Document:

EX-10.2.1

 Exhibit 10.2.1 
 FABRINET 
 2010 PERFORMANCE INCENTIVE PLAN 

(As amended December 20, 2010, December 20, 2012, and June 26, 2014) 

 

	1.	PURPOSE OF PLAN 

 The
purpose of this Fabrinet 2010 Performance Incentive Plan (this “Plan”) of Fabrinet, an exempted company formed under the laws of the Cayman Islands (the “Company”), is to promote the success of the Company and to
increase shareholder value by providing an additional means through the grant of awards to attract, motivate, retain and reward selected employees and other eligible persons. 

 

	2.	ELIGIBILITY 

 The
Administrator (as such term is defined in Section 3.1) may grant awards under this Plan only to those persons that the Administrator determines to be Eligible Persons. An “Eligible Person” is any person who is either:
(a) an officer (whether or not a director) or employee of the Company or one of its Subsidiaries; (b) a director of the Company or one of its Subsidiaries; or (c) an individual consultant or advisor who renders or has rendered bona
fide services (other than services in connection with the offering or sale of securities of the Company or one of its Subsidiaries in a capital-raising transaction or as a market maker or promoter of securities of the Company or one of its
Subsidiaries) to the Company or one of its Subsidiaries and who is selected to participate in this Plan by the Administrator; provided, however, that a person who is otherwise an Eligible Person under clause (c) above may participate in this
Plan only if such participation would not adversely affect either the Company’s eligibility to use Form S-8 to register under the Securities Act of 1933, as amended (the “Securities Act”), the offering and sale of shares
issuable under this Plan by the Company or the Company’s compliance with any other applicable laws. An Eligible Person who has been granted an award (a “participant”) may, if otherwise eligible, be granted additional awards if the
Administrator shall so determine. As used herein, “Subsidiary” means any corporation or other entity a majority of whose outstanding voting shares or voting power is beneficially owned directly or indirectly by the Company; and
“Board” means the Board of Directors of the Company. 
  

	3.	PLAN ADMINISTRATION 

  

	 	3.1	 The Administrator. This Plan shall be administered by and all awards under this Plan shall be authorized by the Administrator. The
“Administrator” means the Board or one or more committees appointed by the Board, including the compensation committee, or another committee (within its delegated authority) to administer all or certain aspects of this Plan. Any
such committee shall be comprised solely of one or more directors or such number of directors as may be required under applicable law. A committee may delegate some or all of its authority to another committee so constituted. The Board or a
committee comprised solely of directors may also delegate, to the extent permitted by the Companies Law (2004 Revision) of the Cayman Islands and any other applicable law, to one or more officers of the Company, its powers under this Plan
(a) to designate the officers and employees of the Company and its Subsidiaries who 

  
 1 

	 	
will receive grants of awards under this Plan, and (b) to determine the number of shares subject to, and the other terms and conditions of, such awards. The Board may delegate different
levels of authority to different committees with administrative and grant authority under this Plan. Unless otherwise provided in the Amended and Restated Memorandum and Articles of Association of the Company or the applicable charter of any
Administrator: (a) a majority of the members of the acting Administrator shall constitute a quorum, and (b) the vote of a majority of the members present assuming the presence of a quorum or the unanimous written consent of the members of
the Administrator shall constitute action by the acting Administrator. 

 With respect to awards intended to
satisfy the requirements for performance-based compensation under Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), this Plan shall be administered by a committee consisting solely of two or more
outside directors (as this requirement is applied under Section 162(m) of the Code); provided, however, that the failure to satisfy such requirement shall not affect the validity of the action of any committee otherwise duly authorized and
acting in the matter. Award grants, and transactions in or involving awards, intended to be exempt under Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), must be duly and timely authorized by
the Board or a committee consisting solely of two or more non-employee directors (as this requirement is applied under Rule 16b-3 promulgated under the Exchange Act). To the extent required by any applicable securities exchange, this Plan shall be
administered by a committee composed entirely of independent directors (within the meaning of the applicable listing agency). 
  

	 	3.2	Powers of the Administrator. Subject to the express provisions of this Plan, the Administrator is authorized and empowered to do all things
necessary or desirable in connection with the authorization of awards and the administration of this Plan (in the case of a committee or delegation to one or more officers, within the authority delegated to that committee or person(s)), including,
without limitation, the authority to: 

  

	 	(a)	determine eligibility and, from among those persons determined to be eligible, the particular Eligible Persons who will receive an award under this Plan;

  

	 	(b)	grant awards to Eligible Persons, determine the price at which securities will be offered or awarded and the number of securities to be offered or awarded to any of
such persons, determine the other specific terms and conditions of such awards consistent with the express limits of this Plan, establish the installments (if any) in which such awards shall become exercisable or shall vest (which may include,
without limitation, performance and/or time-based schedules), or determine that no delayed exercisability or vesting is required, establish any applicable performance targets, and establish the events of termination or reversion of such awards;

  
 2 

	 	(c)	approve the forms of award agreements (which need not be identical either as to type of award or among participants); 

 

	 	(d)	construe and interpret this Plan and any agreements defining the rights and obligations of the Company, its Subsidiaries, and participants under this Plan, further
define the terms used in this Plan, and prescribe, amend and rescind rules and regulations relating to the administration of this Plan or the awards granted under this Plan; 

 

	 	(e)	cancel, modify, or waive the Company’s rights with respect to, or modify, discontinue, suspend, or terminate any or all outstanding awards, subject to any required
consent under Section 8.7.5; 

  

	 	(f)	accelerate or extend the vesting or exercisability or extend the term of any or all such outstanding awards (in the case of options or share appreciation rights, within
the maximum ten-year term of such awards) in such circumstances as the Administrator may deem appropriate (including, without limitation, in connection with a termination of employment or services or other events of a personal nature) subject to any
required consent under Section 8.7.5; 

  

	 	(g)	adjust the number of Ordinary Shares (as defined in Section 4.1 below) subject to any award, adjust the price of any or all outstanding awards or otherwise change
previously imposed terms and conditions, in such circumstances as the Administrator may deem appropriate, in each case subject to Sections 4 and 8.7, and provided that in no case (except due to an adjustment contemplated by Section 7 or any
repricing that may be approved by shareholders) shall such an adjustment constitute a repricing (i.e. a reduction by amendment, cancellation and regrant, exchange or other means including an exchange for cash or another award) of the per share
exercise or base price of any option or share appreciation right; 

  

	 	(h)	determine the date of grant of an award, which may be a designated date after but not before the date of the Administrator’s action (unless otherwise designated by
the Administrator, the date of grant of an award shall be the date upon which the Administrator took the action granting an award); 

  

	 	(i)	determine whether, and the extent to which, adjustments are required pursuant to Section 7 hereof and authorize the termination, conversion, substitution or
succession of awards upon the occurrence of an event of the type described in Section 7; 

  

	 	(j)	acquire or settle (subject to Sections 7 and 8.7) rights under awards in cash, shares of equivalent value, or other consideration, provided, however, that in no case
without shareholder approval shall the Corporation effect a “repricing” of a share option or share appreciation right granted under this Plan by purchasing the option or share appreciation right at a time when the exercise or base price of
the award is greater than the fair market value of an Ordinary Share; and 

  

	 	(k)	determine the fair market value of the Ordinary Shares or awards under this Plan from time to time and/or the manner in which such value will be determined.

