Document:

EX-10.1

 Exhibit 10.1 
 Execution Version 
  

 
  

THIRD AMENDMENT 
 TO 
 CREDIT AGREEMENT 

dated as of 
 September 27, 2012 
 among 

DRESSER RAND GROUP INC., 
 as Domestic Borrower, 
 D-R HOLDINGS (France) S.A.S., 

as French Borrower, 
 GRUPO GUASCOR, S.L., 
 as Spanish Borrower 

THE LENDERS PARTY HERETO, 
 JPMORGAN CHASE BANK, N.A., 
 as Administrative Agent, 

and 

J.P. MORGAN EUROPE LIMITED, 
 as European Administrative Agent 
  

 
  

 THIRD AMENDMENT CREDIT AGREEMENT 

THIS THIRD AMENDMENT TO CREDIT AGREEMENT (this “Third Amendment”), dated as of September 27, 2012, is among
DRESSER RAND GROUP INC., a Delaware corporation (the “Domestic Borrower”); D-R HOLDINGS (France) S.A.S., a corporation organized under the laws of France (the “French Borrower”); GRUPO GUASCOR,
S.L., a sociedad limitada organized under the laws of Spain (the “Spanish Borrower”); JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, together with its successors in such capacity, the
“Administrative Agent”) for the lenders party to the Credit Agreement referred to below (collectively, the “Lenders”); and the undersigned Lenders. 

R E C I T A L S 
 The Domestic Borrower, the French Borrower, the Spanish Borrower, the Administrative Agent and the Lenders are parties to that certain Credit Agreement dated as of March 15, 2011, as amended by that
First Amendment to Credit Agreement dated as of May 11, 2011 and that Second Amendment to Credit Agreement dated as of June 21,2012 (as so amended, the “Credit Agreement”), pursuant to which the Lenders have made certain
extensions of credit available to the Domestic Borrower, the French Borrower, and the Spanish Borrower; and 
 The Domestic
Borrower, the French Borrower, and the Spanish Borrower have requested, and the Administrative Agent and the Lenders are willing, to amend certain provisions of the Credit Agreement as more fully provided herein. 

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 Section 1. Defined
Terms. Each capitalized term used herein but not otherwise defined herein has the meaning given such term in the Credit Agreement. Unless otherwise indicated, all references to Sections and Articles in this Third Amendment refer to Sections and
Articles of the Credit Agreement. 
 Section 2. Amendments to Credit Agreement. 

2.1 Amendments to Section 1.01. 
 (a) Section 1.01 of the Credit Agreement shall be and it hereby is amended by deleting the following definitions and replacing such definitions in their entirety with the following: 

“Equivalent” in Dollars of any Foreign Currency or Alternate LC Currency on any date shall mean the
equivalent in Dollars of such Foreign Currency or Alternate LC Currency determined by using the quoted spot rate at which the European Administrative Agent’s principal office in London offers to exchange Dollars for such Foreign Currency or
Alternate LC Currency in London prior to 4:00 p.m. (London time) (unless otherwise indicated by the terms of this Agreement) on such date as is required pursuant to the terms of this Agreement, and the “Equivalent” in any Foreign Currency
of Dollars shall mean the equivalent in such Foreign Currency of Dollars determined by using the quoted spot rate at which the European Administrative Agent’s principal office in London offers to exchange such Foreign Currency for Dollars in
London prior to 4:00 p.m. (London time) (unless otherwise indicated by the terms of this Agreement) on such date as is required pursuant to the terms of this Agreement. 

 (b) Section 1.01 of the Credit Agreement shall be and it hereby is
amended by adding the following definitions where appropriate: 
 “Alternate LC Currency” shall
mean (a) Brazilian Real, (b) Canadian Dollars, (c) Chinese Yuan, (d) Colombian Pesos, (e) Indian Rupees, (f) Japanese Yen, (g) Mexican Pesos, (h) Norwegian Krone, (i) Swedish Krona and (j) Trinidad
and Tobago Dollars. 
 2.2 Amendments to Section 2.05. 

(a) Section 2.05(b) of the Credit Agreement shall be and it hereby is amended by deleting it in its entirety and
replacing it as follows: 
 Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To
request the issuance of a Letter of Credit (or the amendment, renewal (other than an automatic renewal in accordance with paragraph (c) of this Section) or extension of an outstanding Letter of Credit), a Borrower shall hand deliver or telecopy
(or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank) to the applicable Issuing Bank and the Administrative Agent (two (2) Business Days in advance of the requested date of
issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which
shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit and the currency (either in Dollars, a Foreign Currency, or an Alternate
LC Currency) in which it is denominated, the name and address of the beneficiary thereof and such other information as shall be necessary to issue, amend, renew or extend such Letter of Credit. If requested by the applicable Issuing Bank, a Borrower
also shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment,
renewal or extension of each Letter of Credit the applicable Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the Revolving L/C Exposure shall not exceed $600.0
million, (ii) the Revolving Facility Credit Exposure shall not exceed the total Revolving Facility Commitments, and (iii) the Equivalent in Dollars of the Revolving L/C Exposure denominated in a Foreign Currency or an Alternate LC Currency
determined on the date of such issuance, amendment, renewal or extension shall not exceed (A) in the case such Foreign Currency is Euros, $350.0 million, (B) in the case such Foreign Currency is Sterling, $75.0 million, and (C) in the
case of all Alternate LC Currency, $75.0 million. 

  
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 (b) Section 2.05(d) of the Credit Agreement shall be and it hereby is
amended by deleting it in its entirety and replacing it as follows: 
 Participations. By the issuance of
a Letter of Credit (or an amendment to a Letter of Credit increasing the amount thereof) and without any further action on the part of the applicable Issuing Bank or the Revolving Facility Lenders, such Issuing Bank hereby grants to each Revolving
Facility Lender, and each Revolving Facility Lender hereby acquires from such Issuing Bank, a participation in such Letter of Credit equal to such Revolving Facility Lender’s Revolving Facility Percentage of the aggregate amount available to be
drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Facility Lender hereby absolutely and unconditionally agrees to pay to the Administrative Agent in Dollars, the Foreign Currency in which such
Letter of Credit is denominated, or the Equivalent in Dollars of any Alternate LC Currency in which such Letter of Credit is denominated, as the case may be, for the account of the applicable Issuing Bank, such Revolving Facility Lender’s
Revolving Facility Percentage of each L/C Disbursement made by such Issuing Bank not reimbursed by the applicable Borrower on the date due as provided in Section 2.05(e), or of any reimbursement payment required to be refunded to the applicable
Borrower for any reason. Each Revolving Facility Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any
offset, abatement, withholding or reduction whatsoever 
 (c) Section 2.05(e) of the Credit Agreement shall
be and it hereby is amended by deleting it in its entirety and replacing it as follows: 
 Reimbursement.
If the applicable Issuing Bank shall make any L/C Disbursement in respect of a Letter of Credit, the Borrower for which such Letter of Credit was issued shall reimburse such L/C Disbursement by paying to the Administrative Agent an amount equal to
such L/C Disbursement in Dollars, the Foreign Currency in which such Letter of Credit is denominated, or the Equivalent in Dollars of any Alternate LC Currency in which such Letter of Credit is denominated, as the case may be, not later than 5:00
p.m., Local Time, on the same Business Day such Borrower receives notice under Section 2.05(g) of such L/C Disbursement, provided that such Borrower may, subject to the conditions to borrowing set forth herein, request in accordance with
Section 2.03 or Section 2.04 that such payment be financed with an ABR Revolving Facility Borrowing or a Swingline Borrowing or an Eurocurrency Revolving Loan denominated in the applicable Foreign Currency, as applicable, in an equivalent

  
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amount and, to the extent so financed, such Borrower’s obligation to make such payment shall be discharged and replaced by the resulting ABR Revolving Facility Borrowing or Swingline
Borrowing or Eurocurrency Revolving Loan. If any Borrower fails to reimburse any L/C Disbursement when due, then the Administrative Agent shall promptly notify the applicable Issuing Bank and each other Revolving Facility Lender of the applicable
L/C Disbursement, the payment then due from such Borrower and, in the case of a Revolving Facility Lender, such Lender’s Revolving Facility Percentage thereof. Promptly following receipt of such notice, each Revolving Facility Lender shall pay
to the Administrative Agent in Dollars, such Foreign Currency, or the Equivalent in Dollars of such Alternate LC Currency, as the case may be, its Revolving Facility Percentage of the payment then due from such Borrower, in the same manner as
provided in Section 2.06 with respect to Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment obligations of the Revolving Facility Lenders), and the Administrative Agent shall promptly pay to the
applicable Issuing Bank in Dollars, such Foreign Currency, or the Equivalent in Dollars of such Alternate LC Currency, as the case may be, the amounts so received by it from the Revolving Facility Lenders. Promptly following receipt by the
Administrative Agent of any payment from such Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Revolving Facility Lenders have made payments pursuant to
this paragraph to reimburse such Issuing Bank, then to such Lenders and such Issuing Bank as their interests may appear. Any payment made by a Revolving Facility Lender pursuant to this paragraph to reimburse an Issuing Bank for any L/C Disbursement
(other than the funding of an ABR Revolving Loan or a Swingline Borrowing or an Eurocurrency Revolving Loan as contemplated above) shall not constitute a Loan and shall not relieve any Borrower of its obligation to reimburse such L/C Disbursement

