Document:

Harold M. Karp Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This EMPLOYMENT AGREEMENT (“Agreement”) dated as of
                    , 2007 and effective as of February 16, 2007 (the “Effective Date”) by and between Harold M. Karp
(“Executive”) and Wolverine Tube, Inc., a Delaware corporation (“Wolverine”). 
 WHEREAS, Wolverine desires to
employ Executive as President and Chief Operating Officer and Executive desires to be employed by Wolverine in such capacities upon the terms and condition set forth in this Agreement; and 
 WHEREAS, Executive acknowledges that, in executing this Agreement, he has had a reasonable opportunity to seek the advice of independent legal and
tax counsel, and has read and understood all of the terms and provisions of this Agreement. 
 NOW, THEREFORE, in consideration of the
mutual promises and covenants contains herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Title; Duties; Reporting. 
 (a) Title. Wolverine hereby employs Executive, and Executive agrees to be employed, as President and Chief Operating Officer of Wolverine at its headquarters in Huntsville, Alabama or at such other location as may be the
Wolverine’s headquarters in the future, according to the terms and conditions set forth herein. 
 (b) Duties.
Executive will be responsible for the day to day operations of Wolverine, including the development and execution of an annual operating plan, capital expenditures programs, implementation of operational and plant consolidations, restructuring and
activities related thereto and such other tasks, duties, and responsibilities as may be established from time to time by the Board of Directors of Wolverine (the “Board of Directors”) and/or the Chief Executive Officer of Wolverine
(“CEO”). Executive agrees to devote all or substantially all of his full business time, energy and skill in the performance of his duties to Wolverine and to perform faithfully and efficiently such duties. 
 (c) Reporting Responsibilities. Executive shall report directly to the CEO; however, until that position is filled, and at all
other times during which the position of CEO is vacant, Executive shall report to the Chairman of the Board of Directors. All of Wolverine’s significant operating personnel and business managers will report directly or indirectly to Executive
until the CEO position is filled and at all other times during which the position of CEO is vacant. 
 2. Employment Term. The
Executive’s term of employment under this Agreement shall commence on the Effective Date and continue until terminated by either party as provided herein (the “Employment Term”). 
 3. Salary and Benefits. During the Employment Term, Wolverine shall provide the following salary and benefits to Executive: 
 (a) Relocation Benefits. Wolverine will provide the Executive with full relocation benefits and reimbursement of expenses in order
to transition and transfer Executive from 

 
his current residence in Ft. Wayne, Indiana to Huntsville, Alabama in accordance with Wolverine’s policies and practices applicable generally to other
peer executives of Wolverine. If, during the Employment Term, Executive is required by Wolverine to relocate again, Executive will be provided with full relocation benefits and reimbursement of expenses in accordance with Wolverine’s then
current policies and practices generally applicable to other peer executives of Wolverine; provided, however, that in no event shall the relocation benefits and reimbursement of expenses be less than that provided to the Executive in connection with
his transition and transfer to Huntsville, Alabama as described above. 
 (b) Base Compensation. Wolverine shall pay
Executive an annual base salary (“Base Salary”), payable in substantially equal installments in accordance with Wolverine’s normal payroll practices, as follows: 
 (i) During the first calendar year of the Employment Term, which shall begin on the Effective Date and end on December 31, 2007, the
Base Salary shall be equal to an annualized rate of no less than $325,000.00. 
 (ii) During the second calendar year of the
Employment Term, which shall begin on January 1, 2008 and end on December 31, 2008, the Base Salary shall be equal to an annualized rate of no less than $335,000.00. 
 (iii) During the third calendar year of the Employment Term, which shall begin on January 1, 2009 and end on December 31, 2009,
and thereafter, the Base Salary shall be equal to an annualized rate of no less than $350,000.00 or such higher annualized rate as may from time to time be determined by the Board of Directors or its authorized committee. 
 (c) Annual Bonus. In addition to the Base Salary, Executive will be eligible to receive an annual cash bonus (“Annual
Bonus”) with a target of 60% of the Executive’s Base Salary for the year in which the Annual Bonus relates based upon achievement of certain operating and financial performance measures and criteria such as EBITDA, EPS, net cash flows,
return on investment and/or other discretionary factors, in accordance with and as set forth in Wolverine’s annual incentive program. 
 (d) Long Term Equity Incentive. As an additional component of Executive’s compensation, Executive was previously awarded an option to purchase 700,000 shares of Wolverine common stock in accordance with
the terms and conditions of the Wolverine Tube, Inc. 2007 Nonqualified Stock Option Plan and as may be in effect from time to time. 
 (e) Welfare, Retirement and Fringe Benefits. 
 (i) Executive shall be eligible for participation in and shall
receive all benefits under welfare benefit plans, practices, policies and programs provided by Wolverine (including, without limitation, medical, prescription, dental and salary continuance) to the extent applicable generally to other peer
executives of Wolverine. 
 (ii) Executive shall be entitled to participate in all incentive, savings and retirement plans,
practices, policies and programs applicable generally to other peer executives of Wolverine. 
  

