Document:

Exhibit 10.1

 

SHARE
EXCHANGE AGREEMENT

 

This
SHARE EXCHANGE AGREEMENT (the “Agreement”) is entered into as of April 21, 2017 by and among Meridian Waste Solutions,
Inc., a New York corporation (the “Company” or “Meridian”); Mobile Science Technologies, Inc., a Georgia
corporation (“MSTI”) and the shareholders of MSTI excluding the Company (each, a “Selling Shareholder”
and, collectively, the “Selling Shareholders” and, together with the Company and MSTI, the “Parties” and
each, a “Party”).

 

WHEREAS,
there are currently 33,333,333 shares of common stock of MSTI issued and outstanding, of which 5,000,000 shares are owned by the
Company and 28,333,333 shares are owned by the Selling Shareholders (the “Exchange Shares”);

 

WHEREAS,
the Selling Shareholders believe that it is in their best interests to exchange (the “Exchange”) all of the Exchange
Shares for the Meridian Stock (as defined herein);

 

WHEREAS, the Company
believes it is in its best interests and that of its shareholders to issue the Meridian Stock in exchange for the issuance of the
Exchange Shares, all upon the terms and subject to the conditions set forth in this Agreement; and

 

WHEREAS,
it is the intention of the Parties that the Exchange qualify as a tax-free organization under Section 368(a)(1)(B) of the United
States Internal Revenue Code of 1986, as amended, and a transaction in securities exempt from registration or qualification under
the Securities Act of 1933, as amended (the “Securities Act”).

 

NOW
THEREFORE, on the stated premises and for and in consideration of the mutual covenants and agreements hereinafter set forth
and the mutual benefits to the Parties to be derived herefrom, and intending to be legally bound hereby, the Parties hereby agree
as follows:

 

ARTICLE
I 

 

SHARE
EXCHANGE

 

Section
1.01    Incorporation of Recitals. The recitals set forth hereinabove are incorporated herein by
reference with the same force and effect as if fully set forth hereinafter.

 

Section
1.02    The Exchange.

 

(a)          On the terms and subject to the conditions set forth in this Agreement, the Selling Shareholders shall assign, transfer
and deliver, free and clear of all liens, all of the Exchange Shares to the Company, in exchange for the issuance of that certain
number of shares of common stock of the Company, par value $0.025 per share, such that at the Closing (as defined below) of the
Agreement, MSTI shall be a wholly owned subsidiary of the Company.

 

    1

     

    

 

(b)         Pursuant
to the Exchange, the Company shall issue to the Selling Shareholders pro-rata in accordance with their ownership in MSTI 1,083,017
shares of restricted common stock of the Company (the “Meridian Stock”) valued at $2.90 per share, in accordance with
the following schedule: (i) on the Closing Date (as defined below) 403,865 shares of Meridian Stock will be issued in accordance
with Schedule I attached hereto; and (ii) the remaining 679,153 shares of Meridian Stock will be issued as follows: (a)
upon revenues attributable to the business of MSTI reaching $150,000, 226,384 shares of Meridian Stock will be issued in accordance
with Schedule I; (b) upon revenues attributable to the business of MSTI reaching $300,000, an additional 226,384 shares
of Meridian Stock will be issued in accordance with Schedule I; and (c) upon revenues attributable to the business of MSTI
reaching $500,000, the final 226,384 shares of Meridian Stock will be issued in accordance with Schedule I; provided, however,
in the event that any shares of Meridian Stock have not been issued prior to the one-year anniversary of the Closing Date due
to failure to meet the foregoing milestones, or for any other reason, such remaining shares of Meridian Stock will be issued as
is necessary to reflect the issuance totals set forth in Schedule I.

 

Section
1.03  Assignment and Assumption of Liabilities. Upon Closing (as defined below), all financial
and contractual obligations and liabilities of MSTI incurred prior to and due as of or after the date hereof shall be
assigned to and assumed by the Company.

 

Section
1.04  Closing. The closing (the “Closing”) of the transactions contemplated
by this Agreement (the “Transactions”) shall take place on such date that all conditions precedent and obligations
of the Parties to consummate such Transactions contemplated hereby are satisfied or waived, at such location to be determined
by the Company or such other date and time as the Parties may mutually determine (the “Closing Date”).

 

ARTICLE
II

 

REPRESENTATIONS AND WARRANTIES
OF MSTI 

 

MSTI
represents and warrants to the Company that, as of the date hereof, except for those representations and warranties that speak
of a different date:

 

Section
2.01.   Organization, Standing and Corporate Power. MSTI is a limited liability company duly organized, validly existing
and in good standing under the laws of the State of Georgia and has the requisite organizational power and authority to carry
on its business as now being conducted. MSTI is duly qualified or licensed to do business and is in good standing in each jurisdiction
in which the nature of its business or the ownership or leasing of its properties makes such qualification or licensing necessary,
other than in such jurisdictions where the failure to be so qualified or licensed (individually or in the aggregate) would not
have a Material Adverse Effect. As used herein the term “Material Adverse Effect” or “Material Adverse Change”
shall mean any change or effect that either individually or in the aggregate with all other such changes or effects is materially
adverse to the business, assets, properties, condition (financial or otherwise) or results of operations of the Parties taken
as a whole.

 

Section
2.02     Subsidiaries. As of the date hereof, MSTI has no subsidiaries.

 

Section
2.03    Capital Structure. The issued and outstanding equity of MSTI consists of 33,333,333 shares of common stock
that are held by 14 shareholders as listed on the Company’s books and records and set forth on Schedule I attached
hereto. MSTI has no other securities of any nature issued, reserved for issuance or outstanding. The Exchange Shares are duly
authorized, validly issued, fully paid and non-assessable and not subject to preemptive rights.

 

    2

     

    

 

Section
2.04    Authorization, Enforceability, Non-Contravention. MSTI has the requisite power and authority to enter into
this Agreement and to consummate the Exchange. The execution and delivery of this Agreement by MSTI and the consummation by MSTI
of the transactions contemplated hereby have been duly authorized by all necessary company action on the part of MSTI. This Agreement
has been duly executed and delivered by MSTI and constitutes a valid and binding obligation of MSTI, enforceable against MSTI
in accordance with its terms. The execution and delivery of this Agreement does not, and the consummation of the transactions
contemplated by this Agreement and compliance with the provisions hereof will not, conflict with, or result in any breach or violation
of, or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation
or acceleration of or “put” right with respect to any obligation or to loss of a material benefit under, or result
in the creation of any material lien upon any of the properties or assets of MSTI. The execution and delivery of this Agreement,
and the consummation of the transactions contemplated hereby have been duly authorized by all necessary company action, including
action by the Selling Shareholders, as required by applicable law and this Agreement has been duly executed by authorized signatories;

 

Section
2.05    Books and Records. The minute books and other similar records of MSTI contain complete
and accurate records of all actions taken at any meetings of MSTI, board of managers or any committee thereof and of all written
consents executed in lieu of the holding of any such meeting. The books and records of MSTI, as previously made available to the
Company, accurately reflect the assets, liabilities, business, financial condition and results of operations of MSTI and have
been maintained in accordance with good business and bookkeeping practices.