 (d) Section 2.05(h) of the Credit Agreement shall be and it hereby is amended by deleting it in its
entirety and replacing it as follows: 
 Interim Interest. If an Issuing Bank shall make any L/C
Disbursement, then, unless the applicable Borrower shall reimburse such L/C Disbursement in full on the date such L/C Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such L/C Disbursement
is made to but excluding the date that such Borrower reimburses such L/C Disbursement, at the rate per annum then applicable to ABR Revolving Loans or Eurocurrency Revolving Loans denominated in the applicable Foreign Currency, as applicable;
provided that, if such L/C Disbursement is not reimbursed by such Borrower when due pursuant to paragraph (e) of this Section, then Section 2.14(c) shall apply; provided further that any L/C Disbursement that is reimbursed after the date
such L/C Disbursement is required to be reimbursed under paragraph (e) of this Section, (A) be payable in Dollars, the Foreign Currency in which such Letter of Credit is denominated, or the Equivalent in Dollars of any Alternate LC
Currency in which such Letter of Credit is denominated, as the case may be, (B) bear interest at the rate per annum then applicable to ABR Revolving Loans or Eurocurrency Revolving Loans denominated in the applicable Foreign Currency, as
applicable, and (C) Section 2.14(c) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Facility
Lender pursuant to paragraph (e) of this Section to reimburse such Issuing Bank shall be for the account of such Revolving Facility Lender to the extent of such payment 

  
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 (e) Section 2.05(j) of the Credit Agreement shall be and it hereby is
amended by deleting it in its entirety and replacing it as follows: 
 Cash Collateralization. If any
Event of Default shall occur and be continuing, (i) in the case of an Event of Default described in Section 7.01(h), (i) or (l), on the Business Day or (ii) in the case of any other Event of Default, on the third Business Day, in
each case, following the date on which any Borrower receives notice from the Administrative Agent (or, if the maturity of the Loans has been accelerated, Revolving Facility Lenders with Revolving L/C Exposure representing greater than 50% of the
total Revolving L/C Exposure) demanding the deposit of cash collateral pursuant to this paragraph, such Borrower shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Lenders,
an amount in Dollars in cash equal to the Revolving L/C Exposure as of such date plus any accrued and unpaid interest thereon; provided that, upon the occurrence of any Event of Default with respect to any Borrower described in clause (h),
(i) or (l) of Section 7.01, the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable in Dollars, such Foreign Currency, or the Equivalent in Dollars
of such Alternate LC Currency, without demand or other notice of any kind. Each Borrower also shall deposit cash collateral pursuant to this paragraph as and to the extent required by Section 2.12(b). Each such deposit pursuant to this
paragraph or pursuant to Section 2.12(b) shall be held by the Administrative Agent as Collateral for the payment and performance of the obligations of the applicable Borrower under this Agreement. The Administrative Agent shall have exclusive
dominion and control, including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of (i) for so long as an
Event of Default shall be continuing, the Administrative Agent and (ii) at any other time, the applicable Borrower, in each case, in Permitted Investments and at the risk and expense of such Borrower, such deposits shall not bear interest.
Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse each Issuing Bank for L/C Disbursements for which such Issuing Bank has not been
reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the applicable Borrower for the Revolving L/C Exposure at such time or, if the maturity of the Loans has been accelerated (but
subject to the consent of Revolving Facility Lenders with Revolving L/C Exposure representing greater than 50% of the total Revolving L/C Exposure), be 

  
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applied to satisfy other obligations of such Borrower under this Agreement. If any Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event
of Default, such amount (to the extent not applied as aforesaid) shall be returned to such Borrower within three (3) Business Days after all Events of Default have been cured or waived. If any Borrower is required to provide an amount of cash
collateral hereunder pursuant to Section 2.12(b), such amount (to the extent not applied as aforesaid) shall be returned to such Borrower as and to the extent that, after giving effect to such return, such Borrower would remain in compliance
with Section 2.12(b) and no Event of Default shall have occurred and be continuing 
 2.3 Amendment to
Section 2.12(b)(i). Section 2.12(b)(i) of the Credit Agreement shall be and it hereby is amended by deleting it in its entirety and replacing it as follows: 

If on any date, the Administrative Agent notifies the Domestic Borrower that, on the last day of any month, the sum of
(i) the sum of aggregate principal amount of all Revolving Facility Loans denominated in Dollars plus the aggregate principal amount of all Letters of Credit denominated in Dollars then outstanding plus (ii) the Equivalent in Dollars
(determined on the third Business Day prior to such interest payment date) of the sum of the aggregate principal amount of all Revolving Facility Loans denominated in Foreign Currencies plus the aggregate principal amount of all Letters of Credit
denominated in Foreign Currencies or Alternate LC Currencies then outstanding exceeds 105% of the aggregate Revolving Facility Commitments of the Lenders on such date, the Domestic Borrower and each other Borrower shall, as soon as practicable and
in any event within two Business Days following such date, prepay the outstanding principal amount of any Revolving Facility Loans owing by such Borrower in an aggregate amount (or deposit cash collateral in an account with the Administrative Agent
pursuant to Section 2.05(j)) sufficient to reduce such sum to an amount not to exceed 100% of the aggregate Revolving Facility Commitments of the Lenders on such date together with any interest accrued to the date of such prepayment on the
aggregate principal amount of Revolving Facility Loans prepaid. The Administrative Agent shall give prompt notice of any prepayment required under this Section 2.12(b)(i) to the Domestic Borrower and the Lenders 

2.4 Amendments to Section 2.19. 
 (a) Section 2.19(a) of the Credit Agreement shall be and it hereby is amended by deleting it in its entirety and replacing it as follows: 

Unless otherwise specified, each Borrower shall make each payment required to be made by it hereunder (whether of
principal, interest, fees or reimbursement of L/C Disbursements, or of amounts payable under Section 2.16, 2.17, 2.18, or 2.21, or otherwise) prior to 2:00 p.m., Local Time, on the date when due, in immediately available funds, without
condition or deduction for any defense, recoupment, set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to 

  
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have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent to the applicable account
designated to the Borrowers by the Administrative Agent, except payments to be made directly to the applicable Issuing Bank or the applicable Swingline Lender as expressly provided herein and except that payments pursuant to Sections 2.16, 2.17,
2.18, or 2.21 and 9.05 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt
thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for
the period of such extension. Except for Loans denominated in any Foreign Currency (the principal of and interest on which hereunder shall be paid in such Foreign Currency) and except for reimbursement obligations with respect to any Letter of
Credit denominated in any Foreign Currency (which shall be paid in such Foreign Currency), all payments hereunder of (i) principal or interest in respect of any Loan, (ii) reimbursement obligations with respect to any Letter of Credit or
(iii) any other amount due hereunder or under any other Loan Document shall be made in Dollars or the Equivalent in Dollars. Any payment required to be made by the Administrative Agent hereunder shall be deemed to have been made by the time
required if such Administrative Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance with the regulations or operating procedures of the clearing or settlement system used by such Administrative
Agent to make such payment. 
 (b) Section 2.19(f) of the Credit Agreement shall be and it hereby is amended
by deleting it in its entirety and replacing it as follows: 
 To the extent that the Administrative Agent
receives funds for application to the amounts owing by any Borrower under or in respect of this Agreement in currencies other than the currency or currencies required to enable the Administrative Agent to distribute funds to the Lenders in
accordance with the terms of this Section 2.19, the Administrative Agent shall be entitled to convert or exchange such funds into Dollars, a Foreign Currency, or an Alternate LC Currency or from Dollars to a Foreign Currency or an Alternate LC
Currency or from a Foreign Currency or an Alternate LC Currency to Dollars, as the case may be, to the extent necessary to enable the Agent to distribute such funds in accordance with the terms of this Section 2.19; provided that each Borrower
and each of the Lenders hereby agree that the Administrative Agent shall not be liable or responsible for any loss, cost or expense suffered by such Borrower or such Lender as a result of any conversion or exchange of currencies affected pursuant to
this Section 2.19(f) or as a result of the failure of the Administrative Agent to effect any such conversion or exchange; and provided further that each applicable Borrower agrees to indemnify the Administrative Agent and each Lender, and hold
the Administrative Agent and each Lender harmless, for any and all losses, costs and expenses incurred by the Administrative Agent or any Lender for any conversion or exchange of currencies (or the failure to convert or exchange any currencies) in
accordance with this Section 2.19(f). 

  
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 Section 3. Limited Waiver. The Borrower has informed the Administrative Agent
that certain letters of credit have been issued in currencies other than Dollars or Foreign Currency in violation of the provisions of Section 2.05 of the Credit Agreement (the “Specified Breach”). In connection with this Third
Amendment, the Borrower has requested that the Lenders waive, and the Lenders do hereby waive, the occurrence of the Specified Breach. The foregoing waiver is hereby granted to the extent and only to the extent specifically stated herein only and
for no other purpose and, except as expressly set forth in this Third Amendment, shall not be deemed to (a) be a consent or agreement to, or waiver or modification of, any other term or condition of the Credit Agreement, any other Loan Document
or any of the documents referred to therein, (b) impair or prejudice any right or rights which the Administrative Agent or the Lenders may now have or may have in the future under or in connection with the Credit Agreement, any other Loan
Document or any of the documents referred to therein, or (c) constitute any course of dealing or other basis for altering any obligation of the Borrower or any right, privilege or remedy of the Administrative Agent or the Lenders under the
Credit Agreement, the other Loan Documents, or any other contract or instrument. Granting the waiver set forth herein does not and should not be construed to be an assurance or promise that waivers will be granted in the future. 

