Document:

ex10_1.htm

Exhibit 10.1

Cablevision Systems Corporation has agreed to make office space available from time to time to one of its directors, Marianne Dolan Weber.  Ms. Dolan Weber will be charged an amount equal to the allocated cost of the space on a per diem basis.  The arrangement is expected to remain in place for as long as Ms. Dolan Weber remains as a director but Cablevision can end the arrangement at any time.ex10_2.htm

Exhibit 10.2

August 3, 2012

 

Mr. James L. Dolan

Cablevision Systems Corporation

1111 Stewart Avenue

Bethpage, NY 11714

 

Dear Jim:

 

Re:           Amendment to Time Sharing Agreement

Reference is made hereby to that certain Time Sharing Agreement (the “Agreement”) dated November 22, 2006 by and between you and CSC Transport IV, Inc. (“CSC”)

 

You and CSC hereby agree that, effective as of April 1, 2012, Section 2(i) of the Agreement shall be amended to read in full as follows:

 

“(i) with respect solely to any flights hereunder on which neither you nor Charles F. Dolan is on-board, and with respect to any flights hereunder on which you are in board in excess of 50 hours per year, an additional charge equal to 100% of the expenses listed in Section 2(a)”.

 

Except as set forth herein, the Agreement shall continue in full force and effect in accordance with its terms.

 

	  	
Sincerely,

	 	 
	  	
CSC TRANSPORT IV, INC.

	  	  
	  	
/s/ James Nuzzo

	  	
Name: James Nuzzo

	  	
Title: EVP, Business Planning

 

Accepted and agreed:

 

/s/ James L. Dolan

James L. Dolanex10_3.htm

Exhibit 10.3

 

August 3, 2012

 

Mr. Charles F. Dolan

Cablevision Systems Corporation

1111 Stewart Avenue

Bethpage, NY 11714

 

Dear Charles:

 

Re:           Amendment to Time Sharing Agreement

 

Reference is made hereby to that certain Time Sharing Agreement (the “Agreement”) dated November 22, 2006 by and between you and CSC Transport IV, Inc. (“CSC”)

 

You and CSC hereby agree that, effective as of April 1, 2012, Section 2(i) of the Agreement shall be amended to read in full as follows:

 

“(i) with respect solely to any flights hereunder on which neither you nor James L. Dolan is on-board, and with respect to any flights hereunder on which you are in board in excess of 50 hours per year, an additional charge equal to 100% of the expenses listed in Section 2(a)”.

 

Except as set forth herein, the Agreement shall continue in full force and effect in accordance with its terms.

 

	  	
Sincerely,

	 	 
	  	
CSC TRANSPORT IV, INC.

	  	  
	  	
/s/ James Nuzzo

	  	
Name: James Nuzzo

	  	
Title: EVP, Business Planning

 

Accepted and agreed:

 

/s/ Charles F. Dolan

Charles F. DolanEXECUTIVE
EMPLOYMENT AGREEMENT

 

THIS
EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of January 1, 2011, by and between Colfax
Corporation, a Delaware corporation (the “Company”), and Daniel A. Pryor (the “Executive”).

 

1.           Positions,
Duties and Term. The Company hereby employs the Executive as its Senior Vice President, Strategy & Business Development
and the Executive hereby accepts such employment, on the terms and conditions set forth below.

 

1.1           Term.
The Executive’s employment hereunder shall be for a term commencing as of January 1, 2011, (the “Effective Date”)
and ending as of the earliest of (i) December 31, 2012 or such later date to which the term of this Agreement may be extended
pursuant to Subsection (a), (ii) the date that the Executive’s employment terminates pursuant to Subsections (c) or (d),
below, or (iii) the date of the Executive’s death.

 

(a)
Extension of Term. Unless the Executive’s employment with the Company terminates earlier in accordance with Subsections
(c) or (d), the parties pursuant to Subsection (b) elect not to extend the term, the term of this Agreement automatically shall
be extended as of December 31, 2012 and each December 31st thereafter, such that on each such date the term of employment
under this Agreement shall be for a one-year period. In addition, if a Change in Control shall occur during the term of the Executive’s
employment under this Agreement, this Agreement shall not expire prior to the second anniversary of the date of consummation of
the Change in Control, and the term of this Agreement shall automatically be extended to the second anniversary, as necessary,
to give effect to this provision as of such consummation date.

 

(b)
Election Not to Extend Term. The Executive or the Board of Directors of the Company (the “Board”), by
written notice delivered to the other, may at any time elect to terminate the automatic extension provision of Subsection (a).
Any such election may be made at any time until the ninety (90) days prior to the anniversary of the Effective Date as of which
the term would otherwise be extended for an additional one year. Furthermore, the parties agree that expiration of this Agreement
in accordance with the term end-date dictated by this Subsection (b) shall not in any event constitute termination by the Executive
for Good Reason or by the Company without Cause under this Agreement.

 

(c)
Early Termination. The Company may terminate the Executive’s employment with or without Cause or on account of Disability,
with written notice delivered to the Executive from Board. In the case of a termination by the Company for Cause, the Executive’s
termination shall be effective immediately upon giving notice. In the case of a termination without Cause or on account of Disability,
the termination shall be effective as stated in such notice, but not earlier than 60 days following the date of the notice.

 

    	 

    	 

    

 

(d)
Early Resignation. The Executive may resign from the Company for any reason, including Good Reason. Executive may effect
a Good Reason termination by providing at least 30 days’ written notice to the Board of the applicable Good Reason criteria
and his termination effective date; provided that the notice must be given within 90 days of the occurrence of the condition that
is the basis for such Good Reason; and further provided that if the basis for such Good Reason is correctible and the Company
corrects the basis for such Good Reason within 30 days after receipt of such notice, the Good Reason defect shall be cured and
Executive shall not then have the right to terminate his employment for Good Reason with respect to the occurrence addressed in
the written notice. In the case of a resignation other than for Good Reason, the termination shall be effective as stated in the
notice, but not earlier than 60 days following the date of the notice.