 

Section
2.06    Permits. MSTI has each license, franchise, permit, certificate, approval or other similar
authorization required in connection with the conduct of, or otherwise affecting or relating in any way to, the business (the
“Permits”). The Permits are valid and in full force and effect; MSTI is not in default, and no condition exists that
with notice or lapse of time could constitute a default, under the Permits; no proceedings are pending or threatened to revoke
or amend any Permit; the Permits are freely assignable; and none of the Permits shall be terminated or impaired or become terminable,
in whole or in part, as a result of the transactions contemplated by this Agreement; and

 

Section
2.07    Litigation; Labor Matters; Compliance with Laws.

 

(i)          To the actual knowledge of MSTI, there is no suit, action or proceeding or investigation pending or threatened against or affecting
MSTI or any basis for any such suit, action, proceeding or investigation that, individually or in the aggregate, could reasonably
be expected to have a Material Adverse Effect or prevent, hinder or materially delay the ability of MSTI to consummate the transactions
contemplated by this Agreement, nor is there any judgment, decree, injunction, rule or order of any governmental entity or arbitrator
outstanding against MSTI having, or which, insofar as reasonably could be foreseen by MSTI, in the future could have, a Material
Adverse Effect.

 

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(ii)          To its actual knowledge, the conduct of the business of MSTI complies with all statutes, laws, regulations, ordinances, rules,
judgments, orders, decrees or arbitration awards applicable thereto.

 

Section
2.08    Absence of Certain Changes or Events. MSTI has conducted its business only in the ordinary course consistent
with past practice in light of its current business circumstances, and there is not and has not been: (i) any Material Adverse
Change with respect to MSTI; (ii) any condition, event or occurrence which, individually or in the aggregate, could reasonably
be expected to have a Material Adverse Effect or give rise to a Material Adverse Change with respect to MSTI; (iii) any condition,
event or occurrence which could reasonably be expected to prevent, hinder or materially delay the ability of MSTI to consummate
the transactions contemplated by this Agreement.

 

Section
2.09    Tax Returns and Tax Payments. MSTI has timely filed all tax returns required to be filed by it, have paid all
taxes shown thereon to be due and have provided adequate reserves in their financial statements for any taxes that have not been
paid, whether or not shown as being due on any returns. No material claims for unpaid taxes have been made or have become a material
lien against the property of MSTI or is being asserted against MSTI, no audit of any tax return of MSTI is being conducted by
a tax authority, and no extension of the statute of limitations on the assessment of any taxes has been granted by MSTI and is
currently in effect.

 

Section
2.10    Environmental Matters. To the actual knowledge of MSTI, MSTI is in compliance with all applicable Environmental
Laws except for such violation thereof would not have a Material Adverse Effect. “Environmental Laws” means all applicable
federal, state and local statutes, rules, regulations, ordinances, orders, decrees and common law relating in any manner to contamination,
pollution or protection of human health or the environment, and similar state laws.

 

Section
2.11    Material Contract Defaults. MSTI is not, or has not, received any notice or have any knowledge that any other
party is, in default in any respect under any Material Contract; and there has not occurred any event that with the lapse of time
or the giving of notice or both would constitute such a material default. For purposes of this Agreement, a “Material Contract”
means any contract, agreement or commitment that is effective as of the Closing Date to which MSTI is a party (i) with expected
receipts or expenditures in excess of $100,000, (ii) requiring MSTI to indemnify any Person, (iii) granting exclusive rights to
any party, (iv) evidencing indebtedness for borrowed or loaned money in excess of $100,000 or more, including guarantees of such
indebtedness, or (v) which, if breached by MSTI in such a manner would (A) permit any other party to cancel or terminate the same
(with or without notice of passage of time) or (B) provide a basis for any other party to claim money damages (either individually
or in the aggregate with all other such claims under that contract) from MSTI or (C) give rise to a right of acceleration of any
material obligation or loss of any material benefit under any such contract, agreement or commitment.

 

Section
2.12    Properties. MSTI has good, clear and marketable titles to all the tangible properties and tangible
assets owned by MSTI or acquired after the date thereof which are, individually or in the aggregate, material to MSTI’s
business (except properties sold or otherwise disposed of since the date thereof in the ordinary course of business), free and
clear of all liens.

 

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Section
2.13    Trademarks and Related Contracts.

 

(i)          Except as disclosed in this Agreement, MSTI (i) owns or has the right to use, free and clear of all material liens, claims and
restrictions, all patents, trademarks, service marks, trade names, copyrights, licenses and rights with respect to the foregoing
used in or necessary for the conduct of its business as now conducted or proposed to be conducted without infringing upon or otherwise
acting adversely to the right or claimed right of any Person under or with respect to any of the foregoing and (ii) is not obligated
or under any liability to make any payments by way of royalties, fees or otherwise to any owner or licensor of, or other claimant
to, any patent, trademark, service mark, trade name, copyright or other intangible asset, with respect to the use thereof or in
connection with the conduct of its business or otherwise.

  

(ii)          MSTI owns and has the unrestricted right to use all trade secrets, if any, including know-how, negative know-how, formulas, patterns,
programs, devices, methods, techniques, inventions, designs, processes, computer programs and technical data and all information
that derives independent economic value, actual or potential, from not being generally known by competitors (collectively, “intellectual
property”) required for or incident to the development, operation and sale of all products and services sold by MSTI, free
and clear of any right, lien or claim of others; provided, however, the possibility exists that other
Persons, completely independent of MSTI or its employees or agents, could have developed intellectual property similar or identical
to that of MSTI. Except as disclosed in the Agreement, MSTI is not aware of any such development of substantially identical trade
secrets or technical information by others.

 

Section
2.14    Certain Employee Payments. MSTI is not party to any employment agreement which could result in the payment
to any current, former or future director or employee of MSTI of any money or other property or rights or accelerate or provide
any other rights or benefits to any such employee or director as a result of the transactions contemplated by this Agreement,
whether or not (i) such payment, acceleration or provision would constitute a “parachute payment” (within the meaning
of Section 280G of the Code), or (ii) some other subsequent action or event would be required to cause such payment, acceleration
or provision to be triggered.

  

Section
2.15    Undisclosed Liabilities. To its actual knowledge, MSTI does not have any liability (whether known or unknown,
whether absolute or contingent, whether liquidated or unliquidated and whether due or to become due), except for those liabilities
which arise under (a) liabilities shown on the Financial Statements (as defined below) (b) liabilities which have arisen since
the date of the Financial Statements in the ordinary course of business which do not exceed $5,000.00 in the aggregate and (c)
contractual and other liabilities incurred in the ordinary course of business which are not required by GAAP to be reflected on
a balance sheet.

 

Section
2.16    Powers of Attorney. There are no outstanding powers of attorney executed on behalf of MSTI.

 

    5

     

    

  

Section
2.17    Certain Business Relationships with Affiliates. No Affiliate (as defined below) of MSTI (a) owns any property
or right, tangible or intangible, which is used in the business of MSTI, (b) has any claim or cause of action against MSTI, or
(c) owes any money to, or is owed any money by MSTI. As used herein, the term Affiliate means, with respect to any Person, any
other Person directly or indirectly controlling, controlled by, or under common control with such Person. For purposes of this
definition, “control,” when used with respect to any specified person, means the power to direct or cause the direction
of the management and policies of such Person, directly or indirectly, whether through ownership of voting securities or by contract
or otherwise, and the terms “controlling” and “controlled by” have correlative meanings to the foregoing.

