Document:

Exhibit 10.1

FORM OF SUBORDINATED NOTE PURCHASE AGREEMENT
This SUBORDINATED NOTE PURCHASE AGREEMENT (this “Agreement”) is dated as of December 5, 2022 and is made by and among First Western Financial, Inc., a Colorado corporation (the “Company”), and each purchaser of the Subordinated Notes (as defined herein) identified on the signature page hereto (each a “Purchaser” and collectively, the “Purchasers”).
RECITALS
WHEREAS, the Company has requested that the Purchasers purchase from the Company up to $20,000,000 in aggregate principal amount of Subordinated Notes, which aggregate amount is intended to qualify as Tier 2 Capital (as defined herein);
WHEREAS, the Company has engaged Keefe, Bruyette & Woods, Inc. as its exclusive placement agent (“Placement Agent”) for the offering of the Subordinated Notes;
WHEREAS, each of the Purchasers is an institutional “accredited investor” as such term is defined in Rule 501(a)(1)-(3) and (7) of Regulation D (“Regulation D”) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), or a QIB (as defined below);
WHEREAS, the offer and sale of the Subordinated Notes by the Company is being made in reliance upon the exemptions from registration available under Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D; and
WHEREAS, each Purchaser is willing to purchase from the Company a Subordinated Note in the principal amount set forth on such Purchaser’s respective signature page hereto (the “Subordinated Note Amount”) in accordance with the terms, subject to the conditions and in reliance on, the recitals, representations, warranties, covenants and agreements set forth herein and in the Subordinated Notes.
NOW, THEREFORE, in consideration of the mutual covenants, conditions and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:
AGREEMENT
1.DEFINITIONS.
1.1Defined Terms.  The following capitalized terms used in this Agreement have the meanings defined or referenced below.  Certain other capitalized terms used only in specific sections of this Agreement may be defined in such sections. 
“Affiliate(s)” means, with respect to any Person, such Person’s immediate family members, partners, members or parent and Subsidiary corporations, and any other Person directly or indirectly controlling, controlled by, or under common control with said Person and their respective Affiliates.
“Agreement” has the meaning set forth in the preamble hereto.

1094795882\3\AMERICAS

“Applicable Procedures” means, with respect to any creation, transfer or exchange of or for beneficial interests in any Subordinated Note represented by a global certificate, the rules and procedures of DTC that apply to such transfer or exchange.
“Bank” means First Western Trust Bank, a Colorado state-chartered bank and wholly owned Subsidiary of the Company. 
“Business Day” means any day other than a Saturday, Sunday or any other day on which banking institutions in the State of Colorado are permitted or required by any applicable law or executive order to close.
“Bylaws” means the Amended and Restated Bylaws of the Company, as in effect on the Closing Date.
“Charter” means the Amended and Restated Articles of Incorporation of the Company, as in effect on the Closing Date. 
“Closing” has the meaning set forth in Section 2.2.
“Closing Date” means December 5, 2022.
“Company” has the meaning set forth in the preamble hereto and shall include any successors to the Company.
“Company Covered Person” has the meaning set forth in Section 4.2.4.
“Company’s Reports” means (i) the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on March 15, 2022, including the audited financial statements of the Company contained therein; (ii) the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022, and September 30, 2022, as filed with the SEC on May 6, 2022, August 5, 2022, and November 4, 2022, respectively, including the unaudited financial statements of the Company contained therein; (iii) the Company’s Current Reports on Form 8-K, as filed with the SEC on January 3, 2022, January 27, 2022, February 11, 2022, March 4, 2022, March 10, 2022, April 28, 2022, May 3, 2022, June 6, 2022, June 9, 2022, July 28, 2022, August 1, 2022, October 20, 2022, and November 1, 2022; (iv) the Company’s Definitive Proxy Statement, as filed with the SEC on April 28, 2022; and (v) the Company’s public reports for the year ended December 31, 2021 and the periods ended March 31, June 30 and September 30, 2022; as filed with the FRB as required by regulations of the FRB.
“control” (including the terms “controlling,” “controlled by” and “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.
“Disqualification Event” has the meaning set forth in Section 4.2.4.
“DTC” means The Depository Trust Company.

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“Equity Interest” means any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person which is not a corporation, and any and all warrants, options or other rights to purchase any of the foregoing.
“Event of Default” has the meaning set forth in the Subordinated Notes.
“Exchange Act” means the Securities Exchange Act of 1934, as amended. 
“FDIC” means the Federal Deposit Insurance Corporation.
“FRB” means the Board of Governors of the Federal Reserve System.
“GAAP” means generally accepted accounting principles in effect from time to time in the United States of America.
“Global Note” has the meaning set forth in Section 3.1.
“Governmental Agency(ies)” means, individually or collectively, any federal, state, county or local governmental department, court, commission, board, regulatory authority or agency (including, without limitation, each applicable Regulatory Agency) with jurisdiction over the Company or any of its Subsidiaries.
“Governmental Licenses” has the meaning set forth in Section 4.3.
“Hazardous Materials” means flammable explosives, asbestos, urea formaldehyde insulation, polychlorinated biphenyls, radioactive materials, hazardous wastes, toxic or contaminated substances or similar materials, including, without limitation, any substances which are “hazardous substances,” “hazardous wastes,” “hazardous materials” or “toxic substances” under the Hazardous Materials Laws and/or other applicable environmental laws, ordinances or regulations.
“Hazardous Materials Laws” mean any laws, regulations, permits, licenses or requirements pertaining to the protection, preservation, conservation or regulation of the environment which relates to real property, including:  the Clean Air Act, as amended, 42 U.S.C. Section 7401 et seq.; the Federal Water Pollution Control Act, as amended, 33 U.S.C. Section 1251 et seq.; the Resource Conservation and Recovery Act of 1976, as amended, 42 U.S.C. Section 6901 et seq.; the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (including the Superfund Amendments and Reauthorization Act of 1986), 42 U.S.C. Section 9601 et seq.; the Toxic Substances Control Act, as amended, 15 U.S.C. Section 2601 et seq.; the Occupational Safety and Health Act, as amended, 29 U.S.C. Section 651, the Emergency Planning and Community Right-to-Know Act of 1986, 42 U.S.C. Section 11001 et seq.; the Mine Safety and Health Act of 1977, as amended, 30 U.S.C. Section 801 et seq.; the Safe Drinking Water Act, 42 U.S.C. Section 300f et seq.; and all comparable state and local laws, laws of other jurisdictions or orders and regulations.
“Indebtedness” means:  (i) all obligations in respect of indebtedness for borrowed money that, according to GAAP as in effect from time to time, would be included in determining total 

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liabilities as shown on the consolidated balance sheet of the Company; and (ii) all obligations for indebtedness of the type referred to in the preceding clause (i) secured by any lien on property owned by the Company or any Subsidiary whether or not such obligations shall have been assumed; provided, however, Indebtedness shall not include deposits or other indebtedness created, incurred or maintained in the ordinary course of the Company’s or the Bank’s business (including, without limitation, federal funds purchased, advances from any Federal Home Loan Bank, secured deposits of municipalities, letters of credit issued by the Company or the Bank or any other Subsidiary, repurchase arrangements and derivatives transactions) and consistent with customary banking practices and applicable laws and regulations.
“Investor Presentation” means that certain investor presentation furnished on Form 8-K with the SEC on November 1, 2022.
“Leases” means all leases, licenses or other documents providing for the use or occupancy of any portion of any Property, including all amendments, extensions, renewals, supplements, modifications, sublets and assignments thereof and all separate letters or separate agreements relating thereto.
“Material Adverse Effect” means any change or effect that (i) is or would be reasonably likely to be material and adverse to the financial condition, results of operations or business of the Company or its Subsidiaries, taken as a whole, or (ii) would materially impair the ability of the Company to perform its respective obligations under any of the Transaction Documents, or otherwise materially impede the consummation of the transactions contemplated hereby; provided, however, that “Material Adverse Effect” shall not be deemed to include the impact of (1) changes after the date of this Agreement in banking and similar laws, rules or regulations of general applicability or interpretations thereof by Governmental Agencies; (2) changes after the date of this Agreement in GAAP or regulatory accounting requirements applicable to financial institutions in the United States and their holding companies generally; (3) changes after the date of this Agreement in general economic or capital market conditions affecting financial institutions or their market prices generally and not specifically related to the Company or the Bank; (4) direct effects of compliance with this Agreement on the operating performance of the Company or the Bank including expenses incurred by the Company, the Bank or the Purchasers in consummating the transactions contemplated by this Agreement; (5) the effects of any action or omission taken by the Company with the prior written consent of the Purchasers, and vice versa, or as otherwise contemplated by the Subordinated Note Purchase Agreements by and between the Company and each Purchaser and the Subordinated Notes; (6) the effects of any declaration of a state of emergency by the government of the United States or any State of the United States; and (7) the effects of any epidemic, pandemic or disease outbreak, or continuation or extension of any epidemic, pandemic or disease outbreak, affecting the United States, except, in the case of the foregoing clauses (1), (2), (3), (6) or (7), to the extent that the Company is disproportionately adversely affected thereby relative to other financial institutions with similar operations. 
“Maturity Date” means December 15, 2032.
“Paying Agent” means UMB Bank N.A, as paying agent and registrar under the Paying Agent Agreement, or any successor in accordance with the applicable provisions of the Paying Agent Agreement.

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“Paying Agent Agreement” means the Paying Agency and Registrar Agreement dated as of December 5, 2022, by and between the Company and UMB Bank N.A, as Paying Agent, as amended, modified or restated from time to time. 
“Person” means an individual, a corporation (whether or not for profit), a partnership, a limited liability company, a joint venture, an association, a trust, an unincorporated organization, a government or any department or agency thereof (including a Governmental Agency) or any other entity or organization.
“Placement Agent” has the meaning set forth in the Recitals.
“Property” means any real property owned or leased by the Company or any Affiliate or Subsidiary of the Company.
“Purchaser” or “Purchasers” has the meaning set forth in the preamble hereto.
“QIB” means a “qualified institutional buyer” as defined in Rule 144A under the Securities Act.
“Regulation D” has the meaning set forth in the Recitals.
“Regulatory Agency” means any federal or state agency charged with the supervision or regulation of depository institutions or holding companies of depository institutions, or engaged in the insurance of depository institution deposits, or any court, administrative agency or commission or other authority, body or agency having supervisory or regulatory authority with respect to the Company, the Bank or any of their Subsidiaries.
“SEC” means the U.S. Securities and Exchange Commission. 
“Secondary Market Transaction” has the meaning set forth in Section 5.5.
“Securities Act” has the meaning set forth in the Recitals.
“Significant Subsidiary” has the meaning given in Rule 1-02 of Regulation S-X under the Exchange Act.
“Subordinated Note” means the Subordinated Note (or collectively, the “Subordinated Notes”) in the form attached as Exhibit A hereto, as amended, restated, supplemented or modified from time to time, and each Subordinated Note delivered in substitution, subdivision or exchange for such Subordinated Note.
“Subordinated Note Amount” has the meaning set forth in the Recitals.
“Subsidiary” means with respect to any Person, any other Person in which a majority of the outstanding voting shares of Equity Interest entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees or equivalent Person or body thereof, is directly or indirectly owned by such Person.

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“Tier 2 Capital” has the meaning given to the term “Tier 2 capital” in 12 C.F.R. Part 217, as amended, modified and supplemented and in effect from time to time or any replacement thereof.
“Transaction Documents” means this Agreement, the Global Note and the Subordinated Notes.
1.2Interpretations.  The foregoing definitions are equally applicable to both the singular and plural forms of the terms defined.  The words “hereof”, “herein” and “hereunder” and words of like import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.  The word “including” when used in this Agreement without the phrase “without limitation,” shall mean “including, without limitation.” All references to time of day herein are references to Eastern Time unless otherwise specifically provided.  All references to this Agreement, the Paying Agent Agreement and the Subordinated Notes shall be deemed to be to such documents as amended, modified or restated from time to time.  With respect to any reference in this Agreement to any defined term, (i) if such defined term refers to a Person, then it shall also mean all heirs, legal representatives and permitted successors and assigns of such Person, and (ii) if such defined term refers to a document, instrument or agreement, then it shall also include any amendment, replacement, extension or other modification thereof.
1.3Exhibits Incorporated.  All Exhibits attached hereto are hereby incorporated into this Agreement.
2.SUBORDINATED DEBT.
2.1Certain Terms.  Subject to the terms and conditions herein contained, the Company hereby agrees to issue and sell to the Purchasers, severally and not jointly, Subordinated Notes in an aggregate principal amount equal to the aggregate of the Subordinated Note Amounts.  The Purchasers, severally and not jointly, each agree to purchase the Subordinated Notes from the Company in an amount equal to such Purchaser’s Subordinated Note Amount from the Company on the Closing Date in accordance with the terms of, and subject to the conditions set forth in, this Agreement and the Subordinated Notes. The Subordinated Note Amounts shall be disbursed in accordance with Section 3.1.
2.2The Closing.  The execution and delivery of the Transaction Documents and the closing of the sale and purchase of the Subordinated Notes (the “Closing”) shall occur remotely via electronic or other exchange of documents and signature pages, at 10:00 a.m. (local time) on the Closing Date, or at such other place or time or on such other date as the parties hereto may agree.
2.3No Right of Offset.  The Purchasers hereby expressly waive any right of offset they may have against the Company or any of its Subsidiaries.
2.4Use of Proceeds.  The Company shall use the net proceeds from the sale of the Subordinated Notes for general corporate purposes.

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3.DISBURSEMENT.
3.1Disbursement.  On the Closing Date, assuming all of the terms and conditions set forth in Section 3.2 have been satisfied by the Company or waived by the Purchaser and the Company has executed and delivered to each of the Purchasers a Subordinated Note Purchase Agreement and such Purchaser’s Subordinated Note and any other related documents in form and substance reasonably satisfactory to the Purchasers, each Purchaser shall disburse to the Company in immediately available funds the Subordinated Note Amount set forth on each Purchaser’s respective signature page to the Subordinated Note Purchase Agreements by and between the Company and each Purchaser in exchange for (a) a Subordinated Note with a principal amount equal to such Subordinated Note Amount, or (b) an electronic securities entitlement to be credited to the Purchaser’s account (or the account of the Purchaser’s securities intermediary) through the facilities of DTC in accordance with the Applicable Procedures of DTC with a principal amount equal to such Subordinated Note Amount, as applicable (the “Disbursement”).  The Company will deliver (i) to the Paying Agent, a global certificate representing the Subordinated Notes issued to Purchasers who are QIBs (the “Global Note”), registered in the name of Cede & Co., as a nominee for DTC, (ii) to each applicable Purchaser of the Subordinated Notes not represented by the Global Note, such Purchaser’s Subordinated Note in definitive form (or evidence of the same electronically with the original to be delivered by the Company within two (2) Business Days in accordance with the delivery instructions of the Purchaser), and (iii) to the Paying Agent, a list of Purchasers receiving the Subordinated Notes in Disbursement under clause (ii) above.
3.2Conditions Precedent to Disbursement.  
3.2.1Conditions to the Purchasers’ Obligation. The obligation of each Purchaser to consummate the purchase of the Subordinated Notes to be purchased by such Purchaser at Closing and to effect the Disbursement is subject to delivery by or at the direction of the Company to such Purchaser or, with respect to the Paying Agent Agreement, the Paying Agent, and with respect to the opinion of counsel, the Placement Agent, on or prior to the Closing Date, of  each of the following (unless such Purchaser shall have waived such satisfaction or delivery):
3.2.1.1Transaction Documents.  Each of the Transaction Documents has been duly authorized and executed by the Company and, in the case of the Global Note, duly authenticated by the Paying Agent.
3.2.1.2Authority Documents.
(a)A copy, certified by the Secretary or Assistant Secretary of the Company, of the Charter of the Company;
(b)A certificate of fact of good standing of the Company issued by the Secretary of State of the State of Colorado;
(c)A copy, certified by the Secretary or Assistant Secretary of the Company, of the Bylaws of the Company;
(d)A copy, certified by the Secretary or Assistant Secretary of the Company, of the resolutions of the Board of Directors of the Company, or any 

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duly authorized committee thereof, authorizing the execution, delivery and performance of the Transaction Documents;
(e)An incumbency certificate of the Secretary or Assistant Secretary of the Company certifying the names of the officer or officers of the Company authorized to sign the Transaction Documents and the other documents provided for in the Subordinated Note Purchase Agreements by and between the Company and each Purchaser; and
(f)The opinion of Norton Rose Fulbright US LLP, counsel to the Company, dated as of the Closing Date, substantially in the form set forth at Exhibit B attached hereto addressed to the Purchasers and the Placement Agent.
3.2.1.3Other Documents.  Such other certificates, affidavits, schedules, resolutions, notes and/or other documents which are provided for hereunder or as a Purchaser may reasonably request.
3.2.2Conditions to the Company’s Obligation.
3.2.2.1With respect to a given Purchaser, the obligation of the Company to consummate the sale of the Subordinated Notes and to effect the Closing is subject to the satisfaction or delivery by or at the direction of such Purchaser, on or prior to the Closing date, of each of the following (unless the Company shall have waived such satisfaction or delivery):
(a)The delivery to the Company of this Agreement duly authorized and executed by such Purchaser; and
(b)The disbursement to the Company in immediately available funds of the Subordinated Note Amount set forth on each Purchaser’s respective signature page to this Agreement. 
4.REPRESENTATIONS AND WARRANTIES OF THE COMPANY.
The Company hereby represents and warrants to each Purchaser, as of the date hereof, as follows:
4.1Organization and Authority.
4.1.1Organization Matters of the Company and Its Subsidiaries.
4.1.1.1The Company is a duly organized corporation, is validly existing and in good standing under the laws of the State of Colorado and has all requisite corporate power and authority to conduct its business and activities as presently conducted, to own its properties, and to perform its obligations under the Transaction Documents.  The Company is duly qualified as a foreign corporation to transact business and is in good standing in each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or to be in good standing would not 

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reasonably be expected to result in a Material Adverse Effect.  The Company is duly registered as a bank holding company under the Bank Holding Company Act of 1956, as amended.
4.1.1.2The Bank is the Significant Subsidiary of the Company. Each Subsidiary of the Company (other than the Bank) either has been duly organized and is validly existing as a corporation or limited liability company, or, in the case of the Bank, has been duly chartered and is validly existing as a Colorado state chartered bank, in each case in good standing under the laws of the jurisdiction of its incorporation, has the corporate or similar power and authority to own, lease and operate its properties and to conduct its business and is duly qualified as a foreign corporation to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to so qualify or to be in good standing would not reasonably be expected to result in a Material Adverse Effect. All of the issued and outstanding shares of capital stock or other Equity Interests in each Subsidiary of the Company have been duly authorized and validly issued, are fully paid and non-assessable and are owned by the Company, directly or through Subsidiaries of the Company, free and clear of any security interest, mortgage, pledge, lien, encumbrance or claim. None of the outstanding shares of capital stock of, or other Equity Interests in, any Subsidiary of the Company were issued in violation of the preemptive or similar rights of any security holder of such Subsidiary of the Company or any other entity.
4.1.1.3The Bank is a Colorado state-chartered bank.  The deposit accounts of the Bank are insured by the FDIC up to applicable limits.  The Bank has not received any written notice or other information indicating that the Bank is not an “insured depository institution” as defined in 12 U.S.C. Section 1813, nor has any event occurred which could reasonably be expected to materially and adversely affect the status of the Bank as an FDIC-insured institution.  
4.1.2Capital Stock and Related Matters.  The Charter of the Company authorizes the Company to issue 90,000,000 shares of common stock, with no par value, and 10,000,000 shares of preferred stock, no par value.  As of November 1, 2022, there were 9,492,006 shares of the Company’s common stock issued and outstanding, and no shares of the Company’s preferred stock issued and outstanding.  All the outstanding capital stock of the Company has been duly authorized and validly issued and is fully paid and non-assessable.  Except pursuant to the Company’s equity incentive plans duly adopted by the Company’s Board of Directors, there are, as of the date hereof, no outstanding options, rights, warrants or other agreements or instruments obligating the Company to issue, deliver or sell, or cause to be issued, delivered or sold, additional shares of the capital stock of the Company or obligating the Company to grant, extend or enter into any such agreement or commitment to any Person other than the Company.
4.2No Impediment to Transactions.
4.2.1Transaction is Legal and Authorized.  The issuance of the Subordinated Notes, the borrowing of the aggregate of the Subordinated Note Amount, the execution of the Transaction Documents and compliance by the Company with all the provisions of the Transaction Documents are within the corporate and other powers of the Company.  

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4.2.2Agreement.  This Agreement has been duly authorized, executed and delivered by the Company, and, assuming due authorization, execution and delivery by the other parties hereto, constitutes the legal, valid and binding obligations of the Company, enforceable against the Company in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights generally or by general equitable principles.
4.2.3Subordinated Notes.  The Subordinated Notes issued on the Closing Date have been duly authorized by the Company and when duly executed by the Company and issued by the Company and delivered to and paid for by the Purchasers in accordance with the terms of the Subordinated Note Purchase Agreements by and between the Company and each Purchaser, will have been duly executed, authenticated, issued and delivered, and will constitute legal, valid and binding obligations of the Company and enforceable against the Company in accordance with their terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights generally or by general equitable principles. 
4.2.4Exemption from Registration.  Neither the Company, nor any of its Subsidiaries or Affiliates, nor any Person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the Subordinated Notes.  Assuming the accuracy of the representations and warranties of each of the Purchasers set forth in the Subordinated Note Purchase Agreements by and between the Company and the Purchaser, the Subordinated Notes will be issued in a transaction exempt from the registration requirements of the Securities Act.  No “bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii) of the Securities Act (a “Disqualification Event”) is applicable to the Company or, to the Company’s knowledge, any Person described in Rule 506(d)(1) of Regulation D (each, a “Company Covered Person”).  To the Company’s knowledge, no Company Covered Person is subject to a Disqualification Event.  The Company has complied, to the extent applicable, with its disclosure obligations under Rule 506(e) of Regulation D.
4.2.5No Defaults or Restrictions.  Neither the execution and delivery of the Transaction Documents by the Company nor the compliance by the Company with their respective terms and conditions will (whether with or without the giving of notice or lapse of time or both) (i) violate, conflict with or result in a breach of, or constitute a default under:  (1) the Charter or Bylaws of the Company; (2) any of the terms, obligations, covenants, conditions or provisions of any corporate restriction or of any material contract, agreement, indenture, mortgage, deed of trust, pledge, bank loan or credit agreement, or any other agreement or instrument to which the Company or Bank, as applicable, is now a party or by which it or any of its properties may be bound or affected; (3) any judgment, order, writ, injunction, decree or demand of any court, arbitrator, grand jury, or Governmental Agency applicable to the Company or the Bank; or (4) any statute, rule or regulation applicable to the Company, except, in the case of items (2), (3) or (4), for such violations and conflicts, breaches and defaults that would not reasonably be expected to, singularly or in the aggregate, result in a Material Adverse Effect, or (ii) result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any material property or asset of the Company or its Subsidiaries.  Neither the Company nor the Bank is in default in the performance, observance or fulfillment of any of the terms, obligations, covenants, conditions or provisions 

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contained in any indenture or other agreement creating, evidencing or securing Indebtedness of any kind or pursuant to which any such Indebtedness is issued, or any other agreement or instrument to which the Company or the Bank, as applicable, is a party or by which the Company or the Bank, as applicable, or any of its properties may be bound or affected, except, in each case, for defaults that would not reasonably be expected to, singularly or in the aggregate, result in a Material Adverse Effect.
4.2.6Governmental Consent.  No governmental orders, permissions, consents, approvals or authorizations are required to be obtained by the Company that have not been obtained, and no registrations or declarations are required to be filed by the Company that have not been filed in connection with, or, in contemplation of, the execution and delivery of, and performance under, the Transaction Documents, except for applicable requirements, if any, of the Securities Act, the Exchange Act or state securities laws or “blue sky” laws of the various states and any applicable federal or state banking laws and regulations.
4.3Possession of Licenses and Permits.  The Company and each of its Subsidiaries possess such permits, licenses, approvals, consents and other authorizations (collectively, “Governmental Licenses”) issued by the appropriate Governmental Agencies necessary to conduct the business now operated by them except where the failure to possess such Governmental Licenses would not reasonably be expected to, singularly or in the aggregate, result in a Material Adverse Effect on the Company. The Company and each Subsidiary of the Company is in compliance with the terms and conditions of all such Governmental Licenses, except where the failure to so comply would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect on the Company . All the Governmental Licenses are valid and in full force and effect, except where the invalidity of such Governmental Licenses or the failure of such Governmental Licenses to be in full force and effect would not reasonably be expected to result in a Material Adverse Effect on the Company. Neither the Company nor any Subsidiary of the Company has received any written notice of proceedings relating to the revocation or modification of any such Governmental Licenses.
4.4Financial Condition.
4.4.1Company Financial Statements.  The financial statements of the Company included in the Company’s Reports (including the related notes, where applicable), which have been made available to the Purchasers (i) have been prepared from, and are in accordance with, the books and records of the Company; (ii) fairly present in all material respects the results of operations, cash flows, changes in stockholders’ equity and financial position of the Company and its consolidated Subsidiaries, for the respective fiscal periods or as of the respective dates therein set forth (subject in the case of unaudited statements to recurring year-end audit adjustments normal in nature and amount), as applicable; (iii) complied as to form, as of their respective dates of filing in all material respects with applicable accounting and banking requirements as applicable, with respect thereto; and (iv) have been prepared in accordance with GAAP consistently applied during the periods involved, except, in each case, as indicated in such statements or in the notes thereto.  The books and records of the Company have been, and are being, maintained in all material respects in accordance with GAAP and any other applicable legal and accounting requirements. The Company does not have any material liability of any nature whatsoever (whether absolute, accrued, contingent or otherwise and whether due or to become 

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due) required to be reflected on or reserved against in a balance sheet prepared in accordance with GAAP, except for those liabilities that are reflected or reserved against on the consolidated balance sheet of the Company contained in the Company’s Reports for the Company’s most recently completed quarterly or annual fiscal period, as applicable, and for liabilities incurred in the ordinary course of business consistent with past practice or in connection with this Agreement and the transactions contemplated hereby.
4.4.2Absence of Default.  Since the end of the Company’s last fiscal year, for which audited financial statements have been included in the Company’s Reports, no event has occurred which either of itself or with the lapse of time or the giving of notice or both, would give any creditor of the Company the right to accelerate the maturity of any material Indebtedness of the Company.  The Company is not in default under any Lease, agreement or instrument, or any law, rule, regulation, order, writ, injunction, decree, determination or award, except for such defaults that would not, singularly or in the aggregate, result in a Material Adverse Effect.
4.4.3Solvency.  After giving effect to the consummation of the transactions contemplated by this Agreement, the Company has capital sufficient to carry on its business and transactions and is solvent and able to pay its debts as they mature.  No transfer of property is being made and no Indebtedness is being incurred in connection with the transactions contemplated by this Agreement with the intent to hinder, delay or defraud either present or future creditors of the Company or any Subsidiary of the Company.
4.4.4Ownership of Property.  The Company and each of its Subsidiaries has good and marketable title as to all real property owned by it and good title to all assets and properties owned by the Company and such Subsidiary in the conduct of its businesses, whether such assets and properties are real or personal, tangible or intangible, including assets and property reflected in the most recent balance sheet contained in the Company’s Reports or acquired subsequent thereto (except to the extent that such assets and properties have been disposed of in the ordinary course of business, since the date of such balance sheet), subject to no encumbrances, liens, mortgages, security interests or pledges, except (i) those items which secure liabilities for public or statutory deposits, obligations or any discount with, borrowing from or other obligations to the Federal Home Loan Bank, the FRB, inter-bank credit facilities, reverse repurchase agreements or any transaction by the Bank acting in a fiduciary capacity, (ii) statutory liens for amounts not yet due or delinquent or which are being contested in good faith, and (iii) such as would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect.  The Company and each of its Subsidiaries, as lessee, has the right under valid and existing Leases of real and personal properties that are material to the Company or such Subsidiary, as applicable, in the conduct of its business to occupy or use all such properties as presently occupied and used by it.  
4.5No Material Adverse Effect.  Since the end of the Company’s last fiscal year, for which audited financial statements have been included in the Company’s Reports, there has been no development or event that has had or would, singularly or in the aggregate, result in a Material Adverse Effect.

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4.6Legal Matters.
4.6.1Compliance with Law.  The Company and each of its Subsidiaries (i) has complied with, and (ii) to the Company’s knowledge, is not under investigation with respect to, and, to the Company’s knowledge, has not been threatened to be charged with or given any written notice of any material violation of, any applicable statutes, rules, regulations, orders and restrictions of any domestic or foreign government, or any instrumentality or agency thereof, having jurisdiction over the conduct of its business or the ownership of its properties, except where any such failure to comply or violation would not reasonably be expected to, singularly or in the aggregate, result in a Material Adverse Effect.  The Company and each of its Subsidiaries is in compliance with, and at all times prior to the date hereof has been in compliance with, (x) all statutes, rules, regulations, orders and restrictions of any domestic or foreign government, or any Governmental Agency, applicable to it, and (y) its own privacy policies and written commitments to customers, consumers and employees, concerning data protection, the privacy and security of personal data, and the nonpublic personal information of its customers, consumers and employees, in each case except where any such failure to comply would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect.  At no time during the two years prior to the date hereof has the Company or any of its Subsidiaries received any written notice asserting any violations of any of the foregoing.
4.6.2Regulatory Enforcement Actions.  The Company, the Bank and its other Subsidiaries are in compliance in all material respects with all laws administered by and regulations of any Governmental Agency applicable to it or to them, except where the failure to comply would not reasonably be expected to, singularly or in the aggregate, result in a Material Adverse Effect.  None of the Company, the Bank, the Company’s or the Bank’s Subsidiaries nor any of their officers or directors is now operating under any restrictions, written agreements, memoranda, commitment letter, supervisory letter or similar regulatory correspondence, or other commitments (other than restrictions of general application) imposed by any Governmental Agency, nor are, to the Company’s knowledge (a) any such restrictions threatened, (b) any agreements, memoranda or commitments being sought by any Governmental Agency, or (c) any material legal or regulatory violations previously identified by, or material penalties or other remedial action previously imposed by, any Governmental Agency remaining unresolved.
4.6.3Pending Litigation.  There are no actions, suits, proceedings or written agreements pending, or, to the Company’s knowledge, threatened or proposed, against the Company or any of its Subsidiaries at law or in equity before or by any Governmental Agency, that would reasonably be expected to, singularly or in the aggregate, result in a Material Adverse Effect, or materially and adversely affect the issuance or payment of the Subordinated Notes.  Neither the Company nor any of its Subsidiaries is a party to or named as subject to the provisions of any order, writ, injunction, or decree of, or any written agreement with, any court, commission, board or agency, domestic or foreign, that would reasonably be expected to, singularly or in the aggregate, result in a Material Adverse Effect.
4.6.4Environmental.  Except as would not reasonably be expected to, singularly or in the aggregate, result in a Material Adverse Effect, no Property is or, to the Company’s knowledge, has been a site for the use, generation, manufacture, storage, treatment, release, threatened release, discharge, disposal, transportation or presence of any Hazardous 

13

Materials and neither the Company nor any of its Subsidiaries has engaged in such activities. There are no claims or actions pending or, to the Company’s knowledge, threatened against the Company or any of its Subsidiaries by any Governmental Agency or by any other Person relating to any Hazardous Materials or pursuant to any Hazardous Materials Law, except for such claims or actions that would not reasonably be expected to, singularly or in the aggregate, have a Material Adverse Effect.
4.6.5Brokerage Commissions.  Except for commissions paid or payable to the Placement Agent, neither the Company nor any Affiliate of the Company is obligated to pay any brokerage commission, Placement Agent or finder’s fee to any Person in connection with the transactions contemplated by this Agreement.
4.6.6Investment Company Act.  Neither the Company nor any of its Subsidiaries is an “investment company” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended.
4.7No Misstatement.  None of the representations or warranties made by the Company in this Agreement, the Investor Presentation or in any certificate delivered to the Purchasers by or on behalf of the Company pursuant to this Agreement contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained therein not misleading in light of the circumstances when made or furnished to the Purchasers, as of the date of this Agreement.
4.8Internal Accounting Controls.  The Company and the Bank have established and maintain a system of internal control over financial reporting that pertains to the maintenance of records that accurately and fairly reflect the transactions and dispositions of the Company’s assets (on a consolidated basis), provides reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that the Company’s and the Bank’s receipts and expenditures and receipts and expenditures of each of the Company’s other Subsidiaries are being made only in accordance with authorizations of the Company’s management and Board of Directors, and provides reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of assets of the Company on a consolidated basis that could result in a Material Adverse Effect.  Such internal control over financial reporting is effective to provide reasonable assurance regarding the reliability of the Company’s financial reporting and the preparation of the Company’s financial statements for external purposes in accordance with GAAP.  Since the conclusion of the Company’s last completed fiscal year, there has not been and there currently is not (i) any significant deficiency or material weakness in the design or operation of its internal control over financial reporting which is reasonably likely to adversely affect its ability to record, process, summarize and report financial information, or (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s or the Bank’s internal control over financial reporting.  The Company (A) has implemented and maintains disclosure controls and procedures reasonably designed and maintained to ensure that material information relating to the Company is made known to the Chief Executive Officer and the Chief Financial Officer of the Company by others within the Company and (B) has disclosed, based on its most recent evaluation prior to the date hereof, to the Company’s outside auditors and the audit committee of the Company’s Board of Directors any significant deficiencies and material weaknesses in the design 

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or operation of internal controls over financial reporting which are reasonably likely to adversely affect the Company’s internal controls over financial reporting and of which the Company has knowledge.  Such disclosure controls and procedures are effective for the purposes for which they were established.
4.9Tax Matters.  The Company, the Bank and each other Subsidiary of the Company have (i) filed all material foreign, U.S. federal, state and local tax returns, information returns and similar reports that are required to be filed by them prior to the date hereof, or requests for extensions to file such returns have been timely filed, and all such tax returns were true, correct and complete in all material respects, and (ii) paid all material taxes required to be paid by it and any other material assessment, fine or penalty levied against it other than taxes (x) currently payable without penalty or interest, or (y) being contested in good faith by appropriate proceedings.
4.10Representations and Warranties Generally.  The representations and warranties of the Company set forth in this Agreement that do not contain a “Material Adverse Effect” qualification or other express materiality, or similar qualification are true and correct in all material respects (i) as of the Closing Date and (ii) as otherwise specifically provided herein. The representations and warranties of the Company set forth in this Agreement that contain a “Material Adverse Effect” qualification, or any other express materiality or similar qualification are true and correct (a) as of the Closing Date and (b) as otherwise specifically provided herein.  
5.GENERAL COVENANTS, CONDITIONS AND AGREEMENTS.
The Company hereby further covenants and agrees with each Purchaser as follows:
5.1Compliance with Transaction Documents.  The Company shall comply with, observe and timely perform each and every one of the covenants, agreements and obligations of the Company under the Transaction Documents.
5.2Affiliate Transactions.  The Company shall not itself, nor shall it cause, permit or allow any of its Subsidiaries to enter into any transaction, including, the purchase, sale or exchange of property or the rendering of any service, with any Affiliate of the Company, except in the ordinary course of business and pursuant to the reasonable requirements of the Company’s or such Affiliate’s business and upon terms consistent with applicable laws and regulations and reasonably found by the appropriate board(s) of directors to be fair and reasonable and no less favorable to the Company or such Affiliate than would be obtained in a comparable arm’s length transaction with a Person not an Affiliate.
5.3Compliance with Laws.
5.3.1Generally.  The Company shall comply and cause the Bank and each of its other Subsidiaries to comply in all material respects with all applicable statutes, rules, regulations, orders and restrictions in respect of the conduct of its business and the ownership of 

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its properties, except, in each case, where such noncompliance would not reasonably be expected to, singularly or in the aggregate, result in a Material Adverse Effect.
5.3.2Regulated Activities.  The Company shall not itself, nor shall it cause, permit or allow the Bank or any other of its Subsidiaries to (i) engage in any business or activity not permitted by all applicable laws and regulations, except where such business or activity would not reasonably be expected to result in a Material Adverse Effect or (ii) make any loan or advance secured by the capital stock of another bank or depository institution, or acquire the capital stock, assets or obligations of or any interest in another bank or depository institution, in each case other than in accordance with applicable laws and regulations and safe and sound banking practices.
5.3.3Taxes.  The Company shall and shall cause the Bank and any other of its Subsidiaries to promptly pay and discharge all material taxes, assessments and other governmental charges imposed upon the Company, the Bank or any other of its Subsidiaries or upon the income, profits, or property of the Company or any Subsidiary and all claims for labor, material or supplies which, if unpaid, might by law become a lien or charge upon the property of the Company, the Bank or any other of its Subsidiaries.  Notwithstanding the foregoing, none of the Company, the Bank or any other of its Subsidiaries shall be required to pay any such tax, assessment, charge or claim, so long as the validity thereof shall be contested in good faith by appropriate proceedings, and appropriate reserves therefor shall be maintained on the books of the Company, the Bank or such other Subsidiary, as the case may be.
5.3.4Corporate Existence.  The Company shall do or cause to be done all things reasonably necessary to maintain, preserve and renew its corporate existence and that of the Bank and its and their rights and franchises, and comply in all material respects with all related laws applicable to the Company, the Bank or the other Subsidiaries; provided, however, that the Company may consummate the transactions described in Section 8(b) of the Subordinated Notes in accordance with the provisions of that section.
5.3.5Tier 2 Capital.  If all or any portion of the Subordinated Notes ceases to be eligible, or there is a material risk that all or any portion of the Subordinated Notes will cease to be eligible to qualify as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will promptly notify the Noteholders (as defined in the Subordinated Notes), and thereafter, if requested by the Company, the Company and the Noteholders (as defined in the Subordinated Notes) will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notes.
5.4Absence of Control.  It is the intent of the parties to this Agreement that in no event shall any Purchaser, by reason of any of the Transaction Documents, be deemed to control, directly or indirectly, the Company, and no Purchasers shall exercise, or be deemed to exercise, directly or indirectly, a controlling influence over the management or policies of the Company.

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5.5Secondary Market Transactions.  To the extent and so long as not in violation of Section 6.4 (Purchase for Investment), each Purchaser shall have the right at any time and from time to time to securitize its Subordinated Notes or any portion thereof in a single asset securitization or a pooled loan securitization of rated single or multi-class securities secured by or evidencing ownership interests in the Subordinated Notes (each such securitization is referred to herein as a “Secondary Market Transaction”).  In connection with any such Secondary Market Transaction, the Company shall, at the Company’s expense, cooperate with the Purchasers and otherwise reasonably assist the Purchasers in satisfying the market standards to which the Purchasers customarily adhere or which may be reasonably required in the marketplace or by applicable rating agencies in connection with any such Secondary Market Transaction, but in no event shall the Company be required to incur any material costs or expenses in connection therewith.  Subject to any written confidentiality obligation, including the terms of any non-disclosure agreement between the Purchasers and the Company, all information regarding the Company may be furnished to any Person reasonably deemed necessary by the Purchaser in connection with participation in such Secondary Market Transaction.  All documents, financial statements, appraisals and other data relevant to the Company or the Subordinated Notes may be retained by any such Person, subject to the terms of any nondisclosure agreement between the Purchaser and the Company.
5.6Bloomberg.  The Company shall use commercially reasonable efforts to cause within ninety (90) calendar days after the Closing the Subordinated Notes to be quoted on Bloomberg.
5.7Rule 144A Information.  While any Subordinated Notes remain “restricted securities” within the meaning of the Securities Act, the Company will make available, upon request, to any seller of such Subordinated Notes the information specified in Rule 144A(d)(4) under the Securities Act, unless the Company is then subject to Section 13 or 15(d) of the Exchange Act.
5.8Redemption.  Any redemption made pursuant to the terms of the Subordinated Note shall be made on a pro rata basis, and, for purposes of a redemption processed through DTC, in accordance with its rules and procedures, as a “Pro Rata Pass-Through Distribution of Principal.”
5.9DTC Registration.  Upon the request of a holder of a Subordinated Note that is a QIB, the Company shall use commercially reasonable efforts to cause the Subordinated Notes held by such QIB to be registered in the name of Cede & Co. as nominee of DTC or a nominee of DTC. 
6.REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PURCHASER.
The Purchaser hereby represents and warrants to the Company, and covenants with the Company as follows:
6.1Legal Power and Authority.  The Purchaser has all necessary power and authority to execute, deliver and perform the Purchaser’s obligations under this Agreement and to 

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consummate the transactions contemplated hereby.  The Purchaser is an entity duly organized, validly existing and in good standing under the laws of its jurisdiction of organization.
6.2Authorization and Execution.  The execution, delivery and performance of this Agreement has been duly authorized by all necessary action on the part of the Purchaser. This Agreement has been duly executed and delivered by the Purchaser. Assuming due authorization, execution and delivery by the Company, this Agreement is a legal, valid and binding obligation of the Purchaser, enforceable against the Purchaser in accordance with its terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights generally or by general equitable principles.
6.3No Conflicts.  Neither the execution, delivery or performance of the Transaction Documents nor the consummation of any of the transactions contemplated thereby will conflict with, violate, constitute a breach of or a default (whether with or without the giving of notice or lapse of time or both) under (i) the Purchaser’s organizational documents, (ii) any agreement to which the Purchaser is party, (iii) any law applicable to the Purchaser or (iv) any order, writ, judgment, injunction, decree, determination or award binding upon or affecting the Purchaser.
6.4Purchase for Investment.  The Purchaser is purchasing the Subordinated Note for its own account and not with a view to distribution and with no present intention of reselling, distributing or otherwise disposing of the same.  The Purchaser has no present or contemplated agreement, undertaking, arrangement, obligation, Indebtedness or commitment providing for, or which is likely to compel, a disposition of the Subordinated Notes in any manner.
6.5Institutional Accredited Investor.  The Purchaser is and will be on the Closing Date either (i) an institutional “accredited investor” as such term is defined in Rule 501(a) of Regulation D and as contemplated by subsections (1)-(3) and (7) of Rule 501(a) of Regulation D, and has no less than $5,000,000 in total assets, or (ii) a QIB.
6.6Financial and Business Sophistication.  The Purchaser has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of the prospective investment in the Subordinated Notes.  The Purchaser has relied solely upon its own knowledge of, and/or the advice of its own legal, financial, tax or other advisors with regard to, the legal, financial, tax and other considerations involved in deciding to invest in the Subordinated Notes.
6.7Ability to Bear Economic Risk of Investment.  The Purchaser recognizes that an investment in the Subordinated Notes is a speculative investment that involves substantial risk, including risks related to the Company’s business, operating results, financial condition and cash flows, which risks it has carefully considered in connection with making an investment in the Subordinated Notes.  It has the ability to bear the economic risk of the prospective investment in the Subordinated Notes, including the ability to hold the Subordinated Notes indefinitely, and further including the ability to bear a complete loss of all of its investment in the Company. 
6.8Information.  The Purchaser acknowledges that  (i) it is not being provided with the disclosures that would be required if the offer and sale of the Subordinated Notes were 

18

registered under the Securities Act, nor is it being provided with any offering circular, private placement memorandum or prospectus prepared in connection with the offer and sale of the Subordinated Notes; (ii) it has conducted its own examination of the Company and the terms of the Subordinated Notes to the extent it deems necessary to make its decision to invest in the Subordinated Notes; (iii) it has availed itself of publicly available financial and other information concerning the Company to the extent it deems necessary to make its decision to purchase the Subordinated Notes (including meeting with representatives of the Company); and (iv) it has not received nor relied on any form of general solicitation or general advertising (within the meaning of Regulation D) from the Company in connection with the offer and sale of the Subordinated Notes.  It has reviewed the information set forth in the Company’s Reports, the exhibits and schedules thereto and hereto and any information furnished or made available to the Purchaser in connection with the transactions contemplated by this Agreement. 
6.9Access to Information.  The Purchaser acknowledges that it and its advisors have been furnished with all materials relating to the business, finances and operations of the Company that have been reasonably requested by it or its advisors, and have been given the opportunity to request documents from and ask questions of, and to receive answers from, persons acting on behalf of the Company concerning terms and conditions of the transactions contemplated by this Agreement in order to make an informed and voluntary decision to enter into this Agreement.
6.10Investment Decision.  The Purchaser has made its own investment decision based upon its own judgment, due diligence and advice from such advisors as it has deemed necessary and not upon any view expressed by any other Person or entity, including the Placement Agent. Neither such inquiries nor any other due diligence investigations conducted by the Purchaser or its advisors or representatives, if any, shall modify, amend or affect its right to rely on the Company’s representations and warranties contained herein.  The Purchaser is not relying upon, and has not relied upon, any advice, statement, representation or warranty made by any Person by or on behalf of the Company, including, without limitation, the Placement Agent, except for the express statements, representations and warranties of the Company made or contained in this Agreement.  Furthermore, the Purchaser acknowledges that (i) the Placement Agent has not performed any due diligence review on behalf of it and (ii) nothing in this Agreement or any other materials presented by or on behalf of the Company to it in connection with the purchase of the Subordinated Notes constitutes legal, tax or investment advice.
6.11Private Placement; No Registration; Restricted Legends. It understands and acknowledges that the Subordinated Notes are characterized as “restricted securities” under the Securities Act and its implementing regulations and are being sold by the Company without registration under the Securities Act in reliance on one or more of the exemptions from federal and state registration set forth in, respectively, Section 4(a)(2) of the Securities Act, Rule 506(b) of Regulation D promulgated under Section 4(a)(2) of the Securities Act and Section 18 of the Securities Act, or any applicable state securities laws, and accordingly, may be resold, pledged or otherwise transferred only in compliance with the registration requirements of federal and state securities laws or if exemptions from the Securities Act and applicable state securities laws are available to it.  Further, while any Subordinated Notes remain in the restricted holding period pursuant to Rule 144 under the Securities Act, the Purchaser understands and acknowledges that any resale of such Subordinated Notes will be limited to a QIB under Rule 144A under the Securities Act. The Purchaser is not subscribing for the Subordinated Notes as a result of or 

19

subsequent to any general solicitation or general advertising, in each case within the meaning of Rule 502(c) of Regulation D, any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or meeting. The Purchaser has not been solicited with respect to investment in the Subordinated Notes except in the jurisdiction of its address appearing on the Purchaser’s signature page to this Agreement. The Purchaser further acknowledges and agrees that all certificates or other instruments representing the Subordinated Notes will bear the restrictive legend set forth in the form of Subordinated Note.  The Purchaser further acknowledges its primary responsibilities under the Securities Act and, accordingly, will not sell or otherwise transfer the Subordinated Notes or any interest therein without complying with the requirements of the Securities Act and the rules and regulations promulgated thereunder and the requirements set forth in this Agreement. Neither the Placement Agent nor the Company have or has made or are or is making any representation, warranty or covenant, express or implied, as to the availability of any exemption from registration under the Securities Act or any applicable state securities laws for the resale, pledge or other transfer of the Subordinated Notes, or that the Subordinated Notes purchased by the Purchaser will ever be able to be lawfully resold, pledged or otherwise transferred.
6.12Placement Agent.  The Purchaser will purchase the Subordinated Note(s) directly from the Company and not from the Placement Agent and understands that neither the Placement Agent nor any other broker or dealer has any obligation to make a market in the Subordinated Notes.
6.13Tier 2 Capital. If the Company provides notice as contemplated in Section 5.3.5 of the occurrence of the event contemplated in such section, thereafter the Company and the Purchasers will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Agreement shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event as described in the Subordinated Notes.
6.14Physical Settlement of Subordinated Notes. Notwithstanding anything in this Agreement to the contrary, if the Purchaser is an “accredited investor” (as such term is defined in Rule 501(a) of Regulation D), and is not also a QIB, the Purchaser acknowledges that its Subordinated Note shall be physically delivered to such Purchaser and registered in the name of such Purchaser, and the Purchaser agrees to such physical settlement of its Subordinated Note. 
6.15Not Debt of the Bank; Not Savings Accounts, Etc.  The Purchaser acknowledges that the Company is a bank holding company and the Company’s rights and the rights of the Company’s creditors, including, the Noteholders (as defined in the Subordinated Notes), to participate in the assets of any Subsidiary during its liquidation or reorganization are structurally subordinate to the prior claims of the Subsidiary’s creditors. The Purchaser acknowledges and agrees that the Subordinated Notes are not savings accounts or deposits of the Bank and are not insured or guaranteed by the FDIC or any Governmental Agency, and that no Governmental Agency has passed upon or will pass upon the offer or sale of the Subordinated Notes or has made or will make any finding or determination as to the fairness of this investment.

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6.16Accuracy of Representations.  The Purchaser understands that each of the Placement Agent and the Company are relying and will rely upon the truth and accuracy of the foregoing representations, acknowledgements and agreements in connection with the transactions contemplated by this Agreement, and agrees that if any of the representations or acknowledgements made by the Purchaser are no longer accurate as of the Closing Date, or if any of the agreements made by it are breached on or prior to the Closing Date, it shall promptly notify the Placement Agent and the Company.
6.17Representations and Warranties Generally; Reliance by the Company.  The representations and warranties of the Purchaser set forth in this Agreement are true and correct in all material respects as of the date hereof and will be true and correct in all material respects as of the Closing Date and as otherwise specifically provided herein.  Any certificate signed by a duly authorized representative of such Purchaser and delivered to the Company or to counsel for the Company shall be deemed to be a representation and warranty by the Purchaser to the Company as to the matters set forth therein.
7.MISCELLANEOUS.
7.1Prohibition on Assignment by the Company.  Except as described in Section 8(b) (Merger or Sale of Assets) of the Subordinated Notes, the Company may not assign, transfer or delegate any of its rights or obligations under this Agreement or the Subordinated Notes without the prior written consent of all the Noteholders (as defined in the Subordinated Note).  
7.2Time of the Essence.  Time is of the essence for this Agreement.
7.3Waiver or Amendment.  No waiver or amendment of any term, provision, condition, covenant or agreement herein shall be effective unless in writing and signed by the parties hereto. Failure on the part of the Purchasers to complain of any acts or failure to act or to declare an Event of Default, irrespective of how long such failure continues, shall not constitute a waiver by the Purchasers of their rights hereunder or impair any rights, powers or remedies on account of any breach or default by the Company.
7.4Severability.  Any provision of this Agreement which is unenforceable or invalid or contrary to law, or the inclusion of which would adversely affect the validity, legality or enforcement of this Agreement, shall be of no effect and, in such case, all the remaining terms and provisions of this Agreement shall subsist and be fully effective according to the tenor of this Agreement the same as though any such invalid portion had never been included herein.  Notwithstanding any of the foregoing to the contrary, if any provisions of this Agreement or the application thereof are held invalid or unenforceable only as to particular Persons or situations, the remainder of this Agreement, and the application of such provision to Persons or situations other than those to which it shall have been held invalid or unenforceable, shall not be affected thereby, but shall continue valid and enforceable to the fullest extent permitted by law.
7.5Notices.  Any notice which any party hereto may be required or may desire to give hereunder shall be deemed to have been given if in writing and if delivered personally, or if mailed, postage prepaid, by United States registered or certified mail, return receipt requested, or if 

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delivered by a responsible overnight commercial courier promising next Business Day delivery, addressed:
	if to the Company:
	First Western Financial, Inc.
1900 16th Street, Suite 1200
Denver, Colorado 80202
Attention: Julie Courkamp
Telephone: (303) 531-8132
Email: Julie.Courkamp@myfw.com
​

	with a copy to:
	Norton Rose Fulbright US LLP
2200 Ross Avenue, Suite 3600
Dallas, Texas 75201
Attention:  Michael G. Keeley
Telephone:  (214) 855-3906
Email:  mike.keeley@nortonrosefulbright.com
​

	if to the Purchaser:
	To the address indicated on the Purchaser’s signature page to this Agreement.

​
or to such other address or addresses as the party to be given notice may have furnished in writing to the party seeking or desiring to give notice, as a place for the giving of notice; provided that no change in address shall be effective until five (5) Business Days after being given to the other party in the manner provided for above.  Any notice given in accordance with the foregoing shall be deemed given when delivered personally or, if mailed, three (3) Business Days after it shall have been deposited in the United States mails as aforesaid or, if sent by overnight courier, the Business Day following the date of delivery to such courier (provided next Business Day delivery was requested).
7.6Successors and Assigns.  This Agreement shall inure to the benefit of the parties and their respective heirs, legal representatives, successors and assigns; except that (i) unless the Purchaser consents in writing, no assignment made by the Company in violation of this Agreement shall be effective or confer any rights under this Agreement on any purported assignee of the Company, and (ii) unless such assignment complies with the Assignment Form attached to the Subordinated Notes, no assignment made by the Purchaser shall be effective or confer any rights under this Agreement on any purported assignee of Purchaser.  The term “successors and assigns” will not include a purchaser of any of the Subordinated Notes from any Purchaser merely because of such purchase but shall include a purchaser of any of the Subordinated Notes pursuant to an assignment complying with the Assignment Form attached to the Subordinated Notes.
7.7No Joint Venture.  Nothing contained herein or in any document executed pursuant hereto and no action or inaction whatsoever on the part of the Purchaser, shall be deemed to make a Purchaser a partner or joint venturer with the Company.
7.8Documentation.  All documents and other matters required by any of the provisions of this Agreement to be submitted or furnished to the Purchaser shall be in form and substance reasonably satisfactory to the Purchaser.

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7.9Public Announcement. The Company and each Purchaser agree that no public release, statement, announcement, or other disclosure detailing the purchase of Subordinated Notes pursuant to this Agreement that refers to the other party or parties by name shall be issued by any party without the prior written consent of the other party so named (which consent shall not be unreasonably withheld, conditioned or delayed), except as otherwise required by law or the applicable rules or regulations of any securities exchange or securities market, in which case the Company shall allow the Purchasers reasonable time to comment on such release or announcement in advance of such issuance. 
7.10Entire Agreement.  The Transaction Documents, along with any exhibits hereto and thereto, constitute the entire agreement between the parties hereto with respect to the subject matter hereof and may not be modified or amended in any manner other than by supplemental written agreement executed by the parties hereto.  No party, in entering into this Agreement, has relied upon any representation, warranty, covenant, condition or other term that is not set forth in the Transaction Documents.
7.11Choice of Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York without giving effect to its laws or principles of conflict of laws (other than Section 5-1401 of the New York General Obligations Law).  Nothing herein shall be deemed to limit any rights, powers or privileges which the Purchaser may have pursuant to any law of the United States of America or any rule, regulation or order of any department or agency thereof and nothing herein shall be deemed to make unlawful any transaction or conduct by the Purchaser that is lawful pursuant to, or that is permitted by, any of the foregoing.
7.12No Third-Party Beneficiary.  This Agreement is made for the sole benefit of the Company and the Purchasers, and no other Person shall be deemed to have any privity of contract hereunder nor any right to rely hereon to any extent or for any purpose whatsoever, nor shall any other Person have any right of action of any kind hereon or be deemed to be a third party beneficiary hereunder; provided, that the Placement Agent may rely on the representations and warranties contained herein to the same extent as if it were a party to this Agreement.
7.13Legal Tender of United States.  All payments hereunder shall be made in coin or currency which at the time of payment is legal tender in the United States of America for public and private debts.
7.14Captions; Counterparts.  Captions contained in this Agreement in no way define, limit or extend the scope or intent of their respective provisions.  This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument. In the event that any signature is delivered by facsimile transmission, or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile signature page were an original thereof. Any use by a party of an electronic signature must be in accordance with the federal Electronic Signature in Global and National Commerce Act.

23

7.15Knowledge; Discretion.  All references herein to the Purchaser’s or the Company’s knowledge shall be deemed to mean the knowledge of such party based on the actual knowledge of such party’s Chief Executive Officer and Chief Financial Officer or such other persons holding equivalent offices.  Unless specified to the contrary herein, all references herein to an exercise of discretion or judgment by the Purchaser, to the making of a determination or designation by the Purchaser, to the application of the Purchaser’s discretion or opinion, to the granting or withholding of the Purchaser’s consent or approval, to the consideration of whether a matter or thing is satisfactory or acceptable to the Purchaser, or otherwise involving the decision making of the Purchaser, shall be deemed to mean that the Purchaser shall decide using the reasonable discretion or judgment of a prudent lender.
7.16Waiver of Right to Jury Trial.  TO THE EXTENT PERMITTED UNDER APPLICABLE LAW, THE PARTIES HERETO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT THAT THEY MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION ARISING IN ANY WAY IN CONNECTION WITH ANY OF THE TRANSACTION DOCUMENTS, OR ANY OTHER STATEMENTS OR ACTIONS OF THE COMPANY OR THE PURCHASERS.  THE PARTIES HERETO ACKNOWLEDGE THAT THEY HAVE BEEN REPRESENTED IN THE SIGNING OF THIS AGREEMENT AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL SELECTED OF THEIR OWN FREE WILL.  THE PARTIES HERETO FURTHER ACKNOWLEDGE THAT (I) THEY HAVE READ AND UNDERSTAND THE MEANING AND RAMIFICATIONS OF THIS WAIVER, (II) THIS WAIVER HAS BEEN REVIEWED BY THE PARTIES HERETO AND THEIR COUNSEL AND IS A MATERIAL INDUCEMENT FOR ENTRY INTO THIS AGREEMENT AND (III) THIS WAIVER SHALL BE EFFECTIVE AS TO EACH OF SUCH TRANSACTION DOCUMENTS AS IF FULLY INCORPORATED THEREIN.
7.17Expenses.  Except as otherwise provided in this Agreement, each of the parties will bear and pay all other costs and expenses incurred by it or on its behalf in connection with the transactions contemplated by this Agreement.
7.18Survival.  Each of the representations and warranties set forth in this Agreement shall survive the Closing for a period of one year after the date hereof. Except as otherwise provided herein, all covenants and agreements contained herein shall survive until, by their respective terms, they are no longer operative, other than those which by their terms are to be performed in whole or in part prior to or on the Closing Date, which shall terminate as of the Closing Date.
​
[Signature Pages Follow]
​
​

24

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IN WITNESS WHEREOF, the Company has caused this Subordinated Note Purchase Agreement to be executed by its duly authorized representative as of the date first above written.
	​
	COMPANY:
FIRST WESTERN FINANCIAL, InC. 
​
​
By:​ ​ 
Name:
Title: 

	​
	 ​

​
​

[Company Signature Page to Subordinated Note Purchase Agreement]
1094795882\3\AMERICAS

​

IN WITNESS WHEREOF, the Purchaser has caused this Subordinated Note Purchase Agreement to be executed by its duly authorized representative as of the date first above written.
	​
	 ​

	​
	PURCHASER:
[INSERT PURCHASER’S NAME]
​
By:​ ​

Name:

 [●]

Title:

[●] 

	​
	Address of Purchaser:
​
[●]
​

	​
	Principal Amount of Purchased Subordinated Note: 
​
$[●]
​
​

​
​

[Purchaser Signature Page to Subordinated Note Purchase Agreement]

​

EXHIBIT A
​
FORM OF SUBORDINATED NOTE
​
FIRST WESTERN FINANCIAL, INC.
7.00% FIXED-TO-FLOATING RATE Subordinated Note
due December 15, 2032
​
THE INDEBTEDNESS EVIDENCED BY THIS SUBORDINATED NOTE IS SUBORDINATED AND JUNIOR IN RIGHT OF PAYMENT TO SENIOR INDEBTEDNESS (AS DEFINED IN SECTION 3 (SUBORDINATION) OF THIS SUBORDINATED NOTE) OF FIRST WESTERN FINANCIAL, INC. (THE “COMPANY”), INCLUDING OBLIGATIONS OF THE COMPANY TO ITS GENERAL CREDITORS AND SECURED CREDITORS, AND IS UNSECURED.  IT IS INELIGIBLE AS COLLATERAL FOR ANY EXTENSION OF CREDIT BY THE COMPANY OR ANY OF ITS SUBSIDIARIES.  IN THE EVENT OF LIQUIDATION ALL HOLDERS OF SENIOR INDEBTEDNESS OF THE COMPANY SHALL BE ENTITLED TO BE PAID IN FULL WITH SUCH INTEREST AS MAY BE PROVIDED BY LAW BEFORE ANY PAYMENT SHALL BE MADE ON ACCOUNT OF PRINCIPAL OF OR INTEREST ON THIS SUBORDINATED NOTE.  AFTER PAYMENT IN FULL OF ALL SUMS OWING TO SUCH HOLDERS OF SENIOR INDEBTEDNESS, THE HOLDER OF THIS SUBORDINATED NOTE, TOGETHER WITH THE HOLDERS OF ANY OBLIGATIONS OF THE COMPANY RANKING ON A PARITY WITH THE SUBORDINATED NOTES, SHALL BE ENTITLED TO BE PAID FROM THE REMAINING ASSETS OF THE COMPANY THE UNPAID PRINCIPAL AMOUNT OF THIS SUBORDINATED NOTE PLUS ACCRUED AND UNPAID INTEREST THEREON BEFORE ANY PAYMENT OR OTHER DISTRIBUTION, WHETHER IN CASH, PROPERTY OR OTHERWISE, SHALL BE MADE (i) with respect to any obligation that by its terms expressly is junior in the right of payment to the Subordinated Notes, (II) WITH RESPECT TO ANY INDEBTEDNESS BETWEEN THE COMPANY AND ANY OF ITS SUBSIDIARIES OR AFFILIATES, or (Iii) on account OF ANY SHARES OF CAPITAL STOCK OF THE COMPANY.
[THIS SUBORDINATED NOTE IS A GLOBAL SUBORDINATED NOTE WITHIN THE MEANING OF SECTION 9 OF THIS SUBORDINATED NOTE AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), OR A NOMINEE OF DTC. THIS SUBORDINATED NOTE IS EXCHANGEABLE FOR SUBORDINATED NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN DTC OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN SECTION 9 OF THIS SUBORDINATED NOTE, AND NO TRANSFER OF THIS SUBORDINATED NOTE (OTHER THAN A TRANSFER OF THIS SUBORDINATED NOTE AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER NOMINEE OF DTC) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES SPECIFIED IN THIS SUBORDINATED NOTE.
UNLESS THIS SUBORDINATED NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS 

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REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.
ANY PURCHASER OF THIS SUBORDINATED NOTE IS HEREBY NOTIFIED THAT THE SELLER IS RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), PROVIDED BY RULE 144A THEREUNDER (“RULE 144A”) OR ANOTHER EXEMPTION UNDER THE SECURITIES ACT. THE HOLDER OF THIS SUBORDINATED NOTE HEREBY AGREES FOR THE BENEFIT OF THE COMPANY THAT (A) SUCH SUBORDINATED NOTE MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (I) (A) TO A PERSON WHO IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (B) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT, OR (D) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE COMPANY SO REQUESTS), (II) TO THE COMPANY, OR (III) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE SUBORDINATED NOTE EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144A FOR RESALE OF THE SUBORDINATED NOTE EVIDENCED HEREBY.]
THE INDEBTEDNESS EVIDENCED BY THIS SUBORDINATED NOTE IS NOT A DEPOSIT AND IS NOT INSURED BY ANY FEDERAL AGENCY OR INSTRUMENTALITY, INCLUDING, WITHOUT LIMITATION, THE FEDERAL DEPOSIT INSURANCE CORPORATION. 
THIS SUBORDINATED NOTE WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN MINIMUM DENOMINATIONS OF $250,000 AND MULTIPLES OF $1,000 IN EXCESS THEREOF. ANY ATTEMPTED TRANSFER OF THIS SUBORDINATED NOTE IN A DENOMINATION OF LESS THAN $250,000 SHALL BE DEEMED TO BE VOID AND OF NO LEGAL EFFECT WHATSOEVER. ANY SUCH PURPORTED TRANSFEREE SHALL BE DEEMED NOT TO BE THE HOLDER OF THIS SUBORDINATED NOTE FOR ANY PURPOSE, INCLUDING, BUT NOT LIMITED TO, THE RECEIPT OF PAYMENTS ON THIS SUBORDINATED NOTE, AND SUCH PURPORTED TRANSFEREE SHALL BE DEEMED TO HAVE NO INTEREST WHATSOEVER IN THIS SUBORDINATED NOTE.

