Document:

aehr_ex43

 

Exhibit
4.3

 

DESCRIPTION OF SECURITIES

 

The following summary of the terms of our capital stock is based
upon our Restated Articles of Incorporation (the “Articles of
Incorporation”) and our Amended and Restated Bylaws (the
“Bylaws”). The summary is not complete, and is
qualified by reference to our Articles of Incorporation and Bylaws
which are filed as exhibits to this Annual Report on Form 10-K and
are incorporated by reference herein. We encourage you to read our
Articles of Incorporation, our Bylaws and the applicable provisions
of the California Corporations Code for additional
information.

 

Authorized Shares of Capital Stock

Our authorized capital stock consists of 75 million shares of
common stock, $0.01 par value, and 10 million shares of preferred
stock, $0.01 par value.

 

Listing

Our common stock is listed and principally traded on The Nasdaq
Capital Market under the symbol “AEHR.”

 

Voting Rights

Each holder of shares of our common stock is entitled to one vote
for each share held of record by such holder on the applicable
record date on all matters submitted to a vote of
shareholders. At a shareholders' meeting at which directors
are to be elected, no shareholder shall be entitled to cumulate
votes unless the candidates' names have been placed in nomination
prior to commencement of the voting and a shareholder has given
notice prior to commencement of the voting of the shareholder's
intention to cumulate votes. If any shareholder has given such a
notice, then every shareholder entitled to vote may cumulate votes
for candidates placed in nomination and give one candidate a number
of votes equal to the number of directors to be elected multiplied
by the number of votes to which that shareholder's shares are
entitled, or distribute the shareholder's votes on the same
principle among any or all of the candidates, as the shareholder
thinks fit. The candidates receiving the highest number of votes,
up to the number of directors to be elected, shall be elected. On
all other matters submitted to the shareholders, the affirmative
vote of the majority of the voting power of the shares present in
person or represented by proxy and entitled to vote shall be the
act of the shareholders.

 

Dividend Rights

Subject to any preferential dividend rights granted to the holders
of any shares of our preferred stock that may at the time be
outstanding, holders of our common stock are entitled to receive
dividends as may be declared from time to time by our board of
directors out of funds legally available therefor.

 

Rights upon Liquidation

Subject to any preferential rights of outstanding shares of
preferred stock, holders of our common stock are entitled to share
pro rata, upon any liquidation or dissolution of Aehr, in all
remaining assets legally available for distribution to
shareholders.

 

Other Rights and Preferences

Our common stock has no sinking fund, redemption provisions, or
preemptive, conversion, or exchange rights. Special meetings of
shareholders may be called by shareholders holding shares
representing not less than 10% of the outstanding votes entitled to
vote at the meeting. Holders of our common stock may also act by
unanimous written consent.

 

Transfer Agent and Registrar

Computershare Trust Company, N.A. is the transfer agent and
registrar for our common stock.

 

Certain Anti-Takeover Effects

As a California corporation, Aehr is subject to the provisions of
Section 1203 of the California General Corporation Law, which
requires it to provide a fairness opinion to its shareholders in
connection with their consideration of any proposed
“interested party” reorganization
transaction.Document

EXHIBIT 10.27

PRIVATE & CONFIDENTIAL

26 June 2019

ATTENTION: SUPER MICRO COMPUTER, INC. TAIWAN

RE: The Summary of Credit Facilities

According to Super Micro's needs of bank facilities, CTBC BANK CO., LTD. has approved bank facilities and terms below:
															
	Product Type	Credit Line Amount	Tenor	Interest Rate	Notes
	Short Term Loan / Guarantee	TWD700M/
TWD100M	1 Year	I1(M)+0.25%/5% p.a.	1. Collateral: BaDe factory
2. Guarantee line is included in Short Term Loan.
	Short Term Loan	TWD1,500M	1 Year	Bargaining Rate	1. Clean loan
2. Loan drawdown against TW local buyer's trade documents (P/Os or Invoices).
3. Drawdown Tenor: 180 Days
4. Up to 100% of invoice amount can be financed
	Export O/A Loan	USD50M	1 Year	Bargaining Rate	1. Clean loan
2. Drawdown Tenor: 120 Days
3. O/A list is required upon drawdown.
4. Up to 100% of invoice amount can be financed.
5. O/A loan drawdown could be financed via TWD. (*
	Total Cap	USD50M

Bargaining Rate:
1M COF / I1 +0.30%: repay by the end of each quarter (Mar31, Jun30, Sep30, Dec31)
1M COF / I1 +0.50%: Drawdown cross quarter

    COF: CTBC BANK's cost of USD fund.
I1: CTBC BANK's cost of TWD fund.
(*: If choosing TWD, TWD interest base rate will be "I1", and to plus the same margin.

Collateral: BaDe factory: Mortgaged amount TWD1,160M.