Section 4. Conditions Precedent. This Third Amendment shall not become effective until the date on which each of the
following conditions is satisfied (or waived in accordance with Section 9.08 of the Credit Agreement) (the “Third Amendment Effective Date”): 
 4.1 The Administrative Agent shall have received from the Required Lenders, the Administrative Agent and the Borrowers, counterparts (in such number as may be requested by the Administrative Agent) of
this Third Amendment signed on behalf of such Persons. 
 4.2 No Default or Event of Default shall have occurred and be
continuing, after giving effect to the terms of this Third Amendment. 
 4.3 The Administrative Agent and the Lenders shall have
received all fees and other amounts due and payable on or prior to the Third Amendment Effective Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrower under
the Credit Agreement. 
 4.4 Each guarantor shall have executed and delivered the Reaffirmation and Ratification attached to
this Third Amendment. 
 Section 5. Miscellaneous. 

5.1 Confirmation. The provisions of the Credit Agreement, as amended by this Third Amendment, shall remain in full force and
effect following the effectiveness of this Third Amendment. 

  
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 5.2 Ratification and Affirmation; Representations and Warranties. The Borrowers
hereby: (a) acknowledge the terms of this Third Amendment; (b) ratify and affirm their obligations under, and acknowledge, renew and extend their continued liability under, each Loan Document to which they are a party and agree that each
Loan Document to which they are a party remains in full force and effect, except as expressly amended hereby, after giving effect to the amendments contained herein; (c) agree that from and after the Third Amendment Effective Date each
reference to the Credit Agreement in the Guarantee and Collateral Agreement, the Mortgages and the other Loan Documents shall be deemed to be a reference to the Credit Agreement, as amended by this Third Amendment; and (d) represent and warrant
to the Lenders that as of the date hereof, after giving effect to the terms of this Third Amendment: (i) all of the representations and warranties made by the Borrowers contained in each Loan Document to which they are a party are true and
correct in all material respects, unless such representations and warranties are stated to relate to a specific earlier date, in which case, such representations and warranties shall be true and correct in all material respects as of such earlier
date and (ii) no Default or Event of Default has occurred and is continuing. 
 5.3 Loan Document. This Third
Amendment is a “Loan Document” as defined and described in the Credit Agreement and all of the terms and provisions of the Credit Agreement relating to Loan Documents shall apply hereto. 

5.4 Counterparts. This Third Amendment may be executed by one or more of the parties hereto in any number of separate
counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of this Third Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.

 5.5 NO ORAL AGREEMENT. THIS THIRD AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION
HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES. 

5.6 GOVERNING LAW. THIS THIRD AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED
BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 [SIGNATURES BEGIN NEXT PAGE] 

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

			
	 DRESSER RAND GROUP INC.,
 as the Domestic Borrower

		
	By:	 	 /s/ Robert J. Saltarelli

	Name:	 	Robert J. Saltarelli
	Title:	 	Vice President and Treasurer
	
	 D-R HOLDINGS (France) S.A.S.,
 as the French Borrower

		
	By:	 	 /s/ Mark F. Mai

	Name:	 	Mark F. Mai
	Title:	 	President
	
	 GRUPO GUASCOR, S.L.,
 as the Spanish Borrower

		
	By:	 	 /s/ Mark F. Mai

	Name:	 	Mark F. Mai
	Title:	 	Legal Representative

  
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Amendment 
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	 JPMorgan Chase Bank, N.A.,
 as Administrative Agent and as a Lender

		
	By:	 	/s/ Preeti Bhatnager
	Name: Preeti Bhatnager
	Title: Authorized Officer

  
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Amendment 
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	 J.P. Morgan Europe Limited,
 as European Administrative Agent and as a Lender

		
	By:	 	/s/ Altan Kayaalp
	Name: Altan Kayaalp
	Title: Executive Director

  
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	 J.P. Morgan Securities plc,
 as a Lender

		
	By:	 	/s/ Altan Kayaalp
	Name: Altan Kayaalp
	Title: Executive Director

  
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Amendment 
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	 Bank of America, N.A.,
 as Co-Syndication Agent and as a Lender

		
	By:	 	/s/ Julie Castano
	Name: Julie Castano
	Title: Vice President

  
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	 Commerzbank AG, New York and Grand Cayman Branch,
 as Co-Syndication Agent and as a Lender

		
	By:	 	/s/ Aleksandra Pacholek
	Name: Aleksandra Pacholek
	Title: AVP
		
	 By:
	 	/s/ Michael Weinert
	Name: Michael Weinert
	Title: AVP

  
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	 DNB Bank ASA, Grand Cayman Branch,
 as Co-Syndication Agent and as a Lender

		
	By:	 	/s/ Pål Boger
	Name: Pål Boger
	Title: Vice President
		
	 By:
	 	/s/ Philip F. Kurpiewski
	Name: Philip F. Kurpiewski
	Title: Senior Vice President

  
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	 Wells Fargo Bank, N.A.,
 as Co-Syndication Agent and as a Lender

		
	By:	 	/s/ Robert Corder
	Name: Robert Corder
	Title: Director

  
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	 The Bank of Tokyo-Mitsubishi UFJ, Ltd.,
 as a Lender

		
	By:	 	/s/ Sherwin Brandford
	Name: Sherwin Brandford
	Title: Vice President

  
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	 Citicorp North America, Inc.
 as a Lender

		
	By:	 	/s/ Christopher M. Hartzel
	Name: Christopher M. Hartzel
	Title: Vice President

  
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	 HSBC Bank USA, N.A.,
 as a Lender

		
	By:	 	/s/ Bruce Robinson
	Name: Bruce Robinson
	Title: Vice President

  
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	 Sumimoto Mitsui Banking Corporation,
 as a Lender

		
	By:	 	/s/ Shuji Yabe
	Name: Shuji Yabe
	Title: Managing Director

  
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	 Barclays Bank PLC,
 as a Lender

		
	By:	 	/s/ John Laud
	Name: John Laud
	Title: Relationship Director

  
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	 U.S. Bank National Association,
 as a Lender

		
	By:	 	/s/ John M. Eyerman
	Name: John M. Eyerman
	Title: Vice President

  
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Amendment 
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	 Branch Banking and Trust Company,
 as a Lender

		
	By:	 	/s/ Elizabeth Willis
	Name: Elizabeth Willis
	Title: Assistant Vice President

  
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	 Morgan Stanley Bank, N.A.,
 as a Lender

		
	By:	 	/s/ William Jones
	Name: William Jones
	Title: Authorized Signatory

  
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	 The Northern Trust Company,
 as a Lender

		
	By:	 	/s/ Alex Cullen
	Name: Alex Cullen
	Title: Credit Officer

  
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 Signature Page 

 REAFFIRMATION AND RATIFICATION: Each guarantor hereby (a) acknowledges the terms of
this Third Amendment; (b) ratifies and affirms its obligations under, and acknowledges its continued liability under, each Loan Document to which it is a party, including the Domestic Guarantee and Collateral Agreement, and agrees that each
Loan Document to which it is a party, including the Domestic Guarantee and Collateral Agreement, remains in full force and effect as expressly amended hereby; and (c) represents and warrants to the Lenders that, as of the date hereof, after
giving effect to the terms of this Third Amendment: (i) all of the representations and warranties made by such guarantor contained in each Loan Document to which such guarantor is a party, including the Domestic Guarantee and Collateral
Agreement, are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representation or warranty that is already qualified or modified by materiality in the text thereof) as though made on
and as of the Third Amendment Effective Date (unless such representations and warranties are stated to relate to a specific earlier date, in which case, such representations and warranties shall be true and correct in all material respects as of
such earlier date) and (ii) no Default or Event of Default has occurred and is continuing. 
  

							
	ACKNOWLEDGED AND RATIFIED:	 		 	DRESSER-RAND COMPANY
				
		 		 	By:	 	/s/ Robert J. Saltarelli
		 		 	Name: Robert J. Saltarelli
		 		 	Title: Vice President and Treasurer
			
		 		 	DRESSER-RAND LLC
				
		 		 	By:	 	/s/ Robert J. Saltarelli
		 		 	Name: Robert J. Saltarelli
		 		 	Title: Vice President and Treasurer
			
		 		 	D-R STEAM LLC
				
		 		 	By:	 	/s/ Mark F. Mai
		 		 	Name: Mark F. Mai
		 		 	Title: Vice President and Secretary
			
		 		 	DRESSER-RAND POWER LLC
				
		 		 	By:	 	/s/ Robert J. Saltarelli
		 		 	Name: Robert J. Saltarelli
		 		 	Title: Vice President and Treasurer

  
 Reaffirmation
and Ratification 

 
			
	DRESSER-RAND GLOBAL SERVICES, INC.
		
	By:	 	/s/ Robert J. Saltarelli
	Name: Robert J. Saltarelli
	Title: Vice President and Treasurer
	
	DR ACQUISITION LLC
		
	 By:
	 	Dresser-Rand Company, its sole member
		
	 By:
	 	/s/ Robert J. Saltarelli
	Name: Robert J. Saltarelli
	Title: Vice President and Treasurer

  
 Reaffirmation
and RatificationEX-10.2

 EXHIBIT 10.2 

CONFIDENTIALITY, NON-COMPETE, SEVERANCE, 
 AND CHANGE IN CONTROL AGREEMENT 
 This Confidentiality, Non-Compete,
Severance, and Change in Control Agreement (the “Agreement”) is entered into as of this             day of
            , 20            by and between
            (“Executive”), and Dresser-Rand Group Inc., a Delaware corporation (“DRG”). 
 WHEREAS, Executive is currently employed by the Company (as defined below) and, by virtue of that employment will receive access to competitively sensitive, confidential, proprietary and trade secret
information relating to the current and planned business of the Company; and 
 WHEREAS, the Company and Executive wish to make
certain arrangements to protect the value of such information to the Company during Executive’s employment and following such time as Executive’s employment with the Company may end; and 

WHEREAS, in exchange for such protections and in recognition of Executive’s anticipated contributions to the Company, the Company
and Executive wish further to make arrangements for the potential payment of severance following the conclusion of Executive’s employment with the Company under certain circumstances, including following a change in control of DRG. 

