Document:

Directors' Deferred Compensation Plan

 Exhibit 10.6 
 BARNES GROUP INC. 
 DIRECTORS’ DEFERRED COMPENSATION PLAN 
 as amended and restated on December 31, 2008 
 Section 1: Establishment of Plan 
 The Barnes Group Inc. Directors’ Deferred Compensation Plan (the
“Plan”) provides a means whereby non-employee Directors of the Company may defer receipt of all or a portion of the compensation they earn in their capacity as a Director of the Company. The Plan was originally effective December 1,
1987, and was amended and restated effective July 19, 1996. In accordance with Treasury Regulation section 1.409A-1(i), the Plan was further amended on December 31, 2007 to adopt an alternative method of identifying the service providers
who will be subject to the six-month delay imposed by Section 409A(a)(2)(B)(i) of the Code, and to adopt January 1 as the “specified employee effective date” within the meaning of Treasury Regulation section 1.409A-1(i)(4). The
Plan was further amended and restated on December 31, 2008 to reflect Section 409A of the Code and the Treasury Regulations and official guidance thereunder. If and to the extent that any Compensation deferred by a Participant before
December 31, 2008 under the Plan as in effect before its amendment and restatement on December 31, 2008, and earnings on such deferred Compensation (including earnings that accrued before or that accrue after December 31, 2008), are
“grandfathered” from Section 409A of the Code (i.e., are compensation to which Section 409A of the Code does not apply, according to Treasury Regulation section 1.409A-6), then on and after December 31, 2008 such deferred
Compensation and earnings shall continue to be determined in accordance with, and be governed exclusively by, the provisions of the Plan as in effect before its amendment and restatement on December 31, 2008. Any Compensation deferred by a
Participant before December 31, 2008 under the Plan as in effect before its amendment and restatement on December 31, 2008, and earnings on such deferred Compensation, that are not “grandfathered” from Section 409A of the
Code, and any Compensation deferred by a Participant under the Plan on or after December 31, 2008, and earnings on such deferred Compensation, shall be determined in accordance with, and be governed exclusively by, the provisions of the Plan as
amended and restated on December 31, 2008, which are set forth herein. For the avoidance of doubt, (a) any “non-grandfathered” amounts that are credited to a Participant’s Deferred Compensation Accounts immediately after the
amendment and restatement of the Plan on December 31, 2008 shall be equal to the “non-grandfathered” amounts that were credited to the Participant’s Deferred Compensation Accounts immediately before the amendment and restatement
of the Plan on December 31, 2008, and (b) on and after December 31, 2008 no “non-grandfathered” amounts shall be payable under, or may be deferred under, the provisions of the Plan as in effect before its amendment and
restatement on December 31, 2008. 
 The Plan as amended and restated on December 31, 2008 is effective on that date. However, any
provision of the Plan to the contrary notwithstanding, if any provision of the Plan as so amended and restated would change the time or form of payment of any amount 

  

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that is payable under the Plan, such provision shall “apply only to amounts that would not otherwise be payable in 2008” within the meaning of
paragraph .02 of §3 of Notice 2006-79 as modified by Section 3.01(B)(1) of Notice 2007-86, and shall be administered, interpreted and construed accordingly. 
 Section 2: Definitions 
 When used in this Plan, the following terms shall have the definitions
set forth in this section: 
  

	2.0	“Beneficiary” means the beneficiary designated by a Participant most recently on an election form filed under the Plan before his or her death or, if no such beneficiary
has been designated or if the beneficiary designated by the Participant most recently before his or her death does not survive the Participant on the payment date in question, the “Beneficiary” means the Participant’s estate.

  

	2.1	“Board of Directors” shall mean the Board of Directors of Barnes Group Inc. 

  

	2.2	“Code” means the Internal Revenue Code of 1986 as amended and in effect from time to time. 

  

	2.3	“Common Stock” shall mean the common stock, par value $0.01 per share, of the Company. 

  

	2.4	“Common Stock Unit” shall mean a unit representing one share of Common Stock. 

  

	2.5	“Company” shall mean Barnes Group Inc. 

  

	2.6	“Compensation” shall mean retainer fees earned for service as a Director of the Company, and meeting attendance fees earned for attending meetings of the Board of
Directors or any of its committees. For years before 2006 only, “Compensation” also shall mean amounts payable to a Director pursuant to Section 5 of the Barnes Group Inc. Non-Employee Director Deferred Stock Plan.

  

	2.7	“Compensation Committee” shall mean the Compensation and Management Development Committee of the Board of Directors. 

  

	2.8	“Deferred Compensation Accounts” shall mean, collectively, the Deferred Compensation Interest-Bearing Account and the Deferred Compensation Phantom Stock Account.

  

	2.9	“Deferred Compensation Interest-Bearing Account” shall mean the bookkeeping account which is credited with deferred Compensation pursuant to Section 4.

  

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	2.10	“Deferred Compensation Phantom Stock Account” shall mean the bookkeeping account which is credited with deferred Compensation pursuant to Section 5.

  

	2.11	“Director” shall mean a member of the Board of Directors who is not employed by the Company. 

  

	2.12	“Fair Market Value” on a specified day shall mean the closing price of the Common Stock as reported on the New York Stock Exchange, or if no sale of the Common Stock was
so reported on that date, on the next preceding day on which there was such a sale. 

  

	2.13	“Participant” shall mean a Director who elects to defer Compensation under the Plan pursuant to the procedures set forth in Section 3. 

  

	2.14	“Retirement” shall mean the date on which a Director has a Separation from Service for any reason whatsoever. 

