FINISAR CORP
EX-10.59
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<TYPE>EX-10.59
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<FILENAME>f50856exv10w59.htm
<DESCRIPTION>EX-10.59
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">EXHIBIT 10.59
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIXTH AMENDMENT TO LETTER OF CREDIT REIMBURSEMENT AGREEMENT</B>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Sixth Amendment to Letter of Credit Reimbursement Agreement (the &#147;Amendment&#148;) is entered
into as of October&nbsp;28, 2008, and is effective as of October&nbsp;25, 2008, by and between <B>SILICON VALLEY
BANK</B>, a California corporation, with its principal place of business at 3003 Tasman Drive, Santa
Clara, California 95054 (&#147;Bank&#148;) and <B>FINISAR CORPORATION</B>, a Delaware corporation with its chief
executive office located at 1399 Moffett Park Drive, Sunnyvale, California 94089 (&#147;Borrower&#148;).
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1. <U>DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS</U>. Among other indebtedness and
obligations which may be owing by Borrower to Bank, Borrower is indebted to Bank pursuant to a
financing arrangement dated as of April&nbsp;29, 2005, evidenced by, among other documents, a certain
Letter of Credit Reimbursement Agreement dated as of April&nbsp;29, 2005, between Borrower and Bank, as
amended by a certain First Amendment to Letter of Credit Reimbursement Agreement dated as of
October&nbsp;20, 2005, between Borrower and Bank, as further amended by a certain Second Amendment to
Letter of Credit Reimbursement Agreement dated as of October&nbsp;26, 2006, between Borrower and Bank,
as further amended by a certain Third Amendment to Letter of Credit Reimbursement Agreement dated
as of December&nbsp;21, 2006, between Borrower and Bank, as further amended by a certain Fourth
Amendment to Letter of Credit Reimbursement Agreement dated as of November&nbsp;1, 2007, between
Borrower and Bank, and as further amended by a certain Fifth Amendment to Letter of Credit
Reimbursement Agreement dated as of March&nbsp;14, 2008, between Borrower and Bank (as amended, the
&#147;Reimbursement Agreement&#148;). Capitalized terms used but not otherwise defined herein shall have the
same meaning as in the Reimbursement Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. <U>DESCRIPTION OF CHANGE IN TERMS</U>.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">A. Modifications to Reimbursement Agreement.
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<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Borrower hereby agrees to deliver to Bank, within thirty (30)
days of the date of this Amendment, a joinder agreement and all other
documentation requested by Bank in order to make Optium Corporation, a Delaware
corporation that is a wholly-owned subsidiary of Borrower, a &#147;Borrower&#148; under
the Reimbursement Agreement. The failure of Borrower to comply with this
provision shall result in an immediate Event of Default under the Reimbursement
Agreement, for which there shall be no grace or cure period.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Reimbursement Agreement shall be amended by deleting the
following definitions appearing in Section&nbsp;13.1 thereof:</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">&#147; &#147;<B>Letter of Credit Line</B>&#148; is the issuance of a Letter of Credit or
Letters of Credit of up to Ten Million Five Hundred Thousand Dollars
($10,500,000.00).&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">&#147; &#147;<B>Letter of Credit Line Maturity Date</B>&#148; is October&nbsp;25, 2008.&#148;
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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>and inserting in lieu thereof the following:</TD>
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</TABLE>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">&#147; &#147;<B>Letter of Credit Line</B>&#148; is the issuance of a Letter of Credit or
Letters of Credit of up to Nine Million Dollars ($9,000,000.00).&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 12%">&#147; &#147;<B>Letter of Credit Line Maturity Date</B>&#148; is October&nbsp;24, 2009.&#148;
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">3. <U>FEES</U>. Borrower shall pay to Bank a modification fee equal to $22,500.00, which fee
shall be due on the date hereof and shall be deemed fully earned as of the date hereof. Borrower
shall also reimburse Bank for all legal fees and expenses incurred in connection with this
amendment to the Reimbursement Agreement.
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">4. <U>RATIFICATION OF PERFECTION CERTIFICATE</U>. Borrower hereby ratifies, confirms and
reaffirms, all and singular, the terms and disclosures contained in a certain Perfection
Certificate dated as of March&nbsp;14, 2008 between Borrower and Bank, and acknowledges, confirms and
agrees the disclosures and information Borrower provided to Bank in the Perfection Certificate have
not changed, as of the date hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5. <U>NO DEFENSES OF BORROWER</U>. Borrower hereby acknowledges and agrees that Borrower has no
offsets, defenses, claims, or counterclaims against Bank with respect to the Obligations, or
otherwise, and that if Borrower now has, or ever did have, any offsets, defenses, claims, or
counterclaims against Bank, whether known or unknown, at law or in equity, all of them are hereby
expressly WAIVED and Borrower hereby RELEASES Bank from any liability thereunder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">6. <U>CONTINUING VALIDITY</U>. Borrower understands and agrees that in modifying the existing
Obligations, Bank is relying upon Borrower&#146;s representations, warranties, and agreements, as set
forth in the Reimbursement Agreement. Except as expressly modified pursuant to this Amendment, the
terms of the Reimbursement Agreement remain unchanged and in full force and effect. Bank&#146;s
agreement to modifications to the existing Obligations pursuant to this Amendment in no way shall
obligate Bank to make any future modifications to the Obligations. Nothing in this Amendment shall
constitute a satisfaction of the Obligations. It is the intention of Bank and Borrower to retain
as liable parties all makers of the Reimbursement Agreement, unless the party is expressly released
by Bank in writing. No maker will be released by virtue of this Amendment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">7. <U>COUNTERSIGNATURE</U>. This Amendment shall become effective only when it shall have been
executed by Borrower and Bank.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><I>&#091;The remainder of this page is intentionally left blank&#093;</I>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment is executed as a sealed instrument under the laws of the State of California as
of the date first written above.
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<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>BORROWER:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left"><B>BANK:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>FINISAR CORPORATION</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="1" valign="top" align="left"><B>SILICON VALLEY BANK</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ STEPHEN K. WORKMAN
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ TOM SMITH</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Stephen K. Workman
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Tom Smith</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Senior Vice President, Finance and CFO
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Managing Director</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
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