Document:

EXHIBIT 4.1

THIRD AMENDMENT TO LOAN AGREEMENT

            THIS THIRD AMENDMENT TO LOAN AGREEMENT (this "Amendment") is made and entered into as of the 10th day of February, 2006, by and among (a) LABARGE, INC., a Delaware
corporation (the “Company”) and LABARGE ELECTRONICS, INC., a Missouri corporation (“LaBarge Electronics”) (individually, a “Borrower” and collectively, the “Borrowers”), (b) U.S. BANK NATIONAL ASSOCIATION and NATIONAL
CITY BANK OF PENNSYLVANIA (individually, a “Lender” and collectively, the "Lenders") and (c) U.S. BANK NATIONAL ASSOCIATION, as agent for the Lenders (in such capacity, the “Agent”).

WITNESSETH:

            WHEREAS, the Borrowers, the Lenders and the Agent are parties to that certain Loan Agreement dated as of February 17, 2004, as amended by that certain First Amendment to
Loan Agreement dated as of April 16, 2004, and that certain Second Amendment to Loan Agreement dated as of August 18, 2005 (as so amended, the "Loan Agreement"; all capitalized terms used and not otherwise defined in this Amendment shall have the respective meanings
ascribed to them in the Loan Agreement as amended by this Amendment); and

            WHEREAS, the Borrowers, the Lenders and the Agent desire to amend the Loan Agreement in the manner hereinafter set forth;

            NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Borrowers, the Lenders and the Agent hereby agree as follows:

            1.         The first “WHEREAS” clause on page 1 of the Loan Agreement is hereby deleted in its entirety and the
following substituted in lieu thereof:

            “WHEREAS, (a) the Company has applied for a revolving credit facility from the Lenders consisting of revolving credit loans and letters of credit in an aggregate
principal amount of up to $30,000,000.00 and (b) LaBarge Electronics has applied to the Lenders for a term loan from the Lenders in the aggregate original principal amount of $25,000,000.00; and”

            2.         The definition of “Borrowing Base” set forth in Section 1.01 of the Loan Agreement is hereby deleted in
its entirety and the following substituted in lieu thereof:

            “Borrowing Base shall mean, as of the date of any determination thereof, the sum of (a) Eighty-Five Percent (85%) of the face amount of the Eligible
Accounts of each of the Company, LaBarge Electronics and LaBarge/STC as of such date (less maximum discounts, credits and allowances which may be taken by or granted to Account Debtors in connection therewith and/or adjustments for reserves and allowances deemed
appropriate by the Agent in its good faith discretion) plus (b) Thirty-Five Percent (35%) of the Eligible Inventory of each of the Company, LaBarge Electronics and LaBarge/STC as of such date, valued at the lower of cost or market in accordance with GAAP;
provided, however, that in no event may the portion of the Borrowing Base comprised of Eligible Inventory exceed Fifty Percent (50%) of the total Borrowing Base (for example, if (before giving effect to this proviso) the portion of the Borrowing Base comprised of
Eligible Accounts was $10,000,000.00 and the portion of the Borrowing Base comprised of Eligible Inventory was $15,000,000.0, the total Borrowing Base (after giving effect to this proviso) would be $22,500,000.00 ($10,000,000.00 + $12,500,000.00). Notwithstanding any
provision contained in this definition of “Borrowing Base” to the contrary, the Lenders may at any time and from time to time, in their sole and absolute discretion, loan to the Company more than the above stated percentage of Eligible Accounts and/or
more than the above stated percentage of the value of Eligible Inventory, without notice to the Company; provided, however, that no such over-advance shall establish a custom or course of dealing or entitle the Company to any subsequent over-advance under the same or
different circumstances.”

            3.         The definition of “Pro Rata Share” set forth in Section 1.01 of the Loan Agreement is hereby deleted in
its entirety and the following substituted in lieu thereof:

            “Pro Rata Share shall mean for the item at issue, with respect to each Lender, a percentage, the numerator of which is the portion of such item owned or
held by such Lender and the denominator of which is the total amount of such item owned or held by all of the Lenders.  For example, (a) if the amount of the Revolving Credit Commitment of a Lender is $1,000,000.00 and the total amount of the Revolving Credit
Commitments of all of the Lenders is $5,000,000.00, such Lender's Pro Rata Share of the Revolving Credit Commitments would be Twenty Percent (20%) and (b) if the original principal amount of a Loan is $5,000,000.00 and the portion of such Loan made by one Lender is
$500,000.00, such Lender's Pro Rata Share of such Loan would be Ten Percent (10%). As of February 10, 2006, the Pro Rata Shares of the Lenders with respect to the Revolving Credit Commitments, the Revolving Credit Loans, the Term Loan Commitments and the Term Loan
are as follows: (a) U.S. Bank – Sixty-Six and Two-Thirds Percent (66-2/3%); and (b) National City Bank of Pennsylvania – Thirty-Three and One-Third Percent (33-/13%).”

            4.         The definition of “Revolving Credit Commitment” set forth in Section 1.01 of the Loan Agreement is hereby
deleted in its entirety and the following substituted in lieu thereof:

            “Revolving Credit Commitment shall mean, subject to any reduction of the Revolving Credit Commitments pursuant to Section 2.01(e) and to any assignments of
the Revolving Credit Commitments by the Lenders to the extent permitted by Section 8.12: (a) with respect to U.S. Bank - $20,000,000.00; and (b) with respect to National City Bank of Pennsylvania - $10,000,000.00.”

