Document:

Exhibit 10.13

Exhibit 10.13

FORM OF UNSECURED CONVERTIBLE PROMISSORY NOTE

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR ANY STATE SECURITIES LAWS OR BLUE SKY LAWS. SUCH SECURITIES MAY NOT BE SOLD, OFFERED
FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS, OR
AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO IRVINE SENSORS CORPORATION THAT SUCH REGISTRATION
IS NOT REQUIRED.

UNSECURED CONVERTIBLE PROMISSORY NOTE

PN - _____ 

			
	 	 	 
	[$_____]
	 	October
 _____, 2010

[Executed in Costa Mesa, California (and                     ,                     )]

FOR VALUE RECEIVED, IRVINE SENSORS CORPORATION, a Delaware Corporation (“Borrower” or
“Company”), hereby promises to pay to the order of [____________________], an individual
with an address at
 ________________________________ 
[or
 ___________________________ a [_________ 

Corporation] (“Payee”), in lawful money of the United States of America and immediately available
funds, the principal sum of [_______________________ 
dollars ($___________)] (the “Loan”) together
with accrued and unpaid interest thereon, each due and payable on the dates, in the manner and
subject to the terms set forth below. This Note is part of an offering of up to $3,000,000 in
principal balance being made by the Borrower (the “Offering”) and the other purchasers of notes in
such Offering are referred to as the “Other Payees” and all the notes issued in such Offering,
including this Note, are referred to collectively as the “Notes”.

1. Principal Repayment. Unless sooner paid or converted in accordance with the terms hereof,
the outstanding principal amount of the Loan and all unpaid accrued interest shall be due and
payable on May 31, 2011 (the “Maturity Date”). The unpaid principal balance of this Note may be
prepaid in whole or in part at any time without premium or penalty.

2. Interest Rate. Borrower further promises to pay interest on the principal amount
outstanding from time to time from the date hereof until payment in full, which interest shall be
payable at the rate of ten percent (10.0%) per annum. Accrued and unpaid interest shall be due and
payable on the Maturity Date, and shall be calculated on the simple interest basis of a 365-day
year for the actual number of days elapsed.

3. Place of Payment. All amounts payable hereunder shall be payable at the office of Payee
unless another place of payment shall be specified in writing by Payee.

4. Application of Payments. Payment on this Note shall be applied first to accrued and unpaid
interest, and thereafter to the outstanding principal balance hereof.

5. Equity Consideration. As consideration for making the Loan, the Company shall issue shares
of its Common Stock to Payee with a value equal to 25% of the principal amount of the Note, based
on the greater of (i) the fair market value of the Company’s Common Stock (as determined by the
last closing sales price of the Company’s Common Stock as reported by the Over-the-Counter Bulletin
Board prior to the date of issuance of the Note) (the “Market Value”), and (ii) $0.13 per share,
but not greater than $0.14 per share (the “Initial Valuation”) (the “Shares”). The Shares will be
issued to Payee upon the earlier of (i) the closing of a private placement to be conducted by William Blair & Company with gross proceeds realized by the
Company of at least $8.0 million (the “Blair Financing”) and (ii) seven months following the
issuance date of the Note or as soon as practicable thereafter as permitted by law or regulation.
Pending such issuance, the Company will reserve the appropriate number of shares of its Common
Stock to permit the issuance of the Shares.

 

 

 

6. Conversion or Repayment Upon Maturity. In the event that any principal and accrued but
unpaid interest under this Note remains outstanding on the Maturity Date, then all outstanding
principal and accrued but unpaid interest under this Note shall, at the option of Payee, either (a)
become immediately due and payable on such date, or (b) convert on such date into shares of the
Borrower’s Common Stock at a conversion price equal to $0.13 per share (provided, however, that the
Borrower has a sufficient number of authorized shares of common stock to allow such conversion at
such time, and that Payee is an “accredited investor” at the time of such conversion as such term
is defined in Rule 501 under the Securities Act of 1933, as amended). No fractional shares of
capital stock shall be issued upon conversion of this Note. In lieu of any fractional share to
which Payee would otherwise be entitled, the Borrower shall pay to Payee the amount of outstanding
principal and unpaid accrued interest balance that is not so converted, such payment to be in cash
or by check.

