Document:

Exhibit 10.18

                    CONTRIBUTION AND UNITS PURCHASE AGREEMENT
                    -----------------------------------------

                  THIS   CONTRIBUTION   AND  UNITS  PURCHASE   AGREEMENT   (this
"Agreement")  is made and entered into as of May 5, 2006, by and between  Micron
Technology,  Inc.,  a  Delaware  corporation  ("Micron"),  Photronics,  Inc.,  a
Connecticut  corporation  ("Photronics"),  and MP Mask Technology Center, LLC, a
Delaware limited liability company (the "Company").

                  WHEREAS,  Micron  formed  the  Company  to serve as the  legal
entity for a joint venture (the "Joint  Venture")  between Micron and Photronics
for the development, fabrication and sale of advanced photomasks (the "Photomask
Business").

                  WHEREAS, in furtherance of establishing the Joint Venture, and
in connection  with the  execution of the Limited  Liability  Company  Operating
Agreement of MP Mask Technology, LLC (the "LLC Operating Agreement") to be dated
as of the Closing Date (as defined below), by and between Micron and Photronics,
Micron   desires  to   contribute   hereunder   as  of  the  Closing  Date  (the
"Contribution") to the Company the assets set forth on Schedule A hereto,  which
Schedule may be updated upon the reasonable  agreement of Micron and Photronics,
consistent with Section 6(h) below (the  "Transferred  Assets"),  subject to the
terms and conditions  contained in this  Agreement,  in exchange for 100% of the
membership interests (the "Membership Interests") of the Company.

                  WHEREAS,   immediately  following  the  Contribution,   Micron
desires to sell 49.99% of all of the Membership Interests, represented by 49,990
units (the "Transferred  Units"),  of the Company to Photronics,  and Photronics
desires to purchase such Membership Interests from Micron, pursuant to the terms
and conditions of this Agreement.

                  WHEREAS,  at the Closing,  Micron and  Photronics  shall enter
into  the LLC  Operating  Agreement  to set  forth  the  respective  rights  and
obligations  of Micron and  Photronics  with respect to the Company,  and, along
with the Company,  certain other Transaction Documents,  as listed on Schedule B
hereto.

                  NOW,  THEREFORE,  in  consideration  of the promises set forth
herein  and  for  other  good  and  valuable  consideration,   the  receipt  and
sufficiency  of  which is  hereby  acknowledged,  the  parties  hereby  agree as
follows:

                  1. Contribution.

                  (a)  General.  On the  terms  and  subject  to the  conditions
contained in this Agreement,  Micron shall convey, assign,  transfer and deliver
to the Company,  and the Company  shall  acquire on the Closing Date (as defined
below),  all of  Micron's  right,  title and  interest  in and to its  ownership
interests in the Transferred Assets,  subject to Permitted Exceptions respecting
only the real property located at 3851 E. Columbia Road,  Boise,  Idaho (the "JV
Plant"),  and no  other  Micron  assets  whatsoever,  in  exchange  for  100,000
membership  units of the Company (the  "Units").  "Permitted  Exceptions"  shall
mean:  (a) the lien of all ad valorem real estate  Taxes (as defined  below) due
and payable in the calendar year 2006 and  subsequent

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calendar  years;  (b) all  matters  of  record  relating  to the JV Plant in the
official  records of the  county in which such real  property  is  located;  (c)
local,  state and federal laws,  ordinances or governmental  regulations and the
like,  including  but not limited to building  and zoning laws,  ordinances  and
regulations,  now or hereafter in effect  relating to the JV Plant;  and (d) any
matters  that would be shown on an  accurate  survey of  current  date of the JV
Plant.

                  (b)  Contribution  Closing.  The  closing of the  contribution
transactions  provided for in this Agreement (the "Contribution  Closing") shall
take place at the offices of Micron at 8000 South Federal Way,  Boise,  Idaho at
the opening of business on May 5, 2006 (the "Closing Date"). At the Contribution
Closing,  Micron shall deliver to the Company deeds,  endorsements,  assignments
and good and sufficient  instruments  of conveyance,  transfer and assignment as
are  necessary,  appropriate  and  effective  to vest in the  Company all of the
right,  title  and  interest  of Micron in and to the  Transferred  Assets  and,
simultaneously  with  such  deliveries,  Micron  shall  take  such  steps as are
necessary to put the Company in actual  possession and operating  control of the
Transferred  Assets.  On the Closing Date, the Company shall issue to Micron the
Units, which shall be fully paid and nonassessable.

                  (c)   Assumption   of   Liabilities.   Effective   as  of  the
Contribution  Closing, the Company will assume and perform and in due course pay
and discharge the following  liabilities:  (i) any liabilities arising out of or
based upon events or  circumstances  occurring  after the Closing in  connection
with or  resulting  from the  operation  of the  Company's  business,  including
product warranty claims made with respect to the sale of products by the Company
after the Closing,  whether or not such products were manufactured  prior to the
Closing;  (ii) any  liabilities  set  forth  on  Schedule  C;  (iii)  any  other
liabilities   explicitly   assumed  under  the  provisions  of  the  Transaction
Documents; and (iv) any liabilities relating to the Transferred Assets that were
not Known by Micron as of the Contribution Closing  (collectively,  the "Assumed
Liabilities").  At the Contribution Closing, the Company shall deliver to Micron
appropriate assumption agreements as are necessary, appropriate and effective to
assume the Assumed Liabilities. Following the Contribution Closing, Micron shall
use reasonable efforts to assign and transfer all its rights, title and interest
in, to and under any Assumed  Contracts.  To the extent any Assumed Contract (as
defined below) is not capable of being transferred, assigned or conveyed without
the consent or waiver of a party  thereto  (other than Micron or an affiliate of
Micron) or any other third party (including governmental authority),  or if such
transfer,  assignment  or  conveyance  would  constitute  a  breach  thereof  or
violation of Applicable  Law, this  Agreement  shall not  constitute a transfer,
assignment  or  conveyance  thereof,  and  Micron  shall  hold any such  Assumed
Contract for the benefit of the Company.

                  (d)  Prorations.  On  the  Closing  Date,  or as  promptly  as
practicable  following the Closing  Date,  but in no event later than sixty (60)
calendar days thereafter,  the water, gas electricity and other utilities, local
business  or other  transferable  license  or permit  fees,  and  other  similar
periodic  charges  payable  with  respect  to the  Transferred  Assets  shall be
prorated  between  Micron and the  Company,  with Micron  bearing such costs and
expenses  attributable  to the period through and including the day prior to the
Closing Date, and the Company  bearing such costs and expenses  attributable  to
the period after the day prior to the Closing Date.

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**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

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                  (e) Taxes. Except as otherwise provided in this Agreement, (a)
all Taxes (other than transfer Taxes) in respect of the  Transferred  Assets for
the period or  portions  of  periods  ending at or prior to the day prior to the
Closing Date shall be borne solely by Micron ("Micron  Pre-Closing  Taxes"). For
purposes of the  foregoing,  any Taxes that are imposed on a periodic  basis and
are payable for a Tax period that  includes  (but does not end on) the day prior
to the Closing Date (a "Straddle Period"),  the portion of such Tax that relates
to the portion of such Tax period  ending on the day prior to the  Closing  Date
shall (A) in the case of any Taxes  other  than  Taxes  based upon or related to
income or  receipts,  be deemed to be the  amount of such Tax for the entire Tax
period multiplied by a fraction, the numerator of which is the number of days in
the Tax period  ending on the day prior to the Closing Date and the  denominator
of which is the number of days in the entire Tax period,  and (B) in the case of
any Tax based  upon or  related to income or  receipts,  be deemed  equal to the
amount  which would by payable if the relevant Tax period ended on the day prior
to the Closing  Date.  For purposes of this  Section,  all  relevant  periods in
respect of personal  property,  real  property and similar  Taxes imposed by the
State of Idaho shall be treated as beginning  after the day prior to the Closing
Date, and such Taxes in respect of the  Transferred  Assets shall be paid by the
Company.  Micron shall pay to the Company, within fifteen (15) days prior to the
date on which Taxes are due with respect to Straddle Periods,  that amount equal
to the  applicable  portion of such Taxes  which  relates to the portion of such
Taxable period ending on the day prior to the Closing Date.  Except as otherwise
provided in this Agreement,  all Taxes in respect of the Transferred  Assets for
the  period  or  portions  of  periods  beginning  after  the day  prior  to the
Contribution  Closing  shall be borne by the  Company or, to the extent that the
Company is taxed as a flow-through  entity,  with respect to income or franchise
Taxes, by the Members.  "Tax" means all taxes, levies,  imposts and fees imposed
by any Governmental Authority (domestic or foreign) of any nature, including but
not limited to federal,  state, local or foreign net income tax,  alternative or
add-on minimum tax, profits or excess profits tax,  franchise tax, gross income,
adjusted gross income or gross receipts tax,  employment  related tax (including
employee  withholding or employer  payroll tax, FICA or FUTA),  real or personal
property tax or ad valorem tax, sales or use tax, excise tax, stamp tax or duty,
any  withholding  or back up withholding  tax,  value added tax,  severance tax,
prohibited  transaction  tax,  premiums tax,  occupation tax,  together with any
interest or any penalty,  addition to tax or  additional  amount  imposed by any
Governmental  Authority (domestic or foreign)  responsible for the imposition of
any such tax.

                  2. Purchase and Sale of Membership Interests.

                  (a)  General.  At the LLC Closing (as defined  below) and upon
the terms  and  conditions  set  forth in this  Agreement,  Micron  shall  sell,
transfer and assign to  Photronics,  and  Photronics  shall purchase and acquire
from Micron,  the Transferred  Units, free and clear of all security  interests,
claims, liens,  pledges,  options,  encumbrances,  charges,  agreements,  voting
trusts, proxies and other arrangements or restrictions whatsoever, except as may
be set forth in this  Agreement  and the LLC  Operating  Agreement.  Capitalized
terms used,  but not  defined,  in this  Agreement,  shall have the meanings set
forth in the LLC Operating Agreement.

