Document:

Exhibit 10.3

 

Execution Version

 

AMENDMENT NO. 9 TO SECURITIES PURCHASE AGREEMENT

 

This AMENDMENT NO. 9 TO SECURITIES PURCHASE AGREEMENT AND WAIVER AND CONSENT (this “Amendment and Waiver”), is made and entered into as of April 23, 2015, by and among ZAZA ENERGY CORPORATION, a Delaware corporation (the “Company”), and each of the holders of Securities (as defined in the Securities Purchase Agreement, as defined below) that is a signatory to this Amendment.

 

RECITALS

 

1.                                      The Company and the holders of the Securities are parties to that certain Securities Purchase Agreement dated February 21, 2012, as amended by (a) a letter agreement dated as of March 1, 2012, (b) a letter agreement dated as of March 22, 2012, (c) that certain Waiver and Amendment No. 1 to Securities Purchase Agreement dated as of June 8, 2012, as amended by that certain letter agreement dated as of June 28, 2012 (the “First Amendment”), (d) that certain Waiver and Amendment No. 2 to Securities Purchase Agreement dated as of July 25, 2012, (e) that certain Waiver and Amendment No. 3 to Securities Purchase Agreement dated as of October 16, 2012 (the “Third Amendment”), (f) that certain Amendment No. 4 to Securities Purchase Agreement dated as of December 17, 2012, (g) that certain Amendment No. 5 to Securities Purchase Agreement and Amendment No. 1 to Sanchez Consent dated as of March 28, 2013, (h) that certain Amendment No. 6 to Securities Purchase Agreement dated March 12, 2014, (i) that certain Amendment No. 7 to Securities Purchase Agreement dated February 24, 2015 and (j) that certain Amendment No. 8 to Securities Purchase Agreement dated April 21, 2015 (as amended, the “Existing Securities Purchase Agreement”; and as amended by this Amendment and Waiver and as may be further amended, restated, supplemented or otherwise modified from time to time, the “Securities Purchase Agreement”).

 

2.                                      Pursuant to the Existing Securities Purchase Agreement, the Company issued, and the holders of Notes purchased, (a) the Company’s 8.00% Senior Secured Notes due February 21, 2017, in the aggregate principal amount of $100,000,000 (the “Notes”) and (b) the Company’s warrants to purchase 26,315,789 shares (before any adjustments that have been effected in accordance with the terms thereof) of the Company’s Common Stock (the “Warrants”).

 

3.                                      The Company is currently party to a term sheet with Alpha Capital Anstalt (the “Investor”) for the issuance of 2,500 shares of 5% non-voting perpetual convertible preferred stock with a stated value of $2,500,000 (the “ACA Preferred Stock”) and warrants (the “ACA Warrants”) to purchase 1,875,000 shares of common stock (the “ACA Financing Transaction”).

 

4.                                      The $1.00 conversion price and any potential adjustments thereto, the potential increases to the dividend rate and the terms of redemption, conflict with the prohibition in Section 7B(2) of the Securities Purchase Agreement on the issuance of Disqualified Stock.

 

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5.                                      The conversion price and any potential adjustments thereto, potential increases to the dividend rate, and certain redemption provisions may conflict with the prohibition in Section 7B(2) of the Securities Purchase Agreement on the issuance of Disqualified Stock

 

6.                                      Certain terms of the ACA Warrants, including the exercise price and any potential adjustments thereto and certain redemption provisions, may conflict with the prohibition in Section 7B(2) of the Securities Purchase Agreement on the issuance of Disqualified Stock.

 

7.                                      The Company shall be excused from complying with the terms of any repurchase or redemption obligation applicable to the ACA Preferred Stock and ACA Warrants which conflict with or may conflict with the prohibition in Section 7B(2) of the Securities Purchase Agreement on the issuance of Disqualified Stock for so long as any amounts remain outstanding under the Senior Secured Notes.

 

8.                                      The Company has requested that the Required Holders waive and consent to any breach by the Company of the Securities Purchase Agreement resulting from the issuance of Disqualified Stock pursuant to the ACA Financing Transaction (the “Consent and Waiver”).

