Document:

leds_Ex10_3

		
			Exhibit 10.3
		

		
			 
		

		
			SEMILEDS CORPORATION
		

		
			 
		

		
			AMENDMENT NO. 1 TO PURCHASE AGREEMENT
		

		
			 
		

		
			This Amendment No. 1 to Purchase Agreement (this “Amendment”) is hereby entered into, as of August 23, 2016, by and among SemiLEDs Corporation, a Delaware corporation (the “Company”), PETER CHIOU, an individual (the “Assignor”), and WELL THRIVE LIMITED, a Samoa international company (the “Assignee” and together with the Assignor, the “Counterparties”).
		

		
			WHEREAS: 
		

			
	
			
				 A.
			The Company and the Assignor have previously entered into the Purchase Agreement dated as of June 28, 2016 and effective July 6, 2016 (the “Purchase Agreement”). Capitalized terms used but not otherwise defined herein have the meaning ascribed in the Purchase Agreement;

			
	
			
				 B.
			The Counterparties entered into an Assignment and Assumption of Purchase Agreement (the “Assignment”) as of August 4, 2016 pursuant to which Assignor assigned to Assignee all of Assignor’s right, title and interest in, to and under the Purchase Agreement and all deposits delivered by Assignor thereunder, and Assignee accepted such assignment, assumed all of Assignor’s obligations under the Purchase Agreement, agreed to be bound by all of the provisions thereof and to timely perform all of the obligations of the purchaser thereunder;

			
	
			
				 C.
			The Company and the Counterparties wish to amend the Purchase Agreement as set forth herein; and

			
	
			
				 D.
			The undersigned consist of all of the parties necessary to amend the Purchase Agreement, pursuant to Section 6.11 thereof.

		
			AGREEMENT
		

		
			NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, each intending to be legally bound hereby, agree as follows:
		

			
	
			
				 1.
			Amendment to Purchase Agreement.  Section 4.2 of the Purchase Agreement shall be amended and restated to read in its entirety as follows:

		
			“4.2Exchange Cap Stockholder Vote.  The Company covenants that it will include a proposal in its proxy materials for its annual meeting of stockholders to be held in 2017 recommending that the stockholders vote to approve the issuance of Common Stock in excess of the Exchange Cap to allow for the conversion of the Note into Common Stock (the “Exchange Cap Proposal”).  The 577,000 Shares of Common Stock issued pursuant to Section 1.1 of this Purchase Agreement shall not be entitled to vote on the Exchange Cap Proposal.”
		

		 

 

			
	
			
				 2.
			Full Force and Effect.  Except as otherwise provided in Section 1 hereof, the terms and conditions of the Purchase Agreement, as modified by the Assignment shall remain in full force and effect.

			
	
			
				 3.
			Counterparts.  This Amendment may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument.

			
	
			
				 4.
			Governing Law.  This Amendment and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of Delaware, without giving effect to principles of conflicts of law.

		
			 
		

		
			 
		

		
			 [Signature Page Follows]
		

		
			 
		

		
			 
		

		
			

		 

 

IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 to Purchase Agreement as of the date first above written.
		

			
					
						 

					
					
						 

				
	
					
						 

					
					
						COMPANY:

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						SEMILEDS CORPORATION

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						By:   /s/ Trung Doan                          

				
	
					
						 

					
					
						         Trung Doan, Chairman & CEO

				

		
			 
		

		
			
		

		
			

		 

		

			 

		

 

 
		

		
			 
		

		
			IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 to Purchase Agreement as of the date first above written.
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						ASSIGNOR

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						PETER CHIOU,

				
	
					
						 

					
					
						 

					
					
						 

					
					
						an individual

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ PETER CHIOU

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Date:

					
					
						August 22, 2016

					
					
						 

				

		
			 
		

		
			 
		

		
			 
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						ASSIGNEE

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						WELL THRIVE LIMITED,

				
	