            5.         Section 8.13 of the Loan Agreement is hereby deleted in its entirety and the following substituted in lieu
thereof:

            “8.13    NO ORAL AGREEMENTS; ENTIRE AGREEMENT. This notice is provided pursuant to Section 432.047 R.S.Mo. As used
herein, “borrower(s)” means the Borrowers, “creditor” means the Lenders and the Agent and “this writing” means this Agreement and the other Transaction Documents. ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO
FORBEAR FROM ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE, REGARDLESS OF THE LEGAL THEORY UPON WHICH IT IS BASED THAT IS IN ANY WAY RELATED TO THE CREDIT AGREEMENT. TO PROTECT YOU (BORROWER(S)) AND US (CREDITOR)
FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT. This Agreement
embodies the entire agreement and understanding between the parties hereto and supersedes all prior agreements and understandings (oral or written) relating to the subject matter hereof.”

            6.         Exhibit A to the Loan Agreement is hereby deleted in its entirety and the Exhibit A attached to this
Amendment is hereby substituted in lieu thereof.

            7.         Exhibit B to the Loan Agreement is hereby deleted in its entirety and the Exhibit B attached to this
Amendment is hereby substituted in lieu thereof.

            8.         The Borrowers hereby jointly and severally agree to reimburse the Agent upon demand for all out-of-pocket costs and
expenses, including, without limitation, reasonable attorneys' fees and expenses, incurred by the Agent in the preparation, negotiation and/or execution of this Amendment and any and all other agreements, documents, instruments and/or certificates relating to the
amendment of the Borrowers' existing credit facilities from the Lenders. All of the obligations of the Borrowers under this paragraph shall survive the payment of the Borrower's Obligations owed by each Borrower and the termination of the Loan
Agreement.

            9.         All references in the Loan Agreement to "this Agreement" and any other references of similar import shall henceforth
mean the Loan Agreement as amended by this Amendment and as the same may from time to time be further amended, modified, extended, renewed or restated. All references in the other Transaction Documents to the Loan Agreement and any other references of similar import
shall henceforth mean the Loan Agreement as amended by this Amendment and as the same may from time to time be further amended, modified, extended, renewed or restated. Except to the extent specifically amended by this Amendment, all of the terms, provisions,
conditions, covenants, representations and warranties contained in the Loan Agreement shall be and remain in full force and effect and the same are hereby ratified and confirmed.

            10.       This Amendment shall be binding upon and inure to the benefit of the Borrowers, the Lenders and the Agent and their respective
successors and assigns, except that neither Borrower may assign, transfer or delegate any of its rights or obligations under the Loan Agreement as amended by this Amendment.

            11.       Each Borrower hereby represents and warrants to the Agent and each Lender that:

            (a)        the execution, delivery and performance by such Borrower of this Amendment are within the corporate powers of such
Borrower, have been duly authorized by all necessary corporate action on the part of such Borrower and require no consent of, action by or in respect of, or filing, recording or registration with, any governmental or regulatory body, instrumentality, authority,
agency or official or any other Person;

            (b)        the execution, delivery and performance by the Company of the Revolving Credit Notes are within the corporate powers of the
Company, have been duly authorized by all necessary corporate action on the part of the Company and require no consent of, action by or in respect of, or filing, recording or registration with, any governmental or regulatory body, instrumentality, authority, agency
or official or any other Person;

            (c)        the execution, delivery and performance by such Borrower of this Amendment do not conflict with, or result in a breach of
the terms, conditions or provisions of, or constitute a default under or result in any violation of, the terms of the Certificate or Articles of Incorporation or By-Laws of such Borrower, any applicable law, rule, regulation, order, writ, judgment or decree of any
court or governmental or regulatory body, instrumentality, authority, agency or official or any agreement, document or instrument to which such Borrower is a party or by which such Borrower or any of its Property or assets is bound or to which such Borrower or any of
its Property or assets is subject;

            (d)        the execution, delivery and performance by the Company of this Amendment do not conflict with, or result in a breach of the
terms, conditions or provisions of, or constitute a default under or result in any violation of, the terms of the Certificate of Incorporation or By-Laws of the Company, any applicable law, rule, regulation, order, writ, judgment or decree of any court or
governmental or regulatory body, instrumentality, authority, agency or official or any agreement, document or instrument to which the Company is a party or by which the Company or any of its Property or assets is bound or to which the Company or any of its Property
or assets is subject;

            (e)        this Amendment has been duly executed and delivered by such Borrower and constitutes the legal, valid and binding
obligation of such Borrower enforceable against such Borrower in accordance with its terms;

            (f)         the Revolving Credit Notes have been duly executed and delivered by the Company and constitute the legal, valid and
binding obligation of the Company enforceable against the Company in accordance with their respective terms;

            (g)        all of the representations and warranties made by such Borrower and/or any other Obligor in the Loan Agreement and/or in
any other Transaction Document are true and correct in all material respects on and as of the date of this Amendment as if made on and as of the date of this Amendment; and

            (h)        as of the date of this Amendment and after giving effect to this Amendment, no Default or Event of Default under or within
the meaning of the Loan Agreement has occurred and is continuing.

            12.       In the event of any inconsistency or conflict between this Amendment and the Loan Agreement, the terms, provisions and conditions
contained in this Amendment shall govern and control.

            13.       This Amendment shall be governed by and construed in accordance with the substantive laws of the State of Missouri (without
reference to conflict of law principles).

            14.       This notice is provided pursuant to Section 432.047 R.S.Mo. As used herein, “borrower(s)” means the Borrowers,
“creditor” means the Lenders and the Agent and “this writing” means the Loan Agreement as amended by this Amendment and the other Transaction Documents. ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR TO FORBEAR FROM
ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT ENFORCEABLE, REGARDLESS OF THE LEGAL THEORY UPON WHICH IT IS BASED THAT IS IN ANY WAY RELATED TO THE CREDIT AGREEMENT. TO PROTECT YOU (BORROWER(S)) AND US (CREDITOR) FROM
MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING, WHICH IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT.

            15.       This Agreement may be executed in any number of counterparts (including facsimile counterparts), each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument.