 

9.                                      The Company and the Required Holders desire to amend the Existing Securities Purchase Agreement to prohibit the repayment or repurchase of the ACA Preferred Stock and the ACA Warrants for so long as as any amounts remain outstanding under the Senior Secured Notes (the “ACA Financing Transaction Amendment”).

 

10.                               The Company and the Required Holders of the Securities have agreed to make such amendments, subject to the terms and conditions set forth in this Amendment and Waiver and the Required Holders have agreed to such Consent and Waiver.

 

AGREEMENT

 

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto hereby covenant and agree to be bound as follows:

 

Section 1.                                          Capitalized Terms.  Capitalized terms used and not otherwise defined herein shall have the respective meanings assigned to them in the Securities Purchase Agreement, unless the context otherwise requires.

 

Section 2.                                          Amendments to Existing Securities Purchase Agreement.  Subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, the Existing Securities Purchase Agreement is hereby amended in the manner specified in Exhibit A hereto.  Such amendments are referred to herein collectively as the “Amendments”.

 

Section 3.                                          Effectiveness of Waiver and Consent and Amendment.  The Amendments shall become effective upon satisfaction of all of the following conditions:

 

(a)                                 Amendment and Waiver.  Execution and delivery of this Amendment and Waiver by the Company and each of the Required Holders of the Securities, and

 

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execution and delivery of the Guarantor Acknowledgement attached hereto by the Guarantors.

 

(b)                                 Representations and Warranties.  The representations and warranties in Section 5 shall be true and correct in all respects on the date hereof.

 

(c)                                  ACA Financing Transaction Documents.  Each of the Required Holders of Securities shall have received copies of the execution version of the securities purchase agreement with respect to the ACA Financing Transaction, the form of warrant certificate for the ACA Warrants and the form of the certificate of designations for the ACA Preferred Stock.

 

(d)                                 Expenses.  The Company shall have paid the reasonable fees and disbursements of the special counsel of the holders of the Securities in accordance with Section 10 below and the wire instructions set forth on Schedule B attached hereto.

 

Section 4.                                          Representations and Warranties.  To induce the Required Holders of the Securities to enter into this Amendment and Waiver and to consent to the Amendments, the Company hereby represents and warrants to each of the holders of Securities that:

 

(a)                                 the execution, delivery and performance of this Amendment and Waiver have been duly authorized by all requisite corporate authority or other action on the part of the Company, this Amendment and Waiver has been duly executed and delivered by the Company, and this Amendment and Waiver constitutes the legal, valid and binding obligations of the Company, enforceable against the Company in accordance with its terms;

 

(b)                                 each of the representations and warranties set forth in the Securities Purchase Agreement and the other Transaction Documents are true and correct in all material respects as of the date hereof, except (i) to the extent that such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date), (ii) that the financial statements referred to in Paragraph 9C shall be deemed to refer to the financial statements most recently delivered by the Company pursuant to Paragraph 6A(i) or 6A(ii), and (iii) as disclosed in the First Amendment or the Third Amendment;

 

(c)                                  no Default or Event of Default has occurred and is continuing as of the date hereof;

 

(d)                                 no events have taken place and no circumstances exist at the date hereof which would give any Credit Party a basis to assert a defense, offset or counterclaim to any claim of any holder of a Security with respect to the obligations of the Credit Parties;

 

(e)                                  the description of the the ACA Preferred Stock and the ACA Warrants contained in recitals 4, 5 and 6 is a true, correct and complete description of the terms of the ACA Preferred Stock and ACA Warrants which conflict with or may conflict with the prohibition in Section 7B(2) of the Securities Purchase Agreement on the issuance of Disqualified Stock; and

 

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(f)                                   the Company shall be excused from complying with the terms of any repurchase or redemption obligation applicable to the ACA Preferred Stock and ACA Warrants which conflict with or may conflict with the prohibition in Section 7B(2) of the Securities Purchase Agreement on the issuance of Disqualified Stock for so long as any amounts remain outstanding under the Senior Secured Notes.