  
 3 

	 	3.3	Binding Determinations. Any action taken by, or inaction of, the Company, any Subsidiary, or the Administrator relating or pursuant to this Plan
and within its authority hereunder or under applicable law shall be within the absolute discretion of that entity or body and shall be conclusive and binding upon all persons. Neither the Board nor any Board committee, nor any member thereof or
person acting at the direction thereof, shall be liable for any act, omission, interpretation, construction or determination made in good faith in connection with this Plan (or any award made under this Plan), and all such persons shall be entitled
to indemnification and reimbursement by the Company in respect of any claim, loss, damage or expense (including, without limitation, attorneys’ fees) arising or resulting therefrom to the fullest extent permitted by law and/or under any
directors and officers liability insurance coverage that may be in effect from time to time. 

  

	 	3.4	Reliance on Experts. In making any determination or in taking or not taking any action under this Plan, the Board or a committee, as the case may
be, may obtain and may rely upon the advice of experts, including employees and professional advisors to the Company. No director, officer or agent of the Company or any of its Subsidiaries shall be liable for any such action or determination taken
or made or omitted in good faith. 

  

	 	3.5	Delegation. The Administrator may delegate ministerial, non-discretionary functions to individuals who are officers or employees of the Company or
any of its Subsidiaries or to third parties. 

  

	4.	ORDINARY SHARES SUBJECT TO THE PLAN; SHARE LIMITS 

  

	 	4.1	Shares Available. Subject to the provisions of Section 7.1, the shares that may be delivered under this Plan shall be the Company’s
authorized but unissued Ordinary Shares. For purposes of this Plan, “Ordinary Shares” shall mean the ordinary shares of the Company and such other securities or property as may become the subject of awards under this Plan, or may
become subject to such awards, pursuant to an adjustment made under Section 7.1. 

  

	 	4.2	 Share Limits. The maximum number of Ordinary Shares that may be delivered pursuant to awards granted to Eligible Persons under
this Plan (the “Share Limit”) is equal to the sum of (1) five million seven hundred thousand (5,700,000) shares, plus (2) the number of any shares subject to options granted under the Fabrinet 1999 Share Option Plan
and outstanding on the effective date of the first registration statement that is filed by the Company and declared effective pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Registration
Date”), which expire, or for any reason are cancelled 

  
 4 

	 	
or terminated, on or after the Registration Date without being exercised. The maximum number of Ordinary Shares that may be delivered pursuant to options qualified as incentive stock options
(within the meaning of Code Section 422) granted under this Plan is five million seven hundred thousand (5,700,000) shares. Each of the foregoing numerical limits is subject to adjustment as contemplated by Section 4.3,
Section 7.1, and Section 8.11. 

  

	 	4.3	Lapsed Awards. Shares subject to an award granted under this Plan shall be counted against the share limits of this Plan and shall not become
available for subsequent awards under this Plan, regardless of whether the award is settled in cash or a form other than Ordinary Shares, expires or for any reason is cancelled or terminated, is forfeited, fails to vest, or for any other reason is
not paid or delivered under this Plan, is exchanged by a participant or withheld by the Company as full or partial payment in connection with the award, or is exchanged by a participant or withheld by the Company or one of its Subsidiaries to
satisfy the tax withholding obligations related to the award. Refer to Section 8.11 for application of the foregoing share limits with respect to assumed awards. 

 

	 	4.4	Reservation of Shares; No Fractional Shares; Minimum Issue. The Company shall at all times reserve a number of Ordinary Shares sufficient to cover
the Company’s obligations and contingent obligations to deliver shares with respect to awards then outstanding under this Plan (exclusive of any dividend equivalent obligations to the extent the Company has the right to settle such rights in
cash). No fractional shares shall be delivered under this Plan. The Administrator may pay cash in lieu of any fractional shares in settlements of awards under this Plan. No fewer than 100 shares may be purchased on exercise of any award (or, in the
case of share appreciation or purchase rights, no fewer than 100 rights may be exercised at any one time) unless the total number purchased or exercised is the total number at the time available for purchase or exercise under the award.

  

	5.	AWARDS 

  

	 	5.1	Type and Form of Awards. The Administrator shall determine the type or types of award(s) to be made to each selected Eligible Person. Awards may be
granted singly, in combination or in tandem. Awards also may be made in combination or in tandem with, in replacement of, as alternatives to, or as the payment form for grants or rights under any other employee or compensation plan of the Company or
one of its Subsidiaries. The types of awards that may be granted under this Plan are: 

 5.1.1 Share
Options. A share option is the grant of a right to purchase a specified number of Ordinary Shares during a specified period as determined by the Administrator. An option may be intended as an incentive stock option within the meaning of
Section 422 of the Code (an “ISO”) or a nonqualified share option (an option not intended to be an ISO). The award agreement for an option will indicate if the option is intended as an ISO; otherwise it will be deemed to be a
nonqualified share option. The maximum term of each option (ISO or nonqualified) shall be ten (10) years. The per share exercise price for each option shall be not less than 100% of the fair market value of an Ordinary Share on the

  
 5 

 
date of grant of the option. When an option is exercised, the exercise price for the shares to be purchased shall be paid in full in cash or such other method permitted by the Administrator
consistent with Section 5.4. Unless otherwise set forth in the applicable award agreement, options will be scheduled to vest as to twenty-five (25%) of the shares granted under the award on each
annual anniversary of the award’s grant date over a period of four (4) years, subject to the award recipient’s continued employment or other service with the Company or its Subsidiaries through each applicable vesting date.

 5.1.2 Additional Rules Applicable to ISOs. To the extent that the aggregate fair market value (determined
at the time of grant of the applicable option) of shares with respect to which ISOs first become exercisable by a participant in any calendar year exceeds $100,000, taking into account both Ordinary Shares subject to ISOs under this Plan and shares
subject to ISOs under all other plans of the Company or one of its Subsidiaries (or any parent or predecessor corporation to the extent required by and within the meaning of Section 422 of the Code and the regulations promulgated thereunder),
such options shall be treated as nonqualified share options. In reducing the number of options treated as ISOs to meet the $100,000 limit, the most recently granted options shall be reduced first. To the extent a reduction of simultaneously granted
options is necessary to meet the $100,000 limit, the Administrator may, in the manner and to the extent permitted by law, designate which Ordinary Shares are to be treated as shares acquired pursuant to the exercise of an ISO. ISOs may only be
granted to employees of the Company or one of its subsidiaries (for this purpose, the term “subsidiary” is used as defined in Section 424(f) of the Code, which generally requires an unbroken chain of ownership of at least 50%
of the total combined voting power of all classes of shares of each subsidiary in the chain beginning with the Company and ending with the subsidiary in question). There shall be imposed in any award agreement relating to ISOs such other terms and
conditions as from time to time are required in order that the option be an “incentive stock option” as that term is defined in Section 422 of the Code. No ISO may be granted to any person who, at the time the option is granted, owns
(or is deemed to own under Section 424(d) of the Code) outstanding Ordinary Shares possessing more than 10% of the total combined voting power of all classes of shares of the Company, unless the exercise price of such option is at least 110% of
the fair market value of the shares subject to the option and such option by its terms is not exercisable after the expiration of five (5) years from the date such option is granted. 

5.1.3 Share Appreciation Rights. A share appreciation right or “SAR” is a right to receive a
payment, in cash and/or Ordinary Shares, equal to the excess of the fair market value of a specified number of Ordinary Shares on the date the SAR is exercised over the “base price” of the SAR, which base price shall be set forth in the
applicable award agreement and shall be not less than 100% of the fair market value of an Ordinary Share on the date of grant of the SAR. The maximum term of an SAR shall be ten (10) years. Unless otherwise set forth in the applicable award
agreement, SAR awards will be scheduled to vest as to twenty-five (25%) of the shares granted under the award on each annual anniversary of the award’s grant date over a period of four (4) years, subject to the award recipient’s
continued employment or other service with the Company or its Subsidiaries through each applicable vesting date. 

