Document:

Amended And Restated 2004 Stock Incentive Plan & Form Of Agreement

 Exhibit 10.1 
  
 PERICOM SEMICONDUCTOR CORPORATION 
  
 2004 STOCK INCENTIVE PLAN 
  
 (as amended and restated January 24, 2005) 
  
 1. Purposes of the Plan. The purposes of this Plan are to attract and retain the best available personnel, to provide additional incentives to
Employees, Directors and Consultants and to promote the success of the Company’s business. 
  
 2. Definitions. The following definitions shall apply as used herein and in the individual Award Agreements except as defined otherwise in an
individual Award Agreement. In the event a term is separately defined in an individual Award Agreement, such definition shall supercede the definition contained in this Section 2. 
  
 (a) “Administrator” means the Board or any of the Committees appointed to administer the Plan. 

 
 (b) “Affiliate” and “Associate” shall
have the respective meanings ascribed to such terms in Rule 12b-2 promulgated under the Exchange Act. 
  
 (c) “Applicable Laws” means the legal requirements relating to the Plan and the Awards under applicable provisions of federal securities
laws, state corporate and securities laws, the Code, the rules of any applicable stock exchange or national market system, and the rules of any non-U.S. jurisdiction applicable to Awards granted to residents therein. 
  
 (d) “Assumed” means that pursuant to a Corporate Transaction
either (i) the Award is expressly affirmed by the Company or (ii) the contractual obligations represented by the Award are expressly assumed (and not simply by operation of law) by the successor entity or its Parent in connection with the Corporate
Transaction with appropriate adjustments to the number and type of securities of the successor entity or its Parent subject to the Award and the exercise or purchase price thereof which at least preserves the compensation element of the Award
existing at the time of the Corporate Transaction as determined in accordance with the instruments evidencing the agreement to assume the Award. 
  
 (e) “Award” means the grant of an Option, SAR, Dividend Equivalent Right, Restricted Stock, Restricted Stock Unit or other right or
benefit under the Plan. 
  
 (f) “Award Agreement”
means the written agreement evidencing the grant of an Award executed by the Company and the Grantee, including any amendments thereto. 
  
 (g) “Board” means the Board of Directors of the Company. 
  
 (h) “Cause” means, with respect to the termination by the Company or a Related Entity of the Grantee’s
Continuous Service, that such termination is for “Cause” as such term is expressly defined in a then-effective written agreement between the Grantee and the 

  

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Company or such Related Entity, or in the absence of such then-effective written agreement and definition, is based on, in the determination of the
Administrator, the Grantee’s: (i) performance of any act or failure to perform any act in bad faith and to the detriment of the Company or a Related Entity; (ii) dishonesty, intentional misconduct or material breach of any agreement with the
Company or a Related Entity; or (iii) commission of a crime involving dishonesty, breach of trust, or physical or emotional harm to any person. 
  
 (i) “Change in Control” means a change in ownership or control of the Company effected through either of the following transactions:

  
 (i) the direct or indirect acquisition by any person or
related group of persons (other than an acquisition from or by the Company or by a Company-sponsored employee benefit plan or by a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of
beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange offer
made directly to the Company’s shareholders which a majority of the Continuing Directors who are not Affiliates or Associates of the offeror do not recommend such shareholders accept, or 
  
 (ii) a change in the composition of the Board over a period of thirty-six
(36) months or less such that a majority of the Board members (rounded up to the next whole number) ceases, by reason of one or more contested elections for Board membership, to be comprised of individuals who are Continuing Directors. 

 
 (j) “Code” means the Internal Revenue Code of 1986, as
amended. 
  
 (k) “Committee” means any committee
composed of members of the Board appointed by the Board to administer the Plan. 
  
 (l) “Common Stock” means the common stock of the Company. 
  
 (m) “Company” means Pericom Semiconductor Corporation, a California corporation, or any successor entity that adopts the Plan in
connection with a Corporate Transaction. 
  
 (n)
“Consultant” means any person (other than an Employee or a Director, solely with respect to rendering services in such person’s capacity as a Director) who is engaged by the Company or any Related Entity to render consulting or
advisory services to the Company or such Related Entity. 
  
 (o)
“Continuing Directors” means members of the Board who either (i) have been Board members continuously for a period of at least thirty-six (36) months or (ii) have been Board members for less than thirty-six (36) months and were
elected or nominated for election as Board members by at least a majority of the Board members described in clause (i) who were still in office at the time such election or nomination was approved by the Board. 
  

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 (p) “Continuous Service” means that the provision of services to the Company or a
Related Entity in any capacity of Employee, Director or Consultant is not interrupted or terminated. In jurisdictions requiring notice in advance of an effective termination as an Employee, Director or Consultant, Continuous Service shall be deemed
terminated upon the actual cessation of providing services to the Company or a Related Entity notwithstanding any required notice period that must be fulfilled before a termination as an Employee, Director or Consultant can be effective under
Applicable Laws. A Grantee’s Continuous Service shall be deemed to have terminated either upon an actual termination of Continuous Service or upon the entity for which the Grantee provides services ceasing to be a Related Entity. Continuous
Service shall not be considered interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company, any Related Entity, or any successor, in any capacity of Employee, Director or Consultant, or (iii) any change in status
as long as the individual remains in the service of the Company or a Related Entity in any capacity of Employee, Director or Consultant (except as otherwise provided in the Award Agreement). An approved leave of absence shall include sick leave,
military leave, or any other authorized personal leave. For purposes of each Incentive Stock Option granted under the Plan, if such leave exceeds three (3) months, and reemployment upon expiration of such leave is not guaranteed by statute or
contract, then the Incentive Stock Option shall be treated as a Non-Qualified Stock Option on the day three (3) months and one (1) day following the expiration of such three (3) month period. 
  
 (q) “Corporate Transaction” means any of the following
transactions, provided, however, that the Administrator shall determine under parts (iv) and (v) whether multiple transactions are related, and its determination shall be final, binding and conclusive: 
  
 (i) a merger or consolidation in which the Company is not the surviving
entity, except for a transaction the principal purpose of which is to change the state in which the Company is incorporated; 
  
 (ii) the sale, transfer or other disposition of all or substantially all of the assets of the Company; 
  
 (iii) the complete liquidation or dissolution of the Company; 
  
 (iv) any reverse merger or series of related transactions culminating in a
reverse merger (including, but not limited to, a tender offer followed by a reverse merger) in which the Company is the surviving entity but (A) the shares of Common Stock outstanding immediately prior to such merger are converted or exchanged by
virtue of the merger into other property, whether in the form of securities, cash or otherwise, or (B) in which securities possessing more than forty percent (40%) of the total combined voting power of the Company’s outstanding securities are
transferred to a person or persons different from those who held such securities immediately prior to such merger or the initial transaction culminating in such merger, but excluding any such transaction or series of related transactions that the
Administrator determines shall not be a Corporate Transaction; or 
  
 (v) acquisition in a single or series of related transactions by any person or related group of persons (other than the Company or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of
the 

  

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Exchange Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities but
excluding any such transaction or series of related transactions that the Administrator determines shall not be a Corporate Transaction. 
  
 (r) “Covered Employee” means an Employee who is a “covered employee” under Section 162(m)(3) of the Code. 
  
 (s) “Director” means a member of the Board or the board of
directors of any Related Entity. 
  
 (t)
“Disability” means as defined under the long-term disability policy of the Company or the Related Entity to which the Grantee provides services regardless of whether the Grantee is covered by such policy. If the Company or the
Related Entity to which the Grantee provides service does not have a long-term disability plan in place, “Disability” means that a Grantee is unable to carry out the responsibilities and functions of the position held by the Grantee by
reason of any medically determinable physical or mental impairment for a period of not less than ninety (90) consecutive days. A Grantee will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment
sufficient to satisfy the Administrator in its discretion. 
  
 (u)
“Dividend Equivalent Right” means a right entitling the Grantee to compensation measured by dividends paid with respect to Common Stock. 
  
 (v) “Employee” means any person, including an Officer or Director, who is in the employ of the Company or any Related Entity, subject to
the control and direction of the Company or any Related Entity as to both the work to be performed and the manner and method of performance. The payment of a director’s fee by the Company or a Related Entity shall not be sufficient to
constitute “employment” by the Company. 
  
 (w)
“Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  
 (x) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 
  
 (i) If the Common Stock is listed on one or more established stock exchanges or national market systems, including without limitation The Nasdaq National
Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on which the Common
Stock is listed (as determined by the Administrator) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading date such closing sales price or closing bid was reported),
as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
  
 (ii) If the Common Stock is regularly quoted on an automated quotation system (including the OTC Bulletin Board) or by a recognized securities dealer,
its Fair Market Value shall be the closing sales price for such stock as quoted on such system or by 

  

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such securities dealer on the date of determination, but if selling prices are not reported, the Fair Market Value of a share of Common Stock shall be the
mean between the high bid and low asked prices for the Common Stock on the date of determination (or, if no such prices were reported on that date, on the last date such prices were reported), as reported in The Wall Street Journal or such other
source as the Administrator deems reliable; or 
  
 (iii) In the
absence of an established market for the Common Stock of the type described in (i) and (ii), above, the Fair Market Value thereof shall be determined by the Administrator in good faith. 
  
 (y) “Grantee” means an Employee, Director or Consultant who receives an Award under the Plan. 

 
 (z) “Incentive Stock Option” means an Option intended to
qualify as an incentive stock option within the meaning of Section 422 of the Code 
  
 (aa) “Non-Qualified Stock Option” means an Option not intended to qualify as an Incentive Stock Option. 
  
 (bb) “Officer” means a person who is an officer of the Company or a Related Entity within the meaning of Section 16 of the Exchange Act
and the rules and regulations promulgated thereunder. 
  
 (cc)
“Option” means an option to purchase Shares pursuant to an Award Agreement granted under the Plan. 
  
 (dd) “Parent” means a “parent corporation”, whether now or hereafter existing, as defined in Section 424(e) of the Code.

  
 (ee) “Performance-Based Compensation” means
compensation qualifying as “performance-based compensation” under Section 162(m) of the Code. 
  
 (ff) “Plan” means this 2004 Stock Incentive Plan. 
  
 (gg) “Related Entity” means any Parent or Subsidiary of the Company and any business, corporation,
partnership, limited liability company or other entity in which the Company or a Parent or a Subsidiary of the Company holds a substantial ownership interest, directly or indirectly. 
  
 (hh) “Replaced” means that pursuant to a Corporate Transaction the Award is replaced with a comparable
stock award or a cash incentive program of the Company, the successor entity (if applicable) or Parent of either of them which preserves the compensation element of such Award existing at the time of the Corporate Transaction and provides for
subsequent payout in accordance with the same (or a more favorable) vesting schedule applicable to such Award. The determination of Award comparability shall be made by the Administrator and its determination shall be final, binding and conclusive.

  

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 (ii) “Restricted Stock” means Shares issued under the Plan to the Grantee for such
consideration, if any, and subject to such restrictions on transfer, rights of first refusal, repurchase provisions, forfeiture provisions, and other terms and conditions as established by the Administrator. 
  
 (jj) “Restricted Stock Units” means an Award which may be
earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as
established by the Administrator. 
  
 (kk) “Rule
16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor thereto. 
  
 (ll) “SAR” means a stock appreciation right entitling the Grantee to Shares or cash compensation, as established by the Administrator, measured by appreciation in the value of Common Stock.

  
 (mm) “Share” means a share of the Common
Stock. 
  
 (nn) “Subsidiary” means a
“subsidiary corporation”, whether now or hereafter existing, as defined in Section 424(f) of the Code. 
  
 3. Stock Subject to the Plan. 
  
 (a) Subject to the provisions of Section 10, below, the maximum aggregate number of Shares which may be issued pursuant to all Awards (including Incentive
Stock Options) is 2,250,000 Shares. Notwithstanding the foregoing, the maximum aggregate number of Shares which may be issued pursuant to Awards (other than SARs and Options) is 225,000 Shares. In addition, Dividend Equivalent Rights shall be
payable solely in cash and therefore the issuance of Dividend Equivalent Rights shall not be deemed to reduce the maximum aggregate number of Shares which may be issued under the Plan. The Shares to be issued pursuant to Awards may be authorized,
but unissued, or reacquired Common Stock. 
  
 (b) Any Shares
covered by an Award (or portion of an Award) which is forfeited, canceled or expires (whether voluntarily or involuntarily) shall be deemed not to have been issued for purposes of determining the maximum aggregate number of Shares which may be
issued under the Plan. Shares that actually have been issued under the Plan pursuant to an Award shall not be returned to the Plan and shall not become available for future issuance under the Plan, except that if unvested Shares are forfeited, or
repurchased by the Company at the lower of their original purchase price or their Fair Market Value at the time of repurchase, such Shares shall become available for future grant under the Plan. To the extent not prohibited by the listing
requirements of The Nasdaq National Market (or other established stock exchange or national market system on which the Common Stock is traded) and Applicable Law, any Shares covered by an Award which are surrendered (i) in payment of the Award
exercise or purchase price or (ii) in satisfaction of tax withholding obligations incident to the exercise of an Award shall be deemed not to have been issued for purposes of determining the maximum number of Shares which may be issued pursuant to
all Awards under the Plan, unless otherwise determined by the Administrator. 
  