 

Section 5.                                          Waiver and Consent.  Subject to the satisfaction of the applicable conditions specified in Section 3 and conditioned upon the accuracy of the representations and warranties contained herein, the Required Holders hereby waive the application of the definition of Disqualified Stock and any other restrictive covenants under the Securities Purchase Agreement to the ACA Financing Transaction and consent in all respects to the ACA Financing Transaction.

 

Section 6.                                          Transaction Document.  This Amendment and Waiver shall be deemed to constitute a Transaction Document for all purposes under the Securities Purchase Agreement.

 

Section 7.                                          Effect of Amendment and Waiver.  Except as set forth expressly herein, all terms of the Securities Purchase Agreement shall be and remain in full force and effect. The execution, delivery and effectiveness of this Amendment and Waiver shall not operate as a waiver of any right, power or remedy of the holders of Notes under the Securities Purchase Agreement, nor constitute a waiver of any provision of the Securities Purchase Agreement, except as expressly provided herein. Any and all notices, requests, certificates and other instruments executed and delivered after the execution and delivery of this Amendment and Waiver may refer to the Securities Purchase Agreement without making specific reference to this Amendment and Waiver, but nevertheless all such references shall include this Amendment and Waiver unless the context otherwise requires.

 

Section 8.                                          Release.

 

(a)                                 In consideration of the agreements of the holders of Securities contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Credit Party, on behalf of itself and its successors, assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably releases, remises and forever discharges each holder of Securities, and its successors and assigns, and its present and former shareholders, partners, members, managers, consultants, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents and other representatives, and all persons acting by, through, under or in concert with any of them (each holder of Securities and all such other Persons being hereinafter referred to collectively as the “Releasees” and individually as a “Releasee”) of and from all demands, actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of money, accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, recoupment, rights of setoff, demands and liabilities whatsoever (individually, a “Claim” and collectively, “Claims”) of every name and nature, known or unknown, contingent or mature, suspected or unsuspected, both at law and in equity, which any Credit Party or any of its respective successors, assigns, or other legal representatives may now or hereafter own, hold, have or claim to have against the Releasees or any of them for, upon, or by reason

 

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of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to the day and date of this Amendment and Waiver, including, without limitation, for or on account of, or in relation to, or in any way in connection with the Securities Purchase Agreement, or any of the other Transaction Documents or transactions thereunder or related thereto.

 

(b)                                 Each Credit Party understands, acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release.

 

(c)                                  Each Credit Party agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final, absolute and unconditional nature of the release set forth above.

 

(d)                                 In entering into this Amendment and Waiver, each Credit Party has consulted with, and has been represented by, legal counsel and expressly disclaims any reliance on any representations, acts or omissions by any of the Releasees and hereby agrees and acknowledges that the validity and effectiveness of the release set forth above does not depend in any way on any such representations, acts and/or omissions or the accuracy, completeness or validity hereof. The provisions of this Section 9 shall survive the termination of this Amendment and Waiver and the other Transaction Documents and the payment in full of the Notes.

 

(e)                                  Each Credit Party acknowledges and agrees that the release set forth above may not be changed, amended, waived, discharged or terminated orally.

 

Section 9.                                          Fees and Expenses; Indemnification.  Whether or not the Amendments becomes effective, the Company agrees to pay on demand all reasonable costs and expenses of the holders of the Securities (including the reasonable fees and expenses of the special counsel of the holders of the Securities) in connection with the preparation, negotiation, execution and delivery of this Amendment and Waiver as provided in Paragraph 13B(1) of the Securities Purchase Agreement. Nothing in this Section 10 shall limit the Company’s obligations pursuant to Paragraphs 13B(1) and 13B(2) of the Securities Purchase Agreement.

