Document:

mram_Ex10_2

		
			Exhibit 10.2
		

		
			NON-EMPLOYEE DIRECTOR COMPENSATION 
		

		
			Cash Compensation 
		

		
			Each non-employee director receives an annual fee of $24,000 in cash for serving on the Board of Directors. The Chairman of the Audit Committee of the Board of Directors receives an additional annual cash fee of $7,500. All fees in cash are payable in equal quarterly installments, payable in arrears. 
		

		
			Equity Compensation 
		

		
			Initial Grants. Newly-elected non-employee directors will be granted an option to purchase 30,000 shares of Everspin common stock (the “Initial Grant”). The shares underlying the Initial Grant will vest monthly over three years subject to continued service on each vesting date. In the event of a change in control, any unvested portion of the shares underlying an Initial Grant will fully vest and become exercisable immediately prior to the effective time of the change in control. 
		

		
			Annual Grants. On the date of each annual meeting of stockholders, each then current non-employee director may receive additional annual stock option grants or restricted stock unit grants (the “Annual Grant”), in an amount to be determined by the Compensation Committee. All stock options underlying an Annual Grant will vest monthly over one year from the date of grant.  The restricted stock units vest in full one year after the date of grant. In the event of a change in control, any unvested portion of the shares underlying an Annual Grant will fully vest and become exercisable immediately prior to the effective time of such change in control. 
		

		
			 
		

		 

		

			1.Document

Exhibit 10.1

CARVANA CO.

CONTRIBUTION AGREEMENT

This Contribution Agreement (this “Agreement”) is made and entered into as of August 6, 2019 by and between Carvana Co., a Delaware corporation (the “Company”), and Ernest C. Garcia III (“Mr. Garcia”).

WHEREAS, Mr. Garcia wishes to transfer 59,400 shares of the Company’s common stock to the Company (the “Contributed Shares”);

WHEREAS, the Company desires to accept the Contributed Shares as a contribution to the capital of the Company; and

WHEREAS, the Compensation and Nominating Committee of the Company desires to approve restricted stock awards to certain employees of the Company and its subsidiaries under the Carvana Co. Omnibus Incentive Plan in an aggregate number of shares of the Company’s common stock equivalent to the Contributed Shares.

NOW, THEREFORE, the parties hereto agree as follows:

1. Contribution.  On August 9, 2019 (the “Contribution Date”), Mr. Garcia shall contribute and transfer the Contributed Shares to the Company (the “Contribution”), without any cost or charge to the Company except as set forth in Section 5 below.

2. Acknowledgement.  Mr. Garcia acknowledges that from and after the Contribution Date, the Company will be the owner of all right, title and interest in and to the Contributed Shares. In furtherance of the foregoing, from and after the Contribution Date, Mr. Garcia shall not at any time do or suffer to be done any act or thing which may adversely affect any rights of the Company in and to the Contributed Shares.

3. Representations and Warranties.

(a) Company represents and warrants that: (i) it has all necessary power and authority to enter into and perform this Agreement, and (ii) this Agreement constitutes a valid and binding obligation which is enforceable against Company in accordance with its terms.

(b) Mr. Garcia represents and warrants that: (i) he has good title to the Contributed Shares, free and clear of any pledge, lien, security interest, encumbrance, claim or equitable interest, (ii) he has all necessary power and authority to enter into and perform this Agreement, and (iii) this Agreement constitutes a valid and binding obligation which is enforceable against Mr. Garcia in accordance with its terms. 

4. Disclosure of Information.  Mr. Garcia believes he has received all the information he considers necessary or appropriate for deciding whether to contribute the Contributed Shares to the Company pursuant to this Agreement. Mr. Garcia further represents that he has had an opportunity to ask questions and receive answers from the Company regarding the business, properties, prospects and financial condition of the Company.

5. Tax Indemnification.  The Company will be solely liable for, and shall indemnify and hold harmless Mr. Garcia for, any and all Taxes (as defined below) incurred by Mr. Garcia as a result of the Contribution.  As used herein, “Taxes” means all federal, state, local, foreign and other income, net income, gross income, gross receipts, estimated, add-on minimum, sales, use, ad valorem, gift, transfer, franchise, profits, registration, license, lease, service, service use, withholding, payroll, employment, unemployment, social security, welfare, workers’ compensation, disability, excise, severance, stamp, occupation, premium, property, windfall profits, customs, duties, levies, tariff, impost, escheat or other taxes, fees, assessments or charges of any kind whatsoever.