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 (iii) Executive will be provided certain fringe benefits. These fringe benefits will
include but not be limited to: (A) a cash car allowance of $1,000.00 per month; (B) reimbursement for expenses incurred by Executive for preparation of state and federal income tax returns; (C) professional tax and financial planning
services, including specific services related to Executive’s relocation to Huntsville, Alabama; (D) life insurance, disability insurance and individual long-term care insurance; and (E) four weeks’ of paid vacation, any unused
portion of which shall be forfeited at the end of the year in accordance with Wolverine’s policies. 
 (f)
Reimbursement of Business Expenses. Wolverine shall reimburse Executive for all out-of-pocket business expenses incurred by Executive in the course of his duties, in accordance with Wolverine’s policies as in effect from time to time.
Executive shall be required to submit to Wolverine appropriate documentation supporting such out-of-pocket business expenses as a prerequisite to reimbursement in accordance with such policies. 
 4. Termination Provisions. 
 (a) Termination by Wolverine for Cause or by Executive without Good Reason. Wolverine may terminate Executive’s employment immediately for Cause (as defined in Section 6(a) below) and Executive may terminate his employment
without Good Reason (as defined in Section 6(b) below) upon providing Wolverine at least ninety (90) days advance written notice. Upon such termination, Wolverine shall provide Executive with the following: (i) severance benefits, if
any, as provided under Wolverine’s general procedures and practices; (ii) payment of the pro rata portion of the Base Salary through and including the date of termination; and (iii) such employee benefits as may be due the Executive
pursuant to the provisions of the benefit plans which govern such issues (the payments and benefits referred to in (ii) and (iii) above shall be collectively referred to as the “Accrued Obligations”). 
 (b) Termination by Wolverine without Cause. Wolverine may terminate Executive’s employment without Cause upon one hundred
twenty (120) days prior written notice to the Executive. Upon such termination, Wolverine shall provide Executive with the following: 
 (i) A lump sum cash severance payment within thirty (30) days after the effective date of such termination in an amount equal to the sum of (A) Executive’s then current Base Salary and
(B) Executive’s Annual Bonus paid or payable for the calendar year immediately preceding the year of termination but in no event less than 60% of Executive’s then current Base Salary. 
 (ii) All stock options granted by Wolverine and held by Executive as of the effective date of such termination, to the extent not already
vested, shall become vested to the next succeeding vest date set forth in the award agreement and plan governing such option. 
 (iii) Health insurance benefits for a period of two years following the effective date of such termination under the same or similar arrangement(s) and plan(s) as Executive’s health insurance arrangement(s) and plan(s) in effect at the
time of such termination. 
 (iv) The Accrued Obligations. 
  

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 (c) Termination by Executive for Good Reason. Executive may terminate his
employment for Good Reason upon providing Wolverine at least ninety (90) days advance written notice. Upon such termination, Wolverine shall provide Executive with the following: 
 (i) A lump sum cash severance payment within thirty (30) days after the effective date of such termination in an amount equal to the
sum of (A) two times Executive’s then current Base Salary or the Base Salary in effect immediately prior to the Change in Control, if greater and (B) two times Executive’s Annual Bonus paid or payable for the calendar year
immediately preceding the year of the Change of Control but in no event less than 60% of Executive’s then current Base Salary. 
 (ii) Subject to Section 7 below, all stock options granted by Wolverine and held by Executive as of the date of such termination, to the extent not already vested by their terms, shall become immediately vested and exercisable as of
the effective date of such termination. The value, if any, attributable to the acceleration of vesting of such stock options that constitutes a parachute payment to Executive under Sections 208G or 4999 of the Internal Revenue Code of 1986, as
amended (the “Code”), as determined under Section 7 of this Agreement is referred to herein as the “Option Parachute Value.” 
 (iii) Health insurance benefits for a period of two years following the effective date of such termination under the same or similar arrangement(s) and plan(s) as Executive’s health insurance arrangement(s) and
plan(s) in effect at the time of such termination. 
 (iv) The Accrued Obligations. 
 (d) Death or Disability. Wolverine may terminate Executive’s employment due to Executive’s death or disability (if and
only to the extent Executive is eligible for benefits under Wolverine’s group long-term disability plan or would be eligible for such benefits were Executive a participant in said plan). Upon such termination, Wolverine shall provide Executive
with the following: (i) severance benefits, if any, as provided under Wolverine’s general procedures and practices and (ii) the Accrued Obligations. 
 (e) Limits. Wolverine’s obligation to make to make any payments to Executive upon termination of Executive without Cause or
for Good Reason as described in Sections 4(b) and 4(c) respectively (other than the Accrued Obligations) is contingent upon the effectiveness of Executive’s execution of a Waiver and Release of Claims substantially in the form attached hereto
as Appendix B (the “Release”). On any termination entitling Executive to the payments and benefits under Sections 4(b) or 4(c), Wolverine and its affiliates shall have no further obligation to make payments under this Agreement other than
as specifically provided for in Sections 4(b) or 4(c), and Executive shall not be eligible to receive any other severance benefits under any severance or termination plan, program, policy or arrangement maintained by Wolverine or its affiliates.

 5. Secrecy, Non-Solicitation and Non-Competition. 
 (a) Secrecy. During the Employment Term and thereafter, the Executive covenants and agrees that he will not, except in performance
of the Executive’s obligations to Wolverine, or with the prior written consent of Wolverine pursuant to the authority granted by a resolution of the Board of Directors, directly or indirectly, disclose any secret or confidential information
that he may learn or has learned by reason of his association with Wolverine or use any 

  

