Document:

Volume Supply Agreement, dated June 14, 2000

 Exhibit 10.28 
 Note: Information in this document marked with a “[***]” has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 VOLUME SUPPLY AGREEMENT 
 THIS
AGREEMENT (“Agreement”) is made between Fabrinet, an exempted company formed under the laws of the Cayman Islands (“Fabrinet”), and Finisar Corporation, a Delaware corporation (“Finisar”), as of the last date signed by
the parties below. 
  

									
		  	Fabrinet (Cayman Islands)	 		 		 	Finisar Corporation
					
	By:	  	 /s/ David T. Mitchell
	 		 	By:	 	 /s/ Jerry Rawls

	Name:	  	David T. Mitchell	 		 	Name:	 	Jerry Rawls
	Title:	  	President & CEO	 		 	Title:	 	President / CEO
	Date:	  	June 14, 2000	 		 	Date:	 	6/15/00

 Objective: The parties wish to form a contract manufacturing relationship whereby Fabrinet will manufacture
optical communications products for sale to Finisar. The parties will begin the relationship with Fabrinet building sub-assemblies for optical transceivers based on Finisar’s design. It is Finisar’s intent, assuming that Fabrinet can build
products at the prices, in the quantities, and to the specifications requested by Finisar, that Fabrinet will manufacture up to [***]% of Finisar’s transceiver product line, made up of the receiver, transmitter, and printed circuit board sub
assemblies, and that Fabrinet will become Finisar’s preferred contract manufacturer. It is Fabrinet’s intent to produce high-quality, competitively priced products for Finisar, and to offer Finisar sufficient manufacturing capacity to help
Finisar meet its customers’ needs. 
 1. Supply Orders. “Supply” or “Supplies” means the products listed in Exhibit A.
Specifications for Supplies (“Specifications”) are also listed in Exhibit A. 
 2. Purchasing Entities. Finisar or its assignees may
purchase Supplies under this Agreement. 
 3. Manufacturing Equipment; IP License. 
 3.1. Finisar will deliver to Fabrinet on consignment the manufacturing equipment (“Equipment”) listed on Exhibit B. The Equipment will be used exclusively by Fabrinet for the manufacture of Supplies
through Fabrinet Ltd. (Thailand), a subsidiary of Fabrinet formed under the laws of the Kingdom of Thailand (“FT”), and to fill Orders for Finisar. Fabrinet will assume all risk of loss to the Equipment once Finisar delivers it to the FT
manufacturing location in Thailand. Fabrinet will keep the Equipment in good condition and repair, reasonable wear and tear excepted. Fabrinet will maintain the Equipment at an FT facility in Thailand. Fabrinet will not attempt to transfer or convey
the Equipment to any third party. Fabrinet will return all Equipment to Finisar, at Finisar’s expense, immediately upon Finisar’s request. (“Subsidiary” means a corporation in which a party directly owns or controls, and
continues to own or control, more than fifty percent of the voting stock.) 
  

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respect to the omitted portions. 
  

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 3.2. Finisar owns certain technical information and know-how that relates to the design, techniques, processes, work
instructions and materials for the manufacture of the Supplies (“Information”). Finisar will retain ownership of all intellectual property rights in and to the information and the design and manufacture of the Supplies. 
 3.3. Finisar grants to Fabrinet a nonexclusive, nontransferable license to use the information to make, have made, and sell the Supplies only to Finisar and only while
this Agreement is in effect. Fabrinet and its Subsidiaries will provide to Finisar, promptly and free of charge, all revisions and improvements to the Information, which shall at all times be owned solely by Finisar. No other license is granted by
Finisar, by implication or otherwise. 
 3.4. Fabrinet will receive reasonable training at Finisar’s facilities to help facilitate the manufacture of
the Supplies by Fabrinet, through FT. Fabrinet will bear the costs and expenses relating to the travel, lodging and meals of its employees and agents. Fabrinet will pass all qualification tests for the Supplies as requested by Finisar, at
Fabrinet’s cost and in accordance with a schedule agreed upon by Finisar. 
 4. Orders; Forecasts. 
 4.1. Finisar may submit purchase orders (“Orders”) for the sale and purchase of Supplies. Each Order will specify the types and quantities of requested
Supplies, and the delivery dates and destination points. The terms and conditions of this Agreement will be incorporated into each Order. In the event of any conflicts, differences or inconsistencies between the terms and conditions of this
Agreement and those of any Order, quotation, acknowledgment or any other related document, the terms and conditions of this Agreement will govern. 
 4.2.
Finisar will provide Fabrinet weekly with a rolling Master Schedule (“Master Schedule”). The Master Schedule will contain non-binding forecast projections of the types and quantities of Supplies Finisar expects to purchase during
the ensuing twenty-six week rolling period, broken down by weeks Finisar will issue Orders, at a minimum, for all Supplies that are projected on the Master Schedule to be purchased by Finisar within [***] weeks from the date of that Master
Schedule. Finisar may extend the delivery date of any Order, in whole or in part, (and the corresponding invoice) anytime before the Supplies are shipped. 
 4.3. Fabrinet will accept all Orders that call for quantities of Supplies that do not exceed the Master Schedule projections or the manufacturing commitments as listed in Exhibit A. 
 5. Delivery; Acceptance. 
 5.1. Delivery of Supplies will be FOB
FT’s manufacturing facility by a carrier selected by Finisar. Finisar shall be the “importer of record”, responsible for customs duties, imposts, and VAT and related costs of importing Supplies. Finisar shall not be responsible for
any expenses incurred in shipping direct or indirect raw materials from Finisar or any third-party vendor to Fabrinet. 
 5.2. All Supplies will be free from
any third party liens or encumbrances; Finisar will receive good and marketable title to the Supplies at the time of delivery. 
  

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treatment has been requested with respect to the omitted portions. 
  

