Document:

ex10-9.htm

Exhibit 10.9

 

AMENDMENT TO PROMISSORY NOTE

 

 

On March 27, 2012 Xhibit, LLC, a Nevada limited liability company  now operating under the name of Xhibit Interactive LLC, a Nevada limited liability company, (“Maker”) issued that certain Promissory Note (“Promissory Note”) to  Paul Hrissikopoulos, (“Payee”) in the sum of  Five Hundred Thousand Dollars (US$500,000.00) which is due and payable along with accrued interest on September 27, 2012.

 

For good and valuable consideration paid by Maker and received by Payee, both parties agree to extend the maturity date of the Promissory Note to November 30, 2012.   All other terms and conditions of the Promissory Note shall remain the same.

 

Agreed and accepted as of this 25th day of October 2012 and effective as of September 27, 2012.

 

 

Maker:

 

____________________________

Michael Schifsky, its CFO

Payee:

____________________________

Paul Hrissikopoulosex10-10.htm

Exhibit 10.10

AMENDMENT TO PROMISSORY NOTE

 

 

On May 29, 2012 Xhibit, LLC, a Nevada limited liability company  now operating under the name of Xhibit Interactive LLC, a Nevada limited liability company, (“Maker”) issued that certain Promissory Note (“Promissory Note”) to  Larry Eiteljorg, (“Payee”) in the sum of  Two Hundred Thousand Dollars (US$200,000.00) which is due and payable along with accrued interest on September 30, 2012.

 

For good and valuable consideration paid by Maker and received by Payee, both parties agree to extend the maturity date of the Promissory Note to November 30, 2012.   All other terms and conditions of the Promissory Note shall remain the same.

 

Agreed and accepted as of this 25th day of October 2012 and effective as of September 30, 2012.

 

 

Maker:

 

____________________________

Michael Schifsky, its CFO

Payee:

____________________________

Larry Eiteljorgex10-1.htm

[*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

Exhibit 10.1

 

AMENDMENT NO. 7

TO THE

AMENDED AND RESTATED FOUNDRY AGREEMENT

DATED SEPTEMBER 28, 2006

THIS AMENDMENT NO. 7 (this “Amendment”) to the Amended and Restated Foundry Agreement entered into as of September 28, 2006, and as amended effective June 19, 2008, and as amended a second time effective December 31, 2008, and as amended a third time effective June 15, 2009, and as amended a fourth time effective May 24, 2010, and as amended a fifth time effective January 1, 2011, and as amended a sixth time effective September 1, 2010 (the “Agreement”), by and among Spansion, Inc., a Delaware corporation, Spansion Technology LLC, a Delaware limited liability company, and Spansion LLC, a Delaware limited liability company, solely in their capacities as guarantors of Spansion’s obligations hereunder and under the Agreement (collectively, “Spansion U.S.”), Spansion Japan Limited, a Japanese corporation (“Spansion Japan”), and assigned by Spansion Japan to Nihon Spansion Limited (“Nihon”), effective May 24, 2010, and assigned by Nihon to Nihon Spansion Trading Limited (“PSKK”), effective December 27, 2010, and Fujitsu Limited, a Japanese corporation (“Fujitsu”), and assigned by Fujitsu to Fujitsu Semiconductor Limited, formerly named Fujitsu Microelectronics Limited, a Japanese corporation (“FSL”), effective March 21, 2008, is made and entered into as of July 11, 2012, and effective retroactively on June 30, 2012.

Whereas, PSKK and FSL wish to further amend the Agreement.

Now, therefore, it is agreed that the Agreement shall be modified as follows:

	
  

	
1.

	
The Agreement shall terminate at the end of the second Quarter of 2013.

	
  

	
2.

	
Notwithstanding anything to the contrary set forth in Sections 2.6.1 through 2.6.6 of the Agreement, Exhibit K as previously amended is hereby deleted in its entirety and shall be restated as set forth in Exhibit K attached hereto. Except as otherwise expressly provided in Exhibit K, the Subsequent Period Remedies for the third Quarter of 2012 through the second Quarter of 2013 shall remain as set forth in Sections 2.2 and 2.3 and Exhibit J of the Agreement.

 

  

  

  

 

	
  

	
3.

