Document:

exhibit10-33.htm

Exhibit 10.33

    EXECUTION COPY 

     

    AMENDMENT NO. 8

     

    Dated as of October
26, 2009 

     

    to 

     

    CREDIT AGREEMENT

     

    Dated as of June 6,
2007 

     

         THIS AMENDMENT NO. 8 (“Amendment”) is made as of October 26, 2009 by and among
Photronics, Inc. (the “Company”), the financial institutions listed on the
signature pages hereof and JPMorgan Chase Bank, National Association, as
Administrative Agent (in such capacity, the “Administrative Agent”) and as Collateral Agent (in such capacity,
the “Collateral Agent”), under
that certain Credit Agreement dated as of June 6, 2007 by and among the Company,
the Lenders and the Administrative Agent (as amended by that certain Amendment
No. 1 thereto, dated as of April 25, 2008, that certain Amendment No. 2 thereto,
dated as of October 31, 2008, that certain Amendment No. 3 thereto, dated as of
December 3, 2008, that certain Amendment No. 4 thereto, dated as of December 12,
2008, that certain Amendment No. 5 thereto, dated as of May 15, 2009, that
certain Amendment No. 6 thereto, dated as of June 8, 2009, and that certain
Amendment No. 7 thereto, dated as of September 2, 2009, and as may be further
amended, supplemented or otherwise modified from time to time, the “Credit Agreement”). Capitalized terms used herein and not
otherwise defined herein shall have the respective meanings given to them in the
Credit Agreement. 

     

         WHEREAS, the Company has requested that the
Lenders, the Administrative Agent and the Collateral Agent agree to certain
amendments to the Credit Agreement; 

     

         WHEREAS, the Lenders party hereto, the
Administrative Agent and the Collateral Agent have agreed to such amendments on
the terms and conditions set forth herein; 

     

         NOW, THEREFORE, in consideration of the
premises set forth above, the terms and conditions contained herein, and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company, the Lenders party hereto, the Administrative Agent
and the Collateral Agent have agreed to enter into this Amendment. 

     

         1. Amendments to Credit
Agreement. Effective as of
the date of satisfaction of the conditions precedent set forth in Section 2 below, Section 2.11(c) of the Credit
Agreement is amended to add the parenthetical “(provided, however, that in the
case of any Net Proceeds received in connection with the Chinese Facility Sale,
within three (3) Business Days after approval by the State Administration of
Foreign Exchange of the People’s Republic of China that the Company may
repatriate such Net Proceeds to the United States of America)” immediately after
the phrase “within three (3) Business Days after such net Proceeds are received
by the Company or any Subsidiary” appearing therein. 

     

         2. Conditions of Effectiveness. The effectiveness of this Amendment is
subject to the conditions precedent that the Administrative Agent shall have
received counterparts of this Amendment duly executed by the Company, the
Required Lenders and the Administrative Agent and the Consent and Reaffirmation
attached hereto duly executed by the Subsidiary Guarantors. 

     

    

    
    

         3.
Representations and Warranties of the Company
and Acknowledgements and Confirmations. The Company hereby represents and warrants
as follows: 

     

         (a)
This Amendment and the Credit
Agreement, as amended hereby, constitute legal, valid and binding obligations of
the Company and are enforceable against the Company in accordance with their
terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium
or other laws affecting creditors’ rights generally and subject to general
principles of equity, regardless of whether considered in a proceeding in equity
or at law. 

     

         (b)
As of the date hereof and giving
effect to the terms of this Amendment, (i) no Default shall have occurred and be
continuing and (ii) the representations and warranties of the Company set forth
in the Credit Agreement, as amended hereby, are true and correct as of the date
hereof. 

