Document:

EX-4.1

 Exhibit 4.1 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of
                 , 2021 (the “Effective Date”), is made by and between SkyWater Technology, Inc., a Delaware
corporation (together with any successor thereto, the “Company”), CMI Oxbow Partners, LLC, a Delaware limited liability company (together with any successors thereto, “Oxbow”) and the individuals identified on
Schedule A hereto. 
 WHEREAS, on the date hereof, the Company has sold shares of common stock, par value $0.01
per share, of the Company (the “Common Stock”) in an initial public offering (the “IPO”); 

WHEREAS, as of the date hereof, Oxbow owns
                 shares of Common Stock; and 

WHEREAS, in connection with the IPO, the Company has agreed to provide the Holders (as defined herein) with the registration rights set
forth herein with respect to the shares of Common Stock held by such stockholders. 
 NOW, THEREFORE, in consideration of the
premises and the mutual covenants and conditions hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 

1. Definitions. For purposes of this Agreement, the following terms shall have the following meanings: 

“Adverse Offering Effect” has the meaning specified in Section 6(a). 

“Affiliate” means, with respect to any specified Person, (a) any Person that directly or through one or more
intermediaries controls or is controlled by or is under common control with the specified Person or (b) any Person who is a general partner, member, managing director, manager, officer, director or principal of the specified Person;
provided, in each case, that no Person will be deemed an Affiliate of Oxbow solely by reason of being an employee or consultant of the Company or any of its Subsidiaries. 

“Agreement” has the meaning specified in the preamble hereto. 

“Amendment” has the meaning specified in Section 19(a). 

“beneficial owner” and to “beneficially own” have the same meanings as in Rule 13d-3 promulgated under the Exchange Act as in effect on the date hereof. 
 “Blackout
Period” has the meaning specified in Section 9. 
 “Business Day” means each Monday,
Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in The City of New York are authorized or obligated by law or other governmental actions to close. 

“Closing Date” means the date on which the sale of the Common Stock in the IPO is consummated by the Company and the
underwriters of the IPO. 
 “Common Stock” has the meaning specified in the recitals hereof. 

“Company” has the meaning specified in the preamble hereto. 

 “Company Securities” means (a) the Common Stock and (b) all
rights, warrants, options, convertible securities or indebtedness, exchangeable securities or indebtedness, or other rights, in each case convertible into or exercisable or exchangeable for, directly or indirectly, shares of Common Stock, whether at
the time of issue or upon the passage of time or the occurrence of a future event. 
 “control” (including the terms
“controlling,” “controlled by” and “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a legal
entity, whether through the ownership of voting interests, by contract or otherwise. 
 “Demand Notice” has the meaning
specified in Section 3(b). 
 “Demand Registrable Securities” means any Registrable Securities
requested to be included in a Demand Registration by a Holder pursuant to Section 3. 
 “Demand
Registration” means any registration of Registrable Securities effected pursuant to Section 3. 

“Demand Registration Notice” has the meaning specified in Section 3(a). 

“Demand Registration Offer Notice” has the meaning specified in Section 3(a)(i). 

“Demand Registration Statement” has the meaning specified in Section 3(a). 

“Demand Registration Threshold” has the meaning specified in Section 3(a). 

“Effective Date” has the meaning specified in the preamble hereto. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor federal statute, as the same shall be
in effect from time to time. Reference to a particular section of the Securities Exchange Act of 1934, as amended, shall include reference to the comparable section, if any, of any such successor federal statute. 

“Excluded Registration” means (a) a registration of Common Stock under the Securities Act pursuant to a registration
statement filed (i) on Form S-4 or Form S-8 under the Securities Act (or any successor registration forms), (ii) in connection with dividend reinvestment plans,
direct stock purchase plans or similar plans or (iii) in connection with a registration pursuant to which the Company offers to exchange its own securities for other securities, or (b) a Rule 144A Resale Shelf Registration. 

“FINRA” means the Financial Industry Regulatory Authority, Inc. 

“Form S-3” means Form S-3 under the
Securities Act (or any successor registration form). 
 “Form S-3 Eligible” means,
as of any date of determination, the Company’s eligibility as of such date under SEC rules to register Registrable Securities pursuant to a Shelf Registration Statement on Form S-3 for offering and sale
thereunder. 
 “Free Writing Prospectus” means a free writing prospectus, as defined in Rule 433 under the Securities Act,
relating to an offer of Registrable Securities. 

  
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 “Holders” means each Person holding Class B preferred units or common
units in CMI Acquisition, LLC, a Delaware limited liability company, which units will convert into shares of Common Stock upon the Company’s conversion into the Company in connection with the IPO, and each transferee of such shares of Common
Stock in compliance with Section 17 of this Agreement. 
 “Initiating Demand Holders” has the meaning specified in
Section 3(a). 
 “IPO” has the meaning specified in the recitals hereof. 

“Lock-up Letter Transactions” means (a) offering, pledging, selling, contracting
to sell, selling any option or contract to purchase, purchasing any option or contract to sell, granting any option, right or warrant to purchase, lend or otherwise transfer or dispose of, directly or indirectly, any Company Securities (including
Company Securities that may be deemed to be beneficially owned by the applicable Person), (b) entering into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common
Stock, whether any such transaction described in clause (a) above or this clause (b) is to be settled by delivery of Common Stock or other Company Securities, in cash or otherwise, (c) making any demand that would require the filing
during the lock-up period of any registration statement, including any amendments thereto, with respect to the registration of any Company Securities, or (d) publicly disclosing any intention or
arrangement to do any of the foregoing; but excludes, if the Holder is a corporation, partnership, limited liability company, trust or other business entity, any transfer (a) to another corporation, partnership, limited liability company, trust
or other business entity that is an Affiliate of the Holder (including, for the avoidance of doubt, any wholly-owned direct or indirect Subsidiary of the Holder or to the immediate or indirect parent entity of such Holder), or to any investment fund
or other entity controlling, controlled by, managing or managed by or under common control with the Holder (including, for the avoidance of doubt, where the Holder is a partnership, to its general partner or a successor partnership or fund, or any
other funds managed by such partnership), or (b) as part of a distribution, transfer or other disposition by the Holder to its stockholders, partners, members or other equity holders. 

“Losses” has the meaning specified in Section 13(a). 

“Oxbow” has the meaning specified in the preamble hereto. 

“Oxbow Affiliated Fund” means each corporation, trust, limited liability company, general or limited partnership or other
entity under common control with Oxbow. 
 “Person” means an individual, partnership, limited partnership, joint venture,
association, corporation, trust, estate, limited liability company, limited liability partnership, unincorporated entity of any kind, governmental entity, or any other legal entity. 

“Prospectus” means the prospectus included in any Registration Statement, as amended or supplemented by any prospectus
supplement with respect to the terms of the offering of any portion of the Registrable Securities covered by any Registration Statement, and by all other amendments and supplements to such prospectus, including post-effective amendments and all
material incorporated by reference into such prospectus. 
 “Registrable Securities” means, with respect to any Holder, the
shares of Common Stock held by such Holder, including any shares of Common Stock paid, issued or distributed by way of stock dividend or distribution or stock split, or in connection with a combination of shares, recapitalization, reorganization,
merger, consolidation or otherwise, and held by such Holder. Securities shall cease to be Registrable Securities in accordance with Section 2(b). 

  
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 “Registration Expenses” means any and all expenses incident to the
Company’s performance of its registration obligations under this Agreement, including: (a) all SEC registration and filing fees and expenses incurred in connection with the preparation, printing and distribution of each Registration
Statement and Prospectus and any other document or amendment thereto and the mailing and delivery of copies thereof to each Holder and any underwriters or dealers; (b) fees and expenses of counsel to the Company; (c) fees and expenses
incident to any filing with FINRA or to securing any required review by FINRA of the terms of the sale of Registrable Securities; (d) fees and expenses in connection with the qualification of Registrable Securities for offering and sale under
state securities laws (including fees and expenses incurred in connection with blue sky qualifications of the Registrable Securities and including all reasonable fees and expenses of counsel in connection with any survey of state securities or blue
sky laws and the preparation of any memorandum with respect thereto); (e) fees and expenses incurred in connection with the listing of Registrable Securities on any securities exchange in accordance with this Agreement; (f) the internal
expenses of the Company (including all salaries and expenses of its officers and employees performing legal or accounting duties); (g) in connection with any registration, up to $40,000 of the reasonable fees and expenses of a single counsel for the
Holders selected by the Holders of a majority of the Registrable Securities that have Registrable Securities registered in connection with such registration; and (h) with respect to each registration, the fees and expenses of all independent
public accountants (including the expenses of any audit and “comfort” letters) and the fees and expenses of other persons, including experts, retained by the Company, but excluding (x) any underwriting, discounts, commissions and
fees, brokerage and sales commissions, and transfer and documentary stamp taxes, if any, relating to the sale or disposition of the Registrable Securities and (y) any fees or expenses of counsel for the Holders, other than the fees and expenses
referred to in clause (g) above. 
 “Registration Statement” means any registration statement of the Company filed
with the SEC and referred to in Section 3 or Section 4, including any Prospectus, amendments and supplements to any such registration statement, including post-effective amendments thereto, and all
exhibits and all material incorporated by reference in any such registration statement. 
 “Rule 144” means Rule 144 (or
any similar rule then in effect) promulgated by the SEC under the Securities Act. 
 “Rule 144A Resale Shelf Registration”
means a registration under the Securities Act of convertible notes, convertible preferred stock or Common Stock warrants and the underlying Common Stock for resale of such securities by the purchasers thereof acquired in an offering under the
Securities Act made to one or more investment banking firms as initial purchasers for reoffering by such initial purchasers to “qualified institutional buyers” (as defined in Rule 144A), to other institutional “accredited
investors” (as defined in Rule 501(a) under the Securities Act), or to investors outside the United States in compliance with Regulation S under the Securities Act. 

“SEC” means the Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended, or any successor federal statute, as the same shall be in
effect from time to time. Reference to a particular section of the Securities Act of 1933, as amended, shall include reference to the comparable section, if any, of any such successor federal statute. 

  
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 “Shelf Registration Demand Notice” has the meaning specified in
Section 3(b). 
 “Shelf Registration Offer Notice” has the meaning specified in
Section 3(a)(i). 
 “Shelf Registration Period” has the meaning specified in
Section 3(b)(ii). 
 “Shelf Registration Statement” means a Registration Statement for an
offering of securities to be made on a delayed or continuous basis, which covers Registrable Securities, on Form S-3 or other appropriate form under Rule 415 of the Securities Act, or any similar rule that may
be adopted by the SEC. 
 “Subsidiary” means, with respect to any Person, any corporation, limited liability company,
partnership, association or business entity of which (a) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (b) if a limited liability company, partnership, association or
other business entity (other than a corporation), a majority of limited liability company interests, partnership interests, or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one
or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons will be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity (other than
a corporation) if such Person or Persons will be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or will be or control any of the board of managers, general partner or other
similar body of such limited liability company, partnership, association or other business entity. 
 “Third-Party Security
Holder” means any holder (other than a Holder) of Common Stock or other equity securities of the Company that exercises contractual rights to participate in a registered offering of securities of the Company pursuant to an agreement other
than this Agreement. 
 “Underwritten Offering” means an underwritten offering in which securities are sold to one or more
underwriters, on a firm commitment basis, for reoffering to the public or pursuant to a “block trade” or “bought deal.” 

“voting interests” means, with respect to any legal entity, capital stock, partnership interests, limited liability company
interests or other ownership interests entitled generally to vote on the election of directors, managers or other voting members of the governing body of such legal entity. 

2. Securities Subject to this Agreement. 

(a) The Registrable Securities held in the name of any Holder are the sole securities entitled to the benefits of this Agreement. 

(b) Registrable Securities held by any Holder shall cease to be Registrable Securities (and such Holder shall cease to have any registration
rights with respect thereto under this Agreement) on the date and to the extent that (i) a Registration Statement covering such Registrable Securities has been declared effective under the Securities Act and such Registrable Securities have
been disposed of pursuant to such effective Registration Statement, (ii) such Registrable Securities have been sold or transferred in accordance with the requirements of Rule 144, (iii) such Registrable Securities have been

  
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otherwise transferred or disposed of, the Company shall have delivered the Registrable Securities either in certificated form without any legend restricting further transfer or disposition
thereof or in book-entry form on the stock transfer records of the Company without notation as to any restrictions on further transfer or disposition thereof and, at such time, subsequent transfer or disposition of such securities shall not require
registration of such securities under the Securities Act, (iv) all Registrable Securities then held in the name of such Holder may be sold or transferred by such Holder pursuant to Rule 144 without limitation or restriction under any of the
requirements of Rule 144 (as determined by the Company in good faith) or (v) such Registrable Securities have ceased to be outstanding. 

3. Demand Registration Rights. 

(a) Demand Rights. At any time, and from time to time, after the nine-month anniversary of the Effective Date, Holders holding at least
20% of the Registrable Securities then outstanding (the “Initiating Demand Holders”) may deliver to the Company a written notice (a “Demand Registration Notice”) requesting that the Company effect the registration
under the Securities Act of Registrable Securities held by such Holders having a reasonably anticipated net aggregate offering price (after deduction of underwriter discounts and commissions and offering expenses) of at least $20 million (or,
if such Registrable Securities constitute all remaining Registrable Securities beneficially owned by the Initiating Demand Holders that initiated the applicable registration, of at least $10 million) (the “Demand Registration
Threshold”) as determined in good faith by the Company at the time of its receipt of the Demand Registration Notice, which Demand Registration Notice shall specify the aggregate number of Registrable Securities requested to be registered
and the proposed method of distribution thereof. Upon receipt of the Demand Registration Notice, subject to Section 3(d), the Company will use its reasonable efforts to cause to be filed with the SEC as soon as reasonably
practicable after receiving the Demand Registration Notice, but in no event more than 60 days following receipt of such notice (or, if the Company shall be legally prohibited from making such a filing, as soon thereafter as is legally permissible),
a Registration Statement and related Prospectus that complies as to form and substance in all material respects with applicable SEC rules providing for the sale by the Initiating Demand Holders and the Holders that elect to register their
Registrable Securities as provided below, of all of the Registrable Securities requested to be registered by such Holders (the “Demand Registration Statement”), and agrees (subject to Section 8,
Section 9 and Section 11) to use reasonable efforts to cause the Demand Registration Statement to be declared effective by the SEC as soon as practicable following the filing thereof. 

