Document:

EX-10.1

 Exhibit 10.1 

THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY
OTHER SECURITIES LAWS, AND NO INTEREST THEREIN MAY BE SOLD, DISTRIBUTED, ASSIGNED, OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THIS WARRANT AND IN ACCORDANCE WITH APPLICABLE SECURITIES LAWS. 

 
  
  

			
	Warrant No. W-4	  	Issue Date: October 5, 2016

 SEMTECH CORPORATION 

WARRANT FOR COMMON STOCK 

Semtech Corporation (the “Company”), for value received, hereby certifies and agrees that Comcast Cable Communications
Management, LLC, or its registered assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company, at any time from the Issue Date and prior to the Expiration Date (as defined below), up to
Eight Hundred Sixty Nine Thousand Five Hundred Sixty-Five (869,565) shares (the “Warrant Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”), at a purchase price (the
“Exercise Price”) per share equal to $0.01. The number of Warrant Shares to be purchased upon exercise of this Warrant is subject to adjustment as hereinafter provided. This Warrant is issued in replacement of that certain Warrant
No. W-1 dated October 5, 2016, as replaced by Warrant No. W-2 and Warrant No. W-3 (the “Prior Warrant”) to
purchase a total of 1,086,957 shares of Common Stock. The Prior Warrant was exercised with respect to (i) 108,696 shares of Common Stock underlying the Prior Warrant, representing 10% of the total shares originally subject to the Prior Warrant,
which vested and was exercisable as of October 5, 2016, and (ii) 108,696 shares of Common Stock underlying the Prior Warrant, representing 10% of the total shares originally subject to the Prior Warrant which vested and was exercisable as of
September 6, 2017. The Prior Warrant has been surrendered and is no longer issued or outstanding. 
  

	1.	 Defined Terms. For purposes of this Warrant: 

“Affiliate” has the meaning ascribed to such term in Rule 12b-2 of
the Exchange Act. 
 “Agreement” means the Agreement dated as of the Issue Date by and between the Company
and Comcast Cable Communications Management, LLC. 
 “Board” means the Board of Directors of the Company.

 “Business Day” means any day except Saturday, Sunday and any day on which banking institutions in the
State of New York generally are authorized or required by law or other governmental actions to close. 

“Comcast” means Comcast Corporation. 

“Exchange Act” means Securities Exchange Act of 1934, as amended. 

“Exercise Date” has the meaning ascribed to such term in Section 2(a). 

“Expiration Date” means the Expiration Date as provided for in Section 4. 

 “Fair Market Value” of a Warrant Share means, as of any
date: 
  

	 	(a)	 if the Common Stock is listed on the NASDAQ Stock Market or another U.S. national securities exchange, the
average of the closing prices of the Common Stock on such market over the ten-trading-day period ending on the trading day immediately prior to such date (as determined
by reference to the screen entitled “SMTC <Equity> HP” as reported by Bloomberg L.P., without regard to pre-open or after hours trading outside of any regular trading sessions for any such
scheduled trading day on such trading day); 

  

	 	(b)	 if the Common Stock is not listed on the NASDAQ Stock Market or another U.S. national securities exchange, the
average of the quoted sale prices of the Common Stock in the over-the-counter market as reported by OTC Markets Group Inc. or other similar organization over the ten-trading-day period ending on the trading day immediately prior to such date (as determined by reference to the screen entitled “SMTC <Equity> HP” as
reported by Bloomberg L.P., without regard to pre-open or after hours trading outside of any regular trading sessions for any such scheduled trading day on such trading day); or 

 

	 	(c)	 otherwise, the fair market value of a share of Common Stock shall be the price that would be negotiated in an arm’s-length transaction for cash between a willing seller and a willing and able buyer, both having full knowledge of the relevant facts and neither of which is under any compulsion to complete the
transaction, without regard for control premiums or minority or illiquidity discounts, as such price is determined by the Board; provided, that, the Company shall give the Holder prompt written notice of any such determination, together with
reasonable data to support such determination, and, if the Holder objects to any such determination within three Business Days after receiving notice of the same, the Fair Market Value shall be the fair market value of a share of Common Stock that
would be negotiated in an arm’s-length transaction for cash between a willing seller and a willing and able buyer, both having full knowledge of the relevant facts and neither of which is under any
compulsion to complete the transaction, without regard for control premiums or minority or illiquidity discounts as determined by an independent appraiser selected in good faith by the Board and reasonably acceptable to the Holder, the fees and
expenses of which shall be borne by the Company (unless such appraiser’s determination of the Fair Market Value is not greater than 105% or less than 95% of the Fair Market Value as determined by the Board, in which case the cost of such
appraiser shall be borne by the Holder), and the determination of such appraiser shall be final and binding on the Company and the Holder for the purpose of determining Fair Market Value. 

“Fundamental Transaction” has the meaning ascribed to such term in Section 6(b).

 “Issue Date” means the Issue Date first written above. 

“Prior Warrant” has the meaning ascribed to such term in the preamble of this Warrant. 

“Securities Act” means the Securities Act of 1933, as amended. 

  
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 “Warrant” means this Warrant for Common Stock and all other
warrants issued upon transfer, division or combination of, or in substitution for, this Warrant or such other warrants in accordance with the terms and conditions hereof. 

“Warrant Shares” has the meaning ascribed to such term in the preamble of this Warrant. 

 

	2.	 Exercise. 

  

	 	(a)	 Method of Exercise. This Warrant may be exercised by the Holder at any time and from time to time prior
to the Expiration Date for all or any portion of the number of Warrant Shares purchasable hereunder. In order to exercise this Warrant, in whole or in part, the Holder shall deliver to the Company at its principal offices prior to 5:00 p.m., New
York City time, on a Business Day (A) this Warrant, (B) a duly executed copy of the form of Notice of Exercise attached hereto (together, the “Exercise Notice”), which Exercise Notice shall specify the number of Warrant
Shares subject to such Exercise Notice and the extent, if any to which, exercise pursuant to such Exercise Notice shall be settled through Physical Delivery (as defined below) and/or Net Share Settlement (as defined below), and whether the Holder
requests Net Cash Settlement (as defined below), and (C) in the case of exercise pursuant to Section 2(a)(i) below, payment in full of the aggregate Exercise Price for the portion of the Warrant being exercised, in cash by wire transfer of
immediately available U.S. funds to an account designated by the Company. The date on which such delivery shall have taken place shall be referred to as the “Exercise Date”); provided, that, if such delivery is made after
5:00 p.m., New York City time, on any Business Day, the Exercise Date shall be the next succeeding Business Day. 

  

	 	(i)	 Physical Delivery. If the Holder has elected to settle the exercise of this Warrant through physical
delivery of Warrant Shares upon cash payment by the Holder (“Physical Delivery”) of the Exercise Price in effect under this Warrant as of the Exercise Date in accordance with this Section 2(a)(i), the portion of this Warrant
being so exercised shall be canceled and the Company shall issue to the Holder the number of Warrant Shares elected to be delivered by Physical Delivery in the applicable Exercise Notice. 

