Document:

Second Amendment to Amended and Restated Term Loan Agreement

 Exhibit 10.37(a-2) 
  
 SECOND AMENDMENT TO AMENDED AND RESTATED TERM LOAN 
 AGREEMENT 
  
 This SECOND AMENDMENT TO AMENDED AND RESTATED TERM LOAN AGREEMENT, dated as of June 10, 2004 (this “Amendment”), is entered into by and among SPANSION LLC (f/k/a FASL LLC), a Delaware limited liability company (the
“Borrower”), GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation, as agent for itself and the lenders from time to time signatory to the Loan Agreement (as defined below), as hereinafter defined (the
“Lenders”) (in its capacity as agent for itself and the Lenders, together with its successors or affiliates in such capacity, the “Agent”), and the Majority Lenders party hereto. 
  
 WHEREAS, the Borrower has entered into the Amended and Restated Term
Loan Agreement, dated as of July 11, 2003 as amended by the First Amendment to Amended and Restated Term Loan Agreement, dated as of March 29, 2004 (as further amended, amended and restated, supplemented, or otherwise modified from time to time, the
“Loan Agreement”), by and among the Borrower, the Lenders and the Agent. 
  
 WHEREAS, the Borrower seeks to amend certain provisions of the Loan Agreement. 
  
 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 Section 1. Definitions; Rules of Interpretation. Capitalized terms used herein shall have the meanings assigned to them in the Loan Agreement, unless otherwise defined herein. 
  
 Section 2. Amendments. The Loan Agreement is hereby amended as
follows: 
  
 (a) Section 1.1 of the Loan
Agreement is hereby amended by deleting each of the definitions of “Domestic Cash”, “Net Domestic Cash”, and “Target Cash Level” in its entirety. 
  
 (b) The definition of “Target Worldwide Cash Level” in Section 1.1 of the Loan Agreement is
amended and restated as follows: 
  
 “Target Worldwide Cash Level” means, for any period, the applicable cash level set forth below for such period: 
  

					
	 	 	 	 	SECOND AMENDMENT (SPANSION)

				
	 Period

	  	Amount

	 Second quarter of Fiscal Year 2005
	  	$	37,250,000
	 Third quarter of Fiscal Year 2005
	  	$	30,375,000
	 Fourth quarter of Fiscal Year 2005
	  	$	23,500,000
	 First quarter of Fiscal Year 2006
	  	$	16,625,000
	 Second quarter of Fiscal Year 2006
	  	$	9,750,000

  
 (c)
The definition of “Enhanced Covenant Period” in Section 1.1 of the Loan Agreement is amended and restated as follows: 
  
 “Enhanced Covenant Period” means, for each fiscal quarter of each Fiscal Year, at any time Net Worldwide Cash is less than the Target
Worldwide Cash Level as measured on the last day of the prior fiscal quarter. 
  
 (d) Section 7.2 of the Loan Agreement is hereby amended by deleting the text in clauses (b) and (d) and inserting the words “Intentionally Omitted”. 
  
 (e) Section 7.2(f) of the Loan Agreement is amended and
restated in its entirety as follows: 
  
 (f) No
later than ninety (90) days after the beginning of each Fiscal Year, annual forecasts (to include forecasted consolidated and consolidating balance sheets, statements of income and expenses and statements of cash flow) for the Borrower and its
Subsidiaries as at the end of and for each month of such Fiscal Year. 
  
 (f) Section 9.19 of the Loan Agreement is amended and restated in its entirety as follows: 
  
 9.19 Adjusted Tangible Net Worth. At any time that Net Worldwide Cash is less than the Target Worldwide Cash Level, the Borrower
will maintain Adjusted Tangible Net Worth, determined as of the last day of each fiscal quarter, of not less than $850,000,000. 
  