(i) Within ten Business Days after its receipt of a Demand Registration Notice pursuant to Section 3(a), the Company shall
give written notice of the proposed filing of the Demand Registration Statement under this Section 3(a) or a Shelf Registration Statement under Section 3(b) to each Holder that is not an Initiating
Demand Holder (other than any Holder that has provided written notice to the Company that such Holder elects not to receive notices from the Company pursuant to this Section 3), and the notice shall offer such Holders the
opportunity to participate in the Demand Registration Statement under this Section 3(a)(i) (the “Demand Registration Offer Notice”) or to participate in the Shelf Registration Statement under
Section 3(b) (the “Shelf Registration Offer Notice”) and to register the number of Registrable Securities as each such Holder may request. Holders who wish to include their Registrable Securities in the
Demand Registration Statement under this Section 3(a)(i) or in the Shelf Registration Statement under Section 3(b) must notify the Company in writing within ten days of receiving the Demand
Registration Offer Notice or the Shelf Registration Offer Notice and include in the written notice the information requested by the Company in the Demand Registration Offer Notice or the Shelf Registration Offer Notice. 

(ii) Subject to Section 11, in the case of a Demand Registration that does not contemplate an Underwritten Offering, the
Company agrees to use reasonable efforts to keep the Demand Registration Statement continuously effective (including the preparation and filing of any amendments and supplements necessary for that purpose) until the earliest of (i) the date on which
all of the Registrable Securities held by the Holders that are registered for resale under the Demand Registration Statement are eligible for immediate sale in a single transaction pursuant to Rule 144 (or any successor provision) under the
Securities Act, (ii) the date on which the Holders consummate the sale of all of the Registrable Securities registered for resale under the Demand Registration Statement and (iii) the one-year anniversary of the effectiveness of the Demand
Registration Statement. 

  
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 (b) Shelf Registration Demand Rights. If at any time, and from time to time, when the
Company is Form S-3 Eligible, and subject to the requirements of Section 3(a), the Company receives a written notice (a “Shelf Registration Demand Notice” and
together with a Demand Registration Notice under Section 3(a), a “Demand Notice”) from an Initiating Demand Holder that the Company file a Shelf Registration Statement with respect to outstanding
Registrable Securities of such Initiating Demand Holder having a reasonably anticipated net aggregate offering price which satisfies the Demand Registration Threshold as determined in good faith by the Company at the time of its receipt, which Shelf
Registration Demand Notice shall specify the aggregate number of Registrable Securities requested to be registered in the Shelf Registration Statement and the proposed method of distribution thereof, the Company shall, subject to
Section 3(d), use its reasonable efforts to cause to be filed with the SEC as soon as reasonably practicable, but in no event more than 45 days following receipt of such notice (or, if the Company shall be legally
prohibited from making such a filing, as soon thereafter as is legally permissible), a Shelf Registration Statement and related Prospectus that complies as to form and substance in all material respects with applicable SEC rules providing for the
sale by the Initiating Demand Holders (and the Holders that elect to register their Registrable Securities as provided below) of all of the Registrable Securities requested to be registered by such Holders. The Company agrees (subject to
Section 8, Section 9 and Section 11) to use reasonable efforts to cause the Shelf Registration Statement to be declared effective by the SEC as soon as practicable
following the filing thereof. 
 (i) In connection with the receipt of any Shelf Registration Demand Notice, the Company
shall comply with the requirements of Section 3(a)(i). 
 (ii) Subject to
Section 11, the Company agrees to use reasonable efforts to keep the Shelf Registration Statement continuously effective in order to permit the Prospectus forming part thereof to be usable by Holders for a period of 180
days or such shorter period that will terminate when all the Registrable Securities covered by the Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement (in any such case, the “Shelf Registration
Period”), subject to the requirements of Section 3(e). The Company shall be deemed not to have used reasonable efforts to keep the Shelf Registration Statement effective during the Shelf Registration Period if it
voluntarily takes any action that would result in the Holders not being able to offer and sell their Registrable Securities during that period, unless the action is (i) required by applicable law, or (ii) taken by the Company in good faith
and for valid business reasons (not including avoidance of the Company’s obligation hereunder), including the acquisition or divestiture of assets, so long as the Company promptly thereafter complies with any notice requirements related
thereto. 
 (c) Underwritten Offering. If Initiating Demand Holders intend to distribute the Registrable Securities covered by their
Demand Notice by means of an Underwritten Offering, they shall so advise the Company as a part of their Demand Notice, in which case the provisions of Section 5, Section 6 and
Section 7 shall apply with respect to such Underwritten Offering. 
 (d) Notwithstanding the provisions of
Section 3(a) and Section 3(b), the Company shall not be required to take any action with respect to a registration requested pursuant to this Section 3: 

(i) if at the time of its receipt of the Demand Notice for such requested registration (other than a request for an
Underwritten Offering made in accordance with this Section 3) the Company shall have effective under the Securities Act a Shelf Registration Statement pursuant to which the Holders could effect the disposition of their
Registrable Securities according to their proposed method of distribution; 

  
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 (ii) if, within the 120-day period
immediately preceding delivery of the Demand Notice for such requested registration, the Initiating Demand Holders shall have consummated a Demand Registration; or 

(iii) during the pendency of any Blackout Period; 

provided, however, that the Company shall be permitted to satisfy its obligations under Section 3(a) or
Section 3(b) by amending (to the extent permitted by applicable law) within 30 days after a written request for registration thereunder, any Registration Statement previously filed by the Company under the Securities Act so
that such Registration Statement (as so amended) shall permit the disposition (in accordance with the intended methods of disposition, including, without limitation, an Underwritten Offering, specified by the Holders as aforesaid) of all of the
Registrable Securities for which a Demand Registration has been made pursuant to Section 3(a) or Section 3(b). If the Company shall so amend a previously filed Registration Statement, it shall be
deemed to have effected a registration for purposes of Section 3(a) and Section 3(b). 

(e) Subject to Section 3(f), a Demand Registration shall not be deemed to be effected for purposes of this
Section 3 or Section 8: (i) if the Registration Statement for such Demand Registration has not been declared effective by the SEC or become effective in accordance with the Securities Act and the
rules and regulations thereunder; (ii) in the case of a Demand Registration that does not contemplate an Underwritten Offering, if the Registration Statement therefor does not remain effective for at least the period set forth in
Section 3(a) or Section 3(b), as applicable; (iii) in the case of a Demand Registration that contemplates an Underwritten Offering, if (A) the Registration Statement therefor does not
remain effective for such period as, in the opinion of counsel for the managing underwriters thereof, is required by law for the delivery of a Prospectus in connection with the sale of Registrable Securities by an underwriter or dealer, or
(B) the conditions to closing specified in the applicable underwriting agreement are not satisfied by reason of a violation or breach of such underwriting agreement or this Agreement by the Company; or (iv) if, as a result of a
determination made by the managing underwriters of an Underwritten Offering pursuant to Section 6(a), the Initiating Demand Holders shall not be entitled to include in such Demand Registration at least 75% of the
Registrable Securities that such Initiating Demand Holders requested pursuant to Section 3(a) or Section 3(b), as applicable, to be so included in such Demand Registration. 

(f) Initiating Demand Holders may, at any time prior to the effective date of the Registration Statement relating to such Demand Registration,
or in the case of a Registration Statement that has already become effective, before the pricing of the applicable offering, revoke the Demand Notice delivered pursuant to Section 3(a) or
Section 3(b), as applicable, by providing a written notice to the Company revoking such Demand Notice. The Initiating Demand Holders shall be deemed to have effected a Demand Registration for purposes of
Section 3(e) and Section 8 in the case of any withdrawal of a Demand Registration in accordance with this Section 3(f), unless: (i) such withdrawal is based on a
reasonable determination, made by the Initiating Demand Holders holding a majority of the Registrable Securities to be included in the Registration Statement therefor, that there has been, since the date of the applicable Demand Notice pursuant to
Section 3(a) or Section 3(b), as applicable, a material adverse change in business, financial condition, results of operations or prospects of the Company; or (ii) the Initiating Demand
Holders reimburse the Company for all Registration Expenses incurred by the Company with respect to such withdrawn Demand Registration. Unless such Initiating Demand Holders otherwise agree, such Initiating Demand Holders shall provide the
reimbursement contemplated by clause (ii) of the immediately preceding sentence pro rata based on the relative number of Registrable Securities requested to be included in such withdrawn Demand Registration by each such Initiating

  
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Demand Holder. Except as otherwise contemplated by such clause (ii), no revocation pursuant to this Section 3(f) shall relieve the Company of its obligation
hereunder to pay the Registration Expenses in connection with any such request. 
 (g) Subject to the limitations set forth in
Section 6(a), the Company shall have the right to register pursuant to a Demand Registration, and the Company and Third-Party Security Holders shall have the right to include in such Demand Registration, such number of
shares of Common Stock or other equity securities of the Company as the Company and such Third-Party Security Holders may specify. 
 (h)
The Initiating Demand Holders delivering a Demand Notice pursuant to Section 3(a) or Section 3(b), as applicable, may distribute the Registrable Securities covered by such demand by means of an
Underwritten Offering or any other method of distribution permitted in accordance with the Registration Statement, with such method to be determined by the Initiating Demand Holders holding a majority of the Registrable Securities so requested to be
registered by the Initiating Demand Holders. 
 4. Piggyback Registration Rights. 

(a) If at any time after the Closing Date the Company shall propose to file a Registration Statement under the Securities Act relating to a
public offering of the Common Stock or other equity securities of the Company (other than in connection with an Excluded Registration) for the Company’s own account or for the account of any holder of the Company’s equity securities, in
each case, on a registration form and in a manner that would permit the registration of Registrable Securities for sale to the public under the Securities Act, the Company shall (i) give written notice at least 20 days before the anticipated
filing date to each Holder (other than any Holder that has provided written notice to the Company that such Holder elects not to receive notices from the Company pursuant to this Section 4(a)), specifying the approximate
date on which the Company proposes to file such Registration Statement and advising such Holder of its right to have any and all of the Registrable Securities of such Holder included among the securities to be covered thereby, subject to reduction
in accordance with Section 6, and (ii) at the written request of any such Holder given to the Company within ten days after written notice from the Company has been given to such Holder, include among the
securities covered by such Registration Statement the number of Registrable Securities which such Holder shall have requested to be so included, subject to reduction in accordance with Section 6. 

(b) Nothing in this Section 4 shall create any liability on the part of the Company to any Holder if for any reason
the Company shall decide not to file, or to delay the filing of, a Registration Statement proposed to be filed pursuant to Section 4(a) or to withdraw such Registration Statement subsequent to the filing thereof, regardless
of any action whatsoever that a Holder may have taken, whether as a result of the issuance by the Company of any notice hereunder or otherwise; provided, however, that the Company shall not be relieved of its obligation hereunder to pay the
Registration Expenses in connection with any such filing or proposed filing. 
 5. Holdback. In the case of an Underwritten
Offering of securities of the Company, each Holder agrees, if requested by the managing underwriter or underwriters of such Underwritten Offering, to enter into a lock-up agreement with the Company and the
underwriters of such Underwritten Offering, as of any date requested by such underwriters, in which such Holder shall agree that it shall not effect any Lock-up Letter Transactions during the period beginning
seven days before, and ending 90 days (or such shorter period as may be permitted by such lead managing underwriters) after, the date of the Prospectus 

  
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used in connection with such Underwritten Offering, except for the offering and sale of Registrable Securities included in such registration and except for such other transactions as are
customarily excepted from such a lock-up agreement. 
 6. Cutbacks. 

(a) In connection with any Demand Registration contemplating an Underwritten Offering, if the managing underwriters of such offering shall
give notice to the Company (it being understood that the Company shall as soon as reasonably practicable provide any such notice to all Holders who have requested to include Registrable Securities in such offering) that, in their opinion, the number
of Registrable Securities requested to be included in such offering and the number of any equity securities which the Company and any Third-Party Security Holders propose to include in such offering for sale for their respective accounts exceed the
number of Registrable Securities and such other equity securities which can be offered or sold in such offering without being reasonably likely to have a material adverse effect on the offering price, timing or distribution of the Registrable
Securities or the market for the Common Stock (an “Adverse Offering Effect”), there shall be included in such offering only the number of Registrable Securities and any such other equity securities that, in the opinion of such
managing underwriters, can be included without being reasonably likely to have an Adverse Offering Effect. In such event, the Registrable Securities and any such other equity securities shall be included in the offering pursuant to such Demand
Registration in the following priority: 
 (i) first, all of the Demand Registrable Securities which can be so
included without being reasonably likely to have an Adverse Offering Effect; and 
 (ii) second, if all of the Demand
Registrable Securities may be so included in such offering, such number of equity securities proposed to be sold by the Company and Third-Party Security Holders in such offering which can be included therein without being reasonably likely to have
an Adverse Offering Effect (with any reduction in such number being allocated among the Company and such Third-Party Security Holders in accordance with their separate agreements). 

(b) If not all of the Demand Registrable Securities may be included in such offering without being reasonably likely to have an Adverse
Offering Effect, any reduction in such number shall be allocated among the Initiating Demand Holders and all other Holders electing to participate in such offering pursuant to Section 3(a) or
Section 3(b) pro rata based on the relative number of Demand Registrable Securities beneficially owned by each such Holder as of the date on which the Demand Notice related thereto was received by the Company. 