 

(e)
Termination and Offices Held. At the time Executive ceases to be an employee of the Company, the Executive agrees that
he shall resign from any office he holds with the Company and its subsidiaries and any affiliate, including any boards of directors.

 

1.2           Duties.
The Executive shall faithfully perform for the Company the duties incident to the office of Senior Vice President, Strategy &
Business Development and shall perform such other duties of an executive, managerial or administrative nature as shall be specified
and designated from time to time by the Board. The Executive shall devote substantially all of the Executive’s business
time and effort to the performance of the Executive’s duties hereunder, provided that in no event shall this sentence prohibit
the Executive from performing personal and charitable activities and any other activities approved by the Board, so long as such
activities do not materially interfere with the Executive’s duties for the Company or create a conflict of interest or the
appearance of a conflict of interest.

 

2.           Compensation.

 

2.1           Salary.
During the term of his employment under this Agreement, the Company shall pay the Executive a base salary at an annual rate of
$350,000 (the “Base Salary”). The Base Salary shall be reviewed no less frequently than annually and may be
increased at the discretion of the Board or the Compensation Committee of the Board (the “Committee”), as applicable.
Except as otherwise agreed in writing by the Executive, the Base Salary shall not be reduced from the amount previously in effect.
The Base Salary shall be payable in equal biweekly installments or in such other installments as shall be consistent with the
Company’s payroll procedures.

 

2.2           Annual
Cash Incentive. During the term of employment under this Agreement, the Executive shall be eligible to receive an annual cash
bonus based on performance objectives established by the Committee each year (the “Annual Cash Incentive”).
The Executive’s target Annual Cash Incentive amount will be the percentage of Base Salary designated as the target by the
Committee, which amount shall be at least 50% of the Base Salary then in effect for each applicable year. Notwithstanding the
preceding, Executive’s Annual Cash Incentive, if any, may be below (including zero), at, or above the target based upon
the achievement of the performance objectives.

 

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2.3           Benefits.
During the term of his employment under this Agreement, the Executive shall be permitted to participate in any group life, hospitalization
or disability insurance plans, health programs, pension and profit sharing plans, long-term incentive plans and similar benefits
that may be available to other senior executives of the Company generally, on the same terms as may be applicable to such other
executives, in each case to the extent that the Executive is eligible under the terms of such plans or programs.

 

2.4           Vacation.
During the term of his employment under this agreement, the Executive shall be entitled to vacation of twenty (20) working days
per year.

 

2.5           Expenses.
The Company shall pay or reimburse the Executive for all ordinary and reasonable out-of-pocket expenses actually incurred (and,
in the case of reimbursement, paid) by the Executive during the term the Executive’s employment under this Agreement, provided
that the Executive submits such expenses in accordance with the policies applicable to senior executives of the Company generally.

 

3.          Terminations
Other than Without Cause or for Good Reason. In the event of the Executive’s resignation other than for Good Reason,
his termination of employment with the Company on account of death or Disability, or his termination by the Company for Cause,
all obligations of the Company under Sections 1 and 2 will immediately cease. In connection with this resignation or termination,
the Company will pay the Executive (or, in the case of the Executive’s death, Executive’s beneficiary or, if none
has been designated in accordance with Section 6.3, Executive’s estate), the amount of the Executive’s Compensation
Accrued at Termination, and the Executive’s rights, if any, under any Company benefit plan or program shall be governed
by such plan or program.

 

4.          Terminations
Without Cause or for Good Reason. If during the term of his employment under this Agreement, Executive is terminated by the
Company without Cause (and not on account of Disability) or resigns from the Company for Good Reason, all obligations of the Company
under Sections 1 and 2 will immediately cease. In connection with this resignation or termination, the Company will pay the Executive
(or, in the case of the Executive’s death, Executive’s beneficiary or, if none has been designated in accordance with
Section 8.3, Executive’s estate), the amount of the Executive’s Compensation Accrued at Termination, and the Executive’s
rights, if any, under any Company benefit plan or program shall be governed by such plan or program. In addition, in connection
with a resignation or termination described in this Section 4, and subject to the requirements of Section 4.3, the Executive shall
be entitled to the benefits described in Section 4.1 and, if applicable, Section 4.2, and, except to the extent provided under
Section 10.7, the payments shall be made, and the benefits shall be provided, upon employment termination or as soon as reasonably
practicable thereafter.

 

4.1          Severance
and Pro-Rata Bonus. The benefit under this Section 4.1 shall consist of the following:

 

		(i)	A single
                                                             sum severance payment in cash equal to the sum of: (x) one (1) times
                                                             the Executive’s Base Salary plus (y) one (1) times the Executive’s
                                                             target Annual Cash Incentive in effect for the year; provided, however,
                                                             that the Annual Cash Incentive component shall instead be the average
                                                             of the two highest actual Annual Cash Incentive payments made in
                                                             the three most recent performance periods, if this amount is greater
                                                             and the Executive has received two such payments; and provided, further,
                                                             that the multiplier under the provisions of (x) and (y) shall be
                                                             “two (2) times” in the event the applicable termination
                                                             of employment occurs within 3 months prior to a Change in Control
                                                             Event or two (2) years after a Change in Control; and

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		(ii)	In lieu
                                                              of any annual cash incentive under Section 2.2 for the year in which
                                                              Executive’s employment terminates, a single sum cash payment
                                                              equal to the amount, if any, of the Partial Year Bonus (as defined
                                                              in Section 10.7); provided, however, that, other than in connection
                                                              with a Change in Control Event, no Partial Year Bonus shall be paid
                                                              unless the performance goals for the applicable year are achieved.