NOW, THEREFORE, in consideration of the mutual representations, warranties, covenants and agreements set forth herein, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 
 1. DEFINITIONS. 
 (a) Affiliate. For purposes of this Agreement,
“Affiliate” shall mean any corporation, partnership, limited liability company or similar entity which is under the control of the DRG or under common control with the DRG. 

(b) Base Salary. For purposes of this Agreement, “Base Salary” shall mean the annualized rate of salary authorized and being
paid to Executive as of the date in question, excluding any bonus, incentive plan payments, benefits, equity compensation, and other forms of compensation that are not paid to Executive on a regular, recurring basis (except where local payroll
practices otherwise require, as determined by the Company) under the Company’s standard payroll practices. 

  

 (c) Cause. For purposes of this Agreement, “Cause” shall mean the occurrence of
any of the following: 
 (i) the material failure or refusal by Executive to perform his/her duties hereunder (including, without
limitation, Executive’s inability to perform such duties as a result of alcohol or drug abuse, chronic alcoholism or drug addiction) or to devote substantially all of his/her business time, attention and energies to the performance of his/her
duties hereunder; 
 (ii) any willful, intentional or grossly negligent act by Executive having the effect of materially injuring
the interest, business or prospects of the Company, or any of its subsidiaries or divisions; 
 (iii) the material violation or
material failure by Executive to comply with the Company’s material published rules, regulations or policies, as in effect from time to time; 
 (iv) Executive’s conviction of a felony offense or conviction of a misdemeanor offense involving moral turpitude, fraud, theft or dishonesty; 

(v) any willful or intentional, misappropriation or embezzlement of the property of the Company or any of its subsidiaries (whether or not
a misdemeanor or felony); or 
 (vi) a material breach of any one or more of the covenants of this Agreement by Executive;

 provided, however, that in the event that the Company determines to terminate Executive’s employment pursuant to clauses
(i), (iii) or (vi) of this definition of Cause, such termination shall only become effective if the Company shall first give Executive written notice of such Cause, which notice shall identify in reasonable detail the manner in which the
Company believes Cause to exist and indicates the steps required to cure such Cause, if curable, and Executive shall fail within thirty (30) days of such notice to substantially remedy or correct the same. 

(d) Disability. For purposes of this Agreement, “Disability” shall mean, for a period of not less than 90 days within a given
twelve month period, Executive’s physical or mental incapacity to perform his/her essential functions, with or without reasonable accommodations therefore, which condition a mutually agreeable physician determines is likely to be continuous and
permanent. 
 (e) Voluntary Termination without Good Reason. For purposes of this Agreement, “Voluntary Termination without
Good Reason” shall mean any termination by Executive of Executive’s employment with the Company other than a Voluntary Termination with Good Reason. 

  
 2 

 (f) Voluntary Termination with Good Reason. For purposes of the Agreement, “Voluntary
Termination with Good Reason” shall mean the termination by Executive of Executive’s employment with the Company within forty-five (45) days following the occurrence of any of the following events without his/her consent, which is not
cured by the Company, if curable, within 30 days as described below: 
 (i) a material diminution in Executive’s duties and
responsibilities; 
 (ii) the Company materially reduces the compensation or benefits to which Executive is entitled as
determined immediately prior to the Change in Control; 
 (iii) a material breach of any one or more of the covenants of this
Agreement by the Company; or 
 (iv) if, as the result of a Change in Control (as defined below), the Company’s headquarters
offices are relocated to a location more than fifty miles away from their location prior to such Change in Control, necessitating Executive’s relocation to such new headquarters location. 

Provided, however, that Executive must provide the Company with written notice within fifteen (15) days following the occurrence of
an event or action constituting Good Reason and the Company shall have thirty (30) days following receipt of such notice to cure such event or action. 
 (g) Change in Control. For purposes of this Agreement, a “Change in Control” shall mean the first to occur of any of the following events: 

(i) during any 12-month period, the members of the board of directors of DRG (the “Incumbent Directors”) cease for any reason
other than due to death or disability to constitute at least a majority of the members of the board, provided that any director whose election, or nomination for election by DRG’s stockholders, was approved by a vote of at least a majority of
the members of the board who are at the time Incumbent Directors shall be considered an Incumbent Director, other than any such individual whose initial assumption of office occurs as a result of 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; 
 (ii) the acquisition or ownership by any individual, entity or “group” (within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)), other than the Company or any of its subsidiaries, or any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its subsidiaries, of beneficial ownership (within the meaning of Rule 13d-3 promulgated
under the Exchange Act) of 50% or more of the combined voting power of DRG’s then outstanding voting securities entitled to vote generally in the election of directors; 

  
 3 

 (iii) the merger, consolidation or other similar transaction of DRG, as a result of which
the stockholders of DRG immediately prior to such merger, consolidation or other transaction, do not, immediately thereafter, beneficially own, directly or indirectly, more than 50% of the combined voting power of the voting securities entitled to
vote generally in the election of directors of the merged, consolidated or other surviving company; or 
 (iv) the sale, transfer
or other disposition of all or substantially all of the assets of DRG to one or more persons or entities that are not, immediately prior to such sale, transfer or other disposition, Affiliates of the DRG. 

A “Change in Control” shall not be deemed to occur if the Company undergoes a bankruptcy, liquidation or reorganization under
the United States Bankruptcy Code. 
 (h) Date of Termination. For purposes of this Agreement, “Date of Termination”
shall mean the date on which Executive’s termination of employment with the Company occurs. 
 (i) Effective Date. The
Effective Date of this Agreement shall be the date first indicated above. 
 (j) Non-Competition Period. For purposes of this
Agreement, the “Non-Competition Period” will be the period described in Schedule A. 
 (k) Person. For purposes of this
Agreement, “Person” shall mean an individual, corporation, partnership, limited liability company, limited liability partnership, syndicate, person, trust, association, organization, or other entity, including any Governmental Entity, and
including any successor, by merger or otherwise, of any of the foregoing. 
 (l) Company. For purposes of this Agreement, the
“Company” shall mean DRG and its Affiliates. 
 2. EMPLOYMENT. Executive acknowledges and agrees that, unless Company and Executive
have entered an employment agreement approved by the CEO of Company, his/her employment with the Company is at-will in nature, and nothing herein shall be construed as a guarantee of continued employment for a specific period or under particular
terms or otherwise as having altered Executive’s at-will status. 

  
 4 

 3. CONFIDENTIALITY, NONCOMPETITION, ETC. 

(a) Confidentiality. 
 (i) Executive acknowledges that the business of the Company is intensely competitive and that Executive’s employment by the Company has required and will require that Executive have access to and
knowledge of confidential information of the Company, which the Company has provided to Executive in the past and hereby agrees to continue to provide to Executive during his/her future employment as necessary to perform his/her assigned duties.
Such confidential information includes, but is not limited to, formulae, manufacturing processes, distribution systems, research and development methods and techniques, the identity of the Company’s customers, the identity of the
representatives of customers with whom the Company has dealt, the kinds of services provided by the Company to customers and offered to be performed for potential customers, the manner in which such services are performed or offered to be performed,
the service needs of actual or prospective customers, pricing information, information concerning the creation, acquisition or disposition of products and services, customer maintenance listings, computer software applications and other programs,
personnel information and other trade secrets (the “Confidential Information”). Confidential Information shall not include information which (w) was publicly available prior to the date hereof, (x) was known by Executive from a
source other than through Executive’s employment with, or service as a director of, the Company, (y) is acquired by Executive from a third party who was not subject to any restrictions as to its disclosure, or (z) becomes publicly
available subsequent to the date hereof, other than as a result of an action by Executive. Executive expressly acknowledges the trade secret status of the Confidential Information and that the Confidential Information constitutes a protectable
business interest of the Company. Executive further acknowledges that the direct or indirect disclosure of any such Confidential Information would place the Company at a competitive disadvantage and would do damage, monetary or otherwise, to the
Company’s business and that the engaging by Executive in any of the activities prohibited by this Section 3 may constitute improper appropriation and/or use of such information and trade secrets. Executive further acknowledges that by
engaging in Competition (as defined below) with the Company, Executive necessarily would rely on and use some or all of the Confidential Information. 
 (ii) The Company and Executive agree that, for purposes of this Section 3, except as otherwise provided, the business of the Company shall mean the business conducted by the Company, or business that
the Company has definitive plans to conduct, during the period of Executive’s employment by the Company. Executive acknowledges that the Company engages in its business throughout the world. 

