Document:

Exhibit 4.7 

 

ELOXX PHARMACEUTICALS, INC. 

 

and 

 

[•], AS WARRANT AGENT 

 

FORM OF DEBT SECURITIES 

WARRANT AGREEMENT 

DATED AS OF [•], 20[•]

 

     

     

    

 

ELOXX PHARMACEUTICALS, INC. 

FORM OF DEBT SECURITIES WARRANT AGREEMENT

 

This DEBT SECURITIES WARRANT AGREEMENT (this “Agreement”),
dated as of between ELOXX PHARMACEUTICALS, INC., a Delaware corporation (the “Company”), and [●],
a [corporation] [national banking association] organized and existing under the laws of and having a corporate trust office in
[●], as warrant agent (the “Warrant Agent”).

 

WHEREAS, the Company has entered into an indenture dated
as of (the “Indenture”), with , as trustee (such trustee, and any successors to such trustee, herein
called the “Trustee”), providing for the issuance from time to time of its debt securities, to be issued
in one or more series as provided in the Indenture (the “Debt Securities”);

 

WHEREAS, the Company proposes to sell [If Warrants are
sold with other securities — title of such other securities being offered (the “Other Securities”)
with] warrant certificates evidencing one or more warrants (the “Warrants” or, individually, a “Warrant”)
representing the right to purchase [title of Debt Securities purchasable through exercise of Warrants] (the “Warrant
Debt Securities”), such warrant certificates and other warrant certificates issued pursuant to this Agreement being
herein called the “Warrant Certificates”; and

 

WHEREAS, the Company desires the Warrant Agent to act
on behalf of the Company, and the Warrant Agent is willing so to act, in connection with the issuance, registration, transfer,
exchange, exercise and replacement of the Warrant Certificates, and in this Agreement wishes to set forth, among other things,
the form and provisions of the Warrant Certificates and the terms and conditions on which they may be issued, registered, transferred,
exchanged, exercised and replaced.

 

NOW, THEREFORE, in consideration of the premises and
of the mutual agreements herein contained, the parties hereto agree as follows:

 

ARTICLE 1 

ISSUANCE OF WARRANTS AND EXECUTION AND

DELIVERY OF WARRANT CERTIFICATES 

 

1.1 Issuance of Warrants. [If Warrants alone —
Upon issuance, each Warrant Certificate shall evidence one or more Warrants.] [If Other Securities and Warrants — Warrant
Certificates shall be [initially] issued in connection with the issuance of the Other Securities [but shall be separately transferable
on and after (the “Detachable Date”)] [and shall not be separately transferable] and each Warrant Certificate
shall evidence one or more Warrants.] Each Warrant evidenced thereby shall represent the right, subject to the provisions contained
herein and therein, to purchase one Warrant Debt Security. [If Other Securities and Warrants — Warrant Certificates shall
be initially issued in units with the Other Securities and each Warrant Certificate included in such a unit shall evidence Warrants
for each [$ principal amount] [ shares] of Other Securities included in such unit].

 

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1.2 Execution and Delivery of Warrant Certificates. Each
Warrant Certificate, whenever issued, shall be in registered form substantially in the form set forth in Exhibit A hereto,
shall be dated the date of its countersignature by the Warrant Agent and may have such letters, numbers, or other marks of identification
or designation and such legends or endorsements printed, lithographed or engraved thereon as the officers of the Company executing
the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions
of this Agreement, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any
rule or regulation of any securities exchange on which the Warrants may be listed, or to conform to usage. The Warrant Certificates
shall be signed on behalf of the Company by any of its present or future chief executive officers, presidents, senior vice presidents,
vice presidents, chief financial officers, chief legal officers, treasurers, assistant treasurers, controllers, assistant controllers,
secretaries or assistant secretaries under its corporate seal reproduced thereon. Such signatures may be manual or facsimile signatures
of such authorized officers and may be imprinted or otherwise reproduced on the Warrant Certificates. The seal of the Company may
be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced on the Warrant Certificates.

 

No Warrant Certificate shall be valid for any purpose, and no
Warrant evidenced thereby shall be exercisable, until such Warrant Certificate has been countersigned by the manual signature of
the Warrant Agent. Such signature by the Warrant Agent upon any Warrant Certificate executed by the Company shall be conclusive
evidence that the Warrant Certificate so countersigned has been duly issued hereunder.

 

In case any officer of the Company who shall have signed any
of the Warrant Certificates either manually or by facsimile signature shall cease to be such officer before the Warrant Certificates
so signed shall have been countersigned and delivered by the Warrant Agent, such Warrant Certificates may be countersigned and
delivered notwithstanding that the person who signed such Warrant Certificates ceased to be such officer of the Company; and any
Warrant Certificate may be signed on behalf of the Company by such persons as, at the actual date of the execution of such Warrant
Certificate, shall be the proper officers of the Company, although at the date of the execution of this Agreement any such person
was not such officer.

 

The term “holder” or “holder of a Warrant
Certificate” as used herein shall mean any person in whose name at the time any Warrant Certificate shall be registered upon
the books to be maintained by the Warrant Agent for that purpose [If Other Securities and Warrants are not immediately detachable
— or upon the registration of the Other Securities prior to the Detachable Date. Prior to the Detachable Date, the Company
will, or will cause the registrar of the Other Securities to, make available at all times to the Warrant Agent such information
as to holders of the Other Securities as may be necessary to keep the Warrant Agent’s records up to date].

 

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1.3 Issuance of Warrant Certificates. Warrant Certificates
evidencing the right to purchase Warrant Debt Securities may be executed by the Company and delivered to the Warrant Agent upon
the execution of this Warrant Agreement or from time to time thereafter. The Warrant Agent shall, upon receipt of Warrant Certificates
duly executed on behalf of the Company, countersign such Warrant Certificates and shall deliver such Warrant Certificates to or
upon the order of the Company.

 

ARTICLE 2 

WARRANT PRICE, DURATION AND EXERCISE
OF WARRANTS 

 

2.1 Warrant Price. During the period specified in Section 2.2,
each Warrant shall, subject to the terms of this Warrant Agreement and the applicable Warrant Certificate, entitle the holder thereof,
to purchase the principal amount of Warrant Debt Securities specified in the applicable Warrant Certificate at an exercise price
of % of the principal amount thereof [plus accrued amortization, if any, of the original issue discount of the Warrant Debt Securities]
[plus accrued interest, if any, from the most recent date from which interest shall have been paid on the Warrant Debt Securities
or, if no interest shall have been paid on the Warrant Debt Securities, from the date of their initial issuance.] [The original
issue discount ($ for each $1,000 principal amount of Warrant Debt Securities) will be amortized at a % annual rate, computed on
a[n] [semi-] annual basis [using a 360-day year consisting of twelve 30-day months].] Such purchase price for the Warrant Debt
Securities is referred to in this Agreement as the “Warrant Price.”

 

2.2 Duration of Warrants. Each Warrant may be exercised
in whole or in part at any time, as specified herein, on or after [the date thereof] [            ]
and at or before [            ] p.m., [City] time, on or such later
date as the Company may designate by notice to the Warrant Agent and the holders of Warrant Certificates mailed to their addresses
as set forth in the record books of the Warrant Agent (the “Expiration Date”). Each Warrant not exercised
at or before [ ] p.m., [City] time, on the Expiration Date shall become void, and all rights of the holder of the Warrant Certificate
evidencing such Warrant under this Agreement shall cease.

 

2.3 Exercise Of Warrants. 

 

(a) During the period specified in Section 2.2,
the Warrants may be exercised to purchase a whole number of Warrant Debt Securities in registered form by providing certain information
as set forth on the reverse side of the Warrant Certificate and by paying in full, in lawful money of the United States of America,
[in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available
funds] the Warrant Price for each Warrant Debt Security with respect to which a Warrant is being exercised to the Warrant Agent
at its corporate trust office, provided that such exercise is subject to receipt within five business days of such payment by the
Warrant Agent of the Warrant Certificate with the form of election to purchase Warrant Debt Securities set forth on the reverse
side of the Warrant Certificate properly completed and duly executed. The date on which payment in full of the Warrant Price is
received by the Warrant Agent shall, subject to receipt of the Warrant Certificate as aforesaid, be deemed to be the date on which
the Warrant is exercised; provided, however, that if, at the date of receipt of such Warrant Certificates and payment in full of
the Warrant Price, the transfer books for the Warrant Debt Securities purchasable upon the exercise of such Warrants shall be closed,
no such receipt of such Warrant Certificates and no such payment of such Warrant Price shall be effective to constitute the person
so designated to be named as the holder of record of such Warrant Debt Securities on such date, but shall be effective to constitute
such person as the holder of record of such Warrant Debt Securities for all purposes at the opening of business on the next succeeding
day on which the transfer books for the Warrant Debt Securities purchasable upon the exercise of such Warrants shall be opened,
and the certificates for the Warrant Debt Securities in respect of which such Warrants are then exercised shall be issuable as
of the date on such next succeeding day on which the transfer books shall next be opened, and until such date the Company shall
be under no duty to deliver any certificate for such Warrant Debt Securities. The Warrant Agent shall deposit all funds received
by it in payment of the Warrant Price in an account of the Company maintained with it and shall advise the Company by telephone
at the end of each day on which a payment for the exercise of Warrants is received of the amount so deposited to its account. The
Warrant Agent shall promptly confirm such telephone advice to the Company in writing.

 

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(b) The Warrant Agent shall, from time to time, as promptly
as practicable, advise the Company of (i) the number of Warrant Debt Securities with respect to which Warrants were exercised,
(ii) the instructions of each holder of the Warrant Certificates evidencing such Warrants with respect to delivery of the
Warrant Debt Securities to which such holder is entitled upon such exercise, (iii) delivery of Warrant Certificates evidencing
the balance, if any, of the Warrants for the remaining Warrant Debt Securities after such exercise, and (iv) such other information
as the Company or the Trustee shall reasonably require.