7. Conversion Upon Closing of Blair Financing.

7.1 Conversion into Blair Financing Securities. In the event that the Borrower, at any
time after the date of issuance of this Note and prior to the payment or conversion in full of this
Note pursuant to Sections 1 and 6 hereof, shall close the Blair Financing, then the Payee shall
have the right to convert the outstanding principal amount and unpaid accrued interest of this Note
into the securities issued in the Blair Financing on the same terms and conditions of the Blair
Financing, (provided, however, that Payee is an “accredited investor” at the time of such exchange
as such term is defined in Rule 501 under the Securities Act of 1933, as amended; and provided,
further, that Payee enters into and executes the same documents, satisfies the same conditions and
agrees to be bound by the same terms as all other investors in the Blair Financing). No fractional
shares of capital stock shall be issued upon conversion of this Note. In lieu of any fractional
share to which Payee would otherwise be entitled, the Borrower shall pay to Payee the amount of
outstanding principal and unpaid accrued interest balance that is not so converted, such payment to
be in cash or by check.

7.2 Ancillary Agreements. In connection with conversion of this Note upon the closing
of the Blair Financing pursuant to Section 7.1 of this Note, Payee agrees to execute and deliver to
the Borrower any documents reasonably requested by the Borrower to be executed by Payee, including
without limitation, a stock purchase agreement and any other agreements or documents reasonably
required to be executed by the investors in the Blair Financings, thereby agreeing to be bound by
all obligations and receive all rights thereunder. If the Borrower is unable to obtain Payee’s
signature on any such document within three (3) business days of delivery thereof to Payee, whether
due to any cause, then by the acceptance of this Note and election by Payee to convert the Note
into the securities issued in the Blair Financing, Payee hereby irrevocably designates and appoints
the Borrower and each of its duly authorized officers and agents as Payee’s agent and
attorney-in-fact, to act for and on its behalf and stead, to execute and deliver any such document
with the same force and effect as if executed and delivered by Payee.

8. Default. This Note and all amounts due hereunder shall become immediately due and payable
in cash, upon written notice and demand by Payee, upon the occurrence of any of the following
events of default:

i. the termination of existence of Company, whether by dissolution or otherwise, or the
appointment of a receiver or custodian for the Company or any part of its property if such
appointment is not terminated or dismissed within thirty (30) days;

ii. the institution against Company of any proceedings under the United States Bankruptcy Code
or any other federal or state bankruptcy, reorganization, receivership or other similar law
affecting the rights of creditors generally, which proceeding is not dismissed within sixty (60)
days of filing;

 

Page 2

 

iii. the commencement by Company of any voluntary proceedings under the United States
Bankruptcy Code or any other federal or state bankruptcy, reorganization, receivership or other
similar law affecting the rights of creditors generally; or

iv. an assignment by Company for the benefit of its creditors or an admission in writing by
the Company of its inability to pay its debts as they become due.

9. Waiver. Borrower waives presentment and demand for payment, notice of dishonor, protest and
notice of protest of this Note, and shall pay all costs of collection when incurred, including,
without limitation, reasonable attorneys’ fees, costs and other expenses. The right to plead any
and all statutes of limitations as a defense to any demands hereunder is hereby waived to the full
extent permitted by law. Neither this Note nor any term hereof may be waived, amended, discharged,
modified, changed, or terminated orally, nor shall any waiver of any provision hereof be effective
except by an instrument in writing signed by Borrower and Payee.

10. Governing Law. This Note shall be governed by, and construed and enforced in accordance
with, the laws of the State of California, excluding conflict of laws principles that would cause
the application of laws of any other jurisdiction.

11. Successors and Assigns. The provisions of this Note shall inure to the benefit of and be
binding on any successor to Borrower and shall extend to any holder hereof.

12. Counterparts. This Note may be executed in two or more counterparts, each of which shall
be deemed an original, but all of which together shall constitute one and the same instrument, and
may be delivered by facsimile.

[Signatures appear on the following page.]

 

Page 3

 

IN WITNESS WHEREOF, Company has caused this instrument to be duly executed as of the date
first set forth above.

