Document:

glpw_Ex10_57

		
			Exhibit 10.57
		

		
			 
		

		
			EMPLOYMENT AGREEMENT
		

		
			 
		

		
			This EMPLOYMENT AGREEMENT (“Agreement”) is effective as of the 11th day of September, 2017 (the “Effective Date”), between Global Power Equipment Group Inc. (the “Company”) and Erin Gonzalez (“Executive”).  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.Employment.  The Company shall employ Executive, and Executive accepts employment with the Company, upon the terms and subject to the conditions set forth in this Agreement, for the period beginning on the Effective Date and ending on the Date of Termination (as defined in Section 4(e) of this Agreement) (the  “Term”).
		

		
			 
		

		
			2.Position and Duties; Location.
		

		
			 
		

		
			(a)Position and Duties.  During the Term, Executive shall be employed by the Company as Chief Financial Officer.  Executive shall report solely to the Co-Chief Executive Officers of the Company and shall have such duties, responsibilities and authorities as are customarily associated with her position (including, but not limited to, the general management of the affairs of the Company) and such additional duties and responsibilities consistent with her positions as may, from time to time, be properly and lawfully assigned to her.
		

		
			 
		

		
			(b)Engaging in Other Activities.  During the Term, Executive shall devote substantially all of her business time, energies and talents to serving as Chief Financial Officer of the Company, and shall perform her duties conscientiously and faithfully, subject to the reasonable and lawful directions of the Co-Chief Executive Officers and the Board of Directors of the Company (the “Board”) and in accordance with the policies, rules and decisions adopted from time to time by the Company and the Board.  During the Term, it shall not be a violation of this Agreement for Executive, subject to the requirements of Sections 7, 8 and 9 hereof, to (i) serve on civic or charitable boards, (ii) with the consent of the Board, which consent shall not be unreasonably withheld, serve on corporate boards unrelated to the Company (and retain all compensation in whatever form for such service), (iii) deliver lectures and fulfill speaking engagements, and (iv) manage personal investments, so long as such activities (individually or in the aggregate) do not significantly interfere with the performance of Executive’s responsibilities as set forth in Section 2(a) of this Agreement or Executive’s fiduciary duties to the Company.
		

		
			 
		

		
			(c)Location.  Executive shall perform her duties and responsibilities hereunder principally at the Company’s corporate headquarters, which currently is in Irving, Texas; provided that Executive may be required under reasonable business circumstances to travel outside of such location in connection with performing her duties under this Agreement.
		

		
			 
		

		
			(d)Affiliates.  Executive agrees to serve, without additional compensation, as an officer and director of each of the other members of the Company’s affiliates, as determined by the Board, provided that such service is covered by Section 3(g) of this Agreement.  As used in this Agreement, the term “affiliate” shall mean any entity controlled by, controlling, or under common control with, the Company.
		

		
			
		

		
			

		 

 

		

		
			 
		

		
			(e)Stock Ownership Guidelines.  Executive acknowledges and agrees to comply with the Company’s stock ownership guidelines for the Chief Financial Officer position, as the same may be amended from time to time.
		

		
			 
		

		
			(f)Compensation Recovery Policy.  Executive acknowledges that, notwithstanding any provision of this Agreement to the contrary, any incentive compensation or performance-based compensation paid or payable to Executive hereunder shall be subject to repayment or recoupment obligations arising under applicable law or the Company’s Compensation Recovery Policy, as the same may be amended from time to time.
		

		
			 
		

		
			3.Compensation and Benefits.
		

		
			 
		

		
			(a)Base Salary. During the Term, the Company shall pay Executive an annualized base salary (“Annual Base Salary”) at a rate of $275,000 U.S., effective retroactively to August 2, 2017, and payable in regular installments in accordance with the Company’s normal payroll practices.  During the Term, the Annual Base Salary shall be reviewed by the Board at such time as the salaries of other senior executives of the Company are reviewed generally.  The Annual Base Salary shall not be reduced other than in connection with an across-the-board salary reduction which applies in a comparable manner to other senior executives of the Company.  If so increased or reduced, then such adjusted salary will thereafter be the Annual Base Salary for all purposes under this Agreement.
		

		
			 
		

		
			(b)Annual Incentive.  For each fiscal year during the Term, Executive shall be eligible to participate in the Company’s Short-Term Incentive Plan, or any successor plan (the “STIP”), under terms and conditions no less favorable than other senior executives of the Company; provided that Executive’s “target” short-term incentive opportunity shall not be less than 50% of her Annual Base Salary (the “Target STI”), effective as of August 2, 2017. Executive’s payment under the STIP for any fiscal year during the Term shall be based on the extent to which the predetermined performance objectives established by the Board or a committee thereof have been achieved for that year; provided that, if Executive remains continuously employed by the Company through April 15, 2018, the amount of Executive’s annual incentive bonus for the 2017 fiscal year shall be not less than the Target STI for such fiscal year.  The annual incentive for any fiscal year, if earned, will be paid to Executive by the Company in accordance with the terms, and subject to the conditions, of the STIP.
		

		
			 
		

		
			(c)Project Bonus.  Executive shall be entitled to a bonus in the amount of $40,000 U.S. provided that (i) the Company files all required 2017 Form 10-Qs with the Securities and Exchange Commission by December 15, 2017, (ii) the Company files its 2017 Form 10-K with the Securities and Exchange Commission by March 31, 2018, and (iii) Executive remains continuously employed by the Company through March 31, 2018 (the “Project Bonus”).  The Project Bonus, if earned, shall be paid to Executive in cash during April, 2018.
		

		
			 
		

		
			(d)Vacation.  During the Term, Executive shall be eligible for paid vacation in accordance with the Company’s policies, as may be in effect from time to time, for its senior executives generally; provided that Executive shall be entitled to paid vacation time at a rate of no less than 4 weeks per calendar year.  Executive shall use such vacation time at such reasonable
		

		
			
		

		
			

		 

		

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			time or times each year as she may determine after consultation with the Co-Chief Executive Officers.
		

		
			 
		

		
			(e)Expense Reimbursement.  Executive shall be reimbursed for all reasonable travel and other out-of-pocket expenses actually and properly incurred by Executive during the Term in connection with carrying out her duties hereunder in accordance with the Company’s policies, as may be in effect from time to time, for its senior executives generally.
		

		
			 
		

		
			(f)Benefits.  During the Term, and except as otherwise provided in this Agreement, Executive shall be eligible to participate in all welfare, perquisites, fringe benefit, insurance, retirement and other benefit plans, practices, policies and programs, maintained by the Company and its affiliates applicable to senior executives of the Company generally, in each case as amended from time to time.
		

		
			 
		

		
			(g)Indemnification and Insurance. The Company shall indemnify Executive to the full extent provided for in its corporate charter, bylaws or any other indemnification policy or procedure as in effect from time to time and applicable to its other directors and senior executives and to the maximum extent that the Company indemnifies any of its other directors and senior executives, and she will be entitled to the protection of any insurance policies the Company may elect to maintain generally for the benefit of its directors and senior executives against all costs, charges, liabilities and expenses incurred or sustained by her in connection with any action, suit or proceeding to which she may be made a party by reason of her being or having been a director, officer or employee of the Company or any of its affiliates or her serving or having served any other enterprise, plan or trust as a director, officer, employee or fiduciary at the request of the Company or any of its affiliates (other than any dispute, claim or controversy arising under or relating to this Agreement).
		

		
			 
		

		
			4.Termination of Employment.
		

		
			 
		

		
			(a)Death and Disability.  Executive’s employment shall terminate automatically upon Executive’s death.  If the Company determines in good faith that the Disability (as defined below) of Executive has occurred during the Term, it may give to Executive written notice in accordance with Section 13 of this Agreement of its intention to terminate Executive’s employment; provided that such notice is provided no later than 150 calendar days following the determination of Executive’s Disability.  In such event, Executive’s employment shall terminate effective on the 30th calendar day after receipt of such notice by Executive (the “Disability Effective Date”), provided that, within the 30 calendar days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties.  For purposes of this Agreement, “Disability” shall mean the inability of Executive to perform the essential duties of the position held by Executive by reason of any medically determined physical or mental impairment that is reasonably expected to result in death or lasts for 120 consecutive calendar days in any one-year period, all as determined by an independent licensed physician mutually acceptable to the Company and Executive or Executive’s legal representative.
		

		
			 
		

		
			(b)Cause.  Executive’s employment with the Company may be terminated by the Company with or without Cause.  For purposes of this Agreement, “Cause” shall mean: (i) the continued failure of Executive to perform substantially Executive’s duties with the Company or
		

		
			
		

		
			

		 

		

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			any of its affiliates or Executive’s material disregard of the directives of the Board (in each case other than any such failure resulting from any medically determined physical or mental impairment) that is not cured by Executive within 20 calendar days after a written demand for substantial performance is delivered to Executive by the Board which specifically identifies the manner in which the Board believes that Executive has not substantially performed Executive’s duties or disregarded a directive of the Board; (ii) willful material misrepresentation at any time by Executive to the Board; (iii) Executive’s commission of any act of fraud, misappropriation (other than misappropriation of a de minimis nature) or embezzlement against or in connection with the Company or any of its affiliates or their respective businesses or operations; (iv) a conviction, guilty plea or plea of nolo contendere of Executive for any crime involving dishonesty or for any felony; (v) a material breach by Executive of her fiduciary duties of loyalty or care to the Company or any of its affiliates or a material violation of the Company’s Code of Business Conduct and Ethics or any other material breach of a Company policy, as the same may be amended from time to time; (vi) the engaging by Executive in illegal conduct, gross misconduct, gross insubordination or gross negligence that is materially and demonstrably injurious to the Company’s business or financial condition; or (vii) a material breach by Executive of her obligations under Section 7, 8, 9 or 11 of this Agreement that, in the case of Sections 7, 8 or 11, is not cured (if curable) by Executive within 20 calendar days after written demand for such cure is delivered to Executive by the Board which specifically identifies the manner in which the Board believes that Executive has materially breached her obligations.
		

		
			 
		

		
			(c)Good Reason.  Executive’s employment with the Company may be terminated by Executive with or without Good Reason.  For purposes of this Agreement, “Good Reason”  shall mean the occurrence of any of the following without Executive’s consent: (i) a material reduction by the Company of Executive’s title, duties, responsibilities or reporting relationship set forth in Section 2(a); (ii) a material reduction by the Company of Executive’s Annual Base Salary (other than as permitted in Section 3(a) of this Agreement) or Executive’s Target STI; or (iii) the relocation of Executive’s principal place of employment outside of the Dallas, Texas metropolitan area, provided that Executive may be required to travel on business to the extent necessary to efficiently perform her duties under this Agreement, and such business travel shall not constitute Good Reason hereunder; or (iv) any other material breach of this Agreement by the Company.  A termination of Executive’s employment by Executive shall not be deemed to be for Good Reason unless (x) Executive gives notice to the Company of the existence of the event or condition constituting Good Reason within 30 calendar days after such event or condition initially occurs or exists, and (y) the Company fails to cure such event or condition within 30 calendar days after receiving such notice.  Additionally, Executive must terminate her employment within 120 calendar days after the initial occurrence of the circumstance constituting Good Reason for such termination to be “Good Reason” hereunder.
		