  
 5 

 (iii) During Executive’s employment by the Company and at all times following the
termination of Executive’s employment for any reason, Executive shall not, directly or indirectly, whether individually, as a director, stockholder, owner, partner, employee, principal or agent of any business, or in any other capacity, make
known, disclose, furnish, make available or utilize any of the Confidential Information, other than in the proper performance of the duties contemplated herein, or as required or requested by a court of competent jurisdiction or other administrative
or legislative body; provided, however, that, in such event, Executive shall promptly notify the Company so that the Company may seek a protective order or other appropriate remedy. If reasonably practicable, Executive shall notify the Company prior
to disclosing any of the Confidential Information to a court or other administrative or legislative body. Executive agrees to return all Confidential Information, including all photocopies, extracts and summaries thereof, and any such information
stored electronically on tapes, computer disks or in any other manner to the Company at any time upon request by the Company and upon the termination of his/her employment for any reason. 

(b) Non-Competition. During the Non-Competition Period, Executive shall not (i) in any city, town, county, parish or other
municipality in any state of the United States, or (ii) in any other market in the world that the Company or any of its successors or assigns engages in, or during the Term, has definitive plans to engage in, its business, directly or
indirectly engage in Competition (as defined below); provided, however, that it shall not be a violation of this sub-paragraph for Executive to become the registered or beneficial owner of up to five percent (5%) of any class of the capital
stock of a competing corporation registered under the Securities Exchange Act of 1934, as amended, provided that Executive does not actively participate in the business of such corporation until such time as this covenant expires. 

(c) Definition of Competition. For purposes of this Agreement, “Competition” means, for Executive’s benefit or for the
benefit of any other Person, firm or entity, any of the following: 
 (i) engaging in, or otherwise being employed by or acting
as a consultant or other service provider or lender to, or being a director, officer, employee, principal, licensor, trustee, broker, agent, stockholder, member, owner, joint venturer or partner of, any other business or organization anywhere in the
world which directly competes with the business of the Company as the same shall be constituted at any time during, or as to which the Company had specific plans known to Executive to engage in during or following, Executive’s employment;

 (ii) soliciting from any customer doing business with the Company as of Executive’s Date of Termination business directly
competitive with the business of the Company with such customer or such party; or 

  
 6 

 (iii) soliciting from any potential customer of the Company known to Executive business that
is directly competitive with the business of the Company which has been the subject of a written or oral bid, offer or proposal by the Company known to Executive, or of substantial preparation known to Executive with a view to making such a bid,
proposal or offer, within six (6) months prior to Executive’s Date of Termination. 
 (d) Solicitation of Company
Employees. During Executive’s employment with the Company and continuing through the date that is three (3) years after Executive’s Date of Termination for any reason, Executive will not solicit the employment or services of, or hire,
any individual who is employed by or known by Executive to be a consultant to the Company. In the event Executive’s employment with the Company has ended, the foregoing restriction on solicitation and hiring shall apply to any individual who
was employed by or known by Executive to be a consultant to the Company upon the Date of Termination or within six (6) months prior thereto, unless such Person is not an employee of, or a consultant to, the Company at the time of such
solicitation by Executive and has not been an employee of, or consultant to the Company for six (6) months prior thereto. 

(e) Acknowledgements Regarding Covenants. Executive acknowledges that (i) the market for the Company’s business extends
throughout the United States and the rest of the world, and that Executive, individually and through his/her status as an officer, is among a limited number of people engaged in the Company’s business on a nationwide and global basis;
(ii) the scope and duration of the restrictive covenants contained herein are reasonable and necessary to protect the value of the Company’s Confidential Information given the nature of such Confidential Information and of the
Company’s business; and (iii) the restrictive covenants and the other agreements contained herein are an essential part of this Agreement. Executive further represents and warrants and acknowledges and agrees that Executive has been, or
has had the opportunity to be, fully advised by counsel in connection with the negotiation, preparation, execution and delivery of this Agreement. 
 (f) Non-Disparagement. Executive agrees that both during and after termination of this Agreement he/she shall not make any statement, written or verbal, in any forum or media, or take any action, that is
intended to injure or damage the goodwill, reputation or business prospects of the Company; provided, however, that the foregoing shall not apply to or restrict in any way the communication of information by Executive to any state or federal law
enforcement or administrative agency or in a court, arbitration or administrative proceeding, and Executive will not be in breach of the covenant contained above solely by reason of such communication or testimony. 

  
 7 

 (g) Remedies. In the event Executive breaches any of the provisions of this Section 3,
the Company and its successors or assigns shall have the following rights and remedies, each of which shall be independent of the others and severally enforceable, and each of which shall be in addition to, and not in lieu of, any other rights or
remedies available to the Company or any of its successors or assigns at law or in equity under this Agreement or otherwise: 

(i) The right and remedy to have each and every one of the covenants in this Section 3 specifically enforced and the right and remedy
to obtain injunctive relief, it being agreed that any breach or threatened breach of any of the non-competition or other restrictive covenants and agreements contained herein would cause irreparable injury to the Company and its successors or
assigns and that money damages would not provide an adequate remedy at law to the Company and its successors or assigns. 
 (ii)
Executive acknowledges and agrees that the restrictive covenants and agreements contained herein are reasonable and valid in geographic, temporal and subject matter scope and in all other respects. If, however, any arbitrator or court subsequently
determines that any of such covenant or agreement, or any part thereof, is invalid or unenforceable as written, then such provision shall be reformed to the extent necessary (and to no greater extent) to be valid and enforceable. If such provision
cannot be so reformed, it shall be deemed struck by the parties and the remainder of such covenants and agreements shall not thereby be affected and shall be given full effect without regard to the invalid portions. 

(iii) If any arbitrator or court determines that any of the restrictive covenants and agreements, or any part thereof, is unenforceable
because of the duration or scope of such provision, such arbitrator or court shall have the power to reduce the duration or scope of such provision, as the case may be, and, in its reduced form, such provision shall then be enforceable to the
maximum extent permitted by applicable law. 
 4. RETURN OF COMPANY PROPERTY. Executive agrees that following the termination of employment for
any reason, Executive shall return all property of the Company and any of its subsidiaries and any divisions thereof which is then in or thereafter comes into Executive’s possession, including, but not limited to, documents, contracts,
agreements, plans, photographs, books, notes, electronically stored data and all copies of the foregoing as well as any automobile or other materials or equipment supplied by the Company to Executive. 

  
 8 

 5. OWNERSHIP OF INVENTIONS. Executive shall disclose promptly, to such person(s) as may be designated by the
Company for this purpose from time-to-time, any and all information relating to all Inventions (as hereinafter defined) which Executive makes or conceives or first reduces to practice during his/her employment hereunder. The term
“Inventions” for purposes of this Agreement shall mean all inventions, improvements, works of authorship, formulas, processes, methods, computer programs, databases, and trade secrets (whether patentable or not) made or conceived or first
reduced to practice by Executive solely, or jointly with others, (i) in the performance of his/her duties, (ii) with the use of time, material or facilities of the Company, (iii) which relate to the Company’s business, including
any actual or anticipated product, method, apparatus, substance or article of manufacture within the Company’s field of activity or its research and development efforts, or (iv) which results from or is suggested by work performed for the
Company. Executive acknowledges that all Inventions shall be the exclusive property of the Company and, to the extent that the ownership of such Invention does not vest in the Company as a matter of law, he/she hereby assigns and shall continue to
assign to the Company, without further compensation, his/her entire right, title and interest in and to all such Inventions and shall execute all documents which the Company may deem necessary with respect thereto. Executive shall make, at the sole
discretion and expense of the Company, such applications for United States and foreign patents covering any Inventions as the Company may request. Executive shall execute, acknowledge and deliver all papers, including applications, renewals,
assignments, and applications for re-issue, and do all other rightful acts which the Company may consider necessary, to secure the Company’s full rights to the Inventions to secure patents or other registrations thereon, and to enforce the
Company’s rights therein. The foregoing obligations shall survive the termination of employment with the Company; provided, however, that the Company will compensate Executive at a reasonable rate after such termination for time or expenses
actually spent at the Company’s request on such matters. 
 Executive represents, warrants and covenants that: (i) he/she does not
have applications for patents pending, either domestic or foreign, (ii) there is no invention now in his/her possession which he/she will claim to be excluded herefrom, (iii) his/her performance of the foregoing disclosure and assignment
provisions, and his/her performance of his/her duties as an employee of the Company will not breach any invention assignment or proprietary information agreement with any former employer or other party, and (iv) he/she will not bring to the
Company or use in the performance of his/her duties with the Company any documents or materials of a former employer or third party that are not generally available to the public or have not been legally transferred to the Company. 

6. SEVERANCE UPON TERMINATION WITHOUT CHANGE IN CONTROL. 
 (a) Time of Termination. Notwithstanding any provision of this Agreement to the contrary, the employment of Executive hereunder shall terminate on the first to occur of the following dates: 

(i) the date of Executive’s death or Disability (as defined above); 

(ii) the date on which the Company shall give Executive written notice of termination with or without Cause (as defined below);

 (iii) the date on which Executive gives the Company written notice of Voluntary Termination with or without Good Reason (as
defined below). 