 

Section
2.18    Financial Information. Financial statements of MSTI (collectively, the “Financial Statements”)
have been delivered to Meridian. To the actual knowledge of MSTI, the Financial Statements were prepared in accordance with GAAP,
are true and correct in all material respects as of the respective dates thereof and for the periods referred to therein and are
consistent with the books and records of MSTI, which books and records are complete, and accurate.

 

The
term “actual knowledge,” as used herein shall mean the actual current knowledge, without any duty of investigation
or inquiry.

 

ARTICLE
III 

 

Representations
and Warranties of 

The
Selling SHAREHOLDERS

 

The
Selling Shareholders represent and warrant to the Company that, as of the date hereof, except for those representations and warranties
that speak of a different date:

 

Section
3.01    Good Title. The Selling Shareholders are the record and beneficial owners,
and have good title to, the Exchange Shares, with the full right and authority to sell and deliver such Exchange Shares, free
and clear of any and all liens, encumbrances, pledges, security interests, claims, charges, options, rights of first refusal,
proxies, voting trusts, or agreements, transfer restrictions under any equity holder or similar agreement or any other restriction
or limitation whatsoever, including any contract granting any of the foregoing (collectively, the “Title Liens”),
to the Company pursuant to the Exchange. The Company, as the new owner of the Exchange Shares, will receive good title to the
Exchange Shares, free and clear of all Title Liens.

 

Section
3.02    Power; Enforceability. The Selling Shareholders are of majority age and
have the legal capacity to execute and deliver this Agreement and consummate the transactions contemplated hereby, and to perform
their obligations under this Agreement. This Agreement constitutes a legal, valid, and binding obligation of the Selling Shareholders,
enforceable against the Selling Shareholders in accordance with its terms, except as may be limited by bankruptcy, moratorium
or other similar laws affecting the enforcement of creditors’ rights generally, or principles of equity.

 

    6

     

    

 

Section
3.03    No Conflicts. The execution and delivery of this Agreement by the Selling
Shareholders and the performance by the Selling Shareholders of their obligations hereunder in accordance with the terms hereof
(i) will not require the consent of any third party or governmental entity under any laws, (ii) will not violate any laws applicable
to the Selling Shareholders or the Exchange Shares and (iii) will not violate or breach any contractual obligation to which the
Selling Shareholders are a party or under which the Exchange Shares are bound.

 

Section
3.04    Acquisition of the Meridian Stock for Investment.

 

(a)         Purchase Entirely for Own Account. The Exchange Shares proposed to be acquired by the Selling Shareholders hereunder will
be acquired for investment for the Selling Shareholders’ own account and not as a nominee or agent, and not with a view
to the resale or distribution of any part thereof, and the Selling Shareholders have no present intention of selling, granting
any participation in or otherwise distributing the Meridian Stock, except in compliance with applicable securities laws. The Selling
Shareholders further represent that they do not have any contract, undertaking, agreement or arrangement with any Person to sell,
transfer or grant participation to such Person with respect to the Meridian Stock. For purposes of this Agreement, “Person”
means any individual, partnership, corporation, association, joint stock company, trust, joint venture, unincorporated organization
or governmental entity (or any department, agency or political subdivision thereof) or other entity.

 

(b)         The Selling Shareholders (i) can bear the economic risk of their investment and (ii) possesses such knowledge and experience in
financial and business matters that they are capable of evaluating the merits and risks of their investment in the Company and
its securities.

 

(c)         The Selling Shareholders understand that the Meridian Stock is not registered under the Securities Act and that the issuance hereof
to the Selling Shareholders are intended to be exempt from registration under the Securities Act pursuant to Regulation D promulgated
thereunder (“Regulation D”). The Selling Shareholders are “accredited investors,” as such term is defined
in Rule 501 of Regulation D or, if not an accredited investor, otherwise meets the suitability requirements of Regulation D and
Section 4(a)(2) of the Securities Act. The certificates representing the Meridian Stock issued to the Selling Shareholders shall
be endorsed with the following legends, in addition to any other legend required to be placed thereon by applicable Securities
Laws (as defined herein):

 

 

“THIS
SECURITY HAS BEEN ACQUIRED FOR INVESTMENT AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT of
1933, AS AMENDED (“SECURITIES ACT”), OR APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS.”

 

“TRANSFER
OF THESE SECURITIES IS PROHIBITED UNLESS A REGISTRATION STATEMENT UNDER THE SECURITIES ACT WITH RESPECT TO SUCH SECURITY SHALL
THEN BE IN EFFECT AND SUCH TRANSFER HAS BEEN QUALIFIED UNDER ALL APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS, OR
AN EXEMPTION THEREFROM SHALL BE AVAILABLE UNDER THE ACT AND SUCH LAWS.”

 

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(d)         The Selling Shareholders acknowledge that neither the Securities and Exchange Commission, nor the securities regulatory body of
any state or other jurisdiction, has received, considered or passed upon the accuracy or adequacy of the information and representations
made in this Agreement.

 

(e)         The Selling Shareholders acknowledge that they have carefully reviewed such information as they have deemed necessary to evaluate
an investment in the Company and its securities. To the full satisfaction of the Selling Shareholders, they have been furnished
all materials that they have requested relating to the Company and the issuance of the Meridian Stock hereunder. Notwithstanding
the foregoing, nothing herein shall derogate from or otherwise modify the representations and warranties of the Company set forth
in this Agreement, on which the Selling Shareholders have relied in making an exchange of the Exchange Shares for the Meridian
Stock.

 

(f)          The Selling Shareholders understand that the Meridian Stock may not be sold, transferred, or otherwise disposed of without registration
under the Securities Act or an exemption therefrom, and that in the absence of an effective registration statement covering the
Meridian Stock or any available exemption from registration under the Securities Act, the Meridian Stock may have to be held indefinitely
and the Selling Shareholders further acknowledge that the Meridian Stock may not be sold pursuant to Rule 144 promulgated under
the Securities Act unless all of the conditions of Rule 144 are satisfied, including, without limitation, the Company’s
compliance with the reporting requirements under the Exchange Act.

 

Section
3.05    Additional Legend; Consent. Additionally, the Meridian Stock will bear any
legend required by the “blue sky” laws of any state to the extent such laws are applicable to the securities represented
by the certificate so legended and the Selling Shareholders consent to the Company making a notation on its records or giving
instructions to any transfer agent of the Meridian Stock in order to implement the restrictions on transfer of the Meridian Stock.

 

ARTICLE
IV

REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

 

The
Company represents and warrants to MSTI and the Selling Shareholders that, as of the date hereof, except for those representations
and warranties that speak of a different date:

 

Section
4.01    Organization, Standing and Corporate Power of the Company. The Company is duly incorporated, validly existing and
in good standing under the laws of the State of Georgia and has the requisite corporate power and authority to carry on its business
as now being conducted. The Company is duly qualified or licensed to do business and is in good standing in each jurisdiction
in which the nature of its business or the ownership or leasing of its properties makes such qualification or licensing necessary,
other than in such jurisdictions where the failure to be so qualified or licensed (individually or in the aggregate) would not
have a Material Adverse Effect with respect to the Company.