 (g) The first sentence of Section 9.20 of the Loan Agreement is amended and restated in its entirety as follows: 
  
 9.20 EBITDA. At any time that Net Worldwide Cash is
less than the Target Worldwide Cash Level, the Borrower will maintain EBITDA as of the last day of each fiscal period set forth below of not less than the amount set forth below opposite such fiscal period: 
  

					
	 	 	2	 	SECOND AMENDMENT (SPANSION)

 (h) Section 9.21 of the Loan Agreement is amended and restated in its entirety as
follows: 
  
 Section 9.21 Fixed Charge
Coverage Ratio. At any time that Net Worldwide Cash is less than the Target Worldwide Cash Level, the Borrower shall not permit, as of the last day of any fiscal quarter, the ratio of (a) EBITDA for the period of the last four fiscal quarters
ended on such date to (b) the sum of (i) interest expense for such period plus (ii) scheduled amortization of Debt For Borrowed Money for such period plus (iii) Capital Expenditures for such period, in each case, of the Borrower and
its Subsidiaries, as determined on a consolidated basis in accordance with GAAP, to be less than (1) –0.6 to 1.00 for the third fiscal quarter of 2003, (2) 0.2 to 1.00 for the fourth fiscal quarter of 2003, (3) 0.25 to 1.00 for the first fiscal
quarter of 2004, (4) 0.4 to 1.0 for the period ending June 2004, (5) 0.8 to 1.00 for the period ending September 2004, (6) 1.0 to 1.00 for the period ending December 2004, (7) 1.0 to 1.00 for the full fiscal year 2005, and (8) 0.9 to 1.00 for the
full fiscal year 2006. 
  
 Section 3. Conditions to
Effectiveness. This Amendment shall become effective upon the satisfaction of all of the following conditions precedent (the date of satisfaction of such conditions being referred to as the “Amendment Effective Date”):

  
 (a) Delivery to the Agent of this Amendment,
duly executed and delivered by the Borrower and the Lenders constituting the Majority Lenders. 
  
 (b) The representations and warranties set forth in Section 4 of this Amendment shall be true and correct as of the Amendment
Effective Date. 
  
 (c) The representations and
warranties of the Borrower as set forth in the Loan Agreement shall be true and correct in all material respects as of the Amendment Effective Date after giving effect to the amendments contemplated hereby (unless stated to be given as of an earlier
date, in which case such representation and warranty shall be true and correct only as of such earlier date); and 
  
 (d) As of the Amendment Effective Date, no Event of Default or Default shall have occurred and be continuing after giving effect to this
Amendment. 
  
 Section 4. The Borrower’s Representations
and Warranties. The Borrower represents and warrants to the Agent and each Lender a party hereto as of the date hereof and as of the Amendment Effective Date as follows: 
  
 (a) The Borrower has all requisite limited liability company power and authority to enter, execute, deliver
and perform this Amendment. 
  
 (b) The execution
and delivery of this Amendment have been duly authorized by all necessary limited liability company action of the Borrower and has been duly executed and delivered by the Borrower. 
  

					
	 	 	3	 	SECOND AMENDMENT (SPANSION)

 (c) As of the Amendment Effective Date, no Event of Default or Default shall have
occurred and be continuing after giving effect to this Amendment. 
  
 Section 5. Reference to and Effect on the Loan Agreement and the other Loan Documents. 
  
 (a) The Loan Agreement and the other Loan Documents are subject to amendments only under the express provisions of Section 2 and
shall, as so modified, continue to be in full force and effect and are hereby ratified and confirmed by the Borrower in all respects. Each other Loan Document is and shall continue to be in full force and effect and is hereby ratified and confirmed
by the Borrower in all respects. 
  
 (b) This
Amendment shall be construed as one with the Loan Agreement and the other Loan Documents, and the Loan Agreement and the other Loan Documents shall, where the context requires, be read and construed throughout so as to incorporate this Amendment.

  
 Section 6. Execution in Counterparts; Effectiveness.
This Amendment may be executed in any number of counterparts, and by the Agent, each Lender and the Borrower in separate counterparts, each of which shall be an original, but all of which shall together constitute one and the same agreement;
signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. 
  
 Section 7. Headings. The headings contained in this Amendment are for convenience of reference only, are without
substantive meaning and should not be construed to modify, enlarge, or restrict any provision. 
  
 Section 8. Severability. The illegality or unenforceability of any provision of this Amendment or any instrument or agreement required hereunder shall not in any way affect or impair the legality or
enforceability of the remaining provisions of this Amendment or any instrument or agreement required hereunder. 
  
 Section 9. Governing Law. THIS AMENDMENT, AND ANY INSTRUMENT OR AGREEMENT REQUIRED HEREUNDER (TO THE EXTENT NOT EXPRESSLY PROVIDED FOR THEREIN),
SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN THAT STATE AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

					
	 	 	4	 	SECOND AMENDMENT (SPANSION)

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective
authorized officers as of the day and year first above written. 
  