 

(c) As soon as practicable after the exercise of any
Warrant, the Company shall issue, pursuant to the Indenture, in authorized denominations, to or upon the order of the holder of
the Warrant Certificate evidencing such Warrant, the Warrant Debt Securities to which such holder is entitled, in fully registered
form, registered in such name or names as may be directed by such holder. If fewer than all of the Warrants evidenced by such Warrant
Certificate are exercised, the Company shall execute, and an authorized officer of the Warrant Agent shall manually countersign
and deliver, a new Warrant Certificate evidencing Warrants for the number of Warrant Debt Securities remaining unexercised.

 

(d) The Company shall not be required to pay any stamp
or other tax or other governmental charge required to be paid in connection with any transfer involved in the issue of the Warrant
Debt Securities, and in the event that any such transfer is involved, the Company shall not be required to issue or deliver any
Warrant Debt Securities until such tax or other charge shall have been paid or it has been established to the Company’s satisfaction
that no such tax or other charge is due.

 

(e) Prior to the issuance of any Warrants there shall
have been reserved, and the Company shall at all times through the Expiration Date keep reserved, out of its authorized but unissued
Warrant Debt Securities, a number of shares sufficient to provide for the exercise of the Warrants.

 

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ARTICLE 3 

OTHER PROVISIONS RELATING TO 

RIGHTS OF HOLDERS OF WARRANT CERTIFICATES

 

3.1 No Rights As Holders of Warrant Debt Securities Conferred
By Warrants or Warrant Certificates. No Warrant Certificate or Warrant evidenced thereby shall entitle the holder thereof to
any of the rights of a holder of Warrant Debt Securities, including, without limitation, the right to receive the payment of principal
of (or premium, if any) or interest, if any, on the Warrant Debt Securities or to enforce any of the covenants in the Indenture.

 

3.2 Lost, Stolen, Mutilated or Destroyed Warrant Certificates.
Upon receipt by the Warrant Agent of evidence reasonably satisfactory to it and the Company of the ownership of and the loss, theft,
destruction or mutilation of any Warrant Certificate and/or indemnity reasonably satisfactory to the Warrant Agent and the Company
and, in the case of mutilation, upon surrender of the mutilated Warrant Certificate to the Warrant Agent for cancellation, then,
in the absence of notice to the Company or the Warrant Agent that such Warrant Certificate has been acquired by a bona fide purchaser,
the Company shall execute, and an authorized officer of the Warrant Agent shall manually countersign and deliver, in exchange for
or in lieu of the lost, stolen, destroyed or mutilated Warrant Certificate, a new Warrant Certificate of the same tenor and evidencing
Warrants for a like principal amount of Warrant Debt Securities. Upon the issuance of any new Warrant Certificate under this Section 3.2,
the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation
thereto and any other expenses (including the fees and expenses of the Warrant Agent) in connection therewith. Every substitute
Warrant Certificate executed and delivered pursuant to this Section 3.2 in lieu of any lost, stolen or destroyed Warrant Certificate
shall represent an additional contractual obligation of the Company, whether or not the lost, stolen or destroyed Warrant Certificate
shall be at any time enforceable by anyone, and shall be entitled to the benefits of this Agreement equally and proportionately
with any and all other Warrant Certificates duly executed and delivered hereunder. The provisions of this Section 3.2 are
exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement of mutilated,
lost, stolen or destroyed Warrant Certificates.

 

3.3 Holder Of Warrant Certificate May Enforce Rights.
Notwithstanding any of the provisions of this Agreement, any holder of any Warrant Certificate, without the consent of the Warrant
Agent, the Trustee, the holder of any Warrant Debt Securities or the holder of any other Warrant Certificate, may, in such holder’s
own behalf and for such holder’s own benefit, enforce, and may institute and maintain any suit, action or proceeding against
the Company suitable to enforce, or otherwise in respect of, such holder’s right to exercise the Warrants evidenced by such
holder’s Warrant Certificate in the manner provided in such holder’s Warrant Certificates and in this Agreement.

 

3.4 Merger, Sale, Conveyance or Lease. In case of (a) any
share exchange, merger or similar transaction of the Company with or into another person or entity (other than a share exchange,
merger or similar transaction in which the Company is the acquiring or surviving corporation) or (b) the sale, exchange, lease,
transfer or other disposition of all or substantially all of the properties and assets of the Company as an entirety (in any such
case, a “Reorganization Event”), then, as a condition of such Reorganization Event, lawful provisions
shall be made, and duly executed documents evidencing the same from the Company’s successor shall be delivered to the holders
of the Warrants, so that such successor shall succeed to and be substituted for the Company, and assume all the Company’s
obligations under, this Agreement and the Warrants. The Company shall thereupon be relieved of any further obligation hereunder
or under the Warrants, and the Company as the predecessor corporation may thereupon or at any time thereafter be dissolved, wound
up or liquidated. Such successor or assuming entity thereupon may cause to be signed, and may issue either in its own name or in
the name of the Company, any or all of the Warrants issuable hereunder which heretofore shall not have been signed by the Company,
and may execute and deliver securities in its own name, in fulfillment of its obligations to deliver Warrant Debt Securities upon
exercise of the Warrants. All the Warrants so issued shall in all respects have the same legal rank and benefit under this Agreement
as the Warrants theretofore or thereafter issued in accordance with the terms of this Agreement as though all of such Warrants
had been issued at the date of the execution hereof. In any case of any such Reorganization Event, such changes in phraseology
and form (but not in substance) may be made in the Warrants thereafter to be issued as may be appropriate. The Warrant Agent may
receive a written opinion of legal counsel as conclusive evidence that any such Reorganization Event complies with the provisions
of this Section 3.4.

 

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3.5 Notice To Warrantholders. In case the Company shall
(a) effect any Reorganization Event or (b) make any distribution on or in respect of the [title of Warrant Debt Securities]
in connection with the dissolution, liquidation or winding up of the Company, then the Company shall mail to each holder of Warrants
at such holder’s address as it shall appear on the books of the Warrant Agent, at least ten days prior to the applicable
date hereinafter specified, a notice stating the date on which such Reorganization Event, dissolution, liquidation or winding up
is expected to become effective, and the date as of which it is expected that holders of [title of Warrant Debt Securities] of
record shall be entitled to exchange their shares of [title of Warrant Debt Securities] for securities or other property deliverable
upon such Reorganization Event, dissolution, liquidation or winding up. No failure to mail such notice nor any defect therein or
in the mailing thereof shall affect any such transaction.

 

ARTICLE 4 

EXCHANGE AND TRANSFER OF WARRANT CERTIFICATES

 

4.1 Exchange and Transfer of Warrant Certificates. [If
Other Securities with Warrants which are immediately detachable — Upon] [If Other Securities with Warrants which are not
immediately detachable — Prior to the Detachable Date, a Warrant Certificate may be exchanged or transferred only together
with the Other Security to which the Warrant Certificate was initially attached, and only for the purpose of effecting or in conjunction
with an exchange or transfer of such Other Security. Prior to any Detachable Date, each transfer of the Other Security shall operate
also to transfer the related Warrant Certificates. After the Detachable Date, upon] surrender at the corporate trust office of
the Warrant Agent, Warrant Certificates evidencing Warrants may be exchanged for Warrant Certificates in other denominations evidencing
such Warrants or the transfer thereof may be registered in whole or in part; provided that such other Warrant Certificates evidence
Warrants for the same aggregate principal amount of Warrant Debt Securities as the Warrant Certificates so surrendered. The Warrant
Agent shall keep, at its corporate trust office, books in which, subject to such reasonable regulations as it may prescribe, it
shall register Warrant Certificates and exchanges and transfers of outstanding Warrant Certificates, upon surrender of the Warrant
Certificates to the Warrant Agent at its corporate trust office for exchange or registration of transfer, properly endorsed or
accompanied by appropriate instruments of registration of transfer and written instructions for transfer, all in form satisfactory
to the Company and the Warrant Agent. No service charge shall be made for any exchange or registration of transfer of Warrant Certificates,
but the Company may require payment of a sum sufficient to cover any stamp or other tax or other governmental charge that may be
imposed in connection with any such exchange or registration of transfer. Whenever any Warrant Certificates are so surrendered
for exchange or registration of transfer, an authorized officer of the Warrant Agent shall manually countersign and deliver to
the person or persons entitled thereto a Warrant Certificate or Warrant Certificates duly authorized and executed by the Company,
as so requested. The Warrant Agent shall not be required to effect any exchange or registration of transfer which will result in
the issuance of a Warrant Certificate evidencing a Warrant for a fraction of a Warrant Debt Security or a number of Warrants for
a whole number of Warrant Debt Securities and a fraction of a Warrant Debt Security. All Warrant Certificates issued upon any exchange
or registration of transfer of Warrant Certificates shall be the valid obligations of the Company, evidencing the same obligations
and entitled to the same benefits under this Agreement as the Warrant Certificate surrendered for such exchange or registration
of transfer.

 

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4.2 Treatment of Holders of Warrant Certificates. [If
Other Securities and Warrants are not immediately detachable — Prior to the Detachable Date, the Company, the Warrant Agent
and all other persons may treat the owner of the Other Security as the owner of the Warrant Certificates initially attached thereto
for any purpose and as the person entitled to exercise the rights represented by the Warrants evidenced by such Warrant Certificates,
any notice to the contrary notwithstanding. After the Detachable Date and prior to due presentment of a Warrant Certificate for
registration of transfer, the] [The] Company, the Warrant Agent and all other persons may treat the registered holder of a Warrant
Certificate as the absolute owner thereof for any purpose and as the person entitled to exercise the rights represented by the
Warrants evidenced thereby, any notice to the contrary notwithstanding.

