Document:

diod-ex1089_290.htm

Exhibit 10.89

CONSENT AND AMENDMENT NO. 3 TO AMENDED AND RESTATED CREDIT AGREEMENT 

 

THIS CONSENT AND AMENDMENT NO. 3 TO AMENDED AND RESTATED CREDIT AGREEMENT dated as of December 27, 2018 (this “Agreement”) is entered into among DIODES INCORPORATED, a Delaware corporation (the “Domestic Borrower”), DIODES INTERNATIONAL B.V., a besloten vennootschap met beperkte aansprakelijkheid, organized under the laws of the Netherlands, having its statutory seat in Amsterdam, the Netherlands, and registered with the trade register of the Chamber of Commerce in the Netherlands under number 34274981 (“DIBV”), DIODES HOLDING B.V., a besloten vennootschap met beperkte aansprakelijkheid, organized under the laws of the Netherlands, having its statutory seat in Amsterdam, the Netherlands, and registered with the trade register of the Chamber of Commerce in the Netherlands under the number 65823060 (“DHBV”), certain Subsidiaries of the Domestic Borrower identified on the signature pages hereto as subsidiary guarantors (the “Subsidiary Guarantors”), the Lenders identified on the signature pages hereto and BANK OF AMERICA, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”).

 

PRELIMINARY STATEMENTS

The Domestic Borrower, DIBV, DHBV, the Subsidiary Guarantors, the Lenders and the Administrative Agent are parties to that certain Amended and Restated Credit Agreement dated as of October 26, 2016, as amended by that certain Amendment No. 1 to Amended and Restated Credit Agreement and Limited Waiver dated as of February 13, 2017, as amended by that certain Consent to Credit Agreement dated as of May 22, 2017, as amended by that certain Amendment No. 2 to Amended and Restated Credit Agreement dated as of August 24, 2017, as amended by that certain Consent to Credit Agreement dated as of April 20, 2018, as modified by that certain Consent to Credit Agreement dated as of October 16, 2018 (as further amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”).

The Domestic Borrower has informed the Administrative Agent and the Lenders that DIBV wishes to merge with and into DHBV, on or before December 31, 2018, with the developed plan of merger to have retroactive effect to January 1, 2018 for Dutch legal, accounting and tax purposes.  DHBV would survive such merger (the “Dutch Merger”) and all assets and liabilities of DIBV (as disappearing company), including all of DIBV’s obligations under the Loan Documents as the “Foreign Borrower”, will be acquired by operation of law (onder algemene titel) by DHBV (as surviving company).  The Dutch Merger will be laid down in a Dutch notarial merger deed (the “Dutch Merger Deed”), which will become effective on the day following the date thereof (the “Dutch Merger Deed Effective Date”).  Furthermore, as a consequence of the Dutch Merger: (i) DIBV (as disappearing company) will cease to exist and (ii) the shares in DIBV (as disappearing company) will lapse. 

The Loan Parties have requested that the Administrative Agent and the Lenders (i) consent to the Dutch Merger notwithstanding Sections 7.04(e), 7.18 and 11.06(a) of the Credit Agreement (or any other provision of the Credit Agreement or the other Loan Documents), (ii) consent to the Domestic Borrower and DHBV voting their shares in the capital of DHBV and DIBV in order to effect the Dutch Merger notwithstanding any voting restriction pursuant to the pledge over such shares and (iii) agree to amend the Credit Agreement to, among other things, accommodate the Dutch Merger.  Subject to the terms and conditions set forth herein, the Administrative Agent and each of the Lenders party hereto have agreed to grant such requests of the Loan Parties.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

 

1.Defined Terms.  Except as otherwise provided herein, all capitalized undefined terms used in this Agreement (including, without limitation, in the introductory paragraph and the preliminary statements hereto) shall have the meanings assigned thereto in the Credit Agreement.

2.Consent.  Subject to the terms and conditions hereof, and notwithstanding Sections 7.04(e), 7.18 and 11.06(a) of the Credit Agreement (or any other provision of the Credit Agreement or the other Loan Documents), the Administrative Agent and the Lenders hereby consent to the Dutch Merger and to the Domestic Borrower and DHBV voting their shares in the capital of DHBV and DIBV in order to effect the Dutch Merger notwithstanding any voting restriction pursuant to the pledge over such shares (the “Consent”).  

3.Credit Agreement Amendments.  Subject to the terms and conditions hereof:

(a)the Credit Agreement is hereby amended as set forth on Exhibit A attached hereto.

(b)Schedule 5.13 (Subsidiaries; Other Equity Investments) of the Credit Agreement is hereby replaced in its entirety with Schedule 5.13 attached hereto as Exhibit B (the foregoing (a) and (b), collectively, the “Amendment”).

 

4.Conditions to Effectiveness of Consent.  The Consent shall be effective upon the Administrative Agent’s receipt of executed counterparts of this Agreement signed by the Loan Parties, the Administrative Agent and the Lenders, which shall be originals or electronic images in a portable document format (e.g. “.pdf” or “.tif”) (followed promptly by originals), properly executed by a Responsible Officer of the signing Loan Party (such date, the “Consent Effective Date”).

5.Conditions to Effectiveness of Amendment.  The Amendment shall be effective upon satisfaction of each of the following conditions (such date, the “Amendment Effective Date”):

(a)The Consent Effective Date shall have occurred.