  
 6 

 5.1.4 Other Awards. The other types of awards that may be granted under
this Plan include: (a) share bonuses, restricted shares, performance shares, share units, phantom shares, dividend equivalents, or similar rights to purchase or acquire shares, whether at a fixed or variable price or ratio related to the
Ordinary Shares, upon the passage of time, the occurrence of one or more events, or the satisfaction of performance criteria or other conditions, or any combination thereof; or (b) any similar securities with a value derived from the value of
or related to the Ordinary Shares and/or returns thereon. Unless otherwise set forth in the applicable award agreement, such awards will be scheduled to vest as to twenty-five (25%) of the shares granted
under the award on each annual anniversary of the award’s grant date over a period of four (4) years, subject to the award recipient’s continued employment or other service with the Company or its Subsidiaries through each applicable
vesting date. 
  

	 	5.2	Award Agreements. Each award shall be evidenced by either (1) a written award agreement in a form approved by the Administrator and executed
by the Company by an officer duly authorized to act on its behalf, or (2) an electronic notice of award grant in a form approved by the Administrator and recorded by the Company (or its designee) in an electronic recordkeeping system used for
the purpose of tracking award grants under this Plan generally (in each case, an “award agreement”), as the Administrator may provide and, in each case and if required by the Administrator, executed or otherwise electronically accepted by
the recipient of the award in such form and manner as the Administrator may require. The Administrator may authorize any officer of the Company (other than the particular award recipient) to execute any or all award agreements on behalf of the
Company. The award agreement shall set forth the material terms and conditions of the award as established by the Administrator consistent with the express limitations of this Plan. 

 

	 	5.3	Deferrals and Settlements. Payment of awards may be in the form of cash, Ordinary Shares, other awards or combinations thereof as the Administrator
shall determine, and with such restrictions as it may impose. The Administrator may also require or permit participants to elect to defer the issuance of shares or the settlement of awards in cash under such rules and procedures as it may establish
under this Plan. The Administrator may also provide that deferred settlements include the payment or crediting of interest or other earnings on the deferral amounts, or the payment or crediting of dividend equivalents where the deferred amounts are
denominated in shares. 

  

	 	5.4	Consideration for Ordinary Shares or Awards. The purchase price for any award granted under this Plan or the Ordinary Shares to be delivered
pursuant to an award, as applicable, may be paid by means of any lawful consideration as determined by the Administrator, including, without limitation, one or a combination of the following methods: 

 

	 	•	 	 services rendered by the recipient of such award; 

  
 7 

	 	•	 	 cash, check payable to the order of the Company, or electronic funds transfer; 

 

	 	•	 	 notice and third party payment in such manner as may be authorized by the Administrator; 

 

	 	•	 	 if approved by the Administrator, the delivery of previously owned Ordinary Shares; 

 

	 	•	 	 if approved by the Administrator, by a reduction in the number of shares otherwise deliverable pursuant to the award; or 

 

	 	•	 	 if approved by the Administrator, subject to such procedures as the Administrator may adopt, pursuant to a “cashless exercise” with a third
party who provides financing for the purposes of (or who otherwise facilitates) the purchase or exercise of awards. 

 In no event shall any shares newly-issued by the Company be issued for less than the minimum lawful consideration for such shares or for consideration other than consideration permitted by applicable
state law. Ordinary Shares used to satisfy the exercise price of an option shall be valued at their fair market value on the date of exercise. The Company will not be obligated to deliver any shares unless and until it receives full payment of the
exercise or purchase price therefor and any related withholding obligations under Section 8.5 and any other conditions to exercise or purchase have been satisfied. Unless otherwise expressly provided in the applicable award agreement, the
Administrator may at any time eliminate or limit a participant’s ability to pay the purchase or exercise price of any award or shares by any method other than cash payment to the Company. 

 

	 	5.5	 Definition of Fair Market Value. For purposes of this Plan, “fair market value” shall mean, unless otherwise determined
or provided by the Administrator in the circumstances, the last price (in regular trading) for an Ordinary Share as furnished by the Financial Industry Regulatory Authority (the “FINRA”) through any established stock exchange or a national
market system, including without limitation the New York Stock Exchange, the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market, or another applicable listing agency (the “Stock
Market”) for the date in question or, if no sales of Ordinary Shares were reported on the Stock Market on that date, the last price (in regular trading) for an Ordinary Share as furnished through the Stock Market for the next preceding day on
which sales of Ordinary Shares were reported by the FINRA. The Administrator may, however, provide with respect to one or more awards that the fair market value shall equal the last price for an Ordinary Share as furnished by the FINRA through the
Stock Market on the last trading day preceding the date in question or the average of the high and low trading prices of an Ordinary Share as furnished by the FINRA through the Stock Market for the date in question or the most recent trading day. If
the Ordinary Shares are no longer listed or is no longer actively traded on the Stock Market as of the applicable date, the fair market value of the Ordinary Shares shall be the value as reasonably determined by the Administrator for purposes of the
award in the circumstances. The Administrator also may adopt a different 

  
 8 

	 	
methodology for determining fair market value with respect to one or more awards if a different methodology is necessary or advisable to secure any intended favorable tax, legal or other
treatment for the particular award(s) (for example, and without limitation, the Administrator may provide that fair market value for purposes of one or more awards will be based on an average of closing prices (or the average of high and low daily
trading prices) for a specified period preceding the relevant date). 

  

	 	5.6	Transfer Restrictions. 

 5.6.1 Limitations on Exercise and Transfer. Unless otherwise expressly provided in (or pursuant to) this Section 5.6 or required by applicable law, (a) all awards are
non-transferable and shall not be subject in any manner to sale, transfer, anticipation, alienation, assignment, pledge, encumbrance or charge; (b) awards shall be exercised only by the participant; and (c) amounts payable or shares
issuable pursuant to any award shall be delivered only to (or for the account of) the participant. 
 5.6.2
Exceptions. The Administrator may permit awards to be exercised by and paid to, or otherwise transferred to, family members (or trusts or other entities on their behalf) or charitable organizations or entities pursuant to such
conditions and procedures, including limitations on subsequent transfers, as the Administrator may, in its sole discretion, establish in writing. Any permitted transfer shall be subject to compliance with applicable federal and state securities laws
and shall not be for value (other than nominal consideration, settlement of marital property rights, or for interests in an entity in which more than 50% of the voting interests are held by the Eligible Person or by the Eligible Person’s family
members). 
 5.6.3 Further Exceptions to Limits on Transfer. The exercise and transfer restrictions in
Section 5.6.1 shall not apply to: 
  

	 	(a)	transfers to the Company (for example, in connection with the expiration or termination of the award); 

 

	 	(b)	the designation of a beneficiary to receive benefits in the event of the participant’s death or, if the participant has died, transfers to or exercise by the
participant’s beneficiary, or, in the absence of a validly designated beneficiary, transfers by will or the laws of descent and distribution; 

  

	 	(c)	subject to any applicable limitations on ISOs, transfers to a family member (or former family member) pursuant to a domestic relations order if approved or ratified by
the Administrator; 

  

	 	(d)	if the participant has suffered a disability, permitted transfers or exercises on behalf of the participant by his or her legal representative; or

  

	 	(e)	the authorization by the Administrator of “cashless exercise” procedures with third parties who provide financing for the purpose of (or who otherwise
facilitate) the exercise of awards consistent with applicable laws and the express authorization of the Administrator. 