6. Further Assurances.  From time to time, and without any further consideration, the parties hereto agree to execute, acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases, acquittances and other documents, and to do all such other acts and things, all in accordance with applicable law, as may be necessary or appropriate (a) more fully to ensure that the applicable parties hereto own all of the properties, rights, titles, interests, estates, remedies, powers and privileges granted by this Agreement, or which are intended to be so granted, (b) more fully and effectively to vest in the applicable parties hereto and their respective successors and assigns beneficial and record title to the Contributed Shares assigned by this Agreement or intended to be so and (c) more fully and effectively to carry out the purposes and intent of this Agreement.

7. No Third Party Rights.  The provisions of this Agreement are intended to bind the parties hereto as to each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies and no person is or is intended to be a third party beneficiary of any of the provisions of this Agreement.

8. Specific Enforcement.  It is agreed and understood that monetary damages would not adequately compensate an injured party for the breach of this Agreement by any party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order. Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach. In any action, proceeding or dispute, with or without litigation, arising out of this Agreement, the successful party therein, regardless of whether the matter is pursued to judgment or is voluntarily dismissed, shall be entitled to recover from the other party thereto the reasonable attorneys’ and paralegals’ fees and all other expenses and/or costs incurred by the successful party in connection therewith. 

9. Amendments and Waivers.  Any term hereof may be amended and the observance of any term hereof may be waived only with the written consent of each party hereto. Any amendment or waiver so effected shall be binding upon the Company and Mr. Garcia and any assignee or transferee thereof.

10. Severability.  Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

11. Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.

12. Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

13. Captions.  The captions, headings and arrangements used in this Agreement are for convenience only and do not in any way limit or amplify the terms and provisions hereof.

14. Entire Agreement. This Agreement contains the entire understanding of the parties and there are not further or other agreements or understandings, written or oral, in effect between the parties relating to the subject matter hereof except as expressly referred to herein

15. Successors and Assigns.  The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successor and assigns of the parties.

[Signature Page Follows]

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

												
	CARVANA CO.			
				
	By:		/s/ Paul Breaux	
	Name:		Paul Breaux	
	Title:		General Counsel and Secretary	
				
	ERNEST C. GARCIA III			
				
	/s/ Ernest C. Garcia IIIEX-10.1

 EXHIBIT 10.1 

Execution Version 
 AMENDMENT NO. 1 TO
ABL CREDIT AGREEMENT 
 This AMENDMENT NO. 1 TO ABL CREDIT AGREEMENT, dated as of April 26, 2019 (this
“Agreement”), by and among MKS Instruments, Inc., a Massachusetts corporation (the “Borrower”), the other Loan Parties party hereto, Barclays Bank PLC (“Barclays”), as the administrative agent and
the collateral agent (in such capacity, the “Administrative Agent”) under the Credit Agreement referred to below, and each Lender party hereto. 

RECITALS: 

WHEREAS, reference is made to the ABL Credit Agreement, dated as of February 1, 2019 and as amended, restated, amended and
restated, supplemented or otherwise modified prior to the date hereof, the “Existing Credit Agreement”; and as amended by this Agreement, the “Credit Agreement”), among the Borrower, the other Borrowers from time to
time party thereto, the Lenders and L/C Issuers from time to time party thereto and the Administrative Agent (capitalized terms used but not defined herein having the meaning provided in the Credit Agreement), pursuant to which the Lenders provided
the Borrower with a senior secured asset-based revolving credit facility in the amount of $100,000,000; 
 WHEREAS, each Loan Party
under the Existing Credit Agreement expects to realize substantial direct and indirect benefits as a result of this Agreement becoming effective and the consummation of the transactions contemplated hereby and agrees to reaffirm its obligations
pursuant to the Credit Agreement, the Collateral Documents, and the other Loan Documents to which it is a party; 
 WHEREAS, the
Borrower has requested that the Existing Credit Agreement be amended as set forth herein; 
 WHEREAS, the undersigned, constituting
the Supermajority Lenders, are willing to agree to such amendments as set forth herein; 
 NOW, THEREFORE, in consideration of the
premises and agreements, provisions and covenants herein contained, the parties hereto agree as follows: 
  