 

(b)(i) The Dutch Merger Deed Effective Date shall have occurred, (ii) the Dutch Merger shall have come into effect and (iii) the Administrative Agent shall have received, in form and substance reasonably satisfactory to the Administrative Agent, a true copy of the Dutch Merger Deed, which shall be an original or electronic image in a portable document format (e.g. “.pdf” or “.tif”) (followed promptly by originals).

 

(c)The Administrative Agent’s receipt of the following, each of which shall be originals or electronic images in a portable document format (e.g. “.pdf” or “.tif”) (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each (other than certificates and reports delivered pursuant to clauses (i) and (ii) below) dated the Amendment Effective Date and each in form and substance reasonably satisfactory to the Administrative Agent and each of the Lenders:

 

(i)such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of DIBV and DHBV as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to which DIBV or DHBV is a party or is to be a party; 

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(ii)true copies of the official reports of the shareholders meeting of DHBV and DIBV drawn up by a civil law notary in which the resolution to enter into the Dutch Merger was adopted; 

(iii)such documents and certifications as the Administrative Agent may reasonably require to evidence that DHBV is duly organized or formed, and that DHBV is validly existing, in good standing and qualified to engage in business in each jurisdiction where their ownership, lease or operation of properties or the conduct of their business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect;

(iv)a favorable opinion of Sheppard, Mullin, Richter & Hampton, LLP, counsel to the Loan Parties, addressed to the Administrative Agent and each Lender, as to matters concerning the Loan Parties and the Loan Documents as the Administrative Agent may reasonably request;

(v)a favorable opinion of local counsel to the Loan Parties in the Netherlands, addressed to the Administrative Agent and each Lender, as to matters concerning the Loan Parties and the Loan Documents as the Administrative Agent may reasonably request; 

(vi)a favorable opinion of local counsel to the Loan Parties in the United Kingdom, addressed to the Administrative Agent and each Lender, as to matters concerning the Loan Parties and the Loan Documents as the Administrative Agent may reasonably request;

(vii)all executed pledge documentation (collectively the “DHH Pledge”) necessary to effect the pledge by DHBV of 100% of the Equity Interests in Diodes Hong Kong Holding Company Limited (“DHH”) under Hong Kong law, accompanied by such assurances, certificates, documents, consents and/or legal opinions as the Administrative Agent may reasonably request, excepting the stock certificate representing the Equity Interests in DHH; and

(viii)such other assurances, certificates, documents, filings, information, consents or opinions as the Administrative Agent, the L/C Issuer, the Swing Line Lender or the Lenders reasonably may require.

(d)(i) Upon the reasonable request of any Lender made prior to the Amendment Effective Date, DHBV shall have provided to such Lender, and such Lender shall be reasonably satisfied with, the documentation and other information so requested in connection with applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the Act and (ii) any Borrower (including, for the avoidance of doubt, DHBV) that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation shall have provided, to each Lender that so requests, a Beneficial Ownership Certification in relation to such Borrower.

 

(e)The Loan Parties shall have paid all reasonable fees, charges and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) prior to or on the Amendment Effective Date.

 

Notwithstanding anything in this Agreement, including the Consent, or in the other Loan Documents to the contrary, should the Amendment Effective Date not occur within one (1) Business Day (unless extended by the Administrative Agent in its sole discretion) following the date of execution of the Dutch Merger Deed, there shall be deemed to be an Event of Default under the Credit Agreement.

 

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6.Updated Excerpt, etc.  Within four (4) Business Days (unless extended by the Administrative Agent in its sole discretion) after signing and filing of the Dutch Merger Deed with the Netherlands Trade Register (Nederlands Handelsregister, gehouden door de Kamer van Koophandel), DHBV shall provide to the Administrative Agent: (i) an excerpt of DHBV from the Netherlands Trade Register showing the registration of the Dutch Merger, (ii) an excerpt from the Netherlands Trade Register showing the de-registration of DIBV and (iii) an apostilled version of the true copy of the Dutch Merger Deed.  DHBV shall provide to the Administrative Agent the stock certificate representing the Equity Interests in DHH in accordance with the provisions of the DHH Pledge.

7.Effect of this Agreement.  Except as expressly provided herein, the Credit Agreement, the Collateral Agreement and the other Loan Documents shall remain unmodified and in full force and effect.  Except as expressly set forth herein, this Agreement shall not be deemed (a) to be a waiver of, or consent to a modification of or amendment of, any other term or condition of the Credit Agreement, the Collateral Agreement or any other Loan Document, (b) to prejudice any other right or rights which the Administrative Agent or the Lenders may now have or may have in the future under or in connection with the Credit Agreement, the Collateral Agreement or the other Loan Documents or any of the instruments or agreements referred to therein, as the same may be amended, restated, supplemented or otherwise modified from time to time, (c) to be a commitment or any other undertaking or expression of any willingness to engage in any further discussion with the Loan Parties or any other Person with respect to any waiver, amendment, modification or any other change to the Credit Agreement, the Collateral Agreement or the other Loan Documents or any rights or remedies arising in favor of the Lenders or the Administrative Agent, or any of them, under or with respect to any such documents, (d) to be a waiver of, or consent to a modification or amendment of, any other term or condition of any other agreement by and among any Loan Party, on the one hand, and the Administrative Agent or any other Lender, on the other hand or (e) to be a course of dealing or a consent to any departure by the Loan Parties from any other term or requirement of the Credit Agreement.  References in this Agreement to the Credit Agreement (and indirect references such as “hereunder”, “hereby”, “herein”, and “hereof”) and in any Loan Document to the Credit Agreement shall be deemed to be references to the Credit Agreement as modified hereby.