 

4.3 Cancellation of Warrant Certificates. Any Warrant
Certificate surrendered for exchange, registration of transfer or exercise of the Warrants evidenced thereby shall, if surrendered
to the Company, be delivered to the Warrant Agent and all Warrant Certificates surrendered or so delivered to the Warrant Agent
shall be promptly canceled by the Warrant Agent and shall not be reissued and, except as expressly permitted by this Agreement,
no Warrant Certificate shall be issued hereunder in exchange therefor or in lieu thereof. The Warrant Agent shall deliver to the
Company from time to time or otherwise dispose of canceled Warrant Certificates in a manner satisfactory to the Company.

 

ARTICLE 5 

CONCERNING THE WARRANT AGENT 

 

5.1 Warrant Agent. The Company hereby appoints as Warrant
Agent of the Company in respect of the Warrants and the Warrant Certificates upon the terms and subject to the conditions herein
set forth, and hereby accepts such appointment. The Warrant Agent shall have the powers and authority granted to and conferred
upon it in the Warrant Certificates and hereby and such further powers and authority to act on behalf of the Company as the Company
may hereafter grant to or confer upon it. All of the terms and provisions with respect to such powers and authority contained in
the Warrant Certificates are subject to and governed by the terms and provisions hereof.

 

5.2 Conditions of Warrant Agent’s Obligations.
The Warrant Agent accepts its obligations herein set forth upon the terms and conditions hereof, including the following to all
of which the Company agrees and to all of which the rights hereunder of the holders from time to time of the Warrant Certificates
shall be subject:

 

(a) Compensation and Indemnification. The Company agrees
promptly to pay the Warrant Agent the compensation to be agreed upon with the Company for all services rendered by the Warrant
Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable counsel fees) incurred without
negligence, bad faith or willful misconduct by the Warrant Agent in connection with the services rendered hereunder by the Warrant
Agent. The Company also agrees to indemnify the Warrant Agent for, and to hold it harmless against, any loss, liability or expense
incurred without negligence, bad faith or willful misconduct on the part of the Warrant Agent, arising out of or in connection
with its acting as Warrant Agent hereunder, including the reasonable costs and expenses of defending against any claim of such
liability.

 

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(b) Agent for the Company. In acting under this Warrant
Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and does
not assume any obligations or relationship of agency or trust for or with any of the holders of Warrant Certificates or beneficial
owners of Warrants.

 

(c) Counsel. The Warrant Agent may consult with counsel
satisfactory to it, which may include counsel for the Company, and the written advice of such counsel shall be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in accordance
with the advice of such counsel.

 

(d) Documents. The Warrant Agent shall be protected and
shall incur no liability for or in respect of any action taken or omitted by it in reliance upon any Warrant Certificate, notice,
direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it to be genuine and to
have been presented or signed by the proper parties.

 

(e) Certain Transactions. The Warrant Agent, and its
officers, directors and employees, may become the owner of, or acquire any interest in, Warrants, with the same rights that it
or they would have if it were not the Warrant Agent hereunder, and, to the extent permitted by applicable law, it or they may engage
or be interested in any financial or other transaction with the Company and may act on, or as depositary, trustee or agent for,
any committee or body of holders of Warrant Debt Securities or other obligations of the Company as freely as if it were not the
Warrant Agent hereunder. Nothing in this Warrant Agreement shall be deemed to prevent the Warrant Agent from acting as Trustee
under the Indenture.

 

(f) No Liability for Interest. Unless otherwise agreed
with the Company, the Warrant Agent shall have no liability for interest on any monies at any time received by it pursuant to any
of the provisions of this Agreement or of the Warrant Certificates.

 

(g) No Liability for Invalidity. The Warrant Agent shall
have no liability with respect to any invalidity of this Agreement or any of the Warrant Certificates (except as to the Warrant
Agent’s countersignature thereon).

 

(h) No Responsibility for Representations. The Warrant
Agent shall not be responsible for any of the recitals or representations herein or in the Warrant Certificates (except as to the
Warrant Agent’s countersignature thereon), all of which are made solely by the Company.

 

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(i) No Implied Obligations. The Warrant Agent shall be
obligated to perform only such duties as are herein and in the Warrant Certificates specifically set forth and no implied duties
or obligations shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall
not be under any obligation to take any action hereunder which may tend to involve it in any expense or liability, the payment
of which within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant Agent shall not be accountable
or under any duty or responsibility for the use by the Company of any of the Warrant Certificates authenticated by the Warrant
Agent and delivered by it to the Company pursuant to this Agreement or for the application by the Company of the proceeds of the
Warrant Certificates. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance
of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand
from a holder of a Warrant Certificate with respect to such default, including, without limiting the generality of the foregoing,
any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise or, except as provided in Section 6.2
hereof, to make any demand upon the Company.

 

5.3 Resignation, Removal and Appointment of Successors. 

 

(a) The Company agrees, for the benefit of the holders
from time to time of the Warrant Certificates, that there shall at all times be a Warrant Agent hereunder until all the Warrants
have been exercised or are no longer exercisable.

 

(b) The Warrant Agent may at any time resign as agent
by giving written notice to the Company of such intention on its part, specifying the date on which its desired resignation shall
become effective; provided that such date shall not be less than three months after the date on which such notice is given unless
the Company otherwise agrees. The Warrant Agent hereunder may be removed at any time by the filing with it an instrument in writing
signed by or on behalf of the Company and specifying such removal and the intended date when it shall become effective. Such resignation
or removal shall take effect upon the appointment by the Company, as hereinafter provided, of a successor Warrant Agent (which
shall be a bank or trust company authorized under the laws of the jurisdiction of its organization to exercise corporate trust
powers) and the acceptance of such appointment by such successor Warrant Agent. The obligation of the Company under Section 5.2(a)
shall continue to the extent set forth therein notwithstanding the resignation or removal of the Warrant Agent.

 

(c) In case at any time the Warrant Agent shall resign,
or shall be removed, or shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or shall commence a voluntary
case under the Federal bankruptcy laws, as now or hereafter constituted, or under any other applicable Federal or state bankruptcy,
insolvency or similar law or shall consent to the appointment of or taking possession by a receiver, custodian, liquidator, assignee,
trustee, sequestrator (or other similar official) of the Warrant Agent or its property or affairs, or shall make an assignment
for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due, or shall take
corporate action in furtherance of any such action, or a decree or order for relief by a court having jurisdiction in the premises
shall have been entered in respect of the Warrant Agent in an involuntary case under the Federal bankruptcy laws, as now or hereafter
constituted, or any other applicable Federal or state bankruptcy, insolvency or similar law, or a decree or order by a court having
jurisdiction in the premises shall have been entered for the appointment of a receiver, custodian, liquidator, assignee, trustee,
sequestrator (or similar official) of the Warrant Agent or of its property or affairs, or any public officer shall take charge
or control of the Warrant Agent or of its property or affairs for the purpose of rehabilitation, conservation, winding up or liquidation,
a successor Warrant Agent, qualified as aforesaid, shall be appointed by the Company by an instrument in writing, filed with the
successor Warrant Agent. Upon the appointment as aforesaid of a successor Warrant Agent and acceptance by the successor Warrant
Agent of such appointment, the Warrant Agent shall cease to be Warrant Agent hereunder.

 

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(d) Any successor Warrant Agent appointed hereunder shall
execute, acknowledge and deliver to its predecessor and to the Company an instrument accepting such appointment hereunder, and
thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall become vested with all the authority,
rights, powers, trusts, immunities, duties and obligations of such predecessor with like effect as if originally named as Warrant
Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon become obligated
to transfer, deliver and pay over, and such successor Warrant Agent shall be entitled to receive, all monies, securities and other
property on deposit with or held by such predecessor, as Warrant Agent hereunder.

 

(e) Any corporation into which the Warrant Agent hereunder
may be merged or converted or any corporation with which the Warrant Agent may be consolidated, or any corporation resulting from
any merger, conversion or consolidation to which the Warrant Agent shall be a party, or any corporation to which the Warrant Agent
shall sell or otherwise transfer all or substantially all the assets and business of the Warrant Agent, provided that it shall
be qualified as aforesaid, shall be the successor Warrant Agent under this Agreement without the execution or filing of any paper
or any further act on the part of any of the parties hereto.

 

ARTICLE 6 

MISCELLANEOUS 

 

6.1 Amendment. This Agreement may be amended by the parties
hereto, without the consent of the holder of any Warrant Certificate, for the purpose of curing any ambiguity, or of curing, correcting
or supplementing any defective provision contained herein, or making any other provisions with respect to matters or questions
arising under this Agreement as the Company and the Warrant Agent may deem necessary or desirable; provided that such action shall
not materially adversely affect the interests of the holders of the Warrant Certificates.

 

6.2 Notices and Demands to the Company and Warrant Agent.
If the Warrant Agent shall receive any notice or demand addressed to the Company by the holder of a Warrant Certificate pursuant
to the provisions of the Warrant Certificates, the Warrant Agent shall promptly forward such notice or demand to the Company.

 

6.3 Addresses. Any communication from the Company to
the Warrant Agent with respect to this Agreement shall be addressed to [•], [•], Attention: [•], and any communication
from the Warrant Agent to the Company with respect to this Agreement shall be addressed to Eloxx Pharmaceuticals, Inc., 950 Winter
Street, Waltham, MA, 02451, Attention: [•] (or such other address as shall be specified in writing by the Warrant Agent or
by the Company).

 

6.4 Governing Law. This Agreement and each Warrant Certificate
issued hereunder, and any claim, controversy or dispute arising under or related to this Agreement or any Warrant Certificate,
shall be governed by and construed in accordance with the laws of the State of New York.

 

6.5 Delivery Of Prospectus. The Company shall furnish
to the Warrant Agent sufficient copies of a prospectus meeting the requirements of the Securities Act of 1933, as amended, relating
to the Warrant Debt Securities deliverable upon exercise of the Warrants (the “Prospectus”), and the
Warrant Agent agrees that upon the exercise of any Warrant, the Warrant Agent will deliver to the holder of the Warrant Certificate
evidencing such Warrant, prior to or concurrently with the delivery of the Warrant Debt Securities issued upon such exercise, the
Prospectus. The Warrant Agent shall not, by reason of any such delivery, assume any responsibility for the accuracy or adequacy
of such Prospectus.