			
	SPANSION LLC (f/k/a FASL LLC), a Delaware
limited liability company
		
	By:	 	 /s/    STEVEN J. GEISER

	 	 	Name: Steven J. Geiser
	 	 	Title: Chief Financial Officer
	
	LENDERS
	
	GENERAL ELECTRIC CAPITAL
CORPORATION,
as the Agent for the Lenders and as a Lender
		
	By:	 	 /s/    RAKESH MITAL

	 	 	Name: Rakesh Mital
	 	 	Title: Chief Risk Officer
	
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	 /s/    JOHN MCNAMARA

	 	 	Name: John McNamara
	 	 	Title: Vice President
	
	 MERRILL LYNCH CAPITAL, a Division of
Merrill Lynch Business Financial Services Inc.,
 as a Lender

		
	By:	 	  

	 	 	Name:
	 	 	Title:

  

					
	 	 	5	 	SECOND AMENDMENT (SPANSION)

			
	ACKNOWLEDGED AND AGREED
	TO BY EACH OF THE UNDERSIGNED
	FOR PURPOSES OF THEIR RESPECTIVE
	GUARANTY DATED AS OF JULY 11, 2003
	
	ADVANCED MICRO DEVICES, INC.
		
	By:	 	 /s/    CAYE HURSEY

	 	 	Name: Caye Hursey
	 	 	Title: Treasurer
	
	FUJITSU LIMITED
		
	By:	 	  

	 	 	Name:
	 	 	Title:

  

					
	 	 	6	 	SECOND AMENDMENT (SPANSION)Amendment to Amended and Restated Limited Liability Company Operating Agreement

 Exhibit 10.38(a) 
 AMENDMENT TO 
 AMENDED AND RESTATED 
 LIMITED LIABILITY COMPANY OPERATING AGREEMENT 
 OF 
 SPANSION LLC 
  
 THIS AMENDMENT (this “Amendment”) TO AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT (the
“Agreement”) OF SPANSION LLC, a Delaware limited liability company (the “Company”), is made and entered into as of May 20, 2005 (the “Amendment Effective Date”), by and between AMD Investments, Inc., a
Delaware corporation (“AMD Member”), and Fujitsu Microelectronics Holding, Inc., a Delaware corporation (“Fujitsu Member” and together with AMD Member, the “Members”). 
  
 WITNESSETH: 
  
 WHEREAS, in accordance with Section 13.1 of the Agreement, the Members hereby
desire to amend certain provisions to the Agreement; 
  
 NOW,
THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth in this Amendment and intending to be legally bound hereby, the Members hereby agree as follows: 
  
 A. Capitalized terms used herein without definition shall have the meanings
ascribed to them in the Agreement. 
  
 B. Section 6.4.6 of the
Agreement is amended by restating Section 6.4.6 in its entirety as follows: 
  
 6.4.6 Any Member who is treated as contributing cash to the Company under Regulation Section 1.1032-3(b) pursuant to an equity incentive plan described in Section 7.16 herein or any similar plan shall be specially
allocated an amount of the Company’s corresponding compensation deductions equal to the amount of the deemed cash contribution; provided, that if an income recognition event attributable to an equity incentive plan occurs in respect of an
employee of a Company Entity (other than the Company) that is classified as a partnership for United States federal income tax purposes (or as an entity disregarded as separate from a partnership), the Company shall ensure that the Company will be
allocated an amount of such Company Entity’s compensation deductions at least equal to the amount of such deemed cash contribution and such compensation deductions (not in excess of the amount of the deemed cash contribution) shall be specially
allocated to the contributing Member; and provided further, that if an income recognition event attributable to an equity incentive plan occurs in respect of an employee of a Company Entity that is not classified as a partnership (or as an entity
disregarded as separate from a partnership) for United States federal income tax purposes, such contributing Member shall be specially allocated, for the Fiscal Year of the Company which includes the date of such exercise, deductions (which shall
consist of a pro rata share of each item of deduction taken into account by the Company in computing Net Profits or Net Losses for such Fiscal Year in accordance with Section 6.1.1 herein) in an amount equal to the amount of the compensation
deduction the Company would have had if such employee had been an employee of the Company, but in no event shall such special allocation of deductions with respect to any such employee of any such Company Entity exceed the amount of the contributing
Member’s deemed cash contribution pursuant to Regulations Section 1.1032-3(b), determined in accordance 