8.Confirmation.  The Administrative Agent confirms its rights, if any, pursuant to article 2:319 of the Dutch Civil Code in relation to the cancellation of the right of pledge over the shares in the capital of DIBV, as a consequence of the Dutch Merger, are satisfied as a consequence of its pledge over shares in the capital of DHBV pursuant to a notarial deed of pledge executed on October 20, 2016 before R. van Bork, civil law notary in Amsterdam, the Netherlands.

9.Representations and Warranties/No Default.  By their execution hereof, each Loan Party hereby represents and warrants as follows:

(a)Such Loan Party has the right, power and authority and has taken all necessary corporate and other action to authorize the execution and delivery of, and the performance in accordance with their respective terms of the transactions consented to in, this Agreement and each other document executed in connection herewith to which it is a party.

(b)This Agreement and each other document executed in connection herewith has been duly executed and delivered by its duly authorized officers, and each such document constitutes the legal, valid and binding obligation of such Loan Party, enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or federal debtor relief laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies.

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(c)Each of the representations and warranties set forth in the Credit Agreement and the other Loan Documents is true and correct as of the date hereof and on the Amendment Effective Date (provided that DIBV shall no longer exist per such Amendment Effective Date), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that the representations and warranties contained in subsections (a) and (b) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01 of the Credit Agreement. 

(d)No Default or Event of Default has occurred or is continuing nor would any Default or Event of Default result after giving effect to this Agreement and the transactions contemplated hereby.

(e)No Loan Party is an EEA Financial Institution.

10.Assumption and Reaffirmations.  DHBV hereby confirms that as a result of the Dutch Merger, it (i) acquires by operation of law and (ii) hereby assumes all of the rights and obligations (including the Foreign Obligations) of DIBV under the Credit Agreement and the other Loan Documents (including each of the Revolving Credit Notes) (in furtherance of, and not in lieu of, any assumption or deemed assumption as a matter of law) and hereby is joined to the Credit Agreement and the other Loan Documents, as applicable, as the Foreign Borrower thereunder (the “Foreign Borrower Assumption”).  (a) Each Loan Party agrees that the transactions contemplated by this Agreement shall not limit or diminish the obligations of such Person under, or release such Person from any obligations under, the Credit Agreement (including the Guaranty), the Collateral Agreement and each other Loan Document to which it is a party, (b) each Loan Party confirms, ratifies and reaffirms its obligations under the Credit Agreement (including the Guaranty), the Collateral Agreement and each other Loan Document to which it is a party and acknowledges and agrees that its Guaranty of, and pledge of Collateral pursuant to the Collateral Documents to which it is a party to secure, the Foreign Obligations and the other Obligations, as applicable, shall remain in full force and effect upon the Consent Effective Date, the Amendment Effective Date and upon the consummation of the Dutch Merger and the Foreign Borrower Assumption, and (d) each Loan Party agrees that, except as otherwise expressly agreed in this Agreement, the Credit Agreement (including the Guaranty), the Collateral Agreement and each other Loan Document to which it is a party remain in full force and effect and are hereby ratified and confirmed.

11.Confirmation as to Dutch Collateral Documents.  Reference is made to (i) that certain Deed of Pledge of Shares dated October 20, 2016, among the Domestic Borrower, Pericom Semiconductor Corporation and Diodes Investment Company, as pledgors, Administrative Agent, as pledgee and DHBV, as company (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “DHBV Dutch Share Pledge”), (ii) that certain omnibus pledge agreement dated 8 January 2013, between DIBV, as pledgor and Administrative Agent, as pledgee (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “DIBV Omnibus Pledge Agreement”), (iii) that certain omnibus pledge agreement dated July 18, 2016, between DHBV, as pledgor and Administrative Agent, as pledgee (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “DHBV Omnibus Pledge Agreement”) and (iv) that certain Charged Account Control Deed dated 5 April 2013, among DIBV, as company, Administrative Agent, as agent and Bank of America, N.A., as bank (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “DIBV Charged Account Control Deed”, together with the DHBV Omnibus Pledge Agreement, the DIBV Omnibus Pledge Agreement and the DHBV Dutch Share Pledge, the “Dutch Collateral Documents”).  Each party to the Dutch Collateral Documents hereby confirms that:

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(a)the Credit Agreement (after giving effect to this Agreement), and the other Loan Documents will remain in full force and effect and any reference in the Loan Documents to the Credit Agreement or to any provision of the Credit Agreement will be construed as a reference to the Credit Agreement, or that provision, after giving effect to this Agreement;

(b)notwithstanding the amendments made to the Credit Agreement pursuant to this Agreement, the Dutch Collateral Documents and the security interests created thereunder will remain in full force and effect and will continue to secure all liabilities which are expressed to be secured by them and the rights of the Loan Parties under such security interest will not be affected by this Agreement;

(c)(i) any amount owed by any Borrower under this Agreement and the Credit Agreement (as amended by this Agreement) continues to be or has become part of each Loan Party’s Parallel Debts (as included/defined in the Credit Agreement) and (ii) and each Loan Party’s Parallel Debts continue to be part of the Secured Obligations (as included and defined in the Dutch Collateral Documents); and

(d)at the time of the entering into the Dutch Collateral Documents, it was their intention that the security rights created pursuant to the Dutch Collateral Documents would provide security for the Secured Obligations (as defined in the Dutch Collateral Documents) as they may be amended, restated, supplemented or otherwise modified from time to time, including amendments to the Credit Agreement and the Loan Documents, including amendments to the Credit Agreement and the Loan Documents such as the amendments to be effected by this Agreement.