A-2

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THIS SUBORDINATED NOTE MAY BE SOLD ONLY IN COMPLIANCE WITH APPLICABLE FEDERAL AND STATE SECURITIES LAWS. THIS SUBORDINATED NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT [OF 1933, AS AMENDED (THE “SECURITIES ACT”)], OR ANY APPLICABLE STATE SECURITIES LAWS OR ANY OTHER APPLICABLE SECURITIES LAWS. NEITHER THIS SUBORDINATED NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. 
​
CERTAIN ERISA CONSIDERATIONS:
THE HOLDER OF THIS SUBORDINATED NOTE, OR ANY INTEREST HEREIN, BY ITS ACCEPTANCE HEREOF OR THEREOF AGREES, REPRESENTS AND WARRANTS THAT IT IS NOT AN EMPLOYEE BENEFIT PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER PLAN OR ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN AS DEFINED IN SECTION 3(32) OF ERISA, A NON-U.S. PLAN OR A CHURCH PLAN AS DEFINED IN SECTION 3(33) OF ERISA NOT SUBJECT TO THE REQUIREMENTS OF ERISA OR SECTION 4975 OF THE CODE BUT MAY BE SUBJECT TO OTHER SIMILAR LEGAL RESTRICTIONS (“SIMILAR LAWS”) (EACH, A “PLAN”) OR AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY PLAN’S INVESTMENT IN THE ENTITY, AND NO PERSON INVESTING “PLAN ASSETS” OF ANY PLAN MAY ACQUIRE OR HOLD THIS SUBORDINATED NOTE OR ANY INTEREST HEREIN, UNLESS SUCH PURCHASER OR HOLDER IS ELIGIBLE FOR THE EXEMPTIVE RELIEF AVAILABLE UNDER U.S. DEPARTMENT OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 96-23, 95-60, 91-38, 90-1 OR 84-14 OR ANOTHER APPLICABLE EXEMPTION OR ITS PURCHASE AND HOLDING OF THIS SUBORDINATED NOTE, OR ANY INTEREST HEREIN, ARE NOT PROHIBITED BY SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE OR SIMILAR LAWS. ANY PURCHASER OR HOLDER OF THIS SUBORDINATED NOTE OR ANY INTEREST HEREIN WILL BE DEEMED TO HAVE REPRESENTED BY ITS PURCHASE AND HOLDING THEREOF THAT EITHER: (I) IT IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER PLAN TO WHICH TITLE I OF ERISA OR SECTION 4975 OF THE CODE IS APPLICABLE, A GOVERNMENTAL PLAN AS DEFINED IN SECTION 3(32) OF ERISA, A NON-U.S. PLAN OR A CHURCH PLAN AS DEFINED IN SECTION 3(33) OF ERISA NOT SUBJECT TO THE REQUIREMENTS OF ERISA OR SECTION 4975 OF THE CODE, A TRUSTEE OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH EMPLOYEE BENEFIT PLAN OR OTHER PLAN, OR ANY OTHER PERSON OR ENTITY USING THE “PLAN ASSETS” OF ANY SUCH PLAN OR OTHER PLAN TO FINANCE SUCH PURCHASE OR (II) SUCH PURCHASE OR HOLDING WILL NOT RESULT IN A PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE FOR OR A VIOLATION OF SIMILAR LAWS.

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ANY FIDUCIARY OF ANY PLAN WHO IS CONSIDERING THE ACQUISITION OF THIS SUBORDINATED NOTE OR ANY INTEREST HEREIN SHOULD CONSULT WITH HIS OR HER LEGAL COUNSEL PRIOR TO ACQUIRING THIS SUBORDINATED NOTE OR ANY INTEREST HEREIN.
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No. [●]‌
‌​
FIRST WESTERN FINANCIAL, INC.
7.00% FIXED-TO-FLOATING RATE Subordinated Note
due DECEMBER 15, 2032
1.Subordinated Notes.  This Subordinated Note is one of an issue of notes of First Western Financial, Inc., a Colorado corporation (the “Company”) designated as the “7.00% Fixed-to-Floating Rate Subordinated Notes due December 15, 2032” (the “Subordinated Notes”) issued pursuant to that Subordinated Note Purchase Agreement, dated as of the date upon which this Subordinated Note was originally issued (the “Issue Date”), by and between the Company and the several purchasers of the Subordinated Notes identified in the signature pages thereto (the “Purchase Agreement”).
2.Payment.  The Company, for value received, promises to pay to [Cede & Co.], or its registered assigns, the principal sum of [AMOUNT] Dollars (U.S.) ($[●]), plus accrued but unpaid interest on December 15, 2032 (the “Maturity Date”) and to pay interest thereon (i) from and including the Issue Date to but excluding December 15, 2027 or the earlier redemption date contemplated by Section 4 (Redemption) of this Subordinated Note, at the rate of 7.00% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months and payable semi-annually in arrears on June 15 and December 15 of each year (each payment date, a “Fixed Interest Payment Date”), beginning on June 15, 2023, and (ii) from and including December 15, 2027 to but excluding the Maturity Date or earlier redemption date contemplated by Section 4 (Redemption) of this Subordinated Note (the “Floating Rate Period”), at the rate per annum, reset quarterly, equal to the Floating Interest Rate (as defined below) determined on the Floating Interest Determination Date (as defined below) of the applicable interest period plus 328 basis points, computed on the basis of a 360-day year and the actual number of days elapsed and payable quarterly in arrears  on March 15, June 15, September 15, and December 15 of each year (each payment date, a “Floating Interest Payment Date”), beginning on March 15, 2028. Dollar amounts resulting from this calculation shall be rounded to the nearest cent, with one-half cent being rounded up. The term “Floating Interest Determination Date” means the date upon which the Floating Interest Rate is determined by the Calculation Agent (as defined herein) pursuant to the Three-Month Term SOFR Conventions (as defined herein).  Any payment of principal of or interest on this Subordinated Note that would otherwise become due and payable on a day which is not a Business Day shall become due and payable on the next succeeding Business Day, with the same force and effect as if made on the date for payment of such principal or interest, and no interest will accrue in respect of such payment for the period after such day; provided, that in the event that any scheduled Floating Interest Payment Date falls on a day that is not a Business Day and the next succeeding Business Day falls in the next succeeding calendar month, such Floating Interest Payment Date will be accelerated to the immediately preceding Business Day, and, in each such case, the amounts payable on such Business Day will include interest accrued to, but excluding, such Business Day.  Dollar amounts resulting from interest calculations will be rounded to the nearest cent, with one half cent being rounded upward. Notwithstanding anything to the contrary provided in this Subordinated Note or the Purchase Agreement, (i) in the event the Three-Month Term SOFR (as defined herein) is less than zero, the Three-Month Term SOFR shall be 

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deemed to be zero, and (ii) if a Benchmark Transition Event (as defined herein) and its related Benchmark Replacement Date (as defined herein) have occurred and the Benchmark Replacement (as defined herein) is less than zero, then the Benchmark Replacement shall be deemed to be zero.
(a)The Company shall take such actions as are necessary to ensure that from the commencement of the Floating Rate Period for so long as any of the Subordinated Notes remain outstanding there will at all times be a Calculation Agent appointed to calculate Three-Month Term SOFR in respect of each Floating Rate Period. The calculation of Three-Month Term SOFR for each applicable Floating Rate Period by the Calculation Agent (as defined below) will (in the absence of manifest error) be final and binding. The Calculation Agent’s determination of any interest rate and its calculation of interest payments for any period will be maintained on file at the Calculation Agent’s principal offices, and will be made available to any Noteholder (as defined herein) upon request. The Calculation Agent may be removed by the Company at any time. If the Calculation Agent is unable or unwilling to act as Calculation Agent or is removed by the Company, the Company will promptly appoint a replacement Calculation Agent. The Calculation Agent may not resign its duties without a successor having been duly appointed; provided, that if a successor Calculation Agent has not been appointed by the Company and such successor accepted such position within thirty (30) calendar days after the giving of notice of resignation by the Calculation Agent, then the resigning Calculation Agent may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Calculation Agent with respect to such series. For the avoidance of doubt, if at any time there is no Calculation Agent appointed by the Company, then the Company shall be the Calculation Agent. 
(b)An “Interest Payment Date” is either a Fixed Interest Payment Date or a Floating Interest Payment Date, as applicable.  
(c)A “Floating Interest Period” means the period from, and including, each Floating Interest Payment Date to, but excluding, the next succeeding Floating Interest Payment Date, except for the initial Floating Interest Period, which will be the period from, and including, December 15, 2027 to, but excluding, the next succeeding Floating Interest Payment Date.
(d)The “Floating Interest Rate” means: 
(i)initially Three-Month Term SOFR (as defined below).
(ii)Notwithstanding the foregoing clause (i) of this Section 2(d):
(1)If the Calculation Agent determines prior to the relevant Floating Interest Determination Date that a Benchmark Transition Event and its related Benchmark Replacement Date (each of such terms as defined below) have occurred with respect to Three-Month Term SOFR, then the Company shall promptly provide notice of such determination to the Noteholders and Section 2(e) (Effect of Benchmark Transition Event) will thereafter apply to all determinations, calculations and quotations made or obtained for the purposes of calculating the Floating Interest Rate payable on the Subordinated Notes during a relevant Floating Interest Period.
(2)However, if the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to 

A-6

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Three-Month Term SOFR, but for any reason the Benchmark Replacement has not been determined as of the relevant Floating Interest Determination Date, the Floating Interest Rate for the applicable Floating Interest Period will be equal to the Floating Interest Rate on the last Floating Interest Determination Date for the Subordinated Notes, as determined by the Calculation Agent.
(e)Effect of Benchmark Transition Event.  
(i)If the Calculation Agent determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time (as defined below) in respect of any determination of the Benchmark (as defined below) on any date, the Benchmark Replacement will replace the then-current Benchmark for all purposes relating to the Subordinated Notes during the relevant Floating Interest Period in respect of such determination on such date and all determinations on all subsequent dates.
(ii)In connection with the implementation of a Benchmark Replacement, the Calculation Agent will have the right to make Benchmark Replacement Conforming Changes from time to time, and such changes shall become effective without consent from the relevant Noteholders (as defined below) or any other party.
(iii)The Calculation Agent is expressly authorized to make certain determinations, decisions and elections under the Subordinated Notes, including with respect to the use of Three-Month Term SOFR as the Benchmark under this Section 2(e).  Any determination, decision or election that may be made by the Calculation Agent under the terms of the Subordinated Notes, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date, and any decision to take or refrain from taking any action or any selection:
(1)will be conclusive and binding absent manifest error;
(2)if made by the Company as the Calculation Agent, will be made in the Company’s sole discretion; 
(3)if made by the Calculation Agent (other than the Company), will be made after consultation with the Company, and the Calculation Agent will not make any such determination, decision or election to which the Company reasonably objects; and
(4)notwithstanding anything to the contrary in this Subordinated Note or the Purchase Agreement, shall become effective without consent from the relevant Noteholders (as defined below) or any other party.
(iv)If the Calculation Agent fails to make any determination, decision or election that it is required to make under the terms of the Subordinated Notes, then the Company will make such determination, decision or election on the same basis as described above.
(v)For the avoidance of doubt, after a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, interest payable on this Subordinated Note 

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for the Floating Rate Period will be an annual rate equal to the sum of the applicable Benchmark Replacement plus 328 basis points.
(vi)If the then-current Benchmark is Three-Month Term SOFR, the Calculation Agent will have the right to establish the Three-Month Term SOFR Conventions, and if any of the foregoing provisions concerning the calculation of the interest rate and the payment of interest during the Floating Rate Period are inconsistent with any of the Three-Month Term SOFR Conventions determined by the Calculation Agent, then the relevant Three-Month Term SOFR Conventions will apply.
(vii)As used in this Subordinated Note:
(1)“Affiliate(s)” means, with respect to any Person, such Person’s immediate family members, partners, members or parent and Subsidiaries, and any other Person directly or indirectly controlling, controlled by, or under common control with said Person and their respective Affiliates.
(2)“Benchmark” means, initially, Three-Month Term SOFR; provided that if the Calculation Agent determines on or prior to the Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement.
(3)“Benchmark Replacement” means the Interpolated Benchmark with respect to the then-current Benchmark, plus the Benchmark Replacement Adjustment for such Benchmark; provided that if (a) the Calculation Agent cannot determine the Interpolated Benchmark as of the Benchmark Replacement Date or (b) the then-current Benchmark is Three-Month Term SOFR and a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR (in which event no Interpolated Benchmark with respect to Three-Month Term SOFR shall be determined), then “Benchmark Replacement” means the first alternative set forth in the order below that can be determined by the Calculation Agent as of the Benchmark Replacement Date:
a.Compounded SOFR; 
b.the sum of: (i) the alternate rate of interest that has been selected or recommended by the Relevant Governmental Body as the replacement for the then-current Benchmark for the applicable Corresponding Tenor and (ii) the Benchmark Replacement Adjustment;
c.the sum of: (i) the ISDA Fallback Rate and (ii) the Benchmark Replacement Adjustment;
d.the sum of: (i) the alternate rate of interest that has been selected by the Calculation Agent as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to any industry-accepted rate of interest as a replacement for the then-current Benchmark for U.S. dollar denominated floating rate notes at such time and (ii) the Benchmark Replacement Adjustment.

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(4)“Benchmark Replacement Adjustment” means the first alternative set forth in the order below that can be determined by the Calculation Agent as of the Benchmark Replacement Date:
a.the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected or recommended by the Relevant Governmental Body for the applicable Unadjusted Benchmark Replacement;
b.if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA Fallback Rate, then the ISDA Fallback Adjustment; or
c.the spread adjustment (which may be a positive or negative value or zero) that has been selected by the Calculation Agent giving due consideration to any industry-accepted spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark Replacement for U.S. dollar denominated floating rate notes at such time.
(5)“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of  “Floating Interest Period,” timing and frequency of determining rates with respect to each Floating Interest Period and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Calculation Agent decides may be appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially consistent with market practice (or, if the Calculation Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Calculation Agent determines that no market practice for use of the Benchmark Replacement exists, in such other manner as the Calculation Agent determines is reasonably necessary).
(6)“Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark:
a.in the case of clause (a) of the definition of “Benchmark Transition Event,” the relevant Reference Time in respect of any determination; or 
b.in the case of clause (b) or (c) of the definition of “Benchmark Transition Event,” the later of (i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide the Benchmark; or
c.in the case of clause (d) of the definition of “Benchmark Transition Event,” the date of such public statement or publication of information referenced therein. 
For the avoidance of doubt, for purposes of the definitions of Benchmark Replacement Date and Benchmark Transition Event, references to the Benchmark also include any reference rate underlying the Benchmark (for example, if the Benchmark becomes Compounded SOFR, references to the Benchmark would include SOFR).

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For the avoidance of doubt, if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for purposes of such determination.
(7)“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the then-current Benchmark:
a.if the Benchmark is Three-Month Term SOFR, (i) the Relevant Governmental Body has not selected or recommended a forward-looking term rate for a tenor of three months based on SOFR, (ii) the development of a forward-looking term rate for a tenor of three months based on SOFR that has been recommended or selected by the Relevant Governmental Body is not complete or (iii) the Company determines that use of a forward-looking rate for a tenor of three months based on SOFR is not administratively feasible;
b.a public statement or publication of information by or on behalf of the administrator of the Benchmark announcing that such administrator has ceased or will cease to provide the Benchmark, permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark;
c.a public statement or publication of information by the regulatory supervisor for the administrator of the Benchmark, the central bank for the currency of the Benchmark, an insolvency official with jurisdiction over the administrator for the Benchmark, a resolution authority with jurisdiction over the administrator for the Benchmark or a court or an entity with similar insolvency or resolution authority over the administrator for the Benchmark, which states that the administrator of the Benchmark has ceased or will cease to provide the Benchmark permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark; or
d.a public statement or publication of information by the regulatory supervisor for the administrator of the Benchmark announcing that the Benchmark is no longer representative.
(8) “Business Day” means any day that is not a Saturday or Sunday and that is not a day on which banks in the State of Colorado are generally authorized or required by law or executive order to be closed.  
(9)“Calculation Agent” means the agent (which may be the Company or an Affiliate of the Company) appointed by the Company, in its sole discretion, to act as Calculation Agent for the Subordinated Notes prior to the commencement of the Floating Interest Period to act in accordance with Section 2 (Payment).
(10)“Compounded SOFR” means the compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for this rate, and conventions for this rate being established by the Calculation Agent in accordance with:

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a.the rate, or methodology for this rate and conventions for this rate selected or recommended by the Relevant Governmental Body for determining Compounded SOFR; provided that:
b.if, and to the extent that, the Calculation Agent determines that Compounded SOFR cannot be determined in accordance with clause (a) above, then the rate, or methodology for this rate, and conventions for this rate that have been selected by the Calculation Agent giving due consideration to any industry-accepted market practice for U.S. dollar denominated floating rate notes at such time.
For the avoidance of doubt, the calculation of Compounded SOFR will exclude the Benchmark Replacement Adjustment and the spread of 328 basis points.
(11)“control” (including the terms “controlling,” “controlled by” and “under common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.
(12)“Corresponding Tenor” with respect to a Benchmark Replacement means a tenor (including overnight) having approximately the same length (disregarding Business Day adjustment) as the applicable tenor for the then-current Benchmark.
(13)“FRBNY” means the Federal Reserve Bank of New York.
(14)“FRBNY’s Website” means the website of the FRBNY at http://www.newyorkfed.org, or any successor source.
(15)“Interpolated Benchmark” with respect to the Benchmark means the rate determined for the Corresponding Tenor by interpolating on a linear basis between: (1) the Benchmark for the longest period (for which the Benchmark is available) that is shorter than the Corresponding Tenor and (2) the Benchmark for the shortest period (for which the Benchmark is available) that is longer than the Corresponding Tenor.
(16)“ISDA” means the International Swaps and Derivatives Association, Inc. or any successor thereto.
(17)“ISDA Definitions” means the 2006 ISDA Definitions published by the ISDA or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time.
(18)“ISDA Fallback Adjustment” means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable tenor.
(19)“ISDA Fallback Rate” means the rate that would apply for derivatives transactions referencing the ISDA Definitions to be effective upon the occurrence of 

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an index cessation date with respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment.
(20)“Noteholders” means the registered holders of the Subordinated Notes from time to time (and each, a “Noteholder”).
(21)“Person” means an individual, a corporation (whether or not for profit), a partnership, a limited liability company, a joint venture, an association, a trust, an unincorporated organization, a government or any department or agency thereof (including a Governmental Agency (as such term is defined in the Purchase Agreement)) or any other entity or organization.
(22)“Reference Time” with respect to any determination of the Benchmark means (a) if the Benchmark is Three-Month Term SOFR, the time determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions, and (b) if the Benchmark is not Three-Month Term SOFR, the time determined by the Calculation Agent after giving effect to the Benchmark Replacement Conforming Changes.
(23)“Relevant Governmental Body” means the Board of Governors of the Federal Reserve System (the “Federal Reserve”) and/or the FRBNY, or a committee officially endorsed or convened by the Federal Reserve and/or the FRBNY or any successor thereto.
(24)“SOFR” means the daily secured overnight financing rate published by the FRBNY, as the administrator of the benchmark (or a successor administrator), on the FRBNY’s Website (or such successor’s website).
(25)“Subsidiary” means with respect to any Person, any other Person in which a majority of the outstanding voting shares of Equity Interest (as such term is defined in the Purchase Agreement) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees or equivalent Person or body thereof, is directly or indirectly owned by such Person.
(26)“Term SOFR” means the forward-looking term rate for the applicable Corresponding Tenor based on SOFR that has been selected or recommended by the Relevant Governmental Body.
(27)“Term SOFR Administrator” means any entity designated by the Relevant Governmental Body as the administrator of Term SOFR (or successor administrator).
(28)“Three-Month Term SOFR” means the rate for Term SOFR for a tenor of three months that is published by the Term SOFR Administrator at the Reference Time for any Floating Interest Period, as determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions. All percentages used in or resulting from any calculation of Three-Month Term SOFR shall be rounded, if necessary, to the nearest one-hundred-thousandth of a percentage point, with 0.000005% rounded up to 0.00001%.
(29)“Three-Month Term SOFR Conventions” means any determination, decision or election with respect to any technical, administrative or operational matter (including 

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with respect to the manner and timing of the publication of Three-Month Term SOFR, or changes to the definition of “Floating Interest Period”, timing and frequency of determining Three-Month Term SOFR with respect to each Floating Interest Period and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Calculation Agent decides may be appropriate to reflect the use of Three-Month Term SOFR as the Benchmark in a manner substantially consistent with market practice (or, if the Calculation Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Calculation Agent determines that no market practice for the use of Three-Month Term SOFR exists, in such other manner as the Calculation Agent determines is reasonably necessary).
(30)“Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the Benchmark Replacement Adjustment.
3.Subordination.  
(a)The indebtedness of the Company evidenced by this Subordinated Note, including the principal and interest on this Subordinated Note, shall be subordinate and junior in right of payment to the prior payment in full of all existing claims of creditors of the Company whether now outstanding or subsequently created, assumed, guaranteed or incurred (collectively, “Senior Indebtedness”), which shall consist of principal of (and premium, if any) and interest, if any, on: (i) all indebtedness and obligations of, or guaranteed or assumed by, the Company for money borrowed, whether or not evidenced by bonds, debentures, securities, notes or other similar instruments, and including, but not limited to, all obligations to the Company’s general creditors and secured creditors; (ii) any deferred obligations of the Company for the payment of the purchase price of property or assets acquired other than in the ordinary course of business; (iii) all obligations, contingent or otherwise, of the Company in respect of any letters of credit, bankers’ acceptances, security purchase facilities and similar direct credit substitutes; (iv) any capital lease obligations of the Company; (v) all obligations of the Company in respect of interest rate swap, cap or other agreements, interest rate future or option contracts, currency swap agreements, currency future or option contracts, commodity contracts and other similar arrangements or derivative products; (vi) any obligation of the Company to its general creditors, as defined for purposes of the capital adequacy regulations of the Federal Reserve applicable to the Company, as the same may be amended or modified from time to time; (vii) all obligations that are similar to those in clauses (i) through (v) of other Persons for the payment of which the Company is responsible or liable as obligor, guarantor or otherwise arising from an off-balance sheet guarantee; (viii) all obligations of the types referred to in clauses (i) through (vii) of other Persons secured by a lien on any property or asset of the Company, and (ix) in the case of (i) through (viii) above, all amendments, renewals, extensions, modifications and refunds of such indebtedness and obligations; except “Senior Indebtedness” does not include (A) the Company’s existing 5.125% Fixed-to-Floating Subordinated Notes Due 2030, 4.25% Fixed-to-Floating Subordinated Notes due 2030, or 3.25% Fixed-to-Floating Subordinated Notes due 2031, which shall each rank equal in right of payment with the Subordinated Notes; (B) any obligation that by its terms expressly is junior to, or ranks equally in right of payment with, the Subordinated Notes; or (C) any indebtedness between the Company and any of its Subsidiaries or Affiliates.  This Subordinated Note is not secured by any assets of the Company or any Subsidiary or Affiliate of the Company.

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(b)In the event of any liquidation of the Company, holders of Senior Indebtedness of the Company shall be entitled to be paid in full with such interest as may be provided by law before any payment shall be made on account of principal of or interest on this Subordinated Note.  Additionally, in the event of any insolvency, dissolution, assignment for the benefit of creditors or any liquidation or winding up of or relating to the Company, whether voluntary or involuntary, holders of Senior Indebtedness shall be entitled to be paid in full before any payment shall be made on account of the principal of or interest on the Subordinated Notes, including this Subordinated Note.  In the event of any such proceeding, after payment in full of all sums owing with respect to the Senior Indebtedness, the Noteholders, together with the holders of any obligations of the Company ranking on a parity with the Subordinated Notes, shall be entitled to be paid from the remaining assets of the Company the unpaid principal thereof, and the unpaid interest thereon before any payment or other distribution, whether in cash, property or otherwise, shall be made (i) with respect to any obligation that by its terms expressly is junior to in the right of payment to the Subordinated Notes, (ii) with respect to any indebtedness between the Company and any of its Subsidiaries or Affiliates, or (iii) on account of any capital stock.
(c)If there shall have occurred and be continuing (i) a default in any payment with respect to any Senior Indebtedness or (ii) an event of default with respect to any Senior Indebtedness as a result of which the maturity thereof is accelerated, unless and until such payment default or event of default shall have been cured or waived or shall have ceased to exist, no payments shall be made by the Company with respect to the Subordinated Notes, notwithstanding the provisions of Section 18 (Absolute and Unconditional Obligation of the Company) hereof.  The provisions of this paragraph shall not apply to any payment with respect to which Section 3(b) above would be applicable.
(d)Nothing herein shall act to prohibit, limit or impede the Company from issuing additional debt of the Company having the same rank as the Subordinated Notes or which may be junior or senior in rank to the Subordinated Notes.  Each Noteholder, by its acceptance hereof, agrees to and shall be bound by the provisions of this Section 3.  Each Noteholder, by its acceptance hereof, further acknowledges and agrees that the foregoing subordination provisions are, and are intended to be, an inducement and a consideration for each holder of any Senior Indebtedness, whether such Senior Indebtedness was created or acquired before or after the issuance of the Subordinated Notes, to acquire and continue to hold, or to continue to hold, such Senior Indebtedness, and such holder of Senior Indebtedness shall be deemed conclusively to have relied on such subordination provisions in acquiring and continuing to hold or in continuing to hold such Senior Indebtedness.
4.Redemption. 
(a)Redemption Prior to Fifth Anniversary.  This Subordinated Note shall not be redeemable by the Company in whole or in part prior to the fifth anniversary of the Issue Date, except in the event of: (i) a Tier 2 Capital Event (as defined herein); (ii) a Tax Event (as defined herein); or (iii) an Investment Company Event (as defined herein).  Upon the occurrence of a Tier 2 Capital Event, a Tax Event or an Investment Company Event, the Company may redeem this Subordinated Note, subject to Section 4(f)(Regulatory Approvals) hereof, in whole, but not in part, at any time, upon giving not less than ten (10) calendar days’ notice to the Noteholders at an amount equal to 100% of the outstanding principal amount being redeemed plus accrued and 

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unpaid interest, to but excluding the redemption date.  “Tier 2 Capital Event” means the receipt by the Company of an opinion of independent counsel to the Company to the effect that there is a material risk that the Subordinated Note no longer qualifies to be eligible for treatment as “Tier 2” Capital (as defined by the Federal Reserve) (or its then equivalent) as a result of a change in law or regulation, or interpretation or application of law or regulation by any judicial, legislative or regulatory authority that becomes effective after the Issue Date.  “Tax Event” means the receipt by the Company of an opinion of independent counsel to the Company that as a result of any amendment to, or change (including any final and adopted (or enacted) prospective change) in, the laws (or any regulations thereunder) of the United States or any political subdivision or taxing authority thereof or therein, or as a result of any official administrative pronouncement or judicial decision interpreting or applying such laws or regulations, there is a material risk that interest payable by the Company on the Subordinated Notes is not, or within one hundred twenty (120) calendar days after the receipt of such opinion will not be, deductible by the Company, in whole or in part, for United States federal income tax purposes.  “Investment Company Event” means the receipt by the Company of an opinion of independent counsel to the Company to the effect that there is a material risk that the Company is or, within one hundred twenty (120) calendar days after the receipt of such opinion will be, required to register as an investment company pursuant to the Investment Company Act of 1940, as amended.
(b)Redemption on or after Fifth Anniversary.  On or after the fifth anniversary of the Issue Date, subject to the provisions of Section 4(f) (Regulatory Approvals) hereof, this Subordinated Note shall be redeemable at the option of and by the Company, in whole or in part at any time and from time to time upon any Interest Payment Date, at an amount equal to 100% of the outstanding principal amount being redeemed plus accrued but unpaid interest, to but excluding the redemption date, but in all cases in a principal amount with integral multiples of $1,000.  In addition, on or after the fifth anniversary of the Issue Date, subject to Section 4(f) (Regulatory Approvals), the Company may redeem all or a portion of the Subordinated Notes, at any time upon the occurrence of a Tier 2 Capital Event, Tax Event or an Investment Company Event. 
(c)Partial Redemption.   If less than the then outstanding principal amount of this Subordinated Note is redeemed, (i) a new Subordinated Note shall be issued representing the unredeemed portion without charge to the applicable Noteholder and (ii) such redemption shall be effected on a pro rata basis as to the Noteholders.  For purposes of clarity, upon a partial redemption, a like percentage of the principal amount of every Subordinated Note held by every Noteholder shall be redeemed. 
(d)No Redemption at Option of Noteholder.  This Subordinated Note is not subject to redemption at the option of any Noteholder.  
(e)Effectiveness of Redemption.  If notice of redemption has been duly given and notwithstanding that this Subordinated Note has been called for redemption but has not yet been surrendered for cancellation, on and after the date fixed for redemption interest shall cease to accrue on the portion of this Subordinated Note called for redemption; this Subordinated Note shall no longer be deemed outstanding with respect to the portion called for redemption and all rights with respect to the portion of this Subordinated Note called for redemption shall forthwith on such date fixed for redemption cease and terminate unless the Company shall default in the 

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payment of the redemption price, subject only to the right of the Noteholder to receive the amount payable on such redemption, without interest.
(f)Regulatory Approvals. Any such redemption shall be subject to receipt of any and all required federal and state regulatory approvals or non-objections, as applicable, including, but not limited to, the consent of the Federal Reserve to the extent then required by applicable law.  In the case of any redemption of this Subordinated Note pursuant to paragraphs (b) or (c) of this Section 4, the Company will give the Noteholder notice of redemption, which notice shall indicate the aggregate principal amount of Subordinated Notes to be redeemed, not less than thirty (30) nor more than forty-five (45) calendar days prior to the proposed redemption date.
(g)Purchase and Resale of the Subordinated Notes. Subject to any required federal and state regulatory approvals and the provisions of this Subordinated Note, the Company shall have the right to purchase any of the Subordinated Notes at any time in the open market, private transactions or otherwise.  If the Company purchases any Subordinated Notes, it may, in its discretion, hold, resell or cancel any of the purchased Subordinated Notes.
5.Events of Default; Acceleration.  Each of the following events shall constitute an “Event of Default”:
(a)the entry of a decree or order for relief in respect of the Company by a court having jurisdiction in the premises in an involuntary case or proceeding under any applicable bankruptcy, insolvency, or reorganization law, now or hereafter in effect of the United States or any political subdivision thereof, and such decree or order will have continued unstayed and in effect for a period of ninety (90) consecutive calendar days;
(b)the commencement by the Company of a voluntary case under any applicable bankruptcy, insolvency or reorganization law, now or hereafter in effect of the United States or any political subdivision thereof, or the consent by the Company to the entry of a decree or order for relief in an involuntary case or proceeding under any such law;
(c)the Company (i) becomes insolvent or is unable to pay its debts as they mature, (ii) makes an assignment for the benefit of creditors, (iii) admits in writing its inability to pay its debts as they mature, or (iv) ceases to be a bank holding company or financial holding company under the Bank Holding Company Act of 1956, as amended;
(d)the failure of the Company to pay any installment of interest on any of the Subordinated Notes as and when the same will become due and payable, and the continuation of such failure for a period of thirty (30) calendar days;
(e)the failure of the Company to pay all or any part of the principal of any of the Subordinated Notes as and when the same will become due and payable;
(f)the liquidation of the Company (for the avoidance of doubt, “liquidation” does not include any merger, consolidation, sale of equity or assets or reorganization (exclusive of a reorganization in bankruptcy) of the Company or any of its Subsidiaries);

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(g)the failure of the Company to perform any other covenant or agreement on the part of the Company contained in the Subordinated Notes, and the continuation of such failure for a period of thirty (30) calendar days after the date on which notice specifying such failure, stating that such notice is a “Notice of Default” hereunder and demanding that the Company remedy the same, will have been given, in the manner set forth in Section 22 (Notices), to the Company by a Noteholder; and 
(h)the default by the Company under any bond, debenture, note or other evidence of indebtedness for money borrowed by the Company having an aggregate principal amount outstanding of at least $8,000,000, whether such indebtedness now exists or is created or incurred in the future, which default (i) constitutes a failure to pay any portion of the principal of such indebtedness when due and payable after the expiration of any applicable grace period or (ii) results in such indebtedness becoming due or being declared due and payable prior to the date on which it otherwise would have become due and payable without, in the case of clause (i), such indebtedness having been discharged or, in the case of clause (ii), such indebtedness having been discharged or such acceleration having been rescinded or annulled.
Unless the principal amount of this Subordinated Note already shall have become due and payable, if an Event of Default set forth in Section 5(a) or Section 5(b) shall have occurred and be continuing, Noteholders holding not less than twenty percent (20%) in aggregate principal amount of the Subordinated Notes at the time outstanding, by notice in writing to the Company, may declare the principal amount of all outstanding Subordinated Notes to be due and payable immediately and, upon any such declaration, the same shall become and shall be immediately due and payable.  The Company waives demand, presentment for payment, notice of nonpayment, notice of protest, and all other notices.  Notwithstanding the foregoing, because the Company will treat the Subordinated Notes as Tier 2 Capital, upon the occurrence of an Event of Default other than an Event of Default described in Section 5(a) or Section 5(b), the Noteholders may not accelerate the Maturity Date of the Subordinated Notes and make the principal of, and any accrued and unpaid interest on, the Subordinated Notes, immediately due and payable.  The Company, within thirty (30) calendar days after the receipt of written notice from any Noteholder of the occurrence of an Event of Default with respect to this Subordinated Note, shall mail to all Noteholders, at their addresses shown on the Security Register (as defined in Section 14 (Registration of Transfer, Security Register) below), such written notice of Event of Default, unless such Event of Default shall have been cured or waived before the giving of such notice as certified by the Company in writing to the Noteholder or Noteholders who provided written notice of such Event of Default.
6.Failure to Make Payments.  In the event of any failure by the Company to make any required payment of principal or interest on this Subordinated Note (and in the case of payment of interest, such failure to pay shall have continued for thirty (30) calendar days), the Company will, upon demand of the Noteholders, pay to the Noteholders the amount then due and payable on this Subordinated Note for principal and interest (without acceleration of the Subordinated Note in any manner), with interest on the overdue principal and interest at the rate per annum borne by the Subordinated Note, to the extent permitted by applicable law.  If the Company fails to pay such amount upon such demand, the Noteholders may, among other things, institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company and collect the amounts 

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adjudged or decreed to be payable in the manner provided by law out of the property of the Company.
Upon the occurrence of a failure by the Company to make any required payment of principal or interest on this Subordinated Note, or an Event of Default until such Event of Default is cured by the Company, or waived by the Noteholders in accordance with Section 17 (Waiver and Consent) hereof, except as may be required by any federal or state bank regulatory agency, the Company shall not: (a) declare or pay any dividends or distributions on, or redeem, purchase, acquire, or make a liquidation payment with respect to, any of the Company’s capital stock; (b) make any payment of principal or interest or premium, if any, on or repay, repurchase or redeem any indebtedness of the Company that ranks equal with or junior to the Subordinated Notes; or (c) make any payments under any guarantee of indebtedness, which guarantee ranks equal with or junior to the Subordinated Notes, other than (i) any dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of, any class of the Company’s common stock; (ii) any declaration of a non-cash dividend in connection with the implementation of a shareholders’ rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto; (iii) as a result of a reclassification of the Company’s capital stock or the exchange or conversion of one class or series of the Company’s capital stock for another class or series of the Company’s capital stock; (iv) the purchase of fractional interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged; or (v) purchases of any class of the Company’s common stock related to the issuance of common stock or rights under any benefit plans for the Company’s directors, officers or employees or any of the Company’s dividend reinvestment plans (including, without limitation, any repurchases or acquisitions in connection with the forfeiture of any stock award, cashless or net exercise of any option, or acceptance of common stock in lieu of an award recipient’s tax obligation under any equity award) (the foregoing clauses (i) through (v) are collectively referred to as the “Permitted Dividends”).
7.Affirmative Covenants of the Company.
(a)Notice of Certain Events.  To the extent permitted by applicable statute, rule or regulation, the Company shall provide written notice to the Noteholder of the occurrence of any of the following events as soon as practicable, but in no event later than fifteen (15) Business Days following the Company becoming aware of the occurrence of such event:
(i)the total risk-based capital ratio, Tier 1 risk-based capital ratio, common equity Tier 1 risk-based capital ratio or leverage ratio of the Company (but only to the extent the Company is required to measure and report such ratios on a consolidated basis under applicable law) or any of the Company’s banking subsidiaries becomes less than eight percent (8.0%), six percent (6.0%), four and one-half percent (4.50%) or four percent (4.0%), respectively, as of the end of any fiscal quarter;
(ii)the Company, or any officer of the Company, becomes subject to any formal, written regulatory enforcement action (as defined by the applicable regulatory agency);

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(iii)the ratio of non-performing assets to total assets of First Western Trust Bank (the “Bank”), as calculated by the Company in the ordinary course of business and consistent with past practices, becomes greater than four percent (4.0%); or
(iv)there occurs a change in ownership of twenty-five percent (25.0%) or more of the voting securities of the Company, except as a result of the issuance of Company common stock.
(b)Payment of Principal and Interest.  The Company covenants and agrees for the benefit of the Noteholders that it will duly and punctually pay the principal of, and interest on, this Subordinated Note, in accordance with the terms hereof.  
(c)Maintenance of Office. The Company will maintain an office or agency in the State of Colorado, unless the Company has provided due notice to the Noteholders of such change in office or agency location, where the Subordinated Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Company in respect of the Subordinated Notes may be served.  The Company may also from time to time designate one or more other offices or agencies where the Subordinated Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided that no such designation or rescission will in any manner relieve the Company of its obligation to maintain an office or agency in the State of Colorado unless the Company has provided due notice to the Noteholders of such change in office or agency location. The Company will give prompt written notice to the Noteholders of any such designation or rescission and of any change in the location of any such other office or agency.
(d)Corporate Existence. The Company will do or cause to be done all things necessary to preserve and keep in full force and effect: (i) the corporate existence of the Company; (ii) the existence (corporate or other) of each Subsidiary of the Company; and (iii) the rights (constituent governing documents and statutory), licenses and franchises of the Company and each of its Subsidiaries; provided, however, that the Company will not be required to preserve the existence (corporate or other) of any of its subsidiaries or any such right, license or franchise of the Company or any of its Subsidiaries if the Board of Directors of the Company determines that the preservation thereof is no longer desirable in the conduct of the business of the Company and each of its Subsidiaries taken as a whole and that the loss thereof will not be disadvantageous in any material respect to the Noteholders.
(e)Maintenance of Properties. The Company will, and will cause each Subsidiary to, cause all its properties used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section will prevent the Company or any of its Subsidiaries from discontinuing the operation and maintenance of any of their respective properties if such discontinuance is, in the judgment of the Board of Directors of the Company or any of its Subsidiaries, as the case may be, desirable in the conduct of its business.

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(f)Compliance Certificate.  The Company will deliver to the Noteholders, within 120 calendar days after the end of each fiscal year, an Officer’s Certificate covering the preceding fiscal year, stating whether or not, to the best of his or her knowledge, the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Subordinated Note (without regard to notice requirements or periods of grace) and if the Company will be in default, specifying all such defaults and the nature and status thereof of which he or she may have knowledge.
(g)Tier 2 Capital.  Whether or not the Company is subject to consolidated capital requirements under applicable regulations of the Federal Reserve, if all or any portion of the Subordinated Notes ceases to be eligible, or there is a material risk that the Subordinated Note will cease to be eligible, to qualify as Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five (5) years immediately preceding the Maturity Date of the Subordinated Notes, the Company will promptly notify the Noteholder and thereafter, subject to the Company’s right to redeem the Subordinated Notes under such circumstances pursuant to the terms of the Subordinated Notes, if requested by the Company, the Company and the Noteholder will work together in good faith to execute and deliver all agreements as reasonably necessary in order to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to be eligible to qualify as Tier 2 Capital; provided, however, that nothing contained in this Section 7(g) shall limit the Company’s right to redeem the Subordinated Notes upon the occurrence of a Tier 2 Capital Event pursuant to Section 4(a) (Redemption Prior to Fifth Anniversary) or Section 4(b) (Redemption on or after Fifth Anniversary).
(h)Compliance with Laws.  The Company shall comply with the requirements of all laws, regulations, orders and decrees applicable to it or its properties, except for such noncompliance that would not reasonably be expected to have a Material Adverse Effect (as such term is defined in the Purchase Agreement) on the Company and its subsidiaries taken as a whole.
(i)Taxes and Assessments.  The Company shall punctually pay and discharge all material taxes, assessments, and other governmental charges or levies imposed upon it or upon its income or upon any of its properties; provided, that no such taxes, assessments or other governmental charges need be paid if they are being contested in good faith by the Company.
(j)Financial Statements; Access to Records. 
(i)Not later than forty-five (45) days following the end of each fiscal quarter for which the Company has not submitted a Consolidated Financial Statements for Holding Companies Reporting Form FR Y-9C to the Federal Reserve, upon request, the Company shall provide the Noteholders with a copy of the Company’s unaudited parent company only balance sheet and statement of income (loss) for and as of the end of such immediately preceding fiscal quarter, prepared in accordance with past practice. Quarterly financial statements, if required herein, shall be unaudited and need not comply with GAAP.
(ii)Not later than one hundred twenty (120) days from the end of each fiscal year, upon request the Company shall provide the Noteholder, to the extent not publicly filed with a government entity, with copies of the Company’s audited financial statements consisting of the consolidated balance sheet of the Company as of the fiscal year end and the related statements of 

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income (loss) and retained earnings, stockholders’ equity and cash flows for the fiscal year then ended.  Such financial statements shall be prepared in accordance with GAAP applied on a consistent basis throughout the period involved.
(iii)Notwithstanding anything to the contrary, any financial statements filed with the Securities and Exchange Commission through its Electronic Data Gathering, Analysis and Retrieval system, the Federal Reserve or any other regulatory agency that makes such financial statements generally available to the public shall be deemed to have been provided to the Noteholders. 
8.Negative Covenants of the Company.
(a)Limitation on Dividends.  The Company shall not declare or pay any dividend or make any distribution on capital stock or other equity securities of any kind of the Company if the Company is not “well capitalized” for regulatory capital purposes immediately prior to the declaration of such dividend or distribution, except for Permitted Dividends.
(b)Merger or Sale of Assets.  The Company shall not merge into another entity, or convey, transfer or lease all or substantially all of  its properties and assets to any Person, unless:
(i)the continuing entity into which the Company is merged or the Person which acquires by conveyance or transfer or which leases all or substantially all of the properties and assets of the Company shall be a corporation, association or other legal entity organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and expressly assumes the due and punctual payment of the principal of and any premium and interest on the Subordinated Notes according to their terms, and the due and punctual performance of all covenants and conditions hereof on the part of the Company to be performed or observed; and
(ii)immediately after giving effect to such transaction, no Event of Default (as defined above), and no event which, after notice or lapse of time or both, would become an Event of Default, shall have occurred and be continuing.
(c)Change in Bank Control. The Company shall not effect a Change in Bank Control. “Change in Bank Control” means the sale, transfer, lease or conveyance by the Company, or an issuance of stock by the Bank, in either case resulting in ownership by the Company of securities that provides it with less than 80% of the Bank’s outstanding voting equity securities, calculated on the basis of voting power; provided, that, a merger of the Company or the conveyance, transfer or lease of all or substantially all of the Company’s properties and assets shall not constitute a Change in Bank Control so long as the Company satisfies the conditions set forth in Section 8(b).
9.[Global Subordinated Notes.  

(a)The Company shall use its commercially reasonable efforts to provide that the Subordinated Notes owned by Noteholders that are “qualified institutional buyers” (as defined in Rule 144A of the Securities Act) shall be issued in the form of one or more Global Subordinated Notes (each a “Global Subordinated Note”) registered in the name of The Depository Trust Company (“DTC”) or another organization registered as a clearing agency under the Securities 

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Exchange Act of 1934, as amended (the “Exchange Act”), and designated as Depositary by the Company or any successor thereto (the “Depositary”) or a nominee thereof and delivered to such Depositary or a nominee thereof.
(b)Notwithstanding any other provision herein, no Global Subordinated Note may be exchanged in whole or in part for Subordinated Notes registered, and no transfer of a Global Subordinated Note in whole or in part may be registered, in the name of any person other than the Depositary for such Global Subordinated Note or a nominee thereof unless (i) such Depositary advises the Company in writing that such Depositary is no longer willing or able to properly discharge its responsibilities as Depositary with respect to such Global Subordinated Note, and no qualified successor is appointed by the Company within ninety (90) calendar days of receipt by the Company of such notice, (ii) such Depositary ceases to be a clearing agency registered under the Exchange Act and no successor is appointed by the Company within ninety (90) calendar days after obtaining knowledge of such event, (iii) the Company elects to terminate the book-entry system through the Depositary or (iv) an Event of Default shall have occurred and be continuing.  Upon the occurrence of any event specified in clause (i), (ii), (iii) or (iv) of this Section 9(b), the Company or its agent shall notify the Depositary and instruct the Depositary to notify all owners of beneficial interests in such Global Subordinated Note of the occurrence of such event and of the availability of Subordinated Notes to such owners of beneficial interests requesting the same.  
(c)If any Global Subordinated Note is to be exchanged for other Subordinated Notes or canceled in part, or if another Subordinated Note is to be exchanged in whole or in part for a beneficial interest in any Global Subordinated Note, then either (i) such Global Subordinated Note shall be so surrendered for exchange or cancellation as provided in this Section 9 or (ii) the principal amount thereof shall be reduced or increased by an amount equal to the portion thereof to be so exchanged or canceled, or equal to the principal amount of such other Subordinated Note to be so exchanged for a beneficial interest therein, as the case may be, by means of an appropriate adjustment made on the records of the Company or, if applicable, the Company’s registrar and transfer agent (“Registrar”), whereupon the Company or, if applicable, the Registrar, in accordance with the applicable rules and procedures of the Depositary (“Applicable Depositary Procedures”), shall instruct the Depositary or its authorized representative to make a corresponding adjustment to its records.  Upon any such surrender or adjustment of a Global Subordinated Note by the Depositary, accompanied by registration instructions, the Company shall execute and deliver any Subordinated Notes issuable in exchange for such Global Subordinated Note (or any portion thereof) in accordance with the instructions of the Depositary.  
(d)Every Subordinated Note executed and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Subordinated Note or any portion thereof shall be executed and delivered in the form of, and shall be, a Global Subordinated Note, unless such Subordinated Note is registered in the name of a person other than the Depositary for such Global Subordinated Note or a nominee thereof.
(e)The Depositary or its nominee, as the registered owner of a Global Subordinated Note, shall be the holder of such Global Subordinated Note for all purposes under this Subordinated Note, and owners of beneficial interests in a Global Subordinated Note shall hold such interests pursuant to Applicable Depositary Procedures.  Accordingly, any such owner’s beneficial interest in a Global Subordinated Note shall be shown only on, and the transfer of such 

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interest shall be effected only through, records maintained by the Depositary or its nominee or its Depositary participants.  If applicable, the Registrar shall be entitled to deal with the Depositary for all purposes relating to a Global Subordinated Note (including the payment of principal and interest thereon and the giving of instructions or directions by owners of beneficial interests therein and the giving of notices) as the sole holder of the Subordinated Note and shall have no obligations to the owners of beneficial interests therein.  The Registrar shall have no liability in respect of any transfers effected by the Depositary.
(f)The rights of owners of beneficial interests in a Global Subordinated Note shall be exercised only through the Depositary and shall be limited to those established by law and agreements between such owners and the Depositary and/or its participants.
(g)No holder of any beneficial interest in any Global Subordinated Note held on its behalf by a Depositary shall have any rights with respect to such Global Subordinated Note, and such Depositary may be treated by the Company and any agent of the Company as the owner of such Global Subordinated Note for all purposes whatsoever.  Neither the Company nor any agent of the Company will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Subordinated Note or maintaining, supervising or reviewing any records relating to such beneficial ownership interests.  Notwithstanding the foregoing, nothing herein shall prevent the Company or any agent of the Company from giving effect to any written certification, proxy or other authorization furnished by a Depositary or impair, as between a Depositary and such holders of beneficial interests, the operation of customary practices governing the exercise of the rights of the Depositary (or its nominee) as holder of any Subordinated Note. 
(h)The Company, within thirty (30) calendar days after the receipt of written notice from the Noteholder or any other holder of the Subordinated Notes of the occurrence of an Event of Default with respect to this Subordinated Note, shall notify all the Noteholders, at their addresses shown on the Security Register (as defined herein), such written notice of Event of Default, unless such Event of Default shall have been cured or waived before the giving of such notice as certified by the Company in writing.]

10.Denominations.  The Subordinated Notes are issuable only in registered form without interest coupons in minimum denominations of $250,000 and integral multiples of $1,000 in excess thereof. 
11.Charges and Transfer Taxes.  No service charge will be made for any registration of transfer or exchange of this Subordinated Note, or any redemption or repayment of the Subordinated Note, or any conversion or exchange of this Subordinated Note for other types of securities or property, but the Company may require payment of a sum sufficient to pay all taxes, assessments or other governmental charges that may be imposed in connection with the transfer or exchange of this Subordinated Note from the Noteholder requesting such transfer or exchange.
12.Payment Procedures.  
(a)Payments of the principal and interest payable on the Maturity Date will be made by (i) check mailed to the registered Noteholder, as such person’s address appears on the Security 

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Register (as defined herein), or (ii) wire transfer or Automated Clearing House (ACH) transfer in immediately available funds to a bank account in the United States designated by the Noteholder if such Noteholder shall have previously provided wire or ACH instructions to the Company, upon presentation and surrender of this Subordinated Note at the Payment Office (as defined herein) or at such other place or places as the Company shall designate by notice to the Noteholders as the Payment Office or the offices of the Registrar, provided that this Subordinated Note is presented to the Company in time for the Company to make such payments in such funds in accordance with its normal procedures. Payments of interest (other than interest payable on the Maturity Date) shall be made by (x) check mailed to the registered Noteholder, as such person’s address appears on the Security Register (as defined herein) or (y) wire transfer or ACH transfer in immediately available funds to an account at an institution in the United States designated by such Noteholder, if such Noteholder shall have previously provided wire or ACH instructions to the Company.  
(b)Interest payable on any Interest Payment Date shall be payable to the Noteholder in whose name this Subordinated Note is registered at the close of business on the fifteenth (15th) calendar day prior to the applicable Interest Payment Date, without regard to whether such date is a Business Day, except that interest not paid on the Interest Payment Date, if any, will be paid to the Noteholder in whose name this Subordinated Note is registered at the close of business on a special record date fixed by the Company (a “Special Record Date”), notice of which shall be given to the Noteholder not less than ten (10) calendar days prior to such Special Record Date.  
(c)To the extent permitted by applicable law, interest shall accrue, at the rate at which interest accrues on the principal of this Subordinated Note, on any amount of principal or interest on this Subordinated Note not paid when due.  All payments on this Subordinated Note shall be applied first against interest due hereunder; and then against principal due hereunder.  The Noteholder acknowledges and agrees that the payment of all or any portion of the outstanding principal amount of this Subordinated Note and all interest hereon shall be pari passu in right of payment and in all other respects to the other Subordinated Notes.  In the event that the Noteholder receives payments in excess of its pro rata share of the Company’s payments to the Noteholders of all of the Subordinated Notes, then the Noteholder shall hold in trust all such excess payments for the benefit of the holders of the other Subordinated Notes and shall pay such amounts held in trust to such other Noteholders upon demand by such Noteholders.
13.Form of Payment.  Payments of principal of and interest on this Subordinated Note shall be made in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts.
14.Registration of Transfer, Security Register.  Except as otherwise provided herein, or in the Purchase Agreement, and subject to limitations set forth under applicable state and federal securities laws, this Subordinated Note is transferable in whole or in part and may be exchanged for a like aggregate principal amount of Subordinated Notes of other authorized denominations, by the Noteholder in person, or by its attorney duly authorized in writing, at the Payment Office.  The Company or, if applicable, the Company’s registrar and transfer agent (the “Registrar”), shall maintain a register providing for the registration of the Subordinated Notes and any exchange or transfer thereof (the “Security Register”).  Upon surrender or presentation of the Subordinated Note for exchange or registration of transfer, the Company, or the Registrar, as the case may be, shall execute and deliver in exchange therefor a Subordinated Note or Subordinated Notes of like 

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aggregate principal amount, each in a minimum denomination of $250,000 or any amount in excess thereof which is an integral multiple of $1,000 (and, in the absence of an opinion of counsel satisfactory to the Company to the contrary, bearing the restrictive legend(s) set forth hereinabove) and that is or are registered in such name or names requested by the Noteholder.  Any Subordinated Note presented or surrendered for registration of transfer or for exchange shall be duly endorsed and accompanied by a written instrument of transfer in such form as is attached hereto and incorporated herein, duly executed by the Noteholder or its attorney duly authorized in writing, with such tax identification number or other information for each person in whose name a Subordinated Note is to be issued, and accompanied by evidence of compliance with any restrictive legend(s) appearing on such Subordinated Note or Subordinated Notes as the Company may reasonably request to comply with applicable law.  No exchange or registration of transfer of this Subordinated Note shall be made on or after (i) the fifteenth (15th) calendar day immediately preceding the Maturity Date or (ii) the due delivery of notice of redemption.  
15.Priority.  The Subordinated Notes rank pari passu among themselves and, in the event of any insolvency proceeding, dissolution, assignment for the benefit of creditors, reorganization, restructuring of debt, marshaling of assets and liabilities or similar proceeding or any liquidation or winding up of the Company, pari passu with all other present or future unsecured subordinated debt obligations of the Company, except any unsecured subordinated debt that, pursuant to its express terms, is senior or subordinate in right of payment to the Subordinated Notes (including all Senior Indebtedness).
16.Ownership.  Prior to due presentment of this Subordinated Note for registration of transfer, the Company may treat the Noteholder in whose name this Subordinated Note is registered in the Security Register as the absolute owner of this Subordinated Note for receiving payments of principal and interest on this Subordinated Note and for all other purposes whatsoever, whether or not this Subordinated Note be overdue, and the Company shall not be affected by any notice to the contrary.
17.Waiver and Consent.
(a)Any consent or waiver given by the Noteholders or otherwise in accordance with the terms hereof shall be conclusive and binding upon such Noteholder and upon all subsequent holders of this Subordinated Note and of any Subordinated Note issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Subordinated Note.  No delay or omission of the Noteholder to exercise any right or remedy accruing upon any Event of Default shall impair such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Any insured depository institution which shall be a Noteholder or which otherwise shall have any beneficial ownership interest in this Subordinated Note shall, by its acceptance of this Subordinated Note (or beneficial interest therein), be deemed to have waived any right of offset with respect to the repayment of the indebtedness evidenced thereby.
(b)No waiver or amendment of any term, provision, condition, covenant or agreement in the Subordinated Notes shall be effective except with the written consent of the Noteholders holding more than fifty percent (50%) in aggregate principal amount (excluding any Subordinated Notes held by the Company or any of its Affiliates) of the Subordinated Notes at the time 

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outstanding; provided, however, that without the consent of each Noteholder of an affected Subordinated Note, no such amendment or waiver may:  (i) reduce the principal amount of such Subordinated Note; (ii) reduce the rate of or change the time for payment of interest on such Subordinated Note; (iii) extend the maturity of any Subordinated Note; (iv) change the currency in which payment of the obligations of the Company under the Subordinated Notes are to be made; (v) lower the percentage of aggregate principal amount of outstanding Subordinated Notes required to approve any amendments of the Subordinated Notes; (vi) make any changes to Section 5 (Events of Default; Acceleration); Section 6 (Failure to Make Payments); Section 7 (Affirmative Covenants of the Company); Section 8 (Negative Covenants of the Company) or Section 17 (Waiver and Consent) of the Subordinated Notes that adversely affects the rights of any Noteholder; or (vii) disproportionately affect any of the Noteholders of the then outstanding Subordinated Notes.  Notwithstanding the foregoing, the Company may amend or supplement the Subordinated Notes without the consent of the Noteholders to cure any ambiguity, defect or inconsistency or to provide for uncertificated Subordinated Notes in addition to or in place of certificated Subordinated Notes, or to make any change that does not adversely affect the rights of any Noteholder of any of the Subordinated Notes.  No failure to exercise or delay in exercising, by any Noteholder of the Subordinated Notes, of any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise thereof, or the exercise of any other right or remedy provided by law, except as restricted hereby.  The rights and remedies provided in this Subordinated Note are cumulative and not exclusive of any right or remedy provided by law or equity.  No notice or demand on the Company in any case shall, in itself, entitle the Company to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the Noteholders to any other or further action in any circumstances without notice or demand.  No consent or waiver, express or implied, by the Noteholders to or of any breach or default by the Company in the performance of its obligations hereunder shall be deemed or construed to be a consent or waiver to or of any other breach or default in the performance of the same or any other obligations of the Company hereunder.  Failure on the part of the Noteholders to complain of any acts or failure to act or to declare an Event of Default, irrespective of how long such failure continues, shall not constitute a waiver by the Noteholders of their rights hereunder or impair any rights, powers or remedies on account of any breach or default by the Company.
18.Absolute and Unconditional Obligation of the Company.  No provisions of the Subordinated Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal and interest on this Subordinated Note at the times, places and rate, and in the coin or currency, herein prescribed.
19.Successors and Assigns.  This Subordinated Note shall be binding upon the Company and inure to the benefit of the Noteholder and its respective successors and permitted assigns.  The Noteholder may, subject to  the terms set forth in the restrictive legend(s) set forth hereinabove, assign all, or any part of, or any interest in, the Noteholder’s rights and benefits hereunder.  To the extent of any such assignment, such assignee shall have the same rights and benefits against the Company and shall agree to be bound by and to comply with the terms and conditions of the Purchase Agreement as it would have had if it were the Noteholder hereunder. 