中國僖託商業銀行 (股)公 司 CTBC Bank Co., Ltd.
11568 臺北市南港區經貿二路 168 號 No.168, Jingmao 2nd Rd.,  Nangang Dist., Taipei City 11568, Taiwan, R.O.C 
Tel: 886-2-3327-7777

Terms:

•Shared revolving line of credit facility of USD50M for SUPER MICRO COMPUTER, INC. TAIWAN and SUPER MICRO COMPUTER B.V.

•Tenor: From 26 June 2019 to 30 June 2020

Yours Faithfully,
For and on behalf of
CTBC BANK CO., LTD.

中國僖託商業銀行 (股)公 司 CTBC Bank Co., Ltd.
11568 臺北市南港區經貿二路 168 號 No.168, Jingmao 2nd Rd.,  Nangang Dist., Taipei City 11568, Taiwan, R.O.C 
Tel: 886-2-3327-7777Document

EXHIBIT 10.28

PRIVATE & CONFIDENTIAL
6 May 2020                
ATTENTION: SUPER MICRO COMPUTER, INC. TAIWAN

TWD 1,200 Million 10-Year Term Loan Facility
Summary of Terms & Conditions

According to Super Micro’s needs of debt finance, CTBC Bank CO., LTD. Would like to propose the indicative bank facilities and terms below: 
																											
	Borrower	Super Micro Computer, Inc. Taiwan(美超微電腦股份有限公司)
	Purpose	To finance the construction cost of Bade Factory phase 1 expansion.
	Lender	CTBC Bank Co., Ltd. ("CTBC")
	Collateral	Bade Factory, and its buildings after phase 1 expansion completed.
Serial No.: 桃園市八德區大安段 483-1 、484 建號
Land Serial No.: 桃園市八德區大安段 422-1、422-3、422-4、422-6、422-13、422-14、422-15、422-17 、422-18、422-21 、429、429-1、429-2、429-3 、430 、430-1、430-2、431 、431-1 、431-2 、431-4 、434 、434-2 、434-3 、434-4 、434-5 、538 、538-1 、538-3
	Facility Amount	TWD1,200,000,000only (CTBC facility no.: TW00129786)
	Facility Type	Program loan-long term, non-revolving
	Maturity	120 months from the Initial Drawdown Date
	Interest Rate	2-year term floating rate of postal saving interest rate (2YR POSR) + 0.105%
	Commission fee subsidy from National Development Fund	Loan Facility operates and governed in accordance with the guidelines of the National Development Fund ("NDF") "Loans for Accelerated Investment by Domestic Corporation"  (根留台灣企業加速
投資專案貸款), the interest rate bearing could be deducted directly with such subsidy.
(For example: the approved commission fee rate is 0.50% for the first 5 years, therefore the actual interest rate bearing for the Borrower will be "2YR POSR - 0.395%" for the first 5 years, and "2YR POSR + 0.105%" for the last 5 years)

	Utilization	  1. Drawdown application against commercial invoices issued within 6 months by the contractor. Each utilization amount is up to 80% of each invoice amount. Invoices payables paid by the Borrower are accepted. The invoice numbers which are financed shall be monitored in avoidance of multiple financing. Facility drawdowns are subject to pay and transfer to the contractor's account, except for those paid payables by the Borrower.
  2. The portion of drawdown amount shall be draw according to the progree of construction. The identification of each progres of construction based on each verifciation letter issued by SGS Taiwan Limited.

																											
			item	Progress of Construction	Portion	Accum.Portion	Amount	Accum.Amount	
	1	H 型銅樁打設完成	3.00%	3.00%	36,000,000 		36,000,000 		
	2	第一階支撐架設完成	3.00%	6.00%	36,000,000 		72,000,000 		
	3	土方開挖完成	3.00%	9.00%	36,000,000 		108,000,000 		
	4	筏碁層結構灌漿完成	6.00%	15.00%	72,000,000 		180,000,000 		
	5	B2 結構體灌漿完成
	6.00%	21.00%	72,000,000 		252,000,000 		
	6	B1 結構體灌漿完成
	5.00%	26.00%	60,000,000 		312,000,000 		
	7	1F 結構體灌漿完成
	5.00%	31.00%	60,000,000 		372,000,000 		
	8	2F 結構體灌漿完成
	5 00%	36.00%	60,000,000 		432,000,000 		
	9	3F 結構體灌漿完成
	5.00%	41.00%	60,000,000 		492,000,000 		
	10	4F 結構體灌漿完成
	5.00%	46.00%	60,000,000 		552,000,000 		
	11	5F 結構體灌漿完成
	5.00%	51.00%	60,000,000 		612,000,000 		
	12	6F 結構體灌漿完成
	5.00%	56 00%	60,000,000 		672,000,000 		
	13	7F 結構體灌漿完成	5.00%	61.00%	60,000,000 		732,000,000 		
	14	8F 結構體灌漿完成
	5.00%	66.00%	60,000,000 		792,000,000 		
	15	9F 結構體灌漿完成
	3.00%	69.00%	36,000,000 		828,000,000 		
	16	屋突層結構體灌漿完成