     

         (c)
The Company (and by its execution
of the Consent and Reaffirmation attached hereto, each Subsidiary Guarantor)
hereby acknowledges and confirms that (i) it does not have any grounds, and
hereby agrees not to challenge (or to allege or to pursue any matter, cause or
claim arising under or with respect to) the effectiveness, genuineness,
validity, collectibility or enforceability of the Credit Agreement or any of the
other Loan Documents, the Secured Obligations, the Liens securing such Secured
Obligations, or any of the terms or conditions of any Loan Document and (ii) it
does not possess (and hereby forever waives, remises, releases, discharges and
holds harmless the Lenders, the Agents and their respective affiliates,
stockholders, directors, officers, employees, attorneys, agents and
representatives and each of their respective heirs, executors, administrators,
successors and assigns (collectively, the “Indemnified Parties”) from and against, and agrees not to allege
or pursue) any action, cause of action, suit, debt, claim, counterclaim,
cross-claim, demand, defense, offset, opposition, demand and other right of
action whatsoever, whether in law, equity or otherwise (which it, all those
claiming by, through or under it, or its successors or assigns, have or may
have) against the Indemnified Parties, or any of them, by reason of, any matter,
cause or thing whatsoever, with respect to events or omissions occurring or
arising on or prior to the date hereof and relating to the Credit Agreement or
any of the other Loan Documents (including, without limitation, with respect to
the payment, performance, validity or enforceability of the Secured Obligations,
the Liens securing the Secured Obligations or any or all of the terms or
conditions of any Loan Document) or any transaction relating thereto.

     

         4. Reference to and Effect on the Credit
Agreement. 

     

         (a)
Upon the effectiveness hereof,
each reference to the Credit Agreement in the Credit Agreement or any other Loan
Document shall mean and be a reference to the Credit Agreement as amended
hereby. 

     

         (b)
Except as specifically amended
above, the Credit Agreement and all other documents, instruments and agreements
executed and/or delivered in connection therewith shall remain in full force and
effect and are hereby ratified and confirmed. 

     

         (c)
The execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right,
power or remedy of the Administrative Agent or the Lenders, nor constitute a
waiver of any provision of the Credit Agreement or any other documents,
instruments and agreements executed and/or delivered in connection therewith.

     

         5.
Governing Law. This Amendment shall be construed in
accordance with and governed by the law of the State of New York. 

     

    2 

     

    

    
    

         6.
Headings. Section headings in this Amendment are
included herein for convenience of reference only and shall not constitute a
part of this Amendment for any other purpose. 

     

         7.
Counterparts. This Amendment may be executed by one or
more of the parties hereto on any number of separate counterparts, and all of
said counterparts taken together shall be deemed to constitute one and the same
instrument. Signatures delivered by facsimile or PDF shall have the same force
and effect as manual signatures delivered in person. 

     

    [Signature Pages
Follow] 

     

    3 

     

    

    
    

         IN WITNESS WHEREOF, this Amendment has been
duly executed as of the day and year first above written. 

     

    
      	
            	PHOTRONICS, INC.,
	
            	as the Company
	
            	
            	  
	
            	 	  
	
            	By:
      	 	 
	
            	Name:

	
            	Title:

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Signature Page to
Amendment No. 8 
Photronics, Inc. 
Credit Agreement dated as of June 6, 2007 

     

    

    
    

    
      	
            	
              JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, individually as a
      Lender, as the Swingline Lender, as the Issuing Bank and as Administrative
      Agent 

            
	
            	
            	 	
            
	
            	
            	 	
            
	
            	By:
      	 	 
	
            	Name:
	
            	Title:
	 	 	 

    

    
      	
            	
              JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, 
as Collateral Agent
      

            
	
            	
            	 	
            
	
            	
            	 	
            
	
            	By:
      	 	 
	
            	Name:
	
            	Title:

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Signature Page to
Amendment No. 8 
Photronics, Inc. 
Credit Agreement dated as of June 6, 2007 

     

    

    
    

    
      	
            	RBS CITIZENS, NATIONAL ASSOCIATION
      (successor by 
merger to Citizens Bank of Massachusetts), individually
      as a 
Lender and as Co-Syndication Agent 
	
            	
            	  	
            
	
            	
            	 	
            
	
            	By:
      	 	 
	
            	Name:
	
            	Title:

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Signature Page to
Amendment No. 8 
Photronics, Inc. 
Credit Agreement dated as of June 6, 2007 

     

    

    
    

    
      	
            	
              HSBC
      BANK USA, NATIONAL ASSOCIATION, individually 
as a Lender and as
      Co-Syndication Agent 

            
	
            	
            	 	