		
			 
		

		
			(d)Notice of Termination.  Any termination by the Company for Cause, or by  Executive for Good Reason, shall be communicated by Notice of Termination to the other party in accordance with Section 13.  For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated and (iii) if the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than 30 calendar days
		

		
			
		

		
			

		 

		

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			after the giving of such notice).  The failure by the Company or Executive to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Cause or Good Reason shall not waive any right of the Company or Executive, respectively, hereunder or preclude the Company or Executive, respectively, from asserting such fact or circumstance in enforcing the Company’s or Executive’s rights hereunder.
		

		
			 
		

		
			(e)Date of Termination. “Date of Termination” means (i) if Executive’s employment is terminated by the Company for Cause, or by Executive for Good Reason, the date of receipt of the Notice of Termination or any later date specified therein within 30 calendar days after such notice, as the case may be, (ii) if Executive’s employment is terminated by the Company other than for Cause or Disability, or if Executive voluntarily resigns without Good Reason, the date on which the terminating party notifies the other party that such termination shall be effective, provided that on a voluntary resignation without Good Reason, the Company may, in its sole discretion, make such termination effective on any date it elects in writing between the date of the notice and the proposed date of termination specified in the notice, (iii) if Executive’s employment is terminated by reason of death, the date of death of Executive, or (iv) if Executive’s employment is terminated by the Company due to Disability, the Disability Effective Date.
		

		
			 
		

		
			(f)Resignation from All Positions.  Notwithstanding any other provision of this Agreement, upon the termination of Executive’s employment by the Company for any reason, Executive shall immediately resign from all positions that she holds or has ever held with the Company and its affiliates.  Executive hereby agrees to execute any and all documentation to effectuate such resignations upon request by the Company, but she shall be treated for all purposes as having so resigned upon termination of her employment, regardless of when or whether she executes any such documentation.
		

		
			 
		

		
			5.Severance Payments.
		

		
			 
		

		
			(a)Good Reason, Other than for Cause.  If, during the Term, the Company shall terminate Executive’s employment other than for Disability or Cause, or if Executive shall terminate employment for Good Reason:
		

		
			 
		

		
			(i)The Company shall pay, or cause to be paid, to Executive the sum of:  (A) the portion of Executive’s Annual Base Salary earned through the Date of Termination, to the extent not previously paid; and (B) any accrued vacation pay, to the extent not previously paid (the sum of the amounts described in clauses (A) and (B) shall be referred to as the “Accrued Benefits”).  The Accrued Benefits shall be paid in a single lump sum within 30 calendar days after the Date of Termination.
		

		
			 
		

		
			(ii)Subject to Section 6 hereof, the Company shall continue to pay, or cause to be paid, to Executive, continued Annual Base Salary (without taking into account any reduction to the Annual Base Salary that constitutes Good Reason for Executive’s termination), for the 12-month period commencing on the Date of Termination (such period, the “Severance Period”), payable over the Severance Period in equal semi-monthly or other installments (not less frequently than monthly), commencing with the first regular payroll date occurring after the Release required by Section 6 becomes effective and irrevocable in accordance with its terms (and with the first such installment including any such Annual Base Salary amount that otherwise
		

		
			
		

		
			

		 

		

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			would have been paid earlier in the Severance Period, and the remaining installments being paid as otherwise scheduled assuming payments had begun immediately after the Date of Termination).  Notwithstanding the foregoing, if the termination described in this Section 5(a) occurs within 90 calendar days prior to, or within 2 years following, a Change in Control (as defined in the Company’s 2015 Equity Incentive Plan (the “Equity Incentive Plan”), provided that, for the avoidance of doubt, for purposes of this Agreement, a “Business Combination”, which may constitute a Change in Control as defined in the Equity Incentive Plan, shall be deemed to include any disposition of two or more of the Company’s business segments and the completion of any related corporate restructuring or transition identified by the Board, then, in addition to the amounts described in the first sentence of this Section 5(a)(ii): (A) if the Date of Termination occurs during fiscal 2018, the Company shall pay or cause to be paid to Executive, in lieu of any Pro-Rated Annual Incentive under Section 5(a)(iv), a lump sum payment equal to Executive’s Target STI under the STIP for the 2018 fiscal year (without pro-ration), payable on the first regular payroll date occurring after the Release required by Section 6 becomes effective and irrevocable in accordance with its terms; and (B) to the extent that the same treatment is not otherwise provided under the Equity Incentive Plan and the applicable award agreements, each of Executive’s then outstanding equity incentive awards shall become vested in full (without pro-ration), with any specified performance objectives with respect to such outstanding awards deemed to be satisfied at the “target” level.
		

		
			 
		

		
			(iii)Subject to Section 6 hereof, the Company shall pay to Executive the amount of any annual incentive that has been earned by Executive under the STIP for a completed fiscal year or other measuring period preceding the Date of Termination (or that would have been earned by Executive had her employment continued through the date such annual incentive is paid to other senior executives), but has not yet been paid to Executive (the “Prior Year Annual Incentive”), payable in a single lump sum no later than the date that annual incentives are payable to other participants in the STIP for that fiscal year (pursuant to the terms of the STIP).
		

		
			 
		

		
			(iv)Subject to Section 6 hereof, if and only if Executive’s Date of Termination occurs at least 3 full calendar months after the beginning of the Company’s fiscal year, and except as otherwise provided in Section 5(a)(ii) or Section 5(a)(v), Executive will be eligible to receive an annual incentive under the STIP for the fiscal year during which the Date of Termination occurs, determined as if Executive had remained employed for the entire year (and any additional period of time necessary to be eligible to receive the annual incentive for the year), based on actual Company performance during the entire fiscal year and without regard to any discretionary adjustments that have the effect of reducing the amount of the annual incentive (other than discretionary adjustments applicable to all senior executives who did not terminate employment), and assuming that any individual goals applicable to Executive were satisfied at the “target” level, pro-rated based on the number of days in the Company’s fiscal year through (and including) the Date of Termination (the “Pro-Rated Annual Incentive”).  The Pro-Rated Annual Incentive shall be payable in a single lump sum at the same time that payments are made to other participants in the STIP for that fiscal year (pursuant to the terms of the STIP).
		

		
			 
		

		
			(v)Subject to Section 6 hereof, if and only if Executive’s Date of Termination occurs prior to April 15, 2018, Executive will be eligible to receive an annual incentive under the STIP for fiscal 2017 equal to the Target STI for fiscal 2017 (without pro-ration).  Any fiscal 2017 annual incentive pursuant to this Section 5(a)(v) shall be payable in a single lump sum on the first
		

		
			
		

		
			

		 

		

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			regular payroll date occurring after the Release required by Section 6 becomes effective and irrevocable in accordance with its terms.
		

		
			 
		

		
			(vi)Subject to Section 6 hereof, if Executive timely elects continued health and dental coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company will pay Executive’s full COBRA premiums to continue her coverage (including coverage for her eligible dependents, if applicable) (the “COBRA Premiums”) for the 12-month period commencing on the Date of Termination (the “COBRA Premium Period”).  The COBRA Premium Period runs concurrently with the Severance Period.  During the COBRA Premium Period, an amount equal to the applicable COBRA Premiums (or such other amounts as may be required by law) will be included in Executive’s income for tax purposes to the extent required by applicable law and the Company may withhold taxes from Executive’s other compensation for this purpose.  Notwithstanding the foregoing, if Executive becomes re-employed with another employer and is eligible to receive substantially equivalent health benefits under another employer-provided plan, then the Company’s payment obligations and Executive’s right to the subsidized premium payments as described in this Section 5(a)(vi) shall cease.
		

		
			 
		

		
			(vii)To the extent not theretofore paid or provided, the Company shall pay or provide, or cause to be paid or provided, to Executive (or her estate) any other amounts, benefits or equity awards required to be paid or provided or which Executive is eligible to receive under any plan, program, policy or practice or contract or agreement of the Company, including any benefits to which Executive is entitled under Part 6 of Subtitle B of Title I of the Employee Retirement Income Security Act of 1974, as amended (such other amounts and benefits shall be hereinafter referred to as the “Other Benefits”) in accordance with the terms and normal procedures of each such plan, program, policy or practice or contract or agreement, based on accrued and vested benefits through the Date of Termination.
		

		
			 
		

		
			(b)Cause; Other than for Good Reason.  If, during the Term, Executive’s employment is terminated for Cause, or if Executive voluntarily terminates her employment without Good Reason, then the Company shall pay or provide to Executive the Accrued Benefits, payable in accordance with Section 5(a)(i) of this Agreement, and the Other Benefits, and no further amounts shall be payable to Executive under this Section 5 after the Date of Termination.
		

		
			 
		

		
			(c)Disability and Death.  If, during the Term, Executive’s employment is terminated for Disability or Executive dies, then the Company shall pay or provide to Executive (or her estate) (i) the Accrued Benefits, payable in accordance with Section 5(a)(i) of this Agreement, (ii) the Other Benefits, (iii) subject to Section 6 hereof, the Prior Year Annual Incentive, payable in accordance with Section 5(a)(iii) of this Agreement, (iv) subject to Section 6 hereof, and if and only if Executive’s Date of Termination occurs at least 3 full calendar months after the beginning of the Company’s fiscal year, the Pro-Rated Annual Incentive, payable in accordance with Section 5(a)(iv) of this Agreement, and (v) in the case of termination for Disability, and subject to Section 6 hereof, an amount equal to the excess, if any, of Executive’s Annual Base Salary for 6 months, over the amounts payable to Executive under the Company’s short-term disability insurance program, which amount shall be payable in equal semi-monthly or other installments (not less frequently than monthly) over the period commencing on the Date of Termination and ending 6 months thereafter, with the installments that otherwise would be paid within the first 60 calendar days after the Date of Termination being paid in a lump sum (without interest) on the 60th day
		

		
			
		

		
			

		 

		

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			after the Date of Termination and the remaining installments being paid as otherwise scheduled assuming payments had begun immediately after the Date of Termination.
		

		
			 
		

		
			(d)Full Settlement; Offset.  The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company or any of its affiliates may have against Executive or others, except as otherwise may be provided in this Section or Section 2(f) or Section 10 hereof.  In no event shall  Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement and such amounts shall not be reduced whether or not Executive obtains other employment.
		

		
			 
		

		
			(e)Section 280G.  In the event it shall be determined that any payment or distribution by the Company or any of its affiliates to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise) (the “Total Payments”), is or will be subject to the excise tax (the “Excise Tax”) imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”), then the Total Payments shall be reduced to the maximum amount that could be paid to Executive without giving rise to the Excise Tax (the “Safe Harbor Cap”), if the net after-tax benefit to Executive after reducing Executive’s Total Payments to the Safe Harbor Cap is greater than the net after-tax (including the Excise Tax) benefit to Executive without such reduction. The reduction of the amounts payable hereunder, if applicable, shall be made by reducing first the cash payments made pursuant to Section 5(a)(ii) of this Agreement, then to the payment made pursuant to Section 5(a)(iii) of this Agreement, then to any payment made pursuant to Section 5(a)(iv) of this Agreement, then to any payment made pursuant to Section 5(a)(v) of this Agreement, then to any payment made pursuant to Section 5(a)(vi) of this Agreement, and then to any other payment that triggers such Excise Tax in the following order: (i) reduction of cash payments; (ii) cancellation of accelerated vesting of performance-based equity awards (based on the reverse order of the date of grant); (iii) cancellation of accelerated vesting of other equity awards (based on the reverse order of the date of grant); and (iv) reduction of any other payments due to Executive (with benefits or payments in any group having different payment terms being reduced on a pro-rata basis). All mathematical determinations, and all determinations as to whether any of the Total Payments are “parachute payments” (within the meaning of Section 280G of the Code), that are required to be made under this paragraph, including determinations as to whether the Total Payments to Executive shall be reduced to the Safe Harbor Cap and the assumptions to be utilized in arriving at such determinations, shall be made at the Company’s expense by a nationally recognized accounting firm mutually acceptable to the Company and Executive.
		

