Document:

Secured Promissory Note

 Exhibit 10.9 
 THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT IN COMPLIANCE WITH THE REQUIREMENTS OF OR
EXEMPTIONS UNDER SUCH ACT AND LAWS. 
 SECURED SUBORDINATED PROMISSORY NOTE 
  

			
	 $750,000.00
	  	Dated: April 10, 2006

 FOR VALUE RECEIVED, AKRION, INC., a Delaware corporation (“Maker”), promises to pay to
Sunrise Capital Partners, L.P. (“Payee”) the principal sum of Seven Hundred Fifty Thousand Dollars ($750,000), lawful money of the United States of America, together with interest accrued thereon, at the rate and on the terms hereinafter
set forth. 
 1. Payment of Interest and Principal. 
 (a) Payment of Interest. Interest on the unpaid principal amount from time to time outstanding under this Note shall at a rate equal to 11.75% per annum, computed on the basis of a 365-day year for the
actual number of days elapsed. Such interest shall be payable semi-annually in arrears beginning on October 10, 2006. All accrued interest shall be payable in cash or, upon the written request of Payee, by adding such accrued interest to the
principal amount outstanding under this Note. 
 (b) Payment of Principal. The unpaid principal balance of this Note shall be due and
payable on the earliest to occur of (i) May 9, 2007 and (ii) the consummation of a Liquidity Event. A “Liquidity Event” means any of the following: (x) an underwritten offering by Maker of any of its equity securities;
(y) a merger of Maker into or with another person or any sale or transfer of the equity interests of Maker in any such case in which the equity holders of Maker immediately prior to such transaction possess less than 50% of Maker’s or the
surviving entity’s issued and outstanding equity interests immediately after such transaction; or (z) the sale by Maker of all or substantially all of its assets. 
 (c) Prepayment. Maker shall have the right to prepay at any time and from time to time, without penalty or premium, all or any portion of the
outstanding principal of this Note. All prepayments of this Note shall be applied first to accrued interest and second to unpaid principal. 
 (d) Place of Payment. Maker shall make all payments to Payee at the address of Payee as set forth in Section 10 hereof or to such other place or places as Payee, from time to time, shall designate in writing to Maker.

 2. Security Interest. As security for the prompt payment when due of all amounts pursuant to this Note and any renewals, extensions
or modifications thereof, Maker hereby grants to Payee a security interest in all of Maker’s assets, including all of Maker’s furnishings, machinery, chattel paper, equipment, instruments, documents, investment property, general
intangibles, including without limitation all of Maker’s intellectual property, deposit accounts 

 
and all money, and all property now or at any time in the future in Payee’s possession, all inventory, payment intangibles, letter-of-credit rights,
supporting obligations, accounts, accounts receivable, goods (as such terms may be defined in the UCC), and all replacements, accessions, substitutions and proceeds of the foregoing, including but not limited to, insurance proceeds and claims
against third parties, all products and all books and records related to any of the foregoing (collectively, as the “Collateral”). Maker agrees to execute and cooperate fully in the filing of UCC-1 Financing Statements and any other
filings evidencing the security interest in the Collateral granted herein to Payee, in such jurisdictions, as Payee shall specify. 
 “UCC” means the Uniform Commercial Code of the State of Delaware, as amended from time to time; provided, however, that if by reason of mandatory provisions of law, the perfection or the effect of perfection or
non-perfection of the security interest in any Collateral granted by this Note is covered by the Uniform Commercial Code as in effect in a jurisdiction other than the State of Delaware, then the term UCC shall include the Uniform Commercial Code as
in effect in such other jurisdiction for purposes of the provisions of this Note relating to such perfection or effect of perfection or non-perfection. 
 3. Covenants. Maker hereby covenants and agrees that it shall: (a) promptly notify Payee in writing of any change in the location of the Collateral; and (b) execute upon demand by Payee any financing
statements or other documents which Payee may deem necessary to perfect or maintain perfection of the security interest created in this Note and pay upon demand by Payee the costs of any such filing. 
 4. Priority. The indebtedness evidenced by the Note, and the security interest granted hereunder, is subordinate to that of the loan from PNC Bank
made pursuant to that certain Revolving Credit and Security Agreement dated August 5, 2005 between Maker and PNC Bank (as amended from time to time, the “PNC Loan”) and that of that certain Loan and Security Agreement with ORIX
Venture Finance, LLC dated April 28, 2004 (as amended from time to time, the “ORIX Loan”). The indebtedness evidenced by this Note, and the security interest granted hereunder, is pari passu with that of the Secured
Subordinated Promissory Note given from Maker to Payee dated March 10, 2004 in the original principal amount of $2,917,324.70, the Secured Subordinated Promissory Note given from Maker to Payee dated September 21, 2004 in the original
principal amount of $7,595,047.44, and the Secured Subordinated Revolving Promissory Note given from Maker to Payee dated January 7, 2005 in the original principal amount of $12,500,000. 
 5. Events of Default; Remedies. 
 (a)
Events of Default. Any one of the following shall constitute an event of default (each, an “Event of Default” and collectively, “Events of Default”): 
 (i) Maker fails to pay when due any principal or interest due hereunder. 
 (ii) Maker fails to pay when due any installment of interest hereunder or any other payment due hereunder and such failure continues for a period of five days. 
  