  

	2.15	“Separation from Service” shall mean a “separation from service with the service recipient” within the meaning of Treasury Regulation section 1.409A-1(h)(2)(i),
where the “service recipient” means Barnes Group Inc. and all corporations and trades or businesses with which Barnes Group Inc. would be considered a single employer under Section 414(b) or Section 414(c) of the Code (as
determined in accordance with the first sentence of Treasury Regulation section 1.409A-1(h)(3)). 

 Section 3: Participation in the
Plan 
  

	3.1	 On or before December 31 of any calendar year, a Director may elect to defer all or a specified percentage of the Compensation for services to be performed in
the succeeding calendar year that, but for such election, would be paid in the succeeding calendar year or thereafter. Such election shall be made by filing an election form with the Secretary of the Company in substantially the form attached hereto
as Exhibit A. Any such election shall become irrevocable at 5:00 P.M. on December 31 of the calendar year in which it is filed, with respect to the Participant’s Compensation for services to be performed in the succeeding calendar year.
Any such election to defer shall also apply to (and be irrevocable with respect to) Compensation for services to be performed in succeeding calendar years except for calendar years that follow the calendar year in which the Participant files a new
election in substantially the form attached hereto as Exhibit A or a written revocation of the election with the Secretary of the Company in accordance with the Plan, which new election or written revocation becomes irrevocable pursuant to this
Section 3.1. Any such new election or written revocation of an election (i) shall become irrevocable at 5:00 P.M. on December 31 of the calendar year in which it is filed, with respect to Compensation for services to be performed in
the succeeding calendar year, and (ii) shall not apply to Compensation for services performed in the calendar year in which such new election or written revocation of an election is 

  

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filed with the Secretary of the Company or in any earlier calendar year or to any earnings on any such Compensation. Any election referred to in this
Section 3.1 may be changed or revoked before it becomes irrevocable. Any such written revocation of an election shall be made by filing a notice with the Secretary of the Company in such form as the Secretary may prescribe, and may itself be
revoked by the same means before it becomes irrevocable. Whether Compensation is for services performed in a year shall be determined in accordance with Treasury Regulation section 1.409A-2, including without limitation Treasury Regulation section
1.409A-2(a)(13). 

  

	3.2	In the case of the first year in which a Director becomes a member of the Board of Directors, the Director may make an initial deferral election within 30 days after the date the
Director becomes a member of the Board of Directors, with respect to Compensation to be paid for services to be performed after the election. Such election shall be made by filing an election form with the Secretary of the Company in substantially
the form attached hereto as Exhibit B. Any such election shall become irrevocable on the date during such 30 day period on which it is filed with the Secretary of the Company, with respect to Compensation to be paid in the same calendar year or
thereafter for services to be performed in such calendar year and after the election. At 5:00 P.M. on December 31 of such calendar year and of each calendar year thereafter, such election to defer shall also apply to (and become irrevocable
with respect to) Compensation for services to be performed in the succeeding calendar year unless (a) on or before the December 31 in question the Participant files a new election or a written revocation of the election with the Secretary
of the Company in accordance with the Plan, and (b) such new election or written revocation becomes irrevocable pursuant to the next sentence. Any such new election or written revocation of an election (i) shall become irrevocable at 5:00
P.M. on December 31 of the calendar year in which it is filed with the Secretary of the Company, with respect to Compensation for services to be performed in the succeeding calendar year, and (ii) shall not apply to Compensation for
services performed in the calendar year in which such new election or written revocation of an election is filed with the Secretary of the Company or in any earlier calendar year or to any earnings on any such Compensation. Any such new election
shall be made by filing an election form with the Secretary of the Company in substantially the form attached hereto as Exhibit A, and may be changed or revoked before it becomes irrevocable in accordance with the preceding sentence. Any such
written revocation of an election shall be made by filing a notice with the Secretary of the Company in such form as the Secretary may prescribe, and may itself be revoked by the same means before it becomes irrevocable. 

  

	3.3	At the time a Director elects to defer Compensation under the Plan, such Director may elect that deferred Compensation be credited to either (a) the Deferred Compensation
Interest-Bearing Account, (b) the Deferred Compensation Phantom Stock Account, or (c) a combination of the foregoing. In the absence of an effective election to the contrary, Compensation that is deferred under the Plan shall be credited
to the Deferred Compensation Phantom Stock Account. 

  

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	 3.4
	 	(a)	 	Effective as of January 1 of any year, a Participant may (i) increase or decrease the amount of future deferred Compensation; (ii) allocate such future deferred Compensation
between the Deferred Compensation Accounts; (iii) change the allocation of amounts previously deferred between the Deferred Compensation Accounts; and/or (iv) elect to change the form (i.e., lump sum or installments) in which any future
deferred Compensation will be paid. For the avoidance of doubt, any election to change the form in which any future deferred Compensation will be paid will apply only to Compensation for services to be performed in calendar years subsequent to the
calendar year in which the election is made, and will not change the form of payment of any deferred Compensation for services that are performed in the calendar year in which the election is made or in any earlier calendar year or the form of
payment of any earnings on any such deferred Compensation.

	

  

	 	(b)	Any election to increase or decrease the amount of future deferred Compensation, or to allocate such future deferred Compensation between the Deferred Compensation Accounts, and any
election to change the form in which any future Deferred Compensation will be paid, shall be made by filing a new election form in accordance with the rules set forth in Section 3.1. For the avoidance of doubt, any such election must be filed
with the Secretary by 5:00 P.M. on the December 31 that precedes the January 1 on which it is to become effective. 

