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Exhibit 10.2

RESTRICTED COMMON SHARE UNIT AWARD AGREEMENT

THIS RESTRICTED COMMON SHARE UNIT AWARD AGREEMENT (this “Agreement”) is entered into as of [Date] (the “Effective Date”), by and between Whitestone REIT, a Maryland real estate investment trust (the “Company”), and [Employee] (the “Participant”).  Capitalized terms not defined in this Agreement shall have the meanings ascribed to such terms in the 2018 Long-Term Equity Incentive Ownership Plan, as it may be amended from time to time (the “Plan”). 

            WHEREAS, the Company maintains the Plan, which is incorporated into and forms a part of this Agreement, and the Participant is an Employee and has been selected by the Committee to receive an award of Restricted Common Share Units under the Plan.
NOW, THEREFORE, IT IS AGREED, by and between the Company and the Participant, as follows:

1.         Restricted Common Share Unit Award. The Participant is hereby granted [    ] Restricted Common Share Units (the “Units”) subject to the restrictions and on the terms and conditions set forth in this Agreement (the “Award”).  Each Unit shall represent the right to receive one Common Share. The “target” number of Units awarded is [       ] Units (the “Target Number of Units”); however, the actual number of Units that vest (referred to in this Agreement as the lapsing of the Period of Restriction) may range from zero to 200% of the Target Number of Units, depending on the extent to which the applicable vesting conditions set forth in the vesting schedule in Exhibit A are satisfied.  

2.         Restriction on the Units. 

(a)        Period of Restriction. Except as otherwise set forth herein, all the Units issued to the Participant pursuant to this Agreement shall be subject to a period of restriction (the “Period of Restriction”) during which the Participant’s rights in and to such Units shall be subject to the limitations and obligations set forth in this Section 2. 

(b)        Lapse of Period of Restriction. The Period of Restriction shall lapse in accordance with the provisions of Exhibit A, which is attached hereto and forms part of this Agreement.  During the period that the Units are subject to the Period of Restriction, such Units are referred to herein as “Restricted Units.” 

(c)        Delivery of the Common Shares. Subject to Section 2(d) below, upon the lapse of the Period of Restriction with respect to a Restricted Unit, the Restricted Unit shall be converted into the right to receive a Common Share, and the Company will deliver to the Participant a Common Share for each such Unit on the applicable date of the lapse of the Period of Restriction or as soon as practicable (and in all events within 60 days) thereafter.  The form of delivery (e.g., a share certificate or electronic entry evidencing such shares) shall be determined by the Company.

(d)       Termination of Service. Notwithstanding any other provision of this Agreement to the contrary, if the Participant’s service as an Employee terminates for any reason (or no reason), other than the Participant’s death or Disability, any Restricted Units that are subject to the Period of Restriction on the date of the Participant’s termination shall be immediately forfeited by the Participant and shall be automatically transferred to and reacquired by the Company at no cost to the Company, and neither the Participant nor his or her heirs, executors, administrators or successors shall have any right or interest in such Restricted Units or the underlying Common Shares.  In the event of the Participant’s death or 

Disability, any Restricted Units that are subject to the Period of Restriction on the date of death or Disability shall immediately vest and the Participant or his or her heirs, executors, administrators or successors shall have the right and interest in such Restricted Units.

3.         No Rights as a Shareholder. Until Common Shares shall have been delivered to the Participant in accordance with Section 2(c) hereof, subject to the terms of this Agreement and the Plan, the Participant shall have no rights of a shareholder with respect to the Restricted Units, including no right to vote the Restricted Units and no right to receive current dividends or dividend equivalents with respect to the Restricted Units. 

4.         Change in Control. Notwithstanding Section 2 of this Agreement, if the Participant holds Restricted Units at the time a Change in Control occurs, the Period of Restriction with respect to the Target Number of Units granted in Section 1 shall automatically lapse immediately prior to the consummation of such Change in Control. 

