Document:

License and Manufacturing Agreement

 Exhibit 10.3 
 CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 
 LICENSE AND MANUFACTURING AGREEMENT 

This LICENSE AND MANUFACTURING AGREEMENT (this “Agreement”) is made this 24th day of April, 2012 by
and between by and between Powerwave Technologies, Inc., a Delaware corporation whose principal office is at 1801 E. St. Andrew Place, Santa Ana, California 92705 (“Licensor”), on the one hand, and Shenzen Tatfook Technology Co.,
Ltd., a company established under the laws of the People’s Republic of China, whose principal office is at
3rd Industrial Area of Shajing Industrial Company,
Haoziang Road, Shajing Town, Bao’ an District, Shenzhen, 518104, Peoples Republic of China (“Licensee”), on the other hand. (Licensor and Licensee are hereinafter collectively referred to as the “Parties,” and
each individually as a “Party.”) 
 RECITALS 

WHEREAS, Licensor and Licensee intend to enter into this License and Manufacturing Agreement, wherein Licensee shall be granted
certain rights to manufacture, distribute and sell the Licensed Products (as hereinafter defined) on the terms and conditions set forth herein. 
 NOW, THEREFORE, to effectuate the foregoing objectives of the parties, Licensor and Licensee agree to the following satisfactory terms and conditions. 

AGREEMENT 

ARTICLE 1: DEFINITIONS 
 The following definitions of terms apply in this Agreement: 
 1.1.
“Agreement” shall mean this Agreement. 
 1.2. “Commercially Reasonable Efforts” shall mean,
with respect to a given obligation, the efforts that a reasonable person in the promisor’s position would use so as to perform that obligation as expeditiously as reasonably possible 

1.3. “Contract Year” shall mean any given contract year in either an initial term or a renewal term of this Agreement as
defined in Section 7.1 hereof. The first Contract Year shall commence on the Effective Date. 
 1.4.
“Copyrights” shall mean shall mean all registered and unregistered copyrights, copyrightable works, mask works, and writings and other works of authorship embodied in tangible form, related to Licensed Products, owned or controlled
by Licensor during the Term in any jurisdiction, including any applications relating to any of the foregoing, as applicable, and any renewals of any of the foregoing. 
 1.5. “Effective Date” shall mean the date on which the Agreement goes into force. 

 1.6. “Force Majeure Event” shall mean any natural disaster, decrees of
governmental bodies and actions such as storms, floods, other acts of God, fires, explosions, riots, war or civil disturbances, strikes or other labor unrest, embargoes and other governmental actions or regulations which prevent or prohibit either
party from performing the obligations under this Agreement. 
 1.7. Omitted. 

1.8. “Improvement(s)” shall mean any enhancement, improvement, modification, derivative work or redesign relating to, or
based on, the Licensed Products, or the method or process of manufacture or production of the Licensed Products. 
 1.9.
“Inventory” shall mean Licensee’s inventory of finished Licensed Products and Licensed Products that are in production. 
 1.10. “Know-how” shall mean all unpatented technical information, knowledge, know-how and data useful or necessary to enable Licensee to manufacture Licensed Products. 

1.11. “Licensed Intellectual Property” shall mean collectively, all Copyrights, Know-how and Patents. 

1.12. “Licensed Products” shall mean those products referenced on Exhibit A hereto, as such Exhibit may be
amended by Licensor from time to time. 
 1.13. “Licensee Confidential Information” shall mean any and all
information which concerns or relates to the business of the Licensee and is, for any reason, identified or otherwise treated as confidential by the Licensee, except such information which the Licensor can prove was: (a) in the public domain
prior to the date of this Agreement; (b) became publicly known after date of this Agreement through no fault of Licensor; (c) was known and documented by Licensor prior to the start date of this Agreement, and with respect to which
Licensor was not and is not under any obligation of confidentiality; (d) was disclosed to Licensor, without restriction on disclosure or use, by a third party which is not under any obligation of confidentiality; or (e) constitutes
Licensed Intellectual Property. 
 1.14. “Licensor Confidential Information” shall mean any and all information
including the Licensed Intellectual Property and Product and Process Documentation which concerns or relates to any aspect of the Licensed Products or the business of the Licensor and is, for any reason, identified or otherwise treated as
confidential by Licensor, except such information which Licensee can prove was: (a) in the public domain prior to the date of this Agreement; (b) became publicly known after date of this Agreement through no fault of Licensee; (c) was
known and documented by Licensee prior to the start date of this Agreement, and with respect to which Licensee was not and is not under any obligation of confidentiality; or (d) was disclosed to Licensee, without restriction on disclosure or
use, by a third party which is not under any obligation of confidentiality. 
 1.15. “Net Sales” shall mean the
total amount invoiced by Licensee for sales of the Licensed Products, excluding any and all charges for freight, handling, special packaging, taxes, and insurance. 

  
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 1.16. “Patents” shall mean any and all patents and patent applications,
related to Licensed Products, owned or controlled by Licensor during the Term in any jurisdiction, including, without limitation, (i) the patents and patent applications (and all patents issuing therefrom) and; (ii) any continuing
applications thereof including divisionals, continuations, continuations-in-part, reissued and reexamined patents; and (iii) all corresponding foreign patents or patent applications. 

1.17. “Product and Process Documentation” shall mean the documentation provided by Licensor to be used by Licensee to
manufacture the Licensed Products, including bills of material, approved vendor list (AVL), assembly drawings, line layouts, process documentation, quality and inspection plans, test processes, and packaging requirements. 

1.18. “Royalty” shall mean the royalty payments set forth in Exhibit B. 

1.19. “Term” shall mean the time period for which this License shall be effective, as set forth in
Article 7. 
 1.20. “Territory” shall mean the People’s Republic of China. 

1.21. “Unit” shall mean a single Licensed Product. 

1.22. “Work” means all labor, equipment, materials, methods, engineering and services required by or reasonably
inferable from this Agreement, and the exercise of its rights and carrying out of all obligations imposed by this Agreement. 

1.23 “Affiliate” means of any particular Person means any other Person controlling, controlled by or under common
control with such particular Person where “control” means the possession, directly or indirectly, of power to direct the management and policies of a Person whether through the ownership of voting securities, contract, family relationship
or otherwise. 
 1.24 “Person” means and includes an individual, a partnership, a joint venture, a limited
liability company, a corporation or trust, an unincorporated organization, a group, or a government or other department or agency thereof or any entity. 
 1.25 “Business” means the sale of custom OEM BTS filters listed on Exhibit C hereto 
 ARTICLE 2: LICENSE GRANTS 
 2.1. License. Subject to the terms and
conditions of this Agreement, Licensor hereby grants to Licensee an exclusive, non-transferable, non-assignable license, with a right to sublicense, to use the Licensed Intellectual Property to make, use, sell, offer to sell and promote the Licensed
Products solely in the Territory; provided that the foregoing license shall not include any rights to develop or produce any Improvements and in the event that Licensee desires to obtain a license to develop or produce any Improvements, such
license, if any, shall be granted pursuant to a separate license agreement to be mutually agreed and to be entered into between the Parties. 
 2.2. License Term. All licenses granted in this Article 2 shall be for the Term of this Agreement, unless earlier terminated as set forth herein. 

  
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 2.3. Best Efforts. At all times while this Agreement is in effect, Licensee shall use
its best efforts to exploit the licenses granted hereunder throughout the Territory, including but not limited to (a) offering for sale the Licensed Products in a fashion so that they shall be sold on a timely basis, and (b) maintaining a
sales force sufficient in number and appropriate training, skill or experience to provide effective distribution throughout all areas of the Territory (sales force can include independent sales representatives). 

2.4. Branding. All Licensed Products marketed, promoted and sold by Licensee hereunder shall be marketed, promoted and sold solely
under Licensee’s branding and trademarks and in no event shall any of the Licensed Products, any advertising or marketing materials relating to the Licensed Products or any packaging for the Licensed Products contain or bear any branding or
trademarks of Licensor’s, or any marks that are similar to any branding or trademarks of Licensor’s; provided, however, that the Licensed Products and any packaging for the Licensed Products shall bear such proprietary notices with respect
to Licensed Intellectual Property as may be required by Licensor from time to time. In addition, Licensee may indicate that the Licensed Products are manufactured under a license from Powerwave Technologies, Inc. 