12.Miscellaneous

(a)Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.  Without limiting the general applicability of the foregoing and the terms of the other Loan Documents to this Agreement and the parties hereto, the terms of Section 11.14 and Section 11.15 of the Credit Agreement are incorporated herein by reference, mutatis mutandis.

(b)Loan Document.  This Agreement shall constitute a “Loan Document” under and as defined in the Credit Agreement.

(c)Counterparts; Electronic Execution.  This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  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.  

(d)Severability.  If any provision of this Agreement is determined to be illegal, invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable provisions.

(e)Entirety.  This Agreement, the other Loan Documents and the other documents relating to the Obligations represent the entire agreement of the parties hereto and thereto, and supersede all prior agreements and understandings, oral or written, if any, including any commitment letters or correspondence relating to the Loan Documents, any other documents relating to the Obligations, or the transactions contemplated herein and therein.

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(f)Dutch Law. If DIBV and/or DHBV is represented by an attorney in connection with the signing and/or execution of this Agreement or any other agreement, deed or document referred to in or made pursuant to this Agreement, it is hereby expressly acknowledged and accepted by the other parties to this Agreement that the existence or extent of the attorney’s authority and the effects of the attorney’s exercise or purported exercise of his or her authority shall be governed by the laws of the Netherlands.

[Remainder of page intentionally blank.]

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date first above written.

 

	
DOMESTIC BORROWER:

	
 

	
DIODES INCORPORATED

	
 
	
 

	
By:
	
/s/ Richard D. White

	
 
	
 

	
Name:
	
Richard D. White

	
 
	
 

	
Title:
	
CFO

 

 

	
FOREIGN BORROWER:

	
DIODES INTERNATIONAL B.V. (which shall be merged with and into DHBV, with DHBV surviving such merger as the Foreign Borrower)

	
 
	
 

	
By:
	
/s/ Richard D. White

	
 
	
 

	
Name:
	
Richard D. White

	
 
	
 

	
Title:
	
Managing Director A

	
 
	
 

	
By:
	
/s/ B.B. Faber

	
 
	
 

	
Name:
	
B.B. Faber

	
 
	
 

	
Title:
	
Managing Director B

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated

 

 

 

	
The undersigned hereby confirms that, as a result of the Dutch Merger described in this Agreement, it shall acquire and hereby assumes all of the rights and obligations of DIBV under the Credit Agreement and the other Loan Documents (in furtherance of, and not in lieu of, any assumption or deemed assumption as a matter of law) and hereby is joined to the Credit Agreement and the other Loan Documents, as applicable, as the Foreign Borrower thereunder, all in accordance with the provisions of this Agreement.

	
 

	
DIODES HOLDING B.V. 

	
 

	
 
	
 

	
By:
	
/s/ Richard D. White

	
 
	
 

	
Name:
	
Richard D. White

	
 
	
 

	
Title:
	
Managing Director A

 

	
By:
	
/s/ B.B. Faber

	
 
	
 

	
Name:
	
B.B. Faber

	
 
	
 

	
Title:
	
Managing Director B

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated

 

 

 

	
SUBSIDIARY GUARANTORS:

	
 

	
DIODES HOLDINGS UK LIMITED

	
 
	
 

	
By:
	
/s/ Richard D. White

	
 
	
 

	
Name:
	
Richard D. White

	
 
	
 

	
Title:
	
Director

 

	
DIODES ZETEX LIMITED

	
 

	
 
	
 

	
By:
	
/s/ Richard D. White

	
 
	
 

	
Name:
	
Richard D. White

	
 
	
 

	
Title:
	
Director

 

 

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated

 

 

 

	
BANK OF AMERICA, N.A.,

	
as Administrative Agent

	
 
	
 

	
By:
	
/s/ Anthony W. Kell

	
 
	
 

	
Name:
	
Anthony W. Kell

	
 
	
 

	
Title:
	
Vice President

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated 

 

 

 

	
BANK OF AMERICA, N.A.,

	
as a Lender, L/C Issuer and Swing Line Lender

	
 
	
 

	
By:
	
/s/ Jennifer Yan

	
 
	
 

	
Name:
	
Jennifer Yan

	
 
	
 

	
Title:
	
Senior Vice President

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated 

 

 

 

	
COMPASS BANK,

	
as a Lender

	
 
	
 

	
By:
	
/s/ Jay Tweed

	
 
	
 

	
Name:
	
Jay Tweed

	
 
	
 

	
Title:
	
Senior Vice President

 

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated 

 

 

 

	
CITIBANK, N.A.,

	
as a Lender

	
 
	
 

	
By:
	
/s/ Randy Humphreys

	
 
	
 

	
Name:
	
Randy Humphreys

	
 