		
			 
		

		
			6.Release. Notwithstanding anything contained herein to the contrary, the Company shall not be obligated to make any payment or provide any benefit under Sections 5(a)(ii), (iii), (iv), (v) and (vi), or Sections 5(c)(iii), (iv) and (v) hereof unless:  (a) Executive or Executive’s legal representative first executes within 50 calendar days after the Date of Termination a release of claims agreement in the form attached hereto as Exhibit A, with such changes as the Company, after consulting with Executive or Executive’s legal representative, may determine to be required or reasonably advisable in order to make the release enforceable and otherwise compliant with applicable law (the “Release”), (b) Executive does not revoke the Release, and (c) the Release becomes effective and irrevocable in accordance with its terms.
		

		
			
		

		
			

		 

		

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			7.Work Product. Executive agrees that all inventions, drawings, improvements, developments, methods, processes, programs, designs and all similar or related information which relates to the Company’s or any of its affiliates’ actual or anticipated business or research and development or existing or future products or services and which are conceived, developed, contributed to or made by Executive (either solely or jointly with others) while employed by or serving as a consultant to the Company or any of its affiliates (“Work Product”) shall be the sole and exclusive property of the Company or any such affiliate. Executive will promptly disclose such Work Product to the Company and perform all actions requested by the Company (whether during or after employment) to establish and confirm such ownership (including, without limitation, assignments, consents, powers of attorney and other instruments).
		

		
			 
		

		
			8.Confidential Information.
		

		
			 
		

		
			(a)“Confidential Information”  means information disclosed to Executive or known by Executive as a result of employment by the Company, not generally known to the trade or industry in which the Company or its affiliates are engaged, about products, processes, technologies, machines, customers, clients, employees, services and strategies of the Company and its affiliates, including, but not limited to, inventions, research, development, manufacturing, purchasing, financing, computer software, computer hardware, automated systems, engineering, marketing, merchandising, selling, sales volumes or strategies, number or location of sales representatives, names or significance of the Company’s customers or clients or their employees or representatives, preferences, needs or requirements, purchasing histories, or other customer or client-specific information.  Such Confidential Information is and shall continue to be the property of the Company.
		

		
			 
		

		
			(b)Executive recognizes that Confidential Information is of great value to the Company, that the Company has legitimate business interests in protecting its confidential information, and that the disclosure to anyone not authorized to receive such information will cause immediate and irreparable injury to the Company.  Except as required by law or in the performance of her duties for the Company, unless Executive first secures the Company’s written consent, Executive will not divulge, disclose, use, copy, disseminate, lecture upon or publish Confidential Information.  Executive understands and agrees that the obligations not to disclose, use, disseminate, lecture upon or publish Confidential Information shall continue after termination of employment for any reason.  Further, Executive will use her best efforts and diligence to safeguard and to protect the Confidential Information against disclosure, misuse, espionage, loss or theft.
		

		
			 
		

		
			(c)Executive agrees that upon the Date of Termination, or at any other time that the Company may request, for whatever reason, Executive shall deliver (and in the event of Executive’s death or Disability, her representative shall deliver) to the Company all computer equipment or backup files of or relating to the Company or its affiliates, all memoranda, correspondence, customer data, notes, plans, records, reports, manuals, photographs, computer tapes and software and other documents and data (and all copies thereof) relating to Confidential Information, Work Product, or the business of the Company or its affiliates which Executive has in her possession, custody or control.  If the Company requests, Executive (or her representative) agrees to provide written confirmation that Executive has returned all such materials.
		

		
			
		

		
			

		 

		

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			(d)Executive agrees that upon the Date of Termination, or at any other time that the Company may request, for whatever reason, Executive shall assign all rights, title and interest in the Confidential Information, the Work Product, all computer equipment or backup files of or relating to the Company or its affiliates, all memoranda, correspondence, customer data, notes, plans, records, reports, manuals, photographs, computer tapes and software and other documents and data (and all copies thereof) relating to Confidential Information, Work Product, or the business of the Company or its affiliates which Executive has in her possession, custody or control.
		

		
			 
		

		
			9.Non-compete; Non-solicitation.
		

		
			 
		

		
			(a)Executive agrees that during the Term and thereafter during the Protection Period (as defined in Section 9(f) below), Executive will not directly or indirectly (by herself or in association with any individual or entity) own, operate, manage, control, be employed by, participate in, consult with, advise, provide services for, or in any manner engage in any business which competes in any way with any business activity that the Company or its affiliates is conducting, or has active plans to conduct, as of the Date of Termination.  This restriction shall apply to any geographic area in which the Company, or any affiliate for which Executive had any responsibilities during the term of her employment, engaged in business, or had active plans to engage in business, during the term of Executive’s employment.  The restrictions contained herein shall not prohibit Executive from being a passive owner of not more than 5% of the outstanding stock of a corporation which is publicly traded, so long as Executive has no active participation in the business of such corporation.  Notwithstanding the foregoing, with respect to an entity which is engaged in both a competing business and a non-competing business, Executive may provide services to the non-competing business, provided that Executive does not render any services or advice, directly or indirectly, to the competing business.
		

		
			 
		

		
			(b)Executive agrees that during the Term and thereafter during the Protection Period, Executive will not directly or indirectly:  (i) solicit or induce, or attempt to solicit or induce, any employee, consultant or independent contractor of the Company or of any affiliate to terminate his or her employment or relationship with the Company or affiliate; (ii) hire any person who Executive knows was an employee, consultant or independent contractor of the Company or of any affiliate during the last 6 months of Executive’s employment by the Company; or (iii) induce or attempt to induce any customer, supplier, distributor, franchisee, licensee, or other individual or entity that has any business relationship with the Company or any of its affiliate to cease doing business with the Company or any of its affiliates, or in any way interfere with the relationship between any such customer, supplier, distributor, franchisee, licensee, or any other individual or entity and the Company or any of its affiliates.
		

		
			 
		

		
			(c)To enable the Company to monitor Executive’s compliance with the obligations imposed by this Agreement, Executive agrees to inform the Company, upon the Date of Termination, of the identity of any new employer and of Executive’s new job title.  Executive will continue to so inform the Company, in writing, any time Executive changes employment during the Protection Period.
		

		
			 
		

		
			(d)In the event that any of these provisions are deemed invalid or unenforceable under applicable law, that shall not affect the validity or enforceability of the remaining provisions.  To
		

		
			
		

		
			

		 

		

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			the extent any provision is unenforceable because it is overbroad, that provision shall be limited to the extent required by applicable law and enforced as so limited.
		

		
			 
		

		
			(e)Executive has carefully considered the nature and extent of the restrictions upon her and the rights and remedies conferred upon the Company under this Section 9, and hereby acknowledges and agrees that the same are reasonable in time and territory, are designed to eliminate competition that otherwise would be unfair to the Company, do not stifle the inherent skill and experience of Executive, would not operate as a bar to Executive’s sole means of support, are fully required to protect the legitimate interests of the Company, and do not confer a benefit upon the Company disproportionate to the detriment to Executive.
		

		
			 
		

		
			(f)For purposes of this Section 9, the term “Protection Period” shall mean the period commencing on the Date of Termination and ending on the date 12 months after the Date of Termination, provided, however, that such period shall be extended by any length of time during which Executive is in breach of the covenants contained in this Section 9.
		

		
			 
		

		
			10.Remedies.  Executive recognizes and affirms that in the event of her breach of any provision of Sections 7, 8 or 9 hereof, money damages would be inadequate and the Company would have no adequate remedy at law. Accordingly, Executive agrees that in the event of a breach or a threatened breach by Executive of any of the provisions of Sections 7, 8 or 9, the Company, in addition and supplementary to other rights and remedies existing in its favor, may (a) apply to any court of law or equity of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce or prevent any violations of the provisions hereof (without posting a bond or other security), and (b) exercise its rights hereunder to cease any further payments and/or vesting of equity awards.  Executive understands and acknowledges that the Company can bar her from disclosing or using Confidential Information, bar her from accepting or continuing prohibited employment or rendering prohibited services, or bar her from soliciting certain individuals and entities for the periods specified in Sections 7, 8 and 9 above.  In the event that the Company institutes legal action to enforce Sections 7, 8 or 9 of this Agreement, Executive agrees that the Company shall be entitled to recover from her its costs of any action (including reasonable attorneys’ and expert fees and expenses).  Nothing in this Section 10 will be deemed to limit the Company’s remedies at law or in equity for any breach by Executive of any of the provisions of Sections 7, 8 or 9 that may be pursued or availed of by the Company.
		

		
			 
		

		
			11.Cooperation in Investigations and Proceedings. During the Term and for a period of 5 years thereafter, Executive shall cooperate with the Company and its affiliates, upon the Company’s reasonable request, with respect to any internal investigation or administrative, regulatory or judicial proceeding involving matters occurring, in whole or in part, during such employment with the Company and within the scope of Executive’s duties and responsibilities to the Company during her employment with the Company (including, without limitation, Executive being available to the Company upon reasonable notice for interviews and factual investigations, appearing at the Company’s reasonable request to give testimony without requiring service of a subpoena or other legal process, and turning over to the Company all relevant Company documents which are or may have come into Executive’s possession during her employment).  In requesting Executive’s cooperation, the Company shall take into account her other personal and professional obligations.  Executive shall be reimbursed for the reasonable expenses Executive
		

		
			
		

		
			

		 

		

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			incurs in connection with any such cooperation and/or assistance and shall receive from the Company hourly compensation equal to the Annual Base Salary immediately prior to the Date of Termination divided by 1,800 hours, in each case in connection with any assistance or cooperation that occurs after the Date of Termination.  Any such reimbursements or per diem compensation shall be paid to Executive no later than the 15th day of the month immediately following the month in which such expenses were incurred or such cooperation and/or assistance was provided (subject to Executive’s timely submission to the Company of proper documentation with respect thereto).
		

		
			 
		

		
			12.Survival.   Subject to any limits on applicability contained therein, Sections 2(f), 3(g), 4(f), 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 19, 20, 22 and 23 shall survive and continue in full force in accordance with their terms notwithstanding any termination of the Term or this Agreement.
		

		
			 
		

		
			13.Notices.   Any notice provided for in this Agreement shall be in writing and shall be either personally delivered, sent by reputable overnight carrier or mailed by first class mail, return receipt requested, to the recipient.  Notices to Executive shall be sent to the address of Executive most recently provided to the Company.  Notices to the Company should be sent to Global Power Equipment Group Inc., 400 E. Las Colinas Boulevard, Suite No. 400 Irving, TX 75039, Attention:  Corporate Secretary.  Any notice under this Agreement will be deemed to have been given when so delivered, sent or mailed.
		

		
			 
		

		
			14.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 or 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.
		

		
			 
		

		
			15.Source of Payment.   Any payments to Executive under this Agreement shall be paid from the Company’s general assets.
		

		
			 
		

		
			16.Complete Agreement. This Agreement embodies the complete agreement and understanding between the parties with respect to the subject matter hereof and effective as of its date supersedes and preempts any prior understandings, agreements or representations by or between the parties, written or oral, which may have related to the subject matter hereof in any way.  For the avoidance of doubt, the parties acknowledge that Executive shall cease to participate in the Company’s Executive Severance Plan as of the Effective Date.
		

