Document:

Exhibit 4.2

 

 

CONSENT, AMENDMENT AND JOINDER AGREEMENT

 

THIS CONSENT, AMENDMENT
AND JOINDER AGREEMENT (this “Agreement”) is entered into as of October [__], 2016, by and among MICROPHASE CORPORATION,
a Connecticut corporation (“Microphase”), MICROPHASE WEST LLC, a Delaware limited liability company (“Microphase
West”, together with Microphase, “Existing Borrowers”), MICROPHASE INSTRUMENTS, LLC, a Delaware limited
liability company (“Joining Borrower”) and GERBER FINANCE INC., a New York corporation (“Lender”).

 

BACKGROUND

Lender and Existing
Borrowers are parties to an Amended and Restated Loan and Security Agreement dated as of February 3, 2012 (as amended, modified,
supplemented and restated from time to time, the “Loan Agreement”) pursuant to which Lender provides Existing
Borrowers with financial accommodations.

 

Existing Borrowers
have informed Lender that it has formed a new Subsidiary which is required to be joined as a Borrower under the Loan Agreement.
Existing Borrowers have requested that Lender permit it to incur additional Indebtedness. Existing Borrowers have requested that
Lender agree to certain amendments to the Loan Agreement.

 

NOW, THEREFORE, in
consideration of any loan or advance or grant of credit heretofore or hereafter made to or for the account of Borrowers by Lender,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree as follows:

 

1.                 
Definitions. All capitalized terms not otherwise defined herein shall have the meanings given to them in the
Loan Agreement.

 

2.                 
Joinder.

 

(a)               
The Joining Borrower is hereby added as a Borrower under the Loan Agreement; and all references to “Borrower”
thereunder shall hereafter be deemed to include Joining Borrower.

 

(b)              
The Joining Borrower agrees that, upon its execution hereof, it will become a Borrower under, and as defined in,
the Loan Agreement, and will be bound by all terms, conditions and duties applicable to a Borrower under the Loan Agreement. Without
limitation of the foregoing and in furtherance thereof, as security for the due and punctual payment of the Obligations, the Joining
Borrower hereby reaffirms and pledges, hypothecates, assigns, transfers, sets over and delivers to Lender and grants to Lender
a continuing security interest in all Collateral, now owned or at any time hereafter acquired by the Joining Borrower, or in which
Joining Borrower now has or at any time in the future may acquire any right, title or interest.

 

(c)               
In connection with the grant by the Joining Borrower, pursuant to Section 2(a) above, of a security interest in all
of its right, title and interest in the Collateral, the Joining Borrower (i) agrees to execute (if necessary) and deliver to Lender
such financing statements, in form acceptable to Lender, as Lender may request or as are necessary or desirable in the opinion
of Lender to establish and maintain a valid, enforceable, first priority perfected security interest in the Collateral owned by
the Joining Borrower, (ii) authorizes Lender to file any such financing statements without the signature of the Joining Borrower
where permitted by law and (iii) agrees to execute and deliver to Lender assignments of United States trademarks, patents and copyrights
(and the respective applications therefore) to the extent requested by Lender.

 

     

     

    

 

(d)              
Without limiting the foregoing, the Joining Borrower hereby makes and undertakes, as the case may be, each covenant,
representation and warranty made by Borrower pursuant to the Loan Agreement as of the date hereof and agrees to be bound by all
covenants, agreements and obligations of Borrower pursuant to the Loan Agreement.

 

3.                 
Consent. Subject to satisfaction of the conditions precedent set forth in Section 5 below, Lender agrees that
Microphase may incur unsecured Indebtedness in an aggregate amount not to exceed $700,000 (the “Additional Indebtedness”).

 

4.                 
Amendment. Subject to the satisfaction of the conditions precedent set forth in Section 5 below, the Loan
Agreement is amended as follows:

 

(a)               
The defined term “Eligible Accounts” in Section 1.1 is amended to provide as follows:

 

