Document:

The First Amendment to the Revolving Credit Facility Credit Agreement

 Exhibit 10.32 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 This First Amendment to Credit
Agreement, dated as of March 29, 2012 (this “Amendment”), is entered into by and among THE FINISH LINE, INC., an Indiana corporation (“Parent”), THE FINISH LINE USA, INC., an Indiana corporation, THE FINISH
LINE DISTRIBUTION, INC., an Indiana corporation, FINISH LINE TRANSPORTATION CO., INC., an Indiana corporation, SPIKE’S HOLDING, LLC, an Indiana limited liability company (each, a “Borrower” and collectively, the
“Borrowers”), the several financial institutions party hereto as Lenders, and PNC BANK, NATIONAL ASSOCIATION, in its capacity as administrative agent (the “Administrative Agent”). 

BACKGROUND 
 A. The Borrowers, the Administrative Agent and the financial institutions party thereto as Lenders have entered into that certain Credit Agreement, dated as of February 18, 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) pursuant to which the Administrative Agent and Lenders have extended to Borrowers a revolving line of credit in the initial maximum principal
amount of $50,000,000 with an option to increase the maximum principal amount thereof to $100,000,000. 
 B. Parent desires to
retain The Gart Companies, Inc. to manage the business of The Running Specialty Group, LLC, an Indiana limited liability company (“Runco”), a wholly owned subsidiary of Parent. In furtherance of retaining the services of The Gart
Companies, Inc. Parent will, or will cause Runco, to (i) enter into a Contribution Agreement (the “Contribution Agreement”) with GCPI SR LLC, a Delaware limited liability company (“GCPI”), and Gart Capital Partners
Ltd., a Colorado limited liability company (“Gart Capital”) pursuant to which, among other things, GCPI will contribute $10 million in cash for capital membership interests, (ii) amend and restate the existing Operating
Agreement of Runco (as amended, restated, supplemented or otherwise modified from time to time, the “Runco LLC Agreement”), to, among other things, evidence the issuance of membership interests to GCPI and Gart Capital,
(iii) enter into a management agreement with The Gart Companies, Inc., and (iv) enter into various other shared services and operational agreements as may be necessary to further the joint venture (collectively, the “Runco Joint
Venture”). 
 C. In connection with entering into the Runco Joint Venture and the Runco LLC Agreement, Parent shall
make a loan to GCPI in the principal amount of $4,000,000 (the “Gart Loan”) which loan shall (i) be evidenced by that certain Loan Agreement and Senior Secured Promissory Note, each dated as of March 29, 2012 (the
“Gart Note”), (ii) be secured by all right, title and interest of GCPI in and to Runco and (iii) bear interest at the Applicable Federal Rate for medium-term loans. GCPI shall contribute the proceeds of the Gart Loan to
Runco as its initial capital contribution thereto. 
 D. In connection with entering into the Runco Joint Venture and the Runco
LLC Agreement, Parent desires to enter into that certain Loan Agreement, dated as of March 29, 2012 (the “Parent-Runco Loan Agreement”), by and between Runco, as borrower, and Parent, as lender, pursuant to which Parent will
make available to Runco unsecured revolving loans in the principal amount of $52,000,000 and a contingent working capital line of credit in 

 
the principal amount of $8,000,000 (the “Parent-Runco Credit Facility” and together with the Runco Joint Venture and the Gart Loan, the “Runco Transactions”).

 E. Borrowers, the Administrative Agent and the Lenders party hereto desire to amend the Credit Agreement to permit the Runco
Transactions. 
 F. The Administrative Agent and the Lenders party hereto are willing and have agreed to consent to the
foregoing and to amend the Credit Agreement under the terms of this Amendment as set forth herein. 
 NOW, THEREFORE, in
consideration of the foregoing and intending to be legally bound, and incorporating the above-defined terms herein, the parties hereto agree as follows: 
 1. Recitals; Capitalized Terms. The foregoing recitals are true and correct and incorporated herein by reference. Unless otherwise defined herein, capitalized terms used herein shall have the
meanings given to them in the Credit Agreement. 
 2. Amendment. The Credit Agreement is hereby amended as follows (such
amendments to be effective as of the date of this Agreement): 
 (a) Added Definitions. Section 1.1 is amended by
inserting the following definitions in proper alphabetical order in such section: 
 “Gart Capital” means Gart
Capital Partners Ltd., a Colorado limited liability company. 
 “Gart Loan” means that certain loan in the
principal amount not to exceed $4,000,000 at any time, provided by Parent to GCPI pursuant to the Gart Note and the other agreements, instruments and other documents executed and delivered in connection therewith and secured by all right, title and
interest of GCPI in and to Runco. 
 “Gart Note” means that certain Senior Secured Promissory Note by GCPI in
favor of Parent, in form and substance satisfactory to the Administrative Agent and a copy of which has been provided to the Administrative Agent and secured by all right, title and interest of GCPI in and to Runco. 