  

	 	(c)	 A Participant wishing to change the allocation of his account balance between the Deferred Compensation Accounts must file an instruction form with the Secretary of
the Company in substantially the form attached hereto as Exhibit C no later than 5:00 P.M. on the December 31 immediately preceding the January 1 effective date. Any such change in allocation instructions shall become irrevocable at 5:00
P.M. on the December 31 prior to the January 1 effective date, with respect to the allocation during the calendar year commencing on such January 1 of the Participant’s account balance as of the close of business on such
December 31. Such account balance shall continue to be allocated in accordance with the change instructions until the calendar year that follows the calendar year in which the Participant files new allocation instructions with the Secretary of
the Company in accordance with this Section 3.4(c), which new allocation instructions become irrevocable pursuant to the next sentence. Any such new allocation instructions shall become irrevocable at 5:00 P.M. on December 31 of the
calendar year in which the new allocation instructions are filed with the Secretary of the Company, shall apply during the succeeding calendar year to the Participant’s account balance as of the close 

  

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of business on the December 31 on which they became irrevocable, and shall also apply during succeeding calendar years in accordance with the preceding
sentence of this Section 3.4(c). Any change in allocation instructions referred to in this Section 3.4(c) may be changed or revoked before they become irrevocable in accordance with the preceding provisions of this Section 3.4(c). No
change in allocation instructions may change the time or form of payment of any amount deferred under the Plan. 

  

	3.5	The foregoing provisions of this Section 3 shall be administered, interpreted and construed in accordance with the applicable provisions of Treasury Regulation section
1.409A-2(a). 

 Section 4: Deferred Compensation Interest-Bearing Account 
  

	4.1	The Company shall establish a bookkeeping account on behalf of each Participant who elects to defer Compensation to the Deferred Compensation Interest-Bearing Account. This account
shall be credited with an amount equal to that portion of the Participant’s deferred Compensation that the Participant elects to defer under this Section 4 at such times as the Compensation subject to such deferral would otherwise have
been paid. The Company shall not be required to segregate or earmark assets with respect to such account and Participants shall have no interest in any specific asset as a result of the creation of such account. 

  

	4.2	Interest will be credited quarterly on the unpaid amount standing to any Participant’s credit in the Deferred Compensation Interest-Bearing Account at the end of each quarter.
The interest rate shall be the rate of interest for prime commercial loans of 90-day maturities charged by Bank of America, N.A. on the first business day of such quarter. 

 Section 5: Deferred Compensation Phantom Stock Account 
  

	5.1	The Company shall establish a bookkeeping account on behalf of each Participant who elects to defer Compensation to the Deferred Compensation Phantom Stock Account. At such times as
the Compensation subject to such deferral would otherwise have been paid, the Deferred Compensation Phantom Stock Account shall be credited with a number of Common Stock Units (including fractional Common Stock Units) equal to (a) that portion
of the Participant’s Deferred Compensation that the Participant elects to defer under this Section 5, divided by (b) the Fair Market Value of the Common Stock on the date such Compensation would otherwise have been paid. The Company
shall not be required to segregate or earmark Common Stock with respect to such account and Participants shall have no interest in any specific asset as a result of the creation of such account. 

  

	5.2	 Each Common Stock Unit shall be credited with dividend equivalents based on the value of any dividends which would have been paid to the Participant if he or she

  

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had owned a number of shares of Common Stock equal to the number of his or her Common Stock Units. Such dividend equivalents shall be converted into
additional Common Stock Units for the Participant based upon the Fair Market Value of shares of Common Stock on the date on which such dividend is paid. 

  

	5.3	In the event of any recapitalization, merger, consolidation, stock split or other significant corporate event affecting the Common Stock, the Common Stock Units credited to a
Participant’s Deferred Compensation Phantom Stock Account shall be equitably adjusted to reflect such event. No adjustment may be made pursuant to this Section 5.3 that would prevent any amount payable hereunder from being
“objectively determinable” within the meaning of Treasury Regulation section 1.409A-3(i)(1). 

  

	5.4	Payments from the Deferred Compensation Phantom Stock Account shall be made only in cash, and only in accordance with Section 6 hereof. 

 Section 6: Payments 
  

	6.1	Payments from the amount standing to the Participant’s credit in his or her Deferred Compensation Accounts shall be made due to the first to occur of the Participant’s
Retirement or the death of the Participant. If the first to occur is the Participant’s Retirement, payments shall begin on the first day of the month following the Participant’s Retirement; provided, however, that if Retirement occurs
prior to the Participant’s 60th birthday, said payments shall commence on the first day of the month following the Participant’s 60th birthday. In the event of the death of a Participant while he or she is a Director, then notwithstanding
the foregoing provisions of this Section 6.1 payment shall be made in accordance with Section 6.4. 

  

	6.2	 Subject to Section 6.3 hereof, payments due to Retirement shall be made in a lump sum or in 60 or 120 monthly installments or in 5 or 10 annual installments,
as elected by the Participant in the election form pursuant to which the Compensation in question was deferred. In the absence of an effective election to the contrary, payment due to Retirement shall be made in a lump sum. Where monthly or annual
installments were elected, (a) such installments shall be paid at monthly or annual intervals after the initial payment date determined in accordance with Section 6.1, and (b) the amount of any installment shall be determined by
dividing the amount credited to the Participant in respect of the Compensation in question as of the day before the installment is to be paid (including any appreciation or depreciation on such Compensation in the Deferred Compensation
Interest-Bearing Account and the Deferred Compensation Phantom Stock Account, as applicable), by the number of installments remaining to be paid as of that same day. For example, if as of the day before an installment is to be paid the amount
credited to the Participant is $5,000, and 5 installments remain to be paid as of that day, the amount of the installment to be paid on the next day is $1,000. If at Retirement a Participant who 