(c) Each Holder wishing to include Registrable Securities pursuant to Section 4(a) in any offering covered by a
Registration Statement filed by the Company relating to a public offering of Common Stock or other equity securities for its own account or for the account of any security holder (other than any Holder) shall have the right to include such
Registrable Securities in any such offering only to the extent that the inclusion of such Registrable Securities shall not reduce the number of shares of Common Stock or other equity securities to be offered and sold therein for the account of the
Company or any such other security holder. In connection with the inclusion of Registrable Securities pursuant to Section 4(a) in any such offering, if the managing underwriters of an Underwritten Offering deliver a notice
to the Company (it being understood that the Company shall as soon as reasonably practicable provide any such notice to all Holders who have requested to include Registrable Securities in such offering), that, in their opinion, the number of
securities the Company proposes to sell for its own account 

  
 10 

 
or for the account of any such other security holder and the number of such Registrable Securities exceeds the number of securities which can be offered or sold in such offering without being
reasonably likely to have an Adverse Offering Effect with respect to the securities to be offered for the account of the Company or such other security holder, there shall be included in such offering only the number of Registrable Securities that,
in the opinion of such managing underwriters, can be included without being reasonably likely to have an Adverse Offering Effect. If not all of the Registrable Securities requested to be included in such offering may be so included without being
reasonably likely to have an Adverse Offering Effect, the reduction in the aggregate number of Registrable Securities that shall be included in such offering shall be allocated among the Holders who have requested Registrable Securities to be so
included pro rata based on the relative number of Registrable Securities beneficially owned by each such Holder as of the date on which the Company provides notice of its proposed filing of a Registration Statement pursuant to
Section 4(a). 
 7. Selection of Underwriters. The Initiating Demand Holders shall have the right to
select the underwriter or underwriters to administer any Underwritten Offering in connection with a Demand Registration; provided, that the underwriter or underwriters shall be reasonably acceptable to the Company. 

8. Limitations of Registration Rights. 

Notwithstanding the provisions of Section 3 and this Section 8, at such time or times as
the Company is not Form S-3 Eligible, the Initiating Demand Holders shall have the right hereunder to effect a maximum of three Demand Registrations in the aggregate, and the Company shall in no event be
obligated to take any action to effect more than three such Demand Registrations. From and after such time as the Company has become Form S-3 Eligible, and for so long as the Company remains Form S-3 Eligible, the Initiating Demand Holders shall have the right hereunder, subject to Section 3 and this Section 8, to effect an unlimited number of Demand
Registrations. 
 9. Blackout Restrictions. If the Company determines in good faith that the registration and distribution of
Registrable Securities (a) would materially impede, delay, interfere with or otherwise materially adversely affect any pending financing, registration of securities by the Company in a primary offering for its own account, acquisition,
corporate reorganization, debt restructuring or other material transaction involving the Company or (b) would require disclosure of material non-public information that the Company has a bona fide
business purpose for preserving as confidential, the Company shall be entitled to defer the filing or effectiveness of a Registration Statement, or to suspend the use of an effective Registration Statement, for the shortest period of time reasonably
required (each such period, a “Blackout Period”); provided, however, that the Company shall not be entitled to obtain deferrals or suspensions under (i) clause (a) of this Section 9 for more than an
aggregate of 90 days in any 12-month period, or (ii) clause (b) of this Section 9 on more than two occasions or for more than an aggregate of 60 days in any 12-month period; provided, further, that the Company shall not under any circumstances be entitled to obtain deferrals or suspensions for more than an aggregate of 120 days in any
12-month period. The Company shall notify each Holder of the initiation and expiration or earlier termination of a Blackout Period and, as soon as reasonably practicable after such expiration or termination,
shall amend or supplement any effective Registration Statement and the related Prospectus to the extent necessary to permit the Holders to resume use of such Prospectus in connection with the offer and sale of the Registrable Securities in
accordance with applicable law. Each Holder agrees to treat as confidential the delivery of any notice by the Company to such Holder pursuant to this Section 9 and the information set forth in any such notice. For the
avoidance of doubt, except as would otherwise constitute a Blackout Period in accordance with the first sentence of this Section 9, any period during which the directors and

  
 11 

 
officers of the Company are prohibited from purchasing, selling or otherwise engaging in transactions in securities of the Company pursuant to any internal Company policy restricting trading
during specified periods of the Company’s fiscal year or otherwise shall not be deemed a Blackout Period for purposes of this Agreement. 

10. Registration Procedures. In connection with the registration obligations of the Company under
Section 3, the Company shall: 
 (a) prior to filing a Registration Statement or related Prospectus or any
amendment or supplement thereto, furnish to a single counsel selected by the Holders holding a majority of the Registrable Securities included or to be included in such Registration Statement (and, if requested in writing by a Holder, to such
Holder) copies of such Registration Statement or Prospectus (or amendment or supplement) as proposed to be filed (including, upon the request of the Holders or counsel, documents to be incorporated by reference therein), which documents shall be
subject to the reasonable review and comments of the Holders holding the Registrable Securities included or to be included in such Registration Statement and their counsel; 

(b) prepare and file with the SEC amendments and post-effective amendments to each Registration Statement and such amendments and supplements
to the related Prospectus as may be required by the rules, regulations or instructions applicable to the registration form utilized by the Company or by the Securities Act or rules and regulations thereunder necessary to keep such Registration
Statement effective until the Holders of the Registrable Securities covered by such Registration Statement have completed the distribution related thereto or for such shorter period permitted under this Agreement; 

(c) promptly notify each Holder holding Registrable Securities covered by a Registration Statement, through its counsel, when such
Registration Statement and any amendment or post-effective amendment thereto and the related Prospectus and any amendment or supplement to such Prospectus have been filed and, with respect to such Registration Statement or any amendment and
post-effective amendment thereto, when such Registration Statement or such post-effective amendment has become effective; 
 (d) furnish to
each Holder such number of copies of the applicable Registration Statement and of each amendment and post-effective amendment thereto and the related Prospectus or Prospectus supplement as such Holder may reasonably request in order to facilitate
such Holder’s disposition of Registrable Securities (the Company hereby consenting to the use (subject to the limitations set forth in Section 11(b)) of the Prospectus or any amendment or supplement thereto in
connection with such disposition); 
 (e) promptly notify each Holder holding Registrable Securities covered by a Registration Statement,
through its counsel, at any time when the related Prospectus is required to be delivered under the Securities Act, that the Company has become aware that such Prospectus, as then in effect, includes an untrue statement of material fact or omits to
state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, and prepare and furnish to such Holder, as soon as reasonably practicable, without charge
to such Holder, a reasonable number of copies of an amendment to such Registration Statement or supplement to such Prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such Prospectus
shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; 

  
 12 

 (f) use reasonable efforts to register or qualify Registrable Securities covered by a
Registration Statement under such securities or blue sky laws of such jurisdictions as each Holder holding such Registrable Securities shall reasonably request, and to do any and all other acts and things which may be reasonably necessary to enable
such Holder to consummate the disposition in such jurisdictions of such Registrable Securities, except that the Company shall not be required for any such purpose to qualify generally to do business as a foreign corporation in any jurisdiction
where, but for the requirements of this Section 10(f), it would not be obligated to be so qualified, to subject itself to taxation in any such jurisdiction, or to consent to general service of process in any such
jurisdiction; 
 (g) make available to its stockholders, as soon as reasonably practicable, an earnings statement that shall satisfy the
provisions of Section 11(a) of the Securities Act, provided that the Company shall be deemed to have complied with this Section 10(g) if it has complied with Rule 158 under the Securities Act; 

(h) if the registration involves an Underwritten Offering, enter into a customary underwriting agreement and in connection therewith: 

(i) to the extent reasonably practicable, make such representations and warranties to the underwriters in such form and with
such substance and scope as are customarily made by issuers to underwriters in comparable Underwritten Offerings; 
 (ii) use
reasonable efforts to obtain opinions of counsel to the Company (in form, scope and substance reasonably satisfactory to the managing underwriters), addressed to the underwriters, and covering the matters customarily covered in opinions requested in
comparable Underwritten Offerings; 
 (iii) use reasonable efforts to obtain “comfort” letters and bring-downs
thereof from the Company’s independent registered public accounting firm addressed to the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “comfort” letters by independent
registered public accounting firms in connection with Underwritten Offerings; and 
 (iv) deliver such documents and
certificates as may be reasonably requested by the managing underwriters to evidence compliance with any customary conditions contained in the underwriting agreement; 

(i) cooperate with the Holders holding Registrable Securities covered by a Registration Statement and the managing underwriter or underwriters
or agents, if any, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing the securities to be sold under such Registration Statement, or the transfer of such securities into book-entry
form (not subject to any stop transfer instruction), and enable such securities to be in such denominations and registered in such names as the managing underwriter or underwriters or agents, if any, or such Holders, may request; 

(j) if reasonably requested by the managing underwriter or underwriters or a Holder holding Registrable Securities being sold in a Demand
Registration or in connection with another registration involving an Underwritten Offering, incorporate in a Prospectus supplement or post-effective amendment to the applicable Registration Statement such information as the managing underwriters and
the Holders holding a majority of the Registrable Securities being sold by all Holders agree should be 

  
 13 

 
included therein relating to the plan of distribution with respect to such Registrable Securities, including information with respect to the amount of Registrable Securities being sold to such
underwriters, the purchase price being paid therefor by such underwriters and any other terms of the Underwritten Offering of the Registrable Securities to be sold in such offering and make all required filings of such Prospectus supplement or
post-effective amendment upon being notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; 

(k) in the event of the issuance of any stop order by the SEC of which the Company is aware suspending the effectiveness of a Registration
Statement, or of any order suspending or preventing the use of any related Prospectus or suspending the qualification of any Registrable Securities included in such Registration Statement for sale in any jurisdiction, promptly notify each Holder
holding any Registrable Securities included in such Registration Statement of the issuance thereof, use its reasonable efforts to obtain the withdrawal of such stop order or other order at the earliest practicable time, and promptly notify each such
Holder of the withdrawal thereof; 
 (l) use its reasonable efforts to cause all Common Stock covered by such Registration Statement to be
listed on any securities exchange on which the Common Stock covered by such Registration Statement is not already so listed and if such listing is then permitted under the rules of such securities exchange; 

(m) provide a CUSIP number for all Registrable Securities and, unless such Registrable Securities shall be registered in book-entry form,
provide the applicable transfer agent and registrar for such Registrable Securities with printed certificates for the Registrable Securities, which certificates shall be in a form eligible for deposit with The Depository Trust Company; 

(n) cooperate with each Holder of Registrable Securities covered by a Registration Statement and each underwriter or agent participating in
the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA; 

(o) use its reasonable efforts to comply with all applicable rules and regulations of the SEC; 

(p) provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by the applicable Registration
Statement; 
 (q) make available upon reasonable notice at reasonable times during normal business hours and for reasonable periods for
inspection by one representative appointed by the Holders of a majority of the Registrable Securities covered by the applicable Registration Statement, by any managing underwriter or underwriters participating in any Underwritten Offering to be
effected pursuant to a Registration Statement, and by any attorney, accountant or other agent retained by such Holders or any such managing underwriter or underwriters, all pertinent financial and other records, pertinent corporate documents and
properties of the Company, and cause the proper officers and other employees of the Company and representatives of the independent registered public accounting firm that has certified the Company’s financial statements to make themselves
available during normal business hours to discuss the business of the Company and to supply all information reasonably requested by any such managing underwriter or underwriters or agents thereof in connection with such Registration Statement as
shall be necessary to enable such Persons to exercise their due diligence responsibility (subject to the entry by each Person referred to in this Section 10(q) into customary confidentiality agreements in a form reasonably
acceptable to the Company); and 

  
 14 

 (r) in the case of an Underwritten Offering, cause the senior executive officers of the
Company to participate in such customary “road show” presentations as may be reasonably requested by the lead managing underwriter of any such Underwritten Offering and otherwise to cooperate with and participate in customary selling
efforts related thereto. 
 11. Agreements of Holders. 

(a) As a condition to the Company’s obligation under this Agreement to cause Registrable Securities of any Holder to be included in a
Registration Statement, such Holder shall timely provide the Company with all of the information required to be provided in such Registration Statement with respect to such Holder pursuant to Items 507 and 508 (or any successor Items) of Regulation S-K under the Securities Act and such other information as otherwise may reasonably be requested by the Company to comply with applicable law in connection with such Registration Statement. 

(b) Each Holder shall comply with the prospectus delivery requirements of the Securities Act in connection with the offer and sale of
Registrable Securities made by such Holder pursuant to any Registration Statement. Upon receipt of any notice from the Company of the occurrence of any event of the kind described in Section 10(e) or
Section 10(k) or of the imposition of any Blackout Period, each Holder holding Registrable Securities shall forthwith discontinue the disposition of Registrable Securities pursuant to the Registration Statement covering
such Registrable Securities and the related Prospectus until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 10(e) or the withdrawal of any stop order or other
order referred to in Section 10(k), and, if so directed by the Company, shall deliver to the Company all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such
Registrable Securities at the time of receipt of such notice. 
 (c) Each Holder shall comply with Regulation M under the Exchange Act in
connection with the offer and sale of Registrable Securities made by such Holder pursuant to any Registration Statement. 
 12.
Registration Expenses. The Company shall pay all Registration Expenses in connection with all registrations pursuant to this Agreement to the extent provided herein. In connection with all such registrations, each Holder shall pay all
underwriting discounts, commissions and fees, brokerage and sales commissions, and transfer and documentary stamp taxes, if any, relating to the sale or disposition of such Holder’s Registrable Securities pursuant to the Registration Statement,
and, except as provided for in clause (g) of the definition of “Registration Expenses,” all fees and expenses of counsel to such Holder. 