	 	 	 	 	 	 	 	 	 
	 	 	COMPANY:

IRVINE SENSORS CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	John J. Stuart, Jr.	 	 
	 

	 	 	 	Title:
	 	Chief Financial Officer	 	 
	 

	 	 	 	Address:
	 	3001 Red Hill Ave.	 	 
	 

	 	 	 	 	 	Costa Mesa, CA 92626	 	 
	 

	 	 	 	Fax No.:
	 	714-444-8773	 	 

ACKNOWLEDGED AND AGREED:

	 	 	 
	PAYEE:

	 	Acknowledgement contained in
the 
Omnibus Signature Page in
the 
Subscription Agreement

	 	 	 
	 

	 	 
	 
	 	 
	Name:
	 	 

[Signature Page — Unsecured Convertible Promissory Note]

 

Page 4exv10w1

Exhibit 10.1

SECOND AMENDMENT TO CREDIT AGREEMENT

     This Second Amendment to Credit Agreement is dated December 22, 2010, by and among ATI Funding
Corporation, a Delaware corporation (“ATI Funding”), TDY Holdings, LLC, a Delaware limited
liability company (“TDYH”) (ATI Funding and TDYH are each, a “Borrower” and collectively, the
“Borrowers”), the Guarantors (as defined in the Credit Agreement (as hereinafter defined)) party
hereto, the Lenders (as hereinafter defined) party hereto and PNC Bank, National Association (“PNC
Bank”) as administrative agent for the Lenders (in such capacity, the “Administrative Agent”) (the
“Second Amendment”).

W I T N E S S E T H:

     WHEREAS, the Borrowers, the Guarantors, PNC Bank and various other financial institutions
party thereto (PNC Bank and such other financial institutions are each, a “Lender” and
collectively, the “Lenders”) and the Administrative Agent entered into that certain Credit
Agreement, dated July 31, 2007, as amended by First Amendment to Credit Agreement, dated May 29,
2009, among the Borrowers, the Guarantors, the Lenders and the Administrative Agent (as further
amended, restated, modified or supplemented from time to time, the “Credit Agreement”); and

     WHEREAS, the Borrowers and the Guarantors desire to amend certain provisions of the Credit
Agreement and the Lenders and the Administrative Agent shall permit such amendments pursuant to the
terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the premises contained herein and other valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be
legally bound hereby, the parties hereto agree as follows:

     1. All capitalized terms used herein that are defined in the Credit Agreement shall have the
same meaning herein as in the Credit Agreement unless the context clearly indicates otherwise.

     2. Section 1.1 of the Credit Agreement is hereby amended by restating the following
definitions in their entirety as set forth below:

     Expiration Date shall mean, with respect to the
Revolving Credit Commitments, December 22, 2015.

     3. Schedule 1.1(A) to the Credit Agreement is hereby amended by deleting the reference to
“200.0” contained in Level IV below the heading “Revolving Credit Base Rate Spread” and replacing
the same with the following reference: “125.0”.

     4. The provisions of Sections 2 and 3 of this Second Amendment shall not become effective
until the Administrative Agent has received the following items, each in form and substance
acceptable to the Administrative Agent and its counsel:

 

 

     (a) this Second Amendment, duly executed by each of the Loan
Parties and the each of the Lenders;

     (b) the documents listed in the Preliminary Closing Agenda set
forth on Exhibit A attached hereto and made a part hereof
and evidence reasonably satisfactory to the Administrative Agent
that all conditions set forth in such Preliminary Closing Agenda
have been satisfied;

     (c) payment of all fees and expenses owed to the Lenders, the
Administrative Agent, and the Administrative Agent’s counsel in
connection with this Second Amendment; and

     (d) such other documents as may be reasonably requested by the
Administrative Agent.

     5. Each Loan Party hereby reconfirms and reaffirms all representations and warranties,
agreements and covenants made by it pursuant to the terms and conditions of the Credit Agreement,
except as such representations and warranties, agreements and covenants may have heretofore been
amended, modified or waived in writing in accordance with the Credit Agreement.

     6. Each Loan Party acknowledges and agrees that each and every document, instrument or
agreement, which at any time has secured the Obligations including, without limitation, the
Guaranty Agreements, hereby continues to secure the Obligations.