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 4. Administration of the Plan. 
  
 (a) Plan Administrator. 
  
 (i) Administration with Respect to Directors and Officers. With respect to grants of Awards to Directors or Employees who are also Officers or
Directors of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board, which Committee shall be constituted in such a manner as to satisfy the Applicable Laws and to permit such grants and related
transactions under the Plan to be exempt from Section 16(b) of the Exchange Act in accordance with Rule 16b-3. Once appointed, such Committee shall continue to serve in its designated capacity until otherwise directed by the Board. 
  
 (ii) Administration With Respect to Consultants and Other Employees.
With respect to grants of Awards to Employees or Consultants who are neither Directors nor Officers of the Company, the Plan shall be administered by (A) the Board or (B) a Committee designated by the Board, which Committee shall be constituted in
such a manner as to satisfy the Applicable Laws. Once appointed, such Committee shall continue to serve in its designated capacity until otherwise directed by the Board. The Board may authorize one or more Officers to grant such Awards and may limit
such authority as the Board determines from time to time. 
  
 (iii) Administration With Respect to Covered Employees. Notwithstanding the foregoing, grants of Awards to any Covered Employee intended to qualify as Performance-Based Compensation shall be made only by a Committee (or subcommittee
of a Committee) which is comprised solely of two or more Directors eligible to serve on a committee making Awards qualifying as Performance-Based Compensation. In the case of such Awards granted to Covered Employees, references to the
“Administrator” or to a “Committee” shall be deemed to be references to such Committee or subcommittee. 
  
 (iv) Administration Errors. In the event an Award is granted in a manner inconsistent with the provisions of this subsection (a), such Award shall
be presumptively valid as of its grant date to the extent permitted by the Applicable Laws. 
  
 (b) Powers of the Administrator. Subject to Applicable Laws and the provisions of the Plan (including any other powers given to the Administrator hereunder), and except as otherwise provided by the Board, the
Administrator shall have the authority, in its discretion: 
  
 (i) to select the Employees, Directors and Consultants to whom Awards may be granted from time to time hereunder; 
  
 (ii) to determine whether and to what extent Awards are granted hereunder; 
  
 (iii) to determine the number of Shares or the amount of other consideration to be covered by each Award granted hereunder;

  
 (iv) to approve forms of Award Agreements for use under the
Plan; 
  

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 (v) to determine the terms and conditions of any Award granted hereunder; 
  
 (vi) to amend the terms of any outstanding Award granted under the Plan,
provided that (A) any amendment that would adversely affect the Grantee’s rights under an outstanding Award shall not be made without the Grantee’s written consent, (B) the reduction of the exercise price of any Option awarded under the
Plan shall be subject to shareholder approval, (C) canceling an Option at a time when its exercise price exceeds the Fair Market Value of the underlying Shares, in exchange for another Option, Restricted Stock, or other Award shall be subject to
shareholder approval, unless the cancellation and exchange occurs in connection with a Corporate Transaction, and (D) the vesting schedule for Awards of Restricted Stock and Restricted Stock Units may only be amended in the event of a Corporate
Transaction or a Change in Control or in the event of the Grantee’s death or Disability; 
  
 (vii) to construe and interpret the terms of the Plan and Awards, including without limitation, any notice of award or Award Agreement, granted pursuant to the Plan; 
  
 (viii) to grant Awards to Employees, Directors and Consultants employed
outside the United States on such terms and conditions different from those specified in the Plan as may, in the judgment of the Administrator, be necessary or desirable to further the purpose of the Plan; and 
  
 (ix) to take such other action, not inconsistent with the terms of the Plan,
as the Administrator deems appropriate. 
  
 (c)
Indemnification. In addition to such other rights of indemnification as they may have as members of the Board or as Officers or Employees of the Company or a Related Entity, members of the Board and any Officers or Employees of the Company or
a Related Entity to whom authority to act for the Board, the Administrator or the Company is delegated shall be defended and indemnified by the Company to the extent permitted by law on an after-tax basis against all reasonable expenses, including
attorneys’ fees, actually and necessarily incurred in connection with the defense of any claim, investigation, action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may be a party by reason of any
action taken or failure to act under or in connection with the Plan, or any Award granted hereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by the Company) or paid by them in satisfaction of
a judgment in any such claim, investigation, action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such claim, investigation, action, suit or proceeding that such person is liable for gross negligence, bad
faith or intentional misconduct; provided, however, that within thirty (30) days after the institution of such claim, investigation, action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity at the
Company’s expense to defend the same. 
  
 5.
Eligibility. Awards other than Incentive Stock Options may be granted to Employees, Directors and Consultants. Incentive Stock Options may be granted only to Employees of the Company or a Parent or a Subsidiary of the Company. An Employee,
Director 

  

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or Consultant who has been granted an Award may, if otherwise eligible, be granted additional Awards. Awards may be granted to such Employees, Directors or
Consultants who are residing in non-U.S. jurisdictions as the Administrator may determine from time to time. 
  
 6. Terms and Conditions of Awards. 
  
 (a) Types of Awards. The Administrator is authorized under the Plan to award any type of arrangement to an Employee, Director or Consultant that is
not inconsistent with the provisions of the Plan and that by its terms involves or might involve the issuance of (i) Shares, (ii) cash or (iii) an Option, a SAR, or similar right with a fixed or variable price related to the Fair Market Value of the
Shares and with an exercise or conversion privilege related to the passage of time, the occurrence of one or more events, or the satisfaction of performance criteria or other conditions. Such awards include, without limitation, Options, SARs, sales
or bonuses of Restricted Stock, Restricted Stock Units or Dividend Equivalent Rights, and an Award may consist of one such security or benefit, or two (2) or more of them in any combination or alternative. 
  
 (b) Designation of Award. Each Award shall be designated in the Award
Agreement. In the case of an Option, the Option shall be designated as either an Incentive Stock Option or a Non-Qualified Stock Option. However, notwithstanding such designation, an Option will qualify as an Incentive Stock Option under the Code
only to the extent the $100,000 dollar limitation of Section 422(d) of the Code is not exceeded. The $100,000 limitation of Section 422(d) of the Code is calculated based on the aggregate Fair Market Value of the Shares subject to Options designated
as Incentive Stock Options which become exercisable for the first time by a Grantee during any calendar year (under all plans of the Company or any Parent or Subsidiary of the Company). For purposes of this calculation, Incentive Stock Options shall
be taken into account in the order in which they were granted, and the Fair Market Value of the Shares shall be determined as of the grant date of the relevant Option. 
  
 (c) Conditions of Award. Subject to the terms of the Plan, the Administrator shall determine the provisions, terms,
and conditions of each Award including, but not limited to, the Award vesting schedule, repurchase provisions, rights of first refusal, forfeiture provisions, form of payment (cash, Shares, or other consideration) upon settlement of the Award,
payment contingencies, and satisfaction of any performance criteria. The performance criteria established by the Administrator may be based on any one of, or combination of, the following: (i) increase in share price, (ii) earnings per share, (iii)
total shareholder return, (iv) operating margin, (v) gross margin, (vi) return on equity, (vii) return on assets, (viii) return on investment, (ix) operating income, (x) net operating income, (xi) pre-tax profit, (xii) cash flow, (xiii) revenue,
(xiv) expenses, (xv) earnings before interest, taxes and depreciation, (xvi) economic value added and (xvii) market share. The performance criteria may be applicable to the Company, Related Entities and/or any individual business units of the
Company or any Related Entity. Partial achievement of the specified criteria may result in a payment or vesting corresponding to the degree of achievement as specified in the Award Agreement. 
  
 (d) Acquisitions and Other Transactions. The Administrator may issue
Awards under the Plan in settlement, assumption or substitution for, outstanding awards or obligations to grant future awards in connection with the Company or a Related Entity acquiring another entity, an interest in another entity or an additional
interest in a Related Entity whether by merger, stock purchase, asset purchase or other form of transaction. 
  
  

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 (e) Deferral of Award Payment. The Administrator may establish one or more programs under the Plan
to permit selected Grantees the opportunity to elect to defer receipt of consideration upon exercise of an Award, satisfaction of performance criteria, or other event that absent the election would entitle the Grantee to payment or receipt of Shares
or other consideration under an Award. The Administrator may establish the election procedures, the timing of such elections, the mechanisms for payments of, and accrual of interest or other earnings, if any, on amounts, Shares or other
consideration so deferred, and such other terms, conditions, rules and procedures that the Administrator deems advisable for the administration of any such deferral program. 
  
 (f) Separate Programs. The Administrator may establish one or more separate programs under the Plan for the purpose
of issuing particular forms of Awards to one or more classes of Grantees on such terms and conditions as determined by the Administrator from time to time.  
  
 (g) Individual Limitations on Awards. 
  
 (i) Individual Limit for Options and SARs. The maximum number of Shares with respect to which Options and SARs may
be granted to any Grantee in any fiscal year of the Company shall be 500,000. In connection with a Grantee’s commencement of Continuous Service, a Grantee may be granted Options and SARs for up to an additional 250,000 Shares which shall not
count against the limit set forth in the previous sentence. The foregoing limitations shall be adjusted proportionately in connection with any change in the Company’s capitalization pursuant to Section 10, below. To the extent required by
Section 162(m) of the Code or the regulations thereunder, in applying the foregoing limitations with respect to a Grantee, if any Option or SAR is canceled, the canceled Option or SAR shall continue to count against the maximum number of Shares with
respect to which Options and SARs may be granted to the Grantee. For this purpose, the repricing of an Option (or in the case of a SAR, the base amount on which the stock appreciation is calculated is reduced to reflect a reduction in the Fair
Market Value of the Common Stock) shall be treated as the cancellation of the existing Option or SAR and the grant of a new Option or SAR. 
  
 (ii) Individual Limit for Restricted Stock and Restricted Stock Units. For awards of Restricted Stock and Restricted Stock Units that are intended
to be Performance-Based Compensation, the maximum number of Shares with respect to which such Awards may be granted to any Grantee in any fiscal year of the Company shall be 500,000. The foregoing limitation shall be adjusted proportionately in
connection with any change in the Company’s capitalization pursuant to Section 10, below. 
  
 (iii) Deferral. If the vesting or receipt of Shares under an Award is deferred to a later date, any amount (whether denominated in Shares or cash)
paid in addition to the original number of Shares subject to such Award will not be treated as an increase in the number of Shares subject to the Award if the additional amount is based either on a reasonable rate of interest or on one or more
predetermined actual investments such that the amount payable by the Company at the later date will be based on the actual rate of return of a specific investment (including any decrease as well as any increase in the value of an investment).

  

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 (h) Early Exercise. The Award Agreement may, but need not, include a provision whereby the Grantee
may elect at any time while an Employee, Director or Consultant to exercise any part or all of the Award prior to full vesting of the Award. Any unvested Shares received pursuant to such exercise may be subject to a repurchase right in favor of the
Company or a Related Entity or to any other restriction the Administrator determines to be appropriate. 
  
 (i) Term of Award. The term of each Award shall be the term stated in the Award Agreement, provided, however, that the term of an Incentive Stock
Option shall be no more than ten (10) years from the date of grant thereof. However, in the case of an Incentive Stock Option granted to a Grantee who, at the time the Option is granted, owns stock representing more than ten percent (10%) of the
voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company, the term of the Incentive Stock Option shall be five (5) years from the date of grant thereof or such shorter term as may be provided in the Award
Agreement. Notwithstanding the foregoing, the specified term of any Award shall not include any period for which the Grantee has elected to defer the receipt of the Shares or cash issuable pursuant to the Award. 
  
 (j) Transferability of Awards. Incentive Stock Options may not be
sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Grantee, only by the Grantee. Other Awards shall be
transferable (i) by will and by the laws of descent and distribution and (ii) during the lifetime of the Grantee, to the extent and in the manner authorized by the Administrator. Notwithstanding the foregoing, the Grantee may designate one or more
beneficiaries of the Grantee’s Award in the event of the Grantee’s death on a beneficiary designation form provided by the Administrator. 
  
 (k) Vesting of Restricted Stock and Restricted Stock Units. Awards of Restricted Stock and Restricted Stock Units issued under the Plan shall vest
and be released from the risk of forfeiture over a period of no less than three (3) years measured from the date of issuance of the Award. Notwithstanding the foregoing, Awards of Restricted Stock and Restricted Stock Units subject to
performance-based vesting may vest and be released from the risk of forfeiture over a period of no less than one (1) year measured from the date of issuance of the Award. As provided in Section 4(b)(vi), the vesting schedule for Awards of Restricted
Stock and Restricted Stock Units may only be amended in the event of a Corporate Transaction or a Change in Control or in the event of the Grantee’s death or Disability. 
  
 (l) Time of Granting Awards. The date of grant of an Award shall for all purposes be the date on which the
Administrator makes the determination to grant such Award, or such other date as is determined by the Administrator. 
  

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 7. Award Exercise or Purchase Price, Consideration and Taxes. 
  
 (a) Exercise or Purchase Price. The exercise or purchase price, if
any, for an Award shall be as follows: 
  
 (i) In the case of an
Incentive Stock Option: 
  
 (A) granted to an Employee who, at
the time of the grant of such Incentive Stock Option owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary of the Company, the per Share exercise price shall be not
less than one hundred ten percent (110%) of the Fair Market Value per Share on the date of grant; or 
  
 (B) granted to any Employee other than an Employee described in the preceding paragraph, the per Share exercise price shall be not less than one hundred
percent (100%) of the Fair Market Value per Share on the date of grant. 
  