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such information. The term “secret or confidential information” includes, without limitation, information not previously disclosed to the public or
to the trade by Wolverine’s management with respect to Wolverine’s products, facilities and methods, trade secrets and other intellectual property, systems, procedures, manuals, confidential reports, products price lists, customer lists,
financial information (including the revenues, costs or profits associated with any of Wolverine’s products), business plans, prospects, employee or employees, compensation, or opportunities but shall exclude any information already in the
public domain which has been disclosed to the public during the normal course of Wolverine’s business. 
 (b) Customer
Protection. During the Employment Term and for a period of one (1) year following the termination of the Executive’s employment for any reason, the Executive covenants and agrees that he will not solicit or attempt to solicit any
business from Wolverine’s customers, including actively sought prospective customers, with whom the Executive had Material Contact during his employment, for the purpose of providing products or services competitive with those provided by
Wolverine. Material Contacts exist between the Executive and each customer or prospective customers with whom Wolverine were coordinated or supervised by the Executive, or about whom the Executive obtained trade secrets or confidential information
as a result of the Executive’s association with Wolverine. 
 (c) Non-solicitation of Employees. During the
Employment Term and for a period of one (1) year following the termination of the Executive’s employment for any reason, the Executive covenants and agrees that he shall not directly or indirectly, on his behalf or on behalf of any person
or other entity; solicit or induce, or attempt to solicit or induce, any person who, on the date hereof or at anytime during the Employment Term, is an employee of Wolverine, to terminate his or her employment with Wolverine, whether expressed in a
written or oral agreement or understanding or is otherwise an “at-will” employee. 
 (d) Noncompetition.
During the Employment Term and for a period of one (1) year following the termination of the Executive’s employment for any reason, the Executive covenants and agrees that he will not, directly or indirectly, compete against Wolverine
within the United States in any capacity for another company or entity that designs, produces, sells, or distributes copper tubing, including, but not limited to, those companies listed on Appendix A hereto. 
 In consideration of the promises of Executive contained in this Agreement, including without limitation in this Paragraph 5(d), in the
event the Executive’s employment is terminated by Wolverine without Cause or if the Executive terminates his employment for Good Reason, Wolverine shall pay to the Executive, a non-compete and non-solicitation fee equal to one
(1) year’s Base Salary and Annual Bonus as determined and payable in accordance with Section 4(b)(i) above if such termination is by Wolverine without Cause or in accordance with Section 4(c)(i) above if such termination is by
Executive for Good Reason. The non-compete and non-solicitation fee payable to Executive pursuant to this Section 5(d) shall be in addition to any amounts Executive may be entitled to receive pursuant to Sections 4(b) and 4(c). 
 (e) Equitable Relief. Executive acknowledges and agrees that the services performed by him are special, unique and extraordinary in
that, by reason of the Executive’s employment, the Executive may acquire confidential information and trade secrets concerning the operation of Wolverine, or that the Executive may have contact with or obtain knowledge of Wolverine’s
customers or prospects, the use or disclosure of which could cause Wolverine substantial loss and damages, which could not be readily calculated and for which no remedy at law 

  

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would be adequate. Accordingly, the Executive acknowledges and agrees that Wolverine shall be entitled to obtain a temporary restraining order and/or a
preliminary or permanent injunction restraining the Executive from engaging in activities prohibited by this Section 5 or such other relief as may be required to specifically enforce any of the covenants in this Section 5. The Executive
acknowledges and agrees that Wolverine shall be entitled to its attorneys’ fees and court costs should Wolverine pursue legal action to enforce its rights under this Section 5. 
 (f) Survival. Any termination of Executive’s employment, of the Employment Term or of this Agreement (or breach of this
Agreement by Wolverine or Executive) shall have no effect on the continuing operation of this Section 5. 
 6. Definitions.

 (a) Definition of Cause. For purposes of this Agreement, termination for Cause shall mean termination of
Executive’s employment by Wolverine because of: (i) a material breach by Executive of his fiduciary duties to Wolverine; (ii) Executive’s failure or refusal to follow the Wolverine’s written policies after being given
written notice of said failure or refusal and failing to rectify same within 30 days; (iii) Executive’s conviction of (and should Executive appeal said conviction, full adjudication of said conviction), or plea of guilty, to a felony;
and/or (iv) Executive’s continuing and willful refusal to act as directed by the CEO or Chairman of the Board of Directors (other than refusal resulting from incapacity due to physical or mental illness), after written notice is delivered
to Executive by the CEO or Chairman of the Board of Directors which specifically identifies said refusal and sets forth a plan of corrective action. 
 Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Cause hereunder unless and until there shall have been delivered to the Executive a termination notice from the Board of
Directors that (x) states the Executive is being terminated for Cause, (y) indicates the subsection of this definition Wolverine is relying on and (z) provides reasonable detail of the facts providing the basis for that reliance and
during a reasonable period to cure thereafter (at least 30 days) Executive has failed to cure in all material respects any default or other circumstance upon which the termination for Cause is proposed to be based. Such determination may only be
made by the Board of Directors and Executive shall be permitted to respond and defend himself before the Board of Directors with legal counsel. The failure by Wolverine to include any fact in a termination notice that contributes to a showing of
Cause does not preclude Wolverine from asserting that fact in enforcing its rights under this Agreement. 
 (b) Definition
of Good Reason. For purposes of this agreement, Good Reason shall mean termination of Executive’s employment by Executive following the occurrence of a Change in Control, and of the occurrence within not later than two years following such
Change in Control of: (i) a material diminution of Executive’s Base Salary in effect immediately prior to the Change in Control; (ii) a material diminution in Executive’s authority, duties or responsibilities in effect
immediately prior to the Change in Control; (iii) a relocation of the Executive’s principal place of employment to a location outside the United States without the Executive’s prior written consent; and/or (iv) any other action
or inaction that constitutes a material breach by Wolverine of this Agreement. 
 Notwithstanding the foregoing, Executive
shall not been deemed to have terminated his employment for Good Reason hereunder unless Executive shall have delivered to Wolverine a termination notice within thirty (30) days of the initial existence of the condition giving rise to Good