 

	 	(ii)	 Net Share Settlement. If the Holder has elected to settle the exercise of this Warrant through a net or
“cashless” exercise by using certain Warrant Shares that the Holder would have otherwise received upon such settlement as payment of the Exercise Price (“Net Share Settlement”) in accordance with this
Section 2(a)(ii), the portion of this Warrant being so exercised shall be canceled and the Company shall issue to the Holder a number of Warrant Shares computed using the following formula: 

X = Y * (A - B) 

A 

where: 

X = the number of Warrant Shares to be issued to the Holder. 

Y = the number of Warrant Shares purchasable under the Warrant or, if only a portion of the Warrant is being exercised, the
number of Warrant Shares subject to the applicable Exercise Notice. 

  
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 A = the Fair Market Value as of the Exercise Date. 

B = the Exercise Price in effect under this Warrant as of the Exercise Date. 

* = multiplied by. 
  

	 	(iii)	 Net Cash Settlement. If the Holder has requested to settle the exercise of this Warrant through payment
of cash by the Company to the Holder, net of the Exercise Price, in lieu of issuing any Warrant Shares (“Net Cash Settlement”) in accordance with this Section 2(a)(iii), and if the Company agrees, in its sole and absolute
discretion, to effect such Net Cash Settlement in lieu of the settlement election made by the Holder in the Exercise Notice (in which case the Company shall so notify the Holder in writing within two (2) Business Days following the Exercise
Date, but it being understood that the Company may decline such request for any reason or no reason, and in the absence of any response by the Company to such request, such request shall be deemed declined), the portion of this Warrant being so
exercised shall be canceled, and the Company shall deliver to Holder an amount of cash computed using the following formula: 

X = Y * (A - B) 

where: 

X = the Net Cash Settlement amount to be paid to the Holder. 

Y = the number of Warrant Shares purchasable under the Warrant or, if only a portion of the Warrant is being exercised, the
number of Warrant Shares subject to the applicable Exercise Notice. 
 A = the Fair Market Value as of the Exercise Date.

 B = the Exercise Price in effect under this Warrant as of the Exercise Date. 

* = multiplied by. 
  

	 	(b)	 Effectiveness. Each exercise of this Warrant shall be deemed to have been effected immediately prior to
the close of business on the Exercise Date. As soon as practicable after each exercise of this Warrant, and in any event within three Business Days thereafter, the Company shall execute (or cause to be executed) and deliver (or cause to be
delivered) to the Holder a certificate or certificates representing the aggregate number of full Warrant Shares, if any, to be issued upon such exercise (which, upon Holder’s request, will be issued in book entry form in lieu of physical
certificates), together with any cash in lieu of any fraction of a share as provided in Section 2(c), or, in the case of Net Cash Settlement as provided in Section 2(a)(iii), if applicable, the
relevant cash amount. The stock certificate or certificates so delivered shall be, to the extent possible, in such denomination or denominations as the exercising Holder shall reasonably request in the Exercise Notice or otherwise and shall be
registered in the name of the Holder or such other name as shall be designated in the Exercise Notice. This Warrant shall be deemed to have been exercised, and such stock certificate or certificates shall be deemed to have been issued, and the
Holder or any other person so designated to be named therein shall be deemed to have 

  
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become a holder of record of the shares of Common Stock evidenced by such stock certificate or certificates for all purposes, as of the Exercise Date. 

 

	 	(c)	 No Fractional Shares. No fractional shares of any security will be issued in connection with any
exercise hereunder. As to any fraction of a share that would otherwise be issuable, the Company shall pay cash equal to such fraction multiplied by the Fair Market Value as of the applicable Exercise Date. 

 

	 	(d)	 Partial Exercise. If this Warrant shall have been exercised in part, the Company shall, not later than
the time of delivery of the certificate or certificates representing the Warrant Shares being issued pursuant to such exercise, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unexercised Warrant Shares
subject to this Warrant. Such new Warrant shall in all other respects be identical to this Warrant. 

  

	 	(e)	 Payment of Taxes and Other Expenses. In connection with the exercise of this Warrant, the Company shall
pay all of its expenses and all issuance, transfer, stamp and other similar incidental taxes imposed by any taxing authority in the United States with respect to the issuance or delivery of Warrant Shares; provided, however, that the Company shall
not be required to pay any tax or other charge imposed in respect of any transfer involved in the Company’s issuance and delivery of Warrant Shares (including certificates therefor) (or any payment of cash or other property in lieu of such
shares) to any recipient other than the Holder, and in case of any such tax or other charge, the Company shall not be required to issue or deliver any such shares (or cash or other property in lieu of such shares) until such tax or charge has been
paid or an amount sufficient for the payment thereof has been delivered to the Company or it has been established to the Company’s satisfaction that any such tax or other charge that is or may become due has been paid. 

 

	3.	 Vesting. The entirety of this Warrant is as of April 27, 2018 fully vested and exercisable.

  

	4.	 Expiration. Notwithstanding anything to the contrary, this Warrant and the right to purchase Warrant
Shares upon exercise of this Warrant shall expire at 5:00 p.m. New York City time on the seventh anniversary of the Issue Date (“Expiration Date”). 

 

	5.	 Notices of Certain Events. In case: 

 

	 	(a)	 the Company shall take a record of the holders of the Common Stock for the purpose of entitling or enabling
them to receive any dividend or other distribution, or to receive any right to subscribe for or purchase any shares of stock or any class or any other securities, or to receive any other right, or 

 

	 	(b)	 of any Fundamental Transaction, or 

 

	 	(c)	 of the voluntary or involuntary dissolution, liquidation or winding-up
of the Company, then, and in each such case: 

 the Company will mail or cause to be mailed to the Holder
of this Warrant a notice specifying, as the case may be, (i) the date on which a record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and character of such dividend, distribution or right, or
(ii) the estimated effective date on which such Fundamental Transaction, dissolution, liquidation or winding-up is to take place, and the time, if any is to be fixed, as of which the holders of record

  
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of the Common Stock shall be entitled to exchange their shares for cash, securities or other property deliverable upon such Fundamental Transaction, dissolution, liquidation or winding-up. Such notice shall be mailed at least 10 calendar days prior to the record date or effective date for the event specified in such notice. Failure to provide such notice shall not affect the validity of
any action taken. For the avoidance of doubt, no such notice (or the failure to provide it to the Holder) shall supersede or limit any adjustment called for by Section 6 below by reason of any event as to which notice is
required by this Section. 
  