            16.       Notwithstanding any provision contained in this Amendment to the contrary, this Amendment shall not be effective unless and until
the Agent shall have received:

            (a)        this Amendment, duly executed by each Borrower, each Lender and the Agent;

           

(b)        the Revolving Credit Notes, each duly executed by the Company;

            (c)        a consent of guarantors with respect to the Revolving Credit Guaranty (which must be in form and substance satisfactory to
the Agent and each Lender), duly executed by each of LaBarge Electronics, LaBarge – OCS, LaBarge Properties, LaBarge/STC and Pinnacle POS;

            (d)        a consent of guarantors with respect to the Term Loan Guaranty (which must be in form and substance satisfactory to the
Agent and each Lender), duly executed by each of the Company, LaBarge – OCS, LaBarge Properties, LaBarge/STC and Pinnacle POS.

            (e)        a copy of resolutions of the Board of Directors of the Company, duly adopted, which authorize the execution, delivery and
performance of this Amendment and the Revolving Credit Notes;

            (f)         a copy of resolutions of the Board of Directors of LaBarge Electronics, duly adopted, which authorize the execution,
delivery and performance of this Amendment;

            (g)        an incumbency certificate, executed by the Secretary of the Company, which shall identify by name and title and bear the
signatures of all of the officers of the Company executing this Amendment and/or any of the Revolving Credit Notes;

            (h)        an incumbency certificate, executed by the Secretary of LaBarge Electronics, which shall identify by name and title and
bear the signatures of all of the officers of LaBarge Electronics executing this Amendment; and

            (i)         certificates of corporate good standing of each of the Company, LaBarge Electronics, LaBarge – OCS, LaBarge
Properties, LaBarge/STC and Pinnacle POS issued by the Secretary of State of the state of its incorporation.

            IN WITNESS WHEREOF, the Borrowers, the Lenders and the Agent have executed this Third Amendment to Loan Agreement as of the 10th day of February, 2006.

	
             

	
                                          

	
LABARGE, INC.

	
 

	
                                           

	
	
 

		
	
 

		
By:  /s/Donald H. Nonnenkamp

	
 

		
Name:  Donald H. Nonnenkamp

	
 

		
Title:  Vice President & CFO

	
 

		
	
 

		
	
 

		
LABARGE ELECTRONICS, INC.

	
 

		
	
 

		
	
 

		
By:  /s/Donald H. Nonnenkamp

	
 

		
Name:  Donald H. Nonnenkamp

	
 

		
Title:  Vice President & CFO

	
 

		
                                                      

	
             

	
                                          

	
U. S. BANK NATIONAL ASSOCIATION

	
 

	
                                           

	
	
 

		
	
 

		
By:  /s/Thomas S. Sherman

	
 

		
Name:  Thomas S. Sherman

	
 

		
Title:  Senior Vice President

	
 

		
	
 

		
	
 

		
NATIONAL CITY BANK OF PENNSYLVANIA

	
 

		
	
 

		
	
 

		
By:  /s/Charles P. Bugajski

	
 

		
Name:  Charles P. Bugajski

	
 

		
Title:  Vice President

	
 

		
	
  

		
	
 

		
U.S. BANK NATIONAL ASSOCIATION, as Agent

	
 

		
	
 

		
                                                         

	
 

		
By:  /s/Thomas S. Sherman

	
 

		
Name:  Thomas S. Sherman

	
 

		
Title:  Senior Vice President

EXHIBIT A

Borrowing Base Certificate

            This Borrowing Base Certificate is delivered pursuant to Section 2.01(b) of that certain Loan Agreement dated as of February 17, 2004, by and among LaBarge, Inc., a
Delaware corporation (the “Company”), LaBarge Electronics, Inc., a Missouri corporation (“LaBarge Electronics”), the Lenders from time to time party thereto (collectively, the “Lenders”) and U.S. Bank National Association, as agent
for the Lenders (in such capacity, the “Agent”), as amended by that certain First Amendment to Loan Agreement dated as of April 16, 2004, that certain Second Amendment to Loan Agreement dated as of August 18, 2005, and that certain Third Amendment to Loan
Agreement dated as of February                    , 2006, and as the same may from time to time be further amended, modified, extended, renewed or restated (the "Loan
Agreement"). All capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed to them in the Loan Agreement.

            The Company hereby represents and warrants to the Agent and each Lender that the following information is true, correct and complete as of
                      , 20          :

1.        Total Accounts of the
Company                                                                              $
             

2.         Ineligible Accounts of the Company:

            (a)       Over 90 Days from Invoice
Date                                          $                    

            (b)       25%
Cross-Aging                                                                 $
                    

            (c)        Affiliate
Accounts                                                                   
$                     

            (d)        Foreign
Accounts                                                                   
$                     

            (e)        Government
Accounts                                                           
$                     

            (f)         Contra Accounts
(Net)                                                           
$                     

            (g)       
Other                                                                                      
$                     

            (h)        Total Ineligible Accounts [Sum of Items 2(a) through

                       
2(g)]                                                                                        
$                     

3.         Eligible Accounts of the Company [Sum of Item 1 minus Item
2(h)]                        
$                     

4.         85% of face amount of Eligible Accounts of the
Company                                       
$                     

5.         Total Accounts of LaBarge
Electronics                                                                     
$                     

6.         Ineligible Accounts of LaBarge Electronics:

            (a)        Over 90 Days from Invoice
Date                                           
$                     

            (b)        25%
Cross-Aging                                                                   
$                     

            (c)        Affiliate
Accounts                                                                   
$                     

            (d)        Foreign
Accounts                                                                   
$                     

            (e)        Government
Accounts                                                           
$                     

            (f)         Contra Accounts
(Net)                                                           
$                     

            (g)       
Other                                                                                      
$                     

            (h)        Total Ineligible Accounts [Sum of Items 6(a) through

                       
6(g)]                                                                                        
$                     