		
			 
		

		
			17.Withholding of Taxes.  The Company and its affiliates may withhold from any amounts payable under this Agreement all federal, state, city or other taxes as the Company and its affiliates are required to withhold pursuant to any law or government regulation or ruling.
		

		
			 
		

		
			18.Counterparts. This Agreement may be executed in separate counterparts, each of which shall be deemed to be an original and both of which taken together shall constitute one and the same agreement.
		

		
			
		

		
			

		 

		

			12

		

 

		

		
			 
		

		
			19.Successors and Assigns.
		

		
			 
		

		
			(a)This Agreement is personal to Executive, and, without the prior written consent of the Company, shall not be assignable by Executive other than by will or the laws of descent and distribution.  This Agreement shall inure to the benefit of and be enforceable by Executive’s legal representatives.
		

		
			 
		

		
			(b)This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.  Except as provided in Section 19(c), without the prior written consent of Executive this Agreement shall not be assignable by the Company, except to an affiliate.
		

		
			 
		

		
			(c)The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.  “Company” means the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid that assumes and agrees to perform this Agreement by operation of law or otherwise.
		

		
			 
		

		
			20.Choice of Law. This Agreement shall be governed, construed, interpreted and enforced in accordance with the substantive laws of the State of Texas, without regard to conflicts of law principles.  The parties hereto irrevocably agree to submit to the jurisdiction and venue of the federal and state courts located in Texas in any court action or proceeding brought with respect to or in connection with this Agreement.
		

		
			 
		

		
			21.Voluntary Agreement.  Executive and the Company represent and agree that each has reviewed all aspects of this Agreement, has carefully read and fully understands all provisions of this Agreement, and is voluntarily entering into this Agreement. Each party represents and agrees that such party has had the opportunity to review any and all aspects of this Agreement with legal, tax or other adviser(s) of such party’s choice before executing this Agreement.
		

		
			 
		

		
			22.Amendment and Waiver.  The provisions of this Agreement may be amended or waived only with the prior written consent of the Company and Executive, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect the validity, binding effect or enforceability of this Agreement.
		

		
			 
		

		
			23.Section 409A Compliance.
		

		
			 
		

		
			(a)In General.  Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), imposes payment restrictions on “nonqualified deferred compensation” (i.e., potentially including payments owed to Executive upon termination of employment).  Failure to comply with these restrictions could result in negative tax consequences to Executive, including immediate taxation, interest and a 20% additional income tax. It is the Company’s intent that this Agreement be exempt from the application of, or otherwise comply with, the requirements of Section 409A.  Specifically, any taxable benefits or payments provided under this Agreement are intended to be separate payments that qualify for the “short-term deferral” exception to Section 409A to the maximum extent possible, and to the extent they do not so qualify, are intended to
		

		
			
		

		
			

		 

		

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			qualify for the involuntary separation pay exceptions to Section 409A, to the maximum extent possible.  If neither of these exceptions applies, and if Executive is a “specified employee” within the meaning of Section 409A, then notwithstanding any provision in this Agreement to the contrary and to the extent required to comply with Section 409A, all amounts that would otherwise be paid or provided during the first 6 months following the Date of Termination shall instead be accumulated through and paid or provided (without interest) on the first business day following the 6-month anniversary of the Date of Termination.
		

		
			 
		

		
			(b)Separation from Service.  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 subject to Section 409A upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A and Executive is no longer providing services (at a level that would preclude the occurrence of a “separation from service” within the meaning of Section 409A) to the Company or its affiliates as an employee or consultant, 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” within the meaning of Section 409A.  Notwithstanding any other provision of this Agreement to the contrary, but only to the extent necessary to comply with Section 409A, if the period in which the Release required by Section 6 of this Agreement must be provided and become effective and irrevocable in accordance with its terms begins in one calendar year and ends in a second calendar year, payment of any nonqualified deferred compensation shall be made or commence on the later of (i) the first payroll date of the second calendar year, or (ii) the first payroll date after the date that the Release becomes effective and irrevocable in accordance with its terms
		

		
			 
		

		
			(c)Reimbursements.  With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Section 409A: (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, and (iii) such payments shall be made on or before the last business day of Executive’s taxable year following the taxable year in which the expense occurred, or such earlier date as required hereunder.
		

		
			 
		

		
			IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date first written above.
		

		
			 
		

			
					
						GLOBAL POWER EQUIPMENT GROUP INC.

					
					
						 

					
					
						EXECUTIVE

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						/s/ Tracy D. Pagliara

					
					
						 

					
					
						/s/ Erin Gonzalez

				
	
					
						By: Tracy D. Pagliara
Its:  Co-Chief Executive Officer

					
					
						 

					
					
						Erin Gonzalez

				

		
			 
		

		
			 
		

		
			

		 

		

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			EXHIBIT A
GENERAL RELEASE
		

		
			 
		

		
			This General Release (this “Release”) is made and entered into as of this [●] day of [●], 20[●], by and between Global Power Equipment Group Inc. (the “Company”) and Erin Gonzalez  (“Executive”).
		

		
			 
		

		
			1.Employment Status. Executive’s employment with the Company and its affiliates terminated effective as of [●], 20[●] (the “Separation Date”).
		

		
			 
		

		
			2.Payments and Benefits.  Upon the effectiveness of the terms set forth herein, the Company shall provide Executive with the benefits set forth in Sections 5(a)(ii), (iii), (iv) (if applicable), (v) (if applicable) and (vi) of the Employment Agreement between Executive and the Company dated as of [●], 2017 (the “Employment Agreement”), upon the terms, and subject to the conditions, of the Employment Agreement.
		

		
			 
		

		
			3.No Liability. This Release does not constitute an admission by the Company or its affiliates or their respective officers, directors, partners, agents, or employees, or by Executive, of any unlawful acts or of any violation of federal, state or local laws.
		

		
			 
		

		
			4.Release.  In consideration of the payments and benefits set forth in Section 2 of this Release, Executive for herself, her heirs, administrators, representatives, executors, successors and assigns (collectively, “Releasors”) does hereby irrevocably and unconditionally release, acquit and forever discharge the Company, its respective affiliates and their respective successors and assigns (the “Company Group”) and each of its officers, directors, partners, agents, and former and current employees, including without limitation all persons acting by, through, under or in concert with any of them (collectively, “Releasees”), and each of them, from any and all claims, demands, actions, causes of action, costs, expenses, attorney fees, and all liability whatsoever, whether known or unknown, fixed or contingent, which Executive has, had, or may ever have against the Releasees relating to or arising out of Executive’s employment or separation from employment with the Company Group, from the beginning of time and up to and including the date Executive executes this Release. This Release includes, without limitation: (a) law or equity claims; (b) contract (express or implied) or tort claims; (c) claims for wrongful discharge, retaliatory discharge, whistle blowing, libel, slander, defamation, unpaid compensation, intentional infliction of emotional distress, fraud, public policy contract or tort, and implied covenant of good faith and fair dealing; (d) claims under or associated with any of the Company Group’s incentive compensation plans or arrangements; (e) claims arising under any federal, state, or local laws of any jurisdiction that prohibit age, sex, race, national origin, color, disability, religion, veteran, military status, sexual orientation, or any other form of discrimination, harassment, or retaliation (including without limitation under the Age Discrimination in Employment Act of 1967 as amended by the Older Workers Benefit Protection Act (“ADEA”), Title VII of the Civil Rights Act of 1964 as amended by the Civil Rights Act of 1991, the Equal Pay Act of 1963, and the Americans with Disabilities Act of 1990, the Rehabilitation Act, the Family and Medical Leave Act, the Sarbanes-Oxley Act, the Employee Polygraph Protection Act, the Uniformed Services Employment and Reemployment Rights Act of 1994, the Genetic Information Nondiscrimination Act of 2008 (“GINA”), the Fair Labor Standards Act (“FLSA”), the Lilly Ledbetter Fair Pay Act or any other foreign, federal, state or local law or judicial decision); (f) claims arising under the
		

		
			 
		

		
			
		

		
			

		 

		

			A-1

		

 

		

		
			 
		

		
			Employee Retirement Income Security Act; and (g) any other statutory or common law claims related to Executive’s employment with the Company Group or the separation of Executive’s employment with the Company Group.
		

		
			 
		

		
			Without limiting the foregoing paragraph, Executive represents that she understands that this Release specifically releases and waives any claims of age discrimination, known or unknown, that Executive may have against the Company Group as of the date she signs this Release.  This Release specifically includes a waiver of rights and claims under the Age Discrimination in Employment Act of 1967, as amended, and the Older Workers Benefit Protection Act.  Executive acknowledges that as of the date she signs this Release, she may have certain rights or claims under the Age Discrimination in Employment Act, 29 U.S.C. §626 and she voluntarily relinquishes any such rights or claims by signing this Release.
		

		
			 
		

		
			Notwithstanding the foregoing provisions of this Section 4, nothing herein shall release the Company Group from (i) any obligation under the Employment Agreement; (ii) any obligation to provide benefit entitlements under any Company benefit or welfare plan that were vested as of the Separation Date; and (iii) from any rights or claims that relate to events or circumstances that occur after the date that the Executive executes this Release.
		

		
			 
		

		
			5.Bar.  Executive acknowledges and agrees that if she should hereafter make any claim or demand or commence or threaten to commence any action, claim or proceeding against the Releasees with respect to any cause, matter or thing which is the subject of the release under Section 4 of this Release, this Release may be raised as a complete bar to any such action, claim or proceeding, and the applicable Releasee may recover from Executive all costs incurred in connection with such action, claim or proceeding, including attorneys’ fees, along with the benefits set forth in Section 2 of the Release.
		

		
			 
		

		
			6.Right to Engage in Protected Activity.  Nothing contained in this Release limits Executive’s ability to file a charge or complaint with any federal, state or local governmental agency or commission (a “Government Agency”).  In addition, nothing in this Release or the Employment Agreement or any other Company agreement, policy, practice, procedure, directive or instruction shall prohibit Executive from reporting possible violations of federal, state or local laws or regulations to any Government Agency or making other disclosures that are protected under the whistleblower provisions of federal, state or local laws or regulations.  Executive does not need prior authorization of any kind to make any such reports or disclosures and Executive is not required to notify the Company that Executive has made such reports or disclosures.  If Executive files any charge or complaint with any Government Agency, and if the Government Agency pursues any claim on Executive’s behalf, or if any other third party pursues any claim on Executive’s behalf, Executive waives any right to monetary or other individualized relief (either individually, or as part of any collective or class action) from the Releasees that arises out of alleged facts or circumstances on or before the effective date of this Release; provided that nothing in this Release or the Separation Agreement limits any right Executive may have to receive a whistleblower award or bounty for information provided to the Securities and Exchange Commission or other Government Agency.
		

		
			 
		

		
			7.Governing Law.  This Release shall be governed by and construed in accordance with the laws of the State of Texas, without regard to conflicts of laws principles.
		

		
			 
		

		
			
		

		
			

		 

		

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			8.Acknowledgment. Executive has read this Release, understands it, and voluntarily accepts its terms, and Executive acknowledges that she has been advised by the Company to seek the advice of legal counsel (at Executive’s cost) before entering into this Release. Executive acknowledges that she was given a period of 21 calendar days within which to consider and execute this Release, and to the extent that she executes this Release before the expiration of the 21-day period, she does so knowingly and voluntarily and only after consulting her attorney. Executive acknowledges and agrees that the promises made by the Company Group hereunder represent substantial value over and above that to which Executive would otherwise be entitled.  Executive acknowledges and reconfirms the promises in Sections 7, 8, 9, 10 and 11 of the Employment Agreement.
		