2.5. Licensee’s Duty to Not Authorize Third Party Use of Licensed Intellectual Property. Licensee shall not permit or
authorize use of the Licensed Intellectual Property in such a way as to give the impression that such, or any modifications thereof, are the property of the Licensee. 
 2.6. Compliance With Law. In connection with its performance hereunder, Licensee agrees not to make any payment or gift to government officials or employees in violation of local laws or the United
States Foreign Corrupt Practices Act. In addition, the Parties shall comply with all applicable export laws and regulations (including U.S. export laws and regulations) in connection with the Licensed Products and each Party agrees that, it will
obtain all necessary licenses or approvals from the U.S. Government prior to the: (i) transfer, export or re-export, directly or indirectly, of any Licensed Products or technical data or any direct product of that technical data, or
(ii) disclosure of any technical data acquired from Licensor to any Third Country National, which shall mean any person or company who is a citizen or permanent resident of any country that is subject to U.S. economic sanctions or that is
subject to restrictions under the U.S. Export Administration Regulations. Licensee will obtain Licensor’s written consent for any re-export or re-transfer of Licensed Products and technical data, as well as for any disclosure of technical
data to a Third Country National. Under no circumstances may Licensee export or re-export any Licensed Products or technical data to countries, persons, or entities that are subject to U.S. economic sanctions or that are subject to restrictions
under the U.S. Export Administration Regulations. Countries subject to broad economic sanctions currently include Cuba, Iran, Libya, North Korea, Sudan and Syria. 
 2.7. Restriction on Sale. In consideration of the license and rights granted herein, Licensee shall not and shall cause each Affiliate of Licensee to not during the term of this Agreement
commercially manufacture, sell or market products outside of the Territory that have substantially the same functional attributes of the Licensed Products. Notwithstanding the above, Licensee may manufacture, market and sell products that are part
of the Business outside of the Territory. 

  
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 ARTICLE 3: QUALITY AND STANDARDS 

3.1. High Standards of the Licensed Products. Licensee shall use its best efforts to maintain the high quality standards of the
Licensed Products, in all aspects of manufacturing, advertising, packaging and promotion of the Licensed Products. Licensee shall ensure that the manufacturing, advertising, packaging and promotion of the Licensed Products are carried out in
accordance with the relevant laws, standards, regulations, rules and codes of practice valid for the Licensed Products in the Territory. Licensor shall have the right to approve the quality of all Licensed Products before the launch and marketing of
the Licensed Products by Licensee. Within ninety (90) calendar days of the execution of this Agreement, Licensee shall submit to Licensor at its own cost two samples of the Licensed Products that conform to the Product and Process Documentation
for written approval or disapproval by Licensor, which shall be given within ten (10) working days after Licensor has received such samples. Licensee agrees that, with respect to all Licensed Products manufactured or sold by it, the same will
be of high quality workmanship, fit, design and materials used therein, and shall be at least equal in quality, workmanship, fit, design and materials to the samples of Licensed Products approved by Licensor pursuant to this Agreement. 

3.2. Changes. Licensor shall have the right to make reasonable changes in the Product and Process Documentation of the Licensed
Products upon, if practicable, at least thirty (30) days’ written notice specifying in detail the requested change. Licensee shall provide the Licensed Products in conformance with any such changes as soon as reasonably possible but not
later than thirty (30) calendar days from being notified of such change. In the event that the Licensee deems any change requested by Licensor to cause an increase in cost or time required for performance of any part of this Agreement,
Licensee, within fifteen (15) calendar days of receipt of the change order, may, in writing, object to the change. This written objection shall include a detailed explanation of the basis for objection, and any proposed adjustment to be made to
the price, performance time, or both. Licensor shall consider the objection in good faith, and shall reply in writing, accepting or rejecting the objection. If Licensor in good faith rejects the objection, Licensee shall provide the Licensed
Products in conformance with such changes within thirty (30) calendar days of the rejection. If the Licensee disagrees, the matter will be resolved pursuant to Section 15.9. 

3.3. Licensor’s Control Over Quality. Licensee agrees that Licensor has the right to control the quality of Licensed
Products, and that Licensor has sole discretion (not to be unreasonably exercised) to determine in good faith whether the Licensed Products meet the quality standards of this Article. If Licensor determines the quality standards of this Article have
not been met, Licensor shall notify Licensee in writing of the details of such quality failure. Licensee shall take immediate measures to correct the failure. In the event the Licensee disagrees with Licensor’s determination of a quality
failure, Licensee has a right within the seven (7) working days after receipt of Licensor’s written notice of quality failure to notify Licensor of such disagreement and submit the sole issue of whether or not Licensor has reasonably
determined there exists a quality failure to arbitration pursuant to this Agreement. In the event the quality failure, which is or may give rise to material adverse consequence, is not corrected, Licensor may consider such a material default or
breach, and this Agreement will be subject to termination as provided in Article 9. 
 3.4. Inspection of Manufacturing
Facilities. Licensee recognizes the right of the Licensor to inspect product quality and hereby authorizes the Licensor to inspect the manufacture and assembly of the Licensed Products made by Licensee. Licensee will permit the Licensor, and its

  
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agent, at Licensor’s own expense, on ten (10) calendar days’ notice to visit Licensee’s factory and offices involved in the manufacture or sale of Licensed Products for such
periods as may be reasonable and during normal business hours to inspect the Licensed Products being made by Licensee to ensure said Licensed Products meet the quality standards of Licensor on a confidential basis. The inspection shall be led by the
Licensee’s representative and shall be conducted in accordance with Licensee’s standard procedures. 
 3.5.
Licensee’s Duty to Collect and Provide Samples. Licensee shall collect at least two samples of the Licensed Product from each production run of the Licensed Products by the Licensee. All such samples shall be dated and kept at the
Licensee’s facilities and made available for inspection at the time of Licensor’s inspection of the Licensee’s facilities. In addition, Licensee shall supply samples of Licensed Products for inspection and approval by Licensor on a
quarterly basis or as may be reasonably requested, from time to time, by Licensor during the Term. 
 ARTICLE 4: SALES AND
MARKETING 
 4.1. Sales/Marketing and Production Plans. On the date marking the commencement of the first and third
quarters of each Contract Year during the Term, Licensee will submit to Licensor, for Licensor’s review, a schedule showing in reasonable detail the projected sales and marketing plans for the Licensed Products for each of the next two
quarterly periods (the “Sales Plan”). Licensee shall use best efforts to comply with the Sales Plan. 
 4.2.
Sales Reports. Within thirty (30) calendar days after the end of each quarter within a Contract Year, Licensee shall provide to Licensor a detailed listing of all sales made by Licensee of Licensed Products, broken out by Licensed
Product, customer, sales region and showing the dollar amount of each sale and the relationship of sales for such quarter as compared to the same quarter for the preceding Contract Year (“Sales Report”). In the event sales for three
consecutive declining quarters evidence a substantial decline in any sales region, Licensor may request Licensee to submit, for Licensor approval, a marketing plan which addresses the decline. Such statements shall include all aggregate gross sales,
trade discounts, merchandise returns, damaged merchandise and net sales prices of all sales for the previous quarter. Each Sales Report furnished by Licensee shall be certified by Licensee’s Chief Financial Officer or Controller. 

4.3. Advertising. Licensee agrees to use its best efforts to advertise and promote the Licensed Products. 

4.4. Approval of Advertising Materials. All advertising materials proposed to be used by Licensee in connection with Licensed
Products shall be submitted to Licensor for prior review and approval. Any approval granted hereunder shall be limited in scope to the proposed use by the Licensee. Any additional uses of the advertising materials that were not part of the initial
request to Licensor shall also require Licensor’s prior written approval. Samples of advertising materials, and samples of any material and substantial revisions, changes, modifications or substitutions thereof, shall be submitted to Licensor
more than twenty (20) working days before the intended use of any such submitted materials. All such requests for approval shall be accompanied by at least two (2) samples of the object for which approval is sought at Licensee’s cost
and expense. Licensee agrees that if neither rejection nor approval is forthcoming from Licensor within twenty (20) days from receipt by Licensor, such material shall be deemed disapproved and agrees not to use such disapproved samples.

  
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 ARTICLE 5: LICENSE FEES AND ACCOUNTING 

5.1. Up-Front License Fee. Upon execution of this Agreement and subject to the approval from the relevant tax and foreign exchange
authorities in China and other applicable regulatory authorities (the “Authorities”), Licensee shall pay to Licensor a one time, up-front, non-recoupable license fee equal to Five Million Dollars ($5,000,000), by wire transfer to an
account designated by Licensor. Licensor hereby acknowledge that it may take more than twenty (20) working days for Licensee to obtain the necessary approvals from the Authorities for remittance of the Up-front License Fee to Licensor (the
“Approvals”), and the Authorities may require necessary explanation, and if applicable, adjustments to the payment of the Up-front License Fee. If the Authorities require an adjustment to the Up-front License Fee, the licenses
granted in this Agreement shall be void and have no effect unless the Parties mutually agree to the adjustment and such other provisions requested by either Party as a result of the adjustment. Licensor agrees to use its best effort to assist
Licensee in obtaining the Approvals. 
 5.2. Amount of Royalty. The Licensee shall pay the Licensor a Royalty as set
forth in Exhibit B. Royalties are due in quarterly installments within thirty (30) calendar days of the end of each quarter within a Contract Year in which Licensed Products were sold if no approval is required by the SAFE Authority and
within sixty (60) calendar days of the end of each quarter within a Contract Year in which Licensed Products were sold if approval of the payment is required by the SAFE Authority. 