	6.	 Adjustment of Number of Warrant Shares. The number and kind of Warrant Shares shall be subject to
adjustment from time to time upon the occurrence of certain events, as follows; provided, that, if more than one subsection of this Section is applicable to a single event, the subsection that produces the largest adjustment shall be applied,
and no single event shall cause an adjustment under more than one subsection of this Section to the extent of any resulting duplication: 

  

	 	(a)	 Stock Dividends or Splits. If, at any time after the Issue Date, the number of shares of Common Stock
(or other class of capital stock of the Company then issuable upon exercise of this Warrant) outstanding is increased by a stock dividend payable in shares of Common Stock (or such other class of capital stock) or by a subdivision or split-up of shares of Common Stock (or such other class of capital stock), then, effective as of the record date for the determination of holders of Common Stock (or such other class of capital stock) entitled to
receive such stock dividend, or to be affected by such subdivision or split-up, the number of Warrant Shares issuable upon exercise of this Warrant shall be proportionately increased. If, at any time after the
Issue Date, the number of shares of Common Stock (or such other class of capital stock) outstanding is decreased by a combination of the outstanding shares of Common Stock (or such other class of capital stock) into a smaller number of shares of
Common Stock (or such other class of capital stock), then, following the record date to determine shares affected by such combination, the number of Warrant Shares issuable upon exercise of this Warrant shall be proportionately decreased. Any
adjustment under this Section 6(a) shall become effective at the close of business on the date the dividend, subdivision or combination becomes effective. 

 

	 	(b)	 Reclassifications, Reorganizations, Consolidations or Mergers. In the event of any capital
reorganization of the Company, any reclassification of the stock of the Company (other than a change in par value or from par value to no par value or from no par value to par value or as a result of a stock dividend or subdivision, split-up or combination of shares), or any consolidation or merger of the Company with or into another corporation (where the Company is not the surviving corporation or where there is a change in or distribution
with respect to the Common Stock) (in any case, other than any such transaction covered by Section 6(a)) (each, a “Fundamental Transaction”), the Company shall make appropriate provision so that the holder
of this Warrant shall have the right to receive upon exercise of this Warrant, in lieu of the Warrant Shares, the cash, securities or other property of the Company or of the successor corporation resulting from such Fundamental Transaction, if any,
to which the holder of the number of Warrant Shares then underlying this Warrant (immediately prior to the time of such Fundamental Transaction) would have been entitled upon and as a result of such Fundamental Transaction, subject to the other
terms and conditions of this Warrant; provided, that, if the holders of Common Stock (or other class of capital stock of the Company then issuable upon exercise of this Warrant) have the right to elect the kind or amount of consideration
receivable upon consummation of any such Fundamental Transaction, then the consideration that the Holder shall be entitled to receive upon exercise of this Warrant shall be the types and amounts of consideration received by

  
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the majority of all holders of the shares of Common Stock (or such other class of capital stock) that affirmatively make an election (or of all such holders if none make an election).

  

	 	(c)	 Rounding of Calculations; Minimum Adjustments. All calculations under this
Section 6 shall be made to the nearest one-tenth (1/10th) of a cent or to the nearest one-hundredth (1/100th) of a share, as the case may be.
Any provision of this Section 6 to the contrary notwithstanding, no adjustment in the Exercise Price or the number of shares of Common Stock into which this Warrant is exercisable shall be made if the amount of such
adjustment would be less than $0.01 or one-tenth (1/10th) of a share of Common Stock, but any such amount shall be carried forward and an adjustment with respect thereto shall be made at the time of and
together with any subsequent adjustment which, together with such amount and any other amount or amounts so carried forward, shall aggregate $0.01 or 1/10th of a share of Common Stock, or more. 

 

	 	(d)	 Notice of Adjustment. Whenever the terms of this Warrant are adjusted pursuant to this
Section 6 or pursuant to any other applicable provision hereof, the Company shall deliver to the Holder in accordance with the notice provisions below a certificate signed by the Chief Financial Officer or another officer
of the Company describing, in reasonable detail, the change or event requiring such adjustment and the newly adjusted number of Warrant Shares and, as applicable, the cash, kind and amount of shares, securities or other property purchasable
hereunder after giving effect to such adjustment. 

  

	7.	 Reservation of Stock; Validity. The Company will at all times reserve and keep available, solely for
the issuance and delivery upon the exercise of this Warrant, such Common Stock and other stock, securities and property, as from time to time shall be issuable upon the exercise of this Warrant. All securities which shall be so issuable, when issued
upon exercise of the Warrant in accordance with this Warrant, will be validly issued, fully paid and nonassessable, issued without violation of any preemptive rights, and issued free and clear of any lien, charge, security interest, pledge, or
similar encumbrance. The Company will not, by amendment of its Certificate of Incorporation, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times use its commercially reasonable efforts to
take such actions and do such other things, as may be reasonably requested by the Holder to carry out the provisions of this Warrant. Without limiting the generality of the foregoing, the Company will (i) take all such action as may be
necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (ii) use its commercially reasonable efforts to obtain, make or file (as
applicable) any consents, approvals, orders, waivers, exemptions, authorizations, registrations, declarations, filings, qualifications, certifications, notices, applications, or reports from, to or with any regulatory body having jurisdiction
thereof, in any case as may be required on the part of the Company to enable the Company to perform its obligations under this Warrant, including obtaining stockholder approval if necessary. 

 

	8.	 Replacement of Warrant. Upon delivery by the Holder to the Company of evidence reasonably satisfactory
to the Company (such as an affidavit of the Holder) of the loss, theft, destruction or mutilation of this Warrant and (in the case of loss, theft or destruction) upon delivery of an indemnity agreement in an amount reasonably satisfactory to the
Company, or (in the case of mutilation) upon surrender and cancellation of this Warrant, the Company will issue, in lieu thereof, a new Warrant of like tenor and dated as of the Issue Date. 

  
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	9.	 No Rights as Stockholder. Until the exercise of this Warrant for Warrant Shares (including any partial
exercise pursuant to Section 2(d)), the Holder of this Warrant shall not have or exercise any rights as a stockholder of the Company by virtue of this Warrant. 

 

	10.	 Transfer. 

  

	 	(a)	 Permitted Transfers. At any time and from time to time prior to the Expiration Date, Holder may,
pursuant to this Section 10(a), sell, assign or transfer to any person all or any portion of this Warrant, so long as such transfer does not violate applicable laws (including securities laws). 

 

	 	(b)	 Notice of Transfer; Transfer Procedures. Promptly following any sale, assignment or other transfer of
this Warrant or any portion of this Warrant pursuant to Section 10(a) of this Warrant, the Holder shall surrender this Warrant to the Company, together with written notice of (x) the name, address, telephone number and facsimile number of
the transferee and (y) an acknowledgement and agreement of such transferee to the terms of this Warrant, and the Company shall promptly thereafter (i) deliver to the designated transferee a new Warrant that reflects the new transferee as
warrantholder and that is identical in all respects to this Warrant (including being dated as of the Issue Date); provided, however, that in the event of a partial transfer of this Warrant, the Company shall deliver to the transferee a new
warrant evidencing the rights of the Holder so transferred and shall deliver to the Holder a new warrant evidencing the rights of the Holder not so transferred and (ii) register on the books and records of the Company such transfer. The Company
may require payment of a sum sufficient to cover any stamp or other tax or other charge that may be imposed in connection with any registration of such transfer. 