 

4.2          Change
in Control Termination Accelerated Vesting. If the resignation or termination under this Section 4 shall occur within 3 months
prior to a Change in Control Event or two (2) years after a Change in Control, the following provisions shall apply:

 

		(i)	All equity
                                                             or equity based awards held by Executive at termination of employment,
                                                             including but not limited to, stock options, restricted stock and
                                                             restricted stock units, and which time-vest based on service shall
                                                             become vested and non-forfeitable, and all other terms of such awards
                                                             shall be governed by the plans and programs and the agreements and
                                                             other documents pursuant to which such options were granted; and

 

		(ii)	Any performance
                                                              objectives upon which the earning of performance-based restricted
                                                              stock, restricted stock units, and other equity or equity-based
                                                              awards and other long-term incentive awards (including cash awards,)
                                                              is conditioned shall be deemed to have been met at the greater of
                                                              (A) target level at the date of termination, or (B) actual performance
                                                              at the date of termination, and such amounts shall become fully
                                                              vested and non-forfeitable as a result of termination of employment
                                                              at the date of such termination, and, in other respects, such awards
                                                              shall be governed by the plans and programs and the agreements and
                                                              other documents pursuant to which such awards were granted.

 

4.3          Waiver
and Release Agreement. The Executive agrees to execute at the time of Executive’s termination of employment a Waiver
and Release Agreement in a form provided to the Executive by the Company (the “Waiver and Release Agreement”),
within three (3) days of termination, consistent with the form attached hereto as Exhibit A, the terms and conditions of
which are specifically incorporated herein by reference. The execution and delivery of the Waiver and Release Agreement
shall be made within [45] days of delivery to the Executive of the Waiver and Release Agreement and the Company shall make payment
of all lump sums due within ten (10) days after the Waiver and Release Agreement is no longer revocable by Executive. If the Waiver
and Release Agreement is not executed with in the [45] day period post-delivery, the Executive will forfeit all severance payments
to be provided pursuant to Section 4.1.

 

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5.          Golden
Parachute Excise Tax Provisions. In the event it is determined that any payment or benefit (within the meaning of Section
280G(B)(2) of the Internal Revenue Code of 1986, as amended (the “Code”)), to the Executive or for his or her
benefit paid or payable or distributed to or distributable pursuant to the terms of this Agreement or otherwise in connection
with, or arising out of, his or her employment (“Payments”), would be subject to the excise tax imposed by
Section 4999 of the Code or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise
tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”),
then the total Payments shall be reduced to the extent the payment of such amounts would cause the Executive’s total termination
benefits to constitute an “excess” parachute payment under Section 280G of the Internal Revenue Code of 1986, as amended
(the “Code”) and by reason of such excess parachute payment the Executive would be subject to an excise tax
under Section 4999(a) of the Code, but only if the Executive (or the Executive’s tax advisor) determines that the after-tax
value of the termination benefits calculated with the foregoing restriction exceed those calculated without the foregoing restriction.
In that event, then the Executive shall designate those rights, payments, or benefits under this Agreement, any other agreements,
and any benefit arrangements that should be reduced or eliminated so as to avoid having the payment or benefit to the Executive
under this Agreement be deemed to be a parachute payment; provided, however, that in order to comply with Section 409A, the reduction
or elimination will be performed in the order in which each dollar of value subject to a right, payment of benefit reduces the
parachute payment to the greatest extent. Except as otherwise expressly provided herein, all determinations under this Section
5 shall be made at the expense of the Company by a nationally recognized public accounting or consulting firm selected by the
Company and subject to the approval of Executive, which approval shall not be unreasonably withheld. Such determination shall
be binding upon Executive and the Company.

 

5.1          Company
Withholding. Notwithstanding anything contained in this Agreement to the contrary, in the event that, according to the Determination,
an Excise Tax will be imposed on any Payment or Payments, the Company shall pay to the applicable government taxing authorities
as Excise Tax withholding, the amount of the Excise Tax that the Company has actually withheld from the Payment or Payments.

 

6.          Confidentiality;
Non-Competition and Non-Disclosure; Executive Cooperation; Non-Disparagement.

 

6.1          Confidential
Information. The Executive acknowledges that, during the course of his employment with the Company, the Executive may receive
special training and/or may be given access to or may become acquainted with Confidential Information (as hereinafter defined)
of the Company. As used in this Section 6.1, “Confidential Information” of the Company means all trade practices,
business plans, price lists, supplier lists, customer lists, marketing plans, financial information, software and all other compilations
of information which relate to the business of the Company, or to any of its subsidiaries, and which have not been disclosed by
the Company to the public, or which are not otherwise generally available to the public.

 

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The
Executive acknowledges that the Confidential Information of the Company, as such may exist from time to time, are valuable, confidential,
special and unique assets of the Company and its subsidiaries, expensive to produce and maintain and essential for the profitable
operation of their respective businesses. The Executive agrees that, during the course of his employment with the Company, or
at any time thereafter, he shall not, directly or indirectly, communicate, disclose or divulge to any Person (as such term is
hereinafter defined), or use for his benefit or the benefit of any Person, in any manner, any Confidential Information of the
Company or its subsidiaries acquired during his employment with the Company or any other confidential information concerning the
conduct and details of the businesses of the Company and its subsidiaries, except as required in the course of his employment
with the Company or as otherwise may be required by law. For purposes if this Agreement, “Person” shall mean
any individual, partnership, corporation, trust, unincorporated association, joint venture, limited liability company or other
entity or any government, governmental agency or political subdivision.