                  (b) Purchase  Price.  The total  purchase  price to be paid by
Photronics for the Units will be $63,000,000 (the "Purchase Price").

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**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

                  (c)  Closing;  Subsequent  Payments.  Subject to the terms and
conditions  contained  in this  Agreement,  the  purchase  and sale of the Units
hereunder  (the "LLC Closing" and together with the  Contribution  Closing,  the
"Closing") shall take place  immediately  following the Contribution  Closing at
the offices of Micron at the  opening of  business on May 5, 2006 (the  "Closing
Date"), or at such other place or on such other date as is mutually agreeable to
Micron and Photronics. [****]. In addition, Photronics shall make two additional
payments to Micron in payment for the balance of the Purchase  Price by delivery
to Micron,  by wire transfer of  immediately  available  funds to a bank account
designated in writing by Micron,  of an amount equal to  $7,500,000,  on each of
the first and second anniversaries of the Closing Date.

                  3. Closing Conditions.

                  (a) The obligation of Micron to sell,  transfer and assign the
Units to Photronics  hereunder is subject to the  satisfaction  of the following
conditions as of the Closing:

                     (i) the representations and warranties contained in Section
         4 hereof shall be true and correct in all  material  respects at and as
         of the date  hereof and at and as of the  Closing  Date as though  then
         made,  except to the  extent  of  changes  caused  by the  transactions
         expressly contemplated herein;

                     (ii) Micron shall have received the portion of the Purchase
         Price payable to Micron at the Closing pursuant to Section 2 above;

                     (iii) The agreements and covenants of Photronics  contained
         in this Agreement that are required to be performed  prior to or on the
         Closing Date shall have been  performed or satisfied by  Photronics  in
         all material respects;

                     (iv) Consummation of the transactions  contemplated  hereby
         and by the  Transaction  Documents  shall  not  have  been  restrained,
         enjoined or otherwise prohibited by Applicable Law or order of judgment
         or  any  Governmental  Authority  (as  defined  in  the  LLC  Operating
         Agreement); and

                     (v) Micron and  Photronics  shall have entered into the LLC
         Operating  Agreement  and the  other  Transaction  Documents,  and such
         agreements shall be in full force and effect.

                  (b) The  obligation  of Photronics to purchase and acquire the
Units from Micron is subject to the satisfaction of the following  conditions as
of the Closing:

                     (i) the representations and warranties contained in Section
         4 hereof shall be true and correct in all  material  respects at and as
         of the date  hereof and at and as of the  Closing  Date as though  then
         made,  except to the  extent  of  changes  caused  by the  transactions
         expressly contemplated herein;

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**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

                     (ii) The  agreements  and covenants of Micron  contained in
         this  Agreement  that are required to be  performed  prior to or on the
         Closing  Date shall have been  performed  or satisfied by Micron in all
         material respects;

                     (iii) The Contribution shall have occurred;

                     (iv) Consummation of the transactions  contemplated  hereby
         and by the  Transaction  Documents  shall  not  have  been  restrained,
         enjoined or otherwise prohibited by Applicable Law or order of judgment
         or any Governmental Authority; and

                     (v) Micron and  Photronics  shall have entered into the LLC
         Operating  Agreement  and the  other  Transaction  Documents,  and such
         agreements shall be in full force and effect.

                  4.  Representations  and  Warranties of Micron.  Micron hereby
represents and warrants to Photronics as follows:

                  (a)  Organization.  Each of  Micron  and the  Company  is duly
organized,  validly  existing  and  in  good  standing  under  the  laws  of its
jurisdiction of formation. Micron has all corporate power and authority required
to  conduct  its  business  as  currently  conducted  and to own and  lease  its
properties and operate its business as currently owned, leased and operated. The
Company  has all  limited  liability  company  power and  authority  required to
conduct its business as currently  conducted and to own and lease its properties
and operate its business as currently owned, leased and operated. Each of Micron
and the Company is duly qualified to do business and is in good standing (to the
extent  such  concept  exists  in  the  relevant   jurisdiction)  as  a  foreign
corporation or limited liability  company,  as applicable,  in each jurisdiction
where  the  character  of the  property  owned or  leased  or the  nature of its
activities makes such qualification  necessary,  except for those  jurisdictions
where the  failure to be so  qualified  or in good  standing  is not  reasonably
likely to result in a Material Adverse Effect on Micron or the Joint Venture, as
applicable.  A  "Material  Adverse  Effect" on a Person  (as  defined in the LLC
Operating  Agreement) or business  shall mean any facts or  circumstances  that,
individually  or in the aggregate,  would,  or might  reasonably be expected to,
result in a material  adverse  effect on the  business,  financial  condition or
results of operations of such Person or business.

                  (b) Ownership.  All of the Membership Interests of the Company
are owned by Micron, and Micron has good and marketable title to such Membership
Interests,  which  consists  of 100,000  units,  free and clear of all  security
interests, claims, liens, pledges, options,  encumbrances,  charges, agreements,
voting trusts, proxies and other arrangements or restrictions whatsoever.

                  (c)  Authorization.  Micron has all requisite  corporate power
and corporate authority to execute and deliver this Agreement, to perform all of
its obligations and  undertakings  hereunder and to consummate the  transactions
contemplated  hereby.  The execution and  performance  of this Agreement and the
sale of the Units by  Micron to  Photronics  have  been duly  authorized  by all
necessary  action  on the part of  Micron,  and  this  Agreement  has been  duly

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**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

authorized, executed and delivered by Micron and constitutes a valid and legally
binding obligation of Micron,  enforceable in accordance with its terms,  except
as  the  enforceability   thereof  may  be  limited  by  applicable  bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting the enforcement
of creditors' rights generally and general equitable principles.

                  (d) Conflicts. The execution, delivery and performance of this
Agreement by Micron or the Company does not conflict with,  violate or result in
the breach of, or create any lien or  encumbrance on the  Transferred  Assets or
the  Membership  Interests of the Company  pursuant to, any charter,  agreement,
instrument,  order,  judgment,  decree, law or governmental  regulation to which
Micron  is a party or is  subject  or by which  the  Transferred  Assets  or the
Membership  Interests  of the Company are bound.  The  execution,  delivery  and
performance of this Agreement does not and will not require any  governmental or
other third party consents or filings on the part of Micron or the Company.

                  (e) Transferred  Assets.  [****].  The Company has, except for
Permitted  Exceptions,  (i) good and marketable title to, and possession of, all
of the owned  Transferred  Assets that are real property and (ii) good and valid
title to all of the owned Transferred Assets that are not real property.  All of
the Transferred Assets are in good operating condition and repair, ordinary wear
and tear and immaterial  defects excepted.  The Company has no assets other than
the Transferred Assets and the rights under the Technology License Agreement (as
defined in the LLC Operating Agreement).

                  (f) Litigation.  To Micron's  Knowledge,  there is no material
Proceeding  pending  or  threatened  against,   relating  to  or  affecting  the
Transferred Assets or the transactions contemplated by this Agreement. "Micron's
Knowledge"  and the  related  term  "Known  by  Micron"  shall  mean the  actual
knowledge  of the  executive  officers  of  Micron,  after  due  inquiry  of the
operating  officers  of Micron  and the  Company.  "Proceeding"  shall  mean any
action,   suit,   hearing,   arbitration,   proceeding   (public  or   private),
investigation, examination, audit or claim.

                  (g) Environmental  Matters.  Except as would not reasonably be
expected  to  have a  Material  Adverse  Effect  on  the  Company,  to  Micron's
Knowledge:  (i) Micron's  operation of the Transferred  Assets has complied with
all  Environmental  Laws;  and (ii) no real property  constituting a Transferred
Asset  contains  any  Hazardous  Substance  which  could be  expected to require
investigation or remediation under any Environmental  Law.  "Environmental  Law"
shall mean any law, regulation,  order, decree, common law or agency requirement
relating  to the  protection  of the  environment  or human  health and  safety.
"Hazardous  Substance"  shall mean any substance  that is listed,  classified or
regulated in any concentration  under any Environmental Law including  petroleum
products and polychlorinated biphenyls.

                  (h)  Contracts.  All  material  contracts  or  other  material
agreements assigned to the Company by Micron in connection with the transactions
contemplated  by this  Agreement are set forth on Exhibit C hereto (the "Assumed
Contracts")  and are in full  force  and  effect  and  constitute  the valid and
legally binding obligations of the Company, enforceable in accordance

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**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

with  their  terms,  except as the  enforceability  thereof  may be  limited  by
applicable bankruptcy,  insolvency,  reorganization,  moratorium or similar laws
affecting the enforcement of creditors'  rights generally and general  equitable
principles.  Micron is not in material default under, and to Micron's Knowledge,
no other party is in material default under, any of the Assumed Contracts.

                  (i)  Sufficiency of Assets.  To Micron's  Knowledge,  upon the
execution  of,  and  consummation  of the  transactions  contemplated  by,  this
Agreement,  the Contribution Agreement and the other Transaction Documents,  (i)
the tangible  assets and  properties  of the Company as of the Closing Date will
include all of the material  tangible  assets and  properties  necessary for the
conduct of the Company's  Photomask  Business as conducted by Micron immediately
prior to the Closing (not including assets used by Micron in connection with its
performance  of  services  under the  Information  Technology,  Operational  and
General  Administrative  Services  Agreement between Micron and the Company (the
"Services  Agreement")) and (ii) the services to be performed by Micron pursuant
to the  Services  Agreement  encompass  services  sufficient  for the  continued
conduct of Micron's  Photomask Business as conducted by Micron immediately prior
the Closing. All of the material machinery and equipment located at the JV Plant
as of the date hereof  constitute  Transferred  Assets (not including (i) assets
used by Micron in connection with its performance of services under the Services
Agreement  and  (ii)  assets  used by  non-Micron  field  service  personnel  in
connection with their performance of services for the Company).