5.3. Omitted. 
 5.4. Method of Paying Royalties to Licensor. All Royalties due hereunder shall be paid to the Licensor at 1801 E. St. Andrew Place, Santa Ana, California 92705, in United States dollars without any
transfer charges. Licensor shall have the right to require the Licensee to make payment to any bank designated by Licensor. Licensor shall also have the right to require that payment be made by wire transfer. If any payment is rejected by the
Licensee’s bank, the Licensor may demand subsequent payments to be made by certified checks. 
 5.5. Penalty on
Delinquent Payments. If the payment of any installment of Royalties or any other fee due under this Agreement is delinquent, interest shall accrue on the unpaid principal amount of such installment from and after the date which is ten
(10) calendar days after the date the same became due at five percent (5%) per annum. 
 5.6. Accounting. For
the entire term of this Agreement, Licensee shall keep and maintain appropriate books and records of account, in accordance with GAAP (as defined in Section 9.2 below), sufficient to enable accurate calculations of Royalties due to Licensor and
to audit the quarterly Sales Reports. 
 5.7. Identification Number on Licensed Products. Licensed Products shall have a
number that is unique from Licensee’s other products, and such unique identification shall be used in Licensee’s accounting system. If any unit numbers of Licensee’s other products are the same as those used on Licensor’s
products, Licensee bears all expense and responsibility for changing the numbering system on Licensee’s other products to eliminate duplication. 

  
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 5.8. Licensor’s Authority to Audit Licensee. Licensor and its duly authorized
representatives, at Licensor’s own expense, on ten (10) calendar days’ prior written notice, shall have the right for the duration of the Agreement and for three (3) years thereafter, during regular business hours, to examine the
books of account and records and all other documents, materials, and inventory in the possession or under the control of Licensee with respect to all subject matters relevant to this Agreement. All such books of account, records and documents shall
be maintained and kept available by Licensee for at least the duration of this Agreement and for at least three (3) years thereafter. Licensor shall have sufficient access thereto and shall have the right to make copies therefrom. If as a
result of any examination of Licensee’s books and records it is shown that Licensee’s payments to Licensor hereunder with respect to any twelve (12) month period were less than the amount which should have been paid to Licensor by
greater than Five Percent (5%) of the amount which would have been paid during such twelve (12) month period, Licensee shall, in addition to reimbursement of any underpayment with interest from the date on which each payment was due at the
rate set forth in Section 5.5 hereof, promptly reimburse Licensor for the cost of such examination without prejudice to any other remedies or claims of Licensor. 
 ARTICLE 6: REPRESENTATIONS AND WARRANTIES 
 6.1. Licensor’s Express
Warranties. Licensor hereby expressly warrants all of the following: 
  

	 	A.	Licensor warrants that it is the legal, entire and sole owner of the Licensed Intellectual Property; that it has the right to license the rights granted under this
Agreement, that it has obtained any and all necessary permissions from third parties to license the Licensee to and to sublicense to use the Licensed Intellectual Property to make, use, sell, offer to sell and promote the Licensed Products, and that
use of the Licensed Intellectual Property and Product and Process Documentation by Licensee in accordance with the terms of this Agreement shall not infringe the copyright, patent, trade secret, trademark of any third party. The Licensor shall
indemnify and hold Licensee harmless from and against any losses, claims, damages, awards, penalties, or injuries incurred, including reasonable attorney’s fees and expenses, which arise from any claim by any third party of an alleged
infringement of copyright, patent, trade secret, trademark or any other property right arising out of the use of the Licensed Intellectual Property and Product and Process Documentation by the Licensee in accordance with the terms of this Agreement.
This indemnity shall survive the termination of this agreement. NO LIMITATION OF LIABILITY SET FORTH ELSEWHERE IN THIS AGREEMENT IS APPLICABLE TO THIS INDEMNIFICATION. 

 

	 	B.	Licensor will maintain the Licensed Intellectual Property during the term of this Agreement, including but not limited to preparation, filling, prosecuting and
maintenance of Licensed Intellectual Property, and Licensor shall indemnify Licensee’s damages and losses which are caused by Licensor’s such failure. 

  
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	 	C.	Licensor will offer reasonable continuing support to assist Licensee in use of the Licensed Intellectual Property. Licensor will make its personnel available by email,
phone or fax, from time to time, for feedback, problem-solving, or general questions. Licensor will provide reasonable training to Licensee staff relating to the use of the Licensed Intellectual Property and Product and Promotion Documentation.

  

	 	D.	Omitted. 

  

	 	E.	It has the full right, power and authority to enter into this Agreement and to perform all of its obligations hereunder; 

 

	 	F.	It is financially capable of undertaking the business operations which it conducts and of performing its obligations hereunder; 

 

	 	G.	It is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation; and 

 

	 	H.	All necessary corporate acts have been effected by it to render this Agreement valid and binding upon it. 

6.2. Licensee’s Express Warranties. Licensee hereby expressly warrants all of the following: 

A. That the Licensed Products shall be in material compliance with the Product and Process Documentation; 

B. That the Licensed Products will be of good material and workmanship and will be free of defects in material and workmanship;

 C. That the Licensed Products and the Work done comply with all applicable laws in force on the date the Licensed Products
are produced; 
 D. It has the full right, power and authority to enter into this Agreement and to perform all of its
obligations hereunder; 
 E. It is financially capable of undertaking the business operations which it conducts and of
performing its obligations hereunder; 
 F. It is a corporation duly organized, validly existing and in good standing under the
laws of the jurisdiction of its incorporation; and 
 G. All necessary corporate acts have been effected by it to render this
Agreement valid and binding upon it. 

  
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 ARTICLE 7: TERM 

7.1. Term. Subject to termination as provided in this Agreement, the initial term of this Agreement is Seven Contract Years (the
“Initial Term”). If Licensee fully performs in accordance with all the terms and conditions hereof, Licensee shall have three consecutive options to renew this Agreement for one consecutive Contract Year, respectively (each a
“Renewal Term” and collectively the “Renewal Terms”). The Initial Term and all Renewal Terms, if any, shall be referred to herein as the “Term.” 

ARTICLE 8: INSOLVENCY 
 8.1. Effect of Proceeding in Bankruptcy, Etc. If either Party institutes for its protection or is made a defendant in any proceeding under bankruptcy, insolvency, reorganization or receivership
law, or if either Party is placed in receivership or makes an assignment for benefit of creditors or is unable to meet its debts in the regular course of business, the other Party may elect to terminate this Agreement immediately by written notice
to the other Party without prejudice to any right or remedy the terminating Party may have, including, but not limited to, damages for breach to the extent that the same shall be recoverable. 

8.2. Rights Granted Are Personal to Licensee. The licenses granted hereunder are personal to Licensee. No assignee for the benefit
of creditors, receiver, trustee in bankruptcy, sheriff or any other officer or court charged with taking over custody of Licensee’s assets or business, shall have any right to continue performance of this Agreement or to exploit or in any way
use of Licensed Intellectual Property or other rights hereby licensed if this Agreement is terminated pursuant to Section 8.1, except as shall be required by law. 
 ARTICLE 9: TERMINATION 
 9.1. Termination. Either Party may
terminate this Agreement effective upon written notice to the other if the other Party violates any covenant, agreement, representation or warranty contained herein in any material respect or defaults or fails to perform any of its obligations or
agreements hereunder in any material respect, which violation, default or failure is not cured within thirty (30) calendar days after notice thereof from the non-defaulting Party stating its intention to terminate this Agreement by reason
thereof. 
 9.2. Effect of Termination. 
 A. All rights and obligations of the Parties shall cease to have effect immediately upon termination of this Agreement except that termination shall not affect: 

(i) the accrued rights and obligations of the Parties at the date of termination; and 

(ii) the continued existence and validity of the rights and obligations of the Parties under those clauses which are expressed to
survive termination and any provisions of this Agreement necessary for the interpretation or enforcement of this Agreement. 

  
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 B. Immediately upon termination, for any reason whatsoever, or expiration, of this
Agreement, Licensee agrees to cease all manufacture and sale of the Licensed Products and use of Licensed Intellectual Property and deliver a list detailing the entire Inventory (“Inventory List”) to Licensor. Inventory List shall
be prepared as of the close of business on the date of such termination and shall reflect the landed, duty paid cost of each such item, as accounted for in Licensee’s books according to the generally accepted accounting principles commonly
adopted in the PRC, excluding for the purpose of this Agreement Hong Kong, Macau and Taiwan (“GAAP”). Except for termination of this Agreement pursuant to Section 8.1, notwithstanding the other provisions of this Article 9,
Licensor thereupon shall have the option exercisable by notice in writing delivered to Licensee within thirty (30) calendar days after its receipt of the Inventory List, to purchase any or all of the Inventory for an amount equal to the landed,
duty paid cost. If Licensor sends such notice to Licensee, Licensor may collect and pay for the Licensed Products within thirty (30) calendar days. If Licensor does not exercise the option (or only exercises it partially) Licensee has the
non-exclusive right to sell such remaining Licensed Products within the Territory until all remaining Inventory is consumed (“Sell-off Period.”) All applicable provisions of this Agreement, including the obligation to pay Royalty,
shall continue to be in force for such period. 
 C. Upon termination of this Agreement Licensee shall promptly return to
Licensor or otherwise dispose of as Licensor may instruct, all samples, moulds, instruction books, technical pamphlets, catalogues, advertising materials, Product and Process Documentation and other materials, documents or papers whatsoever relating
to the intellectual property rights of Licensor or the Licensed Products (other than correspondence which has passed between the Parties) which Licensee may have in its possession or under its control. 