 (ii) In the case of a Non-Qualified Stock Option, the per Share exercise price shall be not less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. 
  
 (iii) In the case of SARs, the base appreciation amount shall be not less
than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. 
  
 (iv) In the case of Awards intended to qualify as Performance-Based Compensation, the exercise or purchase price, if any, shall be not less than one hundred percent (100%) of the Fair Market Value per Share on the
date of grant. 
  
 (v) In the case of other Awards, such price as
is determined by the Administrator. 
  
 (vi) Notwithstanding the
foregoing provisions of this Section 7(a), in the case of an Award issued pursuant to Section 6(d), above, the exercise or purchase price for the Award shall be determined in accordance with the provisions of the relevant instrument evidencing the
agreement to issue such Award. 
  
 (b) Consideration.
Subject to Applicable Laws, the consideration to be paid for the Shares to be issued upon exercise or purchase of an Award including the method of payment, shall be determined by the Administrator. In addition to any other types of consideration the
Administrator may determine, the Administrator is authorized to accept as consideration for Shares issued under the Plan the following: 
  
 (i) cash; 
  
 (ii) check; 
  
 (iii) surrender of Shares or delivery of a properly executed form of attestation of ownership of Shares as the Administrator may require which have a
Fair Market 

  

 12 

 
Value on the date of surrender or attestation equal to the aggregate exercise price of the Shares as to which said Award shall be exercised, provided,
however, that Shares acquired under the Plan or any other equity compensation plan or agreement of the Company must have been held by the Grantee for a period of more than six (6) months (and not used for another Award exercise by attestation during
such period); 
  
 (iv) with respect to Options, payment through a
broker-dealer sale and remittance procedure pursuant to which the Grantee (A) shall provide written instructions to a Company designated brokerage firm to effect the immediate sale of some or all of the purchased Shares and remit to the Company
sufficient funds to cover the aggregate exercise price payable for the purchased Shares and (B) shall provide written directives to the Company to deliver the certificates for the purchased Shares directly to such brokerage firm in order to complete
the sale transaction; or 
  
 (v) any combination of the foregoing
methods of payment. 
  
 The Administrator may at any time or from time to time, by
adoption of or by amendment to the standard forms of Award Agreement described in Section 4(b)(iv), or by other means, grant Awards which do not permit all of the foregoing forms of consideration to be used in payment for the Shares or which
otherwise restrict one or more forms of consideration. 
  
 (c)
Taxes. No Shares shall be delivered under the Plan to any Grantee or other person until such Grantee or other person has made arrangements acceptable to the Administrator for the satisfaction of any non-U.S., federal, state, or local income
and employment tax withholding obligations, including, without limitation, obligations incident to the receipt of Shares or the disqualifying disposition of Shares received on exercise of an Incentive Stock Option. Upon exercise or vesting of an
Award the Company shall withhold or collect from Grantee an amount sufficient to satisfy such tax obligations, including, but not limited to, by surrender of the whole number of Shares covered by the Award sufficient to satisfy the minimum
applicable tax withholding obligations incident to the exercise or vesting of an Award. 
  
 8. Exercise of Award. 
  
 (a) Procedure for Exercise; Rights as a Shareholder. 
  
 (i) Any Award granted hereunder shall be exercisable at such times and under such conditions as determined by the Administrator under the terms of the Plan and specified in the Award Agreement. 
  
 (ii) An Award shall be deemed to be exercised when written notice of such
exercise has been given to the Company in accordance with the terms of the Award by the person entitled to exercise the Award and full payment for the Shares with respect to which the Award is exercised has been made, including, to the extent
selected, use of the broker-dealer sale and remittance procedure to pay the purchase price as provided in Section 7(b)(iv). 
  

 13 

 (b) Exercise of Award Following Termination of Continuous Service. 
  
 (i) An Award may not be exercised after the termination date of such Award
set forth in the Award Agreement and may be exercised following the termination of a Grantee’s Continuous Service only to the extent provided in the Award Agreement. 
  
 (ii) Where the Award Agreement permits a Grantee to exercise an Award following the termination of the Grantee’s
Continuous Service for a specified period, the Award shall terminate to the extent not exercised on the last day of the specified period or the last day of the original term of the Award, whichever occurs first. 
  
 (iii) Any Award designated as an Incentive Stock Option to the extent not
exercised within the time permitted by law for the exercise of Incentive Stock Options following the termination of a Grantee’s Continuous Service shall convert automatically to a Non-Qualified Stock Option and thereafter shall be exercisable
as such to the extent exercisable by its terms for the period specified in the Award Agreement. 
  
 9. Conditions Upon Issuance of Shares. 
  
 (a) Shares shall not be issued pursuant to the exercise of an Award unless the exercise of such Award and the issuance and delivery of such Shares
pursuant thereto shall comply with all Applicable Laws, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 
  

(b) As a condition to the exercise of an Award, the Company may require the person exercising such Award to represent and warrant at the time of any
such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required by any Applicable Laws.

  
 10. Adjustments Upon Changes in Capitalization. Subject
to any required action by the shareholders of the Company, the number of Shares covered by each outstanding Award, and the number of Shares which have been authorized for issuance under the Plan but as to which no Awards have yet been granted or
which have been returned to the Plan, the exercise or purchase price of each such outstanding Award, the maximum number of Shares with respect to which Awards may be granted to any Grantee in any fiscal year of the Company, as well as any other
terms that the Administrator determines require adjustment shall be proportionately adjusted for (i) any increase or decrease in the number of issued Shares resulting from a stock split, reverse stock split, stock dividend, combination or
reclassification of the Shares, or similar transaction affecting the Shares, (ii) any other increase or decrease in the number of issued Shares effected without receipt of consideration by the Company, or (iii) as the Administrator may determine in
its discretion, any other transaction with respect to Common Stock including a corporate merger, consolidation, acquisition of property or stock, separation (including a spin-off or other distribution of stock or property), reorganization,
liquidation (whether partial or complete) or any similar transaction; provided, however that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” Such
adjustment shall be made by the Administrator and its determination shall be final, binding and 

  

 14 

 
conclusive. Except as the Administrator determines, no issuance by the Company of shares of stock of any class, or securities convertible into shares of
stock of any class, shall affect, and no adjustment by reason hereof shall be made with respect to, the number or price of Shares subject to an Award. 
  
 11. Corporate Transactions and Changes in Control. 
  

(a) Termination of Award to Extent Not Assumed in Corporate Transaction. Effective upon the consummation of a Corporate Transaction, all
outstanding Awards under the Plan shall terminate. However, all such Awards shall not terminate to the extent they are Assumed in connection with the Corporate Transaction. 
  
 (b) Acceleration of Award Upon Corporate Transaction or Change in Control. 
  
 (i) Corporate Transaction. Except as provided otherwise in an
individual Award Agreement, in the event of a Corporate Transaction and: 
  
 (A) for the portion of each Award that is Assumed or Replaced, then such Award (if Assumed), the replacement Award (if Replaced), or the cash incentive program (if Replaced) automatically shall become fully vested,
exercisable and payable and be released from any repurchase or forfeiture rights (other than repurchase rights exercisable at Fair Market Value) for all of the Shares at the time represented by such Assumed or Replaced portion of the Award,
immediately upon termination of the Grantee’s Continuous Service if such Continuous Service is terminated by the successor company or the Company without Cause within twelve (12) months after the Corporate Transaction; and 
  
 (B) for the portion of each Award that is neither Assumed nor Replaced, such
portion of the Award shall automatically become fully vested and exercisable and be released from any repurchase or forfeiture rights (other than repurchase rights exercisable at Fair Market Value) for all of the Shares at the time represented by
such portion of the Award, immediately prior to the specified effective date of such Corporate Transaction, provided that the Grantee’s Continuous Service has not terminated prior to such date. 
  
 (ii) Change in Control. Except as provided otherwise in an individual
Award Agreement, following a Change in Control (other than a Change in Control which also is a Corporate Transaction) and upon the termination of the Continuous Service of a Grantee if such Continuous Service is terminated by the Company or Related
Entity without Cause within twelve (12) months after a Change in Control, each Award of such Grantee which is at the time outstanding under the Plan automatically shall become fully vested and exercisable and be released from any repurchase or
forfeiture rights (other than repurchase rights exercisable at Fair Market Value), immediately upon the termination of such Continuous Service. 
  
 (c) Effect of Acceleration on Incentive Stock Options. Any Incentive Stock Option accelerated under this Section 11 in connection with a Corporate
Transaction or Change in Control shall remain exercisable as an Incentive Stock Option under the Code only to the extent the $100,000 dollar limitation of Section 422(d) of the Code is not exceeded. To the extent such dollar limitation is exceeded,
the excess Options shall be treated as Non-Qualified Stock Options. 
  

 15 

 12. Effective Date and Term of Plan. The Plan shall become effective upon its approval by the
shareholders of the Company. It shall continue in effect for a term of ten (10) years unless sooner terminated. 
  
 13. Amendment, Suspension or Termination of the Plan. 
  
 (a) The Board may at any time amend, suspend or terminate the Plan; provided, however, that no such amendment shall be made without the approval of the
Company’s shareholders to the extent such approval is required by Applicable Laws, or if such amendment would lessen the shareholder approval requirements of Section 4(b)(vi) or this Section 13(a). 
  
 (b) No Award may be granted during any suspension of the Plan or after
termination of the Plan. 
  
 (c) No suspension or termination of
the Plan (including termination of the Plan under Section 11, above) shall adversely affect any rights under Awards already granted to a Grantee. 
  
 14. Reservation of Shares. 
  
 (a) The Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the
requirements of the Plan. 
  
 (b) The inability of the Company to
obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of
the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. 
  
 15. No Effect on Terms of Employment/Consulting Relationship. The Plan shall not confer upon any Grantee any right with respect to the
Grantee’s Continuous Service, nor shall it interfere in any way with his or her right or the right of the Company or any Related Entity to terminate the Grantee’s Continuous Service at any time, with or without Cause, and with or without
notice. The ability of the Company or any Related Entity to terminate the employment of a Grantee who is employed at will is in no way affected by its determination that the Grantee’s Continuous Service has been terminated for Cause for the
purposes of this Plan. 
  
 16. No Effect on Retirement and
Other Benefit Plans. Except as specifically provided in a retirement or other benefit plan of the Company or a Related Entity, Awards shall not be deemed compensation for purposes of computing benefits or contributions under any retirement plan
of the Company or a Related Entity, and shall not affect any benefits under any other benefit plan of any kind or any benefit plan subsequently instituted under which the availability or amount of benefits is related to level of compensation. The
Plan is not a “Retirement Plan” or “Welfare Plan” under the Employee Retirement Income Security Act of 1974, as amended. 
  

 16 

 17. Unfunded Obligation. Grantees shall have the status of general unsecured creditors of the
Company. Any amounts payable to Grantees pursuant to the Plan shall be unfunded and unsecured obligations for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of 1974, as amended. Neither the
Company nor any Related Entity shall be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial ownership
of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Grantee account shall not create or constitute a trust or
fiduciary relationship between the Administrator, the Company or any Related Entity and a Grantee, or otherwise create any vested or beneficial interest in any Grantee or the Grantee’s creditors in any assets of the Company or a Related Entity.
The Grantees shall have no claim against the Company or any Related Entity for any changes in the value of any assets that may be invested or reinvested by the Company with respect to the Plan. 
  
 18. Plan Approval. The Plan was originally adopted by the Board in
October 2004 and approved by the Company’s stockholders on December 15, 2004. On January 24, 2005, the Board adopted and approved an amendment and restatement of the Plan to (a) further limit the number of Shares that may be issued under the
Plan as Restricted Stock and Restricted Stock Units and (b) impose certain restrictions on the vesting schedule and ability of the Administrator to amend the vesting schedule of awards of Restricted Stock and Restricted Stock Units, which amendment
and restatement is not subject to stockholder approval. 
  
 19.
Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the Plan. Except when otherwise indicated by the context, the singular shall include the plural
and the plural shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise. 
  
  

 17 

 PERICOM SEMICONDUCTOR CORPORATION 2004 STOCK INCENTIVE PLAN 
  
 NOTICE OF STOCK OPTION AWARD 
  

			
	Grantee’s Name and Address:	  	______________________________________________
		
	 	  	______________________________________________
		
	 	  	______________________________________________

  
 You (the
“Grantee”) have been granted an option to purchase shares of Common Stock, subject to the terms and conditions of this Notice of Stock Option Award (the “Notice”), the Pericom Semiconductor Corporation 2004 Stock Incentive Plan,
as amended from time to time (the “Plan”) and the Stock Option Award Agreement (the “Option Agreement”) attached hereto, as follows. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined
meanings in this Notice. 
  