 

All
documents relating to the businesses of the Company and its affiliates including, without limitation, Confidential Information
of the Company, whether prepared by the Executive or otherwise coming into the Executive's possession, are the exclusive property
of the Company and such respective subsidiaries, and must not be removed from the premises of the Company, except as required
in the course of the Executive's employment with the Company. The Executive shall return all such documents (including any copies
thereof) to the Company when the Executive ceases to be employed by the Company or upon the earlier request of the Company or
the Board.

 

6.2           Noncompetition.
During the term of this Agreement (including any extensions thereof) and for a period of one year following the termination of
the Executive's employment under this Agreement for any reason, the Executive shall not, except with the Company's express prior
written consent, for the benefit of any entity or person (including the Executive) compete with the Business (as hereinafter defined)
within the Territory. For purposes of this Agreement, “Business” shall mean a company involved in the manufacture
and sale of pumps, valves or fluid handling systems of the kind that are produced by the Company or that are competitive with
the pumps, valves or fluid handling systems that are produced by the Company. For purposes of this Agreement, “Territory”
shall mean those locations in the United States of America in which the Company is operating and those locations abroad in which
the Company has significant operations, including, but not limited to, Germany, China and India.

 

6.3           Non-Solicitation.
During the term of this Agreement (including any extension thereof) and for a period of two (2) years following the termination
of the Executive’s termination under this Agreement for any reason, the Executive shall not, except with the Company’s
express prior written consent, for the benefit of any entity or person (including the Executive) solicit, induce or encourage
any employee of the Company, or any of its subsidiaries, to leave the employment of the Company or solicit, induce or encourage
any customer, or client of the Company, or any of its subsidiaries, to cease or reduce its business with the Company or its subsidiaries.

 

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6.4           Cooperation
With Regard to Litigation.     Executive agrees to cooperate with the Company, during the term and
thereafter (including following Executive’s termination of employment for any reason), by making himself available to testify
on behalf of the Company or any subsidiary or affiliate of the Company, in any action, suit, or proceeding, whether civil, criminal,
administrative, or investigative, and to assist the Company, or any subsidiary or affiliate of the Company, in any such action,
suit, or proceeding, by providing information and meeting and consulting with the Board or its representatives or counsel, or
representatives or counsel to the Company, or any subsidiary or affiliate of the Company, as may be reasonably requested and after
taking into account Executive’s post-termination responsibilities and obligations. The Company agrees to reimburse Executive,
on an after-tax basis, for all reasonable expenses actually incurred in connection with his provision of testimony or assistance.

 

6.5           Non-Disparagement.
Executive shall not, at any time during the Term and thereafter make statements or representations, or otherwise communicate,
directly or indirectly, in writing, orally, or otherwise, or take any action which may, directly or indirectly, disparage or be
damaging to the Company, its subsidiaries or affiliates or their respective officers, directors, employees, advisors, businesses
or reputations, nor shall members of the Board of Directors or Executive’s successor in office make any such statements
or representations regarding Executive. Notwithstanding the foregoing, nothing in this Agreement shall preclude Executive or his
successor or members of the Board of Directors from making truthful statements that are required by applicable law, regulation
or legal process.

 

6.6           Survival.     The
provisions of this Section 6 shall survive the termination of the Term and any termination or expiration of this Agreement.

 

6.7           Remedies.
Executive agrees that any breach of the terms of this Section 6 would result in irreparable injury and damage to the Company for
which the Company would have no adequate remedy at law; Executive therefore also agrees that in the event of said breach or any
threat of breach and notwithstanding Section 7 the Company shall be entitled to an immediate injunction and restraining order
from a court of competent jurisdiction to prevent such breach and/or threatened breach and/or continued breach by Executive and/or
any and all persons and/or entities acting for and/or with Executive, without having to prove damages. The availability of injunctive
relief shall be in addition to any other remedies to which the Company may be entitled at law or in equity, but remedies other
than injunctive relief may only be pursued in an arbitration brought in accordance with Section 7. The terms of this paragraph
shall not prevent the Company from pursuing in an arbitration any other available remedies for any breach or threatened breach
of this Section 6, including but not limited to the recovery of damages from Executive. Executive hereby further agrees that,
if it is ever determined, in an arbitration brought in accordance with Section 7, that willful actions by Executive have constituted
wrongdoing that contributed to any material misstatement or omission from any report or statement filed by the Company with the
U.S. Securities and Exchange Commission or material fraud against the Company, then the Company, or its successor, as appropriate,
may recover all of any award or payment made to Executive, less the amount of any net tax owed by Executive with respect to such
award or payment over the tax benefit to Executive from the repayment or return of the award or payment, pursuant to Section 5.1,
and Executive agrees to repay and return such awards and amounts to the Company within 30 calendar days of receiving notice from
the Company that the Board has made the determination referenced above and accordingly the Company is demanding repayment pursuant
to this Section 6.7. The Company or its successor may, in its sole discretion, affect any such recovery by (i) obtaining repayment
directly from Executive; (ii) setting off the amount owed to it against any amount or award that would otherwise be payable by
the Company to Executive; or (iii) any combination of (i) and (ii) above.

 

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7.          Governing
Law; Disputes; Arbitration.

 

7.1           Governing
Law. This Agreement is governed by and is to be construed, administered, and enforced in accordance with the laws of the State
of Maryland, without regard to conflicts of law principles. If under the governing law, any portion of this Agreement is at any
time deemed to be in conflict with any applicable statute, rule, regulation, ordinance, or other principle of law, such portion
shall be deemed to be modified or altered to the extent necessary to conform thereto or, if that is not possible, to be omitted
from this Agreement. The invalidity of any such portion shall not affect the force, effect, and validity of the remaining portion
hereof. If any court determines that any provision of Section 7 is unenforceable because of the duration or geographic scope of
such provision, it is the parties’ intent that such court shall have the power to modify the duration or geographic scope
of such provision, as the case may be, to the extent necessary to render the provision enforceable and, in its modified form,
such provision shall be enforced.

