Document:

exv10w2

Exhibit 10.2

	 	 	 

	To:

	 	Atmel SARL as the borrower under
	 

	 	the Facility Agreement defined below
	 

	 	(the “Borrower”)
	 
	 	 
	 

	 	Atmel Corporation as a guarantor and
	 

	 	as the US parent of the Borrower
	 

	 	(the “US Parent”)
	 
	 	 
	 

	 	Atmel Switzerland SARL as a guarantor
	 

	 	(the “Swiss Parent” and, together with the US Parent,
	 

	 	the “Guarantors”)
	 
	 	 
	From:

	 	Bank of America, N.A.
	 

	 	as facility agent under the Facility Agreement
	 

	 	(the “Facility Agent”)

August 3, 2010

Dear Sirs

FACILITY AGREEMENT WAIVER (THE “WAIVER LETTER”)

	1.	 	DEFINITIONS
	 
	(a)	 	We refer to a US$165,000,000 facility agreement dated 15 March 2006 between, among others,
(1) the Borrower, (2) the Guarantors, (3) the Lenders party thereto, (4) the Facility Agent
and (5) Bank of America, N.A. as Security Agent (as amended, supplemented, varied, novated
and/or restated from time to time, the “Facility Agreement”).
	 
	(b)	 	The Borrower has asked us to waive the obligation of the US Parent under Clause 21.1 (Fixed
Charge Coverage Ratio) of the Facility Agreement not to permit the Fixed Charge Coverage Ratio
for the Relevant Period ending on 30 June 2010 (only) to fall below 1.10:1 with further
background as set out in the letter dated 23 July 2010 from the US Parent to the Facility
Agent (the “Waiver Request”).
	 
	(c)	 	Unless otherwise defined, terms defined in the Facility Agreement have the same meaning in
this letter. Clause references herein are to clauses of the Facility Agreement.
	 
	2.	 	WAIVER
	 
	 	 	Subject to the terms of this Waiver Letter and acting on the instructions of the Majority
Lenders, we hereby consent to the Waiver Request and, accordingly, waive (a) the application
of Clause 21.1 (Fixed Charge Coverage Ratio) solely for the Relevant Period ending on 30
June 2010 (the “Waiver”) and (b) any Event of Default that arose (if any) as a result of
failure to comply with Clause 21.1 for such Relevant Period.

 

 

	3.	 	CONDITIONS
	 
	 	 	The Waiver shall be effective on and from the date on which we, in our capacity as Facility
Agent confirm receipt of a copy of this Waiver Letter duly counter-signed on behalf of the
Borrower and the Guarantors (in form and substance satisfactory to us).
	 
	4.	 	RESERVATION OF RIGHTS
	 
	 	 	The Waiver contained in this Waiver Letter is given strictly on the basis of the terms of
this Waiver Letter and without prejudice to the rights of the Finance Parties. Save as
expressly stated in this Waiver Letter, nothing in this Waiver Letter shall be deemed to
constitute a waiver of any Default or any further amendment or consent under any Finance
Document whatsoever and the terms of the Finance Documents remain in full force and effect.
	 
	5.	 	REPRESENTATIONS
	 
	 	 	The Borrower and each Guarantor by countersigning this Waiver Letter hereby confirms that on
the date of this Waiver Letter each of the representations and warranties listed in
paragraph (e) of Clause 17.1 (Representations and Warranties) or stated to repeat in
accordance with Clause 17.2 (Repetition) with respect to the facts and circumstances then
existing is true and correct.
	 
	6.	 	STATUS OF DOCUMENTS
	 
	 	 	By countersigning this Waiver Letter, the Borrower and the Guarantors each hereby confirms
its agreement to the terms of this Waiver Letter and further confirms that its obligations
under the Finance Documents (including, without limitation, the guarantees and security
(including the priority of ranking of such security) provided thereby) shall continue in
full force and effect.
	 
	7.	 	MISCELLANEOUS
	 
	(a)	 	This Waiver Letter is designated as a Finance Document.
	 