“GCPI” means GCPI SR LLC, a Colorado limited liability company. 

“Parent-Runco Credit Facility” means that certain unsecured revolving line of credit in the principal amount not to
exceed $52,000,000 at any time, and that certain contingent revolving line of credit in the principal amount not to exceed $8,000,000 at any time, provided by Parent to Runco pursuant to the Parent-Runco Loan Agreement and the other agreements,
instruments and other documents executed and delivered in connection therewith, in form and substance satisfactory to the Administrative Agent and copies of which have been provided to the Administrative Agent. 

  
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 “Parent-Runco Loan Agreement” means that certain Loan Agreement, dated as
of March 29, 2012, by and between Runco, as borrower, and Parent, as lender, in form and substance satisfactory to the Administrative Agent. 
 “Runco” means The Running Specialty Group, LLC, an Indiana limited liability company. 
 “Runco Acquisitions” means The Running Specialty Group Acquisitions 1, LLC, an Indiana limited liability company. 
 “Runco LLC Agreement” means that certain Amended and Restated Operating Agreement, dated as of March 29, 2012, by and among Parent, GCPI and Gart Capital, as amended, restated,
supplemented or otherwise modified from time to time, in form and substance satisfactory to the Administrative Agent and a copy of which has been provided to the Administrative Agent. 

“Runco Joint Venture” means the Joint Venture entered into by and among Parent, GCPI and Gart Capital pursuant to the
terms set forth in the Runco LLC Agreement. 
 “Runco Transactions” means, collectively, the transactions
contemplated by the Parent-Runco Credit Facility, the Runco Joint Venture and the Gart Loan. 
 (b) Amended Definitions.
The definition of “Excluded Subsidiaries” is amended by adding the following sentence immediately following the first sentence of such definition. 
 “Runco and Runco Acquisitions also shall be Excluded Subsidiaries under this Agreement.” 
 (c) Section 8.2.4. Section 8.2.4 is amended by (i) renumbering clause (v) of such section as clause (vii), (ii) deleting the word “and” where it appears at the
end of clause (iv) of such section and (iii) inserting the following as new clauses (v) and (vi) of such section: 
 “(v) Investments by Parent in GCPI made pursuant to and evidenced by the Gart Note in an aggregate amount not to exceed $4,000,000; 

(vi) Investments made by Parent in Runco pursuant to the Parent-Runco Credit Facility in an aggregate amount not to exceed $60,000,000;
and” 
 (d) Section 8.2.5. Section 8.2.5 is amended by (i) renumbering clause (iii) of such
section as clause (iv) and (ii) inserting the following as new clause (iii) immediately following the clause “warrants or other rights to purchase such Capital Stock,”: 

“(iii) dividends and other distributions payable to the members of Runco pursuant to the terms of the Runco LLC Agreement and
dividends and 

  
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other distributions payable to the members of Runco Acquisition, a wholly owned subsidiary of Runco,” 
 (e) Section 8.2.7. Section 8.2.7 is amended by (i) renumbering clause (vii) of such section as clause (viii) and changing the reference in such clause from clause
(vi) to clause (vii), (ii) deleting the word “or” where it appears at the end of clause (vi) of such section and (iii) inserting the following as new clause (vii) of such section: 

“(vii) sales and issuances of the membership interests in Runco to GCPI and Gart Capital made in connection with the consummation of
the Runco Joint Venture; or” 
 (f) Section 8.2.9. Section 8.2.9 is amended by (i) deleting the word
“and” where it appears before the beginning of clause (iv) of such section, (ii) adding the following clause immediately following the words “up to 65% of the equity interests of such Subsidiary” found in clause
(iv) of such section: 
 “; and (v) Runco and Runco Acquisitions.” 

and (iii) deleting the last sentence of such section and replacing it with the following: 

“Each of the Loan Parties shall not become or agree to become a party to a Joint Venture other than the Runco Joint Venture.”