5.         Withholding and Responsibility for Taxes.  Pursuant to Article 15.5 of the Plan, the Company, any Affiliate or any Subsidiary shall have the power and the right to deduct or withhold, or require the Participant to remit to the Company, any Affiliate or any Subsidiary, an amount sufficient to satisfy any federal, state, local or other taxes required by law to be withheld with respect to the Units.  The Participant may direct the Company to satisfy the withholding obligation with respect to the Units by the Company withholding Common Shares (otherwise deliverable pursuant to Section 2(c) above) having a Fair Market Value equal to the minimum statutory withholding (based on minimum statutory withholding rates for federal and state tax purposes, including payroll taxes) that could be imposed on the transaction and, in any case in which it would not result in additional accounting expense to the Company, in excess of the minimum statutory withholding amount.  The Participant understands that he or she (and not the Company, any Affiliate or any Subsidiary) shall be responsible for his or her own tax liability that may arise with respect to the Units and any Common Shares issued pursuant to this Agreement.  

6.         Restrictions on Transfer. During the Period of Restriction, the Participant shall not sell, transfer, pledge, hypothecate, assign, exchange or otherwise dispose of the Restricted Units. Any attempted sale, transfer, pledge, hypothecation, assignment, exchange or other disposition shall be null and void and of no force or effect and the Company shall have the right to disregard the same on its books and records and to issue “stop transfer” instructions to its transfer agent. 

7.         Plan Provisions Control. This Agreement is subject to the terms and conditions of the Plan, which are incorporated herein by reference. Notwithstanding anything to the contrary contained herein, the provisions of the Plan shall govern if and to the extent that there are inconsistencies between the provisions of the Plan and the provisions of this Agreement. The Participant acknowledges that the Participant has received a copy of the Plan prior to the execution of this Agreement.

8.         No Rights Conferred. Nothing in this Agreement shall give the Participant any right to continue in the employ or service of the Company, any Affiliate or any Subsidiary and/or as a member of the Company’s Board of Trustees or in any other capacity, or interfere in any way with the right of the Company, any Affiliate or any Subsidiary to terminate the employment or services of the Participant.

9.         Consent to Electronic Delivery.  The Company may choose to deliver certain materials relating to the Plan in electronic form. By accepting this Agreement, the Participant agrees that the Company may deliver the Plan prospectus and the Company’s annual report to the Participant in an electronic format. If at any time the Participant would prefer to receive paper copies of these documents, please contact the Chief Financial Officer of the Company to request paper copies of these documents.

10.       Adjustments. The number and kind of shares covered by this Agreement and other terms in this Agreement may be appropriately adjusted in accordance with Section 4.2 of the Plan.

11.       Compliance with Section 409A of the Code. The Participant hereby consents (without further consideration) to any change to this Agreement or the Award so the Participant can avoid paying penalties under Section 409A of the Code, even if those changes affect the terms and conditions of this Agreement of the Award and reduce its value or potential value. 

12.        Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors and permitted assigns. This Agreement may not be assigned or transferred in whole or in part by the Participant, nor may the Participant delegate any duty or obligation under this Agreement, and any attempt to so assign, transfer or delegate shall be null and void and of no force or effect. 

13.       Interpretation of this Agreement. All determinations and interpretations made by the Committee with regard to any questions arising under the Plan or this Agreement shall be final, binding and conclusive as to all persons, including without limitation the Participant and any person claiming rights from or through the Participant. 

14.       Venue. Each party to this Agreement hereby irrevocably (i) consents and submits to the exclusive jurisdiction of the state and federal courts in Harris County, Texas in connection with any disputes arising out of this Agreement, and (ii) waives any objection based on venue or inconvenient forum with respect to any action instituted therein arising under this Agreement or the transactions contemplated hereby, and agrees that any dispute with respect to such matters shall be heard only in the courts described above. 