 

    10

     

    

 

6.6 Obtaining of Governmental Approvals. The Company
will from time to time take all action which may be necessary to obtain and keep effective any and all permits, consents and approvals
of governmental agencies and authorities and securities act filings under United States Federal and state laws (including without
limitation a registration statement in respect of the Warrants and Warrant Debt Securities under the Securities Act of 1933, as
amended), which may be or become requisite in connection with the issuance, sale, transfer, and delivery of the Warrant Debt Securities
issued upon exercise of the Warrants, the issuance, sale, transfer and delivery of the Warrants or upon the expiration of the period
during which the Warrants are exercisable.

 

6.7 Persons Having Rights Under Warrant Agreement. Nothing
in this Agreement shall give to any person other than the Company, the Warrant Agent and the holders of the Warrant Certificates
any right, remedy or claim under or by reason of this Agreement.

 

6.8 Headings. The descriptive headings of the several
Articles and Sections of this Agreement are inserted for convenience only and shall not control or affect the meaning or construction
of any of the provisions hereof.

 

6.9 Counterparts. This Agreement may be executed in any
number of counterparts, each of which as so executed shall be deemed to be an original, but such counterparts shall together constitute
one and the same instrument.

 

6.10 Inspection of Agreement. A copy of this Agreement
shall be available at all reasonable times at the principal corporate trust office of the Warrant Agent for inspection by the holder
of any Warrant Certificate. The Warrant Agent may require such holder to submit his Warrant Certificate for inspection by it.

 

    11

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be duly executed, all as of the day and year first above written.

 

	ELOXX PHARMACEUTICALS, INC.
	 	 
	By:	                                  
	Name: 	 
	Title:	 

 

	[WARRANT AGENT], as Warrant Agent
	 
	By:	                           
	Name: 	 
	Title:	 

 

[SIGNATURE PAGE TO DEBT SECURITIES WARRANT
AGREEMENT]

 

    12

     

    

 

EXHIBIT A 

 

FORM OF WARRANT CERTIFICATE 

[FACE OF WARRANT CERTIFICATE] 

 

	[[Form if Warrants are attached to Other Securities and are not immediately detachable.]	 	[Prior to , this Warrant Certificate cannot be transferred or exchanged unless attached to a [Title of Other Securities].]
	 	 
	[Form of Legend if Warrants are not immediately exercisable.]	 	[Prior to , Warrants evidenced by this Warrant Certificate cannot be exercised.]

 

EXERCISABLE ONLY IF COUNTERSIGNED BY THE
WARRANT AGENT AS PROVIDED HEREIN

VOID AFTER [    ]
P.M., [    ] TIME, ON .

 

    13

     

    

 

ELOXX PHARMACEUTICALS, INC. 

WARRANT CERTIFICATE REPRESENTING 

WARRANTS TO PURCHASE 

[TITLE OF WARRANT DEBT SECURITIES] 

 

No. Warrants

 

This certifies that or registered assigns is the registered
owner of the above indicated number of Warrants, each Warrant entitling such owner [If Warrants are attached to Other Securities
and are not immediately detachable —, subject to the registered owner qualifying as a “Holder” of this Warrant
Certificate, as hereinafter defined)] to purchase, at any time [after [ ] p.m., [City] time, on and] on or before [ ] p.m., [City]
time, on , $ principal amount of [Title of Warrant Debt Securities] (the “Warrant Debt Securities”),
of Eloxx Pharmaceuticals, Inc. (the “Company”), issued or to be issued under the Indenture (as hereinafter
defined), on the following basis: during the period from , through and including , each Warrant shall entitle the Holder thereof,
subject to the provisions of this Agreement, to purchase the principal amount of Warrant Debt Securities stated in the Warrant
Certificate at the warrant price (the “Warrant Price”) of % of the principal amount thereof [plus accrued
amortization, if any, of the original issue discount of the Warrant Debt Securities] [plus accrued interest, if any, from the most
recent date from which interest shall have been paid on the Warrant Debt Securities or, if no interest shall have been paid on
the Warrant Debt Securities, from the date of their original issuance]. [The original issue discount ($ for each $1,000 principal
amount of Warrant Debt Securities) will be amortized at a % annual rate, computed on a[n] [semi-]annual basis [using a 360-day
year consisting of twelve 30-day months]. The Holder may exercise the Warrants evidenced hereby by providing certain information
set forth on the back hereof and by paying in full, in lawful money of the United States of America, [in cash or by certified check
or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], the Warrant Price
for each Warrant Debt Security with respect to which this Warrant is exercised to the Warrant Agent (as hereinafter defined) and
by surrendering this Warrant Certificate, with the purchase form on the back hereof duly executed, at the corporate trust office
of [name of Warrant Agent], or its successor as warrant agent (the “Warrant Agent”), which is, on the
date hereof, at the address specified on the reverse hereof, and upon compliance with and subject to the conditions set forth herein
and in the Warrant Agreement (as hereinafter defined).

 

The term “Holder” as used herein shall mean [If
Warrants are attached to Other Securities and are not immediately detachable —, prior to , (the “Detachable Date”),
the registered owner of the Company’s [title of Other Securities] to which this Warrant Certificate was initially attached,
and after such Detachable Date,] the person in whose name at the time this Warrant Certificate shall be registered upon the books
to be maintained by the Warrant Agent for that purpose pursuant to Section 4 of the Warrant Agreement.

 

The Warrants evidenced by this Warrant Certificate may be exercised
to purchase Warrant Debt Securities in the principal amount of $1,000 or any integral multiple thereof in registered form. Upon
any exercise of fewer than all of the Warrants evidenced by this Warrant Certificate, there shall be issued to the Holder hereof
a new Warrant Certificate evidencing Warrants for the aggregate principal amount of Warrant Debt Securities remaining unexercised.

 

    14

     

    

 

This Warrant Certificate is issued under and in accordance with
the Warrant Agreement dated as of , (the “Warrant Agreement”), between the Company and the Warrant Agent
and is subject to the terms and provisions contained in the Warrant Agreement, to all of which terms and provisions the Holder
of this Warrant Certificate consents by acceptance hereof. Copies of the Warrant Agreement are on file at the above-mentioned office
of the Warrant Agent.

 

The Warrant Debt Securities to be issued and delivered upon
the exercise of Warrants evidenced by this Warrant Certificate will be issued under and in accordance with an Indenture, dated
as of , (the “Indenture”), between the Company and , as trustee (such trustee, and any successors to
such trustee, the “Trustee”)] and will be subject to the terms and provisions contained in the Warrant
Debt Securities and in the Indenture. Copies of the Indenture, including the form of the Warrant Debt Securities, are on file at
the corporate trust office of the Trustee.

 

[If Warrants are attached to Other Securities and are not immediately
detachable — Prior to the Detachable Date, this Warrant Certificate may be exchanged or transferred only together with the
[Title of Other Securities] (the “Other Securities”) to which this Warrant Certificate was initially
attached, and only for the purpose of effecting or in conjunction with, an exchange or transfer of such Other Security. Additionally,
on or prior to the Detachable Date, each transfer of such Other Security on the register of the Other Securities shall operate
also to transfer this Warrant Certificate. After such date, transfer of this] [If Warrants are attached to Other Securities and
are immediately detachable-Transfer of this] Warrant Certificate may be registered when this Warrant Certificate is surrendered
at the corporate trust office of the Warrant Agent by the registered owner or such owner’s assigns, in the manner and subject
to the limitations provided in the Warrant Agreement.

 

[If Other Securities with Warrants which are not immediately
detachable — Except as provided in the immediately preceding paragraph, after] [If Other Securities with Warrants which are
immediately detachable or Warrants alone — After] countersignature by the Warrant Agent and prior to the expiration of this
Warrant Certificate, this Warrant Certificate may be exchanged at the corporate trust office of the Warrant Agent for Warrant Certificates
representing Warrants for the same aggregate principal amount of Warrant Debt Securities.

 

This Warrant Certificate shall not entitle the Holder hereof
to any of the rights of a holder of the Warrant Debt Securities, including, without limitation, the right to receive payments of
principal of (and premium, if any) or interest, if any, on the Warrant Debt Securities or to enforce any of the covenants of the
Indenture.

 

Reference is hereby made to the further provisions of this Warrant
Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth
at this place.

 

This Warrant Certificate shall not be valid or obligatory for
any purpose until countersigned by the Warrant Agent.

 

    15

     

    

 

IN WITNESS WHEREOF, the Company has caused this Warrant
to be executed in its name and on its behalf by the facsimile signatures of its duly authorized officers.

 

Dated: 

 

	ELOXX PHARMACEUTICALS, INC.
	 	 
	By:	                                  
	Name: 	 
	Title:	 

 

	[WARRANT AGENT], as Warrant Agent
	 
	By:	                           
	Name: 	 
	Title:	 

 

    16

     

    

 

[REVERSE OF WARRANT CERTIFICATE] 

 

(Instructions for Exercise of Warrant)

 

To exercise any Warrants evidenced hereby for Warrant Debt Securities
(as hereinafter defined), the Holder must pay, in lawful money of the United States of America, [in cash or by certified check
or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], the Warrant Price
in full for Warrants exercised, to [Warrant Agent] [address of Warrant Agent], Attn: , which payment must specify the name of the
Holder and the number of Warrants exercised by such Holder. In addition, the Holder must complete the information required below
and present this Warrant Certificate in person or by mail (certified or registered mail is recommended) to the Warrant Agent at
the appropriate address set forth above. This Warrant Certificate, completed and duly executed, must be received by the Warrant
Agent within five business days of the payment.

