Document:

mosy-ex413_8.htm

Exhibit 4.13

 

MOSYS, INC.
2019 STOCK INCENTIVE PLAN
NOTICE OF RESTRICTED STOCK UNIT AWARD

You have been granted the following Restricted Stock Units (the “Restricted Stock Units” or this “Award”) representing shares of Common Stock of MoSys, Inc. (the “Company”) under the MoSys, Inc. 2019 Stock Incentive Plan (as may be amended from time to time, the “Plan”):

		
	
Name of Recipient:
	
[Name of Recipient]

	
Grant Date:
	
[Date of Grant]

	
Total Number of Shares Subject to Restricted Stock Units:
	
[Total Shares]

	
Vesting Commencement Date:
	
[Vesting Commencement Date]

	
Vesting Schedule:
	
[The RSUs vest when you complete [l] months of continuous Service as an Employee or a Consultant from the Vesting Commencement Date.  Actual vesting schedule to be inserted.]

By your written signature below (or your electronic acceptance) and the signature of the Company’s representative below, you and the Company agree that the RSUs are granted under and governed by the term and conditions of the Plan and the Restricted Stock Unit Agreement (this “Agreement”), both of which are attached to and made a part of this document.

By your written signature below (or your electronic acceptance), you further agree that the Company may deliver by e-mail all documents relating to the Plan or this Award (including without limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that the Company is required to deliver to its security holders (including without limitation, annual reports and proxy statements).  You also agree that the Company may deliver these documents by posting them on a website maintained by the Company or by a third party under contract with the Company.  If the Company posts these documents on a website, it will notify you by e-mail.  Should you electronically accept this Agreement, you agree to the following: “This electronic contract contains my electronic signature, which I have executed with the intent to sign this Agreement.”

		
	
RECIPIENT
	
MOSYS, INC.

	

Recipient’s Signature

Recipient’s Printed Name
	
By:

Title:

 

 

MOSYS, INC.
2019 STOCK INCENTIVE PLAN
RESTRICTED STOCK UNIT AGREEMENT

		
	
The Plan and Other Agreements
	
The RSUs that you are receiving are granted pursuant and subject in all respects to the applicable provisions of the Plan, which is incorporated herein by reference.  Capitalized terms not defined in this Agreement will have the meanings ascribed to them in the Plan.  

The attached Notice, this Agreement and the Plan constitute the entire understanding between you and the Company regarding this Award.  Any prior agreements, commitments or negotiations concerning this Award are superseded.  This Agreement may be amended by the Committee without your consent; however, if any such amendment would materially impair your rights or obligations under this Agreement, this Agreement may be amended only by another written agreement, signed by you and the Company.

	
Payment for RSUs
	
No cash payment is required for the RSUs you receive.  You are receiving the RSUs in consideration for Services rendered by you.

	
Vesting
	
The RSUs that you are receiving will vest in installments, as shown in the Notice of RSU Award.  No additional RSUs vest after your Service as an Employee or a Consultant has terminated for any reason.

	
Forfeiture 
	
If your Service terminates for any reason, then this Award expires immediately as to the number of RSUs that have not vested before the termination date and do not vest as a result of termination.  This means that the unvested RSUs will immediately be cancelled.  You receive no payment for RSUs that are forfeited.  The Company determines when your Service terminates for this purpose and all purposes under the Plan and its determinations are conclusive and binding on all persons.

	
Leaves of Absence
	
For purposes of this Award, your Service does not terminate when you go on a military leave, a sick leave or another bona fide leave of absence, if the leave of absence was approved by the Company in writing and if continued crediting of Service is required by the terms of the leave or by applicable law.  But your Service terminates when the approved leave ends, unless you immediately return to active work.

	
 
	
If you go on a leave of absence, then the vesting schedule specified in the Notice of Restricted Stock Unit Award may be adjusted in accordance with the Company’s leave of absence policy or the terms of your leave.  If you commence working on a part-time basis, then the vesting schedule specified in the Notice of Restricted Stock Unit Award may be adjusted in accordance with the Company’s part-time work policy or the terms of an agreement between you and the Company pertaining to your part-time schedule.

2

 

 

		
	
Nature of RSUs
	
Your RSUs are mere bookkeeping entries.  They represent only the Company’s unfunded and unsecured promise to issue Shares on a future date.  

As a holder of RSUs, you have no rights other than the rights of a general creditor of the Company.

	
No Voting Rights or Dividends
	
Your RSUs carry neither voting rights nor rights to dividends.  You, or your estate or heirs, have no rights as a stockholder of the Company unless and until your RSUs are settled by issuing Shares.  No adjustments will be made for dividends or other rights if the applicable record date occurs before your Shares are issued, except as described in the Plan.

	
RSUs Nontransferable
	
You may not sell, transfer, assign, pledge or otherwise dispose of any RSUs.  For instance, you may not use your RSUs as security for a loan.  If you attempt to do any of these things, your RSUs will immediately become invalid.

	
Settlement of RSUs
	
Each of your vested RSUs will be settled when it vests; provided, however, that settlement of each RSU will be deferred to the first permissible trading day for the Shares, if later than the applicable vesting date, but in no event later than two and one-half (2-1/2) months following the calendar year in which the applicable vesting date occurs.

For purposes of this Agreement, “permissible trading day” means a day that satisfies all of the following requirements: (1) the exchange on which the Shares are traded is open for trading on that day; (2) you are permitted to sell Shares on that day without incurring liability under Section 16(b) of the Exchange Act; (3) either (a) you are not in possession of material non-public information that would make it illegal for you to sell Shares on that day under Rule 10b-5 under the Exchange Act or (b) Rule 10b5-1 under the Exchange Act would apply to the sale; (4) you are permitted to sell Shares on that day under such written insider trading policy as may have been adopted by the Company; and (5) you are not prohibited from selling Shares on that day by a written agreement between you and the Company or a third party.