15.       Governing Law; Entire Agreement; Amendment. This Agreement shall be governed by and construed in accordance with the laws of the State of Maryland, without regard to such state’s conflict of laws principles. The Plan and this Agreement constitute the entire agreement between the parties with respect to the subject matter hereof and supersede all prior understandings and agreements, written or oral, of the parties hereto with respect to the subject matter hereof; provided, however, that if the Participant is party to an employment, change in control or similar agreement with the Company or an Affiliate and such agreement contains terms applicable to equity awards of the type granted by this Agreement that are more favorable to the Participant than is provided for in this Agreement, the terms of such employment, change in control or similar agreement shall control.  This Agreement may be amended by the Committee, subject to the Participant’s consent if such amendment materially and adversely affects the rights of the Participant, except that the consent of the Participant shall not be required for any amendment made pursuant to Section 4.2 or Section 15.11 of the Plan, or as set forth in Section 11 of this Agreement. 

16.       Notices. Any notice, demand or request required or permitted to be given under this Agreement shall be in writing and shall be deemed given (i) when delivered personally, or (ii) three days after being deposited in the United States mail, by certified or registered mail, postage prepaid, or (iii) the next business day after sent by nationally recognized overnight delivery service, and addressed, if to the Company, at its principal place of business, Attention: Chief Financial Officer, and if to the Participant, at his or her most recent address as shown in the employment or stock records of the Company. 

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above. 
						
	Whitestone REIT

	By:	
	Name:	
	Title:	
	
	
Participant: ________________________________
	
	Date:

Exhibit A

Lapse of Period of Restriction

The purpose of this Exhibit A is to set forth the performance goals that will determine the number of Restricted Units that will vest, resulting in the lapsing of the Period of Restriction applicable to such Units and the issuance of one Common Share for each such vested Unit in accordance with the terms of the attached Restricted Unit Award Agreement (the “Agreement”). This Exhibit A is incorporated into and forms a part of the Agreement.

The Period of Restriction will lapse as follows: 

On, or as soon as practicable after, December 31, 2022, the Company will measure its 3-Year Total Shareholder Return (“TSR”) and compare it to the 3-Year TSR for the peer group below for the 3-year period ending December 31, 2022.  The Company will determine its rank/position in the list of the 17 companies set forth below.  The number of Units that vest, resulting in the lapsing of the Period of Restriction applicable to such Units and the issuance of one Common Share for each such vested Unit, may range from zero to 200% of the Target Number of Units, based on the Company’s position relative to the peer group, such number of Units to be determined by multiplying the Target Number of Units by the applicable Conversion Factor shown in the table below.  The Period of Restriction will lapse when the Committee makes its final determination of the Company’s relative TSR rank/position.

						
	Institution Name (2)
	Ticker
	Acadia Realty Trust	AKR
	Brixmor Property Group Inc.	BRX
	Cedar Realty Trust, Inc.	CDR
	SITE Center Corp	SITC
	Federal Realty Investment Trust	FRT
	Kimco Realty Corporation	KIM
	Kite Realty Group Trust	KRG
	RPT Realty	RPT
	Regency Centers Corporation	REG
	Retail Opportunity Investments Corp.	ROIC
	Retail Properties of America, Inc.	RPAI
	Retail Value Inc.	RVI
	Saul Centers, Inc.	BFS
	Urban Edge Properties	UE
	Urstadt Biddle Properties Inc.	UBA
	Weingarten Realty Investors	WRI
	Whitestone REIT	WSR
		

									
	Three Year (2020–2022) Relative Shareholder Return Performance Rank	Rank	Conversion Factor (1)

	90th Percentile
	1 - 2	2
	75th Percentile
	3 - 4	1.5
	50th Percentile
	5 - 9	1
	35th Percentile
	10 - 11	0.5
	Less than 35th Percentile
	12 - 17	0

1.The Conversion Factor determines the number of Units that vest, resulting in the lapsing of the Period of Restriction applicable to such Units and the issuance of one Common Share for each such vested Unit.  Example:  At the 75th percentile, the Period of Restriction will lapse with respect to 150% of the Target Number of Units and one Common Share will be issued for each such Unit.