“Eligible Accounts”
means and includes each Account of each Borrower which conforms to the following criteria: (a) shipment of the merchandise or the
rendition of services has been completed; (b) merchandise or services shall not have been repossessed, returned, rejected or disputed
by the Account Debtor and there shall not have been asserted any offset, defense or counterclaim; (c) continues to be in full conformity
with the representations and warranties made by any Borrower to Lender with respect thereto; (d) Lender is, and continues to be,
satisfied with the credit standing of the Account Debtor in relation to the amount of credit extended; (e) there are no facts existing
or threatened which are likely to result in any adverse change in an Account Debtor’s financial condition; (f) is documented
by an invoice in a form approved by Lender and shall not be unpaid more than ninety (90) days from invoice date; (g) less than
fifty percent (50%) of the unpaid amount of invoices due from such Account Debtor remain unpaid more than ninety (90) days from
invoice date; (h) is not evidenced by chattel paper or an instrument of any kind with respect to or in payment of the Account unless
such instrument is duly endorsed to and in possession of Lender or represents a check in payment of an Account; (i) if the Account
Debtor is located outside of the United States, the payment of such Account is covered by a Credit Insurance Policy and such Account
conforms to the requirements of the applicable Credit Insurance Policy; provided, that the aggregate amount of Accounts from foreign
Account Debtors cannot exceed the lesser of (i) $200,000 or (ii) twenty percent (20%) of all Eligible Accounts; (j) Lender
has a first priority perfected Lien in such Account and such Account is not subject to any other Lien other than Permitted Liens;
(k) does not arise out of transactions with any employee, officer, agent, director, stockholder or Affiliate of a Borrower;
(l) is payable to a Borrower; (m) does not arise with respect to goods which are delivered on a cash-on-delivery basis or placed
on consignment, guaranteed sale or other terms by reason of which the payment by the Account Debtor may be conditional; (n) is
not an obligation of an Account Debtor that has suspended business, made a general assignment for the benefit of creditors, is
unable to pay its debts as they become due or as to which a petition has been filed (voluntary or involuntary) under any law relating
to bankruptcy, insolvency, reorganization or relief of debtors; (o) does not arise out of a bill and hold sale prior to shipment
(p) does not arise out of a sale to any Person to which any Borrower is indebted, unless the amount of such indebtedness, and any
anticipated indebtedness, is deducted in determining the face amount of such Account; (q) is net of any returns, discounts, claims,
credits and allowances; (r) if the Account arises out of contracts between a Borrower and the United States, any state, or any
department, agency or instrumentality of any of them (the “Government Accounts”), such Borrower has so notified
Lender, in writing, prior to the creation of such Account, and, for all such Accounts created on or after January 1, 2017, there
has been compliance with any governmental notice or approval requirements, including compliance with the Federal Assignment of
Claims Act; provided, that the aggregate amount of Government Accounts cannot exceed twenty percent (20%) of all Eligible Accounts;
(s) is a good and valid account representing an undisputed bona fide indebtedness incurred by the Account Debtor therein named,
for a fixed sum as set forth in the invoice relating thereto with respect to an unconditional sale and delivery upon the stated
terms of goods sold by a Borrower, or work, labor and/or services rendered by a Borrower; (t) the total unpaid Accounts from such
Account Debtor does not exceed twenty percent (20%) of all Eligible Accounts (with the exceptions set forth in (u) below) but only
the excess above twenty percent (20%) shall be excluded from Eligible Accounts; (u) the total unpaid Accounts from the Account
Debtors, Lockheed Martin, Saab, Raytheon and BAE does not exceed forty percent (40%) of all Eligible Accounts but only the excess
above forty percent (40%) shall be excluded from Eligible Accounts; (v) does not arise out of progress billings prior to completion
of the order; (w) such Borrower’s right to payment is absolute and not contingent upon the fulfillment of any condition whatsoever;
(x) a Borrower is able to bring suit and enforce its remedies against the Account Debtor through judicial process; (y) does
not represent interest payments, late or finance charges or service charges owing to Borrower; and (z) is otherwise satisfactory
to Lender as determined in good faith by Lender in the reasonable exercise of its discretion.

 

    	 	2	 

     

    

 

(b)              
The following defined terms are inserted in Section 1.1 in the appropriate alphabetical order:

 

“Additional Indebtedness”
means unsecured Indebtedness not to exceed an aggregate amount of $700,000 as evidenced by the Additional Notes.

 

“Additional Notes”
means those 10% Promissory Notes dated on or about October 31, 2016 issued by Initial Borrower in the aggregate principal amount
not to exceed $700,000.

 

“Credit Insurance Policy”
means a credit insurance policy issued by an insurance company satisfactory to Lender covering Borrowers’ Account in amounts
with deductibles and on terms and conditions satisfactory to Agent naming Lender as the beneficiary thereof, loss payee or additional
insured as Lender shall require.

