On November 15, 2016, Daktronics, Inc. (the Company) entered into
a Credit Agreement (the Agreement) and a related Revolving Note
(the Note) with U.S. Bank National Association (the Bank). The
Agreement and Note have a maturity date of November 15, 2019. The
revolving amount of the Agreement and Note is $35,000,000,
including up to $15,000,000 for commercial and standby letters of
credit. The Agreement and Note are unsecured. The Note provides
for certain covenants of the Company, including a fixed charge
ratio and interest bearing debt to EBITDA ratio. The Company will
use any borrowings under the Note for general corporate purposes.
As of November 15, 2016, there were no borrowings under the Note,
and the balance of letters of credit outstanding was
approximately $5.3 million.

Also, on November 15, 2016, the Company entered into an Amended
and Restated Loan Agreement (the Loan) and a Continuing and
Unlimited Guaranty Agreement (the “Guaranty”) with Bank of
America, N.A. (BoA). The Loan and Guaranty have a maturity date
of November 15, 2019. The revolving amount of the Loan is
$20,000,000. The Loan is unsecured. The Loan provides for certain
covenants of the Company including a fixed charge ratio and
interest bearing debt to EBITDA ratio. The Company will use the
borrowings under the Note to support credit needs for general
corporate purposes outside the United States. As of November 15,
2016, there were no borrowings under the Loan, and the balance of
letters of credit outstanding was approximately $6.8 million.

The foregoing description of the Agreement, the Note, the Loan,
and the Guaranty is qualified in its entirety by reference to
such documents, copies of which are filed as Exhibits 10.1, 10.2,
10.3, and 10.4 to this Report and incorporated herein by
reference.

Item 1.02 Termination of a Material Definitive Agreement

As of November 15, 2016, all prior credit facilities expired
including: the Twelfth Amendment to the Loan Agreement and the
related Renewal Note Agreement with the Bank and the Fifth
Amendment to the Loan Agreement, the third Amendment of the
Unlimited Guarantee Agreement and the Amended and Restated
Revolving Note with BoA.

Section 9 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(d) The following exhibits are filed with this Report:

10.1 Credit Agreement dated November 15, 2016 by and between the
Company and U.S. Bank National Association.

10.2 Revolving Note dated November 15, 2016 issued by the Company
to U.S. Bank National Association.

10.3 Amended and Restated Loan Agreement dated November 15, 2016
by and between the Company and Bank of America, N.A.

10.4 Continuing and Unconditional Guaranty dated November 15,
2016 by and between the Company and Bank of America, N.A.