            
	
            	
            	 	
            
	
            	By:
      	 	 
	
            	Name:
	
            	Title:

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Signature Page to
Amendment No. 8 
Photronics, Inc. 
Credit Agreement dated as of June 6, 2007 

     

    

    
    

    
      	
            	
              CITIBANK, N.A., individually as a Lender and as 
Co-Syndication
      Agent 

            
	
            	
            	 	
            
	
            	
            	 	
            
	
            	By:
      	 	 
	
            	Name:
	
            	Title:

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Signature Page to
Amendment No. 8 
Photronics, Inc. 
Credit Agreement dated as of June 6, 2007 

     

    

    
    

    
      	
            	
              BANK OF
      AMERICA, N.A., 
as a Lender 

            
	
            	
            	 	
            
	
            	
            	 	
            
	
            	By:
      	 	 
	
            	Name:
	
            	Title:

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Signature Page to
Amendment No. 8 
Photronics, Inc. 
Credit Agreement dated as of June 6, 2007 

     

    

    
    

    
      	
            	
              UBS LOAN
      FINANCE LLC, 
as a Lender 

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

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Signature Page to
Amendment No. 8 
Photronics, Inc. 
Credit Agreement dated as of June 6, 2007 

     

    

    
    

    CONSENT AND
REAFFIRMATION 

     

         Each of the undersigned hereby acknowledges
receipt of a copy of the foregoing Amendment No. 8 to the Credit Agreement dated
as of June 6, 2007 (as amended by that certain Amendment No. 1 thereto, dated as
of April 25, 2008, that certain Amendment No. 2 thereto, dated as of October 31,
2008, that certain Amendment No. 3 thereto, dated as of December 3, 2008, that
certain Amendment No. 4 thereto, dated as of December 12, 2008, that certain
Amendment No. 5 thereto, dated as of May 15, 2009, that certain Amendment No. 6
thereto, dated as of June 8, 2009, and that certain Amendment No. 7 thereto,
dated as of September 2, 2009, and as may be further amended, supplemented or
otherwise modified from time to time, the “Credit Agreement”) by and among Photronics, Inc. (the
“Company”), the Foreign Subsidiary Borrowers from time
to time party thereto (together with the Company, the “Borrowers”), the financial institutions from time to
time party thereto (the “Lenders”) and JPMorgan Chase Bank, National
Association, as Administrative Agent (the “Administrative Agent”), which Amendment No. 8 is dated as of
October 26, 2009 (the “Amendment”). Capitalized terms used in this Consent and
Reaffirmation and not defined herein shall have the meanings given to them in
the Credit Agreement. Without in any way establishing a course of dealing by the
Administrative Agent or any Lender, each of the undersigned consents to the
Amendment and reaffirms the terms and conditions of the Subsidiary Guaranty and
any other Loan Document executed by it and acknowledges and agrees that such
agreements and each and every such Loan Document executed by the undersigned in
connection with the Credit Agreement remains in full force and effect and is
hereby reaffirmed, ratified and confirmed. All references to the Credit
Agreement contained in the above-referenced documents shall be a reference to
the Credit Agreement as so modified by the Amendment and as the same may from
time to time hereafter be amended, modified or restated. 

     

    Dated: October 26,
2009 

     

    [Signature Page
Follows] 

     

    
      

    

     

    
    

    

      	ALIGN-RITE, INC.	     	ALIGN-RITE INTERNATIONAL,
  INC.
	 
	 
	By:	 	 	
            	By:	 	 
	Name:	
            	Name:
	Title:	
            	Title:
	 
	 
	PHOTRONICS ARIZONA, INC.	 	PHOTRONICS CALIFORNIA, INC.
	 
	 
	By:	 	 	
            	By:	 	 
	Name:	
            	Name:
	Title:	
            	Title:
	 
	 
	PHOTRONICS TEXAS, INC.	
            	PHOTRONICS TEXAS ALLEN, INC.
      (formerly
	 	
            	known as Photronics-Toppan Texas,
      Inc.)
	 