	2.00%	71.00%	24,000,000 		852,000,000 		
	17	外牆粉刷打底完成	4.00%	75.00%	48,000,000 		900,000,000 		
	18	外牆鋁窗及帷幕安裝完成
	3.00%	78.00%	36,000,000 		936,000,000 		
	19	外牆貼磚 完成	4.00%	82.00%	48,000,000 		984,000,000 		
	20	外牆拆 架完成	3.00%	85.00%	36,000,000 		1,020,000,000 		
	21	消防檢查合格	3 00%	88.00%	36,000,000 		1,056,000,000 		
	22	取得使用執照

	2.00%	90.00%	24,000,000 		1,080,000,000 		
	23	送水送電完成	3.00%	93.00%	36,000,000 		1,116,000,000 		
	24	機電空調測試完成	2.00%	95.00%	24,000,000 		1,140,000,000 		
	25	驗收完成
	5.00%	100.00%	60,000,000 		1,200,000,000 		
		Total	100.00%		1,200,000,000 			
	For item 17~21, the order of drawdown could vary based on construction situation. Thecumulative drawdown amount shall be constrained up to 71% of the Facility before the structure of the building is constructed.

																											
	Availability Period	Available for drawdown by the Borrower within 24 months from the Initial Drawdown Date Any undrawn facility amount shall be cancelled automatically at the end of the relevantAvailability Period.
	Repayments	Subject to a grace period of 36 months after the Initial Drawdown Date, the total principal
outstanding under the Facility shall be amortized monthly from the 37th month. 
Scheduled repayment day is set on the 15th day of each month.
	Conditions Precedent for Initial Drawdown	Obtain a waiver from the USD250M Syndication arranged by Bank of America for Super Micro Computer, Inc. which is about limitation on debt facilities ceiling of the Borrower.
Delivery of copies of construction license of BaDe Factory phase 1 expansion
Delivery of copies of signed construction contract
Delivery of copies of investment plan for "Action Plan for Accelerated Investment by Domestic Corporations" (根留台灣企業加速投資專案貸款).
Delivery of copies of consent letter of qualification for "Action Plan for Accelerated Investment by Domestic Corporations " (根留台灣企業加速投資專案貸款).
Delivery of written consent form by the contractor who agrees to unconditionally waive any contractor's lien thereto and the rights to request for the lien registration. 
Delivery of warranty by the Borrower of mortgage of unregistered buildings.
Delivery of warranty by the Borrower that shall not change the identity of project applicant (起造人).
Collateral shared mortgage with CTBC facility no. TW00026207 (ie: Short-Term revolver TWD 700 million). Total mortgage amount shall be no less than TWD 2,280 million via change of registration rights.

	Conditions Subsequent	Immediately mortgage the buildings constructed on the land lots to CTBC at the first priority lien within 1 month after the completion of the construction and registration.
Delivery a collateral appraisal report from certified appraiser in form and substance satisfactory to CTBC within 2 months after the completion of the construction and registration.
In case the Borrower violates guidelines of "Action Plan for Accelerated Investment by Domestic Corporations" (根留台灣企業加速投資專案貸款), or the NDF ceases the commission fee subsidy, the applicable interest rate shall restore to "2YR POSR + 0.105%"

	Major Covenants and Undertakings	The ultimate parent company Super Micro Computer, Inc. shall all times maintain, directly and indirectly, 100% of the Borrower's equity capital.
The Borrower shall keep accurate and complete accounting records and vouchers. In case the Borrower violates guidelines, the Borrower shall return all the commission fees paid by the NDF for the case. 
The Borrower warrants that, during the period of construction by the project applicant, it shall not grant junior liens on the collateral to any third party.
The Borrower as the project applicant warrants that it shall not change the identity of the project applicant or any reduction of construction area without obtaining prior written consent from CTBC.

																											
	Financial Covenants	The following financial covenants shall be tested semi-annually based on the Borrower's financial statements: 
     (1) Current Ratio (Current Assets / Current Liabilities ) ≥ 100% ; 
     (2) Debt Service Coverage Ratio (EBITDA / (Current Portion of Long-Term Debt + Interest Expense ) ) ≥ 130% ;
     (3) Financial Debt Ratio ( Total Financial Debts / Tangible Net Worth ) ≤ 180% 

The above financial covenants shall be renegotiated whenever the Borrower engages phase 2 land acquisition plans.

Yours Faithfully,               

For and on behalf of                   

CTBC BANK CO., LTD.

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