Document:

Exhibit 10.16

 

EXECUTION VERSION

 

STOCKHOLDERS AGREEMENT

 

AMONG

 

UFI ACQUISITION, INC.

 

AND

 

THE STOCKHOLDERS NAMED HEREIN

 

March 18, 2013

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	Section 1.	 	Definitions	1
	Section 2.	 	Restrictions on Transfer; Preemptive Rights	7
	(a)	 	Prohibited Transfers	7
	(b)	 	Right of First Refusal	7
	(c)	 	Tag-Along Rights	8
	(d)	 	Preemptive Rights to the Stockholders	11
	Section 3.	 	Additional Restrictions on Transfer of Stockholder Shares	12
	(a)	 	Legends	12
	(b)	 	Opinion of Counsel	12
	(c)	 	Competitors	12
	(d)	 	Consideration	13
	(e)	 	Cooperation	13
	Section 4.	 	Drag-Along Rights; Sale of the Company	14
	Section 5.	 	Election of Directors; Voting; Certain Consent Rights	15
	(a)	 	Board of the Company	15
	(b)	 	Stock Inventive Plan	18
	(c)	 	Expenses	18
	(d)	 	No Representation	18
	Section 6.	 	Public Offerings; Transactions; Registration Rights	18
	(a)	 	Performance by Stockholders	18
	(b)	 	Market Standoff	18
	(c)	 	Registration Rights	19
	(d)	 	D&O Insurance	22
	Section 7.	 	Stockholders	22
	(a)	 	Limitation on Liability	22
	(b)	 	Business Transactions Involving a Stockholder or Affiliate of a Stockholder	22
	(c)	 	Confidentiality	23
	(d)	 	Certain Stockholder Rights	23
	(e)	 	Subdebt Investor; Lender	24
	Section 8.	 	Binding Effect; Joinders; Additional Shares	24
	(a)	 	Delivery of Joinders	24

 

    	 

    	 

    

 

	(b)	 	Issuance of Additional Capital Stock	24
	(c)	 	Issuance to Employee Stockholders	25
	(d)	 	Additional Stockholders	25
	Section 9.	 	Representations and Warranties; No Conflicting Agreements	25
	Section 10.	 	Further Assurances	25
	Section 11.	 	Termination	25
	(a)	 	Termination of Agreement Generally	25
	(b)	 	Termination as to a Stockholder	26
	Section 12.	 	Repurchase Rights	26
	Section 13.	 	General Provisions	27
	(a)	 	Amendment, Waiver and Release	27
	(b)	 	Severability	27
	(c)	 	Entire Agreement	28
	(d)	 	Successors and Assigns	28
	(e)	 	Counterparts; Facsimile; Pdf	28
	(f)	 	Remedies	28
	(g)	 	Notices	28
	(h)	 	Governing Law	29
	(i)	 	Jurisdiction and Venue	29
	(j)	 	Descriptive Headings	30
	(k)	 	Construction	30
	(l)	 	Nouns and Pronouns	30
	(m)	 	Nature of Obligations	30
	(n)	 	Waiver of Jury Trial	30

 

    	 

    	 

    

 

STOCKHOLDERS AGREEMENT

 

This Stockholders Agreement
(this “Agreement”) is made effective as of March 18, 2013, by and among (a) UFI Acquisition, Inc., a Delaware
corporation (the “Company”), (b) the Persons (as defined below) identified on Schedule A hereto as the
“Founding Investors” (such Persons, collectively, the “Taglich Founding Investors”), (c) the Persons
identified on Schedule A hereto under the heading “Management Founding Investors” (such Persons, collectively,
the “Management Founding Investors”), (d) the Persons identified on Schedule A hereto under the heading “Taglich
Equity Investors” (such Persons, collectively, the “Taglich Equity Investors”), (e) The Peninsula
Fund V Limited Partnership, a Delaware limited partnership (“Lender”), and (f) the Person(s) who execute a Joinder
Agreement (as defined below) from time to time pursuant to this Agreement. The Taglich Founding Investors and the Management Founding
Investors are referred to herein collectively as the “Founding Investors”.

 

RECITALS

 

The Stockholders (as
defined below) desire to set forth their understanding and agreement concerning the ownership and management of the Company and
their respective rights and obligations with respect thereto.

 

AGREEMENTS

 

NOW, THEREFORE, in
consideration of the foregoing, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree
as follows:

 

Section 1.          Definitions.

 

As used in this Agreement,
the following terms shall have the meanings ascribed to them below:

 

“Affiliate”
means, with respect to any Person, any other Person that, directly or indirectly, through one or more intermediaries, controls,
or is controlled by, or is under common control with, another Person. The term “control” includes, without limitation,
the possession, directly or indirectly, of the power to direct the management and policies of a Person, whether through the ownership
of voting securities, by contract or otherwise.

 

“Approved
Sale” means a proposed Sale of the Company that is approved by the holders of at least a majority of the then outstanding
Founders Stock.

 

“Board”
means, with respect to the Company or any Subsidiary of the Company, the board of directors of the Company or the board of directors,
board of managers or other equivalent governing body of such Subsidiary, as applicable.

 

“Common Stock”
means the Company’s common stock, par value $.001 per share.

 

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“Common Stock
Equivalent” means a share of Common Stock or the right to acquire, whether or not immediately exercisable, one (1) share
of Common Stock, whether evidenced by an option, warrant, convertible security or other instrument or agreement.

 

“Company”
has the meaning set forth in the caption to this Agreement.

 

“Company Asset
Sale” means a sale of all or substantially all of the assets of the Company determined on a consolidated basis that is
approved by the Board of the Company, subject to Section 7(d).

 

“Company Charter”
means the Certificate of Incorporation of the Company, as amended, supplemented, or otherwise modified from time to time.

 

“Competitor”
means any Person (including a Permitted Transferee of any Person) that owns, manages or operates any line of business that manufactures,
markets or sells products that are the same as or similar to those of the Company or any Subsidiary of the Company as determined
in good faith by the Board of the Company.

 

“Confidential
Information” has the meaning set forth in Section 7(c).

 

“Designated
Stockholder” has the meaning set forth in Section 8(c).

 

“Directors”
has the meaning set forth in Section 5(a)(ii).

 

“Distributions”
means all distributions made by the Company to any Stockholder, whether in cash, property, or securities of the Company and whether
by dividend, redemption, repurchase, liquidating distributions or otherwise; provided that none of the following events
shall be considered a Distribution: (i) any redemption or repurchase by the Company of Common Stock pursuant to Section 12
of this Agreement or pursuant to a stock option or restricted stock purchase agreement approved by the Board of the Company, or
(ii) any recapitalization, subdivision (including stock dividends and stock splits), combination (including reverse stock splits)
or exchange of Common Stock which is approved by the Board of the Company including the Special Taglich Director.

 

“Employee
Stockholder” has the meaning set forth in Section 8(c).

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Excluded
Securities” has the meaning set forth in Section 2(d)(i).

 

“Financier”
has the meaning set forth in Section 12(c).

 

“Founders
Stock” refers to any of the Stockholder Shares that the Founding Investors purchased at $0.50 per share, which are subject
to the repurchase right set forth in Section 12.

 

“Founding
Investors” has the meaning set forth in the caption to this Agreement.

 

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“Fully Diluted
Basis” means, in the case of any calculation of the number of shares of Common Stock deemed outstanding, that effect
is first given to (A) all shares of Common Stock outstanding at the time of determination, (B) all shares of Common Stock issuable
upon the exercise of any option, warrant or other right outstanding at the time of determination (other than unvested stock options),
and (C) all shares of Common Stock issuable upon the exercise of any conversion or exchange right contained in any security outstanding
at the time of determination that is convertible into or exchangeable for shares of Common Stock.

 

“Implied Share
Value” means, with respect to any tag-along sale or drag-along sale, the consideration per Stockholder Share stated in
the proposed sale notice or, if not so stated, the per Stockholder Share price based on the aggregate purchase price and the number
of Stockholder Shares being purchased, as reasonably determined in good faith by the Board of the Company.

 

“Initial Offering”
means the Company’s first firm commitment underwritten public offering of its Common Shares registered under the Securities
Act.

 

“Initiating
Stockholder” has the meaning set forth in Section 2(c)(ii).

 

“Joinder Agreement”
has the meaning set forth in Section 8(a).

 

“Lender”
has the meaning set forth in the caption to this Agreement.

 

“Management
Director” has the meaning set forth in Section 5(a)(ii)(C).

 

“Management
Founding Investors” has the meaning set forth in the caption to this Agreement.

 

“Market Standoff
Period” has the meaning set forth in Section 6(b).

 

“Note Purchase
Agreement” means the Note Purchase Agreement dated as of the date hereof, among the Company, Unique Fabricating, Inc.
and Lender, as in effect from time to time.

 

“Offered Shares”
has the meaning set forth in Section 2(b)(i).

 

“Offering
Stockholder” has the meaning set forth in Section 2(b)(i).

 

“Offeror”
has the meaning set forth in Section 2(b)(i).

 

“Percentage
Interest” means the percentage obtained by dividing the number of outstanding shares of Common Stock held by a Stockholder
by the total number of shares of Common Stock outstanding.

 

“Permitted
Transfer” has the meaning set forth in Section 2(a).

 

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“Permitted
Transferee” means, with respect to any Stockholder, (i) an Affiliate of such Stockholder, (ii) any of the lawful issue
of such Stockholder, (iii) the spouse or estate of such Stockholder, (iv) any trust, partnership, custodianship or other fiduciary
account established for the exclusive benefit of such Stockholder or Permitted Transferee, (v) any member, partner, shareholder
or other equityholder of such Stockholder, (vi) in the case of any Taglich Founding Investor, any employee of Taglich Brothers,
Inc., and (vii) subject to the prior written approval of the Board of the Company, in the case of a Stockholder who owns, in the
aggregate, less than twenty five thousand (25,000) Stockholder Shares (as such number of Stockholder Shares may be adjusted for
splits, reverse stock splits, stock dividends, share combinations and the like), a transferee of Stockholder Shares owned by such
Stockholder. Additionally, “Permitted Transferee” shall include, in the case of Lender, (A) while its Subdebt
Note is outstanding, the purchaser of all or a portion of Lender’s Subdebt Shares in connection with and as part of a purchase
of all or a related portion of Lender’s right, title and interest in and to such Subdebt Note and related Subdebt Shares,
and (B) once its Subdebt Note has been repaid in full, the purchaser of all Subdebt Shares held by Lender as a result of Lender’s
liquidation of its entire investment interest in the Company, provided that (x) in the case of clause (i), the Transfer of the
Subdebt Note is permitted under the Subdebt Agreement, and (y) in the case of clauses (i) and (ii), (1) the transferee is not a
Stockholder of or an Affiliate of the Company, and (2) the transferee is not, in the good faith judgment of the Board of the Company,
a Competitor. For the avoidance of doubt, no Transfer to a Permitted Transferee shall be effective or valid under Section 2
of this Agreement unless and until the transferee executes and delivers to the Company a Joinder Agreement in accordance with Section
8(a) of this Agreement.

 

“Person”
shall be construed broadly and shall include, without limitation, an individual, a partnership, an investment fund, a limited liability
company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental
entity or any department, agency or political subdivision thereof.

 

“Preemptive
Offer” has the meaning set forth in Section 2(d)(i).

 

“Preemptive
Offer Period” has the meaning set forth in Section 2(d)(i).

 

“Proposed
Sale Notice” has the meaning set forth in Section 2(c)(ii).

 

“Public Sale”
means any sale of Stockholder Shares as part of a Qualified Public Offering or through a broker, dealer or market maker pursuant
to Rule 144 after a Qualified Public Offering.

 

“Qualified
Public Offering” means the closing of a firm commitment underwritten initial public offering of the Company’s Common
Stock pursuant to an effective registration statement under the Securities Act which results in aggregate cash proceeds to the
Company of at least $15 million (net of underwriting discounts and commissions).

 

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“Registration
Expenses” means all expenses (other than Selling Expenses) incurred by the Company in complying with Section 6(c),
including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel for the Company,
reasonable fees and disbursements of a single special counsel for the Stockholders, blue sky fees and expenses, fees and expenses
of underwriters (excluding discounts, commissions or fees of underwriters, selling brokers, deal managers or similar securities
industry professionals attributable to the securities being registered pursuant to Section 6(c)), and the expense of any
special audits incident to or required by any such registration (but excluding the compensation of regular employees of the Company
which shall be paid in any event by the Company).

 

“Regulation
D” means Regulation D promulgated by the Securities and Exchange Commission pursuant to the Securities Act, or any successor
rules and regulations thereto, as the same may be amended or supplemented from time to time.

 

“ROFR Offer”
has the meaning set forth in Section 2(b)(i).

 

“ROFR Offer
Period” has the meaning set forth in Section 2(b)(i).

 

“Rule 144”
means Rule 144 promulgated by the Securities and Exchange Commission pursuant to the Securities Act, or any successor rules thereto,
as the same may be amended or supplemented from time to time.

 

“Sale of the
Company” means a Company Asset Sale or a Transfer for value (in a sale or exchange of securities of the Company or in
a merger, consolidation or issuance, recapitalization, reorganization or other business combination or any similar transaction)
of more than 50% of the Stockholder Shares then outstanding.

 

“Securities
Act” means the Securities Act of 1933, as the same may be amended or supplemented from time to time, or any successor
statute, and the rules and regulations thereunder, as the same are from time to time in effect.

 

“Selling Expenses”
means all underwriting discounts, selling commissions and similar discounts relating to underwriters or commissions related to
sales, in each case, applicable to the sale of Common Stock.

 

“Selling Stockholders”
has the meaning set forth in Section 2(c)(iv).

 

“Special Taglich
Director” has the meaning set forth in Section 5(a)(ii)(A).

 

“Stock Incentive
Plan” means a stock option or incentive plan or similar agreement approved by the Board of the Company, including the
Taglich Directors.

 

“Stock Purchase
Agreement” means the Stock Purchase Agreement, dated as of the date hereof, between the Company and Lender, as in effect
from time to time.

 

“Stockholders”
means the holders of shares Common Stock, the names and signatures of which appear on the signature pages or a Joinder Agreement.

 

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“Stockholder
Shares” means (i) any Common Stock now owned or hereafter purchased or otherwise acquired by any Stockholder, and (ii)
any equity securities issued or issuable directly or indirectly with respect to the Common Stock referred to in clauses (i) above
by way of stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation
or other reorganization. As to any particular shares constituting Stockholder Shares, such shares will cease to be Stockholder
Shares when they have been sold through a Public Sale.

 

“Subdebt Agreement”
collectively means the Note Purchase Agreement and the Stock Purchase Agreement, each as in effect from time to time.

 

“Subdebt Directors”
has the meaning set forth in Section 5(a)(ii)(B).

 

“Subdebt Investor”
means, collectively, Lender and its transferees, successors and assigns.

 

“Subdebt Note”
means the $11,500,000 promissory note issued to Lender under the Subdebt Agreement.

 

“Subdebt Shares”
means 350,000 shares of Common Stock issued to Lender pursuant to the Subdebt Agreement.