  

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elected installment payments has amounts credited to the Deferred Compensation Interest-Bearing Account and the Deferred Compensation Phantom Stock Account,
such installments shall be paid in proportionate amounts simultaneously from both such accounts. For example, if the amount of an installment to be paid is $1,000, and 75% of the amount credited to the Participant in respect of the Compensation in
question is credited to the Deferred Compensation Interest-Bearing Account and 25% is credited to the Deferred Compensation Phantom Stock Account, then the Participant shall be paid $750 of the installment from the Deferred Compensation
Interest-Bearing Account and $250 from the Deferred Compensation Phantom Stock Account. Amounts paid which relate to a Participant’s Deferred Compensation Phantom Stock Account shall be based upon the Fair Market Value of the Common Stock on
the date preceding the date of payment. 

  

	6.3	If a Participant dies after Retirement and prior to receiving payment of the full amount credited to his or her Deferred Compensation Accounts, then, notwithstanding the
Participant’s election pursuant to Section 6.2, any installments that would have been paid to the Participant in the calendar year in which death occurs if the Participant had lived shall be paid to the Participant’s Beneficiary at
the time or times they would have been paid to the Participant, and the remaining balance shall be paid to the Beneficiary in a lump sum on a date in January of the calendar year following the calendar year in which the death of the Participant
occurred, which date shall be determined by the Compensation Committee. The amount of such lump sum payment shall be based on the value of the deceased Participant’s Deferred Compensation Accounts on the day preceding the payment date.

  

	6.4	In the event of the death of a Participant while he or she is a Director, the Participant’s Deferred Compensation Accounts shall be paid to the Participant’s Beneficiary
in a lump sum on a date in the calendar year following the calendar year in which the death of the Participant occurred, which date shall be determined by the Compensation Committee. The amount of such lump sum payment shall be based on the value of
the deceased Participant’s Deferred Compensation Accounts on the day preceding the payment date. 

 Section 7:
Administration/Amendment 
  

	7.1	This Plan shall be administered by the Compensation Committee, whose interpretation of the Plan shall be binding on the Participants. 

  

	7.2	This Plan may be amended or terminated by the Board of Directors at any time; provided, however, that no such amendment or termination shall reduce or cancel any amount standing to
a Participant’s credit in the Deferred Compensation Accounts prior to the effective date of such amendment or termination, and, provided further, that no such amendment or termination may accelerate or defer compensation except as permitted by
Section 409A of the Code. 

  

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 Section 8: Section 409A Provisions 
  

	8.1	Notwithstanding any provision of this Plan to the contrary, (a) no “distributions” (within the meaning of Treasury Regulation section 1.409A-1(c)(3)(v)) of deferred
compensation that is subject to Section 409A of the Code may be made pursuant to this Plan to a “specified employee” (within the meaning of Treasury Regulation section 1.409A-1(i)) (“Specified Employee”) due to a Separation
from Service before the date that is six months after the date of such Specified Employee’s Separation from Service (or, if earlier than the end of the six month period, the date of his or her death); and (b) any distribution that, but for
the preceding clause (a), would be made before the date that is six months after the date of the Specified Employee’s Separation from Service shall be paid on the first day of the seventh month following the date of his or her Separation from
Service (or, if earlier, within 14 days after the date of his or her death). For the avoidance of doubt, the preceding sentence shall apply to any amount or benefit (and only to any amount or benefit) to be paid or provided pursuant to this Plan to
which Code Section 409A(a)(2)(B)(i) (relating to Specified Employees) applies, and shall not apply to any amount or benefit to be paid or provided pursuant to this Plan if and to the extent that such amount or benefit is not subject to
Section 409A of the Code for any reason. 

  

	8.2	 If at any time during the 12-month period ending on any “specified employee identification date”, which shall be December 31, a person who
participates in or has any legally binding right, contingent or otherwise, under this Plan (a “Plan Participant”), is in Salary Grade 20 or above or meets the requirements of Code Section 416(i)(1)(A)(ii) or (iii) (applied in
accordance with the Treasury Regulations thereunder and disregarding Code Section 416(i)(5)), then the Plan Participant shall be treated as a Specified Employee for purposes of Section 8.1 above for the entire 12-month period beginning on
the “specified employee effective date”, which shall be the January 1 that immediately follows such specified employee identification date, unless the Board of Directors or the Compensation Committee at any time prescribes a different
method of identifying service providers who will be subject to the six month delay required by Section 409A(a)(2)(B)(i) of the Code (the “Six Month Delay”) in accordance with Treasury Regulation section 1.409A-1(i) or the transition
rules and official guidance under Code Section 409A (a “Different Identification Method”) or elects a different specified employee identification date or specified employee effective date or makes any other election that may be made
in accordance with Treasury Regulation section 1.409A-1(i) or the transition rules and official guidance under Code Section 409A (a “Different Election”), in which case whether the Plan Participant shall be treated as a Specified
Employee shall be determined in accordance with any such Different Identification Method so prescribed and any such Different Election so made by the Board of Directors or the Compensation Committee. By participating or continuing to participate in
this Plan or accepting any legally binding right under 

  

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this Plan, the Plan Participant irrevocably (a) consents to any such Different Identification Method that the Board of Directors or Compensation
Committee may prescribe at any time and any such Different Election that the Board of Directors or Compensation Committee may make at any time for purposes of identifying the service providers who will be subject to the Six Month Delay with respect
to payments under this Plan, and (b) agrees that the Plan Participant’s consent to any such Different Identification Method or Different Election shall be as effective as if such Different Identification Method or Different Election were
fully set forth herein, and (c) waives any right he or she may have to consent to the Different Identification Method or Different Election in question if for any reason the Plan Participant’s consent to such Different Identification
Method or Different Election is not legally effective. 