                  (j) Undisclosed Liabilities.  To Micron's Knowledge,  Micron's
Photomask Business is not subject to any material  liability,  whether absolute,
contingent,  accrued or  otherwise,  which is not shown or which is in excess of
amounts  shown or  reserved  for in the  unaudited  balance  sheet  of  Micron's
Photomask Business dated as of the date hereof and provided to Photronics on the
date hereof, which balance sheet has been prepared from, and is consistent with,
the books and records of Micron.

                  (k)  Permits.  To Micron's  Knowledge,  it  operates  Micron's
Photomask  Business  and the  Transferred  Assets  with  all  required  material
Governmental Authority approvals, permits and licenses and is in compliance with
all material terms thereof.

                  (l) No Material Adverse Effect. Since March 2, 2006, there has
not been any Material Adverse Effect on Micron's Photomask Business.

                  (m)  Compliance  with  Laws.  Micron is in  compliance  in all
material  respects  with all  Applicable  Laws  relating to or applicable to the
conduct  of  Micron's  Photomask  Business  and  the  ownership  and  use of the
Transferred Assets.

                  (n) Title Insurance.  Micron has provided Photronics with true
and  complete  copies  of the  Micron  Title  Insurance  Policies.  To  Micron's
knowledge, each of the Micron Title Insurance Policies is, and as of the Closing
will be, in full force and effect according to its terms

                  (o) Brokers and Finders.  Micron has not engaged any broker or
finder in connection with this transaction.

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**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

                  5.  Representations  and Warranties of Photronics.  Photronics
hereby acknowledges, represents and warrants to Micron as follows:

                  (a)  Organization.   Photronics  is  duly  organized,  validly
existing and in good standing under the laws of its  jurisdiction  of formation.
Photronics  has all  corporate  power and  authority  required  to  conduct  its
business as currently  conducted and to own and lease its properties and operate
its  business  as  currently  owned,  leased and  operated.  Photronics  is duly
qualified  to do business  and is in good  standing  (to the extent such concept
exists  in the  relevant  jurisdiction)  as a  foreign  corporation  or  limited
liability  company,  as applicable,  in each jurisdiction where the character of
the  property  owned or  leased  or the  nature  of its  activities  makes  such
qualification necessary,  except for those jurisdictions where the failure to be
so  qualified  or in good  standing  is not  reasonably  likely  to  result in a
Material Adverse Effect on Photronics.

                  (b)  Authorization.  Photronics  has all  requisite  corporate
power and corporate authority to execute and deliver this Agreement,  to perform
all of  its  obligations  and  undertakings  hereunder  and  to  consummate  the
transactions   contemplated  hereby.  The  execution  and  performance  of  this
Agreement and the purchase of the Units by Photronics from Micron have been duly
authorized by all necessary action on the part of Photronics, and this Agreement
has been duly authorized, executed and delivered by Photronics and constitutes a
valid and legally  binding  obligation of Photronics,  enforceable in accordance
with  its  terms,  except  as  the  enforceability  thereof  may be  limited  by
applicable bankruptcy,  insolvency,  reorganization,  moratorium or similar laws
affecting the enforcement of creditors'  rights generally and general  equitable
principles.

                  (c) Conflicts. The execution, delivery and performance of this
Agreement by Photronics does not conflict with,  violate or result in the breach
of  any  charter,  agreement,   instrument,  order,  judgment,  decree,  law  or
governmental  regulation  to  which  Photronics  is a party or is  subject.  The
execution,  delivery and  performance  of this  Agreement  does not and will not
require any  governmental or other third party consents or filings either on the
part of Photronics.

                  (d) Investment Representations.

                     (i)  Photronics  is  acquiring  the  Units  for  investment
         purposes and is not  acquiring the Units with a view to the public sale
         or  distribution  of any part thereof,  and  Photronics  has no present
         intention  of  selling,   granting   participation   in,  or  otherwise
         distributing  the Units in violation of any federal or state securities
         laws.  Photronics recognizes that it must bear the economic risk of the
         investment  represented  by its purchase of the Units for an indefinite
         period  according  to  the  terms  of  the  LLC  Operating   Agreement.
         Photronics  understands  that the Units have not been registered  under
         the  Securities  Act of 1933 on the basis that the sale provided for in
         this  Agreement is exempt under the Act and that the reliance of Micron
         on such exemptions is predicated upon such Photronics'  representations
         set forth herein.

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**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

                     (ii)   Photronics   acknowledges   and   agrees   that  any
         certificates  representing  Units  held  by  Photronics,  and  the  LLC
         Operating Agreement, will be affixed with the following legend:

         "MEMBERSHIP  INTERESTS IN MP MASK  TECHNOLOGY  CENTER,  LLC, A DELAWARE
         LIMITED LIABILITY  COMPANY,  HAVE NOT BEEN REGISTERED WITH OR QUALIFIED
         BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY SECURITIES  REGULATORY
         AUTHORITY OF ANY STATE.  THE  INTERESTS ARE BEING SOLD IN RELIANCE UPON
         EXEMPTIONS FROM SUCH  REGISTRATION OR QUALIFICATION  REQUIREMENTS.  THE
         INTERESTS CANNOT BE SOLD,  TRANSFERRED,  ASSIGNED OR OTHERWISE DISPOSED
         OF  EXCEPT  IN  COMPLIANCE  WITH THE  RESTRICTIONS  ON  TRANSFERABILITY
         CONTAINED IN THE LIMITED LIABILITY  COMPANY  OPERATING  AGREEMENT OF MP
         MASK TECHNOLOGY CENTER, LLC AND APPLICABLE FEDERAL AND STATE SECURITIES
         LAWS."

                     (iii)  Photronics  hereby   acknowledges  that  Micron  has
         provided to Photronics  no  information  regarding the Company,  or its
         business,  prospects or value, and is making no  representations  other
         than those in Section 4 hereof. Photronics further acknowledges that it
         has conducted an independent investigation and has been given access by
         the Company or parties unrelated to Micron to all information regarding
         the Company that it has  requested,  but such  investigation  shall not
         relieve  Micron  on  liability  for  breaches  of  representations  and
         warranties  made by Micron in  Section  4.  Photronics  is  capable  of
         evaluating and has evaluated the merits and risks of its acquisition of
         the Units.

                     (iv) Photronics hereby  acknowledges that Micron is relying
         on the  representations  contained in this Agreement in engaging in the
         sale of the Membership Interests of the Company and would not engage in
         the sale of the  Membership  Interests of the Company in the absence of
         the representations contained in this Agreement.

                  (e) Brokers and Finders. Photronics has not engaged any broker
or finder in connection with this transaction.

                  6. Covenants.

                  (a) Operations Prior to the Closing Date. Prior to the Closing
Date,  Micron shall  operate  Micron's  Photomask  Business and the  Transferred
Assets in the ordinary course and substantially as presently operated.

                  (b) No Sale of Assets. Except for the sale of inventory in the
ordinary  course of business and the  disposition of broken or obsolete  assets,
Micron will not, directly or indirectly,  (a) solicit any inquiries or proposals
or enter into or continue any discussions,  negotiations or agreements  relating
to the direct or indirect transfer of the Transferred Assets to

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Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

any  Person  other  than  the  Company  or (b)  provide  any  assistance  or any
information  to or otherwise  cooperate  with any Person in connection  with any
such inquiry proposal or transaction.

                  (c)  Diligence  in Pursuit  of  Closing.  Each of the  parties
hereto shall use all commercially reasonable efforts to fulfill their respective
obligations  hereunder  and  under the other  Transaction  Documents,  and shall
reasonably  cooperate  with the other  parties in regard to the same in order to
effect the Closing.

                  (d)  Maintenance  of Insurance.  Prior to the Closing,  Micron
shall  not take or fail to take any  action  that  would  adversely  affect  the
applicability  and the extent of coverage of any insurance in effect on the date
hereof, in any material respect,  that covers all or any part of the Transferred
Assets,  as and to the extent such insurance applies to and covers insured risks
for periods prior to the Closing Date.

                  (e)   Confidentiality.   The   disclosure   and   exchange  of
information between Micron and Photronics is governed solely by the terms of the
Micron  Technology,  Inc. Mutual  Nondisclosure  Agreement dated as of March 29,
2005, as amended,  and by the Nondisclosure  Agreement among Micron,  Photronics
and  the  Company   included  as  part  of  the   Transaction   Documents   (the
"Confidentiality Agreements").

                  (f) Press  Releases.  The parties  agree that,  following  the
signing of this Agreement,  they shall issue a joint press release,  the text of
which shall have been pre-approved by Micron and Photronics.  Except as required
by law or regulation,  prior to the issuance of such press release,  none of the
parties hereto shall make any public disclosure,  announcement or statement with
respect to this Agreement, the Transaction Documents or the Joint Venture or any
of the transactions contemplated by this Agreement or the Transaction Documents.

                  (g) Title.  Micron  covenants that following the Closing Date,
Micron,  without  cost to  Micron  but  for the  benefit  of the  Company,  will
diligently  and  reasonably  present  and  prosecute  to the  fullest  extent of
available coverage claims under the policies of title insurance,  and riders and
endorsements  thereto,  issued effective upon Micron's acquisition of fee simple
title to the real property  constituting  Transferred  Assets (the "Micron Title
Insurance Policy") with respect to any claim,  action,  loss or damage affecting
such property that the Company may assert against  Micron.  Micron agrees to pay
over to the Company any  proceeds  paid to Micron in respect of Micron's  claims
asserted  under the Micron Title  Insurance  Policy to the extent related to the
real property constituting Transferred Assets.

                  (h) Opening Balance Sheet.  [****].  If the net asset value of
the Transferred Assets on the Opening Balance Sheet is less than the NAV Amount,
then Micron shall  promptly  wire an amount of cash equal to such  deficiency to
the Company. If the net asset value on the Opening Balance Sheet is greater than
the NAV Amount,  then the Company  shall  promptly  wire an amount equal to such
excess to Micron.