	
 

	
Title:
	
Director

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated 

 

 

 

	
BMO HARRIS BANK N.A.,

	
as a Lender

	
By:  
	
/s/ Jeff LaRue

	
 
	
 

	
Name:
	
Jeff LaRue

	
 
	
 

	
Title:
	
Vice President

	
 
	
 

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated 

 

 

 

	
REGIONS BANK,

	
as a Lender

	
 
	
 

	
By:  
	
/s/ Derek Miller

	
 
	
 

	
Name:  
	
Derek Miller

	
 
	
 

	
Title:
	
Vice President

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated 

 

 

 

	
SILICON VALLEY BANK,

	
as a Lender

	
 

	
By:
	
/s/ Ryan Thompson

	
 
	
 

	
Name:
	
Ryan Thompson

	
 
	
 

	
Title:
	
Vice President

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated 

 

 

 

	
CAPITAL ONE, N.A.,

	
as a Lender

	
 
	
 

	
By:
	
/s/ Seth Meier

	
 
	
 

	
Name:
	
Seth Meier

	
 
	
 

	
Title:
	
Sr. Director

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated 

 

 

 

	
COMERICA BANK,

	
as a Lender

	
 
	
 

	
By:
	
/s/ John Smithson

	
 
	
 

	
Name:
	
John Smithson

	
 
	
 

	
Title:
	
Vice President

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated 

 

 

 

		
	
MUFG UNION BANK, N.A.,

	
as a Lender

	
 

	
By:
	
/s/ Richard Ong Pho

	
 
	
 

	
Name:
	
Richard Ong Pho

	
 
	
 

	
Title:
	
Managing Director

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated 

 

 

 

	
WELLS FARGO BANK, N.A.,

	
as a Lender

	
 
	
 

	
By:
	
/s/ Derek Jensen

	
 
	
 

	
Name:
	
Derek Jensen

	
 
	
 

	
Title:
	
Vice President

 

 

 

Signature Page to Consent and Amendment No. 3 to A&R Credit Agreement

Diodes Incorporated 

 

 

EXHIBIT A

AMENDED CREDIT AGREEMENT

(Attached)Exhibit

Exhibit 10.33

AMN HEALTHCARE 
 EQUITY PLAN 
RESTRICTED STOCK UNIT AGREEMENT
THIS RESTRICTED STOCK UNIT AGREEMENT (the “Agreement”), made this __________  ___, 20__, by and between AMN Healthcare Services, Inc. (the “Company”), a Delaware corporation, and _________________ (the “Grantee”).
W I T N E S S E T H:
WHEREAS, the Company sponsors the AMN Healthcare 2017 Equity Plan, (as may be amended from time to time, the “Plan”), and desires to afford the Grantee the opportunity to share in the appreciation of the Company’s common stock, par value $.01 per share (“Stock”) thereunder, thereby strengthening the Grantee’s commitment to the welfare of the Company and Affiliates and promoting an identity of interest between stockholders and the Grantee.
NOW THEREFORE, in consideration of the covenants and agreements herein contained, the parties hereto hereby agree as follows:
1.    Definitions.
The following definitions shall be applicable throughout the Agreement.  Where capitalized terms are used but not defined herein, their meaning shall be that set forth in the Plan (unless the context indicates otherwise).
(a)    “Affiliate” means (i) any entity that directly or indirectly is controlled by, or is under common control with, the Company and (ii) any entity in which the Company has a significant equity interest, in either case, as determined by the Committee.
(b)    “Cause” means (i) the definition of “cause” provided in the employment or severance agreement in effect between the Grantee and the Company or any Affiliate or (ii) if no such agreement exists, then the occurrence of any of the following: (A) Grantee’s failure to perform in any material respect his or her duties as an employee of the Company, (B) Grantee’s violation of the Company’s Code of Business Conduct, Code of Ethics for Senior Financial Officers and Principal Executive Officer, and/or Securities Trading Policy, (C) the engaging by Grantee in willful misconduct or gross negligence which is injurious to the Company or any of its affiliates, monetarily or otherwise, (D) the commission by the Grantee of an act of fraud or embezzlement against the Company or any of its affiliates, or (E) the conviction of the Grantee of a crime which constitutes a felony or any lesser crime that involves Company property or a pleading of guilty or nolo contendere with respect to a crime which constitutes a felony or any lesser crime that involves Company property.
(c)    “Change in Control” means:
(i)    the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended 