 

“Subsidiary”
means any corporation of which a Person owns securities having a majority of the ordinary voting power in electing the board of
directors directly or through one (1) or more subsidiaries.

 

“Tag-Along
Notice” has the meaning set forth in Section 2(c)(iii).

 

“Tag-Along
Offerees” has the meaning set forth in Section 2(c)(ii).

 

“Tag-Along
Period” has the meaning set forth in Section 2(c)(iii).

 

“Tag-Along
Securities” has the meaning set forth in Section 2(c)(ii).

 

“Taglich Investors”
means, collectively, the Taglich Equity Investors and the Taglich Founding Investors.

 

“Taglich Equity
Investors” has the meaning set forth in the caption to this Agreement.

 

“Taglich Founding
Investors” has the meaning set forth in the caption to this Agreement.

 

“Taglich Directors”
has the meaning set forth in Section 5(a)(ii)(A).

 

“Transfer”
means the direct or in direct sale, transfer, pledge (other than a pledge in favor of the Company and/or its Affiliate(s)), hypothecation,
gift, conveyance, assignment or other disposition (whether with or without consideration and whether voluntarily or involuntarily
or by operation of law) of any interest in any Stockholder Shares. “Transferee” shall have a correlative meaning.

 

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“Transfer
Notice” has the meaning set forth in Section 2(b)(i).

 

Section 2.            Restrictions
on Transfer; Preemptive Rights.

 

(a)          Prohibited
Transfers. No Stockholder shall Transfer any of his, her or its Stockholder Shares or any securities convertible into or exercisable
for Stockholder Shares owned by him, her or it except in accordance with the terms of this Agreement; provided, however,
that a Stockholder may Transfer Stockholder Shares to a Permitted Transferee at any time (such Transfer, a “Permitted
Transfer”). Any purported Transfer other than pursuant to this Agreement shall be null and void and of no effect whatsoever.
No Transfer of Stockholder Shares shall be effective or valid under this Section 2 unless and until the transferee executes
and delivers to the Company a Joinder Agreement in accordance with Section 8(a) hereof. Anything herein to the contrary
notwithstanding, the Taglich Founding Investors shall not Transfer any of their Stockholder Shares (other than in connection with
an Approved Sale) without the written consent of the Subdebt Investor if such Transfer could cause the Taglich Founding Investors
to lose or impair their rights under Section 7(d) hereof.

 

(b)          Right
of First Refusal.

 

(i)          If
any Stockholder or group of Stockholders (collectively, the “Offering Stockholder”) receives a bona fide offer
(“ROFR Offer”) to purchase in one (1) or a series of related transactions less than 15% of the then outstanding
Stockholder Shares (such Stockholder Shares, the “Offered Shares”) from any third party other than a Permitted
Transferee of the Offering Stockholder (such third party, the “Offeror”) that the Offering Stockholder wishes
to accept, then the Offering Stockholder shall cause the ROFR Offer to be reduced to writing and shall provide a notice (the “Transfer
Notice”) to the Company and each of the other holders of Stockholder Shares, which Transfer Notice shall be accompanied
by a true and correct copy of the ROFR Offer (identifying all material terms, including, but not limited to, the Offeror, the Offered
Shares, the price contained in the ROFR Offer and all the other material terms and conditions of the ROFR Offer). The Transfer
Notice shall constitute an irrevocable offer to sell all or any portion of the Offered Shares to the Company within forty-five
(45) days of receipt by the Company of the Transfer Notice; provided that such period may be extended to the extent required
to obtain necessary regulatory approvals (the “ROFR Offer Period”). During the ROFR Offer Period, the Company
shall have the exclusive right and option to purchase all or any portion of the Offered Shares at a price equal to the price set
forth in the Transfer Notice. If the Company fails or determines not to purchase all of the Offered Shares during the first thirty
(30) days of the ROFR Offer Period, the Transfer Notice shall be deemed to constitute an irrevocable offer to sell to the holders
of Stockholder Shares other than the Offering Stockholder (pro rata, based on each Stockholder’s Percentage Interest calculated
exclusive of all Stockholder Shares owned by the Offering Stockholder), during the remainder of the ROFR Offer Period, such number
of Offered Shares not determined to be purchased by the Company. During the remainder of the ROFR Offer Period, such other Stockholders
(pro rata, based on each Stockholder’s Percentage Interest calculated exclusive of all Stockholder Shares owned by
the Offering Stockholder) shall have the exclusive right and option to purchase all or any portion of the Offered Shares at a price
equal to the price set forth in the Transfer Notice. If any Stockholder fails or determines not to purchase all or a portion of
the number of Offered Shares which such Stockholder may purchase pursuant to this Section 2(b), then the other holders of
Stockholder Shares so exercising their rights under this Section 2(b) shall be entitled to purchase such Offered Shares
(pro rata, based on each Stockholder’s Percentage Interest at the time held by such Stockholders who elect to purchase such
Offered Shares, or as otherwise agreed by them).

 

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(ii)         If,
during the ROFR Offer Period, the Company and/or any holders of Stockholder Shares have accepted the offer contained in the Transfer
Notice, the closing of the purchase of such Offered Shares shall take place at the principal offices of the Company no later than
the last day of the ROFR Offer Period. At such closing, the Company and the purchasing Stockholders, as applicable, shall deliver
immediately available federal funds by wire transfer or by certified check or checks calculated at the price set forth in the Transfer
Notice to the Offering Stockholder against delivery of certificates and/or other instruments representing the Offered Shares, together
with appropriate transfer powers duly endorsed with respect to the Offered Shares, or legally binding written assignments thereof,
free and clear of all liens (other than pursuant to securities laws and this Agreement and as otherwise provided in the Transfer
Notice). All of the foregoing deliveries shall be deemed to be made simultaneously and none shall be deemed completed until all
have been completed.

 

(iii)        If,
during the ROFR Offer Period, the offer contained in the Transfer Notice in writing has not been accepted by the Company and/or
the holders of Stockholder Shares as to all the Offered Shares covered thereby, or prior to the expiration of the ROFR Offer Period
the closing has not occurred, then during the next forty-five (45) days, provided that such period may be extended to the extent
required to obtain necessary regulatory approvals, the Offering Stockholder may sell the Offered Shares to the Offeror at the price
and on the other terms no more favorable to the Offering Stockholder than those contained in the Transfer Notice; provided that
the Offeror shall have executed and delivered a Joinder Agreement in accordance with Section 8(a) hereof. Promptly after
any sale pursuant to this Section 2(b), the Offering Stockholder shall furnish such evidence of the completion (including
time of completion) of such sale and of the terms thereof as the Company and/or the holders of Stockholder Shares may reasonably
request. If the Offering Stockholder has not completed the sale of the Offered Shares during the applicable period referred to
above, such Offering Stockholder shall no longer be permitted to sell such Offered Shares pursuant to this Section 2(b)
without again fully complying with the provisions of this Section 2(b).

 

(iv)         The
provisions of this Section 2(b) shall not apply to any Transfers pursuant to Section 2(c) or Section 4 hereof.

 

(c)          Tag-Along
Rights.

 

(i)          No
Stockholder shall Transfer any Stockholder Shares to a third party (other than a Permitted Transferee) in one (1) or a series of
related transactions without complying with the terms and conditions set forth in Section 2(b) or this Section 2(c).

 

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(ii)         If
any holder or group of holders of Stockholder Shares (collectively, the “Initiating Stockholder”) intends to
Transfer 15% or more of the then outstanding Stockholder Shares in one (1) or a series of related transactions, then such Initiating
Stockholder shall give not less than thirty (30) days prior written notice of such intended Transfer to each other holder of Stockholder
Shares (the “Tag-Along Offerees”) and to the Company. Such notice (the “Proposed Sale Notice”)
shall set forth the terms and conditions of such proposed Transfer, including the name of the prospective transferee, the number
of Stockholder Shares proposed to be transferred (the “Tag-Along Securities”) by the Initiating Stockholder,
the maximum and minimum aggregate purchase price proposed to be paid therefor (or, if not in cash, the proposed consideration)
and the payment terms and type of Transfer to be effectuated. The Proposed Sale Notice shall also confirm that the prospective
transferee has been informed of the tag-along right provided for in this Section 2(c) and has agreed to purchase Stockholder
Shares in accordance with the terms of this Section 2(c) and that the Initiating Stockholder has agreed to consummate the
Transfer, subject only to any required regulatory approvals and the provisions of this Agreement.

 

(iii)        Within
twenty (20) days following the delivery of the Proposed Sale Notice (the “Tag-Along Period”) by the Initiating
Stockholder to each Tag-Along Offeree and to the Company, each Tag-Along Offeree shall, by notice in writing to the Initiating
Stockholder and to the Company (the “Tag-Along Notice”), have the opportunity and right to sell to the purchasers
in such proposed Transfer (upon the same terms and conditions as the Initiating Stockholder, subject to the last sentence of this
Section 2(c)(iii)) up to that number of Stockholder Shares at the time held by such Tag-Along Offeree as shall equal the
product of (i) a fraction, the numerator of which is the number of Stockholder Shares owned by such Tag-Along Offeree as of the
date of the Proposed Sale Notice, and the denominator of which is the aggregate number of Stockholder Shares owned by all Tag-Along
Offerees as of the date of such Proposed Sale Notice, multiplied by (ii) the number of Stockholder Shares proposed to be transferred
in the Proposed Sale Notice. Each holder of Stockholder Shares that does not deliver a Tag-Along Notice to the Initiating Stockholder
and the Company within the Tag-Along Period shall be deemed to have waived all of such Stockholder’s rights under this Section
2(c) with respect to inclusion of such Stockholder’s Stockholder Shares in such proposed Transfer. The purchase price
to be received by the Tag-Along Offerees shall be determined on the basis of the Implied Share Values.

 

(iv)         The
Initiating Stockholder, subject to the participation of the Tag-Along Offerees that have validly delivered a Tag-Along Notice (the
“Selling Stockholders”), if any, shall have the right, for a period of one hundred eighty (180) days after the
expiration of the Tag-Along Period (or for such longer period of time as may be required to obtain any final regulatory approvals,
which the Initiating Stockholder agrees to use its commercially reasonable efforts to obtain) to Transfer the Stockholder Shares
specified in the Proposed Sale Notice assuming an aggregate purchase price no greater than the maximum (and no less than the minimum)
aggregate purchase price set forth in the Proposed Sale Notice and on other principal terms that are not materially more favorable
to the Initiating Stockholder and the Selling Stockholders than those set forth in the Proposed Sale Notice.

 

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(v)          In
the event that the prospective transferee does not agree to purchase, or does not purchase, each Selling Stockholder’s Stockholder
Shares specified in any Tag-Along Notice on substantially the same terms and conditions (subject to the last sentence of Section
2(c)(iii)), then the Initiating Stockholder shall not be permitted to Transfer its Stockholder Shares to the prospective transferee
unless the Initiating Stockholder purchases each Selling Stockholder’s Stockholder Shares specified in any Tag-Along Notice
on substantially the same terms and conditions as specified in the applicable Proposed Sale Notice.

 

(vi)         The
offer of each Selling Stockholder contained in such Selling Stockholder’s Tag-Along Notice shall be irrevocable, and, to
the extent such offer is accepted, such Selling Stockholder shall be bound and obligated to Transfer, on the same terms and conditions
as the Initiating Stockholder (subject to the last sentence of Section 2(c)(iii)), up to such amount of Stockholder Shares
as such Selling Stockholder shall have specified in such Selling Stockholder’s Tag-Along Notice; provided, however,
that (A) if the principal terms of the proposed Transfer change with the result that the aggregate purchase price is less than
the minimum aggregate purchase price set forth in the Proposed Sale Notice or the other principal terms are materially less favorable
to the Initiating Stockholder and the Selling Stockholders than those set forth in the Proposed Sale Notice, each Selling Stockholder
shall be permitted to withdraw the offer contained in such Selling Stockholder’s Tag-Along Notice and shall be released from
such Selling Stockholder’s obligations thereunder, (B) the Selling Stockholders shall be obligated to sell only the percentage
of total Stockholder Shares held by the Selling Stockholders equal to the percentage of total Stockholder Shares held by the Initiating
Stockholder being sold by the Initiating Stockholder, and (C) if, following the period of one hundred eighty (180) days after the
expiration of the Tag-Along Period (or for such longer period of time as may be required to obtain any final regulatory approvals,
which the Initiating Stockholder agrees to use its commercially reasonable efforts to obtain), the Initiating Stockholder has not
completed the proposed Transfer, each Selling Stockholder shall be released from the obligations under such Selling Stockholder’s
respective Tag-Along Notice, any related Proposed Sale Notice shall be null and void, and it shall be necessary for a separate
Proposed Sale Notice to be furnished, and the terms and provisions of this Section 2(c) separately complied with, in order
to consummate such Transfer pursuant to this Section 2(c).

 

(vii)        If,
prior to consummation, the terms of the proposed Transfer change with the result that the aggregate purchase price is greater than
the maximum aggregate purchase price set forth in any Proposed Sale Notice or the other principal terms are materially more favorable
to the Initiating Stockholder and the Selling Stockholders than those set forth in such Proposed Sale Notice, then, unless each
holder of Stockholder Shares has delivered a Tag-Along Notice, such Proposed Sale Notice shall be null and void, and it shall be
necessary for a separate Proposed Sale Notice to be furnished, and the terms and provisions of this Section 2(c) separately
complied with, in order to consummate such proposed Transfer pursuant to this Section 2(c).

 

(viii)      The
provisions of this Section 2(c) shall not apply to any Transfers pursuant to Section 4 hereof.

 

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(d)          Preemptive
Rights to the Stockholders.

 

(i)          The
Company shall not issue, sell or exchange, agree to issue, sell or exchange, or reserve or set aside for issuance, sale or exchange,
any Common Stock Equivalent (other than (A) capital stock issued in connection with a pro rata stock dividend, stock split
or recapitalization, (B) Common Stock or options to acquire shares of Common Stock of the Company issued to officers, directors,
employees of the Company or a Subsidiary pursuant to the Company’s Stock Incentive Plan, (C) securities issued upon the conversion
or exercise of any Common Stock Equivalent which was issued after compliance with this Section 2(d), (D) Common Stock or
Common Stock Equivalents issued to Persons who are not Affiliates of the Company, a Subsidiary of the Company or any of the Stockholders
as part of a bona fide investment unit (whether or not such unit is separable) that consists primarily of debt and includes an
equity “kicker”, (E) Common Stock or Common Stock Equivalents issued directly to Persons who were not then stockholders
of the Company as full or partial consideration in an acquisition by the Company or any Subsidiary of another company or business
(whether by merger, stock purchase, asset purchase or otherwise), (F) Common Stock issued in, or from and after, a Qualified Public
Offering, and/or (G) Common Stock or Common Stock Equivalents issued in connection with an Approved Sale (collectively, “Excluded
Securities”) unless the Company shall have first offered to sell to each holder of Stockholder Shares such Stockholder’s
pro rata share of such Stockholder Shares (based on each Stockholder’s Percentage Interest), at such price and on
such other terms specified by the Company in writing delivered to each such Stockholder (the “Preemptive Offer”),
which Preemptive Offer by its terms shall remain open and irrevocable for a period of twenty (20) days from the date it is delivered
by the Company (the “Preemptive Offer Period”). Each such Stockholder may elect to purchase all or any portion
of such Stockholder’s pro rata share of such Stockholder Shares as specified in the Preemptive Offer at the price
and on the terms specified therein by delivering written notice of such election to the Company within the Preemptive Offer Period.
Any such Stockholder Shares not elected to be purchased by the end of the Preemptive Offer Period shall be reoffered for a period
of ten (10) days by the Company on a pro rata basis (based on each electing Stockholder’s Percentage Interest) to
the Stockholders who have elected to purchase their pro rata shares.