 (g) Section 8.2.11. Section 8.2.11 is amended by adding the following immediately after the words
“other than to the Parent or to any other Loan Party”: 
 “; provided however that nothing herein shall prohibit
Runco from issuing membership interests to its members in connection with the consummation of the Runco Joint Venture” 

(h) Section 8.2.12. Section 8.2.12 is amended by adding the following immediately after the words “obtaining the
prior written consent of the Required Lenders”: 
 “; provided however that nothing herein shall prohibit Parent and
Runco from amending and restating Runco’s limited liability company agreement in connection with the consummation of the Runco Joint Venture” 
 (i) Section 8.2.13. Section 8.2.13 is amended by adding the following immediately after the words “Administrative Agent or the Lenders”: 

“other than any restrictions or prohibitions on the granting of Liens on Runco’s assets or membership interests that may be
contained in the Runco LLC Agreement or the Parent-Runco Loan Agreement” 
 (j) Section 8.2.17.
Section 8.2.17 is amended by deleting clause (7) of such section in its entirety and replacing it with the following: 

  
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 “(7) customary provisions in joint venture agreements and other similar agreements
relating solely to the securities, assets and revenues of such joint venture or other business venture and the provisions of the Runco LLC Agreement;” 
 (k) Schedule 6.1.2. Schedule 6.1.2 is amended and restated as provided on Exhibit A attached hereto. 
 3. Consent. Each Lender hereby consents to the Runco Transactions. Each Lender hereby consents to Runco and Runco Acquisitions not becoming a Guarantor under the Agreement and acknowledge that
Runco and Runco Acquisitions shall not be deemed a Loan Party under the Agreement. 
 4. Conditions to Effectiveness. The
amendments contained in this Amendment shall become effective upon each of the following conditions being satisfied to the satisfaction of the Administrative Agent: 
 (a) Execution and Delivery of this Amendment. The Borrowers, the Guarantors, the Lenders and the Administrative Agent shall have executed and delivered this Amendment. 

(b) Execution and Delivery of the Gart Note. A copy of the executed Gart Note, together with the notes and any other agreements
executed in connection therewith, shall be delivered to the Administrative Agent. 
 (c) Execution and Delivery of Runco Loan
Agreement. A copy of the executed Parent Runco Loan Agreement, together with the notes and other agreements executed in connection therewith, shall be delivered to the Administrative Agent. 

(d) Execution and Delivery of the Runco LLC Agreement. A copy of the executed Runco LLC Agreement shall be delivered to the
Administrative Agent. 
 (e) Officer’s Certificate. There shall be delivered to the Administrative Agent for the
benefit of each Lender a certificate, dated the date hereof and signed by an Authorized Officer certifying that (w) all representations and warranties of the Loan Parties set forth in the Credit Agreement are true and correct, (x) the Loan
Parties are in compliance with each of the covenants and conditions hereunder, and (y) no Event of Default or Potential Default exists. 
 (f) Secretary’s Certificate. There shall be delivered to the Administrative Agent for the benefit of each Lender a certificate, dated the date hereof and signed by the Secretary, an Assistant
Secretary or Authorized Officer of each Loan Party, certifying as appropriate as to: 
 (i) all action taken by
such party in connection with this Amendment and the other documents executed and delivered in connection herewith, together with authorizing resolutions on behalf of each of the Loan Parties evidencing same; 

(ii) the names of the officer or officers authorized to sign this Amendment and the other documents executed and delivered
in connection herewith and the true signatures of such officer or officers and specifying the Authorized Officers permitted to 

  
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act on behalf of the Loan Parties for purposes of the Loan Documents and the true signatures of such officers, on which the Administrative Agent and each Lender may conclusively rely; and

 (iii) copies of its organizational documents, including its certificate of incorporation, bylaws, certificate
of limited partnership, partnership agreement, certificate of formation and limited liability company agreement, in each case as in effect on the date hereof, certified by the appropriate state official where such documents are filed in a state
office together with certificates from the appropriate state officials as to the continued existence and good standing of the Loan Party in each state where organized or qualified to do business; provided, however, that the Loan Parties may, in lieu
of delivering copies of the foregoing organizational documents and good standing certificates, certify that the organizational documents and good standing certificates previously delivered by the Loan Parties to the Administrative Agent remain in
full force and effect and have not been modified, amended, or rescinded. 
 (g) Consents and Approvals. No consent,
approval, exemption, order or authorization of, or a registration or filing with, any Official Body or any other Person is required by any Law or any agreement in connection with the execution, delivery and carrying out of this Amendment by any Loan
Party other than such consents, approvals, exemptions, orders or authorizations that have already been obtained. 
 5.
Confirmation of Guaranty. Each Guarantor confirms that they have read and understand the Amendment. In order to induce the Lenders to enter into the Amendment, each Guarantor: (i) consents to the Amendment and the transactions
contemplated thereby; (ii) ratifies and confirms each of the Loan Documents to which it is a party; (iii) ratifies, agrees and confirms that it has been a Guarantor at all times since it became a Guarantor and from and after the date
hereof, the Guarantor shall continue to be a Guarantor in accordance with the terms of the Loan Documents, as the same may be amended in connection with the Amendment and the transactions contemplated thereby; and (iv) hereby ratifies and
confirms its obligations under each of the Loan Documents (including all exhibits and schedules thereto), as the same may be amended in connection with the Amendment and the transactions contemplated thereby, by signing below as indicated and hereby
acknowledges and agrees that nothing contained in any of such Loan Documents is intended to create, nor shall it constitute an interruption, suspension of continuity, satisfaction, discharge of prior duties, novation or termination of the
indebtedness, loans, liabilities, expenses, guaranty or obligations of the Borrower or such Guarantor under the Credit Agreement or any other such Loan Document. 
 6. Miscellaneous. 
 (a) Representations and Warranties. By its
execution and delivery hereof to the Administrative Agent, each of the Loan Parties represents and warrants to the Administrative Agent and the Lenders that such Loan Party has duly authorized, executed and delivered this Amendment. 

