Document:

Form of Deferred Stock Unit Agreement- Non-Employee Directors

 Exhibit 10.35 
 ENERSYS 
 AWARD AGREEMENT FOR NON-EMPLOYEE DIRECTORS

 DEFERRED STOCK UNITS 
 THIS AWARD AGREEMENT FOR NON-EMPLOYEE DIRECTORS – DSUs (this “Award Agreement”) is made as of
                     (the “Grant Date”) between EnerSys, a Delaware corporation (the “Company”), and the individual identified on
the signature page hereof (the “Director”). 
 WHEREAS, the Director is currently a non-employee director of
the Company and, pursuant to the EnerSys 2010 Equity Incentive Plan (the “Plan”) and upon the terms and subject to the conditions hereinafter set forth, the Company desires to provide the Participant with an incentive to increase the
Director’s interest in the success of the Company through the granting to the Director of deferred stock units (“DSUs”). 
 1. Grant of Deferred Stock Units. Subject to the provisions of this Award Agreement and pursuant to the provisions of the Plan, the Company hereby grants to the Director the number of DSUs
specified on the signature page hereof. 
 2. Terms Subject to the Plan. This Award Agreement is subject to, and
governed by, the provisions of the Plan and unless the context requires otherwise, terms used herein shall have the same meaning as in the Plan. In the event of a conflict between or among the provisions of the Plan and this Award Agreement, the
Plan shall control. 
 3. DSU Account. 

 

	 	a.	The Company shall credit to a bookkeeping account (the “Account”) maintained by the Company, or a third party on behalf of the Company, for the
Director’s benefit the DSUs, each of which shall be deemed to be the equivalent of one share of the Company’s common stock, par value $.0.01 per share (each, a “Share”). 

 

	 	b.	Whenever any cash dividends are declared on the Shares, on the date such dividend is paid, the Company will credit to the Account a number of additional DSUs equal to
the result of dividing (i) the product of the total number of DSUs credited to the Account on the record date for such dividend and the per Share amount of such dividend by (ii) the Fair Market Value of one Share on the date such dividend
is paid by the Company to the holders of Shares. 

  

	 	c.	Whenever any dividends or distributions are declared on the Shares in the form of additional Shares, or there occurs a forward split of Shares, then a number of
additional DSUs shall be credited to the Account as of the payment date for such dividend or distribution or forward split equal to (i) the number of DSUs credited to the Account as of the record date for such dividend or distribution or split,
multiplied by (ii) the number of additional Shares actually paid as a dividend or distribution or issued in such split in respect of each outstanding Share. 

  
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	 	d.	Any additional DSUs credited under Sections 3(b) and (c) shall be or become vested to the same extent as the underlying DSUs and be settled and distributed on the
same date as the underlying DSUs. 

 4. Vesting. The Director’s rights with respect to the DSUs
granted hereunder shall be 100% vested at all times. 
 5. Forfeiture and Clawback. If, at any time prior to the
first anniversary of when the Director ceases service as a director of the Company for any reason, the Director engages in any activity in competition with any activity of the Company, or inimical, contrary or harmful to the interests of the
Company, including, but not limited to: (i) conduct related to the Director’s service as a director of the Company for which either criminal or civil penalties against the Director may be sought, (ii) material violation of the
Company’s policies, or (iii) disclosure or misuse of any confidential information or material concerning the Company, then (A) the DSUs shall be forfeited effective as of the date on which the Director enters into such activity, and
(B) the Director shall within ten (10) after written notice from the Company return to the Company the Shares paid by the Company to the Director with respect to the DSUs and, if the Director has previously sold all or a portion of the
Shares paid to the Director by the Company, the Director shall pay the proceeds of such sale to the Company. 
 6. Payment
of DSUs. Payment of the Director’s Account shall be made in one lump sum on the date that is six (6) months following the date of the Director’s “separation from service” (within the meaning of Treas. Reg. §
1.409A-1(h)). If the New York Stock Exchange (or any successor exchange or stock market on which shares of the Company’s common stock are traded) is not open on such day, then payment shall be made on the next day the New York Stock Exchange
(or any successor exchange or stock market on which shares of the Company’s common stock are traded) is open. 
 7.
Form of Payment. Payments pursuant to Section 6 shall be made in Shares equal to the number of DSUs credited to the Account. 
 8. Beneficiary. In the event of the Director’s death prior to payment of the DSUs credited to the Account, payment shall be made to the last beneficiary designated in writing that is
received by the Company prior to the Director’s death or, if no designated beneficiary survives the Director, such payment shall be made to the Director’s estate. 
 9. Source of Payments. The Director’s right to receive payment under this Award Agreement shall be an unfunded entitlement and shall be an unsecured claim against the general assets of
the Company. The Director has only the status of a general unsecured creditor hereunder, and this Award Agreement constitutes only a promise by the Company to pay the value of the Account on the Payment Date. 