At the time of settlement, you will receive one Share for each vested RSU; provided, however, that no fractional Shares will be issued or delivered pursuant to the Plan or this Agreement, and the Committee will determine whether cash will be paid in lieu of any fractional Share or whether such fractional Share and any rights thereto will be canceled, terminated or otherwise eliminated.  In addition, the Shares are issued to you subject to the condition that the issuance of the Shares not violate any law or regulation.

3

 

 

		
	
Withholding Taxes and Stock Withholding 
	
Regardless of any action the Company and/or the Subsidiary or Affiliate employing you (“Employer”) takes with respect to any or all income tax, social insurance, payroll tax, payment on account or other tax-related withholding (“Tax-Related Items”), you acknowledge that the ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the Company and/or your Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of this Award, including the award, vesting or settlement of the RSUs, the subsequent sale of Shares acquired pursuant to settlement and the receipt of any dividends; and (2) do not 

commit to structure the terms of the award or any aspect of the RSUs to reduce or eliminate your liability for Tax-Related Items.

Prior to the settlement of the RSUs, you shall pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all withholding and payment on account obligations of the Company and/or your Employer.  In this regard, you authorize the Company and/or your Employer to withhold all applicable Tax-Related Items legally payable by you from your wages or other cash compensation paid to you by the Company and/or your Employer.  With the Company’s consent, these arrangements may also include, if permissible under local law, (a) withholding Shares that otherwise would be issued to you when the RSUs are settled, provided that the Company only withholds Shares having a Fair Market Value equal to the amount necessary to satisfy the maximum legally required tax withholding, (b) having the Company withhold taxes from the proceeds of the sale of the Shares, either through a voluntary sale or through a mandatory sale arranged by the Company (on your behalf pursuant to this authorization), or (c) any other arrangement approved by the Company.  The Fair Market Value of the Shares, determined as of the effective date when taxes otherwise would have been withheld in cash, will be applied as a credit against the withholding taxes.  Finally, you will pay to the Company or your Employer any amount of Tax-Related Items that the Company or your Employer may be required to withhold as a result of your participation in the Plan or your acquisition of Shares that cannot be satisfied by the means previously described.  The Company may refuse to deliver the Shares if you fail to comply with your obligations in connection with the Tax-Related Items as described in this section, and your rights to the Shares will be forfeited if you do not comply with such obligations on or before the date that is two and one-half (2-1/2) months following the calendar year in which the applicable vesting date for the RSUs occurs.

	
Restrictions on Resale
	
You agree not to sell any Shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale.  This restriction will apply as long as your Service continues and for such period of time after the termination of your Service as the Company may specify.

	
No Retention Rights
	
Neither this Award nor this Agreement gives you the right to be employed or retained by the Company or any Subsidiary or Affiliate of the Company in any capacity.  The Company and its Subsidiaries and Affiliates reserve the right to terminate your Service at any time, with or without cause.

	
Adjustments
	
The number of RSUs covered by this Award will be subject to adjustment in the event of a stock split, a stock dividend or a similar change in Shares, and in other circumstances, as set forth in the Plan.  The forfeiture  provisions and restrictions described above will apply to all new, substitute or additional restricted stock units or securities to which you are entitled by reason of this Award.

4

 

 

		
	
Successors and Assigns
	
Except as otherwise provided in the Plan or this Agreement, every term of this Agreement will be binding upon and inure to the benefit of the parties hereto and their respective heirs, legatees, legal representatives, successors, transferees and assigns.

	
Notice
	
Any notice required or permitted under this Agreement will be given in writing and will be deemed effectively given upon the earliest of personal delivery, receipt or the third (3rd) full day following mailing with postage and fees prepaid, addressed to the other party hereto at the address last known in the Company’s records or at such other address as such party may designate by ten (10) days’ advance written notice to the other party hereto.

	
Section 409A of the Code
	
To the extent this Agreement is subject to, and not exempt from, Section 409A of the Code, this Agreement is intended to comply with Section 409A, and its provisions will be interpreted in a manner consistent with such intent.  You acknowledge and agree that changes may be made to this Agreement to avoid adverse tax consequences to you under Section 409A.

	
Applicable Law and Choice of Venue
	
This Agreement will be interpreted and enforced under the laws of the State of Delaware as to matters within the scope thereof, and as to all other matters, the internal laws of the State of California, without regard to the laws of any other jurisdiction that might be applied because of the conflicts of laws principles of any state.

 

For purposes of litigating any dispute that arises directly or indirectly from the relationship of the parties evidenced by this Award or this Agreement, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation will be conducted only in the courts of Santa Clara County, California, or the federal courts for the United States for the Northern District of California, and no other courts, where this grant is made and/or to be performed.

 

5

 

 

		
	
Miscellaneous
	
You understand and acknowledge that (1) the Plan is entirely discretionary, (2) the Company and your Employer have reserved the right to amend, suspend or terminate the Plan at any time, (3) the grant of this Award does not in any way create any contractual or other right to receive additional grants of awards (or benefits in lieu of awards) at any time or in any amount and (4) all determinations with respect to any additional grants, including (without limitation) the times when awards will be granted, the number of Shares subject to awards and the vesting schedule, will be at the sole discretion of the Company.

The value of this Award will be an extraordinary item of compensation outside the scope of your employment contract, if any, and will not be considered a part of your normal or expected compensation for purposes of calculating severance, resignation, redundancy or end-of-service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

You understand and acknowledge that participation in the Plan ceases upon termination of your Service for any reason, except as may explicitly be provided otherwise in the Plan or this Agreement.