			
		
	Award Number	  	______________________________________________
		
	Date of Award	  	______________________________________________
		
	Vesting Commencement Date	  	______________________________________________
		
	Exercise Price per Share	  	$______________________________________________
		
	Total Number of Shares Subject to the Option (the “Shares”)	  	______________________________________________
		
	Total Exercise Price	  	$______________________________________________
		
	Type of Option:	  	___________    Incentive Stock Option
		
	 	  	___________    Non-Qualified Stock Option
		
	Expiration Date:	  	______________________________________________
		
	Post-Termination Exercise Period:	  	Three (3) Months

  
 Vesting Schedule: 

 
 Subject to the Grantee’s Continuous Service and other limitations
set forth in this Notice, the Plan and the Option Agreement, the Option may be exercised, in whole or in part, in accordance with the following schedule: 
  
 [25% of the Shares subject to the Option shall vest twelve months after the Vesting Commencement Date, and 1/48 of the Shares subject to the Option
shall vest on each monthly anniversary of the Vesting Commencement Date thereafter.] 
  
 During any authorized leave of absence, the vesting of the Option as provided in this schedule shall be suspended after the leave of absence exceeds a period of ninety (90) days. Vesting of the Option shall resume
upon the Grantee’s termination of the leave of absence and return to service to the Company or a Related Entity. The Vesting Schedule of the Option shall be extended by the length of the suspension. 
  
  

 18 

 In the event of termination of the Grantee’s Continuous Service for Cause, the Grantee’s right
to exercise the Option shall terminate concurrently with the termination of the Grantee’s Continuous Service, except as otherwise determined by the Administrator. 
  
 IN WITNESS WHEREOF, the Company and the Grantee have executed this Notice and agree that the Option is to be governed by the
terms and conditions of this Notice, the Plan, and the Option Agreement. 
  

			
	 Pericom Semiconductor Corporation,
 a
California corporation

		
	By:	 	  

		
	Title:	 	  

  
 THE GRANTEE ACKNOWLEDGES AND
AGREES THAT THE SHARES SUBJECT TO THE OPTION SHALL VEST, IF AT ALL, ONLY DURING THE PERIOD OF THE GRANTEE’S CONTINUOUS SERVICE (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER). THE GRANTEE FURTHER
ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS NOTICE, THE OPTION AGREEMENT, OR THE PLAN SHALL CONFER UPON THE GRANTEE ANY RIGHT WITH RESPECT TO FUTURE AWARDS OR CONTINUATION OF THE GRANTEE’S CONTINUOUS SERVICE, NOR SHALL IT INTERFERE IN ANY WAY
WITH THE GRANTEE’S RIGHT OR THE RIGHT OF THE COMPANY OR RELATED ENTITY TO WHICH THE GRANTEE PROVIDES SERVICES TO TERMINATE THE GRANTEE’S CONTINUOUS SERVICE, WITH OR WITHOUT CAUSE, AND WITH OR WITHOUT NOTICE. THE GRANTEE ACKNOWLEDGES THAT
UNLESS THE GRANTEE HAS A WRITTEN EMPLOYMENT AGREEMENT WITH THE COMPANY TO THE CONTRARY, THE GRANTEE’S STATUS IS AT WILL. 
  
 The Grantee acknowledges receipt of a copy of the Plan and the Option Agreement, and represents that he or she is familiar with the terms and provisions
thereof, and hereby accepts the Option subject to all of the terms and provisions hereof and thereof. The Grantee has reviewed this Notice, the Plan, and the Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel
prior to executing this Notice, and fully understands all provisions of this Notice, the Plan and the Option Agreement. The Grantee hereby agrees that all questions of interpretation and administration relating to this Notice, the Plan and the
Option Agreement shall be resolved by the Administrator in accordance with Section 13 of the Option Agreement. The Grantee further agrees to the venue selection and waiver of a jury trial in accordance with Section 14 of the Option Agreement. The
Grantee further agrees to notify the Company upon any change in the residence address indicated in this Notice. 
  

							
	 Dated:
                    
	 	Signed:	 	  

	 	 	 	 	 	 	Grantee

  

 19 

 Award Number:
                     
  
 PERICOM SEMICONDUCTOR CORPORATION 2004 STOCK INCENTIVE PLAN 
  
 STOCK OPTION AWARD AGREEMENT 
  
 Grant of Option. Pericom Semiconductor Corporation, a California corporation (the “Company”), hereby grants
to the Grantee (the “Grantee”) named in the Notice of Stock Option Award (the “Notice”), an option (the “Option”) to purchase the Total Number of Shares of Common Stock subject to the Option (the “Shares”) set
forth in the Notice, at the Exercise Price per Share set forth in the Notice (the “Exercise Price”) subject to the terms and provisions of the Notice, this Stock Option Award Agreement (the “Option Agreement”) and the
Company’s 2004 Stock Incentive Plan, as amended from time to time (the “Plan”), which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this
Option Agreement. 
  
 If designated in the Notice as an Incentive
Stock Option, the Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code. However, notwithstanding such designation, the Option will qualify as an Incentive Stock Option under the Code only to the extent the
$100,000 dollar limitation of Section 422(d) of the Code is not exceeded. The $100,000 limitation of Section 422(d) of the Code is calculated based on the aggregate Fair Market Value of the Shares subject to options designated as Incentive Stock
Options which become exercisable for the first time by the Grantee during any calendar year (under all plans of the Company or any Parent or Subsidiary of the Company). For purposes of this calculation, Incentive Stock Options shall be taken into
account in the order in which they were granted, and the Fair Market Value of the shares subject to such options shall be determined as of the grant date of the relevant option. 
  
 Exercise of Option. 
  
 Right to Exercise. The Option shall be exercisable during its term in accordance with the Vesting Schedule set out in the Notice and with the
applicable provisions of the Plan and this Option Agreement. The Option shall be subject to the provisions of Section 11 of the Plan relating to the exercisability or termination of the Option in the event of a Corporate Transaction or Change
in Control. The Grantee shall be subject to reasonable limitations on the number of requested exercises during any monthly or weekly period as determined by the Administrator. In no event shall the Company issue fractional Shares. 
  
 Method of Exercise. The Option shall be exercisable by delivery of an
exercise notice (a form of which is attached as Exhibit A) or by such other procedure as specified from time to time by the Administrator which shall state the election to exercise the Option, the whole number of Shares in respect of which the
Option is being exercised, and such other provisions as may be required by the Administrator. The exercise notice shall be delivered in person, by certified mail, or by such other method (including electronic transmission) as determined from time to
time by the Administrator to the Company accompanied by payment of the Exercise Price. The Option shall be deemed to be exercised upon receipt by the Company of such notice 

  

 1 

 
accompanied by the Exercise Price, which, to the extent selected, shall be deemed to be satisfied by use of the broker-dealer sale and remittance procedure
to pay the Exercise Price provided in Section 3(d), below. 
  
 Taxes. No Shares will be delivered to the Grantee or other person pursuant to the exercise of the Option until the Grantee or other person has made arrangements acceptable to the Administrator for the satisfaction of applicable
income tax and employment tax withholding obligations, including, without limitation, such other tax obligations of the Grantee incident to the receipt of Shares or the disqualifying disposition of Shares received on exercise of an Incentive Stock
Option. Upon exercise of the Option, the Company or the Grantee’s employer may offset or withhold (from any amount owed by the Company or the Grantee’s employer to the Grantee) or collect from the Grantee or other person an amount
sufficient to satisfy such tax withholding obligations. 
  
 Method of Payment. Payment of the Exercise Price shall be made by any of the following, or a combination thereof, at the election of the Grantee; provided, however, that such exercise method does not then violate any Applicable Law:

  
 cash; 
  
 check; 
  
 surrender of Shares or delivery of a properly executed form of attestation of ownership of Shares as the Administrator may
require which have a Fair Market Value on the date of surrender or attestation equal to the aggregate Exercise Price of the Shares as to which the Option is being exercised, provided, however, that Shares acquired under the Plan or any other equity
compensation plan or agreement of the Company must have been held by the Grantee for a period of more than six (6) months (and not used for another Award exercise by attestation during such period); or 
  
 payment through a broker-dealer sale and remittance procedure pursuant to
which the Grantee (i) shall provide written instructions to a Company-designated brokerage firm to effect the immediate sale of some or all of the purchased Shares and remit to the Company sufficient funds to cover the aggregate exercise price
payable for the purchased Shares and (ii) shall provide written directives to the Company to deliver the certificates for the purchased Shares directly to such brokerage firm in order to complete the sale transaction. 
  
 Restrictions on Exercise. The Option may not be exercised if the
issuance of the Shares subject to the Option upon such exercise would constitute a violation of any Applicable Laws. If the exercise of the Option within the applicable time periods set forth in Section 5, 6 and 7 of this Option Agreement is
prevented by the provisions of this Section 4, the Option shall remain exercisable until one (1) month after the date the Grantee is notified by the Company that the Option is exercisable, but in any event no later than the Expiration Date set forth
in the Notice. 
  
 Termination or Change of Continuous
Service. In the event the Grantee’s Continuous Service terminates, other than for Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such
termination (the “Termination Date”). The Post-Termination Exercise Period shall commence 

  

 2 

 
on the Termination Date. In the event of termination of the Grantee’s Continuous Service for Cause, the Grantee’s right to exercise the Option
shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, shall the Option be exercised later than
the Expiration Date set forth in the Notice. In the event of the Grantee’s change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and the Option shall
continue to vest in accordance with the Vesting Schedule set forth in the Notice; provided, however, that with respect to any Incentive Stock Option that shall remain in effect after a change in status from Employee to Director or Consultant, such
Incentive Stock Option shall cease to be treated as an Incentive Stock Option and shall be treated as a Non-Qualified Stock Option on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 6 and 7
below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate. 
  
 Disability of Grantee. In the event the Grantee’s Continuous
Service terminates as a result of his or her Disability, the Grantee may, but only within twelve (12) months commencing on the Termination Date (but in no event later than the Expiration Date), exercise the portion of the Option that was vested on
the Termination Date; provided, however, that if such Disability is not a “disability” as such term is defined in Section 22(e)(3) of the Code and the Option is an Incentive Stock Option, such Incentive Stock Option shall cease to be
treated as an Incentive Stock Option and shall be treated as a Non-Qualified Stock Option on the day three (3) months and one (1) day following the Termination Date. To the extent that the Option was unvested on the Termination Date, or if the
Grantee does not exercise the vested portion of the Option within the time specified herein, the Option shall terminate. Section 22(e)(3) of the Code provides that an individual is permanently and totally disabled if he or she is unable to engage in
any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12)
months. 
  
 Death of Grantee. In the event of the
termination of the Grantee’s Continuous Service as a result of his or her death, or in the event of the Grantee’s death during the Post-Termination Exercise Period or during the twelve (12) month period following the Grantee’s
termination of Continuous Service as a result of his or her Disability, the person who acquired the right to exercise the Option pursuant to Section 8 may exercise the portion of the Option that was vested at the date of termination within twelve
(12) months commencing on the date of death (but in no event later than the Expiration Date). To the extent that the Option was unvested on the date of death, or if the vested portion of the Option is not exercised within the time specified herein,
the Option shall terminate. 
  
 Transferability of Option.
The Option, if an Incentive Stock Option, may not be transferred in any manner other than by will or by the laws of descent and distribution and may be exercised during the lifetime of the Grantee only by the Grantee. The Option, if a Non-Qualified
Stock Option, may not be transferred in any manner other than by will or by the laws of descent and distribution, provided, however, that a Non-Qualified Stock Option may be transferred during the lifetime of the Grantee to the extent and in the
manner authorized by the Administrator. Notwithstanding the foregoing, the Grantee may designate one or more 

  

 3 

 
beneficiaries of the Grantee’s Incentive Stock Option or Non-Qualified Stock Option in the event of the Grantee’s death on a beneficiary
designation form provided by the Administrator. Following the death of the Grantee, the Option, to the extent provided in Section 7, may be exercised (a) by the person or persons designated under the deceased Grantee’s beneficiary designation
or (b) in the absence of an effectively designated beneficiary, by the Grantee’s legal representative or by any person empowered to do so under the deceased Grantee’s will or under the then applicable laws of descent and distribution. The
terms of the Option shall be binding upon the executors, administrators, heirs, successors and transferees of the Grantee. 
  
 Term of Option. The Option must be exercised no later than the Expiration Date set forth in the Notice or such earlier date as otherwise provided
herein. After the Expiration Date or such earlier date, the Option shall be of no further force or effect and may not be exercised. 
  
 Tax Consequences. Set forth below is a brief summary as of the date of this Option Agreement of some of the federal tax consequences of exercise of
the Option and disposition of the Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE GRANTEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THE OPTION OR DISPOSING OF THE SHARES. 

 
 Exercise of Incentive Stock Option. If the Option qualifies as an
Incentive Stock Option, there will be no regular federal income tax liability upon the exercise of the Option, although the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price will be treated as
income for purposes of the alternative minimum tax for federal tax purposes and may subject the Grantee to the alternative minimum tax in the year of exercise. However, the Internal Revenue Service issued proposed regulations which would subject the
Grantee to withholding at the time the Grantee exercises an Incentive Stock Option for Social Security and Medicare based upon the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price. These proposed
regulations are subject to further modification by the Internal Revenue Service and, if adopted, would be effective only for the exercise of an Incentive Stock Option that occurs two years after the regulations are issued in final form. 

 
 Exercise of Incentive Stock Option Following Disability. If the
Grantee’s Continuous Service terminates as a result of Disability that is not permanent and total disability as such term is defined in Section 22(e)(3) of the Code, to the extent permitted on the date of termination, the Grantee must exercise
an Incentive Stock Option within three (3) months of such termination for the Incentive Stock Option to be qualified as an Incentive Stock Option. Section 22(e)(3) of the Code provides that an individual is permanently and totally disabled if he or
she is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not
less than twelve (12) months. 
  