  
 9 

	 	5.7	International Awards. One or more awards may be granted to Eligible Persons who provide services to the Company or one of its Subsidiaries outside
of the United States. Any awards granted to such persons may be granted pursuant to the terms and conditions of any applicable sub-plans, that may be different than the terms and conditions of the Plan, if any, appended to this Plan and approved by
the Administrator. 

  

	6.	EFFECT OF TERMINATION OF EMPLOYMENT OR SERVICE ON AWARDS 

  

	 	6.1	General. The Administrator shall establish the effect of a termination of employment or service on the rights and benefits under each award under
this Plan and in so doing may make distinctions based upon, inter alia, the cause of termination and type of award. If the participant is not an employee of the Company or one of its Subsidiaries and provides other services to the Company or one of
its Subsidiaries, the Administrator shall be the sole judge for purposes of this Plan (unless a contract or the award otherwise provides) of whether the participant continues to render services to the Company or one of its Subsidiaries and the date,
if any, upon which such services shall be deemed to have terminated. 

  

	 	6.2	Events Not Deemed Terminations of Service. Unless the express policy of the Company or one of its Subsidiaries, or the Administrator, otherwise
provides, the employment relationship shall not be considered terminated in the case of (a) sick leave, (b) military leave, or (c) any other leave of absence authorized by the Company or one of its Subsidiaries, or the Administrator;
provided that unless reemployment upon the expiration of such leave is guaranteed by contract or law or the Administrator otherwise provides, such leave is for a period of not more than three months. Further, for purposes of ISOs, no such leave may
exceed three months, unless reemployment upon expiration of such leave is guaranteed by contract or law. If reemployment, upon expiration of a leave of absence approved by the Company or one of its Subsidiaries or the Administrator, is not so
guaranteed, then six months following the first day of such leave, any ISO held by such participant will cease to be treated as an ISO and will be treated for U.S. tax purposes as a nonstatutory stock option. In the case of any employee of the
Company or one of its Subsidiaries on an approved leave of absence, continued vesting of the award while on leave from the employ of the Company or one of its Subsidiaries may be suspended until the employee returns to service, unless the
Administrator otherwise provides or applicable law otherwise requires. In no event shall an award be exercised after the expiration of the term set forth in the applicable award agreement. 

 

	 	6.3	Effect of Change of Subsidiary Status. Except as otherwise permitted by the Administrator, for purposes of this Plan and any award, if an entity
ceases to be a Subsidiary of the Company a termination of employment or service shall be deemed to have occurred with respect to each Eligible Person in respect of such Subsidiary who does not continue as an Eligible Person in respect of the Company
or another Subsidiary that continues as such after giving effect to the transaction or other event giving rise to the change in status. 

  
 10 

	7.	ADJUSTMENTS; ACCELERATION 

  

	 	7.1	Adjustments. Subject to Section 7.2, upon (or, as may be necessary to effect the adjustment, immediately prior to): any reclassification,
recapitalization, stock split (including a stock split in the form of a stock dividend) or reverse stock split; any merger, combination, consolidation, or other reorganization; any spin-off, split-up, or similar extraordinary dividend distribution
in respect of the Ordinary Shares; or any exchange of Ordinary Shares or other securities of the Company, or any similar, unusual or extraordinary corporate transaction in respect of the Ordinary Shares; then the Administrator shall equitably and
proportionately adjust (1) the number and type of Ordinary Shares (or other securities) that thereafter may be made the subject of awards (including the specific share limits, maximums and numbers of shares set forth elsewhere in this Plan),
(2) the number, amount and type of Ordinary Shares (or other securities or property) subject to any outstanding awards, (3) the grant, purchase, or exercise price (which term includes the base price of any SAR or similar right) of any
outstanding awards, and/or (4) the securities, cash or other property deliverable upon exercise or payment of any outstanding awards, in each case to the extent necessary to preserve (but not increase) the level of incentives intended by this
Plan and the then-outstanding awards. 

 Unless otherwise expressly provided in the applicable award agreement,
upon (or, as may be necessary to effect the adjustment, immediately prior to) any event or transaction described in the preceding paragraph or a sale of all or substantially all of the business or assets of the Company as an entirety, the
Administrator shall equitably and proportionately adjust the performance standards applicable to any then-outstanding performance-based awards to the extent necessary to preserve the level of incentives intended by this Plan and the then-outstanding
performance-based awards. 
 It is intended that, if possible, any adjustments contemplated by the preceding two paragraphs be
made in a manner that satisfies applicable U.S. legal, tax (including, without limitation and as applicable in the circumstances, Section 424 of the Code and Section 409A of the Code) and accounting (so as to not trigger any charge to
earnings with respect to such adjustment) requirements. 
 Without limiting the generality of Section 3.3, any good faith
determination by the Administrator as to whether an adjustment is required in the circumstances pursuant to this Section 7.1, and the extent and nature of any such adjustment, shall be conclusive and binding on all persons. 

 

	 	7.2	 Corporate Transactions - Assumption and Termination of Awards. Upon the occurrence of any of the following: any merger,
combination, consolidation, or other reorganization; any exchange of Ordinary Shares or other securities of the Company; a sale of all or substantially all the business, stock or assets of the Company; a dissolution of the Company; or any other
event in which the Company does not survive (or does not survive as a public company in respect of its Ordinary Shares); then the Administrator may make provision for a cash payment in settlement of, or for the assumption, substitution or exchange
of any 

  
 11 

	 	
or all outstanding share-based awards or the cash, securities or property deliverable to the holder of any or all outstanding share-based awards, based upon, to the extent relevant under the
circumstances, the distribution or consideration payable to holders of the Ordinary Shares upon or in respect of such event. Upon the occurrence of any event described in the preceding sentence, then, unless the Administrator has made a provision
for the substitution, assumption, exchange or other continuation or settlement of the award or the award would otherwise continue in accordance with its terms in the circumstances: (1) subject to Section 7.4 and unless otherwise provided
in the applicable award agreement, each then-outstanding option and SAR shall become fully vested, all restricted shares then outstanding shall fully vest free of restrictions, and each other award granted under this Plan that is then outstanding
shall become payable to the holder of such award; and (2) each award shall terminate upon the related event; provided that the holder of an option or SAR shall be given reasonable advance notice of the impending termination and a reasonable
opportunity to exercise his or her outstanding vested options and SARs (after giving effect to any accelerated vesting required in the circumstances) in accordance with their terms before the termination of such awards (except that in no case shall
more than ten days’ notice of the impending termination be required and any acceleration of vesting and any exercise of any portion of an award that is so accelerated may be made contingent upon the actual occurrence of the event).

 Without limiting the preceding paragraph, in connection with any event referred to in the preceding paragraph or
any change in control event defined in any applicable award agreement, the Administrator may, in its discretion, provide for the accelerated vesting of any award or awards as and to the extent determined by the Administrator in the circumstances.

 The Administrator may adopt such valuation methodologies for outstanding awards as it deems reasonable in the event of a cash
or property settlement and, in the case of options, SARs or similar rights, but without limitation on other methodologies, may base such settlement solely upon the excess if any of the per share amount payable upon or in respect of such event over
the exercise or base price of the award. 
 In any of the events referred to in this Section 7.2, the Administrator may take
such action contemplated by this Section 7.2 prior to such event (as opposed to on the occurrence of such event) to the extent that the Administrator deems the action necessary to permit the participant to realize the benefits intended to be
conveyed with respect to the underlying shares. Without limiting the generality of the foregoing, the Administrator may deem an acceleration to occur immediately prior to the applicable event and/or reinstate the original terms of the award if an
event giving rise to an acceleration does not occur. 
 Notwithstanding the foregoing, to the extent a participant is subject to
U.S. income taxation, a transaction will not be deemed to occur under this Section 7.2 unless the transaction qualifies as a change in control event within the meaning of Section 409A of the Code (“Section 409A”), as it
has been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time. 