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 (iii) The failure of Maker to observe or perform any term, condition, agreement, covenant or provision
contained herein, and the continued failure of Maker to observe or perform such term, condition, agreement, covenant or provision for ten days after Payee gives notice to Maker thereof. 
 (iv) The occurrence of any of the following events with respect to Maker: (A) the suspension or discontinuation of business; (B) the making of
an assignment for the benefit of creditors; (C) the appointment of a receiver or trustee for all or any substantial portion of Maker’s assets; (D) the admission in writing of its inability to pay debts when due; (E) any court or
governmental officer or agency shall take possession of any substantial part of Maker’s property; or (F) the commencement of proceedings in bankruptcy or any other proceedings for arrangement or reorganization of Maker’s debts under
any state or federal law, whether instituted by or against it (provided, however, if proceedings are commenced against Maker, there shall be not an Event of Default unless Maker shall have failed to obtain dismissal of the proceedings within
30 days of their commencement). 
 (v) There exists a default or an event that, with the giving of notice, would constitute a default, under
any other indebtedness of Maker for borrowed money, including without limitation the PNC Loan or the ORIX Loan. 
 (vi) The concealment or
removal of any part of Maker’s property with the intent to hinder, delay or defraud its creditors or any of them or the making or sufferance of any transfer of their property which is fraudulent under any bankruptcy, fraudulent conveyance or
similar federal or state law. 
 (b) Remedies. After the occurrence of an Event of Default as described in Section 5(a)(i), (ii),
(iii), (v) or (vi) above which is continuing, Payee shall have the right, by written notice to Maker, to declare the entire principal amount of this Note together with all accrued but unpaid interest immediately due and payable. Upon the
occurrence of an Event of Default as described in Section 5(a)(iv) above and without further notice to Maker, the unpaid principal amount and the accrued interest hereunder shall become immediately due and payable without presentment, notice of
nonpayment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by Maker. Upon any such occurrence, Payee may immediately and without demand exercise or cause to be exercised any rights and remedies provided
in this Note or which may be available to Payee at law, in equity, by statute, or otherwise, without further stay, any law, usage or custom to the contrary notwithstanding. Furthermore, and without limiting the foregoing, in any such event Payee
shall have all rights of a secured party under the UCC with respect to the Collateral. If the entire unpaid balance and interest shall, as a result of the preceding sentences, be immediately due and payable, the unpaid balance of principal and
interest shall accrue interest thereafter at an annual rate equal to the rate of interest then in effect under Section 1(a) above plus 4%, and all other sums due from Maker shall also be immediately due and payable. In no event shall the rate
of interest payable under this Note exceed the maximum rate of interest permitted to be charged under applicable law. If the rate of interest shall at any time exceed the maximum amount permitted under applicable law, then the rate of interest
payable hereunder shall be reduced to the maximum permitted rate, and any interest paid in excess of the permitted rate shall be refunded to Maker. Such refund shall be made by application of the excessive amount of interest paid against any sums
outstanding and shall be applied in such order as Payee may determine. 
  

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 6. CONFESSION OF JUDGMENT. MAKER HEREBY EMPOWERS THE PROTHONOTARY OR ANY ATTORNEY OF ANY COURT
OF RECORD TO APPEAR FOR MAKER AND TO CONFESS JUDGMENT AS OFTEN AS NECESSARY AGAINST MAKER IN FAVOR OF PAYEE OR ANY OTHER NOTEHOLDER, AT ANY TIME AND AS OF ANY TERM, FOR THE ABOVE SUM PLUS INTEREST DUE UNDER THE TERMS HEREOF AND ALL OTHER AMOUNTS DUE
HEREUNDER, TOGETHER WITH COSTS OF LEGAL PROCEEDINGS AND AN ATTORNEY’S COMMISSION EQUAL TO THE LESSER OF (A) 20% OF THE ABOVE SUM AND INTEREST THEN DUE HEREUNDER OR (B) $500. MAKER WAIVES ALL LAWS EXEMPTING REAL OR PERSONAL PROPERTY
FROM EXECUTION. 
 7. Rights Cumulative; Costs. The remedies of Payee as provided in this Note shall be cumulative and concurrent,
may be pursued singly, successively or together at the sole discretion of Payee, and may be exercised as often as occasion for their exercise shall occur. The remedies set forth herein shall be in addition to, and not in lieu of, any other
additional rights or remedies Payee may have at law or in equity. Payee may recover all costs of suit and other expenses incurred by Payee (including reasonable attorneys’ fees) in connection with the collection of any sums due hereunder.