2.If Total Shareholder Return is not available for any of the companies listed above due to (1) bankruptcy or (2) delisting due to not meeting the minimum share price requirements of the applicable stock exchange, then such company will be deemed to be at the lowest rank of the companies.  If Total Shareholder Return is not available for any of the companies listed due to merger, acquisition or take-private transaction, then such company will be omitted from the list and the number of companies included in each percentile will be adjusted accordingly.FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

  

  

  THIS FIRST AMENDMENT TO AMENDED AND
      RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of October 30, 2020, is by and among NATIONAL INSTRUMENTS CORPORATION, a Delaware corporation (the “Borrower”), the Guarantors party hereto, the
    Lenders (as defined below) party hereto and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).  Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement.

  

  

  W I T N E S S E T H

  

  

  WHEREAS, the Borrower, certain
    banks and financial institutions from time to time party thereto (the “Lenders”) and the Administrative Agent are parties to that certain Amended and Restated
    Credit Agreement dated as of June 12, 2020 (as amended, modified, extended, restated, replaced, or supplemented from time to time, the “Credit Agreement”);

  

  

  WHEREAS, the Credit Parties have
    requested that the Administrative Agent and the Lenders amend certain provisions of the Credit Agreement; and

  

  

  WHEREAS, the Administrative Agent
    and the Lenders are willing to make such amendments to the Credit Agreement, in accordance with and subject to the terms and conditions set forth herein.

  

  

  NOW, THEREFORE, in consideration of
    the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

  

  

  ARTICLE I

    AMENDMENTS TO CREDIT AGREEMENT

  

  

  1.1 Amendment to Facility Amount. 
      The reference to “$145,000,000” appearing on the cover page of the of the Credit Agreement is hereby amended to read “$215,000,000”.

  

  

  1.2 Amendment to Definition of Applicable Margin. 

      The pricing grid set forth in the definition of Applicable Margin appearing in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

  

  

  	
          Pricing Level

        	
          Consolidated Total Leverage Ratio

        	
          Commitment Fee

        	
          LIBOR +

        	
          Base Rate +

        
	
          I

        	
          Less than or equal to 1.00 to 1.00

        	
          0.250%

        	
          1.50%

        	
          0.50%

        
	
          II

        	
          Greater than 1.00 to 1.00, but less than or equal to 2.00 to 1.00

        	
          0.300%

        	
          1.75%

        	
          0.75%

        
	
          III

        	
          Greater than 2.00 to 1.00

        	
          0.375%

        	
          2.00%

        	
          1.00%

        

  

  

  1.3 Amendment to Definition of Fee Letters. 

      The definition of Fee Letters set forth in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows.

  

  

  “Fee Letters”
    means (a) the engagement letter dated as of October 29, 2020 among the Borrower, Wells Fargo and Wells Fargo Securities, LLC and (b) any letter between the Borrower and any Issuing Lender (other than Wells Fargo) relating to certain fees payable to
    such Issuing Lender in its capacity as such.

  

  

  1.4 Amendment to Definition of Incremental
          Facilities Limit.  The definition of Incremental Facilities Limit set forth in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

  

  

  “Incremental
        Facilities Limit” means, from and after the First Amendment Effective Date, (a) $100,000,000 less (b) the total aggregate initial principal
    amount (as of the date of incurrence thereof) of all previous Incremental Increases incurred pursuant to clause (a) plus (c) an unlimited amount, so long as
    after giving effect to the incurrence of such Incremental Increases, on a Pro Forma Basis (but without netting the proceeds of any Loans in connection with the Incremental Increase from such calculation and assuming all commitments thereunder are fully
    drawn), the Consolidated Total Leverage Ratio does not exceed 2.25 to 1.00.

  

  

  1.5 Amendment to Definition of LIBOR. 
      The reference to “0.75%” appearing in clause (x) contained in the last paragraph of the definition of LIBOR set forth in Section 1.1 of the Credit
      Agreement (the LIBOR floor) is hereby amended to read “0%”.