	1.	 Credit Agreement Amendments. Effective as of the Amendment No. 1 Effective Date, the
Existing Credit Agreement is hereby amended as follows: 

 The definition of “Borrowing Base” in the Existing
Credit Agreement is hereby amended and restated in its entirety as follows: 
 “Borrowing Base” means (a) the sum of 85% of
Eligible Accounts of the Loan Parties; plus (b) either (i) with respect to any calculation conducted at any time prior to the completion of Administrative Agent’s and its third-party consultants’ and representatives’ initial
field examination and appraisal of the Inventory of the Loan Parties after the Closing Date (it being understood that the Administrative Agent shall be permitted to conduct (or engage third parties to conduct) customary field examinations and
inventory appraisals on the Inventory in its Permitted Discretion at any such time, and such initial field examination and inventory appraisal shall constitute a field examination and/or appraisal, as applicable, contemplated by
Section 6.06(b)(i)), the lesser of (A) 20% of the net book value of Eligible Inventory of the Loan Parties located in the U.S. and (B) 30% of the Borrowing Base or (ii) with respect to any calculation conducted at any time thereafter, the
lesser of (A) the lesser of (x) 65% of the lower of cost or market value (on a first-in-first-out basis) of Eligible
Inventory of the Loan Parties and (y) 85% of the Net Orderly Liquidation Value of Eligible Inventory of the Loan Parties and (B) 30% of the Borrowing Base; minus (c) Reserves established by the Administrative Agent in the exercise of its
Permitted Discretion. The Administrative Agent shall have the right, acting within the Administrative Agent’s Permitted Discretion, (x) to modify eligibility standards upon three (3) Business Days’ prior notice to MKS and
(y) to establish and modify Reserves against the Borrowing Base upon three (3) Business Days’ prior notice to MKS (it being understood that on or after the third Business Day prior to the effectiveness of such establishment or
modification, solely for purposes of incurring any new Credit Extension, the Borrowing Base shall be calculated after giving effect to such establishment or modification of Reserves). 

 In connection with any Post-Closing Acquisition, MKS may submit a Borrowing Base Certificate
reflecting a calculation of the Borrowing Base that includes Eligible Accounts acquired in connection therewith (the “Acquired Eligible Accounts”) and, if Eligible Inventory has been included in the Borrowing Base pursuant to clause
(b) of this definition above, Eligible Inventory acquired in connection therewith (the “Acquired Eligible Inventory”). From and after the Acquisition Date (as defined below), the Borrowing Base hereunder shall be calculated giving
effect thereto; provided that prior to the occurrence of a Borrowing Base Examination with respect to such Acquired Eligible Accounts and Acquired Eligible Inventory, from the date such Post-Closing Acquisition is consummated (the “Acquisition
Date”) until the date that is 60 days after the Acquisition Date, the aggregate amount of Acquired Eligible Accounts and Acquired Eligible Inventory included in the Borrowing Base prior to the completion of a Borrowing Base Examination with
respect thereto shall not exceed 10% of the Borrowing Base (calculated after giving effect to the inclusion of the Acquired Eligible Accounts and Acquired Eligible Inventory as to which a Borrowing Base Examination has not occurred). From the 61st
day following the Acquisition Date (or such later day as the Administrative Agent may agree) with respect to any applicable Acquired Eligible Accounts and Acquired Eligible Inventory, the Borrowing Base shall be calculated without reference to such
Acquired Eligible Accounts and the Acquired Eligible Inventory until a Borrowing Base Examination has occurred with respect to such assets; it being understood and agreed that (x) no Default or Event of Default shall result from any failure for
a Borrowing Base Examination with respect to Acquired Eligible Accounts or Acquired Eligible Inventory to occur on or prior to the dates indicated above and (y) any such Borrowing Base Examination with respect to Acquired Eligible Accounts or
Acquired Eligible Inventory shall not count toward the limitations on the number of inventory appraisals and field examinations contained in Section 6.06(b).” 
  