                  7.   Survival   of   Representations   and   Warranties.   All
representations and warranties  contained herein or made in writing by any party
in connection herewith shall survive

                                     - 10 -

**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

the  execution and delivery of this  Agreement  and the Closing  hereunder for a
period  of  one  (1)  year   following   the  Closing   Date,   except  for  the
representations  and  warranties  set  forth in  Sections  4(b) and 4(c) and the
second sentence of Section 4(e),  which shall survive the execution and delivery
of this  Agreement  and the  Closing  for a period  of ten years  following  the
Closing Date.

                  8. Indemnification.

                  (a) Agreement to Indemnify.

                     (i) Micron agrees to indemnify and hold harmless Photronics
         and each of its representatives and affiliates  (including the Company)
         (each  a   "Photronics   Indemnified   Party")   against  any  and  all
         liabilities, claims, demands or losses, including reasonable attorneys'
         fees incurred by any  Photronics  Indemnified  Party arising out of, or
         resulting from, (u) any breach of any  representation  or warranty made
         by  Micron in this  Agreement  or any other  certificate  delivered  by
         Micron pursuant to this Agreement,  (v) any breach of any covenant made
         by  Micron in this  Agreement  or any other  certificate  delivered  by
         Micron  pursuant  to this  Agreement,  (w)  any  known  liabilities  of
         Micron's  Photomask Business not assumed by the Company pursuant to the
         Transaction Documents, (x) any Pre-Closing  Environmental Matter or (y)
         any products  distributed  by Micron  prior the  Closing.  "Pre-Closing
         Environmental  Matter" shall mean (a) the production,  use, generation,
         emission,  storage,  treatment,  transportation,  recycling,  disposal,
         discharge,  release or other  handling or disposition at any time on or
         prior to the Closing Date of any Hazardous Substances on, from or under
         any real property  included in the Transferred  Assets by Micron or any
         affiliate  of Micron or (b) the failure  prior to the  Closing  Date by
         Micron or any  affiliate  of Micron to operate the business on any real
         property  included in the  Transferred  Assets in  compliance  with any
         Environmental Law.

                     (ii)  Photronics  agrees  to  indemnify  and hold  harmless
         Micron and each of its  representatives  and affiliates  (including the
         Company)  (each  a  "Micron  Indemnified  Party")  against  any and all
         liabilities, claims, demands or losses, including reasonably attorneys'
         fees,  incurred  by any Micron  Indemnified  Party  arising  out of, or
         resulting from, (u) any breach of any  representation  or warranty made
         by Photronics in this Agreement or any other  certificate  delivered by
         Photronics pursuant to this Agreement or (v) any breach of any covenant
         made by Photronics in this Agreement or any other certificate delivered
         by Photronics pursuant to this Agreement.

                  (b) Limitations on Indemnification.

                     (i) [****].

                     (ii) [****].

                     (iii) After the  Closing,  with respect to any matter as to
         which  indemnification  is  provided  pursuant  to  Section  8 of  this
         Agreement, such

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Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

         indemnification  shall be the sole  remedy  available  to a  Photronics
         Indemnified  Party or  Micron  Indemnified  Party,  as the case may be;
         provided,  however,  that this  Section  8(b)(iii)  shall not limit any
         party's rights to bring a claim, action or suit for fraud or bad faith.

                  (c)  Indemnification  Procedures.  In the  event a  Photronics
Indemnified  Party or a Micron  Indemnified  Party  intends  to make a claim for
indemnification  hereunder  on behalf of himself or any  Photronics  Indemnified
Party or Micron  Indemnified Party,  respectively (an "Indemnitee"),  such party
shall notify  whichever of Micron or Photronics  against whom indemnity is being
sought  (the  "Indemnitor")  of the claim in writing  promptly  (but in no event
later than  thirty  (30) days)  after  receiving  written  notice of any action,
lawsuit,  proceeding,  investigation  or other claim  against him (if by a third
party) or  discovering  the  liability,  obligation or facts giving rise to such
claim for  indemnification,  describing the claim,  the amount thereof (if known
and quantifiable), and the basis thereof, provided that the failure to so notify
the  Indemnitor  shall not relieve the Indemnitor of his  obligations  hereunder
except to the extent such failure shall have actually prejudiced the Indemnitor.
The  Indemnitor  shall be entitled to assume and  control  (with  counsel of its
choice) the defense of the action, lawsuit,  proceeding,  investigation or other
claim giving rise to Indemnitee's  claim for  indemnification  at the option and
expense of the  Indemnitor  by sending  written  notice of its election to do so
within fifteen (15) days after  receiving  written notice of such claim from the
Indemnitee as aforesaid; provided, however, that:

                     (i) The Indemnitee  shall be entitled to participate in the
         defense  of such  claim and to employ  counsel  of its  choice for such
         purpose,  the fees and expenses of such separate counsel which shall be
         borne by the Indemnitee;

                     (ii) If the Indemnitor  elects to assume the defense of any
         such claim,  the  Indemnitor  shall be entitled to compromise or settle
         such  claim  so  long  as  either  (x)  such  settlement   provides  an
         unconditional release of all Indemnitees with respect to such claim and
         requires  the payment of monetary  damages  only or (y) the  Indemnitor
         obtains the prior  written  consent of the  Indemnitee  (which  consent
         shall not be unreasonably withheld or delayed); and

                     (iii) If the Indemnitor  shall not have assumed the defense
         of such claim within the 15-day period set forth above,  the Indemnitee
         may  assume  the   defense  of  such   action,   lawsuit,   proceeding,
         investigation  or such other claim with  counsel  selected by it (which
         counsel  shall  be  reasonably  acceptable  to the  Indemnitor)  at the
         expense of the Indemnitor,  provided that the Indemnitee shall under no
         circumstances settle or compromise such claim without the prior written
         consent of the  Indemnitor  (which  consent  shall not be  unreasonably
         withheld or delayed).

                  9.  Termination.  This Agreement may be terminated at any time
prior to the Closing (a) by mutual written  consent of the parties hereto or (b)
if the  Closing  does not occur  prior to July 1, 2006,  provided  that no party
shall be entitled to  terminate  this  Agreement  pursuant to this clause (b) if
such  party is in  breach of any  provision  hereof  or if the  Closing  has

                                     - 12 -

**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

not  occurred  despite  the  satisfaction  of the  conditions  to  such  party's
obligation to close. In the event of the termination of this Agreement  pursuant
to this Section 9, this Agreement  shall become void and of no further force and
effect,  there shall be no  liability  under this  Agreement  and all rights and
obligations of each party hereto shall cease, provided that nothing herein shall
relieve any party from liability for, or be deemed to waive any rights available
to a party by reason  of,  any  breach by the other  party or  parties of its or
their  representations,  warranties,  covenants or agreements  set forth in this
Agreement.  If the Closing  does occur,  this  Agreement  may not be  terminated
thereafter by either party without the prior written consent of the other.

                  10.  Further  Assurances.  After  the  Closing,  as  and  when
requested by Photronics,  Micron shall execute and deliver all such  instruments
of conveyance and transfer and shall take such further actions as Photronics may
deem  reasonably  necessary to transfer the Units to Photronics and to carry out
fully the provisions and purposes of this Agreement.  After the Closing,  as and
when requested by Micron,  Photronics  shall take such further actions as Micron
may deem reasonably  necessary to carry out fully the provisions and purposes of
this Agreement.

                  11. Miscellaneous.

                  (a) Successors and Assigns. This Agreement is intended to bind
and inure to the  benefit of and be  enforceable  by Micron and  Photronics  and
their respective  successors and assigns.  This Agreement may not be assigned by
either party hereto without the prior written consent of the other party to this
Agreement, which consent shall not be unreasonably withheld.

                  (b)  Amendment.  This  Agreement may be amended only through a
writing signed by all parties hereto.

                  (c) Entire Agreement and Modification.  This Agreement and all
agreements  between Micron and Photronics  entered into  concurrently  herewith,
including  the LLC  Operating  Agreement  and the other  Transaction  Documents,
together with the Confidentiality Agreements,  constitute and contain the entire
agreement  of  the  parties  and   supersede  and  preempt  any  and  all  prior
negotiations,  correspondence,  understandings,  agreements and representations,
written or oral, which may have related to the subject matter hereof.

                  (d) Choice of Law. The construction,  validity, interpretation
and enforcement of this Agreement shall be governed by the internal law, and not
the law of  conflicts,  of the State of  Delaware.  EACH OF THE  PARTIES  HERETO
HEREBY WAIVES,  TO THE FULLEST EXTENT  PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION  DIRECTLY OR INDIRECTLY
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT.  EACH OF THE PARTIES
HERETO (A)  CERTIFIES  THAT NO  REPRESENTATIVE,  AGENT OR  ATTORNEY OF THE OTHER
PARTY HAS REPRESENTED,  EXPRESSLY OR OTHERWISE,  THAT THE OTHER PARTY WOULD NOT,
IN THE  EVENT OF  LITIGATION,  SEEK TO  ENFORCE  THE  FOREGOING  WAIVER  AND (B)
ACKNOWLEDGES THAT THE PARTIES HERETO

                                     - 13 -

**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

HAVE BEEN  INDUCED TO ENTER INTO THIS  AGREEMENT,  BY, AMONG OTHER  THINGS,  THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 8(d).

                  (e)  Enforcement.  If any portion of this  Agreement  shall be
determined to be unenforceable  for any reason, it shall be adjusted rather than
voided, if possible, in order to achieve the intent of the parties to the extent
possible.  In any event,  all other  provisions of this Agreement shall be valid
and enforceable to the maximum extent possible.

                  (f) Headings.  The headings  appearing in this  Agreement have
been  inserted  for  identification  and  reference  purposes  and  shall not by
themselves determine the construction or interpretation of this Agreement.