 

(c)               
Article IX (Negative Covenants) is amended as follows:

 

(i)                
Section (b) is amended to provide as follows:

“(b)cancel any debt owing
to it or create, incur, assume or permit to exist any Indebtedness, except: (i) the Obligations, (ii) Indebtedness existing as
of the Closing Date set forth on Disclosure Schedule 9(b), (iii) deferred taxes, (iv) by endorsement of instruments or items of
payment for deposit to the general account of Borrower, (v) for Guaranteed Indebtedness incurred for the benefit of a Borrower
if the primary obligation is permitted by this Agreement; (vi) additional Indebtedness (including Purchase Money Indebtedness)
incurred after the Closing Date in an aggregate outstanding amount for Credit Parties not exceeding the Minimum Actionable Amount;
and (v) the Additional Indebtedness;”

 

(ii)              
Section (i) is amended to provide as follows:

 

“(i)make or permit any
Restricted Payment other than (i) interest and principal, when due without acceleration or modification of the amortization
as in effect on the Closing Date, under Indebtedness (not including Subordinated Debt, payments of which shall be permitted only
in accordance with the terms of the relevant Subordination Agreement made in favor of Lender) described in Disclosure Schedule
(9(b)) or otherwise permitted under Article X(b)(vi), (ii) interest and principal when due without acceleration or modification
of the Additional Notes solely with the proceeds of an initial public offering of Initial Borrower’s Stock; provided, that
after giving effect to such payment, the difference between (A) the lesser of the Borrowing Base and the Maximum Revolving Amount
and (B) the Revolving Credit Advances is at least $1,000,000 and no Event of Default has occurred and is continuing, and (iii)
so long as (x) the tax status of such Credit Party is a pass thru or disregarded entity within the meaning of the Internal Revenue
Code of 1986, as amended, (y) no Default or Event of Default shall have occurred and be continuing and (z) after first providing
such supporting documentation as Lender may request (including the personal state and federal tax returns of each Stockholder),
such Credit Party may pay Pass Thru Distributions not exceeding Pass Thru Tax Liabilities. Payments to Stockholders shall be made
so as to be available when the tax is due, including in respect of estimated tax payments.”

 

    	 	3	 

     

    

 

5.                 
Conditions Precedent. This Agreement shall become effective on the Business Day on which each of the following
conditions precedent shall have been satisfied pursuant to the agreements, instruments and documents in form and substance satisfactory
to Lender:

 

(a)               
Lender shall have received this Agreement duly executed by each Credit Party and consented to by each Guarantor;

 

(b)              
Each document (including, without limitation, any UCC financing statement) required by this Agreement or under law
or reasonably requested by Lender to be filed, registered or recorded in order to maintain Lender’s perfected security interest
in or lien upon the Collateral Lender shall have been properly filed, registered or recorded in each jurisdiction in which the
filing, registration or recordation thereof is so required or requested, and Lender shall have received evidence satisfactory to
it of each such filing, registration or recordation and satisfactory evidence of the payment of any necessary fee, tax or expense
relating thereto;

 

(c)               
Lender shall have received a fully executed copy of the Note Purchase Agreements and the Additional Notes evidencing
the Additional Indebtedness; and

 

(d)              
Lender shall have received such other certificates, instruments, documents and agreements as may reasonably be required
by Lender in connection with this Agreement or its counsel.

 

6.                 
Representations, Warranties and Covenants. Each Credit Party hereby represents, warrants and covenants as
follows:

 

(a)               
This Agreement, the Loan Agreement and the other Credit Documents constitute legal, valid and binding obligations
of such Credit Party and are enforceable against such Credit Party in accordance with their respective terms.

 

(b)              
Upon the effectiveness of this Agreement, such Credit Party reaffirms all covenants, representations and warranties
made in the Loan Agreement, the other Credit Documents and agree that all such covenants, representations and warranties shall
be deemed to have been remade as of the effective date of this Agreement.

 

(c)               
No Default has occurred and is continuing or would exist after giving effect to this Agreement.

 

(d)              
No Credit Party has any defense, counterclaim or offset with respect to the Loan Agreement, the other Credit Documents.

 

    	 	4	 

     

    

 

7.                 
Effect on the Loan Agreement.

 

(a)               
Upon the effectiveness of this Agreement, each reference in the Loan Agreement to “this Agreement,” “hereunder,”
“hereof,” “herein” or words of like import shall mean and be a reference to the Loan Agreement as amended
hereby.

 

(b)              
The Loan Agreement, the other Credit Documents shall remain in full force and effect, and are hereby ratified and
confirmed.

