SHARES PURCHASE AGREEMENT


 


THIS SHARES PURCHASE AGREEMENT is made and
entered into on May 9, 2013, by and between Preformed Line Products Company, an Ohio corporation (“Purchaser”), and
the Thomas F. Peterson Foundation (“Seller”).


 


RECITALS


 


A.      Purchaser’s
common shares, $2 par value, are traded on the NASDAQ National Market (the “NASDAQ”) under the symbol “PLPC”
and Purchaser is a reporting company under the Securities Exchange Act of 1934, as amended. As a result, financial and other material
business information about Purchaser is publicly available.


 


B.      Seller is a charitable foundation established
by a shareholder and director of Purchaser. The officers of the foundation are Barbara A. Ruhlman, President; Robert G. Ruhlman,
Vice President; Randall M. Ruhlman, Secretary/Treasurer; and Bernard L. Karr, Assistant Secretary. The charitable foundation is
the owner of 39,195 common shares of Purchaser;


 


C.      Seller approached Purchaser regarding
Seller’s desire to sell 9,757 of Seller’s common shares to Purchaser (the “Shares”);


 


D.      In response to Seller’s inquiry,
Purchaser after due consideration, including the review and approval of the proposed transaction by (i) the Company’s Audit
Committee of the Board of Directors (appointed as a special committee to review the proposed transaction), which is comprised solely
of independent directors, and (ii) the Board of Directors, expressed a desire to purchase the Shares, under the terms and conditions
hereinafter set forth:


 


Accordingly, for good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows.


 


AGREEMENT


 


1.      Purchase and Sale of Shares.
Upon the execution and delivery of this Agreement, Seller shall sell, transfer, assign, bargain and convey to Purchaser 9,757
common shares at a purchase price of $76.87 per share. Seller shall deliver the Shares via a DWAC transfer to the Preformed
Line Products account at Computershare. Purchaser shall pay Seller $750,020.59 (the “Purchase Price”) for the
Shares by the delivery of cash by wire transfer to Seller’s bank account or accounts. Seller has provided Purchaser with
written wire transfer instructions. The parties acknowledge and agree that the Purchase Price was negotiated in good faith between
the parties and that, in connection with such negotiations, references were made by the parties to Purchaser’s historical
trading prices on the NASDAQ.


 




    	 



    	 



    

2.      Representations
and Warranties of Purchaser. Purchaser hereby represents and warrants to Seller as follows:


 


(a)      Purchaser has the requisite power and authority to
execute, deliver and perform its obligations under this Agreement. This Agreement constitutes the valid and binding obligation
of Purchaser enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, moratorium
or other laws relating generally to the enforcement of creditors’ rights.


 


(b)      The execution, delivery and performance of this Agreement
does not and will not (i) violate any law, regulation, judgment, decree, order or other directive of any court or governmental
agency currently applicable to or binding upon Purchaser, or (ii) breach or constitute a default under any agreement to which Purchaser
is a party or by which it is bound.


 


3.      Representations,
Warranties and Covenants of Seller. Seller hereby represents and warrants to Purchaser as follows:


 


(a)      The Assistant Secretary of Seller has the requisite
power and authority to execute, deliver and perform his obligations under this Agreement, having received written authorization
to proceed with the sale from the President of Seller. This Agreement constitutes the valid and binding obligation of Seller enforceable
against Seller in accordance with its terms.


 


(b)      The execution, delivery and performance of this Agreement
does not and will not (i) violate any law, regulation, judgment, decree, order or other directive of any court or governmental
agency applicable to or binding upon Seller, or (ii) breach or constitute a default under any agreement to which Seller is a party
or by which Seller is bound.


 


(c)      Seller is the owner of the Shares of the Purchaser
being sold, assigned, bargained and conveyed pursuant hereto, free from any security interest, pledge, option, equity, claim or
other right or interest of any kind. Upon the sale to Purchaser, Purchaser will acquire the Shares being transferred, free from
any security interest, pledge, option, equity, claim or other right or interest of any kind.


 


(d)      Seller has received
and carefully reviewed Purchaser’s filings with the Securities and Exchange Commission
and Purchaser’s press releases posted on Purchaser’s website (the filings and press releases, the “Purchaser
Disclosure”) and has had full access to Purchaser’s other directors and executives for purposes of discussion the Company’s
condition, operations and plans. Seller acknowledges that no oral representations have been made or information furnished to Seller
or Seller’s representatives that are in any way inconsistent with the Purchaser Disclosure. Seller confirms that no representations,
warranties, or other agreements (whether express or implied) have been made by Purchaser with respect to the transactions contemplated
hereby, except for those representations, warranties, and agreements that are specifically set forth in this Agreement.


 


(e)      Seller, to the extent necessary, shall, without additional
consideration, take such additional or further actions and execute such other or further documents as may be reasonably requested
by Purchaser in order to evidence, confirm or carry out the transactions contemplated hereby.


 



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4.      Miscellaneous.


 


(a)      Governing Law. This Agreement shall be construed
in accordance with and governed by the laws of the State of Ohio.


 


(b)      Amendment; Waiver. No modification, amendment
or waiver of any provision of this Agreement will be effective unless such modification, amendment or waiver is in writing and
signed on behalf of the parties hereto. The failure of any party to enforce any of the provisions of this Agreement will in no
way be construed as a waiver of such provisions and will not affect the right of such party thereafter to enforce each and every
provision of this Agreement in accordance with its terms.


 


(c)      Construction. The descriptive headings of
this Agreement are inserted for convenience only and do not constitute a part of this Agreement. The Recitals are incorporated
by reference and made a part of this Agreement.


 


(d)      Binding Agreement. Except as otherwise provided
herein, this Agreement will bind and inure to the benefit of and be enforceable by Purchaser and Seller and their respective successors
and assigns. 


 


(e)      Counterparts. This Agreement may be executed
in counterparts, each of which, when executed, will be an original and all of which taken together will constitute one and the
same agreement.


 


(f)      Entire Agreement. This Agreement embodies
the complete agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes or
incorporates all prior or contemporaneous understandings, agreements or representations by or among the parties, written or oral,
which may have related to the subject matter hereof in any way.


 


(g)      IN WITNESS WHEREOF, this Agreement has been executed
on behalf of the parties on the date first written above.


  


  


 


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SELLER


THE THOMAS F. PETERSON FOUNDATION


 


By:              /s/ Bernard Karr                                   


Bernard L. Karr, Assistant Secretary


 


PURCHASER


PREFORMED LINE PRODUCTS COMPANY


 


By:              /s/ Eric Graef                                         


Eric Graef – Vice President –
Finance




 



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