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Exhibit 10.33

(the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d‐3 promulgated under the Exchange Act) of a majority of the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors;
(ii)    the sale of all or substantially all of the business or assets of the Company; or
(iii)    the consummation of a merger, consolidation or similar form of corporate transaction involving the Company that requires the approval of the Company’s stockholders, whether for such transaction or the issuance of securities in the transaction (a “Business Combination”), if immediately following such Business Combination: (A) a Person is or becomes the beneficial owner, directly or indirectly, of a majority of the combined voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation), or (B) the Company’s stockholders prior to the Business Combination thereafter cease to beneficially own, directly or indirectly, a majority of the combined voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation), counting for this purpose only voting securities of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) received by such stockholders in connection with the Business Combination. “Surviving Corporation” shall mean the corporation resulting from a Business Combination, and “Parent Corporation” shall mean the ultimate parent corporation that directly or indirectly has beneficial ownership of a majority of the combined voting power of the then outstanding voting securities of the Surviving Corporation entitled to vote generally in the election of directors.
(d)    “Change in Control Termination” means the occurrence of either of the following events during the Protection Period: (i) the Company’s termination of the Grantee’s Service without Cause (other than due to death or Disability) or (ii) the Grantee’s termination of his or her Service with Good Reason at a time when the Grantee could not have been terminated for Cause.
(a)    “Credited Service” means the performance of Service on a substantially full time basis for a continuous twelve-month period.  For this purpose, substantially full time basis shall mean that the employee or consultant provides regular and recurring services to the Company of at least 32 hours each week. The taking of approved paid time off or legally mandated leave, such as FMLA, does not interrupt this period of Credited Service.  Notwithstanding the foregoing, the Committee may treat periods of less than full time employment, in whole or in part, as Credited Service in its sole discretion.
(b)    “Disabled” has the meaning set forth in Section 13(c)(ii) of the Plan.
(c)    “Good Reason” means (i) the definition of “good reason” provided in the employment or severance agreement in effect between the Grantee and the Company or any Affiliate or (ii) if no such agreement exists, then the occurrence of any of the following events without the Grantee’s express written consent: (A) a material reduction in the Grantee’s base 

Page 2 of 9

Exhibit 10.33

salary or target annual bonus compensation as in effect on the date immediately prior to a Change in Control, (B) the Company’s assignment to the Grantee without the Grantee’s consent of duties materially and adversely inconsistent with the Grantee’s position, duties or responsibilities as in effect immediately before the Change in Control, including, but not limited to, any material reduction in such position, duties or responsibilities, or a change in the Grantee’s title or office, as then in effect, or any removal of the Grantee from any of such positions, titles or offices, or (C) the Company’s relocation of the Grantee’s principal place of employment to a locale that is more than fifty (50) miles from the Grantee’s principal place of employment immediately prior to the Change in Control.
(d)    “Grant Date” means ___________________, which is the date the Committee authorized this RSU grant.
(e)    “NQDC Plan” means the Company’s 2005 Amended and Restated Executive Nonqualified Excess Plan, as may be amended from time to time.
(f)    “Protection Period” means the period beginning on the date that is six (6) months before the effective date of a Change in Control and ending on the second anniversary of the effective date of the Change in Control.
(g)    “Restricted Stock Unit(s)” or “RSU(s)” means the restricted stock unit granted under Section 2.
(h)    “Retirement” means termination of an employee’s Service (other than for Cause or due to a Change in Control Termination) on or after attainment of age 55 with at least 15 full years of aggregate Service.  For clarity, only twelve (12) months of continuous Service shall count as a full year of Service for purposes of determining if an employee is eligible for Retirement.
(i)    “Service” means the performance of services for the Company (or any Affiliate) by a person in the capacity of an officer or other employee or key person (including consultants).
2.    Grant of Restricted Stock Units.  Subject to the terms and conditions set forth herein, the Company hereby grants to the Grantee an aggregate of ______ Restricted Stock Units (“RSUs”). 
3.    Vesting Schedule.  No RSUs may be settled until they shall have vested.  Except as otherwise set forth in this Agreement or in the Plan, the RSUs will vest in three tranches on each of the first, second and third anniversaries of the Grant Date and the Grantee’s provision of three periods of  Credited Service.  The first tranche, equal to 33% of the RSUs granted, will vest on the first anniversary of the Grant Date and the Grantee’s provision of one period of Credited Service.  The second tranche, equal to 33% of the RSUs granted, will vest on the second anniversary of the Grant Date and the Grantee’s provision of a second period of Credited Service.  The final tranche, equal to 34% of the RSUs granted, will vest on the third anniversary of the Grant Date and the Grantee’s provision of a third period of Credited Service.  

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Exhibit 10.33

4.    Settlement and Deferral of RSUs.  
(a)    Each vested RSU entitles the Grantee to receive one share of Stock on the “Settlement Date,” which shall be the later of (i) the vesting date for such RSU, provided, however, if there is an accelerated vesting of all or a portion of the RSUs under Section 6 hereof, the Settlement Date for any such accelerated RSUs shall be the date on which it is determined that the conditions to acceleration have been met or (ii) the end of the deferral period specified by the Grantee.  The deferral period shall be no less than four (4) years and five (5) days from the Grant Date.  Such deferral election shall be made within 30 days of the Grant Date.  The deferral of RSUs shall be subject to the NQDC Plan and the applicable deferral election.
(b)    Shares of Stock underlying the RSUs shall be issued and delivered to the Grantee in accordance with paragraph (a) and upon compliance to the satisfaction of the Committee with all requirements under applicable laws or regulations in connection with such issuance and with the requirements hereof and of the Plan.  The determination of the Committee as to such compliance shall be final and binding on the Grantee.  The shares of Stock delivered to the Grantee pursuant to this Section 4 shall be free and clear of all liens, fully paid and non-assessable. In no event shall fractional shares of Stock be issued.
(c)    Until such time as shares of Stock have been issued to the Grantee pursuant to paragraph (b) above, and except as set forth in Section 5 below regarding dividend equivalents, the Grantee shall not have any rights as a holder of the shares of Stock underlying this Grant including but not limited to voting rights.
(d)    The Grantee may be required to pay to the Company or any Affiliate, and the Company or any Affiliate shall have the right and is hereby authorized to withhold from any shares of Stock or other property deliverable under the RSU or from any compensation or other amounts owing to the Grantee the amount (in cash, Stock or other property) of any required tax withholding and payroll taxes in respect of an RSU vesting or settlement and to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for the payment of such taxes.
(e)    Without limiting the generality of clause (d) above, in the Committee’s sole discretion the Grantee may satisfy, in whole or in part, the foregoing withholding liability by having the Company withhold from the number of shares of Stock otherwise issuable pursuant to the settlement of the RSU a number of shares with a Fair Market Value equal to such withholding liability.
5.    Dividend Equivalents.  If on any date the Company shall pay any cash dividend on shares of Stock of the Company, the number of RSUs credited to the Grantee shall, as of such date, be increased by an amount determined by the following formula:
W = (X multiplied by Y) divided by Z, where:
W = the number of additional RSUs to be credited to the Grantee on such dividend payment date;