  

  

  1.6 Amendment to Definition of Revolving Credit
          Commitment.  The definition of Revolving Credit Commitment set forth in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

  

  

  “Revolving Credit
        Commitment” means (a) as to any Revolving Credit Lender, the obligation of such Revolving Credit Lender to make Revolving Credit Loans to, and to purchase participations in L/C Obligations and Swingline Loans for the account of, the
    Borrower hereunder in an aggregate principal amount at any time outstanding not to exceed the amount set forth opposite such Revolving Credit Lender’s name on the Register, as such amount may be modified at any time or from time to time pursuant to the
    terms hereof (including Section 5.13) and (b) as to all Revolving Credit Lenders, the aggregate commitment of all Revolving Credit Lenders to make Revolving Credit Loans, as such amount may be modified at any time or from time to time pursuant to the
    terms hereof (including Section 5.13).  The aggregate Revolving Credit Commitments of all the Revolving Credit Lenders on the First Amendment Effective Date shall be $115,000,000.  The Revolving Credit Commitment of each Revolving Credit Lender on the
    First Amendment Effective Date is set forth opposite the name of such Lender on Schedule 1.2.

  

  

  1.7 Amendment to Definition of Revolving Credit
          Maturity Date.  The reference to “June 12, 2023” appearing in clause (a) of the definition of Revolving Credit Maturity Date set
      forth in Section 1.1 of the Credit Agreement is hereby amended to read “June 12, 2024”.

  

  

  1.8 Amendment to Definition of Term Loan
          Commitment.  The definition of Term Loan Commitment set forth in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

  

  

  “Term Loan
        Commitment” means (a) as to any Term Loan Lender, the obligation of such Term Loan Lender to make a portion of the Initial Term Loan and/or Incremental Term Loans, as applicable, to the account of the Borrower hereunder on the First
    Amendment Effective Date (in the case of the Initial Term Loan) or the applicable borrowing date (in the case of any Incremental Term Loan) in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name on Schedule 1.2,
    as such amount may be increased, reduced or otherwise modified at any time or from time to time pursuant to the terms hereof and (b) as to all Term Loan Lenders, the aggregate commitment of all Term Loan Lenders to make such Term Loans.  The aggregate
    Term Loan Commitment with respect to the Initial Term Loan of all Term Loan Lenders on the First Amendment Effective Date shall be $100,000,000.  The Term Loan Commitment of each Term Loan Lender as of the First Amendment Effective Date is set forth
    opposite the name of such Term Loan Lender on Schedule 1.2.

  

  

  1.9 Amendment to Definition of Term Loan
          Maturity Date.  The reference to “June 12, 2023” appearing in clause (a) of the definition of Term Loan Maturity Date set forth in
      Section 1.1 of the Credit Agreement is hereby amended to read “June 12, 2024”.

  

  

  1.10 New Definition. The following
      definition is hereby added to Section 1.1 of the Credit Agreement in the appropriate alphabetical order:

  

  

  “First Amendment Effective Date”
    means October 30, 2020.

  

  

  1.11 Deleted Definition. The
      definition of “Initial Term Loan Funding Date” is hereby deleted from Section 1.1 of the Credit Agreement.

  

  

  1.12 Amendment to Section 4.1. 
      Section 4.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

  

  

  SECTION 4.1. Initial

        Term Loan.  Subject to the terms and conditions of this Agreement and the other Loan Documents, and in reliance upon the representations and warranties set forth in this Agreement and the other Loan Documents, each Term Loan Lender
    severally agrees to make the Initial Term Loan to the Borrower in a single draw on the First Amendment Effective Date in a principal amount equal to such Lender’s Term Loan Commitment.  The Term Loan Commitment with respect to the Initial Term Loan
    shall be permanently reduced to $0 and shall automatically terminate upon the funding of the Initial Term Loans on the First Amendment Effective Date.  It is understood and agreed that the Initial Term Loan made on the First Amendment Effective Date
    shall repay in full and replace the term loans made to the Borrower during the Initial Term Loan Availability Period and outstanding on the First Amendment Effective Date, and from and after the First Amendment Effective Date, all references to Initial
    Term Loan shall mean the term loan made to the Borrower on the First Amendment Effective Date.