  
 9 

 (b) Payments After Involuntary Termination Without Cause. In the event Executive’s
employment hereunder is involuntarily terminated by the Company without Cause (and provided that such termination is not within two (2) years following a Change in Control as defined in Section 7 below), subject to Executive’s
compliance with Section 6(d), Executive (or the duly-appointed personal representative of Executive’s estate, if applicable) shall be entitled to receive, as Executive’s sole and exclusive remedy, (i) a payment equal to
“Standard Severance Amount” defined in Schedule A, payable in a lump sum payment and subject to withholding of all applicable taxes with respect thereto and deductions for insurance contributions), (ii) any earned but unpaid salary
and payment for accrued but unused vacation days, subject to and in accordance with Company policies, through the Date of Termination, (iii) any bonus amount under the Company’s Annual Incentive Plan previously earned in full but not yet
paid for fiscal years of the Company prior to the fiscal year in which the Date of Termination occurs, and (iv) continued medical, dental, disability, and life coverage as provided to Executive and his/her eligible dependents immediately prior
to such termination for one (1) year following such termination and the Company shall reimburse Executive on a monthly basis for the difference between the amount Executive pays to effect and continue such coverage and the employee contribution
amount that active executives of the Company pay for the same or similar coverage. 
 (c) Termination for Cause or Voluntary
Termination With or Without Good Reason. The Company shall be entitled at any time, upon written notice to Executive, to terminate Executive’s employment hereunder for Cause. In the event that Executive’s employment hereunder shall be
terminated for Cause, or due to a Voluntary Termination by Executive with or without Good Reason, Executive shall be entitled to receive, as his/her sole and exclusive remedy, (i) any earned but unpaid salary and payment for accrued but unused
vacation days, subject to and in accordance with Company policies, through the Date of Termination and (ii) any bonus amount under the Company’s Annual Incentive Plan previously earned in full but not yet paid for fiscal years of the
Company prior to the fiscal year in which the Date of Termination occurs. 
 (d) Release Requirement for Post-Termination
Payments. As condition to the receipt of any severance benefits pursuant to Section 6 or Section 7, Executive shall execute, and not revoke, a release within 52days of the Date of Termination, in the form attached hereto as Schedule B,
with such changes as the Company may determine are necessary or reasonably required to take into account applicable state or federal law, releasing the Company, and its subsidiaries, and its officers, directors, employees, and agents, from any and
all claims and from any and all causes of action of any kind or character, including, but not limited to, all claims and causes of action arising out of Executive’s employment with the Company or the termination of such employment; provided
that Executive shall not be expected to waive any rights accruing under this Agreement; and provided further that if Executive refuses to sign such release Executive will still be bound to his/her obligations under this Agreement as if Executive
signed such release and received severance benefits pursuant to Section 6 or Section 7. Notwithstanding the foregoing, nothing in the required release or in any other provision of this Agreement shall alter any rights Executive may have
(i) with regard to equity awards pursuant to the controlling grant agreements and plan documents, and (ii) with regard to indemnification rights that may exist by virtue of Executive’s previous employment with the Company. 

  
 10 

 7. SEVERANCE UPON TERMINATION FOLLOWING A CHANGE IN CONTROL. 

(a) Termination Following Change in Control. In the event Executive’s employment hereunder shall terminate as a result of
(i) termination by the Company without Cause, or (ii) Voluntary Termination by Executive with Good Reason, within two (2) years following the occurrence of a Change in Control, subject to Executive’s compliance with
Section 6(d), Executive (or the duly-appointed personal representative of Executive’s estate, if applicable) shall be entitled to receive, as Executive’s sole and exclusive remedy, (i) a payment equal to the
“Change-In-Control Severance Amount” defined in Schedule A, payable in a lump sum payment and subject to withholding of all applicable taxes with respect thereto and deductions for insurance contributions), (ii) any earned but unpaid
salary and payment for accrued but unused vacation days, subject to and in accordance with Company policies, through the Date of Termination, (iii) any bonus amount under the Company’s Annual Incentive Plan previously earned in full but
not yet paid for fiscal years of the Company prior to the fiscal year in which the Date of Termination occurs, and (iv) continued medical, dental, disability, and life coverage as provided to Executive and his/her eligible dependents
immediately prior to such termination for two (2) years following such termination and the Company shall reimburse Executive on a monthly basis for the difference between the amount Executive pays to effect and continue such coverage and the
employee contribution amount that active executives of the Company pay for the same or similar coverage. 
 8. EXCISE TAX. 

(a) Reduction. In the event it shall be determined that any payment or distribution in the nature of compensation (within the meaning of
Section 280G(b)(2) of the Code) to or for the benefit of Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement (including, without limitation, the accelerated vesting of incentive or equity
awards held by Executive) or otherwise (“Payments”) (i) constitute “parachute payments” within the meaning of Section 280G of the Code, and (ii) but for this Section 8 would be subject to the excise tax
imposed by Section 4999 of the Code, or any comparable successor provisions (the “Excise Tax”), then the Payments hereunder shall be either (a) provided to Executive in full, or (b) provided to Executive as to such lesser
extent which would result in no portion of such benefits being subject to the Excise Tax, whichever of the foregoing amounts, when taking into account applicable federal, state, local and foreign income and employment taxes, the Excise Tax, and any
other applicable taxes, results in the receipt by Executive, on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under the Excise Tax. If a reduction in Payments
constituting “parachute payments” is necessary, the Payments hereunder shall be reduced in a manner that provides Executive with the best economic benefit and, to the extent any portions of the Payments hereunder are economically
equivalent with each other, each will be reduced pro rata. 

  
 11 

 (b) Other Terms. All determinations required to be made under this Section 8 shall be
made by the Company’s accounting firm (the “Accounting Firm”). The Accounting Firm shall provide detailed supporting calculations both to the Company and Executive. All fees and expenses of the Accounting Firm shall be borne solely by
the Company. Absent manifest error, any determination by the Accounting Firm shall be binding upon the Company and Executive. For purposes of making the calculations required by this Section 8, the Accounting Firm may make reasonable
assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of the Code and other applicable legal authority. The Company and Executive shall furnish to the Accounting
Firm such information and documents as the Accounting Firm may reasonably request in order to make a determination under this Section 8. 

9. TIME OF PAYMENT; SECTION 409A. 
 (a) Time of Payment. Unless otherwise provided in this Agreement or the Company’s Annual Incentive Plan, all of the payments due to Executive under Sections 6(b), 6(c) and 7(a) above shall be made on
the sixtieth (60th) day following the Date of Termination. 
 (b) Section 409A of the Code. Notwithstanding anything to
the contrary contained herein, this Agreement is intended to satisfy the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the Treasury Regulations and other guidance
thereunder. Accordingly, all provisions herein, or incorporated by reference, shall be construed and interpreted in a manner which is either exempt from or compliant with Section 409A of the Code. Further, for purposes of Section 409A of
the Code, each payment of compensation under this Agreement shall be treated as a separate payment of compensation. Any reimbursement or in-kind benefit provided under this Agreement which constitutes a “deferral of compensation” within
the meaning of Treasury Regulation Section 1.409A-1(b) shall be made or provided in accordance with the requirements of Section 409A of the Code, including, where applicable, the requirement that (i) any reimbursement is for expenses
incurred during the period of time specified in this Agreement, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind
benefits to be provided, in any other calendar year, (iii) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred, and (iv) the right to
reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. Further notwithstanding anything to the contrary in this Agreement, with respect to any amounts payable to Executive under this Agreement in connection
with a termination of Executive’s employment that would be considered “non-qualified deferred compensation” under Section 409A of the Code, in no event shall a termination of employment be considered to have occurred under this
Agreement unless such termination constitutes Executive’s “separation from service” with the Company as such term is defined in Treasury Regulation Section 1.409A-1(h), and any successor provision thereto. 

  
 12 

 (c) Specified Employee Postponement. Notwithstanding any provision in this Agreement to the
contrary, if the payment of any compensation or benefit hereunder (including, without limitation, any severance benefit) would be subject to additional taxes and interest under Section 409A of the Code because the timing of such payment is not
delayed as provided in Section 409A(a)(2)(B) of the Code, then any such payment or benefit that Executive would otherwise be entitled to during the first six (6) months following the Date of Termination shall be accumulated and paid or
provided, as applicable, on the date that is six (6) months and one (1) day after the Date of Termination (or if such date does not fall on a business day of the Company, the next following business day of the Company), or such earlier
date upon which such amount can be paid or provided under Section 409A of the Code without being subject to such additional taxes and interest. 
 (d) Right to Consult a Tax Advisor. Notwithstanding any contrary provision in this Agreement, Executive shall be solely responsible for any risk that the tax treatment of all or part of any payments
provided by this Agreement may be affected by Sections 409A or 280G of the Code, which may impose significant adverse tax consequences, except that Executive shall not be liable for any failure to report or failure to withhold penalties asserted
against the Company. Because of the potential tax consequences, Executive has the right, and is encouraged by this paragraph, to consult with a tax advisor of his/her or her choice before signing this Agreement. 

10. ENTIRE AGREEMENT. This Agreement sets forth the entire agreement between the parties with respect to its subject matter hereof and merges and
supersedes all prior discussions, agreements and understandings of every kind and nature between them. This Agreement may not be changed or modified except by an agreement in writing, signed by the parties hereto. 