9.3. Force Majeure Event. For purposes of this Agreement, a “Force Majeure Event” shall mean the occurrence of
unforeseen circumstances beyond a Party’s control and without such Party’s negligence or intentional misconduct, including, but not limited to, any act by any governmental authority, act of war, natural disaster, strike, boycott, embargo,
shortage, riot, lockout, labor dispute, and civil commotion 
 A. Neither Party shall be responsible for any failure to perform
due to a Force Majeure Event provided that such Party gives notice to the other Party of the Force Majeure Event as soon as reasonably practicable, but not later than five (5) calendar days after the date on which such Party knew or should
reasonably have known of the commencement of the Force Majeure Event, specifying the nature and particulars thereof and the expected duration thereof; provided, however, that the failure of a Party to give notice of a Force Majeure Event shall not
prevent such Party from relying on this Section except to the extent that the other Party has been prejudiced thereby. 
 B. The
Party claiming a Force Majeure Event shall use Commercially Reasonable Efforts to mitigate the effect of any such Force Majeure Event and to cooperate to develop and implement a plan of remedial and reasonable alternative measures to remove the
Force Majeure Event; provided, however, that neither Party shall be required under this provision to settle any strike or other labor dispute on terms it considers to be unfavorable to it. Upon the cessation of the Force Majeure Event, the Party
affected thereby shall immediately notify the other Party of such fact, and use its Commercially Reasonable Efforts to resume normal performance of its obligations under the Agreement as soon as possible. 

  
 CERTAIN CONFIDENTIAL
INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

  
 11 

 C. Notwithstanding that a Force Majeure Event otherwise exists, the provisions of this
Section shall not excuse any obligation of either Party, including the obligation to pay money in a timely manner for Royalties earned hereunder or other liabilities actually incurred, that arose before the occurrence of the Force Majeure Event
causing the suspension of performance. 
 D. In the event a Party fails to perform any of its obligations for reasons defined in
this Section 9.3 for a cumulative period of thirty (30) calendar days or more from the date of such Party’s notification to the other Party then the other Party at its option may extend the corresponding delivery period for the
length of the delay. 
 9.4. Equitable Relief. The Parties agree that irreparable damage would occur if any provision of
this Agreement were not performed in accordance with the terms hereof and that the Parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy to which they are entitled at law or in equity. 

9.5. Termination Without Prejudice. Termination of this Agreement pursuant to and conditions hereof shall be without prejudice to
the terminating party’s other rights and remedies at law or in equity. 
 ARTICLE 10: INDEMNIFICATION AND LIMITATION OF
LIABILITY 
 10.1. Licensee. Each Party (the “Indemnifying Party”) shall indemnify and hold the
other Party (“Indemnified Party”) and its officers, agents and employees harmless from and against any and all liability, claims, causes of action, suits, damages and expenses, including reasonable attorneys’ fees and expenses
in actions involving third parties or between the parties hereto, which they, or any of them are or become liable for, or may incur, or be compelled to pay by reason of (a) any acts, whether of omission or commission, that may be committed or
suffered by the Indemnified Party or any of its servants, agents or employees in connection with the Indemnifying Party’s performance under this Agreement; and (b) any alleged or actual breach by the Indemnifying Party of its warranties,
representations, covenants and obligations to the Indemnified Party under this Agreement. 
 10.2. Limitation of
Liability. EXCEPT AS PROVIDED HEREIN, NO PARTY SHALL BE LIABLE TO ANY OTHER PARTY BY REASON OF THIS AGREEMENT OR ANY BREACH OR TERMINATION OF THIS AGREEMENT, FOR ANY INCIDENTAL, CONSEQUENTIAL, INDIRECT, PUNITIVE, EXEMPLARY OR SPECIAL DAMAGES
WHETHER ARISING OUT OF TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY, OR OTHERWISE, AND WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE FOR ANY LOSS OF PROSPECTIVE PROFITS OR INCIDENTAL, CONSEQUENTIAL INDIRECT,
PUNITIVE, EXEMPLARY OR SPECIAL DAMAGES. 
 10.3. Independent Covenants. The foregoing indemnity provisions of
Section 10.1 hereof shall be deemed independent covenants, and shall survive completion of or any termination or cancellation of this Agreement, or any claimed breach thereof. The Indemnified Party shall be entitled to be reimbursed by
the Indemnifying Party for all expenses, including reasonable attorneys’ fees paid or otherwise incurred to enforce the provisions of this Section. 

  
 CERTAIN CONFIDENTIAL
INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

  
 12 

 ARTICLE 11: INSURANCE 

11.1. Insurance to Be Obtained by Licensee. 
 A. As long as available in China Licensee shall maintain in effect at all times during the term of this Agreement insurance, including without limitation workers’ compensation, comprehensive general
liability, product liability, property damage, advertising liability, and automobile liability insurance against all losses, claims, demands, proceedings, damages, costs, charges and expenses for injuries or damages, costs, charges and expenses for
injuries to any person or property arising out of or in connection with this Agreement which are the result of the fault or negligence of Licensee, its agents and sublicensees. Such insurance shall be for coverage on an occurrence basis in the
amount of not less than Three Million Dollars ($3,000,000) for personal injury and One Million Dollars ($1,000,000) for property damage. Licensee shall also provide insurance covering theft and destruction of Licensed Products, as well as any other
insurance coverage customary within the Territory. 
 B. The specification of liability coverages and limits herein shall not
relieve or limit the responsibilities of Licensee under this Agreement. 
 C. Licensee is solely responsible for determining
whether additional coverage or greater limits are required to protect Licensee’s interests from hazards or claims in excess of the specified minimum insurance. Where special or unusual hazards peculiar to the Work are foreseeable, Licensee
shall take such steps as are necessary to insure itself against such hazards and be responsible for any damage which results from the occurrence of such hazards prior to the start of Work by Licensee. 

D. Licensee shall give thirty (30) calendar days’ advance written notice to Licensor in the event of cancellation or expiration
of the policy or of any material and substantial change in the policy. 
 E. Licensee shall, within thirty (30) calendar
days of the Effective Date, deposit with Licensor a complete package of certificates of insurance required under this Article signed by the insurer. None of the insurance required (to the extent available in China) hereunder shall be canceled,
changed or allowed to lapse until the Agreement has been completed. 
 F. Licensor or its successor or assign shall be named as
additional insureds. 
 ARTICLE 12: OWNERSHIP 
 12.1. Licensed Intellectual Property. Licensee acknowledges and agrees that Licensor is and shall remain the sole and exclusive owner of all Licensed Intellectual Property and Licensee acquires no
right, title or interest in the Licensed Intellectual Property. Except for those rights expressly granted in this Agreement, no other rights are granted, either express or implied, to Licensee. Licensee shall not, during the term of this Agreement
or thereafter, (a) attack Licensor’s title or rights in and to Licensed Intellectual Property, or (b) contest the fact that Licensee’s rights under this Agreement are solely those of a licensee, manufacturer and distributor and
such rights shall cease upon termination of this Agreement. The provisions of this Section shall survive the 

  
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INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

  
 13 

 
termination of this Agreement. Licensee shall always comply with Licensor’s instructions regarding marking of the Licensed Products with proprietary notices with respect to Licensed
Intellectual Property. 
 12.2. Copyright. Licensee hereby agrees that any Copyright which shall have arisen under this
Agreement in any sketch, design, advertising materials or the like, used on or in connection with any Licensed Product are the sole and exclusive property of the Licensor. Licensee shall not, at any time, do any act or thing which shall adversely
affect any of the Licensor’s rights in such sketches, designs, advertising materials and the like, and shall, at Licensor’s request, do all things reasonably required by Licensor to preserve and protect said rights. 

