of the Original Financial Statements. 
  
 “Tax” means any tax, levy, impost, duty or other charge or
withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same). 
  
 “Tranche I Loan” means a loan made or to be made under Tranche I of the Facility or the principal amount outstanding for the time being
of that loan. 
  
 “Tranche II Loan” means a loan
made or to be made under Tranche II of the Facility or the principal amount outstanding for the time being of that loan. 
  
 “Tranche I Commitment” means the obligation of the Lender to make Tranche I Loans to one or more Borrowers in an aggregate amount not
exceeding US$15,000,000, as such amount may be modified from time to time pursuant to the terms hereof. 
  
 “Tranche II Commitment” means the obligation of the Lender to make Tranche II Loans to one or more Borrowers in an aggregate amount not
exceeding US$20,000,000, as such amount may be modified from time to time pursuant to the terms hereof. 
  
 “Total Funded Debt” means the sum, computed, as of the last day of the calendar month immediately preceding the proposed Utilisation Date
as shown in the relevant Certification Report, without duplication, of the following: (a) all amounts payable by the Borrower in respect of the principal under the Facility during such period plus (b) all amounts payable by the Borrower in
respect of interest expense under the Facility during such period plus (c) all fees, expenses, indemnity amounts and any other amounts payable to the Lender during such period pursuant to the Finance Documents plus (d) all amounts payable
by the Borrower in respect of the Financial Indebtedness of the Borrower (in each case, upon the occurrence of the payment date thereof, by acceleration or otherwise). 
  

 “U.C.C.” mean the Uniform Commercial Code, as in effect in the State of New York, as the same may be amended from time to
time. 
  
 “Unpaid Sum” means any sum due and
payable but unpaid by the Borrower under the Finance Documents. 
  
 “US Dollar(s)” or “US$” means the lawful currency for the time being of the United States of America. 
  
 “Utilisation” means a utilisation of the Facility. 
  
 “Utilisation Date” means the date of a Utilisation, being the date on which the relevant Loan is to be made
and/or being the date on which the relevant Loan is to be rollover. 
  

 8 

 “Utilisation Request” means a notice substantially in the form set out in Schedule 4
(Form of Utilisation Request). 
  
 “Withdrawal
Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
  

	1.2	 	Construction 

  

	(a)	 	Unless a contrary indication appears, any reference in this Agreement to: 

  

	 	(i)	 	the “Lender”, any “Borrower” or any “Party” shall be construed so. as to include its successors in title, permitted assigns and
permitted transferees; 

  

	 	(ii)	 	“assets” includes present and future properties, revenues and rights of every description; 

  

	 	(iii)	 	a “Finance Document” or any other agreement or instrument is a reference to that Finance Document or other agreement or instrument as amended or novated;

  

	 	(iv)	 	“indebtedness” includes any obligation (whether incurred as principal or as surety) for the payment or repayment of money, whether present or future, actual or
contingent; 

  

	 	(v)	 	a “person” includes any person, firm, company, corporation, government, state or agency of a state or any association, trust or partnership (whether or not having
separate legal personality) or two or more of the foregoing; 

  

	 	(vi)	 	a “regulation” includes any regulation, rule, official directive, request or guideline (whether or not having the force of law) of the Ministry of Finance, the Bank
of Thailand, any governmental, intergovernmental or supranational body, agency, department or regulatory, self-regulatory or other authority or organisation; 

  

	 	(vii)	 	a provision of law is a reference to that provision as amended or re-enacted; and 

  

	 	(viii)	 	a time of day is a reference to Bangkok time unless otherwise specified. 

  

	(b)	 	Section, Clause and Schedule headings are for ease of reference only. 

  

	(c)	 	Unless a contrary indication appears, a term used in any other Finance Document or in any notice given under or in connection with any Finance Document has the same meaning in that
Finance Document or notice as in this Agreement. 

  

	(d)	 	A Default (other than an Event of Default) is “continuing” if it has not been remedied or waived and an Event of Default is “continuing” if it has
not been remedied or waived. 

  

	1.3	 	Joint and Several Obligations 

  
 The obligations of each Borrower under this Agreement are joint and several to the other Borrower. The failure by either Borrower to perform its
obligations under this Agreement shall not affect the obligations of the other Borrower to perform the obligations under this Agreement in full. Each Borrower is obliged to fulfil the obligation of the other Borrower which fails to fulfil its
obligations under this Agreement. 
  

 9 

 SECTION 2 
 THE FACILITY 
  

	2.	 	THE FACILITY 

  
 Subject to the terms of this Agreement, the Lender shall make available to the Borrowers US Dollar revolving short-term loan uncommitted facilities in an
aggregate amount at any time not exceeding the Commitment. 
  

	3.	 	PURPOSE 

  

	3.1	 	Purpose 

  
 The Borrower shall apply all amounts borrowed by it under the Facility towards its general corporate requirements. 
  

	3.2	 	Monitoring 

  
 The Lender is not bound to monitor or verify the application of any amount borrowed pursuant to this Agreement. 
  

	4.	 	CONDITIONS OF UTILISATION 

  

	4.1	 	Initial conditions precedent 

  
 The Borrower may not deliver a Utilisation Request, and the Lender shall have no obligation to honor any Utilization Request, unless the Lender has
received all of the documents and other evidence listed in and appearing to comply with the requirements of Schedule 5 (Conditions precedent). 
  

	4.2	 	Further conditions precedent 

  
 The Lender may make the Facility available for utilization by the proposed Utilisation Date if: 
  

	 	(a)	 	on the date of the relevant Utilisation Request and on the proposed Utilisation Date, in the case of all Facilities: 

  

	 	(i)	 	in the case of a Rollover Loan, no Event of Default has occurred and is continuing or would result from the proposed Rollover Loan and, in the case of any other Loan, no Default has
occurred and is continuing or would result from the proposed Loan; 

  

	 	(ii)	 	in the case of a Tranche I Loan, the Bank of Nova Scotia Facility has been terminated and all amounts owed in connection therewith by the Borrowers or either of them has been
indefeasibly paid in full; 

  

	 	(iii)	 	in the case of a Tranche I Loan, the aggregate principal amount of all Tranche II Loans then outstanding is not less than seventy five per cent. (75%) of the Tranche II
Commitment; provided that this condition shall be deemed eliminated upon delivery to the Bank of evidence satisfactory to the Bank of termination of the Bank of Nova Scotia Facility and of all Security which arose from or in connection with the Bank
of Nova Scotia Facility; 

  

	 	(iv)	 	in the case of a Tranche II Loan, the amount of such Loan, when added to the aggregate amount of all other Tranche II Loans then outstanding, does not exceed eighty per cent.
(80%) of Eligible Accounts Receivable then existing; and 

  

 10 

	 	(v)	 	the representations to be made by the Borrower under Clause 16 (Representations) are true in all material respects as if made on and as of the proposed Utilization Date.

  

	 	(b)	 	prior to the proposed Utilisation Date, the Lender has received the Certification Report, and such Certification Report shall have been approved by the Lender.

  

	4.3	 	Maximum number of Loans 

  
 The Borrowers may not deliver more than ten (10) Utilisation Requests and/or Rollover Requests in any calendar month. 
  
 SECTION 3 
 UTILISATION 
  
 5.          UTILISATION 
  

	5.1	 	Delivery of a Utilization Request and Rollover Request 

  

	(a)	 	A Borrower may utilise the Facility by delivery to the Lender of a duly completed Utilisation Request not later than two (2) Business Days prior to the proposed Utilization
Date; and/or 

  

	(b)	 	A Borrower may rollover the Loan by delivery to the Lender of a duly completed Rollover Request not later than two (2) Business Days prior to the proposed Utilization Date.

  

	5.2	 	Completion of a Utilisation Request and Rollover Request 

  

	(a)	 	Each Utilisation Request and/or Rollover Request, as the case may be, is irrevocable and will not be regarded as having been duly completed unless: 

  

	 	(i)	 	the proposed Utilisation Date is a Business Day within the Availability Period; 

  

	 	(ii)	 	the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and 

  

	 	(iii)	 	the proposed Interest Period complies with Clause 9 (Interest Periods). 

  

	(b)	 	Only one Loan may be requested in each Utilisation Request and/or Rollover Request. 

  

	5.3	 	Currency and amount 

  

	(a)	 	The currency specified in a Utilisation Request must be US Dollars. 

  

	(b)	 	The amount of the proposed Loan must: 

  

	 	(i)	 	be an amount which is not more than the Available Tranche I Facility or Available Tranche II Facility, as the case may be, and which is a minimum of US$ 500,000 (and on integral
multiple of US$ 500,000) or, if less, the Available Tranche I Facility or Available Tranche II Facility; and 

  

	 	(ii)	 	be an amount which is not more than, at any one time, the maximum amount of the Facility. 

  

	5.4	 	Receipt 

  
 The Borrower shall deliver to the Lender a duly completed Receipt in respect of each Loan made, unless such Loan is a Rollover Loan, not later than 2:00
p.m. on the respective Utilization Date. 
  

 11 

	5.5	 	Promissory Notes 

  
 Not later than 10.00 a.m. on each proposed Utilisation Date, the Borrower shall deliver the Promissory Note, duly executed and affixed with stamp duty,
evidencing the proposed Loan to be drawn and/or the Rollover Loan to be rollover to the Lender. Each such Promissory Note shall specify whether it evidences a Tranche I Loan or a Tranche II Loan. 
  

	5.6	 	Utilisation Request Irrevocable 

  
 A Utilisation Request once given shall be irrevocable and the Borrower shall be bound to draw any Loan in accordance with the Utilisation Request, except
as otherwise provided in this Agreement. If for any reason such Loan is not drawn in accordance with a Utilisation Request, the Borrower shall on demand pay to the Lender compensation for any loss or expense incurred in liquidating or redeploying
funds acquired or arranged for the purpose of the proposed Loan or in terminating any such arrangement or any hedging arrangement in respect of this Agreement or otherwise as a consequence of the proposed Loan not having been drawn in accordance
with the Utilisation Request. 
  
 SECTION 4 
 REPAYMENT AND PREPAYMENT 
  
 6.          REPAYMENT 
  

	6.1	 	Repayment 

  
 Each Borrower which has drawn a Loan shall repay that Loan on the last day of its Interest Period. 
  

	6.2	 	Reborrowing 

  
 Unless a contrary indication appears in this Agreement, any part of the Facility which is repaid may be reborrowed in accordance with the terms of this
Agreement. 
  
 7.          PREPAYMENT 
  

	7.1	 	Illegality 

  
 If it becomes unlawful in any applicable jurisdiction for the Lender to perform any of its obligations as contemplated by this Agreement or to fund or
maintain any Loan: 
  

	 	(a)	 	the Lender shall promptly notify the Borrowers upon becoming aware of that event; 

  

	 	(b)	 	upon the Lender notifying the Borrower,- the Facility will be immediately cancelled; and 

  

	 	(c)	 	the Borrower shall prepay the Loans on the last day of the Interest Period for each Loan occurring after the Lender has notified the Borrower or, if earlier, the date specified by
the Lender in the notice delivered to the Borrower (being no earlier than the last day of any applicable grace period permitted by law). 

  

	7.2	 	Voluntary cancellation 

  
 The Borrowers may, if they give the Lender not less than five (5) Business Days’ (or such shorter period as the Lender may agree) prior notice,
cancel the whole or any part (being a minimum amount of US$500,000) of the Available Tranche I Facility or the Available Tranche II Facility. 
  

 12 

	7.3	 	Voluntary prepayment of Loans 

  
 Each Borrower which has drawn a Loan may, if it gives the Lender not less than five (5) Business Days’ (or such shorter period as the Lender may
agree) prior notice, prepay the whole or any part of any Loan (but, if in part, being an amount that reduces the amount of the Loan by a minimum amount of US$ 1 million); provided that if any such prepayment is made on a day other than the last day
of an Interest Period with respect to such Loan, it shall be accompanied by Break Costs as calculated by the Lender. 
  
 SECTION 5 
 COSTS OF UTILISATION 
  
 8.          INTEREST 
  

	8.1	 	Calculation of interest 

  
 The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable: 
  

	 	(a)	 	Margin; and 

  

	 	(b)	 	LIBOR. 

  

	8.2	 	Payment of interest 

  
 The Borrower to which a Loan has been made shall pay accrued interest on that Loan on the last day of each Interest Period. 
  

	8.3	 	Default interest 

  
 If there is an Event of Default, interest shall accrue on all outstanding Loans from the date of the relevant Event of Default up to the date such Event
of Default is cured by the Borrower, waived in accordance with this Agreement or such Unpaid Sums have been paid in full, whichever is earliest, at the Default Interest Rate. Any interest accruing under this Clause 8.3 shall be payable on demand by
the Lender or, if not demanded, on the last Business Day of each consecutive calendar month. 
  

	8.4	 	Notification of rates of interest 

  
 The Lender shall promptly notify the relevant Borrower of the determination of a rate of interest under this Agreement 
  
 9.          INTEREST PERIODS

  

	9.1	 	Calculation of Interest Period 

  
 The Interest Period for a Loan shall be one, two, three or six months, as specified by the respective Borrower in the relevant Utilization Request. The
first Interest Period for any Loan shall commence on the Utilization Date of the respective Loan; provided that no Interest Period may end after the last day of the respective Availability Period; and provided further that if any Interest Period
would end on a day which is not a Business Day, then such Interest Period shall continue until the next succeeding Business Day (and interest shall continue to accrue during such additional period), unless such next succeeding Business Day
would be in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day. 
  