 

Section 10.                                   Governing Law.  THIS AMENDMENT AND WAIVER SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE INTERNAL LAWS OF THE STATE OF NEW YORK, EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAWS OF SUCH STATE THAT WOULD PERMIT THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

 

Section 11.                                   Severability.  Whenever possible, each provision of this Amendment and Waiver and any other statement, instrument or transaction contemplated hereby or thereby or relating hereto or thereto shall be interpreted in such manner as to be effective, valid and enforceable under the applicable law of any jurisdiction, but, if any provision of this Amendment

 

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and Waiver or any other statement, instrument or transaction contemplated hereby or thereby or relating hereto or thereto shall be held to be prohibited, invalid or unenforceable under the applicable law, such provision shall be ineffective in such jurisdiction only to the extent of such prohibition, invalidity or unenforceability, without invalidating or rendering unenforceable the remainder of such provision or the remaining provisions of this Amendment and Waiver or any other statement, instrument or transaction contemplated hereby or thereby or relating hereto or thereto in such jurisdiction, or affecting the effectiveness, validity or enforceability of such provision in any other jurisdiction.

 

Section 12.                                   Counterparts.  This Amendment and Waiver may be executed by one or more of the parties hereto in any number of separate counterparts, each of which shall be deemed an original and all of which, taken together, shall be deemed to constitute one and the same instrument. Delivery of an executed counterpart of this Amendment and Waiver by facsimile transmission or by electronic mail in pdf form shall be as effective as delivery of a manually executed counterpart hereof.

 

Section 13.                                   Binding Nature.  This Amendment and Waiver shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

Section 14.                                   Entire Understanding.  The Existing Securities Purchase Agreement, together with this Amendment and Waiver, set forth the entire understanding of the parties with respect to the matters set forth herein, and shall supersede any prior negotiations or agreements, whether written or oral, with respect thereto.

 

Section 15.                                   Headings.  The headings of the sections of this Amendment and Waiver are inserted for convenience only and shall not be deemed to constitute a part of this Amendment and Waiver.

 

Section 16.                                   Time is of the Essence.  Time is of the essence of this Amendment and Waiver.

 

[The remainder of this page is intentionally left blank.]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment and Waiver to be executed as of the date and year first above written.

 

 

	
 
    	
ZAZA   ENERGY CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Name:
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Title:
    	
 President and Chief Executive Officer
    

 

[AMENDMENT NO. 9 TO SECURITIES PURCHASE AGREEMENT]

 

 

	
 
    	
MSDC   ZEC INVESTMENTS, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Marcello Liguori
    
	
 
    	
Name:
    	
Marcello Liguori
    
	
 
    	
Title:
    	
Vice President
    

 

[AMENDMENT NO. 9 TO SECURITIES PURCHASE AGREEMENT]

 

 

	
 
    	
SENATOR   SIDECAR MASTER FUND LP
    
	
 
    	
 
    
	
 
    	
By:
    	
Senator Investment Group LP,
    
	
 
    	
 
    	
its investment manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Evan Gartenlaub
    
	
 
    	
Name:
    	
Evan Gartenlaub
    
	
 
    	
Title:
    	
General Counsel and
    
	
 
    	
 
    	
Chief Compliance Officer
    
				

 

[AMENDMENT NO. 9 TO SECURITIES PURCHASE AGREEMENT]

 

 

GUARANTOR ACKNOWLEDGEMENT

 

Each of the undersigned hereby acknowledges and agrees to the terms of the Amendment No. 9 to Securities Purchase Agreement, dated as of April 23, 2015 (the “Amendment and Waiver”), including, without limitation, Section 9 of the Amendment and Waiver, amending that certain Securities Purchase Agreement, dated February 21, 2012, as amended (as amended, the “Securities Purchase Agreement”), among ZaZa Energy Corporation, a Delaware corporation, and the holders of Securities party thereto. Each of the undersigned hereby confirms that the Guaranty Agreement to which the undersigned are a party remains in full force and effect after giving effect to the Amendment and Waiver and continues to be the valid and binding obligation of each of the undersigned, enforceable against each of the undersigned in accordance with its terms.

 

Capitalized terms used herein but not defined are used as defined in the Securities Purchase Agreement.

 

Dated as of April 23, 2015.