12.3. Designs Used Only on Licensed Products. Licensee acknowledges and agrees that Licensor owns or shall own all rights in
designs relating to the Licensed Products, regardless of whether such designs were created by Licensor or created on behalf of Licensor by the Licensee. Licensee agrees to make, procure and execute all assignments necessary to vest ownership of
design rights in Licensor. Licensee shall not do or allow to be done anything which may adversely affect any of Licensor’s design rights. All designs used by Licensee for the Licensed Products shall be used exclusively for the Licensed
Products. 
 ARTICLE 13: INFRINGEMENT OR DILUTION 

13.1. Notice of Infringement. Licensee shall notify Licensor in writing of any infringement, dilution or imitation of the Licensed
Intellectual Property by any third party promptly when the same shall come to the attention of the Licensee. Licensor will thereupon take such action as it deems advisable, and Licensee shall cooperate with and assist Licensor in the prosecution of
any such suit, as Licensor may reasonably request, provided that Licensor shall bear all costs and expenses reasonably incurred by Licensee in giving information and assistance pursuant to such request. In no event, however, will Licensor be
required to take any action if it deems it inadvisable to do so and Licensee will have no right to take any action without the prior written consent of Licensor. 
 13.2. Licensor Control Over Litigation. Without prejudice to any interests and rights of Licensee under this Agreement, Licensor shall have full control over any such action, including, without
limitation, the right to select counsel, to settle on any terms it deems advisable in its discretion, to appeal any adverse decision rendered in any court, to discontinue any action taken by it, and otherwise to make any decision in respect thereto
as it deems advisable in its discretion. Licensor shall bear all reasonable, out-of-pocket expenses connected with the foregoing. Any recovery as a result of such action shall belong to Licensor. Licensee may, upon receiving the prior written
consent of Licensor, participate in any action taken by or proceeding instituted by Licensor through separate counsel of Licensee’s own choosing and at Licensee’s sole expense, provided that Licensor at all times shall retain full control
over such action in accordance with this Section. 
 13.3. In the case that such infringement, dilution or imitation of the
Licensed Intellectual Property impact or infringe or damage any and all interests and rights of Licensee under this Agreement, including but not limited to its interest and rights arising from or relating to its license as provided in
Section 2.1, License shall have the right to take such action as it deems advisable, and Licensor shall cooperate with and assist Licensee in the prosecution of any such suit, as Licensee

  
 CERTAIN CONFIDENTIAL
INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

  
 14 

 
may reasonably request, provided that Licensee shall bear all costs and expenses reasonably incurred by Licensor in giving information and assistance pursuant to such request. Licensee shall have
full control over any such action, including, without limitation, the right to select counsel, to settle on any terms it deems advisable in its discretion, to appeal any adverse decision rendered in any court, to discontinue any action taken by it,
and otherwise to make any decision in respect thereto as it deems advisable in its discretion. 
 ARTICLE 14: CONFIDENTIALITY

 14.1. Confidentiality Obligations. The terms of the Nondisclosure Agreement by and between the Parties dated as of
February 8, 2012, shall govern this Agreement with respect to Licensee Confidential Information and Licensor Confidential Information, and is incorporated herein by this reference. 

ARTICLE 15: OTHER PROVISIONS 
 15.1. Severability. If any provision or any portion of this Agreement shall be construed to be illegal, invalid or unenforceable, such provision shall be deemed stricken and deleted from this
Agreement to the same extent and effect as if never incorporated herein. All other provisions of this Agreement and remaining portion of any provision which is not found to be illegal, invalid or unenforceable in part shall continue in force and
effect. 
 15.2. Non-waiver. No waiver, modification or cancellation of any term or condition of this Agreement shall be
effective unless executed in writing by the party charged therewith. No written waiver shall excuse the performance of any acts other than those specifically referred to herein. The fact that the Licensor has not previously insisted upon the
Licensee expressly complying with any provision of the Agreement shall not be deemed to be a waiver of the Licensor’s future right to require compliance in respect thereof. Licensee specifically acknowledges and agrees that the prior
forbearance in respect of any act, term or condition shall not prevent Licensor from subsequently requiring full and complete compliance thereafter. 
 15.3. Permission Needed to Assign or Sublicense. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns. Licensee shall not assign
or sublicense this Agreement or any interest therein, or any part of this Agreement without Licensor’s prior written consent; which may not be unreasonably withheld. However, Licensor may assign its rights and obligations under this Agreement
to any successor without the consent of Licensee but with reasonable advance written notice, so long as such successor agrees to be liable for all and any obligations, financial or otherwise, arising from this Agreement. 

15.4. Form of Notice to Parties. Wherever one Party is required or permitted or required to give written notice to the other under
this Agreement, such notice will be given by hand, by certified U.S. mail, return receipt requested, by overnight courier, or by fax and addressed as follows: 
  

			
	If to Licensor:	 	with a copy to:
	Powerwave Technologies, Inc.	 	Powerwave Technologies, Inc.
	1801 East St. Andrew Place	 	1801 East St. Andrew Place
	Santa Ana, California 92705	 	Santa Ana, California 92705
	Attn: Chief Procurement Officer	 	 Attn: Chief Financial Officer

	Phone: +49 (172) 722.2608	 	 Phone: (714) 466-1000

		 	 Fax (714) 466-5801

  
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INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

  
 15 

 If to Licensee: 
 Shenzen Tatfook Technology Co. Ltd. 
 3rd Industrial Area of Shajing Industrial Company Haoxiang
Road, Shajing Town, 
 Bao’an District, Shenzhen, PRC 518104 
 Attn: Ms Xu Jin, Linda 
 Phone: +86 (755) 2981 6880 

Fax: +86 (755) 2735 6851 
 All such notices
shall be effective upon receipt. Either Party may designate a different notice address from time to time upon giving ten (10) calendar days’ prior written notice thereof to the other Party. 

15.5. Notice of Actions Being Brought. Licensee agrees to notify Licensor immediately upon the commencement of any actions brought
against Licensee whose outcome may affect the rights of Licensor herein granted, and Licensor shall have the right at its own expense to appear and defend such actions. 
 15.6. Precedence. In the event of conflict between the terms of this Agreement and any other document, the terms of this Agreement shall govern, unless such other document expressly purports to
modify this Agreement, and is signed by the parties to this Agreement. 
 15.7. Survival of Obligations. The provisions
of this Agreement, which by their very nature survive final acceptance under this Agreement shall remain in full force and effect after such termination. 
 15.8. Integration. This Agreement, and the appendices hereto, represent the entire agreement between the Parties respecting the subject matter hereof and supersede all prior discussions, agreements
and understandings of every kind and nature between them. No modification of this Agreement will be effective unless in writing, expressly purporting to modify this Agreement and signed by the Party against whom enforcement is sought. 

15.9. Disputes/Choice of Law/Attorneys Fees. The Parties shall attempt to resolve any disputes between them arising out of this
Agreement through good faith negotiations. In the event the Parties cannot resolve a dispute within thirty (30) days after one Party has given the other Party written notice of the existence of the dispute, such dispute shall be settled by
arbitration which shall be conducted in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (“UNCITRAL”) in effect at the time of applying for arbitration. The appointing authority shall
be the Hong Kong International Arbitration Centre (HKIAC) and the place of arbitration shall be Hong Kong at the HKIAC. There shall be only one arbitrator. The language to be used in the arbitration proceedings shall be English. The arbitral award
is final and binding upon both parties, This Agreement shall be construed in accordance with the substantive laws of the State of California (excluding its conflicts of laws principles). The provisions of the United Nations Conventions on Contracts
for the International Sale of Goods shall not apply to this Agreement. The prevailing Party shall be entitled to recover its costs and reasonable attorney’s fees from the non-prevailing Party in any action brought to enforce this Agreement.

  
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INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

  
 16 

 15.10. Responsibility for Taxes. The Parties shall be responsible for the payment of
the applicable taxes arising in connection with the transactions contemplated under this Agreement pursuant to the applicable taxation laws and regulation. . 
 15.11. Headings. The headings of the Articles of this agreement are for convenience only and shall in no way limit or affect the term or conditions of this Agreement. 

15.12. Remedies Cumulative. All remedies available under the law and/or this Agreement for breach of this Agreement are cumulative
and may be exercised concurrently or separately, and the exercise of any remedy shall not be deemed an election of such remedy to the exclusion of other remedies. 
 15.13. Independent Contractor Status. It is expressly understood that Licensee and Licensor are contractors independent of one another, and that neither has the authority to bind the other to any
third person or otherwise to act in any way as the representative of the other, unless otherwise expressly agreed to in a writing signed by both Parties hereto. Licensee shall maintain complete control over its employees and agents and assume
liability for such actions as would occur under the terms of this Agreement. 
 15.14. Rights of Licensor’s Successors
in Interest. The rights of Licensor and the obligations of Licensee under this Agreement shall inure to the benefit of Licensor’s nominees, successors and assigns. 
 15.15. Construction. This Agreement has been submitted to the scrutiny of, and has been negotiated by, all Parties hereto and their counsel, and shall be given a fair and reasonable interpretation
in accordance with the terms hereof, without consideration or weight being given to its having been drafted by any Party hereto or its counsel. 
 15.16. Limitation on Rights of Others. This Agreement is entered into between the Parties for the exclusive benefit of the Parties. This Agreement is not intended for the benefit of any creditor of
any Party or any other person. Except to the extent provided by applicable statute, and then only to that extent, no third party shall have any rights under this Agreement. 
 15.17. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument.

 15.18. No Publicity. Each Party agrees not to publicize or disclose the existence or terms of this Agreement to any
third Party without the prior consent of the other Party except as required by law or applicable stock exchange regulations (in which case, the Party seeking to disclose the information shall give reasonable notice to the other Party of its intent
to make such a disclosure). Neither Party shall make any press release or similar public statement without the prior consent of the other Party. 
 [Signature page follows] 

  
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INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

  
 17 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed on the 24th day of April, 2012. 

