EQUITY COMMITMENT LETTER December 29, 2023Equity Commitment Letter • January 2nd, 2024 • Advanced Technology (Cayman) LTD • Electrical industrial apparatus • New York
This Equity Commitment Letter (this “letter agreement”) sets forth the commitment of Advanced Technology (Cayman) Limited (the “Sponsor”), subject to (i) the terms and conditions contained in the Agreement and Plan of Merger, dated December 11, 2023 (as amended, restated, supplemented or otherwise modified from time to time, the “Merger Agreement”) by and among Hollysys Automation Technologies Ltd. (the “Company”), Superior Technologies Mergersub Limited, a BVI business company incorporated under the Laws of the British Virgin Islands (“Merger Sub”) and Superior Technologies Holding Limited (“Parent”), which provides, among other things, for the merger of Merger Sub with and into the Company, with the Company continuing as the surviving company and a wholly owned subsidiary of Parent (the “Merger”) and (ii) the terms and conditions contained herein. On December 11, 2023, each of Ascendent Capital Partners III, L.P. (the “Guarantor”) and Skyline Automation Technologies L.P. (together wi
SHARE SUBSCRIPTION AGREEMENTShare Subscription Agreement • January 2nd, 2024 • Advanced Technology (Cayman) LTD • Electrical industrial apparatus • Hong Kong
This Share Subscription Agreement (this “Agreement”) is made as of December 29, 2023 (the “Signing Date”) by and between Advanced Technology (Cayman) Limited, an exempted company incorporated under the laws of the Cayman Islands (the “Company”), and Sinopec Capital Co., Ltd. (中国石化集团资本有限公司) (the “Investor”), a company established under the laws of the People’s Republic of China (the “PRC”). Each of the Company and the Investor is referred to herein individually as a “Party” and collectively as the “Parties”.
WAIVER (this “Waiver”) December 29, 2023Waiver • January 2nd, 2024 • Advanced Technology (Cayman) LTD • Electrical industrial apparatus • New York
Reference is made to (i) the Agreement and Plan of Merger (the “Merger Agreement”), dated as of December 11, 2023, by and among Hollysys Automation Technologies Ltd., a BVI business company (the “Company”), Superior Technologies Holding Limited, a Cayman Islands exempted company (“Parent”), and Superior Technologies Mergersub Limited, a BVI business company and a wholly owned Subsidiary of Parent (“Merger Sub”), (ii) the Rollover and Support agreement (the “Support Agreement”), dated as of December 11, 2023, by and between the Parent and Advanced Technology (Cayman) Limited (the “Rollover Shareholder”), and (iii) the Equity Commitment Letter (the “ECL”), dated as of December 11, 2023, by and between Skyline Automation Technologies L.P. (“Skyline”) and Merger Sub. All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Support Agreement.