  

	8.3	Any compensation that may be paid pursuant to this Plan is intended to comply with Section 409A of the Code, so that none of such compensation will be includible in any Plan
Participant’s federal gross income pursuant to Section 409A(a)(1)(A) of the Code. This Plan shall be administered, interpreted and construed to carry out such intention, and any provision of this Plan that cannot be so administered,
interpreted and construed shall to that extent be disregarded. However, the Company does not represent, warrant or guarantee that any compensation that may be paid or provided pursuant to this Plan will not be includible in any Plan
Participant’s federal gross income pursuant to Section 409A(a)(1)(A) of the Code, nor does the Company make any other representation, warranty or guaranty to any Plan Participant as to the tax consequences of this Plan or of participation
in this Plan. 

 *** 
  

 10Senior Executive Enhanced Life Insurance Program

 Exhibit 10.7 
 BARNES GROUP INC. 
 Senior Executive Enhanced Life Insurance Program 
 As Amended and Restated Effective December 31, 2008 
 Preamble 
 The Barnes Group Inc. Senior Executive Enhanced Life Insurance Program (the “Program”) was originally
adopted effective October 1, 1992 and was previously amended by the Board of Directors effective May 16, 1997 and December 31, 2007. 
 In accordance with the Board of Directors’ unrestricted right to amend, modify, withdraw or add to any of the benefits, terms or conditions of the Program at any time, the Board of Directors hereby amends and restates the Program
effective December 31, 2008. 
 To the extent the Program is subject to the requirements imposed by Code section 409A on nonqualified
deferred compensation plans (and the applicable guidance issued thereunder), the Program is intended to comply with such requirements and the terms of the Plan shall be interpreted consistently therewith. 
 The Program, as amended and restated effective December 31, 2008, shall not apply to any amounts (including without limitation taxable benefits) to
be paid or provided pursuant to the provisions of the Program as in effect prior to December 31, 2007 that are “grandfathered” from Code section 409A (i.e., that constitute compensation to which Code section 409A does not apply
pursuant to Treasury Regulation section 

 
1.409A-6 or any other applicable Treasury Department guidance) (“Grandfathered Amounts”). Grandfathered Amounts shall be determined in accordance
with, and be governed exclusively by, the provisions of the Program as in effect before December 31, 2007. Effective December 31, 2008, any amounts, other than Grandfathered Amounts, to be paid or provided under the Program shall be
determined in accordance with, and be governed exclusively by, the Program as amended and restated effective December 31, 2008, which is set forth herein. 
 Section 1. Purpose 
 The Senior Executive Enhanced Life Insurance Program (SEELIP) is designed to provide an alternative
to the Company’s standard group term life insurance plan to officers and selected employees of Barnes Group Inc. that provides increasing cash value and little or no post-retirement income tax liabilities. 
 Section 2. Definitions 
  

	2.1	“Affiliate” means a corporation or trade or business that, together with the Company, is a member of: (a) a controlled group of corporations, within the meaning of
Code section 414(b), or (b) a group of trades or businesses under common control, within the meaning of Code section 414(c). 

  

	2.2	“Base Salary” means annual compensation excluding any bonuses or other special compensation. 

  

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	2.3	“Benefits Committee” means the Benefits Committee appointed by the Board of Directors, which Committee has the sole authority and discretion to administer the Plan in
accordance with its terms and purposes. 

  

	2.4	“Board of Directors” means the Board of Directors of the Company. 

  

	2.5	“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

  

	2.6	“Company” means Barnes Group Inc. 

  

	2.7	“Death Benefit” means the amount of life insurance provided under the Plan pursuant to Section 5.1. 

  

	2.8	“Eligible Employee” means: (i) any officer of the Company; or (ii) an employee of the Company who has been designated to participate in the Program by the Board
of Directors; provided that, notwithstanding the foregoing, the Compensation and Management Development Committee of the Board of Directors may exclude any officer of the Company from participation in the Program at any time before an Insurance
Policy is issued to such officer under the Program. 

  

	2.9	“Insurance Policy” means the Group Flexible Premium Adjustable Life Insurance Policy issued by Massachusetts Mutual Life Insurance Company to provide the benefits under
this Plan, as in force on December 31, 2008, and any successor life insurance policy obtained to provide such benefits. The specific terms of the Insurance Policy that apply to each Participant in the Plan are reflected in an individual
certificate issued by the Massachusetts Mutual Life Insurance Company to, or on behalf of, each such Participant as the insured. 

  

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	2.10	“Life Insurance Company” means Massachusetts Mutual Life Insurance Company, or any other insurance carrier that the Company might use for this program.

  

	2.11	“Participant” means an Eligible Employee who has met insurance underwriting requirements and is issued an Insurance Policy under the terms of this Plan.

  

	2.12	“Plan” means the Barnes Group Inc. Senior Executive Enhanced Life Insurance Program (SEELIP), as amended and in effect from time to time. 

 

	 2.13
	 “Plan Year” means July 1st through June 30th. 

  

	2.14	“Reimburse” (including without limitation “Reimburse a Participant”) or “Reimbursement” means a payment by the Company to a Participant, or directly to
the Life Insurance Company or federal, state or local taxing authority on behalf of the Participant, as applicable, to pay any Required Insurance Premiums or federal, state or local income taxes attributable to such premium payments or attributable
to such payment of income taxes. For the avoidance of doubt, income taxes attributable to premium payments hereunder shall be fully grossed up, so that Participants will not incur any out-of-pocket cost for income taxes attributable to premium
payments hereunder. 

