Item 1.01 Entry into a Material Definitive Agreement
Amended and Restated Seventh Amendment to the Wafer Supply Agreement
On
The A&R Seventh Amendment modifies certain terms of the Wafer Supply Agreement
applicable to wafer purchases at the 12 nm and 14 nm technology nodes by the
Company for the period commencing on
Further, the Company and GF agreed to pricing and new annual wafer purchase
targets for years 2022, 2023 and 2024, and the Company agreed to pre-pay GF
certain amounts for those wafers in 2022 and 2023. If the Company does not meet
the annual wafer purchase target for any of these years, the Company will be
required to pay to GF a portion of the difference between the actual wafer
purchases and the wafer purchase target for that year. The Company currently
estimates that it will purchase approximately
The foregoing description is not complete and is qualified in its entirety by reference to the A&R Seventh Amendment, a copy of which will be filed with a Quarterly Report on Form 10-Q.
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