 Exercise of Non-Qualified
Stock Option. On exercise of a Non-Qualified Stock Option, the Grantee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Shares on the date
of exercise over the Exercise Price. If the Grantee is an Employee or a former Employee, the 

  

 4 

 
Company will be required to withhold from the Grantee’s compensation or collect from the Grantee and pay to the applicable taxing authorities an amount
in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise. 
  
 Disposition of Shares. In the case of a Non-Qualified Stock Option, if
Shares are held for more than one year, any gain realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes. In the case of an Incentive Stock Option, if Shares transferred pursuant to the Option
are held for more than one year after receipt of the Shares and are disposed more than two years after the Date of Award, any gain realized on disposition of the Shares also will be treated as capital gain for federal income tax purposes and subject
to the same tax rates and holding periods that apply to Shares acquired upon exercise of a Non-Qualified Stock Option. If Shares purchased under an Incentive Stock Option are disposed of prior to the expiration of such one-year or two-year periods,
any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the difference between the Exercise Price and the lesser of (i) the Fair Market Value of the Shares on the date of
exercise, or (ii) the sale price of the Shares. 
  
 Entire
Agreement: Governing Law. The Notice, the Plan and this Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the
Company and the Grantee with respect to the subject matter hereof, and may not be modified adversely to the Grantee’s interest except by means of a writing signed by the Company and the Grantee. Nothing in the Notice, the Plan and this Option
Agreement (except as expressly provided therein) is intended to confer any rights or remedies on any persons other than the parties. The Notice, the Plan and this Option Agreement are to be construed in accordance with and governed by the internal
laws of the State of California without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of California to the rights and duties of the parties. Should
any provision of the Notice, the Plan or this Option Agreement be determined to be illegal or unenforceable, such provision shall be enforced to the fullest extent allowed by law and the other provisions shall nevertheless remain effective and shall
remain enforceable. 
  
 Construction. The captions used in
the Notice and this Option Agreement are inserted for convenience and shall not be deemed a part of the Option for construction or interpretation. Except when otherwise indicated by the context, the singular shall include the plural and the plural
shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise. 
  
 Administration and Interpretation. Any question or dispute regarding the administration or interpretation of the Notice, the Plan or this Option
Agreement shall be submitted by the Grantee or by the Company to the Administrator. The resolution of such question or dispute by the Administrator shall be final and binding on all persons. 
  
 Venue and Waiver of Jury Trial. The Company, the Grantee, and the
Grantee’s assignees pursuant to Section 8 (the “parties”) agree that any suit, action, or proceeding arising out of or relating to the Notice, the Plan or this Option Agreement shall be brought in the United States 

  

 5 

 
District Court for the Northern District of California (or should such court lack jurisdiction to hear such action, suit or proceeding, in a California state
court in the County of Santa Clara) and that the parties shall submit to the jurisdiction of such court. The parties irrevocably waive, to the fullest extent permitted by law, any objection the party may have to the laying of venue for any such
suit, action or proceeding brought in such court. THE PARTIES ALSO EXPRESSLY WAIVE ANY RIGHT THEY HAVE OR MAY HAVE TO A JURY TRIAL OF ANY SUCH SUIT, ACTION OR PROCEEDING. If any one or more provisions of this Section 14 shall for any reason be held
invalid or unenforceable, it is the specific intent of the parties that such provisions shall be modified to the minimum extent necessary to make it or its application valid and enforceable. 
  
 Notices. Any notice required or permitted hereunder shall be given in
writing and shall be deemed effectively given upon personal delivery, upon deposit for delivery by an internationally recognized express mail courier service or upon deposit in the United States mail by certified mail (if the parties are within the
United States), with postage and fees prepaid, addressed to the other party at its address as shown in these instruments, or to such other address as such party may designate in writing from time to time to the other party. 
  
 END OF AGREEMENT 
  

 6 

 EXHIBIT A 
  
 PERICOM SEMICONDUCTOR CORPORATION 2004 STOCK INCENTIVE PLAN 
  
 EXERCISE NOTICE 
  
 Pericom Semiconductor Corporation 
 3545 North First Street 
 San Jose, California 95134 
 Attention: Secretary 
  
 1. Exercise of Option. Effective as of today,
                    ,          the undersigned (the “Grantee”) hereby elects to
exercise the Grantee’s option to purchase                      shares of the Common Stock (the “Shares”) of Pericom
Semiconductor Corporation (the “Company”) under and pursuant to the Company’s 2004 Stock Incentive Plan, as amended from time to time (the “Plan”) and the [    ] Incentive [    ]
Non-Qualified Stock Option Award Agreement (the “Option Agreement”) and Notice of Stock Option Award (the “Notice”) dated
                    ,         . Unless otherwise defined herein, the terms defined in the Plan
shall have the same defined meanings in this Exercise Notice. 
  
 2. Representations of the Grantee. The Grantee acknowledges that the Grantee has received, read and understood the Notice, the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions.

  
 3. Rights as Shareholder. Until the stock certificate
evidencing such Shares is issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a shareholder shall exist with
respect to the Shares, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the
record date is prior to the date the stock certificate is issued, except as provided in Section 10 of the Plan. 
  
 4. Delivery of Payment. The Grantee herewith delivers to the Company the full Exercise Price for the Shares, which, to the extent selected, shall
be deemed to be satisfied by use of the broker-dealer sale and remittance procedure to pay the Exercise Price provided in Section 3(d) of the Option Agreement. 
  

5. Tax Consultation. The Grantee understands that the Grantee may suffer adverse tax consequences as a result of the Grantee’s purchase or
disposition of the Shares. The Grantee represents that the Grantee has consulted with any tax consultants the Grantee deems advisable in connection with the purchase or disposition of the Shares and that the Grantee is not relying on the Company for
any tax advice. 
  
 6. Taxes. The Grantee agrees to satisfy
all applicable foreign, federal, state and local income and employment tax withholding obligations and herewith delivers to the Company the full amount of such obligations or has made arrangements acceptable to the Company to satisfy such
obligations. In the case of an Incentive Stock Option, the Grantee also agrees, as partial consideration for the designation of the Option as an Incentive Stock Option, to notify the 

  

 7 

 
Company in writing within thirty (30) days of any disposition of any shares acquired by exercise of the Option if such disposition occurs within two (2)
years from the Date of Award or within one (1) year from the date the Shares were transferred to the Grantee. If the Company is required to satisfy any foreign, federal, state or local income or employment tax withholding obligations as a result of
such an early disposition, the Grantee agrees to satisfy the amount of such withholding in a manner that the Administrator prescribes. 
  
 7. Successors and Assigns. The Company may assign any of its rights under this Exercise Notice to single or multiple assignees, and this agreement
shall inure to the benefit of the successors and assigns of the Company. This Exercise Notice shall be binding upon the Grantee and his or her heirs, executors, administrators, successors and assigns. 
  
 8. Construction. The captions used in this Exercise Notice are
inserted for convenience and shall not be deemed a part of this agreement for construction or interpretation. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular. Use of the
term “or” is not intended to be exclusive, unless the context clearly requires otherwise. 
  
 9. Administration and Interpretation. The Grantee hereby agrees that any question or dispute regarding the administration or interpretation of this
Exercise Notice shall be submitted by the Grantee or by the Company to the Administrator. The resolution of such question or dispute by the Administrator shall be final and binding on all persons. 
  
 10. Governing Law; Severability. This Exercise Notice is to be
construed in accordance with and governed by the internal laws of the State of California without giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of
California to the rights and duties of the parties. Should any provision of this Exercise Notice be determined by a court of law to be illegal or unenforceable, such provision shall be enforced to the fullest extent allowed by law and the other
provisions shall nevertheless remain effective and shall remain enforceable. 
  
 11. Notices. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery, upon deposit for delivery by an internationally recognized express
mail courier service or upon deposit in the United States mail by certified mail (if the parties are within the United States), with postage and fees prepaid, addressed to the other party at its address as shown below beneath its signature, or to
such other address as such party may designate in writing from time to time to the other party. 
  
 12. Further Instruments. The parties agree to execute such further instruments and to take such further action as may be reasonably necessary to
carry out the purposes and intent of this agreement. 
  
 13.
Entire Agreement. The Notice, the Plan and the Option Agreement are incorporated herein by reference and together with this Exercise Notice constitute the entire agreement of the parties with respect to the subject matter hereof and supersede
in their entirety all prior undertakings and agreements of the Company and the Grantee with respect to the subject matter hereof, and may not be modified adversely to the Grantee’s interest except by 

  

 8 

 
means of a writing signed by the Company and the Grantee. Nothing in the Notice, the Plan, the Option Agreement and this Exercise Notice (except as expressly
provided therein) is intended to confer any rights or remedies on any persons other than the parties. 
  

					
	Submitted by:	 	Accepted by:
		
	GRANTEE:	 	PERICOM SEMICONDUCTOR CORPORATION
			
	  

	 	By:	 	  

	(Signature)                                     
         	 	Title:	 	  

		
	Address:	 	Address:
		
	__________________________________________________	 	3545 North First Street
	  
 __________________________________________________
	 	San Jose, California 95134

  

 9First Amendment to Credit Agreement

 Exhibit 4.12 
  
 FIRST AMENDMENT TO CREDIT AGREEMENT 
  
 THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of January 21, 2005, among
PETRO STOPPING CENTERS, L.P., a Delaware limited partnership (the “Borrower”), PETRO STOPPING CENTERS HOLDINGS, L.P., a Delaware limited partnership and a limited partner of the Borrower (“Holdings”), PETRO HOLDINGS
FINANCIAL CORPORATION, a Delaware corporation (“Petro Holdings”), PETRO DISTRIBUTING, INC., a Delaware corporation and a Subsidiary of the Borrower (“Petro Distributing”), and PETRO FINANCIAL CORPORATION, a Delaware
corporation and a Subsidiary of the Borrower (“Petro Financial”), the Lenders (as defined in the Credit Agreement referred to below), and WELLS FARGO BANK, N. A., as Administrative Agent, Collateral Agent and L/C Issuer.

  
 RECITALS: 
  
 A. The Borrower, Holdings, Petro Holdings, Petro Distributing, Petro
Financial, the Lenders party thereto and the Administrative Agent have entered into that certain Credit Agreement dated as of February 9, 2004 (as amended, modified, supplemented and extended from time to time, including, without limitation, as
amended by this Amendment, the “Credit Agreement”). 
  
 B. As permitted by the Credit Agreement, certain Lenders originally party to the Credit Agreement have assigned certain rights and obligations under the Credit Agreement to certain Eligible Assignees which thereupon also became Lenders and
parties to the Credit Agreement. 
  
 C. The Borrower and the other
Loan Parties have requested that the Agents and the Lenders amend the Credit Agreement to, among other things, increase the amount of the Aggregate Revolving Commitments from $25,000,000 to $40,000,000 and extend the Revolving Loans Maturity Date
from February 9, 2007 to February 9, 2008, and, accordingly, the Agents and each of the Lenders have agreed to amend the Credit Agreement upon and subject to the terms and conditions set forth in this Amendment. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants
herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  
 ARTICLE 1 
  
 DEFINITIONS 
  
 Section 1.01 Definitions. Capitalized terms used in this Amendment, to the extent not otherwise defined herein, shall have the same meanings
herein as in the Credit Agreement as amended hereby. 
  
 ARTICLE
2 
  
 AMENDMENTS TO THE CREDIT AGREEMENT 
  
 Section 2.01 Amendments to Section 1.01. 
  
 (a) The definitions of the following terms, or, if so specified, the
applicable portions of such definitions as described below, set forth in Section 1.01 of the Credit Agreement are hereby amended and restated to read in their entirety as follows: 
  
 (i) “Aggregate Revolving Commitments” means the Revolving Commitments of all the Lenders.
The amount of the Aggregate Revolving Commitments in effect on the First Amendment Date is $40,000,000. 
  

 Page 1 

 (ii) “Applicable Rate” means the following percentages per annum, based
upon the Consolidated Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 7.02(b): 
  

												
	 Pricing Level

	  	 Consolidated
 Leverage Ratio

	  	Commitment
Fee

	 	 	Letter of Credit Fee
and Eurodollar Rate
Loans

	 	 	Base Rate Loans

	 
	             1
	  	<5.00:1	  	0.50	%	 	2.25	%	 	1.50	%
	             2
	  	35.00:1 but
<5.50:1	  	0.50	%	 	2.50	%	 	1.50	%
	             3
	  	35.50:1
but
<6.00:1	  	0.50	%	 	2.75	%	 	1.50	%
	             4
	  	36.00:1	  	0.50	%	 	3.00	%	 	1.50	%

  
 Any increase or
decrease in the Applicable Rate resulting from a change in the Consolidated Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 7.02(b);
provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then Pricing Level 4 shall apply as of the first Business Day after the date on which such Compliance Certificate was
required to have been delivered through and including the date upon which such Compliance Certificate is delivered, after which date the Applicable Rate shall be based upon the table above (unless and until subsequently adjusted). 
  