You hereby authorize and direct your Employer to disclose to the Company or any Subsidiary or Affiliate any information regarding your employment, the nature and amount of your compensation and the fact and conditions of your participation in the Plan, as your Employer deems necessary or appropriate to facilitate the administration of the Plan.

You consent to the collection, use and transfer of personal data as described in this subsection.  You understand and acknowledge that the Company, your Employer and the Company’s other Subsidiaries and Affiliates hold certain personal information regarding you for the purpose of managing and administering the Plan, including (without limitation) your name, home address, telephone number, date of birth, social insurance or other government identification number, salary, nationality, job title, any Shares or directorships held in the Company and details of all awards or any other entitlements to Shares awarded, canceled, exercised, vested, unvested or outstanding in your favor (the “Data”).  You further understand and acknowledge that the Company, its Subsidiaries and/or its Affiliates will transfer Data among themselves as necessary for the purpose of implementation, administration and management of your participation in the Plan and that the Company and/or any Subsidiary may each further transfer Data to any third party assisting the Company in the implementation, administration and management of the Plan.  You understand and acknowledge that the recipients of Data may be located in the United States or elsewhere, , and that the laws of a recipient’s country of operation (e.g., the United States) may not have equivalent  privacy  protections as local laws where you reside or work.  You authorize such recipients to receive, possess, use, retain and transfer Data, in electronic or other form, for the purpose of administering your participation in the Plan, including a transfer to any broker or other third party with whom you elect to deposit Shares acquired under the Plan of such Data as may be required for the administration of the Plan and/or the subsequent holding of Shares on your behalf.  You may, at any time, view the Data, require any necessary modifications of Data, make inquiries about the treatment of Data or withdraw the consents set forth in this subsection by contacting the Human Resources Department of the Company in writing.

BY SIGNING THE COVER SHEET OF THIS AGREEMENT, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.

6Exhibit

Exhibit 10.1
EXECUTION VERSION

FOURTH AMENDMENT AND JOINDER TO MASTER ACCOUNTS RECEIVABLE PURCHASE AGREEMENT
This FOURTH AMENDMENT and JOINDER to the MASTER ACCOUNTS RECEIVABLE PURCHASE AGREEMENT (this “Amendment”), is made and entered into as of October 31, 2019 (as it may be modified, supplemented or amended from time to time in accordance with its terms) by and among the following parties:
		
	(i)
	PERSPECTA ENTERPRISE SOLUTIONS LLC (formerly known as Enterprise Services LLC), a Delaware limited liability company (the “Existing Seller” and “Seller Representative”);

		
	(ii)
	PERSPECTA STATE & LOCAL INC., an Illinois corporation (“PSLI”), KNIGHT POINT SYSTEMS, LLC, a Virginia limited liability company (“KPS”) and PERSPECTA RISK DECISION INC., a Delaware corporation (“PRDI”) (the “New Sellers” and each a “New Seller” or collectively with the Existing Seller, the “Sellers”);

		
	(iii)
	each PURCHASER party hereto; and

		
	(iv)
	MUFG BANK, LTD. (formerly known as The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch), as administrative agent (the “Administrative Agent”).

BACKGROUND 
WHEREAS, the parties hereto have entered into the Master Accounts Receivable Purchase Agreement, dated as of July 14, 2017 (as amended, restated, supplemented, assigned or otherwise modified from time to time, the “Existing Agreement”);
WHEREAS, the parties hereto seek to modify the Existing Agreement upon the terms hereof;
WHEREAS, each New Seller desires to be joined as a Seller under to the Existing Agreement;
NOW, THEREFORE, in exchange for good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged and confirmed), the parties hereto agree as follows:
AGREEMENT  
1.Definitions. Unless otherwise defined or provided herein, capitalized terms used herein have the meanings attributed thereto in (or by reference in) the Existing Agreement.
2.Amendments to the Existing Agreement. The Existing Agreement is hereby amended as follows:

        
        

		
	a.
	The definitions of the following terms appearing in Section 1.1 of the Existing Agreement shall be replaced in their entirety with the language below:

“Applicable Margin” means (i) on or prior to December 31, 2019, 0.58% per annum and (ii) thereafter 0.73% per annum.  
“Approved Obligor Termination Event” means, with respect to a particular Approved Obligor, (i) if such Approved Obligor is an Approved State and Local Obligor,  a Shutdown of the applicable State and Local Obligor that lasts at least one (1) Business Day, (ii) if such Approved Obligor is not an Approved State and Local Obligor,  a Shutdown of the U.S. Government affecting such Approved Obligor that lasts at least one (1) Business Day, or (iii) the occurrence of a Non-Payment Event.
“Dilution” means, with respect to any Receivable, (a) any discount, adjustment, deduction, or reduction (including, without limitation, as a result of any rate variance under the related Contract or as a result of any set-off whatsoever effected by the Approved Obligor, whether in relation to a payment obligation, tax or other amount payable by a Seller to such Approved Obligor (or any other branch or agency of the U.S. Government or any other Governmental Authority)), in each case, that would have the effect of reducing the amount of part or all of such Receivable and (b) the Conversion Date Adjustment Amount (if any) with respect to such Receivable.
“Eligible Receivable” means a Receivable (a) backed by the full faith and credit of the U.S. Government (or, with respect to a Receivable payable by an Approved State and Local Obligor and generated by PSLI, the applicable Approved State and Local Obligor), (b) arising from the sale of Goods and Services pursuant to a Contract with an Approved Obligor, including Receivables that have been billed pursuant to an Invoice and Eligible Unbilled Receivables and (c) arising under a Contract after the applicable Seller has determined that such Contract and any Receivable generated thereunder are eligible as (i) such Contract and Receivable are compliant with the Seller’s internal control procedures, and (ii) the implementation and set-up for such Contract and such Receivable generated thereunder has been completed (such implementation and set-up to be completed as soon as reasonably possible), as evidenced by the inclusion of Receivables generated under such Contract in a Servicer Report (it being understood that (1) any such determination will be permanent and cannot be changed once made and (2) will only apply to Receivables originated on or after the date that such determination is made and not to any Receivable existing prior to such date); provided that, with respect to each Eligible Receivable that is a Billed Receivable, such Receivable shall not be past due; provided further that Eligible Receivables shall not include any Receivable, the Obligor of which has agreed to pay such Receivable via credit card; provided further that, subject to Section 8.2(d), any Non-Affected Receivable originated or sold during a Shutdown of the U.S. Government or a Shutdown of the applicable State and Local Obligor will be an Eligible Receivable; provided further that a Receivable owing from an Approved State and Local Obligor  shall not be an Eligible Receivable if, on any day, the Purchase Price applicable to such Receivable when added to the Funded Amount of all Purchased Receivables owing from Approved State and Local Obligors at such time would exceed $35,000,000 (it being understood that this proviso shall only apply to Receivables not yet 