 

7.2           Arbitration.
Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration in
the City of Washington, D.C. by three arbitrators in accordance with the National Rules for the Resolution of Employment
Disputes of the American Arbitration Association in effect at the time of submission to arbitration. Judgment may be entered
on the arbitrators’ award in any court having jurisdiction. For purposes of entering any judgment upon an award
rendered by the arbitrators, the Company and Executive hereby consent to the jurisdiction of any or all of the following
courts: (i) the United States District Court for the Fourth Circuit, (ii) any of the courts of the State of Maryland, or
(iii) any other court having jurisdiction. The Company and Executive further agree that any service of process or notice
requirements in any such proceeding shall be satisfied if the rules of such court relating thereto have been substantially
satisfied. The Company and Executive hereby waive, to the fullest extent permitted by applicable law, any objection which it
may now or hereafter have to such jurisdiction and any defense of inconvenient forum. The Company and Executive hereby agree
that a judgment upon an award rendered by the arbitrators may be enforced in other jurisdictions by suit on the judgment or
in any other manner provided by law. Each party shall bear its or his costs and expenses arising in connection with any
arbitration proceeding pursuant to this Section 7. Notwithstanding any provision in this Section 7, Executive shall be paid
compensation due and owing under this Agreement during the pendency of any dispute or controversy arising under or in
connection with this Agreement.

 

7.3       WAIVER
OF JURY TRIAL.   TO THE EXTENT APPLICABLE, EACH OF THE PARTIES TO THIS AGREEMENT HEREBY AGREES TO WAIVE ITS
RESPECTIVE RIGHTS TO A JURY TRIAL FOR ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS
BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT. This provision is subject to Section 7.2, requiring arbitration
of disputes hereunder.

 

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8.          Miscellaneous.

 

8.1           Integration.
This Agreement cancels and supersedes any and all prior agreements and understandings between the parties hereto with respect
to the employment of Executive by the Company, any parent or predecessor company, and the Company’s subsidiaries during
the Term, but excluding existing contracts relating to compensation under executive compensation and employee benefit plans of
the Company and its subsidiaries. This Agreement constitutes the entire agreement among the parties with respect to the matters
herein provided, and no modification or waiver of any provision hereof shall be effective unless in writing and signed by the
parties hereto. Executive shall not be entitled to any payment or benefit under this Agreement which duplicates a payment or benefit
received or receivable by Executive under such prior agreements and understandings or under any benefit or compensation plan of
the Company.

 

8.2           Successors;
Transferability. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise, and whether or not the corporate existence of the Company continues) to all or substantially all of the business and/or
assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company”
shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and
agrees to perform this Agreement by operation of law, or otherwise and, in the case of an acquisition of the Company in which
the corporate existence of the Company continues, the ultimate parent company following such acquisition. Subject to the foregoing,
the Company may transfer and assign this Agreement and the Company’s rights and obligations hereunder to another entity
that is substantially comparable to the Company in its financial strength and ability to perform the Company’s obligations
under this Agreement. Neither this Agreement nor the rights or obligations hereunder of the parties hereto shall be transferable
or assignable by Executive, except in accordance with the laws of descent and distribution or as specified in Section 8.3.

 

8.3           Beneficiaries.
Executive shall be entitled to designate (and change, to the extent permitted under applicable law) a beneficiary or beneficiaries
to receive any compensation or benefits provided hereunder following Executive’s death.

 

8.4           Notices.
Whenever under this Agreement it becomes necessary to give notice, such notice shall be in writing, signed by the party or parties
giving or making the same, and shall be served on the person or persons for whom it is intended or who should be advised or notified,
by Federal Express or other similar overnight service or by certified or registered mail, return receipt requested, postage prepaid
and addressed to such party at the address set forth below or at such other address as may be designated by such party by like
notice:

 

If to the Company:

 

Colfax Corporation

Attn:
Senior Vice President, Human Resources

8730
Stony Point Parkway, Suite 150

Richmond,
VA 23235

 

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With a copy to:

 

Michael Silver, Esquire

Hogan Lovells

555 13th Street
NW

Washington, D.C. 20004

 

If to Executive:

 

Daniel A. Pryor

[REDACTED]

If the parties
by mutual agreement supply each other with fax numbers for the purposes of providing notice by facsimile, such notice shall also
be proper notice under this Agreement. In the case of Federal Express or other similar overnight service, such notice or advice
shall be effective when sent, and, in the cases of certified or registered mail, shall be effective two days after deposit into
the mails by delivery to the U.S. Post Office.

 

8.5           Reformation.
The invalidity of any portion of this Agreement shall not be deemed to render the remainder of this Agreement invalid.

 

8.6           Headings.
The headings of this Agreement are for convenience of reference only and do not constitute a part hereof.

 

8.7           No
General Waivers. The failure of any party at any time to require performance by any other party of any provision hereof or
to resort to any remedy provided herein or at law or in equity shall in no way affect the right of such party to require such
performance or to resort to such remedy at any time thereafter, nor shall the waiver by any party of a breach of any of the provisions
hereof be deemed to be a waiver of any subsequent breach of such provisions. No such waiver shall be effective unless in writing
and signed by the party against whom such waiver is sought to be enforced.

 

8.8           Offsets;
Withholding. The amounts required to be paid by the Company to Executive pursuant to this Agreement shall not be subject to
offset other than with respect to any amounts that are owed to the Company by Executive due to his receipt of funds as a result
of his fraudulent activity. The foregoing and other provisions of this Agreement notwithstanding, all payments to be made to Executive
under this Agreement, including under Sections 4 and 5, or otherwise by the Company, will be subject to withholding to satisfy
required withholding taxes and other required deductions.