 

(ii)         If
any Common Stock Equivalents (other than Excluded Securities) are being offered by the Company for payment in any form other than
cash (except other Stockholder Shares or securities of any of the Company’s Subsidiaries), any Stockholder electing to accept
such offer may pay the purchase price in cash in an amount equivalent to the fair market value of the non-cash consideration offered
(as reasonably determined by the Board of the Company in good faith) on a per-share basis.

 

(iii)        If
the holders of Stockholder Shares have not, collectively, elected to purchase all of such Stockholder Shares following the reoffer
period referred to above, then any Common Stock Equivalents not subject to such election may be offered for sale and sold by the
Company for a period of one hundred twenty (120) days from the last day of such reoffer period, but only on terms and conditions
at least as favorable to the Company as were set forth in the initial offer to the holders of Stockholder Shares. Any such Common
Stock Equivalents not so sold shall again become subject to the requirements of this Section 2(d).

 

(iv)         Notwithstanding
the requirements of this Section 2(d), if the Board of the Company determines in good faith that it would be in the best
interests of the Company to proceed with an issuance, sale or exchange, or agree to issue, sell or exchange, or reserve or set
aside for issuance, sale or exchange, any Common Stock Equivalents without compliance with this Section 2(d), the Company
may do so, other than with respect to the Subdebt Shares (in which case this Section 2(d) shall still apply).

 

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Section 3.            Additional
Restrictions on Transfer of Stockholder Shares.

 

(a)          Legends.
The certificates representing the Stockholder Shares shall bear a legend substantially in the following form:

 

THE OFFER AND SALE OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN EXEMPTION FROM REGISTRATION
THEREUNDER. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER, APPROVED SALE
PROVISIONS, VOTING PROVISIONS AND CERTAIN OTHER AGREEMENTS SET FORTH IN THE STOCKHOLDERS AGREEMENT AMONG UFI ACQUISITION, INC.
AND CERTAIN OF ITS SECURITYHOLDERS. THE HOLDER HEREOF MAY OBTAIN A COPY OF SUCH AGREEMENT WITHOUT CHARGE AT THE COMPANY’S
PRINCIPAL PLACE OF BUSINESS.

 

(b)          Opinion
of Counsel. No Stockholder may Transfer any Stockholder Shares (except pursuant to an effective registration statement under
the Securities Act), without first delivering to the Company an opinion of counsel (reasonably acceptable in form and substance
to the Company) to the effect that neither registration nor qualification under the Securities Act and applicable state securities
laws is required in connection with such Transfer.

 

(c)          Competitors.
Notwithstanding any other provision of this Agreement to the contrary, no Transfer of Stockholder Shares (other than as part of
an Approved Sale) shall be made to any Competitor or to any Person which the Stockholder actually knows (upon reasonable inquiry)
is an investor (other than a passive investor with less than 5% ownership) in a Competitor without the prior written consent of
the Board of the Company. Any proposed transferee of Stockholder Shares (other than a transferee as part of an Approved Sale and
other than as provided in the exception in the preceding sentence) shall, as a condition precedent to any Transfer, be obligated
to represent to the Company that such transferee is neither a Competitor nor an investor (whether direct, or indirect through one
(1) or more Persons controlled by such transferee) in a Competitor.

 

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(d)          Consideration.
In the event that the consideration to be paid in exchange for Stockholder Shares in any proposed Transfer pursuant to Section
2(c) or Section 4 includes any securities and the receipt thereof by any Stockholder would require under applicable
law (i) the registration or qualification of such securities or of any Person as a broker or dealer or agent with respect to such
securities, or (ii) the provision to any Stockholder of any information other than such information as a prudent issuer would generally
furnish in an offering made solely to “accredited investors” as defined in Regulation D, the Initiating Stockholder,
in the case of a proposed Transfer pursuant to Section 2(c), or the Taglich Founding Investors and/or the Company, in the
case of a proposed Transfer pursuant to Section 4, shall be obligated only to use its commercially reasonable efforts to
cause such requirements to be complied with to the extent necessary to permit such Stockholder to receive such securities, it being
understood and agreed that the Initiating Stockholder, in the case of a proposed Transfer pursuant to Section 2(c), or the
Taglich Founding Investors and/or the Company, in the case of a proposed Transfer pursuant to Section 4, shall not be under
any obligation to effect a registration of such securities under the Securities Act (or any similar statute). In furtherance of
the foregoing, the Stockholders shall, at the request of the Initiating Stockholder, in the case of a Transfer pursuant to Section
2(c), or the Taglich Founding Investors, in the case of a Transfer pursuant to Section 4, execute such documents and instruments,
and take such other actions (including appointing a purchaser representative (as such term is defined in Rule 501 promulgated under
Regulation D) reasonably acceptable to the Board of the Company (the fees of which purchaser representative shall be paid by the
Company)), as may be reasonably necessary for such requirements to be complied with. Notwithstanding the foregoing, any Stockholder
with respect to which such requirements cannot be complied with shall not be permitted to participate in any Transfer pursuant
to Section 2(c).

 

(e)          Cooperation.
Each Stockholder that Transfers Stockholder Shares pursuant to Section 2(c) or Section 4, shall, to the fullest extent
permitted by law, take or cause to be taken all such actions as may be reasonably requested in order to expeditiously consummate
each Transfer pursuant to Section 2(c) and any related transactions, including, without limitation, (i) executing, acknowledging
and delivering consents, assignments, waivers and other documents or instruments; (ii) furnishing information and copies of documents;
(iii) filing applications, reports, returns, filings and other documents or instruments with governmental authorities; (iv) making
elections relating to any adjustment of basis for tax purposes and (vi) otherwise cooperating with the Initiating Stockholder,
in the case of a proposed Transfer pursuant to Section 2(c), or the Taglich Founding Investors and/or the Company, in the
case of a proposed Transfer pursuant to Section 4, and the prospective transferee; provided, however, that
each such Stockholder shall be obligated to become liable (severally and not jointly) in respect of any representations, warranties,
covenants, indemnities or otherwise to the prospective transferee solely to the extent provided in the immediately following sentence.
Without limiting the generality of the foregoing, each such Stockholder agrees to execute and deliver such agreements as may be
reasonably requested, including, without limitation, agreements to (a) make individual representations as to the title to its Stockholder
Shares and the power, authority and legal right to transfer such Stockholder Shares to the extent such agreements are also made
by the Initiating Stockholder, and (b) be liable in respect of any purchase price escrow or adjustment provisions or reduction
in purchase price as may apply to Stockholders generally resulting from representations, warranties, covenants and indemnities
in respect of the Company to the extent that the Initiating Stockholder is also liable; provided, however, that,
(i) except with respect to individual representations, warranties, covenants, indemnities and other agreements of holders of Stockholder
Shares, the aggregate amount of such liability shall not exceed the lesser of (a) such Stockholder’s pro rata portion
of any such liability or (b) the proceeds to such Stockholder as a result of such Transfer, and (ii) with respect to individual
representations, warranties, covenants, indemnities and other agreements of holders of Stockholder Shares, the aggregate amount
of such liability shall not exceed the proceeds to such Stockholder as a result of such Transfer. In addition, each Stockholder
shall bear its pro rata share of the costs and expenses incurred in connection with such Transfer to the extent such costs
are incurred for the benefit of all Stockholders participating in such Transfer and are not otherwise paid by the Company or a
third party.

 

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(f)          At
the closing of any proposed Transfer under Section 2(c) or Section 4, each Stockholder shall deliver to the proposed
transferee certificates and/or other instruments representing the Stockholder Shares to be sold, free and clear of all liens (other
than pursuant to securities laws or this Agreement), together with transfer powers duly endorsed therefor, and shall receive in
exchange therefor the consideration to be paid or delivered by the proposed transferee in respect of such Stockholder Shares.

 

(g)          Any
Stockholder Shares acquired by a third party pursuant to Section 2(c) or Section 4 from any Stockholder shall be
held by such acquiring third party subject to the terms and conditions of this Agreement.

 

Section 4.            Drag-Along
Rights; Sale of the Company.

 

(a)          Upon
the approval by the holders of at least a majority of the then outstanding Founders Stock of a proposed Transfer for value (in
a sale or exchange of securities of the Company or in a merger, consolidation or issuance, recapitalization, reorganization or
other business combination or any similar transaction) of more than 50% of the Stockholder Shares then outstanding in one (1) or
a series of related bona fide arm’s-length transactions to a third party (other than the Company or an Affiliate of the Founding
Investors), then upon ten (10) days’ prior written notice from the Taglich Directors to the holders of Stockholder Shares
(which notice shall include reasonable details and all material terms of the proposed Transfer, including the proposed time and
place of closing and the form and amount of consideration to be received by the Stockholders), each Stockholder shall be obligated
to, and shall, Transfer and deliver, or cause to be Transferred and delivered, to such third party such Stockholder’s pro
rata portion (as defined below) of Stockholder Shares to be Transferred in the same transaction at the closing thereof, and
each such Stockholder shall receive upon the closing of such transaction the Implied Share Value with respect to the consideration
to be paid or delivered by the proposed transferee in respect of such Stockholder’s Stockholder Shares. The “pro
rata portion” of each Stockholder shall be equal to (a) (i) the number of Stockholder Shares issued to and owned by such
Stockholder, calculated on a Fully Diluted Basis, divided by (ii) the aggregate number of Stockholder Shares outstanding, calculated
on a Fully Diluted Basis, multiplied by (b) the aggregate number of Stockholder Shares proposed to be Transferred in the applicable
transaction.

 

(b)          Subject
to Section 7(d), each Stockholder agrees that, in such Stockholder’s capacity as a Stockholder of the Company and
to the extent that such Stockholder is entitled to vote thereon, such Stockholder shall vote all of such Stockholder’s Stockholder
Shares in favor of any Sale of the Company recommended by the Board of the Company if, and to the extent that, approval of the
Stockholders is required in order to effect such transaction and agrees not to exercise any appraisal or dissenters’ rights
available under any rule, regulation, statute, agreement, the Company Charter, this Agreement or otherwise.

 

(c)          Subject
to Section 7(d), each Stockholder shall consent to, and shall raise no objections against a Sale of the Company effected in
accordance with this Section 4 and recommended by the Board of the Company. If and to the extent that any Sale of the Company
requires approval of the Stockholders in connection with such Sale of the Company, then each Stockholder entitled to vote thereon
shall vote such Stockholder’s Stockholder Shares held thereby to approve such Sale of the Company.

 

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(d)          In
order to secure the obligation of each of the Stockholders to vote his, her or its Stockholder Shares and other voting securities
of the Company in accordance with the provisions of this Section 4, and for other good and valuable consideration, except
as a Stockholder may be prohibited by applicable law or regulation or, if not a natural person, by its organizational documents,
each of the Stockholders hereby appoints the Company as his, her or its true and lawful proxy and attorney-in-fact, with full power
of substitution, to vote all of its, his or her Stockholder Shares and other voting securities of the Company in favor of any Sale
of the Company pursuant to this Section 4. The Company may exercise the irrevocable proxies granted to it hereunder by action
of the Board of the Company at any time any Stockholder fails to comply with the provisions of this Agreement. The proxies and
powers granted by each of the Stockholders pursuant to this Section 4(d) are coupled with an interest and are given to secure
the performance of its, his or her obligations under this Agreement. Such proxies and powers shall be irrevocable for the term
of this Agreement and shall survive, to the extent applicable, the death, incompetence and disability of the Stockholders and the
respective holders of their securities.

 

(e)          If
the Company or the holders of the Company’s securities enter into any negotiation or transaction for which Regulation D may
be available with respect to such negotiation or transaction (including a merger, consolidation or other reorganization), each
Stockholder shall, at the request of the Company, appoint a purchaser representative (as such term is defined in Rule 501 promulgated
under Regulation D) reasonably acceptable to the Company. If any Stockholder appoints a purchaser representative designated by
the Company, the Company shall pay the fees of such purchaser representative, but if any Stockholder declines to appoint the purchaser
representative designated by the Company, such Stockholder shall appoint another purchaser representative, and such Stockholder
shall be responsible for the fees of the purchaser representative so appointed.

 

Section 5.            Election
of Directors; Voting; Certain Consent Rights.

 

(a)          Board
of the Company. The business of the Company shall be managed by the Board of the Company.

 

(i)          Subject
to the provisions of this Agreement that require the consent or approval of one (1) or more Stockholders, the Board of the Company
shall have full and exclusive authority, power and discretion to manage and control the business, affairs and properties of the
Company, to make all decisions regarding those matters and to perform any and all other acts or activities customary or incident
to the management of Company business, unless otherwise provided in the Act, the Company Charter or this Agreement. Except as expressly
provided herein, the vote of a majority of the Directors shall be required to approve or effect any action or transaction on behalf
of the Company.

 

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(ii)         The
Board of the Company shall initially consist of seven (7) Persons (each such Person, along with any other Persons appointed from
time to time, the “Directors”). Subject to Section 7(d), the number of Directors may be changed from
time to time by resolution of the Board of the Company; provided, however, that no decrease in the number of Directors
shall shorten the term of an incumbent Director. Each Director shall hold office for the term for which he or she is elected and
thereafter until his or her successor shall have been elected and qualified, or until his or her earlier death, resignation or
removal. Directors need not be Stockholders or residents of the State of Delaware.

 

(A)         For
so long as (a) the Taglich Founding Investors and their respective Affiliates and the Permitted Transferees of any of the foregoing
collectively hold not less than 75% of the Stockholder Shares held by them collectively as of the date hereof (as adjusted for
splits, reverse stock splits, stock dividends, share combinations and the like), or (b) the Taglich Founding Investors, the Taglich
Equity Investors and the respective Affiliates of any of them, and the Permitted Transferees of any of the foregoing, collectively
hold not less than a 40% Percentage Interest at any time, the Taglich Founding Investors shall have the right to appoint four (4)
Directors (the “Taglich Directors”). Richard L. Baum, Jr., William M. Cooke, Douglas E. Hailey and Donn Viola
are hereby appointed as the initial Taglich Directors. The Taglich Directors must at all times include at least one (1) of Richard
L. Baum, Jr., William M. Cooke or Douglas E. Hailey (each, in such capacity as a Taglich Director, a “Special Taglich
Director”). If any action of the Company requires the approval or consent of the Taglich Directors, the approval or consent
of a majority of the Taglich Directors (which must include the Special Taglich Director) is required.