2    Fourth Amendment and Joinder to MARPA
        
        

purchased by the Purchasers and shall not be applied to reverse the purchase of any already purchased Receivable); provided further, that no Receivable which arises under a Contract that includes a confidentiality provision prohibiting the disclosure of information relating to such Contract shall be an Eligible Receivable hereunder.
“Existing Account” means, with respect to: 
(i)     the Initial Seller and PSLI, the deposit account of the Initial Seller or the Seller Representative located at Bank of America, N.A. with account number 3752026177; 
(ii)    PRDI, the account of PRDI located at JPMorgan Chase Bank, N.A. (ABA No. 021000021) with account number 134753143 and the account of PRDI located at Bank of America, N.A. (ABA No. 026009593) with account number 4451370958; 
(iii)     KPS, the account of KPS located at TD Bank, N.A. (ABA No. 031101266) with account number 4258279392 and the account of KPS located at Bank of America, N.A. (ABA No. 026009593) with account number 4451370961; 
(iv)     each Additional Seller, each deposit account of such Additional Seller specified as such in the applicable Joinder Agreement; and
(v)    any other deposit account located at a depository bank satisfactory to the Administrative Agent.
“Facility Suspension Event” means  (i) the occurrence of a Servicer Replacement Event or (ii) any disclaimer of its obligations by the guarantor under any Parent Guaranty or failure of any Parent Guaranty to be in full force and effect. 
“Remittance Account” means, with respect to:
(i)PRDI, the account of PRDI located at JPMorgan Chase Bank, N.A. (ABA No. 021000021) with account number 134753143 or such other account as notified to the Administrative Agent from time to time by PRDI in writing;

(ii)KPS, the account of KPS located at TD Bank, N.A. (ABA No. 031101266) with account number 4258279392 or such other account as notified to the Administrative Agent from time to time by KPS in writing; and

(iii)any other Seller, the account of the Seller Representative located at Bank of America, N.A. (ABA No. 026009593) with account number 1233464145, or such other account as notified to the Administrative Agent from time to time by the Seller Representative in writing.
“Scheduled Termination Date” means October 30, 2020 as such date may be extended from time to time pursuant to Section 2.6(c).

3    Fourth Amendment and Joinder to MARPA
        
        

“Shutdown of the U.S. Government” means the creation of a “funding gap” caused by the failure of the United States Congress to pass legislation funding U.S. Government operations in whole or in part affecting any or all Approved Obligor(s), or the failure of any such legislation passed by the United States Congress to become law (thereby preventing any such Approved Obligor(s) from making payments to the applicable Seller or the Administrative Agent (for the ratable benefit of the Purchasers)).
		
	b.
	Section 1.1 of the Existing Agreement shall be amended by the addition of the following new defined terms, each to appear in proper alphabetical order:

     “Approved State and Local Obligor” means each Obligor listed on Schedule A as an “Approved State and Local Obligor”, as the same may be updated from time to time in accordance with Sections 14.21 and 14.22.
“KPS” means Knight Point Systems, LLC, a Virginia limited liability company.
“Non-Affected Receivable” means any Receivable originated or sold during a Shutdown of the U.S. Government or a Shutdown of the applicable State and Local Obligor where the Approved Obligor owing on such receivable is not affected by such Shutdown and is not prevented from making payments to the applicable Seller or the Administrative Agent (for the ratable benefit of the Purchasers) on such Receivable.  
“PRDI” means Perspecta Risk Decision Inc., a Delaware corporation.  
“PSLI” means Perspecta State & Local Inc., an Illinois corporation.
“Shutdown of the applicable State and Local Obligor” means, with respect to any Approved State and Local Obligor, the creation of a “funding gap” caused by the failure of the relevant legislative or other governing body or board of such Approved State and Local Obligor (or the Governmental Authority of which such Approved State and Local Obligor is a part) to appropriate funds to such Approved State and Local Obligor (thereby preventing such Approved Obligor from making payments to the relevant Seller or the Administrative Agent (for the ratable benefit of the Purchasers) or the failure of the relevant legislation or other approvals to become law (thereby preventing such Approved State and Local Obligor from making payments to the applicable Seller or the Administrative Agent (for the ratable benefit of the Purchasers)).
		
	c.
	The following new Section 1.3 shall be added to the Existing Agreement:

Section 1.3.    LIBOR.  If at any time (i) the Administrative Agent determines (which determination shall be conclusive absent manifest error) or the Required Purchasers notify the Administrative Agent that adequate and reasonable means do not exist for ascertaining LIBOR (including, without limitation, because ICE LIBOR is not available or published on a current basis) and such circumstances are unlikely to be temporary, (ii) the supervisor for the administrator of LIBOR or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying a specific date after which LIBOR shall no longer be used for determining interest rates for loans or discount rates for the purchase of accounts receivable, or (iii) 

4    Fourth Amendment and Joinder to MARPA
        
        

any applicable interest rate specified herein is no longer a widely recognized benchmark discount rate for newly purchased accounts receivable in the United States market in the applicable currency, then the Administrative Agent and the Seller Representative shall endeavor to establish an alternate rate of interest to be used in the calculation of the Discount Rate (the “Replacement Rate”) to LIBOR that gives due consideration to the then prevailing market convention for determining a discount rate for the purchase of accounts receivable in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate discount rate and such other related changes to this Agreement as may be applicable. Notwithstanding anything to the contrary in Section 14.8, such amendment shall become effective without any further action or consent of any other party to this Agreement so long as the Administrative Agent shall not have received, within five (5) Business Days of the date notice of the Replacement Rate is provided to the Purchasers, a written notice from the Required Purchasers stating that such Required Purchasers object to such amendment.  To the extent the Replacement Rate is approved by the Administrative Agent in connection with this clause, the Replacement Rate shall be applied in a manner consistent with market practice; provided, that, in each case, to the extent such market practice is not administratively feasible for the Administrative Agent, the Replacement Rate shall be applied as otherwise reasonably determined by the Administrative Agent (it being understood that any such modification by the Administrative Agent shall not require the consent of, or consultation with, any of the Purchasers).  
		
	d.
	The following new proviso shall be added to the last sentence of Section 3.6 of the Existing Agreement:

“; provided, however, if a Shutdown of the U.S. Government (but not a Shutdown of the applicable State and Local Obligor) shall have occurred and be continuing on any day, no Unused Fee shall accrue with respect to such day”
		
	e.
	The title of Section 8.2 of the Existing Agreement shall be replaced in its entirety with the following:

“Conditions Precedent to Each Purchase.”
		
	f.
	Section 8.2 of the Existing Agreement shall be amended by adding the following new clause (d):

(d)    No Shutdown of the U.S. Government and no Shutdown of the applicable State and Local Obligor has occurred and is continuing; provided that if consented to by the Administrative Agent and the Purchasers in writing in their sole discretion in advance of any purchase, the foregoing limitation will not apply to any Non-Affected Receivables.  
		
	g.
	The notice addresses appearing in Section 14.4 of the Existing Agreement shall be replaced in their entirety with the addresses below:

If to the 
Administrative Agent:        MUFG Bank, Ltd. 

5    Fourth Amendment and Joinder to MARPA
        
        

                1251 Avenue of the Americas 
                New York, New York 10020-1104
Attn: Mark Wuscher 
                Email: mwuscher@us.mufg.jp
With a copy to:
MUFG Bank, Ltd.  
1251 Avenue of the Americas 
New York, New York 10020-1104
Attn:  Amy Mellon 
Email: amellon@us.mufg.jp
		
	If to the Sellers:
	Perspecta Enterprise Solutions LLC 
c/o Perspecta, Inc. 
15052 Conference Center Dr. 
Chantilly, VA 20151 
Attn: Henry Miller 
Email:  henry.m.miller@perspecta.com

With a copy to:
Reed Smith LLP 
10 South Wacker Drive 
Chicago, IL 60606-7505 
Attn:  J. Michael Brown 
Email: jmbrown@reedsmith.com

		
	g.
	The Existing Agreement shall be amended by the addition of the following new Section 14.24:

Section 14.24.    Optional Repurchase of Purchased Receivables.  Notwithstanding any other provisions in this Agreement, any Seller shall have the right after receiving notice from the Administrative Agent pursuant to Section 5.4, upon not less than ten (10) Business Days’ notice to the Administrative Agent, to repurchase any outstanding Overdue Receivable arising from the failure of an Approved Obligor to pay the Overdue Receivable within sixty (60) days of its Maturity Date at a repurchase price equal to the fair market value of such Overdue Receivable, which fair market value shall be calculated in the reasonable discretion of the Administrative Agent (it being understood, for the avoidance of doubt, that, under certain circumstances, the fair market value of any Overdue Receivable may be higher than its original Net Face Value).
		
	h.
	Schedule A of the Existing Agreement shall be replaced in its entity with Schedule A attached to this Amendment. 

6    Fourth Amendment and Joinder to MARPA
        
        

		
	i.
	Schedule B of the Existing Agreement shall be replaced in its entity with Schedule B attached to this Amendment.

3.Acknowledgements of the New Sellers. Each New Seller acknowledges and agrees that it is a “Seller” under the Existing Agreement, effective upon the effective date of this Amendment.  All references in the Existing Agreement to the term “Seller” or “Sellers” shall be deemed to include such New Seller.  Without limiting the generality of the foregoing, each New Seller hereby repeats and reaffirms all covenants, agreements, representations and warranties made or given by a Seller contained in the Existing Agreement (including, for the avoidance of doubt, the grant of security provided in Section 4.1 of the Existing Agreement), and appoints the Seller Representative as its agent, attorney-in-fact and representative in accordance with Section 2.5 of the Existing Agreement. Furthermore, each New Seller agrees to execute and deliver such further instruments and documents and do such further acts and things as the Administrative Agent may deem reasonably necessary or proper to carry out more effectively the purposes of this Amendment.
4.Existing Accounts of New Sellers. For purposes of the Existing Agreement, the “Existing Account” with respect to each such New Seller is described in the table below, which account is located at a depository bank satisfactory to the Administrative Agent:
	
