Document:

EXHIBIT 10.1

 

ELEVENTH AMENDMENT

TO

AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

This Eleventh Amendment
to Amended and Restated Loan and Security Agreement is entered into as of November 13, 2013 (the “Amendment”), by and
between APPLIED OPTOELECTRONICS, INC. (“Borrower”) and EAST WEST BANK (“Bank”).

RECITALS

Borrower and Bank
are parties to that certain Amended and Restated Loan and Security Agreement dated as of May 20, 2009 and as amended from time
to time including that certain First Amendment to Amended and Restated Loan and Security Agreement dated as of May 3, 2010, that
certain Second Amendment to Amended and Restated Loan and Security Agreement dated as of October 28, 2010, that certain Third Amendment
to Amended and Restated Loan and Security Agreement dated as of December 6, 2010, that certain Fourth Amendment to Amended and
Restated Loan and Security Agreement dated as of May 5, 2011, that certain letter dated September 30, 2011, that certain Fifth
Amendment to Amended and Restated Loan and Security Agreement dated as of November 30, 2011, that certain Sixth Amendment to Amended
and Restated Loan and Security Agreement dated as of March 29, 2012, that certain Seventh Amendment to Amended and Restated Loan
and Security Agreement dated as of June 29, 2012, that certain Eighth Amendment to Amended and Restated Loan and Security Agreement
dated as of November 2, 2012, that certain Assignment, Assumption and Amendment Agreement dated as of March 25, 2013, that certain
Ninth Amendment to Amended and Restated Loan and Security Agreement dated as of April 11, 2013, and that certain Tenth Amendment
to Amended and Restated Loan and Security Agreement dated as of September 10, 2013 (collectively, the “Agreement”).
The parties desire to amend the Agreement in accordance with the terms of this Amendment.

AGREEMENT

NOW, THEREFORE,
the parties agree as follows:

1.           The following definition in Section 1.1 is amended in its entirety to read as follows:

“Revolving Facility” or “Revolving
Line” means a Credit Extension of up to Seven Million Dollars ($7,000,000).

2.           Section 2.1(b)(i) is amended in its entire to read as follows:

(i)    Amount.
Subject to and upon the terms and conditions of this Agreement (1) Borrower may request Advances in an aggregate outstanding amount
not to exceed the Revolving Line; and (2) amounts borrowed pursuant to this Section 2.1(b)(i) may be repaid and reborrowed
at any time prior to the Revolving Maturity Date, at which time all Advances under this Section 2.1(b)(i) shall be immediately
due and payable. Borrower may prepay any Advances without penalty or premium. Borrower shall deliver to Bank a promissory note
for the Advances in substantially the form attached hereto as Exhibit

B-1. Bank may enforce its rights in respect of the Advances under this Agreement without such note.

3.           The parties acknowledge and agree that no further Credit Extensions shall be made under the EXIM Line after the
date hereof, and on or prior to the date hereof, Borrowers shall repay all amounts owing under the EXIM Line. Effective upon such
repayment, Section 2.1(e) is amended in its entire to read as follows:

(e)    [Intentionally Omitted].

4.           The parties acknowledge and agree that no further Credit Extensions shall be made under the Revolving Line II
after the date hereof, and on or prior to the date hereof, Borrowers shall repay all amounts owing under the Revolving Line II.
Effective upon such repayment, Section 2.1(f) is amended in its entire to read as follows:

(f)    [Intentionally Omitted].

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5.           Section 2.3(a) of the Agreement is amended in its entirety to read as follows:

(a)    Interest Rates.

(i)    Except as set forth
in Section 2.3(b), the outstanding principal balance of each Revolving Advance shall bear interest at a variable rate per annum
equal to the Prime Rate plus 1%, provided however, that at no time shall the interest rate applied to any such Credit Extension
be less than 4.25% per annum;

(ii)    Except as set forth
in Section 2.3(b), the outstanding principal balance of each Real Estate Advance, shall bear interest at a variable rate per annum
equal to the Prime Rate plus 0.75%, provided however, that at no time shall the interest rate applied to any Real Estate Advance
be less than 4.0% per annum.

(iii)    Except as set forth
in Section 2.3(b), the outstanding principal balance of each Equipment II Advance shall bear interest at a variable rate per annum
equal to the Prime Rate plus 1.25%; and

(iv)    Interest shall be
computed daily on the basis of a 360 day year and actual days elapsed.