  
 12 

 Without limiting the generality of Section 3.3, any good faith determination by the
Administrator pursuant to its authority under this Section 7.2 shall be conclusive and binding on all persons. 
  

	 	7.3	Other Acceleration Rules. The Administrator may override the provisions of Section 7.2 and/or 7.4 by express provision in the award agreement
and may accord any Eligible Person a right to refuse any acceleration, whether pursuant to the award agreement or otherwise, in such circumstances as the Administrator may approve. The portion of any ISO accelerated in connection with an event
referred to in Section 7.2 (or such other circumstances as may trigger accelerated vesting of the award) shall remain exercisable as an ISO only to the extent the applicable $100,000 limitation on ISOs is not exceeded. To the extent exceeded,
the accelerated portion of the option shall be exercisable as a nonqualified stock option under the Code. 

  

	 	7.4	 Golden Parachute Limitation. Notwithstanding anything else contained in this Section 7 to the contrary, in no event shall any
award or payment be granted or accelerated under this Plan to an extent or in a manner so that such award or payment, together with any other compensation and benefits provided to, or for the benefit of, the participant under any other plan or
agreement of the Company or any of its Subsidiaries, would not be fully deductible by the Company or one of its Subsidiaries for federal income tax purposes because of Section 280G of the Code. If a participant would be entitled to benefits or
payments hereunder and under any other plan or program that would constitute “parachute payments” as defined in Section 280G of the Code, then the reduction will occur in the following order: (a) reduction of cash payments;
(b) cancellation of awards granted “contingent on a change in ownership or control,” within the meaning of Section 280G of the Code; (c) cancellation of accelerated vesting of equity awards; and (d) reduction of other
employee benefits. In the event that awards are cancelled pursuant to clause (b) above, or the acceleration of vesting of any awards is cancelled under clause (c) above, such cancellation in each case will occur in the reverse order of the
date of grant of the participant’s awards. If two or more awards are granted on the same date, the cancellation of each award, with respect to clause (b), or the cancellation of the accelerated vesting of each award, with respect to clause
(c), will occur on a pro-rata basis across all awards with the same grant date. Notwithstanding the foregoing, if a participant is a party to an employment or other agreement with the Company or one of its
Subsidiaries, or is a participant in a severance program sponsored by the Company or one of its Subsidiaries, that contains express provisions regarding Section 280G and/or Section 4999 of the Code (or any similar successor provision), or
the applicable award agreement includes such provisions, the Section 280G and/or Section 4999 provisions of such employment or other agreement or plan, as applicable, shall control as to the awards held by that participant (for example,
and without limitation, a participant may be a party to an employment agreement with the Company or one of its Subsidiaries that provides for a “gross-up” as opposed to a “cut-back” in the event that the Section 280G
thresholds are reached or exceeded 

  
 13 

	 	
in connection with a change in control and, in such event, the Section 280G and/or Section 4999 provisions of such employment agreement shall control as to any awards held by that
participant). Provided, however, that if a reduction of “parachute payments” within the meaning of Section 280G of the Code occurs pursuant to the terms of this Plan, or such other employment or other agreement or severance program,
in no event will a participant have any discretion with respect to the ordering of such payment reductions. 

  

	8.	OTHER PROVISIONS 

  

	 	8.1	Compliance with Laws. This Plan, the granting and vesting of awards under this Plan, the offer, issuance and delivery of Ordinary Shares and/or the
payment of money under this Plan or under awards are subject to compliance with all applicable federal and state laws, rules and regulations (including but not limited to state and federal securities law, federal margin requirements) and to such
approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. The person acquiring any securities under this Plan will, if requested by the
Company or one of its Subsidiaries, provide such assurances and representations to the Company or one of its Subsidiaries as the Administrator may deem necessary or desirable to assure compliance with all applicable legal and accounting
requirements. 

  

	 	8.2	No Rights to Award. No person shall have any claim or rights to be granted an award (or additional awards, as the case may be) under this Plan,
subject to any express contractual rights (set forth in a document other than this Plan) to the contrary. 

  

	 	8.3	No Employment/Service Contract. Nothing contained in this Plan (or in any other documents under this Plan or in any award) shall confer upon any
Eligible Person or other participant any right to continue in the employ or other service of the Company or one of its Subsidiaries, constitute any contract or agreement of employment or other service or affect an employee’s status as an
employee at will, nor shall interfere in any way with the right of the Company or one of its Subsidiaries to change a person’s compensation or other benefits, or to terminate his or her employment or other service, with or without cause.
Nothing in this Section 8.3, however, is intended to adversely affect any express independent right of such person under a separate employment or service contract other than an award agreement. 

 

	 	8.4	 Plan Not Funded. Awards payable under this Plan shall be payable in shares or from the general assets of the Company, and no
special or separate reserve, fund or deposit shall be made to assure payment of such awards. No participant, beneficiary or other person shall have any right, title or interest in any fund or in any specific asset (including Ordinary Shares, except
as expressly otherwise provided) of the Company or one of its Subsidiaries by reason of any award hereunder. Neither the provisions of this Plan (or of any related documents), nor the creation or adoption of this Plan, nor any action taken pursuant
to the provisions of this Plan shall create, or be construed to create, a trust of any kind or 

  
 14 

	 	
a fiduciary relationship between the Company or one of its Subsidiaries and any participant, beneficiary or other person. To the extent that a participant, beneficiary or other person acquires a
right to receive payment pursuant to any award hereunder, such right shall be no greater than the right of any unsecured general creditor of the Company. 

  

	 	8.5	Tax Withholding. Upon any exercise, vesting, or payment of any award or upon the disposition of Ordinary Shares acquired pursuant to the exercise
of an ISO prior to satisfaction of the holding period requirements of Section 422 of the Code, the Company or one of its Subsidiaries shall have the right at its option to: 

 

	 	(a)	require the participant (or the participant’s personal representative or beneficiary, as the case may be) to pay or provide for payment of at least the minimum
amount of any taxes which the Company or one of its Subsidiaries may be required to withhold with respect to such award event or payment; or 

  

	 	(b)	deduct from any amount otherwise payable in cash to the participant (or the participant’s personal representative or beneficiary, as the case may be) the minimum
amount of any taxes which the Company or one of its Subsidiaries may be required to withhold with respect to such cash payment. 

 In any case where a tax is required to be withheld in connection with the delivery of Ordinary Shares under this Plan, the Administrator may in its sole discretion (subject to Section 8.1) require or
grant (either at the time of the award or thereafter) to the participant the right to elect, pursuant to such rules and subject to such conditions as the Administrator may establish, that the Company reduce the number of shares to be delivered by
(or otherwise reacquire) the appropriate number of shares, valued in a consistent manner at their fair market value or at the sales price in accordance with authorized procedures for cashless exercises, necessary to satisfy the minimum applicable
withholding obligation on exercise, vesting or payment. In no event shall the shares withheld exceed the minimum whole number of shares required for tax withholding under applicable law. 

  
 15 

	 	8.6	Compliance With Section 409A. Awards will be designed and operated in such a manner that they are either exempt from the application of, or
comply with, the requirements of Section 409A such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Section 409A, except as otherwise determined in the sole discretion
of the Administrator. The Plan and each award agreement under the Plan is intended to meet the requirements of Section 409A and will be construed and interpreted in accordance with such intent, except as otherwise determined in the sole
discretion of the Administrator. To the extent that an award or payment, or the settlement or deferral thereof, is subject to Section 409A the award will be granted, paid, settled or deferred in a manner that will meet the requirements of
Section 409A, such that the grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Section 409A. 