  
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 (b) Full Force and Effect. All provisions of the Credit Agreement remain in full
force and effect on and after the date hereof except as expressly amended hereby. The parties do not amend any provisions of the Credit Agreement except as expressly amended hereby. 

(c) Counterparts. This Amendment may be signed in counterparts (by facsimile transmission or otherwise) but all of such
counterparts together shall constitute one and the same instrument. 
 (d) Incorporation into Credit Agreement. This
Amendment (including all Schedules and Exhibits) shall be incorporated into the Credit Agreement by this reference. All representations, warranties, Events of Default and covenants set forth herein shall be a part of the Credit Agreement as if
originally contained therein. 
 (e) Governing Law. This Amendment and the rights and obligations of the parties
hereunder shall be governed by, and construed in accordance with, the laws of the State of Indiana without regard to its conflict of laws principles. 
 (f) Payment of Fees and Expenses. The Borrowers unconditionally agree to pay and reimburse the Administrative Agent and save the Administrative Agent harmless against liability for the payment of
all reasonable out-of-pocket costs, expenses and disbursements of the Administrative Agent, including, without limitation, the reasonable fees and expenses of counsel incurred by the Administrative Agent in connection with the development,
preparation, execution, administration, interpretation or performance of this Amendment and all other documents or instruments to be delivered in connection herewith. 
 (g) No Novation. Except as amended hereby, all of the terms and conditions of the Credit Agreement and the other Loan Documents shall remain in full force and effect. The Borrowers, the Guarantors,
each Lender, and the Administrative Agent acknowledge and agree that this Amendment is not intended to constitute, nor does it constitute, a novation, interruption, suspension of continuity, satisfaction, discharge or termination of the obligations,
loans, liabilities, or indebtedness under the Credit Agreement or the other Loan Documents. 
 [SIGNATURE PAGES FOLLOW]

  
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 [SIGNATURE PAGE TO FIRST AMENDMENT TO CREDIT AGREEMENT] 

IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written. 

 

			
	BORROWERS:
	
	THE FINISH LINE, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	THE FINISH LINE USA, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	THE FINISH LINE DISTRIBUTION, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	FINISH LINE TRANSPORTATION CO, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SPIKE’S HOLDING, LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	AS TO SECTIONS 5 AND 6:
	
	GUARANTORS:
	
	THE FINISH LINE MA, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	ADMINISTRATIVE AGENT AND LENDERS:
	
	PNC BANK, NATIONAL ASSOCIATION, as a Lender and as Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	BANK OF AMERICA, N.A., as a Lender and as Syndication Agent
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JPMORGAN CHASE BANK, N.A., as a Lender
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	FIFTH THIRD BANK, as a Lender
		
	By:	 	  

	Name:	 	
	Title:	 	

 Exhibit A 
 Schedule 6.1.2 
 The Finish Line USA, Inc. 

The Finish Line Distribution, Inc. 
 Finish Line
Transportation Co., Inc. 
 Spike’s Holding, LLC 
 The Finish Line MA, Inc. 
 The Running Specialty Group, LLC 

The Running Specialty Group Acquisitions 1, LLC [Indirect sub. - Direct sub. of TRSG, LLC]Form of Actuant Corporation Change in Control Agreement

 Exhibit 10.1 
 ACTUANT CORPORATION 
 CHANGE IN CONTROL AGREEMENT 

FOR 

[            ] 

This Agreement is made as of
                            , 2012 (the “Effective Date”), between Actuant Corporation (the
“Corporation”), a Wisconsin corporation and                 (the “Executive”). 