7.         Eligible Accounts of LaBarge Electronics [Sum of Item 5 minus

            Item
6(h)]                                                                                                                    
$                     

8.         85% of face amount of Eligible Accounts of LaBarge Electronics                
            $                     

9.         Total Accounts of
LaBarge/STC                                                                                
$                     

10.       Ineligible Accounts of LaBarge/STC:

            (a)        Over 90 Days from Invoice
Date                                           
$                     

            (b)        25%
Cross-Aging                                                                   
$                     

            (c)        Affiliate
Accounts                                                                   
$                     

            (d)        Foreign
Accounts                                                                   
$                     

            (e)        Government
Accounts                                                           
$                     

            (f)         Contra Accounts
(Net)                                                           
$                     

            (g)       
Other                                                                                      
$                     

            (h)        Total Ineligible Accounts [Sum of Items 10(a) through

                       
10(g)]                                                                                      
$                     

11.       Eligible Accounts of LaBarge/STC [Sum of Item 9 minus

            Item
10(h)]                                                                                                                  
$                     

12.       85% of face amount of Eligible Accounts of
LaBarge/STC                                       
$                     

13.       Eligible Accounts Subtotal [Item 4 plus Item 8 plus Item
12]                         
$                     

14.       Total Inventory of the Company, valued at the lower of cost or

            market in accordance with
GAAP                                                                              
$                     

15.       Ineligible Inventory of the Company, valued at the lower of

            cost or market in accordance with GAAP

            (a)        Obsolete
Inventory                                                                 
$                     

            (b)       
Other                                                                                      
$                     

            (c)        Total Ineligible Inventory [Sum of Items 15(a) and 15(b)]      
$                     

16.       Eligible Inventory of the Company [Item 14 minus Item
15(c)]                                  
$                     

17.       35% of Eligible Inventory of the Company, valued at the lower of

            cost or market in accordance with
GAAP                                                                 
$                     

18.       Total Inventory of LaBarge Electronics, valued at the lower of cost or

            market in accordance with
GAAP                                                                              
$                     

19.       Ineligible Inventory of LaBarge/Electronics, valued at the lower of

            cost or market in accordance with GAAP

            (a)        Obsolete
Inventory                                                                 
$                     

            (b)       
Other                                                                                      
$                     

            (c)        Total Ineligible Inventory [Sum of Items 19(a) and 19(b)]      
$                     

20.       Eligible Inventory of LaBarge/Electronics [Item 18 minus

            Item
19(c)]                                                                                                                  
$                     

21        35% of Eligible Inventory of LaBarge/Electronics, valued at the

            lower of cost or market in accordance with
GAAP                                                    
$                     

22.       Total Inventory of LaBarge/STC, valued at the lower of cost or

            market in accordance with
GAAP                                                                              
$                     

23.       Ineligible Inventory of LaBarge/STC, valued at the lower of

            cost or market in accordance with GAAP

            (a)        Obsolete
Inventory                                                                 
$                     

            (b)       
Other                                                                                      
$                     

            (c)        Total Ineligible Inventory [Sum of Items 23(a) and 23(b)]      
$                     

24.       Eligible Inventory of LaBarge/STC [Item 22 minus Item
23(c)]                                 
$                     

25.       35% of Eligible Inventory of LaBarge/STC, valued at the

            lower of cost or market in accordance with
GAAP                                                    
$                     

26.       Eligible Inventory Subtotal [Item 17 plus Item 21 plus Item
25]                                 
$                     

27.       Borrowing Base [Sum of (a) Item 13 plus (b) Item 26; provided,

            however, that in no event may the portion of the Borrowing Base

            comprised of Item 26 exceed Fifty Percent (50%) of the total

            Borrowing Base (for example, if (before giving effect to this proviso)

            the portion of the Borrowing Base comprised of Item 13 was

            $10,000,000.00 and the portion of the Borrowing Base comprised of

            Item 26 was $15,000,000.0, the total Borrowing Base (after giving

            effect to this proviso) would be $22,500,000.00 ($10,000,000.00 +

           
$12,500,000.00)]                                                                    
                                   
$                     

28.       Aggregate Amount of Revolving Credit
Commitments                                             
$                     

29.       Company’s Maximum Revolving Credit Availability

            [Lesser of Item 27 or Item
28]                                                                        
$                     

30.       Aggregate principal amount of outstanding Revolving Credit Loans             
$                     

31.       Aggregate undrawn face amount of outstanding Letters of

            Credit plus all unreimbursed drawings with respect
thereto                                     
$                     

32.       Unused Availability [Item 29 minus Item 30 minus Item 31]

            [Negative amount requires mandatory
repayment]                                                   
$                     

33.       Backlog of unshipped orders of the
Company                                                          
$                     

34.       Backlog of unshipped orders of LaBarge
Electronics                                               
$                     

35.       Backlog of unshipped orders of
LaBarge/STC                                                          
$                     

            If Item 32 above is negative, this Certificate is accompanied by the mandatory repayment required by Section 2.01(c) of the Loan Agreement.

            This Borrowing Base Certificate is dated as of the              day of _______________,
20           .

                                                                                   
LABARGE, INC.

                                                                                   
By                                                                               

                                                                                   
Name:                                                                        

                                                                                   
Title:                                                                           

EXHIBIT B

REVOLVING CREDIT NOTE

$____________                                                                                                               
St. Louis, Missouri

                                                                                                                                         
                  , 20     

            FOR VALUE RECEIVED, on the last day of the Revolving Credit Period, the undersigned, LABARGE, INC., a Delaware corporation (the “Company“), hereby promises
to pay to the order of
                                                    
                          ("Lender"), the principal sum of
                                                       
  Dollars ($                   ), or such lesser sum as may then constitute the aggregate unpaid principal amount of all Revolving Credit Loans made by Lender to the
Company pursuant to the Loan Agreement. The aggregate principal amount of Revolving Credit Loans which Lender shall be committed to have outstanding under this Note at any one time shall not exceed
              
                                               
  Dollars ($                   ), which amount may be borrowed, paid, reborrowed and repaid, in whole or in part, subject to the terms and conditions of this Note
and of the Loan Agreement. The Company further promises to pay to the order of Lender interest on the aggregate unpaid principal amount of such Revolving Credit Loans on the dates and at the rate or rates provided for in the Loan Agreement.