		
			 
		

		
			9.Revocation. Executive has a period of 7 calendar days following the execution of this Release during which Executive may revoke this Release by delivering written notice to the Company pursuant to Section 13 of the Employment Agreement, and this Release shall not become effective or enforceable until such revocation period has expired. Executive understands that if she revokes this Release, it will be null and void in its entirety, and she will not be entitled to any payments or benefits provided in this Release, including without limitation under Section 2 of the Release.
		

		
			 
		

		
			10.Miscellaneous. This Release is the complete understanding between Executive and the Company Group in respect of the subject matter of this Release and supersedes all prior agreements relating to Executive’s employment with the Company Group, except as specifically excluded by this Release. Executive has not relied upon any representations, promises or agreements of any kind except those set forth herein in signing this Release. In the event that any provision of this Release should be held to be invalid or unenforceable, each and all of the other provisions of this Release shall remain in full force and effect. If any provision of this Release is found to be invalid or unenforceable, such provision shall be modified as necessary to permit this Release to be upheld and enforced to the maximum extent permitted by law. Executive agrees to execute such other documents and take such further actions as reasonably may be required by the Company Group to carry out the provisions of this Release.
		

		
			 
		

		
			11.Counterparts. This Release may be executed by the parties hereto in counterparts, which taken together shall be deemed one original.
		

		
			 
		

			
					
						GLOBAL POWER EQUIPMENT GROUP INC.

					
					
						 

					
					
						EXECUTIVE

				
	
					
						 

					
					
						 

					
					
						[Form of release — Do not sign]

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
						Its:

					
					
						 

					
					
						Erin Gonzalez

				

		
			 
		

		 

		

			A-3EX-4.2

 Exhibit 4.2 

LOCKHEED MARTIN CORPORATION 

REGISTRATION RIGHTS AGREEMENT 

September 7, 2017 
 To the Persons Named on

 Schedule I hereto 
 Ladies and Gentlemen: 

Lockheed Martin Corporation, a Maryland corporation (the “Company”), has made an offer (the “Exchange Offer”)
to exchange its 4.09% Notes due 2052 (the “Securities”) to be issued pursuant to the indenture dated the date hereof (the “Indenture”), between the Company and U.S. Bank National Association, as trustee (the
“Trustee”), and cash in an amount specified in the Exchange Offer for its issued and outstanding (i) 8.50% Debentures due 2029, (ii) 7.20% Debentures due 2036, (iii) 6.15% Notes due 2036, (iv) 5.50% Notes due 2039, (v) 5.72% Notes
due 2040, (vi) 4.85% Notes due 2041 and (vii) 4.70% Notes due 2046 (collectively, the “Outstanding Securities”) held by eligible holders. The Company agrees with you, for the benefit of the Holders (as defined below), as follows:

 1. Definitions. As used in this Agreement, the following capitalized defined terms shall have the following meanings: 

“Additional Interest” has the meaning set forth in Section 7(a) hereof. 

“Affiliate” means with respect to any specified Person, any other Person directly or indirectly controlling, controlled by or
under direct or indirect common control with such specified Person. For purposes of this definition, “control” when used with respect to any specified Person means the power to direct or cause the direction of the management and policies
of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling,” and “controlled” have meanings correlative to the foregoing. 

“Agreement” means this Registration Rights Agreement, as it may be amended, supplemented or modified from time to time. 

“Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions, at
the place where any specified act pursuant to this Agreement is to occur, are authorized or obligated by law to close. 

“Commission” means the Securities and Exchange Commission. 

“Dealer Manager Agreement” means the Dealer Manager Agreement dated August 7, 2017 among the Company and each of the
dealer managers named on Schedule I thereto. 
  

 “Exchange Offer Registration Period” means the
180-day period following the consummation of the Registered Exchange Offer, exclusive of any period during which any stop order shall be in effect suspending the effectiveness of the Exchange Offer
Registration Statement; provided that the Exchange Offer Registration Period shall not extend beyond the date on which Exchanging Dealers are no longer required to deliver a prospectus in connection with the resale of any Exchange Securities. 

“Exchange Offer Registration Statement” means a registration statement of the Company on an appropriate form under the
Securities Act with respect to the Registered Exchange Offer, all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein. 
 “Exchange Securities” means debt securities of the Company identical in all
material respects to the Securities (except that the interest rate step-up provisions and the transfer restrictions will be modified or eliminated, as appropriate), to be issued under the Indenture in exchange
for Securities pursuant to the Registered Exchange Offer. 
 “Exchanging Dealer” means any Holder which is a broker-dealer
electing to exchange Securities acquired for its own account as a result of market-making activities or other trading activities for Exchange Securities. 

“Holder” means a holder of the Securities or of any other securities into which the Securities are exchanged. 

“Indemnified Holder Parties” has the meaning set forth in Section 6(a) hereof. 

“Indemnified Underwriter Parties” has the meaning set forth in Section 6(a) hereof. 

“Indenture” has the meaning set forth in the preamble hereto. 

“Losses” has the meaning set forth in Section 6(a) hereof. 

“Majority Holders” means the Holders of a majority of the aggregate principal amount of securities registered under a
Registration Statement. 
 “Managing Underwriters” means the investment banker or investment bankers and manager or managers
that shall administer an offering of securities under a Shelf Registration Statement. 
 “Outstanding Securities” has the
meaning set forth in the preamble hereto. 
 “Person” means an individual, a corporation, a partnership, a limited liability
company, an association, a trust or any other entity, including a government or political subdivision or an agency or instrumentality thereof. 

  
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 “Prospectus” means the prospectus included in any Registration Statement
(including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A under the Securities Act), as amended or supplemented by any
prospectus supplement, with respect to the terms of the offering of any portion of the Securities or the Exchange Securities, covered by such Registration Statement, and all amendments and supplements to the Prospectus, including post-effective
amendments. 
 “Registered Exchange Offer” means the proposed offer to the Holders to issue and deliver to such Holders, in
exchange for the Securities, a like principal amount of the Exchange Securities. 
 “Registration Default” has the meaning
set forth in Section 7(a) hereof. 
 “Registered Exchange Offer Completion Deadline” has the meaning set forth in
Section 2(b) hereof. 
 “Registered Exchange Offer Effectiveness Deadline” has the meaning set forth in
Section 2(a) hereof. 
 “Registration Statement” means any Exchange Offer Registration Statement or Shelf Registration
Statement that covers any of the Securities or the Exchange Securities pursuant to the provisions of this Agreement, all amendments and supplements to such registration statement, including, without limitation, post-effective amendments, in each
case including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. 

“Securities” has the meaning set forth in the preamble hereto. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated
thereunder. 
 “Shelf Registration” means a registration effected pursuant to Section 3 hereof. 

“Shelf Registration Effectiveness Deadline” has the meaning set forth in Section 3(a) hereof. 

“Shelf Registration Period” has the meaning set forth in Section 3(b) hereof. 

“Shelf Registration Statement” means a “shelf” registration statement of the Company pursuant to the provisions of
Section 3 hereof which covers some of or all the Securities or Exchange Securities, as applicable, on an appropriate form under Rule 415 under the Securities Act, or any similar rule that may be adopted by the Commission, all amendments and
supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. 

“Staff” means the staff of the Commission. 

  
 3 

 “Trustee” has the meaning set forth in the preamble hereto. 

“underwriter” means any underwriter of securities in connection with an offering thereof under a Shelf Registration Statement.

 2. Registered Exchange Offer; Resales of Exchange Securities by Exchanging Dealers. 

(a) To the extent not prohibited by any applicable law or applicable interpretation of the Staff, the Company shall prepare and use
commercially reasonable efforts to file with the Commission the Exchange Offer Registration Statement with respect to the Registered Exchange Offer. The Company shall use commercially reasonable efforts to cause the Exchange Offer Registration
Statement to be declared effective under the Securities Act within 365 days after the date of the original issuance of the Securities (or if such 365th day is not a Business Day, the next
succeeding Business Day) (the “Registered Exchange Offer Effectiveness Deadline”). 
 (b) Upon the effectiveness of the
Exchange Offer Registration Statement, the Company shall (i) use commercially reasonable efforts to commence promptly the Registered Exchange Offer and complete the Registered Exchange Offer not later than 395 days after the date of the
original issuance of the Securities (or if such 395th day is not a Business Day, the next succeeding Business Day) (the “Registered Exchange Offer Completion Deadline”) and
(ii) use commercially reasonable efforts to issue, promptly after the expiration of such Registered Exchange Offer, the Exchange Securities in exchange for all Securities validly tendered prior to the expiration of such Registered Exchange
Offer. 
 (c) In connection with the Registered Exchange Offer, the Company shall: 

(i) mail to each Holder a copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with an
appropriate letter of transmittal and related documents; 
 (ii) keep the Registered Exchange Offer open for not less than 30
days after the date notice thereof is mailed to the Holders (or longer if required by applicable law); 
 (iii) utilize the
services of a depositary for the Registered Exchange Offer with an address in the Borough of Manhattan, The City of New York; and 

(iv) comply in all material respects with all applicable laws. 

(d) As soon as practicable after the close of the Registered Exchange Offer: 

(i) the Company shall accept for exchange all Securities tendered and not validly withdrawn pursuant to the Registered Exchange
Offer; 

  
 4 

 (ii) the Company shall deliver to the Trustee for cancellation all Securities so
accepted for exchange; and 
 (iii) the Company shall instruct the Trustee to promptly authenticate and deliver to each
Holder of Securities so accepted for exchange, Exchange Securities equal in principal amount to the Securities of such Holder so accepted for exchange. 

(e) As a condition to participating in the Registered Exchange Offer, a Holder will be required to represent to the Company that (i) the
Securities have been and any Exchange Securities received by it will be acquired in the ordinary course of its business, (ii) at the time of the commencement of the Registered Exchange Offer it has no arrangement or understanding with any
Person to participate and is not engaged and does not intend to engage in the distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act, (iii) it is not an
“affiliate” (within the meaning of Rule 405 under the Securities Act) of the Company, (iv) it is not a broker-dealer tendering Securities that it acquired in exchange for Outstanding Securities acquired directly from the Company for
its own account, and (v) if such Holder is a broker-dealer that will receive Exchange Securities for its own account in exchange for Securities that were acquired as a result of market-making or other trading activities, then such Holder will
deliver a Prospectus in connection with any resale of such Exchange Securities. 
 (f) The Company acknowledges that, pursuant to current
interpretations by the Staff of Section 5 of the Securities Act, and in the absence of an applicable exemption therefrom, each Exchanging Dealer is required to deliver a Prospectus in connection with any resale of any Exchange Securities
received by such Exchanging Dealer pursuant to the Registered Exchange Offer in exchange for Securities acquired for its own account as a result of market-making activities or other trading activities. Accordingly, the Company shall: 

(i) indicate in a “Plan of Distribution” section contained in the Prospectus forming a part of the Exchange Offer
Registration Statement that any Exchanging Dealer who holds Securities acquired for its own account as a result of market-making activities or other trading activities may exchange such Securities for Exchange Securities pursuant to the Registered
Exchange Offer; however, such Exchanging Dealer may be deemed to be an “underwriter” within the meaning of the Securities Act and must, therefore, deliver a prospectus meeting the requirements of the Securities Act in connection with any
resales of the Exchange Securities received by such Exchanging Dealer in the Registered Exchange Offer, which prospectus delivery requirement may be satisfied by the delivery by such Exchanging Dealer of the Prospectus contained in the Exchange
Offer Registration Statement. Such “Plan of Distribution” section shall also contain all other information with respect to such resales by Exchanging Dealers that the Commission or Staff may require in order to permit such resales pursuant
thereto, but such “Plan of Distribution” shall not name any such Exchanging Dealer or disclose the amount of Securities held by such Exchanging Dealer except to the extent required by the Commission or the Staff. 