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20.No Sinking Fund; Convertibility.  This Subordinated Note is not entitled to the benefit of any sinking fund.  This Subordinated Note is not convertible into or exchangeable for any of the equity securities, other securities or assets of the Company or any of its Subsidiaries.
21.No Recourse Against Others.  No recourse under or upon any obligation, covenant or agreement contained in this Subordinated Note, or for any claim based thereon or otherwise in respect thereof, will be had against any past, present or future shareholder, employee, officer, or director, as such, of the Company or of any predecessor or successor, either directly or through the Company or any predecessor or successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance of this Subordinated Note by the Noteholder and as part of the consideration for the issuance of this Subordinated Note.
22.Notices.  All notices to the Company under this Subordinated Note shall be in writing and addressed to the Company at: 1900 16th Street, Suite 1200, Denver, CO, 80202, Attention: Chief Financial Officer, or to such other address as the Company may provide to the Noteholders (the “Payment Office”).  All notices to the Noteholders shall be deemed to have been given if in writing to the address in the Security Register and if delivered personally, or if mailed, postage prepaid, by United States registered or certified mail, return receipt requested, or if delivered by a responsible overnight commercial courier promising next business day delivery. Any notice given in accordance with the foregoing shall be deemed given when delivered personally or, if mailed, three (3) Business Days after it shall have been deposited in the United States mails as aforesaid or, if sent by overnight courier, the Business Day following the date of delivery to such courier (provided next Business Day delivery was requested).
23.Further Issues.  The Company may, without the consent of the Noteholders, create and issue additional notes having the same terms and conditions of the Subordinated Notes (except for the Issue Date) so that such further notes shall be consolidated and form a single series with the Subordinated Notes.  
24.Governing Law; Interpretation.  THIS SUBORDINATED NOTE WILL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW YORK AND WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THEREOF (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).  THIS SUBORDINATED NOTE IS INTENDED TO MEET THE CRITERIA FOR QUALIFICATION OF THE OUTSTANDING PRINCIPAL AS TIER 2 CAPITAL UNDER THE REGULATORY GUIDELINES OF THE FEDERAL RESERVE, AND THE TERMS HEREOF SHALL BE INTERPRETED IN A MANNER TO SATISFY SUCH INTENT.
​

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​
IN WITNESS WHEREOF, the undersigned has caused this Subordinated Note to be duly executed and attested.
		FIRST WESTERN FINANCIAL, INC. 
​

				
		​
​
By:
	
			Name:
	​

			Title: 
	

​
	ATTEST:
	​
​

		
	Name: 
	
	Title:  
	

​
​

[Signature Page to Subordinated Note]

​

ASSIGNMENT FORM
[Capitalized terms used herein but not defined have the meanings assigned to such terms in the Subordinated Note]
To assign the Subordinated Note, fill in the form below: (I) or (we) assign and transfer this Subordinated Note to:
​ ​​ ​​
(Print or type assignee’s name, address and zip code)
​
​ ​​ ​​
(Print or type assignee’s social security or tax identification number)
​
and irrevocably appoint _______________________ as agent to transfer this Subordinated Note on the books of the Company. The agent may substitute another to act for it.
​
Date:​ ​Your signature:​ ​
(Sign exactly as your name appears on the face of this Subordinated Note)
​
FOR EXECUTION BY ENTITY:
​
By:​ ​​ ​​ ​​ ​​ ​
Name:​ ​​ ​​ ​​ ​​ ​
Title:​ ​​ ​​ ​​ ​​ ​
​
Tax identification no:​ ​
​
Signature guarantee:​ ​
(Signatures must be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to Rule 17Ad-15 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)).
​
The undersigned certifies that it [is / is not] (circle one) an Affiliate of the Company and that, to its knowledge, the proposed transferee [is / is not] (circle one) an Affiliate of the Company.
​
In connection with any transfer or exchange of this Subordinated Note occurring prior to the date that is one year after the later of the date of original issuance of this Subordinated Note and the last date, if any, on which this Subordinated Note was owned by the Company or any Affiliate of the Company, the undersigned confirms that this Subordinated Note is being:
CHECK ONE BOX BELOW:

​

​

◻(1)acquired for the undersigned’s own account, without transfer;
◻(2)transferred to the Company;
◻(3)transferred in accordance and in compliance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”);
◻(4)transferred under an effective registration statement under the Securities Act;
◻(5)transferred in accordance with and in compliance with Regulation S under the Securities Act;
◻(6)transferred to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act);
◻(7)transferred to an “accredited investor” (as defined in Rule 501(a)(4) under the Securities Act), not referred to in item (6) that has been provided with the information designated under Section 4(d) of the Securities Act of 1933; or
◻(8)transferred in accordance with another available exemption from the registration requirements of the Securities Act.
Unless one of the boxes is checked, the Company will refuse to register this Subordinated Note in the name of any Person other than the registered holder thereof; provided, however, that if box (5), (6), (7) or (8) is checked, the Company may require, prior to registering any such transfer of this Subordinated Note, in its sole discretion, such legal opinions, certifications and other information as the Company may reasonably request to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act such as the exemption provided by Rule 144 under such Act.
Assignee’s signature:​ ​
​
FOR EXECUTION BY ENTITY
​
​
By:​ ​​ ​​ ​​ ​​ ​
Name:​ ​​ ​​ ​​ ​​ ​
Title:​ ​​ ​​ ​​ ​​ ​
​
​
Signature guarantee:​ ​
(Signatures must be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to Exchange Act Rule 17Ad-l5)
TO BE COMPLETED BY PURCHASER IF BOX (1) OR (3) ABOVE IS CHECKED.
​

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The undersigned represents and warrants that it is purchasing this Subordinated Note for its own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A.
​
Date:​ ​Assignee’s Signature:​ ​
​
FOR EXECUTION BY ENTITY:
​
​
By:​ ​​ ​​ ​​ ​​ ​
Name:​ ​​ ​​ ​​ ​​ ​
Title:​ ​​ ​​ ​​ ​​ ​
​
Tax identification no.:​ ​​ ​​ ​
​
​
​

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EXHIBIT B
FORM OF OPINION OF COUNSEL

​EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
  

 
  

CUSIP NO. 88738WAL7 
 REVOLVER CUSIP
NO. 88738WAM5 
 TERM LOAN CUSIP NO. 88738WAN3 

FIFTH AMENDED AND RESTATED 

CREDIT AGREEMENT 
 Dated as
of December 5, 2022 
 among 

THE TIMKEN COMPANY, 
 as a
Borrower, 
 BANK OF AMERICA, N.A. and KEYBANK NATIONAL ASSOCIATION, 

as Co-Administrative Agents, 

JPMORGAN CHASE BANK, N.A. 
 and

 PNC BANK, NATIONAL ASSOCIATION, 

as Co-Syndication Agents, 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Documentation Agent, 
 KEYBANK
NATIONAL ASSOCIATION, 
 as Paying Agent, L/C Issuer and Swing Line Lender, 

and 
 The Other Lenders Party
Hereto 
 BofA SECURITIES, INC., 

KEYBANC CAPITAL MARKETS INC., 

JPMORGAN CHASE BANK, N.A. 
 and 

PNC CAPITAL MARKETS LLC, 
 as 

Joint Lead Arrangers and Joint Bookrunners 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	  	 	  	Page	 
		
	 Article I DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	 
			
	 1.01
	  	Defined Terms	  	 	1	 
	 1.02
	  	Other Interpretive Provisions	  	 	35	 
	 1.03
	  	Accounting Terms	  	 	36	 
	 1.04
	  	Rounding	  	 	37	 
	 1.05
	  	References to Agreements and Laws	  	 	37	 
	 1.06
	  	Times of Day.	  	 	37	 
	 1.07
	  	Letter of Credit Amounts	  	 	37	 
	 1.08
	  	Currency Equivalents Generally	  	 	37	 
	 1.09
	  	Interest Rates	  	 	37	 
		
	 Article II THE COMMITMENTS AND CREDIT EXTENSIONS
	  	 	38	 
			
	 2.01
	  	The Loans	  	 	38	 
	 2.02
	  	Borrowings, Conversions and Continuations of Loans	  	 	38	 
	 2.03
	  	Letters of Credit	  	 	41	 
	 2.04
	  	Swing Line Loans	  	 	49	 
	 2.05
	  	Prepayments	  	 	51	 
	 2.06
	  	Termination or Reduction of Commitments	  	 	53	 
	 2.07
	  	Repayment of Loans	  	 	54	 
	 2.08
	  	Interest	  	 	55	 
	 2.09
	  	Fees	  	 	55	 
	 2.10
	  	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate	  	 	56	 
	 2.11
	  	Evidence of Indebtedness	  	 	56	 
	 2.12
	  	Payments Generally	  	 	57	 
	 2.13
	  	Sharing of Payments	  	 	59	 
	 2.14
	  	Committed Currency Borrowings	  	 	60	 
	 2.15
	  	Cash Collateral	  	 	61	 
	 2.16
	  	Defaulting Lender	  	 	62	 
	 2.17
	  	Designated Borrower	  	 	64	 
	 2.18
	  	Amend and Extend Transactions	  	 	65	 
		
	 Article III TAXES, YIELD PROTECTION AND ILLEGALITY
	  	 	67	 
			
	 3.01
	  	Taxes	  	 	67	 
	 3.02
	  	Illegality	  	 	70	 
	 3.03
	  	Inability to Determine Rates	  	 	71	 
	 3.04
	  	Increased Cost and Reduced Return; Capital Adequacy	  	 	74	 
	 3.05
	  	Funding Losses	  	 	75	 
	 3.06
	  	Matters Applicable to All Requests for Compensation	  	 	76	 
	 3.07
	  	Survival	  	 	76	 
		
	 Article IV [RESERVED]
	  	 	76	 
		
	 Article V CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	  	 	76	 
			
	 5.01
	  	Conditions of Initial Credit Extension	  	 	76	 
	 5.02
	  	Conditions to all Credit Extensions	  	 	78	 
		
	 Article VI REPRESENTATIONS AND WARRANTIES
	  	 	79	 

  
 i 

							
	 6.01
	  	Existence, Qualification and Power; Compliance with Laws	  	 	79	 
	 6.02
	  	Authorization; No Contravention	  	 	79	 
	 6.03
	  	Governmental Authorization; Other Consents	  	 	79	 
	 6.04
	  	Binding Effect	  	 	80	 
	 6.05
	  	Financial Statements; No Material Adverse Effect	  	 	80	 
	 6.06
	  	Litigation	  	 	80	 
	 6.07
	  	No Default	  	 	80	 
	 6.08
	  	Ownership of Property	  	 	81	 
	 6.09
	  	Environmental Compliance	  	 	81	 
	 6.10
	  	Taxes	  	 	81	 
	 6.11
	  	Pension Plans	  	 	81	 
	 6.12
	  	Margin Regulations; Investment Company Act	  	 	82	 
	 6.13
	  	Disclosure	  	 	82	 
	 6.14
	  	Compliance with Laws	  	 	82	 
	 6.15
	  	OFAC; Sanctions	  	 	82	 
	 6.16
	  	Anti-Corruption Laws	  	 	83	 
	 6.17
	  	Affected Financial Institution	  	 	83	 
	 6.18
	  	Beneficial Ownership Certification	  	 	83	 
		
	 Article VII AFFIRMATIVE COVENANTS
	  	 	83	 
			
	 7.01
	  	Financial Statements	  	 	83	 
	 7.02
	  	Certificates; Other Information	  	 	84	 
	 7.03
	  	Notices	  	 	85	 
	 7.04
	  	[Reserved]	  	 	85	 
	 7.05
	  	Preservation of Existence, Etc.	  	 	85	 
	 7.06
	  	Maintenance of Properties	  	 	85	 
	 7.07
	  	Maintenance of Insurance	  	 	86	 
	 7.08
	  	Compliance with Laws	  	 	86	 
	 7.09
	  	Books and Records	  	 	86	 
	 7.10
	  	Inspection Rights	  	 	86	 
	 7.11
	  	Use of Proceeds	  	 	86	 
	 7.12
	  	Covenant to Guarantee Obligations	  	 	87	 
	 7.13
	  	[Reserved]	  	 	87	 
	 7.14
	  	Further Assurances	  	 	87	 
	 7.15
	  	Anti-Corruption Laws; Sanctions	  	 	88	 
		
	 Article VIII NEGATIVE COVENANTS
	  	 	88	 
			
	 8.01
	  	Liens	  	 	88	 
	 8.02
	  	Acquisitions and Joint Ventures	  	 	89	 
	 8.03
	  	Indebtedness	  	 	90	 
	 8.04
	  	Fundamental Changes	  	 	90	 
	 8.05
	  	Dispositions	  	 	91	 
	 8.06
	  	[Reserved]	  	 	92	 
	 8.07
	  	Change in Nature of Business	  	 	92	 
	 8.08
	  	Transactions with Affiliates	  	 	92	 
	 8.09
	  	[Reserved]	  	 	92	 
	 8.10
	  	Use of Proceeds	  	 	92	 
	 8.11
	  	Financial Covenants	  	 	92	 
	 8.12
	  	Sanctions	  	 	93	 
	 8.13
	  	Anti-Corruption Laws	  	 	93	 

  
 ii 

							
	 Article IX EVENTS OF DEFAULT AND REMEDIES
	  	 	93	 
			
	 9.01
	  	Events of Default	  	 	93	 
	 9.02
	  	Remedies upon Event of Default	  	 	95	 
	 9.03
	  	Application of Funds	  	 	95	 
		
	 Article X AGENTS
	  	 	97	 
			
	 10.01
	  	Appointment and Authority	  	 	97	 
	 10.02
	  	Rights as a Lender	  	 	97	 
	 10.03
	  	Exculpatory Provisions	  	 	97	 
	 10.04
	  	Reliance by Agents	  	 	98	 
	 10.05
	  	Delegation of Duties	  	 	98	 
	 10.06
	  	Removal and Resignation of Agents	  	 	98	 
	 10.07
	  	Non-Reliance on Agents, Arrangers and Other Lenders	  	 	100	 
	 10.08
	  	No Other Duties; Etc.	  	 	100	 
	 10.09
	  	Agents May File Proofs of Claim	  	 	100	 
	 10.10
	  	Guaranty Matters	  	 	101	 
	 10.11
	  	Lender ERISA Representation	  	 	101	 
	 10.12
	  	Recovery of Erroneous Payments	  	 	102	 
		
	 Article XI MISCELLANEOUS
	  	 	102	 
			
	 11.01
	  	Amendments, Etc.	  	 	103	 
	 11.02
	  	Notices and Other Communications; Facsimile Copies	  	 	104	 
	 11.03
	  	No Waiver; Cumulative Remedies; Enforcement	  	 	106	 
	 11.04
	  	Attorney Costs and Expenses	  	 	107	 
	 11.05
	  	Indemnification by Timken	  	 	107	 
	 11.06
	  	Payments Set Aside	  	 	109	 
	 11.07
	  	Successors and Assigns	  	 	109	 
	 11.08
	  	Confidentiality	  	 	114	 
	 11.09
	  	Setoff	  	 	115	 
	 11.10
	  	Interest Rate Limitation	  	 	116	 
	 11.11
	  	[Reserved]	  	 	116	 
	 11.12
	  	Integration; Effectiveness	  	 	116	 
	 11.13
	  	Survival of Representations and Warranties	  	 	116	 
	 11.14
	  	Severability	  	 	116	 
	 11.15
	  	Tax Forms	  	 	117	 
	 11.16
	  	Replacement of Lenders	  	 	117	 
	 11.17
	  	Judgment	  	 	118	 
	 11.18
	  	Substitution of Currency	  	 	118	 
	 11.19
	  	Governing Law; Jurisdiction, Etc.	  	 	119	 
	 11.20
	  	Waiver of Trial by Jury	  	 	120	 
	 11.21
	  	No Advisory or Fiduciary Responsibility	  	 	120	 
	 11.22
	  	PATRIOT Act Notice	  	 	121	 
	 11.23
	  	Electronic Execution; Electronic Records; Counterparts	  	 	121	 
	 11.24
	  	Acknowledgement Regarding Any Supported QFCs	  	 	122	 
	 11.25
	  	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	  	 	123	 

  
 iii 

 SCHEDULES 
  

					
		  	I	  	Certain Timken Stockholders
		  	II	  	Existing Letters of Credit
		  	2.01	  	Commitments and Pro Rata Shares
		  	6.09	  	Environmental Matters
		  	6.11	  	Pension Plans
		  	6.13	  	Projected Financial Information
		  	8.01	  	Existing Liens
		  	8.08	  	Transactions with Affiliates
		  	11.02	  	Paying Agent’s Office, Certain Addresses for Notices

 EXHIBITS 
 Form of 

 

					
		  	A	  	Committed Loan Notice
		  	B	  	Swing Line Loan Notice
		  	C	  	Revolving Credit Note
		  	D	  	Compliance Certificate
		  	E	  	Assignment and Assumption
		  	F	  	Joinder Agreement
		  	G	  	Subsidiary Guaranty Agreement
		  	H	  	Timken Guaranty Agreement
		  	I	  	Designated Borrower Request and Assumption Agreement
		  	J	  	Designated Borrower Notice
		  	K	  	Term Note
		  	L	  	U.S. Tax Compliance Certificates

  

  
 iv 

 FIFTH AMENDED AND RESTATED 

CREDIT AGREEMENT 

This FIFTH AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is entered into as of December 5,
2022, among THE TIMKEN COMPANY, an Ohio corporation (“Timken”), any Subsidiary of Timken that becomes party hereto pursuant to Section 2.17 (each such Subsidiary, a “Designated Borrower”
and, together with Timken, the “Borrowers” and each a “Borrower”) BANK OF AMERICA, N.A. and KEYBANK NATIONAL ASSOCIATION, as Co-Administrative Agents, KEYBANK NATIONAL
ASSOCIATION, as Paying Agent, each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”) and KEYBANK NATIONAL ASSOCIATION, as L/C Issuer and Swing Line Lender and further
amends and restates that certain Fourth Amended and Restated Credit Agreement dated as of June 25, 2019 among Timken, certain financial institutions party thereto and Bank of America, N.A. and KeyBank National Association, as co-administrative agents (as amended by the First Amendment, dated as of May 27, 2020, the “Existing Credit Agreement”). 

PRELIMINARY STATEMENTS: 

1.        Timken has requested that the Existing Credit Agreement be amended and
restated to make certain modifications thereto. 
 2.        The Co-Administrative Agents and the Lenders are willing to amend and restate the Existing Credit Agreement, upon and subject to the terms and conditions set forth herein. 

In consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows:

 ARTICLE I 

DEFINITIONS AND ACCOUNTING TERMS 
  

	 	1.01	 Defined Terms. 

As used in this Agreement, the following terms have the meanings specified below: 

“Additional Credit Extension Amendment” means an amendment to this Agreement (which may, at the option of the
Co-Administrative Agents, be in the form of an amendment and restatement of this Agreement) providing for any Extended Commitments pursuant to Section 2.18, which shall be consistent
with the applicable provisions of this Agreement and otherwise reasonably satisfactory to the parties thereto. Each Additional Credit Extension Amendment shall be executed by the Co-Administrative Agents, the
L/C Issuer, and/or the Swing Line Lender (to the extent Section 2.18 would require the consent of the L/C Issuer and/or the Swing Line Lender, respectively, for the amendments effected in such Additional Credit Extension
Amendment), the applicable Loan Parties and the other parties specified in Section 2.18 (but not any other Lender). 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Paying Agent.

 “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK
Financial Institution. 

 “Affiliate” means, with respect to any Person, another
Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. “Control” means the possession, directly or indirectly, of the power to
direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto. Without limiting the generality of the foregoing, a Person shall be deemed to be Controlled by another Person if such other Person possesses, directly or indirectly, power to vote 10% or more of the securities having ordinary voting power
for the election of directors, managing general partners or the equivalent. 
 “Agents” means,
collectively, the Co-Administrative Agents and the Paying Agent. 

“Aggregate Commitments” means the Commitments of all the Lenders. 

“Aggregate Revolving Credit Commitments” means the Revolving Credit Commitments of all the Lenders. 

“Agreed Currency” means Dollars or any Committed Currency, as applicable. 

“Agreement” has the meaning specified in the preamble hereto. 

“Applicable Authority” means (a) with respect to Term SOFR, CME or any Governmental Authority having
jurisdiction over the Paying Agent or the SOFR Administrator with respect to its publication of SOFR, in each case acting in such capacity and (b) with respect to any Committed Currency, the applicable administrator for the Relevant Rate for
such Committed Currency or any Governmental Authority having jurisdiction over the Paying Agent or such administrator with respect to its publication of the applicable Relevant Rate, in each case acting in such capacity. 

“Applicable Rate” means, from time to time, the following percentages per annum, based upon the Debt Rating
as set forth below: 
  

															
	 Pricing

Level
	  	
Debt Ratings

S&P/Moody’s
	  	
Facility
 Fee
	  	
Applicable Rate for
 Term
SOFR Loans,
 Committed

Currency Daily
 Rate Loans
and
 Committed

Currency Term
 Rate
Loans
	  	 Letter of

Credit Fee
	  	
Applicable Rate for

Base Rate Loans

	  	 Revolving
Credit

Loans
	  	 Term

Loans
	  	 Revolving
Credit

Loans
	  	 Term

Loans

	
1
	  	A- /A3 or better	  	0.080%	  	0.795%	  	0.875%	  	0.795%	  	0.000%	  	0.000%
	
2
	  	BBB+/Baa1	  	0.100%	  	0.900%	  	1.000%	  	0.900%	  	0.000%	  	0.000%
	
3
	  	BBB/Baa2	  	0.125%	  	1.000%	  	1.125%	  	1.000%	  	0.000%	  	0.125%
	
4
	  	BBB-/Baa3	  	0.150%	  	1.100%	  	1.250%	  	1.100%	  	0.100%	  	0.250%
	
5
	  	BB+/Ba1 or worse	  	0.200%	  	1.425%	  	1.625%	  	1.425%	  	0.425%	  	0.625%

  
 2 

 For purposes hereof, “Debt Rating” means, as of any date of
determination, the rating as determined by either S&P or Moody’s (collectively, the “Debt Ratings”) of Timken’s non-credit-enhanced, senior unsecured long-term debt;
provided that (i) if the respective Debt Ratings issued by the foregoing rating agencies differ by one level, then the Pricing Level for the higher of such Debt Ratings shall apply (with the Debt Rating for Pricing Level 1 being the
highest and the Debt Rating for Pricing Level 5 being the lowest); (ii) if there is a split in Debt Ratings of more than one level, then the Pricing Level that is one level lower than the Pricing Level of the higher Debt Rating shall apply;
(iii) if Timken has only one Debt Rating, the Pricing Level that is one level lower than that of such Debt Rating shall apply; and (iv) if Timken does not have any Debt Rating, Pricing Level 5 shall apply. 

As of the Closing Date, the Applicable Rate shall be determined based upon Pricing Level 3 in the pricing grid set forth
above. Thereafter, each change in the Applicable Rate resulting from a publicly announced change in the Debt Rating shall be effective, in the case of either an upgrade or a downgrade, during the period commencing on the date of the public
announcement thereof and ending on the date immediately preceding the effective date of the next such change (and Timken shall promptly provide notice to the Paying Agent of any such publicly announced change in the Debt Rating). 

“Appropriate Lender” means, at any time, (a) with respect to the Revolving Credit Facility, the
Revolving Credit Lenders, (b) with respect to the Letter of Credit Sublimit, (i) the L/C Issuer and (ii) if any Letters of Credit have been issued, or have been deemed to have been issued, pursuant to
Section 2.03(a), the Revolving Credit Lenders, (c) with respect to the Swing Line Sublimit, (i) the Swing Line Lender and (ii) if any Swing Line Loans are outstanding pursuant to
Section 2.04(a), the Revolving Credit Lenders and (d) with respect to the Term Facility, the Term Lenders. 

“Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of
a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Arrangers” means, collectively, BofA Securities, KeyBanc Capital Markets Inc., JPMorgan Chase Bank, N.A. and
PNC Capital Markets LLC, each in its capacity as a joint lead arranger. 
 “Assignment and Assumption”
means an Assignment and Assumption substantially in the form of Exhibit E or any other form (including electronic documentation generated by use of an electronic platform) approved by the
Co-Administrative Agents and Timken. 
 “Attorney Costs” means and
includes all reasonable and documented fees, expenses and disbursements of any one law firm or other external counsel and, if reasonably necessary, a single external local counsel in each relevant jurisdiction and, solely in the case of a conflict
of interest, one additional counsel in each relevant jurisdiction. 
 “Attributable Indebtedness” means, on
any date, (a) in respect of any capital lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease
Obligation, the capitalized amount of the remaining lease payments under the relevant lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a capital lease.

 “Audited Financial Statements” means the audited consolidated balance sheet of Timken and its
Subsidiaries for the fiscal year ended December 31, 2021, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of Timken and its Subsidiaries, including the notes
thereto. 

  
 3 

 “Auto-Renewal Letter of Credit” has the meaning specified
in Section 2.03(b)(iii). 
 “Availability Period” means the period from and
including the Closing Date to the earliest of (a) the Maturity Date, (b) the date of termination of the Aggregate Revolving Credit Commitments pursuant to Section 2.06, and (c) the date of termination of the
commitment of each Lender to make Loans and of the obligation of the L/C Issuer to make L/C Credit Extensions pursuant to Section 9.02. 

“Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark for
any Agreed Currency, as applicable, (a) if such Benchmark is a term rate, any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an interest period pursuant to this Agreement or
(b) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated with reference to such Benchmark
pursuant to this Agreement, in each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant to
Section 3.03(b)(iv). 
 “Bail-In Action”
means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution. 

“Bail-In Legislation” means, (a) with respect to any EEA Member
Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, rule, regulation or requirement for such EEA Member Country from time to time which is described in
the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule
applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings). 

“Bank of America” means Bank of America, N.A. and its successors. 

“Bank of America Fee Letter” means the letter agreement, dated November 1, 2022, among Timken, Bank of
America and BofA Securities. 
 “Base Rate” means a rate of interest per annum equal to the greatest of
(a) the Prime Rate, (b) one-half of one percent (0.50%) in excess of the Federal Funds Rate and (c) Term SOFR plus 1.00%; and if Base Rate shall be less than zero, such rate shall
be deemed to be zero for purposes of this Agreement. Any change in the Base Rate shall be effective immediately from and after such change in the Base Rate. If the Base Rate is being used as an alternate rate of interest pursuant to
Section 3.03, then the Base Rate shall be the greater of clauses (a) and (b) above and shall be determined without reference to clause (c) above. 

“Base Rate Loan” means a Loan denominated in Dollars that bears interest based on the Base Rate. 

“Benchmark” means, initially, the applicable Relevant Rate; provided that if a Benchmark Transition
Event has occurred with respect to the applicable Relevant Rate or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate
pursuant to Section 3.03(b)(i). 
 “Benchmark Replacement” means, with respect to
any Benchmark Transition Event, (x) in the case of Dollars, the first alternative set forth in the order below that can be determined by the Paying Agent for the applicable Benchmark Replacement Date: 

  
 4 

 (a)        the sum
of (i) Daily Simple SOFR and (ii) the SOFR Adjustment; or 

(b)      the sum of: (i) the alternate benchmark rate that has been
selected by the Paying Agent and Timken giving due consideration to (A) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Applicable Authority or (B) any evolving or
then-prevailing market convention for determining a benchmark rate as a replacement to the then-current Benchmark for Dollar-denominated syndicated credit facilities at such time and (ii) the related Benchmark Replacement Adjustment; 

and (y) in the case of a Committed Currency, the sum of: (a) the alternate benchmark rate that has been selected by the Paying Agent
and Timken as the replacement for such Benchmark giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Applicable Authority or (ii) any evolving
or then-prevailing market convention for determining a benchmark rate as a replacement for such Benchmark for syndicated credit facilities denominated in the applicable Committed Currency at such time and (b) the related Benchmark Replacement
Adjustment. 
 If the Benchmark Replacement as determined pursuant to clauses (x) or (y) above would be less than zero, the Benchmark
Replacement will be deemed to be zero for the purposes of this Agreement and the other Loan Documents. 
 “Benchmark
Replacement Adjustment” means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a
positive or negative value or zero) that has been selected by the Paying Agent and Timken giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment,
for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Applicable Authority or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or
determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for Dollar-denominated syndicated credit facilities denominated in the applicable Agreed Currency at such time. 

“Benchmark Replacement Date” means a date and time determined by the Paying Agent, which date shall be no
later than the earliest to occur of the following events with respect to the then-current Benchmark for any Agreed Currency: 

(a)        in the case of clause (a) or (b) of the definition of
“Benchmark Transition Event,” the later of (i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator of such Benchmark (or the published component used in
the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); or 

(b)        in the case of clause (c) of the definition of
“Benchmark Transition Event,” the first date on which all Available Tenors of such Benchmark (or the published component used in the calculation thereof) have been determined and announced by the regulatory supervisor for the administrator
of such Benchmark (or such component thereof) to be non-representative; provided that such non-representativeness will be determined by reference to the most
recent statement or publication referenced in such clause (c) and even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date. 

  
 5 

 For the avoidance of doubt, the “Benchmark Replacement Date” will be deemed to
have occurred in the case of clause (a) or (b) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component
used in the calculation thereof). 
 “Benchmark Transition Event” means the occurrence of one or
more of the following events with respect to the then-current Benchmark for any Agreed Currency: 

(a)        a public statement or publication of information by or on
behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof),
permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); 

(b)        a public statement or publication of information by the
regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the Federal Reserve Board, the Federal Reserve Bank of New York, the central bank for the Agreed Currency applicable to such
Benchmark, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with
similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such
Benchmark (or such component thereof) permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such
component thereof); or 
 (c)        a public statement or
publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are not,
or as of a specified future date will not be, representative. 
 For the avoidance of doubt, a “Benchmark Transition Event” will
be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the
calculation thereof). 
 “Benchmark Transition Start Date” means, with respect to any Benchmark for any
Committed Currency, in the case of a Benchmark Transition Event, the earlier of (a) the applicable Benchmark Replacement Date and (b) if such Benchmark Transition Event is a public statement or publication of information of a prospective
event, the ninetieth (90th) day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than
ninety (90) days after such statement or publication, the date of such statement or publication). 
 “Benchmark
Unavailability Period” means, with respect to any then-current Benchmark for any Agreed Currency, the period (if any) (a) beginning at the time that a Benchmark Replacement Date with respect to such Benchmark has occurred if, at such
time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 3.03(b) and (b) ending at the time that a Benchmark Replacement
has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 3.03(b). 

  
 6 

 “Beneficial Ownership Certification” means a certification
regarding beneficial ownership required by the Beneficial Ownership Regulation. 
 “Beneficial Ownership
Regulation” means 31 C.F.R. § 1010.230. 
 “Benefit Plan” means any of (a) an
“employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA
Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”. 

“BofA Securities” means BofA Securities, Inc. and its successors. 

“Borrower” has the meaning specified in the introductory paragraph hereto. 

“Borrower Materials” has the meaning specified in Section 7.02. 

“Borrowing” means a Revolving Credit Borrowing, a Term Borrowing or a Swing Line Borrowing, as the context
may require. 
 “Borrowing Minimum” means, in respect of Term Loans and Revolving Credit Loans denominated
in Dollars, $5,000,000 (or, in connection with any conversion or continuation of a Term Loan, if less, the entire principal thereof then outstanding), and in respect of any Revolving Credit Loans denominated in any Committed Currency, the Equivalent
of $5,000,000. 
 “Borrowing Multiple” means, in respect of Term Loans and Revolving Credit Loans
denominated in Dollars, $1,000,000 (or, in connection with any conversion or continuation of a Term Loan, if less, the entire principal thereof then outstanding), and in respect of Revolving Credit Loans denominated in any Committed Currency, the
Equivalent of $1,000,000. 
 “Business Day” means any day other than a Saturday, Sunday or other day on
which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Paying Agent’s Office is located; provided, that: 

(a)        if such day relates to any interest rate settings as to a Committed
Currency Loan denominated in Euro, any fundings, disbursements, settlements and payments in Euro in respect of any such Committed Currency Loan, or any other dealings in Euro to be carried out pursuant to this Agreement in respect of any such
Committed Currency Loan, means a Business Day that is also a TARGET Day; 

(b)        if such day relates to any interest rate settings as to a Committed
Currency Loan denominated in (i) pounds sterling, means a day other than a day banks are closed for general business in London because such day is a Saturday, Sunday or a legal holiday under the laws of the United Kingdom; and
(ii) Japanese yen, means a day other than when banks are closed for general business in Japan; 

(c)        if such day relates to any interest rate settings as to a Committed
Currency Loan denominated in a currency other than, Euro, pounds sterling or Japanese yen, means any such day on which dealings in deposits in the relevant currency are conducted by and between banks in the applicable offshore interbank market for
such currency; and 
 (d)        if such day relates to any fundings, disbursements,
settlements and payments in a currency other than Euro in respect of a Committed Currency Loan denominated in a currency other than Euro, or 

  
 7 

 
any other dealings in any currency other than Euro to be carried out pursuant to this Agreement in respect of any such Committed Currency Loan (other than any interest rate settings), means any
such day on which banks are open for foreign exchange business in the principal financial center of the country of such currency. 

“Cash Collateralize” means to pledge and deposit with or deliver to the Paying Agent, for the benefit of one
or more of the L/C Issuer or the Lenders, as collateral for L/C Obligations or obligations of the Lenders to fund participations in respect of L/C Obligations, (a) cash or deposit account balances, (b) backstop letters of credit entered
into on terms and from issuers satisfactory to the Agents and the L/C Issuer and/or (c) if the Agents and the L/C Issuer shall agree in their sole discretion, other credit support, in each case pursuant to documentation in form and substance
satisfactory to the Agents and the L/C Issuer. “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. 

“Cash Equivalents” means any of the following types of Investments, to the extent owned by Timken or any of
its Subsidiaries free and clear of all Liens (other than Liens permitted hereunder): 

(a)        readily marketable obligations issued or directly and fully
Guaranteed or insured by the United States or any agency or instrumentality thereof having maturities of not more than 12 months from the date of acquisition thereof; provided that the full faith and credit of the United States is pledged in
support thereof; 
 (b)        readily marketable obligations issued
by the District of Columbia, any state of the United States or any political subdivision thereof (i) having maturities of not more than 12 months from the date of acquisition thereof, and having an investment grade rating from either S&P or
Moody’s (or the equivalent thereof); 
 (c)        time
deposits or repurchase agreements with, or insured certificates of deposit or bankers’ acceptances of, any commercial bank that (i) (A) is a Lender or (B) is organized under the laws of the United States, any state thereof or the
District of Columbia or is the principal banking subsidiary of a bank holding company organized under the laws of the United States, any state thereof or the District of Columbia, and is a member of the Federal Reserve System, (ii) issues (or
the parent of which issues) commercial paper rated as described in clause (d) of this definition and (iii) has combined capital and surplus of at least $250,000,000, in each case with maturities of not more than 12 months from the date of
acquisition thereof; 
 (d)        commercial paper or master notes
issued by any Person organized under the laws of any state of the United States and rated at least “Prime-2” (or the then equivalent grade) by Moody’s or at least
“A-2” (or the then equivalent grade) by S&P, in each case with maturities of not more than 6 months from the date of acquisition thereof; 

(e)        obligations issued by any Person organized under the laws
of any state of the United States (i) having maturities of not more than 12 months from the date of acquisition thereof and (ii) rated at least A by S&P and at least A2 by Moody’s; 

(f)        instruments with average maturities of 12 months or less
from the date of acquisition in mutual funds rated AAA- (or the equivalent thereof) or better by S&P or Aaa3 (or the equivalent thereof) or better by Moody’s; 

(g)        Investments, classified in accordance with GAAP as Current
Assets of Timken or any of its Subsidiaries, in money market investment programs registered under the Investment 

  
 8 

 
Company Act of 1940 which are administered by financial institutions having capital of at least $250,000,000 or its equivalent, and the portfolios of which are limited solely to Investments of
the character, quality and maturity described in clauses (a), (b), (c), (d),(e) and (f) of this definition; 

(h)        with respect to Foreign Subsidiaries, (i) the
approximate foreign equivalent of any of clauses (a) through (g) above and (ii) other short-term investments utilized by Foreign Subsidiaries and in accordance with normal investment practices for cash management in investments analogous
to the foregoing investments in clauses (a) through (g); and 

(i)        Investments in investment funds investing at least 90% of
their assets in securities of the types described in clauses (a) through (h) above. 
 “CDOR” has the
meaning specified in the definition of “Committed Currency Term Rate”.     
 “CDOR
Rate” has the meaning specified in the definition of “Committed Currency Term Rate”. 

“CFC” means a Person that is a controlled foreign corporation under Section 957 of the Code. 

“Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the
adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority or
(c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided, that, notwithstanding anything herein to the contrary, (x) the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith or in the implementation thereof and (y) all requests, rules, guidelines or directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case
be deemed to be a “Change in Law”, regardless of the date enacted, adopted, issued or implemented. 

“Change of Control” means an event or series of events by which: 

(a)        any “person” or “group” (as such terms
are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of Timken or its Subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator
of any such plan), other than those Persons listed on Schedule I and the heirs, administrators or executors of any such Persons and any trust established by or for the benefit of such Persons, becomes the “beneficial owner” (as
defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all
securities that such person or group has the right to acquire (such right, an “option right”), whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of 30% or more of the equity
securities of Timken entitled to vote for members of the board of directors or equivalent governing body of Timken on a fully-diluted basis (and taking into account all such securities that such person or group has the right to acquire pursuant to
any option right); or 
 (b)        during any period of 24
consecutive months, a majority of the members of the board of directors or other equivalent governing body of Timken cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such
period, (ii) whose election or nomination to that board or equivalent governing body was 

  
 9 

 
approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or
(iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that
board or equivalent governing body. 
 “Closing Date” means December 5, 2022. 

“CME” means CME Group Benchmark Administration Limited. 

“Co-Administrative Agent” means each of Bank of America (or any of
its designated branch offices or affiliates) and KeyBank in its capacity as a co-administrative agent under any of the Loan Documents, or any successor co-administrative
agent. 
 “Code” means the Internal Revenue Code of 1986. 

“Commitment” means a Term Commitment or a Revolving Credit Commitment, as the context may require. 

“Committed Currencies” means Canadian dollars, pounds sterling, Japanese yen, Euros and other freely
transferable currencies satisfactory to the Paying Agent and the Revolving Credit Lenders in their sole discretion; provided, that, for each Committed Currency, such requested currency is an Eligible Currency. 

“Committed Currency Daily Rate” means, for any day, with respect to any Credit Extension: 

(a)        denominated in pounds sterling, the rate per annum equal to
SONIA determined pursuant to the definition thereof for the day that is five (5) Business Days prior to such day plus the SONIA Adjustment; and 

(b)        denominated in any other Committed Currency (to the extent
such Loans denominated in such currency will bear interest at a daily rate), the daily rate per annum as designated with respect to such Committed Currency at the time such Committed Currency is approved by the Paying Agent and the relevant
Revolving Credit Lenders plus the adjustment (if any) determined by the Paying Agent and the Revolving Credit Lenders; 

provided, that, if any Committed Currency Daily Rate shall be less than zero, such rate shall be deemed to be zero for purposes
of this Agreement. Any change in a Committed Currency Daily Rate shall be effective from and including the date of such change without further notice. 

“Committed Currency Daily Rate Loan” means a Revolving Credit Loan that bears interest at a rate based on the
definition of “Committed Currency Daily Rate.” All Committed Currency Daily Rate Loans must be denominated in a Committed Currency. 

“Committed Currency Loan” means a Committed Currency Daily Rate Loan or a Committed Currency Term Rate Loan,
as applicable. 
 “Committed Currency Sublimit” means at any time an amount equal to the Aggregate
Revolving Credit Commitments. The Committed Currency Sublimit is part of, and not in addition to, the Revolving Credit Facility. 

  
 10 

 “Committed Currency Term Rate” means, for any Interest
Period, with respect to any Credit Extension: 

(a)        denominated in Euros, the rate per annum equal to the Euro
Interbank Offered Rate (“EURIBOR”), as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Paying Agent from time to time) on the day
that is two (2) TARGET Days preceding the first day of such Interest Period with a term equivalent to such Interest Period; 

(b)        denominated in Canadian dollars, the rate per annum equal
to the Canadian Dollar Offered Rate (“CDOR”), as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Paying Agent from time to time) (in
such case, the “CDOR Rate”) on the first day of such Interest Period (or if such day is not a Business Day, then on the immediately preceding Business Day) with a term equivalent to such Interest Period; 

(c)        denominated in Japanese yen, the rate per annum equal to
TIBOR determined pursuant to the definition thereof; and 

(d)        denominated in any other Committed Currency (to the extent
such Loans denominated in such currency will bear interest at a term rate), the term rate per annum as designated with respect to such Committed Currency at the time such Committed Currency is approved by the Paying Agent and the Revolving Credit
Lenders plus the adjustment (if any) determined by the Paying Agent and the Revolving Credit Lenders; 
 provided,
that, if any Committed Currency Term Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Committed Currency Term Rate Loan” means a Revolving Credit Loan that bears interest at a rate based on the
definition of “Committed Currency Term Rate.” All Committed Currency Term Rate Loans must be denominated in a Committed Currency. 

“Committed L/C Currency Sublimit” means an amount equal to the lesser of (a) $100,000,000 and (b) the
Aggregate Revolving Credit Commitments. The Committed L/C Currency Sublimit is part of, and not in addition to, the Letter of Credit Sublimit. 

“Committed Loan Notice” means a notice of (a) a Revolving Credit Borrowing, (b) a conversion of
Loans from one Type to the other, or (c) a continuation of Term SOFR Loans or Committed Currency Term Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit
A or such other form as may be approved by the Co-Administrative Agents (including any form on an electronic platform or electronic transmission system as shall be approved by the Co-Administrative Agents), appropriately completed and signed by a Responsible Officer of Timken. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), and any
successor statute, and any rules, regulations and orders applicable thereto. 
 “Communication” means this
Agreement, any Loan Document and any document, amendment, approval, consent, information, notice, certificate, request, statement, disclosure or authorization related to any Loan Document. 

“Compensation Period” has the meaning specified in Section 2.12(c)(ii). 

  
 11 

 “Compliance Certificate” means a certificate substantially
in the form of Exhibit D. 
 “Conforming Changes” means, with respect to either the use or
administration of an initial Benchmark or the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the
definition of “Business Day,” the definition of “U.S. Government Securities Business Day,” the definition of “Interest Period” or any similar or analogous definition (or the addition of a concept of “interest
period”), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of
Section 3.05 and other technical, administrative or operational matters) that the Paying Agent decides, in consultation with Timken, may be appropriate to reflect the adoption and implementation of any such rate or to
permit the use and administration thereof by the Paying Agent in a manner substantially consistent with market practice (or, if the Paying Agent decides, in consultation with Timken, that adoption of any portion of such market practice is not
administratively feasible or if the Paying Agent determines, in consultation with Timken, that no market practice for the administration of any such rate exists, in such other manner of administration as the Paying Agent decides, in consultation
with Timken, is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents). 

“Consolidated EBITDA” means, for any period, for Timken and its Subsidiaries on a consolidated basis, an
amount equal to Consolidated Net Income plus (a) the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest Charges for such period, (ii) the provision for federal, state, local
and foreign income taxes for such period, as determined in accordance with GAAP, (iii) depreciation and amortization expense, as determined in accordance with GAAP, (iv) other non-recurring charges
and expenses of Timken and its Subsidiaries reducing such Consolidated Net Income which do not represent a cash item in such period or any future period, (v) any losses realized upon the Disposition of assets outside the ordinary course of
business, as determined in accordance with GAAP, (vi) the aggregate amount of non-cash impairment, restructuring, reorganization, implementation, manufacturing rationalization and other special charges
for such period, and (vii) non-cash stock-based compensation expense for such period and minus (b) the sum of (i) all non-recurring material non-cash items increasing Consolidated Net Income for such period, (ii) any gains realized upon the Disposition of assets outside the ordinary course of business, as determined in accordance with GAAP, and
(iii) payments (net of expenses) received with respect to the United States - Continued Dumping and Subsidy Offset Act of 2000. For purposes of calculating the Consolidated Net Leverage Ratio (but, for the avoidance of doubt, not the
Consolidated Interest Coverage Ratio), Consolidated EBITDA shall be calculated on a Pro Forma Basis after giving effect to any Qualified Acquisitions and Qualified Dispositions for any applicable period. 

“Consolidated Funded Indebtedness” means, as of any date of determination, for Timken and its Subsidiaries on
a consolidated basis, the sum of (without duplication) (a) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including Obligations hereunder) and all obligations evidenced by bonds,
debentures, notes, loan agreements or other similar instruments (which amount, for the avoidance of doubt, includes only the drawn portion of any line of credit or revolving credit facility), (b) all purchase money Indebtedness, (c) all direct
obligations arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments (which amount, for the avoidance of doubt, includes only the drawn portion of any line
of credit or revolving credit facility), (d) all obligations in respect of the deferred purchase price of property or services (other than (i) trade accounts payable in the ordinary course of business and (ii) earn-outs, hold-backs and
other deferred payment of consideration in connection with Permitted Acquisitions to the extent not required to be reflected as liabilities on the balance sheet of Timken and its Subsidiaries in accordance with GAAP), (e) Attributable Indebtedness
in respect of capital leases and Synthetic Lease Obligations, (f) [reserved], (g) without duplication, all Guarantees with respect to outstanding Indebtedness (other than 

  
 12 

 
Indebtedness that is contingent in nature) of the types specified in clauses (a) through (f) above of Persons other than Timken or any Subsidiary, and (h) all Indebtedness of the types
referred to in clauses (a) through (g) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which Timken or a Subsidiary is a general partner or joint venturer,
unless such Indebtedness is expressly made non-recourse to Timken or such Subsidiary. 

“Consolidated Interest Charges” means, for any period, for Timken and its Subsidiaries on a consolidated
basis, the sum of all interest, premium payments, debt discount, fees, charges and related expenses of Timken and its Subsidiaries in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price
of assets, in each case to the extent treated as interest in accordance with GAAP, net of interest income in accordance with GAAP. 

“Consolidated Interest Coverage Ratio” means, as of any date of determination, the ratio of
(a) Consolidated EBITDA for the period of the four consecutive fiscal quarters most recently ended to (b) Consolidated Interest Charges for such period. 

“Consolidated Net Income” means, for any period, for Timken and its Subsidiaries on a consolidated basis, the
net income of Timken and its Subsidiaries (excluding extraordinary gains and extraordinary losses) for that period, as determined in accordance with GAAP. 

“Consolidated Net Leverage Ratio” means, as of any date of determination, the ratio of (a) the
difference of (i) Consolidated Funded Indebtedness as of such date minus (ii) Unrestricted Cash in excess of $25,000,000 as of such date to (b) Consolidated EBITDA for the period of the four consecutive fiscal quarters ended on
such date. The Consolidated Net Leverage Ratio shall be calculated on a Pro Forma Basis. 
 “Contractual
Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” has the meaning specified in the definition of “Affiliate.” 

“Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

 “Current Assets” means, with respect to any Person, all assets of such Person that, in accordance with
GAAP, would be classified as current assets on the balance sheet of a company conducting a business the same as or similar to that of such Person, after deducting appropriate and adequate reserves therefrom in each case in which a reserve is proper
in accordance with GAAP. 
 “Daily Simple SOFR” with respect to any applicable determination date means the
SOFR published on such date on the Federal Reserve Bank of New York’s website (or any successor source). 

“Debt Rating” has the meaning specified in the definition of “Applicable Rate.” 

“Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation,
conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in
effect and affecting the rights of creditors generally. 
 “Default” means any event or condition that
constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 

  
 13 

 “Default Rate” means an interest rate equal to (a) the
Applicable Rate, if any, applicable to Base Rate Loans plus (b) 2.0% per annum; provided, however, that with respect to Term SOFR Loans, Committed Currency Daily Rate Loans and Committed Currency Term Rate Loans, the Default Rate shall
be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2.0% per annum, in each case to the fullest extent permitted by applicable Laws. 

“Defaulting Lender” means, subject to Section 2.16(b), any Lender that (a) has
failed to (i) fund all or any portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Co-Administrative Agents
and Timken in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in
such writing) has not been satisfied, or (ii) pay to any Agent, the L/C Issuer, the Swing Line Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or
Swing Line Loans) within two (2) Business Days of the date when due, (b) has notified Timken, the Co-Administrative Agents, the L/C Issuer or the Swing Line Lender in writing that it does not intend
to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such
Lender’s determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within
three (3) Business Days after written request by any Agent or Timken, to confirm in writing to the Co-Administrative Agents and Timken that it will comply with its prospective funding obligations
hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Co-Administrative Agents and Timken),
or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for
the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity or
(iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Lender or any
direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Co-Administrative Agents that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and of the effective date of such status, shall be conclusive and binding
absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.16(b)) as of the date established therefor by the Co-Administrative Agents in a
written notice of such determination, which shall be delivered by the Co-Administrative Agents to Timken, the L/C Issuer, the Swing Line Lender and each other Lender promptly following such determination. 

“Designated Borrower” has the meaning specified in the introductory paragraph hereto. 

“Designated Borrower Notice” has the meaning specified in Section 2.17. 

“Designated Borrower Obligations” means with respect to a Designated Borrower, all advances to, and debts,
liabilities, obligations, covenants and duties of, such Designated Borrower arising under any Loan Document or otherwise, with respect to any Loan made to such Designated Borrower, whether direct or indirect (including those acquired by assumption),
absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against such Designated Borrower of any proceeding under any Debtor Relief Laws naming such

  
 14 

 
Designated Borrower as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. Without limiting the generality of the foregoing, the
Designated Borrower Obligations under the Loan Documents with respect to a Designated Borrower include (a) the obligation to pay principal, interest, charges, expenses, fees, attorneys’ fees and disbursements, indemnities and other amounts
payable by such Designated Borrower under any Loan Document and (b) the obligation of such Designated Borrower to reimburse any amount in respect of any of the foregoing that any Lender, in its sole discretion, may elect to pay or advance on
behalf of such Designated Borrower. The foregoing shall also include (a) all obligations under any Swap Contract between such Designated Borrower and any Swap Bank and (b) all obligations under any Treasury Management Agreement between
such Designated Borrower and any Treasury Management Bank. 
 “Designated Borrower Request and Assumption
Agreement” has the meaning specified in Section 2.17. 
 “Designated
Jurisdiction” means any country or territory to the extent that such country or territory itself is the subject of any Sanctions that broadly prohibit transactions or dealings with that country or territory (as of the Closing Date, the
Crimea Region of Ukraine, the so-called Donetsk People’s Republic or Luhansk People’s Republic regions of Ukraine, Cuba, Iran, North Korea and Syria). 

“Determination Date” has the meaning specified in Section 2.14(a). 

“Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (including
any sale and leaseback transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. 

“Dollar” and “$” mean lawful money of the United States. 

“Domestic Subsidiary” means any Subsidiary that is organized under the laws of any political subdivision of
the United States. 
 “EEA Financial Institution” means (a) any credit institution or investment firm
established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition,
or (c) any financial institution established in an EEA Member Country which is a Subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and
Norway. 
 “EEA Resolution Authority” means any public administrative authority or any Person entrusted
with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Electronic Copy” has the meaning specified in Section 11.23. 

“Electronic Record” and “Electronic Signature” shall have the meanings assigned to them,
respectively, by 15 USC §7006, as it may be amended from time to time. 

  
 15 

 “Eligible Assignee” means any Person that meets the
requirements to be an assignee under Section 11.07(b)(v) (subject to such consents, if any, as may be required under Section 11.07(b)(iii)). 

“Eligible Currency” means any lawful currency other than Dollars that is readily available, freely
transferable and convertible into Dollars in the international interbank market available to the Lenders or the L/C Issuer, as applicable, in such market and as to which an Equivalent in Dollars may be readily calculated. If, after the designation
by the Lenders or the L/C Issuer, as applicable, of any currency as a Committed Currency (or if, with respect to any currency that constitutes a Committed Currency on the Closing Date, after the Closing Date), any change in currency controls or
exchange regulations or any change in the national or international financial, political or economic conditions are imposed in the country in which such currency is issued, result in, in the reasonable opinion of the Paying Agent (in the case of any
Loans to be denominated in a Committed Currency) or the L/C Issuer (in the case of any Letter of Credit to be denominated in Committed Currency), (a) such currency no longer being readily available, freely transferable and convertible into Dollars,
(b) an Equivalent in Dollars is no longer readily calculable with respect to such currency, (c) providing such currency is impracticable for the Lenders or the L/C Issuer, as applicable, or (d) no longer a currency in which the
Required Lenders are willing to make such Credit Extensions (each of clauses (a), (b), (c), and (d) a “Disqualifying Event”), then the Paying Agent shall promptly notify the Lenders and Timken, and
such country’s currency shall no longer be a Committed Currency until such time as the Disqualifying Event(s) no longer exist(s). Within five (5) Business Days after receipt of such notice from the Paying Agent, the Borrowers shall repay
all Loans in such currency to which the Disqualifying Event applies or convert such Loans into the Equivalent of Loans in Dollars, subject to the other terms contained herein. 

“Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations,
ordinances, rules and binding judgments, orders, decrees, Environmental Permits and agreements or governmental restrictions relating to pollution and the protection of human health and safety (to the extent relating to exposure to hazardous
substances) or the environment or the release of any materials into the environment, including those related to releases of hazardous substances or wastes, air emissions and discharges to waste or public systems. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages,
costs of environmental remediation, fines, penalties or indemnities), of Timken, any other Loan Party or any of their respective Subsidiaries resulting from or based upon violation of any Environmental Law, or the release or threatened release of
any Hazardous Materials into the environment. 
 “Environmental Permit” means any permit, approval,
identification number, license or other authorization required under any Environmental Law. 
 “Equity
Interests” means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of
shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or
options for the purchase or acquisition from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or
nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any date of determination. 

“Equivalent” means (a) at any time, with respect to any amount denominated in Dollars, the equivalent
amount thereof in the applicable Committed Currency as determined by the Paying Agent or the L/C Issuer, as the case may be, by reference to Bloomberg (or such other publicly available service for 

  
 16 

 
displaying exchange rates), to be the exchange rate for the purchase of such Committed Currency with Dollars at approximately 11:00 a.m. on the date two (2) Business Days prior to the date
as of which the foreign exchange computation is made; provided, however, that if no such rate is available, the “Equivalent” shall be determined by the Paying Agent or the L/C Issuer, as the case may be, using any reasonable
method of determination it deems appropriate in its reasonable discretion (and such determination shall be conclusive absent manifest error), and (b) for any amount, at the time of determination thereof, (i) if such amount is expressed in
Dollars, such amount, (ii) if such amount is expressed in a Committed Currency, the equivalent of such amount in Dollars determined by using the rate of exchange for the purchase of Dollars with the Committed Currency last provided (either by
publication or otherwise provided to the Paying Agent or the L/C Issuer, as applicable) by the applicable Bloomberg source (or such other publicly available source for displaying exchange rates) on date that is two (2) Business Days immediately
preceding the date of determination (or if such service ceases to be available or ceases to provide such rate of exchange, the equivalent of such amount in Dollars as determined by the Paying Agent or the L/C Issuer, as applicable using any method
of determination it deems appropriate in its reasonable discretion) and (iii) if such amount is denominated in any other currency, the equivalent of such amount in Dollars as determined by the Paying Agent or the L/C Issuer, as applicable,
using any method of determination it deems appropriate in its reasonable discretion. Any determination by the Paying Agent or the L/C Issuer pursuant to clauses (b)(ii) or (b)(iii) above shall be conclusive absent demonstrable error. 

“ERISA” means the Employee Retirement Income Security Act of 1974, and the rules and regulations promulgated
thereunder. 
 “ERISA Affiliate” means any trade or business (whether or not incorporated) under common
control with Timken within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of
Timken or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a) (2) of ERISA or a cessation of operations
that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by Timken or any ERISA Affiliate from a Multiemployer Plan; (d) the filing of a notice of intent to terminate a Pension Plan or
the treatment of a Pension Plan amendment as a termination under Sections 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension Plan; (f) any event or condition which constitutes grounds under
Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan is considered an at-risk plan within the
meaning of Section 430 of the Code or Section 303 of ERISA; or (h) the imposition of any liability under Title IV of ERISA (including without limitation as a result of any prohibited transaction or violation of the fiduciary
responsibility rules with respect to any Plan), other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon Timken or any ERISA Affiliate. 

“EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 

“EURIBOR” has the meaning specified in the definition of “Committed Currency Term Rate”. 

“Euro” means the lawful currency of the European Union as constituted by the Treaty of Rome which established
the European Community, as such treaty may be amended from time to time and as referred to in the EMU legislation. 

“Event of Default” has the meaning specified in Section 9.01. 

  
 17 

 “Excluded Subsidiary” means, as of any date of
determination, (a) any direct or indirect Foreign Subsidiary (b) any direct or indirect Domestic Subsidiary all or substantially all of the assets of which consist of, directly or indirectly, the Equity Interests in or indebtedness of one
or more CFCs and (c) any direct or indirect Subsidiary of a Subsidiary that is a CFC. 
 “Excluded Swap
Obligation” means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the Subsidiary Guaranty Agreement of such Guarantor of such Swap Obligation (or any Guarantee thereof) is or becomes
illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to
constitute an “eligible contract participant” as defined in the Commodity Exchange Act (determined after giving effect to any and all guarantees of such Guarantor’s Swap Obligations by other Loan Parties) at the time the Subsidiary
Guaranty Agreement of such Guarantor becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a Master Agreement governing more than one Swap Contract, such exclusion shall apply to only the portion of such Swap
Obligation that is attributable to Swap Contracts for which such Subsidiary Guaranty Agreement is or becomes illegal. 

“Existing Credit Agreement” has the meaning specified in the preamble hereto. 

“Existing Letter of Credit” means each letter of credit listed on Schedule II. 

“Existing Term Loan Agreement” means that certain Credit Agreement, dated as of September 11, 2018,
among Timken, the lenders from time to time party thereto and KeyBank, as administrative agent, as amended, restated, supplemented or otherwise modified from time to time. 

“Extended Commitment” means any Revolving Credit Commitments the maturity of which shall have been extended
pursuant to Section 2.18. 
 “Extended Loans” means any Loans made pursuant to
the Extended Commitments. 
 “Extension” has the meaning specified in
Section 2.18(a). 
 “Extension Offer” has the meaning specified in
Section 2.18(a). 
 “Facility” means the Term Facility or the Revolving Credit
Facility, as the context may require. 
 “Facility Fee” has the meaning specified in
Section 2.09(a). 
 “FATCA” means Sections 1471 through 1474 of the Code, as of
the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any applicable agreements
entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such
Sections of the Code. 
 “Federal Funds Rate” means, for any day, the rate per annum calculated by the
Federal Reserve Bank of New York based on such day’s federal funds transactions by depository institutions (as determined in such manner as the Federal Reserve Bank of New York shall set forth on its public website from time to time) and
published on the next succeeding Business Day by the Federal Reserve Bank of New York as the federal funds effective rate; provided, that, if the Federal Funds Rate as so determined would be less than zero, such rate shall be deemed to
be zero for purposes of this Agreement. 

  
 18 

 “Foreign Lender” has the meaning specified in
Section 3.01(d)(ii)(B). 
 “Foreign Subsidiary” means any Subsidiary that is not
a Domestic Subsidiary. 
 “FRB” means the Board of Governors of the Federal Reserve System of the United
States. 
 “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to
the L/C Issuer, such Defaulting Lender’s Pro Rata Share of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash
Collateralized in accordance with the terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Pro Rata Share of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s
participation obligation has been reallocated to other Lenders in accordance with the terms hereof. 
 “Fully
Satisfied” means, with respect to the Obligations as of any date, that, as of such date, (a) all principal of and interest accrued to such date which constitute Obligations shall have been irrevocably paid in full in cash, (b) all
fees, expenses and other amounts then due and payable which constitute Obligations shall have been irrevocably paid in cash, (c) all outstanding Letters of Credit shall have been (i) terminated, (ii) fully irrevocably Cash Collateralized
or (iii) secured by one or more letters of credit on terms and conditions, and with one or more financial institutions, reasonably satisfactory to the L/C Issuer and (d) the Revolving Credit Commitments shall have expired or been
terminated in full. 
 “Fund” means any Person (other than a natural Person) that is (or will be) engaged
in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities. 