 

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Section
4.02    Capital Structure. The authorized capital stock of the Company consists of (i) 75,000,000 shares of common
stock, $0.025 par value, of which 6,944,244 shares are issued and outstanding as of the date hereof, (ii) 5,000,000 shares of
preferred stock, $0.01 par value, of which (a) 51 shares of Series A Preferred Stock authorized of which 51 shares of Series A
Preferred Stock are issued and outstanding; (b) 71,120 shares of Series B Preferred Stock authorized of which 0 shares of Series
B Preferred Stock are issued and outstanding; (c) 67,361 shares of Series C Preferred Stock authorized of which 0 shares of Series
C Preferred Stock are issued and outstanding; and (d) 4,861,468 shares of undesignated “blank check” preferred stock.
There are no outstanding bonds, debentures, notes or other indebtedness or other securities of the Company having the right to
vote (or convertible into, or exchangeable for, securities having the right to vote) on any matters on which shareholders of the
Company may vote. Except as disclosed in the Company’s pubic securities filings, there are no outstanding securities, options,
warrants, calls, rights, commitments, agreements, arrangements or undertakings of any kind to which the Company is a party or
by which it is bound obligating the Company to issue, deliver or sell, or cause to be issued, delivered or sold, additional common
stock of the Company or other equity or voting securities of the Company or obligating the Company to issue, grant, extend or
enter into any such security, option, warrant, call, right, commitment, agreement, arrangement or undertaking.  There
are no outstanding contractual obligations, commitments, understandings or arrangements of the Company to repurchase, redeem or
otherwise acquire or make any payment in respect of any common stock of the Company or any other securities of the Company. There
are no agreements or arrangements pursuant to which the Company is or could be required to register the Company’s common
stock or other securities under the Securities Act or other agreements or arrangements with or among any holders of the Company
or with respect to any securities of the Company.

 

Section
4.03    Authority; Non-Contravention. The Company has all requisite authority to enter into this Agreement and to consummate
the transactions contemplated by this Agreement. The execution and delivery of this Agreement by the Company and the consummation
by the Company of the transactions contemplated by this Agreement have been (or at Closing will have been) duly authorized by
all necessary corporate action on the part of the Company. This Agreement has been duly executed and delivered by and constitutes
a valid and binding obligation of the Company, enforceable in accordance with its terms. The execution and delivery of this Agreement
does not, and the consummation of the transactions contemplated by this Agreement and compliance with the provisions of this Agreement
will not, conflict with, or result in any breach or violation of, or default (with or without notice or lapse of time, or both)
under, or give rise to a right of termination, cancellation or acceleration of or “put” right with respect to any
obligation or to loss of a material benefit under, or result in the creation of any lien upon any of the properties or assets
of the Company under, (i) the Articles of Incorporation or bylaws of the Company, (ii) any loan or credit agreement, note, bond,
mortgage, indenture, lease or other agreement, instrument, permit, concession, franchise or license applicable to the Company
or their respective properties or assets, or (iii) subject to the governmental filings and other matters referred to in the following
sentence, any judgment, order, decree, statute, law, ordinance, rule, regulation or arbitration award applicable to the Company
or their respective properties or assets, other than, in the case of clauses (ii) and (iii), any such conflicts, breaches, violations,
defaults, rights, losses or liens that individually or in the aggregate could not have a Material Adverse Effect with respect
to the Company or could not prevent, hinder or materially delay the ability of the Company to consummate the transactions contemplated
by this Agreement. No consent, approval, order or authorization of, or registration, declaration or filing with, or notice to,
any governmental entity is required by or with respect to the Company in connection with the execution and delivery of this Agreement
by the Company or the consummation by the Company, as the case may be, of any of the transactions contemplated by this Agreement,
except, as required, such other consents, approvals, orders, authorizations, registrations, declarations, filings or notices as
may be required under the “blue sky” laws of various states.

 

    9

     

    

 

Section
4.04     Litigation; Labor Matters; Compliance with Laws.

 

(i)
There is no suit, action or proceeding or investigation pending or threatened against or affecting the Company or any basis for
any such suit, action, proceeding or investigation that, individually or in the aggregate, could reasonably be expected to have
a Material Adverse Effect with respect to the Company or prevent, hinder or materially delay the ability of the Company to consummate
the transactions contemplated by this Agreement, nor is there any judgment, decree, injunction, rule or order of any governmental
entity or arbitrator outstanding against the Company having, or which, insofar as reasonably could be foreseen by the Company,
in the future could have, any such effect.

 

(ii)
The Company is not a party to, or bound by, any collective bargaining agreement, contract or other agreement or understanding
with a labor union or labor organization, nor is it the subject of any proceeding asserting that it has committed an unfair labor
practice or seeking to compel it to bargain with any labor organization as to wages or conditions of employment nor is there any
strike, work stoppage or other labor dispute involving it pending or, to its knowledge, threatened, any of which could have a
Material Adverse Effect with respect to the Company.

 

(iii)
The conduct of the business of the Company complies with all statutes, laws, regulations, ordinances, rules, judgments, orders,
decrees or arbitration awards applicable thereto.

 

ARTICLE
V 

 

COVENANTS

 

Section
5.01    Securities Law Compliance. Each of the Company and MSTI understand and agree
that the consummation of this Agreement, including the issuance of the Meridian Stock to the Selling Shareholders in exchange
for the Exchange Shares upon Closing as contemplated hereby, constitutes the offer and sale of securities under the Securities
Act and applicable state statutes. Each of the Company and MSTI agree that such transactions shall be consummated in reliance
on exemptions from the registration requirements of such statutes, which depend, among other items, on the circumstances under
which such securities are acquired. Furthermore, in connection with the transactions contemplated by this Agreement, the Company
and MSTI shall each file, with the assistance of the other and their respective legal counsel, such notices, applications, reports
or other instruments as may be deemed by them to be necessary or appropriate in an effort to document reliance on such exemptions,
and the appropriate regulatory authority in the state where the Selling Shareholders reside, unless an exemption requiring no
filing is available in such jurisdiction, all to the extent and in the manner as may be deemed by the Parties to be appropriate.

 

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Section
5.02    Access to Information; Confidentiality.

 

(a)         The Parties hereto shall, and shall cause its officers, Selling Shareholders, employees, counsel, financial advisors and other
representatives to, afford to any other party and its representatives reasonable access during normal business hours during the
period prior to the Closing Date of the Agreement to its properties, books, contracts, commitments, personnel and records and,
during such period, the parties shall, and shall cause each of its officers, employees and representatives to, furnish promptly
to any other party all information concerning its business, properties, financial condition, operations and personnel as such
other party may from time to time reasonably request. For the purposes of determining the accuracy of the representations and
warranties of each Party set forth herein and compliance by each Party of its obligations hereunder, during the period prior to
the Closing Date of the Exchange, each party shall provide each other party and its representatives with reasonable access during
normal business hours to its properties, books, contracts, commitments, personnel and records as may be necessary to enable each
party to confirm the accuracy of the representations and warranties of each other party set forth herein and compliance by each
party of their obligations hereunder, and, during such period, cause its, officers, employees and representatives to, furnish
promptly to each party upon its request (i) a copy of each report, schedule, registration statement and other document filed by
it during such period pursuant to the requirements of federal or state securities laws and (ii) all other information concerning
its business, properties, financial condition, operations and personnel as such other party may from time to time reasonably request.
Except as required by law, each party will hold, and will cause its respective directors, officers, employees, accountants, counsel,
financial advisors and other representatives and Affiliates to hold, any nonpublic information concerning another party in strict
confidence.