					
						 

					
					
						 

					
					
						 

					
					
						a Samoa international company

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						By:

					
					
						/s/ Sheng-Chun Chang

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Name:

					
					
						Sheng-Chun Chang

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Its:

					
					
						Director

				
	
					
						 

					
					
						 

					
					
						 

					
					
						Date:

					
					
						August 22, 2016EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

UNCONDITIONAL GUARANTY 

THIS UNCONDITIONAL GUARANTY (this “Guaranty”) is made as of August 21, 2016, by Alimentation Couche-Tard Inc., a corporation
organized under the laws of the Province of Quebec, Canada (“Guarantor”), having a notice address of 4204 Boul. Industriel, Laval, Quebec H7L 0E3, to and for the benefit of CST Brands, Inc., a Texas corporation (“Beneficiary”),
having a notice address of One Valero Way, Building D, Suite 200, San Antonio, Texas 78249. 
 RECITALS 

A. Concurrently herewith, Beneficiary, Circle K Stores Inc., a Texas corporation (“CKS”), and Ultra Acquisition Corp., a Delaware
corporation (“Ultra” and, together with CKS, “Circle K”) are entering into an Agreement and Plan of Merger, dated as of the date hereof (as amended from time to time, the “Merger Agreement”). 

B. Beneficiary’s willingness to enter into the Merger Agreement is expressly conditioned upon the execution and delivery of this Guaranty
by Guarantor. Guarantor, in consideration of its relationship to Circle K, has agreed to provide this Guaranty. 
 NOW, THEREFORE, in
consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Guarantor agrees as follows: 

1. Guarantor, as primary obligor and not merely as surety, hereby absolutely, irrevocably and unconditionally guarantees the full and timely
performance and payment when due of each and every obligation of Circle K under the Merger Agreement (the “Guaranteed Obligations”). 

2. This is an unconditional guaranty of performance and not of collection. Guarantor expressly agrees that its liability under this Guaranty
shall be primary and that in any right of action which may accrue to Beneficiary under the Merger Agreement, Beneficiary may proceed against Guarantor directly without having commenced any action against or having obtained any judgment against
Circle K or any permitted assignee of the Merger Agreement or may proceed against Guarantor and Circle K and/or any permitted assignee of the Merger Agreement jointly and severally. 

3. Guarantor waives and agrees not to assert or to take advantage of (a) any defense that may arise by reason of the incapacity, lack of
authority, bankruptcy, insolvency or disability of Circle K or any other person or entity; (b) any defense based upon the failure of the Circle K or any other person or entity to take any action or refrain from any action; (c) any duty on
the part of Beneficiary to disclose to Guarantor any facts it may now or hereafter know; (d) promptness, diligence, acceptance or notice of acceptance of this Guaranty; (e) the invalidity or unenforceability of the Merger Agreement;
(f) any defense based upon a failure to notify Guarantor of any modification 