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 5.3. Finisar will provide written notice within fifteen days of its receipt of Supplies as to whether it rejects the
Supplies in whole or in part. Supplies will be rejected only if they are defective or non-conforming. Rejected Supplies will be shipped to Fabrinet with freight and insurance prepaid by Fabrinet. 
 6. Cancellation. Finisar’s maximum liability shall be as follows: 
  

	 	a.	Finished Goods. Finisar shall pay 100% of Costs (“Costs” shall be defined as those materials and labor and overhead costs described at Section 9 and detailed
at Exhibit A) for all Supplies manufactured as of the date of cancellation, whether such Supplies are at Fabrinet’s manufacturing facility or in transit to Finisar. However, Finisar shall not be obligated to pay for any more than a
fourteen working day supply of such items unless supply levels in excess of this amount are agreed upon and made part of the Master Schedule. 

  

	 	b.	Work in Process. Finisar shall be responsible for Costs of work in process in the percentage of work completed on a given Supply as of the date of cancellation.

  

	 	c.	Raw Materials. Finisar shall be responsible for [***]% of the cost of any unique materials used in the Component manufacturing process on hand at, or in transit to,
Fabrinet’s manufacturing facility as of the date of cancellation. The following table represents the percentage of raw material costs Finisar shall be responsible for upon cancellation of any Supply order: 

  

			
	 Within two week of cancellation:
	  	[***]% (unit Cost x scheduled volume)
	 Within four weeks:
	  	[***]%
	 Within six weeks:
	  	[***]%
	 Within eight weeks:
	  	[***]%
	 Within twelve weeks:
	  	[***]%

 Finisar shall not be responsible for any raw materials costs for Supplies scheduled for production
greater than twelve weeks from the date of cancellation. 
  

	 	d.	Open Purchase Orders. The parties understand that Fabrinet may incur costs assessed by vendors for the cancellation of component orders with long lead times. In the event
that Fabrinet is assessed any such costs, Finisar shall reimburse Fabrinet for all such costs, provided that such costs are for Supplies to be produced per the Master Schedule and rolling forecasts. Fabrinet agrees to notify vendors of any
cancellation within 24 hours of receipt of notice of cancellation from Finisar. Fabrinet further agrees to audit a vendor’s assessment and will make the results of such audit available to Finisar. 

 7. Invoices. Fabrinet will invoice Finisar upon delivery of the corresponding Supplies. Payment terms will be [***] days from receipt of invoices for the first
six months of production; [***] days from receipt of invoice for months seven through twelve; and, [***] days from receipt of invoice thereafter. 
  

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 8. Technical Support. Fabrinet will provide reasonable technical support relating to the Supplies. 
 9. Prices. Prices for Supplies are listed at Exhibit A. The price shall be the sum of: (1) the cost of materials used to produce the Supplies, including
a [***]% margin: plus (2) labor and overhead charges (“L/O”) equal to USD$[***] per standard labor hour. Fabrinet will define and implement a long-term cost reduction program for each Supply. Prices will be negotiated by the parties
once per quarter to capture reductions due to: (i) high-volume purchases; (ii) materials and L/O cost reductions achieved by Fabrinet; (iii) agreed changes in Supply specifications; or (iv) improvements in Fabrinet’s yields
or processes. Prior to the beginning of each quarter, Fabrinet shall disclose to Finisar [***] to be used in the manufacture of the Supplies and the parties shall negotiate a “cost of materials” for the next quarter. Finisar agrees that
Fabrinet may invoice Finisar for Supplies manufactured during that next quarter at the agreed upon cost of materials plus a [***]% materials mark-up. In addition, the parties intend to take advantage of global tax efficiencies, where mutually
acceptable, in order to reduce Costs. 
 10. Product and Process Changes; Product Qualification. Fabrinet will notify Finisar in writing of all
proposed changes to Supplies or related manufacturing and quality assurance processes. 
 10.1. The notice will include the reason for the change, details of
its implementation and the planned date of the change. 
 10.2. Finisar may request test data and a sufficient sampling of the affected Supply associated
with any proposed changes. 
  

	10.3.	No changes will be made without Finisar’s prior written consent, which will not be unreasonably withheld. 

 11. Quality Control and Reliability. Fabrinet warrants and represents that the Factory is ISO 9002 and ISO 14002 certified, and will maintain those certifications
during this Agreement. In addition, Fabrinet agrees to implement 6-sigma statistical analysis, where applicable, to the production of Supplies under this Agreement. 
 11.1. Fabrinet will reasonably test and inspect Supplies prior to shipment and will give inspection records to Finisar upon request. 
 11.2. Fabrinet will promptly report to Finisar in writing any suspected or actual defect in design or manufacturing of the Supplies, malfunction of Supplies, or nonconformance to the Specifications. 
 11.3. Fabrinet will provide to Finisar, at no charge, reasonable technical support during Finisar’s normal hours of operation at its San Jose, California location.

  

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information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 11.4. Finisar may identify certain critical Supplies that include components and materials, and their respective vendors,
which must be approved by Finisar in advance. Once identified, Fabrinet will only use such approved components and materials procured from such approved vendors in its manufacture of the Supplies. 
 12. Inspection Rights. Finisar may reasonably review, inspect and test, at Fabrinet’s and its Subsidiaries’ locations, products covered by this
Agreement, and audit Fabrinet’s and it Subsidiaries’ processes and vendors. 
 13. Term and Termination. The term of this Agreement will
continue until three years after the date last signed by the parties. This Agreement will automatically renew for successive one-year periods unless (i) Finisar notifies Fabrinet in writing 90 days prior to renewal that Finisar will terminate
the Agreement, or, Fabrinet notifies Finisar in writing 180 days prior to renewal that Fabrinet will terminate the Agreement. Either party may terminate this Agreement upon 30 days’ written notice if the other party: 
 13.1. breaches a material term or condition of this Agreement and fails to cure the same within thirty days of receipt of written notice by the nonbreaching party
specifying such breach; or, 
 13.2. ceases to do business (excluding mergers, acquisitions, consolidations or reorganizations), elects to dissolve,
dissolves, becomes insolvent, is unable to pay debts as they become due, makes a general assignment for the benefit creditors, or, files, or has filed against it, a bankruptcy petition. 
  