	
In addition, PSKK will pay an additional amount of [*] per Wafer shipped to PSKK.  FSL will invoice PSKK on a monthly basis for such incremental costs for those Wafers shipped and invoiced to PSKK.  PSKK will pay FSL this amount pursuant to the payment terms of the Agreement, provided that, notwithstanding Section 9 of the Agreement, any payment by PSKK under this Section will be made in USD. The additional incremental costs will not exceed [*].  If FSL does not recover this amount ([*]) by the end of June 2013 based on the number of Wafers shipped, FSL will invoice PSKK for the difference between such amount ([*]) and the amount of the additional incremental costs actually received from PSKK by the end of June 2013, and PSKK will pay FSL such difference in USD pursuant to the payment terms of the Agreement.

	
  

	
4.

	
PSKK will provide the final mix of its Wafer requirement for the second Quarter of 2013 to FSL by February 15, 2013 and will place a final purchase order for Wafers with FSL on or before March 15, 2013, subject to Section 7 of the Agreement.

	
  

	
5.

	
All terms and conditions of the Agreement not specifically modified by this Amendment shall remain unchanged and in full force and effect.

	
  

	
6.

	
This Amendment shall be deemed a part of and construed in accordance with the Agreement. This Amendment may be executed in counterparts.

Remainder of page intentionally left blank.

 

2

[*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

  

 

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

FUJITSU SEMICONDUCTOR LIMITED

By:       /s/ Makoto Goto

Name: Makoto Goto

Title: CSVP & CFO                         

SPANSION INC.

By:     /s/ Randy W. Furr

Name: Randy W. Furr

Title: EVP & CFO

SPANSION TECHNOLOGY LLC

By:       /s/ Randy W. Furr

Name: Randy W. Furr

Title: Chief Financial Officer

SPANSION LLC

By:       /s/ Randy W. Furr

Name: Randy W. Furr

Title: EVP & CFO

NIHON SPANSION TRADING LIMITED

By:       /s/ Carmine R. Renzulli

Name: Carmine R. Renzulli

Title: Representative Director

 

 

3

[*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

  

 

EXHIBIT K

 

Subsequent Period Commitment and Subsequent Period Price for the third and fourth Quarters of 2012 and the first and second Quarters of 2013

 

 

	  	
Q3 2012

	
Q4 2012

	
Q1 2013

	
Q2 2013

	
Wafers per Quarter

	
9,000

	
9,000

	
9,000

	
9,000

	
Price per Wafer (Japan¥)

	
55,000

	
55,000

	
55,000

	
55,000

 

Notwithstanding anything to the contrary set forth in Sections 2.2 and Exhibit J of the Agreement, if, for any Quarter above, PSKK fails to purchase hereunder the minimum number of Wafers for that Quarter as set forth above (the “Minimum Purchase Commitment”), then PSKK shall pay FSL an amount equal to the product obtained by multiplying (i) the average Wafer Price in effect for that Quarter, by (ii) the difference between (x) the Minimum Purchase Commitment, and (y) the number of Wafers actually purchased by PSKK hereunder during that Quarter.  PSKK shall not be obligated to make any payment to FSL pursuant to this section with respect to any Quarter above in which FSL fails to make available to PSKK manufacturing capacity sufficient to permit PSKK to satisfy the Minimum Purchase Commitment for that Quarter.

 

Notwithstanding anything to the contrary set forth in Sections 2.3 of the Agreement, if, for any Quarter above, (a) PSKK has submitted a Wafer Demand Plan (as defined in Section 5.2 of the Agreement) for Wafers to be manufactured and delivered during that Quarter in accordance with Section 5.2 of the Agreement and in an amount that equals or exceeds the Minimum Purchase Commitment for that Quarter, and (b) FSL fails to make available to PSKK the Minimum Purchase Commitment, then FSL shall pay PSKK an amount equal to the product obtained by multiplying (i) the average Wafer Price in effect for that Quarter, by (ii) the difference between (x) the Minimum Purchase Commitment, and (y) the number of Wafers actually manufactured by FSL for PSKK hereunder during that Quarter.