	By:	 	 	
            	
            
	Name:	
            	By:	 	 
	Title:	
            	Name:
	 	
            	Title:
	 
	PHOTRONICS TEXAS I, LLC	
            	PHOTRONICS TEXAS I, LP
	 
	By: Photronics Texas, Inc., its Sole
      Member	
            	By: Photronics Texas, Inc., its General
      Partner
	 
	 
	By:	 	 	
            	By:	  	 
	Name:	
            	Name:
	Title:	
            	Title:
	 
	 
	PHOTRONICS TEXAS II, LLC	
            	PHOTRONICS TEXAS II, LP
	 
	By: Photronics-Toppan Texas, Inc., its
      Sole	
            	By: Photronics-Toppan Texas, Inc., its
      General
	Member	
            	Partner
	 
	 
	By:	 	 	
            	By:	 	 
	Name:	
            	Name:
	Title:	
            	Title:

    

     

     

     

     

    Signature Page to
Consent and Reaffirmation to Amendment No. 8 
Photronics, Inc.

Credit Agreement dated as of
June 6, 2007exhibit10-39.htm

     

    Exhibit 10.39 

    EXECUTION COPY 

     

    AMENDMENT NO.
2

     

    Dated as of October
26, 2009

     

    to

     

    LOAN AGREEMENT

     

    Dated as of June 8,
2009 

     

         THIS AMENDMENT NO. 2 (“Amendment”) is made as of October 26, 2009 by and among
Photronics, Inc. (the “Borrower”), the financial institutions listed on the
signature pages hereof and JPMorgan Chase Bank, National Association, as
Administrative Agent (in such capacity, the “Administrative Agent”) and as Collateral Agent (in such capacity,
the “Collateral Agent”), under
that certain Loan Agreement dated as of June 8, 2009 by and among the Borrower,
the Lenders and the Administrative Agent (as amended by that certain Amendment
No. 1 thereto, dated as of September 2, 2009, and as may be further amended,
supplemented or otherwise modified from time to time, the “Loan Agreement”). Capitalized terms used herein and not
otherwise defined herein shall have the respective meanings given to them in the
Loan Agreement. 

     

         WHEREAS, the Borrower has requested that the
Lenders, the Administrative Agent and the Collateral Agent agree to certain
amendments to the Loan Agreement; 

     

         WHEREAS, the Lenders party hereto, the
Administrative Agent and the Collateral Agent have agreed to such amendments on
the terms and conditions set forth herein; 

     

         NOW, THEREFORE, in consideration of the
premises set forth above, the terms and conditions contained herein, and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Borrower, the Lenders party hereto, the Administrative Agent
and the Collateral Agent have agreed to enter into this Amendment. 

     

         1.
Amendments to Loan
Agreement. Effective as of
the date of satisfaction of the conditions precedent set forth in Section 2 below, Section 2.11(c) of the Loan Agreement
is amended to add the parenthetical “(provided, however, that in the case of any
Net Proceeds received in connection with the Chinese Facility Sale, within three
(3) Business Days after approval by SAFE that the Borrower may repatriate such
Net Proceeds to the United States of America)” immediately after the phrase
“within three (3) Business Days after such net Proceeds are received by the
Borrower or any Subsidiary” appearing therein. 

     

         2.
Conditions of Effectiveness. The effectiveness of this Amendment is
subject to the conditions precedent that the Administrative Agent shall have
received counterparts of this Amendment duly executed by the Borrower, the
Required Lenders and the Administrative Agent and the Consent and Reaffirmation
attached hereto duly executed by the Subsidiary Guarantors. 

     

         3.
Representations and Warranties of the Borrower
and Acknowledgements and Confirmations. The Borrower hereby represents and warrants
as follows: 

     

    

    
    

         (a) This Amendment and the
Loan Agreement, as amended hereby, constitute legal, valid and binding obligations of the Borrower
and are enforceable against the Borrower in accordance with their terms, subject
to applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors’ rights generally and subject to general principles of
equity, regardless of whether considered in a proceeding in equity or at law.

     

         (b)
As of the date hereof and giving
effect to the terms of this Amendment, (i) no Default shall have occurred and be
continuing and (ii) the representations and warranties of the Borrower set forth
in the Loan Agreement, as amended hereby, are true and correct as of the date
hereof. 