				
	New Seller
	Account Owner
	Account Bank
	Account Number

	PRDI
	PRDI
	JPMorgan Chase, N.A.
	134753143

	PRDI
	PRDI
	Bank of America, N.A.
	4451370958

	KPS
	KPS
	Bank of America, N.A.
	4451370961

	KPS
	KPS
	TD Bank, N.A.
	4258279392

	PSLI
	Existing Seller
	Bank of America, N.A.
	3752026177

Notwithstanding the requirements of Section 9.2(e) of the Existing Agreement, the Administrative Agent and the Purchasers hereby agree that the foregoing Existing Accounts of the New Sellers will not be required to be subject to an Account Control Agreement for the first thirty (30) days following the effective date of this Amendment; provided that a failure of the New Sellers to be in compliance with such requirements in Section 9.2(e) by such thirtieth (30th) day will constitute a Facility Suspension Event.  
5.Initial Sale of Receivables by New Sellers. On the first Reconciliation Date following the effective date of this Amendment, the Seller Representative will submit a Servicing Report to the Administrative Agent via the PrimeRevenue System, and simultaneously with the submission of such Servicing Report, each of PSLI, KPS and PRDI will be deemed to offer to the Administrative Agent (on behalf of the Purchasers), and subject to the satisfaction of 

7    Fourth Amendment and Joinder to MARPA
        
        

the conditions set forth in Section 8.1 and Section 8.2, the Administrative Agent (on behalf of the Purchasers) will be deemed to purchase from each such Seller, without any further action on the part of such Seller, all of such Seller’s right, title and interest in and to all outstanding Eligible Receivables of such Seller specified on such Servicing Report (including any such Eligible Receivables that are owing from any Approved State and Local Obligors).  After such first Reconciliation Date, each New Seller will be deemed to offer to the Administrative Agent (on behalf of the Purchasers), and subject to the satisfaction of the conditions set forth in Section 8.2 of the Existing Agreement, the Administrative Agent will be deemed to purchase from each such New Seller, without any further action on the party of such New Seller, all of such New Seller’s right, title and interest in and to all outstanding Eligible Receivables of such New Seller that have not previously been acquired in whole by the Administrative Agent (on behalf of the Purchasers) pursuant to the provisions of Section 2.1(a) of the Existing Agreement. 

6.Conditions to Effectiveness. This effectiveness of this Amendment is subject     to the satisfaction of the following conditions, each to the satisfaction of the Administrative Agent and each Purchaser in its sole discretion and, as to any agreement, document or instrument specified below, each in form and substance satisfactory to the Administrative Agent’s and each Purchaser in its sole discretion:
a.    The Administrative Agent and the Purchasers shall have received each of the following:
(i)    An executed counterpart of this Amendment.
(ii)    An executed counterpart of the Confirmation and Acknowledgment attached to this Amendment as Annex I.
(iii)    Copies of resolutions of Perspecta, Inc. (“Perspecta”) and each Seller authorizing this Amendment and the other Purchase Documents to which they are a party and authorizing a person or persons to sign those documents including any subsequent notices and acknowledgements to be executed or delivered pursuant to this Amendment, the other Purchase Documents and any other documents to be executed or delivered by Perspecta or such Seller pursuant hereto or thereto.
(iv)    An officer incumbency and specimen signature certificate for Perspecta and each Seller.
(v)    Organizational documents of Perspecta and each Seller certified by the applicable governmental authority (as applicable), and evidence of good standing (as applicable).
(vi)    Opinions of counsel to Perspecta and each Seller, including opinions with respect to due organization and good standing of each such Person, due authorization, execution and delivery of this Amendment and the other Purchase Documents entered into by such Person, validity and enforceability of this Amendment and the other Purchase Documents with respect to such Person, 

8    Fourth Amendment and Joinder to MARPA
        
        

non-contravention of organizational documents, material agreements and law, no consents, creation of security interest and perfection of security interest (including perfection by control with respect to each new Account Control Agreement delivered in connection with this Amendment), true sale and such other matters as the Administrative Agent and the Purchasers may reasonably request.
(vii)    Lien searches with respect to each New Seller and lien releases for each such New Seller, if applicable. 
(vii)    Evidence of UCC-1 filings with respect to the New Sellers and UCC-3 amendment filings with respect to the Existing Seller.  
b.    Each New Seller shall have satisfied each Purchaser’s know your customer requirements with respect to the New Sellers.
c.    The Sellers shall have paid all fees owed on or prior to such effective date to the Administrative Agent (if, applicable, for the benefit of the Purchasers) pursuant to the terms of this Amendment or any fee letter executed in connection herewith; provided, however, for administrative convenience it is agreed and the Sellers hereby instruct the Administrative Agent and the Purchasers to withhold such fees from the first purchase of Receivables occurring on or after the effective date of this Amendment.  
d.    The Sellers shall have paid any legal fees due and owing to Mayer Brown LLP to the extent incurred on or before August 31, 2019; provided, however, for administrative convenience it is agreed and the Sellers hereby instruct the Administrative Agent and the Purchasers to withhold such fees from the first purchase of Receivables occurring on or after the effective date of this Amendment.
7.Certain Representations, Warranties and Covenants. Sellers hereby represent and warrant to the Purchaser, as of the date hereof that:
(a)the representations and warranties made by it in the Existing Agreement and in any other Purchase Document to which it is a party are true and correct both as of the date hereof and immediately after giving effect to this Amendment;
(b)no Facility Suspension Event exists as of the date hereof and immediately after giving effect to this Amendment; and
(c)the execution and delivery by it of this Amendment, and the performance of its obligations under this Amendment, the Existing Agreement (as amended hereby) and the other Purchase Documents to which it is a party are within its organizational powers and have been duly authorized by all necessary organizational action on its part, and this Amendment, the Existing Agreement (as amended hereby) and the other Purchase Documents to which it is a party are its valid and legally binding obligations, enforceable in accordance with its terms, subject to the effect of bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally.