13. Indemnification; Contribution. 

(a) The Company agrees to indemnify and hold harmless each Holder in any offering or sale of Registrable Securities pursuant to this
Agreement, each Person, if any, who participates as an underwriter in any such offering and sale of Registrable Securities, and each Person, if any, who controls such Holder or such underwriter within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act and their respective directors, trustees, officers, partners, agents, employees and Affiliates against all losses, claims, damages, liabilities and expenses (including reasonable attorneys’ fees and
expenses, as incurred, and any amounts paid in any settlement effected with the Company’s consent, which consent shall not be unreasonably withheld or delayed) (collectively, “Losses”) incurred by such party pursuant to any
actual or threatened action, suit, proceeding or investigation arising out of or based upon any untrue or alleged untrue statement of a material fact contained in, or any omission or 

  
 15 

 
alleged omission of a material fact required to be stated in, any Registration Statement, Prospectus, Free Writing Prospectus or “issuer information” filed or required to be filed
pursuant to Rule 433(d) under the Securities Act, or necessary to make the statements therein (in the case of a Prospectus, a Free Writing Prospectus or “issuer information,” in the light of the circumstances then existing) not misleading,
except in each case insofar as such statements or omissions arise out of or are based upon (i) any such untrue statement or alleged untrue statement or omission or alleged omission made in reliance on and in conformity with information with
respect to such Holder furnished in writing to the Company by such Holder or its counsel expressly for use therein, (ii) the use of any Prospectus, Free Writing Prospectus or “issuer information” after such time as the obligation of
the Company to keep effective the Registration Statement of which such Prospectus forms a part has expired or (iii) the use of any Prospectus, Free Writing Prospectus or “issuer information” after such time as the Company has advised
the Holders that the filing of an amendment or supplement thereto is required, except such Prospectus, Free Writing Prospectus or “issuer information” as so amended or supplemented. 

(b) In connection with any Registration Statement filed pursuant to this Agreement, each Holder holding Registrable Securities to be covered
thereby agrees, severally and not jointly with any other Holders, to indemnify and hold harmless the Company, each Person, if any, who participates as an underwriter in any such offering and sale of Registrable Securities and each Person, if any,
who controls the Company or such underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, and their respective directors, trustees, officers, partners, agents, employees and Affiliates, against
all Losses incurred by such party pursuant to any actual or threatened action, suit, proceeding or investigation arising out of or based upon any untrue or alleged untrue statement of a material fact contained in, or any omission or alleged omission
of a material fact required to be stated in, any Registration Statement, Prospectus, Free Writing Prospectus or “issuer information” filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or necessary to make the
statements therein (in case of a Prospectus, a Free Writing Prospectus or “issuer information,” in the light of the circumstances then existing) not misleading, but only to the extent that any such untrue statement or omission is made in
reliance on and in conformity with information with respect to such Holder furnished in writing to the Company by such Holder or its counsel specifically for use therein; provided, however, that no Holder shall be required to indemnify the Company
or any other indemnified party under this Section 13(b) with respect to any amount in excess of the amount of the gross proceeds, after deducting any underwriting discounts and commissions, received by such Holder upon the
sale of the Registrable Securities giving rise to such indemnification obligation. 
 (c) Any Person entitled to indemnification hereunder
agrees to give prompt written notice to the indemnifying party after the receipt by such indemnified party of any written notice of the commencement of any action, suit, proceeding or investigation or threat thereof made in writing for which such
indemnified party may claim indemnification or contribution pursuant to this Agreement, provided that failure to give such notification shall not affect the obligations of the indemnifying party pursuant to this Section 13
except to the extent the indemnifying party shall have been actually and materially prejudiced as a result of such failure. In case any such action shall be brought against any indemnified party and it shall notify the indemnifying party of the
commencement thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it shall so elect, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably
satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to such indemnified party for any legal
expenses of other counsel or any other expenses, in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation, unless in the reasonable judgment of any indemnified
party, based on 

  
 16 

 
the opinion of counsel, a conflict of interest is likely to exist between the indemnifying party and such indemnified party and any other of such indemnified parties with respect to such claim,
in which event the indemnifying party shall not be liable for the fees and expenses of (i) more than one counsel for all Holders holding Registrable Securities who are indemnified parties, selected by the Holders holding a majority of the
Registrable Securities held by all Holders who are indemnified parties (which selection shall be reasonably satisfactory to the Company), (ii) more than one counsel for the underwriters in an Underwritten Offering or (iii) more than one
counsel for the Company, in each case in connection with any one action or separate but similar or related actions. An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees
and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party, based on the opinion of counsel, a conflict of interest is likely to
exist between an indemnified party and any other of such indemnified parties with respect to such claim, in which event the indemnifying party shall be obligated to pay the fees and expenses of such additional counsel, provided that the indemnifying
party shall not be liable for the fees and expenses of (A) more than one counsel for all Holders holding Registrable Securities who are indemnified parties, selected by the Holders holding a majority of the Registrable Securities who are
indemnified parties (which selection shall be reasonably satisfactory to the Company), (B) more than one counsel for the underwriters in an Underwritten Offering or (C) more than one counsel for the Company, in each case in connection with
any one action or separate but similar or related actions. No indemnifying party, in defense of any such action, suit, proceeding or investigation, shall, except with the consent of each indemnified party, consent to the entry of any judgment or
entry into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such action, suit, proceeding or investigation to the
extent such liability is covered by the indemnity obligations set forth in this Section 13. No indemnified party shall consent to entry of any judgment or entry into any settlement without the consent of each indemnifying
party. 
 (d) If the indemnification from the indemnifying party provided for in this Section 13 is unavailable to
an indemnified party hereunder in respect of any Losses, then the indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such Losses in such
proportion as is appropriate to reflect the relative fault of the indemnifying party and indemnified party in connection with the actions which resulted in such Losses, as well as any other relevant equitable considerations; provided, however, that
no Holder shall be required to contribute any amount in excess of the amount of the gross proceeds, after deducting any underwriting discounts and commissions, received by such Holder upon the sale of the Registrable Securities giving rise to such
contribution obligation. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other matters, whether any action in question, including any untrue statement or alleged untrue statement of a
material fact or omission or alleged omission to state a material fact, has been made by, or relates to information supplied by, such indemnifying party or indemnified party, and the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such action. The amount paid or payable by a party as a result of the Losses referred to above shall be deemed to include, subject to the limitations set forth in Section 13(c),
any legal or other fees and expenses reasonably incurred by such indemnified party in connection with any investigation or proceeding. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The parties agree that it would not be just and equitable if contribution pursuant to this Section 13(d) were
determined by pro rata allocation or by any other method of allocation that does not take into account the consideration referred to in this Section 13(d). If indemnification is available under this
Section 13, the indemnifying parties shall indemnify each 

  
 17 

 
indemnified party to the full extent provided in Section 13(a) or Section 13(b), as the case may be, without regard to the relative fault of
such indemnifying parties or indemnified party or any other equitable consideration provided for in this Section 13(d). 

(e) The provisions of this Section 13 shall be in addition to any liability which any indemnifying party may have to
any indemnified party and shall survive the termination of this Agreement. 
 (f) The indemnification and contribution required by this
Section 13 shall be made by periodic payments of the amount thereof during the course of any action, suit, proceeding or investigation, as and when invoices are received or Losses are incurred. 

14. Confidentiality. To the extent that the information and other material in connection with the registration rights
contemplated in this Agreement (in any case, whether furnished before, on or after the date hereof) constitutes or contains confidential business, financial or other information of the Company, the Holders or their respective Affiliates, each party
to this Agreement covenants for itself and its directors, officers, employees and stockholders that it shall use due care to prevent its directors, officers, partners, members, managers, employees, counsel, accountants and other representatives from
disclosing such information to persons other than to their respective authorized employees, counsel, accountants, advisers, stockholders, partners, limited partners, managers or members (or proposed stockholders, partners, limited partners,
managers, members or advisers of such persons), and other authorized representatives, in each case, for so long as such person agrees to keep such information confidential in accordance with the terms hereof; provided, however, that each Holder or
the Company may disclose or deliver any information or other material disclosed to or received by it if the Holder or the Company is advised by its counsel that disclosure or delivery is required by law, regulation or judicial or administrative
order or process and, in any such instance, the Holder or the Company, as the case may be, making the disclosure uses reasonable efforts to consult with the Company or Holder, as applicable, prior to making any such disclosure. Notwithstanding the
foregoing, a Holder will be permitted to disclose any information or other material disclosed to or received by it hereunder and shall not be required to provide the aforementioned notice to the Company, if the disclosure is in connection with a
routine audit by a regulatory or self-regulatory authority that maintains jurisdiction over the Holder; provided, however, that the Holder must file an appropriate request seeking to have any information disclosed in connection with the routine
audit treated confidentially. For purposes of this Section 14, “due care” means at least the same level of care that such Holder or the Company would use to protect the confidentiality of its own sensitive or
proprietary information. This Section 14 shall not apply to information that is or becomes publicly available (other than to a person who has caused such information to become publicly available through a breach of this
Agreement). 
 15. Participation in Underwritten Offerings. No Holder may include Registrable Securities in any Demand
Registration or other Underwritten Offering pursuant to this Agreement unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by the Company (subject to
the rights of the Holders provided for herein), which approval shall not be unreasonably withheld, conditioned or delayed, and (b) completes and executes all questionnaires, powers of attorney, custody agreements, indemnities, underwriting
agreements and other documents reasonably required under the terms of such underwriting arrangements. 
 16. Reports Under the
Exchange Act. For so long as any Registrable Securities remain outstanding and the Company is required under the Exchange Act and rules and regulations thereunder to file with the SEC reports pursuant to Section 13 or 15(a) of the Exchange
Act, the Company shall (a) use 

  
 18 

 
reasonable efforts to satisfy the conditions of Rule 144 required thereunder to make Rule 144 available to the holders for the sale of Registrable Securities, including filing with the SEC
in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act, and (b) reasonably promptly upon written request therefor by any Holder, furnish to such Holder a written statement by the
Company as to its compliance with its reporting obligations under the Exchange Act. 
 17. Assignment of Registration Rights.
The right to cause the Company to register Registrable Securities pursuant to this Agreement may be assigned (but only with all related obligations hereunder) solely by an Holder in connection with a transfer of such Registrable Securities in
accordance with the Company’s Certificate of Incorporation (including, without limitation, by a distribution (tax-free or otherwise) of such Registrable Securities) to a Person that is either (a) an
Oxbow Affiliated Fund or (b) a Person receiving Registrable Securities in connection with an in-kind distribution by any Holder to its stockholders, partners, members or other equity holders; provided
that, in each case, as a condition to the effectiveness of any such assignment, such Person shall be required to execute a counterpart of this Agreement. Upon such Person’s execution of such counterpart, such Person shall be a Holder under this
Agreement and shall be entitled to the benefits of, and shall be subject to the restrictions contained in, this Agreement, as amended from time to time, that are applicable hereunder to the Holder from whom such rights hereunder were assigned. From
and after the date of any such effective assignment, the term “Holders” as used herein shall also refer to such Person. 

18. Binding Effect; Benefit. This Agreement shall inure to the benefit of and be binding upon the parties hereto, any Holder and
any successor and permitted assignee thereof; provided, however, that, except as provided for in Section 17, this Agreement and the provisions of this Agreement that are for the benefit of the Holders shall not be
assignable by any Holder, and any such purported assignment shall be null and void. Except to the extent provided for in Section 13, nothing in this Agreement, expressed or implied, is intended to confer upon any Person
other than the Company, the Holders and their respective successors and permitted assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement. No purchaser of Registrable Securities from a Holder shall be deemed
to be a successor or assignee of such Holder merely by reason of such purchase. 
 19. Amendments and Waivers. 

(a) The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or
consents to departures from the provisions of this Agreement, including the provisions of this sentence (each such amendment, modification, supplement, waiver or consent, an “Amendment”), may not be given, unless the Company
consents thereto and has obtained the written consent thereto of Holders holding a majority of the Registrable Securities; provided, however, that if any Amendment would materially and adversely affect any Holder disproportionately relative to any
other Holder or Holders, such Amendment shall also require the written consent of Holders holding a majority of the Registrable Securities held by all Holders so disproportionately affected. 

(b) Notwithstanding Section 19(a), an Amendment with respect to a matter that relates exclusively to the rights of
(i) Holders holding Registrable Securities whose securities are being included in a Registration Statement shall be effective only if consented to by Holders holding a majority of the Registrable Securities being included in such Registration
Statement and (ii) the Initiating Demand Holder or Initiating Demand Holders with respect to a particular Demand Registration or Underwritten Offering shall be effective only if consented to by such Initiating Demand Holder or Initiating Demand
Holders. 

  
 19 

 (c) Each Holder from time to time shall be bound by any Amendment effected pursuant to this
Section 19, whether or not any notice, writing or marking indicating such Amendment appears on the Registrable Securities or is delivered to such Holder. 

20. Notices; Designated Company Representative. All notices, demands, requests, consents or other communications to be given or
delivered under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given when (a) delivered personally to the recipient, (b) sent by confirmed facsimile or confirmed e-mail transmission before 5:00 p.m. New York City time on a Business Day, and otherwise on the next Business Day, or (c) one Business Day after being sent to the recipient by reputable overnight courier
service (charges prepaid). Such notices, demands, requests, consents and other communications shall be sent (i) if to the Company, to: SkyWater Technology, Inc., 2401 E. 86th St.,
Bloomington, Minnesota 55425, Attn: Jason Stokes, Chief Legal Officer and General Counsel, jason.stokes@skywatertechnology.com, or to such other address, facsimile number or e-mail address as the Company shall
designate in writing to the Holders from time to time, and (ii) if to any Holder, to such Holder at the address of such Holder set forth on the signature pages hereto, or to such other address of any Holder as such Holder shall designate in
writing to the Company upon becoming a Holder hereunder and from time to time thereafter. The designated representative of the Company shall be its Chief Executive Officer or such other officer as the Company shall designate in writing to the
Holders from time to time. 
 21. Interpretation. The headings contained in this Agreement are for convenience only and shall
not affect the meaning or interpretation of this Agreement. The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any
particular provision of this Agreement. 
 22. Counterparts. This Agreement may be executed in any number of counterparts,
each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. Subject to Section 25, this Agreement shall become effective as between the Company and any Holder
when the Company and such Holder shall have received a copy of counterparts hereof signed by the other party hereto. 
 23.
Governing Law. This Agreement and all claims or causes of action (whether in tort, contract or otherwise) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution or performance of this Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts laws. 