            All such payments of principal and interest shall be made in lawful currency of the United States in Federal or other immediately available funds at the office of U.S.
Bank National Association located at 721 Locust Street, First Floor, Bank Lobby, St. Louis, Missouri 63101, or such other place as the Agent may from time to time designate in writing. The amount of interest accruing under this Note
shall be computed on an actual day, 360-day year basis.

            The Company shall have the right to make prepayments on this Note upon the terms and subject to the conditions contained in the Loan Agreement.

            Lender shall record in its books and records the date and amount of each Revolving Credit Loan made by it to the Company and the date and amount of each payment of
principal and/or interest made by the Company with respect thereto; provided, however, that the obligation of the Company to repay each Revolving Credit Loan made by Lender to the Company under this Note shall be absolute and unconditional, notwithstanding any
failure of Lender to make any such recordation or any mistake by Lender in connection with any such recordation. The books and records of Lender showing the account between Lender and the Company shall be prima facie evidence of the items set forth
therein.

            This Note is one of the Revolving Credit Notes referred to in, and is subject to, that certain Loan Agreement dated as of February 17, 2004, by and among the Company,
LaBarge Electronics, Inc., the Lenders from time to time party thereto and U.S. Bank National Association, as agent for the Lenders,as amended by that certain First Amendment to Loan Agreement dated as of April 16, 2004, that
certain Second Amendment to Loan Agreement dated as of August 18, 2005, and that certain Third Amendment to Loan Agreement dated as of February            , 2006, and as the same may from time to time be
further amended, modified, extended, renewed or restated (the "Loan Agreement"; all capitalized terms used and not otherwise defined in this Note shall have the respective meanings ascribed to them in the Loan Agreement). The Loan Agreement, among other things,
contains provisions for acceleration of the maturity of this Note upon the occurrence of certain stated events and also for prepayments on account of principal of this Note and interest on this Note prior to the maturity of this Note upon the terms and conditions
specified therein.

            This Note is secured by, among other things, the Company Patent, Trademark and License Security Agreement, the Company Security Agreement and the Company Stock Pledge
Agreement, to which Company Patent, Trademark and License Security Agreement, Company Security Agreement and Company Stock Pledge Agreement reference is hereby made for a description of the security and a statement of the terms and conditions upon which this Note is
secured.

            Upon the occurrence of any Event of Default under the Loan Agreement, Lender's obligation to make additional Revolving Credit Loans under this Note may be terminated in
the manner and with the effect as provided in the Loan Agreement and the entire outstanding principal balance of this Note and all accrued and unpaid interest thereon may be declared to be immediately due and payable in the manner and with the effect as provided in
the Loan Agreement.

            In the event that any payment due under this Note shall not be paid when due, whether by reason of maturity, acceleration or otherwise, and this Note is placed in the
hands of an attorney or attorneys for collection or for foreclosure of the Company Patent, Trademark and License Security Agreement, the Company Security Agreement and/or the Company Stock Pledge Agreement, or if this Note is placed in the hands of an attorney or
attorneys for representation of Lender in connection with bankruptcy or insolvency proceedings relating to or affecting this Note, the Company hereby promises to pay to the order of Lender, in addition to all other amounts otherwise due on or under this Note, the
costs and expenses of such collection, foreclosure and representation, including, without limitation, reasonable attorneys' fees and expenses (whether or not litigation shall be commenced in aid thereof). The Company hereby waives presentment for payment, demand,
protest, notice of protest and notice of dishonor.

            This Note shall be governed by and construed in accordance with the substantive laws of the State of Missouri (without reference to conflict of law
principles).

            [This Note is an amendment, restatement and continuation of, and not a novation of, that certain Revolving Credit Note of the Company dated
                , 20      , and payable to the order of Lender in the maximum principal amount of up to
$                    . ]

                                                                                   
LABARGE, INC.

                                                                                   
By                                                                               

                                                                                   
Name:                                                                        
           
                                                                       
Title:                                                                           