  
 13 

 11. EACH PARTY THE DRAFTER. This Agreement and the provisions contained herein shall not be construed or
interpreted for or against any party to this Agreement because that party drafted or caused that party’s legal representative to draft any of its provisions. 
 12. WAIVER. The failure of either party to this Agreement to enforce any of its terms, provisions, or covenants shall not be construed as a waiver of the same or of the right of such party to enforce the
same. Waiver by either party hereto of any breach or default by the other party of any term or provision of this Agreement shall not operate as a waiver of any other breach or default. 
 13. SEVERABILITY. In the event that any one or more of the provisions of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remainder of
the Agreement shall not in any way be affected or impaired thereby. Moreover, if any one or more of the provisions contained in this Agreement shall be held to be excessively broad as to duration, activity or subject, such provisions shall be
construed by limiting and reducing them so as to be enforceable to the maximum extent allowed by applicable law. 
 14. NOTICES. Any notice
given hereunder shall be in writing and shall be deemed to have been given when delivered by messenger or courier service (against appropriate receipt), or mailed by registered or certified mail (return receipt requested), addressed as follows:

 If to the Company: 
 Dresser-Rand Group Inc. 
 West8Tower, Suite 1000 

10205 Westheimer 

Houston, Texas 77042 
 Attention: General Counsel 
 If to Executive: 

at the home address of record as last provided 
 to the Company by Executive 
 or at such other address as shall be indicated to
either party in writing. Notice of change of address shall be effective only upon receipt. 
 15. ARBITRATION; EXPENSES OF ENFORCEMENT. Except
as otherwise specifically provided in this Agreement, the Company and Executive agree to submit exclusively to final and binding arbitration any and all disputes or disagreements relating to or concerning the interpretation, performance or subject
matter of this Agreement in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association (“AAA”) using a mutually acceptable single arbitrator. The arbitration will take place in
Houston, Texas. Executive and the Company agree that the decision of the arbitrator will be final and binding on both parties. Arbitration shall be commenced by either party filing a demand for arbitration with the AAA within 60 days after such
dispute has arisen. Each party in such an arbitration proceeding shall be responsible for the costs and expenses incurred by such party in connection therewith (including attorneys’ fees) which shall not be subject to recovery from the other
party in the arbitration except that any and all charges that may be made for the cost of the arbitration and the fees of the arbitrator which shall in all circumstances be paid by the Company. Any court having jurisdiction may enter a judgment upon
the award rendered by the arbitrator, but any action seeking such a judgment must be filed in the forum described in Section 17 hereof. Notwithstanding the provisions of this Section 15, the Company may, if it so chooses, bring an action
in any court of competent jurisdiction for injunctive relief to enforce Executive’s obligations under Sections 3, 4, or 5 hereof. 

  
 14 

 16. GOVERNING LAW. This Agreement shall be governed by and construed in accordance with the laws of the
State of Texas, without regard to its conflict of law rules. 
 17. JURISDICTION; FORUM; JURY-TRIAL WAIVER. By the execution and delivery of
this Agreement, the Company and Executive submit to the personal jurisdiction of and venue in any state or federal court in the City of Houston, County of Harris, State of Texas in any suit or proceeding arising out of or relating to this Agreement.
To the extent that either party hereto has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or
otherwise) with respect to itself or its property, the parties each irrevocably waives such immunity in respect of its obligations with respect to this Agreement. This Section 17 is subject to the provisions of Section 15 hereof. THE
PARTIES HERETO AGREE THAT THEY HEREBY IRREVOCABLY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY ACTION TO ENFORCE, OR INTERPRET, OR OTHERWISE RELATED TO THE PROVISIONS OF THIS AGREEMENT. 
 18. DODD-FRANK ACT. As a condition of the Agreement, Executive (i) shall abide by any compensation recovery, recoupment, anti-hedging or other policy applicable to executives of the Company and its
Affiliates, as may be in effect from time to time, as approved by the Board or a duly authorized committee thereof or as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”) or other
applicable law, and (ii) acknowledges and agrees that the Agreement shall be deemed automatically amended as may be necessary from time to time to ensure compliance with such policies, the Dodd-Frank Act, or other applicable law. 

19. INTERPRETATION. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement. Whenever the words “include” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” 

20. COUNTERPARTS. This Agreement may be executed in one or more counterparts, which, together, shall constitute one and the same agreement. 

  
 15 

 21. CONFLICT. In the event of a conflict between the terms of this Agreement and the terms of any present or
future plan, policy or procedure of the Company or any agreement between the Company and Executive, including but not limited to a stock option agreement or a restricted share agreement, the terms of this Agreement shall take precedence and govern.

 22. TERM AND TERMINATION. The term of this Agreement (the “Term”) shall commence on the Effective Date and end on the anniversary
of the Effective Date first following six months prior notice by DRG of its election to terminate the Agreement, unless prior to DRG giving such notice or prior to the date the Agreement would otherwise terminate, either: 

(a) the employment of Executive is terminated by the Company without Cause (and provided that such termination is not within two
(2) years following a Change in Control as defined in Section 7), in which case the Term shall end on the last day of the one-year period following the Date of Termination; or 

(b) a Change in Control shall have occurred, in which case the Term shall end on the last day of the two-year period beginning on the date
following the occurrence of a Change in Control (as applicable, the “Agreement Termination Date”). The rights and obligations of the parties hereunder arising before, on, or after the Agreement Termination Date, including, without
limitation, the obligation of the Company to make payments pursuant to Sections 6 and 7, if any, and the obligations of Executive to honor the restrictive covenants shall survive the termination of the Agreement until fully discharged or satisfied.

 [Remainder of page intentionally left blank; signature page to follow] 

  
 16 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement on the day and year
first above written. 
 DRESSER-RAND GROUP INC. 
  

			
	By:	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 EXECUTIVE

		
	 By:
	 	  

  
 17 

 SCHEDULE A 
 For purposes of the foregoing Agreement, the additional terms listed below shall have the definitions indicated. 
 (a) Standard Severance Amount. For purposes of this Agreement, “Standard Severance Amount” shall mean an amount equal to
            times Executive’s Base Salary (determined as of the Date of Termination). For purposes of this definition, Executive’s Base Salary shall be determined without regard
to any reduction in compensation that would otherwise constitute Good Reason under Section 1(f)(ii) of this Agreement occurring within three months preceding the Date of Termination. 
 (b) Change-In-Control Severance Amount. For purposes of this Agreement, “Change-In-Control Severance Amount” shall mean an amount equal to
            times the sum of Executive’s Base Salary and annual incentive at target (determined as of the Date of Termination). For purposes of this definition, Executive’s Base
Salary shall be determined without regard to any reduction in compensation that would otherwise constitute Good Reason under Section 1(f)(ii) of this Agreement occurring within three months preceding the Date of Termination. 

(c) Non-Competition Period. For purposes of this Agreement, the “Non-Competition Period” shall be the period during the Term and if
Executive’s employment has terminated during the Term continuing through the later of (i) the date that is one (1) year after Executive’s Date of Termination, or (ii) the date that is two (2) years after
Executive’s Date of Termination in the event Executive’s employment terminates as a result of termination by the Company without Cause or Voluntary Termination by Executive with Good Reason if either occurs within two (2) years
following the occurrence of a Change in Control. 

  
 18 

 SCHEDULE B 
 DO NOT SIGN PRIOR TO 
 FINAL DAY OF EMPLOYMENT 

RELEASE AGREEMENT 
 This RELEASE
AGREEMENT (“Release Agreement”) is made between DRESSER-RAND GROUP INC., a Delaware corporation (the “Company”) and            (“Executive”). 

WITNESSETH 
 WHEREAS, Executive
and the Company have entered into a Confidentiality, Non-Compete, Severance, and Change In Control Agreement dated as of             , 201     (the
“Agreement”); 
 WHEREAS, pursuant to Sections 6 and 7 of the Agreement, the Company has agreed to provide certain severance payments
to Executive if Executive executes this Release Agreement and does not revoke Executive’s consent to this Release Agreement; and 

WHEREAS, this Release Agreement and the Company’s obligations under Sections 6 and 7 of the Agreement (as may be applicable) shall become effective
only upon the “Effective Date” of this Release Agreement (as defined below). 
 NOW, THEREFORE, in consideration of the premises and
mutual covenants contained herein and for other good and valuable consideration, the receipt of which is mutually acknowledged, the Company and Executive agree as follows: 

 

	1.	Release. 

 (a) Executive, on
behalf of himself, his/her heirs, executors, administrators, successors and assigns, hereby releases, discharges in full and agrees to waive and forego any right he or she may have to commence a lawsuit against the Company, its predecessors,
successors, parents, subsidiaries, operating units, Affiliates, divisions and the agents, representatives, officers, directors, shareholders, employees and attorneys of each of the foregoing (individually and collectively called the “Company
Releasees”), from and for all rights, claims, debts, liabilities, demands, obligations, promises, acts, agreements, costs, expenses, damages, actions and causes of action, whether in law or in equity, whether known or unknown, suspected or
unsuspected, arising from or in any way relating to Executive’s employment with, and termination from, the Company up to and through the Effective Date, including but not limited to, any and all claims pursuant to Title VII of the Civil Rights
Act of 1964, 42 U.S.C. §2000e, et seq., as amended by the Civil Rights Act of 1991, which prohibits discrimination in employment based on race, color, creed, national origin, religion or sex; the Civil Rights Act of 1866, 42 U.S.C.
§§1981, 1983 and 1985, which prohibits violations of civil rights; the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. §621, et seq., which protects certain employee benefits; the Americans with Disabilities Act
of 1990, as amended, 42 U.S.C. §12101, et seq., which prohibits discrimination against the disabled; the Age Discrimination in Employment Act of 1967, 29 U.S.C.§621, et seq., as amended by the Older Workers Benefit Protection Act of 1990,
which prohibits discrimination against those 40 years of age and older (the “ADEA”); the Family and Medical Leave Act of 1993, 29 U.S.C. §2601, et seq., as amended, which provides certain leave rights for medical and other
circumstances; the Fair Labor Standards Act, 42 U.S.C. §201, et seq., including the Wage and Hour Law relating to payment of wages; the Worker Adjustment and Retraining Notification Act, which requires certain notices in the event of plant
shutdowns and mass layoffs; the Uniformed Services Employment and Reemployment Rights Act of 1994, as amended; and all other federal, state or local laws or regulations. This Release also includes, but is not limited to, a release of any claims for
breach of contract, tortious or negligent conduct, mental pain and anguish, impairment of economic opportunities, unlawful interference with employment rights, defamation, intentional or negligent infliction of emotional distress, fraud,
misrepresentation, wrongful or constructive discharge, retaliation, wrongful discharge in violation of public policy, breach of any express or implied covenant of good faith and fair dealing, bad faith, unpaid hours worked, overtime pay, vacation
pay, punitive damages, compensatory damages, back pay, reinstatement, front pay, liquidated damages, injunctive and other equitable relief, costs or attorneys’ fees, based on or arising from or in any way relating to Executive’s employment
with the Company and/or termination of employment. Executive is not waiving any rights or claims that may arise under the ADEA or otherwise after the Effective Date, and this Release Agreement shall not include any rights provided under the bylaws
of the Company or its parents and the Company’s benefit plans and agreements with Executive related thereto, including but not limited to stock options, and restricted stock plans and agreements. 