 

	 	(c)	 Indirect Transfers. For the avoidance of doubt, nothing in this Warrant shall prohibit the indirect
transfer of this Warrant or any interest herein that results from any change of ownership of the Holder. 

  

	11.	 Securities Laws Matters. 

 

	 	(a)	 The Holder represents and warrants to the Company that the Holder is an “accredited investor” within
the meaning of the Securities Act, is experienced in investing in companies such as the Company, is able to bear the economic risk and withstand a complete loss of its investment in this Warrant and the Warrant Shares, has such knowledge and
experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Warrant and the Warrant Shares, is acquiring this Warrant and the Warrant Shares for its own account for investment and not
with a view to, or for resale in connection with, any distribution within the meaning of the Securities Act, and understands that this Warrant and the Warrant Shares are characterized as “restricted securities” under U.S. federal
securities laws since they are being acquired from the Company in a transaction not involving a public offering and that under such laws such securities may be resold without registration under the Securities Act only in certain limited
circumstances. 

  

	 	(b)	 The Holder agrees that any Warrant or certificate representing Warrant Shares shall bear the following legend
(or comparable restriction, if in book entry form); provided, that, at such time that such legend is no longer applicable as reasonably determined by the Company with the advice of counsel, the Holder may request in writing that the Company

  
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issue a new instrument of like tenor without such legend, and the Company shall so issue such a certificate or instrument: 

THE SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED, OR ANY OTHER SECURITIES LAWS, AND NO INTEREST THEREIN MAY BE SOLD, DISTRIBUTED, ASSIGNED, OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THIS WARRANT AND IN ACCORDANCE WITH APPLICABLE SECURITIES LAWS. 

 

	12.	 Company Representations and Warranties. The Company hereby represents and warrants to the Holder that,
as of the Issue Date: 

  

	 	(a)	 Organization, Good Standing and Corporate Power. The Company is a corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware. The Company has all requisite corporate power and authority to execute, deliver and perform its obligations under this Warrant. 

 

	 	(b)	 Authorization. All corporate action on the part of the Company (including its Board, officers and
stockholders) necessary to authorize the execution, delivery and performance of this Warrant by the Company has been taken. This Warrant constitutes the valid and legally binding obligations of the Company, enforceable against the Company in
accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights
generally and (ii) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies. 

  

	 	(c)	 Valid Issuance of Shares. The Warrant Shares have been duly reserved for issuance and, upon issuance in
accordance with the terms of this Warrant, will be duly authorized, validly issued, fully paid and nonassessable and issued free and clear of any lien, charge, security interest, pledge, or similar encumbrance. The offer, sale and issuance of this
Warrant and the issuance of the Warrant Shares upon exercise hereof (i) are not subject to and will not give rise to any preemptive rights or rights of first refusal with respect thereto and (ii) are and will be in compliance with all
applicable federal and state securities laws. 

  

	 	(d)	 Governmental Consents and Filings. No consent, approval, order, waiver, exemption or authorization of,
registration, declaration, filing or qualification with, certification, notice, application or report to, any governmental authority, self-regulatory organization (including the NASDAQ Stock Market or any other applicable national securities
exchange) or any other third party is required on the part of the Company in connection with the execution and delivery of this Warrant or the offer, sale and issuance of this Warrant or the issuance of the Warrant Shares upon exercise hereof.

  

	13.	 Confidentiality. 

 

	 	(a)	 Confidential Information. From time to time, either party hereto (the “Disclosing
Party”) may disclose or make available to the other party hereto (the “Receiving Party”), in writing, confidential information concerning the Disclosing Party and/or its business, products, processes, or services in
connection with this Warrant and which at the time of disclosure 

  
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either is marked as “Confidential” or is otherwise reasonably identifiable as the confidential information of the Disclosing Party (together, “Confidential
Information”). Each party hereto agrees that: (i) it will use Confidential Information belonging to the Disclosing Party solely for the purposes of this Warrant; and (ii) it will take all reasonable precautions to ensure that it
does not disclose Confidential Information belonging to the Disclosing Party to any third party (other than the Receiving Party’s employees and/or sub-contractors on a need-to-know basis who are bound by obligations of nondisclosure and limited use at least as stringent as those contained herein) without first obtaining the Disclosing Party’s written consent. For
Confidential Information that does not constitute “trade secrets” under applicable law, these confidentiality obligations will expire five years after the termination or expiration of this Warrant. For Confidential Information that
constitutes a “trade secret” under applicable law, these confidentiality obligations will continue until such information ceases to constitute a “trade secret” under such applicable law. The Receiving Party will be responsible
for any breach of this Section by its employees, representatives, agents and any subcontractors. Upon the request of a Disclosing Party, the Receiving Party will deliver to the Disclosing Party or destroy all copies of the Disclosing Party’s
Confidential Information, except that the Receiving Party may retain one set of copies of the documents otherwise to be returned or destroyed to the extent required for compliance purposes only and except for the Confidential Information that are
retained in the Receiving Party’s and/or its subcontractor’s standard backup systems in the normal course of business. Upon request the Receiving Party agrees to confirm in writing to the Disclosing Party that it and each of its affiliates
has performed the foregoing. 

  

	 	(b)	 Exclusions. “Confidential Information” will not include any information that:
(i) was independently developed by the Receiving Party without use of or reference to any Confidential Information belonging to the Disclosing Party; (ii) was acquired by the Receiving Party from a third party having the legal right to
furnish same to the Receiving Party; (iii) was at the time in question (whether at disclosure or thereafter) generally known by or available to the public (through no act or omission of the Receiving Party); or (iv) was rightfully known to
the Receiving Party at the time of disclosure. Furthermore, these confidentiality obligations will not restrict any disclosure required by order of a court or any government agency, provided that the Receiving Party gives prompt notice to the
Disclosing Party of any such order and reasonably cooperates with the Disclosing Party at the Disclosing Party’s request and expense to resist such order or to obtain a protective order. Each Party further agrees that these confidentiality
obligations will not restrict any disclosure of this Warrant as may be required by law, including, without limitation, pursuant to the requirements of the Securities and Exchange Commission and the NASDAQ Stock Market. 