 

	
 
    	
ZAZA HOLDINGS, INC.,
    
	
 
    	
a Delaware corporation
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Name:
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Title:
    	
 President   and Chief Executive Officer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
ZAZA ENERGY, LLC,
    
	
 
    	
a Texas limited liability company
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Name:
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Title:
    	
 President   and Chief Executive Officer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
TOREADOR RESOURCES CORPORATION,
    
	
 
    	
a Delaware corporation
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Name:
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Title:
    	
 President   and Chief Executive Officer
    

 

[AMENDMENT NO. 9 TO SECURITIES PURCHASE AGREEMENT]

 

 

	
 
    	
ZAZA ENERGY DEVELOPMENT, LLC,
    
	
 
    	
a Texas limited liability company
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Name:
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Title:
    	
 President and Chief Executive Officer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
ZAZA PETROLEUM MANAGEMENT, LLC, a
   Texas limited liability company
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Name:
    	
 Todd   A. Brooks
    
	
 
    	
 
    	
Title:
    	
 President and Chief Executive Officer
    

 

[AMENDMENT NO. 9 TO SECURITIES PURCHASE AGREEMENT]

 

 

Exhibit A

 

(a)                                 Section 7 — Negative Covenants.  Section 7 of the Existing Securities Purchase Agreement is hereby amended by inserting the new Paragraph 7K at the end of such Section 7 as follows:

 

“‘7K Prepayments, Etc. of ACA Preferred Stock and ACA Warrants.  The Company covenants that it will not, and will not permit any of its Subsidiaries to directly or indirectly repay, prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any distribution of securities or other property or assets in respect of, the ACA Preferred Stock or ACA Warrants for so long as the Notes are outstanding.”

 

(i)                                     Paragraph 12B - Other Terms.  Paragraph 12B of the Existing Securities Purchase Agreement is hereby amended to insert the following definitions in their proper alphabetical order to read as follows:

 

“‘ACA Convertible Preferred Shares’ shall mean the 2,500 shares of 5% convertible preferred stock issued to Alpha Capital Anstalt and other investors with an aggregate stated value of $2,500,000 pursuant to that Securities Purchase Agreement, dated April 23, 2015, by and between the Company and the investors named therein.

 

‘ACA Warrants’ shall mean warrants exercisable for 1,875,000 shares of common stock issued to Alpha Capital Anstalt and other investors pursuant to that Securities Purchase Agreement, dated April 23, 2015, by and between the Company and the investors named therein.”AMKR 3.31.15 Ex 10.1

Exhibit 10.1
AMKOR TECHNOLOGY, INC.
AMENDED AND RESTATED 2007 EQUITY INCENTIVE PLAN
STOCK OPTION AWARD AGREEMENT 

Unless otherwise defined herein, the terms defined in the Amkor Technology, Inc. Amended and Restated 2007 Equity Incentive Plan (the “Plan”) will have the same defined meanings in this Stock Option Award Agreement (the “Award Agreement”). 

Participant Name:    

Address:         

You have been granted an Option to purchase Common Stock of Amkor Technology, Inc. (the “Company”), subject to the terms and conditions of the Plan and this Award Agreement, as follows:

Grant Number    

Date of Grant    

Vesting Commencement Date    See Vesting Schedule Below

Exercise Price per Share    

Total Number of Shares Granted    

Type of Option:    _____ Incentive Stock Option  _____ Nonstatutory Stock Option

Term/Expiration Date:    

1.    Grant of Option. The Company hereby grants to the individual named in this Award Agreement (the “Participant”) an option (the “Option”) to purchase the number of Shares, as set forth in this Award Agreement, at the exercise price per Share set forth in this Award Agreement (the “Exercise 

Price”), subject to all of the terms and conditions in this Award Agreement and the Plan, which is incorporated herein by reference. In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Award Agreement, the terms and conditions of the Plan shall prevail. 

If designated in the Award Agreement as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option (“NSO”). 