 

4

[*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.ex10-2.htm

[*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

Exhibit 10.2

 

AMENDMENT NO. 8 TO

THE AMENDED AND RESTATED FUJITSU DISTRIBUTION AGREEMENT DATED DECEMBER 21, 2005

This AMENDMENT NO. 8 (this “Amendment No. 8” ) to the Amended and Restated Fujitsu Distribution Agreement dated December 21, 2005, as amended effective as of October 1, 2007, September 30, 2008, January 15, 2009, February 23, 2009, April 23, 2009, June 25, 2009, and October 30, 2009, originally entered into between Spansion Inc., a Delaware corporation  (“Spansion”), and Fujitsu Limited, a Japanese corporation (“Fujitsu”), and succeeded to by Fujitsu Semiconductor Limited, formerly named Fujitsu Microelectronics Limited, a Japanese corporation (“FSL”), effective as of March 21, 2008 (the “Agreement”), is entered into as of the dates set forth below and effective as of August 1, 2012.

Whereas, Spansion and FSL wish to further modify the Agreement, it is agreed that the Agreement shall be amended as follows:

1.             Section 2.3.6 of the Agreement shall be added to the Agreement as follows:

“2.3.6    FSL Subsidiaries.   Fujitsu Semiconductor Korea, Ltd. (“FSK”), Fujitsu Semiconductor Pacific Asia, Ltd. (“FSP”), Fujitsu Semiconductor (Shanghai) Co., Ltd. (“FSS”) and Fujitsu Semiconductor Asia Pte., Ltd. (“FSAL”) shall have the same rights to purchase, market, sell and otherwise distribute Products under this Agreement as held by FSL, subject to all applicable terms and conditions of this Agreement, provided that FSK, FSP, FSS and FSAL will purchase Products from an  applicable Spansion Subsidiary(ies) as separately confirmed between Spansion and FSL, and Spansion will cause such Spansion Subsidiary to comply with the terms and conditions of the Agreement in connection with such Products purchased by FSK, FSP, FSS and FSAL.”

2.             Section 12.3 of the Agreement shall be deleted in its entirety and replaced with the following:

“12.3           Purchase Price of Spansion Content Only Products.  The Purchase Price for each SCO Product shall be equal to the following:

(a)           For direct Product sales by FEI to Customers (excluding sales by Fujitsu Device, Inc. (“FDI”), which are not subject to the distribution margins described in this Section 12.3):

	
  

	
·

	
For the period beginning Q2 of 2012 and continuing through the end of Q1 of 2013: [*] at the time the order was booked;

	
  

	
·

	
For the period beginning Q2 of 2013 and continuing through the end of Q1 of 2014: [*] at the time the order was booked;

	
  

	
·

	
For the period beginning Q2 of 2014 and continuing through the end of Q4 of 2016: [*] at the time the order was booked.

(b)           For Product sales by FEI to Channel Partners: [*] at the time the order was booked.

(c)           For direct Product sales by FSK, FSP, FSS and FSAL to Customers, for the period beginning Q3 of 2012: [*] at the time the order was booked.

Additionally, the Purchase Price for each SCO Product is subject to the following adjustments:

 

  

  

  

 

12.3.1  Price Increase.  In the event FEI, FSK, FSP, FSS, or FSAL sell an SCO Product to a Customer or Channel Partner in an amount that is in excess of the RSP for such Product at the time the order was booked, the Purchase Price shall be automatically increased to an amount equal to the applicable percentage, above, of the actual sales price of such Product.

12.3.2  Price Decrease.  In the event FEI, FSK, FSP, FSS, or FSAL sell an SCO Product to a Customer or Channel Partner in an amount that is less than the RSP for such Product at the time the order was booked, FEI, FSK, FSP, FSS and FSAL may request that Spansion reduce the Purchase Price.  In such case, Spansion may, but shall have no obligation to, reduce the Purchase Price to an amount that it determines in its sole discretion.