 

	14.	 Miscellaneous. 

 

	 	(a)	 Notices. All notices and other communications from the Company to the Holder of this Warrant in
connection with this Warrant shall be sufficiently made if sent by first class mail, postage prepaid, personal delivery, by facsimile, or by nationally recognized express same-day, next-day or second-day courier service to the address or facsimile number, as applicable, of such Holder appearing on the books of the Company maintained for such purpose (as
changed by the Holder from time to time by like notice). All notices and other communications from the Holder of this Warrant to the Company, including any Exercise Notice in connection with this Warrant, shall be sufficiently made if sent by
nationally 

  
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recognized express same-day, next-day or second-day courier service at its
principal offices as shown below or as changed by the Company from time to time by like notice. All such notices shall be deemed to be delivered, given and received for all purposes as of: (i) three Business Days immediately following the date
sent, if sent by first class mail, postage prepaid, (ii) the date so delivered, if delivered personally, (iii) the date sent, if sent by facsimile, and (iv) the date sent, the next Business Day, or the second Business day, if sent by same-day, next-day or second-day courier service, respectively. 

 

	 	(b)	 Amendment or Waiver. Any term of this Warrant may be amended or waived only by an instrument in writing
signed by the party against which enforcement of the change or waiver is sought. 

  

	 	(c)	 Successors and Assigns. The rights and obligations of the parties may not be assigned or delegated
without the prior written consent of the other party except as provided herein. Subject to the terms hereof, this Warrant and the rights evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the
permitted successors and assigns of the Holder hereof. The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and to the extent applicable, all Holders of Warrant Shares issued upon the
exercise hereof (including transferees), and shall be enforceable by any such Holder. 

  

	 	(d)	 Interpretation. In case any provision of this Warrant shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. If, however, any provision of this Warrant shall be invalid, illegal, or unenforceable under any such applicable law in any
jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such law, or, if for any reason it is not deemed so modified, it shall be invalid, illegal, or unenforceable only to the extent of such
invalidity, illegality, or limitation on enforceability without affecting the remaining provisions of this Warrant, or the validity, legality, or enforceability of such provision in any other jurisdiction. The Company and the Holder each
acknowledges that any applicable law that would require interpretation of any claimed ambiguities in this Warrant against the drafter thereof, has no application and is expressly waived. If any claim is made relating to any conflict, omission or
ambiguity in the provisions of this Warrant, no presumption or burden of proof or persuasion will be implied because this Warrant was prepared by or at the request of the Company or the Holder or its respective counsel. The headings and titles used
in this Warrant are used for convenience only and are not to be considered in construing or interpreting this Warrant. This Warrant together with the exhibits and schedules hereto constitutes the entire agreement between the parties with respect to
the subject matter hereof and supersedes all other prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof; for the avoidance of doubt, the terms and conditions of the Agreement shall
apply exclusively to the Agreement and the subject matter thereof, and the terms and conditions of the Agreement shall not govern this Warrant or the subject matter hereof. 

 

	 	(e)	 Governing Law; Venue. This Warrant shall be governed by and construed in accordance with the internal
laws of the State of Delaware. Each party unconditionally and irrevocably agrees to submit to the exclusive jurisdiction of the Delaware Court of Chancery (or other applicable state or federal courts in the State of Delaware if such court lacks
jurisdiction) and any appellate court from such court for the purpose of any dispute, controversy or 

  
 - 11 - 

	 	 
claim arising under or relating to this Warrant or the breach, termination or validity thereof. Each party unconditionally and irrevocably waives any objections which they may have now or in the
future to such jurisdiction, including any objections by reason of lack of personal jurisdiction, improper venue or inconvenient forum. 

[The remainder of this page has intentionally been left blank] 

  
 - 12 - 

 IN WITNESS WHEREOF, the Company caused this Warrant to be executed by an
officer thereunto duly authorized. 
  

			
	THE COMPANY
	
	SEMTECH CORPORATION
		
	By:	 	/s/ Emeka Chukwu
	Name:    	 	Emeka N. Chukwu
	Title:	 	Executive Vice President and Chief Financial Officer

 Agreed and acknowledged by the Holder: 

 

			
	THE HOLDER
	
	COMCAST CABLE COMMUNICATIONS
	MANAGEMENT, LLC
		
	By:	 	/s/ Robert Eatroff
	Name:    	 	Robert Eatroff
	Title:	 	Executive Vice President
		 	Global Corporate Development
		 	and Strategy

 [Signature Page to Warrant] 

 NOTICE OF EXERCISE 

 

	To:	 Semtech Corporation (the “Company”) 

Attention: Corporate Secretary 

The undersigned Holder of the attached Warrant exercises: 

[__]     this Warrant in full; or 

[__]     a portion of this Warrant for
                     shares of Common Stock 

on a [Physical Delivery basis / Net Share Settlement basis / Net Cash Settlement basis, subject to the Company’s
agreement thereto, which the undersigned Holder hereby requests,] in accordance with Section 2(a) of the Warrant, and hereby instructs the Company to issue [certificates for a number of Warrant Shares / payment in an amount]
determined pursuant to Section 2(a) of the Warrant in the name of and delivered to
                                         
                                         
                       whose address is: 
  

	
	 
	 
	 
	 
	 
	
                    

 and if such issued shares of Common Stock or payment, as the case may be, shall not constitute the entirety of
the Warrant, to deliver a new Warrant of like tenor and date for the balance of the shares of Common Stock issuable under the Warrant to the undersigned. 
  

			
		
	 Registered Holder:
	 	 

 
			
		
	 By: 
	 	 

 
			
		
	 Name: 
	 	 

 
			
		
	 Title: 
	 	 

 
			
		
	 Date:srcl-ex1011_209.htm

Exhibit 10.11

 

Execution Version

 

 

 

 

Stericycle, Inc.

___________________________________

Fourth Amendment

Dated as of March 23, 2018

to

Note Purchase Agreement

Dated as of April 30, 2015

___________________________________

 

Re:2.67% Senior Notes, Series A, due July 1, 2022

and

2.79% Senior Notes, Series B, due July 1, 2023

 

 

 

 

 

Fourth Amendment to Note Purchase Agreement

This Fourth Amendment dated as of March 23, 2018 (the or this “Agreement”) to the Note Purchase Agreement referred to below is between Stericycle, Inc., a Delaware corporation (the “Company”), and each of the institutions which is a signatory to this Agreement (collectively, the “Noteholders”).

Recitals:

Whereas, the Company and each of the Noteholders have heretofore entered into the Note Purchase Agreement dated as of April 30, 2015, as amended by that certain First Amendment thereto dated as of June 30, 2015, that certain Second Amendment dated as of August 30, 2015 and that Third Amendment dated as of July 28, 2017 (as so amended, the “Note Purchase Agreement”), pursuant to which the Company issued on or about April 30, 2015 (a) $250,000,000 aggregate principal amount of its 2.67% Senior Notes, Series A, due July 1, 2022 (as amended, the “Series A Notes”) and (b) $100,000,000 aggregate principal amount of its 2.79% Senior Notes, Series B, due July 1, 2023 (as amended, the “Series B Notes” and together with the Series A Notes, collectively, the “Notes”);

Whereas, the Company and the Noteholders now desire to amend the Note Purchase Agreement and the Notes in the respects, but only in the respects, hereinafter set forth;

Whereas, all capitalized terms used herein and not defined herein shall have the meaning specified in the Note Purchase Agreement;

Whereas, all requirements of law have been fully complied with and all other acts and things necessary to make this Agreement a valid, legal and binding instrument according to its terms for the purposes herein expressed have been done or performed.