	14.	Patent Warranty. 

 14.1. Each party (“Indemnitor”) will
indemnify the other party (“Indemnitee”) against any loss or expense arising out of any claim brought against the Indemnitee for a claim of infringement of any third party intellectual property rights alleged or determined to be caused by
Indemnitor’s design or process relating to the Supplies; provided, that Indemnitee notifies Indemnitor promptly of any such claim; allow Indemnitor, at Indemnitor’s option, to participate in or fully control the defense with
Indemnitor’s counsel; and, fully cooperates with such defense. 
  

	15.	Product Warranties. 

 15.1. Fabrinet warrants for three years from
the delivery of a Supply that such Supply will be free from defects in materials and workmanship, will strictly conform to the Specifications, and will be fit for the particular purpose for which it was ordered. (Each party expressly agrees that
this warranty does not apply to any defective materials or designs provided by or through Finisar.) Fabrinet’s obligation under this warranty is to repair or replace any defective or nonconforming Supply. All freight and insurance costs related
to repair or replacement of Supplies will be borne by Fabrinet. 
 15.2. Fabrinet will provide a preliminary failure analysis on all returned Supplies within
forty-eight (48) hours from receipt. A written report of the complete failure analysis and its findings will be delivered to Finisar within 10 days of receipt. 
  

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 15.3. If the DPPM rate exceeds [***] units for Supplies shipped during any ninety-day period, then Fabrinet will
immediately initiate a corrective action plan and perform a root cause analysis on the Supply. Fabrinet will update Finisar daily with the status and findings of the analysis and plan. 
 15.4. If, within [***] years from the end of this Agreement, an intrinsic Fabrinet design or manufacturing defect of a Supply causes an inoperative, hazardous or unsatisfactory condition, then Fabrinet will, promptly
at its expense: (i) make such change to eliminate that defect in all affected or defective units of that Supply; and, (ii) implement the change in all affected or defective units of that Supply, both installed and stocked. 
 16. Continuing Availability of Services, Products and Parts. Fabrinet will offer replacement products on all Supplies that are no longer subject to the product
warranty, on commercially reasonable terms, for [***] years after expiration of that warranty. 
 17. Limitation of Liability. EXCEPT AS OTHERWISE
PROVIDED HEREIN, IN NO EVENT WILL EITHER PARTY HAVE ANY LIABILITY FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES THAT RELATE IN ANY WAY TO THIS AGREEMENT, WHETHER OR NOT THAT PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF ANY SUCH DAMAGES.

 18. Confidential Information. The June 7, 2000 Proprietary Information Agreement (“NDA”) between Finisar and FT is hereby
incorporated by reference, and its terms made part of this Agreement, except that the NDA cannot be terminated by FT or by either party to this Agreement while this Agreement is in effect. In addition, the parties acknowledge that: (i) this
Agreement, its terms and conditions, the business relationship between the parties, and the internal structure and functionality of all Supplies now or hereafter listed on Exhibit A are all deemed to be “Confidential Information” (as
defined in the NDA). 
 19. [***]. 
 20. Notices.
Notices will be in writing, delivered by overnight mail or courier, deemed received on the date of delivery, and addressed as follows: 
  

			
	If to Fabrinet:	  	If to Finisar:
	Fabrinet (Cayman Islands)	  	Finisar Corporation
	c/o Fabrinet, Inc.	  	1308 Moffett Park Drive
	4104 – 24th Street	  	Sunnyvale, CA 94089
	San Francisco, CA 94114	  	Attn: Jerry Rawls
	Attn: General Counsel	  	

 21. Relationship of Parties. Fabrinet and Finisar are separate and distinct entities, and this Agreement
does not create a partnership, joint venture, or any common undertaking. 
 22. Force Majeure. Neither party will be liable, nor in breach of this
Agreement, for any delay or failure in performance or interruption of service resulting from acts of God, government authority, civil disturbances, fire, the elements, or any other cause(s) which are beyond that party’s reasonable 

 

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control; provided, that that party promptly notifies the other party of the delay or failure. Shortages of parts, materials or labor will not be deemed to be
force majeure causes; and, Finisar may terminate this Agreement if any force majeure cause continues for more than thirty days. 
 23. Governing Law;
Attorneys’ Fees. This Agreement will be governed by and construed in accordance with the laws of California (excluding laws and principles relating to the conflict of laws). In any action to enforce this Agreement, the prevailing party will
be entitled to recover reasonable attorneys’ fees and other costs incurred therein, in addition to any other relief. 
 24. Severability. If any
term Agreement is held invalid or unenforceable, the remainder of this Agreement will not be affected and each other term will be valid to the extent permitted by law. 
 25. Entire Agreement; Modification; Waiver. This Agreement is the entire agreement between the parties, and supersedes all prior and contemporaneous agreements and representations. No modification of this
Agreement will be binding unless executed in writing by the parties. No waiver of any of the provisions of this Agreement will be deemed a waiver of any other provision, nor a continuing waiver. No waiver will be binding unless executed in writing
by the party to be charged. 
 26. Binding Effect; Assignment. This Agreement will be binding on and will inure to the benefit of the parties and
their respective agents, successors and permitted assigns; provided, however, that no party will have the right to transfer or assign any rights or obligations under this Agreement (other than transfers or assignments by operation of law) without
first obtaining the other party’s written consent. Any attempted assignment in violation of this provision will be void. 
 27. Trade
Restrictions. Fabrinet will comply in all respects with applicable export, import and re-export law and regulations for each of the Supplies shipped, and for all information and any other technical data received from Finisar. 
 28. Survival Of Provisions. The respective rights, duties and obligations of Fabrinet and Finisar pursuant to paragraphs 14—19 and 23 will survive any
expiration or termination of this Agreement. 
 29. Time of Essence. Time is of the essence of this Agreement. 
  