  

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Reason that (x) states the Executive is terminating his employment for Good Reason, (y) indicates the subsection of this definition that Executive
is relying on and (y) provides reasonable detail of the facts providing the basis for that reliance and during a reasonable period to cure thereafter (at least 30 days) Wolverine has failed to cure in all material respects any default or other
circumstance upon which the termination for Good Reason is proposed to be based. The failure by Executive to include any fact in a termination notice that contributes to a showing of Good Reason does not preclude Executive from asserting that fact
in enforcing his rights under this Agreement. 
 (c) Definition of Change of Control. For purposes of this Agreement,
Change of Control shall mean: 
 (i) The acquisition by any individual, entity or group (within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more
of either (A) the then outstanding shares of common stock of Wolverine (the “Outstanding Wolverine Common Stock”) or (B) the combined voting power of the then outstanding voting securities of Wolverine entitled to vote generally
in the election of directors (the “Outstanding Wolverine Voting Securities”); provided, however, that the following acquisitions shall not constitute a Change of Control: (w) any acquisition directly from Wolverine (excluding an
acquisition by virtue of the exercise of a conversion privilege), (x) any acquisition by Wolverine or any entity controlled by Wolverine or under common control with Wolverine, (y) any acquisition by any employee benefit plan (or related
trust) sponsored or maintained by Wolverine or any corporation controlled by Wolverine, (z) any acquisition by any corporation pursuant to a reorganization, merger or consolidation, if, following such reorganization, merger or consolidation,
the conditions described in clauses (A), (B) and (C) of Section 6(c)(iii) below are satisfied; or 
 (ii)
Individuals who, as of the date hereof, constitute the Board of Directors (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board of Directors; provided, however, that any individual becoming a director
subsequent to the date hereof whose election, or nomination for election by Wolverine’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors; or 
 (iii) Consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving Wolverine or any of its subsidiaries, a sale or other disposition of all or
substantially all of the assets of Wolverine, or the acquisition of assets or stock of another entity by Wolverine or any of its subsidiaries (each, a “Business Combination”), in each case, unless, following such Business Combination,
(A) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Wolverine Common Stock and the Outstanding Wolverine Voting Securities immediately prior to such Business Combination beneficially
own, directly or indirectly, more than 50% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the
corporation resulting from such Business Combination (including, without limitation, a corporation that, as a result of such 

  

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transaction, owns Wolverine or all or substantially all of Wolverine’s assets either directly or through one or more subsidiaries) in substantially the
same proportions as their ownership immediately prior to such Business Combination of the Outstanding Wolverine Common Stock and the Outstanding Wolverine Voting Securities, as the case may be, (B) no Person (excluding any corporation resulting
from such Business Combination or any employee benefit plan (or related trust) of Wolverine or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then-outstanding
shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to the Business
Combination, and (C) at least a majority of the members of the board of directors of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the
action of the Board of Directors providing for such Business Combination; or 
 (iv) Approval by the shareholders of Wolverine
of a complete liquidation or dissolution of Wolverine. 
 (v) Notwithstanding anything herein to the contrary, any Business
Combination or any acquisition by any Person of beneficial ownership of Outstanding Wolverine Common Stock or Outstanding Wolverine Voting Securities in which the acquiring Person is, directly or indirectly, The Alpine Group, Inc., Plainfield
Special Situations Master Fund Limited or any affiliate(s) thereof (or any combination thereof) or any Person acting in concert with The Alpine Group, Inc., Plainfield Special Situations Master Fund Limited or any affiliate(s) thereof (or any
combination thereof) shall not be a Change of Control for purposes of this Agreement. 
 7. Golden Parachute Considerations. In the
event it shall be determined that the amount of any payments and/or benefits provided to Executive pursuant to the terms of this Agreement or otherwise would be subject to the excise tax imposed by Section 4999 of the Code or to any similar tax
imposed by federal, state or local law, or any other revenue system to which Executive may be subject (the “Excise Tax”), then, the Option Parachute Value shall be reduced (partially or completely) such that the amount of any such payments
and/or benefits shall be reduced to an amount that is equal to 299% of the Executive’s “base amount” as determined in accordance with Section 280G of the Code. If, after the reduction of the Option Parachute Value, the amount of
any other payments and/or benefits provided to Executive pursuant to the terms of this Agreement or otherwise would still be subject to the Excise Tax, then the amount of such other payments and/or benefits shall also be reduced such that the amount
of all such payments or benefits are reduced to an amount that is equal to 299% of the Executive’s “base amount” as determined above. 
 8. Section 409A. To the extent required to comply with Section 409A of the Code (and the regulations thereunder), any compensation to be paid or benefits to be provided in connection with
Executive’s termination of employment will be delayed until the earliest day on which such payments could be made or benefits provided in compliance (at which point all payments so-delayed shall be provided in one lump sum), provided that there
shall not be a lapse in health insurance coverage that may be required to be continued pursuant to the terms and conditions of Sections 4(b) and (c). Any expenses reimbursed to the Executive pursuant to this Agreement which are includible in the
Executive’s taxable income shall be made in accordance with the terms and conditions of such plans and arrangements governing such reimbursement; provided however, that in no event shall the reimbursement be made later than the end of the
calendar year following the year in which the expense is incurred by Executive. Any right to reimbursement of Executive pursuant to this 

  