6.           Section
6.2 is amended in its entirety to read as follows:

6.2    Financial
Statements, Reports, Certificates. Borrower shall deliver to Bank:

(a)    (i) as soon as available, but in any event within 45 days after the end of each calendar month during which the aggregate
outstanding Obligations owing to Bank with respect to Advances and Equipment II Advances is $9,000,000 or greater, a company prepared
consolidated and consolidating financial statements (balance sheet, income statement and cash flow statement) covering Borrower’s
operations during such period, in a form reasonably acceptable to Bank and certified by a Responsible Officer, together with a
Compliance Certificate certified as of the last day of such period and signed by a Responsible Officer in substantially the form
of Exhibit E hereto; (ii) as soon as available, but in any event on or before the date Borrower’s report on Form 10-Q is
required to be filed with the Securities Exchange Commission, quarterly consolidated and consolidating financial statements (balance
sheet, income statement and cash flow statement), together with a Compliance Certificate certified as of the last day of such period
and signed by a Responsible Officer in substantially the form of Exhibit E hereto; (iii) soon as available, but in any event on
or before the date Borrower’s report on Form 10-K is required to be filed with the Securities Exchange Commission, audited
consolidated and consolidating financial statements of Borrower prepared in accordance with GAAP, consistently applied, together
with an opinion which is unqualified or otherwise consented to in writing by Bank on such financial statements of an independent
certified public accounting firm reasonably acceptable to Bank; (iv) copies of all statements, reports and notices sent or made
available generally by Borrower to its security holders; and (v) such budgets, sales projections, operating plans or other financial
information generally prepared by Borrower in the ordinary course of business as Bank may reasonably request from time to time.

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(b)    As soon as possible and in any event within three (3) Business Days after becoming aware of the occurrence or existence
of an Event of Default hereunder, a written statement of a Responsible Officer setting forth details of the Event of Default, and
the action which Borrower has taken or proposes to take with respect thereto.

(c)    Upon Bank’s request, a report signed by Borrower, in form reasonably acceptable to Bank, listing any applications
or registrations that Borrower has made or filed in respect of any Patents, Copyrights or Trademarks and the status of any outstanding
applications or registrations, as well as any material change in Borrower’s Intellectual Property Collateral, including but
not limited to any subsequent ownership right of Borrower in or to any Trademark, Patent or Copyright not specified in Exhibits
A, B, and C of any Intellectual Property Security Agreement delivered to Bank by Borrower in connection with this Agreement.

(d)    Borrower may deliver to Bank on an electronic basis any certificates, reports or information required pursuant to this Section
6.2, and Bank shall be entitled to rely on the information contained in the electronic files, provided that Bank in good faith
believes that the files were delivered by a Responsible Officer.

7.           Section 6.3 of the Agreement is amended and restated in its entirety to read as follows:

6.3    [Intentionally Omitted]

8.           Section 6.4 of the Agreement is amended and restated in its entirety to read as follows:

6.4    Adjusted
Current Ratio. Borrower shall maintain, as of the last day of each calendar quarter, a ratio of (A) (i) Borrower’s unrestricted
cash maintained at Bank plus (ii) the amount of Accounts billed in the United States to (B) all Indebtedness owing by Borrower’s
branch operations in Taiwan plus all Obligations (not including the Real Estate Advance) owing to Bank (the “Adjusted Current
Ratio”) equal to or greater than 1.15 to 1.00.

9.           Section
6.5 of the Agreement is amended in its entirety to read as follows:

6.5    Total
Liabilities to Tangible Net Worth Ratio. Borrower shall maintain as of the last day of each calendar quarter, a ratio of Total
Liabilities to Tangible Net Worth not greater than 1.50 to 1:00.

10.          Section 6.10 of the Agreement is amended in its entirety to read as follows:

6.10    Primary
Depository. Borrower shall maintain its primary depository and operating accounts with Bank and its investment accounts with Bank
or Bank’s Affiliates. Borrower shall maintain, in accounts with Bank or Bank’s Affiliates, cash and cash equivalents
equal to (i) at least 50% of Total Cash at all times that Total Cash exceeds $15,000,000 or (ii) at least 60% of Total Cash at
all times that Total Cash is less than $15,000,000. Borrower, Bank and any third party financial institution shall enter into an
account control agreement, for the benefit of Bank, with any financial institution with which Borrower maintains any accounts outside
of Bank, in form and substance acceptable to Bank. For purposes of this Section 6.10, “Total Cash” means Borrower’s
aggregate cash, cash equivalents and short term investments, measured on a consolidated basis.

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11.          Section
6.14 of the Agreement is amended and restated in its entirety to read as follows:

6.14    [Intentionally
Omitted]

12.          Section 7.9 of the Agreement is amended and restated in its entirety to read as follows:

7.9    Subordinated
Debt. Make any payment in respect of any Subordinated Debt, or permit any of its Subsidiaries to make any such payment, except
in compliance with the terms of such Subordinated Debt, or amend any provision contained in any documentation relating to the Subordinated
Debt without Bank’s prior written consent.