 

			
	Licensor:
	
	POWERWAVE TECHNOLOGIES, INC.
		
	By:	 	/s/ Marvin MaGee
	Name:	 	Marvin MaGee
	Title:	 	Chief Operating Officer
	
	Licensee:
	
	SHENZEN TATFOOK TECHNOLOGY CO., LTD.
		
	By:	 	/s/ Linda Xu
	Name:	 	Linda Xu
	Title:	 	Vice President

  
 CERTAIN CONFIDENTIAL
INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

  
 18 

 EXHIBIT A 
 LICENSED PRODUCTS 
 5000 series and 7000 series antennas and industry standard tower
mounted amplifiers with specific models and part numbers to be supplied and agreed upon prior to the closing of the Asset Purchase Agreement between Licensee and Filtronic Suzhou Telecommunications Products Co., Ltd. 

  
 CERTAIN CONFIDENTIAL
INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

  
 19 

 EXHIBIT B 
 ROYALTIES 
 1. Licensee shall pay to Licensor a Royalty equal to [*] of Net
Sales of each individual Unit sold, distributed or otherwise disposed of (collectively “Sold”) by Licensee. For purposes of determining when a Royalty payment is due, a Unit is considered Sold on the date of shipment by Licensee.

  
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INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

  
 20 

 EXHIBIT C 

 

			
	 Acct Name
	  	 Product Group

	NOKIA-SIEMENS	  	[*]
		  	[*]
		  	[*]
		
	ALCATEL-LUCENT	  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		
	MOTOROLA	  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]
		  	[*]

  
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INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

  
 21Sixth Extension and Modification Agreement

 Exhibit 10.6 
 Loan No.: 4507426-18 
 SIXTH EXTENSION AND MODIFICATION AGREEMENT

 THIS SIXTH EXTENSION AND MODIFICATION AGREEMENT (this “Amendment”) is dated as of December 30,
2011, by and between CIRCLE G AT THE CHURCH FARM NORTH JOINT VENTURE, LLC, an Arizona limited liability company, as debtor and debtor-in-possession (“Borrower”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association
(“Lender”). 
 R E C I T A L S 

A. Borrower and Lender entered into that certain Loan Agreement dated February 14, 2006, as amended by that certain letter agreement
dated June 20, 2006, that certain letter agreement dated February 28, 2007, that certain Extension and Modification Agreement dated April 4, 2007, that certain Second Extension and Modification Agreement dated June 20, 2007, that
certain Third Extension and Modification Agreement dated as of May 19, 2008 (the “Third Extension”), that certain Fourth Extension and Modification Agreement dated as of December 31, 2008 that certain letter
agreement dated April 14, 2011, and that certain Fifth Extension and Modification Agreement dated July 11, 2011 (as amended, the “Agreement”), pursuant to which Lender agreed to loan to Borrower the reduced sum of
up to Twenty-Four Million Five Hundred Thousand Dollars ($24,500,000.00) (the “Loan”), upon the terms and conditions set forth in the Agreement, to finance Borrower’s acquisition of certain real property in the Counties
of Maricopa and Pinal, State of Arizona, more particularly described in the Agreement (the “Property”) and pre-development and entitlement costs associated with the Property. The Loan is evidenced by that certain Promissory
Note Secured by Deed of Trust dated February 14, 2006 in the original principal amount of Thirty-Nine Million Five Hundred Thousand Dollars ($39,500,000.00) (the “Note”) made by Borrower in favor of Lender which amount,
pursuant to the Third Extension, was reduced to the maximum Loan amount of $24,500,000.00. The Loan, the Agreement, and the Note are secured by, among other things, that certain Deed of Trust, Assignment of Leases and Rents, Security Agreement and
Fixture Filing dated February 14, 2006, given by Borrower, as “Trustor” in favor of Lender, as “Beneficiary”, encumbering the Property, recorded on March 3, 2006 as Document
No. 2006-0292093 in the Official Records of Maricopa County, Arizona, and on March 3, 2006 as Document No. 2006-031017 in the Official Records of Pinal County, Arizona, as amended by (i) that certain Amendment to Deed of Trust,
dated June 20, 2006, which was recorded on July 6, 2006 as Document No. 2006-0903803 in the Official Records of Maricopa County, Arizona and on July 6, 2006 as Document No. 2006-095809 in the Official Records of Pinal
County, Arizona, (ii) that certain Second Amendment to Deed of Trust, dated February 28, 2007, which was recorded on April 5, 2007 as Document No. 2007-04030576 in the Official Records of Maricopa County, Arizona and on
April 16, 2007 as Document No. 2007-045570 in the Official Records of Pinal County, Arizona, (iii) that certain Third Amendment to Deed of Trust, dated December 31, 2008, which was recorded on February 27, 2009 as Document
No. 2009-0176049 in the Official Records of Maricopa County, Arizona and on February 27, 2009 as Document No. 2009-020355 in the Official Records of Pinal County, Arizona, (iv) that certain Assignment of Deed of Trust and
Assignment of Leases and Rents and Security Agreement and Fixture Filing recorded on 

 
August 26, 2010 as Document No. 2010-80451 in the Official Records of Pinal County, Arizona and (v) that certain Assignment of Deed of Trust and Assignment of Leases and Rents and
Security Agreement and Fixture Filing recorded on September 15, 2010 as Document No. 2010-798082 in the Official Records of Maricopa County, Arizona (collectively, the “Deed of Trust”). The Deed of Trust and all
other security given by Borrower in connection with the Loan and the Note are hereinafter collectively referred to as the “Security Documents”. Unless otherwise defined herein, capitalized terms used in this Amendment shall
have the same meanings as set forth in the Agreement. 
 B. The Loan is guaranteed by William Lyon Homes, Inc., a California
corporation, and William Lyon Homes, a Delaware corporation (collectively, the “Guarantors”), pursuant to the terms of that certain Guaranty Agreement (California) and that certain Guaranty Agreement (Arizona), both dated
February 14, 2006 and executed by the Guarantors (collectively, the “Guaranty”).  
 C.
Lender is the holder of the Note, the secured party under each and all of the Security Documents and “Lender” under the Guaranty. The Agreement, Note, Security Documents, Guaranty and all other documents executed in connection with the
Loan are referred to herein as the “Loan Documents”. 
 D. The Maturity Date of the Note currently is
January 1, 2012. As of the date of this Amendment, the outstanding principal balance of the Note is Nine Million Eight Hundred Ninety-Nine Thousand One Hundred Forty-nine and 86/100 Dollars ($9,899,149.86). 

E. Lender, Borrower and Guarantors executed a commitment letter dated December 14, 2011 (the “Commitment
Letter”) setting forth the general terms and conditions under which Lender would agree to modify and amend the Loan. 
 F. On December 19, 2011, Borrower and Guarantors each commenced a proceeding under chapter 11 of the United States Bankruptcy Code by filing chapter 11 petitions with the Bankruptcy Court in the
District of Delaware (the “Bankruptcy Court”), Case No. 11-14023 with respect to Borrower, Case No. 11-14020 with respect to Guarantor William Lyon Homes, Inc., and Case No. 11-14019 with respect to Guarantor
William Lyon Homes (collectively, the “Chapter 11 Cases”). The filing of the Chapter 11 Cases constitutes Events of Default under the Loan Documents (the “BK Default”), but Borrower and Guarantors each
reserve all rights with respect to whether such Event of Default is enforceable under the Bankruptcy Code. 
 G. On
December 10, 2011, Borrower and Guarantors filed the Motion of Debtors for Authorization Pursuant to Sections 105 and 363 of the Bankruptcy Code and Bankruptcy Rule 6004 to Honor in the Debtors’ Sole Discretion Land Development
Obligations in the Ordinary Course of Business (the “Motion”). Pursuant to the Motion, among other things, Borrower and Guarantors sought Bankruptcy Court approval to pay Lender amounts payable under the Loan Documents
(including as provided in the Commitment Letter) and enter into definitive documentation of an amendment to the Loan Documents as contemplated by the Commitment Letter. On an interim basis, the Motion requested authority to pay Lender up to $47,000
on account of interest due on the Loan. On December 20, 2011, the Bankruptcy Court entered in the Bankruptcy Cases its Interim Order Authorizing Motion Pursuant to Sections 105 and 363 of

  
 -2-

 
the Bankruptcy Code and Bankruptcy Rule 6004 to Honor in the Debtors’ Sole Discretion Land Development Obligations in the Ordinary Course of Business (the “Interim
Order”) which, in part, approved Borrower and Guarantors paying Lender up to $47,000 on account of interest due on the Loan and set January 11, 2012 as the final hearing to consider the relief sought by the Motion. 