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Agreement cannot be exchanged for the right to cash or any other benefit and the reimbursements provided to the Executive shall be made without regard to
such reimbursable expenses incurred by Executive on a year to year basis. 
 9. Governing Law. This Agreement is made and entered into
in the State of Alabama, without regard to conflict of laws rules, and the laws of Alabama shall govern its validity and interpretation in the performance by the parties of their respective duties and obligations. 
 10. Entire Agreement. This Agreement constitutes the entire agreement between the parties concerning the employment of Executive and any prior
written or unwritten agreements relating to the subject matter hereof and there are no representations, warranties or commitments, other than those in writing executed by all of the parties. 
 11. Arbitration. Except as otherwise expressly provided herein, any dispute, controversy, or claim arising out of or relating to this Agreement or
breach thereof, or arising out of or relating in any way to the employment of Executive or the termination thereof, shall be submitted to binding arbitration in accordance with the Voluntary Labor Arbitration Rules of the American Arbitration
Association. Judgment upon the award rendered by the arbitrator may be entered in any court of competent jurisdiction. In reaching his or her decision, the arbitrator shall have no authority to ignore, change, modify, add to or delete from any
provision of this Agreement, but instead is limited to interpreting this Agreement. 
 12. Assistance in Litigation. Executive shall
make himself available, upon the request of Wolverine, to testify or otherwise assist in litigation, arbitration, or other disputes involving Wolverine, or any of the directors, officers, executives, subsidiaries, or parent corporations of either,
at no additional cost during the Employment Term and at any time following the termination of Executive’s employment for any reason; provided however, in the event such request is made by Wolverine after the Employment Term Executive shall be
reimbursed for any reasonable out-of-pocket expenses incurred with respect thereto and shall also be paid a reasonable daily stipend as mutually agreed upon by the parties hereto. 
 13. Notices. Any notice or communication required or permitted to be given to the parties shall be delivered personally or sent by registered or
certified mail, postage prepaid and return receipt requested, and addressed or delivered as follows, or to such other address as the party addressed may have substituted by notice pursuant to this Section. 
  

	 	(a)	If to Wolverine: 

 Wolverine Tube, Inc. 
 200 Clinton Avenue, Suite 1000 
 Huntsville,
Alabama 35801 
 Attention: Corporate Secretary 
  

	 	(b)	If to Executive, to his address currently on file with Wolverine. 

 14. Binding Agreement. This Agreement shall inure to the benefit of and be enforceable by Executive and his personal or legal representatives, executors, administrators, successors, heirs, distributees, devises and
legatees. This Agreement shall inure to the benefit of and be enforceable by 

  

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Wolverine and any of its successors and assigns. Wolverine will require any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business and/or assets of Wolverine to assume expressly and agree to satisfy all of the obligations under this Agreement in the same manner and to the same extent that Wolverine would be required to
satisfy such obligations if no such succession had taken place. As used in this Agreement, “Wolverine” shall mean “Wolverine” as hereinbefore defined and any successor to its respective businesses and/or assets as aforesaid which
assumes and agrees to perform this Agreement by operation of law or otherwise. 
 15. No Mitigation of Amounts Payable Hereunder.
Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor shall the amount of any payment provided for in this Agreement be reduced by any compensation earned
by Executive as the result of employment by another employer after the date of termination, or otherwise. Wolverine’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be
affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which Wolverine may have against Executive. 
 16.
Amendment. This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives. 
 16. Construction. This Agreement shall not be construed against any party by reason of the drafting or preparation hereof. 
 17. Captions. The captions of this Agreement are inserted for convenience and are not part of the Agreement. 
 18. Severability. In case any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid, illegal, or
unenforceable in any other respect, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement. This Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been a
part of the Agreement and there shall be deemed substituted therefore such other provision as will most nearly accomplish the intent of the parties to the extent permitted by the applicable law. 
 19. Survivorship. Upon the expiration or other termination of this Agreement or termination of Executive’s employment for any reason, the
respective rights and obligations of the parties hereto shall survive such expiration or other termination to the extent necessary to carry out the intentions of the parties under this Agreement. 
 20. Withholding. Wolverine may withhold from any amounts payable under this Agreement such Federal, state or local taxes as shall be required to
be withheld pursuant to any applicable law or regulation. 
 21. Counterparts. This Agreement may be executed simultaneously in two or
more counterparts, each of which shall be deemed an original, but all of which shall together constitute one in the same Agreement. 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the dates set forth below.

  

									
	WOLVERINE:	 		 	EXECUTIVE:
					
	By:	 	  	 		 	By:	 	  
		 	Steven S. Elbaum	 		 		 	Harold M. Karp
		 	Chairman of the Board of Directors	 		 		 	
	Date:	 	  	 		 	Date:	 	  

  

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 APPENDIX A 
  

	1.	Cerro Copper Products Company, Inc. 

  

	2.	Luvata 

  

	3.	Industrias Nacobre S.A. de C.V. 

  

	4.	Golden Dragon 

  

	5.	Mueller Industries, Inc. 

  

	6.	Kobe Copper Products, Inc. 

  

	7.	National Copper 

  

	8.	Wieland 

  

	9.	Hitachi, Ltd. 

  

	10.	Trefimetaux 

  

	11.	Reading Tube Corporation 

  

	12.	IUSA 

  

	13.	NIBCO 

  

	14.	High Performance Tube 

  

	15.	Commercial Metals Company 

  

	16.	Lucas Milhaupt 

  

	17.	J.W. Harris/Lincoln Electric 

 Reference to the above companies shall
incorporate related companies thereto, including, but not limited to, all parent companies, subsidiary companies, majority-owned companies and joint ventures. 
  