 

(b)         No investigation pursuant to this Section shall affect any representations or warranties of the parties herein or the conditions
to the obligations of the parties hereto.

 

Section
5.03    Commercially Reasonable Best Efforts. Upon the terms and subject to the conditions set forth in this Agreement,
each of the parties agrees to use its commercially reasonable best efforts to take, or cause to be taken, all actions, and to
do, or cause to be done, and to assist and cooperate with the other parties in doing, all things necessary, proper or advisable
to consummate and make effective, in the most expeditious manner practicable, the Exchange and the other transactions contemplated
by this Agreement. The Parties hereto will use their commercially reasonable best efforts and cooperate with one another (i) in
promptly determining whether any filings are required to be made or consents, approvals, waivers, permits or authorizations are
required to be obtained (or, which if not obtained, would result in an event of default, termination or acceleration of any agreement
or any put right under any agreement) under any applicable law or regulation or from any governmental authorities or third parties,
including parties to loan agreements or other debt instruments and including such consents, approvals, waivers, permits or authorizations
as may be required to transfer the assets and related liabilities of the Company in the Exchange, in connection with the transactions
contemplated by this Agreement, and (ii) in promptly making any such filings, in furnishing information required in connection
therewith and in timely seeking to obtain any such consents, approvals, permits or authorizations. The Parties hereto shall mutually
cooperate in order to facilitate the achievement of the benefits reasonably anticipated from the Exchange.

 

    11

     

    

 

Section
5.04    Further Assurances. Subject to the terms and conditions herein provided, each Party shall
use its reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary,
proper or advisable under applicable laws and regulations to consummate and make effective this Agreement and the transactions
contemplated herein.

 

ARTICLE
VI

INDEMNIFICATION

 

Section
6.01.    The Selling Shareholders shall indemnify and hold harmless, for a period of one year from the date of this Agreement,
the Company and its officers, directors, shareholders, employees, attorneys, accountants, representatives and agents from and
against any and all losses, damages, fees, costs, expenses, obligations and liabilities (collectively, the “Liabilities”)
or actions, investigations, inquiries, arbitrations, claims or other governmental or administrative agency proceedings in respect
thereof, including enforcement of this Agreement (collectively, the “Actions” and together with the Liabilities, the
“Losses”), arising out of or based on (i) any inaccuracy in or any breach of any representation of MSTI or such Selling
Shareholder contained in this Agreement, or misrepresentations made hereunder or (ii) a material breach of any covenant or agreement
of MSTI or the Selling Shareholders in this Agreement or any related agreement; provided, however, that such indemnification will
not be joint or several and the amount of such indemnification by any single Selling Shareholder will not exceed the amount that
is equal to (x) the number of shares of Meridian Stock issued to such Selling Shareholder pursuant to this Agreement multiplied
by (y) $2.90, payable in accordance herewith by such Selling Shareholder in cash or by return of such shares of Meridian Stock
(valued at $2.90 per share), to be determined solely in the discretion of such Selling Shareholder.

 

Section
6.02.    The Company shall indemnify the Selling Shareholders from and against any and all Losses to which it may become
subject arising out of or based on (i) any inaccuracy in or any breach of any representation of the Company contained in this
Agreement, or misrepresentations made hereunder or (ii) a material breach of any covenant or agreement of the Company in this
Agreement or any related agreement.

 

Section
6.03.    Without limiting the foregoing, Losses include, but are not limited to, all reasonable legal fees, court costs and other
expenses incurred in connection with investigating, preparing, defending, paying, settling or compromising any suit in law or
equity arising out of this Agreement.

 

    12

     

    

 

Section
6.04.    The indemnification provided for in this Article VI shall survive the consummation of the Transactions contemplated
hereby.

 

ARTICLE
VII

MISCELLANEOUS

 

Section
7.01    Brokers. Each Party agrees that there were no finders or brokers involved in bringing the Parties together
or who were instrumental in the negotiation, execution or consummation of this Agreement. Each Party agrees to indemnify the other
against any claim by any third Person for any commission, brokerage or finder’s fee arising from the transactions contemplated
hereby based on any alleged agreement or understanding between the indemnifying party and such third Person, whether express or
implied, from the actions of the indemnifying party.

 

Section
7.02    Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this
Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or conflict
of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the
laws of any jurisdictions other than the State of New York. Each Party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the State of New York, for the adjudication of any dispute hereunder or in connection
herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert
in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.
Each Party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof to such Party at the address for such notices to it under this Agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any manner permitted by law.

 

Section
7.03    Notices. All notices or other communications required or permitted by this Agreement shall
be in writing and addressed as follows:

 

	 	If to Meridian Waste Solutions, Inc.	 Meridian Waste Solutions, Inc.
	 	 	12540 Broadwell Road, Suite 2104
	 	 	Milton, Georgia 30004
	 	 	Attn: Jeffrey Cosman, CEO
	 	 	 
	 	With Copies to:	Lucosky Brookman LLP
	 	 	101 Wood Avenue South, 5th Fl
	 	 	Woodbridge, NJ 08830
	 	 	Attn: Joseph M. Lucosky
	 	 	 
	 	If to Mobile Science Technologies, Inc.:	Mobile Science Technologies, Inc.
	 	 	12540 Broadwell Road, Suite 2104
	 	 	Milton, Georgia 30004
	 	 	Attn: Jeffrey Cosman, Sole Director

 

	 	If to the Selling Shareholders:	[addresses designated to Meridian by MSTI]

 

or
such other addresses as shall be furnished in writing by any Party in the manner for giving notices hereunder.

 

    13

     

    

  

Notice
shall be deemed to have been duly received:

 

(a)         if given email, when transmitted and the appropriate confirmation received, as applicable, if transmitted on a business day and
during normal business hours of the recipient, and otherwise on the next business day following transmission;

 

(b)         if given by certified or registered mail, return receipt requested, postage prepaid, three business days after being deposited
in the U.S. mail; and

 

(c)         if given by courier, messenger or other means, when received or personally delivered and, in any such case, addressed as indicated
herein, or to such other addresses as may be specified by any Party to the other Parties pursuant to notice given by such Party
in accordance with the provisions of this Section 6.03.

 

Section
7.04    Attorneys Fees. In the event that any Party institutes any action or suit to enforce this Agreement or to secure
relief from any default hereunder or breach hereof, the prevailing Party shall be reimbursed by the losing Party for all costs,
including, without limitation, reasonable attorneys’ fees, incurred in connection therewith and in enforcing or collecting
any judgment rendered therein.

 

Section
7.05    Third Party Beneficiaries. This contract is strictly between the Company, MSTI, and the Selling Shareholders
and, except as specifically provided, no other Person shall be deemed to be a third party beneficiary of this Agreement.

 

Section
7.06    Expenses. The Company shall bear the expenses, including legal, accounting and professional fees, incurred
in connection with this Agreement and any other agreements in connection therewith, the Exchange or any of the other transactions
contemplated hereby.

 

Section
7.07    Entire Agreement. This Agreement and the related documents referenced herein represent the entire agreement
between the Parties relating to the subject matter hereof, and supersedes all prior agreements, understandings and negotiations,
written or oral, with respect to such subject matter.

 

Section
7.08    Survival; Termination. The representations, warranties and covenants of the respective Parties shall survive
the consummation of the transactions herein contemplated for a period of one year.

 

    14

     

    

 

Section
7.09    Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original,
and all of which taken together shall be but a single instrument. Signatures delivered by email shall be deemed original signatures.