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 EXHIBIT A 
 Labor & Overhead: 
  

											
	 Production
 Description
 Number
	 	 Finisar
 Part Number
	 	 Fabrinet
 Part Number
	 	 Labor/Overhead:
 Units Per
 Standard
Hour
	 	 Labor/Overhead:
 Cost Per Unit
	 	 Specifications

	 Receiver sub-assembly
	 		 		 		 		 	

 Materials: 
  

									
	 Production
 Description
 Number
	 	 Finisar
 Part Number
	 	 Fabrinet
 Part Number
	 	 Fabrinet Materials
 Cost
	 	 Finisar Materials
 Price ([***]%
 margin)

	 Receiver sub-assembly
	 		 		 		 	

 Total Supply Price: 
  

											
	 Production
 Description
 Number
	 	 Finisar
 Part Number
	 	 Fabrinet
 Part Number
	 	 L&O per unit
	 	 Materials Price
	 	 Supply Price

	 Receiver sub-assembly
	 		 		 		 		 	

 (1) Purchase Commitment: For each calendar quarter beginning from the time the Supplies in this
Exhibit qualify for sale to Finisar, Finisar intends to purchase from Fabrinet up to [***]% of its actual requirements for those Supplies, subject to Fabrinet’s ability to deliver quality Supplies at competitive prices in quantities and at
the times required under this Agreement. To the extent 
  

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respect to the omitted portions. 
  

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Finisar purchases similar products from other vendors due to Fabrinet’s failure to comply with its obligations under this Agreement, then such purchases
will not be considered in determining Finisar’s compliance with this purchase commitment (i.e. those purchases will be deducted from Finisar’s total purchases before calculating the commitment amount). 
 (2) Manufacturing Commitment: Fabrinet will maintain sufficient manufacturing capacity to be able to increase the number of units of each Supply shipped weekly to
Finisar by [***]% within two weeks, [***]% with four weeks, and [***]% within six weeks. The capacity will be based on the weekly average number of units shipped to Finisar over the then-preceding four weeks. For example, if Fabrinet shipped a total
of [***] units of a Supply over the preceding four-week period (i.e., a weekly average of [***]), then Fabrinet must be able to ship up to [***] units in each of the next two weeks, up to [***] units per week after two weeks, up to [***] units per
week after four weeks, and up to [***] units per week after the sixth week. Notwithstanding the foregoing, Fabrinet will have no liability for breaching this manufacturing commitment if such breach is caused solely by Finisar’s failure to
timely deliver the Equipment and necessary quantities of Material for the Supplies. 
  

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respect to the omitted portions. 
  

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 EXHIBIT B 
 EQUIPMENT LIST 
  

 -10-Second Amendment to Syndicated Multicurrency Credit Agreement

 Exhibit 10 (eeee) 
 EXECUTION COPY 
 SECOND AMENDMENT TO CREDIT AGREEMENT 

THIS SECOND AMENDMENT TO CREDIT AGREEMENT (the “Second Amendment”), dated as of August 13, 2007, is by and among Quaker Chemical
Corporation, a Pennsylvania corporation (the “Company”), each of the Designated Borrowers party hereto, each of Lenders party hereto, Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and ABN Amro
Bank, N.V., as Syndication Agent. Capitalized terms used and not otherwise defined in this Second Amendment shall have the respective meanings ascribed to them in the Credit Agreement (as defined below). 
 WHEREAS, the parties hereto entered into that certain Credit Agreement dated as of October 14, 2005, as amended by the First Amendment to Credit
Agreement dated as of October 6, 2006 (as the same may be modified and amended from time to time, including by the Second Amendment, the “Credit Agreement”); and 
 WHEREAS, the Company has requested, and the other parties hereto have agreed to amend certain provisions of the Credit Agreement on the terms and
conditions contained herein; 
 NOW, THEREFORE, in consideration of the mutual promises herein contained, and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 
 Section 1. Amendments to Credit Agreement. Subject to the satisfaction of the conditions precedent set forth in Section 2 of this Second Amendment, the Credit Agreement is hereby amended as follows,
effective as of the Second Amendment Effective Date, except as otherwise expressly set forth herein: 
 (a) Section 1.01 of the Credit
Agreement is amended by amending and restating the following definitions, to read in their entireties as follows: 
 “Alternative Currency” means each of Euro, Sterling, Peso, Canadian Dollar and each other currency (other than Dollars) that is approved in accordance with Section 1.05 (Additional Alternative Currencies). 

“Consolidated EBITDA” means, for any period, for the Company and its Subsidiaries on a consolidated basis, an amount
equal to Consolidated Net Income for such period plus (a) the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest Charges for such period, plus the portion of rent expense that is
treated as interest in accordance with GAAP as a result of the Permitted Sale and Leaseback Transaction being subject to a Lease Accounting Rules Change; (ii) the provision for Federal, state, local and foreign income taxes includable in Net
Income for such period including, without limitation, Permitted Non-Cash Reversals; (iii) depreciation and amortization expense; (iv) non-cash charges in respect of any write down of assets taken in the ordinary course of business;
(v) commencing on January 1, 2006, non-cash compensation expenses related to the application of financial accounting standard 123-R; and (vi) charges taken to Consolidated Net Income in an aggregate amount not to exceed $7,500,000 as
a result of the Permitted Environmental Obligations; and minus (b) the following to the extent included in calculating such Consolidated Net Income: (x) Federal, state, local and foreign 

 Exhibit 10 (eeee) 
  

 
income tax credits of the Company and its Subsidiaries for such period and (y) non-cash items increasing Consolidated Net Income in respect of any write
up of assets taken in the ordinary course of business; provided, however, that the Company shall treat as rent expense, and therefore reduce EBITDA by, the amount of any payment made or accrued during such period on account of the Permitted Sale and
Leaseback Transaction, to the extent same is subject to a Lease Accounting Rules Change. Calculations of Consolidated EBITDA shall give effect, on a pro forma basis, to all Permitted Acquisitions and Dispositions permitted under this
Agreement made during the quarter or year to which the required compliance relates, as if such Permitted Acquisition or Disposition had been consummated on the first day of the applicable period. 
 “Dutch Banking Act” means the Financial Supervision Act (Wet op het financieel toezicht), as the same may be
amended from time to time. 
 “Interest Period” means, as to each Eurocurrency Rate Loan, the period
commencing on the date such Eurocurrency Rate Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one (1), two (2), three (3), six (6) or, if available by all Lenders, twelve (12) months
thereafter, as selected by the Applicable Borrower 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 next 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. 
 “Letter of Credit Sublimit” means an aggregate amount equal to $35,000,000. The Letter of Credit Sublimit is part of, and
not in addition to, the Aggregate Commitments. 
 “Maturity Date” means August 10, 2012. 
 “Note” means an Amended and Restated Note, and “Notes” means, collectively, all or some of such Amended
and Restated Notes. 
 “Permitted Acquisition” means any purchase of or investments in the capital stock or
other equity or assets of any entity by any Borrower or any Subsidiary: 
 (a) provided that (i) the sum of the aggregate
purchase price and the aggregate amount of all such acquisitions and investments made in any fiscal year, does not exceed $50,000,000, in the aggregate; and (ii) if after giving effect to such acquisitions and any related dispositions of assets
purchased in connection therewith, the Borrower or Subsidiary is in compliance with Section 7.07 (Change in Nature of Business); provided further that the aggregate value of all "Unrelated Lines of Business" acquired and continuing to be held
after the Closing Date pursuant to Permitted Acquisitions does not exceed the Material Amount; and 
  