9    Fourth Amendment and Joinder to MARPA
        
        

8.Reference to, and Effect on the Existing Agreement and the Purchase Documents.
(a)The Existing Agreement (except as specifically amended herein) and the other Purchase Documents shall remain in full force and effect and the Existing Agreement and such other Purchase Documents are hereby ratified and confirmed in all respects by each of the parties hereto.
(b)The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of Purchaser, nor constitute a waiver of any provision of, the Existing Agreement or any other Purchase Document.
(c)After this Amendment becomes effective, all references in the Existing Agreement or in any other Purchase Document to “the Master Accounts Receivable Purchase Agreement,” “this Agreement,” “hereof,” “herein” or words of similar effect, in each case referring to the Existing Agreement, shall be deemed to be references to the Existing Agreement as amended by this Amendment.
(d)To the extent that the consent of any party hereto, in any capacity, is required under the Purchase Documents or any other agreement entered into in connection with the Purchase Documents with respect to any of the amendments or other matters set forth herein, such Person hereby grants such consent.
9.Waiver. The Administrative Agent and each Purchaser hereby waive the requirement pursuant to Section 2.6(c) of the Existing Agreement wherein the Sellers must provide at least sixty (60) days prior written notice to the Administrative Agent (on behalf of the Purchasers) of their desire to extend the Scheduled Termination Date.
10.Further Assurances. The Sellers agree to do all such things and execute all such documents and instruments as the Purchaser may reasonably consider necessary or desirable to give full effect to the transaction contemplated by this Amendment and the documents, instruments and agreements executed in connection herewith.
11.Costs and Expenses. The Sellers agree, jointly and severally, to pay on demand (except as otherwise set forth in Section 4 of this Amendment) all reasonable costs (including reasonable attorneys’ fees and expenses) and expenses the Administrative Agent incurs in connection with the preparation, negotiation, documentation and delivery of this Amendment.
12.Purchase Document. This Amendment is a Purchase Document.
13.Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the Sellers and the Administrative Agent and each Purchaser, and their respective successors and assigns.
14.Execution in Counterparts. This Amendment may be executed in any number of counterparts, and by the different parties hereto on separate counterparts; each such counterpart shall be deemed an original and all of such counterparts taken together shall be deemed to 

10    Fourth Amendment and Joinder to MARPA
        
        

constitute one and the same instrument. A facsimile or electronic copy of an executed counterpart of this Amendment shall be effective as an original for all purposes.
15.GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
16.Section Headings. Section headings in this Amendment are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.
17.Severability. Any provisions of this Amendment which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

11    Fourth Amendment and Joinder to MARPA
        
        

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

MUFG BANK, LTD. (formerly known as The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch), as Administrative Agent 
 
 
By:    /s/  Richard Gregory Hurst                 
Print Name:  Richard Gregory Hurst
Title:  Managing Director

12    Fourth Amendment and Joinder to MARPA
        
        

Accepted, agreed and consented to as of 
the date first above written:
PERSPECTA ENTERPRISE SOLUTIONS LLC (formerly known as Enterprise Services LLC), as Existing Seller and Seller Representative
By:    /s/  Henry M. Miller, Jr.                        
Print Name:  Henry M. Miller, Jr.
Title:  Vice President and Assistant Treasurer

NEW SELLERS:

PERSPECTA STATE & LOCAL INC., as a New Seller 
By:    /s/  Henry M. Miller, Jr.                        
Print Name:  Henry M. Miller, Jr.
Title:  Vice President and Assistant Treasurer

KNIGHT POINT SYSTEMS, LLC, as a New Seller
By:    /s/  Henry M. Miller, Jr.                        
Print Name:  Henry M. Miller, Jr.
Title:  Assistant Treasurer

PERSPECTA RISK DECISION INC., as a New Seller
By:    /s/  Henry M. Miller, Jr.                        
Print Name:  Henry M. Miller, Jr.
Title:  Assistant Treasurer

13    Fourth Amendment and Joinder to MARPA
        
        

Accepted, agreed and consented to as of the date first above written:
MUFG BANK, LTD. (formerly known as The Bank of 
Tokyo-Mitsubishi UFJ, Ltd., New York Branch), as Purchaser
By:    /s/  Richard Gregory Hurst                    
Print Name:  Richard Gregory Hurst
Title:  Managing Director
THE BANK OF NOVA SCOTIA,  
as Purchaser
By:    /s/  Natalie Koven                                
Print Name:  Natalie Koven
Title:  Associate Director    
MIZUHO BANK, LTD.,  
as Purchaser
By:    /s/  Tracy Rahn                                     
Print Name:  Tracy Rahn
Title:  Authorized Signatory     

14    Fourth Amendment and Joinder to MARPA
        
        

CONFIRMATION AND ACKNOWLEDGEMENT
This CONFIRMATION AND ACKNOWLEDGEMENT, dated as of October 31, 2019 (this “Confirmation”), is executed and delivered by PERSPECTA INC. (formerly known as Ultra SC Inc.), a Nevada corporation (the “Guarantor”). 
		
	1.
	Reference is hereby made to the Guaranty, dated as of May 31, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the “Guaranty”), delivered by the Guarantor in connection with the Agreement (defined below).