 

(c)               
Except as set forth herein, the execution, delivery and effectiveness of this Agreement shall not operate as a waiver
of any right, power or remedy of Lender, nor constitute a waiver of any provision of the Loan Agreement, the other Credit Documents.

 

8.                 
Governing Law. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns and shall be governed by and construed in accordance with the laws of the State of New York.

 

9.                 
Headings. Section headings in this Agreement are included herein for convenience of reference only and shall
not constitute a part of this Agreement for any other purpose.

 

10.             
Counterparts; Electronic Transmission. This Agreement may be executed by the parties hereto in one or more
counterparts, each of which shall be deemed an original and all of which when taken together shall constitute one and the same
agreement. Any signature delivered by a party by facsimile or electronic transmission shall be deemed to be an original signature
hereto.

 

    	 	5	 

     

    

 

IN WITNESS WHEREOF,
this Agreement has been duly executed as of the day and year first written above.

 

	 	MICROPHASE CORPORATION
	 	 	 
	 	By:	/s/ Necdet Ergul
	 	 	Name: Necdet Ergul
	 	 	Title:  Chief Executive Officer
	 	 	 
	 	MICROPHASE WEST LLC
	 	 	 
	 	By:	/s/ Necdet Ergul
	 	 	Name: Necdet Ergul
	 	 	Title: Manager
	 	 	 
	 	MICROPHASE INSTRUMENTS, LLC
	 	 	 
	 	By:	/s/ Michael Ghadaksaz
	 	 	Name: Michael Ghadaksaz
	 	 	Title:  Manager
	 	 	 
	 	GERBER FINANCE INC.
	 	 	 
	 	By:	/s/ Elena Goynatsky
	 	 	Name: Elena Goynatsky
	 	 	Title:  Senior Vice President

 

    	SIGNATURE PAGE TO
 CONSENT, AMENDMENT
 AND JOINDER AGREEMENT

     

    

 

CONSENT OF GUARANTORS

 

Each of the undersigned
does hereby (a) represent and warrant to Lender that the undersigned has reviewed and approved the terms and provisions of the
foregoing Agreement, (b) acknowledges, ratifies and confirms that all of the terms, conditions, representations and covenants contained
in the Guaranty executed by the undersigned in favor of Lender (the “Guaranty”) and that the Guaranty is in
full force and effect and shall remain in full force and effect after giving effect to the execution and effectiveness of the foregoing
Agreement, (c) acknowledges, ratifies and confirms that the defined term “Obligations” set forth in the Guaranty
includes, without limitation, all obligations and liabilities of each Credit Party to Lender under the foregoing Agreement and
(d) represents and warrants that no offsets, counterclaims or defenses exist as of the date hereof with respect to any of the undersigned’s
obligations under the Guaranty.

 

     

     

    

 

IN WITNESS WHEREOF,
the undersigned has executed this Consent of Guarantor as of the day and year first above set forth.

 

 

	/s/ Necdet Ergul	 	 
	Necdet Ergul	 	 
	 	 	 
	/s/ Ronald Durando	 	 
	Ronald Durando	 	 

 

    	SIGNATURE PAGE TO
 CONSENT OF GUARANTORS TO
 CONSENT, AMENDMENT
 AND JOINDER AGREEMENTExhibit 4.3

 

WAIVER OF DEFAULTS

 

THIS WAIVER TO THE LOAN
AND SECURITY AGREEMENT (this “Waiver”), dated as of November 15, 2016 is entered into by and among MICROPHASE CORPORATION,
a Connecticut company, MICROPHASE WEST LLC, a Delaware limited liability company, MICROPHASE INSTRUMENTS, LLC, a Delaware limited
liability company (each individually and collectively “Borrower”), NECEDET ERGUL, an individual and RONALD DURANDO,
an individual (each individually and collectively, “Guarantor”) and GERBER FINANCE INC., a New York corporation
(“Lender”).

 

RECITALS

 

Borrower and Lender are
parties to a Loan and Security Agreement dated as of February 3, 2012 (as amended from time to time, the “Loan Agreement”).

 

NOW, THEREFORE, in consideration
of the premises and of the mutual covenants and agreements herein contained, it is agreed as follows:

 

1.                 
Definitions. Capitalized terms used in this Waiver have the meanings given to them
in the Loan Agreement unless otherwise specified.

 

2.                 
Waiver of Defaults. Upon the terms and subject to the conditions set forth in this
Waiver, Lender hereby waives the Events of Default arising solely from the following Events of Default under Schedule III of the
Loan Agreement. 