 8. No Waiver of Rights. The acceptance of a past due payment or a partial payment shall not cause or operate as a waiver of any
obligation of Maker to make any and all payments as and when due. Neither the failure nor any delay on the part of either party to exercise any right, remedy, power, or privilege under this Note shall operate as a waiver thereof, nor shall any
single or partial exercise of any right, remedy, power, or privilege preclude any other or further exercise of the same or of any other right, remedy, power, or privilege, nor shall any waiver of any right, remedy, power, or privilege with respect
to any occurrence be construed as a waiver of such right, remedy, power, or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver.

 9. Waiver of Notice, Etc. Maker hereby waives presentment, demand, protest, notice of protest, dishonor and all other notices or
requirements of any kind. 
 10. Controlling Law. This Note and all questions relating to its validity, interpretation or performance
and enforcement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania, without regard to any conflict of law provision. 
 11. Notices. Any notice herein required or permitted to be given shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party notified; (b) five calendar days
after having been sent by registered or certified mail, return receipt requested, postage prepaid; or (c) one business day after deposit with a nationally recognized overnight courier specifying next day delivery. All communications shall be
sent as follows (or to such other address as Maker or Payee may designate in a notice delivered in accordance with this Section 11): 
  

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 If to Maker: 
 Akrion, Inc. 
 6330 Hedgewood Drive 
 No. 150 
 Allentown, PA 18106

 Attn: President 
 If to
Payee: 
 Sunrise Capital Partners, L.P. 
 245 Park Avenue 
 20th Floor 
 New York, NY 10167 
 Attention: 
 12. Binding Nature of Note. This Note shall be binding upon Maker, and its successors and assigns and shall inure to the benefit of Payee and its
successors and assigns. Payee shall have the right to assign all or a portion of this Note to any other person. 
 13. Modification.
This Note may not be modified or amended other than by an agreement in writing signed by Maker and Payee. 
  

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 IN WITNESS WHEREOF, Maker, intending to be legally bound, has caused its duly authorized representative
to execute and deliver this Note on the date first written above. 
  

			
	AKRION, INC.
		
	By:	 	 /s/ James Whittle

	Name:	 	James Whittle
	Title:	 	Chief Financial Officer

  

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 ALLONGE TO SECURED SUBORDINATED PROMISSORY NOTE 
 THIS ALLONGE TO SECURED SUBORDINATED PROMISSORY NOTE (“Allonge”) is made as of December 31, 2006 by and between Akrion, Inc., a Delaware
corporation (“Maker”), and Sunrise Capital Partners, L.P., a Delaware limited partnership (“Payee”). 
 WHEREAS, on
April 10, 2006, Maker executed and delivered to the order of Payee a Secured Subordinated Promissory Note (the “Note”) in the principal amount of $750,000.00; and 
 WHEREAS, Maker and Payee desire to amend the Note to modify the date of payment or principal and the manner in which interest accrues thereon.

 NOW, THEREFORE, in consideration of the mutual benefits inuring to Maker and Payee, and intending to be legally bound hereby, the parties
agree as follows: 
 1. Payment of Interest. The last sentence of Paragraph 1(a) of the Note is hereby deleted and replaced in its
entirety as follows: 
 “All accrued interest shall be payable semi-annually in arrears beginning October 10, 2006 by adding such
accrued interest to the principal amount outstanding under this Note or, upon the written request of Payee, in cash.” 
 2. Payment
of Principal. The first sentence of Paragraph 1(b) of the Note is hereby deleted and replaced in its entirety as follows: 
 “The
unpaid principal balance of this Note shall be due and payable on the earlier to occur of (i) January 31, 2008 and (ii) the consummation of a Liquidity Event.” 
 3. Single Instrument; Ratification. Maker hereby authorizes Payee to affix this Allonge to the Note, whereupon it shall become part of the Note.
Except as provided herein, the terms and provisions of the Note are in all other respects hereby ratified and confirmed and shall remain in full force and effect. 

 IN WITNESS WHEREOF, Maker has executed this Allonge as of the day and year first above written.

  

			
	AKRION, INC.
		
	By:	 	 /s/ James Whittle

	Name:	 	James Whittle
	Title:	 	Chief Financial Officer
	
	AGREED TO:
	
	SUNRISE CAPITAL PARTNERS, L.P.
		