		
	2.
	Reference is further made to the Master Accounts Receivable Purchase Agreement, dated as of July 14, 2017, as amended by the First Amendment to the Master Accounts Receivable Purchase Agreement, dated as of January 23, 2018, as further amended by the Second Amendment to the Master Accounts Receivable Purchase Agreement, dated May 31, 2018 and as further amended by the Third Amendment to the Master Accounts Receivable Purchase Agreement, dated October 31, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the “Agreement”), among PERSPECTA ENTERPRISE SOLUTIONS LLC (F/K/A ENTERPRISE SERVICES LLC) (the “Existing Seller”), a Delaware limited liability company, each PURCHASER party thereto, and  MUFG BANK, LTD. (F/K/A THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH), as Administrative Agent (the “Administrative Agent”).

		
	3.
	Reference is further made to the Fourth Amendment and Joinder to Master Accounts Receivables Purchase Agreement, dated as of the date hereof (the “Amendment”), among the Existing Seller, PERSPECTA STATE & LOCAL INC., an Illinois corporation (“PSLI”), KNIGHT POINT SYSTEMS, LLC, a Virginia limited liability company (“KPSL”), PERSPECTA RISK DECISION INC., a Delaware corporation (“PRDI”; collectively, PSLI, KPSL and PRDI shall be referred to as the “New Sellers”), each PURCHASER party thereto, and the Administrative Agent.

		
	4.
	The Guarantor hereby consents to the Amendment. The Guarantor hereby confirms and acknowledges that the Guaranty, and its obligations thereunder, shall continue in full force and effect after giving effect to the Amendment and the addition of the New Sellers as Additional Sellers under the Agreement pursuant to the Amendment.

IN WITNESS WHEREOF, the Guarantor has caused this Confirmation to be duly executed and delivered on the date first set forth above.

[Signature page follows]

15    Fourth Amendment and Joinder to MARPA
        
        

PERSPECTA INC.,  
as Guarantor

By:    /s/  John Kavanaugh                         
Print Name:  John Kavanaugh
Title:  Senior Vice President and Chief
Financial Officer

By:    /s/  Henry M. Miller, Jr.                    
Print Name:  Henry M. Miller, Jr.
Title:  Vice President and Treasurer

16    Fourth Amendment and Joinder to MARPA
        
        

SCHEDULE A

SCHEDULE A TO 
MASTER ACCOUNTS RECEIVABLE PURCHASE AGREEMENT

Approved Obligors
	
		
	

Approved Obligor State and Local Obligors
	Approved Obligor Buffer Period (days)

	County of San Diego California
	0

	
		
	

Other Approved Obligors
	Approved Obligor Buffer Period (days)

	Department of Defense
	0

	Department of Treasury
	0

	Department of Agriculture
	0

	Department of Education
	0

	Department of Energy
	0

	Department of Health and Human Services
	0

	Department of Homeland Security
	0

	Department of Housing & Urban Development
	0

	Department of Justice
	0

	Department of Transportation
	0

	Department of Veterans Affairs
	0

	Environmental Protection Agency
	0

	FEDERAL RESERVE BANK
	0

	FOOD AND DRUG ADMINISTRATION
	0

	NASA
	0

	NATIONAL GEOSPATIAL-INTELLIGENCE AGENCY
	0

	National Science Foundation Agency
	0

	US GENERAL SERVICES ADMINISTRATION
	0

	SOCIAL SECURITY ADMINISTRATION
	0

	UNITED STATES POSTAL SERVICE
	0

	UNITED STATES SENATE
	0

	 
	 

17    Fourth Amendment and Joinder to MARPA
        
        

SCHEDULE B

SCHEDULE B TO 
MASTER ACCOUNTS RECEIVABLE PURCHASE AGREEMENT

	
		
	(a) Name:
	Perspecta Enterprise Solutions LLC

	(b) Chief Executive Office:
	13600 EDS Drive, Herndon, VA 20171

	(c) Jurisdiction of Organization:
	Delaware

	(d) Organizational Number:
	2387022

	(e) FEIN:
	75-2548221

	(f) Tradenames:
	None

	(g) Changes in Location, Name and Corporate Organization in the last 5 years:
	The entity was named HP Enterprise Services, LLC until January 1, 2017 and Enterprise Services LLC until October 29, 2018

	(a) Name:
	Perspecta Risk Decision Inc.

	(b) Chief Executive Office:
	1750 Foxtrail Drive, Loveland, CO 80538

	(c) Jurisdiction of Organization:
	Delaware

	(d) Organizational Number:
	3310280

	(e) FEIN:
	52-2293505

	(f) Tradenames:
	None

	(g) Changes in Location, Name and Corporate Organization in the last 5 years:
	The entity was named Keypoint Government Solutions, Inc. until October 29, 2018

	(a) Name:
	Knight Point Systems, LLC

	(b) Chief Executive Office:
	1775 Wiehle Ave suite #101, Reston, VA 20190

	(c) Jurisdiction of Organization:
	Virginia

	(d) Organizational Number:
	S172869-2

	(e) FEIN:
	74-3171882

	(f) Tradenames:
	None

	(g) Changes in Location, Name and Corporate Organization in the last 5 years:
	None

	(a) Name:
	Perspecta State & Local Inc.

	(b) Chief Executive Office:
	13600 EDS Drive, Herndon VA 20171

	(c) Jurisdiction of Organization:
	Illinois

	(d) Organizational Number:
	5947-936-9

	(e) FEIN:
	36-4172737

	(f) Tradenames:
	None

	(g) Changes in Location, Name and Corporate Organization in the last 5 years:
	The entity was named Enterprise State and Local, Inc. until October 30, 2018.

18    Fourth Amendment and Joinder to MARPA

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