	4.	 Effective Date Conditions. This Agreement will become effective on the date (the
“Amendment No. 1 Effective Date”), on which each of the following conditions have been satisfied in accordance with the terms therein: 

 

	 	(a)	 Executed Amendment. The Administrative Agent (or its counsel) shall have received duly executed
counterparts of this Agreement; 

  

	 	(b)	 Representations and Warranties. The representations and warranties of the Borrowers and the other Loan
Parties contained in Article V of the Credit Agreement and in any other Loan Document shall be (i) in the case of representations and warranties qualified by “materiality,” “Material Adverse Effect” or similar language, true
and correct in all respects on the date of hereof and (ii) in the case of all other representations and warranties, true and correct in all material respects, in each case, on and as of the date hereof, in each case, except to the extent that
such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct on the basis set forth above as of such earlier date; 

  
 2 

	 	(c)	 No Default. No Default or Event of Default shall have occurred and be continuing on the Amendment
No. 1 Effective Date immediately after giving effect to this Amendment; and 

  

	 	(d)	 Payment of Fees. The Administrative Agent shall have received all fees and other amounts previously
agreed to in writing by the Arrangers and the Borrower to be due on or prior to the Amendment No. 1 Effective Date, including, to the extent invoiced at least two (2) Business Days prior to the Amendment No. 1 Effective Date (or such
later date as is reasonably agreed by the Borrower), legal fees and expenses and the fees and expenses of any other advisors in accordance with the terms of the Credit Agreement. 

 

	5.	 Representations and Warranties. By its execution of this Agreement, each Loan Party (and solely
in the case of clause (d) below, each Borrower) hereby represents and warrants that: 

  

	 	(a)	 such Loan Party has all requisite corporate or other organizational power and authority to execute, deliver and
perform its obligations under this Agreement; 

  

	 	(b)	 the execution, delivery and performance by such Loan Party of this Agreement (x) have been duly authorized
by all necessary corporate, partnership, limited liability company or other organizational action, and (y) do not and will not (i) contravene the terms of any of such Loan Party’s Organization Documents, (ii) conflict with or
result in any breach or contravention of, or the creation of any Lien (other than Permitted Liens) under, any Contractual Obligation to which such Loan Party is a party or any order, injunction, writ or decree of any Governmental Authority or any
arbitral award to which such Person or its property is subject except in the case of this clause (ii) any such conflict, breach or contravention that would not reasonably be expected individually or in the aggregate to have a Material
Adverse Effect or (iii) violate any Law, except in any case for such violations that would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; 

 

	 	(c)	 this Agreement has been duly executed and delivered by each Loan Party that is party hereto, and this Agreement
constitutes a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is party thereto in accordance with its terms, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency,
examinership, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and (ii) that rights of acceleration and the availability of equitable remedies may be limited by equitable principles of
general applicability (regardless of whether enforcement is sought by proceedings in equity or at law); and 

  

	 	(d)	 both immediately before and after giving effect to the Amendment No. 1 Effective Date, (i) the
representations and warranties of the Borrowers and the other Loan Parties contained in Article V of the Credit Agreement and in any other Loan Document shall be (A) in the case of representations and warranties qualified by
“materiality,” “Material Adverse Effect” or similar language, true and correct in all respects on the date of hereof and (B) in the case of all other representations and warranties, true and correct in all material respects,
in each case, on and as of the date hereof, in each case, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct on the basis set forth above as of such
earlier date and (ii) no Default or Event of Default shall have occurred and be continuing. 

  
 3 

	6.	 Reaffirmation of the Loan Parties; Reference to and Effect on the Credit Agreement and the other Loan
Documents. 

  

	 	(a)	 Each Loan Party hereby consents to the amendment of the Credit Agreement effected hereby and confirms and
agrees that, notwithstanding the effectiveness of this Agreement, each Loan Document to which such Loan Party is a party is, and the obligations of such Loan Party contained in the Credit Agreement, this Agreement or in any other Loan Document to
which it is a party are, and shall continue to be, in full force and effect and are hereby ratified and confirmed in all respects, in each case as amended by this Agreement. For greater certainty and without limiting the foregoing, each Loan Party
hereby confirms that the existing security interests granted by such Loan Party in favor of the Senior Credit Parties pursuant to the Loan Documents in the Collateral described therein shall continue to secure the obligations of the Loan Parties
under the Credit Agreement and the other Loan Documents as and to the extent provided in the Loan Documents. Except as specifically amended by this Agreement, the Credit Agreement and the other Loan Documents shall remain in full force.

  

	 	(b)	 The execution, delivery and performance of this Agreement shall not constitute a waiver of any provision of, or
operate as a waiver of any right, power or remedy of any Agent or Lender under, the Credit Agreement or any of the other Loan Documents. 