 

8.9           Successors
and Assigns. This Agreement shall be binding upon and shall inure to the benefit of Executive, his heirs, executors, administrators
and beneficiaries, and shall be binding upon and inure to the benefit of the Company and its successors and assigns.

 

    	10

    	 

    

 

8.10         Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed to be an original but all of which together will
constitute one and the same instrument.

 

8.11         Representations
of Executive. Executive represents and warrants to the Company that he has the legal right to enter into this Agreement and
to perform all of the obligations on his part to be performed hereunder in accordance with its terms and that he is not a party
to any agreement or understanding, written or oral, which prevents him from entering into this Agreement or performing all of
his obligations hereunder.

 

9.          D&O
Insurance.

 

The
Company will maintain directors’ and officers’ liability insurance during the Term and for a period of six years thereafter,
covering acts and omissions of Executive during the Term, on terms substantially no less favorable than those in effect on the
Effective Date.

 

10.         Definitions
Relating to Termination Events.

 

10.1        Cause.
For purposes of this Agreement, “Cause” shall mean Executive’s:

 

		(i)	Conviction
                                                                                               for commission of a felony or a
                                                                                               crime involving moral turpitude;

 

		(ii)	Willful
                                                              commission of any act of theft, fraud, embezzlement or misappropriation
                                                              against the Company or its subsidiaries or affiliates; or

 

		(iii)	Continued
                                                               failure to substantially perform Executive’s duties hereunder
                                                               (other than such failure resulting from Executive’s incapacity
                                                               due to physical or mental illness), which failure is not remedied
                                                               within 30 calendar days after written demand for substantial performance
                                                               is delivered by the Company which specifically identifies the manner
                                                               in which the Company believes that Executive has not substantially
                                                               performed Executive’s duties.

 

10.2        Change
in Control. For purposes of this Agreement, a “Change in Control” means the following:

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		(i)	A transaction
                                                             or series of transactions (other than an offering of Stock to the
                                                             general public through a registration statement filed with the Securities
                                                             and Exchange Commission) whereby any “person” or related
                                                             “group” of “persons” (as such terms are used
                                                             in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of
                                                             1934, as amended (the “Exchange Act”)) (other
                                                             than the Company, any of its subsidiaries, an employee benefit plan
                                                             maintained by the Company or any of its subsidiaries or a “person”
                                                             that, prior to such transaction or on the Effective Date, directly
                                                             or indirectly controls, is controlled by, or is under common control
                                                             with, the Company) directly or indirectly acquires beneficial ownership
                                                             (within the meaning of Rule 13d-3 under the Exchange Act) of securities
                                                             of the Company and immediately after such acquisition possesses more
                                                             than 50% of the total combined voting power of the Company’s
                                                             securities outstanding immediately after such acquisition; or

 

		(ii)	During
                                                              any period of two consecutive years, individuals who, at the beginning
                                                              of such period, constitute the Board together with any new director(s)
                                                              (other than a director designated by a person who shall have entered
                                                              into an agreement with the Company to effect a transaction described
                                                              in Section 10.2(i) hereof or Section 10.2(iii) hereof) whose election
                                                              by the Board or nomination for election by the Company’s stockholders
                                                              was approved by a vote of at least two-thirds of the directors then
                                                              still in office who either were directors at the beginning of the
                                                              two-year period or whose election or nomination for election was
                                                              previously so approved, cease for any reason to constitute a majority
                                                              thereof; or

 

		(iii)	The
                                                               consummation by the Company (whether directly involving the Company
                                                               or indirectly involving the Company through one or more intermediaries)
                                                               of (x) a merger, consolidation, reorganization, or business combination
                                                               or (y) a sale or other disposition of all or substantially all
                                                               of the Company’s assets in any single transaction or series
                                                               of related transactions or (z) the acquisition of assets or stock
                                                               of another entity, in each case other than a transaction:

 

		(A)	Which
                                                             results in the Company’s voting securities outstanding immediately
                                                             before the transaction continuing to represent (either by remaining
                                                             outstanding or by being converted into voting securities of the Company
                                                             or the person that, as a result of the transaction, controls, directly
                                                             or indirectly, the Company or owns, directly or indirectly, all or
                                                             substantially all of the Company’s assets or otherwise succeeds
                                                             to the business of the Company (the Company or such person, the “Successor
                                                             Entity”)) directly or indirectly, at least a majority of
                                                             the combined voting power of the Successor Entity’s outstanding
                                                             voting securities immediately after the transaction; and

 

		(B)	After
                                                             which no person or group (as such terms are used in Sections 13(d)
                                                             and 14(d)(2) of the Exchange Act) beneficially owns (within the meaning
                                                             of Rule 13d-3 under the Exchange Act) voting securities representing
                                                             50% or more of the combined voting power of the Successor Entity;
                                                             provided, however, that no person or group shall be treated for purposes
                                                             of this Section 10.2(iii)(B) as beneficially owning 50% or more of
                                                             combined voting power of the Successor Entity solely as a result
                                                             of the voting power held in the Company prior to the consummation
                                                             of the transaction; or

    	12

    	 

    

  

		(iv)	The Company’s
                                                              stockholders approve a liquidation or dissolution of the Company
                                                              and all material contingencies to such liquidation or dissolution
                                                              have been satisfied or waived.

 

10.3        Change
in Control Event. For purposes of this Agreement, “Change in Control Event” means the earlier to occur
of (i) a Change in Control or (ii) the execution and delivery by the Company of a definitive agreement providing for a Change
in Control.