 13 

 10.        CHANGES TO THE CALCULATION OF INTEREST 
  

	10.1	 	Market disruption 

  

	(a)	 	If a Market Disruption Event occurs in relation to a Loan for any Interest Period, then the interest rate of that Loan for the Interest Period shall be the rate per annum which is
the sum of: 

  

	 	(i)	 	the Margin; and 

  

	 	(ii)	 	the rate notified to the Borrower by the Lender as soon as practicable and in any event before interest is due to be paid in respect of that Interest Period, to be that which
expresses as a percentage rate per annum the cost to the Lender of funding its participation in that Loan from whatever source it may reasonably select. 

  

	(b)	 	In this Agreement “Market Disruption Event” means if in relation to any proposed Loan, the Lender determines (which determination shall be conclusive and binding)
that: 

  

	 	(i)	 	by reason of circumstances affecting the London interbank market generally, adequate and fair means do not exist for ascertaining LEBOR for the relevant Interest Period;

  

	 	(ii)	 	deposits in US Dollars in the .amount required for the relevant Interest Period are not available to the Lender in the Singapore interbank market; or 

  

	 	(iii)	 	before close of business in Bangkok and/or Singapore on the Quotation Day for the relevant Interest Period, the Borrowers receive notifications from the Lender that the cost to it
of obtaining matching deposits in the Singapore interbank market would be in excess of LIBOR. 

  

	10.2	 	Alternative basis of interest or funding 

  

	(a)	 	If a Market Disruption Event occurs and the Lender or the Borrower to which a Loan has been made so requires, the Lender and that Borrower shall enter into negotiations (for a
period of not more than thirty (30) days) with a view to agreeing a substitute basis for determining the rate of interest. 

  

	(b)	 	Any alternative basis agreed pursuant to paragraph (a) above shall, with the prior consent of the Lender and the Borrowers, be binding on all Parties. 

 

	10.3	 	Break Costs 

  

	(a)	 	The Borrowers shall, within three (3) Business Days of demand by the Lender, pay to the Lender its Break Costs attributable to all or any part of a Loan or Unpaid Sum being
paid by that Borrower on a day other than the last day of an Interest Period for that Loan or Unpaid Sum. 

  

	(b)	 	The Lender shall, as soon as reasonably practicable, provide a certificate confirming the amount of its Break Costs for any Interest Period in which they accrue to the Borrower.

  
 11.        COMMITMENT
AND FACILITY FEES 
  

	11.1	 	Commitment Fee 

  
 The Borrowers jointly and severally agree to pay to the Lender a Commitment Fee calculated at the rate of three tenths of one per cent (0.30%) per annum
and the average daily Available Facility, such Commitment Fee to be paid on the last Business Day of each consecutive calendar quarter. 
  

 14 

	11.2	 	Advisory Fee 

  
 The Borrowers shall, within seven (7) Business Days of the date of this Agreement, pay to the Lender at its Bangkok branch a non-refundable advisory
fee in the amount of US$262,500.00 on the date of this Agreement. 
  
 SECTION 6 
 ADDITIONAL PAYMENT OBLIGATIONS 
  
 12.        TAX GROSS UP AND INDEMNITIES 
  

	12.1	 	Definitions 

  

	(a)	 	In this Clause 12: 

  
 “Tax Deduction” means a deduction or withholding for or on account of Tax from a payment under a Finance Document. 
  
 “Tax Payment” means an increased payment made by any
Borrower to the Lender under Clause 12.2 (Tax gross-up) or a payment under Clause 12.3 (Tax indemnity). 
  

	(b)	 	Unless a contrary indication appears, in this Clause 12 a reference to “determines” or “determined” means a determination made in the absolute discretion of the
person making the determination. 

  

	12.2	 	Tax gross-up 

  

	(a)	 	All payments to be made by any Borrower to the Lender under the Finance Documents shall be made free and clear of and without any Tax Deduction unless such Borrower is required to
make a Tax Deduction, in which case the sum payable by such Borrower (in respect of which such Tax Deduction is required to be made) shall be increased to the extent necessary to ensure that the Lender receives a sum net of any deduction or
withholding equal to the sum which it would have received had no such deduction or withholding been made or required to be made. 

  

	(b)	 	Each Borrower shall promptly upon becoming aware that any of them must make a Tax Deduction (or that there is any change in the rate or the basis of a Tax Deduction) notify the
Lender accordingly. 

  

	(c)	 	If any Borrower is required to make a Tax Deduction, that Borrower shall make that Tax Deduction and any payment required in connection with that Tax Deduction within the time
allowed and in the minimum amount required by law. 

  

	(d)	 	Within thirty (30) days of making either a Tax Deduction or any payment required in connection with that Tax Deduction, the Borrower making that Tax Deduction shall deliver to
the Lender evidence reasonably satisfactory to the Lender that the Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority. 

  

	12.3	 	Tax indemnity 

  

	(a)	 	 Without prejudice to Clause 12.2 (Tax gross-up), if the Lender is required to make any payment of or on account of Tax on or in relation to any sum received
or receivable under the Finance Documents (including any sum deemed for purposes of Tax to be received or receivable by the Lender whether or not actually received or receivable) or if any liability in respect of any such payment is asserted,
imposed, levied or assessed against the Lender, each Borrower shall, within three (3) Business Days of demand of the Lender, promptly indemnify the Lender which suffers a loss or liability as a result against such payment or liability, together
with any interest, penalties, costs and expenses payable or incurred in connection therewith, provided that this 

  

 15 

	 	 
Clause 12.3 shall not apply to any Tax imposed on and calculated by reference to the net income actually received or receivable by the Lender (but, for the
avoidance of doubt, not including any sum deemed for purposes of Tax to be received or receivable by the Lender but not actually receivable) by the jurisdiction in which the Lender is incorporated. 

  

	(b)	 	If the Lender obtains fund from outside Thailand and is required by law to make any deduction or withholding from interest and fees which are payable to its source of funds, the
Borrowers shall reimburse the Lender an amount certified by the Lender to be equal to such amount the Lender is required to pay or had paid to the relevant governmental agency so that it source of fund receives the full amount of interest and fees
which it would have received if no such deduction or withholding had been made. 

  

	(c)	 	The Lender intending to make a claim under paragraph (a) and (b) shall notify the Borrowers of the event giving rise to the claim. 

  
 13.        INCREASED COSTS 
  

	(a)	 	Each Borrower shall, within three (3) Business Days of a demand by the Lender, pay the Lender the amount of any Increased Costs incurred by the Lender as a result of
(i) the introduction of or any change in (or in the interpretation, administration or application pf) any law or regulation or (ii) compliance with any law or regulation made after the date of this Agreement. The terms “law” and
“regulation” in this paragraph (a) shall include, without limitation, any law or regulation concerning capital adequacy, prudential limits, liquidity, reserve assets or Tax. 

  

	(b)	 	In this Agreement “Increased Costs” means: 

  

	 	(i)	 	a reduction in the rate of return from the Facility or on the Lender’s overall capital (including, without limitation, as a result of any reduction in the rate of return on
capital brought about by more capital being required to be allocated by such the Lender); 

  

	 	(ii)	 	an additional or increased cost; or 

  

	 	(iii)	 	a reduction of any amount due and payable under any Finance Document, 

  
 which is incurred or suffered by the Lender to the extent that it is attributable to the Lender having made the Facility available or funding or
performing its obligations under any Finance Document. 
  
 14.        OTHER INDEMNITIES 
  
 Each Borrower shall, within three (3) Business Days of demand, indemnify the Lender against any cost, loss or liability incurred by the Lender as a result of: 
  

	 	(a)	 	the occurrence of any Event of Default; 

  

	 	(b)	 	the information produced or approved by any Borrower being misleading and/or deceptive in any respect; 

  

	 	(c)	 	any enquiry, investigation, subpoena (or similar order) or litigation with respect to the Borrower or with respect to the transactions contemplated or financed under this Agreement;

  

	 	(d)	 	a failure by any Borrower to pay any amount due under a Finance Document on its due date; 

  

 16 

	 	(e)	 	funding a Loan requested by any Borrower in a Utilisation Request but not made by reason of the operation of any one or more of the provisions of this Agreement (other than by
reason of default or negligence by the Lender alone); 

  

	 	(f)	 	any Environmental Liability; or 

  

	 	(g)	 	a Loan (or part of a Loan) not being prepaid in accordance with a notice of prepayment given by the Borrower. 

  
 15.        COSTS AND EXPENSES 
  

	15.1	 	Transaction expenses 

  
 The Borrowers shall, within three (3) Business Days of demand, pay the Lender, the amount of all costs and expenses (including legal fees)-reasonably
incurred by it in connection with the negotiation, preparation, printing and execution of: 
  

	 	(a)	 	this Agreement and any other documents referred to in this Agreement; and 

  

	 	(b)	 	any other Finance Documents executed after the date of this Agreement. 

  

	15.2	 	Amendment costs 

  
 If the Borrowers request an amendment, waiver or consent in connection with any Finance Document, the Borrowers shall, within three (3) Business Days
of demand, reimburse the Lender for the amount of all costs and expenses (including attorneys’ fees) reasonably incurred by the Lender in responding to, evaluating, negotiating or complying with that request or requirement. 
  

	15.3	 	Enforcement costs 

  
 The Borrowers shall, within three (3) Business Days of demand, pay to the Lender the amount of all costs and expenses (including legal fees) incurred
by the Lender in connection with the enforcement of, or the preservation of any rights under, any Finance Document. 
  
 SECTION 7 
 REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF DEFAULT 

 
 16.        REPRESENTATIONS 
  
 Each Borrower makes the representations and warranties set out in this Clause
16 (Representations) to the Lender on the date of this Agreement. 
  

	16.1	 	Status 

  
 (a)    (i)      In relation to Fabrinet Co, it is a limited liability company, duly
incorporated and validly existing under the laws of the Kingdom of Thailand; and 
  

	 	(ii)	 	In relation to Fabrinet, it is an exempted company, duly formed under the laws of Cayman Islands. 

  

	(b)	 	It and each of its Subsidiaries has the power to own its assets and carry on its business as it is being conducted. 

  

	16.2	 	Binding obligations 

  
 Each Finance Document to which it is a party constitutes its legal, valid and binding obligation enforceable against it in accordance with its respective
terms subject to applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally. 
  

 17 

	16.3	 	Non-conflict with other obligations 

  
 The entry into and performance by it of, and the transactions contemplated by, the Finance Documents do not and will not conflict with: 
  

	 	(a)	 	any law or regulation applicable to it; 

  

	 	(b)	 	its and each of its Subsidiaries’ constitutional documents; or 

  

	 	(c)	 	any agreement or instrument binding upon it or any of its Subsidiaries or any of its or any of its Subsidiaries’ assets. 

  

	16.4	 	Power and authority 

  
 It has the power to enter into, perform and deliver, and has taken all necessary action to authorise its entry into, performance and delivery of, the
Finance Documents to which it is a party and the transactions contemplated by those Finance Documents. 
  

	16.5	 	Validity and admissibility in evidence 

  
 All Authorisations required or desirable: 
  

	 	(a)	 	to enable it lawfully to enter into, exercise its rights and comply with its obligations in the Finance Documents to which it is a party; 

  

	 	(b)	 	to make the Finance Documents to which it is a party admissible in evidence in its jurisdiction of incorporation; and 

  

	 	(c)	 	for it to carry on their business, and which are material, 

  
 have been obtained or effected and are in full force and effect, except that a Thai translation of Finance Documents will be required and the Financing
Documents will need to have affixed thereto the applicable stamp duties to be admissible in legal proceedings in the Thai Courts. 
  

	16.6	 	Stamp duties 

  
 No stamp or registration duty or similar taxes or charges are payable in any relevant jurisdiction in respect of any Finance Document to which the
Borrower is a party other than: 
  

	 	(a)	 	stamp duty of Baht 10,000 payable on an executed copy of this Agreement (and a stamp duty of Baht 5 for each additional copy hereof), such stamp duty must be paid within fifteen
(15) days of execution of the relevant document if executed in Thailand or within thirty (30) days of the original being taken into Thailand if the relevant document is executed outside Thailand; and 

  

	 	(b)	 	stamp duty of CI$0.25 per CI$100 or part thereof of the face value of each executed Promissory Note, subject to a maximum of CI$250, payable on an executed Promissory Note if such
Promissory Note is executed in, brought into the Cayman Islands or produced before a court of the Cayman Islands, such stamp duty must be paid within forty five (45) days of execution of the relevant Promissory Note if executed in the Cayman
Islands or within forty five (45) days of the original being taken into the Cayman Islands if the relevant Promissory Note is executed outside the Cayman Islands. 

  

	16.7	 	No default 

  

	(a)	 	No Default is continuing or might reasonably be expected to result from the making of any Utilisation. 

  

 18 

	(b)	 	No other event or circumstance is outstanding which constitutes a default under any other agreement or instrument which is binding on it or any of its Subsidiaries or to which its
(or its Subsidiaries’) assets are subject which might have a Material Adverse Effect. 

  

	16.8	 	No misleading information 

  

	(a)	 	Any factual information provided by the Borrowers was true and accurate in all material respects as at the date it was provided or as at the date (if any) at which it is stated.

  

	(b)	 	Any financial projections provided by the Borrowers have been prepared on the basis of recent historical information and on the basis of reasonable assumptions.

  

	(c)	 	Nothing has occurred and no information has been given or withheld that results in the information provided by the Borrowers being untrue or misleading in any material respect.

  

	16.9	 	Financial statements 

  

	(a)	 	Its Original Financial Statements were prepared in accordance with GAAP consistently applied save to the extent expressly disclosed in such Original Financial Statements.

  

	(b)	 	Its Original Financial Statements give a true and fair view and represent its financial condition and operations (consolidated in the case of the Borrower) during the relevant
financial year save to the extent expressly disclosed in such Original Financial Statements. 

  

	(c)	 	There has been no material adverse change in its business or financial condition (or the business or consolidated financial condition of the Borrowers) since the date of the
Original Financial Statements. 

  

	16.10	 	Pari passu ranking 

  
 Its payment obligations under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors,
except for obligations mandatorily preferred by law applying to companies generally. 
  