  
 19 

 THE PRECEDING PARAGRAPH MEANS THAT, UPON RECEIPT OF THE PAYMENT DESCRIBED IN THIS RELEASE,
EXECUTIVE WILL HAVE WAIVED ANY RIGHT EXECUTIVE MAY HAVE TO BRING A LAWSUIT OR MAKE ANY LEGAL CLAIM OR DEFENSE AGAINST THE COMPANY RELEASEES BASED ON ANY ACTIONS TAKEN BY THE COMPANY RELATED TO THE SUBJECT MATTER OF THIS RELEASE UP TO AND INCLUDING
THE EFFECTIVE DATE. 
 (b) Executive shall execute the Release Agreement on a date which is no earlier than the date upon which
Executive’s employment is terminated. 

  
 20 

 (c) Executive acknowledges and agrees that the Company has fully satisfied any and all
obligations owed to Executive arising out of Executive’s employment with the Company, exclusive of any ongoing obligations of the Company under the Agreement (including but not limited to the obligation to provide severance pay and benefits to
Executive under Sections 6 and 7 thereof) and any rights provided under the Company’s bylaws and the Company’s benefit plans and agreements with Executive related thereto, including but not limited to stock options, and restricted stock
plans and agreements. Executive further acknowledges and agrees that the benefits to which Executive is entitled upon the effective date of this Release Agreement are in addition to anything of value to which Executive is otherwise entitled, and
that the Company and the other Company Releasees have fully complied with their COBRA continuation coverage obligations. 
 (d)
Executive represents that he/she has no complaints, charges, or lawsuits pending against the Company or any of the other Company Releasees. Executive further covenants and agrees that neither he/she nor his/her heirs, executors, administrators,
successors or assigns will be entitled to any Personal recovery in any proceeding of any nature whatsoever against the Company or any of the other Company Releasees arising out of any of the matters released in this Section 1. 

(e) Executive has resigned from all positions, if any, with the board of directors of the Company and any officer and/or director
positions of any parent, subsidiary, or Affiliate of the Company. 
 2. Return of Company Property. Executive represents and agrees that
Executive has returned to the Company all property of the Company or any of the Company Releasees, including, but not limited to, documents, contracts, agreements, plans, photographs, books, notes, reports, files, memoranda, records and software,
credit cards, cardkey passes, door and file keys, computer access codes or disks and instructional manuals, and other physical or electronic property that Executive received and/or prepared or helped prepare in connection with Executive’s
employment with the Company, and that Executive has not retained any copies, duplicates, reproductions or excerpts thereof. 
 3. No Admission
of Wrongdoing. Nothing herein is to be deemed to constitute an admission of wrongdoing by the Company or any of the other Company Releasees. 

4. Consultation with Attorney/Voluntary Agreement. Executive acknowledges that (i) the Company has advised and hereby does advise Executive of
his/her right to consult with an attorney prior to executing this Release Agreement, (ii) Executive has carefully read and fully understands all of the provisions of this Release Agreement, and (iii) Executive is entering into this Release
Agreement, including the releases set forth in Section 1 above, knowingly, freely and voluntarily in exchange for good and valuable consideration. 

  
 21 

 5. Consideration & Revocation Period. 

(a) Executive acknowledges that he/she has been provided at least twenty-one (21) calendar days to consider the terms of this Release
Agreement, although he/she may sign it sooner. 
 (b) Executive will have seven (7) calendar days from the date on which
he/she signs this Release Agreement to revoke his/her consent to the terms of this Release Agreement. Such revocation must be in writing and must be addressed as follows: General Counsel, Dresser-Rand Group Inc., West8Tower, 10205 Westheimer,
Houston, Texas 77042. Notice of such revocation must be received within the seven (7) calendar days referenced above. In the event of such revocation by Executive, this Release Agreement shall not become effective and Executive shall not have
any rights to severance benefits under Section 6 or 7 of the Agreement. 
 (c) Provided that Executive does not revoke this
Release Agreement, this Release Agreement shall become effective on the eighth (8th) calendar day after the date on which Executive signs this Release Agreement (the “Effective Date”). 

6. Assignment. This Release Agreement is Personal to Executive and may not be assigned by Executive. This Agreement will inure to the benefit of the
Company and the other Company Releasees and their successors and assigns. 
 7. Waiver and Amendments. Any waiver, alteration, amendment, or
modification of any of the terms of this Release Agreement shall be valid only if made in writing and signed by the parties hereto; provided, however, that any such waiver, alteration, amendment, or modification is consented to on the Company’s
behalf by a properly authorized corporate officer. No waiver by either of the parties hereto of their rights hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions hereunder unless such waiver
specifically states that it is to be construed as a continuing waiver. 
 8. Severability and Governing Law. If any covenants or such other
provisions of this Release Agreement are found to be invalid or unenforceable by a final determination of a court of competent jurisdiction (a) the remaining terms and provisions hereof shall be unimpaired and (b) the invalid or
unenforceable term or provision hereof shall be deemed replaced by a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision hereof. THIS RELEASE AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, WITHOUT REGARD TO ITS CONFLICT OF LAW RULES. 
 9. Section
Headings and Definitions. The headings contained in this Release Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Release Agreement. Whenever the words “include” or
“including” are used in this Release Agreement, they shall be deemed to be followed by the words “without limitation.” Capitalized terms not defined in this Release Agreement shall have the meaning given to such terms in the
Agreement. 

  
 22 

 10. Entire Agreement. This Release Agreement and the Agreement constitute the entire understanding and
agreement of the parties hereto regarding the employment and termintion of Executive. This Release Agreement supersedes all prior negotiations, discussions, correspondence, communications, understandings, and agreements between the parties relating
to the subject matter of this Release Agreement, except that Sections 1.(j), 3., 4., 5., and Schedule A, Section (c) of the Agreement shall continue in full force and effect. 
 11. Jurisdiction; Forum. Executive acknowledges that any disputes under the Agreement or this Release Agreement shall be subject to the arbitration provisions of Section 15 of the Agreement. Subject
to that provision, by the execution and delivery of this Release Agreement, Executive submits to the personal jurisdiction of any state or federal court of and for Houston, Harris County, Texas in any suit or proceeding arising out of or relating to
this Release Agreement. To the extent that Executive may acquire any immunity from jurisdiction of any Texas court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution
or otherwise) with respect to himself or his/her property, Executive irrevocably waives such immunity in respect of his/her obligations with respect to this Release Agreement. Executive agrees that an appropriate, convenient and non-exclusive forum
for any and all disputes between the parties hereto arising out of this Release Agreement or the transactions contemplated hereby shall be in any state or federal court in the State of Texas. 
 12. Duplicative Payments and Benefits. Notwithstanding any provision of the Agreement or this Release Agreement to the contrary, the payments and benefits provided hereunder shall be in lieu of any
payments and benefits that otherwise would be payable pursuant to any other severance policy or agreement of the Company (including the Dresser-Rand Company Severance Pay Plan) to the extent permitted by law and, if a severance payment or benefit is
required by any law, plan, contract or other obligation in connection with (i) termination of employment with the applicable Affiliate of DRG that would trigger payments and benefits pursuant to Sections 6 or 7 of the Agreement, or (ii) by
application of other obligations set forth in the Agreement or this Release Agreement, including the restrictive covenants, then any amount to be paid under the Agreement or this Release Agreement shall be reduced by the amount that is legally
required to be paid pursuant to such law, plan, contract, or as a result of such other obligations, provided that said reduction shall not exceed amount to be paid under the Agreement or this Release Agreement. With respect to any reduction in the
payment amount hereunder arising from a requirement pursuant to any law, plan or contract to make a payment for a restrictive covenant, the amount of the reduction shall be determined by taking into account the full duration of the restrictive
covenant that would be applicable to the Executive. 

  
 23 

 13. Counterparts. This Release Agreement may be executed in two or more counterparts, each of which shall be
deemed to be an original but all of which together shall constitute one and the same instrument. The execution of this Release Agreement may be by actual or facsimile signature. 
 IN WITNESS WHEREOF, the undersigned have executed this Release Agreement as of the dates indicated below. 
 DRESSER-RAND GROUP INC. 
  

			
	By:	 	  

	Date:	 	  

	Title:	 	  

		 	
		 	
	  

	Executive
		
	Date:	 	

  
 24

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