     

         (c)
The Borrower (and by its
execution of the Consent and Reaffirmation attached hereto, each Subsidiary
Guarantor) hereby acknowledges and confirms that (i) it does not have any
grounds, and hereby agrees not to challenge (or to allege or to pursue any
matter, cause or claim arising under or with respect to) the effectiveness,
genuineness, validity, collectibility or enforceability of the Loan Agreement or
any of the other Loan Documents, the Secured Obligations, the Liens securing
such Secured Obligations, or any of the terms or conditions of any Loan Document
and (ii) it does not possess (and hereby forever waives, remises, releases,
discharges and holds harmless the Lenders, the Agents and their respective
affiliates, stockholders, directors, officers, employees, attorneys, agents and
representatives and each of their respective heirs, executors, administrators,
successors and assigns (collectively, the “Indemnified Parties”) from and against, and agrees not to allege
or pursue) any action, cause of action, suit, debt, claim, counterclaim,
cross-claim, demand, defense, offset, opposition, demand and other right of
action whatsoever, whether in law, equity or otherwise (which it, all those
claiming by, through or under it, or its successors or assigns, have or may
have) against the Indemnified Parties, or any of them, by reason of, any matter,
cause or thing whatsoever, with respect to events or omissions occurring or
arising on or prior to the date hereof and relating to the Loan Agreement or any
of the other Loan Documents (including, without limitation, with respect to the
payment, performance, validity or enforceability of the Secured Obligations, the
Liens securing the Secured Obligations or any or all of the terms or conditions
of any Loan Document) or any transaction relating thereto. 

     

         4. Reference to and Effect on the Loan
Agreement. 

     

         (a)
Upon the effectiveness hereof,
each reference to the Loan Agreement in the Loan Agreement or any other Loan
Document shall mean and be a reference to the Loan Agreement as amended hereby.

     

         (b)
Except as specifically amended
above, the Loan Agreement and all other documents, instruments and agreements
executed and/or delivered in connection therewith shall remain in full force and
effect and are hereby ratified and confirmed. 

     

         (c)
The execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right,
power or remedy of the Administrative Agent or the Lenders, nor constitute a
waiver of any provision of the Loan Agreement or any other documents,
instruments and agreements executed and/or delivered in connection therewith.

     

         5.
Governing Law. This Amendment shall be construed in
accordance with and governed by the law of the State of New York. 

     

         6.
Headings. Section headings in this Amendment are
included herein for convenience of reference only and shall not constitute a
part of this Amendment for any other purpose. 

     

    2 

     

    

    
    

         7. Counterparts. This Amendment may be executed by one or
more of the parties hereto on any number of separate counterparts, and all of
said counterparts taken together shall be deemed to constitute one and the same
instrument. Signatures delivered by facsimile or PDF shall have the same force
and effect as manual signatures delivered in person. 

     

    [Signature Pages
Follow] 

     

    3 

     

    

    
    

         IN WITNESS WHEREOF, this Amendment has been
duly executed as of the day and year first above written. 

     

    
      	
            	PHOTRONICS, INC.,
	
            	as the Borrower
	
            	  
	
            	  
	
            	By:	 	 
	
            	Name:
	
            	Title:

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

     

    Signature Page to
Amendment No. 2
Photronics, Inc. 
Loan Agreement dated as of June 8, 2009 

     

    

    
    

    
      	
            	JPMORGAN CHASE BANK, NATIONAL
      ASSOCIATION,
	
            	individually as a Lender and as
      Administrative Agent
	
            	  
	
            	  
	
            	By:	 	 
	
            	Name:
	
            	Title:
	
            	  
	
            	  
	
            	JPMORGAN CHASE BANK, NATIONAL
      ASSOCIATION,
	
            	as Collateral Agent
	
            	  
	
            	  
	
            	By:	 	 
	
            	Name:
	
            	Title:

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

     

    Signature Page to
Amendment No. 2
Photronics, Inc. 
Loan Agreement dated as of June 8, 2009 

     

    

    
    

    
      	
            	HSBC BANK USA, NATIONAL
      ASSOCIATION,
	
            	as a Lender
	
            	  
	
            	  
	
            	By:	 	 
	