“GAAP” means generally accepted accounting principles in the United States set forth from time to time in the
opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or agencies with similar functions of comparable
stature and authority within the accounting profession) including, without limitation, the FASB Accounting Standards Codification, that are applicable to the circumstances as of the date of determination, or such other principles as may be approved
by a significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied and subject to Section 1.03. 

“Governmental Authority” means the government of the United States or any other nation, or of any political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including, without limitation, any supra-national bodies such as the European Union or the European Central Bank). 

“Granting Lender” has the meaning specified in Section 11.07(h). 

“Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of such Person
guaranteeing any Indebtedness payable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or
supply funds for the purchase or payment of) such Indebtedness, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness of the payment of such Indebtedness,
(iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness, or (iv) entered
into for the purpose of assuring in any other 

  
 19 

 
manner the obligee in respect of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of
such Person securing any Indebtedness of any other Person, whether or not such Indebtedness is assumed by such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Guarantee
shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated
liability in respect thereof as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Guarantors” means, (a) after the Springing Guaranty Date, collectively, the Material Subsidiaries of
Timken, if any, that execute and deliver a Subsidiary Guaranty Agreement pursuant to Section 7.12 and (b) with respect to the Designated Borrower Obligations, Timken. For purposes of clarification, the Receivables
Subsidiaries and any Excluded Subsidiary shall not be required to become Guarantors pursuant to Section 7.12. 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic
substances, wastes or other pollutants, as regulated pursuant to any Environmental Law, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls and radon gas. 

“Honor Date” has the meaning specified in Section 2.03(c)(i). 

“Indebtedness” means, as to any Person at a particular time, without duplication, all of the following,
whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a)   all
obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments (which amount, for the avoidance of doubt, includes only the drawn portion of any
line of credit or revolving credit facility); 
 (b)    all direct or contingent
obligations of such Person arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 

(c)    net obligations of such Person under any Swap Contract; 

(d)    all obligations of such Person to pay the deferred purchase price of property or
services (other than (i) trade accounts payable in the ordinary course of business and (ii) earn-outs, hold-backs and other deferred payment of consideration in connection with Permitted Acquisitions to the extent not required to be
reflected as liabilities on the balance sheet of Timken and its Subsidiaries in accordance with GAAP); 

(e)    indebtedness (excluding prepaid interest thereon) secured by a Lien on property
owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; 

(f)    Attributable Indebtedness in respect of capital leases and Synthetic Lease Obligations;

  
 20 

 (g)        all
obligations of such Person to mandatorily purchase, redeem, retire, defease or otherwise make any payment, in each case in cash, in respect of any Equity Interests in such Person or any other Person or any warrants, rights or options to acquire such
Equity Interests, valued, in the case of redeemable preferred interests, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; and 

(h)        all Guarantees of such Person in respect of any of the
foregoing. For the avoidance of doubt, a Guarantee of any obligation that is not Indebtedness shall not constitute Indebtedness. 

For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture
(other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, except to the extent that such Indebtedness is expressly made
non-recourse to such Person. The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. The amount of any capital lease or
Synthetic Lease Obligation as of any date shall be deemed to be the amount of Attributable Indebtedness in respect thereof as of such date. 

“Indemnitees” has the meaning specified in Section 11.05(a). 

“Information” has the meaning specified in Section 11.08. 

“Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan (including a Swing Line
Loan) or Committed Currency Daily Rate Loan, the last day of each Interest Period applicable to such Loan and the Maturity Date; provided, however, that if any Interest Period for a Term SOFR Loan or a Committed Currency Term Rate Loan
exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates; (b) as to any Base Rate Loan (including a Swing Line Loan), the last Business Day of each
March, June, September and December and the Maturity Date; and (c) as to any Committed Currency Daily Rate Loan, the last Business Day of each calendar month and the Maturity Date. 

“Interest Period” means, as to each Term SOFR Loan and Committed Currency Term Rate Loan, the period
commencing on the date such Term SOFR Loan or Committed Currency Term Rate Loan is disbursed or converted to or continued as a Term SOFR Loan or Committed Currency Term Rate Loan, as applicable, and ending on the date one, three or six months
thereafter (in each case, subject to availability for the interest rate applicable to the relevant currency), as selected by Timken in its Committed Loan Notice; provided that: 

(a)        any Interest Period that would otherwise end on a day that
is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; 

(b)        any Interest Period that begins on the last Business Day of
a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(c)        no Interest Period shall extend beyond the Maturity Date.

 “Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person,
whether by means of (a) the purchase or other acquisition of capital stock or other securities of 

  
 21 

 
another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in,
another Person, including any partnership or joint venture interest in such other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit or
all or a substantial part of the business of, such Person. For purposes of covenant compliance, the amount of any Investment shall be (i) the amount actually invested, without adjustment for subsequent increases or decreases in the value of
such Investment, minus (ii) the amount of dividends or distributions received in connection with such Investment and any return of capital or repayment of principal received in respect of such Investment that, in each case, is received in cash,
Cash Equivalents or short-term marketable debt securities. 
 “IRS” means the United States Internal
Revenue Service. 
 “ISP” means the International Standby Practices, International Chamber of Commerce
Publication No. 590 (or such later version thereof as may be in effect at the applicable time). 
 “Issuer
Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered into by the L/C Issuer and Timken (or any Subsidiary) or in favor of the L/C Issuer and with
respect to any such Letter of Credit. 
 “Joinder Agreement” means a joinder agreement substantially in the
form of Exhibit F executed by a direct or indirect Domestic Subsidiary in accordance with the provisions of Section 7.12. 

“JPMorgan Fee Letter” means the letter agreement, dated November 1, 2022, among Timken and JPMorgan
Chase Bank, N.A. 
 “KeyBank” means KeyBank National Association and its successors. 

“KeyBank Fee Letter” means the letter agreement, dated November 1, 2022, among Timken, KeyBank and
KeyBanc Capital Markets Inc. 
 “Laws” means, collectively, all international, foreign, Federal, state and
local statutes, treaties, rules, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement,
interpretation or administration thereof, and all applicable administrative orders, directed duties, licenses, authorizations and permits of, and agreements with, any Governmental Authority. 

“L/C Advance” means, with respect to each Lender, such Lender’s funding of its participation in any L/C
Borrowing in accordance with its Pro Rata Share. 
 “L/C Borrowing” means an extension of credit resulting
from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing. 

“L/C Credit Extension” means, with respect to any Letter of Credit, the issuance (or deemed issuance) thereof
or extension of the expiry date thereof, or the renewal or increase of the amount thereof. 
 “L/C Issuer”
means (a) KeyBank in its capacity as issuer of Letters of Credit hereunder and/or (b) any other Lender from time to time designated by Timken as an L/C Issuer with the consent of such Lender, in its sole discretion, and the Co-Administrative Agents (such consent not to be unreasonably withheld or delayed), in each case in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder. For
the purposes of the foregoing, the consent of the Co-Administrative Agents 

  
 22 

 
shall not be withheld if (i) the credit rating of KeyBank is unacceptable to the proposed beneficiary of a Letter of Credit or (ii) the credit rating of KeyBank could reasonably be
expected to result in additional material costs or expenses being paid, or additional material obligations being incurred, by Timken or any Subsidiary under or in connection with any Contractual Obligations to which the proposed beneficiary of a
Letter of Credit is a party. In the event that there is more than one L/C Issuer at any time, references herein and in the other Loan Documents to the L/C Issuer shall be deemed to refer to the L/C Issuer in respect of the applicable Letter of
Credit or to all L/C Issuers, as the context requires. 
 “L/C Obligations” means, as at any date of
determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For all purposes of this Agreement, if on any date of determination a
Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be
drawn. 
 “Lender” has the meaning specified in the introductory paragraph hereto and, as the context
requires, includes the L/C Issuer and the Swing Line Lender. 
 “Lender Party” means each Agent, each L/C
Issuer, the Swing Line Lender and each Lender. 
 “Lender Recipient Party” means each Lender, the Swing
Line Lender and each L/C Issuer. 
 “Lending Office” means, as to any Agent, any L/C Issuer or any Lender,
the office or offices of such Person described as such in such Person’s Administrative Questionnaire, or such other office or offices as a Person may from time to time notify Timken and the Paying Agent, which office may include any Affiliate
of such Person or any domestic or foreign branch of such Person or such Affiliate. Unless the context otherwise requires each reference to a Lender shall include its applicable Lending Office. 

“Letter of Credit” means any letter of credit issued hereunder, or deemed to have been issued hereunder,
including, without limitation, all Existing Letters of Credit. A Letter of Credit may be a commercial letter of credit or a standby letter of credit. 

“Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter
of Credit in the form from time to time in use by the L/C Issuer. 
 “Letter of Credit Expiration Date”
means the day that is seven (7) days prior to the Maturity Date then in effect (or, if such day is not a Business Day, the next succeeding Business Day). 

“Letter of Credit Fees” has the meaning specified in Section 2.03(h). 

“Letter of Credit Sublimit” means an amount equal to the lesser of (a) $100,000,000 and (b) the
Aggregate Revolving Credit Commitments. The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Credit Facility. As of the Closing Date, each L/C Issuer’s commitment in respect of the Letter of Credit Sublimit is set
forth on Schedule 2.01. 
 “Leverage Increase Notice” means a certificate of a Responsible Officer
of Timken (a) certifying that the applicable acquisition qualifies as a Qualified Acquisition and (b) notifying the Co-Administrative Agents that Timken has elected to increase the Consolidated Net
Leverage Ratio test level as set forth in the provisos to Section 8.11(a). 

  
 23 

 “Leverage Increase Period” means the four fiscal quarters
ended immediately following the consummation of a Qualified Acquisition. 
 “Lien” means any mortgage,
pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature
whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing).

 “Loan” means (a) with respect to Timken, an extension of credit by a Lender to Timken under Article
II in the form of a Revolving Credit Loan, a Term Loan or a Swing Line Loan and (b) with respect to any Designated Borrower, an extension of credit by a Lender to such Designated Borrower under Article II in the form of a Revolving Credit Loan.

 “Loan Documents” means, collectively, (a) this Agreement, (b) the Notes, (c) the
Subsidiary Guaranty Agreement, (d) the Timken Guaranty Agreement, (e) the Bank of America Fee Letter, (f) the KeyBank Fee Letter, (g) the JPMorgan Fee Letter, (h) the PNC Fee Letter; (i) each Letter of Credit
Application, (j) each Joinder Agreement and (k) the Designated Borrower Request and Assumption Agreement. 

“Loan Parties” means, collectively, Timken, the Designated Borrowers and, after the Springing Guaranty Date,
each Guarantor. 
 “Master Agreement” has the meaning set forth in the definition of “Swap
Contract.” 
 “Material Adverse Effect” means (a) a material adverse change in, or a material
adverse effect upon, the business or financial condition of Timken and its Subsidiaries taken as a whole, (b) a material adverse effect upon the rights and remedies of any Agent or any Lender under any Loan Document, or (c) a material
impairment of the ability of any Borrower to perform its payment obligations under any Loan Document to which it is a party. 

“Material Subsidiary” means each Domestic Subsidiary now existing or hereafter acquired or formed, and each
successor thereto, which, after giving pro forma effect to such acquisition or formation, or at any other time thereafter, (i) Timken and its other Subsidiaries’ Investments in such Domestic Subsidiary exceeds 5.0% of the total assets of
Timken and its Subsidiaries on a consolidated basis, (ii) Timken and its other Subsidiaries’ proportionate share of the total assets (after intercompany eliminations) of such Domestic Subsidiary exceeds 5.0% of the total assets of Timken
and its Subsidiaries on a consolidated basis, or (iii) Timken and its other Subsidiaries’ equity in the income from continuing operations before income taxes, extraordinary items and cumulative effect of a change in accounting principle of
such Domestic Subsidiary exceeds 5.0% of the income of Timken and its Subsidiaries on a consolidated basis, as of the last day of the most recently completed fiscal quarter of Timken with respect to which, pursuant to clauses (a) or (b) of
Section 7.01, financial statements have been, or are required to have been, delivered by Timken. 

“Maturity Date” means (a) with respect to the Revolving Credit Facility, the earlier of
(i) December 5, 2027 or with respect to some or all of the Lenders if such date is otherwise extended pursuant to Section 2.18, December 5, 2028 (subject to the limitations set forth in
Section 2.18) and (ii) the date of termination in whole of the Revolving Credit Commitments, the Letter of Credit Sublimit, and the Swing Line Sublimit pursuant to Section 2.06 or
9.02(b) and (b) with respect to the Term Facility, December 5, 2027; provided, 

  
 24 

 
however, that, in each case, if such date is not a Business Day, the Maturity Date shall be the next preceding Business Day. 

“Maximum Rate” has the meaning specified in Section 11.10. 

“Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral consisting of cash
or deposit account balances provided to reduce or eliminate Fronting Exposure during any period when a Lender constitutes a Defaulting Lender, an amount equal to 100% of the Fronting Exposure of the L/C Issuer with respect to Letters of Credit
issued and outstanding at such time, (ii) with respect to Cash Collateral consisting of cash or deposit account balances provided in accordance with the provisions of Section 2.15(a)(i) or (a)(ii), an amount
equal to 100% of the Outstanding Amount of all L/C Obligations, and (iii) otherwise, an amount determined by the Paying Agent and the L/C Issuer in their sole discretion. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 

“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of
ERISA, to which Timken or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 

“Multiple Employer Plan” means a plan described in Section 4064 of ERISA to which Timken or any ERISA
Affiliate is obligated to make contributions. 
 “Non-Consenting
Lender” means any Lender that does not approve any consent, waiver or amendment that requires the approval of all Lenders, all Revolving Credit Lenders or all affected Lenders in accordance with the terms of
Section 11.01 and is otherwise approved by the Required Lenders or Required Revolving Credit Lenders, as applicable. 

“Non-Defaulting Lender” means, at any time, each Lender that is not a
Defaulting Lender at such time. 
 “Non-Guarantor Subsidiary” means
any Subsidiary of Timken that is not a Guarantor. 
 “Nonrenewal Notice Date” has the meaning specified in
Section 2.03(b)(iii). 
 “Note” means a Revolving Credit Note or a Term Note, as
the context may require. 
 “Obligations” means all advances to, and debts, liabilities, obligations,
covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now
existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether
such interest and fees are allowed claims in such proceeding. Without limiting the generality of the foregoing, the Obligations of the Loan Parties under the Loan Documents include (a) the obligation to pay principal, interest, Letter of Credit
commissions, charges, expenses, fees, attorneys’ fees and disbursements, indemnities and other amounts payable by any Loan Party under any Loan Document and (b) the obligation of any Loan Party to reimburse any amount in respect of any of
the foregoing that any Lender, in its sole discretion, may elect to pay or advance on behalf of such Loan Party. The foregoing shall also include (a) all obligations under any Swap Contract between any Loan Party and any Swap Bank and
(b) all obligations under any Treasury Management Agreement between any Loan Party and any Treasury Management Bank; provided that the “Obligations” of a Guarantor shall exclude any Excluded Swap Obligations with respect to
such Guarantor. 

  
 25 

 “OFAC” means the Office of Foreign Assets Control of the
United States Department of the Treasury. 
 “Organization Documents” means, (a) with respect to any
corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited
liability company, the certificate or articles of formation or organization and operating agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other
applicable agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its
formation or organization and, if applicable, any certificate or articles of formation or organization of such entity. 

“Other Taxes” has the meaning specified in Section 3.01(b). 

“Outstanding Amount” means (i) with respect to Term Loans, Revolving Credit Loans and Swing Line Loans
on any date, the aggregate outstanding principal amount thereof (based on the Equivalent in Dollars at such time) after giving effect to any borrowings and prepayments or repayments of Term Loans, Revolving Credit Loans and Swing Line Loans, as the
case may be, occurring on such date; and (ii) with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the
aggregate amount of the L/C Obligations as of such date, including as a result of any reimbursements of outstanding unpaid drawings under any Letters of Credit or any reductions in the maximum amount available for drawing under Letters of Credit
taking effect on such date. 
 “Participant” has the meaning specified in
Section 11.07(d). 
 “Participant Register” has the meaning specified in
Section 11.07(d). 
 “PATRIOT Act” has the meaning specified in
Section 11.22. 
 “Paying Agent” means KeyBank in its capacity as a paying agent
under any of the Loan Documents, or any successor paying agent. 
 “Paying Agent’s Office” means the
Paying Agent’s address and, as appropriate, account as set forth on Schedule 11.02, or such other address or account as the Paying Agent may from time to time notify Timken and the Lenders. 

“Payment Office” means, for any Committed Currency, such office of KeyBank as shall be from time to time
selected by the Paying Agent and notified by the Paying Agent to Timken and the Lenders. 
 “PBGC” means
the Pension Benefit Guaranty Corporation. 
 “Pension Act” means the Pension Protection Act of 2006. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions
(including any installment payment thereof) to Pension Plans and set forth in Section 412, 430 and 436 of the Code and Sections 302 and 303 of ERISA. 

“Pension Plan” means any “employee pension benefit plan” (as such term is defined in
Section 3(2) of ERISA) (excluding a Multiple Employer Plan or a Multiemployer Plan) that is maintained or is 

  
 26 

 
contributed to by Timken and any ERISA Affiliate and is either covered by Title IV of ERISA or is subject to the Pension Funding Rules. 

“Permitted Acquisition” means any purchase or other acquisition of all of the Equity Interests in, or all or
substantially all of the property and assets of, any Person permitted by Section 8.02(i). 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association,
company, partnership, Governmental Authority or other entity. 
 “Plan” means any “employee benefit
plan,” within the meaning of Section 3(3) of ERISA (including a Pension Plan and excluding a Multiemployer Plan or a Multiple Employer Plan), maintained for employees of Timken or any ERISA Affiliate and to which Timken or any ERISA
Affiliate is required to contribute on behalf of any of its employees. 
 “Platform” has the meaning
specified in Section 7.02. 
 “PNC Fee Letter” means the letter agreement, dated
November 1, 2022, among Timken, PNC Bank, National Association and PNC Capital Markets LLC. 
 “Pre-Approved Accounting Firm” means any of the following: Ernst & Young LLP, PricewaterhouseCoopers LLP, Deloitte LLP or KPMG LLP. 

“Primary Currency” has the meaning specified in Section 11.17(c). 

“Prime Rate” means the interest rate established from time to time by the Paying Agent as the Paying
Agent’s prime rate, whether or not such rate is publicly announced. The Prime Rate may not be the lowest interest rate charged by the Paying Agent for commercial or other extensions of credit. Each change in the Prime Rate shall be effective
immediately from and after such change. 
 “Priority Debt” means, as of any date, the sum (without
duplication) of the (a) unsecured Indebtedness of the Non-Guarantor Subsidiaries of Timken (other than unsecured intercompany Indebtedness) and (b) secured Indebtedness of Timken and its
Subsidiaries. 
 “Pro Forma Basis” means, for purposes of calculating the Consolidated Net Leverage Ratio
(but, for the avoidance of doubt, not the Consolidated Interest Coverage Ratio), that any Qualified Dispositions or any Qualified Acquisitions shall be deemed to have occurred as of the first day of the most recent four consecutive fiscal quarter
period preceding the date of such transaction for which Timken has delivered financial statements pursuant to Section 7.01(a) or (b). In connection with the foregoing, (a) with respect to any Qualified
Disposition, income statement and cash flow statement items (whether positive or negative) attributable to the property Disposed of shall be excluded to the extent relating to any period occurring prior to the date of such transaction and
(b) with respect to any Qualified Acquisition income statement items (whether positive or negative) attributable to the Person or property acquired shall be included to the extent relating to any period applicable in such calculations to the
extent (i) such items are not otherwise included in such income statement items for Timken and its Subsidiaries in accordance with GAAP or in accordance with any defined terms set forth in Section 1.01 and
(ii) such items are supported by audited financial statements, if available, or such other information reasonably satisfactory to the Co-Administrative Agents. 

“Pro Rata Share” means (a) in respect of the Term Facility, with respect to any Term Lender at any time,
a fraction (expressed as a percentage, carried out to the ninth decimal place) of the Term Facility represented by (i) on or prior to the Closing Date, such Term Lender’s Term Commitment at such time and (ii) thereafter, the
outstanding principal amount of such Term Lender’s Term Loans at such time, and (b) 

  
 27 

 
in respect of the Revolving Credit Facility, with respect to each Revolving Credit Lender at any time, a fraction (expressed as a percentage, carried out to the ninth decimal place), the
numerator of which is the amount of the Revolving Credit Commitment of such Lender at such time and the denominator of which is the amount of the Aggregate Revolving Credit Commitments at such time; provided that if the commitment of each
Lender to make Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 9.02, then the Pro Rata Share of each Lender shall be determined based on the Pro Rata Share
of such Lender immediately prior to such termination and after giving effect to any subsequent assignments made pursuant to the terms hereof. The initial Pro Rata Share of each Lender in respect of each Facility is set forth opposite the name of
such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable. 

“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such
exemption may be amended from time to time. 
 “Public Lender” has the meaning specified in
Section 7.02. 
 “Qualified Acquisitions” means one or more acquisitions
consummated within a twelve-month period with an aggregate purchase price for all such acquisitions of at least $200,000,000. 

“Qualified Dispositions” means one or more Dispositions of any material Person, property, business or asset
within a twelve-month period with an aggregate purchase price for all such Dispositions of at least $200,000,000. 

“Receivables Facility” has the meaning specified in Section 8.05(g). 

“Receivables Subsidiary” has the meaning specified in Section 7.12(i). 

“Register” has the meaning specified in Section 11.07(c). 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners,
directors, officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. 

“Relevant Rate” means with respect to any Credit Extension denominated in (a) Dollars, Term SOFR,
(b) pounds sterling, SONIA, (c) Euros, EURIBOR, (d) Canadian dollars, the CDOR Rate, (e) Japanese yen, TIBOR, and (f) any other Committed Currency, the Committed Currency Daily Rate or Committed Currency Term Rate, as
applicable, selected for such Committed Currency in accordance with the terms hereof. 
 “Reportable Event”
means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30-day notice period has been waived. 

“Request for Credit Extension” means (a) with respect to a Borrowing, conversion or continuation of Term
Loans or Revolving Credit Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice. 

“Required Lenders” means, as of any date of determination, Lenders having more than 50% of the Total Credit
Exposures of the Total Credit Exposures of all Lenders; provided that, as set forth in Section 2.16, the unused Commitment of, and the portion of the Total Outstandings held, or deemed held by, any Defaulting Lender
shall be excluded for purposes of making a determination of Required Lenders. 

  
 28 

 “Required Revolving Credit Lenders” means, as of any date
of determination, Revolving Credit Lenders having more than 50% of the Revolving Credit Commitments or, if the Revolving Credit Commitments of each Revolving Credit Lender to make Revolving Credit Loans and the obligation of the L/C Issuer to make
L/C Credit Extensions have been terminated pursuant to Section 9.02, Revolving Credit Lenders holding in the aggregate more than 50% of the Outstanding Amount of Revolving Credit Loans of all Revolving Credit Lenders at such time and the
Outstanding Amount of all L/C Obligations and Swing Line Loans at such time; provided that, as set forth in Section 2.16, the unused Revolving Credit Commitment of, and the portion of the Outstanding Amount of Revolving
Credit Loans and L/C Obligations held, or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Credit Lenders. 

“Rescindable Amount” has the meaning as specified in Section 2.12(c)(ii). 

“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a
UK Resolution Authority. 
 “Responsible Officer” means the chief executive officer, president, chief
financial officer, vice president, corporate controller, treasurer, or assistant treasurer of a Loan Party and, with respect to certificates to be delivered pursuant to Section 5.01, notices to be delivered pursuant to
Section 7.03 and the requirements of Section 9.01, the general counsel or the secretary of Timken. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be
conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 

“Restricted” means, when referring to cash or Cash Equivalents of Timken or any of its Subsidiaries, that
such cash or Cash Equivalents (a) appear (or would be required to appear) as “restricted” on a consolidated balance sheet of Timken or of any such Subsidiary (unless such appearance is related to the Loan Documents or Liens created
thereunder), (b) are subject to any Lien in favor of any Person (other than the Co-Administrative Agents for the benefit of the Lenders) or (c) are not otherwise generally available for use by Timken or
such Subsidiary. 
 “Revolving Credit Borrowing” means a borrowing consisting of simultaneous Revolving
Credit Loans of the same Type and, in the case of Term SOFR Loans and Committed Currency Term Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01. 

“Revolving Credit Commitment” means as to each Lender, its obligation to (a) make Revolving Credit Loans
to Timken and/or any Designated Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal Dollar amount at any one
time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or in the Assignment and Assumption pursuant to which such Lender becomes a party
hereto, as applicable, as such Dollar amount may be adjusted from time to time in accordance with this Agreement. The Revolving Credit Commitments of all of the Revolving Credit Lenders on the Closing Date shall be $750,000,000. 

“Revolving Credit Facility” means, at any time, the aggregate amount of the Lenders’ Revolving Credit
Commitments at such time, including, for the avoidance of doubt, the aggregate amount of any Extended Commitments in connection with an Extension pursuant to Section 2.18. 

“Revolving Credit Lender” means, at any time, (a) so long as any Revolving Credit Commitment is in
effect, any Lender that has a Revolving Credit Commitment at such time or (b) if the Revolving Credit 

  
 29 

 
Commitments have terminated or expired, any Lender that has a Revolving Credit Loan or a participation in L/C Obligations or Swing Line Loans at such time. 

“Revolving Credit Loan” has the meaning specified in Section 2.01. 

“Revolving Credit Note” means a promissory note of any Borrower payable to any Lender, in substantially the
form of Exhibit C, evidencing the aggregate indebtedness of such Borrower to such Lender resulting from the Revolving Credit Loans made by such Lender. 

“S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global Inc.,
and any successor thereto. 
 “Same Day Funds” means (a) with respect to disbursements and payments in
Dollars, immediately available funds, and (b) with respect to disbursements and payments in a Committed Currency, same day or other funds as may be determined by the Paying Agent or the L/C Issuers, as the case may be, to be customary in the
place of disbursement or payment for the settlement of international banking transactions in the relevant Committed Currency. 

“Sanction(s)” means any economic or financial sanction or trade embargo (including export controls)
administered or enforced by the United States Government (including OFAC), the United Nations Security Council, the European Union, any member state of the European Union or His Majesty’s Treasury of the United Kingdom. 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its
principal functions. 
 “Senior Notes” means the Note Purchase Agreement, dated as of September 7,
2017, among Timken and the purchasers party thereto, and the notes issued thereunder. 
 “SOFR” means the
Secured Overnight Financing Rate as administered by the Federal Reserve Bank of New York (or a successor administrator). 

“SOFR Adjustment” means 0.10% (10.0 basis points). 

“Solvent” and “Solvency” mean, with respect to any Person, and its Subsidiaries on a
consolidated basis, on any date of determination, that on such date (a) the fair value of the property of such Person, and its Subsidiaries on a consolidated basis, is greater than the total amount of liabilities, including, without limitation,
contingent liabilities, of such Person, and its Subsidiaries on a consolidated basis, (b) the present fair salable value of the assets of such Person, and its Subsidiaries on a consolidated basis, is not less than the amount that will be
required to pay the probable liability of such Person, and its Subsidiaries on a consolidated basis, on its debts as they become absolute and matured, (c) such Person, and its Subsidiaries on a consolidated basis, does not intend to, and does
not believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature and (d) such Person, and its Subsidiaries on a consolidated basis, is not engaged in business or a
transaction, and is not about to engage in business or a transaction, for which the property of such Person, and its Subsidiaries on a consolidated basis, would constitute an unreasonably small capital. The amount of contingent liabilities at any
time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“SONIA” means, with respect to any loan denominated in pounds sterling, a rate per annum equal to the
Sterling Overnight Index Average for any day published by the SONIA Administrator on the SONIA 

  
 30 

 
Administrator’s Website; provided, however, that, if such determination date is not a Business Day, SONIA means such rate that applied on the first Business Day
immediately prior thereto, or (b) if no such rate is available for the relevant day, the rate per annum which is the Bank of England’s Bank Rate as published by the Bank of England for such date (or if such date is not a Business Day, the
Bank of England’s Bank Rate as published for the first Business Day immediately prior thereto). 
 “SONIA
Adjustment” means 0.0326% (3.26 basis points). 
 “SONIA Administrator” means the Bank of England
(or any successor administrator of the Sterling Overnight Index Average). 
 “SONIA Administrator’s
Website” means the Bank of England’s website, currently at http://www.bankofengland.co.uk, or any successor source for the Sterling Overnight Index Average identified as such by the SONIA Administrator from time to time. 

“SPC” has the meaning specified in Section 11.07(h). 

“Springing Guaranty Date” means the date upon which both the corporate credit rating of Timken is BB+ or less
(or not rated) by S&P and the corporate family rating of Timken is Ba1 or less (or not rated) by Moody’s. 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other
business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the
happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references
herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of Timken. 

“Subsidiary Guaranty Agreement” means the Subsidiary Guaranty Agreement made by the Guarantors (other than
Timken) in favor of the Co-Administrative Agents and the Lenders substantially in the form of Exhibit G. 

“Swap Bank” means (a) any Person that is a Lender or an Affiliate of a Lender at the time that it
becomes a party to a Swap Contract with any Loan Party and (b) any Lender or Affiliate of a Lender that is party to a Swap Contract with any Loan Party in existence on the Closing Date. 

“Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative
transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward
bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or
any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all
transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign
Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement. 

  
 31 

 “Swap Obligations” means with respect to any Guarantor any
obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act. 

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the
effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination
value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as
determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 

“Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to
Section 2.04. 
 “Swing Line Lender” means KeyBank in its capacity as provider of
Swing Line Loans, or any successor swing line lender hereunder. 
 “Swing Line Loan” has the meaning
specified in Section 2.04(a). 
 “Swing Line Loan Notice” means a notice of a
Swing Line Borrowing pursuant to Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit B or such other form as approved by the Co-Administrative
Agents (including any form on an electronic platform or electronic transmission system as shall be approve by the Co-Administrative Agents), appropriately completed and signed by a Responsible Officer of
Timken. 
 “Swing Line Sublimit” means an amount equal to the lesser of (a) $50,000,000 and (b) the
Aggregate Revolving Credit Commitments. The Swing Line Sublimit is part of, and not in addition to, the Revolving Credit Facility. As of the Closing Date, the Swing Line Sublimit is set forth on Schedule 2.01. 

“Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the
balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the Indebtedness of such Person (without regard to accounting treatment). 

“TARGET2” means the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which
utilizes a single shared platform and which was launched on November 19, 2007. 
 “TARGET Day” means
any day on which TARGET2 (or, if such payment system ceases to be operative, such other payment system, if any, determined by the Paying Agent to be a suitable replacement) is open for the settlement of payments in Euro. 

“Taxes” has the meaning specified in Section 3.01(a). 

“Term Borrowing” means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of
Term SOFR Loans, having the same Interest Period made by each of the Term Lenders pursuant to Section 2.01(a). 

“Term Commitment” means, as to each Term Lender, its obligation to make Term Loans to Timken pursuant to
Section 2.01(a) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Term Lender’s name on Schedule 2.01 under the caption “Term

  
 32 

 
Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Term Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to
time in accordance with this Agreement. The Term Commitment of all of the Term Lenders on the Closing Date shall be $400,000,000. 

“Term Facility” means, at any time, (a) on or prior to the Closing Date, the aggregate amount of the
Term Commitments at such time and (b) thereafter, the aggregate principal amount of the Term Loans of all Term Lenders outstanding at such time. 

“Term Lender” means (a) at any time on or prior to the Closing Date, any Lender that has a Term
Commitment at such time and (b) at any time after the Closing Date, any Lender that holds Term Loans at such time. 

“Term Loan” means an advance made by any Term Lender under the Term Facility. 

“Term Note” means a promissory note made by Timken in favor of a Term Lender evidencing Term Loans made by
such Term Lender, substantially in the form of Exhibit K. 
 “Term SOFR” means:

 (a)        for any Interest Period with respect to a Term SOFR Loan, the rate per
annum equal to the Term SOFR Screen Rate two (2) U.S. Government Securities Business Days prior to the commencement of such Interest Period with a term equivalent to such Interest Period; provided, that, if the rate is not
published prior to 11:00 a.m. on such determination date then Term SOFR means the Term SOFR Screen Rate on the first (1st) U.S. Government Securities Business Day immediately prior thereto, in
each case, plus the SOFR Adjustment for such Interest Period; and 

(b)        for any interest calculation with respect to a Base Rate Loan on any date,
the rate per annum equal to the Term SOFR Screen Rate with a term of one month commencing that day; 
 provided, that, if the
Term SOFR determined in accordance with either of the foregoing provisions (a) or (b) of this definition would otherwise be less than zero, the Term SOFR shall be deemed to be zero for purposes of this Agreement. 

“Term SOFR Loan” means a Loan that bears interest at a rate based on clause (a) of the definition of
Term SOFR. 
 “Term SOFR Screen Rate” means the forward-looking SOFR term rate administered by CME (or any
successor administrator satisfactory to the Paying Agent) and published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Paying Agent from time to time). 

“Threshold Amount” means $80,000,000. 

“TIBOR” means, with respect to any loan denominated in Japanese yen and for any interest period, the TIBOR
Screen Rate at approximately 11:00 a.m., Japan time, two (2) Business Days prior to the commencement of such Interest Period. 

“TIBOR Screen Rate” means, for any Interest Period, the Tokyo interbank offered rate administered by the
Ippan Shadan Hojin JBA TIBOR Administration (or any other person which takes over the administration of that rate) for the relevant currency and period displayed on page DTIBOR01 of the 

  
 33 

 
Refinitiv Japan K.K. screen (or, in the event such rate does not appear on such Refinitiv Japan K.K. page or screen, on any successor or substitute page on such screen that displays such rate, or
on the appropriate page of such other information service that publishes such rate as selected by the Paying Agent from time to time in its reasonable discretion) as of 11:00 a.m. Japan time two (2) Business Days prior to the commencement of
such Interest Period. 
 “Timken” has the meaning specified in the introductory paragraph. 

“Timken Guaranty Agreement” means the Guaranty Agreement made by Timken in favor of the Co-Administrative Agents and the Lenders substantially in the form of Exhibit H. 

“Total Credit Exposure” means, as to any Lender at any time, the unused Commitments, the Outstanding Amount
of Revolving Credit Loans of such Lender at such time, such Lender’s Pro Rata Share of the Outstanding Amount of L/C Obligations and Swing Line Loans at such time and the Outstanding Amount of all Term Loans of such Lender at such time. 

“Total Outstandings” means the aggregate Outstanding Amount of all Loans and all L/C Obligations. 

“Total Revolving Credit Outstandings” means the aggregate Outstanding Amount of all Revolving Credit Loans,
Swing Line Loans and L/C Obligations. 
 “Treasury Management Agreement” means any agreement governing the
provision of treasury or cash management services, including deposit accounts, overdraft, credit or debit card, funds transfer, automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account
reconciliation and reporting and trade finance services and other cash management services. 
 “Treasury Management
Bank” means (a) any Person that is a Lender or an Affiliate of a Lender at the time that it becomes a party to a Treasury Management Agreement with any Loan Party and (b) any Lender or Affiliate of a Lender that is a party to a
Treasury Management Agreement with any Loan Party in existence on the Closing Date. 
 “Type” means, with
respect to a Loan, its character as a Base Rate Loan, a Term SOFR Loan, a Committed Currency Daily Rate Loan or a Committed Currency Term Rate Loan. 

“UCP” means, with respect to any Letter of Credit, the Uniform Customs and Practice for Documentary Credits,
International Chamber of Commerce (“ICC”) Publication No. 600 (or such later version thereof as may be in effect at the time of issuance). 

“UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as
amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person subject to IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which
includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. 

“UK Resolution Authority” means the Bank of England or any other public administrative authority having
responsibility for the resolution of any UK Financial Institution. 
 “Unadjusted Benchmark Replacement”
means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment. 

  
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 “United States” and “U.S.” mean the United
States of America. 
 “Unreimbursed Amount” has the meaning specified in
Section 2.03(c)(i). 
 “Unrestricted Cash” means, as of any date of
determination, the aggregate amount (without duplication) of cash and Cash Equivalents of Timken and its Subsidiaries that are not Restricted to the extent the same would be reflected on a consolidated balance sheet of Timken if the same were
prepared as of such date. 
 “U.S. Government Securities Business Day” means any Business Day, except any
Business Day on which any of the Securities Industry and Financial Markets Association, the New York Stock Exchange or the Federal Reserve Bank of New York is not open for business because such day is a legal holiday under the federal laws of the
United States or the laws of the State of New York, as applicable. 
 “U.S. Person” means any Person that
is a “United States person” as defined in Section 7701(a)(30) of the Code. 
 “Write-Down and
Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation
for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable
Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises,
to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any
obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers. 

 

	 	1.02	 Other Interpretive Provisions. 

With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan
Document: 
 (a)        The meanings of defined terms are equally
applicable to the singular and plural forms of the defined terms. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. 

(b)        (i)        The
words “herein,” “hereto,” “hereof” and “hereunder” and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision thereof. 

(ii)     Article, Section, Exhibit and Schedule references are to the Loan Document
in which such reference appears. 
 (iii)      The term “including”
is by way of example and not limitation. 
 (iv)     The term
“documents” includes any and all instruments, documents, agreements, certificates, notices, reports, financial statements and other writings, however evidenced, whether in physical or electronic form. 

  
 35 

 (v)     Any reference herein to
any Person shall be construed to include such Person’s successors and assigns. 

(c)        In the computation of periods of time from a specified date
to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.”

 (d)        Any reference herein to a merger, transfer,
consolidation, amalgamation, assignment, sale or disposition, or similar term, shall be deemed to apply to a division of or by a limited liability company, or an allocation of assets to a series of a limited liability company (or the unwinding of
such a division or allocation), as if it were a merger, transfer, consolidation, amalgamation, assignment, sale or disposition, or similar term, as applicable, to, of or with a separate Person. Any division of a limited liability company shall
constitute a separate Person hereunder (and each division of any limited liability company that is a Subsidiary, joint venture or any other like term shall also constitute such a Person or entity). 

(e)        Section headings herein and in the other Loan Documents are
included for convenience of reference only and shall not affect the interpretation of this Agreement or any other Loan Document. 
  

	 	1.03	 Accounting Terms. 

(a)        All accounting terms not specifically or completely defined
herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent
basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining
compliance with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of Timken and its Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of
FASB ASC 825 on financial liabilities shall be disregarded. 

(b)        If at any time any change in GAAP would affect the
computation of any financial ratio or requirement set forth in any Loan Document, and either Timken or the Required Lenders shall so request, the Co-Administrative Agents, the Lenders and Timken shall
negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or
requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) Timken shall provide to the Co-Administrative Agents and the Lenders financial statements and other
documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. Without limiting the foregoing,
leases shall continue to be classified and accounted for on a basis consistent with that reflected in the Audited Financial Statements for all purposes of this Agreement, notwithstanding any change in GAAP relating thereto, unless the parties hereto
shall enter into a mutually acceptable amendment addressing such changes, as provided for above. 

(c)    All obligations of any Person that were or would have been characterized as
operating lease obligations in accordance with GAAP on or prior to December 31, 2018 (whether or not such operating lease obligations were in effect on such date) shall be or continue to be, as 

  
 36 

 
applicable, accounted for as operating lease obligations (and not as capitalized lease obligations) for purposes of this Agreement regardless of any change in GAAP since December 31, 2018
that would otherwise require such obligations to be recharacterized (on a prospective or retroactive basis or otherwise) as capitalized lease obligations. 
  

	 	1.04	 Rounding. 

Any financial ratios required to be maintained by Timken pursuant to this Agreement shall be calculated by dividing the
appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a
rounding-up if there is no nearest number). 
  

	 	1.05	 References to Agreements and Laws. 

Unless otherwise expressly provided herein, (a) references to Organization Documents, agreements (including the Loan
Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions,
supplements and other modifications are not prohibited by any Loan Document; and (b) references to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Law. 

 

	 	1.06	 Times of Day. 

Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or standard,
as applicable). 
  

	 	1.07	 Letter of Credit Amounts. 

Unless otherwise specified, the amount of a Letter of Credit at any time shall be deemed to be the Equivalent in Dollars of
the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic
increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the Equivalent in Dollars of the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum
stated amount is in effect at such time. 
  

	 	1.08	 Currency Equivalents Generally. 

Any amount specified in this Agreement (other than in Articles II, X and XI) or any of the other Loan
Documents to be in Dollars shall also include the equivalent of such amount in any currency other than Dollars, such equivalent amount to be determined at the rate of exchange quoted by the Paying Agent in its principal office at the close of
business on the Business Day immediately preceding any date of determination thereof, to prime banks in New York, New York for the spot purchase in the New York foreign exchange market of such amount in Dollars with such other currency. 

 

	 	1.09	 Interest Rates. 

Neither Agent warrants or accepts responsibility for, nor shall either Agent have any liability in its capacity as Agent with
respect to, the administration, submission or any other matter related to any reference rate referred to herein or with respect to any rate (including, for the avoidance of doubt, the selection of such rate and any related spread or other
adjustment) that is an alternative or replacement for or successor 

  
 37 

 
to any such rate (including, without limitation, any Benchmark Replacement) (or any component of any of the foregoing) or the effect of any of the foregoing, or the effect, implementation or
composition of any Conforming Changes. Each Agent and its respective affiliates or other related entities may engage in transactions or other activities that affect the calculation of any reference rate referred to herein, or any alternative,
successor or replacement rate (including, without limitation, any Benchmark Replacement) (or any component of any of the foregoing) or any related spread or other adjustments thereto, in each case, in a manner adverse to the Borrowers. Each
Agent may select information sources or services in its reasonable discretion to ascertain any reference rate referred to herein or any alternative, successor or replacement rate (including, without limitation, any Benchmark Replacement) (or
any component of any of the foregoing), in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrowers, any Lender or any other person or entity for damages of any kind, including direct or indirect, special,
punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or other action or omission related to or affecting the selection, determination, or
calculation of any rate (or component thereof) provided by any such information source or service. 
 ARTICLE II 

THE COMMITMENTS AND CREDIT EXTENSIONS 
  

	 	2.01	 The Loans. 

(a)        Term Borrowing. Subject to the terms and conditions
set forth herein, each Term Lender severally agrees to make a single loan to Timken, in Dollars, on the Closing Date in an amount not to exceed such Term Lender’s Pro Rata Share of the Term Facility. The Term Borrowing shall consist of Term
Loans made simultaneously by the Term Lenders in accordance with their respective Pro Rata Share of the Term Facility. Term Borrowings repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Term SOFR Loans, as further provided
herein. 
 (b)        Revolving Credit Borrowings. Subject to
the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Revolving Credit Loan”) to each Borrower from time to time, on any Business Day during the Availability Period, in an
aggregate principal amount (based in respect of any Revolving Credit Loans to be denominated in a Committed Currency by reference to the Equivalent thereof in Dollars determined on the date of delivery of the applicable Committed Loan Notice) not to
exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings shall not
exceed the Aggregate Revolving Credit Commitments, (ii) the aggregate Outstanding Amount of all Revolving Credit Loans denominated in a Committed Currency shall not exceed the Committed Currency Sublimit and (iii) the aggregate Outstanding
Amount of the Revolving Credit Loans of any Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans shall not exceed
such Lender’s Revolving Credit Commitment. Within the limits of each Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01(b),
prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Credit Loans may be Base Rate Loans, Term SOFR Loans, Committed Currency Daily Rate Loans or Committed Currency Term
Rate Loans, as further provided herein. 
  

	 	2.02	 Borrowings, Conversions and Continuations of Loans. 

  
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 (a)        Each
Borrowing, each conversion of Loans from one Type to the other, and each continuation of Term SOFR Loans or Committed Currency Term Rate Loans shall be made upon Timken’s irrevocable notice to the Paying Agent, which may be given by telephone.
Each such notice must be received by the Paying Agent not later than (i) 11:00 a.m. two (2) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Term SOFR Loans, (ii) 4:00 p.m. four (4) Business
Days prior to the requested date of any Revolving Credit Borrowing consisting of Committed Currency Loans or any continuation of Committed Currency Loans, and (iii) 11:00 a.m. on the requested date of any Borrowing of Base Rate Loans. Each
telephonic notice by Timken pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Paying Agent of a written Committed Loan Notice, appropriately completed and signed by a Responsible Officer of
Timken. Each Borrowing of, conversion to or continuation (if applicable) of Term SOFR Loans, Committed Currency Daily Rate Loans or Committed Currency Term Rate Loans shall be in a principal amount of not less than the Borrowing Minimum or the
Borrowing Multiple in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of not less than the Borrowing Minimum or the Borrowing
Multiple in excess thereof. Each Committed Loan Notice (whether telephonic or written) shall specify (i) the applicable facility and whether Timken is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation
of Term SOFR Loans or Committed Currency Term Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or
continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted, (v) if such Borrowing is a Revolving Credit Borrowing, the currency of such Borrowing, which shall be Dollars or a Committed Currency,
(vi) if applicable, the duration of the Interest Period with respect thereto and (vii) whether the recipient of the Loan is Timken or a specified Designated Borrower. If Timken fails to specify a Type of Loan in a Committed Loan Notice or
if Timken fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made as, or converted to, Base Rate Loans; provided, however, that in the case of a failure to timely request a
continuation of Committed Currency Term Rate Loans, such Loans shall be continued as Committed Currency Term Rate Loans in their original currency with an Interest Period of one (1) month. Any such automatic conversion to Base Rate Loans shall
be effective as of the last day of the Interest Period then in effect with respect to the applicable Term SOFR Loans. If Timken requests a Borrowing of, conversion to, or continuation of Term SOFR Loans or Committed Currency Term Rate Loans in any
such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. 

(b)        Following receipt of a Committed Loan Notice, the Paying
Agent shall promptly notify each Lender of the amount of its Pro Rata Share of the applicable Loans, and if no timely notice of a conversion or continuation is provided by Timken, the Paying Agent shall notify each Lender of the details of any
automatic conversion to Base Rate Loans described in Section 2.02(a). In the case of a Borrowing (other than a Swing Line Borrowing), each Appropriate Lender shall make the amount of its Loan available to the Paying Agent
in immediately available funds at the Paying Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Committed Loan Notice, in the case of a Borrowing (other than a Swing Line Borrowing) consisting of Loans
denominated in Dollars, and before 5:00 p.m. on the date of such Borrowing that is a Revolving Credit Borrowing consisting of Committed Currency Loans. Upon satisfaction of the applicable conditions set forth in
Section 5.02 (and, if such Borrowing is the initial Credit Extension, Section 5.01), the Paying Agent shall make all funds so received available to the applicable Borrower in like funds as received
by the Paying Agent either by (i) crediting the account of such Borrower on the books of KeyBank with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to the Paying Agent
by such 

  
 39 

 
Borrower; provided, however, that if, on the date a Committed Loan Notice with respect to a Borrowing denominated in Dollars is given by Timken, there are Swing Line Loans or L/C
Borrowings outstanding, then the proceeds of such Borrowing shall be applied, first, to the payment in full of any such L/C Borrowings, second, to the payment in full of any such Swing Line Loans, and third, to the applicable Borrower
as provided above. 
 (c)        Except as otherwise provided
herein, a Term SOFR Loan or a Committed Currency Term Rate Loan may be continued or converted only on the last day of an Interest Period for such Term SOFR Loan or Committed Currency Term Rate Loan, as applicable. 

(d)        The Paying Agent shall (i) promptly notify Timken and
the Lenders of the interest rate applicable to any Interest Period for Term SOFR Loans and Committed Currency Term Rate Loans upon determination of such interest rate and (ii) notify Timken approximately ten (10) Business Days prior to
each Interest Payment Date of the aggregate amount that is, or is scheduled to become, payable in respect of each Committed Currency Daily Rate Loan on any Interest Payment Date, along with details of each applicable Committed Currency Daily Rate
used to calculate such aggregate amount. Each determination of an interest rate by the Paying Agent pursuant to any provision of this Agreement shall be conclusive and binding on the Borrowers and the Lenders in the absence of manifest error. 

(e)        After giving effect to all Term Borrowings, all conversions
of Term Loans from one Type to the other, and all continuations of Term Loans as the same Type, there shall not be more than ten Interest Periods in effect in respect of the Term Facility. After giving effect to all Revolving Credit Borrowings, all
conversions of Revolving Credit Loans from one Type to the other, and all continuations of Revolving Credit Loans as the same Type, there shall not be more than ten Interest Periods in effect in respect of the Revolving Credit Facility. 

(f)        The failure of any Lender to make the Loan to be made by it
as part of any Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its Loan on the date of such Borrowing, but no Lender shall be responsible for the failure of any other Lender to make the Loan to be made by
such other Lender on the date of any Borrowing. 
 (g)        Timken
may at any time and from time to time, upon prior written notice by Timken to the Co-Administrative Agents, increase the Aggregate Revolving Credit Commitments (but, unless otherwise agreed, not the Committed
L/C Currency Sublimit or the Committed Currency Sublimit) by up to $500,000,000 with additional Revolving Credit Commitments from any existing Lender or new Revolving Credit Commitments from any other Person selected by Timken and approved by the Co-Administrative Agents (such approval not to be unreasonably withheld); provided that: 

(i)    any such increase shall be in a minimum principal amount of $10,000,000 and in
integral multiples of $5,000,000 in excess thereof; 
 (ii)    no Default or Event of
Default shall exist and be continuing at the time of any such increase; 
 (iii)    no
existing Lender shall be under any obligation to increase its Revolving Credit Commitment and any such decision whether to increase its Revolving Credit Commitment shall be in such Lender’s sole and absolute discretion; 

  
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 (iv)    any new Lender shall join this
Agreement by executing such joinder documents required by the Co-Administrative Agents; and 

(v)    as a condition precedent to such increase, Timken shall deliver to the Co-Administrative Agents a certificate of each Borrower and, following the Springing Guaranty Date, each Guarantor dated as of the date of such increase signed by a Responsible Officer of such party
(A) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and (B) in the case of the Borrowers, certifying that, before and after giving effect to such increase, (1) the
representations and warranties contained in Article VI and the other Loan Documents are true and correct in all material respects (except for any representation and warranty that is qualified by materiality or reference to Material Adverse
Effect, which such representation and warranty shall be true and correct in all respects as qualified thereby) on and as of the date of such increase, except to the extent that such representations and warranties specifically refer to an earlier
date, in which case they are true and correct in all material respects (except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty shall be true and
correct in all respects as qualified thereby) as of such earlier date, and except that for purposes of this Section 2.02(g), the representations and warranties contained in subsections (a) and (b) of
Section 6.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 7.01, and (2) no Default or Event of Default
exists. 
 The Borrowers shall prepay any Loans owing by such Borrower and outstanding on the date of any such increase (and
pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Loans ratable with any revised Revolving Credit Commitments arising from any nonratable increase in the Revolving
Credit Commitments under this Section. In connection with any such increase in the Aggregate Revolving Credit Commitments, Schedule 2.01 shall be revised by the Co-Administrative Agents to reflect the
new Revolving Credit Commitments and distributed to the Lenders. 

(h)        Notwithstanding anything to the contrary in this Agreement,
any Lender may exchange, continue or rollover all or a portion of its Loans in connection with any refinancing, extension, loan modification or similar transaction permitted by the terms of this Agreement, pursuant to a cashless settlement mechanism
approved by Timken, the Co-Administrative Agents and such Lender. 

(i)        With respect to any Committed Currency Daily Rate,
Committed Currency Term Rate or Term SOFR, the Agents will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming
Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document; provided, that, with respect to any such amendment effected, the Agents shall post each such amendment
implementing such Conforming Changes to Timken and the Lenders reasonably promptly after such amendment becomes effective. 
  

	 	2.03	 Letters of Credit. 

(a)        The Letter of Credit Commitment. 

(i)    On the Closing Date, each Existing Letter of Credit shall be deemed to have been
issued hereunder by the L/C Issuer. Subject to the terms and conditions set forth 

  
 41 

 
herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the other Lenders set forth in this Section 2.03, (1) from time to time on any Business Day
during the period from the Closing Date until the Letter of Credit Expiration Date, to issue Letters of Credit for the account of Timken or any Subsidiary in Dollars or any Committed Currency, and to amend or renew Letters of Credit previously
issued by it, in accordance with Section 2.03(b), and (2) to honor drafts under the Letters of Credit; and (B) the Lenders severally agree to participate in Letters of Credit issued (or deemed to have been issued)
for the account of Timken or any Subsidiary; provided that the L/C Issuer shall not make any L/C Credit Extension with respect to any Letter of Credit, and no Lender shall be obligated to participate in any Letter of Credit if as of the date
of such L/C Credit Extension, (w) the Total Revolving Credit Outstandings would exceed the Aggregate Revolving Credit Commitments, (x) the aggregate Outstanding Amount of the Loans of any Lender, plus such Lender’s Pro Rata
Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all Swing Line Loans would exceed such Lender’s Revolving Credit Commitment, (y) the Outstanding Amount of
the L/C Obligations would exceed the Letter of Credit Sublimit and (z) the Outstanding Amount of all L/C Obligations denominated in a Committed Currency would exceed the Committed L/C Currency Sublimit. Each request by Timken for an L/C Credit
Extension shall be deemed to be a representation by Timken that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and
conditions hereof, Timken’s ability to obtain Letters of Credit shall be fully revolving, and accordingly Timken may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn
upon and reimbursed. 
 (ii)    The L/C Issuer shall not be under any obligation to
issue any Letter of Credit if: 
 (A)    any order, judgment or decree of any
Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of law)
from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the L/C Issuer
with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss,
cost or expense which was not applicable on the Closing Date and which the L/C Issuer in good faith deems material to it; 

(B)    subject to Section 2.03(b)(iii), the expiry date of such
requested Letter of Credit would occur more than twelve months after the date of issuance or last renewal, unless the Required Lenders have approved such expiry date; 

(C)    the expiry date of such requested Letter of Credit would occur after the Letter of
Credit Expiration Date, unless all the Lenders have approved such expiry date; 

(D)    the issuance of such Letter of Credit would violate one or more policies of the
L/C Issuer applicable to letters of credit generally; 

  
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 (E)    such Letter of Credit is in an
initial stated amount less than $100,000, in the case of a commercial Letter of Credit, or $500,000, in the case of a standby Letter of Credit, or is to be denominated in a currency other than Dollars or a Committed Currency; or 

(F)    any Lender is at that time a Defaulting Lender, unless the L/C Issuer has entered
into arrangements, including the delivery of Cash Collateral, satisfactory to the L/C Issuer (in its sole discretion) with Timken or such Lender to eliminate the L/C Issuer’s actual or potential Fronting Exposure (after giving effect to
Section 2.16(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which the L/C Issuer has actual or
potential Fronting Exposure, as it may elect in its sole discretion. 
 (iii)    The
L/C Issuer shall not be under any obligation to amend any Letter of Credit if (A) the L/C Issuer would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of
such Letter of Credit does not accept the proposed amendment to such Letter of Credit. 

(iv)    The L/C Issuer shall act on behalf of the Lenders with respect to any Letters of
Credit issued by it and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Agents in Article X with respect to any acts taken or omissions suffered by the L/C Issuer
in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully, and subject to the same limitations, as if the term “Agent” as used in Article X
included the L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuer. 

(b)        Procedures for Issuance and Amendment of Letters of
Credit; Auto-Renewal Letters of Credit. 
 (i)      Each Letter of Credit
shall be issued or amended, as the case may be, upon the request of Timken delivered to the L/C Issuer (with a copy to the Paying Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of
Timken. Such Letter of Credit Application must be received by the L/C Issuer and the Paying Agent not later than 11:00 a.m. at least two (2) Business Days (or such later date and time as the L/C Issuer and the Paying Agent may agree in a
particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in
form and detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof; (C) the expiry date thereof; (D) the name and address of the
beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) whether such
Letter of Credit is to be denominated in Dollars or a Committed Currency and in the absence of such specification shall be deemed to be a request for a Letter of Credit denominated in Dollars; (H) a general description of the purpose and nature
of the requested Letter of Credit; and (I) such other matters as the L/C Issuer may reasonably require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and
detail satisfactory to the L/C Issuer (A) the Letter of Credit to be 

  
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amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as the L/C Issuer may
reasonably require. Additionally, Timken shall furnish to the L/C Issuer and the Paying Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer
or the Paying Agent may reasonably require. 
 (ii)    Promptly after receipt of any
Letter of Credit Application, the L/C Issuer will confirm with the Paying Agent (by telephone or in writing) that the Paying Agent has received a copy of such Letter of Credit Application from Timken and, if not, the L/C Issuer will provide the
Paying Agent with a copy thereof. Upon receipt by the L/C Issuer of confirmation from the Paying Agent that the requested issuance or amendment is permitted in accordance with the terms hereof, then, subject to the terms and conditions hereof, the
L/C Issuer shall, on the requested date, issue a Letter of Credit for the account of Timken or any Subsidiary or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary
business practices. Immediately upon the issuance (or deemed issuance) of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such Letter
of Credit in an amount equal to the product of such Lender’s Pro Rata Share times the amount of such Letter of Credit. 

(iii)    If Timken so requests in any applicable Letter of Credit Application, the L/C
Issuer shall agree to issue a Letter of Credit that has automatic renewal provisions (each, an “Auto-Renewal Letter of Credit”); provided that any such Auto-Renewal Letter of Credit must permit the L/C Issuer to prevent any such
renewal at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Nonrenewal Notice Date”) in each such
twelvemonth period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the L/C Issuer, Timken shall not be required to make a specific request to the L/C Issuer for any such renewal. Once an Auto-Renewal
Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the renewal of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date;
provided, however, that the L/C Issuer shall not permit any such renewal if (A) the L/C Issuer has determined that it would have no obligation at such time to issue such Letter of Credit in its renewed form under the terms hereof
(by reason of the provisions of Section 2.03(a)(ii) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is two (2) Business Days before the Nonrenewal
Notice Date from the Paying Agent, any Lender or Timken that one or more of the applicable conditions specified in Section 5.02 is not then satisfied. 

(iv)    Promptly after its delivery of any Letter of Credit or any amendment to a Letter
of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to Timken and the Paying Agent a true and complete copy of such Letter of Credit or amendment. 

(c)        Drawings and Reimbursements; Funding of
Participations. 
 (i)    Upon receipt from the beneficiary of any Letter of Credit
of any notice of a drawing under such Letter of Credit, the L/C Issuer shall notify Timken and the Paying Agent thereof. Not later than 12:00 noon on the date of any payment by the L/C Issuer 

  
 44 

 
under a Letter of Credit (each such date, an “Honor Date”), Timken shall reimburse the L/C Issuer through the Paying Agent in an amount equal to the amount of such drawing. If
Timken fails to so reimburse the L/C Issuer by such time, the Paying Agent shall promptly notify each Lender of the Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the Equivalent amount of such
Lender’s Pro Rata Share thereof. In such event, Timken shall be deemed to have requested a Revolving Credit Borrowing in Dollars of Base Rate Loans to be disbursed on the Honor Date in an Equivalent amount equal to the Unreimbursed Amount,
without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Revolving Credit Commitments and the conditions
set forth in Section 5.02 (other than the delivery of a Committed Loan Notice) and provided, that after giving effect to such Borrowing, the Total Revolving Credit Outstandings shall not exceed the Aggregate Revolving
Credit Commitments. Any notice given by the L/C Issuer or the Paying Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an
immediate confirmation shall not affect the conclusiveness or binding effect of such notice. 

(ii)    Each Lender (including any Lender acting as the L/C Issuer) shall upon any notice
pursuant to Section 2.03(c)(i) make funds available to the Paying Agent (and the Paying Agent may apply Cash Collateral provided for this purpose) for the account of the L/C Issuer at the Paying Agent’s Office in an
Equivalent amount equal to its Pro Rata Share of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice by the Paying Agent, whereupon, subject to the provisions of
Section 2.03(c)(iii), each Lender that so makes funds available shall be deemed to have made a Revolving Credit Loan that is a Base Rate Loan in Dollars to Timken in such amount. The Paying Agent shall remit the funds so
received to the L/C Issuer. 
 (iii)    With respect to any Unreimbursed Amount that is
not fully refinanced by a Revolving Credit Borrowing of Base Rate Loans because the conditions set forth in Section 5.02 cannot be satisfied or for any other reason, Timken shall be deemed to have incurred from the L/C
Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each
Lender’s payment to the Paying Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance
from such Lender in satisfaction of its participation obligation under this Section 2.03. 

(iv)    Until each Lender funds its Revolving Credit Loan or L/C Advance pursuant to this
Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Pro Rata Share of such amount shall be solely for the account of the L/C Issuer. 

(v)    So long as it has a Revolving Credit Commitment hereunder, each Lender’s
obligation to make Revolving Credit Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be
affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which such Lender may have against the L/C Issuer, Timken or any other Person for any reason whatsoever; (B) the occurrence or
continuance of a Default or an Event of Default, or (C) 

  
 45 

 
any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Revolving Credit Loans
pursuant to this Section 2.03(c) is subject to the conditions set forth in Section 5.02 (other than delivery by Timken of a Committed Loan Notice). No such making of an L/C Advance shall relieve or
otherwise impair the obligation of Timken to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein. 