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 Exhibit 10 (eeee) 
  

 (b) provided that no Default has occurred and is continuing; and 
 (c) which, after giving effect to such acquisition, including without limitation, recalculating the covenants set forth in
Section 7.11 and 7.12 on a pro forma basis, including the stock or assets and concomitant liabilities then being acquired, the applicable Borrower will not be in default under any provision of any of the Credit Documents. 
 “Professional Market Party” means a professional market party as defined in the Financial Supervision Act (Wet op het
financieel toezicht), as such definition is amended from time to time to include or exclude persons or entities. 
 “Swing Line Sublimit” means an aggregate amount equal to the lesser of (a) $20,000,000 and (b) the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments.

 (b) Section 1.01 of the Credit Agreement is further amended by adding the following additional definitions thereto, to read in their
entireties as follows: 
 “Amended and Restated Note” means a promissory note made by a Borrower in favor of
a Lender under any Loan made by such Lender to such Borrower, substantially in the form of Exhibit A to the Second Amendment, and “Amended and Restated Notes” means collectively, all or some of such Amended and Restated Notes. 

“Canadian Dollar” and “C$” mean the lawful currency in Canada. 
 “Peso” means the lawful currency in Mexico. 
 “Permitted Environmental Obligations” means amounts required to be paid (including, without limitation, costs of
litigation) on account of either a court-approved settlement or final judgment rendered against the Company and/or one or more of its Subsidiaries with respect to litigation currently pending in Superior Court, Orange County, California by the
Orange County Water District against AC Products, Inc., a subsidiary of the Company, relating to a groundwater contamination claim. 
 “Second Amendment” means that certain Second Amendment to Credit Agreement, dated as of August 13, 2007, by and among, inter alia, the Company, the Designated Borrowers, the Lenders, and the Administrative Agent.

 “Second Amendment Fees” means the following fees the Company is required to pay to the Administrative
Agent for the account of each Lender in accordance with its Applicable Percentage: (i) a commitment fee in the amount of $50,000 (being 20 basis points on the amount of the increased Commitment) and (ii) an extension fee in the amount of
$100,000 (being 10 basis points on the amount of Aggregate Commitments in place prior to the Second Amendment Effective Date), and such fees shall be due and payable on the Second Amendment Effective Date. 
  

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 Exhibit 10 (eeee) 
  

 “Second Amendment Documents” means the Second Amendment, the Notes
and any other documents, agreements or instruments executed and delivered in connection therewith. 
 “Second
Amendment Effective Date” has the meaning set forth in Section 2 of the Second Amendment. 
 (c) Section 1.01 of the
Credit Agreement is further amended by deleting the following definitions thereto, in their entireties: 
 “Dutch
Banking Act Exemption Regulation” 
 “Dutch Central Bank” 
 (d) Section 2.15(a) of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
 “Request for Increase. Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders),
the Company may from time to time, request an increase in the Aggregate Commitments by an amount (for all such requests in the aggregate) not exceeding $50,000,000; provided that, (i) any such request for an increase shall be in a minimum
amount of $5,000,000; and (ii) the Company may make a maximum of three (3) such requests. At the time of sending such notice, the Company (in consultation with the Administrative Agent) shall specify the time period within which each
Lender is requested to respond (which shall in no event be less than ten (10) Business Days from the date of delivery of such notice to the Lenders).” 
 (e) Section 5.12 of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
 “(a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other Federal or state Laws, except with respect to any non-compliance that reasonably could be
expected to result in liability in excess of $1,500,000. Each Plan that is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS or an application for such a letter is currently being
processed by the IRS with respect thereto and, to the best knowledge of the Company, nothing has occurred which would prevent, or cause the loss of, such qualification. Except where the failure to do so could not reasonably be expected to result in
liability in excess of $1,500,000, the Company and each ERISA Affiliate have made all required contributions to each Plan subject to Section 412 of the Code, and no application for a funding waiver or an extension of any amortization period
pursuant to Section 412 of the Code has been made with respect to any Plan. 
 (b) There are no pending or, to the best
knowledge of the Company, threatened claims, actions or lawsuits (other than routine benefit claims), or action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has
been no Prohibited Transaction with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect. 
  

 -4- 

 Exhibit 10 (eeee) 
  

 (c) Except where any of the following could not reasonably be expected to result in
liability in excess of $1,500,000, (i) no ERISA Event has occurred and is continuing or to the best knowledge of the Company is reasonably expected to occur; (ii) no Pension Plan has any Accumulated Funding Deficiency; (iii) neither
the Company nor any ERISA Affiliate has incurred, or to the best knowledge of the Company 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 Sections 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (iv) neither the Company nor any ERISA Affiliate has engaged in a transaction that could be subject to Sections 4069 or 4212(c) of ERISA.”