	By:	 	 /s/ Joseph Julian

	Name:	 	Joseph Julian
	Title:	 	Principal

  

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 SECOND ALLONGE TO SECURED SUBORDINATED PROMISSORY NOTE 
 THIS SECOND ALLONGE TO SECURED SUBORDINATED PROMISSORY NOTE (“Second Allonge”) is made as of May 14, 2007 by and between Akrion, Inc., a
Delaware corporation (“Maker”), and Sunrise Capital Partners, L.P., a Delaware limited partnership (“Payee”). 
 WHEREAS,
on April 10, 2006, Maker executed and delivered to the order of Payee a Secured Subordinated Promissory Note (the “Note”) in the principal amount of $750,000.00; 
 WHEREAS, on December 31, 2006, Maker executed and Payee agreed to an Allonge to Secured Subordinated Promissory Note to, among other things, amend
the date on which the unpaid principal balance of the Note is due and payable (the “Original Allonge”); and 
 WHEREAS, Maker and
Payee desire to amend the Note to modify the date of payment of principal. 
 NOW, THEREFORE, in consideration of the mutual benefits inuring
to Maker and Payee, and intending to be legally bound hereby, the parties agree as follows: 
 1. Payment of Principal. The first
sentence of Paragraph 1(b) of the Note is hereby deleted and replaced in its entirety as follows: 
 “The unpaid principal balance of
this Note shall be due and payable on the earlier to occur of (i) July 20, 2008 and (ii) the consummation of a Liquidity Event.” 
 2. Single Instrument; Ratification. Maker hereby authorizes Payee to affix this Second Allonge to the Note, whereupon it shall become part of the Note. Except as provided herein, the terms and provisions of the
Note and the Original Note are in all other respects hereby ratified and confirmed and shall remain in full force and effect. 
 [Signature page to follow] 

 IN WITNESS WHEREOF, Maker has executed this Second Allonge as of the day and year first above written.

  

			
	AKRION, INC.
		
	By:	 	 /s/ James Whittle

	Name:	 	James Whittle
	Title:	 	Chief Financial Officer
	
	AGREED TO:
	
	SUNRISE CAPITAL PARTNERS, L.P.
		
	By:	 	 /s/ Joseph Julian

	Name:	 	Joseph Julian
	Title:	 	Principal

  

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 THIRD ALLONGE TO SECURED SUBORDINATED PROMISSORY NOTE 
 THIS THIRD ALLONGE TO SECURED SUBORDINATED PROMISSORY NOTE (“Third Allonge”) is made as of August 27, 2007 by and between Akrion, Inc., a
Delaware corporation (“Maker”), and Sunrise Capital Partners, L.P., a Delaware limited partnership (“Payee”). 
 WHEREAS,
on April 10, 2006, Maker executed and delivered to the order of Payee a Secured Subordinated Promissory Note (the “Note”) in the principal amount of $750,000.00; 
 WHEREAS, on December 31, 2006, Maker executed and Payee agreed to an Allonge to Secured Subordinated Promissory Note to, among other things, amend
the date on which the unpaid principal balance of the Note is due and payable (the “Original Allonge”); 
 WHEREAS, on May 14,
2007, Maker executed and Payee agreed to a Second Allonge to Secured Subordinated Promissory Note to, among other things, amend the date on which the unpaid principal balance of the Note is due and payable (the “Second Allonge”); and

 WHEREAS, Maker and Payee desire to amend the Note to modify the date of payment of principal. 
 NOW, THEREFORE, in consideration of the mutual benefits inuring to Maker and Payee, and intending to be legally bound hereby, the parties agree as
follows: 
 1. Payment of Principal. The first sentence of Paragraph 1(b) of the Note is hereby deleted and replaced in its entirety
as follows: 
 “The unpaid principal balance of this Note shall be due and payable on the earlier to occur of (i) January 9,
2009 and (ii) the consummation of a Liquidity Event.” 
 2. Single Instrument; Ratification. Maker hereby authorizes Payee
to affix this Third Allonge to the Note, whereupon it shall become part of the Note. Except as provided herein, the terms and provisions of the Note, the Original Note and the Second Allonge are in all other respects hereby ratified and confirmed
and shall remain in full force and effect. 
 [Signature page to follow] 

 IN WITNESS WHEREOF, Maker has executed this Third Allonge as of the day and year first above written.

  

			
	AKRION, INC.
		
	By:	 	/s/ JAMES WHITTLE
	Name:	 	James Whittle
	Title:	 	Chief Financial Officer

  

			
	 AGREED TO:
  
 SUNRISE CAPITAL PARTNERS, L.P.

		
	By:	 	/s/ JOSEPH JULIAN
	Name:	 	Joseph Julian
	Title:	 	Principal

  