12.3.3  Margin Adjustment.

(a)           Direct Product sales by FEI to Customers.  Spansion and FSL agree to work in good faith to reduce the distribution margin as reflected in this Section 12.3 for direct Product sales by FEI to Customers from [*] to [*] according to a schedule to be agreed upon by Spansion and FSL, targeted to achieve such reduction in [*].  The parties understand and agree, however, that:

(i) such a reduction will not be possible until FEI’s direct Product sales to Customers (excluding sales by Fujitsu Device, Inc. (“FDI”), which are not subject to the distribution margins described in this Section 12.3) total the FEI direct sales target amount listed in Schedule 12.3 attached hereto (the “Customer Incentive Target”); and

(b)           Product sales by FEI to Channel Partners.  Spansion and FSL agree to work in good faith to reduce the distribution margin as reflected in this Section 12.3 for Product sales by FEI to Channel Partners to [*] according to a schedule to be agreed upon by Spansion and FSL, targeted to achieve such reduction in [*].  The parties understand and agree, however, that:

(i) such a reduction will not be possible until FEI’s Product sales to Channel Partners total the FEI Channel Partner sales target amount listed in Schedule 12.3 attached hereto (the “Channel Partner Incentive Target”); and

(c)           Direct Product sales by FSK, FSP, FSS, and FSAL to Customers.  Spansion and FSL agree to work in good faith to reduce the distribution margin as reflected in this Section 12.3 for direct Product sales by FSK, FSP, FSS, and FSAL to Customers to [*] according to a schedule to be agreed upon by Spansion and FSL, targeted to achieve such reduction in [*].  The parties understand and agree, however that:

 (i) such a reduction will not be possible until FSK’s, FSP’s, FSS’s, and FSAL’s direct Product sales to Customers total the Korea/Asia direct sales target amount listed in Schedule 12.3 attached hereto (the “Korea/Asia Incentive Target”); and

(d)           Spansion and FSL agree to meet semi-annually to review sales performance, growth strategy, and applicable margin(s) (the “Business Plan”), and use best efforts to adjust the Business Plan as necessary in order to achieve the Customer Incentive Target, the Channel Partner Incentive Target, and the Korea/Asia Incentive Target.”

3.           Notwithstanding Section 2.2 (Sales and Appointment of Other Distributors by Spansion) of the Agreement, Spansion and FSL agree that FEI will be able to maintain and use the following Channel Partners for the following time periods:

	
  

	
·

	
Tokyo Electron Device Limited: through 3Q of 2013

	
  

	
·

	
Mitsuiwa Corporation: through 2Q of 2014

	
  

	
·

	
Tsuzuki Denki Co., Ltd.: through 4Q of 2014

 

2

[*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

  

 

All terms and conditions of the Agreement not specifically amended by this Amendment No. 8 shall remain unchanged and continue in full force and effect.

Spansion Inc.                                                                           Fujitsu Semiconductor Limited

 

 

/s/ Jay Legenhausen                                                                                                                                             /s/ Makoto Goto                           

 

Name:  Jay Legenhausen                                                                                                                      Name: Makoto Goto                                      

 

           Senior Vice President

Title:  Worldwide Sales                                                                                                                         Title:  CSVP & CFO                                      

 

Date:  __8/1/2012__________________                                                                                       Date:  __8/1/2012                                            

 

 

3

[*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

  

 

 

 

 

SCHEDULE 12.3

 

INCENTIVE TARGETS

 

FEI Direct Sales:

 

	 	 	 	 	 	 	

(USD million)

	  	  	
CY2012

	
CY2013

	
CY2014

	
CY2015

	
CY2016

	
Total

	
FEI Direct Sales

	
[*]

	
[*]

	
[*]

	
[*]

	
[*]

	
[*]

 

FEI Channel Partner Sales:

 

	 	 	 	 	 	 	

(USD million)

	  	  	
CY2012

	
CY2013

	
CY2014

	
CY2015

	
CY2016

	
Total

	
FEI Channel Partner

	
[*]

	
[*]

	
[*]

	
[*]

	
[*]

	
[*]

 

Korea/Asia Direct Sales:

 

	 	 	 	 	 	 	

(USD million)

	  	  	
CY2012

	
CY2013

	
CY2014

	
CY2015

	
CY2016

	
Total

	
Korea

	  	
[*]

	
[*]

	
[*]

	
[*]

	
[*]

	
[*]

	
Asia

	  	
[*]

	
[*]

	
[*]

	
[*]

	
[*]

	
[*]

 

4

[*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portions.

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