	16.11	 	No proceedings pending or threatened 

  
 No litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency which, if adversely determined, might reasonably
be expected to have a Material Adverse Effect have (to the best of its knowledge and belief) been started or threatened against it or any of its Subsidiaries. 
  

	16.12	 	Authorised Signatures 

  
 Any person specified as its authorised signatory under Schedule 5 (Conditions precedent) or Clause 17.3(d) (Information: miscellaneous) is
authorised to sign Utilisation Requests and other notices on its behalf. 
  

	16.13	 	Repetition 

  
 All representations given by each Borrower under this Clause 16 are deemed to be made by each Borrower by reference to the facts and circumstances then
existing on the date of each Utilisation Request, each Utilisation Date and the first day of each Interest Period. 
  
 16.14 ERISA 
  
 No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is
reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect. The present value of all 

  

 19 

 
accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did
not, as of the date of the most recent financial statements reflecting such amounts, exceed by more than $1,000,000 the fair market value of the assets of such Plan, and the present value of all accumulated benefit obligations of all underfunded
Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such amounts, exceed by more than $1,000,000 the fair market
value of the assets of all such underfunded Plans. 
  

	16.15	 	Environmental Matters 

  
 Except with respect to any matters that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect,
neither Borrower (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability,
(iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental Liability. 
  

	17.	 	INFORMATION UNDERTAKINGS 

  
 The undertakings in this Clause 16.14 remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents
or any Commitment is in force. 
  

	17.1	 	Financial statements 

  
 Each Borrower shall supply to the Lender: 
  

	 	(a)	 	as soon as the same become available, but in any event within 120 (one hundred and twenty) days after the end of each of its financial years its audited consolidated financial
statements for that financial year: 

  

	 	(b)	 	as soon as the same become available, but in any event within sixty (60) days after the end of each of the first three quarters of each of its financial years its consolidated
financial statements (including statements of income, cash flow statements and balance sheets) for that quarter of such financial year, which shall be in form and substance satisfactory to the Lender. 

  

	17.2	 	Requirements as to financial statements 

  

	(a)	 	Each set of financial statements delivered by the Borrower pursuant to Clause 17.1 (Financial statements) shall be certified by a director of the relevant Borrower as fairly
representing its financial condition as at the date as at which those financial statements were drawn up. 

  

	(b)	 	Each set of financial statements delivered by the Borrowers pursuant to Clause 17.1(a) shall be certified, without material except, by independent public accountants of recognized
standing selected by the Borrowers and satisfactory to the Lender. 

  

 20 

	(c)	 	Each Borrower shall procure that each set of financial statements delivered pursuant to Clause 17.1 (Financial statements) is prepared using the applicable GAAP, accounting
practices and financial reference periods consistent with those applied in the preparation of the Original Financial Statements for the Borrower unless, in relation to any set of financial statements, it notifies the Lender that there has been a
change in applicable GAAP, the accounting practices or reference periods and its auditors (or, if appropriate, the auditors of the Borrower) deliver to the Lender: 

  

	 	(i)	 	a description of any change necessary for those financial statements to reflect the applicable GAAP, accounting practices and reference periods upon which ‘the Borrower’s
Original Financial Statements were prepared; and 

  

	 	(ii)	 	sufficient information, in form and substance as may be reasonably required by the Lender, to enable the Lenders to make an accurate comparison between the financial position
indicated in those financial statements and ‘the Borrower’s Original Financial Statements. 

  
 Any reference in this Agreement to those financial statements shall be construed as a reference to those financial statements as adjusted to reflect the
basis upon which the Original Financial Statements were prepared. 
  

	(d)	 	Each set of financial statements delivered by the Borrowers pursuant to Clauses 17.1(a) and 17.1(b) shall a compliance certificate, duly executed by the chief financial officer of
the respective Borrower, to substantially the effect set forth in Schedule 7 hereto. 

  

	17.3	 	Information: miscellaneous 

  

	 	Each	 	Borrower shall supply to the Lender: 

  

	 	 (a)
	 	 Not later than the 15th
day of each consecutive calendar month a report, in reasonable detail and in form and substance satisfactory to the Lender, of the Eligible Accounts Receivable of such Borrower as of the last Business Day of the immediately preceding calendar month;

  

	 	(b)	 	promptly upon becoming aware of them, the details of any litigation, arbitration or administrative proceedings which are current, threatened or pending against the Borrower, and
which might, if adversely determined, have a Material Adverse Effect; 

  

	 	(c)	 	promptly, such further information regarding the financial condition, business and operations of the Borrower as the Lender may reasonably request; 

  

	 	(d)	 	promptly, notice of any change in authorised signatories of any Borrower signed by a director or Borrower secretary of such Borrower accompanied by specimen signatures of any new
authorised signatories; 

  

	 	(e)	 	promptly upon the request of the Lender, the Sale and Purchase Agreement together with all relevant invoice dispatched to the Relevant Customer (including any amendment or
supplemental to such Sale and Purchase Agreement); 

  

	 	(f)	 	promptly upon the request of the Lender, notice of any sale to the new Relevant Customer together with the details and the relevant copy of the Sale and Purchase Agreement;

  

	 	(g)	 	promptly upon the request of the Lender, the confirmation signed by a director or Borrower secretary of such Borrower confirming that the terms and conditions of the Sale and
Purchase Agreement are unchanged; and 

  

 21 

	 	(h)	 	details of any security or guarantees that the each Borrower provides or has provided to any other lender, creditor or contractor. 

  

	17.4	 	Notification of default 

  

	(a)	 	Each Borrower shall notify the Lender of any Default (and the steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence and in any event within five
(5) Business Days of gaining actual knowledge thereof. 

  

	(b)	 	Promptly upon a request by the Lender, each Borrower shall supply to the Lender a certificate signed by two of its directors or senior officers on its behalf certifying that no
Default is continuing (or if a Default is continuing, specifying the Default and the steps, if any, being taken to remedy it). 

  

	18.	 	GENERAL UNDERTAKINGS 

  
 The undertakings in this Clause 18 remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents or
any Commitment is in force. 
  

	18.1	 	Authorisations 

  

	 	Each	 	Borrower shall promptly: 

  

	 	(a)	 	obtain, comply with and do all that is necessary to maintain in full force and effect; and 

  

	 	(b)	 	supply certified copies to the Lender of, 

  
 any Authorisation required to enable it to perform its obligations under the Finance Documents and to ensure the legality, validity, enforceability or
admissibility in evidence in its jurisdiction of incorporation of any Finance Document. 
  

	18.2	 	Compliance with laws 

  
 Each Borrower shall comply in all respects with all laws to which it may be subject, if failure so to comply would materially impair its ability to
perform its obligations under the Finance Documents. 
  

	18.3	 	Change of business 

  
 Each Borrower shall procure that no substantial change is made to the general nature of its business from that carried on at the date of this Agreement.

  

	18.4	 	Change of Management 

  
 Each Borrower shall maintain a management position of Mr. David T. Mitchell with the Borrower at all times, and his authority shall not be
reduced with respect to either Borrower from its current level. 
  

	18.5	 	Shareholding Percentage 

  
 With respect to Fabrinet only, Fabrinet shall maintain, direct or indirect shareholding in Fabrinet Co at all times not less than 90% of total share
capital in Fabrinet Co; 
  

	18.6	 	Filing of Financing Statements 

  
 Fabrinet shall ensure that the Assignment and Security Agreement and the Security created thereby, if appropriate under the applicable law, has been
registered with each relevant Governmental Agency. 
  

 22 

	18.7	 	Delivery of Notice 

  
 If Fabrinet makes any additional sales in the United States of America to any new customer, Fabrinet shall promptly deliver a notification, as required to
be issued to such new customer pursuant to the terms of the Assignment and Security Agreement, to the Lender. 
  

	18.8	 	Security 

  
 The Borrowers agree that they shall not, and shall not permit any Subsidiary to, create, assume, incur or suffer to exist any Security on any asset now
owned or hereafter acquired by either of them, except for the following (the “Permitted Security”): 
  
 (a) Security existing on the date hereof, which are reflected in the Original Financial Statements; and renewals, extensions and
continuations thereof, provided that such renewals, extensions and continuations shall not (i) increase the Financial Indebtedness, secured thereby, or (ii) extend the coverage thereof beyond the original coverage of such Security.

  
 (b) Security for taxes, assessments or
other governmental charges not yet delinquent or being contested in good faith and by appropriate proceedings; Security in connection with workers’ compensation, unemployment insurance or other social security obligations; Security securing the
performance of bids, tenders, contracts, surety and appeal bonds; Security to secure progress or partial payments and other Liens of like nature arising in the ordinary course of business; mechanics’, workmen’s, materialmen’s or other
like Security arising in the ordinary course of business in respect of obligations which are not yet due or which are being contested in good faith; and other Security arising in the ordinary course of business and incidental to the conduct of the
business of the Borrowers or such Subsidiary or to the ownership of its properties or assets, which were not incurred in connection with the borrowing of money and which do not materially detract from the value of the properties or assets of either
Borrower or materially affect the use thereof in the operation of its business; and 
  
 (c) Security in respect of judgments and awards to the extent that such judgments or awards are being contested in good faith and
adequate insurance or appropriate reserves are maintained with respect thereto on the books of the respective Borrower to the extent required by GAAP and so long as execution is not levied thereunder. 
  
 (d) Security on property acquired after the date
hereof which Security existed when such property was acquired, and extensions and renewals of such Security; provided that no such extension or renewal shall increase the aggregate amount of Financial Indebtedness secured thereby, nor add to the
property subject to such Security. 
  
 (e) any
Security on any asset securing Financial Indebtedness incurred or assumed for the purpose of financing all or any part of the cost of acquiring or improving such asset; provided that such Security attaches to such asset concurrently with or
within 120 days after the acquisition or completion of improvements thereof; 
  
 (f) Zoning restrictions, easements, licenses, reservations, provisions, covenants, conditions, waivers, restrictions on the use of property or minor irregularities of title which do not in the aggregate materially
detract from the value of its property or assets or materially impair the use thereof in the operation of its business. 
  
 (g) Security on the property of any Subsidiary in favor of either Borrower or any Subsidiary 
  
  

 23 

 (h) Security in favor of the Bank of Nova Scotia securing Financial Indebtedness not in
excess of US$20,000,000, provided that Security permitted under this clause (h) shall no longer be permitted on or after January 1, 2007; 
  
 (i) Security existing pursuant to: 
  
 (i) EXTM pledged equipment loan of US$4M dated 4 March 2005 
  
 (ii) EXIM pledged equipment loan of US$4M dated 25 September 2006 
  
 (iii) TMB pledged equipment loan of USS2M dated 18 July
2003 
  
 (iv) TMB Pinehurst mortgaged land and
building loan of US$6M dated 4 March 2004 
  
 (v) TMB Pinehurst mortgaged new building loan of US$8M dated 6 June 2005 
  
 (vi) IFC pledged equipment loan of US$3M dated 22 December 2003 
  
 as such loans are presently in effect or as they may be amended with the prior written consent of the Lender; 
  
 (j) Other Security incurred by either Borrower in the
ordinary course of its business, provided that the aggregate amount of Indebtedness secured by all Security permitted by this clause (j) shall not exceed US$5,000,000 in the aggregate. 
  

	18.9	 	Debt to Equity Ratio 

  
 The Borrowers shall not at any time allow the ratio of their combined aggregate Interest Bearing Debts to their combined aggregate Tangible Net Worth to
exceed 1.00 to 1.00. 
  

	18.10	 	Net Debt to EB1TDA Ratio 

  
 The Borrowers shall not, at any time allow the ratio of their combined aggregate Net Interest Bearing Debts to EBITDA to exceed 2:00 to 1:00. As used
herein, Net Interest Bearing Debt” shall mean Interest Bearing Debt less cash and Cash Equivalents. 
  

	18.11	 	Initial Drawdown and Perfection of the Bank’s Security Interest 

  
 Initial drawdown to the extent of US$10,000,000 can be permitted without registration of charge over eligible receivables. However, the Borrowers shall,
within forty five (45) days of the date of this Agreement, take all such steps and file all such statements, instruments, documents or other paper filings or recordings as my be necessary or appropriate in order to create, preserve, perfect or
validate any lien or security interest granted by the Assignment and Security Agreement, or to enable the Secured Party to exercise or enforce its rights with respect to such lien or security interest 
  

	19.	 	EVENTS OF DEFAULT 

  
 Each of the events or circumstances set out in Clause 19 is an Event of Default. 
  

	19.1	 	Non-payment 

  
 Any Borrower does not pay on the due date any amount payable pursuant to a Finance Document at the place at and in the currency in which it is expressed
to be payable. 
  

	19.2	 	Other obligations 

  

	(a)	 	Either Borrower defaults in the due performance or observance of Sections 17.4(a), 18.5, 18.8, 18.9 or 18.10 to the extent applicable to such Borrower 

  
  

 24 

	(b)	 	Any Borrower does not comply with any other provision of the Finance Documents (other than those referred to in Clause 19.1 (Non-payment) and 19.2(a).

  

	(c)	 	No Event of Default under paragraph (b) above will occur if, in the opinion of the Lender, the failure to comply is capable of remedy and is remedied to the Lender’s
satisfaction within thirty (30) Business Days (or such longer period as the Lender may approve) of the Lender giving notice to any Borrower or any Borrower becoming aware of the failure to comply. 

  

	19.3	 	Misrepresentation 

  
 Any representation or statement made or deemed to be made by the Borrower in the Finance Documents or any other document delivered by or on behalf of the
Borrower under or in connection with any Finance Document is or proves to have been incorrect or misleading in any material respect when made or deemed to be made. 
  

	19.4	 	Cross default 

  

	(a)	 	Any Financial Indebtedness of any Borrower is not paid when due nor within any originally applicable grace period. 