	(b)	 	This Waiver Letter may be executed in counterparts (whether by fax or electronic copies such
as PDF, or otherwise, but if by fax or electronic copies, with the original signed letter
being promptly sent to the other party hereto) and all such counterparts taken together shall
constitute one and the same instrument.
	 
	(c)	 	If any provision of this Waiver Letter is or becomes invalid, illegal or unenforceable in any
respect under any law, the validity, legality and enforceability of the remaining provisions
shall not be affected or impaired in any way.
	 
	(d)	 	The Contracts (Rights of Third Parties) Act 1999 shall not apply to this Waiver Letter and no
person other than the parties to this Waiver Letter shall have any rights under it.
	 
	(e)	 	This Waiver Letter shall be, governed by English law. The provisions of Clause 40
(Jurisdiction) of the Facility Agreement will apply to this Waiver Letter mutatis mutandis.

Yours faithfully

-2-

 

	 	 	 

	/s/ Lee Masters
 

for and on behalf of

	 	 
	BANK OF AMERICA, N.A.
	 	 
	(as Facility Agent, acting for and on behalf of, and on the instructions of, the Majority Lenders)

-3-

 

We hereby acknowledge and agree to the terms of the above.

	 	 	 

	/s/ Stephen Cumming
 

for and on behalf of

	 	 
	ATMEL SARL
	 	 
	as Borrower
	 	 
	 
	 	 
	/s/ Stephen Cumming
 

for and on behalf of

	 	 
	ATMEL CORPORATION
	 	 
	as US Parent and Guarantor
	 	 
	 
	 	 
	/s/ Stephen Cumming
 

for and on behalf of

	 	 
	ATMEL SWITZERLAND SARL
	 	 
	as Swiss Parent and Guarantor
	 	 

-4-exv10w1

Exhibit 10.1

			
	 	 	 
	
	 	

September 21, 2010

Carlos J. Vázquez

Individual Lending Group

Dear Carlos:

We are pleased to extend you an offer related to your assignment as President of Banco Popular
North America (“BPNA”). This position reports directly to Mr. Richard L. Carrión, President and
Chief Executive Officer of Popular, Inc. (“Popular”). This appointment will be effective on
September 21, 2010.

Your annualized base salary will be $600,000.00. You will participate in an annual incentive plan
based on Popular’s financial results and your individual performance in accordance with
pre-established objectives. The incentive could represent up to an additional 50% of your earned
base salary and will be payable in Popular, Inc.’s restricted stock. All incentive plans are
subject to changes due to financial results and federal regulations.

This offer also includes the following components:

	•	 	A car allowance of $24,000 per year. Your current corporate vehicle will be sold in Puerto
Rico by Popular. Proceeds from the sale will be allocated between Banco Popular de Puerto Rico
(“BPPR”) and you based the original investment rate of 90% and 10%, respectively.

	•	 	A housing allowance of $6,250 per month. At the end of the third year, you and Popular will
evaluate the allowance amount in order to determine whether any adjustment is deemed necessary
under the circumstances. Also, the housing allowance will be adjusted annually for any
escalation clause established in the lease agreement.

	•	 	Relocation benefits:

	 	1.	 	Home finding trip — up to six calendar days for you and your spouse.
	 
	 	2.	 	Final move trip — for you and your family.
	 
	 	3.	 	Temporary accommodations — up to two months prior to moving into new home.
	 
	 	4.	 	Shipping and storage — for household goods, up to 30 days in PR and USA.
Maximum weight of 15,000 pounds.

	 	•	 	Insurance at replacement cost (limitations on works of art)
	 
	 	•	 	One automobile
	 
	 	•	 	Pets
	 
	 	•	 	No bulky articles or recreational vehicles

	 	5.	 	Tax assistance

	 	•	 	Tax advisory services/consultations
	 
	 	•	 	Tax return preparation for PR and USA during first two years

 

 

Page 2 of 2 — Offer letter

	•	 	Employee 401(k) Plan
	 
	 	 	You are eligible to make tax-deferred contributions, from 1% to 70% of total compensation,
through payroll deduction. The contributions will be subject to IRS limits of $22,000 ($16,500
for regular pre-tax and $5,500 characterized as catch-up).