 

(To be executed upon exercise of Warrants)

 

The undersigned hereby irrevocably elects to exercise Warrants,
represented by this Warrant Certificate, to purchase $ principal amount of the [Title of Warrant Debt Securities] (the “Warrant
Debt Securities”) of Eloxx Pharmaceuticals, Inc. and represents that he has tendered payment for such Warrant Debt
Securities, in lawful money of the United States of America, [in cash or by certified check or official bank check in New York
Clearing House funds] [by bank wire transfer in immediately available funds], to the order of Eloxx Pharmaceuticals, Inc., c/o
[insert name and address of Warrant Agent], in the amount of $ in accordance with the terms hereof. The undersigned requests that
said principal amount of Warrant Debt Securities be in fully registered form in the authorized denominations, registered in such
names and delivered all as specified in accordance with the instructions set forth below.

 

If the number of Warrants exercised is less than all the Warrants
evidenced hereby, the undersigned requests that a new Warrant Certificate evidencing the Warrants for the aggregate principal amount
of Warrant Debt Securities remaining unexercised be issued and delivered to the undersigned unless otherwise specified in the instructions
below.

 

Dated

Name

 

Please Print:

 

Address:

 

(Insert Social Security or Other Identifying Number of Holder)

 

Signature Guaranteed

Signature

 

    17

     

    

 

(Signature must conform in all respects to name of holder as
specified on the face of this Warrant Certificate and must bear a signature guarantee by a FINRA member firm).

 

This Warrant may be exercised at the following addresses:

 

By hand at

 

By mail at

 

[Instructions as to form and delivery of Warrant Debt Securities
and, if applicable, Warrant Certificates evidencing Warrants for the number of Warrant Debt Securities remaining unexercised —
complete as appropriate.]

 

    18

     

    

 

ASSIGNMENT 

[Form of assignment to be executed if Warrant
Holder desires to transfer Warrant]

 

	FOR VALUE RECEIVED, hereby sells, assigns and transfers unto:
	 
	 
	 
	 

 

	 	 	 	 	 
	(Please print name and address including zip code)	 	 	 	Please print Social Security or other identifying number

 

the right represented by the within Warrant to purchase $ aggregate
principal amount of [Title of Warrant Debt Securities] of Eloxx Pharmaceuticals, Inc. to which the within Warrant relates and appoints
attorney to transfer such right on the books of the Warrant Agent with full power of substitution in the premises.

 

Dated

 

Signature

 

(Signature must conform in all respects to name of holder as
specified on the face of the Warrant)

 

Signature Guaranteed

 

    19Exhibit

Exhibit 10.1

EXECUTIVE EMPLOYMENT AGREEMENT
THIS EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is made on this  _________ (the “Effective Date”), by and between CORE MOLDING TECHNOLOGIES, INC., a Delaware corporation (the “Company”), and (“Executive”).
WHEREAS, Executive is currently employed by the Company, serving as _________ since his hire date on _________;
WHEREAS, except as set forth in Section 5(c) hereof, this Agreement shall replace and supersede that certain Executive Severance Agreement dated _________ by and between the Company and Executive (the “Executive Severance Agreement”); and 
WHEREAS, Executive and the Company wish to enter into this Agreement to reflect the terms and conditions of Executive’s employment with the Company from and after the Effective Date.
NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Definitions.  Capitalized terms not otherwise defined herein shall have the meanings set forth on Exhibit A attached hereto.

2.Employment.  For the purposes of this Agreement, the term “Employment Period” shall mean the period commencing as of the Effective Date and ending in accordance with Section 5 (the “Employment Period”).  The Company shall continue to employ Executive, and Executive hereby accepts continued employment with the Company, upon the terms and conditions set forth in this Agreement for the Employment Period. 

3.Duties.  Executive shall have the normal duties, responsibilities, functions, and authority of the _________, subject to the power and authority of the Board of Directors of the Company (the “Board”), and Executive shall report to the Chief Executive Officer (the “CEO”).  Executive shall render to the Company administrative, financial, and other executive and managerial services that are consistent with Executive’s position as  _________  of the Company, as the CEO and/or the Board may from time to time direct. Executive shall devote Executive’s full business time and attention (except for vacation periods consistent with the terms of this Agreement and reasonable periods of illness or other incapacity) to the business and affairs of the Company, its Affiliates, and its Subsidiaries.  In performing Executive’s duties and exercising Executive’s authority under this Agreement, Executive shall support and implement the business and strategic plans as directed from time to time by the CEO and shall support and cooperate with the Company’s effort to expand the business and operate in conformity with the business and strategic plans.  So long as Executive is employed by the Company, Executive shall not, without prior notification and approval of the CEO or the Board, who may approve under such procedures as the Board shall from time to time approve, serve on the board of directors of any other company for compensation or remuneration, and Executive shall not undertake, engage in or perform other activities or services for Executive’s personal benefit or for the benefit of any Person other than the Company and its Subsidiaries and Affiliates if such other activities or services interfere with the performance of Executive’s duties under this Agreement.  Subject to the foregoing provision, nothing in this Agreement shall be construed as preventing Executive from engaging in volunteer services for charitable, educational or civic organizations, serving on the board of directors of other companies without compensation or remuneration, or investing Executive’s personal assets in such a manner as Executive deems to be appropriate; provided, however, no such other activity shall conflict with Executive’s obligations under this Agreement or interfere with Executive’s performance of Executive’s duties under this Agreement. 

4.Compensation and Benefits.  In exchange for services rendered by Executive hereunder, the Company shall provide the following:

		
	a.
	Base Salary and Benefits.  During the Employment Period, Executive’s base salary shall be $_________ per annum, or such higher amount as determined by the Board in its discretion, as adjusted from time to time (the “Base Salary”), which salary shall be payable by the Company in regular installments in accordance with the Company’s general payroll practices (in effect from time to time). In addition, during the Employment Period, Executive shall be entitled to participate in all of the Company’s retirement, health, and welfare employee benefit programs for which senior management employees of the Company are generally eligible to participate (assuming Executive and/or Executive’s dependents meet the eligibility requirements of those benefit programs) as may be changed from time to time by the Company or the relevant insurer or administrator.  

		
	b.
	Business Expenses.  Subject to Section 21(d), during the Employment Period, the Company shall reimburse Executive for all reasonable business expenses incurred by Executive in the course of performing Executive’s duties and responsibilities under this Agreement, which business expenses are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses.

		
	c.
	Incentive Compensation.  In addition to the Base Salary, Executive shall be eligible for: (i) an annual bonus (the “Annual Bonus”) pursuant to the annual profit-sharing plan established by the Board (the “Bonus Plan”); and (ii) in the discretion of the Compensation Committee of the Board, annual long-term incentive target awards under the Core Molding Technologies, Inc. 2006 Long-Term Equity Incentive Plan, as amended and restated (“LTIP”) with such LTIP awards vesting one-third (1/3) on each anniversary of the applicable grant date and subject to such other terms and conditions set forth in the LTIP and applicable award agreement.  Except with respect to Executive’s eligibility to participate in the Bonus Plan and the LTIP as provided in this Section 4(c), Executive’s eligibility to participate and Executive’s rights, benefits, and obligations under such Bonus Plan and LTIP shall be determined in accordance with those plans and by the Compensation Committee of the Board.  The Company reserves the right and sole and absolute discretion to alter, amend, or terminate the Bonus Plan, LTIP, and any other incentive plans at any time.

		
	d.
	Vacation.  During the Employment Period, Executive shall be entitled to 4 weeks of paid vacation per calendar year (as prorated for partial years) in accordance with the Company’s policies on accrual and use applicable to employees as in effect from time to time.  Vacation hours will accrue at a rate of one week per quarter.  Vacation may be taken at such times and intervals as Executive determines, subject to the business needs of the Company, after consultation with the CEO. 

5.Term; Termination of Employment Period.

		
	a.
	The Employment Period shall be perpetual, until terminated as a result of: (i) Executive’s resignation, which resignation must be accompanied by at least thirty (30) days’ prior written notice (except in the case of resignation by Executive for “Good Reason” as defined below); (ii) termination by the Company due to Executive’s Disability (as defined below); (iii) the Company’s termination of Executive’s employment (whether with Cause (as defined below) or without Cause); or (iv) Executive’s death. In the event of the termination of Executive’s employment by Executive or by the Company for any reason and regardless of the circumstance, Executive shall be deemed to have resigned from any and all positions as an officer and/or director of the Company and/or its Subsidiaries and Affiliates immediately upon such termination, and shall promptly execute all documents reasonably requested by the Company in order to effect such resignation.  

		
	b.
	Termination by Company without Cause.  Subject to Section 21, if Executive’s employment hereunder and the Employment Period are terminated by the Company without Cause, Executive shall be entitled to payment of: 

(i)Executive’s accrued but unpaid Base Salary through the date of termination;

(ii)any accrued, unused vacation pay at the rate of Executive’s then Base Salary and any properly documented reimbursable expenses owed to Executive; 

(iii)any amount arising from Executive’s participation in, or benefits under any employee benefit plans, programs, or arrangements, which amounts shall be payable in accordance with the terms and conditions of such employee benefit plans, programs, or arrangements, including without limitation any amount earned under any Bonus Plan or LTIP but not paid prior to the termination (clauses (i), (ii) and (iii) of this Section 5(b), collectively, the “Accrued Obligations”); 

(iv)continuation of Executive’s then-current Base Salary for twelve (12) consecutive months, with the time of payment of such installments, as applicable, commencing as provided below; and

(v)if such termination occurs before the completion of an applicable  measuring period, Executive will receive the full target incentive award amount of the Bonus Plan and LTIP incentive compensation Executive would have received had Executive continued to be employed through the end of such periods, payable at the same time and in the same form of payment that all Bonus Plan and LTIP awards are payable to Bonus Plan and LTIP participants pursuant to the terms specified in the Bonus Plan and LTIP and any applicable award agreements. 