  

	(b)	 	Any Financial Indebtedness of any Borrower is declared to be or otherwise becomes due and payable prior to its specified maturity as a result of an event of default (however
described). 

  

	(c)	 	Any commitment for any Financial Indebtedness of any Borrower is cancelled or suspended by a creditor of such Borrower as a result of an event of default (however described).

  

	(d)	 	Any creditor of any Borrower becomes entitled to declare any Financial Indebtedness of such Borrower due and payable prior to its specified maturity as a result of an event of
default (however described). 

  

	(e)	 	No Event of Default will occur under this Clause 19.4 if the aggregate amount of Financial Indebtedness or commitment for Financial Indebtedness falling within paragraphs
(a) to (d) above is less than US$ 1,000,000 (or its equivalent in any other currency or currencies). 

  

	19.5	 	Insolvency 

  

	(a)	 	Any Borrower is or is presumed or deemed to be unable or admits inability to pay its debts as they fall due, suspends making payments on any of its debts or, by reason of actual or
anticipated financial difficulties, commences negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness. 

  

	(b)	 	The value of the assets of any Borrower is less than its liabilities (taking into account contingent and prospective liabilities). 

  

	(c)	 	A moratorium is declared in respect of any indebtedness of any Borrower. 

  

	19.6	 	Insolvency proceedings 

  
 Any corporate action, legal proceedings or other procedure or step is taken in relation to: 
  

	 	(a)	 	the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution, administration, provisional supervision or reorganisation (by way of voluntary arrangement,
scheme of arrangement or otherwise) of any Borrower; 

  

	 	(b)	 	a composition, assignment or arrangement with any creditor of any Borrower; 

  

 

 25 

	 	(c)	 	the appointment of a liquidator, receiver, administrator, administrative receiver, compulsory manager, provisional supervisor or other similar officer in respect of any Borrower or
any of its assets; or 

  

	 	(d)	 	enforcement of any Security over any assets of any Borrower, 

  
 or any analogous procedure or step is taken in any jurisdiction. 
  

	19.7	 	Creditors’ process 

  
 Any expropriation, attachment, sequestration, distress or execution affects any asset or assets of any Borrower having an aggregate value of US$ 1,000,000
and is not discharged within five (5) days. 
  

	19.8	 	Unlawfulness 

  
 It is or becomes unlawful for any Borrower to perform any of its obligations under the Finance Documents. 
  

	19.9	 	Repudiation 

  
 Any Borrower repudiates a Finance Document or evidences an intention to repudiate a Finance Document. 
  

	19.10	 	Security Documents 

  
 Any Security Document or any Security over any asset or right expressed to be secured thereby for any reason: 
  

	 	(a)	 	ceases to constitute a valid first priority Security in the relevant asset or right; or 

  

	 	(b)	 	ceases to be in full force and effect; or 

  

	 	(c)	 	becomes void or unenforceable in whole or in part. 

  

	19.11	 	Material adverse change 

  
 Any event or circumstance occurs, including, without limitation, an ERISA Event, which (whether alone or in conjunction with other events or
circumstances) the Lender reasonably determines might have a Material Adverse Effect. 
  

	19.12	 	Remedies upon Default 

  
 On and at any time after the occurrence of an Event of Default which is continuing the Lender may by notice to the Borrower: 
  

	 	(a)	 	cancel the Facility whereupon it shall immediately be cancelled; 

  

	 	(b)	 	declare that all or part of the Loans, together with accrued interest, and all other amounts accrued or outstanding under the Finance Documents be immediately due and payable,
whereupon they shall become immediately due and payable; 

  

	 	(c)	 	declare that all or part of the Loans be payable on demand, whereupon they shall immediately become payable on demand by the Lender; and/or 

  

	 	(d)	 	enforce all or part of the Security Documents. 

  

 26 

 SECTION 8 
 CHANGES TO PARTIES 
  

	20.	 	CHANGES TO THE LENDERS 

  

	20.1	 	Assignments and transfers by the Lenders 

  
 The Lender may: 
  

	 	(a)	 	assign any of its rights; or 

  

	 	(b)	 	transfer by novation any of its rights and obligations, 

  

	 	(i)	 	(ii) under the Finance Documents to another bank or financial institution or other entity which is regularly engaged in or established for the purpose of making, purchasing or
investing in loans, securities or other financial assets. 

  
 The Borrowers shall execute and do all such transfers, assignments, assurances, acts and things as the Lender may require for perfecting and completing any such assignment of rights or transfer by novation of rights and obligations.

  

	20.2	 	Disclosure of information 

  
 The Lender may disclose to any of its Affiliates, credit bureau or credit agency and any other person: 
  

	 	(i)	 	to (or through) whom that Lender assigns or transfers (or may potentially assign or transfer) all or any of its rights and obligations under this Agreement;

  

	 	(ii)	 	with (or through) whom that Lender enters into (or may potentially enter into) any sub-participation in relation to, or any other transaction under which payments are to be made by
reference to, this Agreement or the Borrowers; or 

  

	 	(iii)	 	to whom, and to the extent that, information is required to be disclosed by any applicable law or regulation, 

  
 any information about the Borrowers and the Finance Documents as that Lender
shall consider appropriate. 
  

	20.3	 	Security Unaffected 

  
 The obligations under, and the security created by, the Security Documents shall continue in full force and effect and are not and will not be prejudiced,
affected or discharged by the assignment of rights or transfer by novation any of rights and obligations of the existing Lender in favour of the new Lender. 
  

	21.	 	CHANGES TO THE BORROWER 

  
 The Borrower may not assign any of its rights or transfer any of its rights or obligations under the Finance Documents. 
  

 27 

 SECTION 9 
 ADMINISTRATION 
  

	  22.	 	PAYMENT MECHANICS 

  

	22.1	 	Payment by the Borrower 

  
 No later than 10:00 a.m. on each day on which the Borrower is required to make a payment under a Finance Document, the Borrower shall transfer the
relevant funds to the account of the Lender via electronic transfer. 
  

	22.2	 	Distributions to the Borrower 

  
 The Lender may (with the consent of the Borrower or in accordance with Clause 23 (Set-off)) apply any amount received by it for the Borrower in or
towards payment (on the date and in the currency and funds of receipt) of any amount due from the Borrower under the Finance Documents or in or towards purchase of any amount of any currency to be so applied. 
  

	22.3	 	Partial payments 

  

	(a)	 	If the Lender receives a payment that is insufficient to discharge all the amounts then due and payable by the Borrowers under the Finance Documents, the Lender shall apply that
payment towards the obligations of the Borrower under the Finance Documents in the following order: 

  

	 	(i)	 	first, in or towards payment of any unpaid fees, costs and expenses of the Lender under the Finance Documents; 

  

	 	(ii)	 	secondly, in or towards payment of any accrued interest, fees (other than as provided in (i) above) or commission due but unpaid under this Agreement;

  

	 	(iii)	 	thirdly, in or towards payment of any principal due but unpaid under this Agreement; and 

  

	 	(iv)	 	fourthly, in or towards payment of any other sum due but unpaid under the Finance Documents. 

  

	(b)	 	The Lender may vary the order set out in paragraphs (a)(ii) to (iv) above in its discretion. 

  

	(c)	 	Paragraphs (a) and (b) above will override any appropriation made or instructed by the Borrowers. 

  

	22.4	 	No set-off by the Borrower 

  
 All payments to be made by any Borrower under the Finance Documents shall be calculated and be made without (and free and clear of any deduction for)
set-off or counterclaim. 
  

	22.5	 	Business Days 

  
 Unless otherwise specified in this Agreement, any payment which is due to be made on a day that is not a Business Day shall be made on the preceding
Business Day. Interest shall be adjusted accordingly. 
  

	22.6	 	Currency of account 

  

	(a)	 	Subject to paragraphs (b) and (c) below, US Dollar is the currency of account and payment for any sum due from the Borrowers under any Finance Document.

  

	(b)	 	Each payment in respect of costs, expenses or Taxes shall be made in the currency in which the costs, expenses or Taxes are incurred. 

  

 28 

	(c)	 	Any amount expressed to be payable in a currency other than US Dollar shall be paid in that other currency. 

  

	  23.	 	SET-OFF 

  
 The Lender may set off any obligation due from any Borrower under the Finance Documents against any obligation owed by the Lender to the Borrowers,
regardless of the place of payment, booking branch or currency of either obligation. If the obligations are in different currencies, the Lender may convert either obligation at a market rate of exchange in its usual course of business for the
purpose of the set-off. 
  

	  24.	 	NOTICES 

  

	24.1	 	Communications in writing 

  
 Any communication to be made under or in connection with the Finance Documents shall be made in writing and, unless otherwise stated, may be made by fax
or letter. 
  

	24.2	 	Addresses 

  
 The address and fax number (and the department or officer, if any, for whose attention the communication is to be made) of each Party for any
communication or document to be made or delivered under or in connection with the Finance Documents is: 
  

	 	(a)	 	in the case of the Borrower: 

  
 The address and facsimile number of the Borrower are: 
  

					
	 	 	For Fabrinet	  	 
		 	 Address:
	  	 Fabrinet
 c/o Walkers SPV Limited, PO Box 908GT
 Grand Cayman
 Cayman Islands

			
		 	 Attention:
	  	 The Directors

		 	 Tel. No.:
	  	 (345) 945-3727

		 	 Fax. No.:
	  	 (345) 945-4727

			
		 	 And/or
	  	
			
		 	 Address:
	  	 5/6 Moo 6, Soi Khunpra, Phaloyothin Road,
 Klongnueng, Klongluang,
 Patumthanee 12120,
 Thailand

			
		 	 Attention:
	  	 Mr. Pornchai Wessatada

		 	 Tel. No.:
	  	 02-524-9660

		 	 Fax. No.:
	  	 02-524-9661

  

 29 

			
	For Fabrinet Company Limited
	 Address:
	  	 Fabrinet Company Limited
 5/6 Moo 6, Soi Khunpra, Phaloyothin Road,
 Klongnueng, Klongluang,
 Patumthanee 12120,
 Thailand

		
	 Attention:
	  	 Mr. Pornchai Wessatada

	 Tel. No.:
	  	 02-524-9660

	 Fax. No.:
	  	 02-524-9661

  

	 	(b)	 	in the case of the Lender: 

  
 The address and facsimile number of the Lender are: 
  

			
	 Address:
	  	 ABN AMRO Bank N.V.
 [SPECIFY]

		
	 Attention:
	  	 Mr. and/or                [SPECIFY]

		
	 Tel. No.:
	  	 [SPECIFY]

		
	 Fax. No.:
	  	 [SPECIFY]

  
 or any substitute
address and fax number or department or officer as a Party may notify to the other Party by not less than five (5) Business Days’ notice. 
  

	24.3	 	Delivery 

  
 Any communication or document made or delivered by one person to another under or in connection with the Finance Documents will only be effective:

  

	 	(i)	 	if by way of fax, when received in legible form; or 

  

	 	(ii)	 	if by way of letter, when it has been left at the relevant address or five (5) Business Days after being deposited in the post postage prepaid in an envelope addressed to it at
that address, 

  
 and, if a particular department or
officer is specified as part of its address details provided under Clause 24.2 (Addresses), if addressed to that department or officer. 
  
 However, a notice given in accordance with the above but received on a non Business Day or after business hours in the place of receipt will only be
deemed to be given on the next Business Day. 
  

	24.4	 	English language 

  

	(a)	 	Any notice given under or in connection with any Finance Document must be in English. 

  

	(b)	 	All other documents provided under or in connection with any Finance Document must be: 

  

	 	(i)	 	in English; or 

  

 30 

	 	(ii)	 	if not in English, and if so required by the Lender, accompanied by a certified English translation and, in this case, the English translation will prevail unless the document is a
constitutional, statutory or other official document. 

  

	  25.	 	CALCULATIONS AND CERTIFICATES 

  

	25.1	 	Accounts 

  
 In any litigation or arbitration proceedings arising out of or in connection with a Finance Document, the entries made in the accounts maintained by the
Lender are prima facie evidence of the matters to which they relate. 
  

	25.2	 	Certificates and Determinations 

  
 Any certification or determination by the Lender of a rate or amount under any Finance Document is, in the absence of manifest error, prima facie
evidence of the matters to which it relates. 
  

	25.3	 	Day count convention 

  
 Any interest, commission or fee accruing under a Finance Document will accrue from day to day and is calculated on the basis of the actual number of days
elapsed and a year of 360 days or, in any case where the practice in the relevant interbank market differs, in accordance with that market practice. 
  

	  26.	 	PARTIAL INVALIDITY 

  
 If, at any time, any provision of the Finance Documents is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction,
neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of any other jurisdiction will in any way be affected or impaired. 
  

	  27.	 	REMEDIES AND WAIVERS 

  
 No failure to exercise, nor any delay in exercising, on the part of the Lender, any right or remedy under the Finance Documents shall operate as a waiver,
nor shall any single or partial exercise of any right or remedy prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided in this Agreement are cumulative and not exclusive of any rights or
remedies provided by law. 
  

	  28.	 	AMENDMENTS AND WAIVERS 

  
 Any term of the Finance Documents may be amended or waived only with the consent of the Lender and the Borrowers and any such amendment or waiver will be
binding on all Parties. 
  

	  29.	 	COUNTERPARTS 

  
 Each Finance Document may be executed in any number of counterparts, and by the different parties hereto on separate counterparts, each of which shall be
an original but all of which together shall constitute one and the same instrument. 
  