  

  

  1.13 Amendment to Section 4.3(a). 
      Section 4.3(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

  

  

  (a) Initial Term Loan. 
      The Borrower shall repay the aggregate outstanding principal amount of the Initial Term Loan in consecutive quarterly installments on the last Business Day of each of March, June, September and December, commencing on the date that is the last day of
      the first fiscal quarter end after the First Amendment Effective Date, each such installment equal to 1.25% of the original principal amount of the Initial Term Loan as of the First Amendment Effective Date, as may be adjusted pursuant to Section 4.4
      hereof.  If not sooner paid, the Initial Term Loan shall be paid in full, together with accrued interest thereon, on the Term Loan Maturity Date.

  

  

  1.14 Amendment to Section 4.4(a).  The
      second paragraph set forth in Section 4.4(a) of the Credit Agreement is hereby deleted in its entirety.

  

  

  1.15 Amendment to Section 5.3(b). 
      Section 5.3(b) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

  

  

  (b) Reserved.

  

  

  1.16 Amendment to Section 6.2(e). 
      Section 6.2(e) of the Credit Agreement is hereby deleted in its entirety.

  

  

  1.17 Amendment to Section 8.9(a).  The
      references to “Total Leverage Ratio” appearing in Section 8.9(a) of the Credit Agreement are each hereby amended to read “Consolidated Total Leverage Ratio”.

  

  

  1.18 Revolving Commitments and Term Loan. 

      Schedule 1.2 to the Credit Agreement is hereby amended and restated as set forth on Exhibit A attached to this Amendment.  All other Schedules and Exhibits to the Credit Agreement shall not be modified or otherwise affected.  Each of the parties
      hereto consents to and agrees that, after giving effect to this Amendment, the revised (a) Revolving Credit Commitments and Revolving Credit Commitment Percentages of the Lenders and (b) Term Loan Commitment and Term Loan Commitment Percentages of
      the Lenders shall be as set forth on Schedule 1.2 contained in Exhibit A attached hereto.  In connection with this Amendment, (a) the outstanding Revolving Credit Loans and participation interests shall be reallocated by causing such fundings and
      repayments among the Lenders of Revolving Credit Loans as necessary such that, after giving effect hereto, each Lender will hold Revolving Credit Loans and participation interests based on its Revolving Credit Commitment Percentages set forth on
      Schedule 1.2 contained in Exhibit A and (b) the Initial Term Loan made on the Amendment Effective Date shall repay in full and replace the term loans made to the Borrower on the Initial Term Loan Funding Date (and each Lender will hold Initial Term
      Loans in a principal amount equal to such Lender’s Initial Term Loan Commitment).

  

  

  ARTICLE II

    CONDITIONS TO EFFECTIVENESS

  

  

  2.1 Closing Conditions.  This Amendment shall become effective as of the day and year set forth above (the “Amendment Effective Date”) upon satisfaction of the following conditions (in each case, in form and substance reasonably acceptable to the Administrative Agent):

  

  

  (a) Executed Amendment.  The Administrative Agent shall
      have received a copy of this Amendment duly executed by each of the Credit Parties, each Lender and the Administrative Agent.

  

  

  (b) No Default.  No Default or Event of Default exists
      as of the Amendment Effective Date and after giving effect to the transactions contemplated hereby.

  

  

  (c) Representations and Warranties.  The representations
      and warranties set forth in Article VII of the Credit Agreement shall (i) with respect to representations and warranties that contain a materiality qualification, be true and correct and (ii) with respect to representations and warranties that do not
      contain a materiality qualification, be true and correct in all material respects, in each case on and as of the Amendment Effective Date as if made on and as of such date, in each case except for any representation or warranty made as of an earlier
      date, which representation and warranty shall (A) with respect to representations and warranties that contain a materiality qualification, remain true and correct as of such earlier date and (B) with respect to representations and warranties that do
      not contain a materiality qualification, remain true and correct in all material respects as of such earlier date.