 

(a)               
Credit Parties failure to generate a Net Profit on a combined basis for the Fiscal Years ending
June 30, 2014, June 30, 2015 and June 30, 2016. 

 

(b)              
Credit Parties on a combined basis making capital expenditures in excess of $50,000 financed
through the incurrence of additional Indebtedness (excluding the Loans) for the Fiscal Year ending June 30, 2016. 

 

(c)               
The Subordinated Debt being less than $1,000,000 at the end of each Fiscal Quarter since June
30, 2014. 

 

(d)              
Credit Parties on a combined basis maintaining Tangible Net Worth of at least $500,000 for
the Fiscal Year ending June 30, 2014, June 30, 2015 and June 30, 2016. 

 

3.                 
Conditions Precedent. This Waiver, and the waiver set forth in Paragraph 4 hereof shall
be effective when Lender shall have received an executed original hereof, together with each of the following, each in substance
and form acceptable to Lender in its sole discretion:

 

(a)               
The Acknowledgment and Agreement of Guarantors set forth at the end of this Waiver, duly executed
by the Guarantors;

 

(b)              
The Acknowledgment and Agreement of the Subordinated Creditors set forth at the end of this
Waiver, duly executed by the Subordinated Creditors; and

 

(c)               
A fee in the amount of $5,000 which may be charged to Borrowers’ loan account as a Revolving
Credit Advance.

 

4.                 
Representations and Warranties. Each Borrower hereby represents and warrants to Lender
as follows:

 

(a)               
Such Borrower has all requisite power and authority to execute this Waiver and any other agreements
or instruments required hereunder and to perform all of its obligations hereunder, and this Waiver and all such other agreements
and instruments has been duly executed and delivered by such Borrower and constitute the legal, valid and binding obligation of
Borrower, enforceable in accordance with its terms.

 

(b)              
The execution, delivery and performance by such Borrower of this Waiver and any other agreements
or instruments required hereunder have been duly authorized by all necessary corporate action and do not (i) require any authorization,
consent or approval by any governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign,
(ii) violate any provision of any law, rule or regulation or of any order, writ, injunction or decree presently in effect, having
applicability to such Borrower, or the articles of incorporation or formation or by-laws or operating agreement of such Borrower,
or (iii) result in a breach of or constitute a default under any indenture or loan or credit agreement or any other agreement,
lease or instrument to which such Borrower is a party or by which it or its properties may be bound or affected.

 

(c)               
All of the representations and warranties contained in the Loan Agreement are correct on and
as of the date hereof as though made on and as of such date, except to the extent that such representations and warranties relate
solely to an earlier date.

 

5.                 
References. All references in the Loan Agreement to “this Agreement” shall
be deemed to refer to the Loan Agreement as amended hereby; and any and all references in the Ancillary Agreement to the Loan Agreement
shall be deemed to refer to the Loan Agreement as amended hereby.

 

6.                 
No Other Waiver. Except as otherwise provided in Paragraph 4 hereof, the execution
of this Waiver and the acceptance of all other agreements and instruments related hereto shall not be deemed to be a waiver of
any Default or Event of Default under the Loan Agreement or a waiver of any breach, default or event of default under any Ancillary
Agreement, whether or not known to Lender and whether or not existing on the date of this Waiver.

 

7.                 
Release. Each Borrower hereby absolutely and unconditionally releases and forever discharges
Lender, and any and all participants, parent corporations, subsidiary corporations, affiliated corporations, insurers, indemnitors,
successors and assigns thereof, together with all of the present and former directors, officers, agents and employees of any of
the foregoing, from any and all claims, demands or causes of action of any kind, nature or description, whether arising in law
or equity or upon contract or tort or under any state or federal law or otherwise, which such Borrower has had, now has or has
made claim to have against any such person for or by reason of any act, omission, matter, cause or thing whatsoever arising from
the beginning of time to and including the date of this Waiver, whether such claims, demands and causes of action are matured or
unmatured or known or unknown.

 

    	 	2	 

     

    

 

8.                 
Costs and Expenses. Each Borrower hereby reaffirms its agreement under the Loan Agreement
to pay or reimburse Lender on demand for all costs and expenses incurred by Lender in connection with the Loan Agreement and the
Ancillary Agreements, including without limitation all reasonable fees and disbursements of legal counsel. Without limiting the
generality of the foregoing, Borrower specifically agrees to pay all fees and disbursements of counsel to Lender for the services
performed by such counsel in connection with the preparation of this Waiver and the documents and instruments incidental hereto.
Each Borrower hereby agrees that Lender may, at any time or from time to time in its sole discretion and without further authorization
by Borrower, make a loan to Borrower under the Loan Agreement, or apply the proceeds of any loan, for the purpose of paying any
such fees, disbursements, costs and expenses and the fee required under Paragraph 5 of this Waiver.