	•	 	Retirement Plan

	 	 	Your current frozen benefit under the BPPR Retirement Plan of $5,938 will be preserved in BPNA.

	•	 	Medical Plan

	 	 	A comprehensive medical plan sponsored by the company for you, including prescription drugs and
dental plan. Coverage for your family and enhanced medical and dental coverage is also available
with optional employee contributions.

	•	 	Retiree Medical Benefit

	 	 	You are eligible to the post-retirement medical plan and Popular will consider your service
years at BPNA to determine your percentage of contribution.

We are totally committed to the values and vision that guide Popular, for we believe we are
guardians of a long tradition of excellence. We are confident that you will find your new
employment to be challenging as well as rewarding.

If you have any questions, please do not hesitate to call me at 787-765-9800, extension 7055.

	 	 	 	 	 
	Sincerely,

 	 
	/s/ Eduardo J. Negrón
 	 
	Eduardo J. Negrón 	 
	Executive Vice President

People Group

Popular, Inc. 	 
	 

Popular is an Equal Opportunity Employer (M/F/V/D)

- 2 -exv10w1

Exhibit 10.1

AMENDMENT NO. 1

TO

LOAN AND SECURITY AGREEMENT

     This Amendment No. 1 to Loan and Security Agreement (this “Amendment”) is
entered into this 20th day of September, 2010 by and between Alexza
Pharmaceuticals, Inc., a Delaware corporation (“Parent”), Symphony Allegro, Inc., a
Delaware corporation (“Allegro”, and together with Parent, collectively, “Borrower”), and
Hercules Technology  Growth Capital, Inc., a Maryland corporation (“Lender”). Capitalized terms
used herein without definition shall have the same meanings given them in the Loan Agreement (as
defined below).

Recitals

     A. Borrower and Lender have entered into that certain Loan and Security Agreement
dated as of May 4, 2010 (as may be amended, restated, or otherwise modified, the “Loan
Agreement”), pursuant to which the Lender has agreed to extend and make available to
Borrower certain advances of money.

     B. Borrower and Lender have agreed to amend the Loan Agreement upon the terms
and conditions more fully set forth herein.

Agreement

     NOW, THEREFORE, in consideration of the foregoing Recitals and intending to be legally bound,
the parties hereto agree as follows:

     1. Amendments.

          1.1 Section 3.1 (Security Interest). The proviso at the end of the first sentence of Section
3.1 is hereby amended and restated in its entirety as follows:

          “; provided, however, that the Collateral shall not include (i) the Borrower’s
Intellectual Property but shall include all Accounts and General Intangibles that consist of rights
to payment and proceeds from the sale, licensing or disposition of all or any part, or rights in,
the Intellectual Property (the “Rights to Payment”) and (ii) the Equipment listed on Schedule A
hereto (and all additions, attachments, accessories and accessions thereto, and any and all
substitutions, replacements or exchanges therefore, and all insurance or other proceeds thereof)
securing the Indebtedness to GE permitted pursuant to clause (ii) of the defined term “Permitted
Indebtedness”, provided, that, notwithstanding that certain Partial Release, dated as of September
20, 2010, by Borrower and Lender in favor or GE, upon payment in full of such Indebtedness to GE
the Collateral shall include such Equipment.”