 
with the principles set forth in the following sentence of this Section 6.4.6 with respect to such income recognition event. A Member shall be treated as
contributing cash to the Company under Regulation Section 1.1032-3(b) to the extent (x) the fair market value, as of the date of the employee’s income recognition event with respect to any shares of the Member or its Affiliate purchased by or
awarded to such employee pursuant to the equity incentive plan described in Section 7.16 herein or any similar plan, exceeds the sum of (y) the amount of cash (if any) paid or to be paid in accordance with Section 7.16 herein by the Company to a
Member or its Affiliate (excluding any portion of such amount that is paid as interest pursuant to Section 7.16.1.1 herein) in consideration for such option, restricted stock, or other form of equity-based compensation, multiplied by a fraction the
numerator of which is the number of shares transferred to the employee and the denominator of which is the aggregate number of shares subject to the relevant grant of equity-based compensation and (z) the aggregate exercise or purchase price paid
with respect to the number of shares purchased by the employee. For purposes of this Section 6.4.6, a Company Entity that is treated as disregarded from the Company for U.S. federal income tax purposes shall be treated as the Company.

  
 C. Section 7.16 of the Agreement is hereby amended by
restating Section 7.16 as follows: 
  
 7.16
Equity Incentive Plans 
  
 7.16.1
Equity Incentive Plans 
  
 7.16.1.1 Stock
Options Granted On or Prior to the Later of December 26, 2005 or the Date On Which AMD First Becomes Subject to Financial Accounting Statement 123R (the “Specified Date”). The Company will pay AMD, in cash, the value of stock options
granted by AMD to employees of a Company Entity on or prior to the Specified Date in accordance with the terms of this Section 7.16.1.1. The value of such stock options will be calculated using the Black-Scholes valuation method using assumptions
mutually agreed to by AMD Member and Fujitsu Member as soon as reasonably practicable following the Launch Date and adjusted thereafter as reasonably necessary and as reasonably agreed to by AMD Member and the Company and, during the 4-Year Period,
with the consent of Fujitsu Member, which consent shall not be unreasonably withheld or delayed (the “Black-Scholes Value”). The Black-Scholes Value of such stock options payable by the Company to AMD shall initially be reduced by fifteen
(15%) percent (the “Discounted Black-Scholes Value”) to take into account the likelihood that optionees of a Company Entity will forfeit and/or fail to exercise a certain number of the stock options issued by AMD. AMD Member and Fujitsu
Member shall meet on or about June 30 each year to consider adjustments to the payments made to AMD for stock options granted by AMD to employees of a Company Entity. Factors for adjustments to such payments to AMD include, but are not limited to,
the employee turnover rate at a Company Entity, the accounting and tax treatment of the option grants and payments to AMD and the method for determining the value of the AMD stock options. The Company will pay AMD the Discounted Black-Scholes Value
of a stock option in sixteen (16) equal quarterly installments plus interest at the applicable federal rate determined in accordance with Section 1274(d) of the Code. The payment of such quarterly installments shall commence on the last day of the
quarter following the quarter in which the stock option was granted. 
  

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 7.16.1.2 Stock Options Granted After the Specified Date and All Other Equity Awards. 

 
 (a) The Company will pay AMD, in cash, the value of any
stock options granted to any employee of a Company Entity after the Specified Date and the value of all other forms of equity-based compensation (including restricted stock and restricted stock units) granted by AMD to employees of a Company Entity
in accordance with the terms of this Section 7.16.1.2. 
  
 (b) For stock options granted after the Specified Date and for all other equity-based compensation granted by AMD to employees of a Company Entity, the Company will pay AMD, in cash, an amount equal to the amount of the expense recorded on
AMD’s quarterly financial statements in accordance with U.S. GAAP with respect to such form of equity-based compensation. In the event that AMD is not required to recognize an expense in its financial statements for a form of equity-based
compensation, the purchase price shall be equal to the estimated value of such form of equity-based compensation. Such estimated value shall be calculated using a method that is mutually agreed upon by the Company, Fujitsu Member and AMD Member,
which agreement shall not be unreasonably withheld. 
  
 (c) Payments required pursuant to this Section 7.16.1.2 shall be made by the Company within thirty days following the filing by AMD of the 10-Q or 10-K (as applicable) for the quarter in which such expenses are reported, in an amount equal
to the expense recorded for such fiscal quarter and attributable to awards under this Section 7.16.1.2 which amount shall be adjusted, if necessary, for any expense reversal reflected on AMD’s financial statements by reason of the forfeiture or
termination of any such underlying equity compensation (whether granted in an earlier quarter or the same quarter), but in no event shall any such adjustment duplicate an adjustment already taken into account in determining the expense recorded for
the quarter on such quarterly financial statement. 
  