 

10.4        Compensation
Accrued at Termination. For purposes of this Agreement, “Compensation Accrued at Termination” means the
following: 

 

		(i)	The unpaid
                                                             portion of annual Base Salary at the rate payable, in accordance
                                                             with Section 2.1 hereof, at the date of Executive’s termination
                                                             of employment, pro rated through such date of termination, payable
                                                             in accordance with the Company’s regular pay schedule;

 

		(ii)	Except
                                                              as otherwise provided in this Agreement, all earned and unpaid and/or
                                                              vested, nonforfeitable amounts owing or accrued at the date of Executive’s
                                                              termination of employment under any compensation and benefit plans,
                                                              programs, and arrangements set forth or referred to in Sections
                                                              2.2 and 2.3 hereof (including any earned and vested Annual Cash
                                                              Incentive) in which Executive theretofore participated, payable
                                                              in accordance with the terms and conditions of the plans, programs,
                                                              and arrangements (and agreements and documents thereunder) pursuant
                                                              to which such compensation and benefits were granted or accrued;
                                                              and

 

		(iii)	Reasonable
                                                               business expenses and disbursements incurred by Executive prior
                                                               to Executive’s termination of employment, to be reimbursed
                                                               to Executive, as authorized under Section 2.5, in accordance the
                                                               Company’s reimbursement policies as in effect at the date
                                                               of such termination.

 

10.5        Disability.
For purposes of this Agreement, “Disability” means the Executive is unable due to a physical or mental condition
to perform the essential functions of his position with or without reasonable accommodation for six (6) months in the aggregate
during any twelve (12) month period or based on the written certification by two licensed physicians of the likely continuation
of such condition for such period. This definition shall be interpreted and applied consistent with the Americans with Disabilities
Act, the Family and Medical Leave Act, Section 409A of the Code and other applicable law.

 

10.6        Good
Reason. For purposes of this Agreement, “Good Reason” shall mean, without Executive’s express written
consent, the occurrence of any of the following circumstances unless, if correctable, such circumstances are fully corrected within
30 days of the notice of termination given in respect thereof:

 

    	13

    	 

    

 

		(i)	Upon or
                                                             following a Change in Control Event, (A) the assignment to Executive
                                                             of duties materially inconsistent with Executive’s position
                                                             and status hereunder, or (B) an alteration, materially adverse to
                                                             Executive, in the nature of Executive’s duties, responsibilities,
                                                             and authorities, Executive’s position or the conditions of
                                                             Executive’s employment from those specified in Section 1 or
                                                             otherwise hereunder (other than inadvertent actions which are promptly
                                                             remedied); except the foregoing shall not constitute Good Reason
                                                             if occurring (X) in connection with the termination of Executive’s
                                                             employment for Cause, Disability, or as a result of Executive’s
                                                             death, (Y) as a result of action by or with the consent of Executive
                                                             or (Z) as a result of reasonable adjustments in Executive's range
                                                             of duties, responsibilities and authorities in the event that the
                                                             Change of Control Event results in a significantly larger Successor
                                                             Entity and the Board of Directors of the Successor Entity concludes
                                                             that the Executive’s duties, responsibilities and authorities
                                                             need to be adjusted (to include a change in title or reporting to
                                                             another senior executive officer); provided, however, that such adjustments
                                                             do not reduce Executive’s compensation;

 

		(ii)	The Company
                                                              requiring Executive to relocate his principal place of business
                                                              for the Company to a location at least 35 miles from his current
                                                              place of business, and which is at least 35 miles longer distance
                                                              from his place of residence;

 

		(iii)	The
                                                                                                failure of the Company to obtain
                                                                                                a satisfactory agreement from
                                                                                                any successor to the Company to
                                                                                                fully assume the Company’s
                                                                                                obligations and to perform under
                                                                                                this Agreement; or

 

		(iv)	Any other failure by the Company
to perform any material obligation under, or breach by the Company of any material provision of, this Agreement.

 

		10.7	Partial
                                                            Year Bonus. For purposes of this Agreement, a Partial Year Bonus
                                                            is payable to the Executive for the year of the Executive’s
                                                            employment termination in the event the Company performance criteria
                                                            for payment of an Annual Cash Incentive are achieved as of the close
                                                            of the year at the level required for a payout at the target level
                                                            or above. Any such Partial Year Bonus shall equal the Executive’s
                                                            target Annual Cash Incentive compensation multiplied by a fraction
                                                            of the numerator of which is the number of days the Executive was
                                                            employed by the Company in the year of termination and the denominator
                                                            of which is the total number of days in the year of termination. Should
                                                            any such Partial Year Bonus become payable under this Agreement, payment
                                                            shall be made to the Executive at the same time as payment is made
                                                            to all other participants under the Annual Cash incentive compensation
                                                            program following the close of the year.

 

    	14

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have signed their names as of the day and year first above written.

 

	 	COLFAX CORPORATION
	 	 	 
	 	By:	/s/ Clay H. Kiefaber
	 	Name: 	Clay H. Kiefaber
	 	Title:	President & CEO
	 	 	 
	 	/s/ Daniel A. Pryor
	 	Daniel A. Pryor

 

    	15

    	 

    

 

EXHIBIT A

 

WAIVER AND
RELEASE AGREEMENT

 

THIS
WAIVER AND RELEASE AGREEMENT is entered into as of [TO BE DETERMINATED AT TERMINATION OF EMPLOYMENT] (the “Effective
Date”), by Daniel A. Pryor (the “Executive”) in consideration of the severance pay provided to the
Executive by Colfax Corporation (the “Company”) pursuant to the Executive Employment Agreement (the “Employment
Agreement”) by and between the Company and the Executive (the “Severance Payment”).