WHEREAS, the Executive is a valued employee of the Corporation; and 

WHEREAS, on December 15, 2008, the Corporation and the Executive entered into a Change in Control Agreement (the “Prior
Agreement”); and 
 WHEREAS, the Executive wishes to remain an employee of the Corporation; and 

WHEREAS, Corporation and Executive desire to enter into this revised Change in Control Agreement (the “Agreement”) that
supersedes the Prior Agreement. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the
Executive and the Corporation agree as follows: 
 1. Employment and Duties. The Corporation hereby
continues to employ Executive as                 , with all powers and authority as are customary to this position, and Executive hereby accepts such continued
employment with the Corporation in accordance with the terms and conditions set forth herein. Executive shall have such executive responsibilities as is customary with this position and as the
Corporation’s                 shall from time to time assign to him. Executive agrees to devote Executive’s full time (excluding annual vacation time), skill,
knowledge, and attention to the business of the Corporation and the performance of Executive’s duties under this Agreement. 
 2. Termination, Bonus, and Severance Pay. 
 (a) As used in
this Agreement, a Change in Control means: 
 (i) the date that any one person, or more than one person acting as
a group (as defined in paragraph (i)(5)(v)(B) of Treasury Regulation Section 1.409A-3(i)(5)), acquires ownership of stock of the Corporation that, together with stock held by such person or group, constitutes more than 50 percent of the total
fair market value or total voting power of the stock of the Corporation, determined in accordance with Treasury Regulation Section 1.409A-3(i)(5), other than in a public offering; or 

 (ii) the date that any one person, or more than one person acting as a group
(as determined in paragraph (i)(5)(v)(B) of Treasury Regulation Section 1.409A-3(i)(5)), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from the
Corporation that have a total gross fair market value equal to or more than 40 percent of the total gross fair market value of all of the assets of the Corporation immediately before such acquisition (“gross fair market value” for these
purposes meaning the value of the assets of the Corporation, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets); or 

(iii) the date that any one person, or more than one person acting as a group (as determined under paragraph (i)(5)(v)(B)
of Treasury Regulation Section 1.409A-3(i)(5)), acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the Corporation possessing 30 percent or
more of the total voting power of the stock of the Corporation; or 
 (iv) the election of directors constituting
a majority of the Board pursuant to a proxy solicitation not recommended by the Board. 
 (b) As used in this
Agreement, a Triggering Event means: 
 (i)(A) a material reduction in the base salary paid to the Executive or
(B) a material reduction in Executive’s bonus opportunity or (C) a material reduction in the total aggregate value of the fringe benefits received by the Executive from the levels received by the Executive at the time of a Change in
Control or during the 180 day period immediately preceding the Change in Control; or 
 (ii) a material
diminution in the Executive’s authority, responsibilities or duties or a material diminution in the authority, duties, or responsibilities of the supervisor to whom the Executive is required to report (including a requirement that an Executive
report to an officer or employee of the Corporation instead of reporting directly to the Board) from the levels existing at the time of a Change in Control or during the 180 day period immediately preceding the Change in Control; or 

(iii) a change in the location or headquarters where the Executive is normally expected to provide services to a location
of 40 or more miles from the previous location existing at the time of the Change in Control or during the 180 day period immediately preceding the Change in Control; or 

(iv) the Corporation’s material breach of its obligations under this Agreement. 

Notwithstanding the foregoing, a Triggering Event will not be deemed to have occurred until the Executive has provided notice to the
Corporation of the existence of the Triggering Event within 45 days of the initial existence of the Triggering Event, upon the notice of which the Corporation must be provided a period of at least 180 days during which it may remedy the Triggering
Event condition and not be required to pay the amount described in subsection 2(c) below (the “Triggering Event Notice Period”). 

  
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 (c) If the Corporation terminates Executive’s employment within the
period beginning six months prior to a Change in Control and ending 24 months following a Change in Control or Executive voluntarily terminates Executive’s services following a Triggering Event that occurs within 24 months following the date of
a Change in Control, the Corporation shall pay to the Executive a lump sum equal to the sum of (A) twice the amount of the highest per annum base rate of salary in effect with respect to the Executive during the two-year period immediately prior to
the termination of employment plus (B) twice the amount of the highest annual bonus or annual incentive compensation earned by the Executive under any annual cash bonus or annual incentive compensation plan of the Corporation (for the avoidance
of doubt, such amount shall not take into account any compensation earned under any long-term incentive plan of the Corporation) during the three complete fiscal years of the Corporation immediately preceding the termination of employment. Such lump
sum shall be paid by the Corporation to the Executive within twenty days after the Executive’s termination of employment, or, in the event of a voluntary termination due to a Triggering Event, within twenty days after the expiration of the
Triggering Event Notice Period where the Corporation has not remedied the Triggering Event condition in accordance with subsection 2(b) above. In addition, the Corporation, at the Corporation’s cost, shall continue to provide Executive with the
welfare benefits and other perquisites Executive was receiving at the time of the Change in Control for a period of two years following Executive’s termination of employment or until such earlier date as Executive becomes employed by another
employer and becomes eligible for welfare benefits. For purposes hereof, perquisites will include the Executive’s right to lease a car or a car allowance, as the case may be. The amount of expenses eligible for reimbursement, or in-kind
perquisites provided, during an Executive’s taxable year may not affect the expenses eligible for reimbursement, or in-kind perquisites to be provided, in any other taxable year. Any reimbursement of an eligible expense must be made on or
before the last day of the Executive’s taxable year following the taxable year in which the expense was incurred. The right to reimbursement or in-kind perquisites may not be subject to liquidation or exchange for another benefit. 