  
 5 

 (ii) use commercially reasonable efforts to keep the Exchange Offer Registration
Statement continuously effective under the Securities Act during the Exchange Offer Registration Period for delivery by Exchanging Dealers in connection with sales of Exchange Securities received pursuant to the Registered Exchange Offer, as
contemplated by Section 4(h) below. 
 3. Shelf Registration. If, (i) because of any change in law or applicable
interpretations thereof by the Staff, the Company determines that it is not permitted to effect the Registered Exchange Offer as contemplated by Section 2 hereof, (ii) for any other reason the Registered Exchange Offer is not completed by
the Registered Exchange Offer Completion Deadline, or (iii) any Holder informs the Company prior to the day that is 20 days following the completion of the Registered Exchange Offer that it was prohibited by law or Commission policy from
participating in the Registered Exchange Offer (other than due solely to the status of such Holder as an affiliate of the Company within the meaning of the Securities Act), or (iv) in the case of any such Holder that participates in the
Registered Exchange Offer, such Holder does not receive freely tradable Exchange Securities in exchange for tendered Securities, other than by reason of such Holder being an affiliate of the Company within the meaning of the Securities Act (it being
understood that, for purposes of this Section 3, the requirement that an Exchanging Dealer deliver a Prospectus in connection with resales of Exchange Securities acquired in the Registered Exchange Offer in exchange for Securities acquired as a
result of market making activities or other trading activities shall not result in such Exchange Securities being not “freely tradable”), the following provisions shall apply: 

(a) The Company shall use commercially reasonable efforts to file with the Commission and thereafter use commercially reasonable efforts to
cause to be declared effective under the Securities Act a Shelf Registration Statement within 210 days after the date, if any on which the Company becomes obligated to file the Shelf Registration Statement (or if such 210th day is not a Business Day, the next succeeding Business Day) (the “Shelf Registration Effectiveness Deadline”), or shall, if permitted by Rule 430B under the Securities Act,
otherwise designate an existing effective registration statement with the Commission for use by the Holders as a Shelf Registration Statement, relating to the offer and sale of the Securities or the Exchange Securities, as applicable, by the Holders
from time to time in accordance with the methods of distribution elected by such Holders and set forth in such Shelf Registration Statement, and any such existing registration statement, as so designated, shall be referred to herein as, and governed
by the provisions herein applicable to, a Shelf Registration Statement. 
 (b) The Company shall use commercially reasonable efforts to keep
the Shelf Registration Statement continuously effective in order to permit the Prospectus forming part thereof to be usable by Holders for a period of two years from the date of the original issuance of the Securities or such shorter period that
will terminate when all the Securities or Exchange Securities, as applicable, covered by the Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement (in any such case, such period being called the “Shelf
Registration Period”). The Company shall be deemed not to have used commercially reasonable efforts to keep the Shelf Registration Statement effective during the Shelf Registration Period if it voluntarily takes any action that would result
in Holders of securities covered thereby not being able to offer and sell such securities during that period, unless (i) such action is required by applicable law or (ii) such action is taken by the Company in good faith

  
 6 

 
and for valid business reasons (not including avoidance of the Company’s obligation hereunder), including the acquisition or divestiture of assets, so long as the Company promptly thereafter
complies with the requirements of Section 4(k) hereof, if applicable. 
 4. Registration Procedures. In connection with any
Shelf Registration Statement and, to the extent applicable, any Exchange Offer Registration Statement, the following provisions shall apply: 

(a) The Company shall furnish to you, prior to the filing or designation thereof with the Commission, a copy of any Registration Statement,
each amendment thereof and each amendment or supplement, if any, to the Prospectus included therein and shall use commercially reasonable efforts to reflect in each such document, when so filed or designated with the Commission, such comments as you
may reasonably propose and to which the Company does not reasonably object. 
 (b) The Company shall ensure that (i) any Registration
Statement and any amendment thereto and any Prospectus forming part thereof and any amendment or supplement thereto complies in all material respects with the Securities Act and the rules and regulations thereunder, (ii) any Registration
Statement and any amendment thereto does not, when it becomes effective (or, in the case of a previously filed registration statement that is effective at the time it is designated as a Shelf Registration Statement, when it is so designated),
contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading and (iii) any Prospectus forming part of any Registration Statement, and
any amendment or supplement to such Prospectus, does not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made,
not misleading. 
 (c) (1) The Company shall notify you and, in the case of a Shelf Registration Statement, the Holders of securities covered
thereby, and, if requested by you or any such Holder, confirm such notification in writing: 
 (i) when a Registration
Statement and any amendment thereto has been filed (or, in the case of a previously filed registration statement that is effective at the time it is designated as a Shelf Registration Statement, when it is so designated) with the Commission and when
the Registration Statement or any post-effective amendment thereto has become effective (or, in the case of a previously filed registration statement that is effective at the time it is designated as a Shelf Registration Statement, when it is so
designated); and 
 (ii) of any request by the Commission for amendments or supplements to the Registration Statement or the
Prospectus included therein or for additional information. 
 (2) The Company shall notify you and, in the case of a Shelf Registration
Statement, the Holders of securities covered thereby, and, in the case of an Exchange Offer Registration Statement, any Exchanging Dealer which has provided in writing to the Company a telephone or facsimile number and address for notices, and, if
requested by you or any such Holder or Exchanging Dealer, confirm such notification in writing: 

  
 7 

 (i) of the issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; 
 (ii) of the receipt by
the Company of any notification with respect to the suspension of the qualification of the securities included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and 

(iii) of the determination by the Company that use of the Prospectus must be suspended due to the happening of any event that
requires the making of any changes in the Registration Statement or the Prospectus so that, as of such date, the statements therein are not misleading and do not omit to state a material fact required to be stated therein or necessary to make the
statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not misleading. 
 Each
such Holder or Exchanging Dealer agrees by its acquisition of such securities to be sold by such Holder or Exchanging Dealer, that, upon being so notified by the Company of a determination by the Company to suspend the use of the Prospectus
described in clause (iii) of this paragraph (c)(2), such Holder or Exchanging Dealer will forthwith discontinue disposition of such securities under such Registration Statement or Prospectus, until such Holder’s or Exchanging Dealer’s
receipt of the copies of the supplemented or amended Prospectus contemplated by paragraph 4(k) hereof, or until it is notified in writing by the Company that the use of the applicable Prospectus may be resumed. 

(d) The Company shall use commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any
Registration Statement at the earliest possible time. 
 (e) The Company shall furnish to each Holder of securities included within the
coverage of any Shelf Registration Statement, without charge, at least one copy of such Shelf Registration Statement and any post-effective amendment thereto, including financial statements and schedules, and, if the Holder so requests in writing,
any documents incorporated by reference therein and all exhibits thereto (including those incorporated by reference therein). 
 (f) The
Company shall, during the Shelf Registration Period, deliver to each Holder of securities included within the coverage of any Shelf Registration Statement, without charge, as many copies of the Prospectus (including each preliminary Prospectus)
included in such Shelf Registration Statement and any amendment or supplement thereto as such Holder may reasonably request; and the Company consents to the use of the Prospectus or any amendment or supplement thereto by each of the selling Holders
of securities in connection with the offering and sale of the securities covered by the Prospectus or any amendment or supplement thereto. 

(g) The Company shall furnish to each Exchanging Dealer which so requests, 

  
 8 

 
without charge, at least one copy of the Exchange Offer Registration Statement and any post-effective amendment thereto, including financial statements and schedules and, if the Exchanging Dealer
so requests in writing, any documents incorporated by reference therein and all exhibits thereto (including those incorporated by reference therein). 

(h) The Company shall, during the Exchange Offer Registration Period, promptly deliver to each Exchanging Dealer, without charge, as many
copies of the Prospectus included in such Exchange Offer Registration Statement and any amendment or supplement thereto as such Exchanging Dealer may reasonably request for delivery by such Exchanging Dealer in connection with a sale of Exchange
Securities received by it pursuant to the Registered Exchange Offer; and the Company consents to the use of the Prospectus or any amendment or supplement thereto by any such Exchanging Dealer, as aforesaid. 

(i) Prior to the Registered Exchange Offer or any other offering of securities pursuant to any Registration Statement, the Company shall
register or qualify or cooperate with the Holders of securities included therein and their respective counsel in connection with the registration or qualification of such securities for offer and sale under the securities or blue sky laws of such
jurisdictions as any such Holder reasonably requests in writing and do any and all other acts or things necessary or advisable to enable the offer and sale in such jurisdictions of the securities covered by such Registration Statement; provided,
however, that the Company will not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to general service of process or to taxation in any such
jurisdiction where it is not then so subject. 
 (j) In the case of a Shelf Registration Statement, the Company shall cooperate with the
Holders of Securities to facilitate the timely preparation and delivery of certificates representing Securities or Exchange Securities, as applicable, to be sold pursuant to such Shelf Registration Statement free of any restrictive legends and in
such denominations and registered in such names as Holders may request prior to sales of securities pursuant to such Shelf Registration Statement. 

(k) Upon the occurrence of any event contemplated by paragraph (c)(2)(iii) above, the Company shall promptly prepare a post-effective
amendment to any Registration Statement or an amendment or supplement to the related Prospectus or file any other required document so that, as thereafter delivered to purchasers of the securities included therein, the Prospectus will not include an
untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

(l) Not later than the effective date (or the designation date, in the case of a previously filed registration statement that is effective at
the time it is designated as a Shelf Registration Statement) of any such Registration Statement hereunder, the Company shall provide a CUSIP number for the Securities or Exchange Securities, as the case may be, registered under such Registration
Statement, and provide the Trustee with printed certificates for such Securities or Exchange Securities, in a form, if requested by the applicable Holder or Holder’s Counsel, eligible for deposit with The Depository Trust Company or any
successor thereto under the Indenture. 

  
 9 

 (m) The Company shall use commercially reasonable efforts to comply with all applicable rules and
regulations of the Commission to the extent and so long as they are applicable to the Registered Exchange Offer or the Shelf Registration and will make generally available to its security holders a consolidated earnings statement (which need not be
audited) covering a twelve-month period commencing after the effective date (or the designation date, in the case of a previously filed registration statement that is effective at the time it is designated as a Shelf Registration Statement) of the
Registration Statement and ending not later than 15 months thereafter, as soon as practicable after the end of such period, which consolidated earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act. 