     7. Each Loan Party hereby represents and warrants to the Lenders and the Administrative Agent
that (i) such Loan Party has the legal power and authority to execute and deliver this Second
Amendment, (ii) the officers of such Loan Party executing this Second Amendment have been duly
authorized to execute and deliver the same and bind such Loan Party with respect to the provisions
hereof, (iii) the execution and delivery hereof by such Loan Party and the performance and
observance by such Loan Party of the provisions hereof and of the Credit Agreement and all
documents executed or to be executed in connection herewith or therewith, do not violate or
conflict with the organizational agreements of such Loan Party or any law applicable to such Loan
Party or result in a breach of any provision of or constitute a default under any other agreement,
instrument or document binding upon or enforceable against such Loan Party, and (iv) this Second
Amendment, the Credit Agreement and the documents executed or to be executed by such Loan Party in
connection herewith or therewith constitute valid and binding obligations of such Loan Party in
every respect, enforceable in accordance with their respective terms.

     8. Each Loan Party represents and warrants that (i) no Event of Default exists under the
Credit Agreement, nor will any occur as a result of the execution and delivery of this Second
Amendment or the performance or observance of any provision hereof, (ii) the schedules attached to
and made a part of the Credit Agreement, are true and correct in all material respects as of the
date hereof, except as such schedules may have heretofore been amended or modified or updated in
writing in accordance with the Credit Agreement, and (iii) it presently has no

- 2 -

 

known claims or actions of any kind at law or in equity against any Lender or the
Administrative Agent arising out of or in any way relating to the Credit Agreement or the other
Loan Documents.

     9. Each reference to the Credit Agreement that is made in the Credit Agreement or any other
document executed or to be executed in connection therewith shall hereafter be construed as a
reference to the Credit Agreement as amended hereby.

     10. The agreements contained in this Second Amendment are limited to the specific agreements
made herein. Except as amended hereby, all of the terms and conditions of the Credit Agreement
and the other Loan Documents shall remain in full force and effect. This Second Amendment amends
the Credit Agreement and is not a novation thereof.

     11. This Second Amendment may be executed in any number of counterparts and by the different
parties hereto on separate counterparts each of which, when so executed, shall be deemed to be an
original, but all such counterparts shall constitute but one and the same instrument.

     12. This Second Amendment shall be governed by, and shall be construed and enforced in
accordance with, the Laws of the Commonwealth of Pennsylvania without regard to the principles of
the conflicts of law thereof. Each Loan Party hereby consents to the jurisdiction and venue of
the Court of Common Pleas of Allegheny County, Pennsylvania and the United States District Court
for the Western District of Pennsylvania with respect to any suit arising out of or mentioning
this Second Amendment.

[INTENTIONALLY LEFT BLANK]

- 3 -

 

     IN WITNESS WHEREOF, and intending to be legally bound, the parties hereto have caused this
Second Amendment to be duly executed by their duly authorized officers the day and year first above
written.

	 	 	 	 	 	 	 	 	 

	 	 	 	 	BORROWERS:	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	ATI FUNDING CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	TDY HOLDINGS, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	GUARANTORS:	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	ALLEGHENY TECHNOLOGIES INCORPORATED	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	OREGON METALLURGICAL CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	ALLEGHENY LUDLUM CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 

 

 

	 	 	 	 	 	 	 	 	 

	WITNESS:	 	 	 	ATI PROPERTIES, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Patrick J. Viccaro	 	 
	 

	 	 	 	Name:
	 	 

Patrick J. Viccaro
	 	 
	 

	 	 	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	TDY INDUSTRIES, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	ALC FUNDING CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	JEWEL ACQUISITION, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	JESSOP STEEL, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 

 

 

	 	 	 	 	 	 	 	 	 

	WITNESS:	 	 	 	INTERNATIONAL HEARTH MELTING, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	OREGON METALLURGICAL CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	ATI PRECISION FINISHING, LLC
(formerly known as “ROME METALS, LLC”)	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	TI OREGON, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	TITANIUM WIRE CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	ATI CANADA HOLDINGS, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 

 

 

	 	 	 	 	 	 	 	 	 