(d) Notwithstanding any provision herein, no amounts will be due under this Agreement in the event the Executive’s
employment is terminated by the Corporation for cause. The term “for cause” shall mean solely the following events: 
 (i) conviction, or a plea of guilty or no contest, of a felony; 

(ii) conviction, or a plea of guilty or no contest, of a crime involving dishonesty, disloyalty or fraud; 

(iii) reporting to work under the influence of alcohol; 

(iv) the use of illegal drugs (whether or not at the workplace); 

  
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 (v) conviction, or a plea of guilty or no contest, of conduct in conjunction
with Executive’s duties hereunder which could reasonably be expected to, or which does, cause the Corporation or any of its affiliates public disgrace or disrepute or economic harm; 

(vi) repeated failure to perform duties as reasonably directed by the Board or CEO (or the person to whom Executive
directly reports); 
 (vii) gross negligence or willful misconduct with respect to the Corporation; 

(viii) obtaining any personal profit not thoroughly disclosed to and approved in writing by the Board or CEO in connection
with any transaction entered into by, or on behalf of, the Corporation or its affiliates; 
 (ix) violation of
any of the terms of the Corporation’s or any of its affiliates’ established policies which is not cured to the Board’s reasonable satisfaction within twenty (20) working days after you receive written notice thereof; or

 (x) any other material breach of this Agreement by you which is not cured to the Board’s reasonable
satisfaction within twenty (20) working days after you receive written notice thereof. 
 (e)
Notwithstanding anything to the contrary set forth in this Section 2 or elsewhere in this Agreement, any payments made: 
 (i) within 2- 1/2 months of the end of the Corporation’s taxable year containing the Executive’s severance from employment, or 

(ii) within
2- 1/2 months of the Executive’s taxable year
containing the severance from employment shall be exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations thereunder. Payments subject to subparagraphs (i) or (ii) shall be
treated and shall be deemed to be an entitlement to a separate payment within the meaning of Section 409A of the Code and the regulations thereunder. 
 To the extent payments under this Agreement are not exempt from Section 409A under subparagraphs (i) or (ii) above: 

(iii) any payments made in the first 6 months following the Executive’s termination from employment that are equal to
or less than the lesser of the amounts described in Treasury Regulation Section 1.409A-1(b)(9)(iii)(A)(1) and (2) shall be exempt from Section 409A. Payments subject to this subparagraph (iii) shall be treated and shall be deemed
to be an entitlement to a separate payment within the meaning of Section 409A of the Code and the regulations thereunder. 

  
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 To the extent payments under this Agreement are not exempt from Section 409A under
subparagraphs (i), (ii) or (iii) above: 
 (iv) any payments made equal to or less than the applicable
dollar amount under Section 402(g)(1)(B) of the Code for the year of severance from employment shall be exempt from Section 409A in accordance with Treasury Regulation Section 1.409A-1(b)(9)(v)(D). Payments subject to this
subparagraph (iv) shall be treated and shall be deemed to be an entitlement to a separate payment within the meaning of Section 409A of the Code and the regulations thereunder. 

To the extent payments under this Agreement are not exempt from Section 409A under subparagraphs (i), (ii), (iii) or
(iv) above, and to the extent the Executive is a “specified employee” (as defined below): 
 (v)
payments due to the Executive under Section 2 shall begin no sooner than six months after the Executive’s severance from employment (other than for Death); provided, however, that any payments not made during the six (6) month period
described in this subsection 2(e) due to the 6-month delay period required under Treasury Regulation Section 1.409A-3(i)(2) shall be made in a single lump sum as soon as administratively practicable after the expiration of such six
(6) month period, and the balance of all other payments required under this Agreement shall be made as otherwise scheduled in this Agreement. 
 (f) For purposes of this Section 2, any reference to severance of employment or termination of employment shall mean a “separation from service” as defined in Treasury Reg.
Section 1.409A-1(h). For purposes of this Agreement, the term “specified employee” shall have the meaning set forth in Treasury Reg. Section 1.409A-1(i). 
 3. Excise Tax Adjustment. 
 (a) Subject to the provisions of
this Section 3, in the event it is determined that all or any part of the severance benefits payable to Executive under this Agreement or any other payments or benefits payable to Executive under any other agreement with, or plan or policy of,
Corporation (the “Total Payments”) will, as determined by Corporation, be subject to the tax (the “Excise Tax”) imposed by Code Section 4999 (or any similar tax that may hereafter be imposed), then such payment shall be
either: (i) provided to Executive in full, or (ii) provided to Executive to such lesser extent as would result in no portion of such payment being subject to such Excise Tax, whichever of the foregoing amounts, when taking into account
such Excise Tax, results in the receipt by Executive of the greatest amount of the payment, notwithstanding that all or some portion of such payment may be taxable under such Excise Tax. To the extent such payment needs to be reduced pursuant to the
preceding sentence, reductions shall come from taxable amounts before non-taxable amounts and beginning with the payments otherwise scheduled to occur soonest. Executive agrees to cooperate fully with Corporation to determine the benefits applicable
under this Section 3. 