 

    Section
7.10Independent Counsel. MSTI and the Selling Shareholders acknowledge that they have been provided with
an opportunity to consult with their own legal counsel and tax or other advisors with respect to this Agreement.

 

Section
7.11    Amendment or Waiver. Every right and remedy provided herein shall be cumulative with every other right and
remedy, whether conferred herein, at law or in equity, and may be enforced concurrently therewith, and no waiver by any Party
of the performance of any obligation by the other shall be construed as a waiver of the same or any other default then, theretofore
or thereafter occurring or existing. This Agreement may by amended by a writing signed by all Parties, with respect to any of
the terms contained herein, and any term or condition of this Agreement may be waived or the time for performance may only be
extended by a writing signed by the Party or Parties for whose benefit the provision is intended.

 

 

[Signature
pages follow]

 

    15

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the date first written above, and the corporate
and company parties have caused this Agreement to be executed by their respective Chief Executive Officer and President, hereunto
duly authorized.

 

	 	MERIDIAN WASTE SOLUTIONS, inc. 
	 	 	 	 
	 	By:	 
	 	 	Name:	Jeffrey Cosman
	 	 	Title:	Chief Executive Officer
	 	 	 	 
	 	Mobile science technologies, inc.
	 	 	 	 
	 	By:	 
	 	 	Name:	Mary O’Brien
	 	 	Title:	President

 

 

[Signature
page to the Agreement]

 

16Exhibit

AMENDMENT NO. 3 
TO CREDIT AGREEMENT
AMENDMENT NO. 3 TO CREDIT AGREEMENT, dated as of April 25, 2017 (this “Amendment”), entered into by and among MICROSEMI CORPORATION, a Delaware corporation (the “Borrower”), the undersigned Subsidiary Guarantors, MORGAN STANLEY SENIOR FUNDING, INC. (“MSSF”), as administrative agent (in such capacity, the “Administrative Agent”), the undersigned Term A Lenders, the undersigned Revolving Lenders, and MSSF, as Swingline Lender. 
PRELIMINARY STATEMENTS:
WHEREAS, the Borrower, the several banks and other financial institutions or entities party thereto as lenders, the Administrative Agent and Morgan Stanley Senior Funding, Inc., as collateral agent, entered into that certain Credit Agreement, dated as of January 15, 2016 (as amended, amended and restated, supplemented, restated or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”; capitalized terms not otherwise defined in this Amendment have the same meanings as specified in the Credit Agreement);

WHEREAS, the Borrower desires to amend the Credit Agreement to decrease the Applicable Margin in respect of the Term A Loans and the Revolving Loans, and to make certain other amendments as may be agreed by the Borrower, the Term A Lenders party hereto, the Revolving Lenders party hereto, the Swingline Lender, and the Administrative Agent;

WHEREAS, the Borrower, the undersigned Term A Lenders, the undersigned Revolving Lenders, the Swingline Lender, and the Administrative Agent have agreed to amend the Credit Agreement as hereinafter set forth; and

WHEREAS, MSSF is acting as sole arranger and sole bookrunner for this Amendment (in such capacities, the “Sole Arranger”).

NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto hereby agree as follows:
SECTION 1.    Amendments to Credit Agreement.  The Credit Agreement is, effective as of the date hereof and subject to the satisfaction (or waiver) of the conditions precedent set forth in Section 3, hereby amended as follows:
(a)    Section 1.1 of the Credit Agreement shall be amended by adding the following new definitions thereto in proper alphabetical order:

“Amendment No. 3”: that certain Amendment No. 3 to Credit Agreement, dated as of April 25, 2017, among the Borrower, the Subsidiary Guarantors, the Administrative Agent, the Term A Lenders party thereto, and the Revolving Lenders party thereto.
“Amendment No. 3 Effective Date”: the date on which all of the conditions contained in Section 3 of Amendment No. 3 have been satisfied or waived by the Administrative Agent.

(b)    The definition of “Applicable Margin” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Applicable Margin”:  for each Type of Loan, the rate per annum set forth under the relevant column heading below:
	
			
	 
	Eurodollar Loans
	Base Rate Loans

	Term A Loans, Revolving Loans and Swingline Loans
	1.75%
	0.75%

	Term B Loans
	2.25%
	1.25%

(c)    The definition of “Commitment Fee” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Commitment Fee Rate”: means a rate of 0.25% per annum.”

(d)    The definition of “Loan Documents” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Loan Documents”:  this Agreement, the Security Documents, the Notes, the Fee Letter, Amendment No. 1, the 2016 Increase Term Joinder, Amendment No. 2, the 2017 Increase Term Joinder, Amendment No. 3, and each Issuer Document.”
(e)    Section 1.1 of the Credit Agreement is hereby amended by deleting the following definitions: “Adjustment Date” and “Pricing Grid”.
(f)    Annex A of the Credit Agreement is hereby deleted in its entirety.
SECTION 2.    Reference to and Effect on the Loan Documents
(a)    On and after the Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” 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 Amendment.

(b)    The Credit Agreement, as specifically amended by this Amendment, and the other Loan Documents are, and shall continue to be, in full force and effect, and are hereby in all respects ratified and confirmed.  
(c)    Except as expressly provided herein, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under the Credit Agreement or any other Loan Document, nor shall it constitute a waiver of any provision of the Credit Agreement or any Loan Document.
(d)    The Borrower and each other Loan Party hereby (i) ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the Loan Documents (including, without limitation, Amendment No. 1, the 2016 Increase Term Joinder, Amendment No. 2 and the 2017 Increase Term Joinder)to which it is a party, (ii) ratifies and reaffirms each grant of a lien on, or security interest in, its property made pursuant to the Loan Documents (including, without limitation, the grant of security made by such Loan Party pursuant to the Guarantee and Collateral Agreement) and confirms that such liens and security interests continue to secure the Secured Obligations under the Loan Documents, including without limitation, all Secured Obligations resulting from or incurred pursuant to this Amendment, in each case subject to the terms thereof, and (iii) in the case of each Subsidiary Guarantor, ratifies and reaffirms its guaranty of the Guarantor Obligations (as defined in the Guarantee and Collateral Agreement) pursuant to the Guarantee and Collateral Agreement.
(e)    This Amendment shall be deemed a Loan Document for all purposes under the Credit Agreement.
SECTION 3.    Conditions to Effectiveness of Section 1 of the Amendment.  Section 1 of this Amendment shall become effective as of the date on which the following conditions shall have been satisfied (or waived) (the “Effective Date”):
(a)    The Administrative Agent shall have received counterparts of this Amendment duly executed by the Borrower, the Subsidiary Guarantors, the Term A Lenders party hereto, and the Revolving Lenders party hereto (which Term A Lenders and Revolving Lenders shall constitute all of the Term A Lenders and Revolving Lenders under the Credit Agreement after giving effect to Sections 5(a) and 5(b) below));
(b)    After giving effect to this Amendment and the transactions contemplated hereby (i) each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents shall be true and correct in all material respects on and as of the Effective Date as if made on and as of such date (except to the extent made as of a specific date, in which case such representation and warranty shall be true and correct in all material respects on and as of such specific date), and (ii) no Default or Event of Default shall have occurred and be continuing or would result from the borrowings to be made on the Effective Date;
(c)    The Administrative Agent shall have received a legal opinion of O’Melveny & Myers LLP, counsel to the Loan Parties, addressed to the Administrative Agent, the Term A Lenders 