  

  

  (d) Corporate Documents.  The Administrative Agent shall
      have received, in form and substance reasonably satisfactory to the Lender, an officer’s certificate (i) certifying that the articles of incorporation or other organizational documents, as applicable, of each Credit Party that were delivered on the
      Closing Date remain true and complete as of the Amendment Effective Date (or certified updates as applicable), (ii) certifying that the bylaws, operating agreements or partnership agreements of each Credit Party that were delivered on the Closing
      Date remain true and correct and in force and effect as of the Amendment Effective Date (or certified updates as applicable), (iii) attaching copies of the resolutions of the board of directors of each Credit Party approving and adopting this
      Amendment, the transactions contemplated herein and authorizing execution and delivery hereof, and certifying such resolutions are true and correct and in force and effect as of the Amendment Effective Date, (iv) attaching certificates of good
      standing, existence or its equivalent with respect to each Credit Party certified as of a recent date by the appropriate Governmental Authorities of the state of incorporation or organization and (v) certifying that each officer listed in the
      incumbency certification contained in each Credit Party’s Officer’s Certificate is a duly elected and qualified officer of such Credit Party and such officer is duly authorized to execute and deliver on behalf of such Credit Party the Amendment.

  

  

  (e) Legal Opinions.  The Administrative Agent shall have
      received an opinion or opinions of counsel for the Credit Parties, dated the Amendment Effective Date and addressed to the Lender, which shall be in form and substance satisfactory to the Lender.

  

  

  (f) Fees and Expenses.  The Administrative Agent shall
      have received such fees and expenses that are payable in connection with this Amendment, and King & Spalding LLP shall have received from the Borrower payment of all
        reasonable and documented fees and expenses incurred in connection with this Amendment, in each case to the extent invoices therefor are provided to the Borrower at least one Business Day prior to the Amendment Effective Date.

   

   

    

  (g) Miscellaneous.  All other documents and legal matters in
      connection with the transactions contemplated by this Amendment shall be reasonably satisfactory in form and substance to the Lender and its counsel.

  

  ARTICLE III

    MISCELLANEOUS

  

  

  3.1 Amended Terms.  On and after the Amendment Effective Date, all references to the Credit Agreement in each of the Loan Documents shall hereafter mean the Credit
      Agreement as amended by this Amendment.  Except as specifically amended hereby or otherwise agreed, the Credit Agreement is hereby ratified and confirmed and shall remain in full force and effect according to its terms.

  

  

  3.2 Representations and Warranties of Credit
          Parties.  Each of the Credit Parties represents and warrants as follows:

  

  

  (a) It has taken all necessary corporate or other necessary company action on the part of such Credit Party to authorize the execution, delivery
      and performance of this Amendment by such Credit Party.

  

  

  (b) This Amendment has been duly executed and delivered by such Credit Party and constitutes such Credit Party’s legal, valid and binding
      obligation, enforceable against such Credit Party in accordance with its terms, except as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting
      creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity).

  

  

  (c) No consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or third
      party is required in connection with the execution, delivery or performance by such Credit Party of this Amendment.

  

  

  (d) The representations and warranties set forth in Article VII of the Credit Agreement are (i) with respect to representations and warranties that
      contain a materiality qualification, true and correct and (ii) with respect to representations and warranties that do not contain a materiality qualification, true and correct in all material respects, in each case as of the date hereof (in each case
      except for those which  are made as of an earlier date).

  

  

  (e) After giving effect to this Amendment, no event has occurred and is continuing which constitutes a Default or an Event of Default.

  

  

  (f) Except as provided in this Amendment, the Credit Party Obligations are not reduced or modified by this Amendment and, to the knowledge of the
      Credit Parties, are not subject to any offsets, defenses or counterclaims.