CONSENT OF GUARANTORS

            Each of the undersigned hereby consents to the terms, provisions and conditions contained in (a) that certain Third Amendment to Loan Agreement dated as of February 10,
2006, by and among (i) LaBarge, Inc., a Delaware corporation (the “Company”) and LaBarge Electronics, Inc., a Missouri corporation (“LaBarge Electronics”) (individually, a “Borrower” and collectively, the “Borrowers”),
(ii) U.S. Bank National Association and National City Bank of Pennsylvania (individually, a “Lender” and collectively, the “Lenders”) and (iii) U.S. Bank National Association, as agent for the Lenders (in such capacity, the
“Agent”) (the "Third Amendment to Loan Agreement"), (b) that certain Revolving Credit Note of the Company dated February 10, 2006, and payable to the order of U.S. Bank National Association in the maximum principal amount of up to $20,000,000.00 (the
“Restated U.S. Bank Revolving Credit Note”) and (c) that certain Revolving Credit Note of the Company dated February 10, 2006, and payable to the order of National City Bank of Pennsylvania in the maximum principal amount of up to $10,000,000.00 (the
“Restated National City Bank Revolving Credit Note”). Each of the undersigned hereby acknowledges and agrees that (a) the execution and delivery of the Third Amendment to Loan Agreement, the Restated U.S. Bank Revolving Credit Note and the Restated
National City Bank Revolving Credit Note by the Borrowers to the Agent and the Lenders will not adversely affect or impair any of its obligations to the Agent and/or any Lender under that certain Guaranty dated as of February 17, 2004, and executed by the undersigned
in favor of the Agent and the Lenders with respect to the indebtedness of the Company to the Agent and the Lenders (the "Revolving Credit Guaranty"), (b) payment of all of the "Borrower's Obligations" (as defined in that certain Loan Agreement dated as of February
17, 2004, by and among the Borrowers, the Lenders and the Agent, as amended by that certain First Amendment to Loan Agreement dated as of April 16, 2004, that certain Second Amendment to Loan Agreement dated as of August 18, 2005, and the Third Amendment to Loan
Agreement and as the same may from time to time be further amended, modified, extended, renewed or restated) owed by the Company (including, without limitation, payment of all of the present and future indebtedness (principal, interest, fees, collection costs and
expenses and other amounts), liabilities and obligations of the Company to U.S. Bank National Association evidenced by or arising under or in respect of the Restated U.S. Bank Revolving Credit Note and payment of all of the present and future indebtedness (principal,
interest, fees, collection costs and expenses and other amounts), liabilities and obligations of the Company to National City Bank of Pennsylvania evidenced by or arising under or in respect of the Restated National City Bank Revolving Credit Note) is guaranteed to
the Agent and the Lenders by such undersigned pursuant to the terms of the Revolving Credit Guaranty and (c) the Revolving Credit Guaranty is in full force and effect on the date hereof and the same is hereby ratified and confirmed.

            Executed as of the 10th day of February, 2006.

	
             

	
                                          

	
LABARGE ELECTRONICS, INC., Guarantor

	
 

	
                                           

	
	
 

		
	
 

		
By:  /s/Craig E. LaBarge

	
 

		
Name:  Craig E. LaBarge

	
 

		
Title:  Chief Executive Officer & President

	
 

		
	
 

		
	
 

		
LABARGE/STC, INC., Guarantor

	
 

		
	
 

		
	
 

		
By:  /s/Craig E. LaBarge

	
 

		
Name:  Craig E. LaBarge

	
 

		
Title:  President

	
 

		
                                                      

	
             

	
                                          

	
LABARGE – OCS, INC., Guarantor

	
 

	
                                           

	
	
 

		
	
 

		
By:  /s/Craig E. LaBarge

	
 

		
Name:  Craig E. LaBarge

	
 

		
Title:  President

	
 

		
	
 

		
	
 

		
LABARGE PROPERTIES, INC., Guarantor

	
 

		
	
 

		
	
 

		
By:  /s/Craig E. LaBarge

	
 

		
Name:  Craig E. LaBarge

	
 

		
Title:  President

	
 

		
                                                      

	
 

		
	
 

		
PINNACLE POS, LLC, Guarantor

	
 

		
	
 

		
	
 

		
By:  /s/Craig E. LaBarge

	
 

		
Name:  Craig E. LaBarge

	
 

		
Title:  President

CONSENT OF GUARANTORS

            Each of the undersigned hereby consents to the terms, provisions and conditions contained in (a) that certain Third Amendment to Loan Agreement dated as of February 10,
2006, by and among (i) LaBarge, Inc., a Delaware corporation (the “Company”) and LaBarge Electronics, Inc., a Missouri corporation (“LaBarge Electronics”) (individually, a “Borrower” and collectively, the “Borrowers”),
(ii) U.S. Bank National Association and National City Bank of Pennsylvania (individually, a “Lender” and collectively, the “Lenders”) and (iii) U.S. Bank National Association, as agent for the Lenders (in such capacity, the
“Agent”) (the "Third Amendment to Loan Agreement"), (b) that certain Revolving Credit Note of the Company dated February 10, 2006, and payable to the order of U.S. Bank National Association in the maximum principal amount of up to $20,000,000.00 (the
“Restated U.S. Bank Revolving Credit Note”) and (c) that certain Revolving Credit Note of the Company dated February 10, 2006, and payable to the order of National City Bank of Pennsylvania in the maximum principal amount of up to $10,000,000.00 (the
“Restated National City Bank Revolving Credit Note”). Each of the undersigned hereby acknowledges and agrees that (a) the execution and delivery of the Third Amendment to Loan Agreement, the Restated U.S. Bank Revolving Credit Note and the Restated
National City Bank Revolving Credit Note by the Borrowers to the Agent and the Lenders will not adversely affect or impair any of its obligations to the Agent and/or any Lender under that certain Guaranty dated as of February 17, 2004, and executed by the undersigned
in favor of the Agent and the Lenders with respect to the indebtedness of LaBarge Electronics to the Agent and the Lenders (the "Term Loan Guaranty"), (b) payment of all of the "Borrower's Obligations" (as defined in that certain Loan Agreement dated as of
February 17, 2004, by and among the Borrowers, the Lenders and the Agent, as amended by that certain First Amendment to Loan Agreement dated as of April 16, 2004, that certain Second Amendment to Loan Agreement dated as of August 18, 2005, and the Third Amendment to
Loan Agreement and as the same may from time to time be further amended, modified, extended, renewed or restated) owed by LaBarge Electronics is guaranteed to the Agent and the Lenders by such undersigned pursuant to the terms of the Term Loan Guaranty and (c) the
Term Loan Guaranty is in full force and effect on the date hereof and the same is hereby ratified and confirmed.

            Executed as of the 10th day of February, 2006.