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 APPENDIX B 
 Release 
 For and in consideration of the payments and other benefits described in the employment
agreement dated as of             , 2007 (the “Agreement”) between Wolverine Tube, Inc., a Delaware corporation (the “Company”) and Harold M. Karp (the
“Executive”) and for other good and valuable consideration, Executive hereby releases the Company, its divisions, affiliates, subsidiaries, parents, branches, predecessors, successors, assigns, officers, directors, trustees,
employees, agents, shareholders, administrators, representatives, attorneys, insurers and fiduciaries, past, present and future (the “Released Parties”) from any and all claims of any kind arising out of, or related to, his
employment with the Company, its affiliates and subsidiaries (collectively, with the Company, the “Affiliated Entities”), his separation from employment with the Affiliated Entities or derivative of Executive’s employment,
which Executive now has or may have against the Released Parties, whether known or unknown to Executive, by reason of facts which have occurred on or prior to the date that Executive has signed this Release. Such released claims include, without
limitation, any and all claims under federal, state or local laws pertaining to employment, including, without limitation, the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C.
Section 2000e et. seq., the Fair Labor Standards Act, as amended, 29 U.S.C. Section 201 et. seq., the Americans with Disabilities Act, as amended, 42 U.S.C. Section 12101 et. seq. the Reconstruction Era
Civil Rights Act, as amended, 42 U.S.C. Section 1981 et. seq., the Rehabilitation Act of 1973, as amended, 29 U.S.C. Section 701 et. seq., the Family and Medical Leave Act of 1992, 29 U.S.C. Section 2601
et. seq., and any and all state or local laws regarding employment discrimination and/or federal, state or local laws of any type or description regarding employment, including but not limited to any claims arising from or derivative of
Executive’s employment with the Affiliated Entities, as well as any and all claims under state contract or tort law. 
 Executive has
read this Release carefully, acknowledges that Executive has been given at least 21 days to consider all of its terms and has been advised to consult with any attorney and any other advisors of Executive’s choice prior to executing this
Release, and Executive fully understands that by signing below Executive is voluntarily giving up any right which Executive may have to sue or bring any other claims against the Released Parties, including any rights and claims under the Age
Discrimination in Employment Act. Executive also understands that Executive has a period of seven days after signing this Release within which to revoke his agreement, and that the Company or any other person is obligated to make any payments to
Executive pursuant to Sections 4(b) or 4(c) of the Agreement until eight days have passed since Executive’s signing of this Release without Executive’s signature having been revoked (other than the Accrued Obligations as defined in the
Agreement). Finally, Executive has not been forced or pressured in any manner whatsoever to sign this Release, and Executive agrees to all of its terms voluntarily. 
 Notwithstanding anything else herein to the contrary, this Release shall not affect: the obligations of Wolverine set forth in the Agreement or other obligations to pay vested and earned benefits that, in each case,
by their terms, are to be performed after the date hereof by Wolverine (including, without limitation, obligations to Executive under any qualified or non-qualified retirement plan or other benefit or deferred compensation plan, all of which shall
remain in effect in accordance with their terms); obligations to indemnify Executive respecting acts or omissions in connection with Executive’s service as an officer or employee of the Affiliated Entities; or any right Executive may have to
obtain contribution in the event of the entry of judgment against Executive as a result of any act or failure to act for which both Executive and any of the Affiliated Entities are jointly responsible. 
 This Release is final and binding and may not be changed or modified except in a writing signed by both parties. 
  

					
			
	   	 		 	   
	Date	 		 	

  

 13Form of Stock Option Agreement

 Exhibit 4.5 
 SHARPER IMAGE CORPORATION 
 FORM OF STOCK OPTION AGREEMENT 
 RECITALS 
 A. The Board of Directors of the
Corporation has adopted the 2000 Stock Incentive Plan (as amended from to time, the “Plan”) for the purpose of attracting and retaining the services of selected key employees (including officers and directors), non-employee members
of the Board of Directors, consultants and other independent contractors. 
 B. Optionee is an individual who has rendered or is to render
valuable services to the Corporation or its parent or subsidiary corporations, and this Stock Option Agreement (this “Agreement”) is delivered pursuant to, and is intended to carry out the purposes of, the Plan in connection with
the Corporation’s grant of a stock option to Optionee. 
 NOW, THEREFORE, it is hereby agreed as follows: 
 1. Grant of Option. Subject to and upon the terms and conditions set forth in this Agreement, the Corporation hereby grants to Optionee, as of the
grant date (the “Grant Date”) specified in the accompanying Notice of Grant of Stock Options (the “Grant Notice”), a stock option to purchase up to that number of shares of the Corporation’s Common Stock (the
“Optioned Shares”) as is specified in the Grant Notice. The Optioned Shares shall be purchasable during the option term at the option price per share (the “Option Price”) specified in the Grant Notice. Terms used
but not defined herein shall have the meanings given in the Plan. 
 2. Option Term. This option shall have a maximum term of ten
years measured from the Grant Date and shall accordingly expire at the closing of business on the expiration date (the “Expiration Date”) specified in the Grant Notice, unless sooner terminated in accordance with the terms of this
Agreement. 
 3. Option Nontransferable: Exception. This option shall be neither transferable nor assignable by Optionee except as set
forth in Article Two, Section I, Paragraph F of the Plan, and only if permitted by the Plan Administrator. Optionee may also designate one or more persons to be the beneficiary or beneficiaries of this option upon Optionee’s death. Any such
beneficiary or permitted transferee shall take this option subject to all the terms and conditions of this Agreement and the Plan. 
 4.
Dates of Exercise. This option shall become exercisable for the Optioned Shares in one or more installments as is specified in the vesting or exercise schedule set forth in the Grant Notice, subject to Optionee’s continued Service on the
applicable vesting. Unless otherwise expressly stated in the Grant Notice, no portion of this option may be exercised prior to its vesting date. As the option becomes exercisable in one or more installments, the installments shall accumulate and the
option shall remain exercisable for such installments until the Expiration Date or the sooner termination of the option term as provided in this Agreement. 
  