10. Nontransferability. Except as permitted by the Plan, this Award Agreement shall not be assignable or transferable by
the Director or by the Company (other than to successors of the Company) and no amounts payable under this Award Agreement, or any rights therein, shall be subject in any manner to any anticipation, alienation, sale, transfer, assignment,

  
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pledge, encumbrance, levy, lien, attachment, garnishment, debt or other charge or disposition of any kind. 
 11. No Guarantee of Membership. The award of DSUs by the Company under this Award Agreement to the Director shall not be deemed to be a contract between the Company and the Director to
retain his or her position as a director of the Company. 
 12. Taxes. The Director shall be solely responsible
for all applicable income and self-employment taxes and other wage deductions incurred in connection with the vesting and settlement of the DSUs subject to this Award Agreement. Unless required to do so by applicable law, the Company and its
affiliates shall not pay or withhold any Federal, state, local, foreign or other taxes of any kind with respect thereto. Neither the Company nor any of its affiliates shall have any obligation to indemnify or otherwise hold the Director harmless
from any or all such taxes. 
 13. Notices. All notices required or permitted under this Award Agreement shall be
in writing and shall be delivered personally or by mailing the same by registered or certified mail postage prepaid, to the other party. Notice given by mail shall be deemed delivered at the time and on the date the same is postmarked. 

Notices to the Company should be addressed to: 
 EnerSys 
 2366 Bernville Rd. 

Reading, PA 19605 

Attention: General Counsel 
 Notices to the Director should be addressed to the Director at the Director’s address as it appears on the Company’s records. The Company or the Director may by writing to the other party,
designate a different address for notices. 
 14. Successors and Assigns. This Award Agreement shall inure to the
benefit of and be binding upon the heirs, legatees, distributees, executors and administrators of the Director and the successors and assigns of the Company. 
 15. Governing Law. This Award Agreement shall be governed by, and interpreted in accordance with, the laws of the State of Delaware, other than its conflict of laws principles. 

16. Entire Agreement; Modification. This Award Agreement and the Plan constitute the entire agreement between the parties
relative to the subject matter hereof, and supersede all proposals, written or oral, and all other communications between the parties relating to the subject matter of this Award Agreement. This Award Agreement may be modified, amended or rescinded
only by a written agreement executed by both parties. 
 17. Severability. The invalidity, illegality or
unenforceability of any provision of this Award Agreement shall in no way affect the validity, legality or enforceability of any other provision. 

  
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 IN WITNESS WHEREOF, this Award Agreement has been executed by the Company and the
Director, effective as of the date on the first page of this Award Agreement. 
  

			
	ENERSYS
		
	By:	 	 
		 	 John D. Craig
 Chairman,
President & CEO

	
	_______________________________________
	 _____________, Director

 Date of Grant: ___________ 
 Number of DSUs: ___________ 

  
 Page 4 of 4Second Supplemental Indenture

 Exhibit 4.1 
 SECOND SUPPLEMENTAL INDENTURE 
 THIS SECOND SUPPLEMENTAL INDENTURE (this
“Supplemental Indenture”) is dated as of May 24, 2011 by and among Exopack Holding Corp., a Delaware corporation (the “Company”), the guarantors named on the signature pages hereto (the
“Guarantors”) and The Bank of New York Mellon Trust Company, N.A., successor to The Bank of New York Mellon (formerly known as The Bank of New York), as trustee (the “Trustee”). 

W I T N E S S E T H: 
 WHEREAS, the Company, the Guarantors and the Trustee are parties to that certain Indenture, dated as of January 31, 2006, as supplemented by that First Supplemental Indenture dated as of
August 6, 2007 (as so supplemented, the “Indenture”), providing for the issuance of the Company’s
11 1/4% Senior Notes due 2014 (the
“Notes”) (capitalized terms used and not defined herein shall have the meanings ascribed to such terms in the Indenture); 
 WHEREAS, Section 9.02 of the Indenture provides that the Company and the Trustee may, with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding
Notes, enter into a supplemental indenture for the purpose of amending the Indenture; 
 WHEREAS, the Company has offered to
purchase for cash any and all of the outstanding Notes upon the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated May 6, 2011, and in the related Letter of Transmittal and Consent
(which together, including any amendments, modifications or supplements thereto, constitute the “Offer”), from each Holder of Notes; 
 WHEREAS, the Offer solicited consents from Holders of the Notes to the amendments (the “Amendments”) to the Indenture set forth herein; 

WHEREAS, the Company has obtained consents to the Amendments to the Indenture from the Holders of at least a majority in aggregate
principal amount of the outstanding Notes; 
 WHEREAS, the Company has delivered to the Trustee an Officers’ Certificate as
well as an Opinion of Counsel to the effect that the execution and delivery of this Supplemental Indenture by the Company is authorized or permitted under the Indenture and that all conditions precedent provided for in the Indenture to the execution
and delivery of this Supplemental Indenture to be complied with by the Company have been complied with; and 
 WHEREAS, all
other acts and requirements necessary to make this Supplemental Indenture a valid and binding agreement in accordance with its terms have been duly done and performed. 