  

	2.15	“Required Insurance Premium” means the insurance premiums, if any, determined on an objective, nondiscretionary basis by the Life Insurance Company in accordance with
Section 7. 

  

	2.16	 “Separation from Service” (or “Separates from Service”) means a Participant’s death, retirement or other termination of employment with the
Company and all Affiliates. Whether a Separation from Service has occurred shall be determined 

  

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by the Benefits Committee based on all of the facts and circumstances and in accordance with Treasury Regulation section 1.409A-1(h) and any other relevant
guidance issued under Code section 409A. 

 Section 3. Administration 
 The Plan shall be administered by the Benefits Committee. 
 Section 4. Participation in the Plan 
  

	4.1	Each Eligible Employee may participate in the Plan on the first day of the Plan Year coinciding with or next following his or her date of eligibility for the Company’s group
term life insurance plan. 

  

	4.2	Eligible Employees may apply to become participants in the Plan by completing an application to the Life Insurance Company and submitting any required documentation. Acceptance in
the Plan is subject to the Life Insurance Company’s underwriting requirements. An Eligible Employee shall become a Participant in the Plan when an Insurance Policy covering him or her is issued by the Life Insurance Company.

 Section 5. Life Insurance Benefits 
  

	5.1	 The basic life insurance benefit equals four (4) times the Eligible Employee’s Base Salary, rounded up to the next $1,000, determined as of the beginning
of each Plan Year. In the case of an Eligible Employee for whom Reimbursements may be made after Separation from Service (i.e., an Eligible Employee who 

  

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before Separation from Service has attained age 55 and at least ten (10) years of service with the Company and/or an Affiliate), the Eligible
Employee’s Base Salary used to calculate his life insurance benefit under the Plan shall not be adjusted after the date the Eligible Employee experiences a Separation from Service. 

  

	5.2	When a Participant receives an increase in Base Salary, the amount of additional life insurance (equal to four (4) times the increase in Base Salary rounded up to the next
$1,000) will be provided through the Company’s group term life insurance plan unless the salary increase is granted on or before, and effective as of, the beginning of a Plan Year, in which case it will be provided under the Plan. The
additional life insurance benefit that is provided through the Company’s group term life insurance plan pursuant to the preceding sentence will be provided under the Plan as of the first day of the immediately following Plan Year, subject to
the Life Insurance Company’s underwriting requirements and provided that the Eligible Employee does not have a Separation from Service on or before such date. 

  

	5.3	The owner of the Insurance Policy is the Participant unless otherwise designated by the Participant. The cash value of the Insurance Policy belongs to the owner. Beneficiary
designations are made by the owner of the Insurance Policy and may be changed at any time. Upon termination of employment, the Insurance Policy may be continued by the policy owner. 

 Section 6. Company’s Reimbursement of Premiums and Taxes 
  

 6 

	6.1	 Subject to Sections 6.2 and 6.3, the Company shall Reimburse a Participant for all Required Insurance Premiums and the federal, state and local income taxes
attributable to the Company’s Reimbursement of the Required Insurance Premiums and the income taxes attributable thereto. For purposes of determining the amount of income taxes attributable to the Company’s Reimbursement of the Required
Insurance Premiums and the income taxes attributable thereto, the highest marginal rates at which the Participant incurs taxes shall be used. Any Required Insurance Premiums shall be Reimbursed in the quarter of the Plan Year in which
Section 7.1 or, if applicable, Section 7.3 below contemplates that they will be paid to the Life Insurance Company. In each calendar year in which Required Insurance Premiums are required to be Reimbursed pursuant to the foregoing
provisions of this Section 6.1 or Section 6.3 below, the Company shall Reimburse the Participant for the income taxes attributable to the Reimbursement of such Required Insurance Premiums and the income taxes attributable thereto. For the
avoidance of doubt, the Company shall Reimburse the Participant for the income taxes attributable to the Reimbursement of such Required Insurance Premiums and the income taxes attributable thereto when the Participant remits such income taxes within
the meaning of Treasury Regulation section 1.409A-3(i)(1)(v). Within the meaning of Treasury Regulation section 1.409A-3(i)(1)(iv), the amount of Required Insurance Premiums and income taxes eligible for reimbursement during a Participant’s
taxable year may not affect the amount of Required Insurance Premiums and income taxes eligible for reimbursement in any other taxable year, and the in-kind benefits provided pursuant to the Plan during a 

  

 7 

	 	 
Participant’s taxable year may not affect the in-kind benefits to be provided pursuant to the Plan in any other taxable year. In addition to any other
limitations and restrictions that apply pursuant to the Plan, and notwithstanding any provision of the Plan to the contrary, payment of each Reimbursement is subject to the condition that (a) the Participant must be actively employed in the
calendar year in which the Reimbursement in question is paid or, if a Reimbursement is paid on or after January 1 and on or before March 15 of a calendar year, must be actively employed in such January 1 to March 15 period or in
the immediately preceding calendar year, and must not have had a Separation from Service before the calendar year in which the Reimbursement in question is paid, unless the Reimbursement in question is paid on or after January 1 and on or
before March 15 of a calendar year, in which case must not have had a Separation from Service before the immediately preceding calendar year, or (b) the Participant must have attained age 55 and at least ten (10) years of service with
the Company and/or an Affiliate on or before the date on which such Reimbursement is paid and before a Separation from Service. 