 
to the Merger Agreement including, without limitation, notice of any extension of time for performance and/or payment; (g) presentment, demand for payment, notice of non-performance,
default, dishonor and protest, notice of any Guaranteed Obligations incurred and any defenses which may be available by virtue of any valuation, stay or moratorium law or similar law now or hereafter in effect; or (h) any other defense that
Guarantor may or might have relating to its undertakings, liabilities, and obligations hereunder. Guarantor agrees that the obligations of Guarantor hereunder shall not be released or discharged, in whole or in part, or otherwise affected by
(i) the failure or delay on the part of the Beneficiary to assert any claim or demand or to enforce any right or remedy against Circle K; (ii) any change in the corporate existence, structure or ownership of the Beneficiary, Circle K,
Guarantor or any other person or entity interested in the transactions contemplated by this Guaranty or the Merger Agreement; (iii) any change in the time, place or manner of payment of any of the Guaranteed Obligations or (iv) the
adequacy of any other means the Beneficiary may have of obtaining payment related to any of the Guaranteed Obligations. If at any time payment under this Guaranty or the Merger Agreement is rescinded or must be otherwise restored or returned by the
Beneficiary upon the insolvency, bankruptcy or reorganization of the Guarantor, Circle K or otherwise, the Guarantor’s obligations hereunder with respect to such payment shall be reinstated upon such restoration or return being made by the
Beneficiary, all as though such payment had not been made. 
 4. Guarantor further agrees that the validity of this Guaranty shall in no way
be terminated, affected, or impaired by reason of Beneficiary’s grant of any indulgences to Circle K under the Merger Agreement, whether directly or indirectly, or by reason of the assertion by Beneficiary of any rights or remedies against
Circle K. Guarantor hereby waives all suretyship defenses. 
 5. Guarantor represents that it has read and understands the Merger Agreement
and, without limitation, the obligations of Circle K to which this Guaranty applies under the Merger Agreement. Guarantor hereby agrees that this Guaranty shall remain in full force and effect as to any modification of the Merger Agreement or any
agreement evidencing, securing or otherwise executed in connection with any of the Guaranteed Obligations, whether or not Guarantor shall have received notice of or consented to such modification. In addition, no assignment of the Merger Agreement
or any rights or obligations contained therein contained by Circle K shall operate to extinguish or diminish the liability of Guarantor under this Guaranty. 

6. Guarantor hereby represents and warrants that the this Guaranty has been duly authorized, executed and delivered by Guarantor and the
execution, delivery and performance of this Guaranty by Guarantor do not and will not (i) conflict with or result in a breach of any of the terms of Guarantor’s certificate or articles of incorporation, bylaws or other constituent charter
documents, (ii) result in any breach of, or constitute a default under, any contract or agreement to which Guarantor is bound, (iii) violate any law or regulation applicable to Guarantor, or (iv) require Guarantor to obtain or make
any consent, approval or authorization of, or registration, filing or declaration with, any governmental or regulatory authority or other person. Guarantor acknowledges that it will receive substantial direct and indirect benefits from the
transactions contemplated hereby and by the Merger Agreement. 

  
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 7. This Guaranty shall continue in effect until each and every Guaranteed Obligation is
satisfied. 
 8. This Guaranty may not be amended or modified, or any of its provisions waived, except by a written instrument signed by
Beneficiary and Guarantor. 
 9. Any notice hereunder shall be in writing and shall be deemed given on the next business day after the date
of delivery, if personally delivered, or on the fifth day after such notice is placed in the United States or Canadian mail, postage prepaid, sent by registered or certified mail, return receipt requested, and addressed to the applicable party
hereto at the address set forth in the introductory paragraph hereof, or to such other address as a party may designate for itself from time to time for the purpose of receiving notices hereunder by notice given in the manner aforesaid. 

10. This Guaranty shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of
laws principles thereof. If any term or provision of this Guaranty shall be determined to be illegal or unenforceable, all other terms and provisions hereof shall nevertheless remain effective and shall be enforced to the fullest extent permitted by
law. 
 11. This Guaranty may be executed in the original or by telecopy or electronic transmission of a .pdf file containing an executed
signature page, in any number of counterparts, each of which will be deemed to be an original and all of which together will constitute one and the same instrument. 

[Remainder of page intentionally left blank; signature page follows] 

  
 -3- 

 IN WITNESS WHEREOF, this Guaranty has been duly executed and delivered as of the date first set
forth above. 
  

			
	ALIMENTATION COUCHE-TARD INC.
		
	By:	 	 /s/ Brian P. Hannasch

		 	Brian P. Hannasch
		 	President and Chief Executive Officer

  

			
	Accepted as of the date set forth above:
	
	CST BRANDS, INC.
		
	By:	 	 /s/ Kimberly S. Lubel

		 	Kimberly S. Lubel
		 	Chairman and Chief Executive Officer

  
 -4-

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