 31 

 SECTION 10 
 GOVERNING LAW AND JURISDICTION 
  

	  30.	 	JURISDICTION 

  
 ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THE FINANCE DOCUMENTS OR ANY COURSE OF CONDUCT, COURSE OF DEALING,
STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF THE LENDER OR THE BORROWERS SHALL BE BROUGHT AND MAINTAINED EXCLUSIVELY IN THE COURTS OF THE STATE OF NEW YORK OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK;
PROVIDED, HOWEVER, THAT ANY SUIT SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT, AT THE LENDER’S OPTION, IN THE COURTS OF ANY JURISDICTION WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND. EACH BORROWER HEREBY
EXPRESSLY AND IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE COURTS OF THE STATE NEW YORK AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSE OF ANY SUCH LITIGATION AS SET FORTH ABOVE AND IRREVOCABLY
CONSENTS TO PERSONAL SERVICE WITHIN OR WITHOUT THE STATE OF NEW YORK. EACH BORROWER HEREBY EXPRESSLY AND IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH IT MAY HAVE OR HEREAFTER MAY HAVE TO THE LAYING OF VENUE OF ANY
SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. TO THE EXTENT THAT ANY BORROWER HAS OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR
FROM ANY LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT, ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS PROPERTY, EACH BORROWER HEREBY IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS
OBLIGATIONS UNDER THIS AGREEMENT, ITS NOTE AND EACH OTHER LOAN DOCUMENT. 
  

	  31.	 	WAIVER OF TRIAL BY JURY 

  
 EACH BORROWER AND THE LENDER WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER ANY FINANCE DOCUMENT,
AND THE BORROWERS AND THE LENDER AGREE THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT A JURY. 
  

	  32.	 	GOVERNING LAW 

  
 This Agreement and the rights and obligations of the parties hereunder shall be governed by and construed in accordance with the internal laws of the
State of New York applicable to contracts made and to be performed entirely within such State. 
  

	  33.	 	NO LIMITATION ON RIGHT OF ACTION 

  
 Nothing in this Agreement shall limit the right of the Lender to commence any legal action against any Borrower and/or its assets in any other
jurisdiction or to serve process in any manner 

  

 32 

 
permitted by law, and the taking of proceedings in any jurisdiction shall not preclude the Lender from taking proceedings in any other jurisdiction whether
concurrently or not. 
  

 33 

 This Agreement has been entered into on the date stated at the beginning of this Agreement 
  

					
	BORROWERS	 		 	
			
	 SIGNED for and on behalf of
 FABRINET
	 		 	
			
	  
 (David T. Mitchell)
	 		 	
			
	 SIGNED for and on behalf of
 FABRINET COMPANY LIMITED
	 		 	
			
	  
 (David T. Mitchell)
	 	 (Seal)
	 	
			
	LENDER	 		 	
			
	 SIGNED for and on behalf of
 ABN AMRO Bank N.V.
	 		 	
			
	  
 (______)
	 		 	  
 (_______)

	Title        	 		 	Title        

  

 34 

					
		 		 	 SCHEDULE 1
 FORM OF CERTIFICATION REPORT

  
 Date [•]

  

	To:	 	ABN AMRO Bank N.V. 

  
 Attention:             [•] 
  
 Dear Sir, 
  
 Pursuant to Clause 4.2(b) of the US$ 35,000,000 Revolving Facility Agreement dated
15 December, 2006, we, Fabrinet, hereby provided the Certification Report confirming (i) details of Eligible Accounts Receivable and (ii) details of our Cash Balance and Total Funded Debts as at [•] as follows: 
  
 Details of Accounts Receivable and Eligible Accounts Receivable as at [•]

  

					
	 	 	 
	Customers	 	Aging of receivables is
within (days)	 	Balance of Eligible Accounts
Receivable
	 	 	 
	 [•]
	 	[•]	 	[•]
	 	 	 
	 [•]
	 	[•]	 	[•]
	 	 	 
	 [•]
	 	[•]	 	[•]
	 	 	 
	 [•]
	 	[•]	 	[•]
	 	 	 
	 [•]
	 	[•]	 	[•]
	 	 	 
	 Total
	 	 	 	[•]

  
 We, Fabrinet, hereby confirm that
(i) all of the above information is true and accurate as of the date of this Certification Report, (ii) each aging of receivables is complied with its trade terms specified under the relevant Sale and Purchase Agreement and (iii) all
Balance of Eligible Accounts Receivable set out above is not overdue. 
  
 Fabrinet 
  
  
  

 David T. Mitchell 
  

 35 

					
		 		 	 SCHEDULE 2
 FORM OF THE PROMISSORY NOTE

  
 PROMISSORY NOTE 

  
 Promissory Note No: _______ 
  
 Date of Issue: _______ 
  
 Issued at: _______ 
  
 Tranche: _______ 
  
 [NAME OF THE RELEVANT BORROWER] 
  
 irrevocably and unconditionally promises to pay the principal sum of US$_______ 

 
 TO the order of 
  
 ABN AMRO Bank N.V. 
  
 on _______, together with interest thereon computed at the rate of [•]% per annum, at
ABN AMRO Bank N.V., at_______________________. 
  
 Presentments for payment,
protest, notices of protest, demand and notice of dishonour are hereby waived. 
  
 In the event of commencement of suit to enforce payment of this Promissory Note, we agree to pay all collection costs (including attorney’s fees). 
  

This Promissory Note is one of the Promissory Notes referred to in that certain US$ 35,000,000 Facility Agreement (the “Agreement”) dated 15 December,
2006, among Fabrinet and Fabrinet Company Limited as co-borrowers, and the ABN AMRO Bank N.V. as Lender. It is subject to acceleration as provided in the Agreement. 
  
 This Promissory Note shall be governed by the laws of the State of New York. 
  
 For and on behalf of 
 [NAME OF THE RELEVANT BORROWER] 
 as issuer 
  
  
  

 (Authorized Signatory) 
  

 36 

					
		 		 	 SCHEDULE 3
 FORM OF UTILISATION REQUESTS

  

	From:	 	[Borrower] 

  

	To:	 	ABN AMRO Bank N.V. 

  

	    	 	Attention:            [•] 

  
 Dated: 
  
 Dear Sirs 
  
 Fabrinet and Fabrinet Company Limited – US$ 35,000,000 Facility Agreement 
 dated 15 December, 2006 (the “Facility Agreement”) 
  

	1.	 	We refer to the Facility Agreement. This is a Utilisation Request. Terms defined in the Facility Agreement shall have the same meaning in this Utilisation Request.

  

	2.	 	We wish to borrow a Loan on the following terms: 

  
 Proposed Utilisation
Date:                        [    •    ] 
  
 Amount:                                      
                 [    •    ] 
  

	3.	 	We confirm that each condition specified in Clause 4.2 (Further conditions precedent) is satisfied on the date of this Utilisation Request. 

  

	4.	 	Please transfer the proceeds of this Loan by SWIFT to 

  
 Bank of America 
 Swift Code BOFAUS6S

 for credit to the undersigned 
 A/C# 13684-01626 
  

	5.	 	This Utilisation Request is irrevocable. 

  
 Yours faithfully 
  
 _______________________ 
 authorised signatory for 
 [the Borrower] 
  

 37 

					
		 		 	 SCHEDULE 4
 FORM OF RECEIPT

  

	To:	 	ABN AMRO Bank N.V. 

 as Lender 
  
 Attention:            [•]

  
 From:        [The Borrower] 
  
 Dated: 
  
 Fabrinet and Fabrinet Company Limited—US$ 35,000,000 Facility Agreement 
 dated I5 December, 2006 (the “Facility Agreement”) 
  
 We refer to the Facility Agreement. This is a Receipt. Terms used in the Facility Agreement shall have the same meanings in this Receipt. 
  
 We hereby confirm that the following Loan has been duly transferred to our account no
[    •    ] in accordance with the Utilisation Request dated [    •    ] and such Loan shall be deemed borrowed and received by us upon the terms and subject
to the conditions set out in the Facility Agreement. 
  

							
	 (a)
	  	Amount	  	:        	  	_____________US Dollars; and
	 (b)
	  	Utilization Dale        	  	:        	  	_____________200[•]

  
  
  

 authorized signatory for 
 [the Borrower] 
  

 38 

 SCHEDULE 5 
 CONDITIONS PRECEDENT 
  

 The following are the documents and evidence referred to in Clause 4 (Conditions of Utilization). Documents shall be supplied in such
number of copies or counterparts as the Lender may require. Copies required to be certified shall be certified in a manner satisfactory to the Lender by the authorised director of the relevant Borrower or other party concerned, as the case may be.
Each of the documents referred to in this Schedule 5 (Conditions Precedent) which, in the original, is not in English (except for the corporate documents of Fabrinet Co, which can be in Thai) must be accompanied by English
translation and each such translation must be certified as substantially true and correct by a professional translator or by such other person as is reasonably acceptable to the Lender. Each translation must fairly represent the meaning of the
original text and must be free of discrepancies and omissions. 
  

	1.	 	Corporate Documents 

  

	 	(a)	 	in relation to Fabrinet Co, certified true copies of: 

  

	 	(i)	 	its Memorandum of Association; 

  

	 	(ii)	 	its Articles of Associations; and 

  

	 	(iii)	 	the list of shareholders; 

  

	 	(b)	 	in relation to Fabrinet, certified true copies of: 

  

	 	(i)	 	its Memorandum of Association; 

  

	 	(ii)	 	its Articles of Association; 

  

	 	(iii)	 	its Register of Members; 

  

	 	(iv)	 	its Register of Directors; 

  

	 	(v)	 	its Register of Mortgages & Charges; and 

  

	 	(vi)	 	a Certificate of Good Standing. 

  

	 	(c)	 	certificate issued by the Ministry of Commerce of Thailand as to the following matters in relation to Fabrinet Co, certified by the authorized director of Fabrinet Co that the
contents therein are true and correct as at the date of this Agreement and as at the date of certification: 

  

	 	(i)	 	the corporate particulars, 

  

	 	(ii)	 	the registered address, 

  

	 	(iii)	 	the directors, 

  

	 	(iv)	 	the authorization of the directors, 

  

	 	(v)	 	the registered capital and objectives, and 

  

	 	(vi)	 	the seal; 

  

	 	(d)	 	 copies of the Minutes of the Meeting of the Board, or unanimous written resolution, of each Borrower (if any) in the form acceptable to the Lender and certified by
the authorized director of each Borrower as being a true, complete and up-to-date copy of resolutions, duly adopted and in full force and effect, and not revoked or amended and having been passed at a meeting of the Board of Directors which was duly
convened and held and at which a quorum was present or having been validly passed (as the 

  

 39 

	 	 
case may be), authorizing the entry into and the performance of the Finance Documents to which it is a party and authorizing its authorized director to
execute and deliver on its behalf the Finance Documents to which it is a party and all notices, certificates, receipts and other documents required pursuant to or in connection herewith; and 

  

	 	(e)	 	certified specimen signatures of the authorized director of each Borrower. 

  

	2.	 	Legal opinion 

  

	 	(a)	 	A legal opinion issued by Maples and Calder, special Cayman Island counsel to the Lender, satisfactory to the Lender as to Cayman Islands law; and. 

  

	 	(b)	 	A legal opinion issued by Linklaters, special Thai counsel to the Lender, satisfactory to the Lender as to Thai law 

  

	3.	 	Finance Documents 

  
 An original of each of the Finance Documents executed by the parties thereto. 
  

	4.	 	Security Documents 

  
 The Lender shall have received evidence satisfactory to it that all Security Documents (including the Notice of Assignment (as defined in the Assignment
and Security Agreement), acknowledgements and consents under each Security Document) shall have been duly executed by the parties thereto and registered (if required by law) and that all requirements thereunder shall have been complied with by all
parties thereto, that such Security Documents are in full force and effect, and that the obligations of the Borrowers under the Finance Documents in respect of Tranche II Loans are duly secured thereby. 
  

	5.	 	Other documents and evidence 

  

	 	(a)	 	A copy of any other Authorisation or other document, opinion or assurance which the Lender considers to be necessary or desirable (if it has notified the Borrowers accordingly) in
connection with the entry into and performance of the transactions contemplated by any Finance Document or for the validity and enforceability of any Finance Document. 

  

	 	(b)	 	The Original Financial Statements have been received by the Lender. 

  

	 	(c)	 	Evidence that the fees, costs and expenses then due from the Borrower pursuant to Clause 15 (Costs and expenses) have been paid or will be paid by the first Utilisation
Date. 

  

 40 

 SCHEDULE 6 
 FORM OF ROLLOVER REQUESTS 
  
 From:    [Borrower] 
  
 To:        ABN AMRO Bank N.V. 
  
 Attention:            [•]

  
 Dated: 
  
 Dear Sirs 
  
 Fabrinet and Fabrinet Company Limited - US$ 35,000,000 Facility Agreement 
 dated 15 December, 2006 (the “Facility Agreement”) 
  

	1.	 	We refer to the Facility Agreement. This is a Rollover Request. Terms defined in the Facility Agreement shall have the same meaning in this Rollover Request.

  

	2.	 	We hereby confirm that, as of the date of this Rollover Request, there is a [SPECIFY Tranche I or Tranche II] Loan outstanding in the amount US$ [•] which we owe to
the Lender in accordance with the Utilisation Request dated [•]. 

  

	3.	 	We wish to rollover such outstanding Loan on the following terms: 

  
 Proposed Utilisation Date:
            [    •    ] 
  
 Amount:
                                        [
    •    ] 
  

	4.	 	We confirm that each condition specified in Clause 4.2 (Further conditions precedent) is satisfied on the date of this Rollover Request. 

  

	5.	 	This Rollover Request is irrevocable. 

  
 Yours faithfully 
  
  
 ................................................ 
 authorised signatory for 
 [the Borrower] 
  

 41 

 SCHEDULE 7 
 FORM OF COMPLIANCE CERTIFICATE 
  
 To:    ABN AMRO Bank N.V. 
  