The amounts described in clause (iv) of this Section 5(b) will commence to be paid to Executive within sixty (60) days following the date of termination, provided that Executive (or, in the event of Executive’s death, Executive’s estate) has executed and delivered to the Company not later than forty-five (45) days following the date of termination an irrevocable general waiver and release of claims in the form provided by the Company to Executive (or, in the event of Executive’s death, Executive’s estate) after Executive’s termination (the “General Release”) and the latest date on which the General Release is subject to revocation has expired.  The Accrued Obligations shall be paid no later than as required by law or within thirty (30) days following the date of termination, whichever occurs earlier.  As to any amount described in clause (iv) of this Section 5(b) that constitutes “nonqualified deferred compensation” within the meaning of Code Section 409A and the regulations and guidance promulgated thereunder (collectively, “Section 409A”), if the sixty (60) day period begins in one calendar year and ends in a second (2nd) calendar year, payment shall always be paid in the second (2nd) calendar year.  Once they begin within such sixty (60) day period following termination, the amounts payable pursuant to clause (iv) of this Section 5(b) shall be payable in substantially equal consecutive installments over the twelve (12) month period following the date of termination (the “Severance Period”) in accordance with the Company’s general payroll practices as in effect on the date of termination, but in no event less frequently than monthly (with the first such payment being in an amount equal to the total amount to which Executive would otherwise have been entitled during the period following the date of termination through such payment commencement date).  The amount(s) payable pursuant to clause (v) of this Section 5(b) shall be paid provided the General Release has become effective under its terms on the date of such payment(s).  All payments of amounts described in clauses (iv) and (v) of this Section 5(b) are subject to Executive’s (or in the event of Executive’s death, Executive’s estate’s) continued compliance with the provisions of Sections 6, 7, 8, 23 and 25 hereof.
		
	c.
	Termination by Executive for Good Reason. If Executive’s employment hereunder and the Employment Period is terminated by the Executive for Good Reason (as defined in this Agreement), Executive shall be entitled to payment of all amounts due pursuant to Section 10(a)(i) and (ii) of the Executive Severance Agreement, subject to Executive executing and not revoking a General Release. Within sixty (60) days following the date of termination under this Section 5(c), (i) the base salary payment set forth in Section 10(a)(i) of the Executive Severance Agreement and the lump sum payment set forth in Section 10(a)(ii) of the Executive Severance Agreement will commence to be paid to Executive and (ii) the accelerated vesting set forth in Section 10(b) of the Executive Severance Agreement shall occur; provided, however, that Executive (or, in the event of Executive’s death, Executive’s estate) shall have executed and delivered to the Company not later than forty-five (45) days following the date of termination, an irrevocable General Release.  Notwithstanding the application of the Executive Severance Agreement in the event of a termination by Executive for Good Reason (as defined in this Agreement), all obligations of Executive pursuant to this Agreement shall continue in full force and effect. All payments of amounts described in this Section 5(c) are subject to Executive’s (or in the 

event of Executive’s death, Executive’s estate’s) continued compliance with the provisions of Sections 6, 7, 8, 23 and 25 hereof. 

		
	d.
	Termination for Cause, for Death, or Disability, or Executive’s Voluntary Termination Without Good Reason.  If Executive’s employment hereunder and the Employment Period is terminated by the Company for Cause; or upon Executive’s death or by the Company due to Executive’s Disability; or voluntarily by Executive without Good Reason, Executive shall be entitled to receive the Accrued Obligations.

		
	e.
	Limitation on Payments Hereunder.  Except as otherwise expressly provided herein, Executive shall not be entitled to any other salary, bonuses, employee benefits, or compensation from the Company, its Affiliates, or Subsidiaries after the termination of the Employment Period, and all of Executive’s rights to salary, bonuses, employee benefits, and other compensation hereunder which would have accrued or become payable after the termination of the Employment Period (other than vested retirement benefits accrued on or prior to the termination of the Employment Period or other amounts owing hereunder as of the date of such termination that have not yet been paid) shall cease upon such termination, other than those expressly required under applicable law (including the those under Title I, Part VI, of the Employee Retirement Income Security Act of 1974, as amended, and Section 4980B of the Code (“COBRA”)).

		
	f.
	Mitigation.  Executive is under no obligation to mitigate damages or the amount of any payment provided for hereunder by seeking other employment or otherwise, and the Company shall have no right of offset for any amounts received by Executive from other employment.

		
	g.
	Offsets.  The Company may offset any amounts Executive owes to Company or any of its Affiliates or Subsidiaries against any amounts the Company owes Executive hereunder, to the extent permitted by Section 409A.

6.Confidential Information.

(a)Confidential Information.  Executive acknowledges that the continued success of the Company and its Subsidiaries and Affiliates depends upon the use and protection of a large body of confidential and proprietary information.  All of such confidential and proprietary information now existing or to be developed in the future will be referred to in this Agreement as “Confidential Information.”  Confidential Information will be interpreted as broadly as possible to include all information of any sort (whether merely remembered or embodied in a tangible or intangible form) that is (i) related to the Company’s or its Subsidiaries’ or Affiliates’ current or potential business and (ii) is not generally or publicly known.  Confidential Information includes, without specific limitation, the information, observations, and data obtained by Executive from the performance of Executive’s duties to the Company and Subsidiaries and its Affiliates (including services performed prior to the date of this Agreement) concerning the business and affairs of the Company and its Subsidiaries and Affiliates; information concerning acquisition opportunities in or reasonably related to the Company’s or its Subsidiaries’ or Affiliates’ business or industry of which Executive becomes aware prior to or during the Employment Period; the Persons or entities that are current, former or prospective members, suppliers, or customers of any one or more of them, as well as development, transition and transformation plans, methodologies and methods of doing business, strategic, marketing and expansion plans, including plans regarding planned and potential sales, financial and business plans, employee lists and telephone numbers, locations of sales representatives, new and existing programs and services, prices and terms, customer service, integration processes, requirements and costs of providing service, support, and equipment.  Accordingly, Executive agrees that, either during or after the Employment Period, Executive shall not disclose to any unauthorized Person or use for Executive’s or any Person’s own account any Confidential Information without the CEO’s prior written consent, unless and to the extent that any Confidential Information (i) becomes generally known to and available for use by the public other than as a result of Executive’s acts or omissions to act or (ii) is required to be disclosed pursuant to any applicable law or court order (in which case Executive shall give prior written notice to the Company of such required disclosure and shall cooperate with the Company and its Subsidiaries and Affiliates in any reasonable efforts to limit such disclosure or preserve the confidentiality of any Confidential Information).  Executive agrees to deliver to the Company at the end of the Employment Period, or at any other time the Company may request in writing, all memoranda, notes, plans, 

records, reports, and other property or documents (and copies thereof) relating to the business of the Company or its Subsidiaries or Affiliates (including, without limitation, all Confidential Information) that Executive may then possess or have under Executive’s control.

(b)Non-Use and Non-Disclosure.  During or after the Employment Period, Executive shall not use or disclose any confidential information or trade secrets, if any, of any former employers or any other Person to whom Executive has an obligation of confidentiality, and shall not bring onto the premises of the Company or its Subsidiaries or Affiliates any unpublished documents or any property belonging to any former employer or any other Person to whom Executive has an obligation of confidentiality unless consented to in writing by the former employer or Person.  Executive shall use in the performance of Executive’s duties only information that is (i) generally known and used by Persons with training and experience comparable to Executive’s and that is (A) common knowledge in the industry or (B) is otherwise legally in the public domain, (ii) otherwise provided or developed by the Company or its Subsidiaries or Affiliates or (iii) in the case of materials, property, or information belonging to any former employer or other Person to whom Executive has an obligation of confidentiality, approved for such use in writing by such former employer or Person.  If at any time during the Employment Period, Executive believes Executive is being asked to engage in work that will, or will be likely to, jeopardize any confidentiality or other obligations Executive may have to former employers, Executive shall immediately advise the CEO so that Executive’s duties can be modified appropriately.  

(c)Trade Secrets.  The federal Defend Trade Secrets Act of 2016 immunizes employees against criminal and civil liability under federal or state trade secret laws - under certain circumstances - if Executive discloses a trade secret for the purpose of reporting a suspected violation of law.  Immunity is available if Executive discloses a trade secret in either of these two circumstances: (i) Executive discloses the trade secret (A) in confidence, (B) directly or indirectly to a government official (federal, state or local) or to a lawyer, (C) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) in a legal proceeding, Executive discloses the trade secret in the complaint or other documents filed in the case, so long as the document is filed “under seal” (meaning that it is not accessible to the public). Further, nothing in this Agreement prohibits Executive from reporting possible violations of federal law or regulation to any governmental agency or entity, including but not limited to the Department of Justice, the Securities and Exchange Commission, Congress, and any federal Inspector General, or from making other disclosures that are protected under the whistleblower provisions of federal law or regulation.  Executive does not need prior authorization to make any such reports or disclosures and is not required to notify the Company or the CEO that he has made such reports or disclosures.

(d)Executive’s Representations Regarding Prior Employers.  Executive represents and warrants to the Company and its Subsidiaries and Affiliates that Executive took nothing with Executive which belonged to any former employer when Executive left Executive’s position(s) with such employer(s) and that Executive has nothing that contains any information which belongs to any former employer.  If at any time Executive discovers that this representation and warranty is incorrect, Executive shall promptly return any such materials to Executive’s former employer(s).  The Company and its Subsidiaries and Affiliates do not want any such materials, and Executive shall not be permitted to use or refer to any such materials in the performance of Executive’s duties hereunder.  

(e)Third Party Information.  Executive understands that the Company and its Subsidiaries and Affiliates will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s and its Subsidiaries’ and Affiliates’ part to maintain the confidentiality of such information and to use it only for certain limited purposes.  During the Employment Period and thereafter, and without in any way limiting the provisions of Section 6(a) above, Executive shall hold Third Party Information in the strictest confidence and will not disclose to anyone (other than personnel of the Company or its Subsidiaries and Affiliates who need to know such information in connection with their work for the Company or such Subsidiaries and Affiliates) or use, except in connection with Executive’s work for the Company or its Subsidiaries and Affiliates, Third Party Information unless expressly authorized by the CEO or the Board in writing.