(n) The Company shall cause the Indenture, if not already so qualified, to be qualified under the Trust Indenture Act of 1939, as amended, on
or prior to the effective date (or the designation date, in the case of a previously filed registration statement that is effective at the time it is designated as a Shelf Registration Statement) of any Shelf Registration Statement or Exchange Offer
Registration Statement. 
 (o) The Company may require each Holder of securities to be sold pursuant to any Shelf Registration Statement to
furnish to the Company in writing such information regarding the Holder and the distribution of such securities as the Company may from time to time reasonably require for inclusion in such Registration Statement. The Company may exclude from any
such Registration Statement the securities of any such Holder who fails to furnish such information within a reasonable time after receiving such request. Each Holder as to which any Shelf Registration is being effected agrees to furnish promptly to
the Company all information required to be disclosed in order to make the information previously furnished to the Company by such Holder not materially misleading. Each Holder further agrees that, neither such Holder nor any underwriter
participating in any disposition pursuant to any Shelf Registration Statement on such Holder’s behalf, will make any offer relating to the securities to be sold pursuant to such Shelf Registration Statement that would constitute an issuer free
writing prospectus (as defined in Rule 433 under the Securities Act) or that would otherwise constitute a “free writing prospectus” (as defined in Rule 405 under the Securities Act) required to be filed by the Company with the Commission
or retained by the Company under Rule 433 of the Securities Act, unless it has obtained the prior written consent of the Company (and except for as otherwise provided in any underwriting agreement entered into by the Company and any such
underwriter). 
 (p) If requested by a Holder of Securities or Exchange Securities, as applicable, covered by a Shelf Registration
Statement, promptly incorporate in a Prospectus supplement or post-effective amendment to the Shelf Registration Statement, such information with respect to such Holder as such Holder reasonably requests to be included therein and to which the
Company does not reasonably object and shall make all required filings of such Prospectus supplement or post-effective amendment as soon as notified of the information with respect to such Holder to be incorporated in such Prospectus supplement or
post-effective amendment. 
 (q) (i) In the case of any Shelf Registration Statement, the Company shall enter into such customary agreements
(including underwriting agreements) and take all other appropriate actions in order to expedite or facilitate the registration or the disposition of the 

  
 10 

 
Securities, and in connection therewith, if an underwriting agreement is entered into, cause the same to contain indemnification provisions and procedures no less favorable than those set forth
in Section 6 hereof (or such other provisions and procedures acceptable to the Majority Holders and the Managing Underwriters, if any), with respect to all parties to be indemnified pursuant to Section 6 hereof from Holders of Securities
to the Company. 
 (ii) Without limiting in any way paragraph (q)(i), no Holder may participate in any underwritten registration hereunder
unless such Holder (x) agrees to sell such Holder’s securities to be covered by such registration on the basis provided in any underwriting arrangements approved by the Majority Holders and the Managing Underwriters and (y) completes
and executes in a timely manner all customary questionnaires, powers of attorney, underwriting agreements and other documents reasonably required by the Company or the Managing Underwriters in connection with such underwriting arrangements. 

(r) In the case of any Shelf Registration Statement, the Company shall (i) make reasonably available for inspection by the Holders of
securities to be registered thereunder, any underwriter participating in any disposition pursuant to such Registration Statement, and any attorney, accountant or other agent retained by the Holders or any such underwriter, all relevant financial and
other records, pertinent corporate documents and properties of the Company and its subsidiaries reasonably requested by such Person; (ii) cause the Company’s officers, directors and employees to supply all relevant information reasonably
requested by the Holders or any such underwriter, attorney, accountant or agent in connection with any such Registration Statement as is customary for due diligence examinations in connection with primary underwritten offerings; provided,
however, that any information that is nonpublic at the time of delivery of such information shall be kept confidential by the Holders or any such underwriter, attorney, accountant or agent, unless such disclosure is made in connection with a
court proceeding or required by law, or such information becomes available to the public generally or through a third party without an accompanying obligation of confidentiality; (iii) make such representations and warranties to the Holders of
securities registered thereunder and the underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings; (iv) obtain opinions of counsel to the Company (which counsel and
opinions (in form, scope and substance) shall be reasonably satisfactory to the Managing Underwriters, if any) addressed to each selling Holder and the underwriters, if any, covering such matters as are customarily covered in opinions requested in
underwritten offerings; (v) obtain comfort letters (or, in the case of any Person that does not satisfy the conditions for receipt of a comfort letter specified in AS 6101, an “agreed-upon procedures” letter under AT Section 201)
and updates thereof from the independent certified public accountants of the Company (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the Company for which
financial statements and financial data are, or are required to be, included or incorporated by reference in the Registration Statement), addressed to each selling Holder of securities registered thereunder and the underwriters, if any, in customary
form and covering matters of the type customarily covered in comfort letters in connection with primary underwritten offerings; and (vi) deliver such documents and certificates as may be reasonably requested by the Majority Holders and the
Managing Underwriters, if any, including those to evidence compliance with Section 4(k) and with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company. The foregoing actions set forth in
clauses (iii), (iv), (v) and (vi) of this Section 4(r) shall be performed at each closing under any underwriting or similar agreement as and to the extent required thereunder. 

  
 11 

 5. Registration Expenses. Except as otherwise provided in Section 4, the Company
shall bear all expenses incurred in connection with the performance of its obligations under Sections 2, 3 and 4 hereof and, in the event of any Shelf Registration Statement, will reimburse the Holders for the reasonable fees and disbursements of
one firm or counsel designated by the Majority Holders to act as counsel for the Holders in connection therewith. Notwithstanding the foregoing, the Holders of the securities being registered shall pay all agency or brokerage fees and commissions
and underwriting discounts and commissions attributable to the sale of such securities and the fees and disbursements of any counsel or other advisors or experts retained by such Holders (severally or jointly), other than the counsel specifically
referred to above in this Section 5, transfer taxes on resale of any of the securities by such Holders and any advertising expenses incurred by or on behalf of such Holders in connection with any offers they may make. 

6. Indemnification and Contribution. (a) In connection with any Registration Statement, the Company agrees to indemnify and hold
harmless each Holder of securities covered thereby (including with respect to any Prospectus delivery as contemplated in Section 4(h) hereof, each Exchanging Dealer), the directors, officers, employees and agents of each such Holder, and each
other Person, if any, who controls any such Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively, the “Indemnified Holder Parties”) against any and all losses,
claims, damages and liabilities (collectively “Losses”), joint or several, to which they or any of them may become subject under the Securities Act, the Exchange Act or other Federal or state statutory law or regulation, at common
law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) solely arise out of or are solely based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration
Statement as originally filed or in any amendment thereof, or in any preliminary Prospectus or Prospectus, or in any amendment thereof or supplement thereto, or solely arise out of or are solely based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and agrees to reimburse each such Indemnified Holder Party, as incurred, for any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such Losses; provided, however, that the Company shall not be liable to any Indemnified Holder Party in any such case to the extent that any such untrue statement or alleged untrue statement or
omission or alleged omission was made in such Registration Statement or Prospectus, or amendment or supplement, in reliance upon and in conformity with written information furnished to the Company by any Holder expressly for use therein. This
indemnity agreement will be in addition to any liability which the Company may otherwise have. 
 The Company also agrees to indemnify any
underwriters of Securities registered under a Shelf Registration Statement, their officers, directors, employees and agents and each Person who controls such underwriters (collectively, the “Indemnified Underwriter Parties”) for any
Losses on substantially the same basis as that of the indemnification of the Indemnified Holder Parties provided in this Section 6(a), agrees to reimburse each such Indemnified Underwriter Party, as incurred, for any legal or other expenses
reasonably incurred by them in connection with investigating or defending any such Losses, and shall, if requested by any 

  
 12 

 
Holder, enter into an underwriting agreement reflecting such agreement, as provided in Section 4(q) hereof; provided, however, that the Company shall not be liable to any Indemnified
Underwriter Party in any such case to the extent that any such untrue statement or alleged untrue statement or omission or alleged omission was made in such Registration Statement or Prospectus, or amendment or supplement, in reliance upon and in
conformity with written information furnished to the Company by any underwriter expressly for use therein. 
 (b) Each Holder of securities
covered by a Registration Statement (including with respect to any Prospectus delivery as contemplated in Section 4(h) hereof, each Exchanging Dealer) severally and not jointly agrees to (i) indemnify and hold harmless the Company, each of
its directors and each officer who signed the Registration Statement and each other Person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, each other Indemnified
Holder Party, and each Indemnified Underwriter Party to the same extent as the foregoing indemnity from the Company to the Indemnified Holder Parties or Indemnified Underwriter Parties, as the case may be, but only with reference to written
information relating to such Holder furnished to the Company by or on behalf of such Holder specifically for inclusion in the documents referred to in the foregoing indemnity and (ii) reimburse the Company and each other aforementioned Person,
as incurred, for any legal or other expenses reasonably incurred by it in connection with the investigation or defending of any such Loss. This indemnity agreement will be in addition to any liability which any such Holder may otherwise have. 

(c) Promptly after receipt by an indemnified party under this Section of notice of the commencement of any litigation or proceeding, such
indemnified party will, if a claim is to be made hereunder against the Company in respect thereof, notify the Company in writing of the commencement thereof; provided that (i) the omission to so notify the Company will not relieve it from any
liability which it may have hereunder except to the extent it has been materially prejudiced by such failure and (ii) the omission to so notify the Company will not relieve it from any liability which it may have to an indemnified party
otherwise than on account of this Agreement. In case any such proceedings are brought against any indemnified party and it notifies the Company of the commencement thereof, the Company will be entitled to participate therein and, to the extent that
it may elect by written notice delivered to such indemnified party, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party, provided that if the defendants in any such proceedings include both such indemnified
party and the Company and such indemnified party shall have reasonably concluded that there may be legal defenses available to it which are different from or additional to those available to the Company, such indemnified party shall have the right
to select separate counsel to assert such legal defenses and to otherwise participate in the defense of such proceedings on behalf of such indemnified party. Upon receipt of notice from the Company to such indemnified party of its election so to
assume the defense of such proceedings and approval by such indemnified party of counsel, the Company shall not be liable to such indemnified party for expenses incurred by such indemnified party in connection with the defense thereof (other than
reasonable costs of investigation) unless (i) such indemnified party shall have employed separate counsel in connection with the assertion of legal defenses in accordance with the proviso to the immediately preceding sentence (it being
understood, however, that the Company shall not be liable for the expenses of more than one separate counsel (in addition to any local counsel) representing the indemnified parties who are parties to

  
 13 

 
such proceedings), (ii) the Company shall not have employed counsel reasonably satisfactory to such indemnified party to represent such indemnified party within a reasonable time after notice to
the Company of commencement of the proceedings or (iii) the Company has authorized in writing the employment of counsel for such indemnified party. 

The Company shall not be liable for any settlement of any litigation, action or proceeding effected without its written consent (which consent
shall not be unreasonably withheld or delayed), but if settled with its written consent or if there be a final judgment for the plaintiff in any such proceedings, the Company agrees to indemnify and hold harmless each indemnified party from and
against any and all Losses by reason of such settlement or judgment. The Company shall not, without the prior written consent of an indemnified party (which consent shall not be unreasonably withheld or delayed), effect any settlement of any pending
or threatened proceedings in respect of which indemnity could have been sought hereunder by such indemnified party unless such settlement (i) includes an unconditional release of such indemnified party in form and substance reasonably
satisfactory to such indemnified party from all liability on claims that are the subject matter of such proceedings and (ii) does not include any statement as to or any admission of default, culpability or a failure to act by or on behalf of
any indemnified party. 
 The indemnity, reimbursement and contribution obligations of the Company under this Section 6 shall be in
addition to any liability which the Company may otherwise have to an indemnified party and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Company and any indemnified party. 