and the Revolving Lenders, in form and substance reasonably satisfactory to the Administrative Agent;
(d)    The Administrative Agent shall have received a certificate of the Borrower substantially in the form of Exhibit F to the Credit Agreement (with such modifications as necessary to make such certificate applicable to the transactions contemplated pursuant to this Amendment) with appropriate insertions and attachments including the certificate of incorporation of the Borrower certified by the relevant authority of the jurisdiction of organization of the Borrower; 
(e)    The Administrative Agent shall have received a certificate of a Responsible Officer of the Borrower confirming compliance with the conditions precedent set forth in clause (b) of this Section 3; and
(f)    The Borrower shall have paid (or substantially concurrently with the satisfaction of the other conditions set forth herein, on the Effective Date, shall pay) (i) the arrangement fee set forth in the engagement letter, dated April 17, 2017, executed by the Borrower and the Sole Arranger, and (ii) all reasonable and documented costs and expenses of the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Amendment (including the reasonable and documented fees, disbursements and other charges of Shearman & Sterling LLP as special New York counsel to the Administrative Agent) to the extent invoiced one (1) Business Day prior to the Effective Date.

SECTION 4.    Representations and Warranties.  The Borrower hereby represents and warrants to the Administrative Agent that:
(a)    on and as of the date hereof (i) it has all requisite corporate or other power and authority to enter into and perform its obligations under this Amendment, the Credit Agreement as amended hereby and the other Loan Documents to which it is a party, and (ii) this Amendment has been duly authorized, executed and delivered by it; and
(b)    this Amendment, and the Credit Agreement as amended hereby, constitute legal, valid and binding obligations of the Borrower, enforceable against it in accordance with their respective terms, subject only to any limitation under Laws relating to (i) bankruptcy, insolvency, reorganization, moratorium or creditors’ rights generally; and (ii) general equitable principles including the discretion that a court may exercise in the granting of equitable remedies.

SECTION 5.    Replacement of Lenders.  (a) If any Term A Lender declines or fails to consent to this Amendment by returning an executed counterpart of this Amendment to the Administrative Agent on, or prior to, 12:00 p.m. (noon) New York City time, on April 21, 2017 (the “Consent Deadline”), then pursuant to and in compliance with the terms of Sections 4.13, 11.1 and 11.6 of the Credit Agreement, such Term A Lender may be replaced and its commitments and/or obligations purchased and assumed by either a new Term A Lender or an existing Term A Lender which is willing to consent to this Amendment upon execution of this Amendment (which will also be deemed to be the execution of an Assignment and Assumption Agreement substantially in the form of Exhibit A hereto).

(b)     If any Revolving Lender declines or fails to consent to this Amendment by returning an executed counterpart of this Amendment to the Administrative Agent on, or prior to, the Consent Deadline, then pursuant to and in compliance with the terms of Sections 4.13, 11.1 and 11.6 of the Credit Agreement, such Revolving Lender may be replaced and its commitments and/or obligations purchased and assumed by either a new Revolving Lender or an existing Revolving Lender which is willing to consent to this Amendment upon execution of this Amendment (which will also be deemed to be the execution of an Assignment and Assumption Agreement substantially in the form of Exhibit A hereto).

SECTION 6.    Costs and Expenses  The Borrower agrees that all reasonable out-of-pocket expenses incurred by the Administrative Agent in connection with the preparation, execution, delivery and administration, modification and amendment of this Amendment and the other instruments and documents to be delivered hereunder or in connection herewith (including, without limitation, the reasonable fees, charges and disbursements of counsel for the Administrative Agent (provided that such fees, charges and disbursements shall not include fees, charges and disbursements for more than one counsel plus one local counsel in each relevant jurisdiction)), are expenses that the Borrower is required to pay or reimburse pursuant to Section 11.5 of the Credit Agreement.
SECTION 7.    Execution in Counterparts.  This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed signature page of this Amendment by facsimile transmission or electronic mail (in “.pdf” or similar format) shall be effective as delivery of an original executed counterpart hereof.
SECTION 8.    GOVERNING LAW.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
SECTION 9.    WAIVER OF RIGHT OF TRIAL BY JURY.  EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED 

HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AMENDMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the parties have caused this Amendment No. 3 to Credit Agreement to be executed by their respective authorized officers as of the date first above written.

MICROSEMI CORPORATION,
as Borrower

		
	By:
	____/s/_John W. Hohener________________ 
Name: John W. Hohener 
Title: Executive Vice President, Chief Financial             Officer, and Treasurer

    
MICROSEMI CORP. - MASSACHUSETTS,
as Subsidiary Guarantor

		
	By:
	____/s/_John W. Hohener________________ 
Name: John W. Hohener 
Title: Chief Financial Officer, Treasurer, and                Secretary

MICROSEMI CORP. – POWER PRODUCTS GROUP, as Subsidiary Guarantor

By: ____/s/_John W. Hohener________________ 
Name: John W. Hohener 
Title: Chief Financial Officer and Secretary

MICROSEMI CORP. – RF POWER PRODUCTS,
as Subsidiary Guarantor

		
	By:
	____/s/ Steven G. Litchfield_______________ 
Name: Steven G. Litchfield 
Title: President, Chief Executive Officer, Chief                Financial Officer and Secretary

MICROSEMI CORP. – ANALOG MIXED SIGNAL GROUP, as Subsidiary Guarantor

		
	By: ____/s/_John W. Hohener________________ 
Name: John W. Hohener 
Title: Vice President, Chief Financial Officer, 
	          Secretary, and Treasurer

MICROSEMI FREQUENCY AND TIME CORPORATION, as Subsidiary Guarantor

		
	By:
	____/s/_John W. Hohener________________ 
Name: John W. Hohener 
Title: Secretary

MICROSEMI SEMICONDUCTOR (U.S.) INC.,
as Subsidiary Guarantor

		
	By:
	____/s/_John W. Hohener________________ 
Name: John W. Hohener 
Title: Chief Financial Officer and Corporate             Secretary

MICROSEMI STORAGE SOLUTIONS, INC.,
as Subsidiary Guarantor

		
	By:
	____/s/_John W. Hohener________________ 
Name: John W. Hohener 
Title: Chief Financial Officer and Treasurer

MICROSEMI SOLUTIONS (U.S.), INC., as Subsidiary Guarantor

		
	By:
	____/s/_John W. Hohener________________ 
Name: John W. Hohener 
Title: Chief Financial Officer and Treasurer

MICROSEMI CORP. – POWER MANAGEMENT GROUP, as Subsidiary Guarantor

		
	By:
	____/s/_John W. Hohener________________ 
Name: John W. Hohener 
Title: Vice President, Chief Financial Officer,              Secretary, and Treasurer

MICROSEMI SOC CORP., as Subsidiary Guarantor

		
	By:
	____/s/_Esam Elashmawi________________ 
Name: Esam Elashmawi 
Title: President, Chief Financial Officer and             Secretary

MORGAN STANLEY SENIOR FUNDING, INC., as Administrative Agent
 

		
	By:
	/s/ Jonathan Rauen______________  
Name: Jonathan Rauen 
Title: Authorized Signatory

MORGAN STANLEY SENIOR FUNDING, INC., as Swingline Lender
 

By:     /s/ Jonathan Rauen___________ 
Name: Jonathan Rauen  
Title: Authorized Signatory

Term A Lender Signature Pages to Amendment No. 3 to Credit Agreement
Term A Loans

[On file with the Administrative Agent.]