(vi)    If any Lender fails to make available to the Paying Agent for the account of the
L/C Issuer any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), then, without limiting the other
provisions of this Agreement, the L/C Issuer shall be entitled to recover from such Lender (acting through the Paying Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which
such payment is immediately available to the L/C Issuer at a rate per annum equal to the greater of the Federal Funds Rate from time to time in effect and a rate determined by the L/C Issuer in accordance with banking industry rules on interbank
compensation. A certificate of the L/C Issuer submitted to any Lender (through the Paying Agent) with respect to any amounts owing under this Section 2.03(c)(vi) shall be conclusive absent manifest error. 

(d)        Repayment of Participations. 

(i)    At any time after the L/C Issuer has made a payment under any Letter of Credit and
has received from any Lender such Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Paying Agent receives for the account of the L/C Issuer any payment in respect of the related
Unreimbursed Amount or interest thereon (whether directly from Timken or otherwise, including proceeds of Cash Collateral applied thereto by the Paying Agent), the Paying Agent will distribute to such Lender its Pro Rata Share thereof (appropriately
adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s L/C Advance was outstanding) in the same funds as those received by the Paying Agent. 

(ii)    If any payment received by the Paying Agent for the account of the L/C Issuer
pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 11.06 (including pursuant to any settlement entered into by the L/C Issuer in its
discretion), each Lender shall pay to the Paying Agent for the account of the L/C Issuer its Pro Rata Share thereof on demand of the Paying Agent, plus interest thereon from the date of such demand to the date such amount is returned by such Lender,
at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e)        Obligations Absolute. The obligation of Timken to
reimburse the L/C Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all
circumstances, including the following: 
 (i)    any lack of validity or
enforceability of such Letter of Credit, this Agreement or any other Loan Document; 

  
 46 

 (ii)    the existence of any claim,
counterclaim, setoff, defense or other right that Timken or any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting),
the L/C Issuer or any other Person, whether in connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

(iii)    any draft, demand, certificate or other document presented under such Letter of
Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a
drawing under such Letter of Credit; 
 (iv)    any payment by the L/C Issuer under
such Letter of Credit against presentation of a draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in
bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any
transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; 

(v)    any exchange, release or nonperfection of any Cash Collateral, or any release or
amendment or waiver of or consent to departure from the Timken Guaranty Agreement, the Subsidiary Guaranty Agreement or any other guarantee, for all or any of the L/C Obligations of Timken in respect of such Letter of Credit; or 

(vi)    any other circumstance or happening whatsoever, whether or not similar to any of
the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, Timken or any Subsidiary. 

Timken shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any
claim of noncompliance with Timken’s instructions or other irregularity, Timken will immediately notify the L/C Issuer. Timken shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such
notice is given as aforesaid. 
 (f)        Role of the L/C
Issuer. Each Lender and Timken agree that, in paying any drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by such
Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. None of the L/C Issuer, any Agent, any of their respective Related Parties nor
any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of the Lenders or the Required Lenders, as applicable;
(ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer
Document. Timken hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude
Timken’s pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None of the L/C Issuer, the Agents, any of their respective Related Parties nor any correspondent, participant
or assignee of the L/C Issuer shall be liable or responsible for any of the matters described in clauses (i) through 

  
 47 

 
(v) of Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, Timken may have a claim against the L/C Issuer,
and the L/C Issuer may be liable to Timken, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by Timken which Timken proves were caused by the L/C Issuer’s willful misconduct or
gross negligence or the L/C Issuer’s willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit
unless the L/C Issuer is prevented or prohibited from so paying as a result of any order or directive of any court or other Governmental Authority. In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that
appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument
transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. The L/C Issuer may send a
Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication message or overnight courier, or any other commercially reasonable means of communicating with a
beneficiary. 
 (g)        Applicability of ISP98 and UCP.
Unless otherwise expressly agreed by the L/C Issuer and Timken when a Letter of Credit is issued (or deemed issued), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each
commercial Letter of Credit. Notwithstanding the foregoing, the L/C Issuer shall not be responsible to Timken for, and the L/C Issuer’s rights and remedies against Timken shall not be impaired by, any action or inaction of the L/C Issuer
required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where the L/C Issuer or the beneficiary is located, the
practice stated in the ISP or UCP, as applicable, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade—International Financial Services
Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice. 

(h)      Letter of Credit Fees. Timken shall pay to the Paying Agent for
the account of each Lender, subject to Section 2.16, in accordance with its Pro Rata Share a Letter of Credit fee for each Letter of Credit equal to the Applicable Rate times the daily maximum amount available to be drawn
under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit) (such fees, “Letter of Credit Fees”). Such Letter of Credit Fees shall be computed on a quarterly basis in arrears. Such
Letter of Credit Fees shall be due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance (or deemed issuance) of such Letter of Credit, on the
Letter of Credit Expiration Date and thereafter on demand. If there is any change in the Applicable Rate during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for
each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate. 

(i)        Fronting Fee and Documentary and Processing Charges
Payable to the L/C Issuer. Timken shall pay directly to the L/C Issuer for its own account a fronting fee with respect to each Letter of Credit issued (or deemed issued) by the L/C Issuer equal to the rate per annum identified in the KeyBank Fee
Letter times the daily maximum amount available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit) and on a quarterly basis in arrears. Such fronting fee shall be due and
payable on the first Business 

  
 48 

 
Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the
first such date to occur after the issuance (or deemed issuance) of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. In addition, Timken shall pay directly to the L/C Issuer for its own account the customary
issuance, presentation, amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable
on demand and are nonrefundable. 
 (j)        Conflict with
Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the terms hereof shall control. 
  

	 	2.04	 Swing Line Loans. 

(a)        The Swing Line. Subject to the terms and conditions
set forth herein, the Swing Line Lender agrees to make loans (each such loan, a “Swing Line Loan”) to Timken from time to time on any Business Day during the Availability Period in an aggregate principal amount not to exceed at any
time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Pro Rata Share of the Outstanding Amount of Loans and L/C Obligations of the Lender acting as Swing Line Lender,
may exceed the amount of such Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the Total Revolving Credit Outstandings shall not exceed the Aggregate Revolving
Credit Commitments, and (ii) the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share of the
Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Credit Commitment, and provided further that Timken shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line
Loan. Within the foregoing limits, and subject to the other terms and conditions hereof, Timken may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this
Section 2.04. Each Swing Line Loan shall bear interest at a rate based on the Base Rate, and each Swing Line Loan shall be denominated in Dollars. Immediately upon the making of a Swing Line Loan, each Lender shall be
deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Lender’s Pro Rata Share times the amount of such Swing
Line Loan. 
 (b)        Borrowing Procedures. Each Swing
Line Borrowing shall be made upon Timken’s irrevocable notice to the Swing Line Lender and the Paying Agent, which may be given by telephone. Each such notice must be received by the Swing Line Lender and the Paying Agent not later than 1:00
p.m. on the requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of $100,000 and (ii) the requested borrowing date, which shall be a Business Day. Each such telephonic notice must be confirmed
promptly by delivery to the Swing Line Lender and the Paying Agent of a written Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of Timken. Promptly after receipt by the Swing Line Lender of any telephonic Swing
Line Loan Notice, the Swing Line Lender will confirm with the Paying Agent (by telephone or in writing) that the Paying Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Paying Agent (by telephone
or in writing) of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Paying Agent (including at the request of any Lender) prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing
(A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the first proviso to the first sentence of Section 2.04(a), or (B) that one or more of the
applicable conditions specified in Section 5.02 is 

  
 49 

 
not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the
amount of its Swing Line Loan available to Timken at its office by crediting the account of Timken on the books of the Swing Line Lender in immediately available funds. 

(c)        Refinancing of Swing Line Loans. 

(i)    The Swing Line Lender at any time in its sole and absolute discretion may request,
on behalf of Timken (which hereby irrevocably authorizes the Swing Line Lender to so request on its behalf), that each Lender make a Base Rate Loan in an amount equal to such Lender’s Pro Rata Share of the amount of Swing Line Loans then
outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the
minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Revolving Credit Commitments and the conditions set forth in Section 5.02. The Swing Line
Lender shall furnish Timken with a copy of the applicable Committed Loan Notice promptly after delivering such notice to the Paying Agent. Each Lender shall make an amount equal to its Pro Rata Share of the amount specified in such Committed Loan
Notice available to the Paying Agent in immediately available funds (and the Paying Agent may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the account of the Swing Line Lender at the Paying Agent’s Office
not later than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Lender that so makes funds available shall be deemed to have made a Revolving Credit Loan that is
a Base Rate Loan to Timken in such amount. The Paying Agent shall remit the funds so received to the Swing Line Lender. 

(ii)    If for any reason any Swing Line Loan cannot be refinanced by a Revolving Credit
Borrowing in accordance with Section 2.04(c)(i), the request for Base Rate Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Lenders fund
its risk participation in the relevant Swing Line Loan and each Lender’s payment to the Paying Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed payment in respect of such
participation. 
 (iii)    If any Lender fails to make available to the Paying Agent
for the account of the Swing Line Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i), the
Swing Line Lender shall be entitled to recover from such Lender (acting through the Paying Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately
available to the Swing Line Lender at a rate per annum equal to the Federal Funds Rate from time to time in effect. A certificate of the Swing Line Lender submitted to any Lender (through the Paying Agent) with respect to any amounts owing under
this Section 2.04(c)(iii) shall be conclusive absent manifest error. 

(iv)    Each Lender’s obligation to make Revolving Credit Loans or to purchase and
fund risk participations in Swing Line Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment,
defense or other right which such Lender may have against the Swing Line Lender, Timken or any other Person for any reason whatsoever, (B) 

  
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the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each
Lender’s obligation to make Revolving Credit Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in Section 5.02. No such funding of risk participations shall relieve
or otherwise impair the obligation of Timken to repay Swing Line Loans, together with interest as provided herein. 

(d)      Repayment of Participations. 

(i)    At any time after any Lender has purchased and funded a risk participation in a
Swing Line Loan, if the Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Lender its Pro Rata Share of such payment (appropriately adjusted, in the case of interest payments, to
reflect the period of time during which such Lender’s risk participation was funded) in the same funds as those received by the Swing Line Lender. 

(ii)    If any payment received by the Swing Line Lender in respect of principal or
interest on any Swing Line Loan is required to be returned by the Swing Line Lender under any of the circumstances described in Section 11.06 (including pursuant to any settlement entered into by the Swing Line Lender in
its discretion), each Lender shall pay to the Swing Line Lender its Pro Rata Share thereof on demand of the Paying Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the
Federal Funds Rate. The Paying Agent will make such demand upon the request of the Swing Line Lender. 

(e)      Interest for Account of Swing Line Lender. The Swing Line Lender
shall be responsible for invoicing Timken for interest on the Swing Line Loans. Until each Lender funds its Revolving Credit Loan that is a Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance
such Lender’s Pro Rata Share of any Swing Line Loan, interest in respect of such Pro Rata Share shall be solely for the account of the Swing Line Lender. 

(f)      Payments Directly to Swing Line Lender. Timken shall make all
payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender. 
  

	 	2.05	 Prepayments. 

(a)      Optional. (i) Each Borrower may, upon notice to the Paying
Agent provided by Timken, at any time or from time to time voluntarily prepay Loans in whole or in part without premium or penalty; provided that (1) such notice must be received by the Paying Agent not later than 11:00 a.m. (A) two
(2) Business Days prior to any date of prepayment of Term SOFR Loans, (B) three (3) Business Days prior to any date of prepayment of Committed Currency Term Loans, (C) five (5) Business Days prior to any date of prepayment of Committed
Currency Daily Rate Loans and (D) on the date of prepayment of Base Rate Loans; (2) any prepayment of Loans (other than Swing Line Loans) shall be in a principal amount of not less than the Borrowing Minimum or the Borrowing Multiple in
excess thereof; and (3) any prepayment of Swing Line Loans shall be in a principal amount of not less than $100,000 or, in each case, if less, the entire principal amount thereof then outstanding; provided further that such notice
may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by Timken (by notice to the Co-Administrative Agents on or prior to the
specified prepayment date) if such condition is not satisfied. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Paying Agent will promptly notify each

  
 51 

 
Lender of its receipt of each such notice, and of the amount of such Lender’s Pro Rata Share of such prepayment. If such notice is given, such Borrower shall make such prepayment and the
payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Term SOFR Loan or a Committed Currency Term Rate Loan shall be accompanied by all accrued interest thereon, together with any
additional amounts required pursuant to Section 3.05. Each prepayment of the outstanding Term Loans pursuant to this Section 2.05(a) shall be applied in the manner specified by the applicable
Borrower or, if not so specified on or prior to the date of such optional prepayment, in direct order of maturity. Subject to Section 2.16, each prepayment pursuant to this Section 2.05(a) shall be
paid to the Paying Agent for distribution to the Appropriate Lenders in accordance with their respective Pro Rata Shares. 

(ii)    Timken may, upon notice to the Swing Line Lender (with a copy to the Paying
Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (1) such notice must be received by the Swing Line Lender and the Paying Agent not later than
1:00 p.m. on the date of the prepayment, and (2) any such prepayment shall be in a minimum principal amount of $100,000; provided further that such notice may state that such notice is conditioned upon the effectiveness of other
credit facilities, in which case such notice may be revoked by Timken (by notice to the Co-Administrative Agents on or prior to the specified prepayment date) if such condition is not satisfied. Each such
notice shall specify the date and amount of such prepayment. If such notice is given by Timken, Timken shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. 

(b)      Mandatory. 

(i)    If for any reason (A) the Total Revolving Credit Outstandings at any time
exceed the Aggregate Revolving Credit Commitments then in effect or (B) the Swing Line Loans outstanding exceed the Swing Line Sublimit, Timken and/or any Designated Borrower, as applicable, shall immediately prepay the Revolving Credit Loans,
the Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that Timken shall not be required to Cash Collateralize the L/C Obligations pursuant to this
Section 2.05(b) unless after the prepayment in full of the Loans and Swing Line Loans the Total Revolving Credit Outstandings exceed the Aggregate Revolving Credit Commitments then in effect. 

(ii)    Prepayments made pursuant to clause (i)(A) of this
Section 2.05(b), first, shall be applied to prepay L/C Borrowings outstanding at such time until all such L/C Borrowings are paid in full, second, shall be applied to prepay Swing Line Loans outstanding at such time until
all such Swing Line Loans are paid in full, third, shall be applied to prepay Revolving Credit Loans outstanding at such time and, fourth, shall be used to Cash Collateralize the L/C Obligations. Upon the drawing of any Letter of Credit which has
been Cash Collateralized, such funds shall be applied (without any further action by or notice to or from Timken or any other Loan Party) to reimburse the L/C Issuer or the Lenders, as applicable. 

(c)      Prepayments of Committed Currency Loans. If as of any
Determination Date (i) the Equivalent of the Outstanding Amount of all Revolving Credit Loans, all Swing Line Loans and all L/C Obligations exceeds the Aggregate Revolving Credit Commitments then in effect or (ii) the Equivalent of all L/C
Obligations exceeds the Letter of Credit Sublimit, in each case, Timken and/or the applicable Designated Borrower, as applicable, shall, on such Determination 

  
 52 

 
Date, prepay Revolving Credit Loans denominated in Committed Currencies and/or Cash Collateralize Letters of Credit denominated in a Committed Currency in an aggregate amount equal to such
excess. If as of any Determination Date the Equivalent of the Outstanding Amount of all Revolving Credit Loans and all L/C Obligations denominated in a Committed Currency exceeds 105% of the Committed Currency Sublimit then in effect, Timken and/or
the applicable Designated Borrower, as applicable, shall, on such Determination Date, prepay Revolving Credit Loans denominated in Committed Currencies and/or Cash Collateralize Letters of Credit denominated in a Committed Currency in an aggregate
amount equal to the amount by which such Outstanding Amount exceeds the Committed Currency Sublimit. 

(d)      Prepayments to Include Accrued Interest, Etc. All prepayments
under this Section 2.05 shall be applied to Loans in direct order of Interest Period maturities, and shall be made together with (i) accrued and unpaid interest to the date of such prepayment on the principal amount so
prepaid and (ii) in the case of any such prepayment of a Loan (other than a Base Rate Loan) on a date other than the last day of an Interest Period therefor, any amounts owing in respect of such Loan pursuant to
Section 3.05. 
  

	 	2.06	 Termination or Reduction of Commitments. 

(a)      Optional. Timken may, upon notice to the Paying Agent by Timken,
terminate the unused portions of the Letter of Credit Sublimit, the Committed Currency Sublimit, the Committed L/C Currency Sublimit or the unused Revolving Credit Commitments, or from time to time permanently reduce the unused portions of the
Letter of Credit Sublimit, the Committed Currency Sublimit, the Committed L/C Currency Sublimit or the unused Revolving Credit Commitments; provided that (i) any such notice shall be received by the Paying Agent not later than 11:00 a.m.
three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) Timken shall not
terminate or reduce the unused portions of the Letter of Credit Sublimit, the Committed Currency Sublimit, the Committed L/C Currency Sublimit or the unused Revolving Credit Commitments if, after giving effect thereto and to any concurrent
prepayments hereunder, the Total Revolving Credit Outstandings would exceed the Aggregate Revolving Credit Commitments, and (iv) if, after giving effect to any reduction of the Revolving Credit Facility, the Letter of Credit Sublimit, the Swing
Line Sublimit, the Committed Currency Sublimit or the Committed L/C Currency Sublimit exceeds the amount of the Revolving Credit Facility, such Letter of Credit Sublimit, Swing Line Sublimit, Committed Currency Sublimit or Committed L/C Currency
Sublimit shall be automatically reduced by the amount of such excess; provided further that such notice may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be
revoked by Timken (by notice to the Co-Administrative Agents on or prior to the specified termination date) if such condition is not satisfied. 

(b)      Mandatory. 

(i)    The aggregate Term Commitments shall be automatically and permanently reduced to
zero on the date of the Term Borrowing. 
 (ii)    If after giving effect to any
reduction or termination of unused Revolving Credit Commitments under this Section 2.06, the Letter of Credit Sublimit, the Committed Currency Sublimit, the Committed L/C Currency Sublimit or the Swing Line Sublimit exceeds
the amount of the Revolving Credit Commitments, such sublimit shall be automatically reduced by the amount of such excess. 

  
 53 

 (c)      Application of
Commitment Reductions; Payment of Fees. The Paying Agent will promptly notify the Lenders of any termination or reduction of unused portions of the Letter of Credit Sublimit, the Committed Currency Sublimit, the Committed L/C Currency Sublimit
or the unused Revolving Credit Commitment under this Section 2.06. Upon any reduction of unused Revolving Credit Commitments, except as set forth in Sections 2.16, the Revolving Credit Commitment of each Lender shall
be reduced by such Lender’s Pro Rata Share of the amount by which the Revolving Credit Commitments are reduced. All Facility Fees accrued until the effective date of any termination of the Aggregate Revolving Credit Commitments shall be paid on
the effective date of such termination. 
  

	 	2.07	 Repayment of Loans. 

(a)      Revolving Credit Loans. The applicable Borrower shall repay to
the Paying Agent for the ratable account of the Revolving Credit Lenders on the Maturity Date the aggregate principal amount of all Revolving Credit Loans of such Borrower outstanding on such date. 

(b)      Swing Line Loans. Timken shall repay each Swing Line Loan on the
earlier to occur of (i) the date agreed to between Timken and the Swing Line Lender, but in no event more than thirty (30) days after such Loan is made and (ii) the Maturity Date. 

(c)      Term Loans. Timken shall repay to the Paying Agent for the
ratable account of the Lenders the aggregate principal amount of all Term Loans outstanding on the following dates in the respective amounts set forth opposite such dates (which amounts shall be reduced as a result of the application of prepayments
in accordance with the order of priority set forth in Section 2.05), unless accelerated sooner pursuant to Section 8.02; 
  

			
	Payment Dates	  	
    Principal Repayment        

Installments

	
November 29, 2024
	  	$5,000,000
	
February 28, 2025
	  	$5,000,000
	
May 30, 2025
	  	$5,000,000
	
August 29, 2025
	  	$5,000,000
	
November 28, 2025
	  	$10,000,000
	
February 27, 2026
	  	$10,000,000
	
May 29, 2026
	  	$10,000,000
	
August 31, 2026
	  	$10,000,000
	
November 30, 2026
	  	$10,000,000
	
February 26, 2027
	  	$10,000,000
	
May 28, 2027
	  	$10,000,000
	
August 31, 2027
	  	$10,000,000

 provided, however, that (i) the final principal repayment installment of
the Term Loans shall be repaid on the Maturity Date for the Term Facility and in any event shall be in an amount equal to the Outstanding Amount of all Term Loans on such date, (ii) if any principal repayment installment to be made by Timken
(other than principal repayment installments on Term SOFR Loans) shall come due on a day other than a Business Day, such principal repayment installment shall be due on the next succeeding Business Day, and such extension of time shall be reflected
in computing interest or fees, as the case may be, and (iii) if any principal repayment installment to be made by the Borrower on a Term SOFR Loan shall come due on a day other than a Business Day, such principal repayment

  
 54 

 
installment shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such principal repayment installment into another calendar month, in which
event such principal repayment installment shall be due on the immediately preceding Business Day. 
  

	 	2.08	 Interest. 

(a)      Subject to the provisions of Section 2.08(b),
(i) each Term SOFR Loan shall bear interest on the Outstanding Amount thereof for each Interest Period at a rate per annum equal to Term SOFR for such Interest Period plus the Applicable Rate for Term SOFR Loans; (ii) each Base Rate Loan shall
bear interest on the Outstanding Amount thereof from the applicable borrowing date at a rate per annum for each day equal to the Base Rate plus the Applicable Rate for Base Rate Loans; (iii) each Committed Currency Daily Rate Loan shall bear
interest on the Outstanding Amount thereof from the applicable borrowing date at a rate per annum for each day equal to the Committed Currency Daily Rate plus the Applicable Rate for Committed Currency Daily Rate Loans; (iv) each Committed
Currency Term Rate Loan shall bear interest on the Outstanding Amount thereof for each Interest Period at a rate per annum equal to the Committed Currency Term Rate for such Interest Period plus the Applicable Rate for Committed Currency Term Rate
Loans; and (v) each Swing Line Loan shall bear interest on the Outstanding Amount thereof from the applicable borrowing date at a rate per annum for each day equal to the Base Rate plus the Applicable Rate for Base Rate Loans. To the extent
that any calculation of interest or any fee required to be paid under this Agreement shall be based on (or result in) a calculation that is less than zero, such calculation shall be deemed to be zero for purposes of this Agreement. 

(b)        If any amount of principal, interest or fees payable under
any of Sections 2.03(h), 2.03(i) or 2.09 are not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a
fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. Furthermore, upon the request of the Required Lenders, while any Event of Default exists, Timken and/or any Designated
Borrower, as applicable, shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. Accrued
and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. 

(c)      Interest on each Loan shall be due and payable in arrears on each
Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any
proceeding under any Debtor Relief Law. 
  

	 	2.09	 Fees. 

In addition to certain fees described in Sections 2.03(h) and 2.03(i): 

(a)      Facility Fee. Timken shall pay to the Paying Agent for the
account of each Lender (except as otherwise provided in Section 2.16 with respect to Defaulting Lenders) in accordance with its Pro Rata Share, a fee (the “Facility Fee”) equal to, the Applicable Rate times
the Aggregate Revolving Credit Commitments (or, if the Aggregate Revolving Credit Commitments have been terminated, on the Outstanding Amount of all Revolving Credit Loans and L/C Obligations). The Facility Fee shall accrue at all times from the
Closing Date through the Maturity Date, including at any time during which one or more of the conditions in Article V is not met, and shall be due and 

  
 55 

 
payable in arrears on the last Business Day of each March, June, September and December, and on the Maturity Date. The Facility Fee shall be calculated quarterly in arrears, and if there is any
change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. 

(b)        Other Fees. 

(i)    Timken shall pay to the Arrangers for their own respective accounts fees in the
amounts and at the times specified in the Bank of America Fee Letter, the KeyBank Fee Letter, the JPMorgan Fee Letter and the PNC Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

(ii)    Timken shall pay to the Agents such fees as shall have been separately agreed
upon in writing in the amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
  

	 	2.10	 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate.

 All computations of interest for Base Rate Loans (including Base Rate Loans
determined by reference to Term SOFR) and for Loans denominated in Committed Currencies (other than Committed Currency Loans with respect to EURIBOR) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days
elapsed, or, in the case of interest in respect of Loans denominated in Committed Currencies as to which market practice differs from the foregoing, in accordance with such market practice. All other computations of fees and interest, including
those with respect to Term SOFR Loans and Committed Currency Loans determined by reference to EURIBOR, shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or
interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion
thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day. Each determination by
the Paying Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error. 
  

	 	2.11	 Evidence of Indebtedness. 

(a)        The Credit Extensions made by each Lender shall be
evidenced by one or more accounts or records maintained by such Lender in the ordinary course of business. The Paying Agent shall maintain the Register in accordance with Section 11.07(c). The accounts or records maintained
by each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to any Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or
otherwise affect the obligation of each Borrower hereunder to pay any amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the Register, the Register shall control
in the absence of manifest error. Upon the request of any Lender made through the Paying Agent, each Borrower shall execute and deliver to such Lender (through the Paying Agent) a Note, which shall evidence such Lender’s Loans in addition to
such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. 

  
 56 

 (b)        In
addition to the accounts and records referred to in Section 2.11(a), each Lender and the Paying Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such
Lender of participations in Letters of Credit and Swing Line Loans. In the event of any conflict between the accounts and records maintained by the Paying Agent and the accounts and records of any Lender in respect of such matters, the accounts and
records of the Paying Agent shall control in the absence of manifest error. 

(c)        Entries made in good faith by the Paying Agent in the
Register pursuant to Section 2.11(b), and by each Lender in its account or accounts pursuant to Section 2.11(a) above, shall be prima facie evidence of the amount of principal and interest due and
payable or to become due and payable from the Borrowers to, in the case of the Register, each Lender and, in the case of such account or accounts, such Lender, under this Agreement and the other Loan Documents, absent manifest error; provided
that the failure of the Paying Agent or such Lender to make an entry, or any finding that an entry is incorrect, in the Register or such account or accounts shall not limit or otherwise affect the obligations of the Borrowers under this Agreement
and the other Loan Documents. 
  

	 	2.12	 Payments Generally. 

(a)        Except as provided in
Section 3.01, all payments to be made by the Borrowers shall be made free and clear of and without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein,
all payments by the Borrowers hereunder (except with respect to principal of, interest on, and other amounts relating to, Loans denominated in a Committed Currency) shall be made to the Paying Agent, for the account of the respective Lenders to
which such payment is owed, at the Paying Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein. Except as otherwise expressly provided herein, all payments by the Borrowers with
respect to principal of, interest on, and other amounts relating to, Loans denominated in a Committed Currency shall be made to the Paying Agent, for the account of the respective Lenders to which such payment is owed, at the Payment Office in such
Committed Currency and in immediately available funds not later than 2:00 p.m. on the date specified herein. The Paying Agent will promptly distribute to each Lender its Pro Rata Share (or other applicable share as provided herein) of such payment
in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Paying Agent after 2:00 p.m. shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue
to accrue. 
 (b)        If any payment to be made by the Borrowers
shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be; provided, however, that, if
such extension would cause payment of interest on or principal of Term SOFR Loans or Committed Currency Loans to be made in the next succeeding calendar month, such payment shall be made on the immediately preceding Business Day. 

(c)        Unless Timken or any Lender has notified the Paying Agent,
prior to the date any payment is required to be made by it to the Paying Agent hereunder, that any Borrower or such Lender, as the case may be, will not make such payment, the Paying Agent may assume that such Borrower or such Lender, as the case
may be, has timely made such payment and may (but shall not be so required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If and to the extent that such payment was not in fact made to the Paying
Agent in immediately available funds, then: 

  
 57 

 (i)    if the applicable Borrower
failed to make such payment, each Lender shall forthwith on demand repay to the Paying Agent the portion of such assumed payment that was made available to such Lender in immediately available funds, together with interest thereon in respect of each
day from and including the date such amount was made available by the Paying Agent to such Lender to the date such amount is repaid to the Paying Agent in immediately available funds at the higher of (A) Federal Funds Rate from time to time in
effect in the case of Loans denominated in Dollars or (B) the cost of funds incurred by the Paying Agent in respect of such amount in the case of Loans denominated in Committed Currencies; and 

(ii)    if any Lender failed to make such payment, such Lender shall forthwith on demand
pay to the Paying Agent the amount thereof in immediately available funds, together with interest thereon for the period from the date such amount was made available by the Paying Agent to the applicable Borrower to the date such amount is recovered
by the Paying Agent (the “Compensation Period”) at a rate per annum equal to the higher of (A) Federal Funds Rate from time to time in effect in the case of Loans denominated in Dollars or (B) the cost of funds incurred by
the Paying Agent in respect of such amount in the case of Loans denominated in Committed Currencies. If such Lender pays such amount to the Paying Agent, then such amount shall constitute such Lender’s Loan included in the applicable Borrowing
in the case of Loans denominated in Dollars or (B) the cost of funds incurred by the Paying Agent in respect of such amount in the case of Loans denominated in Committed Currencies. If such Lender does not pay such amount forthwith upon the
Paying Agent’s demand therefor, the Paying Agent may make a demand therefor upon Timken, and the Borrowers shall pay such amount to the Paying Agent, together with interest thereon for the Compensation Period at a rate per annum equal to the
rate of interest applicable to the applicable Borrowing. Nothing herein shall be deemed to relieve any Lender from its obligation to fulfill its Commitment or to prejudice any rights which the Paying Agent or the Borrowers may have against any
Lender as a result of any default by such Lender hereunder. 
 With respect to any payment that the Agents make for the
account of the Lenders or any L/C Issuer hereunder as to which such Agent determines (which determination shall be conclusive absent manifest error) that any of the following applies (such payment referred to as the “Rescindable
Amount”): (1) the applicable Borrower has not in fact made such payment; (2) the applicable Agent has made a payment in excess of the amount so paid by such Borrower (whether or not then owed); or (3) the applicable Agent has for
any reason otherwise erroneously made such payment; then each of the Lenders or the L/C Issuers, as the case may be, severally agrees to repay to the applicable Agent forthwith on demand the Rescindable Amount so distributed to such Lender or the
L/C Issuer, in Same Day Funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the applicable Agent, at (I) the greater of (A) the Federal Funds Rate
from time to time in effect in the case of Loans denominated in Dollars or (B) the cost of funds incurred by the applicable Agent in respect of such amount in the case of Loans denominated in Committed Currencies and (II) a rate determined
by the applicable Agent in accordance with banking industry rules on interbank compensation. 
 A notice of the Paying Agent
to any Lender or Timken with respect to any amount owing under this Section 2.12(c) shall be conclusive, absent manifest error. 

(d)        If any Lender makes available to the Paying Agent funds for
any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not 

  
 58 

 
made available to the applicable Borrower by the Paying Agent because the conditions to the applicable Credit Extension set forth in Article V are not satisfied or waived in accordance with the
terms hereof, the Paying Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest. 

(e)        The obligations of the Lenders hereunder to make Loans, to
fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to Section 11.05(b) are several and not joint. The failure of any Lender to make any Loan, to fund any such participation or to
make any payment under Section 11.05(b) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any
other Lender to so make its Loan, to purchase its participation or to make its payment under Section 11.05(b). 

(f)        Nothing herein shall be deemed to obligate any Lender to
obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

(g)        Whenever any payment received by the Paying Agent under
this Agreement or any of the other Loan Documents is insufficient to pay in full all amounts due and payable to the Agents and the Lenders under or in respect of this Agreement and the other Loan Documents on any date, such payment shall be
distributed by the Paying Agent and applied by the Agents and the Lenders in the order of priority set forth in Section 9.03. If the Paying Agent receives funds for application to the Obligations of the Loan Parties under
or in respect of the Loan Documents under circumstances for which the Loan Documents do not specify the manner in which such funds are to be applied, the Paying Agent may, but shall not be obligated to, elect to distribute such funds to each of the
Lenders in accordance with such Lender’s Pro Rata Share of the sum of (A) the Outstanding Amount of all Loans outstanding at such time and (b) the Outstanding Amount of all L/C Obligations outstanding at such time, in repayment or
prepayment of such of the outstanding Loans or other Obligations then owing to such Lender. 

(h)        To the extent that the Paying Agent receives funds for
application to the amounts owing by any Borrower under or in respect of this Agreement or any Note in currencies other than the currency or currencies required to enable the Paying Agent to distribute funds to the Lenders in accordance with the
terms of this Section 2.12, the Paying Agent shall be entitled to convert or exchange such funds into Dollars or into a Committed Currency or from Dollars to a Committed Currency or from a Committed Currency to Dollars, as
the case may be, to the extent necessary to enable the Paying Agent to distribute such funds in accordance with the terms of this Section 2.12; provided that the Borrowers and each of the Lenders hereby agree that
the Paying Agent shall not be liable or responsible for any loss, cost or expense suffered by any Borrower or such Lender as a result of any conversion or exchange of currencies affected pursuant to this Section 2.12(h) or
as a result of the failure of the Paying Agent to effect any such conversion or exchange; and provided further that the Borrowers agree to indemnify the Paying Agent and each Lender, and hold the Paying Agent and each Lender harmless,
for any and all losses, costs and expenses incurred by the Paying Agent or any Lender for any conversion or exchange of currencies (or the failure to convert or exchange any currencies) in accordance with this
Section 2.12(h). 
  

	 	2.13	 Sharing of Payments. 

If, other than as expressly provided elsewhere herein, any Lender shall obtain on account of the Loans made by it, or the
participations in L/C Obligations or in Swing Line Loans held by it (excluding any amounts applied by the Swing Line Lender to outstanding Swing Line Loans and excluding any amounts 

  
 59 

 
received by the L/C Issuer and/or the Swing Line Lender to secure the obligations of a Defaulting Lender to fund risk participations hereunder), any payment (whether voluntary, involuntary,
through the exercise of any right of setoff, or otherwise) in excess of its ratable share (or other share contemplated hereunder) thereof, such Lender shall immediately (a) notify the Paying Agent of such fact, and (b) purchase from the
other Lenders such participations in the Loans made by them and/or such subparticipations in the participations in L/C Obligations or Swing Line Loans held by them, as the case may be, as shall be necessary to cause such purchasing Lender to share
the excess payment in respect of such Loans or such participations, as the case may be, pro rata with each of them; provided, however, that (x) if all or any portion of such excess payment is thereafter recovered from the
purchasing Lender under any of the circumstances described in Section 11.06 (including pursuant to any settlement entered into by the purchasing Lender in its discretion), such purchase shall to that extent be rescinded and
each other Lender shall repay to the purchasing Lender the purchase price paid therefor, together with an amount equal to such paying Lender’s ratable share (according to the proportion of (i) the amount of such paying Lender’s
required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered, without further interest thereon and
(y) the provisions of this Section shall not be construed to apply to (A) any payment made by or on behalf of any Borrower pursuant to and in accordance with the express terms of this Agreement or (B) any payment obtained by a Lender
pursuant to Section 2.16 or as consideration for any assignment or participation pursuant to Section 11.07. The Borrowers agree that any Lender so purchasing a participation from another Lender
may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of setoff, but subject to Section 11.09) with respect to such participation as fully as if such Lender were the direct
creditor of any Borrower in the amount of such participation. The Paying Agent will keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased under this Section 2.13
and will in each case notify the Lenders following any such purchases or repayments. Each Lender that purchases a participation pursuant to this Section 2.13 shall from and after such purchase have the right to give all notices, requests,
demands, directions and other communications under this Agreement with respect to the portion of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations purchased. 

 

	 	2.14	 Committed Currency Borrowings. 

(a)      Determination of Equivalents. 

(i)    The Paying Agent will determine the Equivalent amount on each of the following
dates: (A) with respect to any Loan, each of the following: (I) each date of a Borrowing of a Committed Currency Loan, (II) with respect to a Committed Currency Daily Rate Loan, each Interest Payment Date, (III) each date of a
continuation of a Committed Currency Term Rate Loan pursuant to Section 2.02, and (IV) such additional dates as the Paying Agent shall determine or the Required Lenders shall require; and (B) with respect to any
Letter of Credit, each of the following: (I) each date of issuance, amendment and/or extension of a Letter of Credit denominated in a Committed Currency, (II) each date of any payment by the L/C Issuer under any Letter of Credit
denominated in a Committed Currency, (III) in the case of all Existing Letters of Credit denominated in Committed Currencies, the Closing Date and (IV) such additional dates as the Paying Agent or the L/C Issuer shall determine or the
Required Lenders shall require (each such date under clauses (A) and (B), being a “Determination Date”). 

(ii)    The Paying Agent or the L/C Issuer, as applicable, shall determine the Equivalent
amounts in Dollars of Credit Extensions and Outstanding Amounts denominated in Committed Currencies. Such Equivalent in Dollars shall become effective 

  
 60 

 
as of such Determination Date and shall be the Equivalent in Dollars of such amounts until the next Determination Date to occur. Except for purposes of financial statements delivered by Loan
Parties hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such Equivalent amount in Dollars as so
determined by the Paying Agent or the L/C Issuer, as applicable. 
 (iii)    Wherever
in this Agreement in connection with a Borrowing, conversion, continuation or prepayment of a Committed Currency Loan or the issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is
expressed in Dollars, but such Borrowing, Loan or Letter of Credit is denominated in a Committed Currency, such amount shall be the relevant Equivalent in the applicable Committed Currency of such Dollar amount (rounded to the nearest unit of such
Committed Currency, with 0.5 of a unit being rounded upward), as determined by the Paying Agent or the L/C Issuer, as the case may be. 

(b)      Notification of Availability. If on any date on which a
Revolving Credit Loan denominated in a Committed Currency is requested to be made or continued, in the event that the Committed Currency requested or elected by Timken to be continued is not available to the Paying Agent, then the Paying Agent shall
notify Timken no later than 4:00 p.m., three (3) Business Days prior to the proposed Borrowing or proposed continuation. 

(c)      Consequences of
Non-Availability. If the Paying Agent notifies Timken pursuant to Section 2.14(b) that the Committed Currency requested or elected by Timken to be continued is not available, such
notification shall (i) in the case of any request for a Borrowing, revoke such request and (ii) in the case of any continuation or conversion, result in the Loans denominated in such Committed Currency being automatically converted into
Term SOFR Loans for a one month Interest Period on the last day of the then current Interest Period with respect to such Loans denominated in such Committed Currency. 

(d)        Automatic Conversions. During the existence of an
Event of Default, all outstanding Loans denominated in a Committed Currency shall be redenominated and converted into their Equivalent of Term SOFR Loans with a one month Interest Period on the last day of the Interest Period applicable to any such
Loans. 
  

	 	2.15	 Cash Collateral.  

(a)        Certain Credit Support Events. If (i) the L/C
Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, (ii) as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding,
(iii) Timken shall be required to provide Cash Collateral pursuant to Section 9.02(c), or (iv) there shall exist a Defaulting Lender, Timken shall within one Business Day following any request by the Paying Agent
or the L/C Issuer, provide Cash Collateral in an amount not less than the applicable Minimum Collateral Amount (determined in the case of Cash Collateral provided pursuant to clause (iv) above, after giving effect to
Section 2.16(a)(iv) and any Cash Collateral provided by the Defaulting Lender). 

(b)        Grant of Security Interest. Timken, and to the
extent provided by any Defaulting Lender, such Defaulting Lender, hereby grants to (and subjects to the control of) the Paying Agent, for the benefit of the Agents, the L/C Issuer and the Lenders, and agrees to maintain, a first priority security
interest in all deposit accounts and all cash and balances deposited or held therein, and in 

  
 61 

 
all proceeds of the foregoing, all as security for the obligations to which the Cash Collateral may be applied pursuant to Section 2.15. If at any time the Paying Agent
determines that Cash Collateral is subject to any right or claim of any Person other than the Paying Agent or the L/C Issuer as herein provided or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, Timken will,
promptly upon demand by the Paying Agent, deposit with, pay or provide to the Paying Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency. All Cash Collateral (other than credit support not constituting funds subject
to deposit) shall be maintained in blocked, non-interest bearing deposit accounts at the Paying Agent, in the name of Timken. Timken shall pay on demand therefor from time to time all customary account
opening, activity and other reasonable administrative fees and charges in connection with the maintenance and disbursement of Cash Collateral. 

(c)        Application. Notwithstanding anything to the
contrary contained in this Agreement, Cash Collateral provided under any of this Section 2.15 or Sections 2.03, 2.05, 2.16 or 9.02 in respect of Letters of Credit shall be held and applied to the
satisfaction of the specific L/C Obligations, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral
was so provided, prior to any other application of such property as may otherwise be provided for herein. 

(d)        Release. Cash Collateral (or the appropriate portion
thereof) provided to reduce Fronting Exposure or to secure other obligations, and the security interest in such Cash Collateral shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations
giving rise thereto (including by the termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following compliance with Section 11.07(b)(vi))), (ii) in the event Cash Collateral is
provided pursuant to Section 9.02(c), the cure or waiver of all Events of Default, or (iii) the determination by the Paying Agent and the L/C Issuer that there exists excess Cash Collateral; provided, however, the Person providing
Cash Collateral and the L/C Issuer may agree that Cash Collateral shall not be released but instead held to support future anticipated Fronting Exposure or other obligations. 

2.16    Defaulting Lender.  

(a)      Adjustments. Notwithstanding anything to the contrary contained
in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law: 

(i)      Waivers and Amendments. Such Defaulting Lender’s right to
approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of “Required Lenders”, “Required Revolving Credit Lenders” and
Section 11.01. 
 (ii)    Defaulting Lender Waterfall.
Any payment of principal, interest, fees or other amounts received by the Paying Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article IX or otherwise) or received by the Paying
Agent from a Defaulting Lender pursuant to Section 11.09 shall be applied at such time or times as may be determined by the Paying Agent as follows: first, to the payment of any amounts owing by such Defaulting
Lender to the Paying Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder; third, to Cash Collateralize the L/C Issuer’s
Fronting Exposure with respect to such Defaulting Lender in 

  
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accordance with Section 2.15; fourth, as Timken may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which
such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Paying Agent; fifth, if so determined by the Paying Agent and Timken, to be held in a deposit account and released pro rata in
order to (x) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize the L/C Issuer’s future Fronting Exposure with respect to such Defaulting
Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 2.15; sixth, to the payment of any amounts owing to the Lenders, the L/C Issuer or Swing Line Lender as a result
of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or the Swing Line Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement;
seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to any Borrower as a result of any judgment of a court of competent jurisdiction obtained by such Borrower against such Defaulting Lender as a
result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a
payment of the principal amount of any Loans or L/C Borrowings in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such Loans were made or the related Letters of Credit were issued at a time when the
conditions set forth in Section 5.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on a
pro rata basis prior to being applied to the payment of any Loans of, or L/C Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Obligations and Swing Line Loans are held by the
Lenders pro rata in accordance with the Revolving Credit Commitments hereunder without giving effect to Section 2.16(a)(iv). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied
(or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.16(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents
hereto. 
 (iii)    Certain Fees. 

(A)    The Defaulting Lender shall not be entitled to receive or accrue any fees payable
under Section 2.09(a) or any Letter of Credit Fee for any period during which that Lender is a Defaulting Lender (and Timken shall not be required to pay any such fee that otherwise would have been required to have been
paid to that Defaulting Lender). 
 (B)      With respect to any fee payable
under Section 2.09(a) or any Letter of Credit Fee not required to be paid to any Defaulting Lender pursuant to clause (A) or (B) above, Timken shall (x) pay to each
Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in L/C Obligations or Swing Line Loans that has been
reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to the L/C Issuer and Swing Line Lender, as applicable, the amount of any such fee otherwise payable to such
Defaulting Lender to the extent allocable to such L/C Issuer’s or Swing Line Lender’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee. 

  
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 (iv)    Reallocation of Pro Rata
Shares to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s participation in L/C Obligations and Swing Line Loans shall be reallocated among the Non-Defaulting Lenders in
accordance with their respective Pro Rata Shares (calculated without regard to such Defaulting Lender’s Revolving Credit Commitment) but only to the extent that such reallocation does not cause the aggregate Total Outstandings of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Credit Commitment. Subject to Section 11.25, no reallocation hereunder
shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender
as a result of such Non-Defaulting Lender’s increased exposure following such reallocation. 

(v)    Cash Collateral, Repayment of Swing Line Loans. If the reallocation
described in clause (a)(iv) above cannot, or can only partially, be effected, Timken shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, (x) first, prepay Swing Line Loans in an amount equal
to the Swing Line Lenders’ Fronting Exposure and (y) second, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in Section 2.15. 

(b)        Defaulting Lender Cure. If Timken, the Co-Administrative Agents, Swing Line Lender and the L/C Issuer agree in writing that a Lender is no longer a Defaulting Lender, the Co-Administrative Agents will so notify the
parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase
that portion of outstanding Loans of the other Lenders or take such other actions as the Co-Administrative Agents may determine to be necessary to cause the Loans and funded and unfunded participations in
Letters of Credit and Swing Line Loans to be held on a pro rata basis by the Lenders in accordance with their Pro Rata Share (without giving effect to Section 2.16(a)(iv)), whereupon such Lender will cease to be a
Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of any Borrower while that Lender was a Defaulting Lender; and provided, further, that
except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a
Defaulting Lender. 
 (c)        New Swing Line Loans/Letters of
Credit. So long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan and
(ii) no L/C Issuer shall be required to issue, extend, increase, reinstate or renew any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto. 

 

	 	2.17	 Designated Borrower.  

(a)       Timken may at any time and from time to time, upon not less than ten
(10) Business Days’ notice from Timken to the Co-Administrative Agents (or such shorter period as may be agreed by the Co-Administrative Agents in their sole
discretion), designate any Foreign Subsidiary of Timken (an “Applicant Designated Borrower”) as a Designated Borrower to receive Loans hereunder by delivering to the Co-Administrative Agents
(which shall promptly deliver counterparts thereof to each Lender) a duly executed notice and agreement in substantially the form of Exhibit I (a “Designated Borrower Request and Assumption Agreement”). The
parties hereto acknowledge and agree that prior to any Applicant Designated Borrower becoming entitled to utilize the credit facilities provided for herein (i) the Co-

  
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Administrative Agents and the Lenders must each agree in writing to such Designated Borrower becoming a Borrower hereunder and (ii) the
Co-Administrative Agent and the Lenders shall have received such supporting resolutions, incumbency certificates, opinions of counsel and other documents or information (including, without limitation, all
documentation and other information with respect to such Designated Borrower requested by any such Lender in order to comply with its obligations under applicable “know your customer” and anti-money laundering rules and regulations,
including the PATRIOT Act), in form, content and scope reasonably satisfactory to the Co-Administrative Agents, as may be required by the Co-Administrative Agents in
their sole discretion, and Notes signed by such Designated Borrower to the extent any Lenders so require. If the Co-Administrative Agents and each of the Lenders agree that the Applicant Designated Borrower
shall be entitled to receive Loans hereunder, then promptly following receipt of all such requested resolutions, incumbency certificates, opinions of counsel and other documents or information and the fully executed Timken Guaranty Agreement, the Co-Administrative Agents shall send a notice in substantially the form of Exhibit J (a “Designated Borrower Notice”) to Timken and the Lenders specifying the effective
date upon which the Applicant Designated Borrower shall constitute a Designated Borrower for purposes hereof, whereupon each of the Lenders agrees to permit such Designated Borrower to receive Loans hereunder, on the terms and conditions set forth
herein, and each of the parties agrees that such Designated Borrower otherwise shall be a Borrower for all purposes of this Agreement; provided that no Committed Loan Notice may be submitted on behalf of such Designated Borrower until the
date five (5) Business Days after such effective date. 
 (b)      The Obligations of
each Borrower (including each Designated Borrower) shall be several in nature. Notwithstanding anything in this Agreement or any other Loan Document to the contrary, (i) the obligation of each Designated Borrower, in its capacity as such, under
this Agreement and the other Loan Documents is several and not joint and (ii) each Designated Borrower shall not have any liability for the payment of any Obligation other than the Designated Borrower Obligations of such Designated Borrower.

 (c)      Any Foreign Subsidiary of Timken that becomes the “Designated Borrower”
pursuant to this Section 2.17 hereby irrevocably appoints Timken as its agent for all purposes relevant to this Agreement and each of the other Loan Documents, including (i) the giving and receipt of notices and
(ii) the execution and delivery of all documents, instruments and certificates contemplated herein and all modifications hereto. Any acknowledgment, consent, direction, certification or other action which might otherwise be valid or effective
only if given or taken by all Borrowers, or by Timken and the Designated Borrowers acting singly, shall be valid and effective if given or taken only by Timken, whether or not the Designated Borrowers join therein. Any notice, demand, consent,
acknowledgement, direction, certification or other communication delivered to Timken in accordance with the terms of this Agreement shall be deemed to have been delivered to the applicable Designated Borrower. 

(d)    Timken may from time to time, upon not less than ten (10) Business Days’ notice from
Timken to the Co-Administrative Agents (or such shorter period as may be agreed by the Co-Administrative Agents in its sole discretion), terminate any Designated
Borrower’s status as such, provided that there are no outstanding Loans payable by such Designated Borrower, or other amounts payable by such Designated Borrower on account of any Loans made to it, as of the effective date of such
termination. The Co-Administrative Agents will promptly notify the Lenders of any such termination of such Designated Borrower’s status. 

 

	 	2.18	 Amend and Extend Transactions.  

(a)        Not more than once during the term of this Agreement following the Closing
Date, Timken may, by written notice to the Co-Administrative Agents, request an extension (an “Extension”) of the Maturity Date applicable to the Revolving Credit Facility for one
(1) additional year. Such notice shall set forth (i) the amount of the Aggregate Revolving Credit Commitments to be extended (which shall be in 

  
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minimum increments of $1,000,000 and a minimum amount of $10,000,000), and (ii) the date on which such Extension is requested to become effective (which shall be not less than ten
(10) Business Days nor more than sixty (60) days after the date of such request (or such longer or shorter periods as the Co-Administrative Agents shall agree)). Each Lender shall be offered (an
“Extension Offer”) an opportunity to participate in such Extension on a pro rata basis and on the same terms and conditions as each other Lender pursuant to procedures established by, or reasonably acceptable to, the Co-Administrative Agents. Any Lender approached to participate in such Extension may elect or decline, in its sole discretion, to participate in such Extension. If the aggregate principal amount of the Revolving
Credit Commitments (calculated on the face amount thereof) in respect of which Lenders shall have accepted the Extension Offer shall exceed the maximum aggregate principal amount of the Revolving Credit Commitments requested to be extended by Timken
pursuant to such Extension Offer, then the Revolving Credit Commitments of Lenders shall be extended ratably up to such maximum amount based on the respective principal amounts (but not to exceed actual holdings of record) with respect to which such
Lenders have accepted such Extension Offer. 
 (b)        It shall be a condition
precedent to the effectiveness of such Extension that (i) no Default or Event of Default shall have occurred and be continuing immediately prior to and immediately after giving effect to such Extension, giving effect to the Additional Credit
Extension Amendment, (ii) the representations and warranties of Timken contained in Article VI (other than Sections 6.05(c), 6.06 and 6.09) or any other Loan Document, or which are contained in any document furnished by
Timken at any time under or in connection herewith or therewith, shall be true and correct in all material respects (except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such
representation and warranty shall be true and correct in all respects as qualified thereby) on and as of the date of such Extension, except to the extent that such representations and warranties specifically refer to an earlier date, in which case
they shall be true and correct in all material respects (except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty shall be true and correct in all
respects as qualified thereby) as of such earlier date, and except that for purposes of this Section 2.18, the representations and warranties contained in subsections (a) and (b) of
Section 6.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 7.01, (iii) the L/C Issuer and the
Swing Line Lender shall have consented to such Extension of the Revolving Credit Commitments to the extent that such Extension provides for the issuance of Letters of Credit or making of Swing Line Loans at any time during the extended period and
(iv) the terms of such Extended Commitments shall comply with Section 2.18(c). 

(c)        The terms of such Extension shall be determined by Timken and the
applicable extending Lenders and shall be set forth in an Additional Credit Extension Amendment; provided, that, (i) the final maturity date of any Extended Commitment shall be no earlier than the Maturity Date, (ii) there
shall be no scheduled amortization of the Extended Commitments, (iii) the Extended Loans will rank pari passu in right of payment with the Loans being extended and the borrowers and guarantors of the Extended Commitments shall be the
same as the borrowers and guarantors with respect to the Loans being extended, (iv) the interest rate margin, rate floors, fees, original issue discounts and premiums applicable to any Extended Commitments (and the Extended Loans thereunder)
shall be the same as those in effect immediately prior to such Extension, unless Timken and the applicable extending Lender(s) agree to amend any such terms, and (v) to the extent the terms of the Extended Commitments are inconsistent with the
terms set forth herein (except as set forth in clause (i) through (iv) above), such terms shall be reasonably satisfactory to the Co-Administrative Agents. 

(d)        In connection with such Extension, Timken, the Co-Administrative Agents and each applicable extending Lender shall execute and deliver to the Co-Administrative Agents an Additional Credit Extension Amendment and such other
documentation, including opinions of counsel and other 

  
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documentation consistent with the conditions in Section 5.01, all to the extent reasonably requested by the Co-Administrative
Agents or the other parties to such Additional Credit Extension Amendment. The Co-Administrative Agents shall promptly notify each Lender as to the effectiveness of such Extension. Notwithstanding anything
herein to the contrary, such Additional Credit Extension Amendment may, without the consent of any other Lender, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate (but only to such extent), in
the reasonable opinion of the Co-Administrative Agents and Timken, to implement the terms of any such Extension Offer, including any amendments necessary to establish Extended Commitments as a new tranche of
revolving commitments and such other technical amendments as may be necessary or appropriate in the reasonable opinion of the Co-Administrative Agents and Timken in connection with the establishment of such
new tranche (including to preserve the pro rata treatment of the extended and non-extended tranches and to provide for the reallocation of any L/C Obligations or obligations under Swing Line Loans upon the
expiration or termination of the commitments under any tranche), in each case on terms consistent with this Section 2.18. 

ARTICLE III 
 TAXES,
YIELD PROTECTION AND ILLEGALITY 
  

	 	3.01	 Taxes. 

(a)        Any and all payments by the Borrowers to or for the account
of any Agent or any Lender under any Loan Document shall be made free and clear of and without deduction for any and all present or future taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and all
liabilities with respect thereto, excluding, in the case of each Agent and each Lender, (1) taxes imposed on or measured by its overall net income, and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any
political subdivision thereof) under the Laws of which such Agent or such Lender, as the case may be, is organized or maintains a Lending Office, or to which such Agent or such Lender has a present or former connection (other than connections
arising from such recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan
Document, or sold or assigned an interest in any Loan or Loan Document), (2) in the case of a Lender, U.S. federal withholding taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or
Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrowers under Section 11.16) or (ii) such Lender
changes its lending office, except in each case to the extent that, pursuant to this Section 3.01, amounts with respect to such taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to
such Lender immediately before it changed its lending office, (3) any U.S. federal withholding taxes imposed under FATCA, and (4) taxes attributable to any Lender’s or the Paying Agent’s failure to comply with
Section 3.01(d) (all such non-excluded taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and liabilities being hereinafter referred to as “Taxes”).
If any Borrower shall be required by any Laws to deduct any Taxes from or in respect of any sum payable under any Loan Document to any Agent or any Lender, (i) the sum payable by such Borrower shall be increased as necessary so that after
making all required deductions (including deductions applicable to additional sums payable under this Section 3.01), each of such Agent and such Lender receives an amount equal to the sum it would have received had no such deductions been made,
(ii) the Agent or such Borrower shall make such deductions, (iii) the Agent or such Borrower shall pay the full amount deducted to the relevant taxation authority or other authority in accordance with applicable Laws, and (iv) such
Borrower shall furnish to the Paying Agent (which shall forward the same to such Agent or such Lender, as 

  
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the case may be) the original or a certified copy of a receipt evidencing payment thereof to the extent such a receipt is issued therefor, or other written proof of payment thereof that is
reasonably satisfactory to the Paying Agent. 
 (b)        In
addition, each Borrower agrees to pay any and all present or future stamp, court or documentary taxes and any other excise or property taxes or charges or similar levies which arise from any payment made under any Loan Document or from the
execution, delivery, performance, enforcement or registration of, or otherwise with respect to, any Loan Document (hereinafter referred to as “Other Taxes”). 

(c)        Each Borrower agrees to indemnify each Agent and each
Lender for (i) the full amount of Taxes and Other Taxes (including any Taxes or Other Taxes imposed or asserted by any jurisdiction on amounts payable under this Section 3.01) paid by, or required to be deducted or
withheld from a payment to, such Agent and such Lender and (ii) any liability (including additions to tax, penalties, interest and expenses) arising therefrom or with respect thereto. Payment under this Section 3.01(c)
shall be made within thirty (30) days after the date such Lender or such Agent makes a demand therefor. A certificate as to the amount of such payment or liability delivered to Timken by a Lender (with a copy to the Paying Agent), or by an
Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

(d)        (i) Any Lender that is entitled to an exemption from or
reduction of withholding tax with respect to payments made under any Loan Document shall deliver to Timken and the Paying Agent, at the time or times reasonably requested by Timken or the Paying Agent, such properly completed and executed
documentation reasonably requested by Timken or the Paying Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by Timken or the Paying Agent, shall
deliver such other documentation prescribed by applicable Law or reasonably requested by Timken or the Paying Agent as will enable the Borrowers or the Paying Agent to determine whether or not such Lender is subject to backup withholding or
information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in paragraphs (A), (B) and
(D) of Section 3.01(d)(ii)) shall not be required if in the Lender’s reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the
legal or commercial position of such Lender. 
 (ii)        Without
limiting the generality of the foregoing, 
 (A)        any Lender
that is a U.S. Person shall deliver to Timken and the Paying Agent on or about the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of Timken or the Paying Agent), executed
copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding tax; 

(B)        any Lender that is not a U.S. Peron (a “Foreign
Lender”) shall, to the extent it is legally entitled to do so, deliver to Timken and the Paying Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Lender becomes a Lender under
this Agreement (and from time to time thereafter upon the reasonable request of Timken or the Paying Agent), whichever of the following is applicable: 

  
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 (1)    in the case of a Foreign Lender
claiming the benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding tax pursuant to the “interest” article of such tax treaty and (y) with
respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption
from, or reduction of, U.S. federal withholding tax pursuant to the “business profits” or “other income” article of such tax treaty; 

(2)    executed copies of IRS Form W-8ECI; 

(3)    in the case of a Foreign Lender claiming the benefits of the exemption for
portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit L-1 to the effect that such Foreign Lender is not a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrowers within the meaning of Section 871(h)(3)(B) of the Code, or a “controlled foreign corporation” related to the Borrowers as described in
Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS Form W 8BEN-E; or 

(4)    to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS
Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W 8BEN-E, a U.S.
Tax Compliance Certificate substantially in the form of Exhibit L-2 or Exhibit L-3, IRS Form W-9, or other certification
documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may
provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit L-4 on behalf of each such direct and indirect partner; 

(C)        any Foreign Lender shall, to the extent it is legally
entitled to do so, deliver to Timken and the Paying Agent (in such number of copies as shall be requested by the recipient) on or about the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter
upon the reasonable request of Timken or the Paying Agent), executed copies of any other form prescribed by applicable Law as a basis for claiming exemption from or a reduction in U.S. federal withholding tax, duly completed, together with such
supplementary documentation as may be prescribed by applicable Law to permit the Borrowers or the Paying Agent to determine the withholding or deduction required to be made; and 

(D)        if a payment made to a Lender under any Loan Document
would be subject to U.S. federal withholding tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable),
such Lender shall deliver to Timken and the Paying Agent at the time or times prescribed by Law and at such time or times reasonably requested by Timken or 

  
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the Paying Agent such documentation prescribed by applicable Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by
Timken or the Paying Agent as may be necessary for Timken and the Paying Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount, if
any, to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any
respect, it shall update such form or certification or promptly notify Timken and the Paying Agent in writing of its legal inability to do so. 

(e)        Unless required by applicable Law, at no time shall an
Administrative Agent have any obligation to file for or otherwise pursue on behalf of a Lender, or have any obligation to pay to any Lender, any refund of taxes withheld or deducted from funds paid for the account of such Lender. If any party
determines, in its sole discretion exercised in good faith, that it has received a refund of any taxes as to which it has been indemnified pursuant to this Section (including by the payment of additional amounts pursuant to this Section), it
shall pay to the indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying
party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (e) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the
event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (e), in no event will the indemnified party be required to pay any amount to an
indemnifying party pursuant to this paragraph (e) the payment of which would place the indemnified party in a less favorable net after-tax position than the indemnified party would have been in if the tax
subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such tax had never been paid. This paragraph shall not be construed
to require any indemnified party to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the indemnifying party or any other Person. 