Now, therefore, upon the full and complete satisfaction of the conditions precedent to effectiveness set forth in Section 3.1 hereof, and for good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Company and each of the Noteholders do hereby agree as follows:

	
Section 1.
	
Amendments.

	

	
Section 1.1.Section 9.9 of the Note Purchase Agreement shall be deleted in its entirety and replaced with the words “Reserved.”.

	

	
Section 1.2.Section 9.10 of the Note Purchase Agreement shall be and is hereby amended in its entirety as follows:

	
 
	

	
Section 9.10.Note Rating.  The Company will, at any time during which (a) (i) the Company’s rating is A- or better by S&P or the equivalent rating by any other Rating Agency, (ii) the Notes do not then have a Private Letter Rating from a Rating 

 

Stericycle, Inc.Fourth Amendment

 

	
 
		
Agency and (iii) the Securities Valuation Office of the National Association of Insurance Commissioners does not currently rate the Notes “1” or (b) (i) the Company’s rating is BBB- or better by S&P or the equivalent rating by any other Rating Agency, (ii) the Notes do not then have a Private Letter Rating from a Rating Agency and (iii) the Securities Valuation Office of the National Association of Insurance Commissioners does not currently rate the Notes “2” or “1”, at the request of the Required Holders, obtain a Private Letter Rating with respect to the Notes from one Rating Agency requested by the Required Holders.

	

	
Section 1.3.The following shall be added as new Sections 10.1(a)(iii) to the Note Purchase Agreement as follows:  

“(iii) If at the end of any fiscal quarter of the Company ending before or on December 31, 2019, the Unadjusted Consolidated Leverage Ratio exceeded 3.75 to 1.00, the per annum interest rate (including any Default Rate, if applicable) otherwise applicable to each series of the Notes as specified in the first paragraph thereof shall be increased as set forth below (the “Primary Elevated Interest Rate”) from the date that such Unadjusted Consolidated Leverage Ratio was in excess of 3.75 to 1.00 to but not including the date that the Unadjusted Consolidated Leverage Ratio is 3.75 to 1.00 or less.  The Company shall promptly, and in any event within 10 Business Days after such increase, notify the holders of the Notes in writing and specify the date of such commencement.  Payment of the Primary Elevated Interest Rate shall not constitute a waiver of any Default or Event of Default hereunder. The Primary Elevated Interest Rate is determined as follows:

(A) if the Company has rating of BBB or better by S&P or the equivalent rating by any other Rating Agency, then the Primary Elevated Interest Rate shall be an additional 50 basis points (0.50%);

(B) if the Company has rating of BBB- by S&P or the equivalent rating by any other Rating Agency, then the Primary Elevated Interest Rate shall be an additional 75 basis points (0.75%);

(C) if the Company has no rating or a rating of BB+ or worse by S&P or the equivalent rating by any other Rating Agency, then the Primary Elevated Interest Rate shall be 125 basis points (1.25%); and

(D) in the case where the Company has two ratings from two different Rating Agencies, the lowest such rating shall control and in the case where the Company has three ratings from three different Rating Agencies, then the second lowest rating shall control (even if that rating is equal to that of the first lowest).   

- 2 -

Stericycle, Inc.Fourth Amendment

 

provided that, for the avoidance of doubt, the MDL Leverage Increased Interest Rate and the Primary Elevated Interest Rate are not cumulative with each other and only the greater of such increase under Section 10.1(a)(ii) and (iii) shall apply at any given time; and further provided that that no such Increased Interest Rate will be used in calculating the Make-Whole Amount;”

	

	
Section 1.4.Additional Definitions.  Schedule B to the Note Purchase Agreement is hereby amended to insert the following definitions, each in its respective alphabetical order:

“Fourth Amendment” means the Fourth Amendment dated as of March 23, 2018 to this Agreement between the Company and the holders party thereto.

“Primary Elevated Interest Rate” has the meaning set forth in Section 10.1(a)(iii).

“Private Letter Rating” means a private letter rating from a Rating Agency which (a) is in the form and include descriptive elements required by the SVO from time to time (including (i) identifying the Notes by their Private Placement Number issued by Standard & Poor’s CUSIP Bureau Service and (ii) addressing the likelihood of payment of both principal and interest; provided that such requirement may be deemed satisfied if the rating is silent as to such likelihood and does not otherwise include an indication to the contrary), (b) does not include any prohibition on sharing such evidence with the SVO or any other regulatory authority having jurisdiction over the holders of Notes and (c) is delivered by the Company to the holders of Notes at least annually and promptly upon any change in such rating.

“Unadjusted Consolidated EBITDA” means, for any period, for the Company and its Subsidiaries on a consolidated basis, an amount equal to Consolidated Net Income for such period plus (a) the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest Charges for such period, (ii) the provision for federal, state, local and foreign income taxes payable by the Company and its Subsidiaries for such period, (iii) depreciation and amortization expense, (iv) other non-recurring expenses of the Company and its Subsidiaries reducing such Consolidated Net Income which do not represent a cash item in such period or any future period, (v) non-cash stock compensation expenses of the Company and its Subsidiaries incurred in such period, (vi) up to $45,000,000 in the aggregate of cash charges associated with the settlement of the TCPA Action, (vii) up to $295,000,000 in the aggregate of cash charges associated with the settlement of the MDL Contract Action, (viii) 

- 3 -

Stericycle, Inc.Fourth Amendment

 

up to $5,000,000 in the aggregate of cash charges related to legal fees and expenses associated with (x) the MDL Contract Action, (y) the First Amendment and (z) the corresponding amendments to the Bank Credit Agreement, the Term Loan Agreement and Other Note Agreements and (ix) as to any period, up to $10,000,000 in the aggregate of extraordinary and non-recurring cash expenses or charges in such period and minus (b) the following to the extent included in calculating such Consolidated Net Income: (i) federal, state, local and foreign income tax credits of the Company and its Subsidiaries for such period and (ii) all non-cash items increasing Consolidated Net Income for such period; provided, however, that Unadjusted Consolidated EBITDA shall be increased by the amount of Transaction Costs incurred during such period to the extent such amount was deducted in determining Consolidated Net Income for such period.  For purposes of calculating Unadjusted Consolidated EBITDA for any period of four consecutive quarters, if during such period the Company or any Subsidiary shall have made any Acquisition or disposed of any Person or of all or substantially all of the operating assets of any Person, Unadjusted Consolidated EBITDA for such period shall be calculated after giving pro forma effect thereto as if such transaction occurred on the first day of such period.