 Attention:         [•] 
  
 Dated: 
  
 Dear Sirs 
  
 Fabrinet and Fabrinet Company Limited - US$ 35,000,000 Facility Agreement 
 dated 15 December, 2006 (the “Facility Agreement”) 
  
 In satisfaction of the requirement of Clause 7.2(d) of the of the Facility Agreement, I hereby certify to you as of the end of the fiscal quarter of
[select Fabrinet or Fabrinet Company Limited] (the “Borrower”) as follows: 
  

	1.	 	To the best of my knowledge and belief, after due inquiry, no Default and no Event of Default (as those terms are defined in the Facility Agreement) has occurred and is continuing.

  

	2.	 	The Debt to Equity Ratio of the Borrower, calculated in compliance with Clause 18.9 of the Facility Agreement is: 

  

					
	 _________________________
	 	to	  	______________________1

  

	3.	 	The Net Debt to EBITDA Ratio of the Borrower, calculated in compliance with Clause 18.10 of the Facility Agreement is: 

  

					
	 _________________________
	 	to	  	______________________1

  

	4.	 	[?] 

  
 IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said corporation this ____ day of _____, 20____. 
  
  
  

			
	 [Affix
 Corporate 
 Seal
 here]
	  	(Signature of Chief Financial Officer)

  
  
  
  

	 1
	 	 Calculations supporting this conclusion are attached. 

  

 42Loan Agreement, dated March 4, 2005

 Exhibit 10.14 
 (Translation) 
 LOAN AGREEMENT 
 Made at Export-Import Bank of Thailand 
 Date March 4, 2005 
 We, FABRINET CO., LTD., by Mr. Soon Kaewchansilp, the authorized representative, having an office located at No. 294 Moo 8, Soi
                    , Vibhavadee-Rangsit Road, Kukod Sub-district, Lamlukka District, Pathumthani Province, hereinafter referred to as the
“Borrower”, is desirous to receive financial support from Export-Import Bank of Thailand, hereinafter referred to as the “Lender”, in the form credit in the category of foreign currency loan in the amount of 4,000,000 US Dollars
(Four Million United States Dollars only) for purchase of machinery, and the Lender agrees to provide such financial support to the Borrower. The Borrower, therefore, enters into this Agreement as evidence of receipt of such financial support with
material contents as follows: 
 Article 1 Definitions 
 Except otherwise indicated by the essence of the Agreement, the following terms or expressions shall mean as follows: 
  

	1.1	“Interest period” shall mean a period commencing on the date of the first drawdown until the date on which full payment of the loan has been made, which shall be divided
into a number of consecutive interest periods until the end of such period, subject to the following conditions: 

  

	 	a.	Each interest period shall be equal to six (6) months; 

  

	 	b.	First interest period shall commence on the date of the first drawdown and end upon the lapse of the period specified in a; 

  

	 	c.	Subsequent interest periods shall commence at the end of the preceding interest period and end upon the lapse of the period specified in a. 

  

	1.2	“Availability period” shall mean the period commencing on the date of execution of this Agreement up to 3 March 2006. 

  

	1.3	“Interest payment date” shall mean the due date for payment of interest for each interest period, subject to the following conditions: 

  

	 	a.	First interest payment date shall be the date of completion of one (1) month’s period from the date of the first drawdown; 

  

	 	b.	Subsequent interest payment date shall be the date of completion of one (1) month’s period from the preceding interest payment date; 

  

 Page 1 

	 	c.	In the case of a drawdown other than the first drawdown, the first payment of the interest thereon shall be made on the interest payment date of the first drawdown which comes
immediately after the date of such other drawdown; 

  

	 	d.	Where any interest payment date falls beyond the loan repayment date of each installment, the interest payment date in respect to such payment shall fall on the loan repayment date
of such installment. 

  

	1.4	“Drawdown date” shall mean the date on which the Borrower draws down the loan from the Lender. 

  

	1.5	“US Dollar” shall mean the currency of the United States of America. 

  

	1.6	“Business day” shall mean the day on which commercial banks in Bangkok, London and New York opens for normal business. 

  

	1.7	“Default rate” shall mean the interest rate charged to a customer in default as determined and announced by the Lender under the Notification of the Ministry of Finance
regarding prescription of financial institutions and interest rates chargeable by financial institutions to borrowers, which, at the time of execution hereof, is fourteen point five per cent (14.5%) per annum, but may be changed as determined
and announced from time to time by the Lender. Where the Lender determines and announces the change to such interest rate, the Borrower agrees that the Lender may immediately charge such changed interest rate without any requirement for the Lender
to provide any other evidence thereof to the Borrower. 

  

	1.8	“LIBOR” or “London Interbank Offered Rate” shall mean the interest rate calculated according to the LIBOR fixing process prescribed by British Bankers’
Association for London Interbank Market for lending in US Dollar for a period of six (6) months two (2) business days before the commencement of each interest period or any rate as determined by the Lender each time, and when the Lender
has determined the LIBOR for any interest period, the LIBOR so determined shall be deemed the LIBOR under this Agreement with respect to such interest period. 

  

	1.9	“Margin” shall mean an addition to the interest by two point two five per cent (2.25%) per annum and shall include the margin to be changed from time to time by the
Lender as the Lender may deem appropriate, to which the Borrower shall agree, and the Borrower agrees that the change may be made instantly without any requirement for the Lender to provide any other evidence thereof to the Borrower.

 Article 2 Amount of loan and drawdown request procedure 
 The Borrower agrees to borrow and the Lender agrees to grant the loan in the amount of 4,000,000 US Dollars (Four Million United States Dollars only). 
  

	 ̈	The Borrower shall request a one-time drawdown; 

  

	þ	The Borrower shall request drawdowns in installments. 

  

 Page 2 

 The Borrower acknowledges that it may draw down such loan during the availability period. The Borrower agrees that, after
the availability period it shall not be entitled to draw down under this Agreement. In requesting to draw down under this Agreement, the Borrower shall comply with the following terms and conditions: 
  

	2.1	The Borrower shall have fully done the following to the satisfaction of the Lender: 

  

	 	(a)	Has provided security as specified in Article 5 in full (except otherwise specifically specified); 

  

	 	(b)	                    . 

  

	2.2	In requesting each drawdown, the Borrower shall submit a drawdown request in the form attached hereto as Annex A, which shall be deemed part of this Agreement, together with
                    , 

 and other evidences in support of the request for drawdown to the satisfaction of the Lender that the Borrower will utilize the fund granted for the purpose of the loan under this Agreement. Such documents shall be submitted to the Lender
no less than five (5) business days prior to the date of drawdown, and such drawdown request shall bind the Borrower to draw down the loan and shall be irrevocable. The Lender may consider allowing the Borrower to draw down the loan in any
amount as the Lender may see appropriate. 
  

	2.3	In requesting each drawdown, the Borrower shall draw down in the amount not less than 500,000 US Dollars (Five Hundred Thousand US Dollars only), except where the Lender sees
otherwise. 

  

	2.4	The Borrower hereby agrees to sell to the Lender each amount of the loan as requested to be drawn down by the Borrower and granted by the Lender, in Baht, using the exchange rate
determined by the Lender for buying US Dollar in Baht on the date of drawdown, or any exchange rate as the Lender may deem appropriate. After doing so, the Lender shall give to the Borrower the amount of Baht derived from the sale of the US Dollar,
in which case the Borrower agrees to be deemed that the Borrower has drawn down and taken the loan in US Dollar as requested to be drawn down by the Borrower. 

 Notwithstanding the foregoing, if the Borrower wishes to draw down in US Dollar, the Borrower shall first furnish accurate and complete evidence as
required by Bank of Thailand or the Government to the Lender, or the Lender must have given consent thereto. 
  

	2.5	 Where any circumstance or any other fact leads the Lender to conclude that the Borrower should not receive the loan under this Agreement, either in whole or in
part, for any reason, or because of any other necessity which prevents the Lender from complying with the terms of this Agreement, the Borrower acknowledges that the Lender shall be entitled to withhold the loan in whole or in part, in which case
the Borrower shall not contest, and agree that the Lender may deem that the Borrower has lost its entitlement to the loan under this Agreement, as may be deemed appropriate by the Lender. In such case, the Borrower shall accept the judgment of the
Lender in 

  

 Page 3 

	 	 
such matter, and it shall not insist that the Lender has caused any damage to the Borrower. The Borrower also waives its right to claim any damages against
the Lender and agrees that the Lender shall be entitled to treat the Borrower as provided in Article 9 forthwith. 

 Article 3 Rate of
interest and payment of interest 
  

	3.1	The Borrower shall pay interest to the Lender as calculated based on the amount of the loan which has been drawn down and remains outstanding from the date of drawdown until the
date the full payment has been made at the rate of LIBOR plus the margin per annum. The Borrower shall pay the interest on each interest payment date. 

  

	3.2	In case the Borrower becomes in breach of any provision of the Agreement, the Borrower agrees that the Lender shall charge interest on the entire outstanding principal amount under
this Agreement at the default rate from the date of default or breach until the date on which the Lender has received payment of the debts under this Agreement in full. 

  

	3.3	The Borrower expressly agrees and acknowledges that if the Borrower fails to pay the interest for a period of no less than one (1) year, for whatever reason, no matter whether
the Lender has demanded payment thereof or not, the Lender shall be entitled to compound the unpaid interest with the outstanding principal forthwith. The sum of the principal and the interest so compounded shall become the principal to be repaid by
the Borrower and on which interest shall be paid at the default rate to the Lender until the debts have been fully paid, without the requirement for the Lender to notify the Borrower in advance. By compounding such interest with the principal, the
Lender shall not be deprived of the rights under Article 9 of this Agreement. 

 Article 4 Payment of principal and payment schedule 

  

	4.1	In repaying the principal drawn down by the Borrower under this Agreement, the Borrower agrees to make the payment in installments on a quarterly basis, totaling sixteen
(16) installments. The first repayment shall be made on the date of completion of the quarter immediately following the drawdown, and the subsequent repayments shall be made on the due date for each installment payment in the amount as follows:

  

	 	þ	in an equal amount; 

  

	 	 ̈	US$            
(                    ); 

  

	 	 ̈	                    , 

 Provided that the Borrower shall complete the repayment within 4 years. 
  

	4.2	 The Borrower shall be entitled to prepay the outstanding loan in part or in whole before the schedule specified in Article 4.1, provided that the payment is made on
the interest payment date, together with payment of interest on the loan amount due on such interest payment date. The Borrower shall notify the Lender in writing in advance no less than three (3) business days prior to the prepayment date in
the form of the prepayment request attached hereto as Annex B and deemed part of this 

  

 Page 4 

	 	 
Agreement, or in other form approved by the Lender, and shall furnish evidence to the satisfaction of the Lender of the source of fund for the prepayment and
pay the prepayment fee as specified in Article 10.1.3, except where, in the Lender’s view, the fund for the prepayment is derived from normal operation of the Borrower or from the increase of the registered capital of the Borrower. The Borrower
agrees that the amount prepaid shall be applied by the Lender to repay the last principal amount and the subsequent amounts in an inverse order. 

  

	4.3	Where the Lender is unable to secure a loan abroad or unable to grant the loan in US Dollar by operation of law due to any announcement that amends, alters or interprets the law,
including orders of government agencies, or for whatever reason, the Borrower shall, upon demand by the Lender, repay the loan together with interest thereon in full, and shall not raise the benefit of time as a defense or as a ground for delaying
the payment, and shall not claim any damages from the Lender. 

 5. Security 
 As security for performance of obligations under this Agreement, the Borrower shall: 
  

	 ̈	Procure registration of land mortgage         -        , together with structures thereon in
the amount, and under the conditions, method and mortgage agreement form as prescribed by the Lender; 

  

	 ̈	Procure registration of vessel mortgage         -        , in the amount, and under the
conditions, method and mortgage agreement form as prescribed by the Lender promptly as may be practical, but no later than
                    , and during such time that it is unable to do as required, the Borrower covenants that it shall not encumber or create
any preferential right over such vessel in favor of any person; 

  

	þ	Procure registration of machinery mortgage pursuant to the details in Annex C attached hereto and deemed part hereof, in the amount, and under the conditions, method and mortgage
agreement form as prescribed by the Lender promptly as may be practical, but no later than four months from the date of completion of installation of the machinery, and during such time that it is unable to do as required, the Borrower
covenants that it shall not encumber or create any preferential right over such machinery in favor of any person; 

  

	 ̈	Procure the pledge of         -         to the Lender in the amount, and under the conditions,
method and pledge agreement form as prescribed by the Lender; 

  

	þ	Procure that Fabrinet in Cayman Islands provide a guarantee for the Borrower’s debts, to the Lender in the amount, and under the conditions, method and guarantee form as
prescribed by the Lender; 

  

	 ̈	Procure         -         under the conditions, method and agreement form as prescribed by the
Lender; 

  

	 ̈	Procure the confirmation by         -        , who has mortgage/pledged/placed property or
done anything in favor of the Lender as security for payment of the Borrower’s debts that such security remains to be the security under this Agreement by entering into any juristic acts and/or dong any acts as required by the Lender in all
respects; 

  

 Page 5 

	 ̈	        -        . 

 During the time the Borrower’s obligations under this Agreement are outstanding, the Borrower acknowledges that, if the Lender considers that the value of the
property provided as security decreases or fails to cover the Borrower’s obligations under this Agreement, the Borrower shall proceed to register and/or enter into other mortgage, pledge, guarantee and/or encumbrance agreements over any
property or person acceptable by the Lender, in the amount, and under the conditions, method and agreement form as prescribed by the Lender. The Borrower also covenants that it shall not further mortgage, pledge or create any encumbrance over the
property provided as security as mentioned above, and shall not create any preferential right or charge over such property, unless the prior written consent from the Lender has been obtained. 
 6. Borrower’s representations 
 The Borrower represents and
warrants the truthfulness of the following statements: 
  

	6.1	The borrowing, performance, documentation and proceeding or acts of the Borrower provided herein are lawful and in accordance with the objects and rules and regulations of the
Borrower, and are not in violation or avoidance of obligations or representations it has with, or given to, other persons. 