24. Submission to Jurisdiction; WAIVER OF JURY TRIALS. 

(a) Each of the parties hereto herby irrevocably acknowledges and consents that any legal action or proceeding brought with respect to this
Agreement or any of the obligations arising under or relating to this Agreement shall be brought and determined exclusively in the Court of Chancery in the State of Delaware (or, only if the Court of Chancery in the State of Delaware declines to
accept jurisdiction over a particular matter, any federal court of the United States of America sitting in the State of Delaware), and each of the parties hereto hereby irrevocably submits to and accepts with regard to any such action or proceeding,
for itself and in respect of its property, generally and unconditionally, the exclusive jurisdiction of the Court of Chancery in the State of Delaware (or, only if the Court of Chancery in the State of Delaware declines to accept jurisdiction over a
particular matter, any federal court of the United States of America sitting in the State of Delaware). Each party hereby further irrevocably waives 

  
 20 

 
any claim that the Court of Chancery in the State of Delaware (or, only if the Court of Chancery in the State of Delaware declines to accept jurisdiction over a particular matter, any federal
court of the United States of America sitting in the State of Delaware) lacks jurisdiction over such party, and agrees not to plead or claim, in any legal action or proceeding with respect to this Agreement or the transactions contemplated hereby
brought in the Court of Chancery in the State of Delaware (or, only if the Court of Chancery in the State of Delaware declines to accept jurisdiction over a particular matter, any federal court of the United States of America sitting in the State of
Delaware) that any such court lacks jurisdiction over such party. 
 (b) Each party irrevocably consents to the service of process in any
legal action or proceeding brought with respect to this Agreement or any of the obligations arising under or relating to this Agreement by the mailing of copies thereof by registered or certified mail, postage prepaid, to such party, at its address
for notices as provided for in Section 20, such service to become effective ten days after such mailing. Each party hereby irrevocably waives any objection to such service of process and further irrevocably waives and
agrees not to plead or claim in any action or proceeding commenced hereunder or under any other documents contemplated hereby, that service of process was in any way invalid or ineffective. Subject to Section 24(c), the
foregoing shall not limit the rights of any party to serve process in any other manner permitted by applicable law. The foregoing consents to jurisdiction shall not constitute general consents to service of process in the State of Delaware for any
purpose except as provided above and shall not be deemed to confer rights on any Person other than the respective parties to this Agreement. 

(c) Each of the parties hereto hereby waives any right it may have under the laws of any jurisdiction to commence by publication any legal
action or proceeding with respect to this Agreement or any of the obligations under or relating to this Agreement. To the fullest extent permitted by applicable law, each of the parties hereto hereby irrevocably waives any objection which it may now
or hereafter have to the laying of the venue of any suit, action or proceeding with respect to this Agreement or any of the obligations arising under or relating to this Agreement in the Court of Chancery in the State of Delaware (or, only if the
Court of Chancery in the State of Delaware declines to accept jurisdiction over a particular matter, any federal court of the United States of America sitting in the State of Delaware), and hereby further irrevocably waives and agrees not to plead
or claim that the Court of Chancery in the State of Delaware (or, only if the Court of Chancery in the State of Delaware declines to accept jurisdiction over a particular matter, any federal court of the United States of America sitting in the State
of Delaware) is not a convenient forum for any such suit, action or proceeding. 
 (d) The parties hereto agree that any judgment obtained
by any party hereto or its successors or permitted assignees in any action, suit or proceeding referred to above may, in the discretion of such party (or its successors or permitted assignees), be enforced in any jurisdiction, to the extent
permitted by applicable law. 
 (e) EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY SUIT, ACTION OR PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH OF THE PARTIES (I) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY SUIT, ACTION OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER AND (II) ACKNOWLEDGES THAT IT
AND THE OTHER PARTIES HAVE BEEN INDUCED TO ENTER 

  
 21 

 
INTO THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY BY, AMONG OTHER MATTERS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 24(e). 

25. Effectiveness; Termination. 

(a) Notwithstanding any other provision of this Agreement, this Agreement shall become effective on the Closing Date. 

(b) This Agreement shall terminate with respect to any Holder on the earliest to occur of (i) the date on which such Holder first ceases
to hold any Registrable Securities or (ii) the date on which such Holder notifies the Company in writing that such Holder irrevocably withdraws as a Holder under this Agreement. Notwithstanding any such termination of this Agreement by any
Holder, all rights, liabilities and obligations of such Holder and the Company under Sections 12, 13, 19, 23, 24, 25 and 27 shall remain in effect in accordance with their terms. No
termination of any provision of this Agreement shall relieve any party of any liability for any breach of such provision occurring prior to such termination. 

26. Entire Agreement. This Agreement is intended by the parties to be a complete and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein and the registration rights granted by the Company with respect to the Registrable Securities. There are no restrictions, promises, warranties or undertakings,
other than those set forth or referred to herein, with respect to the registration rights granted by the Company with respect to the Registrable Securities. No party hereto shall have any rights, duties or obligations other than those specifically
set forth in this Agreement. This Agreement supersedes all prior agreements and undertakings among the parties with respect to such registration rights. 

27. Specific Performance. Without limiting the rights of each party hereto to pursue all other legal and equitable rights
available to such party for any other parties’ failure to perform their obligations under this Agreement, the parties hereto acknowledge and agree that the remedy at law for any failure to perform their obligations hereunder would be inadequate
and that each of them, respectively, to the extent permitted by applicable law, shall be entitled to specific performance, injunctive relief or other equitable remedies in the event of any such failure, without bond or other security being required.

 28. Severability. In the event that any one or more of the provisions contained herein, or the application thereof in any
circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the parties shall negotiate in good faith with a view to the substitution therefor of a suitable and equitable solution in order to carry out, so far as may be
valid and enforceable, the intent and purpose of such invalid provision, provided, however, that the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be in
any way impaired thereby, it being intended that all of the rights and privileges of the parties hereto shall be enforceable to the fullest extent permitted by law. 

[Signature pages follow] 

  
 22 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date set forth
in the first paragraph hereof. 
  

			
	 COMPANY:

	
	 SKYWATER TECHNOLOGY, INC.

		
	By:	 	  

		 	 Name:

		 	 Title:

	
	 OXBOW:

	
	 CMI OXBOW PARTNERS, LLC

		
	By:	 	  

		 	 Name:

		 	 Title:

	
	 [Signature blocks for Common Unit Holders to be added]EX-10.6

 [***] CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL
AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. 
 Exhibit 10.6 

PROCESS TECHNOLOGY LICENSE AGREEMENT 

BETWEEN 
 CYPRESS
SEMICONDUCTOR CORPORATION 
 AND 

CYPRESS SEMICONDUCTOR (MINNESOTA) INC. 

DATED AS OF MARCH 1, 2017 

 TABLE OF CONTENTS 

 

									
	 	    	 	  	 	  	Page	 
	1.	    	Definitions	  	 	1	 
				
		    	1.1	  	Definitions	  	 	1	 
			
	2.	    	Rights and Licenses	  	 	5	 
				
		    	2.1	  	Licensor License Grant	  	 	5	 
		    	2.2	  	New PDK and Miscellaneous Technology License Grant	  	 	6	 
		    	2.3	  	Royalty Bearing Products	  	 	7	 
		    	2.4	  	Limitations and Scope	  	 	7	 
		    	2.5	  	Covenant Not to Exceed License	  	 	8	 
		    	2.6	  	Ownership	  	 	8	 
		    	2.7	  	Delivery; Additional Technology	  	 	9	 
			
	3.	    	Implementation of Licensed Process Technology	  	 	9	 
				
		    	3.1	  	Responsibility for Implementation	  	 	9	 
		    	3.2	  	Copies	  	 	9	 
		    	3.3	  	New PDK Development	  	 	10	 
			
	4.	    	Compensation	  	 	10	 
				
		    	4.1	  	Royalty Rate	  	 	10	 
		    	4.2	  	Year	  	 	10	 
		    	4.3	  	Royalty Payments	  	 	10	 
		    	4.4	  	Form of Payment	  	 	11	 
		    	4.5	  	Taxes	  	 	11	 
		    	4.6	  	Interest	  	 	11	 
		    	4.7	  	Books and Records; Audit	  	 	11	 
			
	5.	    	Disclaimer	  	 	11	 
				
		    	5.1	  	No Warranties	  	 	11	 
		    	5.2	  	Exclusion of Damages	  	 	12	 
			
	6.	    	Protection of Licensed Technology	  	 	12	 
			
	7.	    	Confidential Information	  	 	13	 
				
		    	7.1	  	Definition	  	 	13	 
		    	7.2	  	Restriction	  	 	13	 
		    	7.3	  	Additional Obligations	  	 	14	 
		    	7.4	  	Exceptions	  	 	14	 
		    	7.5	  	Compelled Disclosure	  	 	14	 
		    	7.6	  	Irreparable Harm	  	 	14	 
		    	7.7	  	Return	  	 	14	 

									
			
	8.	    	Term and Termination	  	 	15	 
				
		    	8.1	  	Term	  	 	15	 
		    	8.2	  	Termination	  	 	15	 
		    	8.3	  	Change of Control	  	 	16	 
		    	8.4	  	Effect of Termination	  	 	16	 
			
	9.	    	General Terms	  	 	16	 
				
		    	9.1	  	Notices	  	 	16	 
		    	9.2	  	Severability	  	 	17	 
		    	9.3	  	Entire Agreement	  	 	17	 
		    	9.4	  	Assignment	  	 	18	 
		    	9.5	  	No Third Party Beneficiaries	  	 	18	 
		    	9.6	  	Amendment	  	 	18	 
		    	9.7	  	Governing Law; Jurisdiction	  	 	18	 
		    	9.8	  	Counterparts and Facsimile Signature	  	 	19	 
		    	9.9	  	Construction	  	 	19	 

 Exhibits 
 Exhibit A-1 – Licensed Process Technology – Royalty Bearing 
 Exhibit A-2 –
Licensed Process Technology – Non-Royalty Bearing 
 Exhibit B-1 –
Licensed PDKs 
 Exhibit B-2 – Legacy PDK Technology 

Exhibit C – Licensed Semiconductor Technology 
 Exhibit D
– Licensed Backend Technology 
 Exhibit E – Excluded Technology 

Exhibit F – Royalty Bearing Licensed Process Technology 

  
 -ii- 

 PROCESS TECHNOLOGY LICENSE AGREEMENT 

This Process Technology License Agreement, including the Exhibits hereto (this “Agreement”), is made by and between
Cypress Semiconductor Corporation, a Delaware corporation with its principal place of business at 198 Champion Court, San Jose, CA 95134 (“Licensor”) and Cypress Semiconductor (Minnesota) Inc., a Delaware corporation with its
principal place of business at 2401 East 86th St., Bloomington, MN 55425 (“Licensee”, together with Licensor, referred to individually as a “Party” and collectively as the “Parties”). 

RECITALS 
 WHEREAS,
Licensor has entered into a Stock Purchase Agreement dated November 27, 2016 (“SPA”) with CMI Acquisition, LLC (“Acquirer”) whereby Acquirer shall acquire 100% of the ownership interest in and to Licensee from
Licensor; 
 WHEREAS, prior to the transaction contemplated by the SPA, Licensee has been a wholly-owned subsidiary of Licensor; 

WHEREAS, Licensee has used a certain semiconductor manufacturing process (the “Licensed Process Technology”, “Licensed
Backend Technology”, “Licensed Semiconductor Technology” and “Licensed PDKs” as defined below) in the Facility (as defined below); 

WHEREAS, Acquirer wishes for Licensee to be able to continue use of the Licensed Process Technology, Licensed Backend Technology,
Licensed Semiconductor Technology and Licensed PDKs after the Closing Date (as defined in the SPA); and 
 WHEREAS, Licensor is
willing to provide Licensee a limited license to the Licensed Process Technology, Licensed Backend Technology, Licensed Semiconductor Technology and Licensed PDKs under the terms and conditions set forth herein; 

NOW, THEREFORE, for and in consideration of the mutual promises and covenants contained herein, the Parties, intending to be legally
bound, hereby agree as follows: 
 1. Definitions 

1.1 Definitions. 
 All
capitalized terms used but not defined herein are as defined in the SPA. As used herein: 
 (a) “Affiliate” of any Person
means any Person that controls, is controlled by, or is under common control with such Person. As used herein, the term “control” (including the terms “controlling,” “controlled by” and “under common control
with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities or other interests, by contract or otherwise. 

 (b) “Closing Date” has the meaning set forth in the SPA. 

(c) “Change of Control” as to a Party shall mean the occurrence of one or more of the following with respect to that Party:
(i) the acquisition by any person (or related group of persons), whether by tender or exchange offer made directly to that Party’s stockholders, open market purchases or any other transaction or series of transactions, of common stock
possessing sufficient voting power in the aggregate to elect an absolute majority of the members of that Party’s Board of Directors; (ii) a merger or consolidation in which that Party is not the surviving entity, except for a transaction
in which securities representing more than fifty percent (50%) of the total combined voting power of the surviving entity are held by persons who held common stock immediately prior to such merger or consolidation; (iii) any reverse merger in
which that Party is the surviving entity but in which securities representing more than fifty percent (50%) of the total combined voting power of that Party’s outstanding securities are transferred to holders different from those who held such
securities immediately prior to such merger; or (iv) the sale, transfer or other disposition of all or substantially all of the assets of that Party. 

(d) “Effective Date” means the Closing Date as defined by the SPA. 

(e) “Excluded Technology” means (i) the semiconductor manufacturing process Technology of Licensor that is used in the
Facility as of the Closing Date that is described in Exhibit E; (ii) sort program Technology and packaging, dicing, and other assembly Technology; and (iii) any Technology other than the Licensed PDKs, Licensed Semiconductor Technology,
Licensed Backend Technology, or Licensed Process Technology. 
 (f) “Facility” means the semiconductor fabrication
facility located at 2401 East 86th St., Bloomington, MN 55425 in use by Licensee as of the Closing Date. 
 (g) “Foundry Services
Agreement” means that certain Foundry Services Agreement, dated as of the same date hereof, by and between Licensor and Licensee. 

(h) “Improvement” means any improvement, modification, derivative, enhancement to, of, and refinement of, in whole or in
part, the Licensed Process Technology, Licensed PDKs, Licensed Semiconductor Technology, Licensed Backend Technology, Licensed Background Technology, or Licensed Technical Information. 