 (f) Section 6.03(c) of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
 “of the occurrence of any ERISA Event in connection with which liability could reasonably be expected to exceed $1,500,000;” 
 (g) Section 6.04 of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
 “Pay and discharge as the same shall become due and payable, all its obligations and liabilities, including (a) all tax liabilities,
assessments and governmental charges or levies upon it or its properties or assets in each case, to the extent such liabilities, assessments and charges or levies, individually or in the aggregate, are equal to or greater than $1,500,000, unless the
same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Company or such Subsidiary; (b) all lawful claims which, if unpaid, would by law
become a Lien upon its property in each case, to the extent such claims, individually or in the aggregate, are equal to or greater than $1,500,000; and (c) all Indebtedness the outstanding principal balance of which, individually or in the
aggregate, is equal to or greater than the Threshold Amount, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness.” 
 (h) Section 7.01(l) of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
 “Liens not otherwise permitted by the foregoing clauses of this Section 7.01 securing obligations in an aggregate principal amount (including
unmatured obligations) not to exceed $5,000,000 at any time outstanding.” 
 (i) Section 7.02(b) of the Credit Agreement is hereby
amended and restated to read in its entirety as follows: 
  

 -5- 

 Exhibit 10 (eeee) 
  

 “advances to officers, directors and employees of the Company and Subsidiaries for travel,
entertainment, relocation and analogous ordinary business purposes existing on the Closing Date and listed on Schedule 7.02(b), and any other advances to officers, directors and employees of the Company and its Subsidiaries for such purposes in an
aggregate amount (excluding the advances listed on Schedule 7.02(b)) not to exceed $1,000,000 at any time outstanding;” 
 (j)
Section 7.03(e) of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
 “Indebtedness in
respect of capital leases, Synthetic Lease Obligations, and purchase money obligations for fixed or capital assets in an aggregate amount not to exceed $25,000,000 at any time outstanding;” 
 (k) Section 7.03(i) of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
 “unsecured Indebtedness of the Borrowers in an aggregate principal amount (including amounts outstanding pursuant to Section 7.03(b) hereof)
not to exceed $75,000,000 at any time outstanding; provided that, (x) the Indebtedness outstanding pursuant to Section 7.03(b) hereof and up to $30,000,000 in the aggregate of additional Indebtedness may have a maturity date on or before
the Maturity Date; and (y) the balance of such Indebtedness (A) shall have a maturity date later than the Maturity Date and (B) is otherwise on terms reasonably acceptable to the Administrative Agent;” 
 (l) Section 7.03(j) of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
 “additional Indebtedness of Subsidiaries in an aggregate principal amount not to exceed $20,000,000 at any time outstanding;” 
 (m) Section 7.12 of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
 “Make or become legally obligated to make any Capital Expenditure (excluding normal replacements and maintenance which are properly charged to
current operations), except for capital expenditures in the ordinary course of business not exceeding, in the aggregate for the Company and its Subsidiaries during each fiscal year, $20,000,000. To the extent any portion of the amount of permitted
Capital Expenditures is not used in any fiscal year, such amount may be carried over to the next fiscal year, but in no event shall the aggregate amount of Capital Expenditures in any fiscal year, including such amount carried over, exceed
$40,000,000. In addition to the foregoing, the Company or any Subsidiary may make Capital Expenditures with the proceeds from the asset sales under Section 7.05 (Dispositions) and insurance and condemnation events, for the purpose of replacing
the related assets sold, lost or condemned.” 
 (n) Section 8.01(h) of the Credit Agreement is hereby amended and restated to read
in its entirety as follows: 
  

 -6- 

 Exhibit 10 (eeee) 
  

 “Judgments. Except for a judgment related to Permitted Environmental Obligation, there
is entered against the Company or any Subsidiary (i) a final non-appealable judgment or order 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 (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and, in either case,
(A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) any applicable statutory period during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect
under the laws of the applicable jurisdiction; or” 
 (o) Schedule 2.01 to the Credit Agreement is hereby deleted and replaced with
Schedule 2.01 attached to the Second Amendment. 
 (p) Exhibit E to the Credit Agreement is hereby deleted and replaced with Exhibit E
attached to the Second Amendment. 
 Section 2. Conditions of Effectiveness. This Second Amendment shall become effective as of
the date (the “Second Amendment Effective Date”) when: 
 (a) the Administrative Agent shall have received
(i) counterparts of this Second Amendment executed by each of the Borrowers, the Required Lenders and, acknowledged by the Administrative Agent and (ii) the Second Amendment Documents executed by the parties thereto; 
 (b) the Company shall have paid the Second Amendment Fees; 
 (c) the Administrative Agent shall have received a Secretary’s Certificate for each of the Borrowers: (i) attesting as to the incumbency of authorized officers; (ii) certifying that there have been no
changes in the certificate of incorporation or bylaws of the Borrowers, since the date of the Secretary’s Certificate delivered in connection with the execution and delivery of the Credit Agreement; and (ii) attaching true and correct
copies of (A) evidence of authorization of the Borrowers’ execution and full performance of this Second Amendment, the other Second Amendment Documents and all other documents and actions required hereunder; and (B) good standing
certificates from the jurisdictions of incorporation of each of the Borrowers (or in the case of any Dutch Borrower, an extract from the commercial register showing the existence of such Dutch Borrower) certifying to the due organization and good
standing of each of the Borrowers; 
 (d) the Administrative Agent shall have received a favorable opinion of Drinker Biddle & Reath
LLP, counsel to the domestic Borrowers, and Baker & McKenzie, counsel to the Foreign Obligors in form and substance reasonably acceptable to Administrative Agent and its counsel and addressed to Administrative Agent and each Lender;

 (e) the Company shall have paid all reasonable out-of-pocket costs and expenses (including the reasonable fees, charges and disbursements
of counsel to the Administrative Agent invoiced to the Company in reasonable detail) incurred in connection with this Second Amendment and invoiced prior to the time the condition in clause (a) above is satisfied; and 
  

 -7- 

 Exhibit 10 (eeee) 
  