 (d) AMD Member and Fujitsu Member shall meet on or about June 30 each year to negotiate in good faith as to whether any adjustments to the amount of the payments required to be made by the Company to AMD pursuant to Section 7.16.1.2(b) are
appropriate. In considering whether an adjustment is appropriate, the parties shall consider, without limitation, the employee turnover rate at a Company Entity, the accounting and tax treatment of the equity based compensation and the payments to
AMD provided under this Section 7.16.1.2 and the method for determining the value of the AMD equity based compensation. The parties may consider any other relevant factors. 
  
 7.16.1.3 Grant Considerations. AMD will consult with the HR Council with respect to grants of stock
options and other forms of equity based compensation (including restricted stock and restricted stock units) and will consider the following factors when considering such grants: 
  
 (a) whether the eligible employee is U.S.-based or Japan-based, it being understood that U.S.-based
employees may receive a greater number of options or units of any other form of equity-based compensation than equivalent Japan-based employees, provided, however, that Japan-based executives at the level of Corporate Director and above will be
eligible to receive the same number of stock options or units of any other form of equity-based compensation as their U.S.-based counterparts; and 
  

 -3- 

 (b) that all eligible employees on the U.S. payroll at a similar level of employment will
have an equitable opportunity to receive option grants or other form of equity-based compensation, regardless of whether the employee previously worked for AMD, FASL (Japan) or Fujitsu; 
  
 provided, however, that the actual grant to any employee will reflect such employee’s individual performance.

  
 7.16.2 Merger or Acquisition of the Company
or AMD 
  
 (a) In the event of any merger,
acquisition, consolidation or similar transaction to which the Company is a party (a “Company Transaction”) and in which the AMD stock options or other forms of equity-based compensation issued to Company Entity employees are assumed by a
successor entity pursuant to the Company Transaction, the Company shall pay any remaining installments of the agreed-upon purchase price of the options or other forms of equity-based compensation to such successor entity rather than AMD on the same
terms and at the same times as set forth in Section 7.16.1. 
  
 (b) In the event of any merger, acquisition, consolidation or similar transaction to which AMD is a party (an “AMD Transaction”) and in which the AMD stock options or other forms of equity-based compensation
issued to Company Entity employees are assumed by a successor entity pursuant to the AMD Transaction, the Company shall pay any remaining installments of the agreed-upon purchase price of the options or other forms of equity-based compensation to
such successor entity rather than AMD on the same terms and at the same times as set forth in Section 7.16.1. 
  
 (c) If, in connection with a Company Transaction or an AMD Transaction, the AMD stock options or other forms of equity-based compensation
terminate, notwithstanding Section 7.16.1 above, the Company shall not be required to pay any remaining installments of the agreed-upon purchase price of such terminated options or other forms of equity-based compensation to AMD or to any other
Person. 
  
 D. Miscellaneous. 
  
 1. This Amendment is limited as specified and shall not constitute a
modification, acceptance or waiver of any other provision of the Agreement. 
  
 2. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same agreement, it being understood that all of
the parties need not sign the same counterpart. This Amendment may be executed and delivered by facsimile and upon such delivery the facsimile signature shall be deemed to have the same effect as if the original signature had been delivered to the
other party. 
  
 3. THIS AMENDMENT WILL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, UNITED STATES OF AMERICA, AS APPLIED TO AGREEMENTS AMONG DELAWARE RESIDENTS ENTERED INTO AND WHOLLY TO BE PERFORMED WITHIN THE STATE OF DELAWARE (WITHOUT REFERENCE TO ANY CHOICE OR
CONFLICTS OF LAWS RULES OR PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION). 
  

 -4- 

 4. From and after the Amendment Effective Date, all references in the Agreement shall be deemed to be
references to the Agreement as modified hereby. 
  
 IN WITNESS
WHEREOF, the parties hereto have caused this Amendment to be executed as of the Amendment Effective Date. 
  

			
	MEMBERS
	
	 AMD INVESTMENTS, INC.

		
	 By:
	 	 /s/ J. Michael Woollems

	 Name:
	 	 J. Michael Woollems

	 Title:
	 	 Director

	
	 FUJITSU MICROELECTRONICS HOLDING, INC.

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 -5-

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