 2Employment Agreement - Michael Ioannou

 Exhibit 10.15 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT
AGREEMENT is made as of the 15th day of June, 2007, by and between AKRION, INC., a Delaware corporation (the
“Company”), and MICHAEL IOANNOU (“Executive”). 
 BACKGROUND 
 The Company wishes to employ Executive as Chief Operating Officer of the Company, and Executive wishes to be employed by the Company as Chief Operating
Officer, on the terms and conditions contained in this Agreement. The parties desire to set forth the terms and conditions of the employment relationship between the Company and Executive. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants in this Agreement, the parties hereto, intending to be legally bound, hereby
agree as follows: 
 1. Employment and Duties. 
 (a) The Company hereby employs Executive as Chief Operating Officer of the Company, and Executive hereby accepts such employment, subject
to the terms and conditions of this Agreement. Executive shall report to the Chief Executive Officer of the Company. 
 (b)
Executive shall have such authority and such responsibilities as are reasonable and customary for similar positions within the Company’s industry and such other authority and responsibilities as the Company’s Board of Directors (the
“Board”) reasonably may determine from time to time. 
 (c) Executive agrees to devote his best efforts and all his
business time, attention, energy and skill to performing the duties described herein. 
 2. Effective Date. This Agreement shall commence on
the date hereof. Executive shall be employed as an employee at-will and accordingly, subject to Paragraph 6, this Agreement may be terminated at any time by either party for any reason. 
 3. Compensation. As compensation for performing the services required by this Agreement, Executive shall be compensated as follows:

 (a) Base Compensation. The Company shall pay to Executive an annual base salary (the “Base Compensation”)
in the initial amount of $275,000, payable in accordance with the Company’s standard payroll practices and subject to withholding for applicable federal, state and local taxes and all other items, if any, required to be withheld. Such Base
Compensation shall be reviewed from year to year and may be adjusted in the sole discretion of the Board. 
 (b) Bonus
Compensation. In addition to the Base Compensation, Executive shall be eligible to receive, at the sole discretion of the Compensation Committee of the Board, 

 
an annual bonus in such amount and based on such criteria as may be established by the Compensation Committee. If the Compensation Committee establishes a
bonus structure for Executive with respect to a calendar year, the Compensation Committee shall designate the “Target Bonus” for such year, which generally would represent the bonus payable to Executive if the Company were to achieve its
budgeted results for such year and which initially shall be 50% of the Base Compensation. Any such annual bonus for 2007 shall be pro rated for the portion of 2007 during which Executive is employed by the Company. Executive acknowledges that
nothing contained herein shall be construed as an offer or commitment by the Company to pay any bonuses or additional compensation hereunder. 
 (c) Stock Options. The Company agrees that on the date hereof it will grant to Executive an option (the “Option”) to purchase 175,000 shares of the Company’s Common Stock pursuant the
Company’s Stock Incentive Plan and a stock option agreement to be entered into by Executive and the Company. The Option will vest in three annual installments as follows: (i) 58,333 shares on the first anniversary of the date hereof;
(ii) 58,333 shares on the second anniversary of the date hereof; and (iii) 58,334 shares on the third anniversary of the date hereof. The exercise price of the Option will be $12.25 per share; provided, however, that in the event that a
Company IPO (as hereinafter defined) is completed on or before December 31, 2007 and the initial public offering price of a share of Common Stock in the Company IPO is greater than $12.25, the exercise price of the Option will be increased to
the initial public offering price of a share of Common Stock in the Company IPO. For purposes of this Agreement, “Company IPO” shall mean the sale by the Company of its common stock through an underwritten public offering. 
 4. Employee Benefits. 
 (a) While employed by the Company under this Agreement, Executive shall have the right to participate in such retirement plans (qualified or non-qualified), pension, insurance, health, disability or other benefit, option or bonus plans or
programs that may be generally offered from time to time by the Company to its executive officers. 
 (b) Executive shall have
the right to four weeks of paid vacation during each calendar year during his employment under this Agreement, pro rated for partial years. There shall be no accrual of vacation days that are not taken in a given calendar year. 
 5. Expenses and Costs. 
 (a) Executive shall promptly be reimbursed against presentation of vouchers or receipts in accordance with the Company’s regular reimbursement procedures and practices in effect from time to time for all reasonable and necessary
expenses incurred by him in connection with the performance of business-related duties upon the approval of same by the Company, which approval shall not be unreasonably withheld or delayed. 
 (b) The Company agrees that it will reimburse Executive for or pay directly certain costs of relocating Executive’s primary residence
to Allentown, Pennsylvania on or before July 1, 2008, as follows (collectively, the “Relocation Benefits”): (i) until the sale of Executive’s primary residence, the Company will reimburse Executive for his reasonable 