                  (g) Notices.  Unless otherwise  provided herein,  all notices,
requests,  instructions  or consents  required or permitted under this Agreement
shall be in writing and will be deemed given: (a) when delivered personally; (b)
when sent by confirmed  facsimile;  (c) ten (10) business days after having been
sent by registered or certified mail, return receipt requested, postage prepaid;
or (d) three (3) business days after deposit with an internationally  recognized
commercial  overnight  carrier  specifying  next  day  delivery,   with  written
verification of receipt. All communications will be sent to the addresses listed
on  Exhibit  A to the LLC  Operating  Agreement  (or to such  other  address  or
facsimile  number as may be designated by a party giving  written  notice to the
other parties pursuant to Section 11.5 of the LLC Operating Agreement).

                  (h)  Counterparts.  This  Agreement  may be executed in two or
more counterparts,  each of which shall be deemed to be an original,  but all of
which taken together shall constitute one and the same agreement.

                  (i) Expenses.  Except as otherwise provided herein, each party
shall pay all costs and expenses that it incurs with respect to the negotiation,
execution, delivery, performance and consummation of this Agreement, except that
the Company shall pay any transfer  Taxes,  recording and filing fees, and other
charges  with  respect  to  the  transfer  of  the  Transferred  Assets  at  the
Contribution Closing.

                            (signature page follows)

                                     - 14 -

**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

                                                                   Exhibit 10.18

                  IN WITNESS  WHEREOF,  the parties have executed this Agreement
on the day and year first above written.

                             MICRON TECHNOLOGY, INC.

                             By:
                                  ----------------------------------------------
                             Name:
                                       -----------------------------------------
                             Title:
                                       -----------------------------------------

                             PHOTRONICS, INC.

                             By:
                                ------------------------------------------------
                             Name:
                                       -----------------------------------------
                             Title:
                                       -----------------------------------------

                             MP MASK TECHNOLOGY CENTER, LLC

                             By:
                                 -----------------------------------------------
                             Name:
                                       -----------------------------------------
                             Title:
                                       -----------------------------------------

**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

                                   Schedule A

                               Transferred Assets

                                     [****]

**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

                                   Schedule B

                              Transaction Documents

Contribution and Units Purchase Agreement among Micron, Photronics and the
Company

Limited Liability Company Operating Agreement between Micron and Photronics

Company to Micron Direct Supply Agreement between Micron and the Company

Company to Photronics Supply Agreement between Photronics and the Company

Photronics to Micron Supply Agreement between Micron and Photronics

Technology License Agreement among Micron, Photronics and the Company

Information Technology, Operational and General Administrative Services
Agreement between Micron and the Company

Operational and General Administrative Services Agreement between Photronics and
the Company

Nondisclosure Agreement among Micron, Photronics and the Company

Non-solicitation Agreement among Micron, Photronics and the Company

Assignment and Assumption Agreement between Micron and the Company

Bill of Sale between Micron and the Company

Warranty Deed between Micron and the Company

Build to Suit Lease between Micron and Photronics

                                      - 2-

**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.

<PAGE>

                                   Schedule C

                    Assumed Contracts and Assumed Liabilities

[****]

                                      - 3-

**** Material  omitted  pursuant to a request for  confidential  treatment under
Rule 24b-2 of the  Exchange  Act of 1934.  Material  filed  separately  with the
Securities and Exchange Commission.Exhibit 10.19

                          TECHNOLOGY LICENSE AGREEMENT

         This TECHNOLOGY LICENSE AGREEMENT (the "Agreement"), made this 5th day
of May, 2006 (the "Effective Date"), is by and among MICRON TECHNOLOGY, INC., a
Delaware corporation ("Micron"), PHOTRONICS, INC., a Connecticut corporation
("Photronics") and MP MASK TECHNOLOGY CENTER, LLC, a Delaware limited liability
company (the "Company").

                                    RECITALS

         WHEREAS, Micron and Photronics have formed the Company to develop and
fabricate advanced Reticles primarily dedicated to supporting Micron's prototype
and production Reticle requirements as directed by Micron and pursuant to the
Limited Liability Company Operating Agreement of even date herewith (the
"Operating Agreement") by and between Micron and Photronics;

         WHEREAS, Micron and Photronics own certain technology assets that each
will license pursuant to the terms and conditions of this Agreement (i) to the
Company so that the Company may fulfill its Objectives (defined below) and (ii)
to each other for the purposes set forth herein; and

         WHEREAS, Micron, Photronics and the Company have entered into separate
supply agreements under which Micron and Photronics will be able to obtain the
Reticles developed and fabricated using the technology licensed hereunder.

         NOW, THEREFORE, in consideration of the promises contained, and of the
obligations herein made and undertaken, the parties hereto do hereby covenant
and agree follows:

1.       DEFINITIONS

         For purposes of this Agreement, the definitions set forth in this
Section 1 shall apply to the respective capitalized terms. All capitalized terms
not defined in this Agreement shall have the meaning set forth in the Operating
Agreement.

         1.1 "Approved Technology" shall mean (i) all Technology and Software
initially provided by Micron or Photronics to the Company hereunder in
accordance with Section 3, and (ii) all other Technology and Software that has
been approved by the Technology Steering Committee for use in the Company.

         1.2 "Company Improvements" shall mean (i) all Improvements made by or
for the Company to any of the Micron Technology, Micron Software or the
Photronics Technology; (ii) all documentation, works of authorship, know-how,
data and data bases, formulae, algorithms, processes, inventions and discoveries
(whether or not patentable), Software, ideas, concepts, techniques, methods,
content, technical information; engineering, production and other designs;
drawings, schematics, tooling requirements, and other information, technology
and materials, tangible or intangible, conceived, created, developed, first
fixed in a tangible medium or first

**** Material omitted pursuant to a request for confidential treatment under
Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

reduced to practice by, for or at the Company; and (iii) all Intellectual
Property Rights in each of the foregoing.

         1.3 "Competing Product" means [****].

         1.4 "Copy Critical" shall refer to [****]

         1.5 "Copy Exact" shall refer [****].

         1.6 "Designated Facility" means [****]

         1.7 "Improvements" shall mean all derivative works of, improvements
upon and modifications to Technology.

         1.8 "Intellectual Property Right" means any patents, patent
applications, including with respect to patents any patent rights granted upon
any reissue, division, continuation or continuation-in-part applications now or
hereafter filed, or utility models issued or pending, any registered and
unregistered design rights, any copyrights (including the copyright on
Software), trade secrets, know-how, or any other intellectual property rights or
proprietary rights whether registered or unregistered, and whether now known or
hereafter recognized in any jurisdiction, excluding trade names, service names,
trademarks, service marks, and trade dress.

         1.9 "Licensed Technology" shall mean the New Technology, Standard
Technology and Unrestricted Technology, as applicable. All Company Improvements
shall be considered Licensed Technology, subject to classification thereof by
the Technology Steering Committee in accordance with Section 3.4.

         1.10 "Micron Intellectual Property Rights" shall mean all Intellectual
Property Rights (i) owned by Micron or sublicenseable by Micron on the terms of
this Agreement without obligation to pay additional consideration to a licensor;
and (ii) necessary or useful to fulfill the Objectives or to design, develop or
manufacture Reticles, including any Intellectual Property Rights assigned by the
Company to Micron in accordance with this Agreement.

         1.11 "Micron Software" shall mean the Software owned by Micron that
Micron provides to either the Company or to Photronics in accordance with this
Agreement.

         1.12 "Micron Technology" shall mean all Technology (i) owned by Micron
or sublicenseable by Micron to the Company or to Photronics on the terms of this
Agreement without obligation to pay additional consideration to a licensor; and
(ii) necessary or useful to fulfill the Objectives or to design, develop or
manufacture Reticles, including any Company Improvements owned by Micron
pursuant to this Agreement.

         1.13 "New Photronics Facility" means the new Photronics Facility to be
built pursuant to the Transaction Documents in Boise, Idaho.

         1.14 "New Technology" shall mean [****].

                                       2

**** Material omitted pursuant to a request for confidential treatment under
Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

         1.15 "Objectives" shall mean the following business purposes for which
the Company has been created and for which the Company is licensed hereunder:
(i) to develop and produce prototypes for advanced, next-generation, high-end
Reticles that meet Micron's specifications as provided to the Company from time
to time; (ii) to achieve sustainable, leading edge production capabilities using
only Approved Technology; (iii) to manufacture in production volumes approved
Reticles for Micron that meet Micron's specifications and fulfill Micron's
Reticle requirements; and (iv) to the extent the Company has excess capacity
after fulfilling all of Micron's Reticle requirements as set forth above, and as
permitted herein and pursuant to the Supply Agreement between the Company and
Photronics, manufacture prototype and production Unrestricted Reticles for
Photronics customers using only Approved Technology. These Objectives may be
changed in accordance with the procedures set forth in the Operating Agreement.

         1.16 "Photronics Controlled Subsidiary" means a subsidiary of
Photronics that is primarily in the business of developing and fabricating
Reticles and that is directly, or indirectly through one or more intermediaries,
[****], and that is controlled by Photronics.

         1.17 "Photronics Facility" shall mean [****].

         1.18 "Photronics Improvements" means Improvements made by Photronics to
Micron Technology, but not including Improvements made by Photronics employees
or subcontractors while providing services to the Company.

         1.19 "Photronics Intellectual Property Rights" shall mean all
Intellectual Property Rights (i) owned by Photronics or sublicenseable by
Photronics on the terms of this Agreement without obligation to pay additional
consideration to a licensor; and (ii) necessary or useful to fulfill the
Objectives or to design, develop or manufacture Reticles.

         1.20 "Photronics Technology" shall mean all Technology (i) owned by
Photronics or sublicenseable by Photronics to the Company or to Micron on the
terms of this Agreement without obligation to pay additional consideration to a
licensor, and (ii) necessary or useful to fulfill the Objectives or to design,
develop or manufacture Reticles.

         1.21 "Process Node" means a specific geometry loosely based on a
minimum line width at which semiconductor integrated circuit devices, and the
Reticles used in the manufacture of those devices, are manufactured; e.g.,
[****].

         1.22 "Qualified" shall mean [****].