H. Lender, Borrower and Guarantors desire to amend the Loan Documents in accordance with the terms of the Commitment Letter as
hereinafter set forth, subject to the terms and requirements hereinafter described. 
 NOW, THEREFORE, in consideration of the
foregoing recitals and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower and Lender hereby agree as follows: 
 1. Extension of Maturity Date of Note. Subject to the satisfaction of the conditions precedent set forth in Section 7 hereafter, the Maturity Date of the Note is extended to
January 1, 2013, subject to further extension as provided in Section 2 of this Amendment. 
 2. Option to
Extend Maturity Date of Note. Borrower shall have the option to extend the term of the Loan from the January 1, 2013 Maturity Date (for purposes of this Section 2, the “Initial Maturity Date”) to December 31, 2013
(for purposes of this Section 2, the “Extended Maturity Date”) upon satisfaction of each of the following conditions precedent: 
 (a) Borrower shall provide Lender with written notice of Borrower’s request to exercise its option to extend the Initial Maturity Date not more than ninety (90) days but not less than thirty
(30) days prior to the Initial Maturity Date; 
 (b) As of the date of Borrower’s delivery of notice of
request to exercise its option to extend, and as of the Initial Maturity Date, no Event of Default shall have occurred and be continuing, and no event or condition which, with the giving of notice or the passage of time or both, would constitute an
Event of Default shall have occurred and be continuing, and Borrower shall so certify in writing to the best of its knowledge; 
 (c) Borrower shall deliver to Lender, at Borrower’s sole cost and expense, an updated title report for the Property showing no additional liens or encumbrances affect the Project from those shown on
Lender’s existing Title Policy other than nondelinquent taxes and such title insurance endorsements reasonably required and other than matters approved by Lender; and 

(d) There shall have occurred no material adverse change, as determined by Lender in its reasonable discretion, in the
financial condition of Borrower or Guarantor from that which existed on the Initial Maturity Date. 
 If each of the foregoing conditions
precedent are satisfied, and the Initial Maturity Date is extended as provided above to the Extended Maturity Date, as used herein and in the other Loan Documents, the term “Maturity Date” shall thereafter mean the Extended Maturity
Date. During the period from the Initial Maturity Date through the Extended Maturity Date, interest under the Note shall continue to be paid monthly at the rate provided therein, as amended by this Amendment, and Borrower shall continue to pay
quarterly principal reduction payments required pursuant to Section 4 of this Amendment as of the end of each calendar quarter. 

  
 -3-

 3. Interest Rate. The interest rate as recited and calculated in the Note shall
continue to be paid monthly at the rate provided therein, i.e., an annual rate equal to twenty-five one hundredths percent (.25%) plus the prime rate announced by Lender and in effect from time to time, provided the interest rate prior to maturity
or default shall not be less than six percent (6.0%) per annum (the “Floor Rate”); provided that on the first day of the month following the date the Bankruptcy Court enters an order as provided in Section 5
of this Amendment, the Floor Rate shall be reduced from six percent (6.0%) to five and one half percent (5.50%) per annum. The interest rate hereunder will be adjusted each time that Lender’s prime rate changes. 

4. Quarterly Principal Payments. At the end of each successive calendar quarter commencing on the earlier of (i) the end of
the calendar quarter following the date the Bankruptcy Court enters a final order confirming the Chapter 11 plans of reorganization of Borrower and Guarantors (each a “Chapter 11 Plan” and collectively the “Chapter
11 Plans”), each of which complies with Section 5 of this Amendment, or (ii) the calendar quarter ending June 30, 2012 (such earlier date referred to herein as the “Quarterly Principal Payment
Commencement Date”), Borrower shall pay to Lender equal quarterly principal reduction payments in the amount of One Million One Hundred Twenty-Four Thousand Eight Hundred Ninety-Four Dollars ($1,124,894), to be applied by Lender when
received as a permanent reduction to the principal outstanding under the Note. Borrower’s failure to pay this amount by the end of each calendar quarter on and after the Quarterly Principal Commencement Date shall constitute an Event of Default
under the Agreement, the Note, the Security Documents and other Loan Documents. 
 5. Chapter 11 Plan Confirmation; Relief
From Stay. On or before June 30, 2012, Borrower and Guarantors shall cause each of its respective Chapter 11 Plans to be confirmed by an order of the Bankruptcy Court and, pursuant to Borrower’s Chapter 11 Plan, Borrower, as
reorganized, shall reaffirm and assume in all respects its obligations under the Loan Documents, as modified by this Amendment, and, pursuant to each of the Chapter 11 Plans the Guarantors, the Guarantors, as reorganized, shall reaffirm and assume
in all respects the obligations under the Guaranties. Failure by Borrower and Guarantors, each as reorganized, to reaffirm and assume in all respects their respective obligations under the Loan Documents pursuant to Chapter 11 Plans confirmed by an
order of the Bankruptcy Court entered on or before June 30, 2012, shall constitute an Event of Default under the Agreement, the Note, the Security Documents and other Loan Documents (the “Plan Default”). Upon the
occurrence of a Plan Default, Lender shall be entitled to the immediate entry of an order from the Bankruptcy Court granting Lender complete relief from the automatic stay imposed by §362 of the Bankruptcy Code (11 U.S.C. §362) with
respect to Borrower’s Chapter 11 Case to exercise its foreclosure and other rights and remedies under the Loan Documents, including but not limited to obtaining a foreclosure judgment and foreclosure sale, upon the filing with the Bankruptcy
Court of a motion for relief from the automatic stay with a copy of this Agreement and a declaration from Lender confirming the Plan Default on not less than fifteen (15) business days’ notice to Borrower. 

6. Limited Waiver. Upon the date all conditions precedent to the effectiveness of this Amendment have been satisfied or waived in
writing by Lender in its sole discretion, the 

  
 -4-

 
Events of Default occurring by the BK Default shall be deemed waived by Lender effective from December 18, 2011, through June 30, 2012, provided that, in the event the Chapter 11 Plans
are confirmed by the Bankruptcy Court in accordance with Section 5 of this Amendment, the foregoing waiver shall be deemed effective for the term of the Loan. The waiver provided by this Section 6 is expressly limited to the
Events of Default under Sections 9.01 (f) and (m) of the Agreement arising solely from the BK Default, and shall not constitute a waiver of any subsequent Events of Default under those sections or as otherwise may occur under the Loan
Documents. 
 7. Conditions Precedent. The effectiveness of this Amendment is expressly conditioned on Lender’s
determination that the following conditions precedent and other requirements of Lender set forth herein shall have been satisfied (unless waived in writing by Lender is its sole discretion): 

(a) Borrower shall have duly executed and delivered to Lender this Amendment, that certain Fourth Amendment to Deed of
Trust (“Short Form Amendment”), that certain Fourth Amendment to Assignment of Rights (“Assignment Amendment”) and a Limited Liability Company Certification, all in form and substance satisfactory to
Lender. 
 (b) Guarantors shall have executed and delivered to Lender the Consent and Reaffirmation of Guaranty
Agreements and Environmental Indemnity Agreement appended to this Amendment and Certificates of Secretary and Incumbency Certificates, each in form and substance satisfactory to Lender. 

(c) The Short Form Amendment and Assignment Amendment shall have been recorded in the Recorder’s Office. 

(d) All information provided by the Borrower and Guarantors to Lender shall be true and correct in all material respects
as of the date of this Amendment. 
 (e) Other than the BK Default, no Event of Default shall exist under the
Loan Documents. 
 (f) On or before January 31, 2012, Borrower and Guarantors shall cause to be delivered to
Lender an entered order by the Bankruptcy Court approving the Motion and, as contemplated by the Motion on a final basis, the terms of this Amendment and the respective obligations of Borrower and Guarantors (as debtors-in-possession) hereunder and
under all documents executed in connection with this Amendment. Borrower and Guarantors shall provide Lender with a draft of the final order prior to submitting it to the Bankruptcy Court. 

(g) If required by Lender, Borrower shall provide evidence of the Borrower’s legal status and good standing and such
other documentation as Lender might deem appropriate. 
 (h) If required by Lender, Borrower shall have obtained
flood insurance for the Property. 

  
 -5-

 (i) Borrower shall pay or cause to be paid to Lender on or before its
execution and delivery of this Amendment all legal, title, escrow, documentation, and other costs incurred by or on behalf of Lender in connection with this transaction including without limitation, the preparation of this Amendment and all other
documents prepared in connection herewith. 
 (j) Borrower shall cause to be furnished to Lender a modified CLTA
Form 110.5 extension endorsement to Lender’s current ALTA Lender’s Policy of Title Insurance, which shall insure that the Deed of Trust is and remains a first lien on the property encumbered thereby, free and clear of all liens,
encumbrances, restrictions or other matters except those, if any, to which Lender may agree to take subject to in writing. 
 8.
Reaffirmations. Borrower hereby reaffirms to Lender the continued truth and accuracy of the representations and warranties made by Borrower in the Agreement and each and all of the other Loan Documents, with the understanding that Lender is
relying upon the continued truth and accuracy of all such representations and warranties in entering into this Amendment. Borrower hereby further affirms and certifies that as of the date of this Amendment, no default or Event of Default (other than
the BK Default) as described in the Note, the Agreement or any of the other Loan Documents exists or would be existing with the passage of time or the giving of notice or both. Borrower further ratifies and confirms each and all of the terms,
conditions and covenants of the Note, Deed of Trust and other Loan Documents as amended or modified by this Amendment and those provisions not so amended or modified and, except as specifically amended or modified hereby, the Loan Documents remain
in full force and effect. This Amendment shall constitute a Loan Document. 
 9. Acknowledgments and Waivers. 