 NOW, THEREFORE, in consideration of the premises and the covenants and agreements contained
herein, and for other good and valuable consideration the receipt of which is hereby acknowledged, and for the equal and proportionate benefit of the Holders of the Notes, the Company, the Guarantors and the Trustee hereby agree as follows:

 ARTICLE ONE 

Section 1.01 Definitions. Sections 1.01 and 1.02 of the Indenture are amended by deleting all definitions of terms, and references to
definitions of terms, that are used exclusively in the text of the Indenture and in the text of the Notes that are being otherwise eliminated by this Supplemental Indenture. 
 ARTICLE TWO 
 Section 2.01 Amendment of Table of Contents. Subject to
Section 3.01 hereof, the Table of Contents of the Indenture is amended by deleting the titles to Sections 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15 and 4.17 in their entirety and inserting in lieu thereof the
phrase “[intentionally omitted]”. 
 Section 2.02 Amendment of Article 4. Subject to Section 3.01 hereof, the
Indenture is amended by deleting the following provisions of the Indenture in their entirety and inserting in lieu thereof the phrase “[intentionally omitted]”: 

 

			
		
	Section 4.03	  	Reports
		
	Section 4.04	  	Compliance Certificate
		
	Section 4.05	  	Taxes
		
	Section 4.06	  	Stay, Extension and Usury Laws
		
	Section 4.07	  	Restricted Payments
		
	Section 4.08	  	Dividend and Other Payment Restrictions Affecting Subsidiaries
		
	Section 4.09	  	Incurrence of Indebtedness and Issuance of Preferred Stock
		
	Section 4.10	  	Asset Sales
		
	Section 4.11	  	Transactions with Affiliates
		
	Section 4.12	  	Liens
		
	Section 4.13	  	Business Activities
		
	Section 4.14	  	Corporate Existence
		
	Section 4.15	  	Offer to Repurchase Upon Change of Control
		
	Section 4.17	  	Additional Note Guarantees

  
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 Section 2.03 Amendment of Section 5.01. Subject to Section 3.01 hereof, the provisions
of Section 5.01 of the Indenture are amended by deleting the text of clauses (3) and (4) from Section 5.01 and inserting in lieu thereof the phrase “[intentionally omitted]”. 

Section 2.04 Amendment of Section 6.01. Subject to Section 3.01 hereof: 

(a) the provisions of Section 6.01 of the Indenture are amended by deleting the text of clauses (4), (5), (6) and
(7) therefrom and inserting in lieu thereof the phrase “[intentionally omitted]”; 
 (b) the provisions of
Section 6.01(3) of the Indenture are amended by deleting the phrase “or any of its Restricted Subsidiaries” therefrom and by deleting the phrase “Sections 4.10, 4.15 or 5.01” and inserting in lieu thereof the phrase
“Section 5.01”; 
 (c) the provisions of Section 6.01(8) of the Indenture are amended by deleting the phrase
“or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary”; and 

(d) the provisions of Section 6.01(9) of the Indenture are amended by deleting the phrase “or any of its Restricted
Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary.” 
 Section 2.05 Amendment of Section 8.04. Subject to Section 3.01 hereof, the provisions of Section 8.04 of the Indenture are amended by deleting the text of clause
(6) therefrom and inserting in lieu thereof the phrase “[intentionally omitted]”. 
 Section 2.06 Amendment of Notes.
Subject to Section 3.01 hereof, the Notes are hereby deemed to be amended to delete all provisions inconsistent with the amendments to the Indenture effected by this Supplemental Indenture. 

ARTICLE THREE 

Section 3.01 Effectiveness of Amendments. This Supplemental Indenture shall be effective immediately upon execution and delivery of this
instrument by the parties hereto. Notwithstanding the foregoing sentence, the provisions of Article Two of this Supplemental Indenture shall become operative only upon the delivery of notice from the Company to the Depositary for the Offer that the
Company has accepted for payment at least a majority in aggregate principal amount of the outstanding Notes (excluding any Notes owned by the Company or any of its affiliates) pursuant to the Offer. 