  

	6.2	The borrowing and compliance with the terms and conditions of this Agreement have been duly approved by the Board of Directors of the Borrower, and the other relevant authorities.

  

	6.3	This Agreement, other agreements and any documents related to this Agreement, are lawfully valid and enforceable and are binding obligations of the Borrower enforceable under the
respective terms hereof or of such documents in all respects. 

  

	6.4	Presently the Borrower has no case pending in court or government authority, which may affect its financial position and operation. 

  

	6.5	The Borrower has no obligations or liabilities under which other person shall be entitled to repayment before or over the obligations of the Borrower owed to the Lender under this
Agreement, except for preferential rights under law. 

  

	6.6	The Borrower is not in default or in breach of any agreement or obligations to other persons in a way that affects or is likely to affect the financial position or any operation of
the Borrower. 

  

	6.7	No property of the Borrower is subject to encumbrance, mortgage, pledge, lease, hire-purchase, or retention right, or is subject to liability or condition under which other person
shall have the right over such property, in whatever manner and with any person, other than those it has with, or given to, the Lender, or which are in normal course of business of the Borrower. 

  

 Page 6 

	6.8	There is no event, which, if arising or continuing, may have an impact such that the Lender’s consideration to grant the loan is changed from the provisions of this Agreement.

  

	6.9	Any licenses, certificates, consents, benefits or other documents granted, permitted, consented, or certified by government agency, official, person or juristic person to the
Borrower and required to be held by the Borrower or required for operation of the Borrower or related to the entering into or performance of this Agreement, are still valid and enforceable in all respects. 

 In addition, the documents relating to the authorization, certification, agreement or any other document of the Borrower relating to the entering into
this Agreement or performance of this Agreement and submitted by the Borrower to the Lender, are correct and lawfully enforceable. 
  

	6.10	The fund granted under this Agreement shall be utilized for the operation of the Borrower’s business in accordance with the purpose of the borrowing under this Agreement
mentioned above only, and shall not be used for other purposes. 

  

	6.11	        -        . 

 7. Covenants and other provisions 
 Throughout the time the Borrower
is indebted to the Lender pursuant to this Agreement, the Borrower agrees to comply with the following requirements: 
  

	7.1	To furnish the balance sheet and profit and loss statement, certified by the auditor approved by the Lender, to the Lender no later than thirty (30) days after certification by
the auditor but no later than one hundred and fifty (150) days after the end of the relevant financial period. Such financial statements must be prepared according to the generally accepted accounting principles, and represent the true
condition, financial position and performance of the Borrower during such financial period. 

  

	7.2	To pay all types of taxes and duties, except where the Borrower is entitled to lawfully contest or appeal the tax examination or assessment. 

  

	7.3	To allow the Lender’s representatives to examine the equipment, operation, records, books, accounts or documents of the Borrower during working hours of the Borrower, and to
examine the condition of the interior of the building, office, place of business of the Borrower as the Lender may deem appropriate, in which case the Borrower shall accommodate the Lender’s representatives in all respects.

  

	7.4	To notify the Lender in writing promptly of the litigation or dispute between the Borrower and other persons, regardless of whether the Borrower is a plaintiff or defendant.

  

	7.5	To submit documents or information regarding the operation and the financial condition of the Borrower to the Lender as the Lender may deem appropriate. 

  

 Page 7 

	7.6	To procure insurance from an insurance company approved by the Lender in the categories of casualty insurance and all risks insurance for property and/or rights over the property
provided as security for the obligations under this Agreement, office building, place of business, machinery, and other property and business of the Borrower with the sum insured and conditions as may be generally procured by an operator of the
business of the same category and same size as the Borrower’s, naming the Lender as the beneficiary, within thirty (30) days after the execution of this Agreement. In addition, the Borrower allows the Lender to take out insurance for the
property and/or any rights over the property provided as security, whether of the similar nature or of any nature as the Lender may deem appropriate, in which case the Borrower agrees to pay the insurance premium and all expenses relating thereto.

 The Borrower shall submit the original insurance policy mentioned in the preceding paragraph to the Lender within thirty
(30) days after the date of entering into the contract, and in the case of every amendment, supplement or change to such policy the Borrower shall notify the Lender in advance for approval by the Lender, except where such amendment, supplement
or change will increase the benefit for the Lender. The Borrower shall submit such insurance policy and/or other document showing such amendment, supplement or change to the Lender within fifteen (15) days after the date of the amendment,
supplement or change to the insurance policy. 
 In addition, the Borrower shall effect the renewal of the insurance policy within fifteen
(15) days before the expiration of the insurance policy. In case of failure to renew the insurance, the Borrower allows the Lender to exercise its discretion to renew it promptly and it shall be deemed that this Agreement is a power of attorney
made by the Borrower authorizing the Lender to do and execute any documents on behalf of the Borrower as required for the renewal of the insurance policy, such as signing an application for insurance, and application for renewal, etc, as well as to
obtain documents on behalf of the Borrower. (The Borrower shall not in any way revoke or inhibit the exercise of such rights of the Lender to do as authorized by the power of attorney.) The Borrower agrees to bear all insurance premiums and expenses
relating to the taking out and renewal of the insurance, and agrees that the Lender may immediately deduct such insurance premiums and expenses from any money presently owned by the Borrower or owed to the Borrower by the Lender and/or to be owned
or owed in the future, and the provisions of Article 10.10 shall apply mutatis mutandis. 
  

	7.7	To notify the Lender promptly upon the occurrence of any event which may result in the Borrower becoming in default under this Agreement. 

  

	7.8	To refrain from any act which may subordinate the rights of the Lender to those of other creditors or credit providers of the Borrower. 

  

	7.9	To comply with rules, regulations, conditions and criteria of government agencies, authorities, persons, or juristic persons as required for the lawful operation of business of the
Borrower, including obtainment and renewal of licenses, certificates, consents or any documents required for the operation of the Borrower’s business. 

  

	7.10	 To refrain from disposal, transfer, lease, pledge, mortgage, creation of encumbrance or subjecting to any liability or condition that will allow other person to
have certain 

  

 Page 8 

	 	 
rights over the Borrower’s property in any manner in favor of any other person, except in favor of the Lender, or except where the prior written consent
of the Lender has been obtained or in case of normal course of business of the Borrower. 

  

	7.11	Not to grant a loan or credit or guarantee or assume liability or take any responsibility for liability of other person. 

  

	7.12	Not to reduce its registered capital. 

  

	7.13	Not to create any obligations or commitments which will cause the total obligations of the Borrower at any time to exceed
        -         (        -        ), except where the prior written
consent of the Lender has been obtained. 

  

	7.14	To maintain the properties of the Borrower in good working condition. 

  

	7.15	To do all acts required by the terms of this Agreement, as well as to co-operate as required by the Lender so as to facilitate the steps taken in accordance with this Agreement.

  

	7.16	        -        . 

 Article 8 Events of Default 
 If any one of the following events
occurs, the Borrower allows the Lender to deem that the Borrower has become in default: 
  

	8.1	The Borrower fails to pay the principal, interest, fee or any money in the amount and/or according to the schedule provided in this Agreement. 

  

	8.2	Any indebtedness of the Borrower other than those specified in this Agreement is not satisfied when it becomes due, or has to be paid before its due date, or the Borrower’s
creditor becomes entitled to demand prepayment thereof. 

  

	8.3	The Borrower fails to perform, or becomes in breach of, any agreement, terms or conditions provided in this Agreement or any agreement or contract binding on the Borrower.

  

	8.4	The evidence, writing, representation, warranty or document submitted by the Borrower to the Lender contains any false statement or is forged document or is not legally valid or is
incorrect or misleading in material respect, either in whole or in part. 

  

	8.5	The Borrower ceases to operate the business it is currently operating as of the time of execution of this Agreement, or demonstrates its likelihood to cease its operation or the
material part of its business, or the Borrower disposes of its whole business or assets or the materiel part thereof, except for the case of normal course of its business, or the Borrower carries on a business other than that being currently
operated. 

  

 Page 9 

	8.6	There is any change or suspension or revocation of any license, certificate, consent or benefit obtained by the Borrower, which will affect the capability of the Borrower in
operating the business or the performance of the Borrower under this Agreement. 

  

	8.7	The Borrower becomes subject to legal proceeding or state order, or there is any other event which causes the change in the Borrower’s operation, or causes the power to manage
its business or operation to be changed or interrupted, or all or the majority of shares in the Borrower or all or part of the Borrower’s assets or income become subject to seizure, attachment, appropriation or become state property.

  

	8.8	The Borrower is sued, or there is an occurrence of any other event which, in the Lender’s opinion, may cause damage to the operation or financial condition of the Borrower, or
may affect the capability of the Borrower in paying its debts. 

  

	8.9	The Borrower enters into any agreement with its creditors, or the Borrower becomes subject to reorganization, or receivership or becomes insolvent, or its assets are seized or
attached by the official, or the Borrower does any act which may lead to the Borrower being subject to reorganization or sued in bankruptcy case, or files a request to enter into reorganization or bankruptcy, or enters into a composition of debt or
assignment for the benefit of its creditors, or there is any litigation or request for any order for bankruptcy, dissolution, liquidation, reorganization, restructuring, winding up or other acts. 

  

	8.10	Other event occurs, which leads the Lender to believe that there is an adverse change to the operation, assets, debts or condition (financial or others) of the Borrower.

 9. Result of default 
  

	9.1	In the event of default under Article 8, the Borrower agrees that the indebtedness of the Borrower under this Agreement, either the principal, interest or any other amount, shall be
deemed to become due forthwith, and the Lender shall be entitled to convert the outstanding debts in US Dollar into Baht any time at the final exchange rate determined by the Lender as the selling rate for US Dollar as of the date of such
conversion. 

  

	9.2	If the Lender has no intention to convert the debts forthwith as mentioned in Article 9.1, the Borrower allows the Lender to convert the portion of the debts outstanding into Baht
applying the final exchange rate determined by the Lender as the selling rate for US Dollar as of the date of such conversion. 

  

	9.3	When the Borrower becomes in default, the Borrower agrees to pay interest on the total principal outstanding under this Agreement, either the one outstanding in US Dollar or in Baht
as totally converted under Article 9.1 or partially converted under Article 9.2, at the default rate as specified in Article 3.2. 

  

	9.4	The provisions regarding conversion of the outstanding US Dollar debts into Baht when the Borrower becomes in default as provided in this Article 9 shall not deprive the Lender of
the right to convert the outstanding debts in US Dollar into Baht any time as the Lender may deem appropriate. 

  

 Page 10 

 10 Miscellaneous 
  

	10.1	The Borrower agrees to pay to the Lender the fees as follows: 

  

	 	10.1.1	Front-end fee, at the rate of zero point seven five per cent (0.75%) of the total amount of the loan under this Agreement payable in one lump sum on the date of execution of this
Agreement. 

  

	 	10.1.2	Commitment fee, at the rate of         -         per cent
(    -    %) per annum of the amount of the loan available to the Borrower but has not been drawn down from the Lender, calculated on a daily basis from the date of execution of this Agreement to the
expiration of the availability period or the date the whole amount of the loan is drawn down, or the date the Borrower requests the cancellation of the whole amount of the loan available to the Borrower but not yet drawn down, whichever occurs
earlier. (Such fee shall be paid within seven (7) days after the expiration of the availability period, or the date the Borrower draws down the loan in full, or the date the Borrower requests the cancellation of the whole amount of the loan
available to the Borrower but not yet drawn down, whichever occurs earlier). 

  

	 	10.1.3	Prepayment fee, at the rate of one per cent (1%) of the prepayment amount, payable at the time of prepayment of the principal amount. 

  

	 	10.1.4	Cancellation fee, at the rate of one per cent (1%) of the amount of the loan requested by the Borrower to be cancelled under this Agreement, either in whole or in part,
provided that a written notice thereof is sent to the Lender no less than five (5) business days in advance, or of the amount not drawn or drawn but not in full, payable on the date of cancellation or the last day of the availability period, as
the case may be. 

 The above-mentioned fees shall be payable in Baht. Therefore, in calculating the above fees, the Borrower
must convert the amount of the fees in US Dollar into Baht at the exchange rate determined by the Lender as the selling rate for US Dollar as of the date of payment of such fees. 
  

	10.2	In the case where this Agreement requires the Borrower to pay any amount in US Dollar, the Borrower agrees to pay such amount in US Dollar as specified. 

  

	10.3	Acquisition of fund in currencies other than Baht, and/or exchange for foreign currency and remittance for payment abroad to be made through the Lender, shall be solely responsible
for by the Borrower, and the Borrower agrees to provide assistance and facilitate the process, and to cooperate and strictly comply with the regulations and law relevant to such matter. 

  

	10.4	In calculating the interest, availability fee and others which refer to a number of days, months, years or periods, the Borrower agrees to apply the standard for calculation as
follows: For calculation regarding US Dollar, one (1) year shall consist of three hundred and sixty (360) days, and for calculation regarding Baht, one (1) year shall consist of three hundred and sixty-five (365) days.

  

 Page 11 

	10.5	In paying the interest, principal or any amount to the Lender under this Agreement, the Borrower shall deliver such amount to the Lender on a business day, at the office and within
working hours of the Lender. If the payment schedule falls on a holiday, the payment shall be made on the next business day. 

  

	10.6	The Borrower agrees that the payment of any amount to the Lender under this Agreement shall be free from any restriction or condition whatsoever, or any withholding for tax or
deduction for expenses as may be chargeable or deducted under the law, order, ministerial regulation, regulation of the government agencies currently in force and/or to become in force in the future. If the Borrower has to withhold such tax or
deduct such expense by operation of law, the Borrower agrees to pay additional amount to the Lender so that the amount paid to the Lender after the withholding of such tax or expense shall be equal to the amount of the principal, interest, fee,
expense or any money to be paid by the Borrower to the Lender under this Agreement as if there were none of such withholding. 