 (iii) Clause (e) of the definition of the term
“Excluded Property” (which clause ends with the semicolon immediately preceding the words “provided, however”, which proviso is not hereby amended) is hereby amended and restated to read in its entirety as follows:

  
 (e) the Borrower’s joint venture interest in (i) Petro
Travel Plaza, LLC, (ii) any joint venture in which the Borrower and its Subsidiaries (collectively) do not own a majority interest, and (iii) any other joint venture in which the Borrower makes an Investment permitted by this Agreement and as to
which the Administrative Agent and the Required Lenders have agreed not to require a Lien as security for the Obligations; 
  
 (iv) Clause (c) of the definition of the term “Funded Indebtedness” is hereby amended and restated to read in its
entirety as follows: 
  
 (c) the maximum amount
available to be drawn under bankers’ acceptances, repurchase agreements and similar instruments; 
  
 (v) “Letter of Credit Sublimit” means an amount equal to the lesser of the Aggregate Revolving Commitments and
$40,000,000.00. The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Revolving Commitments. 
  

 Page 2 

 (vi) The initial portion of the definition of the term “Permitted
Acquisition” which precedes clause (a) of such definition is amended and restated to read in its entirety as follows: 
  
 “Permitted Acquisition” means Investments consisting of an Acquisition by the Borrower or any Subsidiary of the Borrower
if (but only if), both immediately prior to and immediately after giving effect to the consummation of such Acquisition and on a Pro Forma Basis, no Default exists or would exist, the Borrower is and would be in compliance with Section 8.11
and each of the additional requirements is satisfied: 
  
 (vii) Clause (g) of the definition of the term “Permitted Acquisition” is hereby amended and restated to read in its entirety as follows: 
  
 (g) the aggregate consideration (including cash and non-cash consideration, any assumption of Indebtedness
and any earn-out payments, but excluding consideration consisting of any Capital Stock of the Borrower issued to the seller of the Capital Stock or Property acquired in such Acquisition) paid by the Borrower or any Subsidiary for any such
Acquisition occurring after the Closing Date shall not exceed $8,000,000, provided, however, that, for purposes of such amount, the aggregate consideration in the amount of $3,100,000, $11,000,000 and $4,500,000 paid or to be paid by
the Borrower for the newly acquired or to be acquired Real Property located at 1105 E. King Avenue, Kingsland, Georgia, 7400 S. Lincoln, York, Nebraska and 9787 US Route 40 West, Preble County, Ohio, respectively, shall be excluded; and 

 
 (viii) Clause (h) of the definition of the term
“Permitted Acquisition” is hereby amended and restated to read in its entirety as follows, and the proviso set forth below is hereby added to end of the definition of such term: 
  
 (h) the aggregate consideration (including cash and non-cash
consideration, any assumption of Indebtedness and any earn-out payments, but excluding consideration consisting of any Capital Stock of the Borrower issued to the seller of the Capital Stock or Property acquired in such Acquisition) paid by the
Borrower or any Subsidiary for all such Acquisitions occurring after the Closing Date shall not exceed $24,000,000, provided, however, that, for purposes of such amount, the aggregate consideration in the amount of $3,100,000,
$11,000,000 and $4,500,000 paid or to be paid by the Borrower for the newly acquired or to be acquired Real Property located at 1105 E. King Avenue, Kingsland, Georgia, 7400 S. Lincoln, York, Nebraska and 9787 US Route 40 West, Preble County, Ohio,
respectively, shall be excluded; 
  
 provided,
however, that the additional requirements referred to in clauses (g) and (h) of this definition above shall not apply if, both immediately prior to and immediately after giving effect to the consummation of such Acquisition and
on a Pro Forma Basis, the Consolidated Leverage Ratio as of the last day of the fiscal quarter of the Borrower then most recently ended, for which the Borrower has delivered financial statements pursuant to Sections 7.01(a) or 7.01(b),
is less than 4.50:1. 
  
 (ix)
“Revolving Loans Maturity Date” means February 9, 2008. 
  
 (x) “Wells Fargo Fee Letter” means (a) the letter agreement, dated January 13, 2004, between the Borrower and Wells Fargo and (b) the letter agreement, dated January 21, 2005, between the Borrower and
Wells Fargo. 
  
 (b) The term “Excess Cash Flow” and the
definition thereof set forth in Section 1.01 of the Credit Agreement are hereby deleted. 
  

 Page 3 

 (c) The following new terms and their definitions are hereby added to Section 1.01 of the Credit
Agreement, which terms shall appear in alphabetical order in such Section 1.01: 
  
 “Designated Excess Land” means the Borrower’s existing fee owned Real Property identified as follows: 
  

					
	 Location

	  	City

	  	Acreage

	      #1
	  	El Paso, TX	  	3.919
	      #3
	  	Laramie, WY	  	5.000
	      #8
	  	Shreveport, LA	  	1.620
	     #20
	  	Girard, OH	  	1.759
	     #23
	  	Ocala, FL	  	18.000

  
 “First Amendment Date” means January 21, 2005. 
  
 “Ratification of Collateral Documents and Guaranties” means an agreement, in form and substance satisfactory to the
Agents, pursuant to which each of the Loan Parties ratifies and confirms the Collateral Documents and Guaranty executed by it and agrees that the Liens granted by it secure, and that the Guaranty executed by it guarantees payment of, all
Obligations, including, without limitation, the increased amount of the Revolving Loans and Letter of Credit reimbursement obligations that may be made or issued, respectively, under the Credit Agreement as amended by this Amendment. 
  
 Section 2.02 Amendment to Section 2.01(a). The proviso
contained in Section 2.01(a) of the Credit Agreement (which appears at the end of the first sentence of such Section 2.01(a) commencing with the words “provided, however” and continues to the end of such
sentence) is hereby amended and restated to read in its entirety as follows: 
  
 provided, however, that after giving effect to any Borrowing of Revolving Loans, (i) the aggregate Outstanding Amount of all Revolving Loans made by the Lenders pursuant to this Section 2.01(a),
exclusive of Revolving Loans made by the Lenders pursuant to Section 2.03(c) as a result of the failure of the Borrower to timely reimburse the L/C Issuer for any drawing under a Letter of Credit, shall not exceed $35,000,000, (ii) the Total
Revolving Outstandings shall not exceed the Aggregate Revolving Commitments, and (iii) the aggregate Outstanding Amount of the Revolving Loans of any Lender plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C
Obligations shall not exceed such Lender’s Revolving Commitment. 
  
 Section 2.03 Amendment to Section 2.02(a). The first sentence of Section 2.02(a) of the Credit Agreement is hereby amended to change the words “11:00 a.m.” contained therein to mean and refer to “12:00
noon”. 
  
 Section 2.04 Amendment to Section
2.05(a). 
  
 (a) The first sentence of Section
2.05(a) of the Credit Agreement is hereby amended to change the words “11:00 a.m.” contained therein to mean and refer to “12:00 noon”. 
  

(b) The phrase “three Business Days” contained in clause (A) of Section 2.05(a) of the Credit Agreement is hereby amended to
mean and refer to “one Business Day”. 
  

 Page 4 

 Section 2.05 Amendment to Clause (ii) of Section 2.05(b). Clause (ii) of Section
2.05(b) of the Credit Agreement is hereby amended and restated to (a) change the words “180 days” and “180 day” contained therein to mean and refer to “12 months” and “12 month”, respectively, and (b)
change the amounts “$4,000,000” contained therein to mean and refer to “$15,000,000”. 
  
 Section 2.06 Amendment to Clause (iv) of Section 2.05(b). Clause (iv) of Section 2.05(b) of the Credit Agreement is hereby
amended and restated to read in its entirety as follows: 
  
 (iv) Equity Issuances. Immediately upon the receipt by any Loan Party of the Net Cash Proceeds of any Equity Issuance, the Borrower shall prepay the Loans and, if and to the extent required by clause (B)
of Section 2.05(b)(vi), Cash Collateralize the L/C Obligations in an aggregate amount equal to 100% of such Net Cash Proceeds (such prepayment to be applied as set forth in clause (vi) below); provided, however, that (A)
with respect to any Equity Issuance or Equity Issuances by Holdings and/or Petro Holdings, Net Cash Proceeds thereof in an aggregate amount not to exceed $5,000,000 may be received without the necessity of any corresponding prepayment pursuant to
this clause (iv) and (B) the Net Cash Proceeds of any Equity Issuance may be used, substantially concurrently with the receipt of such proceeds, by the Borrower to redeem up to 35% of the aggregate principal amount of the Borrower Senior
Notes in accordance with Section 3.7(b) of the Borrower Senior Notes Indenture without the necessity of any corresponding prepayment pursuant to this clause (iv). 
  
 Section 2.07 Amendment to Clause (v) of Section 2.05(b). Clause (v) of Section 2.05(b) of the
Credit Agreement is hereby amended and restated to read in its entirety as follows: 
  
 (v) [Intentionally omitted.] 
  
 Section 2.08 Amendment to Section 2.07(b). Section 2.07(b) of the Credit Agreement is hereby amended and restated to read in its
entirety as follows: 
  
 (b) Term Loan.
The Borrower shall repay the outstanding principal amount of the Term Loan in full on the Term Loan Maturity Date, unless accelerated sooner pursuant to Section 9.02. 
  
 Section 2.09 Amendment to Introductory Clause of Article VI. The introductory clause of Article VI of
the Credit Agreement (immediately preceding Section 6.01 of the Credit Agreement) is hereby amended and restated to read in its entirety as follows: 
  
 Each of the Loan Parties hereby jointly and severally represents and warrants to the Agents and the Lenders that, as of the Closing Date,
as of the First Amendment Date, as of the date of each Loan Notice given by the Borrower and as of the date of the making of each Loan and the issuance of each Letter of Credit under this Agreement: 
  
 Section 2.10 Amendments to Section 7.01. 
  
 (a) Section 7.01(a) of the Credit Agreement is hereby amended to
delete the phrase “the consolidating balance sheet of the Borrower and its Subsidiaries” and to add the following phrase in lieu thereof: 
  
 the consolidating balance sheet of Holdings and its Subsidiaries (including the Borrower and its Subsidiaries) 
  

 Page 5 

 (b) Section 7.01(b) of the Credit Agreement is hereby amended and restated to read in its entirety
as follows: 
  
 (b) as soon as available, but in
any event within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Borrower, the consolidated balance sheet of each of Holdings and its Subsidiaries and the Borrower and its Subsidiaries, and the related
consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal quarter and for the portion of the Borrower’s fiscal year then ended, setting forth in each case in comparative form the figures for the
corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year and, with respect to the Borrower, the comparison of the Borrower’s performance for such period to its projected budget for such
period, all in reasonable detail, and certified by a Responsible Officer of Holdings or the Borrower (as applicable) as fairly presenting the financial condition, results of operations, shareholders’ equity and cash flows of Holdings and its
Subsidiaries or the Borrower and its Subsidiaries (as applicable) in accordance with GAAP, subject only to normal adjustments and the absence of footnotes; and 
  

(c) Section 7.01(c) of the Credit Agreement is hereby amended to delete the phrase “as soon as available, but in any event within 30 days
after the end of each month” and to add the following phrase in lieu thereof: 
  
 at all times after the occurrence and during the continuance of an Event of Default, and as soon as available but in any event within 30 days after the end of each month during such times 
  
 Section 2.11 Amendment to Section 7.14(a). Section
7.14(a) of the Credit Agreement is hereby amended as follows: 
  
 (a) The phrase “and, in the case of Designated Real Property, title insured Liens” contained in Section 7.14(a) is amended to read “and, in the case of Designated Real Property and if and to the
extent required by the Collateral Agent, title insured Liens”. 
  
 (b) The amounts “$1,000,000” contained in Section 7.14(a) are amended to mean and refer to “$3,000,000”. 
  
 (c) The amount “$5,000,000” contained in Section 7.14(a) is amended to mean and refer to
“$10,000,000”. 
  
 Section 2.12 Amendment to
Section 7.16. Section 7.16 of the Credit Agreement is hereby amended as follows: 
  
 (a) Clause (a) of Section 7.16 is amended and restated to read in its entirety as follows: 
  
 (a) the Borrower may, in the ordinary course of its business
and consistent with past practices, continue to deposit cash receipts, other than the proceeds of accounts receivable, into deposit accounts held with one or more banks if (but only if) such banks agree, upon the occurrence and during the
continuance of an Event of Default unless otherwise agreed by the Administrative Agent, to transfer the entirety of the collected balances in each of such deposit accounts (other than reasonable amounts deemed adequate by the Borrower in good faith
to cover change orders, returned items and bank fees, in each case associated with such account) on each Business Day to one or more deposit accounts referred to in this Section above which are subject to Control Agreements as referred to in this
Section above, 
  

 Page 6 

 (b) The amount “$1,000,000” contained in clause (b)(ii) of Section
7.16 is amended to mean and refer to “$2,000,000”. 
  
 Section 2.13 Amendment to Clause (l) of Section 8.03. Clause (1) of Section 8.03 of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
  
 (l) Indebtedness in respect of performance, surety or appeal
bonds obtained in the ordinary course of the Borrower’s business in an aggregate amount not to exceed $15,000,000 at any time outstanding; 
  
 Section 2.14 Amendment to Clause (n) of Section 8.03. Clause (n) of Section 8.03 of the Credit Agreement is hereby amended and
restated to read in its entirety as follows: 
  
 (n) Guarantees issued in the ordinary course of business guaranteeing Indebtedness in an aggregate amount not to exceed $5,000,000 at anytime outstanding. 
  