 

(B)         For
so long as:

 

(i)
      (a) the Subdebt Investor and its Affiliates and Permitted Transferees of the foregoing hold any Subdebt Shares, and
(b) any of the Senior Subordinated Obligations (as defined in the Note Purchase Agreement) remain outstanding, then Lender shall
have the right to appoint two (2) Directors and, upon the occurrence and continuance any Event of Default specified in Section
8.1 of the Note Purchase Agreement, to appoint one (1) additional Director (a “Subdebt Additional Director”);

 

(ii)
     (a) the Subdebt Investor and its Affiliates and Permitted Transferees of the foregoing hold any Subdebt Shares, and
(b) none of the Senior Subordinated Obligations remain outstanding, then Lender shall have the right to appoint two (2) Directors;
and

 

(iii)
     (a) the Subdebt Investor and its Affiliates and Permitted Transferees of the foregoing do not hold any Subdebt Shares, and
(b) any of the Senior Subordinated Obligations remain outstanding, then Lender shall have the right to appoint one (1) Director
and, upon the occurrence and continuance any Event of Default specified in Section 8.1 of the Note Purchase Agreement, to appoint
one (1) additional Director.

 

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The rights of Lender
pursuant to this Section 5(a)(ii)(B) are not Transferable to any Transferee, whether or not such Transferee is an Affiliate
or a Permitted Transferee of Lender. Any Director referred to in this Section 5(a)(ii)(B) is referred to herein as a “Subdebt
Director”. James Illikman and Kimberly Korth are hereby appointed as the initial Subdebt Directors.

 

(C)         Except
in the event that Lender is entitled to be appoint a Subdebt Additional Director pursuant to Section 5(a)(ii)(B)(i) (in
which case this Section 5(a)(iii)(C) shall not apply), one (1) Director shall be the individual who, at the time in question,
is the Chief Executive Officer of the Company’s Subsidiary, Unique Fabricating, Inc., for as long as he or she serves in
such capacity (the “Management Director”). The Management Director shall initially be John Weinhardt.

 

(iii)        Any
Taglich Director may be removed from the Board of the Company at any time at the direction of the holders of a majority in interest
of the Stockholder Shares collectively held by the Taglich Founding Investors and the Taglich Equity Investors; provided
that, unless death or disability prevents such, at all times there must remain at least one (1) Special Taglich Director. Any Director
position to be filled by reason of a vacancy occurring in the Board of the Company other than by reason of an increase in the number
of Directors may be filled by a Person appointed by the holders of a majority in interest of the Stockholder Shares collectively
held by the Taglich Founding Investors and the Taglich Equity Investors (if the position vacated had been that of a Taglich Director).

 

(iv)         Any
Subdebt Director may be removed from the Board of the Company at any time at by the affirmative vote of the holders of a majority
in interest of the Subdebt Shares collectively held by the Subdebt Investor. Any Director position to be filled by reason of a
vacancy occurring in the Board of the Company other than by reason of an increase in the number of Directors may be filled by a
Person appointed by the affirmative vote of holders of a majority in interest of the Subdebt Shares collectively held by the Subdebt
Investor (if the position vacated had been that of a Subdebt Director).

 

(v)          Any
Management Director shall be removed from the Board of the Company upon his or her resignation or removal from the office of Chief
Executive Officer of the Company’s Subsidiary, Unique Fabricating, Inc.

 

(vi)         Any
Director position to be filled by reason of an increase in the number of Directors or because the right to appoint a Director pursuant
to Section 5(a)(ii)(A), (B) and/or (C) does not apply may be filled by election at a meeting of the Board of the
Company called for that purpose. A Person elected to fill a vacancy occurring other than by reason of an increase in the number
of Directors shall be elected for the unexpired term of his predecessor in office. Any Director may resign at any time. Such resignation
shall be made in writing and shall take effect at the time specified therein, or if no time be specified, at the time of its receipt
by the remaining Directors. The acceptance of a resignation shall not be necessary to make it effective, unless expressly so provided
in the resignation.

 

(vii)        Each
Director shall be required to devote such time to the affairs of the Company as the Board of the Company reasonably determines
may be necessary or appropriate in connection with the management and operation of the Company.

 

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(viii)          The Stockholders
shall be obligated to take all necessary steps to vote in favor of the election of the Directors designated by the applicable designating
Stockholder or Stockholders and to take all necessary steps to vote in favor of the removal of a Director designated by the applicable
designating Stockholder or Stockholders.

 

(ix)            The Stockholders
agree to cast their votes for, or give their written consent to, the removal of a Director from the Board of the Company at any
time upon receipt of instructions in writing to such effect, signed by the Stockholder(s) entitled to designate that Director.

 

(b)          Stock Inventive
Plan. As of the date hereof, the Company may issue options to purchase up to 135,135 shares of Common Stock pursuant to the
Company’s “2013 Stock Incentive Plan”. The Company shall not increase the number of shares of Common Stock subject
to such Stock Incentive Plan above 135,135 shares (as adjusted for splits, reverse stock splits, stock, dividends, share combinations
and the like) or make any material change to such Stock Incentive Plan without the approval of the Board of the Company, including
the Taglich Directors and at least one (1) Subdebt Director which is a principal of Subdebt Investor.

 

(c)          Expenses.
The Company shall reimburse each Director for his or her reasonable, out-of-pocket, travel expenses incurred in attending any
meeting of its Board.

 

(d)          No Representation.
None of the parties hereto and no officer, director, shareholder, partner, employee or agent of any party makes any representation
or warranty as to the fitness or competence of the nominee of any other party hereunder to serve on the Board of the Company by
virtue of such party’s execution of this Agreement or by the act of such party in voting for any other party’s nominee
pursuant to this Agreement.

 

		Section 6.	Public Offerings; Transactions; Registration Rights.

 

(a)          Performance
by Stockholders. In the event that the Board of the Company or the holders of at least 60% of the Stockholder Shares approve
a Qualified Public Offering, the Stockholders will take such actions as may be reasonably requested thereby (consistent with the
terms hereof) or by the managing underwriters in connection with the consummation of the Qualified Public Offering; provided,
however, that nothing in this Agreement shall require a Stockholder to make any representations or warranties or provide
any indemnities in connection with a Qualified Public Offering other than with respect to the title to the Stockholder Shares being
conveyed and other customary representations and warranties given by selling stockholders with respect to themselves and their
stock (such as due authorization, absence of conflicts and the like).

 

(b)          Market
Standoff. In connection with the Company’s initial public offering of its equity securities pursuant to an effective
registration statement filed under the Securities Act, no Stockholder shall sell, make any short sale of, loan, hypothecate, pledge,
grant any option for the purchase of or otherwise dispose or Transfer for value or otherwise agree to engage in any of the foregoing
transactions with respect to any Common Stock or other securities of the Company without the prior written consent of the Company
or its underwriters, for a period not to exceed one hundred eighty (180) days after the effective date of such registration statement
(the “Market Standoff Period”). The Company may impose stop-transfer instructions with respect to securities
subject to the foregoing restrictions until the end of such Market Standoff Period. This Section 6(b) shall survive any
termination pursuant to Section 11(a)(ii).

 

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(c)          Registration
Rights.

 

(i)          Piggyback
Right. If, at any time or from time to time, the Company proposes to file a registration statement under the Securities Act
for its own account or for the account of any of its Stockholders, including, but not limited to, a registration statement relating
to a secondary offering of securities of the Company, but excluding (A) a registration statement on Form S-4 relating solely to
a transaction under Rule 145 of the Securities Act, (B) a registration statement on Form S-1 or S-8 relating to employee stock
option or purchase plans, or (C) a registration statement on any successor to such Forms S-1, S-4 and S-8, then the Company shall
notify all Stockholders in writing at least thirty (30) days prior to the filing of any such registration and will afford each
such Stockholder an opportunity to include in such registration statement all or part of the Common Stock held by such Stockholder.
Each Stockholder desiring to include in any such registration statement all or any part of the Common Stock held by him, her or
it shall, within twenty (20) days after the above described notice from the Company, so notify the Company in writing. Such notice
shall state the number of shares of Common Stock which such Stockholder requests to be included in such registration and the intended
method of disposition of the Common Stock by such Stockholder. If a Stockholder decides not to include all of his, her or its Common
Stock in any registration statement thereafter filed by the Company, such Stockholder shall nevertheless continue to have the right
to include any Common Stock in any subsequent registration statement or registration statements as may be filed by the Company
with respect to offerings of its securities, all upon the terms and conditions set forth herein. Notwithstanding the foregoing,
Common Stock shall not include any securities sold by a Person to the public either pursuant to a registration statement declared
effective pursuant to the Securities Act or under Rule 144 promulgated under the Securities Act or sold in a private transaction
in which the transferor’s rights under this Section 6(c) are not assigned.

 

(ii)         Underwritten
Offering. If the registration statement to be filed pursuant to this Section 6(c) is for an underwritten offering, the
Company shall so advise the Stockholders. In such event, the right of any such Stockholder to be included in a registration pursuant
to this Section 6(c) shall be conditioned upon such Stockholder’s participation in such underwriting and the inclusion
of such Stockholder’s Common Stock in the underwriting to the extent provided herein. All Stockholders proposing to distribute
their Common Stock through such underwriting shall enter into an underwriting agreement in customary form with the underwriter
or underwriters selected for such underwriting by the Company and approved by a majority in interest of the Stockholders participating
in such registration pursuant to this Section 6(c). No such Stockholder shall be required in any such underwriting agreement
to make any representations or warranties to or agreements with the Company or the underwriters (other than customary representations,
warranties or agreements regarding such Stockholder’s title to Common Stock and any written information provided by the Stockholder
to the Company expressly for inclusion in the related registration statement) or to undertake any indemnification obligations to
the Company with respect thereto broader than the provisions of Section 6(c)(ix) hereof. If any Stockholder disapproves
of the terms of any such underwriting, such Stockholder may elect to withdraw therefrom by written notice to the Company and the
underwriter, delivered no later than ten (10) business days prior to the effective date of the registration statement, after which
such Stockholder’s commitment shall become irrevocable.

 

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(iii)        Cutback.
Notwithstanding any other provision of this Agreement, in connection with a public offering pursuant to a registration statement
filed in accordance with this Section 6(c), if a managing underwriter determines in good faith that marketing factors require
a limitation of the number of shares of Common Stock to be underwritten, the number of shares of Common Stock that may be excluded
from the underwriting shall be first allocated fully among persons not contractually entitled to registration rights under this
Agreement on a pro rata basis, and second, among the Stockholders on a pro rata basis based on the total number of
shares of Common Stock held by such Stockholders requested to be included in such registration. No such reduction shall (A) reduce
the securities being offered by the Company for its own account to be included in the registration and underwriting, or (B) reduce
the amount of securities of the selling Stockholders included in the registration below 25% of the total amount of securities included
in such registration, unless such offering is the Company’s Initial Offering and such registration does not include Common
Stock of any other selling Stockholder, in which event any or all of the Common Stock of the holders thereof may be excluded in
accordance with the immediately preceding sentence. In no event shall Common Stock of any Person (other than a Stockholder) be
included in such registration which would reduce the number of shares of Common Stock which may be included by Stockholders without
the written consent of Stockholders of not less than a majority of the Common Stock proposed to be sold in the offering. Any Common
Stock excluded or withdrawn from such underwriting shall be excluded and withdrawn from the registration. For any Stockholder that
is a partnership or corporation, the partners, retired partners and stockholders of such Stockholder, or the estates and family
members of any such partners and retired partners and any trusts for the benefit of any of the foregoing persons, shall be deemed
to be a single holder, and any pro rata reduction with respect to such holder shall be based upon the aggregate amount of
Common Stock carrying registration rights owned by all entities and individuals included in such holder, as defined in this sentence.

 

(iv)        Right
to Terminate Registration. Notwithstanding the foregoing, the Company shall have the right to terminate or withdraw any registration
initiated by it prior to the effectiveness of such registration whether or not any Stockholder has elected to include Common Stock
in such registration.

 

(v)         Expenses
of Registration. Except as specifically provided herein, all Registration Expenses incurred in connection with any registration,
qualification or compliance pursuant to this Section 6(c) shall be borne by the Company. All Selling Expenses incurred in
connection with any registrations pursuant to this Section 6(c) shall be borne by the holders of the securities so registered
pro rata on the basis of the number of shares of Common Stock so registered.

 

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(vi)        Termination
of Registration Rights; Delay of Registration; Information. The registration rights contained in this Section 6(c) shall
terminate upon the earliest to occur of (A) the written agreement of the Company, the Stockholders holding a majority of the Common
Stock then outstanding, and the Subdebt Investor; (B) seven (7) years following the closing of an Initial Offering; (C) such date
that all Common Stock may immediately be sold pursuant to Rule 144 promulgated under the Securities Act; or (D) a sale of all or
substantially all of the assets of the Company. No Stockholder shall have any right to obtain or seek an injunction restraining
or otherwise delaying any such registration as the result of any controversy that might arise with respect to the interpretation
or implementation of this Section 6(c). It shall be a condition precedent to the obligations of the Company to take any
action pursuant to this Section 6(c) that the selling Stockholders shall furnish to the Company such information regarding themselves,
the Common Stock held by them and the intended method of disposition of such securities as shall be required to effect the registration
of their Common Stock.

 

(vii)        Assignment
of Registration Rights. The rights to cause the Company to register Common Stock pursuant to this Section 6(c) may be
assigned only in connection with a Transfer of such Common Stock as permitted by this Agreement.

 

(viii)        Company
Indemnity.  The Company agrees to indemnify and hold harmless, to the fullest extent permitted by law, each Stockholder,
such Stockholder’s officers, directors, agents, and employees, and each Person who controls such Stockholder (within the
meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses caused by, or relating to any action
or proceeding arising out of or based upon, any untrue or alleged untrue statement of a material fact contained in or any omission
of a material fact from any registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement
thereto or any application or other document or communication (in this Section 6(c) collectively called an “application”)
executed by or on behalf of the Company filed in any jurisdiction in order to qualify any securities covered by such registration
statement under the “blue sky” or securities laws thereof, or any alleged omission of a material fact required to be
stated therein or necessary to make the statements therein, in light of the circumstances in which they are made, not materially
misleading, except insofar as the same are caused by or contained in any information furnished in writing to the Company by such
Stockholder expressly for use therein or by such Stockholder’s failure to deliver a copy of the registration statement or
prospectus or any amendments or supplements thereto after the Company has furnished such Stockholder with a sufficient number of
copies of the same; provided, however, that the indemnity agreement contained in this Section 6.3(viii) shall
not apply to amounts paid by such Stockholder or such Stockholder’s officers, directors, agents or employees or any Person
who controls such Stockholder in settlement of any such loss, claim, damage, liability or expense if such settlement is effected
without the consent of the Company (which consent shall not be unreasonably withheld), nor shall the Company be liable in any such
case for any such loss, claim, damage, liability or expense to the extent that it arises out of or is based upon delivery of a
prospectus by a Stockholder more than five (5) business days after such Stockholder has received notice from the Company that the
registration statement relating thereto contains an untrue statement of a material fact or an omission of a material fact.