 

	 	8.7	Effective Date, Termination and Suspension, Amendments. 

 8.7.1 Effective Date. This Plan is effective as of the Registration Date. This Plan shall be submitted for and subject to shareholder approval no later than twelve months after the
adoption of the Plan by the Board. Unless earlier terminated by the Board, this Plan shall terminate at the close of business on the day before the tenth anniversary of the adoption of the Plan by the Board. After the termination of this Plan either
upon such stated expiration date or its earlier termination by the Board, no additional awards may be granted under this Plan, but previously granted awards (and the authority of the Administrator with respect thereto, including the authority to
amend such awards) shall remain outstanding in accordance with their applicable terms and conditions and the terms and conditions of this Plan. 
 8.7.2 Board Authorization. The Board may, at any time, terminate or, from time to time, amend, modify or suspend this Plan, in whole or in part. No awards may be granted during any
period that the Board suspends this Plan. 
 8.7.3 Shareholder Approval. To the extent then required by
applicable law or any applicable listing agency or required under Sections 422 or 424 of the Code to preserve the intended tax consequences of this Plan, or pursuant to any repricing under Sections 3.2(g) and 3.2(j), or deemed necessary or advisable
by the Board, any amendment to this Plan shall be subject to shareholder approval. 
 8.7.4 Amendments to
Awards. Without limiting any other express authority of the Administrator under (but subject to) the express limits of this Plan, the Administrator by agreement or resolution may waive conditions of or limitations on awards to participants
that the Administrator in the prior exercise of its discretion has imposed, without the consent of a participant, and (subject to the requirements of Sections 3.2 and 8.7.5) may make other changes to the terms and conditions of awards. Any amendment
or other action that would constitute a repricing of an award is subject to the limitations set forth in Section 3.2(g). 

8.7.5 Limitations on Amendments to Plan and Awards. No amendment, suspension or termination of this Plan or amendment
of any outstanding award 

  
 16 

	 	
agreement shall, without written consent of the participant, affect in any manner materially adverse to the participant any rights or benefits of the participant or obligations of the Company
under any award granted under this Plan prior to the effective date of such change. Changes, settlements and other actions contemplated by Section 7 shall not be deemed to constitute changes or amendments for purposes of this Section 8.7.

  

	 	8.8	Privileges of Share Ownership. Except as otherwise expressly authorized by the Administrator or this Plan, a participant shall not be entitled to
any privilege of share ownership as to any Ordinary Shares not actually delivered to and held of record by the participant. Except as expressly required by Section 7.1 or otherwise expressly provided by the Administrator, no adjustment will be
made for dividends or other rights as a shareholder for which a record date is prior to such date of delivery. 

  

	 	8.9	Governing Law; Construction; Severability. 

 8.9.1 Choice of Law. This Plan, the awards, all documents evidencing awards and all other related documents shall be governed by, and construed in accordance with the laws of the
State of California. 
 8.9.2 Severability. If a court of competent jurisdiction holds any provision invalid
and unenforceable, the remaining provisions of this Plan shall continue in effect. 
 8.9.3 Plan
Construction. It is the intent of the Company that the awards and transactions permitted by awards be interpreted in a manner that, in the case of participants who are or may be subject to Section 16 of the Exchange Act, qualify, to the
maximum extent compatible with the express terms of the award, for exemption from matching liability under Rule 16b-3 promulgated under the Exchange Act. Notwithstanding the foregoing, the Company shall have no liability to any participant for
Section 16 consequences of awards or events under awards if an award or event does not so qualify. 
  

	 	8.10	Captions. Captions and headings are given to the sections and subsections of this Plan solely as a convenience to facilitate reference. Such
headings shall not be deemed in any way material or relevant to the construction or interpretation of this Plan or any provision thereof. 

  

	 	8.11	 Share-Based Awards in Substitution for Share Options or Awards Granted by Other Corporation. Awards may be granted to Eligible
Persons in substitution for or in connection with an assumption of employee share options, SARs, restricted shares or other share-based awards granted by other entities to persons who are or who will become Eligible Persons in respect of the Company
or one of its Subsidiaries, in connection with a distribution, merger or other reorganization by or with the granting entity or an affiliated entity, or the acquisition by the Company or one of its Subsidiaries, directly or indirectly, of all or a
substantial part of the shares or assets of the employing entity. The awards so granted need not comply with other specific terms of this Plan, provided the awards reflect only

  
 17 

	 	
adjustments giving effect to the assumption or substitution consistent with the conversion applicable to the Ordinary Shares in the transaction and any change in the issuer of the security. Any
shares that are delivered and any awards that are granted by, or become obligations of, the Company, as a result of the assumption by the Company of, or in substitution for, outstanding awards previously granted by an acquired company (or previously
granted by a predecessor employer (or direct or indirect parent thereof) in the case of persons that become employed by the Company or one of its Subsidiaries in connection with a business or asset acquisition or similar transaction) shall not be
counted against the Share Limit or other limits on the number of shares available for issuance under this Plan. 

  

	 	8.12	Non-Exclusivity of Plan. Nothing in this Plan shall limit or be deemed to limit the authority of the Board or the Administrator to grant awards or
authorize any other compensation, with or without reference to the Ordinary Shares, under any other plan or authority. 

  

	 	8.13	No Corporate Action Restriction. The existence of this Plan, the award agreements and the awards granted hereunder shall not limit, affect or
restrict in any way the right or power of the Board or the shareholders of the Company to make or authorize: (a) any adjustment, recapitalization, reorganization or other change in the capital structure or business of the Company or any
Subsidiary, (b) any merger, amalgamation, consolidation or change in the ownership of the Company or any Subsidiary, (c) any issue of bonds, debentures, capital, preferred or prior preference shares ahead of or affecting the shares (or the
rights thereof) of the Company or any Subsidiary, (d) any dissolution or liquidation of the Company or any Subsidiary, (e) any sale or transfer of all or any part of the assets or business of the Company or any Subsidiary, or (f) any
other corporate act or proceeding by the Company or any Subsidiary. No participant, beneficiary or any other person shall have any claim under any award or award agreement against any member of the Board or the Administrator, or the Company or any
employees, officers or agents of the Company or any Subsidiary, as a result of any such action. 

  

	 	8.14	Other Company Benefit and Compensation Programs. Payments and other benefits received by a participant under an award made pursuant to this Plan
shall not be deemed a part of a participant’s compensation for purposes of the determination of benefits under any other employee welfare or benefit plans or arrangements, if any, provided by the Company or any Subsidiary, except where the
Administrator expressly otherwise provides or authorizes in writing. Awards under this Plan may be made in addition to, in combination with, as alternatives to or in payment of grants, awards or commitments under any other plans or arrangements of
the Company or its Subsidiaries. 