 

9.                 
Governing Law. This Waiver shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns and shall be governed by and construed in accordance with the laws of the State
of New York.

 

10.             
Headings. Section headings in this Waiver are included herein for convenience of reference
only and shall not constitute a part of this Waiver for any other purpose.

 

11.             
Counterparts; Facsimile. This Waiver may be executed by the parties hereto in one or
more counterparts, each of which shall be deemed an original and all of which when taken together shall constitute one and the
same agreement. Any signature delivered by a party by facsimile transmission shall be deemed to be an original signature hereto.

 

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

  

 

	 	MICROPHASE CORPORATION
	 	 	 
	 	By:	/s/ Necdet Ergul
	 	Name:	Necdet Ergul
	 	Title:	Chief Executive Officer
	 	 	 
	 	MICROPHASE WEST LLC
	 	 	 
	 	By:	/s/  Necdet Ergul
	 	Name:	Necdet Ergul
	 	 	 
	 	 	 
	 	GERBER FINANCE INC.
	 	 	 
	 	By:	/s/  Elena Goynatsky
	 	Name:	Elena Goynatsky
	 	Title:	Senior Vice President  
	 	 	 
	 	 	 
	 	/s/  Necdet Ergul
	 	NECDET ERGUL, an individual
	 	 	 
	 	/s/  Ronald Durando
	 	RONALD DURANDO, an individual

 

    	 	3	 

     

    

 

ACKNOWLEDGMENT AND AGREEMENT OF GUARANTORS

 

The undersigned, each a guarantor of the
indebtedness of Microphase Corporation and Microphase West LLC (each a “Borrower”) to Gerber Finance Inc. (“Lender”)
pursuant to separate Guaranties hereby (i) acknowledge receipt of the foregoing Waiver; (ii) consent to the terms and execution
thereof; (iii) reaffirm his/its obligations to Lender pursuant to the terms of his/its Guaranty; and (iv) acknowledge that Lender
may amend, restate, extend, renew or otherwise modify the Loan Agreement and any indebtedness or agreement of Borrower, or enter
into any agreement or extend additional or other credit accommodations, without notifying or obtaining the consent of the undersigned
and without impairing the liability of the undersigned under his/its Guaranty for all of Borrower’s present and future indebtedness
to Lender.

 

	 	/s/ Necdet Ergul
	 	NECEDET ERGUL, an individual
	 	 	 
	 	/s/ Ronald Durando
	 	RONALD DURANDO, an individual

 

    	 	4	 

     

    

 

ACKNOWLEDGMENT AND AGREEMENT OF SUBORDINATED
CREDITORS

 

The undersigned, each a subordinated creditor
of Microphase LLC and Microphase West LLC (“Borrower”) to Gerber Finance Inc. (“Lender”) pursuant to a
separate Subordination Agreement (each, a “Subordination Agreement”), hereby (i) acknowledges receipt of the foregoing
Waiver; (ii) consents to the terms and execution thereof; (iii) reaffirms his obligations to Lender pursuant to the terms of his
Subordination Agreement; and (iv) acknowledges that Lender may amend, restate, extend, renew or otherwise modify the Credit Documents
and any indebtedness or agreement of Borrower, or enter into any agreement or extend additional or other credit accommodations,
without notifying or obtaining the consent of the undersigned and without impairing the obligations of the undersigned under his
Subordination Agreement.

 

	 	/s/ Necdet Ergul
	 	NECEDET ERGUL, an individual
	 	 
	 	/s/ Ronald Durando
	 	RONALD DURANDO, an individual
	 	 
	 	 
	 	GUS DOTOLI, an individual
	 	 
	 	/s/ Jeffrey Peterson
	 	JEFFREY PETERSON, an individual
	 	 
	 	/s/ Derrin Temel 
	 	DERRIN TEMEL, an individual
	 	 
	 	/s/ Semra Temel 
	 	SEMRA TEMEL, an individual
	 	 
	 	/s/ Eda Peterson
	 	EDA ERGUL PETERSON, an individual
	 	 
	 	/s/ Berrin Snyder
	 	BERRIN SNYDER, an individual

 

    	 	5

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