 

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(ix)         Stockholder
Indemnity. Each Stockholder severally (and solely as to itself) agrees to indemnify and hold harmless, to the fullest extent
permitted by law, the Company, each of its Affiliates and each of their respective officers, directors, managers, agents and employees,
and each Person who controls any of the Company and any of its Affiliates (within the meaning of the Securities Act), and all successors
and assigns of any of the foregoing, and any underwriter against all losses, claims, damages, liabilities and expenses caused by,
or relating to any action or proceeding arising out of or based upon, any untrue or alleged untrue statement of a material fact
contained in or any omission of a material fact from any registration statement, prospectus or preliminary prospectus or any amendment
thereof or supplement thereto or any application executed by or on behalf of the Company filed in any jurisdiction in order to
qualify any securities covered by such registration statement under the “blue sky” or securities laws thereof, or any
alleged omission of a material fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances in which they are made, not materially misleading, in each case solely to the extent that such untrue statement or
omission was made in such registration statement, prospectus, preliminary prospectus or such amendment or supplement thereto or
any such application in reliance upon and in conformity with written information furnished by such Stockholder expressly for use
in such registration statement, prospectus, preliminary prospectus or such amendment or supplement thereto or application; provided,
however, that the indemnity agreement contained in this Section 6.3(ix) shall not apply to amounts paid in settlement
of any such loss, claim, damage, liability or expense if such settlement is effected without the consent of such Stockholder (which
consent shall not be unreasonably withheld).

 

(d)          D&O
Insurance. The Company shall obtain and maintain with financially sound and reputable insurance companies directors’
and officers’ liability insurance with such coverage amounts and other terms and conditions as approved by the Board of the
Company and reasonably acceptable to Lender.

 

		Section 7.	Stockholders.

 

(a)         Limitation
on Liability. No Stockholder shall be liable for any debt, obligation or liability of the Company, whether arising in contract,
tort or otherwise, except as provided by law or as specifically provided otherwise herein. All Persons dealing with the Company
shall have recourse solely to the assets of the Company for the payment of the debts, obligations or liabilities of the Company.

 

(b)         Business
Transactions Involving a Stockholder or Affiliate of a Stockholder. A Stockholder or its Affiliate may lend money to, provide
services to and transact other business with the Company and shall have the same rights and obligations with respect to such matters
as a Person who is not a Stockholder or an Affiliate of a Stockholder; provided, however, that (i) the material facts
as to such Person’s relationship or interest in and as to the contract or transaction are disclosed to the Board of the Company,
and the Board of the Company in good faith authorizes the contract or transaction by the affirmative votes of a majority of the
disinterested Directors, even though the disinterested Directors constitute less than a quorum, and (ii) the terms on which all
such lending, services and other business are transacted shall be on an arm’s-length basis as reasonably determined in good
faith by a majority of such disinterested Directors. The transactions contemplated by the Subdebt Agreement shall be deemed to
have satisfied the provisions of this Section 7(b).

 

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(c)         Confidentiality.
None of the Stockholders, any Director, or any of their respective representatives shall, without the prior written consent of
the Company, divulge, disclose or make accessible to any other Person (other than its officers, directors, managers, partners,
employees, agents, professional advisors and prospective investors) or use for its own benefit any Confidential Information (as
herein defined), except when required to do so by a court of competent jurisdiction, by any governmental agency having supervisory
authority or by any administrative body or legislative body (including a committee thereof) with purported or apparent jurisdiction
to order such Person to divulge, disclose or make accessible such information. For purposes of this Agreement, “Confidential
Information” shall mean non-public information concerning the Company’s or any of its Subsidiaries’ financial
data, strategic business plans, product development (or other proprietary product data), customer lists, customer information,
information relating to governmental relations, discoveries, practices, processes, methods, marketing plans and other material
non-public, proprietary and confidential information, that, in any case, is not otherwise generally available to the public and
has not been disclosed by the Company and its subsidiaries to others not subject to confidentiality agreements. Notwithstanding
anything to the contrary described herein, the parties hereto and each of their respective employees, representatives or other
agents are permitted to disclose to any and all Persons, without limitations of any kind, the tax treatment and tax structure of
the transactions and all materials of any kind (including opinions or other tax analyses) that are or have been provided to such
parties related to such tax treatment and tax structure; provided, however, that the foregoing permission to disclose
the tax treatment and tax structure does not permit the disclosure of any information that is not relevant to understanding the
tax treatment or tax structure of the transactions; provided, further, however, that the tax treatment and
tax structure shall be kept confidential to the extent necessary to comply with federal or state securities laws. This Section
7(c) shall survive termination of this Agreement.

 

(d)         Certain
Stockholder Rights. Notwithstanding any other provision of this Agreement to the contrary, but subject to the proviso contained
at the end of this Section 7(d), for so long as (i) the Taglich Founding Investors and their Affiliates and the Permitted
Transferees of any of the foregoing collectively hold not less than 75% of the Stockholder Shares held by them collectively as
of the date hereof, or (ii) the Taglich Founding Investors, the Taglich Equity Investors and their respective Affiliates and the
Permitted Transferees of any of the foregoing collectively hold not less than a 40% Percentage Interest at any time, without the
consent of the Taglich Directors, the Company and the Board of the Company shall not, and shall not cause this Agreement to be
amended or modified to:

 

(i)          cause
the Company to sell all or substantially all its assets to another Person or group of Persons in a single transaction or series
of related transactions (other than pursuant to the foreclosure of a mortgage on, pledge of or other security interest in the assets
of the Company entered into by the Company in good faith);

 

(ii)         cause
the Company to merge or consolidate with any other Person as a result of which the Stockholders owning a majority of the Stockholder
Shares immediately prior to such transaction do not own both (A) a majority of the total economic value of the equity interests
of the surviving entity immediately after such transaction, and (B) a majority of the total general voting power of the equity
interests of the surviving entity immediately after such transaction or otherwise consummate a Sale of the Company;

 

(iii)        cause
the Company to dissolve or liquidate;

 

(iv)        create
or issue any new class of equity securities (or securities convertible into equity securities) of the Company;

 

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(v)         cause
the Company to reclassify any equity securities (or securities convertible into equity securities) into equity securities (or securities
convertible into equity securities) having a preference over or being on parity with any of the Stockholder Shares;

 

(vi)        cause
the Company to form or invest in any Subsidiaries of the Company, or enter into any agreements relating thereto, including without
limitation any agreements with foreign joint venturers, partners or co-investors;

 

(vii)       cause
the Company to change the nature of the business of the Company or any Affiliate;

 

(viii)      cause
the Company to redeem or repurchase any equity interests in the Company except as provided in the Stock Purchase Agreement;

 

(ix)      
  cause the Company to make any Distribution to Stockholders;

 

(x)          cause
the Company to change the number of Directors; or

 

(xi)         approve
the taking of any of the foregoing actions by any direct or indirect Subsidiary of the Company;

 

provided, however,
that such approval of the Taglich Directors shall not be required if and to the extent that any of the foregoing is required by
the Company pursuant to and in accordance with the terms of the Subdebt Agreement or any other provision of this Agreement, and
provided further, that the Company and the Board shall not do anything described in subsections (v) and (x) without the written
consent of the Subdebt Investor.

 

(e)        Subdebt
Investor; Lender. Except as otherwise expressly set forth in this Agreement, any right granted specifically to the "Lender"
or the "Subdebt Investor" hereunder shall be exercised by the affirmative vote of the holders of a majority of the Subdebt
Shares or, if no Subdebt Shares remain outstanding, by the affirmative vote of the holders of a majority of the outstanding Subdebt
Note.

 

		Section 8.	Binding Effect; Joinders; Additional Shares.

 

(a)        Delivery
of Joinders. Any Person that is not already a party to this Agreement who acquires Stockholder Shares shall, on or before the
Transfer or issuance to it of Stockholder Shares (and as a condition thereto), sign and deliver to the Company a Joinder Agreement
substantially in the form and on the terms of Exhibit A hereto (a “Joinder Agreement”), and shall thereby
become a party to this Agreement.

 

(b)        Issuance
of Additional Capital Stock. In the event that additional shares of capital stock are issued by the Company to a Stockholder
at any time during the term of this Agreement, either directly or upon the exercise or exchange of Common Stock Equivalents, such
additional shares of capital stock shall, as a condition to such issuance, be deemed subject to the terms and provisions of this
Agreement. Nothing in this Section 8(b) shall limit the preemptive rights of the Stockholders under Section 2(d)
hereof.

 

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(c)        Issuance
to Employee Stockholders. In the event that shares of Common Stock are issued by the Company to any employee or officer of
the Company or any Subsidiary (each, an “Employee Stockholder”) or a designee thereof (each, a “Designated
Stockholder”) at any time during the term of this Agreement, either directly or upon the conversion, exercise or exchange
of Common Stock Equivalents, then, at the request of the Board of the Company, such Employee Stockholder or Designated Stockholder,
as a condition to receiving such shares of Common Stock, shall, if not already a signatory to this Agreement, execute and deliver
to the Company a Joinder Agreement.

 

(d)        Additional
Stockholders. In the event that shares of Common Stock or Common Stock Equivalents are issued by the Company to any purchaser
(who is not then a Stockholder) at any time during the term of this Agreement, either directly or upon the conversion, exercise
or exchange of securities of the Company convertible into or exercisable or exchangeable for shares of Common Stock (subject to
compliance with the preemptive rights contained in Section 2(d) hereof, to the extent applicable), then, at the Company
Board’s request in its sole discretion, this Agreement shall be amended to reflect such terms and conditions (including restrictions
on transfer, co-sale rights under Section 2(c) and preemptive rights under Section 2(d), and the like) which terms
and conditions may not detract from or be more favorable than the terms that apply to the Stockholders hereunder, but shall only
reflect those terms and conditions as are generally applicable to Stockholders hereunder (and such purchaser may be treated as
a “Stockholder” hereunder) and each Stockholder agrees, not to unreasonably withhold its consent to any such amendment
to this Agreement.

 

		Section 9.	Representations and Warranties; No Conflicting Agreements.

 

Neither the Company
nor any Stockholder will enter into, become a party to, become subject to or authorize any agreements or arrangements of any kind
with any Person with respect to any Stockholder Shares on terms inconsistent with the provisions of this Agreement or that would
restrict, prohibit or interfere with its performance of its obligations under the terms of this Agreement (whether or not such
agreements or arrangements are with other Stockholders or with Persons that are not parties to this Agreement), including, but
not limited to, agreements or arrangements with respect to the acquisition, disposition or voting of Stockholder Shares in a manner
that is inconsistent with this Agreement.

 

		Section 10.	Further Assurances.

 

Each party hereto shall
do and perform or cause to be done and performed all such further acts and things and shall execute and deliver all such other
agreements, certificates, instruments and documents as any other party hereto reasonably may request in order to carry out the
provisions of this Agreement and the consummation of the transactions contemplated hereby.

 

		Section 11.	Termination.

 

(a)        Termination
of Agreement Generally. Except as otherwise provided herein, of the provisions of this Agreement shall terminate shall be of
no further force or effect and shall not be binding upon any party hereto, upon the first to occur of:

 

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(i)          the
consummation of the dissolution, liquidation or winding-up of the Company,

 

(ii)         the
consummation of a Qualified Public Offering,

 

(iii)        the
approval of such termination by each of:

 

(A)   the Board of
the Company;

 

(B)    the holders
of a majority of the Stockholder Shares then held by all of the Taglich Investors;

 

(C)    the holders
of a majority of the Stockholder Shares then held by all of the Stockholders; and

 

(D)    Lender, and

 

(iv)        the
consummation of an Approved Sale.

 

(b)        Termination
as to a Stockholder. As to any particular Stockholder, this Agreement (except with respect to Section 7(c)) shall no
longer be binding on or of further force or effect as to such Stockholder, except as otherwise expressly provided herein, as of
the date such Stockholder has Transferred (other than a pledge, hypothecation or similar transaction) all such Stockholder’s
interest in the Company’s securities (or all such interest has been repurchased by the Company as permitted hereby) and each
transferee of such securities, if required by this Agreement, shall have become a party hereto; provided, however,
that no such termination shall be effective if such Stockholder is in breach of this Agreement immediately before or after giving
effect to such Transfer(s).

 

		Section 12.	Repurchase Rights.

 

(a)        The
Company shall repurchase the Subdebt Shares in accordance with the terms of the Stock Purchase Agreement.

 

(b)        The
Company may repurchase Stockholder Shares in accordance with the terms and conditions of the Company’s Stock Incentive Plan.

 

(c)        The
Company shall, subject to obtaining the prior written consent of the Subdebt Investor, repurchase the Founders Stock for $0.50
per share in the event the Company is sold, liquidated or completes a Qualified Public Offering for less than $12.00 per share
(as adjusted for splits, reverse stock splits, stock dividends, share combinations and the like). In the event the Company completes
a Qualified Public Offering for more than $12.00 per share or if the Company’s shares have a fair market value on a recognized
trading market for at least thirty (30) consecutive days in excess of $12.00 per share (in each case, as adjusted for splits, reverse
stock splits, stock dividends, share combinations and the like), this obligation of the Company to repurchase such Founders Stock
shall automatically terminate and the Company shall have no further right with respect thereto.

 

    	26

    	 

    

 

(d)        Notwithstanding
anything to the contrary contained in this Agreement or the Stock Incentive Plan, all repurchases of Stockholder Shares by the
Company under this Section 12 shall be subject to applicable restrictions contained in federal law, this Agreement and in
the Company’s and its respective Subsidiaries’ debt and equity financing agreements (each a “Financier”).
Notwithstanding anything to the contrary contained in this Agreement, if any such restrictions prohibit or otherwise delay the
repurchase of Stockholder Shares hereunder which the Company is otherwise entitled or required to make, the Company shall or may,
as applicable, make such repurchases within thirty (30) days after the date that it is permitted to do so under such restrictions
(and the failure to make such repurchase shall not constitute a breach or default hereunder), provided that, in such event, the
fair market value shall be calculated as of the actual date of the repurchase, and not as of the date of the effectiveness of such
restriction. The Company shall have the right to assign its rights under this Section 12 so long as such assignment is approved
by the Board of the Company.

 

(e)        In
the event that Stockholder Shares are repurchased pursuant to this Section 12, the Stockholder and his, her or its successors,
assigns or representatives will cooperate with the Company, at Company’s expense, to take all steps reasonably necessary
and desirable to obtain all required third-party, governmental and regulatory consents and approvals and cooperate with the Company
to take all other actions reasonably necessary and desirable to facilitate consummation of such repurchase(s) in a timely manner.

 

		Section 13.	General Provisions.

 

(a)        Amendment,
Waiver and Release.

 

(i)          Except
as otherwise provided herein, this Agreement may not be amended, modified or revised, in whole or in part, unless in a writing
approved by the Board of the Company, which approval must (A) include the consent of the Taglich Directors, and (B) the consent
of the holders of 60% of the Subdebt Shares so long as the Subdebt Investor, their respective Affiliates and the Permitted Transferees
of any of the foregoing hold not less than 50% of the Subdebt Shares; provided that any amendment to this Agreement that
would disproportionately and materially adversely affect any Stockholders (or group of Stockholders) shall require the written
consent of the Stockholders holding a majority of the Percentage Interests held by such adversely affected Stockholders.

 

(ii)         The
failure of any party to enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions
and shall not affect the right of such party thereafter to enforce each and every provision of this Agreement in accordance with
its terms.