  

	6.2	Except as provided in Section 6.3, the Company shall cease Reimbursing the Required Insurance Premiums and associated income taxes as of the end of the Plan Year quarter in
which any of the following occurs: 

  

	 	(a)	a Participant Separates from Service, or 

  

	 	(b)	a Participant obtains a loan or withdraws any portion of the cash surrender value under the Insurance Policy, or 

  

	 	(c)	six months after the commencement of an unpaid leave of absence, or 

  

 8 

	 	(d)	two years after the Participant is first absent from work because of a disability. 

  

	6.3	If a Participant who has at least ten (10) years of service with the Company and/or an Affiliate attains age fifty-five (55) before a Separation from Service occurs, the
Company shall continue to Reimburse any Required Insurance Premiums and associated income taxes in accordance with Section 6.1 during the lifetime of the Participant unless and until the Board of Directors amends the Plan to provide otherwise
pursuant to Section 9.1 or the Participant obtains a loan or withdraws any portion of the cash surrender value under the Insurance Policy. 

  

	6.4	If the Company ceases to Reimburse Required Insurance Premiums for any reason, including those in Section 6.2, the policy owner may continue paying the premium on his own, may
borrow against the policy to pay premiums, or may cash in the policy. 

 Section 7. Required Insurance Premiums 
  

	7.1	 Prior to a Participant’s Separation from Service or, if earlier, the later of (a) the end of the Plan Year in which the Participant attains age sixty-five
(65), or (b) the end of the Plan Year in which the minimum period necessary to avoid having the Insurance Policy classified as a modified endowment contract under Code section 7702A ends, the Required Insurance Premiums for any Plan Year shall
be the quarterly insurance premiums that as of the beginning of such Plan Year are required to be paid to the Life Insurance Company on the first day of each quarter during such Plan Year (i.e., July 1, October 1, January 1
and April 1) to provide 

  

 9 

	 	 
the Participant with the Death Benefit under the Insurance Policy through age one hundred (100), assuming that the Insurance Policy is to be funded only with
quarterly premiums in the same amount and on the same quarterly payment dates through the end of the Plan Year in which the Participant attains age sixty-five (65), or, if later, the end of the Plan Year in which ends the minimum period necessary to
avoid having the Insurance Policy classified as a modified endowment contract under Code section 7702A (hereinafter the “MEC Period”). The Required Insurance Premiums for any Plan Year shall be determined by the Life Insurance Company in
advance of the beginning of such Plan Year, and its determination shall be final, conclusive and binding. This annual determination by the Life Insurance Company shall be based on the Life Insurance Company’s interest crediting rate, mortality
charge rate and administrative charge rate applied to all policyholders of the Life Insurance Company with the same type of Insurance Policy provided under this Plan as of the beginning of the Plan Year in question. 

  

	7.2	If a Participant who has at least ten (10) years of service with the Company and/or an Affiliate Separates from Service after attaining age fifty-five (55), but before
attaining age sixty-five (65), or, if later, the end of the MEC Period, the Life Insurance Company shall annually make the same determination as described in Section 7.1 through the end of the Plan Year in which the Participant attains age
sixty-five (65), or, if later, the end of the Plan Year in which the MEC Period ends, for purposes of determining the Participant’s Required Insurance Premiums. 

  

 10 

	7.3	After the end of the Plan Year in which a Participant attains age sixty-five (65), or, if later, in which the MEC Period ends, the Required Insurance Premiums (if any) for any Plan
Year shall be the quarterly insurance premiums determined by the Life Insurance Company in advance of such Plan Year, that if paid to the Life Insurance Company in substantially equal payments on the first day of each quarter during such Plan Year
(i.e., July 1, October 1, January 1 and April 1) and the immediately following Plan Year (i.e., over a two-Plan Year period) or, if longer, paid to the Life Insurance Company in substantially equal quarterly payments in
such Plan Year and each subsequent Plan Year commencing during the MEC Period, would be required to maintain the Death Benefit through age one-hundred (100), using the same assumptions prescribed in the last sentence of Section 7.1 as of the
beginning of such Plan Year; provided, however, that there shall be no such Required Insurance Premiums pursuant to this Section 7.3 for any Plan Year on or before July 1 of which the Participant Separated from Service with less than ten
(10) years of service with the Company and/or an Affiliate or before attaining age fifty-five (55). The Required Insurance Premiums determined under this Section 7.3 for any Plan Year (if any) shall be determined as of the beginning of
such Plan Year and any Required Insurance Premiums for any subsequent Plan Year shall be based solely on the separate determination for such subsequent Plan Year (i.e., a separate determination will be made for each Plan Year regardless of whether
the determination with respect to a prior Plan Year was based on premiums being paid over more than one Plan Year). 

  

 11 

	7.4	Subject to the last sentence of Section 6.1 above, if a Participant Separates from Service before attaining age fifty-five (55) or ten (10) years of service with the
Company and/or an Affiliate, there shall be no Required Insurance Premiums or other Reimbursements after the quarter of the Plan Year in which such Separation from Service occurs. 

  

	7.5	Notwithstanding the preceding provisions of this Section 7 (other than Section 7.4), if a Participant obtains a loan or withdraws any portion of the cash surrender value
under the Insurance Policy before his or her death, the Participant will no longer be eligible to participate in the Plan and there shall be no Required Insurance Premiums after the quarter of the Plan Year in which such loan or withdrawal occurs.