(i) “Intellectual Property Rights” means any and all rights of the following types, which may exist or be created under the
laws of any jurisdiction in the world, whether registered or unregistered: (i) patents, industrial property and applications for patents and industrial property (collectively, “Patents”), (ii) trademarks, service marks, trade
dress, rights of publicity, rights in trade names, corporate names, and similar rights, including all registrations and applications for registration of the foregoing and all goodwill associated therewith (collectively,
“Trademarks”), (iii) rights associated with works of authorship or mask works, including and copyrights mask work rights and registrations and applications for registration thereof, regardless of the medium of fixation or means of
expression (collectively, “Copyrights”), (iv) all rights in know- how, confidential technical or business information and trade secrets (collectively, “Trade Secrets”), (v) any other proprietary rights in or to
Technology anywhere in the world. 

  
 -2- 

 (j) “Licensed Backend Technology” means the eTest and sort backend wafer
processing Technology used in the Facility as of the Closing Date, as described in Exhibit D, and any Licensed Improvements thereto made by Licensee as permitted by Section 2.1(d). 

(k) “Licensed Background Technology” means the Technology for which the Intellectual Property Rights are owned and freely
licensable by Licensor and which (i) is documented (in the form of written records or electronic data) in the books and records of the Facility as of the Closing Date, (ii) has been used in the manufacture of Licensed Products or the
operation of the Facility prior to, but which is not in use at the Facility as of, the Closing Date, and (iii) is not Excluded Technology or Licensed Technology. 

(l) “Licensed Improvement” means any Licensor Improvement to the Licensed Process Technology or the Licensed Backend
Technology which does not change the scope of the application of the Licensed Process Technology or the Licensed Backend Technology (as applicable) and would not generally be considered in the industry as a new process, excluding any Improvements to
the ONO Stack Process. 
 (m) “Licensed Intellectual Property” means (i) the Intellectual Property Rights (excluding
Patents) owned by Licensor (or which Licensor has the right to license consistent with the terms hereof with no cost to Licensor) which are embodied in the Licensed Process Technology, Licensed PDKs, Licensed Semiconductor Technology, Licensed
Backend Technology, Licensed Background Technology, or Licensed Technical Information and (ii) the Licensed Patents. Notwithstanding anything to the contrary, the “Licensed Intellectual Property” does not include any
(A) Intellectual Property Rights covering Excluded Technology; or (B) any rights in any rights in trade names, trade dress, logos, packaging design, slogans, Internet domain names, registered or unregistered trademarks or services marks or
registrations. 
 (n) “Licensed Patent” means any Patent owned by Licensor (or which Licensor has the right to license
consistent with the terms hereof with no cost to Licensor) as of the Effective Date that, absent a license, is infringed by the use of the Licensed Process Technology, Licensed PDKs, Licensed Semiconductor Technology, Licensed Background Technology,
or Licensed Backend Technology by Licensee in the Facility as of the Effective Date. 
 (o) “Licensed PDK(s)” means the
process design kits (PDKs) for the Licensed Process Technology, as described in Exhibit B-1. 
 (p)
“Licensed Product” means (i) a semiconductor device, at whatever stage of completion in the manufacturing process, in die, wafer or chip form, or any other device or item of value, in each case for which the design is owned by
Licensee or a third-party customer of Licensee or (ii) a Licensor Product. 

  
 -3- 

 (q) “Licensed Process Technology” means only that Licensor semiconductor
manufacturing process Technology used in the Facility as of the Closing Date as described in Exhibits A-1 and A-2, and any Licensed Improvements thereto made by
Licensee as permitted by Section 2.1(d) and the associated Licensed PDKs. Notwithstanding anything to the contrary, Licensed Process Technology expressly excludes the Excluded Technology described in Exhibit E. 

(r) “Licensed Semiconductor Technology” means (i) IP blocks, (ii) standards cells, and (iii) other
semiconductor design technology, in each case for which the Intellectual Property Rights are owned by Licensor (or which Licensor has the right to license consistent with the terms hereof with no cost to Licensor) and in each case as described in
Exhibit C, and in each case that are used to design integrated circuits for manufacture in the Facility as of the Closing Date. 

(s) “Licensed Technical Information” means the existing documentation (in tangible or electronic form), information, data
and materials used in the Facility, or otherwise in Licensor’s possession, as of the Closing Date relating to or necessary for describing the Licensed Process Technology. 

(t) “Licensed Technology” means, collectively, the Licensed Process Technology, Licensed Backend Technology, Licensed PDKs,
Legacy PDK Technology, Licensed Semiconductor Technology, Licensed Background Technology, Miscellaneous Technology, and Licensed Technical Information. 

(u) “Licensee Improvement” means any Improvement to the Licensed Technology made solely by Licensee, other than any
Improvement with respect to any of the Royalty Bearing Licensed Process Technologies or the ONO Stack Process. 
 (v) “Licensor
Improvement” means any Improvement other than a Licensee Improvement, regardless of which Party makes the Improvement. 
 (w)
“Licensor Product” means a semiconductor device, at whatever stage of completion in the manufacturing process, in die, wafer or chip form, manufactured by Licensee for or on behalf of Licensor, including for Licensor’s
customers and supplied to Licensor or to a third party on behalf of Licensor pursuant to the Foundry Services Agreement. 
 (x)
“Miscellaneous Technology” means the following Licensor proprietary software programs to the extent, and in the form, used in the Facility as of the Closing Date: (i) “Tool Automation” and (ii) “Test Program
Management System” (TPMS). 
 (y) “ONO Stack Process” means the Licensed Process Technology that is the flow portion
starting from the oxide-nitride-oxide (ONO) bottom oxide pre-clean and ending at the top oxide deposition, including the ONO Process Recipe (as defined below). 

  
 -4- 

 (z) “Royalty Bearing Licensed Process Technology” means the Licensed
Process Technology specified in Exhibit F hereto or any derivative process, including any Licensed Improvements thereto. 
 (aa)
“Royalty Bearing Product” means any semiconductor product, including any Licensed Product, made using the Royalty Bearing Licensed Process Technology, provided that Licensor Products shall not be Royalty Bearing Products. 

(bb) “Royalty Rate” is defined in Section 4.1 (Royalty Rate). 

(cc) “Sales Revenue” means: (i) the total amount received by Licensee for the sale or other disposal of all Royalty
Bearing Products to third party customers in arm’s length transactions, after deduction of taxes, duties or other governmental charges imposed on the sale of such products; refunds for returned product; trade, quantity, promotional and other
customary discounts actually allowed; and freight and packing actually charged on such sales and separately itemized; or if the respective Royalty Bearing Product is sold or otherwise disposed of in a
non-arm’s length transaction or in combination with other products where the price attributed to the Royalty Bearing Product is less than the average price for sales during the previous three month period
as determined in accordance with “(i)” above, then the Sales Revenue means (ii) such average arms-length sales price determined in accordance with “(i)” above. 

(dd) “Technology” means embodiments of Intellectual Property Rights, including databases, data collections, diagrams,
formulae, process technology, recipes, test suites, mask works, reticles, documentation, know-how, proprietary information, software, works of authorship, and other forms of technology (whether or not embodied
in any tangible form and including all tangible and electronic embodiments of the foregoing). 
 2. Rights and Licenses 

2.1 Licensor License Grant. Licensor hereby grants to Licensee a worldwide, non-exclusive,
non-sublicensable license: 
 (a) under the Licensed Intellectual Property in the Licensed Process Technology and Licensed Backend
Technology, to practice any methods disclosed thereby and use any equipment at the Facility for the manufacture, sale, offer for sale, or disposal by Licensee of Licensed Products; 

(b) under the Licensed Intellectual Property in the Licensed PDKs, to copy, create derivative works of, distribute, and disclose (under a non-disclosure agreement at least as protective as the non-disclosure and security requirements of this Agreement) the Licensed PDKs to Licensee’s third-party customers,
to the minimum extent required, for the sole purpose of permitting such customers to design, or have designed, integrated circuits for use, sale and manufacture by Licensee at the Facility using the Licensed Process Technology as permitted in
Section 2.1(a); 

  
 -5- 

 (c) under the Licensed Intellectual Property in the Licensed Semiconductor Technology, to
disclose (under a non-disclosure agreement at least as protective as the non-disclosure and security requirements of this Agreement) the Licensed Semiconductor
Technology with the Licensed PDKs to Licensee’s third-party customers, to the minimum extent required, for the sole purpose of permitting such customers to design, or have designed, integrated circuits for use, sale and manufacture by Licensee
at the Facility using the Licensed Process Technology as permitted in Section 2.1(a); 
 (d) under the Intellectual Property Rights of
Licensor in the Licensed Improvements made by Licensee, to make such Licensed Improvements, and practice any methods disclosed thereby, for use as permitted in Section 2.1(a); 

(e) under the Licensed Intellectual Property in the Licensed Technical Information, to use, copy, and prepare derivative works based on the
Licensed Technical Information for use solely to exercise Licensee’s license rights set forth in Section 2.1(a); and 
 (f) under
the Licensed Intellectual Property Rights in the Licensed Background Technology, to use the Licensed Background Technology at the Facility for the manufacture, sale, offer for sale, or disposal by Licensee of Licensed Products using the Licensed
Process Technology as permitted in Section 2.1(a) or otherwise as necessary to exercise the other rights expressly granted to Licensee under this Agreement. 

2.2 New PDK and Miscellaneous Technology License Grants.     

(a) Licensor shall include with the Licensed Technology certain legacy PDKs and certain process specifications as described on Exhibit B-2 (together, the “Legacy PDK Technology”) to enable the Licensee to undertake to develop, or have developed (subject to Section 3.3 below), certain new PDKs (the “New PDKs”)
for use by Licensee in providing foundry services to third parties. Accordingly, Licensor hereby grants to Licensee, under Licensor’s Intellectual Property Rights in such Legacy PDK Technology, a perpetual,
non-exclusive, non-transferable (except as permitted under Section 9.4), royalty-free, non-sublicensable license to, copy, create derivative works of, and disclose
(under a non-disclosure agreement at least as protective as the non-disclosure and security requirements of this Agreement) the Legacy PDK Technology for the purpose of
developing or having developed the New PDK and to distribute and disclose (under a non-disclosure agreement at least as protective as the non-disclosure and security
requirements of this Agreement) the New PDKs to Licensee’s third-party customers, to the minimum extent required, for the sole purpose of permitting such customers to design, or have designed, integrated circuits for manufacture by Licensee at
the Facility using the Licensed Process Technology as permitted in Section 2.1(a). 
 (b) Licensor hereby grants to Licensee, under
Licensor’s Intellectual Property Rights in the Miscellaneous Technology and on an as-is basis without any warranty of any kind, a perpetual, non-exclusive, non-transferable (except as permitted under Section 9.4), royalty-free, non-sublicensable license to use the Miscellaneous Technology at the Facility in accordance with any applicable documentation made
available by Licensor for the manufacture, sale, offer for sale, or disposal by Licensee of Licensed Products using the Licensed Process Technology as permitted in Section 2.1(a). 

  
 -6- 

 2.3 Royalty Bearing Products. Licensee’s license to the Royalty Bearing Licensed
Process Technology (the “Royalty Bearing License”) shall be royalty bearing and Licensee shall pay the Royalties specified in Section 4 on all Royalty Bearing Products manufactured or sold by it. No other Licensed Products
shall be Royalty Bearing Products hereunder. Licensee’s license to the Licensed Technology other than the Royalty Bearing Licensed Process Technology (the “Royalty Free License”) shall be royalty free. 

2.4 Limitations and Scope. 

(a) For one (1) year following the Effective Date (the “Terminable Period”), the Royalty Free License shall be
terminable (as set forth Section 8), non-transferable (except as permitted under Section 9.4) and non-sublicensable. Following the end of the Terminable Period, Licensee’s Royalty Free License
shall become perpetual, irrevocable and non-terminable. 
 (b) Licensee’s Royalty Bearing
License shall be non-sublicensable and non-transferable (except as permitted under Section 9.4). 

(c) The Licensed Process Technology and the Licensed Backend Technology may be used by Licensee only at the Facility and may not be
transferred to, or used in, any other facility. 
 (d) The Parties acknowledge and agree that nothing contained in this Agreement shall be
construed as: 
 (i) an agreement by Licensor to bring or prosecute actions or suits against third parties for infringement of Intellectual
Property Rights or any other right, or conferring any right upon Licensee to bring or prosecute actions or suits against third parties for infringement of Intellectual Property Rights or any other right; 

(ii) conferring on Licensee any right to use in advertising, publicity or otherwise any Licensor trademark, trade name or names, or any
contraction or abbreviation thereof; or 
 (iii) an obligation upon Licensor to furnish any technical information or know-how except as otherwise specifically provided herein. 
 (e) Notwithstanding the provisions of
Section 2.1 (Licensor License Grant), no license to any Excluded Technology is granted or implied hereunder, and Licensor shall retain the right to assert its rights under any Licensor Intellectual Property Rights against any Licensee or any
third party with respect to infringement of Licensor’s Intellectual Property Rights by any Excluded Technology. 

  
 -7- 

 (f) Licensor does not confer on Licensee or any third party, by implication, estoppel or
otherwise, any license or other right, except for the licenses and rights expressly granted hereunder to Licensee. 
 2.5 Covenant Not to
Exceed License. Licensee covenants that Licensee shall not exceed the scope of the foregoing licenses. For the avoidance of doubt and notwithstanding anything to the contrary, (i) the Parties acknowledge and agree that no license is granted
(expressly, by implication, by estoppel, or otherwise) under this Agreement with respect to the Licensed Products or other products or devices of the Licensee’s customers or any designs or circuitry thereof (including those designed using the
Licensed PDKs or Licensed Semiconductor Technology), (ii) Licensee agrees and acknowledges that the Licensor Products may be manufactured for, or supplied, offered for sale, or sold to, Licensor only and no other Person and Licensee shall not, and
shall not permit any third Person to, otherwise use or exploit any Licensor Products, and (iii) Licensee may not make any Improvements to the ONO Stack Process. 