2.    Vesting Schedule. Except as provided in Section 4 and subject to any acceleration provisions contained in the Plan or set forth below, this Option will become vested and exercisable in accordance with the following schedule. Shares scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in Participant in accordance with any of the provisions of this Award Agreement, unless Participant will have been continuously a Service Provider from the Date of Grant until the date such vesting is scheduled to occur:

3.    Termination Period. In the event that Participant ceases to be a Service Provider, the portion of the Option that is not vested as of such date shall be immediately forfeited with no consideration due Participant and the portion of the Option that is vested and exercisable as of the date of such cessation shall remain exercisable (except as otherwise provided below): (x) if Participant ceases to be a Service Provider due to Participant’s resignation for any reason (other than Retirement (as defined in the Plan)) or due to his termination by the Company for any reason, for three (3) months after Participant ceases to be a Service Provider; (y) if Participant ceases to be a Service Provider due to his death or Disability, for twenty-four (24) months after Participant ceases to be a Service Provider; and (z) if Participant ceases to be a Service Provider due to Retirement, for twenty-four (24) months following Participant’s Retirement. If the exercise of the Option following the termination of Participant’s status as a Service Provider (other than upon Participant’s death or Disability) would result in liability under Section 16(b), then the vested portion of the Option will terminate on the earlier of (A) the Term/Expiration Date or (B) the tenth (10th) day after the last date on which such exercise would result in such liability under Section 16(b). If the exercise of the Option following the termination of Participant’s status as a Service Provider (other than upon Participant’s death or Disability) would be prohibited at any time solely because the issuance of Shares would violate the registration requirements 

under the Securities Act, then the vested portion of the Option will terminate on the earlier of (A) the Term/Expiration Date or (B)  three (3) months after the last day on which the exercise of the Option would be in violation of such registration requirements. Notwithstanding anything contained herein to the contrary, in no event shall this Option be exercised later than the Term/Expiration Date as provided above. In addition, the Option may be subject to earlier termination as provided in Section 16(c) of the Plan. 

4.    Administrator Discretion. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the unvested Option at any time, subject to the terms of the Plan. If so accelerated, such Option will be considered as having vested as of the date specified by the Administrator.

5.    Exercise of Option. This Option is exercisable during its term in accordance with the Vesting Schedule set out in the Award Agreement and the applicable provisions of the Plan and this Award Agreement. This Option is exercisable by completing the transaction through the Company's captive broker assisted transactions via voice response system or the Internet secured transaction system. 

The Option shall be deemed to be exercised upon receipt by the Company of a fully executed exercise notice or other form as may be required by the Company (the “Exercise Notice”). The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), together with any applicable tax withholding. No Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with Applicable Laws.

6.    Method of Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of Participant: 

(a)    Cash; 

(b)    Check; 

(c)    Consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan;

(d)    Surrender of other Shares which have a Fair Market Value on the date of exercise equal to the aggregate Exercise Price of the Exercised Shares, provided that accepting such Shares, in the sole discretion of the Administrator, will not result in any adverse accounting consequences to the Company; or

(e)    Retention by the Company of a number of the Shares otherwise deliverable to the Participant on exercise of the Option having an aggregate Fair Market Value (determined on the date of exercise) equal to the aggregate Exercise Price of the Exercised Shares, unless, in the case of Participants who are not subject to the reporting requirements of Section 16 of the Exchange Act, such right is revoked by the Administrator prior to the time of exercise. 

In all events, the aggregate Exercise Price must be paid to the Company within three days after the date of exercise.

7.    Tax Obligations.

(a)    Withholding Taxes. Notwithstanding any contrary provision of this Award Agreement, no certificate representing the Shares will be issued to Participant, unless and until satisfactory arrangements (as determined by the Administrator) have been made by Participant with respect to the payment of income, employment and other taxes which the Company determines must be withheld with respect to such exercise. If Participant fails to make satisfactory arrangements for the payment of any required tax withholding obligations hereunder at the time of the Option exercise, Participant acknowledges and agrees that the Company may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise. A Participant may satisfy his or her tax withholding obligations by directing the Company to retain a number of the Shares otherwise deliverable to the Participant upon exercise of the Option having an aggregate Fair Market Value (determined on the date of exercise) equal to the minimum withholding taxes due, unless, in the case of Participants who are not subject to the reporting requirements of Section 16 of the Exchange Act, such right is revoked by the Administrator prior to the time of exercise.

