SEC Contract Filing

Filing Date: 2022-03-17

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d361445dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Execution Version </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INVESTMENT COMMITMENT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This INVESTMENT COMMITMENT AGREEMENT (this &#147;<U>Agreement</U>&#148;), dated as of March&nbsp;16, 2022, is made by and between Quantum
Corporation, a Delaware corporation (the &#147;<U>Company</U>&#148;), and each purchaser identified in <U>Schedule II</U> hereto (each, including its permitted successors and assigns, an &#147;<U>Investor</U>&#148; and collectively, the
&#147;<U>Investors</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company proposes to conduct a rights offering by distributing, at no charge, <FONT
STYLE="white-space:nowrap">non-transferable</FONT> rights (the &#147;<U>Rights</U>&#148;) to purchase shares of the Company&#146;s common stock, par value $0.01 per share (the &#147;<U>Common Stock</U>&#148;) to (i)&nbsp;each holder of record of
shares of Common Stock and (ii)&nbsp;holders of certain warrants the Company issued on December&nbsp;27, 2018 and June&nbsp;16, 2020 listed on <U>Schedule I</U> (the &#147;<U>Participating Warrants</U>&#148;), in each case, as of 5:00 p.m. (New York
time) on March&nbsp;25, 2022 (the &#147;<U>Record Date</U>&#148;), pro rata to such eligible holders based on each such holder&#146;s ownership of shares of Common Stock and/or Participating Warrants; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Rights will be exercisable for approximately 30,000,000 shares, subject to adjustment for the number of actual shares, including
shares issuable upon exercise of the Participating Warrants, outstanding as of Record Date (the &#147;<U>Offered Shares</U>&#148;) resulting in gross proceeds to the Company of up to sixty-seven million, five hundred thousand dollars ($67,500,000);
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, following the distribution of the Rights, the Company will commence an offering registered under the Securities Act of 1933, as
amended (the &#147;<U>Securities Act</U>&#148;), pursuant to which each holder of a Right will be entitled to subscribe for the following (the &#147;<U>Rights Offering</U>&#148;): for each share of Common Stock (including shares of Common Stock
issuable upon exercise of the Participating Warrants) held on the Record Date, (i)&nbsp;the right (the &#147;<U>Basic Subscription Right</U>&#148;) to purchase approximately 0.422572999 of a share of Common Stock, at a subscription price of $2.25
per whole share of Common Stock (the &#147;<U>Subscription Price</U>&#148;) and (ii)&nbsp;if the Rights Offering is not fully subscribed and such holder of Rights has exercised its Basic Subscription Rights in full, the right (the
&#147;<U>Over-Subscription Privilege</U>&#148;) to purchase additional shares of Common Stock that were not subscribed for by other holders of Rights, which will be allocated proportionately to holders who exercise their Over-Subscription Privileges
based on the number of shares each holder subscribed for under the Basic Subscription Right relative to the number of shares subscribed for by all other holders under their Basic Subscription Rights, with the proration process being repeated until
all shares have been allocated; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, each Investor has agreed to exercise all of its Basic Subscription Rights in full (the
&#147;<U>Basic Shares</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, in order to facilitate the Rights Offering, upon the terms and subject to the conditions set
forth herein, each Investor has agreed to exercise their Basic Subscription Right, and certain of the Investors have agreed to exercise their Over-Subscription Privilege to purchase at the Subscription Price (together, the &#147;<U>Investment
Commitment</U>&#148;) shares of Common Stock that are not purchased pursuant to the exercise of Basic Subscription Rights in the Rights Offering up to, but not in excess of, the amount set forth opposite such Investor&#146;s name on
<U>Schedule</U><U></U><U>&nbsp;II</U> hereto (or with respect to the Neuberger Investors (as defined in <U>Schedule II</U> below) when taken together with the Neuberger Advisory Investors (as defined herein), the aggregate limit set forth in
<U>Schedule</U><U></U><U>&nbsp;II</U>) (together with the Basic Shares, the &#147;<U>Investment Shares</U>&#148;), subject to pro rata cutback or adjustment as described in <U>Section</U><U></U><U>&nbsp;2(b)</U> and subject further to the maximum
percentage ownership as set forth opposite such Investor&#146;s name on <U>Schedule</U><U></U><U>&nbsp;II</U> hereto (the &#147;<U>Cap</U>&#148;); </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, in order to facilitate the Rights Offering, upon the terms and