(f)        If any Lender requires a Borrower to pay any Taxes or
additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, then such Lender shall (at the request of the applicable Borrower) use reasonable efforts to designate a
different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment
(i) would eliminate or reduce amounts payable pursuant to Section 3.01, as the case may be, in the future, and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Lender. Timken hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment conducted at a Borrower’s request. 

 

	 	3.02	 Illegality. 

If any Lender reasonably determines that the introduction of or Change in Law has made it unlawful, or that any Governmental
Authority has asserted that it is unlawful, for any Lender or its 

  
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applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to a Relevant Rate, or to determine or charge interest rates based upon a Relevant Rate or to
purchase or sell, or to take deposits of, any Committed Currency in the applicable interbank market, then, upon notice thereof by such Lender to Timken (through the Agents), (a) any obligation of such Lender to make or maintain Committed Currency
Loans in the affected currency or currencies or, in the case of Loans denominated in Dollars, to make or maintain Term SOFR Loans or to convert Base Rate Loans to Term SOFR Loans shall be, in each case, suspended, and (b) if such notice asserts
the illegality of such Lender making or maintaining Base Rate Loans the interest rate on which is determined by reference to the Term SOFR component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to
avoid such illegality, be determined by the Paying Agent without reference to the Term SOFR component of the Base Rate, in each case until such Lender notifies the Agents and Timken that the circumstances giving rise to such determination no longer
exist. Upon receipt of such notice, (i) the Borrowers shall, upon demand from such Lender (with a copy to the Agents), prepay all Term SOFR Loans or Committed Currency Loans, as applicable, in the affected currency or currencies or, if
applicable and such Loans are denominated in Dollars, convert all Term SOFR Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Paying
Agent without reference to the Term SOFR component of the Base Rate), in each case, immediately, or, in the case of Term SOFR Loans or Committed Currency Term Rate Loans, on the last day of the Interest Period therefor if such Lender may lawfully
continue to maintain such Term SOFR Loans or Committed Currency Term Rate Loans to such day and (ii) if such notice asserts the illegality of such Lender determining or charging interest rates based upon SOFR, the Paying Agent shall during the
period of such suspension compute the Base Rate applicable to such Lender without reference to the Term SOFR component thereof until the Paying Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or
charge interest rates based upon SOFR. Each Lender agrees to notify the Paying Agent and Timken in writing promptly upon becoming aware that it is no longer illegal for such Lender to determine or charge interest rates based upon the Committed
Currency Daily Rate, Commitment Currency Term Rate or SOFR, as applicable. Notwithstanding the foregoing and despite the illegality for such a Lender to make, maintain or fund Committed Currency Loans, Term SOFR Loans or Base Rate Loans as to which
the interest rate is determined with reference to Term SOFR, that Lender shall remain committed to make Base Rate Loans and shall be entitled to recover interest at the Base Rate (without giving effect to clause (c) thereof). Upon any such
prepayment or conversion, the Borrowers shall also pay accrued interest on the amount so prepaid or converted, together with any additional amounts required pursuant to Section 3.05. Each Lender agrees to designate a
different Lending Office if such designation will avoid the need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such Lender. 

 

	 	3.03	 Inability to Determine Rates. 

(a)        Subject to clause (b) below, if in connection with any
request for a Term SOFR Loan or a Committed Currency Loan or a conversion of Base Rate Loans to Term SOFR Loans or a continuation of any of such Loans, as applicable, adequate and reasonable means do not exist for determining the Relevant Rate for
the applicable Agreed Currency for any determination date(s) or requested Interest Period, as applicable, with respect to a proposed Term SOFR Loan or a Committed Currency Loan or in connection with an existing or proposed Base Rate Loan, or
(ii) the Agents or the Required Lenders determine that for any reason that the Relevant Rate with respect to a proposed Loan denominated in an Agreed Currency for any requested Interest Period or determination date(s) does not adequately and
fairly reflect the cost to such Lenders of funding such Loan, the Paying Agent will promptly so notify Timken and each Lender. 

Thereafter, (x) the obligation of the Lenders to make or maintain Loans in the affected currencies, as
applicable, or to convert Base Rate Loans to Term SOFR Loans, shall be suspended 

  
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in each case to the extent of the affected Term SOFR Loans, Committed Currency Loans or Interest Period or determination date(s), as applicable, and (y) in the event of a determination
described in the preceding sentence with respect to the Term SOFR component of the Base Rate, the utilization of the Term SOFR component in determining the Base Rate shall be suspended, in each case until the Paying Agent (or, in the case of a
determination by the Required Lenders described in clause (ii) of this Section 3.03(a), until the Paying Agent upon instruction of the Required Lenders) revokes such notice. 

Upon receipt of such notice, (i) the Borrowers may revoke any pending request for a Borrowing of, continuation of, or
conversion to Term SOFR Loans, or Borrowing of, or continuation of Committed Currency Loans to the extent of the affected Loans or Interest Period or determination date(s), as applicable or, failing that, will be deemed to have converted such
request into a request for a Borrowing of Base Rate Loans denominated in Dollars in the Equivalent in Dollars of the amount specified therein and (ii) (A) any outstanding Term SOFR Loans shall be deemed to have been converted to Base Rate Loans
immediately at the end of the applicable Interest Period and (B) any outstanding affected Committed Currency Loans, at Timken’s election, shall either (1) be converted into a Borrowing of Base Rate Loans denominated in Dollars in the
Equivalent in Dollars of the amount of such outstanding Committed Currency Loan immediately, in the case of a Committed Currency Daily Rate Loan or at the end of the applicable Interest Period, in the case of a Committed Currency Term Rate Loan or
(2) be prepaid in full immediately, in the case of a Committed Currency Daily Rate Loan, or at the end of the applicable Interest Period, in the case of a Committed Currency Term Rate Loan; provided that if no election is made by Timken
(x) in the case of a Committed Currency Daily Rate Loan, by the date that is three (3) Business Days after receipt by Timken of such notice or (y) in the case of a Committed Currency Term Rate Loan, by the last day of the current
Interest Period for the applicable Committed Currency Term Rate Loan, Timken shall be deemed to have elected clause (1) above. 

(b)        Benchmark Replacement. 

(i)        Notwithstanding anything to the contrary herein or in any
other Loan Document, if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause (x)(a) of
the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and
subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with clause (x)(b) or clause
(y) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at
or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment to, or further action
or consent of any other party to, this Agreement or any other Loan Document so long as the Paying Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders. If the
Benchmark Replacement is Daily Simple SOFR plus the SOFR Adjustment, all interest payments will be payable on a monthly basis. No replacement of a Benchmark in a Committed Currency with a Benchmark Replacement pursuant to this
Section 3.03(b)(i) will occur prior to the applicable Benchmark Transition Start Date. 

  
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(ii)        Benchmark Replacement Conforming Changes. In
connection with the use, administration, adoption or implementation of a Benchmark Replacement, the Paying Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other
Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. 

(iii)        Notices; Standards for Decisions and
Determinations. The Paying Agent will promptly notify Timken and the Lenders of (A) the implementation of any Benchmark Replacement and (B) the effectiveness of any Conforming Changes in connection with the use, administration,
adoption or implementation of a Benchmark Replacement. The Paying Agent will notify the Borrower of (x) the removal or reinstatement of any tenor of a Benchmark pursuant to Section 3.03(b)(iv) and (y) the
commencement of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Paying Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section 3.03(b),
including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or
any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required
pursuant to this Section 3.03(b). 

(iv)        Unavailability of Tenor of Benchmark.
Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (I) if the then-current Benchmark is a term rate (including Term SOFR Screen
Rate or a Committed Currency Term Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Paying Agent in its reasonable
discretion or (B) the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is not or will not be representative, then the Paying
Agent may modify the definition of “Interest Period” (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor
and (II) if a tenor that was removed pursuant to clause (I) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject
to an announcement that it is not or will not be representative for a Benchmark (including a Benchmark Replacement), then the Paying Agent may modify the definition of “Interest Period” (or any similar or analogous definition) for all
Benchmark settings at or after such time to reinstate such previously removed tenor. 

(v)        Benchmark Unavailability Period. Upon Timken’s
receipt of notice of the commencement of a Benchmark Unavailability Period with respect to a given Benchmark, (A) the applicable Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Term SOFR Loans or
Committed Currency Loans to be made, converted or continued during any Benchmark Unavailability Period denominated in the applicable Agreed Currency and, failing that, (I) in the case of any request for any affected Term SOFR Loans, if
applicable, the applicable Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Loans in the amount specified therein and (II) in the case of any request for any affected
Committed Currency Loan, then such request shall be ineffective and (B)(I) any 

  
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outstanding affected Term SOFR Loans, if applicable, will be deemed to have been converted into Base Rate Loans at the end of the applicable Interest Period and (II) any outstanding affected
Committed Currency Loans, at the applicable Borrower’s election, shall either (1) be converted into Base Rate Loans denominated in Dollars (in an amount equal to the Equivalent in Dollars of such Committed Currency) immediately or, in the
case of Committed Currency Term Rate Loans, at the end of the applicable Interest Period or (2) be prepaid in full immediately or, in the case of Committed Currency Term Rate Loans, at the end of the applicable Interest Period; provided
that, with respect to any Committed Currency Daily Rate Loan, if no election is made by the applicable Borrower by the date that is three (3) Business Days after receipt by the applicable Borrower of such notice, the applicable Borrower shall
be deemed to have elected clause (1) above; provided, further that, with respect to any Committed Currency Term Rate Loan, if no election is made by the applicable Borrower by the earlier of (x) the date that is three
(3) Business Days after receipt by the applicable Borrower of such notice and (y) the last day of the current Interest Period for the applicable Committed Currency Term Rate Loan, the applicable Borrower shall be deemed to have elected
clause (1) above. During a Benchmark Unavailability Period with respect to any Benchmark or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Base Rate based upon the then-current Benchmark
that is the subject of such Benchmark Unavailability Period or such tenor for such Benchmark, as applicable, will not be used in any determination of the Base Rate. 

(c)        For purposes of this
Section 3.03, those Lenders that do not have an obligation under this Agreement to make the relevant Loans in the relevant Committed Currency shall be excluded from any determination of Required Lenders. 

 

	 	3.04	 Increased Cost and Reduced Return; Capital Adequacy. 

(a)        If any Lender determines that as a result of the
introduction of or any Change in Law or such Lender’s compliance therewith, there shall be any increase in the cost to such Lender of agreeing to make or making, funding or maintaining any Loan the interest on which is determined by reference
to Term SOFR, the Committed Currency Daily Rate or the Committed Currency Term Rate or (as the case may be) issuing or participating in Letters of Credit, or a reduction in the amount received or receivable by such Lender in connection with any of
the foregoing (excluding for purposes of this Section 3.04(a) any such increased costs or reduction in amount resulting from (i) Taxes or Other Taxes (as to which Section 3.01 shall govern)
and (ii) taxes excluded from the definition of “Taxes” set forth in Section 3.01), then from time to time upon demand of such Lender (with a copy of such demand to the Paying Agent), Timken shall pay (or
cause the applicable Designated Borrower to pay) to such Lender such additional amounts as will compensate such Lender for such increased cost or reduction; provided, that such Lender shall be generally seeking, or intending generally to
seek, comparable compensation from similarly situated borrowers under similar credit facilities (to the extent such Lender has the right under such credit facilities to do so) in similar circumstances. 

(b)        If any Lender reasonably determines that the introduction
of any Change in Law regarding capital adequacy or liquidity or any change therein or in the interpretation thereof, or compliance by such Lender (or its Lending Office) therewith, has the effect of reducing the rate of return on the capital of such
Lender or any corporation controlling such Lender as a consequence of such Lender’s obligations hereunder (taking into consideration its policies with respect to capital adequacy and such Lender’s desired return on capital), then from time
to time upon demand of such Lender (with a copy of such demand to the Paying Agent), Timken shall pay (or cause the 

  
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applicable Designated Borrower to pay) to such Lender such additional amounts as will compensate such Lender for such reduction; provided, that such Lender shall be generally seeking, or
intending generally to seek, comparable compensation from similarly situated borrowers under similar credit facilities (to the extent such Lender has the right under such credit facilities to do so) in similar circumstances. 

 

	 	3.05	 Funding Losses. 

(a)      Upon demand of any Lender (with a copy to the Paying Agent) from time
to time, Timken shall promptly compensate (or cause the applicable Designated Borrower to compensate) such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 

(i)    any continuation, conversion, payment or prepayment of any Term SOFR Loan or
Committed Currency Term Rate Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 

(ii)    any failure by any Borrower (for a reason other than the failure of such Lender
to make a Loan) to prepay, borrow, continue or convert any Term SOFR Loan or Committed Currency Term Rate Loan on the date or in the amount notified by Timken; 

(iii)    any assignment of a Term SOFR Loan or a Committed Currency Term Rate Loan on a
day other than the last day of the Interest Period therefor as a result of a request by Timken pursuant to Section 11.16; or 

(iv)    any failure by any Borrower to make any payment of any Loan or drawing under any
Letter of Credit (or interest due thereof) denominated in a Committed Currency on its scheduled due date or any payment thereof in a different currency; 

excluding any loss of anticipated profits but including any loss or expense arising from the liquidation or reemployment of funds obtained by
it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. Timken shall also pay (or cause the applicable Designated Borrower to pay) any customary administrative fees charged by such Lender in
connection with the foregoing. 
 (b)        [Reserved]. 

(c)        For purposes of calculating amounts payable by Timken (or
the applicable Designated Borrower) to the Lenders or the Paying Agent under this Section 3.05, each Lender shall be deemed to have funded each Committed Currency Term Rate Loan made by it at the Committed Currency Term
Rate for such Loan by a matching deposit or other borrowing in the offshore interbank market for such currency for a comparable amount and for a comparable period, whether or not such Committed Currency Term Rate Loan was in fact so funded. 

The Lenders (to the extent party to the Existing Credit Agreement and/or the Existing Term Loan Agreement) hereby waive any requirement of the
Borrower to provide compensation pursuant to Section 3.05 of the Existing Credit Agreement, Section 3.05 of the Existing Term Loan Agreement and this Section 3.05 solely in connection with any such obligation to
provide compensation that would result from borrowings, continuations, prepayments, and other payments occurring in connection with the Borrowing of any Revolving Credit Loans or Term Loans on the Closing Date or compliance with the conditions of
Section 5.01(f). 

  
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	 	3.06	 Matters Applicable to All Requests for Compensation. 

(a)        A certificate of any Agent or any Lender claiming
compensation under this Article III and setting forth a statement of reasons for such demand and the calculation of such additional amount or amounts to be paid to it hereunder in reasonable detail, and shall be conclusive in the absence of
manifest error; provided, however, that no Agent or Lender may seek compensation under this Article III more than sixty (60) days after such Agent or Lender had actual knowledge that such amount or amounts were payable
under this Article III. In determining such amount, such Agent or such Lender may use any reasonable averaging and attribution methods. 

(b)      Upon any Lender’s making a claim for compensation under
Section 3.01 or 3.04, Timken may replace such Lender in accordance with Section 11.16. 
  

	 	3.07	 Survival. 

All of the Borrowers’ obligations under this Article III shall survive termination of the Aggregate Commitments and
repayment of all other Obligations hereunder. 
 ARTICLE IV 

[RESERVED] 
 ARTICLE V

 CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 
  

	 	5.01	 Conditions of Initial Credit Extension. 

The obligation of the L/C Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of
the following conditions precedent: 
 (a)        The Co-Administrative Agents’ receipt of the following, each of which shall be originals or telecopies (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of
Timken, if applicable, each dated such date (or, in the case of certificates of governmental officials, a recent date before such date) and each in form and substance satisfactory to the Co-Administrative
Agents and the Lenders: 
 (i)        executed counterparts of this
Agreement, sufficient in number for distribution to each Agent, each Lender and Timken; 

(ii)        a Note executed by Timken in favor of each Lender
requesting a Note; 
 (iii)   such certificates of resolutions or other action, incumbency
certificates and/or other certificates of Responsible Officers of Timken as the Co-Administrative Agents and the Lenders may reasonably require evidencing the identity, authority and capacity of each
Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan Documents to which Timken is a party or is to be a party; 

  
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 (iv)    such documents and
certifications as the Co-Administrative Agents and the Lenders may reasonably require to evidence that Timken is duly organized or formed, and that Timken is validly existing and in good standing in its
jurisdiction of organization; 
 (v)    a favorable opinion of Jones Day, counsel to
Timken, addressed to the Co-Administrative Agents and each Lender, in form and substance reasonably satisfactory to the Co-Administrative Agents; 

(vi)    a certificate of a Responsible Officer of Timken either (A) attaching copies
of all consents, licenses and approvals required in connection with the execution, delivery and performance by Timken and the validity against Timken of the Loan Documents to which it is a party, and such consents, licenses and approvals shall be in
full force and effect, or (B) stating that no such consents, licenses or approvals are so required; 

(vii)    a certificate signed by a Responsible Officer of Timken certifying (A) that
the representations and warranties of Timken contained in Article VI or any other Loan Document, or which are contained in any document furnished by Timken at any time under or in connection herewith or therewith, are true and correct in all
material respects (except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty shall be true and correct in all respects as qualified thereby) on and as
such date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date, (B) that the condition specified in
Section 5.02(b) has been satisfied and (C) that there has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to have, either individually or in
the aggregate, a Material Adverse Effect; 
 (viii)    a certificate attesting to the
Solvency of Timken and its Subsidiaries on a consolidated basis, after giving effect to the consummation of the transaction contemplated hereby, from Timken’s Chief Financial Officer; 

(ix)    (A) Upon the reasonable request of any Lender made at least ten (10) days
prior to the Closing Date, Timken shall have provided to such Lender, and such Lender shall be reasonably satisfied with, the documentation and other information so requested in connection with applicable “know your customer” and
anti-money-laundering rules and regulations, including, without limitation, the PATRIOT Act, in each case at least three (3) days prior to the Closing Date, and (B) at least three (3) days prior to the Closing Date, if any Borrower
qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, it shall deliver, to each Lender that so requests, a Beneficial Ownership Certification; and 

(x)    such other assurances, certificates, documents, consents or opinions as the Co-Administrative Agents may reasonably require. 

(b)        All fees required to be paid by Timken in connection with
the Loan Documents on or before the Closing Date shall have been paid in full. 

(c)        All accrued reasonable and documented out-of-pocket expenses of the Co-Administrative Agents reimbursable pursuant to Section 11.04 hereof, including, without

  
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limitation, Attorney Costs for which Timken has received a reasonably detailed invoice at least five (5) days prior to the Closing Date, shall have been paid in full. 

(d)    The absence of any action, suit, investigation or proceeding pending or, to the
knowledge of Timken, threatened in any court or before any arbitrator or Governmental Authority that could reasonably be expected to have a Material Adverse Effect. 

(e)    There shall not have occurred a material adverse change in, or material adverse
effect upon, the business or financial condition of Timken and its Subsidiaries taken as a whole since December 31, 2021. 

(f)    The Agents shall have received evidence that the Borrowers shall have (or
concurrently with the initial credit extensions to be made on the Closing Date will have) (i) (A) paid all accrued and unpaid interest on the outstanding Loans (as defined in the Existing Credit Agreement) through the Closing Date,
(B) repaid in full any Loans (as defined in the Existing Credit Agreement) outstanding immediately prior to the Closing Date and (C) paid all accrued facility and letter of credit fees owing to the existing lenders under the Existing
Credit Agreement through the Closing Date and (ii) repaid in full and terminated the Existing Term Loan Agreement. 
 Without limiting
the generality of the provisions of the last paragraph of Section 10.03, for purposes of determining compliance with the conditions specified in this Section 5.01, each Lender that has signed this
Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Co-Administrative Agents shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto. 
  

	 	5.02	 Conditions to all Credit Extensions. 

The obligation of each Lender to honor any Request for Credit Extension (other than a Committed Loan Notice requesting only a
conversion of Loans to the other Type, or a continuation of Term SOFR Loans or Committed Currency Term Rate Loans) is subject to the following conditions precedent: 

(a)      The representations and warranties of Timken contained in Article VI
(other than Sections 6.05(c), 6.06 and 6.09) or any other Loan Document, or which are contained in any document furnished by Timken at any time under or in connection herewith or therewith, shall be true and correct in all
material respects (except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, which such representation and warranty shall be true and correct in all respects as qualified thereby) on and as
of the date of such Credit Extension, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date, and except that
for purposes of this Section 5.02, the representations and warranties contained in subsections (a) and (b) of Section 6.05 shall be deemed to refer to the most recent statements
furnished pursuant to subsections (a) and (b), respectively, of Section 7.01. 

(b)      No Default shall exist, or would result from such proposed Credit
Extension or from the application of the proceeds thereof. 
 (c)      The
Paying Agent and, if applicable, the L/C Issuer or the Swing Line Lender shall have received a Request for Credit Extension in accordance with the requirements hereof. 

  
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 (d)      If the Request for
Credit Extension is made by or on behalf of any Designated Borrower, then the conditions of Section 2.17 to the designation of such Designated Borrower shall have been met to the satisfaction of the Co-Administrative Agents. 
 (e)    In the case of a
Credit Extension to be denominated in a Committed Currency, such currency remains an Eligible Currency. 
 Each Request for
Credit Extension (other than a Committed Loan Notice requesting only a conversion of Loans to the other Type or a continuation of Term SOFR Loans or Committed Currency Term Rate Loans) submitted by Timken shall be deemed to be a representation and
warranty that the conditions specified in Sections 5.02(a) and 5.02(b) have been satisfied on and as of the date of the applicable Credit Extension. 

ARTICLE VI 

REPRESENTATIONS AND WARRANTIES 

Timken represents and warrants to the Agents and the Lenders that: 

 

	 	6.01	 Existence, Qualification and Power; Compliance with Laws. 

Each Loan Party (a) is a corporation, partnership or limited liability company duly organized or formed, validly existing
and in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its
assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party and (c) is duly qualified and is licensed and in good standing under the Laws of each jurisdiction where
its ownership, lease or operation of properties or the conduct of its business requires such qualification or license; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so would not reasonably be expected to
have a Material Adverse Effect. 
  

	 	6.02	 Authorization; No Contravention. 

The execution, delivery and performance by each Loan Party of each Loan Document to which such Person is a party are within
such Loan Party’s corporate or other powers, have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of such Person’s Organization Documents;
(b) conflict with or result in any breach or contravention of, or the creation of any Lien (except for any Liens that may arise under the Loan Documents) under, or require any payment to be made under (i) any material Contractual
Obligation to which such Person is a party or affecting such Person or the properties of such Person or any of its Subsidiaries or (ii) except as would not be reasonably likely to have a Material Adverse Effect, any order, injunction, writ or
decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) except as would not be reasonably likely to have a Material Adverse Effect, violate any Law. 

 

	 	6.03	 Governmental Authorization; Other Consents. 

No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority
or any other Person (other than filings under the Securities Exchange Act of 1934 and the rules and regulations of the SEC promulgated thereunder) by any Loan Party is necessary or required in connection with the execution, delivery or performance
by, or enforcement or exercise of rights 

  
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or remedies against, any Loan Party of this Agreement or any other Loan Document, except for those that have already been obtained. 

 

	 	6.04	 Binding Effect. 

This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and delivered
by each Loan Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with
its terms, except as such enforceability may be limited by (a) bankruptcy, insolvency, reorganization, moratorium or similar or laws of general applicability affecting the enforcement of creditors’ rights and (b) the application of
general principles of equity. 
  

	 	6.05	 Financial Statements; No Material Adverse Effect. 

(a)        The Audited Financial Statements (i) were prepared in
accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present, in all material respects, the financial condition of Timken and its Subsidiaries as of the date
thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and
other liabilities, direct or contingent, of Timken and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness, to the extent required by GAAP. 

(b)        The unaudited consolidated financial statements of Timken
and its Subsidiaries dated September 30, 2022, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for the fiscal quarter ended on that date (i) have been prepared in accordance with
GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present, in all material respects, the financial condition of Timken and its Subsidiaries as of the date thereof and
their results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments. 

(c)        Since the date of the Audited Financial Statements, there
has been no event or circumstance, either individually or in the aggregate, that has had or would reasonably be expected to have a Material Adverse Effect. 
  

	 	6.06	 Litigation. 

There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of Timken, threatened at law, in
equity, in arbitration or before any Governmental Authority, by or against Timken or any of its Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan Document, or
(b) either individually or in the aggregate would reasonably be expected to have a Material Adverse Effect. 
  

	 	6.07	 No Default. 

Neither Timken nor any Subsidiary is in default under or with respect to any Contractual Obligation where such default, either
individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

  
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	 	6.08	 Ownership of Property. 

Each Loan Party and each of its Subsidiaries has good record and valid title in fee simple to, or valid leasehold interests
in, all real property necessary and used in the ordinary conduct of its business, except for such defects in title as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

 

	 	6.09	 Environmental Compliance. 

Except as otherwise set forth on Schedule 6.09, Timken and its Subsidiaries conduct in the ordinary course of business
a review of the effect of existing Environmental Laws and known Environmental Liabilities on their respective businesses, operations and properties, and as a result thereof Timken has reasonably concluded that such Environmental Laws and known
Environmental Liabilities, would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
  

	 	6.10	 Taxes. 

Timken and its Subsidiaries have filed all federal and material state income tax returns and other material tax returns and
reports required to be filed, and have paid all federal, material state and other material taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except
those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP. There is no proposed tax assessment against Timken or any Subsidiary that
would, if made, have a Material Adverse Effect. As of the Closing Date, neither any Loan Party nor any of its Subsidiaries is party to any tax sharing agreement, except for (i) tax sharing agreements solely among any of the Loan Parties and
(ii) the tax sharing agreement by and between Timken and TimkenSteel Corporation dated June 30, 2014. 
  

	 	6.11	 Pension Plans. 

(a)        Except as set forth on Schedule 6.11 hereto,
(i) neither Timken nor any Loan Party has incurred any withdrawal liability (within the meaning of Part 1 of Subtitle E of Title IV of ERISA) with respect to any Multiemployer Plan, (ii) no Loan Party has incurred any liability under
Section 502(i) of ERISA or Section 4975 of the Code with respect to the Plans, (iii) no ERISA Event has occurred and neither Timken nor any ERISA Affiliate is aware of any fact, event or circumstance that would reasonably be expected
to constitute or result in an ERISA Event, (iv) neither Timken nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under Section 4219 of ERISA,
would result in such liability) under Section 4201 of ERISA with respect to a Multiemployer Plan, (v) neither Timken nor any ERISA Affiliate has engaged in a transaction that could be subject to Sections 4069 or 4212(c) of ERISA,
(vi) each Plan is in material compliance with the applicable provisions of ERISA, the Code and other Federal or state Laws, (vii) each Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a
favorable determination letter from the IRS to the effect that the form of such Plan is qualified under Section 401(a) of the Code and the trust related thereto has been determined by the IRS to be exempt from federal income tax under
Section 501(a) of the Code or an application for such a letter is currently being processed by the IRS, (viii) Timken and each ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension
Plan, and no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or obtained, except, with respect to subsections (i) through (viii) above, as would not, in the aggregate, reasonably be expected to
result in a Material Adverse Effect. 

  
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 (b)        There are
no pending or, to the knowledge of Timken, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that would reasonably be expected to have a Material Adverse Effect. 

(c)        Timken represents and warrants as of the Closing Date that
Timken is not and will not be using “plan assets” (within the meaning of 29 C.F.R. § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the
Loans, the Letters of Credit or the Commitments. 
  

	 	6.12	 Margin Regulations; Investment Company Act. 

(a)        Timken is not engaged and will not engage, principally or
as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. 

(b)        None of Timken, any Person Controlling Timken, or, after
the Springing Guaranty Date, any Guarantor is or is required to be registered as an “investment company” under the Investment Company Act of 1940. 
  

	 	6.13	 Disclosure. 

As of the Closing Date, no written report, financial statement, certificate or other information (other than projections,
other forward-looking information or information of a general economic nature) furnished by or on behalf of any Loan Party to any Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or
delivered hereunder or under any other Loan Document (when taken together, and as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not materially misleading; provided that, with respect to projected financial information provided by Timken or that is otherwise described on Schedule
6.13, Timken represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time in light of the circumstances under which they were made. 

 

	 	6.14	 Compliance with Laws. 

Each Loan Party and each Subsidiary is in compliance in all material respects with the requirements of all Laws and all
orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings
diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. 
  

	 	6.15	 OFAC; Sanctions. 

Neither Timken, nor any of its Subsidiaries, nor, to the knowledge of Timken and its Subsidiaries, any director, officer,
controlled affiliate, agent, advisor, employee or representative thereof, is an individual or entity that is, or is owned or controlled by any individual or entity that is (i) currently an individual or entity with whom dealings are prohibited
under any Sanctions, (ii) included on OFAC’s List of Specially Designated Nationals or any other replacement official publication of such list or (iii) located, organized or resident in a Designated Jurisdiction. Timken and its
Subsidiaries have conducted their businesses in compliance with all applicable Sanctions and have instituted and maintained policies and procedures designed to promote and achieve compliance with such Sanctions. 

  
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	 	6.16	 Anti-Corruption Laws. 

Timken and its Subsidiaries and, to their knowledge, their respective directors, officers, employees, agents, advisors and
affiliates have conducted their businesses in material compliance with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 and other similar anti-corruption legislation in other jurisdictions and have instituted and
maintained policies and procedures designed to promote compliance with such laws. 
  

	 	6.17	 Affected Financial Institution. 

No Loan Party is an Affected Financial Institution. 
  

	 	6.18	 Beneficial Ownership Certification. 

As of the Closing Date, to the knowledge of the Borrowers, the information included in any Beneficial Ownership Certification,
if applicable, is true and correct in all respects. 
 ARTICLE VII 

AFFIRMATIVE COVENANTS 

Until such time as the Obligations have been Fully Satisfied, Timken shall, and shall (except in the case of the covenants set
forth in Sections 7.01, 7.02 and 7.03) cause each Subsidiary to: 
  

	 	7.01	 Financial Statements. 

Deliver to each Agent and each Lender, in form and detail satisfactory to the
Co-Administrative Agents: 

(a)        within ninety (90) days after the end of each fiscal
year of Timken, a consolidated balance sheet of Timken and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year, setting
forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of either a
Pre-Approved Accounting Firm or another independent certified public accountant of nationally recognized standing selected by Timken and reasonably acceptable to the Required Lenders, which report and opinion
shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit; and 

(b)        within forty-five (45) days after the end of each of
the first three fiscal quarters of each fiscal year of Timken, a consolidated balance sheet of Timken and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated statements of income or operations, shareholders’
equity and cash flows for such fiscal quarter and for the portion of Timken’s fiscal year then ended, all in reasonable detail and certified by a Responsible Officer of Timken as fairly presenting the financial condition, results of operations,
shareholders’ equity and cash flows of Timken and its Subsidiaries, which shall have been prepared in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes.

  
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 In lieu of furnishing to the Paying Agent paper or electronic copies of the
documents required to be delivered pursuant to Sections 7.01(a) and 7.01(b), to the extent such documents are filed with the SEC, the documents shall be deemed to have been delivered on the date on which Timken posts such documents on
its website or on the SEC’s EDGAR system. Notwithstanding the foregoing, Timken shall deliver paper or electronic copies of such documents to any Lender that requests Timken to deliver such paper or electronic copies.

 

	 	7.02	 Certificates; Other Information. 

Deliver to the Paying Agent (who will make available to the Lenders), in form and detail satisfactory to the Co-Administrative Agents: 

(a)        concurrently with the delivery of the financial statements
referred to in Sections 7.01(a) and 7.01(b), a duly completed Compliance Certificate signed by a Responsible Officer of Timken; 

(b)        copies of all annual, regular, periodic and special reports
and registration statements which Timken have filed with the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934, or with any Governmental Authority that may be substituted therefor; 

(c)        promptly following any request therefor, information and
documentation reasonably requested by any Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the PATRIOT Act and the
Beneficial Ownership Regulation; and 
 (d)        promptly, such
additional information regarding the business, financial or corporate affairs of any Loan Party or any Subsidiary, or compliance with the terms of the Loan Documents, as any Agent or any Lender may from time to time reasonably request. 

In lieu of furnishing to the Paying Agent paper or electronic copies of the documents required to be delivered pursuant to
Section 7.02(b), to the extent such documents are filed with the SEC or posted on Timken’s website, the documents shall be deemed to have been delivered on the date on which Timken posts such documents on its website
or on the SEC’s EDGAR system. Notwithstanding the foregoing, Timken shall deliver paper or electronic copies of such documents to any Lender that requests Timken to deliver such paper or electronic copies. 

Notwithstanding anything contained herein, in every instance Timken shall be required to provide electronic copies of the
Compliance Certificates required by Section 7.02(a) to the Paying Agent (who will make such copies available to the Lenders). Except for such Compliance Certificates, the
Co-Administrative Agents shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by Timken
with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

Timken hereby acknowledges that (a) the Agents and/or Affiliates thereof will make available to the Lenders and the L/C
Issuer materials and/or information provided by or on behalf of Timken hereunder (collectively, the “Borrower Materials”) by posting Timken Materials on IntraLinks, Syndtrak, ClearPar, or a substantially similar electronic
transmission system (the “Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish to receive material non-public
information with respect to Timken or its Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Person’s securities.

  
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Timken hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, means
that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” Timken shall be deemed to have authorized the Agents, any Affiliate thereof, the L/C Issuer and the
Lenders to treat such Borrower Materials as not containing any material non-public information (although the parties acknowledge that such information may still be sensitive and/or proprietary) with respect to
Timken or its securities for purposes of United States Federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in
Section 11.08); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated as “Public Side Information;” and (z) the Agents and any
Affiliate thereof shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform that is not designated as “Public Side Information.” For purposes of
clarification, (i) any materials not marked “PUBLIC” shall be deemed to be material non-public information and (ii) notwithstanding the foregoing, Timken shall be under no obligation to
mark any particular Borrower Materials “PUBLIC.” 
  

	 	7.03	 Notices. 

Promptly after a Responsible Officer has knowledge thereof, notify each
Co-Administrative Agent (who shall provide such notice to each Lender): 

(a)        of the occurrence of any Default or Event of Default; and

 (b)        of any matter that has resulted or would reasonably be
expected to result in a Material Adverse Effect. 
 Each notice pursuant to subparts (a) and (b) of this
Section 7.03 shall be accompanied by a statement of a Responsible Officer of Timken setting forth details of the occurrence referred to therein and stating what action Timken has taken and proposes to take with respect
thereto. 
  

	 	7.04	 [Reserved]. 

 

	 	7.05	 Preservation of Existence, Etc. 

(a)        Preserve, renew and maintain in full force and effect its
legal existence and good standing under the Laws of the jurisdiction of its organization except in a transaction permitted by Section 8.04 or 8.05; and (b) take all reasonable action to maintain all rights,
privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so would not reasonably be expected to have a Material Adverse Effect. 

 

	 	7.06	 Maintenance of Properties. 

(a)        Maintain, preserve and protect all of its material
properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear and casualty and condemnation events excepted, except to the extent that the continued maintenance of such property is no
longer economically desirable as determined in good faith by Timken or in connection with any transaction not prohibited by Section 8.04 or Section 8.05; and 

(b)        make all necessary repairs thereto and renewals and
replacements thereof except where the failure to do so would not reasonably be expected to have a Material Adverse Effect. 

  
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	 	7.07	 Maintenance of Insurance. 

Maintain insurance with reputable insurance companies or maintain a self-insurance program, with respect to its properties and
business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts as are customarily carried under similar circumstances by such other Persons. 

 

	 	7.08	 Compliance with Laws. 

Comply in all material respects with the requirements of all Laws (including Environmental Laws) and all orders, writs,
injunctions and decrees applicable to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently
conducted; or (b) the failure to comply therewith would not reasonably be expected to have a Material Adverse Effect. 
  

	 	7.09	 Books and Records. 

Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP consistently
applied shall be made of all financial transactions and matters involving the assets and business of Timken or such Subsidiary, as the case may be. 
  

	 	7.10	 Inspection Rights. 

Within ten (10) Business Days of delivery of the notice referred to below, permit representatives and independent
contractors of each Agent and each Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with
its directors, officers, and independent public accountants, all at such reasonable times during normal business hours, upon reasonable advance written notice to Timken; provided, however, that unless an Event of Default has occurred
and is continuing at the time such inspection commences, (a) only the Co-Administrative Agents on behalf of the Lenders may exercise such inspection rights and (b) the
Co-Administrative Agents shall not exercise such rights more often than one time during any calendar year; provided, further, that notwithstanding anything to the contrary herein, none of Timken
or any of its Subsidiaries shall be required to disclose, permit the inspection, examination or making of copies of or taking abstracts from, or discuss any document, information or other matter (i) that constitutes non-financial trade secrets or non-financial proprietary information of Timken or any of its Subsidiaries and/or any of their respective customers and/or suppliers,
(ii) in respect of which disclosure to the Agents (or any Person acting on its behalf in connection with the foregoing) is prohibited by applicable law, (iii) that is subject to attorney-client or similar privilege or that constitutes
attorney work product or (iv) in respect of which Timken or any of its Subsidiaries owes confidentiality obligations to any third party (provided, that such confidentiality obligations were not entered into in contemplation of the requirements
of this Section 7.10); provided, however, that, with respect to clauses (iii) and (iv), Timken agrees to use commercially reasonable efforts to obtain waivers of such obligations or otherwise provide such
information that does not violate such obligations. 
  

	 	7.11	 Use of Proceeds. 

Use the proceeds of the Credit Extensions (a) for working capital, capital expenditures, Permitted Acquisitions and other
lawful corporate purposes, (b) to refinance the Existing Credit Agreement, (c) to repay the Existing Term Loan Agreement, (d) to repay Indebtedness under the Senior Notes and (e) to repay those certain 3.875% Senior Notes due
2024, in each case, not in contravention of any Law or of any Loan Document. 

  
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	 	7.12	 Covenant to Guarantee Obligations. 

At any time following the Springing Guaranty Date, Timken shall, at Timken’s expense: 

(i)    cause all Material Subsidiaries (other than (x) a special purpose entity
established to facilitate a securitization or other financing of accounts receivable or other assets of any Loan Party otherwise permitted hereunder (each a “Receivables Subsidiary”) or (y) any Excluded Subsidiary) within sixty
(60) days (or such later date as agreed by the Co-Administrative Agents in their sole discretion) after the Springing Guaranty Date, to duly execute and deliver to the
Co-Administrative Agents a Subsidiary Guaranty Agreement in substantially the same form as Exhibit G, Guaranteeing the other Loan Parties’ obligations under the Loan Documents, 

(ii)    upon (x) the formation or acquisition of any new direct or indirect Domestic
Subsidiary by any Loan Party that is a Material Subsidiary or (y) any existing direct or indirect Domestic Subsidiary of any Loan Party becoming a Material Subsidiary (for purposes of this clause (ii) as determined by the financial
statements delivered pursuant to Section 7.01(a) and (b)), cause such Material Subsidiary (other than (x) a Receivables Subsidiary or (y) any Excluded Subsidiary) within thirty (30) days (or such later
date as agreed by the Co-Administrative Agents in their sole discretion) after such formation or acquisition or becoming a Material Subsidiary, and cause each direct and indirect parent of such Material
Subsidiary (if it has not already done so), to duly execute and deliver to the Co-Administrative Agents a Joinder Agreement in substantially the same form as Exhibit F, guaranteeing the other Loan
Parties’ obligations under the Loan Documents, and 
 (iii)    within sixty
(60) days (or such later date as agreed by the Co-Administrative Agents in their sole discretion) after such formation or acquisition or becoming a Material Subsidiary, deliver to the Co-Administrative Agents, upon the request of the Co-Administrative Agents in their sole discretion, a signed copy of a favorable opinion, addressed to the Co-Administrative Agents and the Lenders, of counsel for the Loan Parties reasonably acceptable to the Co-Administrative Agents relating to the matters described in clause
(a) above, including any such Subsidiary Guaranty Agreement or Joinder Agreement, as applicable, being legal, valid and binding obligations of each Loan Party party thereto enforceable in accordance with its terms (it being understood and
agreed that the form, content and scope of the legal opinions delivered on the Closing Date are acceptable); 
 provided,
however, that, notwithstanding anything in any Loan Document to the contrary, in no event will any Excluded Subsidiary or Receivables Subsidiary be required to provide a Subsidiary Guaranty Agreement or Joinder Agreement under any Loan
Document. 
  

	 	7.13	 [Reserved]. 

 

	 	7.14	 Further Assurances. 

Promptly upon request by any Co-Administrative Agent, or any Lender through any Co-Administrative Agent, (i) correct any material defect or error that may be discovered in any Loan Document or in the execution, acknowledgment, filing or recordation thereof, and (ii) do, execute,
acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds,
certificates, assurances and other instruments as any Agent, or any Lender through any Co-Administrative 

  
 87 

 
Agent, may reasonably require from time to time in order to carry out more effectively the purposes of the Loan Documents. 

 

	 	7.15	 Anti-Corruption Laws; Sanctions. 

Conduct its businesses in material compliance with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act
2010 and any other similar applicable anti-corruption legislation in other jurisdictions and with all applicable Sanctions, and maintain policies and procedures designed to promote compliance with such laws and Sanctions. 

ARTICLE VIII 
 NEGATIVE
COVENANTS 
 Until such time as the Obligations have been Fully Satisfied, Timken shall not, nor shall it permit any
Subsidiary to, directly or indirectly: 
  

	 	8.01	 Liens. 

Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned (but not
leased) or hereafter acquired (but not leased), other than the following: 

(a)        Liens existing as of the Closing Date, that are listed on
Schedule 8.01 and any renewals or extensions thereof, provided that the property covered thereby is not changed and the amount not increased or the direct or any contingent obligor changed and if such Lien is a Lien securing Priority Debt,
any renewal or extension of the obligations secured or benefited thereby is not prohibited by Section 8.03; 

(b)        Liens for taxes not yet due or which are being contested in
good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 

(c)        carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s, landlord’s or other like Liens arising in the ordinary course of business which are not overdue for a period of more than thirty (30) days or which are being contested in good faith and by appropriate
proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person; 

(d)        pledges or deposits in the ordinary course of business in
connection with workers’ compensation, unemployment insurance and other social security legislation, other than any Lien imposed by ERISA; 

(e)        deposits to secure the performance of bids, trade contracts
and leases (other than Indebtedness), statutory obligations, surety bonds (other than bonds related to judgments or litigation), performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

(f)        easements, rights-of-way, zoning restrictions, other restrictions and other similar encumbrances affecting real property which, in the aggregate, are not substantial in amount, and which do not in any case materially
detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person; 

  
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 (g)        Liens
securing judgments for the payment of money not constituting an Event of Default under Section 9.01(h) or securing appeal or other surety bonds related to such judgments; 

(h)        Liens on or transfers of accounts receivable and contracts,
and instruments and other assets related thereto arising in connection with the sale of such accounts receivable pursuant to Section 8.05(g); 

(i)        Liens securing any Indebtedness of Timken and its
Subsidiaries that is not prohibited by Section 8.03; 

(j)        Liens, if any, in favor of the L/C Issuer and/or the Swing
Line Lender to Cash Collateralize or otherwise secure the obligations of a Defaulting Lender to fund risk participations hereunder; 

(k)        Liens securing Indebtedness of a Subsidiary owing to any
Loan Party; 
 (l)        Liens on any property owned by Timken or
any Subsidiary, in favor of the United States or any state thereof, or any department, agency or instrumentality or political subdivision of the United States or any State thereof, or in favor of any other country, or any political subdivision
thereof, to secure partial, progress, advance or other payments pursuant to any contract or statute or to secure any Indebtedness incurred for the purpose of financing all or any part of the purchase price or the cost of construction of the property
subject to the Lien; 
 (m)        Liens incidental to the conduct
of Timken’s or any Subsidiary’s business or the ownership of such entity’s assets which (i) do not secure Indebtedness and (ii) do not in the aggregate materially detract from the value of the assets of Timken and its
Subsidiaries, taken as a whole, or materially impact the use thereof in the operation of such entity’s business; and 

(n)        pledges or deposits to secure public or statutory
obligations or to secure performance in connection with tenders, leases of real property, or bids of contracts and pledges or deposits made in the ordinary course of business for similar purposes. 

 

	 	8.02	 Acquisitions and Joint Ventures. 

(a)        Purchase or acquire all of the Equity Interests in, or all
or substantially all of the property and assets of, any Person (other than any Subsidiary of Timken) that, upon the consummation thereof, will be wholly owned directly by Timken or one or more of its wholly owned Subsidiaries (including, without
limitation, as a result of a merger or consolidation) except any such purchase or acquisition made pursuant to this Section 8.02(a) so long as: 

(i)    the lines of business of the Person to be (or the property and assets of which are
to be) so purchased or otherwise acquired shall not be substantially different than the lines of business currently conducted by Timken and its Subsidiaries or any business reasonably related, incidental, ancillary, supportive, synergistic,
supplementary or complementary thereto, or a reasonable or logical extension thereof (excluding any non-core incidental business or other immaterial businesses); and 

(ii)    (A) immediately before and immediately after giving pro forma effect to any such
purchase or other acquisition, no Default or Event of Default shall have occurred and be continuing, (B) Timken shall be in compliance with the covenants set forth in Section 8.11 on a Pro Forma Basis after giving
effect to such purchase or acquisition and 

  
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(C) if the total cash and non-cash consideration (including earn-outs, hold-backs and other deferred payment of consideration) paid or to be paid for any
such purchase or acquisition exceeds $200,000,000, Timken shall provide to the Co-Administrative Agents a certificate signed by a Responsible Officer of Timken demonstrating such compliance required pursuant
to clause (B) herein. 
 (b)        Make Investments in joint
ventures (other than any Subsidiaries) except (i) such Investments existing as of the Closing Date and (ii) such Investments by Timken and its Subsidiaries not otherwise permitted under this Section 8.02(b);
provided that, in the case of Investments described in clause (b)(ii), (1) the aggregate amount of such Investments made during any fiscal year in such joint ventures pursuant to this clause (b)(ii) shall not exceed $150,000,000 for such
fiscal year and (2) no Default or Event of Default shall have occurred and be continuing before and immediately after giving effect to any such Investment. 
  

	 	8.03	 Indebtedness. 

Create, incur, assume or suffer to exist any Priority Debt except: 

(a)        Priority Debt at any one time outstanding not to exceed
seventeen percent (17%) of total assets of Timken and its Subsidiaries on a consolidated basis; 

(b)        Indebtedness of Foreign Subsidiaries in respect of working
capital facilities in an aggregate principal amount not to exceed $75,000,000; 

(c)        (i) Indebtedness of the Receivables Subsidiaries incurred
in connection with the sale of accounts receivable and related assets pursuant to Section 8.05(g) so long as the aggregate principal amount of Indebtedness of all Receivables Subsidiaries relating thereto (exclusive of
Indebtedness incurred pursuant to clause (ii) below) does not exceed $150,000,000 at any time and (ii) Indebtedness of the Receivables Subsidiaries to any Subsidiary incurred in connection with the Receivables Facility for the purchase of
accounts receivable and related assets; and 

(d)        obligations (contingent or otherwise) of Timken or any
Subsidiary existing or arising under any Swap Contract designed to hedge against fluctuations in interest rates or foreign exchange rates incurred in the ordinary course of business and consistent with prudent business practice. 

 

	 	8.04	 Fundamental Changes. 

Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in one transaction or in a series
of transactions) all or substantially all of the assets of any Loan Party or any Subsidiary (whether now owned or hereafter acquired) to or in favor of any Person, except that, so long as no Default exists or would result therefrom: 

(a)        any Subsidiary may merge with (i) Timken,
provided that Timken shall be the continuing or surviving Person, or (ii) any one or more other Subsidiaries, provided that, after the Springing Guaranty Date, when any Guarantor is merging with another Subsidiary that is not a
Guarantor, the Guarantor shall be the continuing or surviving Person or the continuing or surviving Person shall promptly thereafter become a Guarantor; 

(b)        any Subsidiary may Dispose of all or substantially all of
its assets (upon voluntary liquidation or otherwise) to Timken or to another Subsidiary; provided that, after the Springing 

  
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Guaranty Date, if the transferor in such a transaction is a Guarantor, then the transferee must either be Timken or a Guarantor or the transferee shall promptly thereafter become a Guarantor;

 (c)        in connection with any acquisition permitted under
Section 8.02, any Subsidiary of Timken may merge into or consolidate with any other Person or permit any other Person to merge into or consolidate with it; provided that the Person surviving such merger shall be a
wholly owned Subsidiary of Timken; 
 (d)        any Disposition
permitted by Section 8.05; and 

(e)        any Subsidiary that is not a Material Subsidiary may
dissolve or liquidate; 
 provided, however, that in each case, immediately after giving effect thereto, in the case of any
such merger to which Timken is a party, Timken is the surviving corporation. 
  

	 	8.05	 Dispositions. 

Make any Disposition or enter into any agreement to make any Disposition, except: 

(a)        Dispositions of surplus, obsolete or worn out property,
whether now owned or hereafter acquired, in the ordinary course of business; 

(b)        Dispositions of inventory in the ordinary course of
business; 
 (c)        Dispositions of equipment or real property
to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement property or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement
property; 
 (d)        Dispositions of property by any Subsidiary
to Timken or to a wholly-owned Subsidiary; 

(e)        Dispositions permitted by
Section 8.04; 
 (f)        Dispositions
by Timken and its Subsidiaries not otherwise permitted under this Section 8.05; provided that (i) at the time of such Disposition, no Default or Event of Default shall exist or would result from such
Disposition, (ii) Timken shall be in compliance with the covenant set forth in Section 8.11(a) on a Pro Forma Basis after giving effect to any such Disposition and (iii) if the net book value of the assets sold,
leased or otherwise Disposed of in any such Disposition exceeds $200,000,000, Timken shall provide to the Co-Administrative Agents a certificate signed by a Responsible Officer of Timken demonstrating such
compliance required pursuant to clause (ii) herein; 

(g)        the limited recourse sale of accounts receivable and
related assets in connection a transaction permitted by Section 8.03(c) (the “Receivables Facility”); 

(h)        Dispositions of cash or Cash Equivalents for purposes not
otherwise prohibited under this Agreement or under any other Loan Document; 

(i)        Dispositions of assets that are no longer used or useful in
the business of Timken and its Subsidiaries; and 

  
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 (j)        so long
as no Default or Event of Default shall occur and be continuing, the grant of any option or other right to purchase any asset in a transaction that would be permitted under the provisions of Section 8.05(f); 

provided, however, that any Disposition pursuant to Section 8.05(a) through
Section 8.05(i) shall be for fair value as determined by Timken or the applicable Subsidiary in its reasonable business judgment. 
  

	 	8.06	 [Reserved]. 

 

	 	8.07	 Change in Nature of Business. 

Engage in any material line of business that is not of the same general type as those lines of business conducted by Timken
and its Subsidiaries on the Closing Date or any line of business reasonably related, incidental, ancillary, supportive, synergistic, supplementary or complementary thereto, or a reasonable or logical extension thereof (or any non-core incidental business acquired in connection with an acquisition not prohibited under this Agreement and other immaterial businesses). 

 

	 	8.08	 Transactions with Affiliates. 

Except as otherwise specifically permitted in this Agreement, enter into any material transaction with any Affiliate of
Timken, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to Timken or such Subsidiary, when taken as a whole, as would be obtainable by Timken or such Subsidiary at the time in a
comparable arm’s length transaction with a Person other than an Affiliate, except (i) transactions between or among Timken and its Subsidiaries or any entity that becomes a Subsidiary as a result of such transaction, (ii) the
transactions identified on Schedule 8.08, (iii) transactions relating to the Receivables Facility, (iv) issuances of Equity Interests of Timken to the extent otherwise permitted by this Agreement, (v) employment and severance
arrangements between Timken and its Subsidiaries and their respective officers and employees in the ordinary course of business, (vi) payment of customary fees and reasonable
out-of-pocket costs to, and indemnities provided on behalf of, members of the Board of Directors, officers and employees of Timken and its Subsidiaries in the ordinary
course of business, and (vii) any payments to or from, and transactions with any joint venture in the ordinary course of business (including, without limitation, any cash management activities related thereto). 

 

	 	8.09	 [Reserved]. 

 

	 	8.10	 Use of Proceeds. 

Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately,
to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund Indebtedness originally incurred for such purpose, in each case of
the foregoing, in any manner that would violate Regulation U, or X of the FRB. 
  

	 	8.11	 Financial Covenants. 

(a)        Consolidated Net Leverage Ratio. Permit the
Consolidated Net Leverage Ratio at any time to be greater than 3.50 to 1.0; provided that, following the consummation of a Qualified Acquisition and receipt by the Co-Administrative Agents of a Leverage
Increase Notice, the Consolidated Net Leverage Ratio shall not be greater than 4.00 to 1.0 during such Leverage Increase Period; provided, further, that, after the occurrence of any Leverage Increase Period, the

  
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Consolidated Net Leverage Ratio shall be no greater than 3.50 to 1.0 as of the end of at least one fiscal quarter before a subsequent Leverage Increase Period may be permitted to commence. 

(b)        Consolidated Interest Coverage Ratio. Permit the
Consolidated Interest Coverage Ratio at any time to be less than or equal to 3.00 to 1.0. 
  

	 	8.12	 Sanctions. 

Directly or indirectly, use the proceeds of any Credit Extension, or lend, contribute or otherwise make available such
proceeds to any Subsidiary, joint venture partner or other individual or entity, to fund any activities of or business with any individual or entity, or in any Designated Jurisdiction, that, at the time of such funding, is the subject of Sanctions,
or in any other manner, in each case as would result in a violation by any individual or entity (including any individual or entity participating in the transaction, whether as Lender, Arranger, Agent, L/C Issuer, Swing Line Lender, or otherwise) of
Sanctions. 
  

	 	8.13	 Anti-Corruption Laws. 

Directly or indirectly use the proceeds of any Credit Extension for any purpose which would breach the United States Foreign
Corrupt Practices Act of 1977 or cause a material breach of any other similar applicable anti-corruption legislation in other jurisdictions, including the UK Bribery Act 2010. 

ARTICLE IX 
 EVENTS OF
DEFAULT AND REMEDIES 
  

	 	9.01	 Events of Default. 

Any of the following shall constitute an Event of Default: 

(a)        Non-Payment.
Any Borrower, as applicable, fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, (ii) within five (5) Business Days after the same becomes due, any interest on any Loan
or on any L/C Obligation, or any commitment or other fee due hereunder or (iii) within ten (10) days after written notice thereof, any other amount due hereunder; or 

(b)        Specific Covenants. Timken fails to perform or
observe any term, covenant or agreement contained in (i) any of Section 7.03, 7.05, 7.11 or 7.12, or Article VIII or (ii) any of Section 7.01(a) or
(b) or 7.02(a) and such failure continues for ten (10) days after the earlier of the date on which (i) a Responsible Officer of Timken has knowledge of such failure or (ii) notice is given from the Paying Agent to
Timken at the request of the Required Lenders that Timken is to remedy the same; or 

(c)        Other Defaults. Any Loan Party fails to perform or
observe any other covenant or agreement (not specified in Section 9.01(a) or 9.01(b)) contained in any Loan Document on its part to be performed or observed and such failure continues for thirty (30) days after
the earlier of the date on which (i) a Responsible Officer of Timken has knowledge of such failure or (ii) notice is given from the Paying Agent to Timken at the request of the Required Lenders that Timken is to remedy the same; or 

(d)        Representations and Warranties. Any representation,
warranty, certification or statement of fact made or deemed made by or on behalf of Timken or any other Loan Party herein, 

  
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in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading in any material respect when made or deemed made; or 

(e)        Cross-Default. (i) Any Loan Party or any
Subsidiary (A) fails to make any payment when due and payable after giving effect to any applicable grace period (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness having an
aggregate principal amount (including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to any
such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness (or a
trustee or agent on behalf of such holder or holders) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to
repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from any event of default
under such Swap Contract as to which Timken or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) and the Swap Termination Value owed by the Loan Party or such Subsidiary as a result thereof is greater than the Threshold
Amount; provided that clause (i)(B) shall not apply to (x) secured Indebtedness that becomes due and payable (or redeemable) as a result of the voluntary Disposition of the property securing such Indebtedness (to the extent permitted under the
Credit Agreement), or (y) any Indebtedness that becomes due as a result of a voluntary refinancing thereof permitted under Section 8.03, and, for the avoidance of doubt, clause (ii) shall not apply to any
termination events or equivalent events pursuant to the terms of any Swap Contract that are not the result of any default thereunder by Timken or any Subsidiary; provided further that with respect to any failure described under clauses (i)(A) or
(i)(B) above, such failure is unremedied and is not waived by the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) prior to any termination of the Commitments or acceleration of the Loans pursuant to
this Article IX; or 
 (f)        Insolvency Proceedings,
Etc. Any Loan Party or any of its Material Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment
of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is
appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for sixty (60) calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material
part of its property is instituted without the consent of such Person and continues undismissed or unstayed for sixty (60) calendar days, or an order for relief is entered in any such proceeding; or 

(g)        Inability to Pay Debts; Attachment. (i) Any
Loan Party or any of its Material Subsidiaries becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or
levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded within sixty (60) calendar days after its issue or levy; or 

(h)        Judgments. There is entered against any Loan Party
or any Material Subsidiary a final and non-appealable judgment or order of any court for the payment of money in an aggregate amount exceeding the Threshold Amount, (to the extent not covered by independent
third-party insurance as to which the insurer does not dispute coverage); or 

  
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(i)        ERISA. Except as is not reasonably expected to result
in a Material Adverse Effect: (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or is reasonably expected to result in liability of Timken under Title IV of ERISA to the Pension Plan,
Multiemployer Plan or the PBGC in an aggregate amount in excess of the Threshold Amount, or (ii) Timken or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to
its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of the Threshold Amount; or 

(j)        Invalidity of Loan Documents. Any provision of any
Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Loan Party or any
other Person contests in any manner the validity or enforceability of any provision of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any Loan Document, or purports to revoke, terminate or
rescind any Loan Document; or 
 (k)        Change of
Control. There occurs any Change of Control. 
  

	 	9.02	 Remedies upon Event of Default. 

If any Event of Default occurs and is continuing, the Co-Administrative Agents shall,
at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 

(a)        declare the commitment of each Lender to make Loans and any
obligation of the L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 

(b)        declare the unpaid principal amount of all outstanding
Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are
hereby expressly waived by Timken; 
 (c)        require that Timken
Cash Collateralize the L/C Obligations (in an amount equal to the Minimum Collateral Amount with respect thereto); and 

(d)        exercise on behalf of themselves, the other Agents and the
Lenders all rights and remedies available to them, the other Agents and the Lenders under the Loan Documents or applicable Law; 

provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect to any Borrower
under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and
all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of Timken to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act of any
Agent or any Lender. 
  

	 	9.03	 Application of Funds. 

  
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 After the exercise of remedies provided for in
Section 9.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to
Section 9.02), any amounts received on account of the Obligations shall, subject to the provisions of Sections 2.15 and 2.16, be applied by the Paying Agent in the following order: 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (other
than principal and interest but including Attorney Costs and amounts payable under Article III) payable to the Agents in their capacities as such ratably among them in proportion to the amounts described in this clause First payable to them;

 Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than
principal and interest) payable to the Lenders (including Attorney Costs and amounts payable under Article III), ratably among them in proportion to the amounts described in this clause Second payable to them; 

Third, to payment of that portion of the Obligations constituting accrued and unpaid interest on the Loans and L/C
Borrowings and fees, premiums and scheduled periodic payments, and any interest accrued thereon, due under any Swap Contract between any Loan Party and any Swap Bank, ratably among the Lenders (and, in the case of such Swap Contracts, Swap Banks)
and the L/C Issuer in proportion to the respective amounts described in this clause Third payable to them; 

Fourth, to (a) payment of that portion of the Obligations constituting accrued and unpaid principal of the Loans
and L/C Borrowings, (b) payment of breakage, termination or other payments, and any interest accrued thereon, due under any Swap Contract between any Loan Party and any Swap Bank, (c) payments of amounts due under any Treasury Management
Agreement between any Loan Party and any Treasury Management Bank and (d) the Paying Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit,
ratably among the Lenders (and, in the case of such Swap Contracts and Treasury Management Agreements, Swap Banks or Treasury Management Banks, as applicable) and the L/C Issuer in proportion to the respective amounts described in this clause
Fourth held by them; 
 Fifth, to the payment of all other Obligations of the Loan Parties owing under or in
respect of the Loan Documents that are due and payable to the Agents and the Lenders on such date, ratably based upon the respective aggregate amounts of all such Obligations owing to the Agents and the Lenders on such date; and 

Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to Timken or as otherwise
required by Law. 
 Subject to Section 2.03(c), amounts used to Cash Collateralize the aggregate
undrawn amount of Letters of Credit pursuant to clause Fourth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either
been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 

Excluded Swap Obligations with respect to any Guarantor shall not be paid with amounts received from such Guarantor or such
Guarantor’s assets, but appropriate adjustments shall be made with respect to payments from other Loan Parties to preserve the allocation to Obligations otherwise set forth above in this Section. 