  
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 (b) For purposes of determining whether any of the Total Payments will be
subject to the Excise Tax, and the amounts of such Excise Tax, the following shall apply: 
 (i) Any
payments or benefits received or to be received by Executive in connection with a Change in Control or Executive’s termination of employment (whether pursuant to the terms of this Agreement or any other plan, policy, arrangement or agreement
with Corporation, or with any person whose actions result in a Change in Control or any person affiliated with Corporation or such persons) shall be treated as “parachute payments” within the meaning of Code Section 280G(b)(2), and
all “excess parachute payments” within the meaning of Code Section 280G(b)(1) shall be treated as subject to the Excise Tax, unless in the opinion of Corporation such other payments or benefits (in whole or in part) do not constitute
parachute payments, or unless such excess parachute payments (in whole or in part) represent reasonable compensation for services actually rendered within the meaning of Code Section 280G(b)(4) in excess of the base amount within the meaning of
Code Section 280G(b)(3), or are otherwise not subject to the Excise Tax. 
 (ii) The value of any noncash
benefits or any deferred payment or benefit shall be determined in accordance with the principles of Code Sections 280G(d)(3) and (4). 
 4. Confidential Information. As a supplement to any other confidentiality provisions applicable to the Executive, Executive acknowledges that all Confidential Information is and shall continue to
be the exclusive proprietary property of the Corporation, whether or not disclosed to or entrusted to the custody of Executive. Executive will not, either during the term hereof or at any time thereafter, disclose any Confidential Information, in
whole or in part, to any person or entity other than to employees or affiliates of the Corporation, for any reason or purpose, unless the Corporation gives its prior written consent to such disclosure. Executive also will not, either during the term
hereof or at any time thereafter, use in any manner any Confidential Information for Executive’s own purposes or for the benefit of any person or entity except the Corporation and its affiliates whether such use consists of duplication,
removal, oral communication, disclosure, transfer or other unauthorized use thereof, unless the Corporation gives its prior written consent to such use. As used herein, the term “Confidential Information” refers to all information and
materials not in the public domain belonging to, used by or in the business of the Corporation (the “Business”) relating to its business strategies, products, pricing, customers, technology, programs, costs, employee compensation,
marketing plans, developmental plans, computer programs, computer systems, inventions, developments, formulae, processes, designs, drawings, trade secrets of every kind and character and competitive information. “Confidential Information”
also includes confidential information belonging to other companies and disclosed to the Executive by the Corporation. 
 5.
Non-competition and Inventions. 
 (a) During the period of employment of Executive and for a period of
one year after Executive’s termination of employment for any reason, Executive shall not directly or indirectly as a principal, agent, owner, employee, consultant, advisor, trustee, beneficiary, distributor, partner, co-venturer, officer,
director, stockholder or in any other capacity, nor will any entity owned by Executive: 

  
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 (i) divert or attempt to divert any business from the Corporation or engage
in any act likely to cause any customer or supplier of the Corporation to discontinue or curtail its business with the Corporation or to do business with another entity, firm, business, activity or enterprise directly or indirectly competitive with
the Corporation; or 
 (ii) contact, sell or solicit to sell or attempt to contact, sell or solicit to sell
products competitive to those sold by the Corporation to any customer of the Corporation with which Executive had contact while performing services for the Corporation; or 

(iii) solicit or attempt to solicit any employee of the Corporation for employment or retention. 

Notwithstanding the provisions above, Executive may acquire securities of any entity the securities of which are publicly traded, provided
that the value of the securities of such entity held directly or indirectly by Executive immediately following such acquisition is less than 5% of the total value of the then outstanding class or type of securities acquired. 