(d) In the event that the indemnity provided in paragraph (a) or (b) of this Section 6 is unavailable to or insufficient to hold
harmless an indemnified party for any reason, then each applicable indemnifying party, in lieu of indemnifying such indemnified party, shall have a joint and several obligation to contribute to the aggregate Losses (including legal or other expenses
reasonably incurred in connection with investigating or defending same) to which such indemnified party may be subject in such proportion as is appropriate to reflect the relative benefits received by such indemnifying party, on the one hand, and
such indemnified party, on the other hand, from the Registration Statement which resulted in such Losses. If the allocation provided by the immediately preceding sentence is unavailable for any reason, the indemnifying party shall contribute in such
proportion as is appropriate to reflect not only such relative benefits but also the relative fault of such indemnifying party, on the one hand, and such indemnified party, on the other hand, in connection with the statements or omissions which
resulted in such Losses as well as any other relevant equitable considerations. Benefits received by the Company shall be deemed to be equal to the sum of (x) the aggregate principal amount of Securities issued in the Exchange Offer (before
deducting expenses) and (y) the total amount of Additional Interest which the Company was not required to pay as a result of registering the securities covered by the Registration Statement which resulted in such Losses, and benefits received
by (i) any Holders shall be deemed to be equal to the value of receiving Securities or Exchange Securities, as applicable, registered under the Securities Act and (ii) any underwriters shall be deemed to equal the total underwriting
discounts and commissions actually received by the underwriters in connection with the resale of securities. Relative fault shall be determined by reference to whether any alleged untrue statement or omission relates to information provided by the
indemnifying party, on the one hand, or by the indemnified party, on the other 

  
 14 

 
hand. The parties agree that it would not be just and equitable if contribution were determined by pro rata allocation or any other method of allocation which does not take account of the
equitable considerations referred to above. Notwithstanding the provisions of this paragraph (d), no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
from any Person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 6, each Person who controls a Holder or an underwriter, as the case may be, within the meaning of either the Securities Act or the Exchange
Act and each director, officer, employee and agent of such Holder or underwriter, as the case may be, shall have the same rights to contribution as such Holder or underwriter, as the case may be, and each Person who controls the Company within the
meaning of either the Securities Act or the Exchange Act, each officer of the Company who shall have signed the Registration Statement and each director of the Company shall have the same rights to contribution as the Company, subject in each case
to the applicable terms and conditions of this paragraph (d). 
 (e) The provisions of this Section 6 will remain in full force and
effect, regardless of any investigation made by or on behalf of any Holder, the Company or any underwriter or any of the officers, directors or controlling Persons referred to in this Section 6, and will survive the sale by a Holder of
securities covered by a Registration Statement. 
 7. Registration Defaults and Additional Interest. (a) If any of the following
events (each a “Registration Default”) shall occur, then the Company shall pay certain additional interest (“Additional Interest”) to the Holders of the Securities affected thereby in accordance with
Section 7(b): 
 (i) neither the Registered Exchange Offer with respect to the Securities has been completed by the
Registered Exchange Offer Completion Deadline nor the Shelf Registration Statement with respect to the Securities has become effective on or prior to the Shelf Registration Effectiveness Deadline; 

(ii) the Exchange Offer Registration Statement with respect to the of Securities has become effective but thereafter ceases to
be effective or usable prior to the consummation of the Registered Exchange Offer with respect to the Securities unless such ineffectiveness is cured on or prior the Registered Exchange Offer Effectiveness Deadline; or 

(iii) after the Shelf Registration Statement has become effective, such Registration Statement thereafter ceases to be
effective or usable in connection with resales of the Securities for more than 120 days, whether or not consecutive, in any twelve-month period at any time that the Company is obligated to maintain the effectiveness thereof pursuant to the
Registration Agreement. 
 (b) Additional Interest shall accrue (in addition to stated interest on the Securities) on the aggregate
principal amount of the Securities affected by the Registration Default from and including the date on which the first such Registration Default shall occur to but excluding the date on which all Registration Defaults have been cured, at a rate per
annum equal to 0.25% of the principal amount of the Securities. Accrued Additional Interest, if any, 

  
 15 

 
shall be paid in cash in arrears semiannually on March 15 and September 15 in each year; and the amount of accrued Additional Interest shall be determined on the basis of the number of
days actually elapsed. Any accrued and unpaid interest (including Additional Interest) on any of the Securities shall, upon the issuance of an Exchange Security in exchange therefore cease to be payable to the Holder thereof but such accrued and
unpaid interest (including Additional Interest) shall be payable on the next interest payment date for such Exchange Security to the Holder thereof on the related record date. Any Additional Interest payable by the Company shall constitute
liquidated damages and shall be the exclusive remedy, monetary or otherwise, available to Holders with respect to a Registration Default. 

8. Miscellaneous. 
 (a)
No Inconsistent Agreements. The Company has not, as of the date hereof, entered into, nor shall it, on or after the date hereof, enter into, any agreement with respect to its securities that limits the rights granted to the Holders herein or
otherwise conflicts with the provisions hereof. 
 (b) Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended, qualified, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company has obtained the written consent of the Holders of at least a
majority of the then outstanding aggregate principal amount of Securities (or, after the consummation of any Exchange Offer in accordance with Section 2 hereof, of Exchange Securities). Notwithstanding the foregoing, a waiver or consent to
departure from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders whose securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect the rights of other
Holders may be given by the Majority Holders, determined on the basis of securities being sold rather than registered under such Registration Statement. 

(c) Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery,
first-class mail, facsimile, or air courier guaranteeing overnight delivery: 
 (i) if to a Holder, at the most current
address given by such Holder to the Company in accordance with the provisions of this Section 8(c), which address initially is, with respect to each Holder, the address of such Holder maintained by the registrar under the Indenture; 

(ii) if to you, initially at the address set forth on Schedule I hereto; and 

(iii) if to the Company, initially at its address set forth in the Dealer Manager Agreement. 

All such notices and communications shall be deemed to have been duly given when actually received. 

The Trustee or the Company by notice to the other may designate additional or different addresses for subsequent notices or communications.

  
 16 

 (d) Successors and Assigns. This Agreement shall inure to the benefit of and be binding
upon the successors and assigns of each of the parties, including, without the need for an express assignment or any consent by the Company or subsequent Holders of Securities and/or Exchange Securities. The Company hereby agrees to extend the
benefits of this Agreement to any Holder of Securities and/or Exchange Securities and any such Holder may specifically enforce the provisions of this Agreement as if an original party hereto. 

(e) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(f) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning
hereof. 
 (g) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF
NEW YORK (WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS THEREOF). 
 (h) Severability. In the event that any one of more of the
provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions hereof shall not be in any way impaired or affected thereby, it being intended that all the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law. 

(i) Securities Held by the Company, etc. Whenever the consent or approval of Holders of a specified percentage of principal amount of
Securities or Exchange Securities is required hereunder, Securities or Exchange Securities, as applicable, held by the Company or its Affiliates (other than subsequent Holders of Securities or Exchange Securities if such subsequent Holders are
deemed to be Affiliates solely by reason of their holdings of such Securities or Exchange Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 

 

  
 17 

 Please confirm that the foregoing correctly sets forth the agreement between the Company and you.

  

			
	Very truly yours,
	
	LOCKHEED MARTIN CORPORATION
		
	By:	 	/s/ John W. Mollard 
	Name:  John W. Mollard
	Title:    Vice President and Treasurer

  
  
  

 

			
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

	
	 CREDIT AGRICOLE SECURITIES (USA) INC.

		
	By:	 	/s/ Mike Kendrot
		 	Name:  Mike Kendrot
		 	Title:    Head of DCM Origination, Americas

			
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

		
		 	GOLDMAN SACHS & CO. LLC
		
	By:	 	/s/ Daniel Young
		 	Name:  Daniel Young
		 	Title:    Managing Director

			
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

	
	 MIZUHO SECURITIES USA LLC

		
	By:	 	/s/ Michael Saron
		 	Name:  Michael Saron
		 	Title:    Managing Director

					
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

		
		 	 UNICREDIT CAPITAL MARKETS LLC

		
	By:	 	/s/ Andy Lupo
		 	Name:	 	Andy Lupo
		 	Title:	 	 Managing Director
 President &
COO
 UniCredit Capital Markets

		
	By:	 	/s/ Tibor Valyi-Nagy
		 	Name:	 	Tibor Valyi-Nagy
		 	Title:	 	 Legal Counsel
 UniCredit Bank AG, NY
Branch

					
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

		
		 	 ANZ SECURITIES, INC.

		
	By:	 	/s/ Ami Aharon
		 	Name:	 	Ami Aharon
		 	Title:	 	Senior Vice President

					
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

		
		 	 BARCLAYS CAPITAL INC. 

		
	By:	 	/s/ Pamela Au
		 	Name:	 	Pamela Au
		 	Title:	 	Managing Director

					
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

		
		 	 LLOYDS SECURITIES INC. 

		
	By:	 	/s/ David Keller
		 	Name:	 	David Keller
		 	Title:	 	Managing Director

					
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

		
		 	 MUFG SECURITIES AMERICAS INC.

		
	By:	 	/s/ Brian Cogliandro
		 	Name:	 	Brian Cogliandro
		 	Title:	 	 Managing Director,
 Head of U.S.
Syndicate

					
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

		
		 	 RBC CAPITAL MARKETS, LLC 

		
	By:	 	/s/ Scott G. Primrose
		 	Name:	 	Scott G. Primrose
		 	Title:	 	Authorized Signatory

					
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

		
		 	 SMBC NIKKO SECURITIES AMERICA, INC. 

		
	By:	 	/s/ Yoshihiro Satake
		 	Name:	 	Yoshihiro Satake
		 	Title:	 	Managing Director

					
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

		
		 	 TD SECURITIES (USA) LLC 

		
	By:	 	/s/ Elsa Wang
		 	Name:	 	Elsa Wang
		 	Title:	 	Director

					
	 The foregoing Agreement is hereby confirmed

and accepted as of the date first above written:

		
		 	 U.S. BANCORP INVESTMENTS, INC. 

		
	By:	 	/s/ Charles P. Carpenter
		 	Name:	 	Charles P. Carpenter
		 	Title:	 	Senior Vice President

 Schedule I 

Credit Agricole Securities (USA) Inc. 
 1301 Avenue of the
Americas 
 New York, NY 10019 
 Goldman Sachs & Co.
LLC 
 200 West Street 
 New York, NY 10282 

Mizuho Securities USA LLC 
 320 Park Avenue, 12th Floor 

New York, NY 10022 
 UniCredit Capital Markets LLC 

150 East 42nd Street 
 New York, NY 10017 

ANZ Securities, Inc. 
 277 Park Avenue, 31st Floor 

New York, NY 10172 
 Barclays Capital Inc. 

745 Seventh Avenue 
 New York, NY 10019 

Lloyds Securities Inc. 
 1095 Avenue of the Americas 

34th Floor 
 New York, NY 10036 

MUFG Securities Americas Inc. 
 1221 Avenue of the Americas, 6th
Floor 
 New York, NY 10020 
 RBC Capital Markets, LLC 

Brookfield Place 
 200 Vesey Street, 8th Floor 

New York, NY 10281 
 SMBC Nikko Securities America, Inc. 

277 Park Avenue 
 New York, NY 10172 

TD Securities (USA) LLC 
 31 W. 52nd Street, 2nd Floor 

New York, NY 10019 

 U.S. Bancorp Investments, Inc. 

214 N. Tryon Street, 26th Floor 
 Charlotte, NC 28202

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