“Unadjusted Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a)(i) Consolidated Debt as of such date minus (ii) Unrestricted Cash as of such date to (b) Unadjusted Consolidated EBITDA for the period of the four consecutive fiscal quarters most recently ended on or prior to such date.

	

	
Section 1.5.Amended Definitions.  Schedule B to the Note Purchase Agreement is hereby amended by amending and restating each of the following definitions in its entirety to read as follows:

“Consolidated EBITDA” means, for any period, for the Company and its Subsidiaries on a consolidated basis, an amount equal to Consolidated Net Income for such period plus (a) the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest Charges for such period, (ii) the provision for federal, state, local and foreign income taxes payable by the Company and its Subsidiaries for such period, (iii) depreciation and amortization expense, (iv) other non-recurring expenses of the Company and its Subsidiaries reducing such Consolidated Net Income which do not represent a cash item in such period or any future period, (v) non-cash stock compensation expenses of the Company and its Subsidiaries incurred in such 

- 4 -

Stericycle, Inc.Fourth Amendment

 

period, (vi) up to $45,000,000 in the aggregate of cash charges associated with the settlement of the TCPA Action, (vii) up to $295,000,000 in the aggregate of cash charges associated with the settlement of the MDL Contract Action, (viii) up to $5,000,000 in the aggregate of cash charges related to legal fees and expenses associated with (x) the MDL Contract Action, (y) the First Amendment and (z) the corresponding amendments to the Bank Credit Agreement, the Term Loan Agreement and Other Note Agreements, (ix) as to any period, up to $10,000,000 in the aggregate of extraordinary and non-recurring cash expenses or charges in such period and (x) solely for purposes of determining compliance with Section 10.1 and Section 10.2 for any fiscal quarter ending during the period from March 31, 2018 through December 31, 2019 (and for no other purposes hereunder) up to $200,000,000 in the aggregate in any four-fiscal quarter period of cash charges associated with (A) implementation of the Company’s Business Transformation and Operational Optimization Expenses (each, as described in the Company’s Form 10-K for the fiscal year ended December 31, 2017), (B) internal control remediation, accounting pronouncements and related professional and consulting expenses, (C) legal and settlement related expenses and (D) up to $25,000,000 of other cash charges minus (b) the following to the extent included in calculating such Consolidated Net Income: (i) federal, state, local and foreign income tax credits of the Company and its Subsidiaries for such period and (ii) all non-cash items increasing Consolidated Net Income for such period; provided, however, that Consolidated EBITDA shall be increased by the amount of Transaction Costs incurred during such period to the extent such amount was deducted in determining Consolidated Net Income for such period.  For purposes of calculating Consolidated EBITDA for any period of four consecutive quarters, if during such period the Company or any Subsidiary shall have made any Acquisition or disposed of any Person or of all or substantially all of the operating assets of any Person, Consolidated EBITDA for such period shall be calculated after giving pro forma effect thereto as if such transaction occurred on the first day of such period.

“Increased Interest Rate” means the occurrence of a MDL Leverage Increased Interest Rate or a Primary Elevated Interest Rate, as applicable.

- 5 -

Stericycle, Inc.Fourth Amendment

 

	
Section 2.
	
Representations and Warranties of the Company.

	

	
Section 2.1.To induce the Noteholders to execute and deliver this Agreement, the Company represents and warrants (which representations shall survive the execution and delivery of this Agreement) to the Noteholders that:

	
 
	

	
(a)this Agreement has been duly authorized, executed and delivered by the Company and, upon execution and delivery thereof by the parties hereto, this Agreement constitutes the legal, valid and binding obligation, contract and agreement of the Company enforceable against it in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws or equitable principles relating to or limiting creditors’ rights generally;

	
 
	

	
(b)the Note Purchase Agreement, as amended by this Agreement, constitutes the legal, valid and binding obligation, contract and agreement of the Company enforceable against it in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws or equitable principles relating to or limiting creditors’ rights generally;

	
 
	

	
(c)the execution, delivery and performance by the Company of this Agreement (i) has been duly authorized by all requisite corporate actions on the part of the Company, (ii) does not require the consent or approval of any governmental or regulatory body or agency, and (iii) will not (A) violate (1) any provision of law, statute, rule or regulation applicable to the Company or its certificate of incorporation or bylaws, (2) any order of any court or any rule, regulation or order of any other agency or government binding upon it, or (3) any provision of any material indenture, agreement or other instrument to which it is a party or by which its properties or assets are or may be bound, or (B) result in a breach or constitute (alone or with due notice or lapse of time or both) a default under any indenture, agreement or other instrument referred to in clause (iii)(A)(3) of this Section 2.1(c);

	
 
	

	
(d)as of the date hereof and after giving effect to this Agreement, no Default or Event of Default has occurred which is continuing; and

	
 
	

	
(e)the representations and warranties contained in Section 5 of the Note Purchase Agreement are true and correct in all material respects with the same force and effect as if made by the Company on and as of the date hereof, except to the extent that any such representation or warranty expressly relates to an earlier date.

	
Section 3.
	
Conditions to Effectiveness of Amendments and Waivers.

	

	
Section 3.1.The amendments to the Note Purchase Agreement set forth herein shall not become effective until, and shall become effective when (the “Effective Date”), each of the following conditions shall have been satisfied:

- 6 -

Stericycle, Inc.Fourth Amendment

 

	
 
	

	
(a)executed counterparts of this Agreement, duly executed by the Company and the holders of 51% in principal amount of the outstanding Notes, shall have been delivered to the Noteholders;

	
 
	

	
(b)the representations and warranties of the Company set forth in Section 2 hereof shall be true and correct on and with respect to the date hereof, and the execution and delivery by the Company of this Agreement shall constitute certification by the Company of the same;

	
 
	

	
(c)the Company shall have paid a fee to each holder of Notes equal to five basis points (.05%) on the outstanding principal amount of Notes held by each such holder of a Note as of the Effective Date;

	
 
	

	
(d)the Company shall have paid the fees and expenses of Chapman and Cutler LLP, special counsel to the Noteholders, incurred in connection with the negotiation, preparation, approval, execution and delivery of this Agreement for which an invoice has been provided; 

	
 
	

	
(e)the Company shall have delivered copies of an amendment to each of the Bank Credit Agreement amending such agreements in substance consistent with the amendments to the Note Purchase Agreement as contemplated by this Agreement; and

	
 
	

	
(f)the Company shall have delivered copies of an amendment to each of the Other Note Agreements (as defined in the Note Purchase Agreement after giving effect to this Agreement) between the Company and the purchasers named therein, each amending such agreements in substance consistent with the amendments to the Note Purchase Agreement as contemplated by this Agreement.

Upon receipt and satisfaction of all of the foregoing, such amendments shall become effective.

	
Section 4.
	
Miscellaneous.

	

	
Section 4.1.This Agreement shall be construed in connection with and as part of the Note Purchase Agreement, and except as modified and expressly amended by this Agreement, all terms, conditions and covenants contained in the Note Purchase Agreement are hereby ratified and confirmed and shall be and remain in full force and effect.