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 5. Accelerated Termination of Option Term. The option term specified in Paragraph 2 shall
terminate (and this option shall cease to be exercisable) prior to the Expiration Date should one of the following provisions become applicable: 
 (a) Except as otherwise provided in subparagraph (b) or (c) below, should Optionee cease to remain in Service while this option is outstanding, then the period for exercising this option shall be reduced to
a three (3)-month period commencing with the date of such cessation of Service, but in no event shall this option be exercisable at any time after the Expiration Date. Upon the expiration of such three (3)-month period or (if earlier) upon the
Expiration Date, this option shall terminate and cease to be outstanding. Notwithstanding the foregoing, unless otherwise determined by the Plan Administrator, should Optionee’s Service be terminated by the Corporation for Misconduct or should
Optionee engage in Misconduct while holding this option, this option shall immediately terminate and cease to be outstanding. 
 (b) Should Optionee die while in Service or during the three (3)-month period following Optionee’s cessation of Service, then the personal representative of the Optionee’s estate or the person or persons to whom the option is
transferred pursuant to the Optionee’s will or in accordance with the law of descent and distribution shall have the right to exercise this option. Such right shall lapse and this option shall cease to be exercisable upon the earlier of
(i) the expiration of the twelve (12)-month period measured from the date of Optionee’s death or (ii) the Expiration Date. Upon the expiration of such twelve (12)-month period or (if earlier) upon the Expiration Date, this option
shall terminate and cease to be outstanding. 
 (c) Should Optionee become Permanently Disabled and cease by reason thereof to
remain in Service, then the Optionee shall have a period of twelve (12) months (commencing with the date of such cessation of Service) during which to exercise this option, but in no event shall this option be exercisable at any time after the
Expiration Date. Upon the expiration of such limited period of exercisability or (if earlier) upon the Expiration Date, this option shall terminate and cease to be outstanding. 
 (d) During the limited period of exercisability applicable under subparagraphs (a), (b) or (c) above, this option may be
exercised for any or all of the Optioned Shares for which this option is, at the time of the Optionee’s cessation of Service, exercisable in accordance with the exercise schedule specified in the Grant Notice and the provisions of
Paragraph 6 of this Agreement. 
 6. Special Termination of Option. 
 (a) To the extent and as further provided in the Plan, in the event of a Corporation Transaction, then the exercisability of this option
(if outstanding at the time) shall automatically accelerate so that such option shall, immediately prior to the specified effective date for the Corporate Transaction, become fully exercisable for all of the Optioned Shares and may be exercised for
all or any portion of such shares, after which this option shall terminate upon the consummation of the Corporate Transaction and cease to be exercisable, unless it 

  

 2 

 
is assumed by the successor corporation or parent thereof. No such acceleration of this option, however, shall occur if and to the extent the option is, in
connection with the Corporate Transaction, either to be assumed by the successor corporation or parent thereof or replaced with a cash incentive program which preserves the spread existing at the time of the Corporate Transaction. 
 (b) The exercisability of this option as an incentive stock option under the Federal tax laws (if designated as such in the Grant Notice)
shall, in connection with any such Corporate Transaction, be subject to the applicable dollar limitation of Paragraph 16. 
 (c) This Agreement shall not in any way affect the right of the Corporation to adjust, reclassify, reorganize or otherwise make changes in its capital or business structure or to merger, consolidate, dissolve, liquidate or sell or transfer
all or any part of its business or assets. 
 7. Adjustment in Optioned Shares. 
 (a) In the event any change is made to the Corporation’s outstanding Common Stock by reason of any stock dividend, stock split,
combination of shares, exchange of shares, or other change affecting the outstanding Common Stock as a class without receipt of consideration, then appropriate adjustments shall be made to (i) the total number of Optioned Shares subject to this
option, (ii) the number of Optioned Shares for which this option is to be exercisable from and after each installment date specified in the Grant Notice and (iii) the Option Price payable per share in order to reflect such change and
thereby preclude a dilution or enlargement of benefits hereunder. 
 (b) If this option is to remain outstanding after any
Corporate Transaction, then this option (including the number and type of securities and per share Option Price) shall be appropriately adjusted as provided in Article Two, Section III, Paragraph D of the Plan. 
 8. Privilege of Stock Ownership. The holder of this option shall not have any of the rights of a shareholder with respect to the Optioned Shares
until such individual shall have exercised the option and paid the Option Price. 
 9. Manner of Exercising Option. 
 (a) In order to exercise this option with respect to all or any part of the Optioned Shares for which this option is at the time
exercisable, Optionee (or in the case of exercise after Optionee’s death, the Optionee’s executor, administrator, heir or legatee, as the case may be) must take the following actions: 
 (i) Execute and deliver to the Corporation a notice of exercise in the form specified by the Corporation and in the manner specified by
the Corporation. 
 (ii) Pay the aggregate Option Price for the purchased shares in one or more of the following alternative
forms: 
  