  
 18EX-10.21

 Exhibit 10.21 

 
 

 
 Facility Agreement 
 [/] Head Office 
 Date: April 25, 2014 

We, Fabrinet Company Limited, having the principal place of business at No. 5/6, Moo 6, Klongnueng Sub-district, Klongluang District,
Patumthanee Province, Registration Number 0105542073726 (hereinafter called the “Borrower”); and 
 We, Fabrinet, having
the principal place of business at 190 Elgin Avenue, George Town, Grand Cayman, Cayman Islands, KY1-9005, Registration Number 91794 (hereinafter called “Fabrinet”) 
 hereby enter into this Agreement with TMB Bank Public Company Limited (hereinafter called the “Bank”) with the following terms and conditions: 

WHEREAS: 
  

	(A)	The Borrower has received the facilities from the Bank as follows: 

  

	 	(i)	Overdraft Facility in the amount of Baht 30,000,000.00 (Thirty Million Baht) pursuant to the Overdraft Facility Agreement dated July 26, 2002 and First Amendment
to Overdraft Facility Agreement dated April 2, 2012 (collectively hereinafter called the “Existing Agreement no.1”); 

  

	 	(ii)	Letter of Guarantee in the amount of Baht 15,000,000.00 (Fifteen Million Baht) pursuant to Letter of Guarantee/Acceptance/Acceptance of Aval Agreement dated
June 6, 2005 (hereinafter called the “Existing Agreement no.2”); and 

  

	 	(iii)	FX Global and/or FX Option Line pursuant to Foreign Credit Facility Agreement dated April 4, 2007 and First Amendment to Foreign Credit Facility Agreement dated
September 29, 2010 (collectively hereinafter called the “Existing Agreement no.3”). 

  

	(B)	The Borrower and Fabrinet have received the facilities from the Bank as follows: 

 

	 	(i)	Term Loan Facility in the amount of USD 22,000,000.00 (Twenty-Two Million United States Dollar) and not exceeding Baht 252,560,000.00 (Two Hundred Fifty-Two Million
Five Hundred Sixty Thousand Baht) pursuant to Term Loan Facility Agreement dated April 4, 2007, Amendment to Term Loan Facility Agreement dated December 14, 2007 and Amendment to Term Loan Facility Agreement dated August 8, 2008
(collectively hereinafter called the “Existing Agreement no.4”); 

  

	 	(ii)	Interest Rate Swap pursuant to ISDA Master Agreement and Schedule to ISDA Master Agreement dated February 6, 2009 (collectively hereinafter called the
“Existing Agreement no.5”); 

  

	 	(iii)	Term Loan Facility in the amount of not exceeding Baht 775,710,000.00 (Seven Hundred Seventy-Five Million Seven Hundred Ten Thousand Baht) pursuant to Facility
Agreement dated May 12, 2011 (hereinafter called the “Existing Agreement no.6”); 

  
 -1-

	 	(iv)	Cross Currency Swap pursuant to the Existing Agreement no.6 and ISDA Master Agreement and Schedule to ISDA Master Agreement dated February 6, 2009; and

  

	 	(v)	Settlement Limit in the amount of Baht 65,000,000.00 (Sixty-Five Million Baht) pursuant to the Existing Agreement no.6 

(Existing Agreement no.1 to no.6 are collectively referred to as the “Existing Agreements”.) 

 

	(C)	With effect from the date hereof, the Borrower, Fabrinet and the Bank agree as follows: 

(i) to release Fabrinet as co-borrower under Existing Agreement no.4 to no.6 and General Terms and Conditions of Facility dated
May 12, 2011, whereby the Borrower shall continue to be liable for total debts and liabilities incurred from the utilization of credit line according to the Existing Agreements on or before the date of this Agreement or to be incurred in the
future as the sole Borrower in all respects until the debt owed to the Bank have been paid-up in full. 
 (ii) to release
Fabrinet as corporate guarantor under the Existing Agreement no.1. 
 (iii) to repay the outstanding debt of Term Loan Facility
under Existing Agreement no.4 
 (iv) to cancel Term Loan Facility under Existing Agreement no.4 and Interest Rate Swap under
Existing Agreement no.5. 
 (iv) to terminate negative pledge condition under the Existing Agreements. 

 

	(D)	In addition to the above matters, the Borrower and the Bank agree to amend certain conditions stated in the Existing Agreements. 

Facility Type and Credit Limit 
  

	1.	With effect from the date hereof, the Borrower has received the type of facilities and their credit limits from the Bank are as follows: 

 

	 	1.1	Term Loan Facility: the Borrower agrees that the outstanding debt as of April 25, 2014 is Baht 594,000,000.00 (Five Hundred Ninety-Four Million Baht).

  

	 	1.2	Overdraft Facility for the limit of Baht 30,000,000.00 (Thirty Million Baht) hereinafter called the “Overdraft”. The Borrower shall utilise the
Overdraft from the current account in the amount and period of time as required by the Borrower and agreed by the Bank. 

  

	 	1.3	Hedging Facility 

  

	 	1.3.1	FX Global and/or FX Option Line in accordance with the maximum limit as determined by the Bank from time to time depending on the fluctuation of exchange rate.

  

	 	1.3.2	Cross Currency Swap in accordance with the maximum limit as determined by the Bank from time to time depending on the fluctuation of exchange rate.

  

	 	1.4	Letter of Guarantee for the limit of Baht 15,000,000.00 (Fifteen Million Baht) 

 

	 	1.5	Settlement Limit in the amount of Baht 65,000,000.00 (Sixty-Five Million Baht) 

Regardless of whether the Borrower utilises the Foreign Credit Facility or the facility under a letter of guarantee on account of his own
and/or any third party and/or the Borrower allows a third party to utilise his Foreign Credit Facility or letter of guarantee/acceptance/acceptance of aval facilities, the Borrower shall continue to be liable under the relevant General Terms and
this Agreement including any other documents executed in relation to the General Terms or this Agreement. 

  
 -2-

 The facilities under Clause 1.2 to 1.5 are collectively called the “Revolving
Facilities” which means the facilities that roll over as approved of the Bank and are utilised as working capital of the Borrower’s business operations, and each utilisation of which is subject to the Bank’s sole discretion.

 General Terms and Conditions 
  

	2.	The Borrower agrees to comply with the “General Terms and Conditions of Facility” dated May 12, 2011 which is hereinafter called the “General
Terms”. The Borrower agrees that the General Terms and this Agreement including any other documents executed in relation to the General Terms or this Agreement shall bind the Borrower and supersede any previous contracts or agreements the
Borrower made with the Bank. If in the future the Borrower is granted any facility in addition to the facilities obtained hereunder regardless of whether by execution of a new facility agreement or amendment agreement or not, the Borrower agrees to
comply with the General Terms which shall be applicable to the said agreements or facilities in all respects. The Borrower further agrees that the General Terms, including any other relevant agreements or documents shall, to the extent that they are
not inconsistent with this Agreement or the General Terms, constitute mutually essential elements and form an integral part of this Agreement. Any breach of any term thereunder by the Borrower shall constitute a breach of this Agreement, in which
case the Bank is entitled to demand the Borrower to immediately repay all debts outstanding together with interest at the default rate as well as to exercise any rights to which the Bank is entitled hereunder. 

Security 
  

	3.	The Borrower agrees to provide the following security to the Bank to secure the payment of the abovementioned debts: 

 

	 	3.1	Mortgage of existing Land and building under title deed No. 1634 located at Bangwaitai (Klongtok) Sub-district, Klongluang District, Patumthanee Province pursuant
to the existing and Mortgage Agreement dated April 5, 2007. 

  

	 	3.2	Mortgage of new Land and building under title deed No. 1636 located at Bangwaitai (Klongtok) Sub-district, Klongluang District, Patumthanee Province. The
securities shall be completely mortgaged within April 28, 2014. 

  

	 	3.3	Both parties agree that the security created by, together with all rights and remedies arising under, the security documents entered into prior to the date of this
Agreement shall continues to be security toward all liabilities arising under this Agreement until such liabilities are fully discharged and paid. 

  

	4.	The Borrower agrees that if in the event of foreclosure of the security by the Bank and the amount of net proceeds received is not sufficient to pay the abovementioned
debts in full, the Borrower shall continue to pay any difference to the Bank and shall allow the Bank to seize other assets of the Borrower for public auction to obtain proceeds to discharge all outstanding debts of the Borrower in full.