 Section 2.15 Amendment to Clause (a) of Section 8.05. Clause (a) of Section 8.05 of the Credit
Agreement is hereby amended and restated to read in its entirety as follows: 
  
 (a) Dispositions of the Excess Land which meet each of the following requirements: (i) such Disposition of Excess Land (other than Designated Excess Land as to which this clause (i) shall not apply) has been
approved by the Required Lenders (which approval will be considered in good faith by the Required Lenders upon the request of the Borrower), (ii) the aggregate fair market value of all Excess Land Disposed of pursuant to this clause (a) shall
not exceed $10,000,000, and (iii) such Disposition of Excess Land shall not have any adverse effect on the operations of the adjacent Real Property which constitutes Collateral (including, without limitation, utility services) or ingress or egress
to or from such adjacent Real Property and shall not otherwise adversely affect the value or usefulness of such adjacent Real Property; 
  
 Section 2.16 Amendment to Clause (f) of Section 8.05. Clause (f) of Section 8.05 of the Credit Agreement is hereby amended and
restated to read in its entirety as follows: 
  
 (f) ground leases of Real Property in the ordinary course of business, which leases are to Persons other than a Subsidiary of the Borrower and are entered into pursuant to arms-length transactions for fair and reasonable value; 

 
 Section 2.17 Amendment to Clause (i) of Section 8.05.
Clause (i) of Section 8.05 of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
  
 (i) Dispositions by the Borrower and its Subsidiaries not otherwise permitted under this Section 8.05; provided that (i) at
the time of such Disposition, no Default shall exist or would result from such Disposition and (ii) the aggregate book value of all property Disposed of in reliance on this clause (i) in any fiscal year shall not exceed $15,000,000;

  

 Page 7 

 Section 2.18 Amendment to Section 8.06(f). Section 8.06(f) of the Credit Agreement
is hereby amended to (a) delete the word “and” at the end of clause (ii) of such Section 8.06(f), (b) delete the period at the end of clause (iii) of such Section 8.06(f) and replace such period with a semicolon
followed by the word “and”, and (c) add the following clause (iv) to the end of such Section 8.06(f), which clause (iv) shall read in its entirety as follows: 
  
 (iv) subject to the following proviso, make distributions to
Holdings for the purpose of permitting Holdings to redeem Holdings Senior Notes in accordance with Section 3.7 of the Holdings Senior Notes Indenture, provided that (A) the sum of the aggregate amount of all such distributions referred to in
this clause (iv) plus the aggregate amount of all principal Indebtedness prepaid by the Borrower as permitted by clause (a) of Section 8.16 shall not exceed $10,000,000 during any calendar year, (B) no such distribution referred
to in this clause (iv) shall be made if (1) the Consolidated Leverage Ratio, as of the last day of the fiscal quarter of the Borrower then most recently ended for which financial statements have been delivered, is greater than or equal to
5.00:1 or (2) any Revolving Loan is outstanding as of the date of the making of such distribution or would be outstanding immediately after the making of such distribution, and (C) all proceeds of such distributions referred to in this clause
(iv) shall be promptly used by Holdings to redeem Holdings Senior Notes in accordance with Section 3.7 of the Holdings Senior Notes Indenture. 
  
 Section 2.19 Amendment to Section 8.11(a). Section 8.11(a) of the Credit Agreement is hereby amended and restated to read as follows:

  
 (a) Consolidated Leverage Ratio.
Permit the Consolidated Leverage Ratio as of the last day of any fiscal quarter of the Borrower to be greater than the ratio applicable to such date set forth in the table below: 
  

			
	 Fiscal Quarter End

	  	 Maximum Consolidated
 Leverage Ratio

	 March 31, 2004
	  	6.25:1
	 June 30, 2004
	  	6.25:1
	 September 30, 2004
	  	6.25:1
	 December 31, 2004
	  	6.25:1
	 March 31, 2005
	  	6.25:1
	 June 30, 2005
	  	6.25:1
	 September 30, 2005
	  	6.25:1
	 December 31, 2005
	  	6.00:1
	 March 31, 2006
	  	5.75:1
	 June 30, 2006
	  	5.50:1
	 September 30, 2006
	  	5.50:1
	 December 31, 2006
	  	5.25:1
	 March 31, 2007
	  	5.25:1
	 June 30, 2007
	  	5.00:1
	 September 30, 2007
	  	5.00:1
	 December 31, 2007
	  	4.75:1

  
 Section 2.20
Amendment to Section 8.12. Section 8.12 of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
  
 8.12 Capital Expenditures. Make or become legally obligated to make any expenditure which constitutes a Consolidated Capital
Expenditure, except for (a) Consolidated Capital Expenditures made in the ordinary course of business and not exceeding in the aggregate for all Loan Parties during each fiscal year the amount set forth opposite such fiscal year below: 

 

				
	 Fiscal Year

	  	Maximum Amount of Capital
Expenditures

	 2004
	  	$	10,000,000.00
	 2005
	  	$	14,000,000.00
	 2006
	  	$	14,000,000.00
	 2007
	  	$	14,000,000.00
	 2008
	  	$	14,000,000.00

  

 Page 8 

 , and (b) additional Consolidated Capital Expenditures (i) for building new Petro Lube stations in an
aggregate amount not to exceed $5,000,000 at any and all times during the term of this Agreement, (ii) for building new stopping center locations in an aggregate amount not to exceed $25,000,000 at any and all times during the term of this
Agreement, and (iii) made with proceeds of Dispositions that were reinvested in a Replacement Asset within 12 months of the date of such Disposition and that did not result in the requirement of a mandatory prepayment pursuant to clause (ii)
of Section 2.05(b) of this Agreement; provided, however, that, for purposes of calculating the maximum amount of Consolidated Capital Expenditures permitted during any fiscal year in accordance with clause (a) of this
Section 8.12, so long as no Default has occurred and is continuing or would result from such expenditure, any portion of any amount set forth in the table above, if not expended in the fiscal year for which it is permitted above, may be
carried over for expenditure in the next following fiscal year (and such Consolidated Capital Expenditures made during any fiscal year shall first be applied to any carry-forward credit from the prior fiscal year). 
  
 Section 2.21 Amendment to Section 8.16. Section 8.16 of
the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
  
 8.16 No Prepayment of Indebtedness. Prepay (i.e., make any payment prior to the date on which such payment is contractually
obligated to be made) any Indebtedness; provided, however, that: 
  
 (a) subject to the following proviso, the Borrower may prepay its Indebtedness (including its Indebtedness evidenced by the Borrower
Senior Notes), provided that (i) the sum of the aggregate amount of all principal Indebtedness prepaid as permitted by this clause (a) plus the aggregate amount of all principal Indebtedness evidenced by the Holdings Senior Notes prepaid
(whether by redemption or otherwise) by Holdings shall not exceed $10,000,000 during any calendar year, (ii) no such prepayment referred to in this clause (a) may be made if any Revolving Loan is outstanding as of the date of making such
prepayment or would be outstanding immediately after the making of such prepayment, and (iii) any portion of the amount of any prepayment permitted by this clause (a) (inclusive of this proviso), if not made during any calendar year during
which it is permitted, may be carried over for making in the next following calendar year, 
  
 (b) Indebtedness which is permitted to be refinanced in accordance with Section 8.03 may be prepaid as a result of and in
connection with such permitted refinancing, 
  
 (c) the Borrower shall redeem the Borrower Existing Senior Notes not tendered pursuant to the Borrower Existing Senior Notes Tender Offer in accordance with Section 7.18, 
  
 (d) Holdings may repurchase or redeem the Holdings Existing Senior Notes not exchanged or tendered pursuant
to the Holdings Existing Senior Notes Exchange/Tender Offer, 
  
 (e) if and to the extent that the Borrower makes, and is permitted to make, distributions to Holdings in accordance with clause (iv) of Section 8.06(f), Holdings shall use all proceeds of such
distributions to promptly redeem a portion of the Holdings Senior Notes in accordance with Section 3.7 of the Holdings Senior Notes Indenture, and 
  

 Page 9 

 (f) the Borrower may use the Net Cash Proceeds of any Equity Issuance by the Borrower,
substantially concurrently with its receipt of such proceeds, to redeem up to 35% of the aggregate principal amount of the Borrower Senior Notes in accordance with Section 3.7(b) of the Borrower Senior Notes Indenture. 
  
 Section 2.22 Amendment to Section 8.19. Section 8.19 of
the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
  
 8.19 Undeveloped Land. The Borrower and its Subsidiaries will not own Undeveloped Land acquired at any time after the
Closing Date to the extent that the value of all such Undeveloped Land (which value shall be determined based upon the respective purchase price for each Property so acquired) exceeds $15,000,000 in the aggregate; provided, however,
for purposes of this Section 8.19, any Undeveloped Land acquired at any time after the Closing Date with the proceeds received from a Disposition of Undeveloped Land permitted in accordance with this Agreement shall not be included in the
valuation for purposes of compliance with this Section 8.19. The Borrower and its Subsidiaries will not acquire any Undeveloped Land to the extent the aggregate fair market value (which value shall be determined based upon the respective
purchase price for each Property so acquired) of such Undeveloped Land exceeds $5,000,000 at any time after the Closing Date unless such Undeveloped Land is, at the time of such acquisition, zoned for the use for which such land is intended to be
used by the Borrower. 
  
 Section 2.23 Amendment to Section
8.20. Section 8.20 of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
  
 8.20 Operating Leases. The Borrower and its Subsidiaries will not, as lessee, enter into, permit to exist or renew, in each
case on or after the Closing Date, any rental agreement or lease any real or personal Property if the aggregate amount of the annual rental expenses (determined in accordance with GAAP) and (without duplication) rental obligations then due and
payable of the Borrower and its Subsidiaries (on a consolidated basis) under any rental agreements or leases of real or personal Property (other than Capital Leases) entered into on or after the Closing Date exceeds $10,000,000 in any fiscal year.

  
 Section 2.24 Amendment to Section 9.01.
Section 9.01 of the Credit Agreement is hereby amended as follows: 
  
 (a) Section 9.01(b) of the Credit Agreement is amended to delete the reference to “7.10(a),” contained therein; and 
  
 (b) Section 9.01(c) of the Credit Agreement is amended to add “7.10(a),” therein
immediately prior to “7.12”. 
  
 Section 2.25
Amendment to Schedule 2.01. Schedule 2.01 of the Credit Agreement is hereby amended and restated to read in its entirety as set forth on First Amendment Schedule 2.01 attached hereto. 
  
 Section 2.26 Amendment to Form of Loan Notice (Exhibit A).
Exhibit A of the Credit Agreement, the form of Loan Notice, is hereby amended and restated to read in its entirety as set forth on First Amendment Exhibit A attached hereto.  
  

 Page 10 

 ARTICLE 3 
  

PETRO GUARANTY 
  
 Section 3.01 Conditional Release of Petro Guaranty. In the event that each of the following conditions precedent is satisfied (to the
reasonable satisfaction of the Administrative Agent) on or before June 30, 2005 (the “Petro Release Date Deadline”) and remains so satisfied on the proposed release date, then the Agents and the Lenders agree that the Administrative
Agent shall, upon the request of the Borrower and Petro made in writing to the Administrative Agent after the satisfaction of each of such conditions precedent and prior to the Petro Release Date Deadline, irrevocably release, in writing, Petro in
full from all of Petro’s obligations under its Guaranty: 
  
 (a) No Default or Event of Default shall have occurred at any time during the period from the First Amendment Date through and including the date of such release; 
  
 (b) Petro shall have been fully released from any and all of
its obligations under or with respect to any and all of its guaranties of any and all of the Borrower Existing Senior Notes, the Borrower Senior Notes, the Holdings Existing Senior Notes, the Holdings Senior Notes and/or the indebtedness evidenced
by any of such notes, the Senior Notes Indentures, the Borrower Existing Senior Notes Indenture and/or the Holdings Existing Senior Notes Indenture; and 
  
 (c) each of the Borrower and Petro shall have certified to the Administrative Agent, in writing, that the conditions precedent referred to
in clauses (a) and (b) above have been fully satisfied. 
  