(f)Return of Property.  Upon termination of the Employment Period, or at any time upon demand of the CEO, Executive will be required to return all property of the Company or its Subsidiaries or Affiliates in his 

possession or control, including, but not limited to all hard copy or electronic documents and/or data, computer hardware (laptop, docking station, storage media, air cards, building access cards/fobs, cell phones, tablets, external hard drives, company issued keys, credit cards, USB flash drives, etc.), Company-owned software, and Confidential Information.  If requested by the CEO, Executive will be required to represent and certify that he has not retained or transferred any company data or information outside of the Company.

7.Intellectual Property, Inventions, and Patents.  Executive acknowledges that all discoveries, concepts, ideas, inventions, innovations, improvements, developments, methods, designs, analyses, drawings, reports, patent applications, copyrightable work, and mask work (whether or not including any Confidential Information) and all registrations or applications related thereto, all other proprietary information and all similar or related information (whether or not patentable) which relate to the Company’s or any of its Subsidiaries’ and Affiliates’ actual or anticipated business, research, and development or existing or future products or services and which are conceived, developed, or made by Executive (whether alone or jointly with others) while employed by the Company and its Subsidiaries, whether before or after the date of this Agreement (“Work Product”), belong to the Company or such Subsidiary or Affiliate.  Executive shall promptly disclose such Work Product to the CEO and, at the Company’s expense, perform all actions reasonably requested by the CEO (whether during or after the Employment Period) to establish and confirm such ownership (including, without limitation, assignments, consents, powers of attorney, and other instruments).  Notwithstanding the foregoing, copyrightable books authored by Executive and recordings of and materials prepared in connection with speeches or  presentations relating to leadership and unrelated to the Company and not written in connection with Executive’s duties as _________ are not Work Product and shall remain Executive’s sole property. 

8.Non-Compete; Non-Solicitation.

		
	a.
	Non-Competition.  In further consideration of the compensation to be paid to Executive hereunder, Executive acknowledges that during the course of his employment with the Company and its Subsidiaries and Affiliates he has and shall become familiar with the Company’s and its Subsidiaries’ and Affiliates’ corporate strategy, pricing, and other market and financial information, know-how, trade secrets, and valuable customer, supplier, and employee relationships, and with other Confidential Information concerning the Company and its Subsidiaries and Affiliates, and that his services have been and shall be of special, unique, and extraordinary value to the Company and its Subsidiaries and Affiliates.  Accordingly, during the Employment Period and for eighteen (18) months thereafter, Executive shall not directly or indirectly (whether as employee, director, owner, stockholder, consultant, partner (limited or general), or otherwise) own any interest in, manage, control, participate in, consult with, advertise on behalf of, render services for or in any manner engage in any Competing Business (as defined below) that conducts operations or sales in countries the Company or its Subsidiaries or Affiliates conduct sales or operations, including but not limited to the United States of America, Canada and Mexico, or have taken active steps towards conducting sales or operations as of the date of Executive’s termination of employment.  Nothing herein shall prohibit Executive from being a passive owner of not more than two percent (2%) of the outstanding stock of any class of a corporation which is publicly traded, so long as Executive has no active participation in the business of such corporation.  For purpose of this Agreement, “Competing Business” shall mean any business or enterprise providing any products or services described by the Company, its Subsidiaries, or Affiliates on the Company’s website at any time during the Employment Period or the provision of any products or services contemplated by the Company, its Subsidiaries, or Affiliates at any time during the Employment Period as memorialized in any document maintained or created by the Company.

		
	b.
	Non-Solicitation.  During the Employment Period and for twenty-four (24) months thereafter (together with the period referenced in Section 8(a), the “Restriction Periods”), Executive shall not directly or indirectly through another Person (i) induce or attempt to induce any employee of the Company or any Subsidiary or Affiliate to leave the employ of the Company or such Subsidiary or Affiliate, or in any way interfere with the relationship between the Company or any Subsidiary or Affiliate and any employee thereof; (ii) knowingly hire any Person who was an employee of the Company or any Subsidiary or Affiliate at any time during the twelve (12) months prior to the termination of Executive’s employment; or (iii) induce or encourage any customer, supplier, licensee, licensor, or other business relation of the Company or any Subsidiary or Affiliate to cease doing business with or 

materially reduce its business with the Company or such Subsidiary or Affiliate, or in any way interfere with the relationship between any such customer, supplier, licensee, licensor, or business relation and the Company or any Subsidiary or Affiliate (including, without limitation, making any negative or disparaging statements or communications regarding the Company or its Subsidiaries or Affiliates).  

		
	c.
	Reformation.  If, at the time of enforcement of this Section 8, a court shall hold that the duration, scope, or area restrictions stated herein are unreasonable under circumstances then existing, the parties agree that the maximum duration, scope, or area reasonable under such circumstances shall be substituted for the stated duration, scope, or area and that the court shall be allowed to revise the restrictions contained herein to cover the maximum period, scope, and area permitted by law. 

		
	d.
	Executive’s Acknowledgements.  Executive acknowledges that Executive has carefully read this Agreement and has given careful consideration to the restraints imposed upon Executive by this Agreement, and is in full accord as to the necessity of such restraints for the reasonable and proper protection of the Confidential Information, business strategies, employee and customer relationships, and goodwill of the Company and its Subsidiaries and Affiliates now existing or to be developed in the future.  Executive expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable with respect to subject matter, time period, and geographical area.  Executive further acknowledges that although Executive’s compliance with the covenants contained in Sections 6, 7, or 8 may prevent Executive from earning a livelihood in a business similar to the business of the Company, Executive’s experience and capabilities are such that Executive has other opportunities to earn a livelihood and adequate means of support for Executive and Executive’s dependents.

9.Enforcement.  Because Executive’s services are unique and because Executive has access to Confidential Information and Work Product, the parties agree that the Company and its Subsidiaries and Affiliates will suffer irreparable harm from a breach or threatened breach of Sections 6, 7, 8, 23 or 25 by Executive and that money damages would not be an adequate remedy for any such breach or threatened breach of this Agreement.  In the event of any breach or threatened breach of this Agreement, the Company and its Subsidiaries and Affiliates, in addition to other rights and remedies existing in their favor, shall be entitled to specific performance and/or injunctive or other equitable relief from a court of competent jurisdiction in order to enforce, or prevent any violations of, the provisions hereof (without posting a bond or other security).  In addition, in the event of an alleged breach of violation by Executive of Section 8, the Restriction Periods shall be extended automatically by the amount of time between the initial occurrence of the breach or violation and when such breach or violation has been duly cured.  

10.Executive’s Representations.  Executive hereby represents and warrants to the Company that (a) the execution, delivery, and performance of this Agreement by Executive do not and shall not conflict with, breach, violate, or cause a default under any contract, agreement, instrument, order, judgment, or decree to which Executive is a party or by which Executive is bound; (b) Executive is not a party to or bound by any employment agreement, noncompete agreement, or confidentiality agreement with any other Person that would prohibit Executive’s employment with the Company or restrict Executive’s ability to fully perform Executive’s duties for the Company; (c) upon the execution and delivery of this Agreement by the Company, this Agreement shall be the valid and binding obligation of Executive, enforceable in accordance with its terms; and (d) Executive is not subject to any pending, or to his knowledge any threatened, lawsuit, action, investigation, or proceeding involving Executive’s prior employment or consulting work or the use of any information or techniques of any former employer or contracting party.  Executive hereby acknowledges and represents that he has consulted with independent legal counsel regarding Executive’s rights and obligations under this Agreement and that Executive fully understands the terms and conditions contained herein.

11.Survival.  Sections 5 through 25 shall survive and continue in full force in accordance with their terms notwithstanding the termination of the Employment Period.

12.Notices.  Any notice provided for in this Agreement shall be in writing and shall be either personally delivered, sent by reputable overnight courier service, or mailed by first class mail, return receipt requested, to the recipient at the address below indicated:

Notices to Executive:
Executive
___________________
___________________
___________________

Notices to the Company:
Core Molding Technologies, Inc.
800 Manor Park Dr.
Columbus, OH 43228
Attn: Chief Executive Officer

with a copy to:

Squire Patton Boggs (US) LLP
2000 Huntington Center
41 South High Street
Columbus, Ohio 43215
Attention:  Donald W. Hughes, Esq.

or such other address or to the attention of such other Person as the recipient party shall have specified by prior written notice to the sending party.  Any notice under this Agreement shall be deemed to have been given when so delivered, sent, or mailed.
13.Severability.  Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement or any action in any other jurisdiction, but this Agreement shall be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision had never been contained herein.

14.Complete Agreement.  This Agreement embodies the complete agreement and understanding among the parties and supersedes and preempts any prior understandings, agreements, or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way.  The Company and Executive agree that, except as set forth in Section 5(c) hereof, the Executive Severance Agreement is hereby terminated and is of no further force and effect.

15.No Strict Construction.  The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall be applied against any party.

16.Counterparts.  This Agreement may be executed in separate counterparts (including by means of pdf signature page), each of which is deemed to be an original, and all of which taken together constitute one and the same agreement.

17.Successors and Assigns.  This Agreement is intended to bind and inure to the benefit of and be enforceable by Executive, the Company, its Subsidiaries and Affiliates and their respective heirs, successors, and assigns, except that Executive may not assign Executive’s rights or delegate Executive’s duties or obligations hereunder without the prior written consent of the Company.  The Company may unilaterally assign its rights and obligations under this Agreement to any successor to Company’s rights and obligations hereunder as a result of any change in control, merger, consolidation, restructuring or reorganization or to any other successor to all or substantially all of 

the securities, business and/or assets of the Company or any of its affiliates, and Executive shall continue to be bound by the terms and conditions of this Agreement.