2.6 Ownership. 
 (a) As
between Licensor and Licensee, (i) Licensor retains and shall own all right, title and interest (including Intellectual Property Rights) in and to the Licensed Technology and the Licensor Improvements and (ii) Licensee shall own all right,
title, and interest (including Intellectual Property Rights) in and to the Licensee Improvements and the New PDK (subject to Licensor’s retained rights in the Legacy PDK Technology). Without any further consideration, Licensee hereby
irrevocably transfers, conveys, and assigns to Licensor in perpetuity (and shall continue to irrevocably transfer, convey, and assign to Licensor in perpetuity) all of its right, title, and interest in and to all Licensor Improvements (existing now
or during the Term of this Agreement). Licensor shall have the exclusive right to apply for Intellectual Property Rights for the Licensor Improvements as it wishes and the exclusive right to enforce such Intellectual Property Rights. Licensee agrees
to execute such documents, render such assistance, and take such other action as Licensor may reasonably request, at Licensor’s expense, to apply for, register, perfect, confirm, and protect Licensor’s rights in the Licensor Improvements.
Licensor reserves all rights not explicitly granted in this Agreement. 
 (b) Licensee hereby grants to Licensor to a perpetual,
irrevocable, non-exclusive, transferable, royalty-free, fully paid-up, worldwide, sublicensable license to use, modify, or reproduce, in whole or in part, the Licensee
Improvements to make, have made, use, sell, offer for sale, import, and distribute semiconductor devices. 
 (c) During the Term, Licensee
shall deliver to Licensor, without additional compensation, information, data and materials relating to, necessary for, describing and/or relating to Improvements made by Licensee in the form in which such information, data and materials then exist,
at meetings scheduled by Licensor and Licensee at a mutually agreed time at the Facility no more frequently than once each calendar quarter, it being agreed and acknowledged that Licensee shall have no obligation to specially prepare additional
materials describing such Improvements that are not in Licensee’s possession. All such information, data and materials relating to Licensee Improvements shall be considered to be Licensee’s confidential information and shall be treated in
the same manner by Licensor as Licensee is required to treat Licensor’s Confidential Information under Section 7 of this Agreement. 

  
 -8- 

 2.7 Delivery; Additional Technology. The Parties expect all material embodiments of
the Licensed Technology to be at the Facility as of the Closing Date. To the extent that any such material embodiments of the Licensed Technology other than Licensed Background Technology are not at the Facility as of the Closing Date, upon written
notice from Licensee, Licensor will deliver them to Licensee in accordance with Section 5.2(f) of the SPA. Notwithstanding anything to the contrary, Licensor has no obligation to deliver or make available any Licensed Background Technology to
Licensee under the terms of this Agreement; provided, however, that, upon Licensee’s request, Licensor shall use reasonable efforts to provide to Licensee the technical information with respect to such Licensed Background Technology that
exists, and is in Licensor’s possession, as of the Closing Date. To the extent that Licensee wishes to license from Licensor any Technology for which the Intellectual Property Rights are owned by Licensor (other than the Licensed Technology),
then upon written notice from Licensee, the Parties will negotiate in good faith a separate license agreement therefor. 
 3.
Implementation of Licensed Process Technology 
 3.1 Responsibility for Implementation. Licensee shall be solely responsible for
the implementation of the Licensed Process Technology and Licensed Backend Technology in the Facility; provided, however, that the Parties may agree for Licensor to provide services to Licensee such as transition services, and Licensor’s
obligation to provide any such services shall then be limited to those expressly required in a signed, written agreement for such services (including the Transition Services Agreement (as defined in the SPA)). Upon Licensee’s written request,
Licensor will provide reasonable assistance to Licensee in its efforts to (i) transfer the Licensed PDK packages from Licensor’s interlocked CAD tools to stand alone kits for use by Licensee’s third-party customers as permitted in
Section 2.1(b) and (ii) convert the Licensed Semiconductor Technology to standalone documents without links to Licensor’s memos or databases for use by Licensee as permitted in Section 2.1(c). Other than as set forth in
Section 2.7, Licensor has no obligation to deliver any technical information under this Agreement that is not already being used in the Facility at the Closing. In the event that Licensor does deliver any technical information, Licensee shall
bear its own costs, including reproduction, shipping and handling, and telecommunications costs associated with or incurred in the delivery or receipt of any technical information hereunder. For clarity, Licensor shall deliver the specifications
identified in the Exhibits to Licensee in electronic form. 
 3.2 Copies. Licensee may copy, modify and otherwise use the Licensed
Technical Information in accordance with and subject to the restrictions and licenses set forth herein (including the obligations under Sections 6 and 7) solely as necessary to exercise the rights granted hereunder. Licensee agrees to maintain a
document control system after the time frame covered by corresponding services therefor, if any, under the Transition Services Agreement to control copies of such Licensed Technical Information and to otherwise treat such information as
Licensor’s Confidential Information. 

  
 -9- 

 3.3 New PDK Development. Licensee shall be solely responsible for the development of
the New PDK. Notwithstanding the foregoing, if Licensee engages a third party developer to develop the New PDK, Licensor will reimburse Licensee for up to $150,000.00 of reasonable and customary out-of-pocket development costs incurred by Licensee and paid within 12-months from the date of this Agreement. Licensor will reimburse Licensee for such costs within
forty-five (45) days of receiving an invoice detailing such costs and evidence that they have been paid by Licensee. 
 4.
Compensation 
 4.1 Royalty Rate. The “Royalty Rate” is payable as a percentage of Sales Revenue and shall be as
set forth in the following table: 
  

													
	 	  	Year 1	 	  	Year 2	 	  	Year 3 and beyond	 
	 Royalty Rate
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 

 4.2 Year. The Royalty Rate is applicable to sales made in each consecutive 52-week period during the Term, with Year 1 for each Royalty Bearing Licensed Process Technology commencing on the date a corresponding Royalty Bearing Product is first sold (each, a “Year”). 

4.3 Royalty Payments. 

(a) Within forty-five (45) days after the last day of each quarter of each Year, Licensee shall pay to Licensor a royalty equal to the
product of (i) the Royalty Rate and (ii) Sales Revenue (the “Royalty”). 
 (b) A Royalty Bearing Product
shall be considered “sold” on the first to occur of (i) Licensee receiving payment for such Royalty Bearing Product, (ii) a third party being billed or invoiced for such Royalty Bearing Product, or (iii) such Royalty Bearing
Product being shipped regardless of actual receipt of payment. 
 (c) Licensee shall provide Licensor with a written royalty statement in a
form reasonably acceptable to Licensor. At a minimum, such royalty statement shall recite per country the Royalty Bearing Products, units sold, description, quantity shipped, gross invoice, total amount billed customers (including taxes, packing,
freight and all other charges), and calculated Sales Revenue for each Royalty Bearing Product and Sales Revenue by process technology category. Such statement shall be furnished to Licensor within fifteen (15) days after the last day of each
quarter, regardless of whether any Royalty Bearing Products were sold during the quarter or whether any actual Royalty was owed. 

  
 -10- 

 4.4 Form of Payment. All payments provided for in this Section 4 (Compensation)
shall be made to Licensor in U.S. dollars by electronic transfer to an account designated by Licensor in writing. 
 4.5 Taxes. All
payments provided for in this Section 4 (Compensation) shall be made by Licensee without deduction for value added, sales or other taxes or other withholdings. To the extent that Licensee is required to withhold such payments from such
Royalties by law, it shall gross up the amounts paid hereunder to be equal to what they would have been absent such taxes or withholdings. Licensee shall provide to Licensor proof of payment in a form satisfactory to Licensor of the amount of any
taxes paid by Licensee in connection with the payments provided for in this Section 4 (Compensation). In the event that withholding taxes apply, Licensor agrees to apply for an exemption certificate from withholding taxes of the applicable
jurisdiction and provide the appropriate documentation to Licensee. Further, the Parties shall cooperate, to the extent permitted by law, in recovering any taxes or other withholding paid on payments made by Licensee to Licensor hereunder. 

4.6 Interest. In addition to any other remedy available to Licensor for late payment, Licensee shall pay Licensor interest, on any
undisputed amount not paid when due, at the rate of [***] per month, or the maximum rate allowed by law, whichever is less, for each month, or part month, calculated from the date which the royalties are otherwise due. 

4.7 Books and Records; Audit. For a period of three (3) years after sale of the respective Royalty Bearing Products, Licensee
shall keep complete and accurate records appropriate to determine payments due under this Agreement. At the request and expense of Licensor, no more often than once per quarter, an independent certified public accountant designated by Licensor shall
have access to such records maintained by Licensee as may be useful to: (i) determine, with respect to any of the three (3) preceding years, the correctness of any report or payment made under this Agreement; or (ii) obtain
information as to the royalty payments due in the case of Licensee’s failure to report or pay such royalty pursuant to this Agreement. In the event that the dollar amount of payments reported for any quarter underreports by more than [***] the
actual amount due, as determined by said accountant, Licensee shall pay to Licensor the actual payment due, including interest as set forth in Section 4.6 (Interest), and reimburse to Licensor the costs for the audit. 

5. Disclaimer 
 5.1 No
Warranties. LICENSOR MAKES NO, AND DISCLAIMS ALL, WARRANTIES, EXPRESS, STATUTORY OR IMPLIED, UNDER THIS AGREEMENT WITH RESPECT TO ANY LICENSED PRODUCT, LICENSED PROCESS TECHNOLOGY, LICENSED PDKS, LEGACY PDK TECHNOLOGY, LICENSED SEMICONDUCTOR
TECHNOLOGY, LICENSED BACKEND TECHNOLOGY, LICENSED BACKGROUND TECHNOLOGY, MISCELLANEOUS TECHNOLOGY, AND LICENSED TECHNICAL INFORMATION, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. Without limiting the 

  
 -11- 

 
foregoing, Licensor does not make any warranty under this Agreement that any Licensed Product or any Improvement or the practice of the Licensed Process Technology, Licensed PDKs, Legacy PDK
Technology, Licensed Semiconductor Technology, Licensed Backend Technology, Licensed Background Technology, Miscellaneous Technology, or Licensed Technical Information shall be free from infringement of any Patent. Licensee shall be responsible for
obtaining all third-party Patent licenses necessary for Licensee to exercise its rights hereunder. All warranties with respect to any of the foregoing are solely as set forth in the SPA. 

5.2 Exclusion of Damages. EXCEPT FOR ANY INFRINGEMENT OR VIOLATION BY A PARTY OF THE OTHER PARTY’S INTELLECTUAL PROPERTY RIGHTS OR
BREACH OF SECTIONS 2.4, 2.5, 6, OR 7, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER FOR LOST PROFITS, COST OF PROCUREMENT OF SUBSTITUTE GOODS, OR FOR ANY INDIRECT, SPECIAL, RELIANCE, INCIDENTAL OR CONSEQUENTIAL DAMAGES, WHETHER BASED ON
BREACH OF CONTRACT, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY, OR OTHERWISE, AND WHETHER OR NOT THE OTHER PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. 

6. Protection of Licensed Technology. Without limiting Licensee’s obligations under Section 7, Licensee shall use its best
efforts to prevent any benefit to unauthorized third parties due to Licensee’s access to the ONO Stack Process, including by taking the following steps: 

(i) Licensee shall diligently safeguard the Licensed Technology with at least the same degree of care Licensee uses to protect its own
confidential information of like importance, but never less than a reasonable standard of care and Licensee shall provide procedures to ensure that the ONO Stack Process is distinguishable from other Technology, information, and materials, including
properly marking any and all copies of the ONO Stack Process and informing employees, contractors, and consultants of the confidential and proprietary status of such ONO Stack Process, and to maintain the confidentiality of the ONO Stack Process in
the manner as described in this Section 6 and Section 7. Without limiting the foregoing, Licensee shall not remove any “confidential,” “proprietary,” or other similar marking on any of the Licensed Technology and will
reproduce all such markings on any copies thereof. 
 (ii) Licensee shall use its best efforts to prevent the unauthorized distribution or
use of, or access to, the ONO Stack Process in Licensee’s control, provided that in no event shall Licensee use less than the same procedures and standards that Licensor uses as of the Closing Date to prevent unauthorized distribution or use
of, or access to, the ONO Stack Process; 
 (iii) Licensee shall ensure that it has in place all necessary contracts with the officers,
directors, agents, employees, subcontractors and/or any person who has the opportunity to access the ONO Stack Process to properly effect all the protective measures under this Agreement; 

(iv) If a security compromise related to the ONO Stack Process is caused by or results primarily from the acts or omissions of Licensee,
Licensee shall be responsible for responding to and containing such security compromise and shall reimburse Licensor for any and all damages and expenses incurred in connection with investigating, mitigating or defending any such security breaches;
and 

  
 -12- 

 (v) The process and manufacturing protocols and recipes (including the oxide-nitride-oxide
(ONO) process recipe) (“Process Recipes”) are considered highly confidential trade secret information, critical to the Licensed Process Technology. Licensee shall keep the Process Recipes in strict confidence. Licensee may disclose
Process Recipes (other than the ONO Process Recipe) solely to its employees and its temporary workers (such as those provided by a staffing agency) that are under Licensee’s direct supervision and control, and customers and suppliers solely to
the extent necessary for joint technology development that Licensee and such customers engage in with respect to the Licensed Products, in each case having: (a) a need to know such Process Recipe to exercise the rights granted to Licensee under
this Agreement solely on behalf of Licensee, and (b) agreed in writing to terms at least as restrictive and protective as those in this Agreement. Notwithstanding the foregoing and anything to the contrary, Licensee will only permit dedicated
Licensee employees identified and approved by Licensor in advance to access the ONO Stack Process and Licensee shall ensure that each such Licensee employee with access to the ONO Stack Process executes and delivers to Licensor a Licensor-provided
restricted use non-disclosure agreement prior to such access. Licensor shall have the right to review Licensee’s security procedures with respect to the ONO Stack Process and the number of wafers run in
the ONO furnace. 
 7. Confidential Information 

7.1 Definition. Licensee acknowledges that “Confidential Information” of Licensor is located at the Facility.
“Confidential Information” means the Licensed Technical Information, any information relating to the Licensed Process Technology, Licensed PDKs, Legacy PDK Technology, Licensed Semiconductor Technology, Licensed Backend Technology,
Licensed Background Technology, Miscellaneous Technology, or Excluded Technology (regardless of whether it is designated “Confidential”), and other information or materials designated as “Confidential” in writing by Licensor or
learned by Licensee under circumstances in which such information would reasonably be understood to be confidential. 
 7.2
Restriction. Licensee agrees not to use Confidential Information or disclose, distribute or disseminate such Confidential Information except as allowed under this Agreement or as otherwise expressly agreed in writing by Licensor. Licensee
agrees to restrict access to such Confidential Information to those employees, contractors or consultants of Licensee who have agreed to be bound by a confidentiality obligation not less protective than that contained in this Agreement. Licensee
agrees to establish adequate internal safeguards and otherwise use reasonable care in restricting the use and dissemination of any Confidential Information in order to protect against its unauthorized use or disclosure to any third party. Licensee
shall exercise the same degree of care to prevent unauthorized use or disclosure of the Confidential Information to others as it takes to preserve and safeguard its own confidential information, but in any event, no less than a reasonable degree of
care. For clarity, nothing in this Section 7 shall limit the obligations in Section 6. 