 

(b)        Severability.
It is the desire and intent of the parties hereto that the provisions of this Agreement be enforced to the fullest extent permissible
under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular
provision of this Agreement shall be adjudicated by a court of competent jurisdiction to be invalid, prohibited or unenforceable
for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of
this Agreement or affecting the validity or enforceability of this Agreement or affecting the validity or enforceability of such
provision in any other jurisdiction. Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not to
be invalid, prohibited or unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn, without
invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other
jurisdiction.

 

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(c)        Entire
Agreement. Except as otherwise expressly set forth herein, this document embodies the complete agreement and understanding
among the parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements
or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way.

 

(d)        Successors
and Assigns. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable
by the Company and, so long as Stockholder Shares are held by such Person, each Person which or who is a Stockholder on the date
hereof and each subsequent Stockholder. None of the provisions hereof shall create, or be construed or deemed to create, any right
of employment in favor of any Person by the Company or any of its Subsidiaries. This Agreement is not intended to create any third
party beneficiaries. The rights of the Company and the Stockholders pursuant to Section 2(b) hereof may be assigned pro
rata to other Stockholders, based on Stockholder Share ownership, so long as such assignment is approved by the Board of the
Company.

 

(e)        Counterparts;
Facsimile; Pdf. This Agreement may be executed in separate counterparts (each of which may be transmitted via facsimile or
pdf) each of which shall be an original and all of which taken together shall constitute one and the same agreement.

 

(f)        Remedies.
The Company and the Stockholders shall be entitled to enforce their rights under this Agreement to recover damages (including reasonable
attorneys’ fees and costs, whether incurred in litigation, mediation, arbitration, bankruptcy or administrative proceedings
or any appeals therefrom) by reason of any breach of any provision of this Agreement and to exercise all other rights existing
in their favor. The Company and the Stockholders agree and acknowledge that money damages may not be an adequate remedy for any
breach of the provisions of this Agreement and that the Company and any Stockholder may in its or his sole discretion apply to
any court of law or equity of competent jurisdiction for specific performance and/or injunctive relief (without posting a bond
or other security) in order to enforce or prevent any violation of the provisions of this Agreement.

 

(g)        Notices.
Any notice, report, statement, request, or other communication provided for in this Agreement shall be in writing and shall be
either personally delivered, transmitted via facsimile and confirmed by first class mail, mailed registered or certified first
class mail (postage prepaid) or sent by reputable overnight courier service (charges prepaid) to the Company at its address set
forth below and to any other recipient at the address indicated on Schedule A hereto and to any subsequent holder of Stockholder
Shares subject to this Agreement at such address as indicated by the Company’s records and sent by the Company to all other
persons entitled to receive notices hereunder, or at such address or to the attention of such other person as the recipient party
has specified by prior written notice to the sending party. Notices will be deemed to have been given hereunder and received when
delivered personally, when confirmed received (including if by confirmation printout of the transmitting machine) if transmitted
via facsimile, five (5) days after deposit in the U.S. mail and one (1) day after deposit with a reputable overnight courier service.
The Company’s address is:

 

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UFI Acquisition, Inc.

275 Madison Avenue, Suite 1618

New York, New York 10016

Attention: Richard L. Baum, Jr.

Facsimile: (212) 661-6824

 

and with copies to (which shall
not constitute notice):

 

Taglich Private Equity LLC

275 Madison Avenue, Suite 1618

New York, New York 10016

Attention: Richard L. Baum, Jr.

Facsimile: (212) 661-6824

 

and

 

Sills Cummis & Gross P.C.

One Riverfront Plaza

Newark, New Jersey 07102

Attention: Ira A. Rosenberg,
Esq.

Facsimile: (973) 643-6500

 

Any party hereto may
send any notice, request, demand, claim or other communication hereunder to the intended recipient at the address set forth above
using any other means, but no such notice, request, demand, claim or other communication shall be deemed to have been duly given
unless and until it actually is received by the intended recipient. Any party hereto may change the address to which notices, requests,
demands, claims, and other communications hereunder are to be delivered by giving the other party notice in the manner herein set
forth.

 

(h)        Governing
Law. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE DOMESTIC LAWS OF THE STATE OF DELAWARE, WITHOUT
GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER OF THE STATE OF DELAWARE, OR ANY OTHER JURISDICTION)
THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE TO BE APPLIED.

 

(i)          Jurisdiction
and Venue.

 

(i)          Each
of the parties hereto hereby irrevocably and unconditionally submits, for himself, herself or itself and its, his or her property,
to the nonexclusive jurisdiction of any State of Delaware state court or federal court of the United States of America sitting
in the State of Delaware and any appellate court from any thereof, in any action or proceeding arising out of or relating to this
Agreement or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally
agrees that all claims in respect of any such action or proceeding may be heard and determined in any such State of Delaware state
court or, to the extent permitted by law, in any such federal court. Each of the parties hereto agrees that a final judgment in
any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law.

 

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(ii)         Each
of the parties hereto irrevocably and unconditionally waives, to the fullest extent that he, she or it may legally and effectively
do so, any objection that he, she or it may now or hereafter have to the laying of venue of any suit, action or proceeding arising
out of or relating to the Agreement in any State of Delaware state or federal court sitting in the State of Delaware. Each of the
parties hereto irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance
of such action or proceeding in any such court.

 

(iii)        Each
of the parties further agrees that the mailing of any process required by any such court by certified or registered mail, return
receipt requested, to the address for notice herein provided shall constitute valid and lawful service of process against him,
her or it, without the necessity for service by any other means provided by law.

 

(j)        Descriptive
Headings. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this
Agreement.

 

(k)        Construction.
Where specific language is used to clarify by example a general statement contained herein, such specific language shall not be
deemed to modify, limit or restrict in any manner the construction of the general statement to which it relates. The language used
in this Agreement shall be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict
construction shall be applied against any party.

 

(l)        Nouns
and Pronouns. Whenever the context may require, any pronouns used herein shall include the corresponding masculine, feminine
or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice-versa.

 

(m)        Nature
of Obligations. The obligations of the Stockholders under this Agreement are several and not joint.

 

(n)        Waiver
of Jury Trial. NO PARTY TO THIS AGREEMENT OR ANY ASSIGNEE, SUCCESSOR, HEIR OR PERSONAL REPRESENTATIVE OF A PARTY SHALL SEEK
A JURY TRIAL IN ANY LAWSUIT, PROCEEDING, COUNTERCLAIM OR ANY OTHER LITIGATION PROCEDURE BASED UPON OR ARISING OUT OF THIS AGREEMENT
OR ANY OF THE OTHER AGREEMENTS OR THE DEALINGS OR THE RELATIONSHIP BETWEEN THE PARTIES. NO PARTY WILL SEEK TO CONSOLIDATE ANY SUCH
ACTION, IN WHICH A JURY TRIAL HAS BEEN WAIVED, WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT OR HAS NOT BEEN WAIVED. THE PROVISIONS
OF THIS SECTION HAVE BEEN FULLY DISCUSSED BY THE PARTIES HERETO, AND THESE PROVISIONS SHALL BE SUBJECT TO NO EXCEPTIONS. NO PARTY
HAS IN ANY WAY AGREED WITH OR REPRESENTED TO ANY OTHER PARTY THAT THE PROVISIONS OF THIS SECTION WILL NOT BE FULLY ENFORCED IN
ALL INSTANCES.

 

    	30

    	 

    

 

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

 

	 	COMPANY:
	 	 
	 	UFI ACQUISITION, INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	TAGLICH FOUNDING INVESTORS:
	 	 
	 	 
	 	Michael N. Taglich
	 	 
	 	 
	 	Robert F. Taglich
	 	 
	 	 
	 	Richard C. Oh
	 	 
	 	 
	 	Douglas E. Hailey
	 	 
	 	 
	 	Vincent Palmieri
	 	 
	 	 
	 	Gary Kurnov
	 	 
	 	 
	 	Robert C. Schroeder
	 	 
	 	 
	 	William M. Cooke
	 	 
	 	R2MJ, LLC
	 	 
	 	By:	 
	 	 	Name: Richard L. Baum, Jr.
	 	 	Title:

 

    	 

    	 

    

 

	 	 
	 	William I. Morris
	 	 
	 	 
	 	Donn Viola
	 	 
	 	MANAGEMENT INVESTORS:
	 	 
	 	 
	 	John Weinhardt
	 	 
	 	 
	 	Thomas Tekiele
	 	 
	 	 
	 	Brad Hazen
	 	 
	 	 
	 	Michael Carson
	 	 
	 	LENDER:
	 	 
	 	THE PENINSULA FUND V LIMITED PARTNERSHIP
	 	 
	 	By:  Peninsula Fund V Management L.L.C.
	 	Its:  General Partner
	 	 
	 	By: Peninsula Capital Partners, L.L.C.
	 	Its:  Manager
	 	 
	 	By:	 
	 	 	Name: Scott A. Reilly
	 	 	Title: President & Chief
	 	 	Investment Officer

 

    	 

    	 

    

 

	 	TAGLICH EQUITY INVESTORS:
	 	 
	 	 
	 	[See attached Taglich Equity Investor Joinder Agreements]

 

    	 

    	 

    

 

SCHEDULE A

 

STOCKHOLDERS’ NAMES

 

FOUNDING
INVESTORS:

 

	Account
    Name	 	 	Shares	 
	 	 	 	 	 
	MICHAEL N. TAGLICH CLAUDIA
    TAGLICH JTWROS	 	 	 	57,400	 
	Robert F. Taglich	 	 	 	57,400	 
	RICHARD C. OH	 	 	 	5,100	 
	DOUGLAS E. HAILEY AND DEANA HAILEY
    JTWROS	 	 	 	55,533	 
	VINCENT M. PALMIERI	 	 	 	20,500	 
	Gary Kurnov	 	 	 	10,933	 
	rOBERT C. sCHROEDER	 	 	 	2,733	 
	william m. cooke	 	 	 	13,667	 
	R2MJ, LLC	 	 	 	69,667	 
	WILLIAM I. MORRIS	 	 	 	21,400	 
	Donn J. Viola	 	 	 	20,000	 

 

Management
Founding Investors:

 

	Account
    Name	 	 	Shares	 
	 	 	 	 	 
	William John Weinhardt	 	 	 	45,000	 
	Thomas Paul Tekiele	 	 	 	17,500	 
	Bradley J. Hazen TOD Catherine Anne
    Hazen	 	 	 	11,700	 
	Michael P. Carson	 	 	 	11,500	 

 

    	 

    	 

    

 

LENDER:

 

	Account
    Name	 	 	Shares	 
	 	 	 	 	 	 
	The Peninsula Fund V Limited Partnership	 	 	 	350,000	 

 

Taglich
Equity Investors:

 

	Account
    Name	 	 	Shares	 
	 	 	 	 	 	 
	Vrooman Brehler Living
    Trust	 	 	 	2,000	 
	Christopher Housen	 	 	 	10,000	 
	Patrick R Housen	 	 	 	2,500	 
	Denise D Steiner George M Steiner	 	 	 	2,500	 
	Timothy T Ellis	 	 	 	15,000	 
	ANN B OLDFATHER	 	 	 	3,000	 
	ELIOT D. COHEN AND BONNIE S. COHEN
    JTWROS	 	 	 	2,000	 
	Martin P Daly	 	 	 	2,500	 
	MERLE F STOCKLEY JR	 	 	 	1,500	 
	James C Robertson	 	 	 	8,000	 
	SARA BOWER PENN TTEE SARA BOWER
    PENN LIVING TRUST DTD 4/30/02	 	 	 	17,000	 
	SHADOW CAPITAL LLC	 	 	 	35,000	 

 

    	 

    	 

    

 

	Account
    Name	 	 	Shares	 
	 	 	 	 	 
	Alvin Fund LLC	 	 	 	25,000	 
	Steven R Berlin	 	 	 	2,000	 
	LAVERY FAMILY LIVING TRUST DTD 08/01/2007
    THOMAS W LAVERY AND JOAN G LAVERY CO-TRUSTEES	 	 	 	1,000	 
	STEVE MCCALLEY	 	 	 	10,000	 
	Terrence J Sekel	 	 	 	5,000	 
	David W Baum	 	 	 	3,500	 
	KYLE G BUCHAKJIAN	 	 	 	1,000	 
	VALERIE SEID	 	 	 	5,000	 
	IRA A ROSENBERG	 	 	 	5,000	 
	HILLSON PARTNERS LP	 	 	 	25,000	 
	ARNOLD VENTURES FUND LP	 	 	 	18,000	 
	MARK VAUGHAN ANDREA VAUGHAN JT TEN	 	 	 	1,500	 
	Jack J Dimaio Kathryn J Dimaio	 	 	 	25,000	 
	Sharon L Singer	 	 	 	2,500	 
	KENNETH W CLEVELAND	 	 	 	2,000	 
	JAMES TADYCH AND PATRICIA TADYCH
    REVOCABLE TRUST UAD 09/23/93 JAMES L TADYCH & PATRICIA A TADYCH TTEES	 	 	 	11,500	 
	PENSION INC TRUSTEE FBO THUEMLING
    INDUSTRIAL PRODUCTS INC PROFIT SHARING PLAN	 	 	 	10,000	 
	KENNETH M CLEVELAND	 	 	 	1,000	 
	RONALD JOHNSON	 	 	 	6,000	 
	DAVID FRANK RIOS & MARGARET
    JO RIOS 1999 TRUST DTD 6/22/99	 	 	 	3,000	 
	CAROLYN L FOUTCH	 	 	 	1,000	 

 

    	 

    	 

    

 

	Account Name	 	 	Shares	 
	 	 	 	 	 
	FOUTCH FAMILY LIVING TRUST UAD 10/20/08 CAROLYN FOUTCH TTEE	 	 	 	3,000	 
	TERRY SCHAEFER & CO 401K PLAN	 	 	 	1,500	 
	ROBERT W ALLEN JR	 	 	 	7,000	 
	NORPER INVESTMENTS	 	 	 	7,500	 
	KEITH BECKER	 	 	 	6,000	 
	ASHOK KUMAR NARANG	 	 	 	10,000	 
	HOWARD A KALKA	 	 	 	10,000	 
	STERLING FAMILY INVESTMENT LLC	 	 	 	30,000	 
	DAVID L ALLEN	 	 	 	6,000	 
	JUNGE REVOCABLE TRUST UAD 12/09/91 JOHN P JUNGE TTEE AMD 09/26/06	 	 	 	18,000	 
	WILLIAM SPIELBERGER	 	 	 	2,000	 
	LIAN CHANG	 	 	 	1,000	 
	KEITH A PALMER THERESA R PALMER JT/WROS	 	 	 	2,000	 
	RICHARD BUCHAKJIAN	 	 	 	3,000	 
	NINA B SANDO	 	 	 	3,000	 
	ROBERT F TAGLICH C/F XAVIER F TAGLICH UNDER NEW YORK UGMA MINORS ACT	 	 	 	1,000	 
	ROBERT F TAGLICHCUST FOR SOPHIA ESTELLE TAGLICH UNDER NEW YORK UGMA MINORS ACT	 	 	 	1,000	 
	ROBERT TAGLICH C/F MATTHEW DEJESUS TAGLICH UGMA	 	 	 	1,000	 
	ROBERT F TAGLICH C/F OLIVIA SOFIA TAGLICH UGMA NY	 	 	 	1,000	 
	FRIEDLAND TRUST UAD 12/13/07 STEPHEN FRIEDLAND & LINDA FRIEDLAND TTEES	 	 	 	2,000	 
	RICHARD OH	 	 	 	1,000	 
	WILLIAM C STEELE TTEE WILLIAM C STEELE LIVING TRUST UAD 5-11-98	 	 	 	7,500	 