  
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 ARTICLE X 

AGENTS 
  

	 	10.01	 Appointment and Authority. 

Each of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of America and KeyBank to act on its behalf as the
Agents hereunder and under the other Loan Documents and authorizes each Agent to take such actions on its behalf and to exercise such powers as are delegated to such Agent by the terms hereof or thereof, together with such actions and powers as are
reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Agents, the Lenders and the L/C Issuer, and neither Timken nor any other Loan Party shall have rights as a third party beneficiary of any of such
provisions. It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Co-Administrative Agents is not
intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative
relationship between contracting parties. 
  

	 	10.02	 Rights as a Lender. 

The Persons serving as an Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other
Lender and may exercise the same as though it were not an Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Persons serving as an Agent
hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with any
Loan Party or any Subsidiary or other Affiliate thereof as if such Person were not an Agent hereunder and without any duty to account therefor to the Lenders. 
  

	 	10.03	 Exculpatory Provisions. 

No Agent nor any Arranger shall have any duties or obligations except those expressly set forth herein and in the other Loan
Documents, and their duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, each Agent, each Arranger and its Related Parties: 

(a)        shall not be subject to any fiduciary or other implied
duties, regardless of whether a Default has occurred and is continuing; 

(b)        shall not have any duty to take any discretionary action or
exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that such Agent is required to exercise as directed in writing by the Required Lenders (or such other number or
percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that such Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose such Agent
to liability or that is contrary to any Loan Document or applicable Law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or
termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and 

(c)        shall not have any duty or responsibility to disclose, and
shall not be liable for the failure to disclose, to any Lender or any L/C Issuer, any credit or other information concerning the 

  
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business, prospects, operations, property, financial and other condition or creditworthiness of any of the Loan Parties or any of their Affiliates, that is communicated to, obtained or in the
possession of, such Agent, Arranger or any of their Related Parties in any capacity, except for notices, reports and other documents expressly required to be furnished to the Lenders by such Agent herein. 

No Agent shall be liable for any action taken or not taken by such Agent under or in connection with this Agreement or any
other Loan Document or the transactions contemplated hereby or thereby (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as such Agent shall believe in
good faith shall be necessary, under the circumstances as provided in Sections 11.01 and 9.02) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final
and nonappealable judgment. No Agent shall be deemed to have knowledge of any Default unless and until notice in writing describing such Default is given to such Agent by Timken, a Lender, the L/C Issuer or another Agent. 

No Agent shall be responsible for or have any duty or obligation to any Lender or participant or any other Person to ascertain
or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in
connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability,
effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article V or elsewhere herein, other than to confirm receipt of
items expressly required to be delivered to such Agent. 
  

	 	10.04	 Reliance by Agents. 

The Agents shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request,
certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise
authenticated by the proper Person. The Agents also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining
compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, each Agent may presume that such condition is satisfactory
to such Lender or the L/C Issuer unless such Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. Each Agent may consult with legal counsel
(who may be counsel for the Loan Parties), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

 

	 	10.05	 Delegation of Duties. 

Each Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document
by or through any one or more sub-agents appointed by such Agent. Any Agent and any such sub-agent may perform any and all of its duties and exercise its rights and
powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of each Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as an Agent. 

 

	 	10.06	 Removal and Resignation of Agents. 

  
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 (a)        Any Agent may at any time
give notice of its resignation to the Lenders, the L/C Issuer and Timken. Upon receipt of any such notice of resignation, the Required Lenders shall have the right (with, so long as no Default or Event of Default exists, the consent of Timken, which
shall not be unreasonably withheld or delayed) to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States or another entity a material business of which is
or will be providing administrative agency services. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days after the retiring Agent gives notice of its
resignation (the “Resignation Effective Date”), then the retiring Agent may on behalf of the Lenders and the L/C Issuer (with, so long as no Default or Event of Default exists, the consent of Timken, which shall not be unreasonably
withheld or delayed), appoint a successor Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date. 

(b)        If at any time the Person serving as an Agent is a Defaulting Lender, the
Required Lenders may, to the extent permitted by applicable Law, by notice in writing to Timken and such Person, remove such Person as an Agent and appoint (with, so long as no Default or Event of Default exists, the consent of Timken, which shall
not be unreasonably withheld or delayed) a successor. 
 If no such successor shall have been so appointed by the Required
Lenders and shall have accepted such appointment, within thirty (30) days (or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective in
accordance with such notice on the Removal Effective Date. 
 (c)        With effect
from the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the retiring or removed Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (2) except for any
indemnity payments or other amounts then owed to the retiring or removed Agent, all payments, communications and determinations provided to be made by, to or through such Agent shall instead be made by or to each Lender and the L/C Issuer directly,
until such time, if any, as the Required Lenders appoint a successor Agent as provided for above. Upon the acceptance of a successor’s appointment as an Agent hereunder, such successor shall succeed to and become vested with all of the rights,
powers, privileges and duties of the retiring (or removed) Agent (other than any rights to indemnity payments or other amounts owed to the retiring or removed Agent as of the Resignation Effective Date or the Removal Effective Date, as applicable),
and the retiring or removed Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by Timken to a
successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between Timken and such successor. After the retiring or removed Agent’s resignation or removal hereunder and under the other Loan Documents, the
provisions of this Article and Sections 11.04 and 11.05 shall continue in effect for the benefit of such retiring or removed Agent, its sub-agents and their respective Related Parties in respect
of any actions taken or omitted to be taken by any of them while the retiring or removed Agent was acting as an Agent. 

(d)        Any resignation by KeyBank as a Paying Agent pursuant to this Section shall
also constitute its resignation as L/C Issuer and Swing Line Lender. Upon the acceptance of a successor’s appointment as the Paying Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers,
privileges and duties of the retiring L/C Issuer and Swing Line Lender, (b) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and
(c) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume
the obligations of the retiring L/C Issuer with respect to such Letters of Credit. 

  
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	 	10.07	 Non-Reliance on Agents, Arrangers and Other Lenders.

 Each Lender and the L/C Issuer expressly acknowledges that none of any Agent nor any Arranger has
made any representation or warranty to it, and that no act by any Agent or any Arranger hereafter taken, including any consent to, and acceptance of any assignment or review of the affairs of any Loan Party of any Affiliate thereof, shall be deemed
to constitute any representation or warranty by any Agent or any Arranger to any Lender or the L/C Issuer as to any matter, including whether any Agent or any Arranger have disclosed material information in their (or their Related Parties’)
possession. Each Lender and the L/C Issuer represents to each Agent and each Arranger that it has, independently and without reliance upon any Agent, any Arranger, any other Lender or any of their Related Parties and based on such documents and
information as it has deemed appropriate, made its own credit analysis of, appraisal of, and investigation into, the business, prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties and their
Subsidiaries, and all applicable bank or other regulatory Laws relating to the transactions contemplated hereby, and made its own decision to enter into this Agreement and to extend credit to the Borrowers hereunder. Each Lender and the L/C Issuer
also acknowledges that it will, independently and without reliance upon any Agent, any Arranger, any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to
make its own credit analysis, appraisals and decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder, and to make such
investigations as it deems necessary to inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of the Loan Parties. Each Lender and the L/C Issuer represents and warrants that
(i) the Loan Documents set forth the terms of a commercial lending facility and (ii) it is engaged in making, acquiring or holding commercial loans in the ordinary course and is entering into this Agreement as a Lender or L/C Issuer for
the purpose of making, acquiring or holding commercial loans and providing other facilities set forth herein as may be applicable to such Lender or L/C Issuer, and not for the purpose of purchasing, acquiring or holding any other type of financial
instrument, and each Lender and the L/C Issuer agrees not to assert a claim in contravention of the foregoing. Each Lender and the L/C Issuer represents and warrants that it is sophisticated with respect to decisions to make, acquire and/or hold
commercial loans and to provide other facilities set forth herein, as may be applicable to such Lender or the L/C Issuer, and either it, or the Person exercising discretion in making its decision to make, acquire and/or hold such commercial loans or
to provide such other facilities, is experienced in making, acquiring or holding such commercial loans or providing such other facilities. 
  

	 	10.08	 No Other Duties; Etc. 

Anything herein to the contrary notwithstanding, none of the bookrunners, Arrangers, syndication agents, documentation agents
or co-agents shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the applicable Agent, a Lender or the L/C
Issuer hereunder. 
  

	 	10.09	 Agents May File Proofs of Claim. 

In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan
Party, the Co-Administrative Agents (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of
whether the Co-Administrative Agents shall have made any demand on Timken) shall be entitled and empowered, by intervention in such proceeding or otherwise: 

(a)        to file and prove a claim for the whole amount of the
principal and interest owing and unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing and 

  
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unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the L/C Issuer and the Agents (including any claim for the reasonable
compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the Agents and their respective agents and counsel and all other amounts due the Lenders, the L/C Issuer and the Agents under Sections 2.03(h) and
(i), 2.09, 11.04 and 11.05) allowed in such judicial proceeding; and 

(b)    to collect and receive any monies or other property payable or deliverable on any
such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar
official in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such payments to the Paying Agent and, in the event that the Paying Agent shall consent to the making of such payments directly to the Lenders
and the L/C Issuer, to pay to the Paying Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Agents and their respective agents and counsel, and any other amounts due the Agents under Sections
2.09, 11.04 and 11.05. 
 Nothing contained herein shall be deemed to authorize the Co-Administrative Agents to authorize or consent to or accept or adopt on behalf of any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the
rights of any Lender or to authorize the Co-Administrative Agents to vote in respect of the claim of any Lender in any such proceeding. 

 

	 	10.10	 Guaranty Matters. 

At any time following the Springing Guaranty Date, if any Guarantor ceases to be a Subsidiary as a result of a transaction
permitted hereunder, such Person shall be automatically released from its obligations under the Subsidiary Guaranty Agreement, pursuant to this Section 10.10. The Co-Administrative
Agents will, at Timken’s reasonable expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to release such Guarantor from its obligations under the Subsidiary Guaranty Agreement in
accordance with the terms of the Loan Documents and this Section 10.10. 
  

	 	10.11	 Lender ERISA Representation. 

(a)    Each Lender (x) represents and warrants, as of the date such Person became a Lender party
hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, each Co-Administrative Agent and not,
for the avoidance of doubt, to or for the benefit of Timken or any other Loan Party, that at least one of the following is and will be true: 

(i)    such Lender is not using “plan assets” (within the meaning of
Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments or this Agreement, 

(ii)    the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions
involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a
class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain 

  
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transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of
and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, 

(iii)     (A) such Lender is an investment fund managed by a “Qualified Professional
Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer
and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the
requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of
Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,
or 
 (iv)    such other representation, warranty and covenant as may be agreed in
writing between the Co-Administrative Agents, in their sole discretion, and such Lender. 

(b)    In addition, unless either (1) sub-clause (i) in
the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the
immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such
Person ceases being a Lender party hereto, for the benefit of, the Co-Administrative Agents and not, for the avoidance of doubt, to or for the benefit of Timken or any other Loan Party, that no Co-Administrative Agent is a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit,
the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by any Co-Administrative Agent under this Agreement, any Loan Document or any documents related hereto
or thereto). 
  

	 	10.12	 Recovery of Erroneous Payments. 

Without limitation of any other provision in this Agreement, if at any time any Agent makes a payment hereunder in error to
any Lender Recipient Party, whether or not in respect of an Obligation due and owing by any Borrower at such time, where such payment is a Rescindable Amount, then in any such event, each Lender Recipient Party receiving a Rescindable Amount
severally agrees to repay to such Agent forthwith on demand the Rescindable Amount received by such Lender Recipient Party in Same Day Funds in the currency so received, with interest thereon, for each day from and including the date such
Rescindable Amount is received by it to but excluding the date of payment to such Agent, at the greater of the Federal Funds Rate and a rate determined by such Agent in accordance with banking industry rules on interbank compensation. Each Lender
Recipient Party irrevocably waives any and all defenses, including any “discharge for value” (under which a creditor might otherwise claim a right to retain funds mistakenly paid by a third party in respect of a debt owed by another) or
similar defense to its obligation to return any Rescindable Amount. The applicable Agent shall inform each Lender Recipient Party promptly upon determining that any payment made to such Lender Recipient Party comprised, in whole or in part, a
Rescindable Amount. 
 ARTICLE XI 

MISCELLANEOUS 

  
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	 	11.01	 Amendments, Etc. 

Subject to Section 3.03, no amendment or waiver of any provision of this Agreement or any other Loan
Document, and no consent to any departure by Timken or any other Loan Party therefrom, shall be effective unless in writing signed by the Required Lenders (or by the Agents with the consent of the Required Lenders) and Timken or the applicable Loan
Party, as the case may be, and acknowledged by the Co-Administrative Agents, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given;
provided, however, that no such amendment, waiver or consent shall: 

(a)    extend or increase the Commitment of any Lender (or reinstate any Commitment
terminated pursuant to Section 9.02) without the written consent of such Lender; 

(b)    postpone any date scheduled for any payment of principal or interest under
Section 2.07 or 2.08, or any date fixed for the payment of fees or other amounts due to the Lenders (or any of them) hereunder or under any other Loan Document without the written consent of each Lender directly
affected thereby; 
 (c)    reduce the principal of, or the rate of interest specified
herein on, any Loan or L/C Borrowing, or (subject to clause (v) of the second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document without the written consent of
each Lender directly affected thereby; provided, however, that only the consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of the Borrowers to pay
interest or Letter of Credit Fees at the Default Rate or (ii) to amend any financial covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing
or to reduce any fee payable hereunder; 
 (d)    change any provision of this
Section 11.01 or the definitions of “Required Lenders” or “Required Revolving Credit Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or
otherwise modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender; 

(e)    at any time following the Springing Guaranty Date, release all or substantially all
of the value of the Guarantees of the Obligations hereunder without the written consent of each Lender, except to the extent the release of any such Guarantor is permitted pursuant to Section 10.10 (in which case such
release may be made by the Co-Administrative Agents alone); 

(f)    at any time there exists a Designated Borrower, release Timken from its obligations
as a Guarantor under the Loan Documents with respect to the Designated Borrower Obligations without the written consent of each Lender; 

(g)    amend Section 2.13 or 9.03, without the written
consent of each Lender directly affected thereby; provided, however, that Section 2.13 may be amended solely with the consent of the Required Lenders to provide for ratable sharing of payments within the same
tranche of Loans rather than across all Loans in the event that one or more additional borrowing tranches is added hereunder; 

(h)    amend the definition of “Committed Currencies” without the written
consent of each Revolving Credit Lender; or 

  
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 (i)    after the Closing Date, waive,
amend or modify any condition precedent set forth in Section 5.02 without the written consent of the Required Revolving Credit Lenders (and if the approval set forth in this clause (j) is obtained, the consent of any
other Lender (including, for the avoidance of doubt, the Required Lenders) shall not be required); 
 and provided further
that (i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Letter of Credit Application
relating to any Letter of Credit issued, deemed issued, or to be issued by the L/C Issuer; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition to the Lenders required above, affect the
rights or duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by an Agent in addition to the Lenders required above, affect the rights or duties of, or any fees or
other amounts payable to, such Agent under this Agreement or any other Loan Document; (iv) Section 11.07(h) may not be amended, waived or otherwise modified without the consent of each Granting Lender all or any part
of whose Loans are being funded by an SPC at the time of such amendment, waiver or other modification; (v) the Bank of America Fee Letter, the KeyBank Fee Letter, the PNC Fee Letter and the JPMorgan Fee Letter may be amended, or rights or
privileges thereunder waived, in a writing executed only by the parties thereto; and (vi) the Agents and Timken may make amendments contemplated by Section 3.03(b). Notwithstanding anything to the contrary herein, no
Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the
consent of the applicable Lenders other than Defaulting Lenders), except that (i) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (ii) any waiver, amendment or modification
requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender disproportionately adversely relative to other affected Lenders shall require the consent of such Defaulting Lender. 

Notwithstanding anything to the contrary herein, this Agreement may be amended or amended and restated without the consent of any Lender (but
with the consent of Timken and the Co-Administrative Agents) if, upon giving effect to such amendment or amendment and restatement, such Lender shall no longer be a party to this Agreement (as so amended or
amended and restated), the Commitments of such Lender shall have terminated, such Lender shall have no other commitment or other obligation hereunder and shall have been paid in full all principal, interest and other amounts owing to it or accrued
for its account under this Agreement. 
 Notwithstanding any provision herein to the contrary, if the
Co-Administrative Agents and Timken acting together identify any ambiguity, omission, mistake, typographical error or other defect in any provision of this Agreement or any other Loan Document (including the
schedules and exhibits thereto), then the Co-Administrative Agents and Timken shall be permitted to amend, modify or supplement such provision to cure such ambiguity, omission, mistake, typographical error or
other defect, and such amendment shall become effective without any further action or consent of any other party to this Agreement so long as (x) such amendment, modification or supplement does not adversely affect the rights of any Lender or
other holder of Obligations in any material respect and (y) the Lenders shall have received at least five (5) Business Days’ prior written notice thereof from the Co-Administrative Agents and
the Co-Administrative Agents shall not have received, within five (5) Business Days of the date of such notice to the Lenders, a written notice from the Required Lenders stating that the Required Lenders
object to such amendment. 
  

	 	11.02	 Notices and Other Communications; Facsimile Copies. 

(a)    General. Except in the case of notices and other communications expressly
permitted to be given by telephone (and except as provided in subsection (b) below), all notices 

  
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and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile as
follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 

(i)        if to Timken, any Agent, the L/C Issuer or the Swing Line
Lender, to the address, facsimile number, electronic mail address or telephone number specified for such Person on Schedule 11.02; and 

(ii)        if to any other Lender, to the address, facsimile number,
electronic mail address or telephone number specified in its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the delivery
of notices that may contain material non-public information relating to Timken). 
 Notices and
other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by facsimile shall be deemed to have been given when
sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic
communications to the extent provided in subsection (b) below, shall be effective as provided in such subsection (b). 

(b)    Electronic Communications. Notices and other communications to the Lenders
and the L/C Issuer hereunder may be delivered or furnished by electronic communication (including e-mail, FpML messaging and Internet or intranet websites) pursuant to procedures approved by the Co-Administrative Agents (which include those set forth in the penultimate paragraph of Section 7.02), provided that the foregoing shall not apply to notices to any Lender or the L/C
Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified the Co-Administrative Agents that it is incapable of receiving notices under such Article by electronic
communication; provided, further, that Lenders and the L/C Issuer agree that all notices and other communications to the Lenders and the L/C Issuer may be delivered by e-mail. The Co-Administrative Agents, the Swing Line Lender, any L/C Issuer or Timken may, in their discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to
procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 

Subject to the penultimate paragraph of Section 7.02, unless the
Co-Administrative Agents otherwise prescribe, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt
of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement) and (ii) notices or
communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of
notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii), if such notice, email or other communication is not sent during the
normal business hours of the recipient, such notice, email or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient. 

(c)    The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS
AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR 

  
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ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Co-Administrative Agents or any of its Related Parties (collectively, the “Agent Parties”) have any liability to any Borrower, any Lender, the L/C Issuer or any other Person for losses, claims,
damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of Timken’s or the Co-Administrative Agent’s transmission of Borrower Materials or notices through
the Platform, any other electronic platform or electronic messaging service, or through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and
nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to any Borrower, any Lender, the L/C Issuer or
any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). 

(d)    Change of Address, Etc. Each of Timken, each Agent, the L/C Issuer and the
Swing Line Lender may change its address, facsimile or telephone number for notices and other communications hereunder by notice to the other parties hereto (or, in the case of Timken, to the Co-Administrative
Agents). Each other Lender may change its address, facsimile or telephone number for notices and other communications hereunder by notice to Timken, the Agents, the L/C Issuer and the Swing Line Lender. In addition, each Lender agrees to notify the
Agents from time to time to ensure that the Agents have on record (i) an effective address, contact name, telephone number, facsimile number and electronic mail address to which notices and other communications may be sent and
(ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar
designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United States Federal and state
securities Laws, to make reference to Borrower Materials that are not made available through the “Public Side Information” portion of the Platform and that may contain material non-public information
with respect to Timken or its securities for purposes of United States Federal or state securities laws. 

(e)    Reliance by Agents, L/C Issuer and Lenders. The Agents, the L/C Issuer and
the Lenders shall be entitled to rely and act upon any notices (including telephonic notices, electronic notices, Committed Loan Notices, Letter of Credit Applications and Swing Line Loan Notices) purportedly given by or on behalf of Timken even if
(i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein and (ii) the terms thereof, as understood by the recipient, varied from any
confirmation thereof. The Loan Parties shall indemnify each Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice
purportedly given by or on behalf of a Loan Party. All telephonic notices to and other telephonic communications with any Agent may be recorded by such Agent, and each of the parties hereto hereby consents to such recording. 

 

	 	11.03	 No Waiver; Cumulative Remedies; Enforcement. 

No failure by any Lender, the L/C Issuer or any Agent to exercise, and no delay by any such Person in exercising, any right,
remedy, power or privilege hereunder or under any other Loan Document shall 

  
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operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any
other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and as provided under each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

 Notwithstanding anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights
and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be instituted and maintained
exclusively by, each Agent in accordance with Section 10.01 for the benefit of all the Lenders and the L/C Issuer; provided, however, that the foregoing shall not prohibit (a) any Agent from exercising on
its own behalf the rights and remedies that inure to its benefit (solely in its capacity as an Agent) hereunder and under the other Loan Documents, (b) the L/C Issuer or the Swing Line Lender from exercising the rights and remedies that inure
to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section 11.09
(subject to the terms of Section 2.13), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor
Relief Law; and provided, further, that if at any time there is no Person acting as the applicable Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to such
Agent pursuant to Section 10.01 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.13, any Lender may, with the
consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders. 
  

	 	11.04	 Attorney Costs and Expenses. 

Timken shall pay (i) all reasonable and documented
out-of-pocket expenses incurred by the Agents and their Affiliates (including Attorney Costs for the Agents), in connection with the syndication of the credit facilities
provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated hereby or thereby shall be consummated), (ii) all reasonable and documented out-of-pocket expenses incurred by the L/C Issuer in connection with the
issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Co-Administrative Agents, any Lender or the L/C Issuer (including the fees, charges and disbursements of any counsel for the Agents, any Lender or the L/C Issuer), in connection with the enforcement or protection of
its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

 

	 	11.05	 Indemnification by Timken. 

(a)    Timken shall indemnify each Agent (and any
sub-agent thereof), each Lender and the L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee
harmless from, any and all losses, claims, damages, liabilities and related expenses (including the reasonable and documented fees, charges and disbursements of any counsel for any Indemnitee (limited to one counsel for all Indemnitees taken as a
whole and, if reasonably necessary, a single local counsel for all Indemnitees taken as a whole in each relevant jurisdiction and, solely in the case of a conflict of interest, one additional counsel in each relevant jurisdiction to each group of
affected Indemnitees similarly 

  
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situated taken as a whole)), incurred by any Indemnitee or asserted against any Indemnitee by any Person (including Timken or any other Loan Party) other than such Indemnitee and its Related
Parties arising out of, in connection with, or as a result of (i) the execution (including any Indemnitee’s reliance on any Communication executed using an Electronic Signature, or in the form of an Electronic Record) or delivery of this
Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder, the consummation of the transactions contemplated hereby
or thereby, or, in the case of the Co-Administrative Agents (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other
Loan Documents, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with
such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by Timken or any of its Subsidiaries, giving rise to
any Environmental Liability related in any way to Timken or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other
theory, whether brought by a third party or by Timken or any other Loan Party, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such
losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from (x) the gross negligence, bad faith or willful misconduct of such Indemnitee,
(y) a material breach of the obligations of such Indemnitee under this Agreement and (z) any proceeding that does not involve an act or omission by Timken or any of its Affiliates and that is brought by an Indemnitee against any other
Indemnitee (other than an Arranger, the Agents, L/C Issuer, Swing Line Lender or any other agent hereunder, in each case, in its capacity as such). Without limiting the provisions of Section 3.01, this
Section 11.05(a) shall not apply with respect to taxes other than any taxes that represent losses, claims, damages, etc. arising from any non-tax claim. 

(b)    Reimbursement by Lenders. To the extent that Timken for any reason fails to
indefeasibly pay any amount required under subsection (a) of this Section to be paid by it to any Agent (or any sub-agent thereof), the L/C Issuer, the Swing Line Lender or any Related Party of any of the
foregoing (and without limiting the obligation of any of them), each Lender severally agrees to pay to such Agent (or any such sub-agent), the L/C Issuer, the Swing Line Lender or such Related Party, as the
case may be, such Lender’s Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim,
damage, liability or related expense, as the case may be, was incurred by or asserted against any Agent (or any such subagent) or the L/C Issuer or Swing Line Lender in its capacity as such, or against any Related Party of any of the foregoing
acting for such Agent (or any such sub-agent), L/C Issuer or Swing Line Lender in connection with such capacity. The obligations of the Lenders under this subsection (b) are subject to the provisions of
Section 2.12(e). 
 (c)    Waiver of Consequential Damages,
Etc. To the fullest extent permitted by applicable law, Timken and each Indemnitee shall not assert, and hereby waive, and acknowledge that no other Person shall have, any claim against (x) any Indemnitee or (y) Timken or any of its
Subsidiaries or Affiliates (other than in respect to any such damages incurred or paid by an Indemnitee to a third party), as applicable, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or
actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or

  
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Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by unintended recipients of
any information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the
transactions contemplated hereby or thereby, other than for direct or actual damages resulting from the gross negligence, bad faith or willful misconduct of such Indemnitee as determined by a final and
non-appealable judgment of a court of competent jurisdiction. 

(d)    Payments. All amounts due under this Section shall be payable not later than
ten (10) Business Days after demand therefor. 
 (e)    Survival. The
agreements in this Section and the indemnity provisions of Section 11.02(e) shall survive the resignation of any Agent, the L/C Issuer and the Swing Line Lender, the replacement of any Lender, the termination of the
Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. 
  

	 	11.06	 Payments Set Aside. 

To the extent that any payment by or on behalf of any Borrower is made to any Agent, the L/C Issuer or any Lender, or any
Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant
to any settlement entered into by such Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the
extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and
the L/C Issuer severally agrees to pay to the Paying Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by any Agent, plus interest thereon from the date of such demand to the date such payment is
made at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and
the termination of this Agreement. 
  

	 	11.07	 Successors and Assigns. 

(a)    Successors and Assigns Generally. The provisions of this Agreement and the
other Loan Documents shall be binding upon and inure to the benefit of the parties hereto and thereto and their respective successors and assigns permitted hereby, except that (1) no Borrower may assign or otherwise transfer any of its rights
or obligations hereunder or thereunder without the prior written consent of the Paying Agent and each Lender and (2) no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee
in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in accordance with the provisions of subsection (d) of this Section, (iii) by way of pledge or assignment of a security interest
subject to the restrictions of subsection (f) of this Section or (iv) to an SPC in accordance with the provisions of subsection (h) of this Section (and any other attempted assignment or transfer by any party hereto shall be null and
void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in subsection
(d) of this Section and, to the extent expressly contemplated hereby, the 

  
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Related Parties of each of the Paying Agent, the L/C Issuer and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b)    Assignments by Lenders. Any Lender may at any time assign to one or more
Eligible Assignees all or a portion of its rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its Commitment and the Loans (including for purposes of this subsection (b), participations in L/C
Obligations and Swing Line Loans) at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i)    Minimum Amounts. 

(A)    in the case of an assignment of the entire remaining amount of the assigning
Lender’s Commitment and the Loans at the time owing to it or contemporaneous assignments to related Approved Funds (determined after giving effect to such assignments) that equal at least the amount specified in paragraph (b)(i)(B) of
this Section in the aggregate or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 

(B)    in any case not described in subsection (b)(i)(A) of this Section, the aggregate
amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined
as of the date the Assignment and Assumption with respect to such assignment is delivered to the Paying Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $10,000,000, in
the case of any assignment in respect of the Revolving Credit Facility, or $1,000,000, in the case of any assignment in the respect of the Term Facility, unless each of the Paying Agent and, so long as no Event of Default has occurred and is
continuing, Timken otherwise consents (each such consent not to be unreasonably withheld or delayed); 

(ii)    Proportionate Amounts. Each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not apply to the Swing Line
Lender’s rights and obligations in respect of Swing Line Loans; 

(iii)    Required Consents. No consent shall be required for any assignment except
to the extent required by subsection (b)(i)(B) of this Section and, in addition: 

(A)    the consent of Timken (such consent not to be unreasonably conditioned, withheld
or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; provided that Timken
shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Co-Administrative Agents within ten (10) Business Days after having received notice
thereof; 
 (B)    the consent of the Paying Agent (such consent not to be unreasonably
conditioned, withheld or delayed) shall be required for assignments 

  
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in respect of (1) any unfunded Term Commitment or any Revolving Credit Commitment if such assignment is to a Person that is not a Lender with a Commitment in respect of the applicable
Facility, an Affiliate of such Lender or an Approved Fund with respect to such Lender or (2) any Term Loan to a Person that is not a Lender, an Affiliate of a Lender or an Approved Fund; 

(C)    the consent of the L/C Issuer (such consent not to be unreasonably conditioned,
withheld or delayed) shall be required for any assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding); and 

(D)    the consent of the Swing Line Lender (such consent not to be unreasonably
conditioned, withheld or delayed) shall be required for any assignment in respect of any Revolving Credit Commitment if such assignment is to a Person that is not a Lender with a Revolving Credit Commitment, an Affiliate of such Lender or an
Approved Fund with respect to such Lender. 
 (iv)    Assignment and Assumption.
The parties to each assignment shall execute and deliver to the Paying Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Paying Agent may, in its sole discretion,
elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Paying Agent an Administrative Questionnaire. 

(v)    No Assignment to Certain Persons. No such assignment shall be made
(A) to Timken or any of Timken’s Affiliates or Subsidiaries, (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this
clause (B), or (C) to a natural Person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of a natural Person). 

(vi)    Certain Additional Payments. In connection with any assignment of rights
and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Paying
Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of
Timken and the Co-Administrative Agents, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby
irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Agents, the L/C Issuer or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate)
its full pro rata share of all Loans and participations in Letters of Credit and Swing Line Loans in accordance with its Pro Rata Share. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting
Lender hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such
compliance occurs. 

  
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 Subject to acceptance and recording thereof by the Paying Agent pursuant to subsection
(c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have
the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case
of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01,
3.04, 3.05, 11.04 and 11.05 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties,
no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Upon request, each Borrower (at its expense) shall execute and deliver a
Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation
in such rights and obligations in accordance with subsection (d) of this Section. 

(c)    Register. The Paying Agent, acting solely for this purpose as a non-fiduciary agent of the Borrowers, shall maintain at the Paying Agent’s Office a copy of each Assignment and Assumption delivered to it (or the equivalent thereof in electronic form) and a register for the
recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the
“Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrowers, the Agents and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. In addition, the Paying Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting
Lender which it has received notice. The Register shall be available for inspection by Timken, any Agent and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

(d)    Participations. Any Lender may at any time, without the consent of, or
notice to, any Borrower or the Co-Administrative Agents, sell participations to any Person (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and operated for the
primary benefit of a natural Person, a Defaulting Lender or Timken or any of Timken’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement
(including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations and/or Swing Line Loans) owing to it); provided that (i) such Lender’s obligations under this Agreement
shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) Timken, the Agents, the other Lenders and the L/C Issuer shall continue to deal solely
and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 11.05(b) without
regard to the existence of any participation. 
 Any agreement or instrument pursuant to which a Lender
sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso of Section 11.01(a) that affects such
Participant. Subject to subsection (e) of this Section, Timken 

  
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agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 (subject to the requirements and limitations therein, and the requirements and
limitations in Section 3.01(d) (it being understood that the documentation required under Section 3.01(d) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to subsection (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.09 as though it were a Lender, provided such
Participant agrees to be subject to Section 2.13 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of
Timken, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under this Agreement (the
“Participant Register”); provided, however, that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant or any
information relating to a Participant’s interest in any Commitments, Loans, Letters of Credit or its other Obligations under the Loan Documents) except to the extent that such disclosure is necessary to establish that such Commitment, Loan,
Letter of Credit or other Obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest
error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. 

(e)    Limitations on Participant Rights. A Participant shall not be entitled to
receive any greater payment under Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, except to the extent such entitlement
to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation. 

(f)    Certain Pledges. Any Lender may at any time pledge or assign a security
interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no
such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(g)    Resignation as L/C Issuer or Swing Line Lender after Assignment.
Notwithstanding anything to the contrary contained herein, if at any time KeyBank assigns all of its Revolving Credit Commitment and Revolving Credit Loans pursuant to subsection (b) above, KeyBank may, (i) upon thirty (30) days’
notice to Timken and the Lenders, resign as L/C Issuer and/or (ii) upon thirty (30) days’ notice to Timken, resign as Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing Line Lender, Timken shall be entitled
to appoint from among the Lenders a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure by Timken to appoint any such successor shall affect the resignation of KeyBank as L/C Issuer or Swing Line
Lender, as the case may be. If KeyBank resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as
L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Revolving Credit Loans that are Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to
Section 2.03(c)). If KeyBank resigns as Swing Line Lender, it shall retain all the rights, powers, privileges and duties of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and
outstanding as of the effective date of such resignation, including the right to require the Lenders to make Revolving Credit Loans that are Base Rate Loans or fund 

  
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risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (1) such
successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (2) the successor L/C Issuer shall issue letters of credit in
substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to KeyBank to effectively assume the obligations of KeyBank with respect to such Letters of Credit. 

(h)    Notwithstanding anything to the contrary contained herein, any Lender (a
“Granting Lender”) may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Paying Agent and Timken (an “SPC”) the option to provide all or any
part of any Loan that such Granting Lender would otherwise be obligated to make pursuant to this Agreement; provided that (i) nothing herein shall constitute a commitment by any SPC to fund any Loan, and (ii) if an SPC elects not to
exercise such option or otherwise fails to make all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof. Each party hereto hereby agrees that (i) neither the grant to any SPC nor the
exercise by any SPC of such option shall increase the costs or expenses or otherwise increase or change the obligations of Timken under this Agreement (including its obligations under Section 3.04), (ii) no SPC shall be
liable for any indemnity or similar payment obligation under this Agreement for which a Lender would be liable, and (iii) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any
provision of any Loan Document, remain the lender of record hereunder. The making of a Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. In
furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or
other senior debt of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding under the Laws of the United States or any
State thereof. Notwithstanding anything to the contrary contained herein, any SPC may (i) with notice to, but without prior consent of Timken and the Paying Agent and with the payment of a processing fee of $3,500, assign all or any portion of
its right to receive payment with respect to any Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency,
commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPC. 
  

	 	11.08	 Confidentiality. 

Each of the Agents, the L/C Issuer and the Lenders agrees to maintain the confidentiality of the Information, except that
Information may be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including accountants, auditors, legal counsel and other advisors who need to know such Information (and provided that such Information
is only used by such Affiliates’ directors, officers, employees, agents, accountants, auditors, legal counsel and other advisors in connection with the services for which such Information is necessary) (it being understood that the Persons to
whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential); (b) to the extent required or requested by any regulatory authority purporting to have jurisdiction
over such Person or its Related Parties; (c) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process; (d) to any other party to this Agreement; (e) in connection with the exercise of any
remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder; (f) to (i) any Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or Participant in, any of its
rights or obligations under this Agreement 

  
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or (ii) any direct or indirect contractual counterparty or prospective counterparty (or such contractual counterparty’s or prospective counterparty’s professional advisor) to any
credit derivative transaction relating to obligations of the Loan Parties; (g) with the consent of Timken; (h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this
Section 11.08 or (ii) becomes available to any Agent or any Lender on a nonconfidential basis from a source other than Timken; (i) to any state, Federal or foreign authority or examiner (including the National
Association of Insurance Commissioners or any other similar organization) regulating, or any self-regulatory body having or claiming authority to regulate or oversee, any Lender or any Affiliate of a Lender; (j) to any rating agency when
required by it (it being understood that, prior to any such disclosure, such rating agency shall undertake to preserve the confidentiality of any Information relating to the Loan Parties received by it from such Lender) or (k) on a confidential
basis, to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit facilities provided hereunder. In addition, the Agents and the Lenders
may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service providers to the lending industry, and service providers to the Agents and the Lenders in connection with the administration
and management of this Agreement, the other Loan Documents, the Commitments, and the Credit Extensions. For the purposes of this Section 11.08, “Information” means all information received from any Loan
Party from time to time provided during the term of this Agreement (including, without limitation at bank meetings) relating to any Loan Party or its business, other than any such information that is available to any Agent or any Lender on a
nonconfidential basis prior to disclosure by any Loan Party. Any Person required to maintain the confidentiality of Information as provided in this Section 11.08 shall be considered to have complied with its obligation to
do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. Without limiting the generality of the foregoing, it is Timken’s
intent that this Section 11.08 comply with the requirements of Regulation FD promulgated by the Securities and Exchange Commission and Rule 100(b)(2) thereunder. 

Each of the Agents, the Lenders and the L/C Issuer acknowledges that (a) the Information may include material non-public information concerning Timken or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public
information and (c) it will handle such material non-public information in accordance with applicable Law, including United States Federal and state securities Laws. 

 

	 	11.09	 Setoff. 

In addition to any rights and remedies of the Lenders provided by law, upon the occurrence and during the continuance of any
Event of Default, each Lender, the L/C Issuer and each of their respective Affiliates is authorized at any time and from time to time, without prior notice to Timken or any other Loan Party, any such notice being waived by Timken (on its own behalf
and on behalf of each Loan Party) to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held by, and other Indebtedness at any time owing by, such
Lender, the L/C Issuer or any such Affiliate to or for the credit or the account of the respective Loan Parties against any and all Obligations owing to such Lender hereunder or under any other Loan Document, now or hereafter existing, irrespective
of whether or not such Agent or such Lender, L/C Issuer or Affiliate shall have made demand under this Agreement or any other Loan Document and although such Obligations may be contingent or unmatured or denominated in a currency different from that
of the applicable deposit or Indebtedness; provided, that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Agents for further application in
accordance with the provisions of Section 2.16 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Agents, the L/C Issuer and the
Lenders, and (y) the Defaulting Lender shall provide promptly to the Agents a statement describing in 

  
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reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender, the L/C Issuer and their respective Affiliates under
this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the L/C Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer agrees promptly to notify Timken and the Paying
Agent after any such setoff and application made by such Lender; provided, however, that the failure to give such notice shall not affect the validity of such setoff and application. The rights of each Agent and each Lender and their
respective Affiliates under this Section 11.09 are in addition to other rights and remedies (including, without limitation, other rights of setoff) that such Agent, such Lender and their respective Affiliates may have. 

 

	 	11.10	 Interest Rate Limitation. 

Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan
Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If any Agent or any Lender shall receive interest in an amount that
exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the applicable Borrower. In determining whether the interest contracted for, charged, or received by an
Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary
prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 

 

	 	11.11	 [Reserved]. 

 

	 	11.12	 Integration; Effectiveness. 

This Agreement, together with the other Loan Documents, comprises the complete and integrated agreement of the parties on the
subject matter hereof and thereof and supersedes all prior agreements, written or oral, on such subject matter. In the event of any conflict between the provisions of this Agreement and those of any other Loan Document, the provisions of this
Agreement shall control; provided that the inclusion of supplemental rights or remedies in favor of the Agents or the Lenders in any other Loan Document shall not be deemed a conflict with this Agreement. Each Loan Document was drafted with the
joint participation of the respective parties thereto and shall be construed neither against nor in favor of any party, but rather in accordance with the fair meaning thereof. Except as provided in Section 5.01, this
Agreement shall become effective when it shall have been executed by the Agents and when the Agents shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be
binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
  

	 	11.13	 Survival of Representations and Warranties. 

All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto
or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by each Agent and each Lender, regardless of any investigation made
by any Agent or any Lender or on their behalf and notwithstanding that any Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect until such time as the
Obligations have been Fully Satisfied. 
  

	 	11.14	 Severability. 

  
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 If any provision of this Agreement or the other Loan Documents is held to be
illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in
good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a
provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 11.14, if and to the extent that the
enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Co-Administrative Agents, the L/C Issuer or the
Swing Line Lender, as applicable, then such provisions shall be deemed to be in effect only to the extent not so limited. 
  

	 	11.15	 [Reserved]. 

 

	 	11.16	 Replacement of Lenders. 

If Timken is entitled to replace a Lender pursuant to the provisions of Section 3.06, or if any Lender is a Defaulting
Lender or a Non-Consenting Lender, then Timken may, at its sole expense and effort, upon notice to such Lender and the Co-Administrative Agents, require such Lender to
assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 11.07), all of its interests, rights (other than its existing rights to payments pursuant to Sections 3.01
and 3.04) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that: 

(a)      Timken shall have paid to the Paying Agent the assignment fee (if any)
specified in Section 11.07(b); 
 (b)      such
Lender shall have received payment of an amount equal to the outstanding principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any
amounts under Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or Timken (in the case of all other amounts); 

(c)      in the case of any such assignment resulting from a claim for
compensation under Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; 

(d)      such assignment does not conflict with applicable Laws; and 

(e)      in the case of an assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall have consented to the applicable amendment, waiver or consent. 

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such
Lender or otherwise, the circumstances entitling Timken to require such assignment and delegation cease to apply. 
 Each
party hereto agrees that (a) an assignment required pursuant to this Section 11.16 may be effected pursuant to an Assignment and Assumption executed by Timken, the
Co-Administrative Agents and the assignee and (b) the Lender required to make such assignment need not be a party thereto in order 

  
 117 

 
for such assignment to be effective and shall be deemed to have consented to an be bound by the terms thereof; provided, that, following the effectiveness of any such assignment,
the other parties to such assignment agree to execute and deliver such documents necessary to evidence such assignment as reasonably requested by the applicable Lender; provided, further, that, any such documents shall be
without recourse to or warranty by the parties thereto. 
 Notwithstanding anything in this
Section 11.16 to the contrary, (i) any Lender that acts as an L/C Issuer may not be replaced hereunder at any time it has any Letter of Credit outstanding hereunder unless arrangements satisfactory to such L/C Issuer
(including the furnishing of a backstop standby letter of credit in form and substance, and issued by an issuer, reasonably satisfactory to the L/C Issuer or the depositing of cash collateral into a cash collateral account in amounts and pursuant to
arrangements reasonably satisfactory to the L/C Issuer) have been made with respect to such outstanding Letter of Credit and (ii) any Lender that acts as an Agent may not be replaced hereunder except in accordance with the terms of
Section 10.06. 
  

	 	11.17	 Judgment. 

(a)      If for the purposes of obtaining judgment in any court it is necessary
to convert a sum due hereunder in Dollars into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures Bank
of America could purchase Dollars with such other currency at Bank of America’s principal office in London at 5:00 p.m. on the Business Day preceding that on which final judgment is given. 

(b)      If for the purposes of obtaining judgment in any court it is necessary
to convert a sum due hereunder in a Committed Currency into Dollars, the parties agree to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures Bank of
America could purchase such Committed Currency with Dollars at Bank of America’s principal office in London at 5:00 p.m. on the Business Day preceding that on which final judgment is given. 

(c)      The obligation of the Borrowers in respect of any sum due from it in
any currency (the “Primary Currency”) to any Lender or any Agent hereunder shall, notwithstanding any judgment in any other currency, be discharged only to the extent that on the Business Day following receipt by such Lender or such
Agent (as the case may be), of any sum adjudged to be so due in such other currency, such Lender or such Agent (as the case may be) may in accordance with normal banking procedures purchase the applicable Primary Currency with such other currency.
If the amount of the applicable Primary Currency so purchased is less than such sum due to such Lender or such Agent (as the case may be) in the applicable Primary Currency, each Borrower agrees, as a separate obligation and notwithstanding any such
judgment, to indemnify such Lender or such Agent (as the case may be) against such loss, and if the amount of the applicable Primary Currency so purchased exceeds such sum due to any Lender or any Agent (as the case may be) in the applicable Primary
Currency, such Lender or such Agent (as the case may be) agrees to remit to such Borrower such excess. 
  

	 	11.18	 Substitution of Currency. 

(a)      Each obligation of the Borrowers to make a payment denominated in the national currency
unit of any member state of the European Union that adopts the Euro as its lawful currency after the Closing Date shall be redenominated into Euro at the time of such adoption. If, in relation to the currency of any such member state, the basis of
accrual of interest expressed in this Agreement in respect of that currency shall be 

  
 118 

 
inconsistent with any convention or practice in the interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or
practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that, if any Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall
take effect, with respect to such Borrowing, at the end of the then current Interest Period. 

(b)      Each provision of this Agreement shall be subject to such reasonable changes of
construction as the Paying Agent may from time to time specify to be appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro. 

(c)      If a change in any Committed Currency occurs pursuant to any applicable Law, rule or
regulation of any governmental, monetary or multi-national authority, this Agreement will be amended to the extent determined by the Paying Agent (acting reasonably and in consultation with Timken) to be necessary to reflect the change in currency
and to put the Lenders and the Borrowers in the same position, so far as possible, that they would have been in if no change in such Committed Currency had occurred. 
  

	 	11.19	 Governing Law; Jurisdiction, Etc. 

(a)      GOVERNING LAW. THIS AGREEMENT AND EACH OTHER LOAN DOCUMENT AND
ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH
THEREIN) AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(b)      SUBMISSION TO JURISDICTION. TIMKEN AND EACH OTHER LOAN PARTY
IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST ANY AGENT, ANY LENDER, THE L/C ISSUER,
OR ANY RELATED PARTY OF THE FOREGOING IN ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE
UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN
RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN
ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT
THAT ANY AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST TIMKEN OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

  
 119 

 (c)      WAIVER OF
VENUE. TIMKEN, EACH OTHER LOAN PARTY, EACH AGENT AND EACH LENDER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(d)      SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO
SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

 

	 	11.20	 Waiver of Trial by Jury. 

EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A
TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY
HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

 

	 	11.21	 No Advisory or Fiduciary Responsibility. 

In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or
other modification hereof or of any other Loan Document), Timken acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (i) (A) the arranging and other services regarding this Agreement provided by the Agents, the
Arrangers, and the Lenders are arm’s-length commercial transactions between Timken and its Affiliates, on the one hand, and the Agents, the Arrangers, and the Lenders, on the other hand, (B) Timken
has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) Timken is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated
hereby and by the other Loan Documents; (ii) (A) the Agents, the Arrangers and each Lender is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be
acting as an advisor, agent or fiduciary for Timken or any of its Affiliates, or any other Person and (B) neither the Agents, the Arrangers nor any Lender has any obligation to Timken or any of its Affiliates with respect to the transactions
contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Agents, the Arrangers and the Lenders and their respective Affiliates may be engaged in a broad range of transactions that
involve interests that differ from those of Timken and its Affiliates, and neither the Agents, the Arrangers, nor any Lender has any obligation 

  
 120 

 
to disclose any of such interests to Timken or its Affiliates. To the fullest extent permitted by law, Timken hereby waives and releases any claims that it may have against the Agents, the
Arrangers or any Lender with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 
  

	 	11.22	 PATRIOT Act Notice. 

Each Lender that is subject to the PATRIOT Act and each Co-Administrative Agent (for
itself and not on behalf of any Lender) hereby notifies Timken and the other Loan Parties that pursuant to the requirements of the PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “PATRIOT Act”), it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of such Loan Party and other information that will allow such
Lender or such Co-Administrative Agent, as applicable, to identify each Loan Party in accordance with the PATRIOT Act. Each Borrower and the Loan Parties agree to, promptly following a request by the Co-Administrative Agents or any Lender, provide all such other documentation and information that the Co-Administrative Agents or such Lender requests in order to comply with
its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act. 
  

	 	11.23	 Electronic Execution; Electronic Records; Counterparts. 

This Agreement, any Loan Document and any other Communication, including Communications required to be in writing, may be in
the form of an Electronic Record and may be executed using Electronic Signatures. Each of the Loan Parties and each Lender Party agrees that any Electronic Signature on or associated with any Communication shall be valid and binding on such Person
to the same extent as a manual, original signature, and that any Communication entered into by Electronic Signature, will constitute the legal, valid and binding obligation of such Person enforceable against such Person in accordance with the terms
thereof to the same extent as if a manually executed original signature was delivered. Any Communication may be executed in as many counterparts as necessary or convenient, including both paper and electronic counterparts, but all such
counterparts are one and the same Communication. For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance of a manually signed paper Communication which has been converted into
electronic form (such as scanned into PDF format), or an electronically signed Communication converted into another format, for transmission, delivery and/or retention. Each of the Lender Parties may, at its option, create one or more copies of any
Communication in the form of an imaged Electronic Record (an “Electronic Copy”), which shall be deemed created in the ordinary course of such Person’s business, and destroy the original paper document. All Communications
in the form of an Electronic Record, including an Electronic Copy, shall be considered an original for all purposes, and shall have the same legal effect, validity and enforceability as a paper record. Notwithstanding anything contained herein to
the contrary, none of any Agent, the L/C Issuer or the Swing Line Lender is under any obligation to accept an Electronic Signature in any form or in any format unless expressly agreed to by such Person pursuant to procedures approved by it;
provided, further, that, the foregoing, (a) to the extent any Agent, the L/C Issuer and/or the Swing Line Lender has agreed to accept such Electronic Signature, each of the Lender Parties shall be entitled to rely on any
such Electronic Signature purportedly given by or on behalf of any Loan Party and/or any Lender Party without further verification and (b) upon the request of any Lender Party, any Electronic Signature shall be promptly followed by such
manually executed counterpart.
 None of any Agent, the L/C Issuer or the Swing Line Lender shall be responsible for or have
any duty to ascertain or inquire into the sufficiency, validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document (including, for the avoidance of doubt, in connection with any
Agent’s, the L/C Issuer’s or the Swing Line Lender’s reliance on any Electronic 

  
 121 

 
Signature transmitted by telecopy, emailed .pdf or any other electronic means). Each Agent, the L/C Issuer and the Swing Line Lender shall be entitled to rely on, and shall incur no liability
under or in respect of this Agreement or any other Loan Document by acting upon, any Communication (which writing may be a fax, any electronic message, Internet or intranet website posting or other distribution or signed using an Electronic
Signature) or any statement made to it orally or by telephone and believed by it to be genuine and signed or sent or otherwise authenticated (whether or not such Person in fact meets the requirements set forth in the Loan Documents for being the
maker thereof). 
 Each Loan Party and each Lender Party hereby waives (i) any argument, defense or right to contest
the legal effect, validity or enforceability of this Agreement, any other Loan Document based solely on the lack of paper original copies of this Agreement, such other Loan Document, and (ii) waives any claim against any Lender Party and any
Related Party for any liabilities arising solely from any Lender Party’s reliance on or use of Electronic Signatures, including any liabilities arising as a result of the failure of the Loan Parties to use any available security measures in
connection with the execution, delivery or transmission of any Electronic Signature. 
  

	 	11.24	 Acknowledgement Regarding Any Supported QFCs. 

To the extent that the Loan Documents provide support, through a Guarantee or otherwise, for any Swap Contract or any other
agreement or instrument that is a QFC (such support, “QFC Credit Support”, and each such QFC, a “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of the Federal
Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder, the “U.S. Special Resolution
Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York
and/or of the United States or any other state of the United States):  

(a)    In the event a Covered Entity that is party to a Supported QFC (each, a
“Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC
and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime
if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a
Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party
are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the
United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or
any QFC Credit Support. 
 (b)    As used in this
Section 11.24, the following terms have the following meanings: 
 “BHC
Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party. 

  
 122 

 “Covered Entity” means any of the
following: (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12
C.F.R. § 47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). 

“Default Right” has the meaning assigned to that term in, and shall be interpreted in
accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. 
 “QFC”
has the meaning assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 
  

	 	11.25	 Acknowledgement and Consent to Bail-In of Affected Financial
Institutions. 

 Notwithstanding anything to the contrary in any Loan Document or in any other
agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender or L/C Issuer that is an Affected Financial Institution arising under any Loan Document, to the extent such liability is
unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:  

(a)    the application of any Write-Down and Conversion Powers by the applicable
Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Lender or L/C Issuer that is an Affected Financial Institution; and 

(b)    the effects of any Bail-In Action on any
such liability, including, if applicable: 

(i)          a reduction in full or in part or cancellation
of any such liability; 
 (ii)        a conversion of all, or a
portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other
instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or 

(iii)     the variation of the terms of such liability in connection with the
exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority. 
 [THE BALANCE OF THIS PAGE IS INTENTIONALLY
LEFT BLANK] 

  
 123 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the date first above written. 
  

							
	 BORROWER:
	 		 	 THE TIMKEN COMPANY,

an Ohio corporation

				
		 		 	 By:
	 	 /s/ Philip D. Fracassa

		 		 	 Name: Philip D Fracassa

		 		 	 Title:   Executive Vice President and Chief Financial Officer

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
	 CO-ADMINISTRATIVE AGENTS:
	 		 	 KEYBANK NATIONAL ASSOCIATION,

as Co-Administrative Agent and Paying Agent

				
		 		 	 By:
	 	 /s/ Michael G. Kousaie

		 		 	 Name: Michael G. Kousaie

		 		 	 Title:   Vice President

			
		 		 	 BANK OF AMERICA, N.A.,

as Co-Administrative Agent

				
		 		 	 By:
	 	 /s/ Michael Contreras

		 		 	 Name: Michael Contreras

		 		 	 Title:   Director

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
	 LENDERS:
	 		 	 KEYBANK NATIONAL ASSOCIATION,

as L/C Issuer, Swing Line Lender and a Lender

				
		 		 	 By:
	 	 /s/ Michael G. Kousaie

		 		 	 Name: Michael G. Kousaie

		 		 	 Title:   Vice President

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 BANK OF AMERICA, N.A.,

as a Lender

				
		 		 	 By:
	 	 /s/ Michael Contreras

		 		 	 Name: Michael Contreras

		 		 	 Title:   Director

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 JPMORGAN CHASE BANK, N.A.,

as a Lender

				
		 		 	 By:
	 	 /s/ Eric B. Bergeson

		 		 	 Name: Eric B. Bergeson

		 		 	 Title:   Authorized Officer

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 PNC BANK, NATIONAL ASSOCIATION,

as a Lender

				
		 		 	 By:
	 	 /s/ Scott A. Nolan

		 		 	 Name: Scott A. Nolan

		 		 	 Title:   Senior Vice President

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as a Lender

				
		 		 	 By:
	 	 /s/ Greg Strauss

		 		 	 Name: Greg Strauss

		 		 	 Title:   Managing Director

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 FIRST NATIONAL BANK OF PENNSYLVANIA,

as a Lender

				
		 		 	 By:
	 	 /s/ Linda Nuosci

		 		 	 Name: Linda Nuosci

		 		 	 Title:   VP

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 HSBC BANK USA, NATIONAL ASSOCIATION,

as a Lender

				
		 		 	 By:
	 	 /s/ Kyle Patterson

		 		 	 Name: Kyle Patterson

		 		 	 Title:   Senior Vice President

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 STANDARD CHARTERED BANK,

as a Lender

				
		 		 	 By:
	 	 /s/ Kristopher Tracy

		 		 	 Name: Kristopher Tracy

		 		 	 Title:   Director, Financing Solutions

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 U.S. BANK NATIONAL ASSOCIATION,

as a Lender

				
		 		 	 By:
	 	 /s/ Rodney J Winters

		 		 	 Name: RODNEY J WINTERS

		 		 	 Title:   VICE PRESIDENT

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 GOLDMAN SACHS BANK USA,

as a Lender

				
		 		 	 By:
	 	 /s/ Jonathan Dworkin

		 		 	 Name: Jonathan Dworkin

		 		 	 Title:   Authorized Signatory

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 MUFG BANK, LTD.,

as a Lender

				
		 		 	 By:
	 	 /s/ John Margetanski

		 		 	 Name: John Margetanski

		 		 	 Title:   Director

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 THE NORTHERN TRUST COMPANY,

as a Lender

				
		 		 	 By:
	 	 /s/ Andrew D. Holtz

		 		 	 Name: Andrew D. Holtz

		 		 	 Title:   Senior Vice President

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 ROYAL BANK OF CANADA,

as a Lender

				
		 		 	 By:
	 	 /s/ Alisa Buttar

		 		 	 Name: Alisa Buttar

		 		 	 Title:   Vice President – Corporate Client Group Finance

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

							
		 		 	 SOCIÉTÉ GÉNÉRALE,

as a Lender

				
		 		 	 By:
	 	 /s/ Shelly Yu

		 		 	 Name: Shelly Yu

		 		 	 Title:   Director

  
 THE TIMKEN COMPANY 

FIFTH AMENDED AND RESTATED CREDIT AGREEMENT 

 EXHIBIT A 

FORM OF COMMITTED LOAN NOTICE 

Date: ____________, _____ 
  

	To:	 KeyBank National Association, as Paying Agent 

Ladies and Gentlemen: 

Reference is made to that certain Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among The Timken Company, an Ohio corporation
(“Timken”), any Subsidiary of Timken that becomes party thereto pursuant to Section 2.17 of the Agreement (each such Subsidiary, a “Designated Borrower” and, together with Timken, the
“Borrowers” and each a “Borrower”), Bank of America, N.A. and KeyBank National Association, as Co-Administrative Agents, KeyBank National Association, as Paying Agent, each
lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”), and KeyBank National Association, as L/C Issuer and Swing Line Lender. 

The undersigned hereby requests, on behalf of itself or, if applicable, such Designated Borrower referenced in item 6
below (select one): 
  

	 	☐	 A Borrowing of [Revolving Credit Loans] [the Term Loan] 

	 	☐	 A conversion or continuation of [Revolving Credit Loans] [the Term Loan] 

 

	 	1.	 On _____________________ (a Business Day). 

 

	 	2.	 In the amount of_________________________. 

 

	 	3.	 Comprised of____________________________. 

	 	                                  
      [Type	 of Loan requested] 

 

	 	4.	
Currency:                     
                                         
   (Dollars or a Committed Currency). 

  

	 	5.	 For Term SOFR Loans or Committed Currency Term Rate Loans: with an Interest Period of ____ months.

  

	 	6.	 [For Timken.] or [On behalf of [name of applicable Designated Borrower].] 

[The Committed Borrowing requested herein complies with the proviso in Section 2.01(b) of the
Agreement.]1 [Timken hereby represents and warrants that the conditions set forth in Section 5.02(a) and (b) of the Credit Agreement will have been satisfied
on and as of the date of the requested Credit Extension.] 
  
  

1 In the case of Revolving Credit Borrowings. 

							
		 		 	 THE TIMKEN COMPANY,

an Ohio corporation

				
		 		 	 By:
	 	
                       
                                         
    

		 		 	 Name:

		 		 	 Title:

 EXHIBIT B 

FORM OF SWING LINE LOAN NOTICE 

Date: ____________, _____ 
  

	To:	 KeyBank National Association, as Paying Agent and Swing Line Lender 

Ladies and Gentlemen: 

Reference is made to that certain Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among The Timken Company, an Ohio corporation
(“Timken”), any Subsidiary of Timken that becomes party thereto pursuant to Section 2.17 of the Agreement (each such Subsidiary, a “Designated Borrower” and, together with Timken, the
“Borrowers” and each a “Borrower”), Bank of America, N.A. and KeyBank National Association, as Co-Administrative Agents, KeyBank National Association, as Paying Agent, each
lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”), and KeyBank National Association, as L/C Issuer and Swing Line Lender. 

The undersigned hereby requests a Swing Line Loan: 
  

	 	1.	 On __________________ (a Business Day). 

 

	 	2.	 In the amount of $____________________. 

The Swing Line Borrowing requested herein complies with the requirements of the provisos to the first sentence of
Section 2.04(a) of the Agreement.                 
  