  
 -13- 

 7.3 Additional Obligations. Licensee shall reproduce the Licensor’s proprietary
rights notices on any permitted copies of Confidential Information, in the same manner in which such notices were set forth in or on the original. Licensee agrees to maintain a document control system to control copies of any Confidential
Information after the time frame covered by corresponding services therefor, if any, under the Transition Services Agreement. Confidential Information or other materials which have been disclosed by Licensor under this Agreement, and all copies
thereof which are in the possession of the Licensee, shall be and remain the property of the Licensor. 
 7.4 Exceptions. Licensee
shall be relieved of this obligation of confidentiality to the extent Licensee can demonstrate that Licensor information: 
 (a) was in the
public domain at the time it was disclosed to Licensee or has become in the public domain through no fault of Licensee; 
 (b) was known to
Licensee, without restriction, at the time of disclosure as shown by the files of the Licensee in existence at the time of disclosure; 

(c) is disclosed by Licensee with the prior written approval of Licensor; 

(d) was independently developed by Licensee without any use of Confidential Information by employees or other agents of (or independent
contractors hired by) Licensee who have not had access to any Confidential Information; provided that this exception does not apply to the ONO Process Recipe; or 

(e) becomes known to Licensee, without restriction, from a source other than Licensor without breach of this Agreement by Licensor and
otherwise not in violation of Licensor’s rights. 
 7.5 Compelled Disclosure. If Licensee believes that it will be compelled by
a court or other authority to disclose Confidential Information of Licensor it shall give Licensor prompt written notice so that Licensor may take steps to oppose such disclosure. 

7.6 Irreparable Harm. Licensee acknowledges that breach of the confidentiality obligation would cause irreparable harm to Licensor, the
extent of which may be difficult to ascertain. Accordingly, Licensee agrees that Licensor is entitled to immediate injunctive relief in the event of breach of the confidentiality obligation by Licensee, and that Licensor shall not be required to
post a bond or show irreparable harm in order to obtain such injunctive relief. 
 7.7 Return. Within forty-five (45) days after
termination of this Agreement, Licensee shall immediately cease using all Confidential Information and promptly return or destroy (at Licensor’s option) all tangible materials containing any such Confidential Information (including all copies
thereof) to Licensor. Concurrently with the return or destruction of such materials, Licensee agrees to confirm in writing that all materials containing Confidential Information have been returned to Licensor or destroyed (as applicable) by
Licensee. 

  
 -14- 

 8. Term and Termination 

8.1 Term. The term of this Agreement shall commence on the Effective Date and shall continue until terminated in accordance with this
Section 8.2 (the “Term”). 
 8.2 Termination. 

(a) Licensor may terminate this Agreement in the event of a material breach of this Agreement or the SPA by Acquirer or Licensee, such as the
breach of the license of Sections 2 (Rights and Licenses), 4 (Compensation) or 7 (Confidential Information), which breach has not been cured within thirty (30) days of written notice thereof from Licensor to Licensee specifying the details of
the breach. 
 (b) The Parties may mutually terminate this Agreement, in which event the future relationship of the Parties shall be
determined by the Parties in writing. 
 (c) This Agreement may be terminated by Licensor if Licensee, (i) ceases conducting its
business in the normal course; (ii) is over-indebted, unable to pay its debts when they become due, insolvent or subject to any voluntary insolvency proceedings; (iii) makes a general assignment for the benefit of its creditors;
(iv) petitions, applies for, or suffers or permits with or without its consent the appointment of a custodian, receiver, trustee in bankruptcy or similar officer for all or any substantial part of its business or assets; (v) avails itself
or becomes subject to any proceeding under the U.S. Bankruptcy Code or any similar state, federal or foreign statute relating to bankruptcy, insolvency, reorganization, receivership, arrangement, adjustment of debts, dissolution or liquidation;
(vi) becomes subject to an application for the opening of an insolvency proceeding in relation to Licensee with the insolvency court that is not dismissed within sixty days; or (vii) suffers a material deterioration of its assets, business
or financial position that endangers, or is reasonably likely to endanger, the due performance of this Agreement in all material respects by Licensee in the future. Notwithstanding Licensor’s termination rights under this Section 8.2
(Termination), Licensor may agree to continue the Royalty Bearing License granted under this Agreement (and, if during the Terminable Period, the Royalty Free License granted under this Agreement) for the sole purpose of facilitating Licensee’s
completion of any work in progress under the Foundry Services Agreement. Licensor shall reasonably agree to such limited continuation of the licenses granted hereunder provided that Licensor is given adequate assurance of Licensee’s continuing
compliance with the requirements of this Agreement, including the requirements regarding Confidential Information and the Royalty payments, and the SPA and the other Collateral Agreements. 

  
 -15- 

 8.3 Change of Control. In addition to the termination events set forth in
Section 8.2 (Termination), Licensor may terminate this Agreement (in its sole discretion) effective upon written notice to Licensee, in the event of a Change of Control of Acquirer or Licensee, provided that such notice is given within thirty
(30) days after Licensor receives notice of such Change of Control. Licensee shall provide Licensor written notice of any proposed Change of Control within fifteen (15) days prior to the consummation thereof. Alternatively, Licensor may
agree in its sole discretion to continue the Royalty Bearing License granted under this Agreement (and, if during the Terminable Period, the Royalty Free License granted under this Agreement) following a Change of Control for the limited purpose of
facilitating Licensee’s completion of any work in progress under the Foundry Services Agreement. Any continuation of the licenses granted hereunder following a Change of Control shall be subject to adequate assurance of Licensee’s
continuing its compliance with the requirements of this Agreement, including the requirements regarding Confidential Information and the Royalty payments, and the SPA and the other Collateral Agreements. 

8.4 Effect of Termination. Upon termination of this Agreement: 

(a) the Royalty Bearing License granted to the Licensee by Licensor hereunder shall terminate immediately; 

(b) the Royalty Free License granted to the Licensee by the Licensor hereunder shall not terminate and shall continue, unless the Agreement
is terminated during the Terminable Period, in which case the Royalty Free License shall terminate immediately; 
 (c) Licensee shall
return to Licensor any Confidential Information as required under Section 7.7 (Return); and 
 (d) The following provisions of this
Agreement shall survive any termination of this Agreement in accordance with the terms of such provisions: Section 2 (Rights and Licenses), Section 4 (Compensation) (with respect to any Royalty Bearing Products sold or otherwise disposed
of prior to or after termination), Section 5 (Disclaimer), Section 6 (Protection of Licensed Technology), Section 7 (Confidential Information), Section 8 (Term and Termination) and Section 9 (General Terms). 

9. General Terms. 
 9.1
Notices. Each Party giving any notice required or permitted under this Agreement will give the notice in writing, and use one of the following methods of delivery to the party to be notified, at the addresses set forth below or other
addresses of which the sending party has been notified in accordance with this Section 9.1: (a) personal delivery; (b) commercial overnight courier with a reasonable method of confirming delivery;
(c) pre-paid certified or registered mail, return receipt requested, or (d) electronic mail, after confirmation of receipt by return electronic mail. Notice to a Party is effective for purposes of
this Agreement only if given as provided in this Section 9.1 or if the intended addressee has actually received the notice. 

  
 -16- 

 If to Licensee to: 

Cypress Semiconductor (Minnesota) Inc. 

2401 East 86th Street 

Bloomington, MN 55425 
 Attention:
Bart Zibrowski 
 E-mail: ***** 

with a copy (which shall not constitute notice) to: 

Fredrikson & Byron, P.A. 

200 South Sixth Street, Suite 4000 

Minneapolis, Minnesota 55402 

Attention: Simon C. Root and Sean P. Kearney 

E-mail: sroot@fredlaw.com and skearney@fredlaw.com 

If to Licensor to: 
 Cypress
Semiconductor Corporation 
 198 Champion Court 

San Jose, CA 95134 
 Attention:
General Counsel, MS 6.1 
 E-mail: ***** 

with a copy to (which shall not constitute notice): 

Wilson Sonsini Goodrich & Rosati 

Professional Corporation 
 650
Page Mill Road 
 Palo Alto, CA 94304 

Attention: Selwyn B. Goldberg, Esq. 

Michael Ringler, Esq. 

Telecopy: (650) 493-6811 

Email: sgoldberg@wsgr.com 
 9.2
Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect
so long as the economic or legal substance of the transactions contemplated hereby are not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being
enforced, the Parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated
as originally contemplated to the greatest extent possible. 
 9.3 Entire Agreement. This Agreement constitutes the entire agreement
of the Parties hereto with respect to the subject matter hereof and supersede all prior and contemporaneous agreements, covenants, representations, warranties, undertakings and understandings, written or oral, among the Parties hereto with respect
to the subject matter hereof. 

  
 -17- 

 9.4 Assignment. Licensor may assign either this Agreement or any of its rights,
interests, or obligations hereunder to any third party or an Affiliate without the prior written approval of Licensee; provided that any such assignment shall not limit the licenses granted hereunder. Licensee shall not assign or purport to assign
this Agreement, or any of its rights, interests, or obligations hereunder, by operation of law or otherwise (including through a merger, acquisition, sale of assets or stock, consolidation, or change of control which shall be deemed a purported
assignment), without the express written consent of Licensor, provided, however, that in the event of a Change of Control of Licensee after the Terminable Period, the Royalty Free License shall survive any termination of this Agreement pursuant to
Section 8.3. Any assignment in breach of the foregoing shall be null and void. Subject to the preceding sentence, this Agreement shall be binding upon and shall inure to the benefit of the Parties hereto and their respective successors and
permitted assigns. 
 9.5 No Third Party Beneficiaries. This Agreement is not intended to confer any rights or remedies hereunder to
any other Person. 
 9.6 Amendment. This Agreement may not be amended, restated, supplemented or otherwise modified except by an
instrument in writing signed by Licensor and Licensee. 
 9.7 Governing Law and Jurisdiction.     

(a) Governing Law. This Agreement and any dispute arising out of or in connection with this Agreement (“Dispute”) will be
governed as to all matters, including, but not limited to the validity, construction and performance of this Agreement, by and under the laws of the State of Delaware, without giving effect to conflicts of law principles thereof. 

(b) Jurisdiction. Each of the Parties irrevocably submits to the jurisdiction of any Delaware state court, or federal court of the
United States of America sitting in Delaware, in connection with any Dispute arising out of or relating hereto or the transactions contemplated hereby, and hereby irrevocably agrees that all claims in respect of such Legal Proceeding shall be heard
and determined in such state or federal court. Each of the Parties hereby irrevocably waives (and agrees not to plead or claim) any objection to the laying of venue of any Legal Proceeding arising out of or relating hereto or the transactions
contemplated thereby in any state or federal court located in the state of Delaware, and the defense of an inconvenient forum to the maintenance of such action or proceeding. The Parties further agree, to the fullest extent permitted by Law, that
final and non-appealable judgment against any of them in any Legal Proceeding contemplated above shall be conclusive and may be enforced in any other jurisdiction within or outside the United States by suit on
the judgment, a certified copy of which shall be conclusive evidence of the fact and amount of such judgment. Each of the Parties agrees that service of process, summons, notice or document by U.S. registered mail to such person in accordance with
Section 9.1 shall be effective service of process for any Legal Proceeding with respect to any matters to which it has submitted to jurisdiction pursuant to this Section 9.7. 

  
 -18- 

 9.8 Counterparts and Facsimile Signature. This Agreement may be executed in one or
more counterparts, and by the different Parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. This Agreement may be
executed by facsimile signature. 
 9.9 Construction. All references in this Agreement to “Articles,” “Sections”
and “Exhibits” refer to the articles, sections and exhibits of this Agreement. As used in this Agreement, neutral pronouns and any variations thereof shall be deemed to include the feminine and masculine and all terms used in the singular
shall be deemed to include the plural, and vice versa, as the context may require. The words “hereof,” “herein” and “hereunder” and other words of similar import refer to this Agreement as a whole, as the same may from
time to time be amended or supplemented in accordance herewith, and not to any subdivision contained in this Agreement. The word “including” when used herein is not intended to be exclusive and means “including, without
limitation.” 
 [Remainder of page left intentionally blank, signature blocks appear on next page] 

  
 -19- 

 IN WITNESS WHEREOF, and intending to be legally bound hereby, Licensor and
Licensee have caused their duly authorized representatives to execute this Agreement. 
  

									
	CYPRESS SEMICONDUCTOR CORPORATION	  		  	CYPRESS SEMICONDUCTOR (MINNESOTA) INC.
					
	By:	  	/s/ Thad Trent	  		  	By:	  	/s/ Thad Trent
	Name:	  	Thad Trent	  		  	Name:	  	Thad Trent
	Title:	  	EVP, Finance & Administration and Chief Financial Officer	  		  	Title:	  	Vice President and Chief Financial Officer
	Date:	  	March 1, 2017	  		  	Date:	  	March 1, 2017

 [Signature Page to Technology License Agreement]

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