         1.23 "Reticle" means a photomask, template or reticle that can be used
to transfer an image to a wafer or workpiece.

         1.24 "Software" shall mean computer program instruction code, whether
in human-readable source code form, machine-executable binary form, firmware,
scripts, interpretive text, or otherwise, necessary or useful to design, develop
or manufacture Reticles, including related documentation. "Software" does not
include databases and other information

                                       3

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Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

stored in electronic form, other than executable instruction codes or source
code that is intended to be compiled into executable instruction codes.

         1.25 "Specifications" shall have the meaning given thereto in the
Photronics to Micron Supply Agreement of even date herewith.

         1.26 "Standard Technology" shall mean [****]. A list of Standard
Technology, if any, as of the Effective Date is set forth in Exhibit A hereto.

         1.27 "Technology" shall mean all documentation, works of authorship,
know-how, data and data bases, formulae, algorithms, processes, inventions and
discoveries (whether or not patentable), ideas, concepts, techniques, methods,
content, technical information, engineering, production and other designs,
drawings, schematics, tooling requirements, and other information, technology
and materials, tangible or intangible, and necessary or useful to fulfill the
Objectives or to design, develop or manufacture Reticles. "Technology" shall not
include (i) Software, or (ii) customer data or information related to the
design, development or manufacture of Reticles for either Micron or Photronics
customers.

         1.28 "Technology Transfer Protocol" shall mean the preferred
methodology and protocols for Micron to provide Technology implementation
training to Photronics hereunder and for implementing that Technology at the
Designated Facility. The initial Technology Transfer Protocol is attached hereto
as Exhibit B, but may be modified from time to time by the Technology Steering
Committee.

         1.29 "Unrestricted Reticles" shall mean Reticles designed for use in
the manufacture of products other than Competing Products.

         1.30 "Unrestricted Technology" shall mean [****].

2.       LICENSES

         2.1 License Grant by Micron to Company. Subject to the terms and
conditions of this Agreement, Micron grants to the Company a royalty-free,
non-exclusive, non-transferable license, without right of sublicense, under the
Micron Intellectual Property Rights and to the Micron Technology (excluding
Software), to develop, make, use, offer to sell and sell Reticles, and to create
Improvements to the Micron Technology, solely in accordance with the Objectives.

         2.2 License Grant by Micron to Photronics. Subject to the terms and
conditions of this Agreement, including the classification procedures, use
restrictions, and conditions set forth in Section 3, Micron grants to Photronics
and to each Photronics Controlled Subsidiary a non-exclusive, worldwide,
non-transferable (except as provided in Section 9.4), fully paid-up (subject to
Section 9.4) license, [****] under the Micron Intellectual Property Rights and
to the Licensed Technology, to develop, use, make at Photronics Facilities, have
Unrestricted Reticles made by the Company, import, offer to sell and sell
Reticles, and to create Improvements to the Micron Technology.

                                       4

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Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

         2.3 License Grant by Photronics to the Company. Subject to the terms
and conditions of this Agreement, Photronics grants to Company a royalty-free,
non-exclusive, non-transferable, fully paid-up license, without right of
sublicense, under the Photronics Intellectual Property Rights and to the
Photronics Technology and Photronics Improvements, to develop, make, use,
import, offer to sell and sell Reticles, and to create Improvements to the
Micron Technology, solely in accordance with the Objectives.

         2.4 License Grant by Photronics to Micron. Subject to the terms and
conditions of this Agreement, Photronics grants to Micron a royalty-free,
non-exclusive, non-transferable, fully paid-up license, with right of sublicense
only to Photronics Improvements, under the Photronics Intellectual Property
Rights and to the Photronics Technology and Photronics Improvements, to develop,
make, have made, use, import, offer to sell and sell Reticles, and to create
Improvements to the Micron Technology.

         2.5 Software Licenses from Micron to the Company. Micron grants to the
Company, subject to the terms and conditions of this Agreement, a royalty free,
nonexclusive, limited license to reproduce, install and execute the Micron
Software that Micron provides to the Company under Section 3 solely for the
Company's internal use and only to fulfill the Objectives. The Company may make
one copy of the Micron Software in machine-readable form for backup, disaster
recovery or archival purposes only, and may make additional working copies
beyond the copies provided by Micron as are reasonably necessary for the
Company's internal use only. All such copies of Micron Software shall include
all of the copyright and other proprietary notices of Micron contained on the
original copy. The Company shall not assign, sublicense, transfer, pledge,
lease, loan, rent to or share the Micron Software with any third party (except
for Photronics personnel performing services for the Company at the Company's
facilities). The Company shall not modify, decompile, reverse engineer,
disassemble, or otherwise translate the Micron Software without the prior
written consent of Micron in each case. Micron may from time to time provide the
Company with human-readable source code for specified Micron Software. In such
event, Micron will grant to the Company, subject to the terms and conditions of
this Agreement, a royalty free, nonexclusive, limited license to reproduce, make
derivative works of, install and execute such specified Micron Software.

         2.6 Software License from Micron to Photronics. Upon the Lease
Commencement Date (as defined in the Build to Suit Lease between Micron and
Photronics of even date herewith), [****] and for use only at the New Photronics
Facility, Micron grants to Photronics, subject to the terms and conditions of
this Agreement, a royalty free, non-exclusive, limited license to reproduce,
install, and execute the Micron Software provided to Photronics pursuant to
Section 3 below.

             (a) Photronics may make one copy of the Micron Software in
machine-readable form for backup, disaster recovery or archival purposes only,
and may make additional working copies beyond the copies provided by Micron as
are reasonably necessary for Photronics' internal use only at the New Photronics
Facility. All such copies of Micron Software shall include all of the copyright
and other proprietary notices of Micron contained on the original copy. [****]
Photronics shall not assign, sublicense, transfer, pledge, lease, loan, rent to
or share the Micron Software with any third party, or use the Micron Software to
perform

                                       5

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Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

services for any third party (excluding manufacture of Reticles by Photronics
for third parties as expressly permitted under this Agreement). Photronics shall
not modify, have modified, decompile, reverse engineer, disassemble, or
otherwise translate the Micron Software without the prior written consent of
Micron in each case.

             (b) Micron may from time to time, upon the request of Photronics
and in Micron's sole discretion, provide Photronics with human-readable source
code for Micron Software. In such event, Micron will grant to Photronics, a
nonexclusive, limited license to reproduce, make derivative works of, install
and execute such Micron Software only at the New Photronics Facility and on the
terms and conditions agreed to by the parties.

             (c) Photronics acknowledges that some of the Software [****] may be
third party Software that Micron does not have the right to sublicense. Micron
will identify applicable third party Software during the process of establishing
the New Photronics Facility. Photronics shall be responsible at its own expense
to independently license such third party Software. If such third party Software
is not available to be licensed, Micron and Photronics shall consult in good
faith about alternatives to such unavailable third party Software [****].

3.       DELIVERABLES

         3.1 Initial Delivery to the Company. Micron will provide to the Company
immediately after the Effective Date all Technology retained by Micron [****].
In addition, Micron will license and deliver to the Company the Software
retained by Micron [****]. Photronics will provide to the Company promptly after
the Effective Date the Approved Technology listed on Exhibit D hereto. The
parties acknowledge that the ability to provide certain Technology and Software
to the Company will be subject to the right to sublicense third party Technology
and Software pursuant to existing license agreements. [****].

         3.2 Initial Delivery to Photronics. Within thirty (30) days following
the Effective Date, Micron will deliver to Photronics or make available to
Photronics the Licensed Technology retained by Micron [****]. In addition,
Micron will provide Photronics certain Micron Software for implementation and
use at the New Photronics Facility in accordance with the license grant set
forth in Section 2.6 above. A list of such Micron Software will be determined by
Micron prior to the Lease Commencement Date and will be provided to Photronics;
the list will include the Micron Software reasonably necessary to assist
Photronics [****]. The Licensed Technology and Micron Software will be made
available for electronic transfer in accordance with means to be mutually agreed
by Micron and Photronics, but where necessary, physical transfers may be
conducted.

         3.3 Determination of Approved Technology. The Technology Steering
Committee, pursuant to the Technology Steering Committee charter attached hereto
as Exhibit E, will create general guidelines setting forth the process for
determining whether Technology, regardless of source, will be Approved
Technology for use by the Company and will make such determinations in
accordance with the charter and the guidelines. The Technology Steering
Committee may amend these guidelines from time to time. A negative determination
will not

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Securities and Exchange Commission.

<PAGE>

preclude the Technology Steering Committee from later determining that
Technology does constitute Approved Technology.

         3.4 Determination of Licensed Technology and Availability of Licensed
Technology; Additional Deliveries of Micron Software. Within thirty (30) days
following the end of each calendar quarter, the Technology Steering Committee
will convene to analyze any Technology developed during such calendar quarter at
or by the Company. [****]. From time to time, Micron may provide Photronics
additional Micron Software [****] in accordance with the license grant in
Section 2.6. The quarterly Technology Steering Committee meetings may be used
for purposes of discussing the provision of additional Micron Software to
Photronics.

         3.5 Photronics Use Restrictions. [****].

             (a) [****].

             (b) [****].

             (c) [****].

         3.6 Photronics Improvements. Photronics will notify the Company and
Micron no less frequently than once each calendar quarter of all Photronics
Improvements recognized, logged, or recorded by Photronics pursuant to its
standard internal processes for logging or tracking Improvements or inventions
on its own behalf or for which Photronics seeks to claim, register, record, or
file an application for recognition as an Intellectual Property Right of
Photronics. Photronics promptly shall make available all such Photronics
Improvements for use by the Company. As part of the quarterly meeting of the
Technology Steering Committee pursuant to Section 3.4 above, the Technology
Steering Committee will review any Photronics Improvements identified by
Photronics as having been created the previous quarter and shall determine
whether to treat the Photronics Improvements as Approved Technology. In
addition, Micron shall have the opportunity to receive access to all Photronics
Improvements, subject to the license grant set forth in Section 2.4.