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 (A) full payment in cash or check; or 
 (B) full payment in shares of Common Stock of the Corporation held by the Optionee for the requisite period necessary to avoid a charge
to the Corporation’s earnings for financial reporting purposes and valued at Fair Market Value on the Exercise Date; or 
 (C) any combination of the foregoing; or 
 (D) any other form which the Plan Administrator may, in its discretion,
approve in accordance with the provisions of the Plan and with applicable law; or 
 (E) a “broker-assisted cashless
exercise” pursuant to which the Corporation receives full payment of the Option Price and all applicable Federal and state income and employment taxes required to be withheld by the Corporation. 
 (iii) Furnish to the Corporation appropriate documentation that the person or persons exercising the option, if other than the Optionee,
have the right to exercise this option. 
 (b) As soon after the Exercise Date as practical, the Corporation shall mail or
deliver to Optionee or to the other person or persons exercising this option a certificate or certificates (which may be physical or electronic) representing the shares so purchased and paid for, with the appropriate legends affixed thereto.

 (c) In no event may this option be exercised for any fractional shares. 
 10. Compliance with Laws and Regulations. 
 (a) The exercise of this option and the issuance of Optioned Shares upon such exercise shall be subject to compliance by the Corporation and the Optionee with all applicable requirements of law relating thereto and
with all applicable regulations of any stock exchange on which the shares of the Corporation’s Common Stock may be listed at the time of such exercise and issuance, as well as subject to stockholder approval of the Plan if applicable.

 (b) In connection with the exercise of this option, Optionee shall execute and deliver to the Corporation such
representations in writing as may be requested by the Corporation in order for it to comply with the applicable requirements of Federal and State securities laws. 
 11. Liability of Corporation. 
 (a) If the Optioned Shares covered by this Agreement
exceed, as of the Grant Date, the number of shares of Common Stock which may without shareholder approval be issued under the Plan, then this option shall be void with respect to such excess shares, unless shareholder approval of an amendment
sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the Plan. 
  

 4 

 (b) The inability of the Corporation to obtain approval from any regulatory body having
authority deemed by the Corporation to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Corporation of any liability with respect to the non-issuance or sale of the Common Stock as to which
such approval shall not have been obtained. 
 12. No Employment or Service Contract. Nothing in this Agreement or in the Plan shall
confer upon the Optionee any right to continue in the Service of the Corporation (or any parent or subsidiary corporation of the Corporation employing or retaining Optionee) for any period of specific duration or interfere with or otherwise restrict
in any way the rights of the Corporation (or any parent or subsidiary corporation of the Corporation employing or retaining Optionee) or the rights of the Optionee, which rights are hereby expressly reserved by each, to terminate Optionee’s
Service at any time for any reason whatsoever, with or without cause. 
 13. Notices. Any notice required to be given or delivered to
the Corporation under the terms of this Agreement shall be in writing and addressed to the Corporation in care of the director of personnel at its corporate offices in San Francisco, California. Any notice required to be given or delivered to
Optionee shall be in writing and addressed to Optionee at the address indicated below Optionee’s signature line on the Grant Notice. All notices shall be deemed to have been given or delivered upon personal delivery or upon deposit in the U.S.
mail, postage prepaid and properly addressed to the party to be notified. 
 14. Construction. This Agreement and the option evidenced
hereby are made and granted pursuant to the Plan and are in all respects limited by and subject to the express terms and provisions of the Plan. All decisions of the Plan Administrator with respect to any question or issue arising under the Plan or
this Agreement shall be conclusive and binding on all persons having an interest in this option. 
 15. Governing Law. The
interpretation, performance, and enforcement of this Agreement shall be governed by the laws of the State of California without resort to that State’s conflict-of-laws rules. 
 16. Additional Terms Applicable to an Incentive Stock Option. In the event this option is an incentive stock option (or Incentive Option) as
specified in the Grant Notice, the following terms and conditions shall also apply to the grant: 
 (a) This option shall only
be an incentive stock option to the extent permitted by applicable tax rules and regulations. 
 (b) This option shall cease
to qualify for favorable tax treatment as an incentive stock option under the Federal tax laws if (and to the extent) this option is exercised for one or more Optioned Shares: (i) more than three months after the date the Optionee ceases to be
an employee for any reason other than death or permanent disability (as defined in Section 22(e)(3) of the Code) or (ii) more than one year after the date the Optionee ceases to be an employee by reason of permanent disability (as defined
in Section 22(e)(3) of the Code). 
  

 5 

 (c) No portion of this option shall qualify for favorable tax treatment as an incentive
stock option under the Federal tax laws if (and to the extent) the aggregate fair market value (determined at the Grant Date) of the Corporation’s Common Stock for which such portion first becomes exercisable hereunder will, when added to the
aggregate fair market value (determined as of the respective date or dates of grant) of the Corporation’s Common Stock for which one or more other incentive stock options granted to the Optionee (whether under the Plan or any other option plan
of the Corporation or any parent or subsidiary corporation) first become exercisable during the same calendar year, exceed $100,000 in the aggregate. 
 (d) To the extent this option should fail to qualify as an incentive stock option under the Federal tax laws, the Optionee will recognize compensation income in connection with the acquisition of one or more Optioned
Shares hereunder. 
 17. Withholding. Optionee hereby agrees to make appropriate arrangements with the Corporation or parent or
subsidiary corporation employing Optionee for the satisfaction of all applicable Federal, State or local income tax withholding requirements and Federal social security employee tax requirements applicable to the exercise of this option. The
Corporation’s obligation to deliver shares of Common Stock upon the exercise of options shall be subject to the satisfaction by Optionee of all applicable Federal, state and local income and employment tax withholding requirements. 

 

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