  

  

  (f) The information contained in the Beneficial Ownership Certification dated June 4, 2020 is true and correct in all material respects.

  

  

  3.3 Reaffirmation of Credit Party Obligations.  Each Credit Party hereby ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement and
      the other Loan Documents (including, without limitation, the Subsidiary Guaranty Agreement) applicable to it and (b) that it is responsible for the observance and full performance of its respective Obligations.

  

  

  3.4 Loan Document.  This Amendment shall constitute a Loan Document under the terms of the Credit Agreement.

  

  

  3.5 Expenses.  The Borrower agrees to pay all reasonable and documented costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of
      this Amendment, including without limitation, the reasonable and documented fees and expenses of the Administrative Agent’s legal counsel.

  

  

  3.6 Further Assurances.  The Credit Parties agree to promptly take such action, upon the request of the Lender, as is reasonably necessary to carry out the intent of this
      Amendment.

  

  

  3.7 Entirety.  This Amendment and the other Loan Documents embody the entire agreement among the parties hereto and supersede all prior agreements and understandings, oral or
      written, if any, relating to the subject matter hereof.

  

  

  3.8 Counterparts; Telecopy.  This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which
      shall constitute one and the same instrument.  Delivery of an executed counterpart to this Amendment by telecopy or other electronic means shall be effective as an original and shall constitute a representation that an original will be delivered.

  

  

  3.9 No Actions, Claims, Etc.  As of the date hereof, each of the Credit Parties hereby acknowledges and confirms that it has no knowledge of any actions, causes of action,
      claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, against the Lender or the Lenders’ respective officers, employees, representatives, agents, counsel or directors arising from any action by such Persons, or
      failure of such Persons to act under the Credit Agreement on or prior to the date hereof.

  

  

  3.10 GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE
        CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

  

  

  3.11 Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

  

  

  3.12 Consent to Jurisdiction; Service of Process;
          Waiver of Jury Trial.  The jurisdiction, service of process and waiver of jury trial provisions set forth in Sections 12.5 and 12.6 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis.

  

  

  

  

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  IN WITNESS WHEREOF the parties hereto have caused this Amendment to be duly executed on the date first above written.

  

  

  
    

    

    	 	
            BORROWER:

          	
            NATIONAL INSTRUMENTS CORPORATION,

          
	 	 	
            a Delaware corporation

          
	 	 	 
	 	 By:	
            /s/ Karen M. Rapp

          	 
	 	 	
            Name:  Karen M. Rapp

            Title:  Executive Vice President, Chief Financial Officer and Treasurer

          

    

    

    

    

    	 	
            GUARANTORS:

          	
            PHASE MATRIX, INC.,

          
	 	 	
            a California corporation

          
	 	 	 
	 	 By:	
            /s/ Karen M. Rapp

          	 
	 	 	
            Name:  Karen M. Rapp

            Title:  Treasurer

          

    

    

  

  

  
    
      
        

        

        [Signature Page to First Amendment to Amended and Restated Credit Agreement]

      

    

    
      

    

  

  
    

    

    	 	
            ADMINISTRATIVE AGENT:

          	
            WELLS FARGO BANK, NATIONAL ASSOCIATION, as

          
	 	 	
            Administrative Agent and as a Lender

          
	 	 	 
	 	 By: 

          	
            /s/ Chad D. Johnson

          	 
	 	 	
            Name:  Chad D. Johnson

            Title:  Senior Vice President

          

    

    

  

  

  
    
      
        

        

        [Signature Page to First Amendment to Amended and Restated Credit Agreement]

      

    

    
      

    

  

  

  

  

  	 	
          LENDERS:

        	
          BANK OF AMERICA, N.A., as a Lender

        
	 	 	 
	 	 By:	
          /s/ Adam Rose

        	 
	 	 	
          Name:  Adam Rose

          Title:  SVP

        

  

  

  
    
      
        

        

        [Signature Page to First Amendment to Amended and Restated Credit Agreement]

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