  

	10.7	In the case of any promulgation of or amendment to the content or interpretation of the law, order, ministerial regulation, regulation of the government agencies or authorities,
including the method for tax collection, the method for calculation and/or rate of taxes, or any event has occurred resulting in a change to the circumstances as of the date of execution of this Agreement in a way that the Lender shall have or may
have the burden to pay tax (except for Lender’s income tax) in an amount greater than the amount currently existing in relation to the granting of the loan to the Borrower, the Borrower agrees to pay the increased amount of the tax to the
Lender as shall be detailed in a written notice from the Lender to the Borrower, in which case the Borrower agrees and acknowledges that the amount to be paid by the Borrower to the Lender according to such written notice, including evidence of tax
calculation made by the Lender, shall be deemed to be fully correct and binding on the Borrower. 

  

	10.8	All stamp duties, fees, taxes, insurance premiums and expenses arising out of the registration of security, mortgage, pledge, guarantee, any arrangement with regard to the security,
authorization, insurance, preparation, performance under this Agreement or any other juristic acts and contracts in connection with this Agreement, including service fees for legal counsel and any other expenses and damages arising out of all acts
specified in this Agreement, shall be solely borne by the Borrower. In addition, in the case of default by the Borrower under this Agreement, the Borrower agrees to pay all damages as incurred by the Lender due to the default of the Borrower,
including the expenses in connection with the warning, claim, demand, litigation, lawyers’ fees, fees in connection with legal action, and the judgment execution, enforcement of debts, and enforcement of security or other properties in full in
all respects. 

 The Borrower agrees to pay the stamp duties, fees, expenses or any amount as mentioned in the preceding
paragraph, in one or more amounts, to the government agency or the Lender or the person designated by the Lender (as the case may be) promptly or within the time as notified in writing by the charging government agency or the Lender or the person
designated by the Lender. (The Borrower acknowledges that the amount as notified by the Lender or the person designated by the Lender in such written notice shall be deemed correct and shall not be contested by the Borrower.) The Borrower agrees
that it shall be under the discretion of the Lender whether to proceed according to Article 10.10 and/or deduct such amount from the 

  

 Page 12 

 
amount requested to be drawn down or payable by the Lender to the Borrower, and/or to allow the Lender to exercise its discretion to advance such amount on
behalf of the Borrower with no requirement to notify the Borrower in advance. The Borrower agrees to compensate the amount advanced by the Lender to the Lender in full together with the interest thereon at the default rate from the date of the
advance until the Borrower has repaid the Lender in full. 
  

	10.9	In case the Borrower agrees to have any steps taken by the Lender under this Agreement, the Borrower agrees to treat this Agreement as the power of attorney authorizing the Lender
to take such steps. 

  

	10.10	In the case of default or failure to pay the principals, interests, fees, insurance premiums (if any), expenses, damages or any amount payable by the Borrower under this Agreement
to the Lender, the Borrower agrees that the Lender is entitled to exercise its discretion to deduct the amount from any money currently owned by the Borrower, or owed by the Lender to the Borrower, and/or to be owned or owed in the future, to pay
such debts to the Lender promptly without a requirement to notify the Borrower. 

  

	10.11	In the change in the loan currency each time, it shall be deemed by the Borrower and the Lender that it is made for the benefit of the Borrower; the Borrower and the Lender agree
that it shall not be deemed as a change in the material nature of the obligation and it shall not be a novation in any manner. 

  

	10.12	The Borrower agrees to consent for the Lender to assign its rights and/or obligations, responsibilities and/or benefits, including the security, under this Agreement, either in
whole or in part, to any person, and/or financial institution as the Lender may see appropriate, provided only that the written notice thereof shall be given to the Borrower. The Borrower also agrees to consent for the Lender to disclose the
information of the Borrower to the prospective assignee. However, the Borrower is strictly prohibited from assigning its rights and/or obligations, responsibilities and/or benefits, whether in whole or in part, under this Agreement to any person.

  

	10.13	With regard to the property placed with the Lender pursuant to Article 5, the Borrower acknowledges that if such property is kept on the Borrower’s premises or on the premises
of the Borrower’s agent or depositary, or where the Borrower or its agent or depositary keeps such property, it shall be deemed that the property is kept for and on behalf of the Lender, in which case the Borrower or its agent or depositary is
merely a depositary. The property shall not be moved for keeping in other place without consent in writing of the Lender. In case of any damage to the property, the Borrower shall be liable to indemnify the Lender in full. 

 

	10.14	Where a property is mortgaged and/or pledged as security, if the Lender enforces the mortgage and/or pledge and sell such property by public auction, and the net proceeds derived
from the sale is not sufficient to pay the debts, or if the Lender forecloses the mortgage and the value of the property is lower than the amount of debts, the Borrower agrees to pay the deficit amount from other properties of the Borrower until
full payment has been made. 

  

 Page 13 

	10.15	The Borrower acknowledges that any delay or failure to exercise the rights of the Lender under the law or pursuant to this Agreement shall not be deemed that the Lender has waived
its rights or given consent to the breach by the Borrower in such case. 

  

	10.16	The Borrower acknowledges that any writing, communication, demand, notice or any other document sent to the address specified as the address of the Borrower above, either sent by
hand, or by registered mail, or unregistered mail, shall be deemed to have been duly sent to the Borrower, regardless of whether any person has taken its delivery or not, and even if the delivery cannot be made because such address has been changed
or removed without written notice from the Borrower to the Lender of such change or removal, or if the delivery cannot be made because the specified address cannot be found, it shall be deemed that the Borrower has duly received and acknowledged
such writing, communication, demand, notice or any other document. 

  

	10.17	Where any provision or part of the Agreement becomes unenforceable, void, voidable or impossible for any reason whatsoever, the Borrower agrees that it shall not affect other
provisions or statements of the Agreement, which shall be deemed to remain binding and enforceable indefinitely. 

  

	10.18	In case of dispute and/or where it is necessary to enforce rights in court in connection with this Agreement, Thai law shall govern. 

 11 Additional conditions (if any) 
 The Borrower shall be able to draw
down the loan in the amount equal to 90% of the value of the machinery purchased. 
 The Borrower has thoroughly read and understood the contents of this
Agreement, and has signed this Agreement with seal (if any) affixed in the presence of witnesses on the date written above. 
  

					
	Signed	 	 -Signature-
	 	Borrower
		 	(FABRINET CO., LTD.)	 	
			
	Signed	 	 -Signature-
	 	Witness
		 	(Mr. Prompan Kongpolprom)	 	
			
	Signed	 	 -Signature-
	 	Witness
		 	(Miss Linda Apinan)	 	

  

 Page 14 

 Annex A 
 DRAWDOWN REQUEST 
  

					
		 		 	Made at                     
		 		 	Date                           

  
  

	Re:	Drawdown No.                      

  

	To:	Export-Import Bank of Thailand 

 We,
                                        ,
refer to the Loan Agreement in the amount of US$             made with Export-Import Bank of Thailand (hereinafter referred to as the “Lender”), dated
                     (hereinafter referred to as the “Loan Agreement”). We would like to draw down the loan from the Lender under
the conditions provided in the Loan Agreement as described below. 
  

	1.	We will draw down the loan on                     ,

  

	 	 ̈	in one-time drawdown in the amount of US$            
(                    ). 

  

	 	 ̈	in installments, and for installment no.             
(                    ) in the amount of US$            
(                    ). 

  

	2.	In making the drawdown under 1 above, we agree to 

  

	 	 ̈	to receive the loan in Baht, by agreeing to sell the US Dollar in the amount drawn down this time to the Lender, and agreeing to allow the Lender to apply the exchange rate as
provided in Article 2.4 of the Loan Agreement for the calculation of the amount in Baht. 

  

	 	 ̈	to receive the loan in US Dollar, and the supporting documents as required by the Lender and/or Bank of Thailand are attached. 

  

	3.	We hereby request the Lender to proceed with regard to the loan drawn under 1 as follows: 

  

	 	 ̈	to issue a check payable to
                                        ,
and deliver the check to
                                        .

  

	 	 ̈	to issue a check payable to
                                        
Bank, for payment of debts of
                                        ,
and deliver the check to
                                        .

  

	 	 ̈	to credit the amount in the name of
                                        ,
to account no.
                                        ,
at
                                        
Bank,
                                        
Office/Branch. 

  

 Page 15 

 We shall be responsible in all respects for all steps taken by the Lender as requested above. When the Lender has
proceeded according to the request above, it shall be deemed that we have received the money in such amount from the Lender in full, and it shall be deemed that the check issued by the Lender or the deposit slip regarding the depositing of money
into such account is an evidence of receipt by us of the money under the Loan Agreement. 
 We also hereby represent that we have fully satisfied the terms
and conditions of the Loan Agreement, that we have not become in default or breach, or done anything in violation of the provisions of the Loan Agreement, and that we will utilize the money so received for the purposes specified in the Loan
Agreement. 
 We therefore request your consideration to proceed as requested. 
  

					
	Signed	 	  
	 	Borrower
		 	(                                       
                 )	 	
			
	Signed	 	  
	 	Witness
		 	(                                       
                 )	 	
			
	Signed	 	  
	 	Witness
		 	(                                       
                 )	 	

  

 Page 16 

 Annex B 
 PREPAYMENT REQUEST 
  

					
		 		 	Made at                     
		 		 	Date                           

  

	Re:	Prepayment 

  

	To:	Export-Import Bank of Thailand 

 We,
                                        
    , refer to the Loan Agreement in the amount of US$             made with Export-Import Bank of Thailand (hereinafter referred to as the
“Lender”), dated                      (hereinafter referred to as the “Loan Agreement”). We would like to prepay the
principal of the loan pursuant to the conditions provided in Article 4.2 of the Loan Agreement in the amount of US$            
(                    ), on
                    . The amount used for this prepayment was derived by us from
                    , as described in the Attachment hereto. 
 We agree to pay the prepayment fee pursuant to the conditions provided in Article 4.2 of the Loan Agreement to the Lender in the amount of
US$             (                    ) on the above-mentioned date of
prepayment. 
 We therefore request your acknowledgement and proceeding pursuant to the terms provided in the Loan Agreement. 
  

					
	Signed	 	  
	 	Borrower
		 	(                                       
              )	 	
			
	Signed	 	  
	 	Witness
		 	(                                       
              )	 	
			
	Signed	 	  
	 	Witness
		 	(                                       
              )	 	

  

 Page 17 

 Annex C 
 EQUIPMENT LIST 
 (See Attachment) 
  

 Page 18 

 Attachment 1 
 Fabrinet Co., Ltd. 
 Equipment List 
  

			
	 Item No.
	  	 Description

	1	  	Screen printers
	2	  	Pick and place machines
	3	  	Glue dispenser machines
	4	  	X-Ray machines
	5	  	Reflow ovens
	6	  	Router systems
	7	  	Aqueous cleaning system
	8	  	Inspection system
	9	  	Palarization controller
	10	  	Bonding machines
	11	  	Temperature chambers
	12	  	AR coating chambers
	13	  	Test chamber models
	14	  	Network analyzers
	15	  	Tunable laser sources
	16	  	Optical power meters
	17	  	Polishing machines
	18	  	Splices
	19	  	Optical leak test system
	20	  	Inspection microscopes
	21	  	Automatic inspection machine
	22	  	Optical spectrum analyzer
	23	  	Scanning acoustic microscope
	24	  	Controlled atmosphere glove box

  

 Page 19 

 Attachment 2 
 Fabrinet Co., Ltd. 
 Equipment List 
  

					
	 Item No.
	  	 Description
	  	Amount (USD)
	 1
	  	Hitachi Chip Mounting system	  	400,000.00
	 2
	  	Hitachi Chip Mounting system	  	400,000.00
	 3
	  	GXH-I Option: BGA/CSP application and software CAD conversion software	  	70,000.00
	 4
	  	Refurbished HP/Agilent 3075 in-Circuit Tester	  	90,000.00
	 5
	  	S25 Siemens Pick and Place m/c s/n#004-12021052	  	343,755.25
	 6
	  	AOI m/c with Offline repair station include Software	  	105,650.34
	 7
	  	BGA rework station SRT2100RS s/n 0011601257	  	22,700.00
	 8
	  	Cyber Optic sentry 2000U-s/n 25065-paste height inpection m/c	  	6,526.25
	 9
	  	Pick&Place Placement station siplace S-25HM	  	180,000.00
	 10
	  	Automatic inspection machine (1998) s/n#103267/20 model GSI	  	27,020.63
	 11
	  	BTU Paragon-98 Re-flow oven with EDGE conveyor s/n#TDI-1	  	19,416.96
	 12
	  	Camelot 3800 s/n 3800-1107209-01 Auto epoxy dispenser	  	19,862.50
	 13
	  	SRT rework system s/n 00095-01149	  	28,000.00
	 14
	  	Saki tabel top PCB inspection s/n#821191 model BF18D-S	  	37,000.00
	 15
	  	Triotech 486 Pressurization system tester (Leak BOMB) with retrofit cost	  	6,950.00
	 16
	  	AOI Furukawa Welder s/n#YAG19	  	15,700.46
	 17
	  	Environment Chamber Z-8-1H/WA-AC COZ s/n#Z00233420	  	5,403.74
	 18
	  	Environment Chamber Z-8-1H/WA-AC COZ s/n#Z00233425	  	5,504.75
	 19
	  	Midas TM Finber Metalization system	  	280,000.00
	 20
	  	F&K 6400 Large Area Wedge Bonder s/n#03737	  	27,240.00
		  		  	 
		  		  	2,090,730.88
		  		  	 

  

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