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Exhibit 10.33

X = the aggregate number of RSUs (whether vested or unvested) credited to the Grantee as of the record date of the dividend;
Y = the cash dividend per share amount; and 
Z = the Fair Market Value per share of Stock (as determined under the Plan) on the dividend payment date.
6.    Termination of Service.
(a)    Except as provided below, if the Grantee’s Service terminates for any reason prior to the Settlement Date, then all vested RSUs shall be settled in accordance with Section 4, and any unvested RSUs shall be forfeited.
(b)    If the Grantee’s Service terminates due to Retirement at any time after six (6) months from the Grant Date but before the Settlement Date, then the Grantee shall continue to vest in all of the Grantee’s RSUs according to the schedule established in Section 3 as though the Grantee’s Service had not terminated (and, for the sake of clarity, as though the Grantee met all Credited Service requirements), and such RSUs shall be settled at the time specified in Section 4 hereof.  
(c)    If the Grantee’s Service terminates due to a Change in Control Termination after the Grant Date but before the Settlement Date, then on the date of the Grantee’s termination (or, if later, on the effective date of the Change in Control), 100% of the RSUs shall become immediately vested and settled according to Section 4 hereof.  
(d)    In the event of the Grantee’s death or if the Committee determines, in its sole discretion, that the Grantee has become Disabled, in each case, after the Grant Date and prior to third anniversary of the Grant Date), 100% of the RSUs shall become immediately vested and, regardless of the Grantee’s deferral election, the Company as soon as reasonably practicable shall issue shares of Stock to the Grantee (or the Grantee’s designated beneficiary or estate executor in the event of the Grantee’s death) with respect to the RSUs that have vested hereunder but for which shares of Stock had not yet been issued to the Grantee.  
(e)    If the Grantee’s service terminates for Cause, then any outstanding RSUs, whether vested or unvested, shall be forfeited and cancelled as of the Grantee’s termination date.  If the Grantee’s employment is terminated due to a reason specified in (b)-(d) above but, after such termination, the Committee determines that it would have had Cause to terminate the Grantee’s Service if all the relevant facts had been known to the Committee as of the date of the Grantee’s termination, then all outstanding RSUs shall immediately be forfeited and cancelled, whether or not vested, as of the date of the Committee’s determination.  
7.    Company; Grantee.
(a)    The term “Company” as used in this Agreement with reference to employment shall include the Company, its Subsidiaries and its Affiliates, as appropriate.

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Exhibit 10.33

(b)    Whenever the word “Grantee” is used in any provision of this Agreement under circumstances where the provision should logically be construed to apply to the beneficiaries, the executors, the administrators, or the person or persons to whom the RSUs may be transferred by will or by the laws of descent and distribution, the word “Grantee” shall be deemed to include such person or persons.
8.    Non-Transferability.  The RSUs granted herein are not transferable by the Grantee other than to a designated beneficiary upon death, by will or the laws of descent and distribution, to a trust solely for the benefit of the Grantee or his/her immediate family or, in the case of the RSUs being held by such a trust, by the trustee.
9.    Forfeiture for Violation of Restrictive Covenants. 
(a)    Non-Compete.  The Grantee agrees that during the term of the Grantee’s employment and for a period of two years thereafter (the “Coverage Period”) the Grantee will not engage in, consult with, participate in, hold a position as shareholder, director, officer, consultant, employee, partner or investor, or otherwise assist any business entity (i) in any State of the United States of America or (ii) in any other country in which the Company (which, for the avoidance of doubt, includes for all purposes of this Section 9 any and all of its divisions, Affiliates or Subsidiaries) has business activities, in either case, that is engaged in (A) any activities that are competitive with the business of providing (I) healthcare or other personnel on a temporary or permanent placement basis to hospitals, healthcare facilities, healthcare provider practice groups or other entities, or (II) clinical workforce management services, or (B) any other business in which the Company is then engaged, in each case, including any and all business activities reasonably related thereto.
(b)    Non-Solicit.  The Grantee agrees that during the Coverage Period, the Grantee shall not solicit, attempt to solicit or endeavor to entice away from the Company any person who, at any time during the term of the Grantee’s employment was a healthcare professional (including a healthcare executive) of the Company, or an employee, customer, permanent placement candidate, client or supplier of the Company.
(c)    Confidential and Proprietary Information.  The Grantee agrees that the Grantee will not, at any time make use of or divulge to any other person, firm or corporation any confidential or proprietary information concerning the business or policies of the Company (which includes, for the avoidance of doubt, any and all of its divisions, Affiliates or Subsidiaries).  For purposes of this Agreement, any confidential information shall constitute any information designated as confidential or proprietary by the Company or otherwise known by the Grantee to be confidential or proprietary information including, without limitation, customer information.  The Grantee acknowledges and agrees that for purposes of this Agreement, “customer information” includes without limitation, customer lists, all lists of professional personnel, names, addresses, phone numbers, contact persons, preferences, pricing arrangements, requirements and practices.  The Grantee’s obligation under this Section 9(c) shall not apply to any information that (i) is known publicly; (ii) is in the public domain or hereafter enters the public domain without the fault of the Grantee; or (iii) is hereafter disclosed to the Grantee by a third party not under an obligation of confidence to the Company.  The Grantee agrees not to 