	WITNESS:	 	 	 	ALLEGHENY TECHNOLOGIES INTERNATIONAL, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	AII INVESTMENT CORP.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	ENVIRONMENTAL, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	AII ACQUISITION, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	WITNESS:	 	 	 	ATI TITANIUM LLC	 	 
	 
	 	 	 	 	 	 	 	 
	/s/ M. P. Earnest

	 	 	 	By:
	 	/s/ Dale G. Reid	 	 
	 

	 	 	 	Name:
	 	 

Dale G. Reid
	 	 
	 

	 	 	 	Title:
	 	Senior Vice President	 	 

 

 

	 	 	 	 	 	 	 

	 	 	AGENTS AND LENDERS:	 	 
	 
	 	 	 	 	 	 
	 	 	PNC BANK, NATIONAL ASSOCIATION,
as a Lender and as Administrative Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Susan J. Dimmick	 	 
	 

	 	Name:
	 	 

Susan J. Dimmick
	 	 
	 

	 	Title:
	 	Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	CITIBANK, N.A., as a Lender and
as Co-Syndication Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Raymond G. Dunning	 	 
	 

	 	Name:
	 	 

Raymond G. Dunning
	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A., as a
Lender and as 

Co-Syndication Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Kevin Chichester	 	 
	 

	 	Name:
	 	 

Kevin Chichester
	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	BANK OF AMERICA N.A., for itself,
as a Lender and as 

Co-Documentation Agent, and as
successor by merger to LASALLE BANK
NATIONAL ASSOCIATION, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ W. Thomas Barnett	 	 
	 

	 	Name:
	 	 

W. Thomas Barnett
	 	 
	 

	 	Title:
	 	Senior Vice-President	 	 

 

 

	 	 	 	 	 	 	 

	 	 	BANK OF TOKYO-MITSUBISHI UFJ TRUST COMPANY,
as a Lender and as
Co-Documentation Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Joanne Nasuti	 	 
	 

	 	Name:
	 	 

Joanne Nasuti
	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	CREDIT SUISSE, CAYMAN ISLANDS BRANCH,
as a Lender and as a
Co-Managing Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Alain Daoust	 	 
	 

	 	Name:
	 	 

Alain Daoust
	 	 
	 

	 	Title:
	 	Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Rahul Parmar	 	 
	 

	 	Name:
	 	 

Rahul Parmar
	 	 
	 

	 	Title:
	 	Associate	 	 
	 
	 	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
as a Lender and as
Co-Managing Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Christopher L. Querns	 	 
	 

	 	Name:
	 	 

Christopher L. Querns
	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK, as a
Lender and as Co-Managing Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ William M. Feathers	 	 
	 

	 	Name:
	 	 

William M. Feathers
	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 

	 	 	MORGAN STANLEY BANK, as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Sherrese Clarke	 	 
	 

	 	Name:
	 	 

Sherrese Clarke
	 	 
	 

	 	Title:
	 	Authorized Signatory	 	 
	 
	 	 	 	 	 	 
	 	 	HSBC BANK USA, NATIONAL ASSOCIATION,

as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Frank M. Eassa	 	 
	 

	 	Name:
	 	 

Frank M. Eassa
	 	 
	 

	 	Title:
	 	Assistant Vice President	 	 

 

 

EXHIBIT A

PRELIMINARY CLOSING AGENDA

     This preliminary closing agenda contains the documents to be delivered in connection with a
second amendment to the credit facility provided to ATI Funding Corporation, a Delaware corporation
(“ATI Funding”), and TDY Holdings, LLC, a Delaware limited liability company (“TDYH”) (ATI Funding
and TDYH are each, a “Borrower” and collectively, the “Borrowers”), by PNC Bank, National
Association (“PNC Bank”), and various other financial institutions from time to time (PNC Bank and
such other financial institutions are each, a “Lender” and collectively, the “Lenders”), PNC Bank,
as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), and PNC
Capital Markets LLC, a Pennsylvania limited liability company, as lead arranger (the “Lead
Arranger”) (the “Credit Facility”).

	 	 	 	 	 	 	 
	 	 	 	 	Responsible	 	 
	No.	 	LOAN DOCUMENTS	 	Party	 	Status
	1.