  

	 	(c)	 On and after the Amendment No. 1 Effective Date, each reference in the Credit Agreement to “this
Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to the “Credit Agreement”, “thereunder”,
“thereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement as amended by this Agreement. 

 

	7.	 Amendment, Modification and Waiver. This Agreement may not be amended, modified or waived except
as permitted by Section 10.01 of the Credit Agreement. 

  

	8.	 Integration. This Agreement constitute the entire contract among the parties relating to the
subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. This Agreement shall not constitute a novation of any amount owing under the Existing Credit Agreement
and all amounts owing in respect of principal, interest, fees and other amounts pursuant to the Existing Credit Agreement and the other Loan Documents shall, to the extent not paid or exchanged on or prior to the Amendment No. 1 Effective Date,
continue to be owing under the Credit Agreement or such other Loan Documents until paid in accordance therewith. 

  

	9.	 Severability. The provisions of Section 10.12 of the Existing Credit Agreement are hereby
incorporated by reference, mutatis mutandis, as if originally made a part hereof. 

  

	10.	 GOVERNING LAW; JURISDICTION; SERVICE OF PROCESS; WAIVER OF JURY TRIAL. THE PROVISIONS OF SECTION
10.13 OF THE CREDIT AGREEMENT ARE HEREBY INCORPORATED BY REFERENCE, MUTATIS MUTANDIS, AS IF ORIGINALLY MADE A PART HEREOF. 

  
 4 

	11.	 Counterparts. This Agreement may be executed in counterparts (and by different parties hereto in
different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement by telecopier shall be effective
as delivery of a manually executed counterpart of this Agreement. 

  

	12.	 Loan Document. On and after the Amendment No. 1 Effective Date, this Agreement shall
constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents (it being understood that for the avoidance of doubt this Agreement may be amended or waived by the parties hereto solely as set forth in
Section 7 above). 

 [Signature Pages Follow] 

  
 5 

 IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to
execute and deliver this Agreement as of the date first set forth above. 
  

					
	MKS INSTRUMENTS, INC.
		
	By:	 	 /s/ Seth H. Bagshaw

		 	Name:	 	Seth H. Bagshaw
		 	Title:	 	Senior Vice President, Chief Financial
		 		 	Officer and Treasurer
	
	NEWPORT CORPORATION
		
	By:	 	 /s/ Seth H. Bagshaw

		 	Name:	 	Seth H. Bagshaw
		 	Title:	 	President and Treasurer
	
	ELECTRO SCIENTIFIC INDUSTRIES, INC.
		
	By:	 	 /s/ Seth H. Bagshaw

		 	Name:	 	Seth H. Bagshaw
		 	Title:	 	President and Treasurer
	
	ESI INTERNATIONAL CORPORATION
		
	By:	 	 /s/ Seth H. Bagshaw

		 	Name:	 	Seth H. Bagshaw
		 	Title:	 	President and Treasurer

 [Signature Page to First Amendment to ABL Credit Agreement] 

 
					
	ESI CHINA, INC.
		
	By:	 	 /s/ Seth H. Bagshaw

		 	Name:	 	Seth H. Bagshaw
		 	Title:	 	President and Treasurer
	
	ESI LEASING, LLC
		
	By:	 	 /s/ Kathleen F. Burke

		 	Name:	 	Kathleen F. Burke
		 	Title:	 	Manager

 [Signature Page to First Amendment to ABL Credit Agreement] 

 
					
	BARCLAYS BANK PLC, as Administrative Agent and as a Lender
		
	By:	 	 /s/ Komal Ramkirath

		 	Name:	 	Komal Ramkirath
		 	Title:	 	Assistant Vice President

 [Signature Page to First Amendment to ABL Credit Agreement] 

 
					
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	 /s/ Matthew T. O’Keefe

		 	Name:	 	Matthew T. O’Keefe
		 	Title:	 	Senior Vice President

 [Signature Page to First Amendment to
ABL Credit Agreement] 

 
					
	HSBC BANK USA, NATIONAL ASSOCIATION,
	as a Lender
		
	By:	 	 /s/ Manuel Burgueno

		 	Name:	 	Manuel Burgueno
		 	Title:	 	Senior Vice President

 [Signature Page to First Amendment to ABL Credit Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00298-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00298-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00298-of-00352.parquet"}]]