 
commuting expenses, including temporary housing and airfare; (ii) the Company will pay the cost to pack and move Executive’s household goods and
two automobiles and to provide storage for such household goods as may be reasonably required; (iii) the Company will pay the cost of one house-hunting trip for Executive and his immediate family, including air travel, lodging and car rental
for such trip and a reasonable per-person per diem for such trip; and (iv) the Company will reimburse Executive for his actual closing costs and realtor fees with respect to the sale of his primary residence upon presentment of all
documentation evidencing such closing costs and fees. The Company will have no obligation to provide any of the Relocation Benefits to the extent they are not used or incurred by Executive on or prior to July 1, 2008. Notwithstanding the
foregoing, in the event that Executive terminates his employment under this Agreement for any reason prior to July 1, 2009, Executive agrees that he will reimburse the Company in full for any Relocation Benefits provided by the Company
hereunder. 
 6. Termination and Termination Benefits. 
 (a) Termination by the Company With Cause or by Executive Without Good Reason. The Company may terminate Executive’s
employment for Cause (as hereinafter defined) at any time. Upon termination for Cause, or in the event Executive resigns without Good Reason (as defined in Paragraph 6(b) below), Executive’s sole entitlement shall be the payment of his Base
Compensation through the date of termination. For purposes of this Agreement, “Cause” shall mean (i) an act of dishonesty by Executive that results in or was intended to result in gain to or personal enrichment of Executive at the
Company’s expense; (ii) the willful engaging by Executive in misconduct which is injurious to the Company; (iii) the repeated failure of Executive to satisfactorily perform his duties hereunder (as directed by the Board);
(iv) the material breach by Executive of any other material provision of this Agreement; (v) the failure by Executive to comply with all material applicable laws in performing Executive’s duties hereunder or in directing the conduct
of the Company’s business; (vi) the commission by Executive of any felony or intentionally fraudulent act against the Company or its affiliates, employees, agents or customers; or (vii) the commission by Executive of gross negligence
or gross insubordination in the performance of his duties hereunder. 
 (b) Termination by the Company Without Cause or by
Executive With Good Reason. The Company may terminate Executive’s employment without Cause at any time upon 30 days’ prior written notice to Executive. Executive may terminate his employment with Good Reason upon 30 days’ prior
written notice to the Company (during which period Executive shall, if requested in writing by the Company, continue to perform his duties as specified under this Agreement). If either of the foregoing termination events occur, Executive shall be
entitled to receive the following: (i) if such termination occurs prior to a Change of Control (as hereinafter defined), Executive shall be entitled to receive (1) an amount equal to his then annual Base Compensation for the year in which
the termination occurs payable in 12 equal monthly payments beginning on the first monthly anniversary of his termination of employment, and (2) the cost for health insurance coverage through COBRA for Executive for 12 months following the date
of termination; or (ii) if such termination occurs upon or within 12 months following a Change of Control, Executive shall be entitled receive (1) an amount equal to one and one-half times his then annual Base Compensation for the year in
which the termination occurs payable in 18 equal monthly payments beginning on the first monthly anniversary of his termination of employment, and (2) the cost for health insurance coverage through COBRA for Executive for 

 
18 months following the date of termination; provided, however, that as a condition to the Company’s obligation to pay Executive any amounts under this
Paragraph 6(b), the Company may require Executive to execute a Release and Settlement Agreement waiving all known or unknown claims against the Company, in a form reasonably requested by the Company, and Executive shall agree to comply with his
surviving obligations under Paragraphs 7 and 8 hereunder. For purposes of this Agreement, “Good Reason” shall mean: (x) a substantial reduction in Executive’s responsibilities, which change materially reduces Executive’s
stature, importance and dignity within the Company; (y) the relocation of the Company’s business operations, without the consent of Executive, to a location more than 50 miles from the Company’s current corporate headquarters; or
(z) the Company’s material breach of a material provision of this Agreement, which breach shall remain uncured for 30 days after written notice of such breach shall have been given to the Company. For purposes of this Agreement,
“Change of Control” shall mean any one of the following: (A) any “person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934 (the “Exchange Act”), other than a stockholder of
the Company immediately prior to the date of the completion of a Company IPO or a limited partner of Sunrise Capital Partners, L.P., becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of securities representing 50% or more of the total voting power represented by the Company’s then outstanding voting securities of the Company; (B) the consummation of any merger or consolidation of the Company with another corporation in
which the stockholders of the Company immediately prior to the merger or consolidation will not beneficially own immediately after the merger or consolidation shares entitling such stockholders to 50% or more of all votes to which all stockholders
of the surviving corporation would be entitled in the election of directors (without consideration of the rights of any class of stock to elect directors by a separate class vote), or where the members of the Board immediately prior to the merger or
consolidation would not immediately after the merger or consolidation constitute a majority of the board of directors of the surviving corporation; (C) the consummation of a sale or other disposition of all or substantially all of the assets of
the Company to an entity that is not either a subsidiary of the Company or an entity whose stockholders and other equity holders, individually, have the same equity interests in the Company and the acquiring company; or (D) a liquidation or
dissolution of the Company. 
 (c) Disability. If (i) due to illness, physical or mental disability, or other
incapacity, Executive shall fail for a period of three months to perform the principal duties required by this Agreement or (ii) Executive is entitled to receive benefits under a disability income insurance policy sponsored by the Company, the
Company may terminate Executive’s employment effective immediately upon the giving of written notice to Executive. In such event, Executive shall be (A) paid his Base Compensation through the date of termination, and (B) provided with
the employee benefits pursuant to Paragraph 4 through the date of termination. 
 (d) Death. In the event of
Executive’s death during his employment under this Agreement, this Agreement shall automatically terminate, and Executive’s estate shall be paid his Base Compensation through the date of death and be provided his benefits pursuant to
Paragraph 4 through the date of death. 