     2. Borrower’s Representations And Warranties. Borrower represents and
warrants that:

 

 

               (a) immediately upon giving effect to this Amendment (i) the representations and warranties
contained in the Loan Documents are true, accurate and complete in all material respects as of the
date hereof (except to the extent such representations and warranties relate to an earlier date,
in which case they are true and correct as of such date), and (ii) no Event of Default has
occurred and is continuing;

               (b) Borrower has the corporate power and authority to execute and deliver this Amendment and
to perform its obligations under the Loan Agreement, as amended by this Amendment;

               (c) the certificate or articles of incorporation, bylaws and other organizational documents
of Borrower delivered to Lender on the Closing Date remain true, accurate and complete and have
not been amended, supplemented or restated and are and continue to be in full force and effect;

               (d) the execution and delivery by Borrower of this Amendment and the performance by Borrower
of its obligations under the Loan Agreement, as amended by this Amendment, have been duly
authorized by all necessary corporate action on the part of Borrower;

               (e) this Amendment has been duly executed and delivered by Borrower and is the binding
obligation of Borrower, enforceable against it in accordance with its terms, except as such
enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium
or other similar laws of general application and equitable principles relating to or affecting
creditors’ rights; and

               (f) as of the date hereof, it has no defenses against the obligations to pay any amounts
under the Obligations. Borrower acknowledges that Lender has acted in good faith and has conducted
in a commercially reasonable manner its relationships with Borrower in connection with this
Amendment and in connection with the Loan Documents.

          Borrower understands and acknowledges that Lender is entering into this Amendment in reliance
upon, and in partial consideration for, the above representations and warranties, and agrees that
such reliance is reasonable and appropriate.

     3. Limitation. The amendments set forth in this Amendment shall be limited
precisely as written and shall not be deemed (a) to be a waiver or modification of any other term
or condition of the Loan Agreement or of any other instrument or agreement referred to therein or
to prejudice any right or remedy which Lender may now have or may have in the future under or in
connection with the Loan Agreement or any instrument or agreement referred to therein; or (b) to be
a consent to any future amendment or modification or waiver to any instrument or agreement the
execution and delivery of which is consented to hereby, or to any waiver of any of the provisions
thereof. Except as expressly amended hereby, the Loan Agreement shall continue in full force and
effect.

     4. Effectiveness. This Amendment shall become effective upon the
satisfaction of all the following conditions precedent:

2

 

          4.1 Amendment. Borrower and Lender shall have duly executed and delivered this Amendment
to Lender.

     5. Counterparts. This Amendment may be signed in any number of counterparts,
and by different parties hereto in separate counterparts, with the same effect as if the signatures
to each such counterpart were upon a single instrument. All counterparts shall be deemed an
original of this Amendment.

     6. Integration. This Amendment and any documents executed in connection
herewith or pursuant hereto contain the entire agreement between the parties with respect to the
subject matter hereof and supersede all prior agreements, understandings, offers and negotiations,
oral or written, with respect thereto and no extrinsic evidence whatsoever may be introduced in
any judicial or arbitration proceeding, if any, involving this Amendment; except that any
financing statements or other agreements or instruments filed by Lender with respect to Borrower
shall remain in full force and effect.

     7. Governing Law; Venue. THIS AMENDMENT SHALL BE GOVERNED BY AND SHALL BE
CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA. Borrower and Lender
each submit to the exclusive jurisdiction of the State and Federal courts in Santa Clara County,
California.

[signature page follows]

3

 

     In Witness Whereof, the parties have duly authorized and caused this Amendment to be
executed as of the date first written above.

	 	 	 	 	 
	BORROWER:

ALEXZA PHARMACEUTICALS, INC.

 	 	 
	By:  	/s/ August J. Moretti
 	 	 
	 	Name:  	AUGUST J. MORETTI 	 	 
	 	Title:  	CFO 	 	 
	 
	SYMPHONY ALLEGRO, INC.

 	 	 
	By:  	/s/ August J. Moretti
 	 	 
	 	Name:  	AUGUST J. MORETTI 	 	 
	 	Title:  	TREASURER 	 	 
	 

	 	 	 	 	 
	LENDER:

HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

 	 	 
	By:  	/s/
K. Nicholas Martitsch 	 	 
	 	Name:  	K. Nicholas Martitsch  	 	 
	 	Title:  	Associate General Counsel

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