(b) Executive acknowledges and agrees that the restrictions set forth in this Section 5 are founded on valuable
consideration and are reasonable in duration and geographic area in view of the circumstances under which this Agreement is executed and that such restrictions are necessary to protect the legitimate interests of the Corporation. If, in any judicial
proceeding, a court shall refuse to enforce any separate covenant set forth herein, then such unenforceable covenant shall be deemed eliminated from this Section 5 for the purpose of that proceeding to the extent necessary to permit the
remaining separate covenants to be enforced. 
 (c) The Executive hereby sells, transfers and assigns to the
Corporation the entire right, title and interest of the Executive in and to all inventions, ideas, disclosures and improvements, whether patented or unpatented, and copyrightable materials, made or conceived by the Executive, solely or jointly, or
in whole or in part, during the period Executive is bound by this Agreement which (i) relate to methods, apparatus, designs, products, processes or devices sold, leased, used or under construction or development by the Corporation or any
subsidiary or (ii) otherwise relate to or pertain to the business, functions or operations of the Corporation or any subsidiary, or (iii) arise (wholly or partly) from the efforts of the Executive during the Term hereof in connection with
Executive’s performance of Executive’s duties hereunder. The Executive shall communicate promptly and disclose to the Corporation, in such form as the Corporation requests, all information, details and data pertaining to the aforementioned
inventions, ideas, disclosures and improvements; and, whether during the term hereof or thereafter, the Executive shall execute and deliver to the Corporation such formal transfers and assignments and such other papers and documents as may be
required of the Executive to permit the Corporation to file and prosecute the patent applications and, as to 

  
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copyrightable material, to obtain copyright thereon. This provision does not relate to any invention (i) for which no equipment, supplies, facilities or trade secret information of the
Corporation was used and which was developed entirely on the Executive’s own time and which does not relate (A) directly to the business of the Corporation, or (B) to the Corporation’s actual or demonstrably anticipated research
or development; or (ii) which does not result from any work performed by the Executive for the Corporation. 

(d) The provisions in this Section are a supplement to any other confidentiality and non-compete provisions applicable to
the Executive in any other agreements. 
 6. Miscellaneous. 

(a) This Agreement shall be governed by and construed in accordance with the internal laws of the State of Wisconsin,
without reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended or modified otherwise than by a written agreement executed
by the parties hereto or their respective successors and legal representatives. 
 (b) All notices and other
communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

If to the Executive, to Executive’s address appearing on the records of the Corporation. 

If to the Corporation: 
         Actuant Corporation 

        N86 W12500 Westbrook Crossing 

        Menomonee Falls, WI 53051 

        Attention: Chairman of the Audit Committee 

With a copy to: 
         McDermott Will & Emery LLP 
         227 West Monroe Street 

        Chicago, IL 60606 

        Attention: Helen R. Friedli 

or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and communications
shall be effective when actually received by the addressee. 
 (c) The invalidity or unenforceability of any
provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 

  
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 (d) The Corporation may withhold from any amounts payable under this
Agreement such federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
 (e) The Executive’s or the Corporation’s failure to insist upon strict compliance with any provisions of this Agreement or the failure to assert any right the Executive or the Corporation may
have hereunder, including, without limitation, the right of the Executive to terminate employment for cause pursuant to this Agreement, shall not be deemed to be a waiver of such provision or right or of any other provision or right of this
Agreement. 
 (f) The Executive and the Corporation acknowledge that, except as may otherwise be provided herein
or under any other written agreement between the Executive and the Corporation, the employment of the Executive by the Corporation is “at will” and the Executive’s employment may be terminated by the Corporation at any time.

 (g) The Corporation agrees that if it breaches any payment obligation hereunder, the Corporation will pay all
reasonable attorney fees and costs incurred by Executive in enforcing Executive’s rights hereunder. 
 (h)
This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. 

(i) If the Corporation sells, leases, exchanges or otherwise disposes of, in a single transaction or series of related
transactions, all or substantially all of its property and assets, or if the Corporation ceases to exist as a separate entity as a result of a merger, spin-off, reorganization or otherwise, then the Corporation will, as a condition precedent to any
such transaction, cause effective provision to be made so that the person or entity acquiring such property and assets or succeeding to the business of the Corporation as the surviving entity of a merger, spin-off, reorganization or otherwise, as
applicable, becomes bound by, and replaces the Corporation under, this Agreement. 
 7. Injunctive Relief. Executive
acknowledges and agrees that irreparable injury will result to the Corporation in the event Executive breaches any covenant contained in this Agreement and that the remedy at law for such breach will be inadequate. Therefore, if Executive engages in
any act in violation of the provisions of this Agreement, the Corporation shall be entitled, in addition to such other remedies and damages as may be available to it by law or under this Agreement, to injunctive or other equitable relief to enforce
the provisions hereof. 
 8. Prior Agreements. This Agreement supersedes any and all prior Change in Control agreements
between the Executive and the Corporation, including the Prior Agreement, which agreements are hereby terminated and of no further force or effect. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above
written. 
  

							
	EXECUTIVE:	 		 		 	ACTUANT CORPORATION:
				
	 	 		 		 	By:                             
                                         
                                         
    
	[            ]	 		 		 	Title:                            
                                         
                                         
  

  
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