							
		 		 	 THE TIMKEN COMPANY,

an Ohio corporation

				
		 		 	 By:
	 	
                       
                                     

		 		 	 Name:

		 		 	 Title:

 EXHIBIT C 

FORM OF REVOLVING CREDIT NOTE 

                    ,  
            
 FOR VALUE RECEIVED, the undersigned (the
“Borrower”), hereby promises to pay to ________________________ or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the unpaid principal amount of each
Revolving Credit Loan from time to time made by the Lender to the Borrower under that certain Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended, restated, extended, supplemented or otherwise modified in
writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among Timken, the Designated Borrowers from time to time party thereto, the Lender, Bank of America, N.A. and KeyBank
National Association, as Co-Administrative Agents, KeyBank National Association, as Paying Agent, each other lender from time to time party thereto, and KeyBank National Association, as L/C Issuer and Swing
Line Lender. 
 The Borrower promises to pay interest on the unpaid principal amount of each Revolving Credit Loan from the
date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. Except as otherwise provided in Section 2.04(f) of the Agreement with respect to Swing
Line Loans, all payments of principal and interest shall be made to the Paying Agent for the account of the Lender in Dollars or the Committed Currency, as applicable, in which such Revolving Credit Loan is denominated in immediately available funds
at the Paying Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after
judgment) computed at the per annum rate set forth in the Agreement. 
 This Revolving Credit Note is one of the Revolving
Credit Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided therein. This Revolving Credit Note is also entitled to the benefits of the Subsidiary
Guaranty Agreement, if applicable [and the Timken Guaranty Agreement]. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Revolving Credit Note shall
become, or may be declared to be, immediately due and payable all as provided in the Agreement. Revolving Credit Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of
business. The Lender may also attach schedules to this Revolving Credit Note and endorse thereon the date, amount and maturity of its Revolving Credit Loans and payments with respect thereto. 

The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of
protest, demand, dishonor and non-payment of this Revolving Credit Note. 
 THIS
NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
  

							
		 		 	[THE TIMKEN COMPANY][DESIGNATED BORROWER]
				
		 		 	By:	 	                                      
                                  
		 		 	 Name:

		 		 	 Title:

 EXHIBIT D 

FORM OF COMPLIANCE CERTIFICATE 
  

	
	☐ Check for distribution to public and private side Lenders

 Financial Statement Date: _________ 

To: Each Agent and each Lender as defined in the Agreement referred to below 

Ladies and Gentlemen: 

Reference is made to that certain Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among The Timken Company, an Ohio corporation
(“Timken”), any Subsidiary of Timken that becomes party thereto pursuant to Section 2.17 of the Agreement (each such Subsidiary, a “Designated Borrower” and, together with Timken, the
“Borrowers” and each a “Borrower”), Bank of America, N.A. and KeyBank National Association, as Co-Administrative Agents, KeyBank National Association, as Paying Agent, each
lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”), and KeyBank National Association, as L/C Issuer and Swing Line Lender. 

The undersigned Responsible Officer hereby certifies, in his/her capacity as a Responsible Officer and not in his/her
individual capacity, as of the date hereof that he/she is the _________________________________________________ of Timken, and that, as such, he/she is authorized to execute and deliver this Compliance Certificate to the Agents and the Lenders on
the behalf of Timken, and that: 
 [Use following paragraph 1 for fiscal year-end financial
statements] 
 1.         Attached hereto as Schedule 1 are the year-end audited financial statements required by Section 7.01(a) of the Agreement for the fiscal year of Timken ended as of the above date, together with the report and opinion of an
independent certified public accountant required by such Section. In lieu of attaching such year-end audited financial statements, to the extent such documents are filed with the SEC, the documents shall be
deemed to have been delivered on the date on which Timken posts such documents on its website or on the SEC’s EDGAR system. Notwithstanding the foregoing, Timken shall deliver electronic copies of such documents to any Lender that requests
Timken to deliver such electronic copies. 
 [Use following paragraph 1 for fiscal quarter-end
financial statements] 
 1.         Attached hereto as Schedule 1 are the
unaudited financial statements required by Section 7.01(b) of the Agreement for the fiscal quarter of Timken ended as of the above date. Such financial statements fairly present the financial condition, results of
operations, shareholders’ equity and cash flows of Timken and its Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes. In lieu of attaching
such unaudited financial statements, to the extent such documents are filed with the SEC, the documents shall be deemed to have been delivered on the date on which Timken posts such documents on its website or on the SEC’s EDGAR
system.

 
Notwithstanding the foregoing, Timken shall deliver electronic copies of such documents to any Lender that requests Timken to deliver such electronic copies. 

2.         The undersigned has reviewed and is familiar with the terms of the
Agreement and has made, or has caused to be made under his/her supervision, a detailed review of the transactions and condition (financial or otherwise) of Timken during the accounting period covered by the attached financial statements. 

3.         A review of the activities of Timken during such fiscal period has been
made under the supervision of the undersigned with a view to determining whether during such fiscal period Timken performed and observed all its Obligations under the Loan Documents, and 

[select one.] 

[to the best knowledge of the undersigned during such fiscal period, Timken performed and observed each covenant and condition
of the Loan Documents applicable to it, and no Default or Event of Default has occurred and is continuing.] 
 --or-- 
 [the following covenants or conditions
have not been performed or observed and the following is a list of each such Default or Event of Default and its nature and status:] 

4.         The financial covenant analyses and information set forth on Schedule
2 attached hereto are true and accurate on and as of the date of this Compliance Certificate. 
 IN WITNESS WHEREOF, the
undersigned has executed this Compliance Certificate as of _____________, ____________. 
  

							
		 		 	 THE TIMKEN COMPANY,
 an Ohio
corporation

				
		 		 	 By:
	 	
                       
                                         
        

		 		 	 Name:

		 		 	 Title:

 SCHEDULE 1 

to the Compliance Certificate 

Please see attached. 

 SCHEDULE 2 

to the Compliance Certificate 
 ($
in 000’s) 
 For the Quarter/Year ended _____________________ (“Statement Date”) 

 

	 	

  

									
	 I.
	 	 Section 8.11(a) — Consolidated Net Leverage Ratio.
	  	
				
		 	 A.
	 	 Consolidated EBITDA for such period.
	  	
					
		 		 	 1.
	  	 Consolidated Net Income:
	  	 $            

					
		 		 	 2.
	  	 Consolidated Interest Charges (from Line II.B.1):
	  	 $            

					
		 		 	 3.
	  	 federal, state, local and foreign income taxes (provision for income taxes):
	  	 $            

					
		 		 	 4.
	  	 depreciation and amortization expense:
	  	 $            

					
		 		 	 5.
	  	 other non-recurring charges and expenses reducing Consolidated Net Income which do
not represent a cash item in such period or any future period:
	  	 $            

					
		 		 	 6.
	  	 any losses realized upon Disposition of assets outside the ordinary course of business:
	  	 $            

					
		 		 	 7.
	  	 the aggregate amount of non-cash impairment, restructuring, reorganization,
implementation, manufacturing rationalization and other special charges:
	  	 $            

					
		 		 	 8.
	  	 non-cash stock-based compensation expense:
	  	 $            

					
		 		 	 9.
	  	 all non-recurring material non-cash items
increasing Consolidated Net Income:
	  	 $            

					
		 		 	 10.
	  	 any gains realized upon the Disposition of assets outside the ordinary course of business:
	  	 $            

					
		 		 	 11.
	  	 payments (net of expenses) received with respect to the United States – Continued Dumping and Subsidy Offset Act of
2000:
	  	 $            

					
		 		 	 12.
	  	 Consolidated EBITDA (Lines I.A.1 + I.A.2 + I.A.3 + I.A.4 + I.A.5 + I.A.6 + I.A.7 + I.A.8 - I.A.9 - I.A.10 -
I.A.11):
	  	 $            

				
		 	 B.
	 	 Consolidated Funded Indebtedness.
	  	
					
		 		 	 1.
	  	 the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including
Obligations under the Agreement) and all obligations evidenced by bonds,
	  	

									
		 		 		  	 debentures, notes, loan agreements or other similar instruments (which amount, for the avoidance of doubt, includes only
the drawn portion of any line of credit or revolving credit facility):
	  	 $            

					
		 	 2.
	 		  	 all purchase money Indebtedness:
	  	 $            

					
		 	 3.
	 		  	 all direct obligations arising under letters of credit (including standby and commercial), bankers’ acceptances, bank
guaranties, surety bonds and similar instruments (which amount, for the avoidance of doubt, includes only the drawn portion of any line of credit or revolving credit facility):
	  	 $            

					
		 	 4.
	 		  	 all obligations in respect of the deferred purchase price of property or services (other than (i) trade accounts
payable in the ordinary course of business and (ii) earn-outs, hold-backs and other deferred payment of consideration in connection with Permitted Acquisitions to the extent not required to be reflected as liabilities on the balance sheet of
Timken and its Subsidiaries in accordance with GAAP):
	  	 $            

					
		 	 5.
	 		  	 Attributable Indebtedness in respect of capital leases and Synthetic Lease Obligations:
	  	 $            

					
		 	 6.
	 		  	 without duplication, all Guarantees with respect to outstanding Indebtedness (other than Indebtedness that is contingent in
nature) of the types specified in Lines I.B.1 through I.B.6 of Persons other than Timken or any Subsidiary:
	  	 $            

					
		 	 7.
	 		  	 all Indebtedness of the types referred to in Lines I.B.1 through I.B.6 of any partnership or joint venture (other than a
joint venture that is itself a corporation or limited liability company) in which Timken or a Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to Timken or such Subsidiary:
	  	 $            

					
		 	 8.
	 		  	 Consolidated Funded Indebtedness: Lines I.B.1 + I.B.2 + I.B.3 + I.B.4 + I.B.5 + I.B.6 + I.B.7:
	  	 $            

			
	 C.
	 	 Unrestricted Cash in excess of $25,000,000 as of such date:
	  	
					
		 	 1.
	 		  	 all Unrestricted Cash:
	  	 $            

					
		 	 2.
	 		  	 $25,000,000
	  	
					
		 	 3.
	 		  	 Unrestricted Cash in excess of $25,000,000

(Line I.C.1 – Line I.C.2)
	  	 $            

			
	 D.
	 	 Consolidated Net Leverage Ratio ((Line I.B.8 – Line I.C.3) ÷ Line
I.A.12):                
	  	 ___ to 1.0

									
		 	 Maximum permitted: 3.50 to 1.0; provided that, following the consummation of a
Qualified Acquisition and receipt by the Co-Administrative Agents of a Leverage Increase Notice, the Consolidated Net Leverage Ratio shall not be greater than 4.00 to 1.0 during such Leverage Increase Period;
provided further that, after the occurrence of any Leverage Increase Period, the Consolidated Net Leverage Ratio shall be no greater than 3.50 to 1.0 as of the end of at least one fiscal quarter before a subsequent Leverage Increase
Period may be permitted to commence.

			
	 II.
	 	 Section 8.11(b) — Consolidated Interest Coverage Ratio.
	  	
					
		 	 A.
	 		  	 Consolidated EBITDA for such period (from Line I.A.12):
	  	 $            

					
		 	 B.
	 		  	 Consolidated Interest Charges
	  	
					
		 		 		  	 all interest, premium payments, debt discount, fees, charges and related expenses of Timken and its
Subsidiaries in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, net of interest income in accordance
with GAAP:
	  	 $            

					
		 	 C.
	 		  	 Consolidated Interest Coverage Ratio (Line II.A. ÷ Line II.B.):
	  	 ____ to 1.0

					
		 		 		  	Minimum required: 3.00 to 1.0	  	

 EXHIBIT E 

ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth
below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them
in the Credit Agreement identified below (the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and
incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an
agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit
Agreement, as of the Effective Date inserted by the Paying Agent as contemplated below (i) all of the Assignor’s rights and obligations as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant
thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the respective facilities identified below (including, without limitation, Letters of
Credit, Guaranty and Swing Line Loans included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other rights of the Assignor (in its capacity as a Lender)
against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any
of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above
(the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as, the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except
as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 
  

					
	 1.
	  	 Assignor:
	 	
                       
                                     

		  		 	 [Assignor [is][is not] a Defaulting Lender.]

			
	 2.
	  	 Assignee:
	 	
                       
                                         

		  		 	 [and is an Affiliate/Approved Fund of [identify
Lender]1]

			
	 3.
	  	 Borrowers:
	 	 The Timken Company (“Timken”) and the Designated Borrowers from time to time party to the Credit Agreement
(together with Timken, the “Borrowers” and each a “Borrower”)

			
	 4.
	  	 Paying Agent:
	 	 KeyBank National Association, as the paying agent under the Credit Agreement

			
	 5.
	  	 Credit Agreement:
	 	 The Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022, among the Borrowers, the Paying Agent,
Bank of America, N.A. and KeyBank National Association, as Co-Administrative Agents, each lender from time to time party thereto, and KeyBank National Association, as L/C Issuer and Swing Line Lender.

  
  

1 Select as applicable. 

	6.	 Assigned Interest: 

 

							
	
Facility
 Assigned
	 	
Aggregate
 Amount of

    Commitment/Loans    

for all Lenders
	 	 Amount of

    Commitment/Loans    

Assigned
	 	
Percentage
 Assigned of

Commitment/Loans2        

	 	 	$                   
                             	 	$                        
                        	 	                
                     %
	 	 	$                   
                             	 	$                        
                        	 	                
                     %
	 	 	$                        
                        	 	$                             
                   	 	                     
                %

  

	[7.	 Trade
Date:                                        
         ]3 

Effective Date: ______________, 20_ [TO BE INSERTED BY THE PAYING AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN
THE REGISTER THEREFOR.] 
 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	 ASSIGNOR

	 [NAME OF ASSIGNOR]

		
	 By:
	 	
                       
                                         
    

		 	  Title:

	
	 ASSIGNEE

	 [NAME OF ASSIGNEE]

		
	 By:
	 	
                       
                                         
    

		 	  Title:

 [Consented to and]4 Accepted: 

 

			
	 KEYBANK NATIONAL ASSOCIATION,

as Paying Agent

		
	 By:
	 	
                       
                                 

		 	  Title:

	
	 [Consented to:]5 

		
	 By:
	 	
                       
                                 

		 	  Title:

  
  
  

 
  

2 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all
Lenders thereunder. 
 3 To be completed if the Assignor and the Assignee intend that
the minimum assignment amount is to be determined as of the Trade Date. 
 4 To be added
only if the consent of the Paying Agent is required by the terms of the Credit Agreement. 

5 To be added only if the consent of Timken and/or other parties (e.g. Swing Line Lender,
L/C Issuer) is required by the terms of the Credit Agreement. 

 ANNEX I TO ASSIGNMENT AND ASSUMPT1ON 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 

1.          Representations and Warranties. 

1.1      Assignor. The Assignor (a) represents and warrants that (i) it is the
legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties or
representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents, (iii) the financial condition
of Timken, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by Timken, any of its Subsidiaries or Affiliates or any other Person of any of their respective
obligations under any Loan Document. 
 1.2.  Assignee. The Assignee (a) represents and warrants that
(i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement,
(ii) it meets the requirements to be an assignee under Section 11.07(b)(v) of the Credit Agreement (subject to such consents, if any, as may be required under Section 11.07(b)(iii) of the Credit Agreement), (iii) from and after the
Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to
decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has
received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 7.01 thereof, as applicable, and such other documents and
information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest, (vi) it has, independently and without reliance upon any Agent or any other
Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest, and (vii) if it is a Foreign Lender6, attached hereto is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it
will, independently and without reliance on any Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action
under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

2.        Payments. From and after the Effective Date, the Paying Agent shall
make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignee whether such amounts have accrued prior to or on or after the Effective Date. The Assignor and the Assignee
shall make all appropriate adjustments in payments by the Paying Agent for periods prior to the Effective Date or with respect to the making of this assignment directly between themselves. 

 
  

6 Language is consistent with LSTA. 

 3.        General Provisions.
This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and
Assumption shall be governed by, and construed in accordance with, the law of the State of New York. 

 EXHIBIT F 

FORM OF JOINDER AGREEMENT 

THIS JOINDER AGREEMENT (the “Agreement”) dated as of __________, 20___ is by and among __________, a
__________ (the “New Subsidiary”), and KeyBank National Association and Bank of America, N.A., as Co-Administrative Agents under that certain Fifth Amended and Restated Credit Agreement (as
amended, modified, supplemented and extended from time to time, the “Credit Agreement”) dated as of December 5, 2022 among The Timken Company, an Ohio corporation (“Timken”), any Subsidiary of Timken that
becomes party thereto pursuant to Section 2.17 of the Credit Agreement (each such Subsidiary, a “Designated Borrower” and, together with Timken, the “Borrowers” and each a
“Borrower”), the Co-Administrative Agents, KeyBank National Association, as Paying Agent, each lender from time to time party thereto (collectively, the “Lenders” and
individually, a “Lender”) and KeyBank National Association, as L/C Issuer and Swing Line Lender. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement.

 The Loan Parties are required by Section 7.12 of the Credit Agreement to cause the New
Subsidiary to become a “Guarantor” under the Subsidiary Guaranty Agreement. Accordingly, the New Subsidiary hereby agrees as follows with the Co-Administrative Agents, for the benefit of the Lenders:

 1.     The New Subsidiary hereby acknowledges, agrees and confirms that, by its execution of
this Agreement, the New Subsidiary will be deemed to be a party to the Subsidiary Guaranty Agreement and a “Guarantor” for all purposes of the Subsidiary Guaranty Agreement, and shall have all of the obligations of a Guarantor thereunder
as if it had executed the Subsidiary Guaranty Agreement. The New Subsidiary hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions applicable to the Guarantors contained in the Subsidiary
Guaranty Agreement. Without limiting the generality of the foregoing terms of this paragraph 1, the New Subsidiary hereby jointly and severally together with the other Guarantors under the Subsidiary Guaranty Agreement, guarantees to each Lender and
the Co-Administrative Agents, as provided in the Subsidiary Guaranty Agreement, the prompt payment and performance of the Obligations in full when due (whether at stated maturity, as a mandatory prepayment, by
acceleration or otherwise) strictly in accordance with the terms thereof. 

2.        The Subsidiary hereby represents and warrants to the Agent that, as of the
date hereof: 
 (a)        The New Subsidiary’s exact legal
name and state of formation are as set forth on the signature pages hereto. 

(b)        Schedule 1 hereto includes all Subsidiaries of the
New Subsidiary, including the number of shares of outstanding Equity Interests and the percentage of such Equity Interests owned by the New Subsidiary. 

3.     The address of the New Subsidiary for purposes of all notices and other communications is the
address designated for all Loan Parties on Schedule 11.02 to the Credit Agreement or such other address as the New Subsidiary may from time to time notify the Co-Administrative Agents in writing. 

4.     THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS
OF THE STATE OF NEW YORK. 

 Schedule 1 

Subsidiaries 

 IN WITNESS WHEREOF, the New Subsidiary has caused this Joinder Agreement to
be duly executed by its authorized officer, and each Co-Administrative Agent, for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above
written. 
  

	
	 [NEW SUBSIDIARY],

a[n] [__________] [__________]

	
	
By:                      
                                         
 

	 Name:

	 Title:

 Acknowledged and accepted: 
  

	
	KEYBANK NATIONAL ASSOCIATION,
as Co-Administrative Agent
	
	
By:                      
                                         
     

	 Name:

	 Title:

  

	
	BANK OF AMERICA, N.A., as Co-Administrative Agent
	
	By:                                     
                               
	Name:
	Title:

 EXHIBIT G 

FORM OF SUBSIDIARY GUARANTY AGREEMENT 

THIS SUBSIDIARY GUARANTY AGREEMENT (this “Guaranty”) dated as of [________ __, 20__] is given by the Material
Subsidiaries of The Timken Company, an Ohio corporation (“Timken”), from time to time party hereto (each a “Guarantor” and collectively, the “Guarantors”), in favor of BANK OF AMERICA, N.A. and
KEYBANK NATIONAL ASSOCIATION, in their capacities as co-administrative agents under the Credit Agreement (as defined below) (in such capacities, the
“Co-Administrative Agents”), the Lenders and the holders of the Obligations. 
 W I
T N E S S E T H 
 WHEREAS, pursuant to that certain Fifth Amended and Restated Credit Agreement, dated as of
December 5, 2022 (as amended, amended and restated, modified, supplemented, increased, extended, restated, renewed, refinanced or replaced from time to time, the “Credit Agreement”) among Timken, any Subsidiary of Timken that
becomes party thereto pursuant to Section 2.17 of the Credit Agreement (each such Subsidiary, a “Designated Borrower” and, together with Timken, the “Borrowers” and each a
“Borrower”), the Lenders identified therein and the Co-Administrative Agents, the Lenders have agreed to make Loans and issue Letters of Credit upon the terms and subject to the conditions set
forth therein; and 
 WHEREAS, this Guaranty is required pursuant to Section 7.12 of the Credit Agreement. 

NOW, THEREFORE, in consideration of these premises and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows: 

1.        Definitions. Capitalized terms used herein but not otherwise defined
herein shall have the meanings provided to such terms in the Credit Agreement. 

2.        Guaranty. Each of the Guarantors hereby jointly and severally
guarantees to each Lender, each Swap Bank, each Treasury Management Bank, and the Co-Administrative Agents as hereinafter provided, the prompt payment of the Obligations in full when due (whether at stated
maturity, as a mandatory prepayment, by acceleration, as a mandatory cash collateralization or otherwise) strictly in accordance with the terms thereof. The Guarantors hereby further agree that if any of the Obligations are not paid in full when due
(whether at stated maturity, as a mandatory prepayment, by acceleration, as a mandatory cash collateralization or otherwise), the Guarantors will, jointly and severally, promptly pay the same, without any demand or notice whatsoever, and that in the
case of any extension of time of payment or renewal of any of the Obligations, the same will be promptly paid in full when due (whether at extended maturity, as a mandatory prepayment, by acceleration, as a mandatory cash collateralization or
otherwise) in accordance with the terms of such extension or renewal. 
 Notwithstanding any provision to the contrary
contained herein or in any other of the Loan Documents, Swap Contracts or Treasury Management Agreements, the obligations of each Guarantor under this Guaranty and the other Loan Documents shall be limited to an aggregate amount equal to the largest
amount that would not render such obligations subject to avoidance under the Debtor Relief Laws or any comparable provisions of any applicable state law. 

3.        Obligations Unconditional. The obligations of the Guarantors under
this Guaranty are 

 
joint and several, absolute and unconditional, irrespective of the value, genuineness, validity, regularity or enforceability of any of the Loan Documents, Swap Contracts or Treasury Management
Agreements or any other agreement or instrument referred to therein, or any substitution, release, impairment or exchange of any other guarantee of or security for any of the Obligations, and, to the fullest extent permitted by applicable Law,
irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Section 3 that the obligations of the
Guarantors hereunder shall be absolute and unconditional under any and all circumstances. Each Guarantor agrees that such Guarantor shall have no right of subrogation, indemnity, reimbursement or contribution against the Borrowers or any other
Guarantor for amounts paid under this Guaranty until such time as the Obligations have been Fully Satisfied. Without limiting the generality of the foregoing, it is agreed that, to the fullest extent permitted by law, the occurrence of any one or
more of the following shall not alter or impair the liability of any Guarantor hereunder which shall remain absolute and unconditional as described above: 

(a)        at any time or from time to time, without notice to any
Guarantor, the time for any performance of or compliance with any of the Obligations shall be extended, or such performance or compliance shall be waived; 

(b)        any of the acts mentioned in any of the provisions of any
of the Loan Documents, any Swap Contract between any Loan Party and any Swap Bank, or any Treasury Management Agreement between any Loan Party and any Treasury Management Bank, or any other agreement or instrument referred to in the Loan Documents,
such Swap Contracts or such Treasury Management Agreements shall be done or omitted; 

(c)    the maturity of any of the Obligations shall be accelerated, or any of the
Obligations shall be modified, supplemented or amended in any respect, or any right under any of the Loan Documents, any Swap Contract between any Loan Party and any Swap Bank or any Treasury Management Agreement between any Loan Party and any
Treasury Management Bank, or any other agreement or instrument referred to in the Loan Documents, such Swap Contracts or such Treasury Management Agreements shall be waived or any other guarantee of any of the Obligations or any security therefor
shall be released, impaired or exchanged in whole or in part or otherwise dealt with; 

(d)        any Lien granted to, or in favor of, the Co-Administrative Agents or any Lender or Lenders as security for any of the Obligations shall fail to attach or be perfected; or 

(e)        any of the Obligations shall be determined to be void or
voidable (including, without limitation, for the benefit of any creditor of any Guarantor) or shall be subordinated to the claims of any Person (including, without limitation, any creditor of any Guarantor). 

With respect to its obligations hereunder, each Guarantor hereby expressly waives diligence, presentment, demand of payment,
protest and all notices whatsoever, and any requirement that the Co-Administrative Agents or any Lender exhaust any right, power or remedy or proceed against any Person under any of the Loan Documents, any
Swap Contract between any Loan Party and any Swap Bank or any Treasury Management Agreement between any Loan Party and any Treasury Management Bank, or any other agreement or instrument referred to in the Loan Documents, such Swap Contracts or such
Treasury Management Agreements, or against any other Person under any other guarantee of, or security for, any of the Obligations. 

  
 2 

 4.        Reinstatement. The
obligations of the Guarantors under this Guaranty shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of any Person in respect of the Obligations is rescinded or must be otherwise restored by any
holder of any of the Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise, and each Guarantor agrees that it will indemnify the Co-Administrative Agents and each
Lender on demand for all reasonable costs and expenses (including, without limitation, reasonable fees and expenses of counsel) incurred by the Co-Administrative Agents or such Lender in connection with such
rescission or restoration, including any such reasonable costs and expenses incurred in defending against any claim alleging that such payment constituted a preference, fraudulent transfer or similar payment under any bankruptcy, insolvency or
similar law. 
 5.        Certain Additional Waivers. Each Guarantor agrees
that such Guarantor shall have no right of recourse to security for the Obligations, except through the exercise of rights of subrogation pursuant to Section 3 and through the exercise of rights of contribution pursuant to
Section 7. 
 6.        Remedies. The Guarantors
agree that, to the fullest extent permitted by law, as between the Guarantors, on the one hand, and the Co-Administrative Agents and the Lenders, on the other hand, the Obligations may be declared to be
forthwith due and payable as provided in Section 9.02 of the Credit Agreement (and shall be deemed to have become automatically due and payable in the circumstances provided in said Section 9.02 of the Credit Agreement) for purposes of
Section 2 notwithstanding any stay, injunction or other prohibition preventing such declaration (or preventing the Obligations from becoming automatically due and payable) as against any other Person and that, in the event
of such declaration (or the Obligations being deemed to have become automatically due and payable), the Obligations (whether or not due and payable by any other Person) shall forthwith become due and payable by the Guarantors for purposes of
Section 2. 
 7.        Rights of Contribution. The
Guarantors hereby agree as among themselves that, in connection with payments made hereunder, each Guarantor shall have a right of contribution from each other Guarantor in accordance with applicable Law. Such contribution rights shall be
subordinate and subject in right of payment to the Obligations until such time as the Obligations have been Fully Satisfied, and none of the Guarantors shall exercise any such contribution rights until the Obligations have been Fully Satisfied. 

8.        Guaranty of Payment: Continuing Guaranty. The guarantee in this
Guaranty is a guaranty of payment and not of collection, is a continuing guarantee, and shall apply to the Obligations whenever arising. 

9.        Keepwell. Each Loan Party that is a Qualified ECP Guarantor (as
defined below) at the time this Guaranty becomes effective with respect to any Swap Obligation, hereby jointly and severally, absolutely, unconditionally and irrevocably undertakes to provide such funds or other support to any Loan Party that is not
then an “eligible contract participant” under the Commodity Exchange Act (each such Loan Party, a “Specified Loan Party”) with respect to such Swap Obligation as may be needed by such Specified Loan Party from time to time to
honor all of its obligations under this Guaranty in respect of such Swap Obligation (but, in each case, only up to the maximum amount of such liability that can be hereby incurred without rendering such Qualified ECP Guarantor’s obligations and
undertakings under this Guaranty voidable under applicable Debtor Relief Laws, and not for any greater amount). The obligations and undertakings of each Qualified ECP Guarantor under this Section 9 shall remain in full
force and effect until the Obligations (other than contingent obligations for which no claim has been asserted) have been paid in full. Each Loan Party intends this Section 9 to constitute, and this
Section 9 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each Specified 

  
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Loan Party for all purposes of the Commodity Exchange Act. 
 For the
purposes of this Guaranty, “Qualified ECP Guarantor” means at any time each Loan Party with total assets exceeding $10,000,000 or that qualifies at such time as an “eligible contract participant” under the Commodity
Exchange Act and can cause another Person to qualify as an “eligible contract participant” at such time under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

10.     Costs and Expenses. The terms of Section 11.04 of the Credit Agreement with
respect to costs and expenses are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms. The obligations of the Guarantors under the preceding sentence shall survive termination of this
Guaranty. 
 11.          Representations and Warrantees. Each
Guarantor hereby represents and warrants to the Co-Administrative Agent and the Lenders that each of the representations and warranties set forth in Article VI (other than Sections 6.05(c), 6.06 and
6.09) of the Credit Agreement that are applicable to such Guarantor are true and correct in all material respects (or, if such representation or warranty is qualified by materiality or material adverse effect, it shall be true and correct in all
respects as drafted) as of the date hereof and as of the date of each Credit Extension under the Credit Agreement. 

12.        Covenants. So long as (i) any Lender shall have any Commitment
under the Credit Agreement, (ii) any Loan or other Obligation under the Credit Agreement shall remain unpaid or unsatisfied, or (iii) any Letter of Credit shall remain outstanding, each Guarantor hereby agrees that it shall comply with the
agreements and covenants set forth in the Credit Agreement (including Articles VII and VIII of the Credit Agreement) that are applicable to such Guarantor. 

13.        Term of Guaranty. This Guaranty shall continue in full force and
effect until the Obligations are paid in full (other than contingent indemnification obligations). This Guaranty covers the Obligations whether presently outstanding or arising subsequent to the date hereof including all amounts advanced by the
Lenders in stages or installments. 
 14.        Further Agreements. The
Guarantors agree that neither any of the Co-Administrative Agents nor any other holder of the Obligations will have any obligation to investigate the financial condition or affairs of the Borrowers for the
benefit of the Guarantors nor to advise the Guarantors of any fact respecting, or any change in, the financial condition or affairs of the Borrowers which might come to the knowledge of the Co-Administrative
Agents or any holder of the Obligations at any time, whether or not such Co-Administrative Agent or such holder of the Obligations knows or believes or has reason to know or believe that any such fact or
change is unknown to the Guarantors or might (or does) materially increase the risk of such Guarantor as Guarantor or might (or would) affect the willingness of such Guarantor to continue as the guarantor with respect to the Obligations. 

15.        Additional Liability of Guarantors. If any Guarantor is or becomes
liable for any indebtedness owing by the Borrowers to the Co-Administrative Agents or any holder of the Obligations by endorsement or otherwise other than under this Guaranty, such liability shall not be in
any manner impaired or reduced hereby but shall have all and the same force and effect it would have had if this Guaranty had not existed and such Guarantor’s liability hereunder shall not be in any manner impaired or reduced thereby. 

16.        Cumulative Rights. All rights of the
Co-Administrative Agents and the holders of the Obligations hereunder are separate and cumulative and may be pursued separately, successively or concurrently, or not pursued, without affecting or limiting any
other right of the Co-Administrative 

  
 4 

 
Agents and without affecting or impairing the liability of the Guarantors. 

17.        Successors and Assigns. This Guaranty shall be binding on and
enforceable against the Guarantors and its successors and assigns; provided that the Guarantors may not assign or transfer any of its obligations hereunder except to the extent permitted by the Credit Agreement. This Guaranty is intended for
and shall inure to the benefit of the Co-Administrative Agents and each holder of the Obligations, and each and every reference herein to “Co-Administrative
Agent” shall include and refer to each and every successor or permitted assignee of the Co-Administrative Agents at any time holding or owning any part of or interest in any part of the Obligations. Each
Guarantor expressly waives notice of transfer or assignment of all or any part of the Obligations or of the rights of the Co-Administrative Agents hereunder. 

18.        Application of Payments. Payments received pursuant to this Guaranty
shall be applied to the Obligations in the order set forth in Section 9.03 of the Credit Agreement. 
 19.
    Modifications.   Subject to Section 11.01 of the Credit Agreement, this Guaranty and the provisions hereof may be amended, modified, waived, discharged or terminated only by an instrument in writing
signed by the Guarantors and the Co-Administrative Agents. 

20.       Notices. All notices required or permitted to be given under this Guaranty
shall be in conformance with Section 11.02 of the Credit Agreement. 

21.        Governing Law; Submission to Jurisdiction; Venue; Waiver of Trial by
Jury. 
 (a)        THIS GUARANTY AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE
OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS GUARANTY AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(b)        EACH GUARANTOR IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT
COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST ANY CO-ADMINISTRATIVE AGENT, ANY LENDER, THE L/C ISSUER,
OR ANY RELATED PARTY OF THE FOREGOING IN ANY WAY RELATING TO THIS GUARANTY OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT
OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION,
LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR
PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS GUARANTY OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT ANY CO-ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS GUARANTY AGAINST ANY GUARANTOR OR ANY 

  
 5 

 
OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c)        EACH GUARANTOR, EACH AGENT AND EACH LENDER IRREVOCABLY AND
UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY IN ANY COURT REFERRED TO IN
PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(d)        EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER
PROVIDED FOR NOTICES IN SECTION 11.02 OF THE CREDIT AGREEMENT. NOTHING IN THIS GUARANTY WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

(e)        EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS GUARANTY OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR
ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS GUARANTY BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

22.        Severability. If any provision of this Guaranty is determined to be
illegal, invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable provisions. 

23.        Electronic Execution and Counterparts. This Guaranty may, if agreed
by the Co-Administrative Agents, be in the form of an Electronic Record and may be executed using Electronic Signatures (including facsimile and .pdf) and shall be considered an original, and shall have the
same legal effect, validity and enforceability as a paper record. This Guaranty may be executed in as many counterparts as necessary or convenient, including both paper and electronic counterparts, but all such counterparts are one and the same
Guaranty. For the avoidance of doubt, the authorization under this paragraph may include use or acceptance by the Co-Administrative Agents of a manually signed paper Communication which has been converted into
electronic form (such as scanned into PDF format), or an electronically signed Communication converted into another format, for transmission, delivery and/or retention. 

24.        Acknowledgement Regarding Any Supported QFCs. The provisions and
acknowledgements contained in Section 11.24 of the Credit Agreement are hereby incorporated into this Guaranty, mutatis mutandis. 

  
 6 

 [Signature Pages Follow] 

  
 7 

 IN WITNESS WHEREOF, each Guarantor has caused this Guaranty to be duly
executed and delivered as of the day and year first above written. 
  

	
	 GUARANTORS:

	
	 [______________]

	 [______________]

	
	 By:_________________________

	 Name:

	 Title:

	
	 [______________]

	 [______________]

	
	 By:_________________________

	 Name:

	 Title:

	
	 [______________]

	 [______________]

	
	 By:_________________________

	 Name:

	 Title:

	
	 Accepted and Agreed:

	
	 CO-ADMINISTRATIVE AGENTS:

	
	KEYBANK NATIONAL ASSOCIATION,
as Co-Administrative Agent
	
	 By:_________________________

	 Name:

	 Title:

	
	 BANK OF AMERICA, N.A.,
 as Co-Administrative Agent

	
	 By:_________________________

	 Name:

	 Title:

 EXHIBIT H 

FORM OF TIMKEN GUARANTY AGREEMENT 

THIS GUARANTY AGREEMENT (this “Guaranty”) dated as of [________ __, 20__] is given by The Timken Company, an Ohio corporation
(the “Guarantor”), in favor of BANK OF AMERICA, N.A. and KEYBANK NATIONAL ASSOCIATION, in their capacities as co-administrative agents under the Credit Agreement (as defined below) (in such
capacities, the “Co-Administrative Agents”), the Lenders and the holders of the Designated Borrower Obligations. 

W I T N E S S E T H 

WHEREAS, pursuant to that certain Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended,
amended and restated, modified, supplemented, increased, extended, restated, renewed, refinanced or replaced from time to time, the “Credit Agreement”) among the Guarantor, any Subsidiary of Timken that becomes party thereto
pursuant to Section 2.17 of the Credit Agreement (each such Subsidiary, a “Designated Borrower”), the Lenders identified therein and the Co-Administrative Agents, the Lenders have agreed
to make Loans and issue Letters of Credit upon the terms and subject to the conditions set forth therein; and 
 WHEREAS,
this Guaranty is required pursuant to Section 2.17 of the Credit Agreement, whereby the Guarantor shall guarantee the payment when due of all Designated Borrower Obligations; and 

NOW, THEREFORE, in consideration of these premises and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows: 

1.        Definitions. Capitalized terms used herein but not otherwise defined
herein shall have the meanings provided to such terms in the Credit Agreement. 

2.       Guaranty.  The Guarantor hereby guarantees to each Lender, each Swap
Bank, each Treasury Management Bank, and the Co-Administrative Agents as hereinafter provided, the prompt payment of the Designated Borrower Obligations in full when due (whether at stated maturity, as a
mandatory prepayment, by acceleration, as a mandatory cash collateralization or otherwise) strictly in accordance with the terms thereof. The Guarantor hereby further agrees that if any of the Designated Borrower Obligations are not paid in full
when due (whether at stated maturity, as a mandatory prepayment, by acceleration, as a mandatory cash collateralization or otherwise), the Guarantor will promptly pay the same, without any demand or notice whatsoever, and that in the case of any
extension of time of payment or renewal of any of the Designated Borrower Obligations, the same will be promptly paid in full when due (whether at extended maturity, as a mandatory prepayment, by acceleration, as a mandatory cash collateralization
or otherwise) in accordance with the terms of such extension or renewal. 
 Notwithstanding any provision to the contrary
contained herein or in any other of the Loan Documents, Swap Contracts or Treasury Management Agreements, the obligations of the Guarantor under this Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render
such obligations subject to avoidance under the Debtor Relief Laws or any comparable provisions of any applicable state law. 

3.     Obligations Unconditional.  The obligations of the Guarantor under this Guaranty are
absolute and unconditional, irrespective of the value, genuineness, validity, regularity or enforceability of 

 
any of the Loan Documents, Swap Contracts or Treasury Management Agreements or any other agreement or instrument referred to therein, or any substitution, release, impairment or exchange of any
other guarantee of or security for any of the Designated Borrower Obligations, and, to the fullest extent permitted by applicable Law, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge
or defense of a surety or guarantor, it being the intent of this Section 3 that the obligations of the Guarantor hereunder shall be absolute and unconditional under any and all circumstances. The Guarantor agrees that it
shall have no right of subrogation, indemnity, reimbursement or contribution against any Designated Borrower or any other Loan Party for amounts paid under this Guaranty until such time as the Designated Borrower Obligations have been Fully
Satisfied. Without limiting the generality of the foregoing, it is agreed that, to the fullest extent permitted by law, the occurrence of any one or more of the following shall not alter or impair the liability of the Guarantor hereunder which shall
remain absolute and unconditional as described above: 
 (a)     at any time or from
time to time, without notice to the Guarantor, the time for any performance of or compliance with any of the Designated Borrower Obligations shall be extended, or such performance or compliance shall be waived; 

(b)     any of the acts mentioned in any of the provisions of any of the Loan Documents,
any Swap Contract between any Loan Party and any Swap Bank, or any Treasury Management Agreement between any Loan Party and any Treasury Management Bank, or any other agreement or instrument referred to in the Loan Documents, such Swap Contracts or
such Treasury Management Agreements shall be done or omitted; 
 (c)     the maturity of
any of the Designated Borrower Obligations shall be accelerated, or any of the Designated Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under any of the Loan Documents, any Swap Contract between any
Loan Party and any Swap Bank or any Treasury Management Agreement between any Loan Party and any Treasury Management Bank, or any other agreement or instrument referred to in the Loan Documents, such Swap Contracts or such Treasury Management
Agreements shall be waived or any other guarantee of any of the Designated Borrower Obligations or any security therefor shall be released, impaired or exchanged in whole or in part or otherwise dealt with; 

(d)     any Lien granted to, or in favor of, the
Co-Administrative Agents or any Lender or Lenders as security for any of the Designated Borrower Obligations shall fail to attach or be perfected; or 

(e)     any of the Designated Borrower Obligations shall be determined to be void or
voidable (including, without limitation, for the benefit of any creditor of the Guarantor) or shall be subordinated to the claims of any Person (including, without limitation, any creditor of the Guarantor). 

With respect to its obligations hereunder, the Guarantor hereby expressly waives diligence, presentment, demand of payment,
protest and all notices whatsoever, and any requirement that the Co-Administrative Agents or any Lender exhaust any right, power or remedy or proceed against any Person under any of the Loan Documents, any
Swap Contract between any Loan Party and any Swap Bank or any Treasury Management Agreement between any Loan Party and any Treasury Management Bank, or any other agreement or instrument referred to in the Loan Documents, such Swap Contracts or such
Treasury Management Agreements, or against any other Person under any other guarantee of, or security for, any of the Designated Borrower Obligations. 

  
 2 

 4.        Reinstatement. The
obligations of the Guarantor under this Guaranty shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of any Person in respect of the Designated Borrower Obligations is rescinded or must be otherwise
restored by any holder of any of the Designated Borrower Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise, and the Guarantor agrees that it will indemnify the
Co-Administrative Agents and each Lender on demand for all reasonable costs and expenses (including, without limitation, reasonable fees and expenses of counsel) incurred by the
Co-Administrative Agents or such Lender in connection with such rescission or restoration, including any such reasonable costs and expenses incurred in defending against any claim alleging that such payment
constituted a preference, fraudulent transfer or similar payment under any bankruptcy, insolvency or similar law. 

5.        Certain Additional Waivers. The Guarantor agrees that it shall have
no right of recourse to security for the Designated Borrower Obligations, except through the exercise of rights of subrogation pursuant to Section 3. 

6.        Remedies. The Guarantor agrees that, to the fullest extent permitted
by law, as between the Guarantor, on the one hand, and the Co-Administrative Agents and the Lenders, on the other hand, the Designated Borrower Obligations may be declared to be forthwith due and payable as
provided in Section 9.02 of the Credit Agreement (and shall be deemed to have become automatically due and payable in the circumstances provided in said Section 9.02 of the Credit Agreement) for purposes of
Section 2 notwithstanding any stay, injunction or other prohibition preventing such declaration (or preventing the Designated Borrower Obligations from becoming automatically due and payable) as against any other Person and
that, in the event of such declaration (or the Designated Borrower Obligations being deemed to have become automatically due and payable), the Designated Borrower Obligations (whether or not due and payable by any other Person) shall forthwith
become due and payable by the Guarantor for purposes of Section 2. 

7.        Guaranty of Payment: Continuing Guaranty. The guarantee in this
Guaranty is a guaranty of payment and not of collection, is a continuing guarantee, and shall apply to the Designated Borrower Obligations whenever arising. 

8.        Costs and Expenses. The terms of Section 11.04 of the Credit
Agreement with respect to costs and expenses are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms. The obligations of the Guarantor under the preceding sentence shall survive termination of
this Guaranty. 
 9.        Covenants. So long as any Lender shall have any
Commitment under the Credit Agreement or any Designated Borrower Obligations shall remain unpaid or unsatisfied, the Guarantor hereby agrees that it shall comply with the agreements and covenants set forth in the Credit Agreement (including
Articles VII and VIII of the Credit Agreement) that are applicable to the Guarantor. 

10.        Term of Guaranty. This Guaranty shall continue in full force and
effect until the Designated Borrower Obligations are paid in full (other than contingent indemnification obligations). This Guaranty covers the Designated Borrower Obligations whether presently outstanding or arising subsequent to the date hereof
including all amounts advanced by the Lenders in stages or installments. 

11.        Further Agreements. The Guarantor agrees that neither any of the Co-Administrative Agents nor any other holder of the Designated Borrower Obligations will have any obligation to investigate the financial condition or affairs of any Designated Borrower for the benefit of the
Guarantor nor to advise the Guarantor of any fact respecting, or any change in, the financial condition or affairs of 

  
 3 

 
any Designated Borrower which might come to the knowledge of the Co-Administrative Agents or any holder of the Designated Borrower Obligations at any time,
whether or not such Co-Administrative Agent or such holder of the Designated Borrower Obligations knows or believes or has reason to know or believe that any such fact or change is unknown to the Guarantor or
might (or does) materially increase the risk of the Guarantor as Guarantor or might (or would) affect the willingness of the Guarantor to continue as the guarantor with respect to the Designated Borrower Obligations. 

12.        Additional Liability of Guarantor. If the Guarantor is or becomes
liable for any indebtedness owing by any Designated Borrower to the Co-Administrative Agents or any holder of the Designated Borrower Obligations by endorsement or otherwise other than under this Guaranty,
such liability shall not be in any manner impaired or reduced hereby but shall have all and the same force and effect it would have had if this Guaranty had not existed and the Guarantor’s liability hereunder shall not be in any manner impaired
or reduced thereby. 
 13.        Cumulative Rights. All rights of the Co-Administrative Agents and the holders of the Designated Borrower Obligations hereunder are separate and cumulative and may be pursued separately, successively or concurrently, or not pursued, without affecting or
limiting any other right of the Co-Administrative Agents and without affecting or impairing the liability of the Guarantor. 

14.        Successors and Assigns. This Guaranty shall be binding on and
enforceable against the Guarantor and its successors and assigns; provided that the Guarantor may not assign or transfer any of its obligations hereunder except to the extent permitted by the Credit Agreement. This Guaranty is intended for
and shall inure to the benefit of the Co-Administrative Agents and each holder of the Designated Borrower Obligations, and each and every reference herein to
“Co-Administrative Agent” shall include and refer to each and every successor or permitted assignee of the Co-Administrative Agents at any time holding or
owning any part of or interest in any part of the Designated Borrower Obligations. The Guarantor expressly waives notice of transfer or assignment of all or any part of the Designated Borrower Obligations or of the rights of the Co-Administrative Agents hereunder. 

15.        Application of Payments. Payments received pursuant to this Guaranty
shall be applied to the Designated Borrower Obligations in the order set forth in Section 9.03 of the Credit Agreement. 

16.        Modifications. Subject to Section 11.01 of the Credit
Agreement, this Guaranty and the provisions hereof may be amended, modified, waived, discharged or terminated only by an instrument in writing signed by the Guarantor and the Co-Administrative Agents. 

17.        Notices. All notices required or permitted to be given under this
Guaranty shall be in conformance with Section 11.02 of the Credit Agreement. 

18.        Governing Law; Submission to Jurisdiction; Venue; Waiver of Trial by
Jury. 
 (a)   THIS GUARANTY AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR
TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS GUARANTY AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(b)   THE GUARANTOR IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR
PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR 

  
 4 

 
OTHERWISE, AGAINST ANY CO-ADMINISTRATIVE AGENT, ANY LENDER, THE L/C ISSUER, OR ANY RELATED PARTY OF THE FOREGOING IN ANY WAY RELATING TO THIS GUARANTY OR
THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY
THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE
COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS
BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS GUARANTY OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT ANY CO-ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY
OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS GUARANTY AGAINST THE GUARANTOR OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c)   THE GUARANTOR, EACH AGENT AND EACH LENDER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE
PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(d)   EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN
SECTION 11.02 OF THE CREDIT AGREEMENT. NOTHING IN THIS GUARANTY WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

(e)   EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT
MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS GUARANTY OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS GUARANTY BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

19.        Severability. If any provision of this Guaranty is determined to be
illegal, invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable provisions. 

  
 5 

 20.        Electronic Execution
and Counterparts. This Guaranty may, if agreed by the Co-Administrative Agents, be in the form of an Electronic Record and may be executed using Electronic Signatures (including facsimile and .pdf) and
shall be considered an original, and shall have the same legal effect, validity and enforceability as a paper record. This Guaranty may be executed in as many counterparts as necessary or convenient, including both paper and electronic counterparts,
but all such counterparts are one and the same Guaranty. For the avoidance of doubt, the authorization under this paragraph may include use or acceptance by the Co-Administrative Agents of a manually signed
paper Communication which has been converted into electronic form (such as scanned into PDF format), or an electronically signed Communication converted into another format, for transmission, delivery and/or retention. 

21.        Acknowledgement Regarding Any Supported QFCs. The provisions and
acknowledgements contained in Section 11.24 of the Credit Agreement are hereby incorporated into this Guaranty, mutatis mutandis. 

[Signature Pages Follow] 

  
 6 

 IN WITNESS WHEREOF, the Guarantor has caused this Guaranty to be duly
executed and delivered as of the day and year first above written. 
  

			
	 GUARANTOR:

	
	 THE TIMKEN COMPANY,

an Ohio corporation

		
	 By:
	 	  

	 Name:

	 Title:

			
	Accepted and Agreed:
	
	CO-ADMINISTRATIVE AGENTS:
	
	 KEYBANK NATIONAL ASSOCIATION,

as Co-Administrative Agent

		
	By:	 	  

	Name:
	Title:
	
	 BANK OF AMERICA, N.A.,
 as Co-Administrative Agent

		
	By:	 	  

	Name:
	Title:

 EXHIBIT I 

FORM OF DESIGNATED BORROWER 

REQUEST AND ASSUMPTION AGREEMENT 

Date: ___________, _____ 
  

	To:	 KeyBank National Association and Bank of America, N.A., as
Co-Administrative Agents 

 Ladies and Gentlemen: 

This Designated Borrower Request and Assumption Agreement is made and delivered pursuant to
Section 2.17 of that certain Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the
“Credit Agreement”; the terms defined therein being used herein as therein defined), among The Timken Company, an Ohio corporation (“Timken”), any Subsidiary of Timken that becomes party thereto pursuant to
Section 2.17 of the Credit Agreement (each such Subsidiary, a “Designated Borrower” and, together with Timken, the “Borrowers” and each a “Borrower”), Bank of America, N.A.
and KeyBank National Association, as Co-Administrative Agents, KeyBank National Association, as Paying Agent, each lender from time to time party thereto (collectively, the “Lenders” and
individually, a “Lender”), and KeyBank National Association, as L/C Issuer and Swing Line Lender, and reference is made thereto for full particulars of the matters described therein. All capitalized terms used in this Designated
Borrower Request and Assumption Agreement and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. 

______________________ (the “Designated Borrower”) and Timken hereby confirms, represents and warrants to the
Co-Administrative Agents and the Lenders that the Designated Borrower is a Subsidiary of the Company. 

The documents required to be delivered to the Co-Administrative Agents under
Section 2.17 of the Credit Agreement will be furnished to the Co-Administrative Agents in accordance with the requirements of the Credit Agreement. 

The true and correct unique identification number that has been issued to the Designated Borrower by its jurisdiction of
organization and the name of such jurisdiction are set forth below: 
  

					
	Identification Number	  	Jurisdiction of Organization	  	                
	 	  	 	  	
	 	  	 	  	

 The parties hereto hereby confirm that with effect from the date of the Designated
Borrower Notice for the Designated Borrower, the Designated Borrower shall have obligations, duties and liabilities toward each of the other parties to the Credit Agreement identical to those which the Designated Borrower would have had if the
Designated Borrower had executed the Credit Agreement as a Designated Borrower. Effective as of the date of the Designated Borrower Notice for the Designated Borrower, the Designated Borrower confirms its acceptance of, and consents to, all
representations and warranties, covenants, and other terms and provisions of the Credit Agreement. 
 The parties hereto
hereby request that the Designated Borrower be entitled to receive Loans under the Credit Agreement, and understand, acknowledge and agree that neither the Designated Borrower nor Timken on its behalf shall have any right to request any Loans for
its account unless and until (i) the Co-Administrative Agents and Lenders agree in writing to the Designated Borrower becoming a Borrower under the Credit Agreement and (ii) the date five Business
Days after the effective date designated by the 

 
Co-Administrative Agents in a Designated Borrower Notice delivered to Timken and the Lenders pursuant to Section 2.17 of the
Credit Agreement. 
 This Designated Borrower Request and Assumption Agreement shall constitute a Loan Document under the
Credit Agreement. 
 THIS DESIGNATED BORROWER REQUEST AND ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 IN WITNESS WHEREOF, the parties hereto have caused this
Designated Borrower Request and Assumption Agreement to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written. 

 

									
		 		 	[DESIGNATED BORROWER]	 	
					
		 		 	By:	 	  
	 	
		 		 	Name:	 	                    
		 		 	Title:	 	
				
		 		 	 THE TIMKEN COMPANY,
 an Ohio
corporation
	 	
					
		 		 	By:	 	  
	 	
		 		 	Name:	 	
		 		 	Title:	 	

 EXHIBIT J 

FORM OF DESIGNATED BORROWER NOTICE 

Date: ___________, _____ 
  

	To:	 The Timken Company 

The Lenders party to the Credit Agreement referred to below 

Ladies and Gentlemen: 

This Designated Borrower Notice is made and delivered pursuant to Section 2.17 of that that certain
Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”; the terms defined therein being
used herein as therein defined), among The Timken Company, an Ohio corporation (“Timken”), any Subsidiary of Timken that becomes party thereto pursuant to Section 2.17 of the Credit Agreement (each such Subsidiary, a
“Designated Borrower” and, together with Timken, the “Borrowers” and each a “Borrower”), Bank of America, N.A. and KeyBank National Association, as
Co-Administrative Agents, KeyBank National Association, as Paying Agent, each lender from time to time party thereto (collectively, the “Lenders” and individually, a
“Lender”), and KeyBank National Association, as L/C Issuer and Swing Line Lender, and reference is made thereto for full particulars of the matters described therein. All capitalized terms used in this Designated Borrower Notice and
not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. 
 The Co-Administrative Agents hereby notify Timken and the Lenders that effective as of the date hereof [_________________________] shall be a Designated Borrower and may receive Loans for its account on the terms
and conditions set forth in the Credit Agreement. 
  

									
		 		 	 KEYBANK NATIONAL ASSOCIATION,
 as Co-Administrative Agent
	 	
					
		 		 	 By:
	 	  
	 	
                    

		 		 	 Name:
	 	
		 		 	 Title:
	 	
				
		 		 	 BANK OF AMERICA, N.A.,
 as Co-Administrative Agent
	 	
					
		 		 	 By:
	 	  
	 	
		 		 	 Name:
	 	
		 		 	 Title:
	 	

 EXHIBIT K 

FORM OF TERM NOTE 

[___________], [____] 

FOR VALUE RECEIVED, the undersigned (the “Borrower”), hereby promises to pay to
[_____________________] or its registered assigns (the “Lender”), in accordance with the provisions of the Credit Agreement (as hereinafter defined), the unpaid principal amount of each Term Loan from time to time made by the
Lender to the Borrower under the Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit
Agreement;” the terms defined therein being used herein as therein defined), among The Timken Company, an Ohio corporation (“Timken”), any Subsidiary of Timken that becomes party thereto pursuant to Section 2.17 of the
Credit Agreement (each such Subsidiary, a “Designated Borrower”), Bank of America, N.A. and KeyBank National Association, as Co-Administrative Agents, KeyBank National Association, as Paying Agent,
each lender from time to time party thereto, and KeyBank National Association, as L/C Issuer and Swing Line Lender. 
 The
Borrower promises to pay interest on the unpaid principal amount of each Term Loan made by the Lender from the date of such Term Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Credit
Agreement. All payments of principal and interest shall be made to the Paying Agent, for the account of the Lender at the Paying Agent’s Office in Dollars and in immediately available funds on the date specified in the Credit Agreement. If any
amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth
in the Credit Agreement. 
 This Term Note is one of the Term Notes referred to in the Credit Agreement and the holder is
entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided therein. This Term Note is also entitled to the benefits of the Subsidiary Guaranty Agreement, if applicable. Upon the occurrence
and continuation of one or more of the Events of Default specified in the Credit Agreement, all amounts then remaining unpaid on this Term Note shall become, or may be declared to be, immediately due and payable all as provided in the Credit
Agreement. Each Term Loan made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to this Term Note and endorse thereon the date,
amount and maturity of its Loans and payments with respect thereto. 
 The Borrower, for itself, its successors and assigns,
hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Term Note. 

THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 
			
	 THE TIMKEN COMPANY,

an Ohio corporation

	
	
By:                      
                                         
                  

	
Name:                      
                                         
              

	
Title:                      
                                         
                

 EXHIBIT L-1 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among The Timken Company, an Ohio corporation
(“Timken”), any Subsidiary of Timken that becomes party thereto pursuant to Section 2.17 of the Agreement (each such Subsidiary, a “Designated Borrower” and, together with Timken, the
“Borrowers” and each a “Borrower”), Bank of America, N.A. and KeyBank National Association, as Co Administrative Agents, KeyBank National Association, as Paying Agent, each lender from time to time party thereto
(collectively, the “Lenders” and individually, a “Lender”), and KeyBank National Association, as L/C Issuer and Swing Line Lender. 

Pursuant to the provisions of Section 3.01 of the Agreement, the undersigned hereby certifies that
(i) it is the sole record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, (iii) it is not a “10 percent shareholder” of the Borrowers within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a “controlled foreign corporation”
related to the Borrowers as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the Paying
Agent and Timken with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS
Form W-8BEN-E. By executing this certificate, the undersigned agrees that (1) if the information provided in this certificate changes, the undersigned shall
promptly so inform Timken and the Paying Agent, and (2) the undersigned shall have at all times furnished Timken and the Paying Agent with a properly completed and currently effective certificate in either the calendar year in which each
payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless
otherwise defined herein, terms defined in the Agreement and used herein shall have the meanings given to them in the Agreement. 
 [NAME OF
LENDER] 
  

			
	
By:                      
                                         
 

	 Name:
	 	
	 Title:
	 	
	
	 Date:                __,
20[  ]

 EXHIBIT L-2 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among The Timken Company, an Ohio corporation
(“Timken”), any Subsidiary of Timken that becomes party thereto pursuant to Section 2.17 of the Agreement (each such Subsidiary, a “Designated Borrower” and, together with Timken, the
“Borrowers” and each a “Borrower”), Bank of America, N.A. and KeyBank National Association, as Co Administrative Agents, KeyBank National Association, as Paying Agent, each lender from time to time party thereto
(collectively, the “Lenders” and individually, a “Lender”), and KeyBank National Association, as L/C Issuer and Swing Line Lender. 

Pursuant to the provisions of Section 3.01 of the Agreement, the undersigned hereby certifies that
(i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a
“10 percent shareholder” of the Borrowers within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a “controlled foreign corporation” related to the Borrowers as described in
Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E. By executing
this certificate, the undersigned agrees that (1) if the information provided in this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such
Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Agreement and used herein shall have the meanings given to them in the
Agreement. 
 [NAME OF PARTICIPANT] 
  

			
	
By:                      
                                         
 

	 Name:
	 	
	 Title:
	 	
	
	 Date:                __,
20[  ]

 EXHIBIT L-3 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among The Timken Company, an Ohio corporation
(“Timken”), any Subsidiary of Timken that becomes party thereto pursuant to Section 2.17 of the Agreement (each such Subsidiary, a “Designated Borrower” and, together with Timken, the
“Borrowers” and each a “Borrower”), Bank of America, N.A. and KeyBank National Association, as Co Administrative Agents, KeyBank National Association, as Paying Agent, each lender from time to time party thereto
(collectively, the “Lenders” and individually, a “Lender”), and KeyBank National Association, as L/C Issuer and Swing Line Lender. 

Pursuant to the provisions of Section 3.01 of the Agreement, the undersigned hereby certifies that
(i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect such
participation, neither the undersigned nor any of its direct or indirect partners/members is a “bank” extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of
Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a “10 percent shareholder” of the Borrowers within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its
direct or indirect partners/members is a “controlled foreign corporation” related to the Borrowers as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with IRS Form W-8IMY
accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the
undersigned agrees that (1) if the information provided in this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and
currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Agreement and used herein shall have the meanings given to them in the
Agreement. 
 [NAME OF PARTICIPANT] 
  

			
	
By:                      
                                         
 

	 Name:
	 	
	 Title:
	 	
	
	 Date:                __,
20[  ]

 EXHIBIT L-4 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Fifth Amended and Restated Credit Agreement, dated as of December 5, 2022 (as amended,
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”; the terms defined therein being used herein as therein defined), among The Timken Company, an Ohio corporation
(“Timken”), any Subsidiary of Timken that becomes party thereto pursuant to Section 2.17 of the Agreement (each such Subsidiary, a “Designated Borrower” and, together with Timken, the
“Borrowers” and each a “Borrower”), Bank of America, N.A. and KeyBank National Association, as Co Administrative Agents, KeyBank National Association, as Paying Agent, each lender from time to time party thereto
(collectively, the “Lenders” and individually, a “Lender”), and KeyBank National Association, as L/C Issuer and Swing Line Lender. 

Pursuant to the provisions of Section 3.01 of the Credit Agreement, the undersigned hereby
certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial
owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect
partners/members is a “bank” extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect
partners/members is a “10 percent shareholder” of the Borrowers within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a “controlled foreign corporation”
related to the Borrowers as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the Paying
Agent and Timken with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E or (ii) an IRS Form W-8IMY accompanied by
an IRS Form W-8BEN or IRS Form W-8BEN-E from each of such partner’s/member’s beneficial owners that is
claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided in this certificate changes, the undersigned shall promptly so inform Timken and the Paying Agent, and
(2) the undersigned shall have at all times furnished Timken and the Paying Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of
the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Agreement and used
herein shall have the meanings given to them in the Agreement. 
 [NAME OF LENDER] 

 

			
	
By:                      
                                         
 

	 Name:
	 	
	 Title:
	 	
	
	 Date:                __,
20[  ]

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