	 	Second Amendment to Credit Agreement (the “Credit
Agreement”), by and among the Borrowers, Oregon
Metallurgical Corporation, an Oregon corporation
(“Oremet”), Allegheny Ludlum Corporation, a
Pennsylvania corporation (“ALC”), ATI Properties,
Inc., a Delaware corporation (“ATIP”), TDY Industries,
Inc., a California corporation (“TDY”), ALC Funding
Corporation, a Delaware corporation (“ALC Funding”),
Jessop Steel, LLC, a Pennsylvania limited liability
company (“Jessop LLC”), Jewel Acquisition, LLC, a
Delaware limited liability company (“Jewel”),
Allegheny Technologies Incorporated, a Delaware
corporation (“ATI”), International Hearth Melting,
LLC, an Oregon limited liability company (“IHM”), ATI
Precision Finishing, LLC (formerly known as “Rome
Metals, LLC”), a Pennsylvania limited liability
company (“ATI Precision”), TI Oregon, Inc., an Oregon
corporation (“TIO”), Titanium Wire Corporation, a
Pennsylvania corporation (“Titanium Wire”), ATI Canada
Holdings, Inc., a Delaware corporation (“ATICH”),
Allegheny Technologies International, Inc., a
California corporation (“ATII”), AII Investment Corp.,
a Delaware corporation (“AIC”), Environmental, Inc., a
California corporation (“EI”), AII Acquisition, LLC, a
Pennsylvania limited liability company (“AII LLC”),
ATI Titanium LLC, a Delaware limited liability company
(“ATIT”) (Oremet, ALC, ATIP, TDY, ALC Funding, Jessop
LLC, Jewel, ATI, IHM, ATI Precision, TIO, Titanium
Wire, ATICH, ATII, AIC, EI, AII LLC and ATIT are each,
a “Guarantor” and collectively, the “Guarantors”) (the
Borrowers and the Guarantors are each, a “Loan Party”
and collectively, the “Loan Parties”), the Lenders and
the Administrative Agent (the “Second Amendment”).
	 	Administrative Agent
	 	Complete

 

 

	 	 	 	 	 	 	 
	 	 	 	 	Responsible	 	 
	No.	 	LOAN DOCUMENTS	 	Party	 	Status
	 

	 	ORGANIZATIONAL DOCUMENTS	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	ATI Funding	 	 	 	 
	 
	 	 	 	 	 	 
	2.

	 	Certificate of Assistant Secretary of ATI Funding as
to (i) resolutions of its Board of Directors
authorizing ATI Funding to enter into the Second
Amendment and all related documents, (ii) incumbency,
and (iii) no amendments to its Certificate of
Incorporation or By-Laws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	3.

	 	Good Standing Certificate of ATI Funding from the
Secretary of State of the State of Delaware.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	TDYH	 	 	 	 
	 
	 	 	 	 	 	 
	4.

	 	Certificate of an Officer/Manager of TDYH as to (i)
resolutions of its Managers/Members authorizing TDYH
to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Certificate of Formation or Limited Liability
Company Agreement.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	5.

	 	Good Standing Certificate of TDYH from the Secretary
of State of the State of Delaware.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	Oremet	 	 	 	 
	 
	 	 	 	 	 	 
	6.

	 	Certificate of Assistant Secretary of Oremet as to (i)
resolutions of its Board of Directors authorizing
Oremet to enter into the Second Amendment and all
related documents, (ii) incumbency, and (iii) no
amendments to its Articles of Incorporation or Bylaws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	7.

	 	Good Standing Certificate of Oremet from the Secretary
of State of the State of Oregon.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	ALC	 	 	 	 
	 
	 	 	 	 	 	 
	8.

	 	Certificate of Assistant Secretary of ALC as to (i)
resolutions of its Board of Directors authorizing ALC
to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Certificate of Incorporation or Bylaws.
	 	Borrowers	 	 
	 
	9.

	 	Good Standing Certificate of ALC from the Secretary of
State of the Commonwealth of Pennsylvania.
	 	Borrowers
	 	Complete

- 2 -

 

	 	 	 	 	 	 	 
	 	 	 	 	Responsible	 	 
	No.	 	LOAN DOCUMENTS	 	Party	 	Status
	 

	 	ATIP	 	 	 	 
	 
	 	 	 	 	 	 
	10.