 Section 8. Sole Life Insurance Benefit 
 Notwithstanding anything to the contrary in any benefit materials or summary plan descriptions, a Participant in the Plan shall have no rights to any benefits under any other group life insurance program funded in
whole or in part by the Company or any Affiliates. 
 Section 9. Miscellaneous 
  

	9.1	Notwithstanding any other provision herein to the contrary, the Board of Directors reserves the right to amend, modify, withdraw or add to any of the benefits, terms or conditions
of the Plan at any time. 

  

 12 

	9.2	The Benefits Committee shall, in its sole discretion, interpret and construe the Plan’s terms and provisions and determine an individual’s eligibility for benefits. Any
interpretations, constructions or determinations made by the Benefits Committee in good faith shall be final and binding on all parties. 

  

	9.3	Circumstances not specifically covered in this Plan document will be reviewed by the Benefits Committee and the Benefits Committee in its discretion will apply such rules as it
deems appropriate. 

 Section 10. Section 409A Provisions 
  

	10.1	A Participant’s right to the Reimbursements provided by Section 6.1 and Section 6.3 shall be treated as a right to a series of separate payments for purposes of Code
section 409A, including without limitation for purposes of the short-term deferral rule set forth in Treasury Regulation section 1.409A-1(b)(4). 

  

	10.2	 Any provision of the Plan to the contrary notwithstanding, if any payments or benefits under the Plan to or on behalf of a specified employee within the meaning of
Treasury Regulation section 1.409A-1(i)(“Specified Employee”) are deferred compensation subject to section 409A of the Code and are deemed to be made due to a Separation from Service, then any such payments or benefits that would otherwise
be paid or provided during the six-month period following such Separation from Service shall not be paid or provided during such six month period but instead shall be accumulated (within the meaning of Treasury Regulation section 1.409A-3(i)(2)(ii))
and paid or provided on the first day of the seventh month following the date of such Separation from Service (or, if earlier, 

  

 13 

	 	 
within 14 days after the death of the specified employee). For the avoidance of doubt, the preceding sentence shall apply to any amount or benefit (and only
to any amount or benefit) to be paid or provided pursuant to this Plan to which Code section 409A(a)(2)(B)(i) (relating to Specified Employees) applies, and shall not apply to any payment or benefit that is not subject to Code section 409A as a
result of Treasury Regulation section 1.409A-1(b)(4) (relating to short-term deferrals), Treasury Regulation section 1.409A-1(b)(9) (relating to separation pay plans), or otherwise. 

  

	10.3	 If at any time during the 12-month period ending on any “specified employee identification date”, which shall be December 31, a person who
participates in or has any legally binding right, contingent or otherwise, under this Plan (a “Plan Participant”), is in Salary Grade 20 or above or meets the requirements of Code section 416(i)(1)(A)(ii) or (iii) (applied in
accordance with the Treasury Regulations thereunder and disregarding Code section 416(i)(5)), then the Plan Participant shall be treated as a Specified Employee for purposes of Section 10.2 above for the entire 12-month period beginning on the
“specified employee effective date”, which shall be the January 1 that immediately follows such specified employee identification date, unless the Board of Directors or its Compensation and Management Development Committee (the
“CMDC”) at any time prescribes a different method of identifying service providers who will be subject to the six month delay required by section 409A(a)(2)(B)(i) of the Code (the “Six Month Delay”) in accordance with Treasury
Regulation section 1.409A-1(i) or the transition rules and official guidance under Code section 409A (a 

  

 14 

	 	 
“Different Identification Method”) or elects a different specified employee identification date or specified employee effective date or makes any
other election that may be made in accordance with Treasury Regulation section 1.409A-1(i) or the transition rules and official guidance under Code section 409A (a “Different Election”), in which case whether the Plan Participant shall be
treated as a Specified Employee shall be determined in accordance with any such Different Identification Method so prescribed and any such Different Election so made by the Board of Directors or the CMDC. By participating or continuing to
participate in this Plan or accepting any legally binding right or benefit under this Plan, each Plan Participant irrevocably (a) consents to any such Different Identification Method that the Board of Directors or CMDC may prescribe at any time
and any such Different Election that the Board of Directors or CMDC may make at any time for purposes of identifying the service providers who will be subject to the Six Month Delay with respect to payments under this Plan, and (b) agrees that
the Plan Participant’s consent to any such Different Identification Method or Different Election shall be as effective as if such Different Identification Method or Different Election were fully set forth herein, and (c) waives any right
he or she may have to consent to the Different Identification Method or Different Election in question if for any reason the Plan Participant’s consent to such Different Identification Method or Different Election is not legally effective.

  

	10.4	 Any payments that may be made and benefits that may be provided pursuant to this Plan are intended to qualify for an exclusion from section 409A of the Code 

  

 15 

	 	 
(including without limitation the exclusion for short-term deferrals under Treasury Regulation section 1.409A-1(b)(4)) and/or are intended to meet the
requirements of section 409A(a)(2), (3) and (4) of the Code, so that none of the payments that may be made and benefits that may be provided pursuant to this Plan will be includible in any Plan Participant’s federal gross income
pursuant to section 409A(a)(1)(A) of the Code. This Plan shall be administered, interpreted and construed to carry out such intentions, and any provision of this Plan that cannot be so administered, interpreted and construed shall to that extent be
disregarded. However, the Company does not represent, warrant or guarantee that any payments that may be made and benefits that may be provided pursuant to this Plan will not be includible in any Plan Participant’s federal gross income pursuant
to section 409A(a)(1)(A) of the Code, nor does the Company make any other representation, warranty or guaranty to any Plan Participant as to the tax consequences of this Plan or of participation in this Plan. 

 Initially Effective October 1, 1992 
 As Amended:  5/16/1997

                         12/31/2007

                         12/31/08

  

 16

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