	
             

	
                                          

	
LABARGE, INC., Guarantor

	
 

	
                                           

	
	
 

		
	
 

		
By:  /s/Craig E. LaBarge

	
 

		
Name:  Craig E. LaBarge

	
 

		
Title:  Chief Executive Officer & President

	
 

		
	
 

		
	
 

		
LABARGE/STC, INC., Guarantor

	
 

		
	
 

		
	
 

		
By:  /s/Craig E. LaBarge

	
 

		
Name:  Craig E. LaBarge

	
 

		
Title:  President

	
 

		
                                                      

	
 

		
 

	
             

	
                                          

	
LABARGE – OCS, INC., Guarantor

	
 

	
                                           

	
	
 

		
	
 

		
By:  /s/Craig E. LaBarge

	
 

		
Name:  Craig E. LaBarge

	
 

		
Title:  President

	
 

	
                                     

	
	
 

		
	
 

		
LABARGE PROPERTIES, INC., Guarantor

	
 

		
	
 

		
	
 

		
By:  /s/Craig E. LaBarge

	
 

		
Name:  Craig E. LaBarge

	
 

		
Title:  President

	
 

		
                                                      

	
 

		
	
 

		
PINNACLE POS, LLC, Guarantor

	
 

		
	
 

		
	
 

		
By:  /s/Craig E. LaBarge

	
 

		
Name:  Craig E. LaBarge

	
 

		
Title:  PresidentForm of Stock Award Agreement

    RESOURCE
      AMERICA, INC.

     

    2005
      OMNIBUS EQUITY COMPENSATION PLAN

     

    STOCK
      AWARD AGREEMENT

     

    The
      Compensation Committee of the Board of Directors of Resource America, Inc.
      has
      determined to grant to you a stock award under the Resource America, Inc. 2005
      Omnibus Equity Compensation Plan (the “Plan”) for shares of common stock of
      Resource America, Inc. The terms of the grant are set forth in the Stock Award
      Agreement (the “Grant”) provided to you. The following provides a summary of the
      key terms of the Grant; however, you should read the entire Grant, along with
      the terms of the Plan, to fully understand the Grant.

     

    SUMMARY
      OF STOCK AWARD GRANT

     

    

    Grantee:    ___________________ 

    

    Date
      of Grant:   _________
      __, 200___  

    

    Total
      Number of Shares Granted: __________________

    

    Vesting
      Schedule*: 25%
      on
      each of the first four anniversaries of the Date of Grant

    

    

    * The
      Grantee must be employed by, or providing service to, the Employer (as defined
      in the Plan) on the applicable date for the stock award to become vested on
      such
      date.

    

    

    

     

    

     

    

     

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

        
        

      

    

    RESOURCE
      AMERICA, INC.

     

    2005
      OMNIBUS EQUITY COMPENSATION PLAN

     

    STOCK
      AWARD AGREEMENT

     

    This
      STOCK AWARD AGREEMENT, dated as of __________, 200____ (the “Date of Grant”), is
      delivered by Resource America, Inc. (the “Company”), to ____________________
      (the “Grantee”).

     

    RECITALS

     

    A. The
      Resource America, Inc. 2005 Omnibus Equity Compensation Plan (the “Plan”)
      provides for the grant of stock awards. 

     

    B. The
      Compensation Committee of the Board of Directors of the Company (the
“Committee”) has decided to make a stock award grant, subject to the terms and
      conditions set forth in this Agreement and the Plan, as an inducement for the
      Grantee to promote the best interests of the Company and its stockholders.
      The
      Grantee may receive a copy of the Plan by contacting _____________ at
      _______________.

     

    NOW,
      THEREFORE, the parties to this Agreement, intending to be legally bound hereby,
      agree as follows:

     

    1.  Grant
      of Stock Award.
      Subject
      to the terms and conditions set forth in this Agreement and the Plan, the
      Company hereby grants the Grantee _____ shares of common stock of the Company,
      subject to the vesting conditions and the restrictions set forth below and
      in
      the Plan (“Restricted Stock”) and acknowledges
      payment by the Grantee of _____ ($0.01 per share) for the Restricted Stock.
      Shares of Restricted Stock may not be transferred by the Grantee or subjected
      to
      any security interest until the shares have become vested pursuant to this
      Agreement and the Plan.

     

    2.  Vesting
      and Nonassignability of Restricted Stock.

     

    (a)  The
      shares of Restricted Stock shall become vested, and the restrictions described
      in Paragraphs 2(b) and 2(c) below shall lapse, if the Grantee is employed by,
      or
      providing service to, the Employer (as defined in the Plan) on the applicable
      date:

     

    Date     Shares
      for Which the Restricted Stock

                                        Is
      Vested        

        First
      anniversary of the Date of Grant                    25%

        Second
      anniversary of the Date of Grant          
25%

        Third
      anniversary of the Date of
      Grant                      25%

        Fourth
      anniversary of the Date of
      Grant                    25%

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    The
      vesting of the Restricted Stock is cumulative, but shall not exceed 100% of
      the
      shares of common stock of the Company subject to the Restricted Stock. If the
      foregoing schedule would produce fractional shares of common stock of the
      Company, the number of shares of common stock for which the Restricted Stock
      becomes vested shall be rounded down to the nearest whole share of common stock.
      The Restricted Stock shall become fully vested on the fourth anniversary of
      the
      Date of Grant, if the Grantee is employed by, or providing service to, the
      Employer on such date.

     

    (b)  If
      the
      Grantee’s employment or service with the Employer terminates for any reason
      before the Restricted Stock is fully vested, the shares of Restricted Stock
      that
      are not then vested shall be forfeited and must be immediately returned to
      the
      Company,
      and the
      Company shall pay to the Grantee, as consideration for the return of the
      non-vested shares, the lesser of $0.01 per share or the Fair Market Value (as
      defined in the Plan) of a share of common stock of the Company on the date
      of
      the forfeiture, for each returned share.

     

    (c)  During
      the period before the shares of Restricted Stock vest (the “Restriction
      Period”), the non-vested shares of Restricted Stock may not be assigned,
      transferred, pledged or otherwise disposed of by the Grantee. Any attempt to
      assign, transfer, pledge or otherwise dispose of the shares contrary to the
      provisions hereof, and the levy of any execution, attachment or similar process
      upon the shares, shall be null, void and without effect.