  
 - 3 -

 Section 3.02 Confirmation of Indenture and Notes. Except as amended hereby, the Indenture and
the Notes are in all respects ratified and confirmed, and all the terms shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter
authenticated and delivered under the Indenture shall be bound hereby, and all terms and conditions of both shall be read together as though they constitute a single instrument, except that in the case of conflict, the provisions of this
Supplemental Indenture shall control. 
 Section 3.03 Governing Law. This Supplemental Indenture shall be governed by, and construed
in accordance with, the laws of the State of New York, but without giving effect to applicable principles of conflicts of laws to the extent that the application of the laws of another jurisdiction would be required thereby. 

Section 3.04 Trust Indenture Act Controls. If any provision of this Supplemental Indenture limits, qualifies or conflicts with another
provision of this Supplemental Indenture or the Indenture that is required to be included by the Trust Indenture Act of 1939 (the “Act”), as amended, as in force at the date this Supplemental Indenture is executed, the provision
required by the Act shall control. 
 Section 3.05 Trustee Disclaimer. The recitals contained in this Supplemental Indenture shall
be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture. All rights, protections, privileges,
indemnities and benefits granted or afforded to the Trustee under the Indenture shall be deemed incorporated herein by this reference and shall be deemed applicable to all actions taken, suffered or omitted by the Trustee under this Supplemental
Indenture. 
 Section 3.06 Successors and Assigns. All covenants and agreements in this Supplemental Indenture by the Company and
the Guarantors shall bind their respective successors and assigns. All covenants and agreements in this Supplemental Indenture by the Trustee shall bind its successor and assigns. 
 Section 3.07 Counterparts. This Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all of such counterparts
shall together constitute but one and the same instrument. 
 Section 3.08 Headings. The section headings herein are for convenience
only and shall not affect the construction thereof. 
 Section 3.09 Severability. In case any provision in this Supplemental
Indenture or the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

[Signatures pages follow] 

  
 - 4 -

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the day and year first above written. 
  

					
	COMPANY:
	
	EXOPACK HOLDING CORP.
		
	By:	 	         /s/ Eric Lynch

		 	Name:	 	Eric Lynch
		 	Title:	 	Chief Financial Officer
	
	GUARANTORS:
	
	EXOPACK, LLC
		
	By:	 	         /s/ Eric Lynch

		 	Name:	 	Eric Lynch
		 	Title:	 	Chief Financial Officer
	
	EXOPACK-THOMASVILLE, LLC
		
	By:	 	         /s/ Eric Lynch

		 	Name:	 	Eric Lynch
		 	Title:	 	Chief Financial Officer
	
	EXOPACK-HEBRON, L.L.C.
		
	By:	 	         /s/ Eric Lynch

		 	Name:	 	Eric Lynch
		 	Title:	 	Chief Financial Officer
	
	EXOPACK-ONTARIO, INC.
		
	By:	 	         /s/ Eric Lynch

		 	Name:	 	Eric Lynch
		 	Title:	 	Chief Financial Officer

  
 Signature
Page to Second Supplemental Indenture 

 
					
	EXOPACK-TECHNOLOGY, LLC
		
	By:	 	         /s/ Eric Lynch

		 	Name:	 	Eric Lynch
		 	Title:	 	Chief Financial Officer
	
	CELLO-FOIL HOLDING CORP.
		
	By:	 	         /s/ Eric Lynch

		 	Name:	 	Eric Lynch
		 	Title:	 	Chief Financial Officer
	
	CELLO-FOIL PRODUCTS, INC.
		
	By:	 	         /s/ Eric Lynch

		 	Name:	 	Eric Lynch
		 	Title:	 	Chief Financial Officer
	
	TPG GROUP HOLDING CORP.
		
	By:	 	         /s/ Eric Lynch

		 	Name:	 	Eric Lynch
		 	Title:	 	Chief Financial Officer
	
	TPG ENTERPRISES, INC.
		
	By:	 	         /s/ Eric Lynch

		 	Name:	 	Eric Lynch
		 	Title:	 	Chief Financial Officer
	
	TPG (US), INC.
		
	By:	 	         /s/ Eric Lynch

		 	Name:	 	Eric Lynch
		 	Title:	 	Chief Financial Officer

  
 Signature
Page to Second Supplemental Indenture 

 
			
	EXOPACK ADVANCED COATINGS, LLC
		
	By:	 	         /s/ Eric Lynch

		 	Name: Eric Lynch
		 	Title:   Chief Financial Officer
	
	 INTELICOAT TECHNOLOGIES IMAGE PRODUCTS MATTHEWS LLC

		
	By:	 	         /s/ Eric Lynch

		 	Name: Eric Lynch
		 	Title:   Chief Financial Officer
	
	TRUSTEE:
	
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

		
	By:	 	         /s/ Christie Leppert

		 	Name: Christie Leppert
		 	Title:   Vice President

  
 Signature
Page to Second Supplemental Indenture

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