(b)    Notice of Disqualifying Disposition of ISO Shares. If the Option granted to Participant herein is an ISO, and if Participant sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Date of Grant or (ii) the date one (1) year after the date of exercise, Participant will immediately notify the Company in writing of such disposition. Participant agrees that Participant may be subject to income tax withholding by the Company on the compensation income recognized by Participant as a result of such disposition. 

(c)    Code Section 409A. The Option is intended to comply with, or be exempt from, Code Section 409A and all regulations, guidance, compliance programs and other interpretative authority thereunder, and shall be interpreted in a manner consistent therewith. Notwithstanding anything contained herein to the contrary, in the event the Option is subject to Code Section 409A, the Company may, in its sole discretion and without Participant’s prior consent, amend the Plan and/or the Award Agreement, adopt policies and procedures, or take any other actions as deemed appropriate by the Company to (i) exempt the Option from the application of Code Section 409A, (ii) preserve the intended tax treatment of the Option or (iii) comply with the requirements of Code Section 409A. Notwithstanding anything contained herein to the contrary, in no event shall the Company or any Subsidiary have any liability or obligation to Participant or any other person in the event that the Plan or the Option is not exempt from, or compliant with, Code Section 409A.

8.    Rights as Stockholder. Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Participant. After such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company with respect to such Shares, including voting and receipt of dividends and distributions on such Shares. 

9.    No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE OPTION PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THE OPTION OR ACQUIRING 

SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 

10.    Address for Notices. Any notice to be given to the Company under the terms of this Award Agreement will be addressed to the Company, in care of its Stock Plan Administrator at Amkor Technology, Inc., 2045 East Innovation Circle, Tempe, Arizona, 85284, or at such other address as the Company may hereafter designate in writing. 

11.    Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Participant only by Participant. 

12.    Binding Agreement. Subject to the limitation on the transferability of this grant contained herein, this Award Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto (provided that neither the Option nor this Award Agreement may be assigned by Participant). 

13.    Additional Conditions to Issuance of Stock. If at any time the Company determines, in its discretion, that the listing, registration or qualification of the Shares upon any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant (or his or her estate), such issuance will not occur unless and until such listing, registration, qualification, consent or approval has been effected or obtained free of any conditions not acceptable to the Company. Assuming such compliance, for income tax purposes the Exercised Shares will be considered transferred to Participant on the date the Option is exercised with respect to such Exercised Shares.

14.    Administrator Authority. The Administrator has the power to interpret the Plan and this Award Agreement and to adopt such rules for the administration, interpretation and application of the Plan and this Award Agreement as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Shares subject to the Option have vested). All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all other interested persons. No member of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Award Agreement.

15.    Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to the Option or the Plan by electronic means or request Participant’s consent to participate in the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or another third party designated by the Company.

16.    Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Award Agreement.

17.    Agreement Severable. In the event that any provision in this Award Agreement is held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Award Agreement.

18.    Modifications to the Award Agreement. The Plan and this Award Agreement constitute the entire understanding of the parties on the subjects covered herein. Participant expressly warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations, or inducements other than those contained herein. Except as otherwise provided herein or in the Plan, modifications to this Award Agreement can be made only in an express written contract executed by Participant and a duly authorized officer of the Company. 

19.    Amendment, Suspension or Termination of the Plan. By accepting this Award, Participant expressly warrants that he or she has received an Option under the Plan, and has received, read and understands the Plan. Participant understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at any time.

20.    Governing Law. This Award Agreement will be governed by the laws of the State of Delaware without giving effect to the conflict of law principles thereof. For purposes of litigating any dispute that arises under this Option or this Award Agreement, the parties hereby submit to and consent to the jurisdiction of the State of Arizona, and agree that such litigation will be conducted solely in the courts of Maricopa County, Arizona, or the federal courts for the United States for the District of Arizona.

21.    Agreement. Participant’s receipt of the Option and this Award Agreement constitutes Participant’s agreement to be bound by the terms and conditions of this Award 

Agreement and the Plan. Participant’s signature is not required in order to make this Award Agreement effective.

Optionee:                                        Amkor Technology, Inc.

________________________________        By:  _________________________    
(Name)    
        
________________________________                                ______________________________
Date:                             Date:

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