 7. Noncompetition, Noninterference and Nonsolicitation. 
 (a) During Executive’s employment with the Company and (i) for a period of one year following termination of Executive’s
employment with the Company for Cause or following a resignation by Executive without Good Reason, (ii) for a period of one year following termination of Executive’s employment as a result of disability under Section 6(c) hereof;
(iii) if prior to a Change of Control, for a period of one year following termination of Executive’s employment with the Company without Cause or following the resignation by Executive for Good Reason, or (iv) if upon or after a
Change of Control, for a period of eighteen months following termination of Executive’s employment with the Company without Cause or following the resignation by Executive for Good Reason, Executive shall not engage in (as a principal, partner,
director, officer, agent, employee, consultant, owner, independent contractor or otherwise), or be financially interested in, any business related to the manufacture, sale and/or marketing of capital equipment used in the manufacturing of
semiconductor-related devices which is reasonably, directly or indirectly, in competition with the Company; provided however, that the foregoing restrictions shall not prevent Executive from holding for investment no more than 5% of any class of
equity securities of a company whose securities are publicly traded on a national securities exchange or in the over-the-counter market. 
 (b) During his employment and for a period of one year following termination of Executive’s employment for any reason, Executive shall not solicit, induce or encourage any person or entity who was at the time of
or within 12 months prior to termination of Executive’s employment an employee, consultant, independent contractor, supplier or customer of the Company or person or entity otherwise doing business with the Company to cease to do business with
the Company, reduce the amount of business with the Company or cease to be employed by the Company. 
 (c) Executive agrees
that if any portion of the foregoing covenants, or the application thereof, is construed to be invalid or unenforceable, the remainder of such covenant or covenants or the application thereof shall not be affected and the remaining covenant or
covenants will then be given full force and effect without regard to the invalid or unenforceable portions. If any covenant is held to be unenforceable because of the area covered, the duration thereof or the scope thereof, Executive agrees that the
court making such determination shall have the power to reduce the area and/or the duration and/or limit the scope thereof, and the covenant shall then be enforceable in its reduced form as is adjudged to be reasonable by the court. If Executive
violates any of the restrictions contained in the foregoing subparagraphs, the restrictive period shall not run in favor of Executive from the time of the commencement of any such violation until such time as such violation shall be cured by
Employee to the satisfaction of the Company. 
 (d) Executive acknowledges that the restrictions contained in the foregoing
Paragraphs 7(a) and 7(b), in view of the nature of the business in which the Company is engaged, are reasonable and necessary in order to protect the legitimate interests of the Company, and that any violation thereof would result in irreparable
injuries to the Company, and Executive therefore acknowledges that, in the event of Executive’s violation of any of these restrictions, the Company shall be entitled to obtain from any court of competent jurisdiction preliminary and permanent
injunctive relief as well as damages and an equitable accounting of all earnings, 

 
profits and other benefits arising from such violation, which rights shall be cumulative and in addition to any other rights or remedies to which the Company
may be entitled. Executive further acknowledges and represents that Executive possesses skill and ability which can be applied in business areas which do not compete with the Company, and therefore, the restrictions contained in this Agreement will
not prevent him from securing gainful employment after termination of this Agreement. 
 8. Confidential Information; Inventions
Agreement. 
 (a) All advertising, sales, manufacturers’ and other materials or articles or information, including
without limitation data processing reports, customer sales analyses, invoices, price lists or information, samples, or any other materials or data of any kind furnished to Executive by the Company or developed by Executive on behalf of the Company
or at the Company’s direction or for the Company’s use or otherwise in connection with Executive’s employment hereunder (collectively, “Company Information”), are and shall remain the sole and confidential property of the
Company; if the Company requests the return of Company Information at any time during Executive’s employment or upon or after the termination of Executive’s employment, Executive shall immediately deliver such Company Information to the
Company. 
 (b) During the term of this Agreement and at all times thereafter, Executive shall not use for Executive’s
personal benefit, or disclose, communicate or divulge to, or use for the direct or indirect benefit of any person, firm, association or company other than the Company, any Company Information or any confidential and/or proprietary information
regarding the business methods, business policies, procedures, techniques, research or development projects of the Company, trade secrets or other knowledge, processes of or developed by the Company, any names and addresses of customers or clients,
any data on or relating to past, present or prospective customers or clients, or any other confidential information relating to or dealing with the business operations or activities of the Company made known to Executive or learned or acquired by
Executive while in the employ of the Company. Notwithstanding the foregoing, it is understood that this Paragraph 8(b) is not intended to cover information that is generally known in the trade or industry (other than through a breach of this
Agreement) or information that is not gained as a result of a breach of this Agreement. 
 (c) Any and all writings,
inventions, improvements, processes and/or techniques which Executive may make, conceive, discover or develop, either solely or jointly with any other person or persons, at any time during the term of this Agreement, whether during working hours or
at any other time and whether at the request or upon the suggestion of the Company or otherwise, which relate to or are useful in connection with any business now or hereafter carried on or contemplated by the Company, including developments or
expansions of its present fields of operations, shall be the sole and exclusive property of the Company. Executive shall make full disclosure to the Company of all such writings, inventions, improvements, processes, procedures and techniques, and
shall do everything necessary or desirable to vest the absolute title thereto in the Company. Executive shall write and prepare all specifications and procedures regarding such inventions, improvements, processes, procedures and techniques and
otherwise aid and assist the Company so that the Company can prepare and present applications for copyright or patent therefor and can secure such copyright or patent 