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Exhibit 10.33

remove from the premises of the Company, except as an employee of the Company in pursuit of the business of the Company or except as specifically permitted in writing by the Company, any document or other object containing or reflecting any such confidential or proprietary information.  The Grantee recognizes that all such information, whether developed by the Grantee or by someone else, will be the sole exclusive property of the Company.  Upon termination of employment, the Grantee shall forthwith deliver to the Company all such confidential or proprietary information, including without limitation all lists of customers, pricing methods, financial structures, correspondence, accounts, records and any other documents, computer disks, computer programs, software, laptops, modems or property made or held by the Grantee or under the Grantee’s control in relation to the business or affairs of the Company, and no copy of any such confidential or proprietary information shall be retained by the Grantee.
(d)    Forfeiture for Violations.  If the Grantee shall at any time violate the provisions of Section 9(a), (b), or (c), the Grantee shall immediately forfeit his/her RSUs (whether vested or unvested) and any issuance of shares of Stock that occurs after (or within six (6) months before) any such violation shall be void ab initio.
(e)    Additional Agreement.  For the avoidance of doubt, this Section 9 shall be in addition to and shall not supersede (or be superseded by) any other agreements related to the subject matter of this Section 9 contained in any confidentiality agreement, noncompetition agreement or any other agreement between the Grantee and the Company. 
10.     Rights as Stockholder.  The Grantee or a transferee of the RSUs shall have no rights as a stockholder with respect to any share of Stock covered by the RSUs until the Grantee shall have become the holder of record of such share of Stock and no adjustment shall be made for dividends or distributions or other rights in respect of such share of Stock for which the record date is prior to the date upon which Grantee shall become the holder of record thereof.
11.    Successor.  The obligations of the Company under this Agreement shall be binding upon any successor corporation or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or organization succeeding to substantially all of the assets and business of the Company.  The Company agrees that it will make appropriate provisions for the preservation of the Grantee’s rights under this Agreement in any agreement or plan that it may enter into or adopt to effect any such merger, consolidation, reorganization or transfer of assets.
12.    Notice.  Every notice or other communication relating to this Agreement shall be in writing, and shall be mailed to or delivered to the party for whom it is intended at such address as may from time to time be designated by it in a notice mailed or delivered to the other party as herein provided, provided that, unless and until some other address be so designated, all notices or communications by the Grantee to the Company shall be mailed or delivered to the Company at its principal executive office, and all notices or communications by the Company to the Grantee may be given to the Grantee personally or may be mailed to the Grantee at the Grantee’s address as recorded in the records of the Company.

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Exhibit 10.33

13.    No Right to Continued Employment.  This Agreement shall not be construed as giving the Grantee the right to be retained in the employ or service of the Company, a Subsidiary or an Affiliate.  Further, the Company or an Affiliate may at any time dismiss the Grantee or discontinue any consulting relationship, free from any liability or any claim under this Agreement, except as otherwise expressly provided herein.
14.    Binding Effect.  Subject to Section 8 hereof, this Agreement shall be binding upon the heirs, executors, administrators and successors of the parties hereto.
15.    Amendment of Agreement.  The Committee may, to the extent consistent with the terms of this Agreement, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any portion of the RSUs heretofore granted, prospectively or retroactively; provided that any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would adversely impair the rights of the Grantee in respect of any RSUs already granted shall not to that extent be effective without the consent of the Grantee.
16.    RSUs Subject to Plan and NQDC Plan.  By entering into this Agreement, the Grantee agrees and acknowledges that the Grantee has received and read a copy of the Plan and a copy of the NQDC Plan.  The RSUs are subject to the terms of Plan, and the NQDC Plan if the RSUs are deferred under the NQDC Plan.  The terms and provisions of the plans as they may be amended from time to time are hereby incorporated herein by reference.  In the event of a conflict between any term or provision contained herein and a term or provision of either the Plan or the NQDC Plan, the applicable terms and provisions of the applicable plan will govern and prevail.
17.    Governing Law.  This Agreement shall be construed and interpreted in accordance with the internal laws of the State of Delaware without regard to the principles of conflicts of law thereof, or principles of conflicts of laws of any other jurisdiction that could cause the application of the laws of any jurisdiction other than the State of Delaware.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

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Exhibit 10.33

AMN HEALTHCARE SERVICES, INC.
		
	By: 
	         
Name:    Susan R. Salka 
Title:    President and CEO

GRANTEE
		
	By: 
	             
Name:    

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