         3.7 Initial Designated Facility. [****].

         3.8 New Facility. [****].

4.       TRAINING AND SUPPORT.

         4.1 Initial Designated Facility Support. Micron agrees to provide
Photronics technical support in connection with technology module transfers (as
the term "module" is used in the Technology Transfer Protocol) [****].
Photronics may request that the designated Micron support personnel travel to
the Designated Facility to provide technical support and Micron will approve
such travel in its reasonable judgment, based on the availability of the
appropriate Micron personnel and the nature of the request, provided that
Photronics shall pay all travel expenses for any Micron approved travel. Micron
shall have no obligation to provide support for

                                       7

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Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

implementation of Licensed Technology at Photronics facilities that are not the
Designated Facility.

         4.2 Support Related to New Photronics Facility. [****].

         4.3 On-site Training in Accordance with the Technology Transfer
Protocol. In addition to the support specified in Sections 4.1, 4.2 and 4.5,
Micron and Photronics anticipate that Micron will provide Photronics onsite
training to be conducted at the Company to assist Photronics to learn and
implement the Licensed Technology and Micron Software as authorized by this
Agreement. The anticipated and preferred methodology for conducting this onsite
training is set forth in the Technology Transfer Protocol, although this may be
changed by the TSC . Both Micron and Photronics will make available the
appropriate personnel to conduct and receive the onsite training in accordance
with the guidelines and time periods set forth in the Technology Transfer
Protocol.

         4.4 Additional Support. Photronics may request additional support from
the General Manager and the General Manager may agree to provide such additional
support in its sole discretion. Any such additional support hours shall be
charged to Photronics at [****].

         4.5 Software Support. Photronics may request Software maintenance and
support from Micron. During the term, this Software maintenance and support
shall be charged to Photronics at [****]. During any wind-down period in which
Software licenses survive the termination of this Agreement or the joint venture
relationship contemplated by the Transaction Documents, Micron agrees to provide
Photronics software maintenance and support services for a period of one (1)
year for any Micron Software then installed at the New Photronics Facility at
rates and upon terms consistent with Micron's then-standard software support
rates and terms. All Micron Software support shall be subject to the terms and
conditions set forth in Section (2) of Schedule 4.1(B) of the Information
Technology, Operational and General Administrative Services Agreement of even
date herewith. To the extent that there is any conflict between the terms and
conditions of the foregoing referenced section and this Agreement, as to
Software support that Micron provides to Photronics, the terms of this Agreement
shall prevail. The New Photronics Facility may from time to time request that
Micron make enhancements or improvements to the Micron Software or other
Software installed at the New Photronics Facility. Any enhancements or
improvements to the Micron Software or other Software installed at the New
Photronics Facility are subject to the prior written approval of the Technology
Steering Committee. Subject to the approval of the Technology Steering
Committee, the same modifications may be made to the Micron Software and other
Software installed at the Company.

5.       PAYMENTS

         5.1 Initial Technology License Fee. On the Effective Date, Photronics
will pay Micron Seventy-two Million Dollars ($72,000,000) for the initial
provision of Licensed Technology and the licenses granted to Photronics under
this Agreement to use such Licensed Technology. Such amount shall be
non-refundable.

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Securities and Exchange Commission.

<PAGE>

         5.2 Costs. Unless otherwise set forth herein, each of Photronics and
Micron shall bear its own costs and expenses regarding receipt and
implementation of Technology licensed and made available to it under this
Agreement. If Photronics requests that Micron provide any support on-site at a
Photronics Facility, or otherwise requires a Micron employee to travel to
provide technical support pursuant to Section 4 above, Photronics agrees to bear
the reasonable travel and lodging expenses of the applicable Micron personnel in
addition to any other fees that may apply.

         5.3 Taxes. To the extent that any taxes are applicable to the license
and delivery of Licensed Technology and Micron Software to Photronics pursuant
to this Agreement, Photronics shall be responsible for and shall pay any
applicable sales, use, excise, withholding or similar taxes, including value
added taxes and customs duties due on the importation of Licensed Technology and
arising from the license to Photronics under this Agreement, excluding any taxes
based on Micron's net income.

6.       OWNERSHIP; INTELLECTUAL PROPERTY PROTECTION

         6.1 Ownership. Except as expressly set forth herein, this Agreement,
the delivery of Technology and Software and the licenses granted hereunder shall
not affect each of Photronics and Micron's ownership of its Technology and
Software and the Intellectual Property Rights owned by such parties and licensed
or provided to one or more parties under this Agreement. Micron shall own any
and all derivative works, enhancements, improvements or modifications to Micron
Software. All rights not expressly granted herein are reserved.

         6.2 Ownership of Company Improvements. Subject to the license grants
set forth in Section 2, Micron shall own all Company Improvements. To the extent
that Photronics or the Company obtains any ownership interest in or to such
Company Improvements, Photronics and the Company hereby assign and agree to
assign to Micron all of their right, title and interest in and to any Company
Improvements. Notwithstanding the foregoing, the Technology Steering Committee
may, in its discretion and upon Photronics' written request, determine that
certain Technology that would otherwise be deemed a Company Improvement but that
is primarily based on or derived from Photronics Technology, shall be deemed a
Photronics Improvement and treated as such under Section 6.3 below.

         6.3 Ownership of Photronics Improvements. Subject to the license grants
set forth in Section 2 and disclosure obligations set forth in Section 3.6,
Photronics shall own all Photronics Improvements and any Intellectual Property
Rights in or to such Photronics Improvements.

         6.4 Patent Prosecution. Micron shall have the right in its sole
discretion to prepare, file, prosecute and maintain, at its own expense, any
patent applications and Patents claiming Company Improvements, and to conduct
any interferences, re-examinations, reissues, oppositions or requests for patent
term extension or governmental equivalents thereto. Subject to Section 7,
Photronics shall have the right in its sole discretion to prepare, file,
prosecute and maintain, at its own expense, any patent applications and Patents
claiming Photronics

                                       9

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Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

Improvements, and to conduct any interferences, re-examinations, reissues,
oppositions or requests for patent term extension or governmental equivalents
thereto.

         6.5 Cooperation. The Company and Photronics shall each reasonably
cooperate with and assist Micron at their own expense in connection with
Micron's patent prosecution activities related to Company Improvements. The
Technology Steering Committee will (a) facilitate communication among the
parties regarding patent applications with respect to Company Improvements, (b)
discuss and provide input to Micron on patent strategy with respect to Company
Improvements, and (c) upon Micron's or Photronics request, review applications
and other substantive papers with respect to Company Improvements prior to
filing with the patent office.

6.6      Enforcement.

             (a) Notice. Micron and Photronics shall each promptly notify
Company of its knowledge of any actual or potential infringement of Intellectual
Property Rights associated with the Approved Technology.

             (b) Cooperation; Costs. Each party agrees to render such reasonable
assistance in connection with enforcement activities described in this Section
6.6 as the enforcing party may request. Costs of maintaining any such action
shall be paid by and belong to the party bringing the action.

             (c) Recoveries. If any actions are undertaken for the benefit of
the Company, any damages or settlement recovered from any such action (after the
deduction of the costs and fees of the action) shall be allocated as follows:
(i) to Micron if the action was undertaken by Micron; or (ii) to Micron and
Photronics in proportion to their actual monetary contributions to the
undertaking of the action if the action is undertaken for the benefit of the
Company and agreed upon in advance by Micron and Photronics to be shared.

             (d) Third Party Claims of Infringement. If the manufacture, use or
sale of any Reticles pursuant to this Agreement results in any claim, suit or
proceeding alleging patent infringement against the Company, Micron or
Photronics, the party named as the defendant in that claim, suit or proceeding
shall promptly notify the other parties hereto in writing setting forth the
facts of such claims in reasonable detail. The named defendant shall keep the
other parties hereto reasonably informed of all material developments in
connection with any such claim, suit or proceeding. The other parties shall,
upon request, provide reasonable assistance and cooperation to the named
defendant and may elect to participate in the defense of the claim, suit or
proceeding, at its own expense using counsel of its own choice.

7.       CONFIDENTIALITY

         All information provided, disclosed or obtained in connection with this
Agreement or the performance of any of the Parties' activities under this
Agreement shall be subject to the Confidentiality Agreement. Furthermore, the
terms and conditions of this Agreement shall be considered "Confidential
Information" under the Confidentiality Agreement for which each

                                       10

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Securities and Exchange Commission.

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Party is considered a "Receiving Party" under such agreement. [****]. To the
extent there is a conflict between this Agreement and the Confidentiality
Agreement, the terms of this Agreement shall control. Furthermore, each party
acknowledges and agrees that the authorized sale of a product under any of the
Transaction Documents shall not constitute a breach of any confidentiality
obligations under this Agreement or the Confidentiality Agreement to the extent
that the authorized sale of a product inherently discloses Confidential
Information of a Party. If the Confidentiality Agreement is terminated or
expires and is not replaced, the Confidentiality Agreement shall continue with
respect to confidential information provided in connection with this Agreement,
notwithstanding such expiration or termination, for the duration of the initial
term and any and all extension periods or until a new Confidentiality Agreement
is entered into between the parties.

8.       LIMITED REPRESENTATIONS AND WARRANTIES

         8.1 Mutual Representations. Each party hereby represents and warrants
to the other parties as follows:

         (a) The execution, delivery and performance of this Agreement by such
         party have been duly authorized by all necessary action on the part of
         such party.

         (b) This Agreement has been duly executed and delivered by such party
         and, assuming due authorization, execution and delivery by the other
         party, constitutes a legal, valid and binding obligation of such party,
         enforceable against such party in accordance with its terms.

         (c) To each party's knowledge, such party's execution, delivery and
         performance of this Agreement do not (i) violate, conflict with or
         result in the breach of any provision of the charter or by-laws (or
         similar organizational documents) of such party, or (ii) conflict with
         or violate any law or governmental order applicable to such party or
         any of its assets, properties or businesses.