 

    	 

    	 

    

 

	Account Name	 	 	Shares	 
	 	 	 	 	 
	TAD WILSON	 	 	 	3,000	 
	MONICA BERTSCH	 	 	 	2,500	 
	MICHAEL N. TAGLICH KEOGH-ACCOUNT	 	 	 	17,000	 
	SANDRA P NITZ	 	 	 	2,000	 
	GARY A. HAFNER AND LEEANN HAFNER JT TEN	 	 	 	2,500	 
	IVANKA MARIE KOKOT	 	 	 	1,000	 
	ALDO KOKOT AND MARY KOKOT JTWROS	 	 	 	1,000	 
	IRVING APPLEBAUM REVOCABLE TRUST NO. 1 UAD 09/24/70 IRVING APPLBAUM TTEE	 	 	 	3,500	 
	ROBERT EDMONDSON	 	 	 	2,900	 
	NICHOLAS TAGLICH & JULIANA TAGLICH JT/WROS	 	 	 	6,000	 
	ALLAN F SHAPIRO	 	 	 	1,500	 
	STEPHEN C RADOCCHIA	 	 	 	3,000	 
	ROBERT BROOKS	 	 	 	3,000	 
	EDWARD J COOK	 	 	 	3,000	 
	BEN PERRY GREEN	 	 	 	1,000	 
	JORDAN R KORT	 	 	 	1,500	 
	MICHAEL FOSTER & KATHRYN L FOSTER JTWROS TOD DTD 01/06/04	 	 	 	1,000	 
	ANDREW K LIGHT	 	 	 	7,000	 
	MARVIN J LOUTSENHIZER	 	 	 	5,000	 
	WILLIAM N KEHL	 	 	 	2,500	 
	GEORGE J WHITE & DEBRA A WHITE JT TEN WROS	 	 	 	3,000	 
	TROY K LOUTSENHIZER	 	 	 	2,000	 
	STANLEY A BORNSTEIN	 	 	 	2,000	 

 

    	 

    	 

    

 

	Account Name	 	 	Shares	 
	 	 	 	 	 
	FRANK M ELLIOTT	 	 	 	2,000	 
	THE BAUM FAMILY TRUST UAD 02/01/07 PATRICIA DONOGHUE TTEE	 	 	 	2,500	 
	DEBRUYN HOLDINGS INC	 	 	 	10,000	 
	DENNIS FORTIN	 	 	 	30,000	 
	JOHN R BERTSCH TRUST DTD 12/4/2004 JOHN R BERTSCH TRUSTEE	 	 	 	26,000	 
	MICHAEL DUNHAM	 	 	 	17,500	 
	THE LADENDORF FAMILY REVOCABLE LIVING TRUST UAD 04/11/11 MARK C LADENDORF & DEBRA L LADENDORF TTEES	 	 	 	9,000	 
	ROBERT W ALLEN TRUST UAD 04/29/08 ROBERT W ALLEN TTEE	 	 	 	18,000	 
	SUSAN M ALLEN TRUST UAD 04/29/08 SUSAN ALLEN TTEE	 	 	 	18,000	 
	CHARLES BRAND	 	 	 	20,733	 
	REVOCABLE LIVING TRUST OF FRANCES DELUCA UAD 10/09/01 FRANCES DELUCA & GUERINO DELUCA TTEES AMD 08/08/07	 	 	 	14,000	 
	PAUL R WINTER	 	 	 	10,000	 
	MICHAEL N TAGLICH CLAUDIA TAGLICH JTWROS	 	 	 	33,000	 
	H. PHILIP HOWE TRUST UAD 11/15/02 H PHILIP HOWE & MARGARET VIRGINIA HOWE TTEES	 	 	 	3,000	 
	NUTIE DOWDLE	 	 	 	6,500	 
	JEFFREY G HIPP & MARY ANN HIPP JT/WROS	 	 	 	5,000	 
	ROBERT L DEBRUYN TRUST UAD 10/5/94 ROBERT L DEBRUYN & TRACEY H DEBRUYN TTEE	 	 	 	10,000	 
	TRACEY H DEBRUYN TRUST UAD 10/5/94 TRACEY H DEBRUYN & ROBERT L DEBRUYN TTEE	 	 	 	10,000	 
	WALTER T PARKES	 	 	 	5,000	 
	DAVID A RANDOM	 	 	 	7,500	 
	HARVEY BIBICOFF AND JACQUELINE BIBICOFF TRUSTEES OF THE BIBICOFF FAMILY TRUST DTD 5/16/00	 	 	 	3,500	 

 

    	 

    	 

    

 

	Account Name	 	 	Shares	 
	 	 	 	 	 
	MARY MARGUERITE SCHNURER FAMILY TRUST UAD 12/08/05 MARY MARGUERITE SCHNURER TTEE	 	 	 	2,000	 
	MICHAEL P HAGERTY	 	 	 	3,500	 
	GARY ARNOLD AND PATRICIA ARNOLD TEN COM	 	 	 	15,000	 
	RANDALL S KNOX	 	 	 	4,500	 
	JEFFREY L SADAR & BARBARA A SADAR JTWROS	 	 	 	1,500	 
	SHEELA P KUMAR	 	 	 	2,500	 
	SUSAN THORSTENN & MAGNUS THORSTENN TEN COMM	 	 	 	10,000	 
	ROBERT P GIESEN	 	 	 	1,500	 
	STEVE REDMON & BRENDA REDMON JT TEN WROS	 	 	 	2,500	 
	DR THOMAS HEIRIGS & SHERYL HEIRIGS JT/WROS	 	 	 	1,500	 
	GLENN R HUBBARD	 	 	 	7,500	 
	APPLEBAUM FAMILY LTD PARTNERS IRVING APPLEBAUM GENERAL PTNR	 	 	 	1,500	 
	THOMAS R JENNETT & JODI K JENNETT JT TEN WROS	 	 	 	1,500	 
	WULF PAULICK & RENATE PAULICK JT/WROS	 	 	 	1,500	 
	DOUGLAS FRIEDRICH & MELANIE FRIEDRICH JT/WROS	 	 	 	3,000	 
	ESTATE OF RICHARD CURTIS CLAYTON DEBORAH ANN CLAYTON EXECUTOR	 	 	 	10,000	 
	TOM HIRSCH MAUREEN A HIRSCH	 	 	 	1,000	 
	DONALD B. MCCULLOCH TRUST U/A/DTD 3/16/77 DONALD B. MCCULLOCH AND JACQUELINE M MCCULLOCH COTRUSTEE	 	 	 	1,000	 
	IRA FBO   ROBERT F TAGLICH PERSHING LLC AS CUSTODIAN ROLLOVER ACCOUNT	 	 	 	50,000	 
	IRA FBO   SAMUEL E LEONARD PERSHING LLC AS CUSTODIAN	 	 	 	3,000	 
	IRA FBO PAUL E FRASCOIA PERSHING LLC AS CUSTODIAN ROLLOVER ACCOUNT	 	 	 	2,000	 
	IRA FBO DONALD BRIAN KENT PERSHING LLC AS CUSTODIAN ROTH CONVERSION ACCOUNT	 	 	 	3,000	 

 

    	 

    	 

    

 

	Account
    Name	 	 	Shares	 
	 	 	 	 	 
	SEP FBO ARTHUR
    RESNIKOFF PERSHING LLC AS CUSTODIAN	 	 	 	2,500	 
	IRA FBO STARR F SCHLOBOHM JR PERSHING
    LLC AS CUSTODIAN	 	 	 	5,000	 
	IRA FBO JOHN C GUTTILLA PERSHING
    LLC AS CUSTODIAN ROTH CONVERSION ACCOUNT	 	 	 	1,500	 
	SEP FBO   ALAN TOPAL
    PERSHING LLC AS CUSTODIAN	 	 	 	1,000	 
	IRA FBO SCOTT C FOLKERS PERSHING
    LLC AS CUSTODIAN ROLLOVER ACCOUNT	 	 	 	2,000	 
	DAVID J. LARKWORTHY TOD DTD 01/20/06	 	 	 	1,000	 
	JOHN R WORTHINGTON TR JOHN
    R WORTHINGTON TRUST U A DATED 3-28-00	 	 	 	5,000	 
	STEVEN A BOGGS	 	 	 	10,000	 
	ROBERT MOUSSA	 	 	 	3,000	 
	ESTELLE SIEGEL	 	 	 	2,000	 
	RACHEL T BARONI TRUST UAD 12/31/94
    P J BARONI & R T BARONI TTEES AMD 08/11/09	 	 	 	2,000	 
	Daniel Keller	 	 	 	2,500	 
	DAVID L PASTRICH	 	 	 	2,000	 
	BRUCE C MCDERMOTT MARGRET G MCDERMOTT
    JT TEN	 	 	 	1,000	 

 

    	 

    	 

    

 

EXHIBIT A

 

JOINDER AGREEMENT

 

By execution of this
Joinder Agreement, the undersigned agrees to become a party to that certain Stockholders Agreement dated as of March 18, 2013,
among UFI Acquisition, Inc., a Delaware corporation, and certain of its stockholders. The undersigned shall have all the rights,
and shall observe all the obligations, applicable to [a Taglich Founding Investor] [a Management Founding Investor] [Lender] [a
Stockholder] under the Agreement.

 

Name:_______________________________

(PRINTED)

 

	Address for Notices:	 	with copies to:
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

Signature:_____________________________

 

Date:_________________________________Exhibit 10.17

 

EXECUTION VERSION

 

 

STOCK PURCHASE AGREEMENT

 

 

    	 

    	 

    

 

STOCK PURCHASE AGREEMENT

 

This Stock Purchase
Agreement (this “Agreement”) made as of March 18, 2013, by and between UFI ACQUISITION, INC., a Delaware corporation
(the “Company”), and THE PENINSULA FUND V LIMITED PARTNERSHIP, a Delaware limited partnership (the “Purchaser”).

 

WITNESSETH:

 

WHEREAS, the Company,
certain of its affiliates, and the Purchaser have entered into a Note Purchase Agreement dated of even date with this Agreement
(the “Note Agreement”);

 

WHEREAS, the Company,
the Purchaser, and other stockholders of the Company have entered into a Stockholders Agreement dated as of even date with this
Agreement (the “Stockholders Agreement”); and

 

WHEREAS, the Purchaser
is willing to enter into and consummate the transactions contemplated by the Note Agreement only if, among other things, the Company
enters into, and performs its obligations under, this Agreement and the Stockholders Agreement.

 

NOW, THEREFORE, in
consideration of the foregoing, the mutual covenants contained in this Agreement and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Purchaser and the Company, intending to be legally bound, agree as
follows:

 

Article
I.

 

Definitions

 

Capitalized terms used
in this Agreement shall have the meanings ascribed to them in Section 8.16 of this Agreement.

 

    	1

    	 

    

 

Article
II.

 

The Common Stock

 

2.1           The
Common Stock.

 

On the Closing Date,
the Purchaser agrees to purchase from the Company for a purchase price of $3,500,000, and the Company agrees to issue to the Purchaser,
350,000 shares of Common Stock (the “Subdebt Shares”) which represent 19.425% of the Common Stock on a fully
diluted basis. As used in this Agreement, the term “on a fully diluted basis” means the number of shares of Common
Stock of the Company as of any date, assuming full exercise or conversion of all warrants, options, preferred stock, convertible
notes or debentures, stock purchase rights and all agreements, instruments, documents or securities, convertible, exercisable or
exchangeable, in whole or in part, into Common Stock, or other similar rights outstanding on such date.

 

2.2           Legend.

 

The Company will deliver
to the Purchaser on the Closing Date one or more certificates representing the Subdebt Shares purchased by the Purchaser in such
amounts as the Purchaser requests. Such certificates will be issued in the Purchaser's name or in the name or names of its designee
or designees, as the case may be. It is understood and agreed that the certificates will bear the following legend:

 

			“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT
WITH A VIEW TO OR FOR SALE IN CONNECTION WITH THE DISTRIBUTION HEREOF. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE PLEDGED, SOLD, OFFERED FOR SALE, TRANSFERRED, OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER OR EXEMPTION FROM SUCH ACT AND ALL APPLICABLE STATE SECURITIES LAWS.”

 

			“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS
ON TRANSFER, APPROVED SALE PROVISIONS, VOTING PROVISIONS AND CERTAIN OTHER AGREEMENTS SET FORTH IN THE STOCKHOLDERS AGREEMENT AMONG
UFI ACQUISITION, INC. AND CERTAIN OF ITS SECURITYHOLDERS. THE HOLDER HEREOF MAY OBTAIN A COPY OF SUCH AGREEMENT WITHOUT CHARGE
AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS.”

 

2.3           Taxes.

 

The issuance of any
Subdebt Shares will be made without charge or offset to a Holder for any stock issuance tax or stock transfer tax.

 

    	2

    	 

    

 

2.4           Stock
Register.

 

The Company will, at
all times while any of the Common Stock remains outstanding, keep and maintain at its principal office a register in which the
registration, transfer, and exchange of the Common Stock will be provided for (the "Stock Register"). Subject
to the Stockholders Agreement and compliance with applicable laws and with rules of any relevant securities exchange, the Company
will not at any time, except upon the dissolution, liquidation, or winding up of the Company, close the Stock Register so as to
result in preventing or delaying the transfer of any Common Stock.

 

2.5           Transfer
and Exchange.

 

Subject to the Stockholders
Agreement and restrictions on transferability imposed by applicable securities laws, the Subdebt Shares are transferable, as to
all or any part of the number of shares held by the Holders of the Subdebt Shares, in person or by a duly authorized attorney,
on the books of the Company upon surrender of the share certificate(s) at the principal offices of the Company, together with duly
executed stock transfer powers attached. Absent any such transfer and subject to the Stockholders Agreement, the Company may deem
and treat the registered Holders of the Subdebt Shares at any time as the absolute owners of the Subdebt Shares for all purposes
and will not be affected by any notice to the contrary. If any share certificate is transferred in part, the Company will, at the
time of surrender of such certificate, issue to the transferee a similar certificate covering the number of shares transferred
and to the transferor a certificate covering the number of shares not transferred.

 

2.6           Lost,
Stolen, Mutilated, or Destroyed Certificate.

 

If any certificate
representing any Subdebt Shares is lost, stolen, mutilated, or destroyed, then upon delivery by the Holder(s) thereof to the Company
of a lost certificate affidavit in form and substance reasonably satisfactory to the Company (which affidavit shall include an
indemnity in favor of the Company), the Company will issue a new certificate of like denomination, tenor, and date as the certificate
so lost, stolen, mutilated, or destroyed. Any such new certificate will constitute an original contractual obligation of the Company.