     

    3.  Issuance
      of Certificates.

     

    (a)  Stock
      certificates representing the shares of Restricted Stock may be issued by the
      Company and held in escrow by the Company until the Restricted Stock vests,
      or
      the Company may hold non-certificated shares until the Restricted Stock vests.
      During the Restriction Period, the Grantee shall receive any dividends or other
      distributions with respect to the shares of Restricted Stock and may vote the
      shares of Restricted Stock. In the event of a dividend or distribution payable
      in stock or other property or a reclassification, split up or similar event
      during the Restriction Period, the shares or other property issued or declared
      with respect to the non-vested shares of Restricted Stock shall be subject
      to
      the same terms and conditions relating to vesting as the shares to which they
      relate.

     

    (b)  When
      the
      Grantee obtains a vested right to shares of Restricted Stock, a certificate
      representing the vested shares shall be issued to the Grantee, free of the
      restrictions under Paragraph 2 of this Agreement.

     

    4.  Withholding.
      The
      Grantee shall be required to pay to the Employer, or make other arrangements
      satisfactory to the Employer to provide for the payment of, any federal, state,
      local or other taxes that the Employer is required to withhold with respect
      to
      the grant or vesting of the shares of Restricted Stock. Subject to Committee
      approval, the Grantee may elect to satisfy any tax withholding obligation of
      the
      Employer with respect to the Restricted Stock by having shares withheld up
      to an
      amount that does not exceed the minimum applicable withholding tax rate for
      federal (including FICA), state, local and other tax liabilities.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.  Restrictions
      on Issuance or Transfer of Shares.

     

    (a)  The
      obligation of the Company to deliver shares upon the vesting of the Restricted
      Stock shall be subject to the condition that if at any time the Committee shall
      determine in its discretion that the listing, registration or qualification
      of
      the shares upon any securities exchange or under any state or federal law,
      or
      the consent or approval of any governmental regulatory body is necessary or
      desirable as a condition of, or in connection with, the issue of shares, the
      shares may not be issued in whole or in part unless such listing, registration,
      qualification, consent or approval shall have been effected or obtained free
      of
      any conditions not acceptable to the Committee. The issuance of shares to the
      Grantee pursuant to this Agreement is subject to any applicable taxes and other
      laws or regulations of the United States or of any state having jurisdiction
      thereof.

     

    (b)  The
      Grantee agrees to be bound by the Company’s policies regarding the transfer of
      shares of the Company’s common stock and understands that there may be certain
      times during the year in which the Grantee will be prohibited from selling,
      transferring, pledging, donating, assigning, mortgaging, hypothetically or
      encumbering shares.

     

    6.  Change
      of Control.
      The
      provisions of the Plan applicable to a Change of Control shall apply to the
      Restricted Stock, and, in the event of a Change of Control, the Committee may
      take such actions as it deems appropriate pursuant to the Plan.

     

    7.  Grant
      Subject to Plan Provisions.
      This
      grant is made pursuant to the Plan, the terms of which are incorporated herein
      by reference, and in all respects shall be interpreted in accordance with the
      Plan. The grant is subject to interpretations, regulations and determinations
      concerning the Plan established from time to time by the Committee in accordance
      with the provisions of the Plan, including, but not limited to, provisions
      pertaining to (i) rights and obligations with respect to withholding taxes,
      (ii)
      the registration, qualification or listing of the shares, (iii) changes in
      capitalization of the Company, and (iv) other requirements of applicable law.
      The Committee shall have the authority to interpret and construe the grant
      pursuant to the terms of the Plan, and its decisions shall be conclusive as
      to
      any questions arising hereunder.

     

    8.  No
      Employment or Other Rights.
      This
      grant shall not confer upon the Grantee any right to be retained by or in the
      employ or service of the Employer and shall not interfere in any way with the
      right of the Employer to terminate the Grantee’s employment or service at any
      time. The right of the Employer to terminate at will the Grantee’s employment or
      service at any time for any reason is specifically reserved.

     

    9.  Assignment.
      The
      rights and protections of the Company hereunder shall extend to any successors
      or assigns of the Company and to the Company’s parents, subsidiaries, and
      affiliates. This Agreement may be assigned by the Company without the Grantee’s
      consent.

     

    10.  Applicable
      Law.
      The
      validity, construction, interpretation and effect of this instrument shall
      be
      governed by and construed in accordance with the laws of the State of Delaware,
      without giving effect to the conflicts of laws provisions thereof.

     

    11.  Notice.
      Any
      notice to the Company provided for in this instrument shall be addressed to
      the
      Company in care of the President at the corporate headquarters of the Company,
      and any notice to the Grantee shall be addressed to such Grantee at the current
      address shown on the payroll of the Company, or to such other address as the
      Grantee may designate to the Company in writing. Any notice shall be delivered
      by hand, sent by telecopy or enclosed in a properly sealed envelope addressed
      as
      stated above, registered and deposited, postage prepaid, in a post office
      regularly maintained by the United States Postal Service.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the Company has caused its duly authorized officers to execute
      and attest to this Stock Award Agreement, and the Grantee has placed his or
      her
      signature hereon, effective as of the Date of Grant.

     

    RESOURCE
      AMERICA, INC.

    Attest:

     

                                           
      By:              

    Name:
      

    Title:
      

     

     

    I
      hereby
      accept the grant of Restricted Stock described in this Agreement, and I agree
      to
      be bound by the terms of the Plan and this Agreement. I hereby further agree
      that all of the decisions and determinations of the Committee with respect
      to
      the Restricted Stock shall be final and binding.

    

     

    ____________________________________

    Grantee:
      

    

    ____________________________________

    Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]