EQUITY COMMITMENT LETTER December 11, 2023Advanced Technology (Cayman) LTD • December 13th, 2023 • Electrical industrial apparatus • New York
This Equity Commitment Letter (this “letter agreement”) sets forth the commitment of Skyline Automation Technologies L.P. (the “Sponsor”), subject to (i) the terms and conditions contained in the Agreement and Plan of Merger, dated as of the date of this letter agreement (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. Concurrently with the delivery of this letter agreement, Ascendent Capital Partners III, L.P. (the “Other Sponsor”)
LIMITED GUARANTEELimited Guarantee • December 13th, 2023 • Advanced Technology (Cayman) LTD • Electrical industrial apparatus • New York
This LIMITED GUARANTEE, dated as of December 11, 2023 (this “Limited Guarantee”), is made by Ascendent Capital Partners III, L.P. (the “Guarantor”), in favor of Hollysys Automation Technologies Ltd., a BVI business company incorporated under the Laws of the British Virgin Islands (the “Company” or “Guaranteed Party”). Capitalized terms used and not otherwise defined herein shall have the meaning ascribed to them in the Merger Agreement (as defined below).