            	Name:
	
            	Title:

    

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

     

    Signature Page to
Amendment No. 2
Photronics, Inc. 
Loan Agreement dated as of June 8, 2009 

     

    

    
    

    
      	
            	CITIBANK, N.A.,
	
            	as a Lender
	
            	  
	
            	  
	
            	By:	 	 
	
            	Name:
	
            	Title:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    
 

     

    Signature Page to
Amendment No. 2
Photronics, Inc. 
Loan Agreement dated as of June 8, 2009 

     

    
      

      
      

       

      
        	
              	BANK OF AMERICA, N.A., 
	
              	as a Lender
	
              	  
	
              	  
	
              	By:	 	 
	
              	Name:
	
              	Title:

      

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      
 

       

      Signature Page to
Amendment No. 2
Photronics, Inc. 
Loan Agreement dated as of June 8, 2009 

       

      

      
      

      CONSENT AND
REAFFIRMATION 

       

           Each of the undersigned hereby acknowledges
receipt of a copy of the foregoing Amendment No. 2 to the Loan Agreement dated
as of June 8, 2009 (as amended by that certain Amendment No. 1 thereto, dated as
of September 2, 2009, and as may be further amended, supplemented or otherwise
modified from time to time, the “Loan Agreement”) by and among Photronics, Inc. (the
“Borrower”), the financial institutions from time to
time party thereto (the “Lenders”) and JPMorgan Chase Bank, National
Association, as Administrative Agent (the “Administrative Agent”), which
Amendment No. 2 is dated as of October 26, 2009 (the “Amendment”). Capitalized terms used in this Consent and
Reaffirmation and not defined herein shall have the meanings given to them in
the Loan Agreement. Without in any way establishing a course of dealing by the
Administrative Agent or any Lender, each of the undersigned consents to the
Amendment and reaffirms the terms and conditions of the Subsidiary Guaranty and
any other Loan Document executed by it and acknowledges and agrees that such
agreements and each and every such Loan Document executed by the undersigned in
connection with the Loan Agreement remains in full force and effect and is
hereby reaffirmed, ratified and confirmed. All references to the Loan Agreement
contained in the above-referenced documents shall be a reference to the Loan
Agreement as so modified by the Amendment and as the same may from time to time
hereafter be amended, modified or restated. 

       

      Dated: October 26,
2009 

       

      [Signature Page
Follows] 

       

      

      
      

      
        	ALIGN-RITE, INC.	     	ALIGN-RITE INTERNATIONAL,
  INC.
	 
	 
	By:	 	 	
              	By:	 	 
	Name:	
              	Name:
	Title:	
              	Title:
	 
	 
	PHOTRONICS ARIZONA, INC.	 	PHOTRONICS CALIFORNIA, INC.
	 
	 
	By:	 	 	
              	By:	 	 
	Name:	
              	Name:
	Title:	
              	Title:
	 
	 
	PHOTRONICS TEXAS, INC.	
              	PHOTRONICS TEXAS ALLEN, INC.
      (formerly
	 	
              	known as Photronics-Toppan Texas,
      Inc.)
	 
	By:	 	 	
              	
              
	Name:	
              	By:	 	 
	Title:	
              	Name:
	 	
              	Title:
	 
	PHOTRONICS TEXAS I, LLC	
              	PHOTRONICS TEXAS I, LP
	 
	By: Photronics Texas, Inc., its Sole
      Member	
              	By: Photronics Texas, Inc., its General
      Partner
	 
	 
	By:	 	 	
              	By:	  	 
	Name:	
              	Name:
	Title:	
              	Title:
	 
	 
	PHOTRONICS TEXAS II, LLC	
              	PHOTRONICS TEXAS II, LP
	 
	By: Photronics-Toppan Texas, Inc., its
      Sole	
              	By: Photronics-Toppan Texas, Inc., its
      General
	Member	
              	Partner
	 
	 
	By:	 	 	
              	By:	 	 
	Name:	
              	Name:
	Title:	
              	Title:

      

      

         

         

         

         

         

         
Signature
Page to Consent and Reaffirmation to Amendment No. 2
Photronics,
Inc.
Loan Agreement dated as of June 8, 2009

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