	 	Certificate of Assistant Secretary of ATIP as to (i)
resolutions of its Board of Directors authorizing ATIP
to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Certificate of Incorporation or Bylaws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	11.

	 	Good Standing Certificate of ATIP from the Secretary
of State of the State of Delaware.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	TDY	 	 	 	 
	 
	 	 	 	 	 	 
	12.

	 	Certificate of Assistant Secretary of TDY as to (i)
resolutions of its Board of Directors authorizing TDY
to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Articles of Incorporation or Bylaws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	13.

	 	Good Standing Certificate of TDY from the Secretary of
State of the State of California.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	ALC Funding	 	 	 	 
	 
	 	 	 	 	 	 
	14.

	 	Certificate of Assistant Secretary of ALC Funding as
to (i) resolutions of its Board of Directors
authorizing ALC Funding to enter into the Second
Amendment and all related documents, (ii) incumbency,
and (iii) no amendments to its Certificate of
Incorporation or Bylaws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	15.

	 	Good Standing Certificate of ALC Funding from the
Secretary of State of the State of Delaware.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	Jewel	 	 	 	 
	 
	 	 	 	 	 	 
	16.

	 	Certificate of an Officer/Manager of Jewel as to (i)
resolutions of its Managers/Members authorizing Jewel
to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Certificate of Formation or Limited Liability
Company Agreement.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	17.

	 	Good Standing Certificate of Jewel from the Secretary
of State of the State of Delaware.
	 	Borrowers
	 	Complete

- 3 -

 

	 	 	 	 	 	 	 
	 	 	 	 	Responsible	 	 
	No.	 	LOAN DOCUMENTS	 	Party	 	Status
	 

	 	ATI	 	 	 	 
	 
	 	 	 	 	 	 
	18.

	 	Certificate of Assistant Secretary of ATI as to (i)
resolutions of its Board of Directors authorizing ATI
to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Certificate of Incorporation or Bylaws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	19.

	 	Good Standing Certificate of ATI from the Secretary of
State of the State of Delaware.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	Jessop LLC	 	 	 	 
	 
	 	 	 	 	 	 
	20.

	 	Certificate of an Officer/Manager of Jessop LLC as to
(i) resolutions of its Managers/Members authorizing
Jessop LLC to enter into the Second Amendment and all
related documents, (ii) incumbency, and (iii) no
amendments to its Certificate of Formation or Limited
Liability Company Agreement.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	21.

	 	Good Standing Certificate of Jessop LLC from the
Secretary of State of the Commonwealth of
Pennsylvania.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	IHM	 	 	 	 
	 
	 	 	 	 	 	 
	22.

	 	Certificate of an Officer/Manager of IHM as to (i)
resolutions of its Managers/Members authorizing IHM to
enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Articles of Organization or Operating Agreement.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	23.

	 	Good Standing Certificate of IHM from the Secretary of
State of the State of Oregon.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	ATI Precision	 	 	 	 
	 
	 	 	 	 	 	 
	24.

	 	Certificate of an Officer/Manager of ATI Precision as
to (i) resolutions of its Managers/Members authorizing
ATI Precision to enter into the Second Amendment and
all related documents, (ii) incumbency, and (iii) no
amendments to its Certificate of Formation and
Operating Agreement.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	25.

	 	Good Standing Certificate of ATI Precision from the
Secretary of State of the Commonwealth of
Pennsylvania.
	 	Borrowers
	 	Complete

- 4 -

 

	 	 	 	 	 	 	 
	 	 	 	 	Responsible	 	 
	No.	 	LOAN DOCUMENTS	 	Party	 	Status
	 

	 	TIO	 	 	 	 
	 
	 	 	 	 	 	 
	26.

	 	Certificate of Assistant Secretary of TIO as to (i)
resolutions of its Board of Directors authorizing TIO
to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Articles of Incorporation or Bylaws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	27.

	 	Good Standing Certificate of TIO from the Secretary of
State of the State of Oregon.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	Titanium Wire	 	 	 	 
	 
	 	 	 	 	 	 
	28.