 (f) no Default shall have occurred and be continuing, or would occur as a result of the transactions
contemplated by this Second Amendment. 
 Section 3. Representations and Warranties of the Borrowers. Each of the Borrowers
represents and warrants as follows: 
 (a) The execution, delivery and performance by each Borrower of the Second Amendment Documents, 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 under, or require any payment to be made under (i) any 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) 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) assuming each of the Lenders is a Professional Market Party, violate any Law. Each
Borrower and each Subsidiary thereof is in compliance with all Contractual Obligations referred to in clause (b)(i), except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 
 (b) The representations and warranties of (i) the Borrowers contained in Article V of the Credit Agreement and (ii) each Borrower contained in
each other Loan Document, shall be true and correct in all material respects on and as of the Second Amendment Effective 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, and except that for purposes of this Section 4.02, the representations and warranties contained in subsections (a) and (b) of Section 5.05 (Financial
Statements; No Material Adverse Effect; No Internal Control Event) shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 (Financial Statements). 
 (c) The Second Amendment Documents, when delivered hereunder, will have been, duly executed and delivered by each Borrower. The Second Amendment
Documents, when so delivered, will constitute, a legal, valid and binding obligation of such Borrower, enforceable against each Borrower in accordance with its terms, except to the extent that such enforceability may be limited by bankruptcy,
receivership, moratorium, conservatorship, or other laws of general application affecting the rights of creditors generally or by general principles of equity. 
 (d) The execution, delivery and performance of the Second Amendment Documents by each Borrower does not require the obtaining of any consent under any material agreement or instrument by which any Borrower or its
property may be bound. 
 (e) As of the Second Amendment Effective Date, after giving effect to this Second Amendment, no Default has
occurred and is continuing. 
  

 -8- 

 Exhibit 10 (eeee) 
  

 Section 4. Reference to and Effect on the Loan Documents. 
 (a) On and after the effectiveness of this Second Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“hereof” or words of like import referring to the Credit Agreement, and each reference in the Notes and each of the other Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of like
import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended by this Second Amendment Documents. 
 (b) Each Borrower hereby: (i) ratifies and affirms all the provisions of the Credit Agreement, as amended by the Second Amendment, and all the provisions of each of the other Loan Documents, as amended by the Second Amendment
Documents; and (ii) agrees that the terms and conditions of the Credit Agreement, as amended by the Second Amendment and all of the other Loan Documents, as amended by the Second Amendment Documents, shall continue in full force and effect as
supplemented and amended hereby. 
 (c) The execution, delivery and effectiveness of the Second Amendment Documents shall not, except as
expressly set forth herein, operate as a waiver of any right, power or remedy of any Lender or the Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents, or any right, power or remedy of the
Administrative Agent or the Lenders under the Loan Documents; nor shall same be construed as or shall operate as a course of conduct or course of dealing among the parties. 
 (d) All terms and provisions of this Second Amendment shall be for the benefit of and be binding upon and enforceable by the respective successors and
permitted assigns of the parties hereto. 
 Section 5. Execution in Counterparts. This Second Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed
counterpart of a signature page to this Second Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Second Amendment. 
 Section 6. GOVERNING LAW. THIS SECOND AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW IS OF THE COMMONWEALTH OF PENNSYLVANIA, WITHOUT REFERENCE TO ITS CONFLICTS OF LAW PRINCIPLES.

 [Signature pages follow] 
  

 -9- 

 Exhibit 10 (eeee) 
  

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

			
	QUAKER CHEMICAL CORPORATION
	 (a Pennsylvania corporation)

		
	 By:
	 	 /s/ Mark A. Featherstone

	 Name:
	 	Mark A. Featherstone
	 Title:
	 	Vice President, CFO & Treasurer
		
	 By:
	 	 /s/ D. Jeffry Benoliel

	 Name:
	 	D. Jeffry Benoliel
	 Title:
	 	Vice President, Secretary & General Counsel
	
	QUAKER CHEMICAL CORPORATION
	 (a Delaware corporation)

		
	 By:
	 	 /s/ Mark A. Featherstone

	 Name:
	 	Mark A. Featherstone
	 Title:
	 	Vice President, CFO & Treasurer
	
	EPMAR CORPORATION
		
	 By:
	 	 /s/ Craig E. Bush

	 Name:
	 	Craig E. Bush
	 Title:
	 	Vice President
	
	QUAKER CHEMICAL B.V.
		
	 By:
	 	 /s/ Mark A. Featherstone

	 Name:
	 	Mark A. Featherstone
	 Title:
	 	Attorney-in-Fact
	
	QUAKER CHEMICAL EUROPE B.V.
		
	 By:
	 	 /s/ Mark A. Featherstone

	 Name:
	 	Mark A. Featherstone
	 Title:
	 	Attorney-in-Fact
	
	 BANK OF AMERICA, N.A., as
 Administrative Agent

		
	 By:
	 	 /s/ Michael Strigel

	 Name:
	 	Michael Strigel
	 Title:
	 	Vice President

  

 (Signature Page to Second Amendment to Credit Agreement) 

 Exhibit 10 (eeee) 
  

			
	 BANK OF AMERICA, N.A., as a Lender, L/C Issuer

 and Swing Line Lender

		
	 By:
	 	 /s/ Michael Strigel

	 Name:
	 	Michael Strigel
	 Title:
	 	Vice President

  

 (Signature Page to Second Amendment to Credit Agreement) 

 Exhibit 10 (eeee) 
  

			
	PNC BANK, N.A.
		
	By:	 	 /s/ Forrest B. Patterson, Jr.

	Name:	 	Forrest B. Paterson, Jr.
	Title:	 	Senior Vice President

  

 (Signature Page to Second Amendment to Credit Agreement) 

 Exhibit 10 (eeee) 
  

			
	CITIZENS BANK OF PENNSYLVANIA
		
	By:	 	 /s/ Jonathan H. Sprogell

	Name:	 	Jonathan H. Sprogell
	Title:	 	Senior Vice President

  

 (Signature Page to Second Amendment to Credit Agreement) 

 Exhibit 10 (eeee) 
  

			
	NATIONAL CITY BANK
		
	By:	 	 /s/ Anne Marie F. Hughes

	Name:	 	Anne Marie F. Hughes
	Title:	 	Senior Vice President

  

 (Signature Page to Second Amendment to Credit Agreement) 

 Exhibit 10 (eeee) 
  

			
	ABN AMRO BANK N.V.
		