18.Choice of Law and Choice of Forum.  All issues and questions concerning the construction, validity, enforcement, and interpretation of this Agreement and the exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of Ohio, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Ohio or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Ohio.  Jurisdiction and venue of any dispute, action or proceeding relating to this Agreement, the employment of Executive, the termination of Executive’s employment, or the validity, interpretation, performance, breach or termination of the Agreement shall be exclusively in the state or federal court located in Franklin County, Ohio. 

19.Amendment and Waiver.  The provisions of this Agreement may be amended or waived only with the prior written consent of the Company (as approved by the Board) and Executive, and no course of conduct or course of dealing or failure or delay by any party hereto in enforcing or exercising any of the provisions of this Agreement (including, without limitation, the Company’s right to terminate the Employment Period with or without Cause) shall affect the validity, binding effect, or enforceability of this Agreement or be deemed to be an implied waiver of any provision of this Agreement.

20.Insurance.  The Company may, at its discretion, apply for and procure in its own name and for its own benefit life and/or disability insurance on Executive in any amount or amounts considered advisable.  Executive agrees to cooperate in any medical or other examination, supply any information, and execute and deliver any applications or other instruments in writing as may be reasonably necessary to obtain and constitute such insurance.

21.Tax Matters; Section 409A.  

		
	a.
	The Company and its respective Subsidiaries and Affiliates shall be entitled to report such income and deduct or withhold from any amounts owing from the Company or any of its Subsidiaries or Affiliates to Executive any federal, state, local, or foreign withholding taxes, excise tax, or employment taxes (“Taxes”) imposed with respect to Executive’s compensation or other payments and benefits from the Company or any of its Subsidiaries or Affiliates (including, without limitation, wages and bonuses).

		
	b.
	The intent of the parties is that payments and benefits under this Agreement comply with Section 409A; and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith.   

		
	c.
	Notwithstanding the foregoing, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.”  Notwithstanding anything to the contrary in this Agreement, if Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered “nonqualified deferred compensation” under Section 409A payable on account of a “separation from service,” such payment or benefit shall not be made or provided until the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date of such “separation from service” of Executive, and (B) the date of Executive’s death, to the extent required under Section 409A.  Upon the expiration of the foregoing delay period, all payments and benefits delayed pursuant to this Section 21(c) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed to Executive in a lump sum, without interest, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein.

		
	d.
	To the extent that reimbursements or other in-kind benefits under this Agreement constitute “nonqualified deferred compensation” for purposes of Section 409A, (A) all such expenses or other reimbursements hereunder shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by Executive; (B) any right to such reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit; and (C) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year.

		
	e.
	For purposes of Section 409A, Executive’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments.  Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Company, to the extent permitted under Section 409A.

		
	f.
	Notwithstanding any other provision of this Agreement to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Section 409A be subject to offset by any other amount unless otherwise permitted by Section 409A.  

		
	g.
	Notwithstanding any other provision of this Agreement to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Section 409A be accelerated or delayed in contravention of the regulations under Section 409A.

22.Waiver of Jury Trial.  As a specifically bargained for inducement for each of the parties hereto to enter into this Agreement (after having the opportunity to consult with counsel), each party hereto expressly waives the right to trial by jury in any lawsuit or proceeding relating to or arising in any way from this Agreement or the matters contemplated hereby.

23.Corporate Opportunity.   Executive shall submit to the CEO or the Board all material business, commercial, and investment opportunities or offers presented to Executive, or of which Executive becomes aware, at any time during the Employment Period, which opportunities relate to the Company’s business (“Corporate Opportunities”).  Unless approved by the CEO or the Board, during the Employment Period Executive shall not accept or pursue, directly or indirectly, any Corporate Opportunities on Executive’s own behalf or for Executive’s personal benefit or for the benefit of any Person other than the Company.  

24.Executive’s Cooperation.  During the Employment Period and thereafter, Executive shall reasonably cooperate with the Company and its Subsidiaries and Affiliates in any internal investigation or administrative, regulatory, or judicial proceeding as reasonably requested by the Company or any Subsidiary or Affiliate (including, without limitation, Executive’s being available to the Company and its Subsidiaries and Affiliates upon reasonable notice for interviews and factual investigations, appearing at the Company’s or any Subsidiary’s or Affiliate’s request to give truthful and accurate testimony without requiring service of a subpoena or other legal process, volunteering to the Company and its Subsidiaries and Affiliates all pertinent information and turning over to the Company and its Subsidiaries and Affiliates all relevant documents which are or may come into Executive’s possession, all at times and on schedules that are reasonably consistent with Executive’s other permitted activities and commitments).  In the event the Company or any Subsidiary or Affiliate requires Executive’s cooperation in accordance with this section, the Company shall pay Executive a per diem reasonably determined by the CEO or the Board and reimburse Executive for reasonable expenses incurred in connection therewith (including reasonable transportation, lodging and meals, upon submission of receipts).

25.Nondisparagement.  During the Employment Period and thereafter, Executive shall not make, publish, or solicit, or encourage others to make, publish, or solicit, any disparaging oral or written statements, comments, announcements, or remarks concerning the Company or its Subsidiaries or Affiliates, or any of their respective directors, officers, or employees.  Likewise, during the Employment Period and thereafter, the directors and officers of the Company shall not make, publish, or solicit, or encourage others to make, publish, or solicit, any disparaging oral or 

written statements, comments, announcements, or remarks concerning Executive.  The foregoing shall not be violated by truthful statements in response to legal process, required governmental testimony or filings, or administrative or arbitral proceedings (including, without limitation, depositions in connection with such proceedings).

* * *

IN WITNESS WHEREOF, the parties hereto have executed this Executive Employment Agreement effective as of the date first written above but signed on the date(s) indicated below.
COMPANY:

CORE MOLDING TECHNOLOGIES, INC.

By:       _________________________________
Name:                        
Title:                            

EXECUTIVE:

________________________________________
Date:                             

EXHIBIT A

Definitions

“Affiliate” means any employer with which the Company would be considered a single employer under Section 414(b) or 414(c) of the Code (as defined below), applied using fifty percent (50%) as the percentage of ownership required under such Code sections, including (i) any Person (as defined below), any other Person directly or indirectly controlling, controlled by or under direct or indirect common control with, such specified Person and (ii) any Person that is a natural Person, the spouse, ancestors, or lineal descendants of such Person, any limited partnership or limited liability company controlled by such Person or such Person’s spouse, ancestors, or lineal descendants or in which such Person or such Person’s spouse, ancestors, or lineal descendants hold a majority interest, any trust established for the benefit of any of them and such Person’s estate or legal representative.
“Cause” means, with respect to Executive, one or more of the following: (i) commission of, or indictment for, a felony, a misdemeanor where the potential penalty therefor includes jail-time or a crime involving moral turpitude; (ii) commission of an act or omission to act with respect to the Company or any of its Affiliates or Subsidiaries or any of their customers or suppliers involving dishonesty, disloyalty, or fraud; (iii) conduct that brings or is reasonably likely to bring the Company or its Affiliates or Subsidiaries negative publicity or into public disgrace, embarrassment or disrepute; (iv) repeated failure to perform duties as reasonably directed by the CEO or the Board; (v) gross negligence or willful misconduct with respect to the Company or any of its Affiliates or Subsidiaries; (vi) material breach of the Company’s Code of Conduct as amended from time to time (it being agreed that, among other things, violation of the Company’s policy on harassment, anti-bribery, anti-corruption and drug and alcohol-free workplace are all deemed material for purposes of this definition); or (vii) any breach by Executive of Section 6, 7, 8, 23 or 25 of this Agreement.  With respect to subsection (iv) herein, “Cause” shall only exist if Executive fails to cure the alleged infraction within ten (10) days of receiving written notice from the Company.
 “Change in Control” shall mean the occurrence of any of the following after the Effective Date: (a) one Person (or more than one Person acting as a group) acquires ownership of stock of the Company that, together with the stock held by such Person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of the Company; (b) a majority of the members of the Board are replaced during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the Board before the date of appointment or election; or (c) the sale of all or substantially all of the Company’s assets. Notwithstanding the foregoing, a Change in Control shall not occur unless such transaction constitutes a change in the ownership of the Company, a change in effective control of the Company, or a change in the ownership of a substantial portion of the Company’s assets under Section 409A.
 
“Code” means the Internal Revenue Code of 1986, as amended.
“Disability” means (i) Executive’s inability, by virtue of ill health or other physical or mental illness, to perform substantially and continuously the duties assigned to Executive with reasonable accommodation for more than 180 consecutive or non-consecutive days out of any consecutive 12-month period or (ii) if Executive is considered disabled under the Company’s long-term disability insurance plan.
“Good Reason” means, with respect to Executive’s resignation from employment, one or more of the following occurring within one (1) year of a Change of Control: (i) a material reduction in Executive’s Base Salary, compensation or benefits; (ii) a material diminution in Executive’s position and/or duties; (iii) a material breach of this Agreement by the Person or other entity then controlling the Company; or (iv) a disavowal of this Agreement by the Person or other entity then controlling the Company.  With respect to subsections (i), (ii) or (iii) herein, “Good Reason” shall only exist if the Company fails to cure the alleged infraction within ten (10) days of receiving written notice from Executive. 
“Person” means any natural person, corporation, partnership (whether general or limited), limited liability company, association, custodian, nominee, trust, estate, joint venture, governmental authority, or other individual or entity.

“Subsidiary” means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture, or other business entity of which more than fifty percent (50%) of the total voting power of shares of stock or other ownership interests entitled (without regard to the occurrence of any contingency) to vote in the election of the Person (or, in the case of a partnership, limited liability company, or other similar entity, control of the general partnership, managing member, or similar interests) or Persons (whether directors, managers, trustees, or other Persons performing similar functions) having the power to direct or cause the direction of the management and policies thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof.

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