	

	
Section 4.2.Any and all notices, requests, certificates and other instruments, including the Notes, may refer to the “Note Purchase Agreement” or the “Note Purchase Agreement dated as of April 30, 2015” without making specific reference to this Agreement, but nevertheless all such references shall be deemed to include this Agreement unless the context shall otherwise require.

	

	
Section 4.3.The descriptive headings of the various Sections or parts of this Agreement are for convenience only and shall not affect the meaning or construction of any of the provisions hereof.

- 7 -

Stericycle, Inc.Fourth Amendment

 

	

	
Section 4.4.This Agreement shall be governed by and construed in accordance with New York law excluding choice‐of‐law principles of the law of New York that would require the application of the laws of jurisdiction other than New York.

	

	
Section 4.5.This Agreement may be executed in any number of counterparts, each executed counterpart constituting an original, but all together only one agreement.  This Agreement, together with the Note Purchase Agreement (as amended hereby) and the Notes, constitutes the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.  Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Agreement.

 

 

- 8 -

 

 

In Witness Whereof, the parties hereto have executed this Agreement as of the Effective Date.

 

Stericycle, Inc.

 

 

	
 
	
By
	
 /s/ Daniel Ginnetti

	
 
	

	
Name: Daniel Ginnetti

	
 
	

	
Title: Executive Vice President and Chief 

                Financial Officer

 

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

 

 

Accepted and Agreed to:

 

New York Life Insurance Company

 

 

By /s/ Clara Fagan

	
 
	

	
Name: Clara Fagan

	
 
	

	
Title: Corporate Vice President

 

 

New York Life Insurance and Annuity Corporation

 

	
 
	
By:
	
NYL Investors LLC, its Investment Manager

 

	
 
	

	
By /s/ Clara Fagan

	
 
	

	
    Name: Clara Fagan

	
 
	

	
    Title: Director

 

 

New York Life Insurance and Annuity Corporation Institutionally Owned Life Insurance Separate Account (BOLI 3-2)

 

	
 
	
By:
	
NYL Investors LLC, its Investment Manager

 

	
 
	

	
   By /s/ Clara Fagan

	
 
	

	
        Name: Clara Fagan

	
 
	

	
        Title: Director

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

 

Accepted and Agreed to:

 

The Northwestern Mutual Life Insurance Company

 

By Northwestern Mutual Investment Management Company, LLC, its investment adviser

 

 

By /s/ Michael H. Leske

	
 
	

	
Name: Michael H. Leske

	
 
	

	
Title: Managing Director

 

 

The Northwestern Mutual Life Insurance Company for its Group Annuity Separate Account

 

 

By /s/ Michael H. Leske

	
 
	

	
Name: Michael H. Leske

	
 
	

	
Title: Its Authorized Representative

 

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

 

Accepted and Agreed to:

 

State Farm Life Insurance Company

 

 

By /s/ Julie Hoyer

	
 
	

	
Name: Julie Hoyer

	
 
	

	
Title: Investment Executive

 

 

By /s/ Rebekah L. Holt

	
 
	

	
Name: Rebekah L. Holt

	
 
	

	
Title: Investment Professional

 

 

State Farm Life and Accident Assurance Company

 

 

By /s/ Julie Hoyer

	
 
	

	
Name: Julie Hoyer

	
 
	

	
Title: Investment Executive

 

 

By /s/ Rebekah L. Holt

	
 
	

	
Name: Rebekah L. Holt

	
 
	

	
Title: Investment Professional

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

 

Accepted and Agreed to:

 

Thrivent Financial for Lutherans

 

 

 

By /s/ Christopher Patton

	
 
	

	
Name:  Christopher Patton

	
 
	

	
Title:  Managing Director

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

 

Accepted and Agreed to:

 

Great‐West Life & Annuity Insurance Company

 

 

By /s/ Eve Hampton Darrow

	
 
	

	
Name: Eve Hampton Darrow

	
 
	

	
Title: Vice President, Investments 

 

 

By /s/ Ward Argust

	
 
	

	
Name: Ward Argust

	
 
	

	
Title: Assistant Vice President, Investments

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

 

Accepted and Agreed to:

 

The Guardian Life Insurance Company of America

 

 

 

By /s/ Amy Carroll

	
 
	

	
Name: Amy Carroll

	
 
	

	
Title: Senior Director

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

 

Accepted and Agreed to:

 

Metropolitan Life Insurance Company

 

General American Life Insurance Company

	
 
	
by
	
Metropolitan Life Insurance Company, its Investment Manager

 

 

By /s/ John A. Wills

	
 
	

	
Name: John A. Wills

	
 
	

	
Title: Senior Vice President and Managing 

             Director

 

 

MetLife Insurance K.K.

 by MetLife Investment Advisors, LLC, Its Investment Manager

 

 

 

By /s/ C. Scott Inglis

	
 
	

	
Name: C. Scott Inglis

	
 
	

	
Title: Senior Vice President and Managing 

              Director

 

 

Brighthouse Life Insurance Company

 by MetLife Investment Advisors, LLC, Its Investment Manager

 

Brighthouse Life Insurance Company of NY

 by MetLife Investment Advisors, LLC, Its Investment Manager

 

 

By /s/ Judith A. Gulotta

	
 
	

	
Name: Judith A. Gulotta

	
 
	

	
Title: Managing Director

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

 

Accepted and Agreed to:

 

Nationwide Life Insurance Company

 

 

 

	
 
	
By
	
 /s/ Cristian I. Donoso

	
 
	

	
Name: Cristian I. Donoso

	
 
	

	
Title: Authorized Signatory

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

 

Accepted and Agreed to:

 

RiverSource Life Insurance Company

 

 

 

By: /s/ Thomas W. Murphy

	
 
	

	
Name: Thomas W. Murphy

	
 
	

	
Title: Vice President - Investments

 

 

RiverSource Life Insurance Co. of New York

 

 

By: /s/ Thomas W. Murphy

	
 
	

	
Name: Thomas W. Murphy

	
 
	

	
Title: Vice President - Investments

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

 

Accepted and Agreed to:

 

State of Wisconsin Investment Board

 

 

 

By  /s/ Christopher P. Prestigiacomo

	
 
	

	
Name:  Christopher P. Prestigiacomo

	
 
	

	
Title:    Portfolio Manager

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

 

Accepted and Agreed to:

 

Catholic Financial Life

Guideone Mutual Insurance Company

Guideone Property & Casualty Insurance Company

 

By:  Advantus Capital Management, Inc.

 

 

By: /s/ Thomas B. Houghton

	
 
	

	
Name: Thomas B. Houghton

	
 
	

	
Title: Vice President

 

 

 

 

 

Stericycle, Inc.Fourth Amendment to 

2015 Note Purchase Agreement

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