	By:	 	 /s/ George Dugan

	Name:	 	George Dugan
	Title:	 	Managing Director
		
	By:	 	 /s/ Patricia Christy

	Name:	 	Patricia Christy
	Title:	 	Director

  

 (Signature Page to Second Amendment to Credit Agreement) 

 Exhibit 10 (eeee) 
 SCHEDULE 2.01 
 COMMITMENTS 
 AND APPLICABLE PERCENTAGES 
  

							
	 Lender
	  	Commitment	  	Applicable
Percentage	 
	 Bank of America, N.A.
	  	$	43,750,000	  	35	%
			
	 ABN AMRO Bank N.V.
	  	$	31,250,000	  	25	%
			
	 PNC Bank, N.A.
	  	$	18,750,000	  	15	%
			
	 National City Bank
	  	$	18,750,000	  	15	%
			
	 Citizens Bank of Pennsylvania
	  	$	12,500,000	  	10	%
		  	 	 	  	 	 
	 Total
	  	$	125,000,000	  	100	%

  

 Schedule 2.01-1 

 Exhibit 10 (eeee) 
  
 EXHIBIT A 
 FORM OF AMENDED AND RESTATED NOTE 
  

			
	$                    	  	August     , 2007

 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 principal amount of each Loan from time to time made by the Lender to the Borrower under that certain Credit
Agreement, dated as of October 14, 2005, as amended by the First Amendment to Credit Agreement dated as of October 6, 2006 and the Second Amendment to Credit Agreement dated of August     , 2007 (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 Quaker Chemical Corporation, the Designated Borrowers from
time to time party thereto, the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The Borrower promises to pay interest on the unpaid principal amount of each 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 Administrative Agent for the account of the Lender in the currency
in which such Committed Loan was denominated and in Same Day Funds at the Administrative Agent’s Office for such currency. 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 Note is one of the 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. 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 Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. 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 Note and endorse thereon the date, amount, currency and maturity of its Loans
and payments with respect thereto. 
 This Amended and Restated Note constitutes the amendment and restatement of that certain Note dated as
of October 14, 2005, in the original principal amount of
$                                        
executed by Borrower in favor of Lender (the “Original Note”), and evidences all indebtedness previously advanced and unpaid under the Original Note. Nothing contained herein shall be deemed to constitute a novation, termination, waiver,
release, satisfaction, accord or accord and satisfaction of the Original Note or any indebtedness evidenced thereby. 
 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 Note. 
  

 Exhibit A-1 

 Exhibit 10 (eeee) 
  
 THIS AMENDED AND RESTATED NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF
PENNSYLVANIA. 
  

			
	[APPLICABLE DESIGNATED BORROWERS]
		
	 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

	
	[COMPANY]
		
	 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

  

 Exhibit A-2 

 Exhibit 10 (eeee) 
  
 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	 Date
	  	 Type of Loan
Made
	  	 Currency
and Amount
 of Loan
 Made
	  	 End of
 Interest
 Period
	  	 Amount of
Principal or
Interest Paid

This Date
	  	 Outstanding
Principal
Balance This
 Date
	  	 Notation
 Made By

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

	  
	  	  
	  	  
	  	  
	  	  
	  	  
	  	  

  

 Exhibit A-3 

 Exhibit 10 (eeee) 
 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 Administrative 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, the
Letters of Credit and the 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 right 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:
                                        
                     

  

	2.	Assignee:
                                        
                     [and is an Affiliate/Approved Fund of [identify Lender]1] 

  

	3.	Borrower(s): Quaker Chemical Corporation and the Designated Borrowers from time to time party to the Credit Agreement 

  

	4.	Administrative Agent: Bank of America, N.A., as the administrative agent under the Credit Agreement 

  

	5.	Credit Agreement: Credit Agreement, dated as of October 14, 2005, among Quaker Chemical Corporation, the Designated Borrowers from time to time party thereto, the
Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender 

	1	Select as applicable. 

  

 Exhibit E-1 

 Exhibit 10 (eeee) 
  

	6.	Assigned Interest: 

  

									
	 Facility Assigned
	  	 Aggregate
 Amount of
 Commitment
 for all Lenders*
	  	 Amount of
 Commitment
 Assigned*
	  	 Percentage
 Assigned of
 Commitment2
	  	 CUSIP Number

	  
	  	$                                	  	$                                	  	                                %	  	  

	  
	  	$                                	  	$                                	  	                                %	  	  

	  
	  	$                                	  	$                                	  	                                %	  	  

  

	[7.	Trade Date:
                                        ]
3 

 Effective Date:
                            , 20     [TO BE INSERTED BY ADMINISTRATIVE
AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

	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. 

  

 Exhibit E-2 

 Exhibit 10 (eeee) 
  
 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] Accepted:	 		 	
				
	BANK OF AMERICA, N.A., as Administrative Agent	 		  		 	
					
	By:	 	  
	 		  		 	
	Title:	 		 		  		 	
				
	[Consented to:]4	 		  		 	
				
	QUAKER CHEMICAL CORPORATION	 		  		 	
					
	By:	 	  
	 		  		 	
	Title:	 		 		  		 	

	 4
	 To be added only if the consent of the Company and/or other parties (e.g. Swing
Line Lender, L/C Issuer) is required by the terms of the Credit Agreement. 

  

 Exhibit E-3 

 Exhibit 10 (eeee) 
 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 
 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 and (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 (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 or any collateral thereunder, (iii) the financial condition of the Company, any of its
Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Company, 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 all requirements of an
Eligible Assignee under the Credit Agreement (subject to receipt of such consents as may be required under the Credit Agreement), (iii)(A) it is a Professional Market Party, and (B) it is aware that a Dutch Borrower may be in breach of Dutch
Laws and regulations if the representation and warranty under (iii)(A) were to be untrue, and (iv) 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, (v) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 6.01 thereof, as
applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such
analysis and decision independently and without reliance on the Administrative Agent or any other Lender, and (vi) if it is a Foreign Lender, 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 the Administrative 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
Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the
Assignee for amounts which have accrued from and after the Effective Date. 
  

 Exhibit E-4 

 Exhibit 10 (eeee) 
  
 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
Commonwealth of Pennsylvania. 
  

 Exhibit E-5

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