Revolving Lender Signature Pages to Amendment No. 3 to Credit Agreement
Term A Loans

[On file with the Administrative Agent.]

EXHIBIT A 
 
FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT
Reference is made to the Credit Agreement, dated as of January 15, 2016 (as amended, amended and restated, supplemented, restated or otherwise modified from time to time, the “Credit Agreement”), among Microsemi Corporation, a Delaware corporation (the “Borrower”), Morgan Stanley Senior Funding, Inc., as collateral agent (in such capacity, and together with its successors and assigns in such capacity, the “Collateral Agent”), the Lenders from time to time party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent (in such capacity, and together with its successors and assigns in such capacity, the “Administrative Agent”). Capitalized terms used herein that are not defined herein shall have the meanings given to them in the Credit Agreement.

1.    The Assignor identified on Schedule l hereto (the “Assignor”) and the Assignee identified on Schedule 1 hereto (the “Assignee”) agree as follows:
2.    The Assignor hereby irrevocably sells and assigns to the Assignee without recourse to the Assignor, and the Assignee hereby irrevocably purchases and assumes from the Assignor without recourse to the Assignor, as of the Assignment Effective Date (as defined below), the interest described in Schedule 1 hereto (the “Assigned Interest”) in and to the Assignor’s rights and obligations under the Credit Agreement with respect to the Facilities contained in the Credit Agreement as are set forth on Schedule 1 hereto, in the principal amount for the Facilities as set forth on Schedule 1 hereto.
3.    The Assignor (a) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Credit Agreement or with respect to the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement, any other Loan Document or any other instrument or document furnished pursuant thereto, other than that (i) the Assignor is the legal and beneficial owner of the Assigned Interest, (ii) the Assignor has full organizational power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and (iii) the interest being assigned by the Assignor hereunder is free and clear of any lien, encumbrance or other adverse claim; (b) makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrower, any of its respective Subsidiaries or any other obligor or the performance or observance by the Borrower, any of its respective Subsidiaries or any other obligor of any of their respective obligations under the Credit Agreement or any other Loan Document or any other instrument or document furnished pursuant hereto or thereto; and (c) attaches any Notes held by it evidencing the Facilities and (i) requests that the Administrative Agent, upon request by the Assignee, exchange the attached Notes, if any, for a new Note or Notes payable to the Assignee and (ii) if the Assignor has retained any interest in the Facilities, requests that the Administrative Agent exchange the attached Notes, if any, for a new Note or Notes payable to the Assignor, in each case in amounts which reflect the assignment being made hereby (and after giving effect to any other assignments which have become effective on the Assignment Effective Date).

4.    The Assignee (a) represents and warrants that it is legally authorized to enter into this Assignment and Assumption and has full organizational power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; (b) confirms that it has received a copy of the Credit Agreement, together with copies of the financial statements delivered pursuant to Section 5.1 thereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption; (c) agrees that it will, independently and without reliance upon the Assignor, the Agents or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement, the other Loan Documents or any other instrument or document furnished pursuant hereto or thereto; (d) appoints and authorizes the Agents to take such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement, the other Loan Documents or any other instrument or document furnished pursuant hereto or thereto as are delegated to the Agents by the terms thereof, together with such powers as are incidental thereto; (e) agrees that it will be bound by the provisions of the Credit Agreement and will perform in accordance with its terms all the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender including, if it is organized under the laws of a jurisdiction outside the United States, its obligations pursuant to Section 4.10(g) of the Credit Agreement; (f) confirms that it satisfies the requirements set forth in Section 11.6(b) of the Credit Agreement; (g) represents and warrants that it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type; (h) if it is a Non‐U.S. Lender, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to Sections 4.10(g) and 11.6(g) of the Credit Agreement, duly completed and executed by such Assignee; and (j) it is an “Eligible Assignee”.
5.    The effective date of this Assignment and Assumption shall be the Effective Date of Assignment and Assumption or the Trade Date described in Schedule 1 hereto (the “Assignment Effective Date”).  Following the execution of this Assignment and Assumption, it will be delivered to the Administrative Agent for acceptance by it and recording by the Administrative Agent pursuant to the Credit Agreement, effective as of the Assignment Effective Date (which shall not, unless otherwise agreed to by the Administrative Agent, be earlier than five (5) Business Days after the date of such acceptance and recording by the Administrative Agent).
6.    Upon such acceptance and recording, from and after the Assignment Effective Date, the Administrative Agent shall make all payments under the Credit Agreement in respect of [the][each] Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignor for amounts which have accrued to but excluding the Assignment Effective Date and to [the][the relevant] Assignee for amounts which have accrued from and after the Assignment Effective Date. Notwithstanding the foregoing, the Administrative Agent shall make all payments of interest, fees or other amounts paid or payable in kind from and after the Assignment Effective Date to [the][the relevant] Assignee.

7.    From and after the Assignment Effective Date, (a) the Assignee shall be a party to the Credit Agreement and, to the extent provided in this Assignment and Assumption, have the rights and obligations of a Lender thereunder and under the other Loan Documents and shall be bound by the provisions thereof and (b) the Assignor shall, to the extent provided in this Assignment and Assumption, relinquish its rights and be released from its obligations under the Credit Agreement, (and, to the extent this Assignment and Assumption covers all of the Assignor’s rights and obligations under the Credit Agreement, the Assignor shall cease to be a party to the Credit Agreement but shall continue to be entitled to the benefits of Sections 4.9, 4.10, 4.11 and 11.5 of the Credit Agreement; provided, to the extent applicable, that the Assignor continues to comply with the requirements of Section 4.10(g) of the Credit Agreement).
This Assignment and Assumption shall be governed by and construed in accordance with the laws of the State of New York.
IN WITNESS WHEREOF, the parties hereto have caused this Assignment and Assumption to be executed as of the date first above written by their respective duly authorized officers on Schedule 1 hereto.

Schedule 1 to 
Assignment and Assumption
Name of Assignor:  _________________
Name of Assignee:  _________________
[Effective Date of Assignment and Assumption] [Trade Date]:  ______________
	
		
	Facility Assigned
	Aggregate Amount of Commitment/Loans for all Lenders

	[Term A/Revolving] [Commitment/Loan]
	 

	 
	[$__________]

	
		
	Principal Amount Assigned
	Commitment/Loans Percentage Assigned

	$_____
	___.______%

	
		
	[Name of Assignee]
	[Name of Assignor]

	By:       
Name: 
Title:
	By:       
Name: 
Title:

Accepted:
MORGAN STANLEY SENIOR FUNDING, INC.,  
as Administrative Agent
		
	By:  
	 
Name:   
Title:  

[Consented To:]
[MICROSEMI CORPORATION,  
as Borrower]
		
	By:  
	 
Name:   
Title:  

[MORGAN STANLEY SENIOR FUNDING, INC.,  
as Administrative Agent]
		
	By:  
	 
Name:   
Title:  

[    ],  
as Issuing Lender]
		
	By:
	     
Name:   
Title:  

[MORGAN STANLEY SENIOR FUNDING, INC.,  
as Swingline Lender]
		
	By:  
	 
Name:   
Title:

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