(a) Borrower acknowledges and confirms that it is fully liable under the Note, as amended hereby, including, without
limitation, that it is obligated to pay all amounts of principal and interest, late charges, and other sums which may now or hereafter become due and owing under the Note, as amended hereby, and all taxes, insurance premiums and other sums that may
be due and payable under the provisions of the Deeds of Trust and other Security Documents; Borrower acknowledges and admits the indebtedness evidenced by the Note, as amended hereby, and unconditionally promises and agrees to pay the same with
interest thereon within the time and in the manner required in the Note, as amended hereby, together with attorneys’ fees, costs of collection, and any other sums secured by the Deeds of Trust and other Security Documents; and Borrower further
acknowledges and agrees that upon any default or Event of Default under the Note or any of the other Security Documents from and after the date of this Amendment, Lender, in addition to any other rights it may have under the Security Documents, at
law or in equity, shall have the right to declare the entire unpaid balance of principal and interest under the Note immediately due and payable. 
 (b) Each of Borrower and Guarantors, on behalf of itself and on behalf of its officers, directors, shareholders, agents, employees, successors and assigns (collectively, the “Borrower
Parties”), and each of them, and anyone claiming through or under them, 

  
 -6-

 
hereby releases, acquits and forever discharges Lender and its principals, officers, directors, shareholders, agents, employees, successors and assigns (collectively, the “Lender
Parties”) and each of them, of and from any and all claims, causes of action in law or equity, suits, debts, liens, obligations, promises, demands, liabilities, damages, losses, costs and expenses of every nature, character and description
whatsoever in existence as of the execution of this Amendment, known or unknown, fixed or contingent, which the Borrower Parties, or any of them, may have or may hereafter acquire against the Lender Parties and each of them based on or arising out
of the Note, the Loan Agreement, the Guaranty, the Security Documents, this Amendment, the other Loan Documents, and the transactions contemplated by said documents, existing prior to the date of this Amendment. With respect to the foregoing
release, each of the Borrower Parties hereby acknowledges and waives the provisions of California Civil Code Section 1542, which states: 
 “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have
materially affected his or her settlement with the debtor.” 
 Borrower Parties acknowledge that each has been advised or
has had the opportunity to be advised by its attorneys concerning the foregoing, and in light thereof, each expressly acknowledges the aforementioned waiver and release of any and all rights each may have under California Civil Code
Section 1542 or any other State or Federal statute or legal principle of similar effect with respect to the foregoing. 
 (c) In further consideration of the extension of the Maturity Date under the Note, the provisions of Section 3511 of the Commercial Code of California requiring presentment of said Note to Borrower,
demand of payment, protest, notice, notice of dishonor, and notice of nonpayment are hereby waived. 
 10. Independent
Security. Borrower hereby agrees that any and all security for the Note including, without limitation, each Deed of Trust, may be enforced by Lender concurrently or independently in such order as Lender may determine; and with reference to any
such security in addition to each Deed of Trust, Lender may, without consent of or notice to Borrower, exchange, substitute or release such security without affecting the liability of Borrower, and Lender may release any one or more parties hereto
or to the above obligation, or permit the liability of said party or parties to terminate without affecting the liability of any other party or parties liable thereon. 
 11. Amendment Not a Novation; Ratification. This Amendment is an extension and deferment only, and not a novation. Except as modified by this Amendment, the terms and provisions of the Note, the
Loan Agreement, the Deeds of Trust and each and all of the other Security Documents are hereby ratified and affirmed in all respects by the parties hereto, and shall remain binding and controlling on the parties. 

  
 -7-

 12. Judicial Reference. This Amendment incorporates any judicial reference or
alternative dispute resolution agreement previously, concurrently or hereafter executed between Borrower and each Guarantor and Lender. 
 13. Miscellaneous. Borrower and Lender agree to deliver such additional documents and instruments and to do or cause to be done such other acts and things as may be reasonably necessary to assure
the parties hereto of the benefit of the agreements contained in this Amendment. This Amendment constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior oral and written understandings
or agreements with respect to the same, including without limitation the Commitment Letter. Each of the parties to this Amendment acknowledges that it has had the opportunity to seek legal advice as to the terms of this Amendment, and this Amendment
shall be construed fairly as to each of the parties, regardless of which party prepared this Amendment. Neither this Amendment nor any of the provisions hereof may be changed, waived, discharged or terminated, except by an instrument in writing
signed by the party against whom the enforcement of the change, waiver, discharge or termination is sought. No waiver of any right hereunder shall constitute waiver of any other or future right. In any dispute arising out of or related to this
Amendment or any of the terms and provisions contained herein, the prevailing party in such dispute shall be entitled to recover from the losing party, in addition to any other relief, all attorneys’ fees and costs incurred by the prevailing
party in connection with said dispute. All provisions of this Amendment shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective heirs, legal representatives, successors and assigns. This
Amendment shall be governed by and construed in accordance with the laws of the State of California. 
 14.
Counterparts. This Amendment may be executed in counterparts, each of which shall be deemed an original but all of which together, shall constitute one and the same agreement. 

15. Patriot Act Notification. Lender is subject to the USA Patriot Act and hereby notifies Borrower that, pursuant to the
requirements of that Act, Lender is required to obtain, verify and record information that identifies Borrower, which information includes the name and address of Borrower and other information that will allow Lender to identify Borrower, their
members and guarantors in accordance with the Act. 
 [SIGNATURE PAGE FOLLOWS] 

  
 -8-

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

									
	        LENDER:	 		 	U.S. BANK NATIONAL ASSOCIATION, a national banking association,
				
		 		 	By:	 	 /s/ Donald A. Zinn

		 		 	Name:	 	Donald A. Zinn
		 		 	Its:	 	Vice President
			
	        BORROWER:	 		 	CIRCLE G AT THE CHURCH FARM NORTH JOINT VENTURE, LLC, an Arizona limited liability company, Debtor and Debtor-in-Possession
				
		 		 	By:	 	William Lyon Homes, Inc.,
		 		 		 	a California corporation, Manager
					
		 		 		 	By:	 	 /s/ Richard S. Robinson

		 		 		 		 	Richard S. Robinson
		 		 		 		 	Senior Vice President
					
		 		 		 	By:	 	 /s/ Colin T. Severn

		 		 		 		 	Colin Severn, Vice President and
		 		 		 		 	Chief Financial Officer

  

					
		  	-9-	  	 Signature Page to Fifth Extension
 and Modification Agreement

 CONSENT AND REAFFIRMATION OF GUARANTY AGREEMENTS AND ENVIRONMENTAL INDEMNITY AGREEMENT

 THE FOREGOING AMENDMENT IS ACKNOWLEDGED AND AGREED TO BY THE UNDERSIGNED GUARANTORS, AND EACH GUARANTOR FURTHER ACKNOWLEDGES AND AGREES
(I) THAT THE GUARANTY AGREEMENTS DATED FEBRUARY 14, 2006 AND ENVIRONMENTAL INDEMNITY AGREEMENT DATED FEBRUARY 14, 2006, EACH EXECUTED BY GUARANTORS IN CONNECTION WITH THE LOAN, AND ALL TERMS THEREUNDER, INCLUDING WITHOUT LIMITATOIN
GUARANTORS’ OBLIGATIONS, COVENANTS, REPRESENTATION, WARRANTIES AND WAIVERS PROVIDED THEREIN, AS MODIFIED BY THIS AMENDMENT, ARE HEREBY RATIFIED, CONFIRMED AND REAFFIRMED IN ALL RESPECTS, SHALL NOT BE LIMITED OR OTHERWISE AFFECTED BY THE
AGREEMENTS CONTAINED IN THIS AMENDMENT, AND CONTINUE IN FULL FORCE AND EFFECT, AND (II) THAT EACH HAS READ AND CONFIRMS ITS INTENT TO BE BOUND BY THE TERMS OF THE RELEASE IN FAVOR OF LENDER PARTIES AS SET FORTH IN SECTION 9(B) OF THE AMENDMENT.

  

									
	WILLIAM LYON HOMES, INC., a California corporation, Debtor and Debtor-in-Possession	 		 	WILLIAM LYON HOMES, a Delaware corporation, Debtor and Debtor-in-Possession
					
	By:	 	 /s/ Colin T. Severn
	 		 	By:	 	 /s/ Colin T. Severn

		 	 Colin Severn, Vice President

and Chief Financial Officer
	 		 		 	 Colin Severn, Vice President

and Chief Financial Officer

					
	By:	 	 /s/ Richard S. Robinson
	 		 	By:	 	 /s/ Richard S. Robinson

		 	Richard S. Robinson	 		 		 	Richard S. Robinson
		 	Senior Vice President	 		 		 	Senior Vice President

  

					
		  	-10-	  	 Signature Page to Fifth Extension
 and Modification Agreement

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