 

1.          Waiver
and Release. The Executive, on his or her own behalf and on behalf of his or her heirs, executors, administrators, attorneys
and assigns, hereby unconditionally and irrevocably releases, waives and forever discharges the Company and each of its affiliates,
parents, successors, predecessors, and the subsidiaries, directors, owners, members, shareholders, officers, agents, and employees
of the Company and its affiliates, parents, successors, predecessors, and subsidiaries (collectively, all of the foregoing are
referred to as the “Employer”), from any and all causes of action, claims and damages, including attorneys’
fees, whether known or unknown, foreseen or unforeseen, presently asserted or otherwise arising through the date of his or her
signing of the Waiver and Release Agreement, concerning his or her employment or separation from employment. This release includes,
but is not limited to, any claim or entitlement to salary, bonuses (but not including payment of any remaining bonus under the
Employment Agreement), any other payments, benefits or damages arising under any federal law (including, but not limited to, Title
VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Employee Retirement Income Security Act of
1974, the Americans with Disabilities Act, Executive Order 11246, the Family and Medical Leave Act, and the Worker Adjustment
and Retraining Notification Act, each as amended); any claim arising under any state or local laws, ordinances or regulations
(including, but not limited to, any state or local laws, ordinances or regulations requiring that advance notice be given of certain
workforce reductions); and any claim arising under any common law principle or public policy, including, but not limited to, all
suits in tort or contract, such as wrongful termination, defamation, emotional distress, invasion of privacy or loss of consortium.

 

The
Executive understands that by signing this Waiver and Release Agreement he or she is not waiving any claims or administrative
charges which cannot be waived by law. He or she is waiving, however, any right to monetary recovery or individual relief should
any federal, state or local agency (including the Equal Employment Opportunity Commission) pursue any claim on his or her behalf
arising out of or related to his or her employment with and/or separation from employment with the Company.

 

The
Executive further agrees without any reservation whatsoever, never to sue the Employer or become a party to a lawsuit on the basis
of any and all claims of any type lawfully and validly released in this Waiver and Release Agreement.

 

2.          Acknowledgments.
The Executive is signing this Waiver and Release Agreement knowingly and voluntarily. He or she acknowledges that:

 

		(a)	He or
                                                               she is hereby advised in writing to consult an attorney before
                                                               signing this Waiver and Release Agreement;

 

    	 

    	 

    
 

		(b)	He or
                                                               she has relied solely on his or her own judgment and/or that of
                                                               his or her attorney regarding the consideration for and the terms
                                                               of this Waiver and Release Agreement and is signing this Waiver
                                                               and Release Agreement knowingly and voluntarily of his or her own
                                                               free will;

 

		(c)	He or
                                                               she is not entitled to the Severance Payment unless he or she agrees
                                                               to and honors the terms of this Waiver and Release Agreement;

 

		(d)	He or
                                                               she has been given at least [twenty-one (21)] [forty-five (45)]
                                                               calendar days to consider this Waiver and Release Agreement,
                                                               or he or she expressly waives his or her right to have at least
                                                               [twenty-one (21)] [forty-five (45)] days to consider this
                                                               Waiver and Release Agreement;

 

		(e)	He or
                                                               she may revoke this Waiver and Release Agreement within seven (7)
                                                               calendar days after signing it by submitting a written notice of
                                                               revocation to the Employer. He or she further understands that
                                                               this Waiver and Release Agreement is not effective or enforceable
                                                               until after the seven (7) day period of revocation has expired
                                                               without revocation, and that if he or she revokes this Waiver and
                                                               Release Agreement within the seven (7) day revocation period, he
                                                               or she will not receive the Severance Payment;

 

		(f)	He or
                                                               she has read and understands the Waiver and Release Agreement and
                                                               further understands that it includes a general release of any and
                                                               all known and unknown, foreseen or unforeseen claims presently
                                                               asserted or otherwise arising through the date of his or her signing
                                                               of this Waiver and Release Agreement that he or she may have against
                                                               the Employer; and

 

		(g)	No statements
                                                               made or conduct by the Employer has in any way coerced or unduly
                                                               influenced him or her to execute this Waiver and Release Agreement.

 

3.          No
Admission of Liability. This Waiver and Release Agreement does not constitute an admission of liability or wrongdoing
on the part of the Employer, the Employer does not admit there has been any wrongdoing whatsoever against the Executive, and the
Employer expressly denies that any wrongdoing has occurred.

 

4.          Entire
Agreement. There are no other agreements of any nature between the Employer and the Executive with respect to the matters
discussed in this Waiver and Release Agreement, except as expressly stated herein, and in signing this Waiver and Release Agreement,
the Executive is not relying on any agreements or representations, except those expressly contained in this Waiver and Release
Agreement.

 

5.          Execution.
It is not necessary that the Employer sign this Waiver and Release Agreement following the Executive's full and complete execution
of it for it to become fully effective and enforceable.

 

6.          Severability.
If any provision of this Waiver and Release Agreement is found, held or deemed by a court of competent jurisdiction to be
void, unlawful or unenforceable under any applicable statute or controlling law, the remainder of this Waiver and Release Agreement
shall continue in full force and effect.

    	 

    	 

    

 

7.           Governing
Law. This Waiver and Release Agreement shall be governed by the laws of the State of Delaware, excluding the choice of
law rules thereof.

 

8.          Headings.
Section and subsection headings contained in this Waiver and Release Agreement are inserted for the convenience of reference
only. Section and subsection headings shall not be deemed to be a part of this Waiver and Release Agreement for any purpose, and
they shall not in any way define or affect the meaning, construction or scope of any of the provisions hereof.

 

IN
WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the day and year first herein above written.

 

	 	 
	 	Daniel A. Pryor

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