Exhibit 10.18
CERTAIN CONFIDENTIAL PORTIONS HAVE BEEN REDACTED FROM THIS EXHIBIT BECAUSE THEY ARE BOTH (i) NOT MATERIAL AND (ii) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. INFORMATION THAT HAS BEEN OMITTED HAS BEEN IDENTIFIED IN THIS DOCUMENT WITH A PLACEHOLDER IDENTIFIED BY THE MARK “[***]”.
Execution Version
FFL SECOND COMMITMENT AND EXTENSION AGREEMENT
This FFL SECOND COMMITMENT AND EXTENSION AGREEMENT (this “Agreement”) is made as of May 15, 2019, by and among Toshiba Memory Corporation, a Japanese corporation (“TMC”), Toshiba Memory Iwate Corporation, a Japanese corporation (“TMI”), Western Digital Corporation, a Delaware corporation (“WD”) (together with TMC, the “Parent Parties”), SanDisk LLC, a Delaware limited liability company (“SanDisk LLC”), SanDisk (Cayman) Limited, a company organized under the laws of the Cayman Islands (“SanDisk Cayman”), SanDisk (Ireland) Limited, a company organized under the laws of the Republic of Ireland (“SanDisk Ireland”), SanDisk Flash B.V., a company organized under the laws of the Netherlands (“SanDisk Flash,” and together with SanDisk LLC, SanDisk Cayman, and SanDisk Ireland, “SanDisk”), Flash Partners, Ltd., a Japanese tokurei yugen kaisha (“FPL”), Flash Alliance, Ltd., a Japanese tokurei yugen kaisha (“FAL”), and Flash Forward, Ltd., a Japanese godo kaisha (“FFL,” and together with FPL and FAL, the “JVs,” and collectively with TMC, TMI, WD, SanDisk, FPL, FAL and FFL, the “Parties”).
WHEREAS, TMC, SanDisk LLC and SanDisk Flash are parties to that certain Flash Forward Master Agreement dated July 13, 2010 (as amended from time to time, the “FF Master Agreement”), and the other FF Operative Documents, which collectively provide for the management and operation of FFL and which by their terms are set to expire as of December 31, 2025;
WHEREAS, the Parties entered into the FFL Commitment and Extension Agreement (the “Extension Agreement”) on December 12, 2017, with respect to FFL;
WHEREAS, the Parties, among others, are engaged in the joint development and manufacture of BiCS Products and NAND Flash Memory Products;
WHEREAS, some or all of the Parties, among others, are concurrently entering into this Agreement, the K1 Facility Agreement, dated May 15, 2019, by and among TMC, TMI, WD, SanDisk and the JVs (the “K1 Facility Agreement”), and the other New Agreements (as defined in the K1 Facility Agreement);
WHEREAS, TMC intends to conduct certain activities at the Kitakami Facility through TMI, TMC’s wholly-owned Subsidiary;
WHEREAS, the Parties intend to restructure the JV operations such that FFL will wind down its activities at the Yokkaichi Facility and FFL will be the Parent Parties’ primary vehicle for joint investments in tools for the Kitakami Facility, and, from the date hereof, FPL and FAL will be the Parent Parties’ primary vehicles for joint investments in tools for the Yokkaichi Facility and such investments by FPL and FAL for the Y5 Facility will be on substantially the same terms and conditions that apply to FFL’s investments in tools for the Y5 Facility immediately prior to giving effect to the transactions contemplated by this Agreement;
WHEREAS, in connection with such restructuring of the JV operations, the Parties desire to make certain amendments to the Master Operative Documents as described herein;
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