 
wherever possible, as well as reissues, renewals and extensions thereof, and can obtain the record title to such copyright or patents so that the Company
shall be the sole and absolute owner thereof in all countries in which it may desire to have copyright or patent protection. Executive shall not be entitled to any additional or special compensation or reimbursement regarding any and all such
writings, inventions, improvements, processes, procedures and techniques. 
 9. Lock-Up Agreement. In the event of a Company IPO,
Executive agrees that he will execute a lock-up agreement restricting the right of Executive or any “affiliate” (as such term is defined in Rule 144 of the Securities Act of 1933) of Executive to sell, transfer or otherwise convey his
Common Stock or Options, the form of which agreement shall be negotiated between the underwriters in such Company IPO and the Company. 
 10.
Miscellaneous. 
 (a) Entire Agreement. This Agreement constitutes the entire agreement between the parties
hereto with respect to the matters set forth herein and supersedes and renders of no force and effect all prior understandings and agreements between the parties with respect to the matters set forth herein. No amendments or additions to this
Agreement shall be binding unless in writing and signed by both parties. 
 (b) Assignment; Binding Effect. This
Agreement is personal in nature and neither of the parties shall, without the consent of the other, assign or transfer this Agreement or any rights or obligations hereunder; provided, however, the Company may assign this Agreement upon (i) the
sale of all or substantially all of the Company’s assets or (ii) a merger or consolidation involving the Company. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors (including
successors by merger, consolidation or similar transactions), permitted assigns, personal representatives, heirs, executors and administrators. 
 (c) Severability. If any part of this Agreement is contrary to, prohibited by, or deemed invalid under applicable law or regulations, such provision shall be inapplicable and deemed omitted to the extent so
contrary, prohibited or invalid, but the remainder of this Agreement shall not be invalid and shall be given full force and effect so far as possible. 
 (d) Waiver. The failure or delay of any party at any time to require performance by the other party of any provision of this Agreement, even if known, shall not affect the right of such party to require
performance of that provision or to exercise any other right, power or remedy hereunder, and any waiver by any party of any breach of any provision of this Agreement shall not be construed as a waiver of any continuing or succeeding breach of such
provision, a waiver of the provision itself or a waiver of any other right, power or remedy under this Agreement. No notice to or demand on any party in any case shall, of itself, entitle such party to any other or further notice or demand in
similar or other circumstances. 
 (e) Governing Law. This Agreement and its construction, performance and
enforceability shall be governed by, and construed in accordance with, the laws of the Commonwealth of Pennsylvania, without regard to any conflict of law provisions. 

 (f) Headings. Headings and titles herein are included solely for convenience and
shall not affect, or be used in connection with, the interpretation of this Agreement. 
 (g) Notices. All notices
called for under this Agreement shall be in writing and shall be deemed given upon receipt if delivered personally or by facsimile transmission or mailed by registered or certified mail (return receipt requested), postage prepaid, to the parties at
the following addresses: 
  

			
	If to Executive:	  	Michael Ioannou
		  	_____________________________
		  	_____________________________
		
	If to the Company:	  	Akrion, Inc.
		  	6330 Hedgewood Drive, Suite 150
		  	Allentown, PA 18106
		  	Telecopy : __________________
		  	Attn: Chief Executive Officer
		
	with a copy to:	  	Richard J. Busis, Esquire
		  	Cozen O’Connor
		  	1900 Market Street
		  	Philadelphia, PA 19103
		  	Telecopy: (215) 665-2013

 or to any other address or addressee as any party entitled to receive notice under this Agreement shall designate,
from time to time, to the other in the manner provided in this Paragraph 10(g) for the service of notices. 
 (h)
Counterparts. This Agreement may be executed in one or more counterparts and by facsimile, each of which counterparts and/or facsimiles shall be deemed to be an original, and all such counterparts and facsimiles shall constitute one and the
same instrument. 
 IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the date first above written. 
  

			
	AKRION, INC.
		
	By:	 	/s/ Peter S. Kirlin
		 	 Name: Peter S. Kirlin
 Title:   Executive
Chairman

  

			
	
	/s/ Michael Ioannou
	MICHAEL IOANNOU

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