         8.2 Limited Warranty. Micron and Photronics each represent and warrant
that it has all necessary right, title or interest and has obtained all
necessary consents to perform its obligations and to grant the licenses it
grants under this Agreement, and that, to its knowledge, and without conducting
specific investigation, the Technology or Software that it provides access to
under this Agreement does not infringe upon or misappropriate the Intellectual
Property Rights of any third party.

         8.3 Disclaimer. [****].

9.       TERMINATION

         9.1 Term of Agreement. This Agreement shall become effective on the
first day that it has been executed by both parties and shall remain in force
for ten (10) years and will renew automatically for additional five (5) year
terms, unless either Micron or Photronics terminates its

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participation in the Company or unless the Agreement is sooner terminated in
accordance with Section 9.2 or Section 9.3 below.

9.2      Termination.

             (a) Micron and Photronics may terminate this Agreement upon mutual
written consent.

             (b) Either Micron or Photronics may terminate this Agreement at any
time in the event that the other materially breaches this Agreement and, if the
material breach is capable of cure, such material breach continues uncured for a
period of ninety (90) days after written notice thereof. Provided that if the
breach is capable of being cured and the breaching Party has worked diligently
and in good faith since the receipt of the notice to cure such breach, but has
not cured the breach during the allotted time, the cure period will be extended
for an additional ninety (90) days.

         9.3 Other Causes for Termination. Upon dissolution of the Company, or
termination of the Operating Agreement, or a Permitted Photronics Change in
Control (as defined in the Operating Agreement), this Agreement shall
automatically terminate, and all rights to receive further disclosures of
Technology and Software shall automatically terminate.

         9.4 Permitted Photronics Change in Control License Transfer Fee.
[****].

         9.5 Survival. In the event of termination of this Agreement, the
parties' rights and obligations under Sections 4.4, 6, 7, 8, 9.4, 9.5, 10 and 11
shall survive and continue in effect. In addition, and notwithstanding anything
to the contrary contained herein, except for a termination of the Agreement
under Section 9.2(b), the licenses granted under Section 2 shall survive the
termination or expiration of this Agreement, provided that [****].

10.      LIMITATION OF LIABILITY

[****] Each party acknowledges that the foregoing limitations are an essential
element of the Agreement between the parties and that in the absence of such
limitations the pricing and other terms set forth in this Agreement would be
substantially different. Each Party shall have a duty to mitigate any damages
hereunder in accordance with applicable law.

11.      MISCELLANEOUS

         11.1 Amendments. This Agreement may not be amended without the prior
written consent of each party hereto.

         11.2 No Waiver. Any provision of this Agreement may be waived if, and
only if, such waiver is in writing and is duly executed by the party against
whom the waiver is to be enforced. No failure or delay by any party in
exercising any right, power or privilege under this Agreement shall operate as a
waiver thereof nor shall any single or partial waiver or exercise thereof
preclude the enforcement of any other right, power or privilege.

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         11.3 Notices. Unless otherwise provided herein, all notices, requests,
instructions or consents required or permitted under this Agreement shall be in
writing and will be deemed given: (a) when delivered personally; (b) when sent
by confirmed facsimile; (c) ten (10) Business Days after having been sent by
registered or certified mail, return receipt requested, postage prepaid; or (d)
three (3) Business Days after deposit with an internationally recognized
commercial overnight carrier specifying next-day delivery, with written
verification of receipt. All communications will be sent to the addresses listed
on Exhibit A of the Operating Agreement (or to such other address or facsimile
number as may be designated by a party giving written notice to the other
parties pursuant to this Section 11.3).

         11.4 Independent Development. Subject to the license restrictions and
confidentiality obligations set forth in this Agreement, nothing in this
Agreement shall be construed to preclude either Micron or Photronics from
directly or indirectly designing, developing, acquiring, using, marketing,
licensing or selling any technology, prototypes, or production Reticles that is
similar, related to or competitive with those developed, designed or
manufactured by the other party or by the Company.

         11.5 Governing Law. This Agreement 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).

         11.6 Construction; Interpretation.

             (a) Certain Terms. The words "hereof," "herein," "hereunder" and
similar words refer to this Agreement as a whole and not to any particular
provision of this Agreement. The term "including" is not limited and means
"including without limitation."

             (b) Section References; Titles and Subtitles. Unless otherwise
noted, all references to Sections and Exhibits herein are to Sections and
Exhibits of this Agreement. The titles, captions and headings of this Agreement
are inserted for convenience of reference only and are not intended to be a part
of or to affect the meaning or interpretation of this Agreement.

             (c) Reference to Persons, Agreements, Statutes. Unless otherwise
expressly provided herein, (i) references to a Person include its successors and
permitted assigns, (ii) references to agreements (including this Agreement) and
other contractual instruments shall be deemed to include all subsequent
amendments, restatements and other modifications thereto or supplements thereof
and (iii) references to any statute or regulation are to be construed as
including all statutory and regulatory provisions consolidating, amending,
replacing, supplementing or interpreting such statute or regulation.

             (d) Presumptions. No party, nor its counsel, shall be deemed the
drafter of this Agreement for purposes of construing the provisions of this
Agreement, and all provisions of this Agreement shall be construed in accordance
with their fair meaning, and not strictly for or against any party.

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         11.7 Rights and Remedies Cumulative. The rights and remedies provided
by this Agreement are cumulative and the use of any one right or remedy by any
party shall not preclude or waive its right to use any or all other remedies.
Said rights and remedies are given in addition to any other rights the parties
may have by law, statute, ordinance or otherwise.

         11.8 No Assignment; Binding Effect. Except as otherwise expressly
provided in Section 9.4, no party may assign, delegate or otherwise transfer any
of its rights or obligations hereunder to any third party, whether by
assignment, transfer, Change in Control, or other means, without the prior
written consent of each other party. Any attempted assignment in violation of
the foregoing shall be null and void. Subject to the foregoing, this Agreement
shall be binding on and inure to the benefit of the parties, their heirs,
executors, administrators, and successors.

         11.9 Severability. If any provision in this Agreement will be found or
be held to be invalid or unenforceable, then the meaning of said provision will
be construed, to the extent feasible, so as to render the provision enforceable,
and if no feasible interpretation would save such provision, it will be severed
from the remainder of this Agreement which will remain in full force and effect
unless the severed provision is essential and material to the rights or benefits
received by any party. In such event, the parties will use their respective best
efforts to negotiate, in good faith, a substitute, valid and enforceable
provision or agreement which most nearly affects the parties' intent in entering
into this Agreement.

         11.10 Counterparts. This Agreement may be executed in counterparts,
each of which so executed will be deemed to be an original and such counterparts
together will constitute one and the same agreement. Execution and delivery of
this Agreement by exchange of facsimile copies bearing the facsimile signature
of a party shall constitute a valid and binding execution and delivery of this
Agreement by such party.

         11.11 Dispute Resolution. The parties hereby agree that claims,
disputes or controversies of whatever nature, arising out of, in connection
with, or in relation to the interpretation, performance or breach of this
Agreement (or any other agreement contemplated by or related to this Agreement),
shall be resolved in accordance with the dispute resolution procedures set forth
in the Operating Agreement.

         11.12 Third-Party Beneficiaries. None of the provisions of this
Agreement shall be for the benefit of or be enforceable by any creditor of the
Company or by any third-party creditor of any Member. This Agreement is not
intended to confer any rights or remedies hereunder upon, and shall not be
enforceable by, any Person other than the parties hereto, their respective
successors and permitted assigns.

         11.13 Entire Agreement. This Agreement, together with the other
documents, exhibits and schedules referred to herein and therein, constitute the
entire agreement among the parties hereto pertaining to the subject matter
hereof, and supersede any and all prior oral and written, and all
contemporaneous oral, agreements or understandings pertaining thereto. There are
no agreements, understandings, restrictions, warranties or representations
relating to such subject

                                       14

**** Material omitted pursuant to a request for confidential treatment under
Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

matter among the parties other than those set forth herein and in the other
documents, exhibits and schedules referred to herein and therein.

         IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement as of the day and year first above written.

                                   MICRON TECHNOLOGY, INC.

                                   By:
                                        ----------------------------------------
                                   Name:
                                          --------------------------------------
                                   Title:
                                         ---------------------------------------

                                   PHOTRONICS, INC.

                                   By:
                                        ----------------------------------------
                                   Name:
                                          --------------------------------------
                                   Title:
                                         ---------------------------------------

                                   MP MASK TECHNOLOGY CENTER, LLC

                                   By:
                                        ----------------------------------------
                                   Name:
                                          --------------------------------------
                                   Title:
                                         ---------------------------------------

EXHIBITS:

Exhibit A:  Approved Technology and Licensed Technology
Exhibit B:  Technology Transfer Protocol
Exhibit C:  Software
Exhibit D:  Approved Technology of Photronics
Exhibit E:  Technology Steering Committee Charter

                                       15

**** Material omitted pursuant to a request for confidential treatment under
Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

                                                                   Exhibit 10.19

                                    Exhibit A

                   Approved Technology and Licensed Technology

     [****]

 **** Material omitted pursuant to a request for confidential treatment under
Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

                            Attachment 1 to Exhibit A

                        Initial Approved Technology List

[****]

                                       17

 **** Material omitted pursuant to a request for confidential treatment under
Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

                                    Exhibit B

                          Technology Transfer Protocol

     [****]

                                       18

 **** Material omitted pursuant to a request for confidential treatment under
Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

                                    Exhibit C

                                    Software

[****]

                                       19

 **** Material omitted pursuant to a request for confidential treatment under
Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

                                                                   Exhibit 10.19

                                    Exhibit D

                        Approved Technology of Photronics

[****]

 **** Material omitted pursuant to a request for confidential treatment under
Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

<PAGE>

                                                                   Exhibit 10.19

                                    Exhibit E

                      Technology Steering Committee Charter
[****]

 **** Material omitted pursuant to a request for confidential treatment under
Rule 24b-2 of the Exchange Act of 1934. Material filed separately with the
Securities and Exchange Commission.

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