 ARTICLE 4 
  
 CONDITIONS PRECEDENT;
REPRESENTATIONS AND WARRANTIES 
  
 Section 4.01
Conditions Precedent. The effectiveness of this Amendment is subject to the satisfaction of each of the following conditions precedent (except if and to the extent that any of such conditions precedent is waived in writing by the Agents
and the Required Lenders): 
  
 (a) The
Administrative Agent shall have received all of the following, each in form and substance and otherwise reasonably satisfactory to the Administrative Agent: 
  
 (i) Amendment. This Amendment duly executed by all parties hereto; 
  
 (ii) Revolving Notes. The Revolving Notes executed by the Borrower and payable to the order of the
Lenders in an aggregate principal amount equal to the Aggregate Revolving Commitments; 
  
 (iii) Wells Fargo Fee Letter. The Wells Fargo Fee Letter dated January 21, 2005 duly executed by the Borrower; 
  
 (vi) Modifications to the Mortgages, etc. Amendments
or modifications to each of the Mortgages which evidence the terms of this Amendment, duly executed by the Borrower and/or other applicable Loan Parties which are the grantors of Liens thereunder and in recordable form, and such endorsements (or, if
the Administrative Agent so agrees, commitments or assurances to issue such endorsements) to the mortgagee policies of title insurance issued for the benefit of the Administrative Agent, in each case as the Administrative Agent may require;

  

 Page 11 

 (vii) Ratification of Collateral Documents and Guaranties. The Ratification of
Collateral Documents and Guaranties executed by all parties thereto; 
  
 (viii) Resolutions. Certified resolutions of the board of directors, members, managers, partners or similar governing body of each Loan Party which authorize the execution, delivery and performance of this
Amendment and the other agreements, documents and instruments referred to herein to which such Loan Party is a party; 
  
 (ix) Organizational Documents. True and correct copies of any and all amendments to or modifications of any of the Organizational
Documents of any Loan Party or Petro since the Closing Date, certified (where applicable) by the appropriate Governmental Authorities; 
  
 (x) Certificates of Existence. Certificates of existence for each Loan Party and Petro issued as of a recent date by the
appropriate Governmental Authorities; 
  
 (xi)
Opinions of Counsel. Favorable legal opinion(s) of counsel to the Loan Parties and Petro addressed to the Agents and each Lender, dated as of the First Amendment Date and in form and substance reasonably satisfactory to the Administrative
Agents; and 
  
 (xii) Amendment Fee. An
amendment fee in the amount of $115,625 paid by the Borrower to the Administrative Agent (which fee shall be distributed by the Administrative Agent to each Lender in accordance with its pro rata share of the Aggregate Revolving Commitments and the
aggregate outstanding principal amount of the Term Loan). 
  
 (b) All representations and warranties of any Loan Party or Petro contained in the Credit Agreement or any other Loan Document shall be true and correct as of the date hereof as if made again on and as of the date
hereof (except to the extent that such representations and warranties were expressly, in the Loan Documents, made only in reference to a specific date). 
  
 (c) No Default or Event of Default shall have occurred and be continuing (after giving effect to this Amendment). 
  
 (d) If and to the extent required by the Administrative
Agent and presented for payment, all fees and expenses of counsel to the Administrative Agent payable by the Borrower in accordance with Section 11.04 of the Credit Agreement shall have been paid. 
  
 (e) The Administrative Agent and the Lenders shall be
satisfied that the terms and provisions of this Amendment, and the execution, delivery and performance thereof by the Loan Parties and Petro, do not require the consent or approval of the trustee under any Senior Notes Indenture or the holder of any
Senior Notes. 
  
 (f) The Administrative Agent
shall have confirmed to the Borrower, in writing, that each of the conditions precedent referred to in this Section 4.01 have been satisfied (which the Administrative Agent agrees to do promptly upon such satisfaction). 
  

 Page 12 

 Section 4.02 Representations and Warranties. Each of the Loan Parties represents and
warrants to the Agents and the Lenders that each of the conditions precedent set forth in Section 4.01 of this Amendment has been satisfied as of the date of this Amendment. Without limiting the generality of the foregoing, each of the Loan
Parties represents and warrants to the Agents and the Lenders that (a) all representations and warranties of any Loan Party or Petro contained in the Credit Agreement or any other Loan Document are true and correct as of the date hereof as if made
again on and as of the date hereof (except to the extent that such representations and warranties were expressly, in the Loan Documents, made only in reference to a specific date) and (b) no Default or Event of Default has occurred and is continuing
(after giving effect to this Amendment). Each of the Loan Parties further represents and warrants to the Agents and the Lenders that each of (i) the entirety of the Loans advanced and that may be advanced from time to time and (ii) the entirety of
the Obligations of the Borrower under Letters of Credit issued and that may be issued from time to time (including, without limitation, the additional $15,000,000 of such Indebtedness that may result from the amendment to the definition of the term
“Aggregate Revolving Commitments” contained in this Amendment) constitutes “Permitted Debt” as such term is defined in each of the Senior Notes Indentures. 
  
 ARTICLE 5 
  
 MISCELLANEOUS 
  
 Section 5.01 Ratifications. Except as expressly modified and superseded by this Amendment, the terms and provisions of the Credit Agreement
are ratified and confirmed and shall continue in full force and effect. The Loan Parties, the Agents and the Lenders agree that the Credit Agreement as amended hereby shall continue to be legal, valid, binding and enforceable in accordance with its
terms. 
  
 Section 5.02 Reference to Credit
Agreement. Each of the Loan Documents, including the Credit Agreement and any and all other agreements, documents or instruments now or hereafter executed and/or delivered pursuant to the terms hereof or pursuant to the terms of the Credit
Agreement as amended hereby, is hereby amended so that any reference in such Loan Document to the Credit Agreement shall mean a reference to the Credit Agreement as amended hereby. 
  
 Section 5.03 Severability. Any provision of this Amendment held by a court of competent jurisdiction to be
invalid or unenforceable shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable. 
  
 Section 5.04 Applicable Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE (INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF NEW YORK’S GENERAL OBLIGATIONS LAW REGARDING CHOICE OF LAW); PROVIDED THAT THE AGENTS AND
EACH LENDER SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL LAW. 
  
 Section 5.05 Successors and Assigns. This Amendment is binding upon and shall inure to the benefit of the Loan Parties, the Agents and the Lenders and their respective successors and permitted assigns, except that none of the
Loan Parties may assign or transfer any of its rights or obligations hereunder without the prior written consent of the Agents and the Required Lenders. 
  
 Section 5.06 Counterparts. This Amendment may be executed in one or more counterparts, each of which when so executed shall be deemed to be
an original, but all of which together shall constitute one and the same agreement. 
  

 Page 13 

 Section 5.07 Headings. The headings, captions and arrangements used in this Amendment are
for convenience only and shall not affect the interpretation of this Amendment. 
  
 Section 5.08 Amendment Fee. The Borrower agrees to pay the amendment fee referred to in clause (xii) of Section 4.01(a) of this Amendment above on the First Amendment Date.

  
 Section 5.09 Lender Consent to Modifications to
Mortgages. The Lenders hereby consent to the amendments or modifications to the Mortgages as referred to in clause (vi) of Section 4.01(a) of this Amendment. 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed as of the date first above written. 
  
 [The remainder of
this page is intentionally left blank.] 
  

 Page 14 

			
	 BORROWER:

	
	 PETRO STOPPING CENTERS, L.P.,

	 a Delaware limited partnership

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 HOLDINGS:

	
	 PETRO STOPPING CENTERS HOLDINGS, L.P.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 PETRO HOLDINGS:

	
	 PETRO HOLDINGS FINANCIAL CORPORATION

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 PETRO DISTRIBUTING:

	
	 PETRO DISTRIBUTING, INC.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 PETRO FINANCIAL:

	
	 PETRO FINANCIAL CORPORATION

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 Page 15 

			
	 AGENTS:

	
	 WELLS FARGO BANK, N. A.,

	 as Administrative Agent and Collateral Agent

		
	 By:
	 	  

	 Name:
	 	David G. James
	 Title:
	 	Vice President

  

 Page 16 

			
	LENDERS:
	
	WELLS FARGO BANK, N. A.,
	as a Lender and L/C Issuer
		
	By:	 	  

	Name:	 	David G. James
	Title:	 	Vice President

  

 Page 17 

			
	 BANK OF AMERICA, N.A.,

	 as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 Page 18 

					
	 BIG SKY LOAN FUND, LTD.,

	 as a Lender

		
	 By:
	 	 Eaton Vance Management

	 Title:
	 	 Investment Advisor

			
	 	 	 By:
	 	  

	 	 	 Name:
	 	  

	 	 	 Title:
	 	  

  

 Page 19 

					
	 CELERITY CLO LIMITED,

	 as a Lender

		
	 By:
	 	 TCW Advisors, Inc.

	 Title:
	 	 Agent

			
	 	 	 By:
	 	  

	 	 	 Name:
	 	  

	 	 	 Title:
	 	  

  

 Page 20 

					
	 C-SQUARED CDO LTD.,

	 as a Lender

		
	 By:
	 	 TCW Advisors, Inc.

	 Title:
	 	 Portfolio Manager

			
	 	 	 By:
	 	  

	 	 	 Name:
	 	  

	 	 	 Title:
	 	  

  

 Page 21 

					
	EATON VANCE SENIOR FLOATING-RATE TRUST,
	as a Lender
		
	By:	 	Eaton Vance Management
	Title:	 	Investment Advisor
			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

  

 Page 22 

					
	 EATON VANCE INSTITUTIONAL SENIOR LOAN
 FUND, as a Lender

		
	By:	 	Eaton Vance Management
	Title:	 	Investment Advisor
			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

  

 Page 23 

					
	 GRAYSON & CO.,

	 as a Lender

		
	 By:
	 	 Boston Management and Research

	 Title:
	 	 Investment Advisor

			
	 	 	 By:
	 	  

	 	 	 Name:
	 	  

	 	 	 Title:
	 	  

  

 Page 24 

			
	 RAYMOND JAMES BANK, FSB,

	 as a Lender

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 Page 25 

					
	 TCW SELECT LOAN FUND, LIMITED,

	 as a Lender

		
	 By:
	 	 TCW Advisors, Inc.

	 Title:
	 	 Collateral Manager

			
	 	 	 By:
	 	  

	 	 	 Name:
	 	  

	 	 	 Title:
	 	  

  

 Page 26 

 FIRST AMENDMENT SCHEDULE 2.01 
  
 SCHEDULE 2.01 
  

													
	 Lender

	  	Revolving
Commitment

	  	Pro Rata Share
of Aggregate
Revolving
Commitments

	 	 	Term Loan
Commitment

	  	Pro Rata Share of
Aggregate Term
Loan

	 
	 Bank of America, N.A.
	  	$	5,000,000.00	  	12.50	%	 	$	-0-	  	0.0000	%
	 Big Sky Loan Fund, Ltd.
	  	$	0	  	0	%	 	$	755,555.55	  	3.5556	%
	 Celerity CLO Limited
	  	$	0	  	0	%	 	$	1,700,000.00	  	8.0000	%
	 C-Squared CDO Ltd.
	  	$	0	  	0	%	 	$	1,789,473.68	  	8.4211	%
	 Eaton Vance Senior Floating-Rate Trust
	  	$	0	  	0	%	 	$	531,250.00	  	2.5000	%
	 Eaton Vance Institutional Senior Loan Fund
	  	$	0	  	0	%	 	$	765,497.08	  	3.6023	%
	 Grayson & Co.
	  	$	0	  	0	%	 	$	531,250.00	  	2.5000	%
	 Raymond James Bank, FSB
	  	$	2,500,000.00	  	6.25	%	 	$	2,125,000.00	  	10.0000	%
	 TCW Select Loan Fund, Limited
	  	$	0	  	0	%	 	$	1,789,473.68	  	8.4211	%
	 Wells Fargo Bank, N.A.
	  	$	32,500,000.00	  	81.25	%	 	$	11,262,500.00	  	53.0000	%
	 	  	
	
	  	
	
	 	
	
	  	
	

	 Total
	  	$	40,000,000.00	  	100.00	%	 	$	21,250,000.00	  	100.0000	%
	 	  	
	
	  	
	
	 	
	
	  	
	

  

 Page 27 

 FIRST AMENDMENT EXHIBIT A 
  
 EXHIBIT A 
  
 FORM OF LOAN NOTICE 
  
 Date:                     ,
200   
  

	To:	Wells Fargo Bank, N.A., as Administrative Agent 

  
 Ladies and Gentlemen: 
  
 Reference is made to that certain Credit Agreement, dated as of February 9, 2004 (as amended, restated, extended, supplemented or otherwise modified in
writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among Petro Stopping Centers, L.P., a Delaware limited partnership (the “Borrower”), certain Affiliates of
the Borrower, the Lenders from time to time party thereto and Wells Fargo Bank, N.A., as Administrative Agent, Collateral Agent and L/C Issuer. 
  
 The undersigned hereby requests (select which apply): 
  

	 	 ̈	A Borrowing of the Term Loan on the Closing Date 

  

	 	 ̈	A Borrowing of Revolving Loans 

  

	 	 ̈	A conversion or continuation of Loans 

  

	 	1.	On
                                        
                                        
                     (a Business Day). 

                                        
 [Specify for each Borrowing] 
  

	 	2.	In the amount of
$                                        
                                        
                         . 

                                        
 [Specify for each Borrowing] 
  

	 	3.	Comprised
of                                       
                                        
                                  . 

                                        
 [Type of Loan requested; specify for each Borrowing] 
  

	 	4.	For Eurodollar Rate Loans: with an Interest Period of      months [specify for each Borrowing]. 

  
 Each Borrowing, conversion or continuation of Loans requested herein complies
with all terms and provisions of the Agreement and all conditions precedent applicable thereto contained in the Agreement. Without limiting the generality of the foregoing, if a Borrowing of Revolving Loans is requested hereunder, the aggregate
outstanding principal amount of all Revolving Loans, immediately after giving effect to such requested Borrowing, is $             (exclusive of Revolving Loans made by the Lenders
pursuant to Section 2.03(c) of the Agreement as a result of the failure of the Borrower to timely reimburse the L/C Issuer for any drawing under a Letter of Credit) and does not exceed $35,000,000. 
  

			
	 PETRO STOPPING CENTERS, L.P.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 Page 28

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