  

	5.	 The Borrower agrees to take out insurance over the security and/or other assets determined by the Bank in the Borrower’s name with an insurance
company approved by the Bank for the insured amount approved by the Bank and acceptable by the insurance company from the date on which the security is provided to the Bank. The Borrower shall take out an all-risks insurance policy for such

  
 -3-

	 	
consecutive period so long as the Borrower has outstanding debts hereunder. The Bank shall be stated or endorsed as the sole beneficiary in the insurance policy, a copy of which shall be
certified by the Borrower and delivered to the Bank immediately upon receipt of the policy by the Borrower. 

 The
Borrower shall arrange to renew the insurance policy before its expiry date. If the Borrower fails to renew the insurance within such date, it agrees that the Bank is authorised by the Borrower to effect or renew the insurance policy including
modifying or amending any provisions in connection with the insurance on behalf of the Borrower and any insurance premium and/or any fees thereby incurred shall be deducted from any deposit accounts the Borrower has with the Bank. 

The Borrower shall not change, modify or cancel the insurance unless with the Bank’s approval. The Borrower shall notify the Bank of
any change, modification, cancellation or renewal of any insurance policy not being made by the Bank and shall submit a copy of documents evidencing such change, modification, cancellation or renewal to the Bank within 15 (fifteen) days from the
date thereof. 
  

	6.	The Borrower agrees that if in the future the Bank determines that the value of the assets provided as security is insufficient to repay all debts of the Borrower, the
Borrower shall provide other assets of the value sufficient to discharge all debts of the Borrower to the Bank as additional security Immediately upon the Borrower’s receipt of the Bank’s notification unless a waiver is granted by the Bank
on a case-by-case basis. 

 With respect to the security under any Facilities whose guarantee amount is denominated
in foreign currencies, such as a standby letter of credit or a letter of parent guarantee, the Borrower agrees that if the equivalent guarantee amount in Thai currency calculated by the Bank’s buying rate of such currency into Thai currency at
any time is less than the total outstanding debts of the Borrower under this Agreement, the Borrower shall provide any other security or the foreign currency denominated security in the additional amount to cause the total guarantee amount to be
equal to or more than the total outstanding debts of the Borrower under this Agreement within 30 (thirty) days upon receipt of a written notice from the Bank. 
  

	7.	So long as the Borrower has any outstanding debts to the Bank, the Borrower agrees that the Bank valuates the security in accordance with the rules and regulations of
the Bank and/or the Bank of Thailand at the Borrower’s costs. 

  

	8.	Other than the assets provided as security hereunder, the Borrower agrees that any other assets of the Borrower having been mortgaged, pledged or otherwise provided to
secure other type of indebtedness of the Borrower or the indebtedness of a third party owed to the Bank at whichever branches or offices of the Bank shall secure all of the indebtedness the Borrower owed to the Bank and shall be used as the security
for the debts payable by the Borrower hereunder. The Borrower further agrees that the Bank may exercise its rights to retain such assets or any other right entitled to it under the law governing such security if the Bank views that the Borrower may
take action in relation to the security which may incur damage to the Bank or prevent the Bank from receiving repayment of debts hereunder. 

 Governing Law 
  

	9.	This Agreement and the General Terms including any other documents executed under this Agreement and the General Terms shall be governed by and construed in accordance
with Thai law. 

  
 -4-

 Special Terms and Conditions 

 

	10.	The Borrower agrees that as long as the Borrower has outstanding debts owing to the Bank, the Borrower shall: 

 

	 	10.1	maintain the following financial ratios, which shall be tested by annually based on audited financial statements: 

10.1.1 Debt to Equity Ratio not exceeding 1.50 times until all outstanding of Term Loan Facility under Existing Agreement no.4 and no.6
are fully paid. 
 “Debt means total debt 
 Equity means total shareholders’ equity”; 
  

	 	10.1.2	Debt Service Coverage Ratio at least 1.20 times 

 “Debt Service Coverage Ratio” (DSCR) means the profit (loss) before interest and tax, plus depreciation and amortization expenses, divided by the principal and interest due and payable within
the preceding year. 
  

	 	10.2	cause Fabrinet and/or its group of companies to maintain effective shareholding ratio in the Borrower at least 90% of the total issued shares of the Borrower.
Notification of change of such shareholder shall be submitted to the Bank within 30 (thirty) days after the change. 

  

	 	10.3	continue to obtain revenue and/or business support from Fabrinet, group of companies and/or ultimate buyers for at least Baht 750,000,000.00 (Seven Hundred Fifty
Million Baht) per quarter until ail outstanding of Term Loan Facility under Existing Agreement no.4 and no.6 are fully paid. 

  

	 	10.4	undertake to route at least Baht 600,000,000.00 (Six Hundred Million Baht) per quarter until all outstanding of Term Loan Facility under Existing Agreement no.4 and
no.6 are fully paid. 

  

	 	10.5	submit the Bank quarterly financial statements, excluding audited financial statement, within 45 (forty-five) days of the ending period in each quarter until all
outstanding of Term Loan Facility under Existing Agreement no.4 and no.6 are fully discharged and paid. 

  

	11.	From the date hereof, the Bank and the Borrower agrees to release Fabrinet as corporate guarantor under Existing Agreement no.1 and to terminate the negative pledge
condition under the Existing Agreements when the Borrower completes the mortgage of land and buildings for all Facilities and the mortgage property shall be stand-alone, i.e. can be separately liquidated (with access right) etc.

  

	12.	The definition of THBFIX under General Terms shall be deleted in its entirely and replaced with the following: 

““THBFIX” means an interest rate offered for lending in Thai Baht for the period equal to the relevant interest
period as printed or reported on Reuters Screen page “THBFIX=TH” (which shall be the rate displayed on a selling column for US Dollar/Thai Baht trading at domestic foreign currency future market) at about 11:00 a.m. (London time) on the
date falling 2 business days before the commencement of relevant interest period. 
 If the screen rate is not available or the
reference rate cannot be determined, “THBFIX” shall mean the rate quoted by the Bank at arm’s length as the average rate obtained from the rates supplied by at least 5 leading foreign currency dealers in Bangkok” 

  
 -5-

	13.	The following Clause 10.12 shall be added in the General Terms: 

 “Clause 10.12 The Borrower shall not engage in activities which violate environment policy of the Bank, international laws, regulations or orders of the authorities whose duties are to ensure public
order or preserve environment including without limit to, trade of weapons and munitions, drift net fishing in marine environment using net in excess of 2.5 km. in length, production or trade in ozone depleting substances etc.” 

 

	14.	Any terms and conditions which are not otherwise amended by this Agreement shall remain in full force and effect between the parties in accordance with the Existing
Agreement in all respects. 

 The Borrower has thoroughly read and understood the content hereof and the General
Terms, and executed this Agreement and affixed the seal (if any) in the presence of witnesses 
  

							
	The Borrower/the Mortgagor	 		 	
			
	Fabrinet Company Limited	 		 	
				
	By:	 	

	 		 	 

		 	(Mr. Toh-Seng Ng)	 		 
		 	  
 Authorised Director
	 		 
			
	The Bank	 		 	
			
	TMB Bank Public Company Limited	 		 	
				
	By:	 	

	 		 	
		 	(Mr. Pirapong Nithikraiwut)	 		 	

  

													
	Signed	 	 

	 	Witness	 		 	Signed	 	 

	 	Witness
		 	  
	 		 		 		 	  
	 	
							
		 	(Mr. Nakarin Sakorn)	 		 		 		 	(Miss Chanphen Taengkawee)	 	

  
 -6-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00236-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00236-of-00352.parquet"}]]