13.          Notwithstanding the applicable negative covenants set forth in Section 7 of the Loan Agreement, Borrower may
make cash investments to its wholly owned subsidiary, Global Technology, Inc. (“GTI”) or Borrower’s branch operations
in Taiwan (“AOI Taiwan”), in an aggregate amount not to exceed USD$10,000,000; provided that such cash investment is
used solely for the purpose of (i) refinancing GTI’s debt facilities existing as of November 8, 2013 with new credit facilities
(with terms more favorable to GTI than the existing debt facilities) that require Borrower to provide such cash collateral to support
such new credit facilities, or (ii) financing arrangements for AOI Taiwan from third-party financial institutions in the business
of lending in Taiwan to support Borrower’s operations in Taiwan, provided however (A) that the only collateral or security
provided to support such AOI Taiwan’s Indebtedness are non-cash assets currently located in Taiwan or the cash pledge by
Borrower not to exceed the aggregate amount set forth above; and (B) Borrower shall not create, incur, assume or suffer to exist
any Lien, or permit any of its Subsidiaries to do so, with respect to any assets located in the United States, or provide any other
cash collateral in support of such Indebtedness. Bank acknowledges that the Indebtedness and the encumbrances described in this
Section 13 shall constitute “Permitted Indebtedness” and “Permitted Liens” under the Agreement.

14.          Borrower shall promptly notify Bank of the consummation of any transactions described in Section 13 above; and
upon Bank’s request, provide to Bank copies of all executed documents, instruments and agreements entered into with respect
to such transactions and any additional information with respect to the foregoing as Bank may reasonably request from time to time.

15.          Exhibit E to the Agreement is replaced in its entirety with the Exhibit E separately provided by Bank to Borrower.

16.          Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement.
The Agreement, as amended hereby, shall be and remains in full force and effect in accordance with its terms and hereby is ratified
and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment
shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect
prior to the date hereof. Borrower ratifies and reaffirms the continuing effectiveness of all instruments, documents and agreements
entered into in connection with the Agreement.

17.          Borrower represents and warrants that the representations and warranties contained in the Agreement are true
and correct as of the date of this Amendment, and that no Event of Default has occurred and is continuing.

18.          This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one instrument.

19.          As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory
to Bank, the following:

(a)             this Amendment, duly executed by Borrower;

(b)             repayment of all amounts owing with respect to the EXIM Line and the Revolving Line II;

(c)             payment of all Bank Expenses incurred through the date of this Amendment; and

(d)             such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

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IN WITNESS WHEREOF,
the undersigned have executed this Amendment as of the first date above written.

APPLIED OPTOELECTRONICS, INC.

By: /s/ Chih-Hsiang (Thompson) Lin

Title: President and Chief Executive Officer

EAST WEST BANK

By: /s/ Kelvin Chan

Title: Managing Dir. &
Head of Technology Banking 

 

 

 

 

 

 

    	5Exhibit 10.64

 

 

AMENDMENT NO. 1 TO LICENSE AND SUPPLY AGREEMENT

 

This AMENDMENT NO. 1 TO
LICENSE AND SUPPLY AGREEMENT (this “Amendment”) is made and entered into as of October 9, 2013 and shall become
effective upon the closing of an IPO (as defined in the License Agreement). This Amendment amends that certain License and Supply
Agreement dated as of May 23, 2013 (the “License Agreement”), by and between Ruthigen, Inc., a Delaware corporation
(“Ruthigen”) and Oculus Innovative Sciences, Inc., a Delaware corporation (“Oculus”). Capitalized
terms used and not defined herein shall have the meanings given to them in the License Agreement.

 

WHEREAS, Section
15.13 of the License Agreement provides that the License Agreement may be amended, if such amendment is reduced to writing and
signed by the authorized officers of both Parties to the License Agreement;

WHEREAS, the Parties
wish to amend the second milestone event listed in Section 7.1 of the License Agreement as set forth herein.

NOW, THEREFORE,
in consideration of the mutual covenants, agreements and for other good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the Parties agree as follows:

1.Amendment
to Second Milestone Event. The second milestone event set forth in Section 7.1 of the License Agreement is hereby deleted in
its entirety and the following inserted in lieu thereof:

	2.	Upon first clinical trial site selection for the Phase I/II   	One Million Dollars ($1,000,000)

 

2.Effect
of this Amendment. Except as specifically amended as set forth herein, each term and condition of the License Agreement shall
continue in full force and effect.

3.Governing
Law. This Amendment shall be governed by and construed in accordance with the laws in force in the State of California, without
giving effect to the choice of laws provisions thereof.

4.Counterparts;
Facsimile Signatures. This Amendment may be executed or consented to in counterparts, each of which shall be deemed an original
and all of which taken together shall constitute one and the same instrument. This Amendment may be executed and delivered by facsimile
or electronically and, upon such delivery, the facsimile or electronically transmitted signature will be deemed to have the same
effect as if the original signature had been delivered to the other party.

[Remainder of page intentionally
left blank.]

    	 

    	 

    

 

 

IN WITNESS WHEREOF, the
Parties have caused this Amendment No. 1 to License and Supply Agreement to be duly executed and delivered by their proper and
duly authorized officers as of the day and year first above written.

	 	 
	
        OCULUS

         

        OCULUS INNOVATIVE SCIENCES INC.

	
        RUTHIGEN

         

        

        RUTHIGEN, INC.

         

	By:      /s/ James Schutz	By:      /s/ Hojabr Alimi 
	Name: James Schutz 	Name: Hojabr Alimi 
	Title:   Chief Executive Officer 	Title:   Chief Executive Officer 
	Date:   10/9/13	Date:  10/9/13

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