	 	Certificate of Assistant Secretary of Titanium Wire as
to (i) resolutions of its Board of Directors
authorizing Titanium Wire to enter into the Second
Amendment and all related documents, (ii) incumbency,
and (iii) no amendments to its Articles of
Incorporation or Bylaws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	29.

	 	Good Standing Certificate of Titanium Wire from the
Secretary of State of the Commonwealth of
Pennsylvania.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	AIC	 	 	 	 
	 
	 	 	 	 	 	 
	30.

	 	Certificate of Assistant Secretary of AIC as to (i)
resolutions of its Board of Directors authorizing AIC
to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Certificate of Incorporation or Bylaws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	31.

	 	Good Standing Certificate of AIC from the Secretary of
State of the State of Delaware.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	ATICH	 	 	 	 
	 
	 	 	 	 	 	 
	32.

	 	Certificate of Assistant Secretary of ATICH as to (i)
resolutions of its Board of Directors authorizing
ATICH to enter into the Second Amendment and all
related documents, (ii) incumbency, and (iii) no
amendments to its Certificate of Incorporation or
Bylaws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	33.

	 	Good Standing Certificate of ATICH from the Secretary
of State of the State of Delaware.
	 	Borrowers
	 	Complete

- 5 -

 

	 	 	 	 	 	 	 
	 	 	 	 	Responsible	 	 
	No.	 	LOAN DOCUMENTS	 	Party	 	Status
	 

	 	ATII	 	 	 	 
	 
	 	 	 	 	 	 
	34.

	 	Certificate of Assistant Secretary of ATII as to (i)
resolutions of its Board of Directors authorizing ATII
to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Articles of Incorporation or Bylaws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	35.

	 	Good Standing Certificate of ATII from the Secretary
of State of the State of California.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	 EI	 	 	 	 
	 
	 	 	 	 	 	 
	36.

	 	Certificate of Assistant Secretary of EI as to (i)
resolutions of its Board of Directors authorizing EI
to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Articles of Incorporation or Bylaws.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	37.

	 	Good Standing Certificate of EI from the Secretary of
State of the State of California.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	AII LLC	 	 	 	 
	 
	 	 	 	 	 	 
	38.

	 	Certificate of an Officer/Manager of AII LLC as to (i)
resolutions of its Managers/Members authorizing AII
LLC to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Certificate of Formation and Operating Agreement.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	39.

	 	Good Standing Certificate of AII LLC from the
Secretary of State of the Commonwealth of
Pennsylvania.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	ATIT	 	 	 	 
	 
	 	 	 	 	 	 
	40.

	 	Certificate of Assistant Secretary of ATIT as to (i)
resolutions of its Board of Directors authorizing ATIT
to enter into the Second Amendment and all related
documents, (ii) incumbency, and (iii) no amendments to
its Certificate of Formation or Limited Liability
Company Agreement.
	 	Borrowers	 	 
	 
	 	 	 	 	 	 
	41.

	 	Good Standing Certificate of ATIT from the Secretary
of State of the State of Delaware.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	 

	 	RELATED DOCUMENTS	 	 	 	 
	 
	 	 	 	 	 	 
	42.

	 	Opinions of Counsel to the Loan Parties in form and
substance satisfactory to the Administrative Agent.
	 	Borrowers	 	Complete

- 6 -

 

	 	 	 	 	 	 	 
	 	 	 	 	Responsible	 	 
	No.	 	LOAN DOCUMENTS	 	Party	 	Status
	43.

	 	Updated projected consolidated financial statements of
ATI and its subsidiaries (including balance sheets,
statements of operations and cash-flows) for the
three-year period commencing on the Second Amendment
Closing Date, in form and substance satisfactory to
the Administrative Agent.
	 	Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	44.

	 	Officer’s Certificate of each Loan Party, as of the
closing date of the Second Amendment, regarding no
material adverse change, the accuracy of
representations and warranties, compliance with
covenants, no defaults, etc.
	 	Administrative
Agent/ Borrowers
	 	Complete
	 
	 	 	 	 	 	 
	45.

	 	First Amended and Restated Administrative Agent’s Fee
Letter.
	 	Administrative Agent
	 	Complete
	 
	 	 	 	 	 	 
	46.

	 	Engagement Letter with respect to the Second Amendment.
	 	Administrative Agent
	 	Complete

- 7 -

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