 

    	3

    	 

    

 

Article
III.

 

Representations and Warranties

 

3.1           Representations
and Warranties of the Company.

 

The Company represents
and warrants to the Purchaser that:

 

(a)        As of the Closing Date,
the authorized capital stock of the Company consists of 2,500,000 shares of Common Stock, $.001 par value, of which 1,666,666 shares
are issued and outstanding immediately following the Closing (as defined in the Note Agreement). All such issued and outstanding
shares have been duly authorized and validly issued, are fully paid and nonassessable, and have been offered, issued, sold, and
delivered by the Company free from preemptive rights, rights of first refusal, or similar rights and in compliance with applicable
federal and state securities laws. Except pursuant to this Agreement, the Stockholders Agreement and the various Subscription Agreements,
dated of even date with this Agreement, entered into between the Company and various investors (fully-executed copies of which
the Company will provide to the Purchaser within thirty (30) days of the Closing Date) (collectively, the “Subscription
Agreements”), the Company is not obligated to issue or sell any Capital Stock, and the Company is not party to, or otherwise
bound by, any agreement affecting the voting of any Capital Stock. Except for the Stockholders Agreement, neither the Company nor
its Subsidiaries is, nor will it be, a party to, or otherwise bound by, any agreement obligating it to register any of its Capital
Stock.

 

(b)         The Subdebt
Shares have been duly and validly authorized, validly issued, fully paid, and nonassessable and free of preemptive rights, rights
of first refusal, or similar rights other than as contemplated by the Stockholders Agreement.

 

(c)          Except
for this Agreement, the Stockholders Agreement, the Subscription Agreements, and the documents contemplated hereby and thereby,
as of the Closing Date there is no agreement, arrangement, or understanding involving the Company or any of its Subsidiaries, modifying,
restricting, or in any way affecting the rights of any security holder to vote securities of the Company.

 

(d)          Each of the representations
and warranties made by the Company and its Subsidiaries pursuant to the Note Agreement and the Stockholders Agreement, as the case
may be, is true and correct, and such representations and warranties, as well as the related defined terms contained therein, are
hereby incorporated herein by reference with the same effect as if each and every such representation and warranty and defined
term were set forth herein in its entirety and were made as of the date hereof, except that (i) all cross references shall be deemed
to refer to the relevant provision or provisions as incorporated herein, and (ii) references therein to “this Agreement”,
“hereof” and “hereto” shall be deemed to refer to this Agreement. Any supplement, amendment, modification,
waiver or consent made or granted under the Note Agreement in connection with such provisions of the Note Agreement incorporated
herein at any time after the date hereof shall be deemed a supplement, amendment, modification, waiver or consent, as the case
may be, with respect to such provisions as incorporated herein, but only if the Holders have consented in writing to such supplement,
amendment, modification, waiver or consent. Notwithstanding anything in this Agreement to the contrary, no termination, cancellation
or expiry of the Note Agreement shall have any effect whatsoever upon the provisions thereof as such provisions are incorporated
herein, and such provisions of the Note Agreement incorporated herein shall be deemed to survive any such termination, cancellation
or expiry of the Note Agreement and shall thereafter continue to be binding upon the Company under this Agreement. In the event
of any inconsistency between the provisions of the Note Agreement incorporated herein by reference and the provisions of this Agreement,
the provisions of this Agreement will prevail.

 

    	4

    	 

    

 

3.2           Representations
and Warranties of the Purchaser.

The Purchaser represents and warrants to the Company with respect to itself and not with respect to any other investor in the Company
that each of the representations and warranties in Article III of the Note Agreement is true and correct.

 

Article
IV.

 

Covenants

 

The Company covenants
and agrees as follows:

 

4.1           Notice.
In the event of (i) any setting by the Company of a record date with respect to the holders of any class of Capital Stock for the
purpose of determining which of such holders are entitled to dividends, repurchases of securities or other distributions, or any
right to subscribe for, purchase or otherwise acquire any shares of Capital Stock or other property or to receive any other right;
or (ii) any capital reorganization of the Company, or reclassification or recapitalization of the Capital Stock or any transfer
of all or a majority of the assets, business, or revenue or income generating capacity of the Company, or consolidation, merger,
share exchange, reorganization, or similar transaction involving the Company; or (iii) any voluntary or involuntary dissolution,
liquidation, or winding up of the Company; or (iv) any proposed issue or grant by the Company of any Capital Stock, or any right
or option to subscribe for, purchase, or otherwise acquire any Capital Stock, then, in each such event, the Company will deliver
or cause to be delivered to the Holders a notice specifying, as the case may be, (A) the date on which any such record is to be
set for the purpose of such dividend, distribution, or right, and stating the amount and character of such dividend, distribution,
or right; (B) the date as of which the holders of record will be entitled to vote on any reorganization, reclassification, recapitalization,
transfer, consolidation, merger, share exchange, conveyance, dissolution, liquidation, or winding-up; (C) the date on which any
such reorganization, reclassification, recapitalization, transfer, consolidation, merger, share exchange, conveyance, dissolution,
liquidation, or winding-up is to take place and the time, if any is to be fixed, as of which the holders of record of any class
of Capital Stock will be entitled to exchange their shares of Capital Stock for securities or other property deliverable upon such
event; (D) the amount and character of such Capital Stock, property, or rights proposed to be issued or granted, the consideration
to be received therefor, and, in the case of rights or options, the exercise price thereof, and the date of such proposed issue
or grant and the Persons or class of Persons to whom such proposed issue or grant will be offered or made; and (E) such other information
as the Holders may reasonably request. Any such notice will be deposited in the United States mail, postage prepaid, at least fifteen
(15) days prior to the date therein specified.

 

    	5

    	 

    

 

4.2           Incorporation
of Note Agreement Covenants.

 

(a)          Each
of the covenants made by the Company and its Subsidiaries pursuant to Sections 6.1, 6.2(b), 6.3, 6.4, 6.5, 6.6, 6.10, 6.11, 6.13(a),
(b) and (d), 6.14, 6.18, 6.19 and 7.6 to the Note Agreement is true and correct, and such covenants, as well as the related defined
terms contained therein, are hereby incorporated herein by reference with the same effect as if each and every such covenant and
defined term were set forth herein in its entirety and were made as of the date hereof, except that (i) all cross references shall
be deemed to refer to the relevant provision or provisions as incorporated herein, and (ii) references therein to “this Agreement”,
“hereof” and “hereto” shall be deemed to refer to this Agreement. Any supplement, amendment, modification,
waiver or consent made or granted under the Note Agreement in connection with such provisions of the Note Agreement incorporated
herein at any time after the date hereof shall be deemed a supplement, amendment, modification, waiver or consent, as the case
may be, with respect to such provisions as incorporated herein, but only if the Holders have consented in writing to such supplement,
amendment, modification, waiver or consent. Notwithstanding anything in this Agreement to the contrary, no termination, cancellation
or expiry of the Note Agreement shall have any effect whatsoever upon the provisions thereof as such provisions are incorporated
herein, and such provisions of the Note Agreement incorporated herein shall be deemed to survive any such termination, cancellation
or expiry of the Note Agreement and shall thereafter continue to be binding upon the Company under this Agreement. In the event
of any inconsistency between the provisions of the Note Agreement incorporated herein by reference and the provisions of this Agreement,
the provisions of this Agreement will prevail.

 

(b)          Neither
the Company nor any of its direct or indirect Subsidiaries will at any time make or become obligated to make, directly or indirectly,
any professional fees, consulting fees, management fees, or any other payments to any shareholders or Affiliates of the Company
or such Subsidiaries, unless such obligations are upon terms that are at least as favorable as would result in a comparable arm's-length
transaction with a Person not a shareholder or Affiliate of the Company or such Subsidiary. Notwithstanding the foregoing, the
Company may pay annual management fees, payable in monthly installments in arrears, to Taglich Private Equity LLC in an aggregate
amount not to exceed Three Hundred Thousand Dollars ($300,000) in any Fiscal Year.

 

(c)          Neither
the Company nor any of its Subsidiaries will (i) permit the aggregate amount of salary, other direct and indirect remuneration
(including, but not limited to, professional, consulting and management fees and expenses), and corporate overhead paid by the
Company and/or its Subsidiaries during any Fiscal Year (as defined in the Note Agreement) to the Management Group (as defined in
the Note Agreement) to exceed the terms of their respective employment agreements as of the date hereof, except for reasonable
and customary changes in annual compensation as may be authorized by such Company’s or Subsidiary’s Board of Directors,
as applicable, or (ii) provide any members of the Management Group with employee benefits that are not generally provided to all
employees.

 

    	6

    	 

    

 

4.3           [Intentionally
Omitted].

 

4.4           Actions
Consistent With Agreements. 

 

Neither the Company
nor any of its Affiliates nor any of the Taglich Founding Investors shall take any actions which is reasonably likely to, or otherwise
directly or indirectly attempt to, circumvent, avoid, undermine or defeat any of their respective obligations under this Agreement,
the Note Agreement, the Stockholders Agreement, or any other documents, instruments, agreements or certificates related thereto.

 

Article
V.

 

Conditions

 

The obligations of
the Purchaser to effect the transactions contemplated by this Agreement are subject to satisfaction or waiver by the Purchaser
of each of the conditions precedent to the obligations of the Purchaser under the Note Agreement.

 

Article
VI.

 

[Intentionally Omitted]

 

    	7

    	 

    

 

Article
VII.

 

Put Option

 

7.1           Grant
of Option.

 

The Company hereby
grants to the Holders an option to sell to the Company, and the Company is obligated to purchase from each Holder under such option
(the “Put Option”), all (but not less than all) of the Put Shares. The Put Option will be effective (i) during
the fifteen (15) day period after each of the sixth (6th) and seventh (7th) anniversary of the date hereof
and (ii) upon and at any time after the occurrence of a change in control of the Company or any Subsidiary (the “Put
Option Periods”). For purposes of this Agreement, a “change of control” of the Company means the
Taglich Founding Investors and their respective Affiliates (as defined
in the Stockholders Agreement) and the Permitted Transferees (as defined in the Stockholders Agreement) of any of the foregoing
collectively ceasing to (i) own, directly or indirectly, not less than seventy five percent (75%) of the shares of issued and
outstanding voting capital stock of the Company owned by them on the
date hereof (as adjusted for splits, reverse stock splits, stock dividends,
share combinations and the like), or (ii) have the legal right or ability to elect a majority of the members of the board of directors
of the Company. For purposes of this Agreement, a “change of control” of any of the Company's Subsidiaries will mean
the Company ceasing to own directly or indirectly 100% of such Subsidiary's Capital Stock or the sale of all or substantially
all of a Subsidiary's assets.

 

7.2           Put
Price.

 

In the event that the
Holders exercise the Put Option, the price (the “Put Price”) to be paid to each Holder pursuant to this Agreement
will be cash in the sum determined by mutual agreement between the Holders and the Company as the fair market value of the Put
Shares, without premium for control or discount for minority interests, illiquidity or restrictions on transfer. In the event that
the Put Price cannot be determined by mutual agreement between the Holders and the Company, then the Put Price will be cash in
the sum of the amount determined by multiplying the Appraised Value, determined on a per share basis (assuming, for the purpose
of this paragraph, that any warrants, or outstanding and exercisable options to acquire shares of common stock, are exercised,
payment of the exercise price is deemed received, and the underlying shares of common stock are deemed outstanding) times the number
of Subdebt Shares.

 

7.3           Exercise
of Put Option.

 

The Put Option may
be exercised during a Put Option Period with respect to all (but not less than all) of the Put Shares, by the Holders giving notice
to the Company and each other Holder during the Put Option Period of the Holders’ election to exercise the Put Option, and
the date of the Put Option Closing (as defined below), which will be not less than fifteen (15) nor more than sixty (60) days after
the date of such notice.

 

    	8

    	 

    

 

7.4           Certain
Remedies.

 

If, after reasonable
efforts, the Company is unable to secure financing for the purchase of the Put Shares and, as a result, the Company defaults on
its obligation to purchase all or any portion of the Put Shares upon exercise of the Put Option, in addition to any other rights
or remedies of any Holder, the Put Price, or any portion of the Put Price not satisfied, shall be added to the principal balance
of the Senior Subordinated Note (or a new Senior Subordinated Note if the original note has already been repaid), at which time
the Company will, upon the request of the Holders, execute and deliver to the Holder an amended or new promissory note and an amended
or new note purchase agreement and security agreement in the same form as the original Note Agreement, if applicable, all in form
and substance satisfactory to such Holder evidencing such obligation; provided that such Senior Subordinated Note or new Senior
Subordinated Note shall be subject to subordination provisions substantially equivalent to the provisions set forth in the Subordination
Agreement (as defined in the Note Agreement), with such subordination to be in favor of RBS Citizens, N.A. or another lender or
lenders to the Company and/or it affiliates in the event of a refinancing of the Senior Debt (as defined in the Note Agreement).

 

7.5           Put
Option Closing.

 

The closing for the
purchase and sale of all of the Put Shares as provided above will take place at the office of the Company or a Holder on the date
specified in such notice of exercise (a “Put Option Closing”). At the Put Option Closing, the Holders will deliver
the certificate or certificates evidencing the Put Shares being purchased, duly endorsed in blank, and will certify in writing
to the Company that the Put Shares are being delivered to the Company free and clear of all liens, encumbrances and restrictions
other than as set forth in the Stockholders Agreement or applicable restrictions on transfer imposed by applicable securities law.
In consideration therefor, the Company will deliver to such Holders the Put Price, which will be payable in cash.

 

    	9

    	 

    

 

Article
VIII.

 

Miscellaneous

 

8.1           Indemnification.

 

(a)           In addition to any other
rights or remedies to which the Purchaser and the Holders may be entitled, the Company agrees to and will indemnify and hold harmless
the Purchaser, the Holders, and their Affiliates and their respective successors, assigns, officers, directors, employees, Invitees,
attorneys, and agents (individually and collectively, an “Indemnified Party”) from and against any and all losses,
claims, obligations, liabilities, deficiencies, diminutions in value, penalties, causes of action, damages, costs, and expenses
(including, without limitation, costs of investigation and defense, reasonable attorneys' fees and expenses (but excluding any
special, indirect, incidental, consequential or exemplary damages, whether or not the possibility of such damages was reasonably
foreseeable or disclosed)) (all of the foregoing, collectively, “Losses”) that the Indemnified Party may suffer,
incur, or be responsible for, arising or resulting from (i) any misrepresentation, breach of warranty, or nonfulfillment of any
covenant or agreement on the part of the Company under this Agreement, the Note Agreement, the Stockholders Agreement, or under
any other agreement to which the Company is a party in connection with the transactions contemplated by this transaction, or from
any misrepresentation in or omission from any certificate or other instrument furnished or to be furnished to the Purchaser or
the Holders under this Agreement, and (ii) the exercise of rights pursuant to Section 8.3(d) hereof and/or anyone’s service
status as an “Invitee” (as defined in). The foregoing indemnification excludes any such claims, actions, damages, costs
and expenses incurred by reason of the Person indemnified’s gross negligence or willful misconduct as determined by a final
and nonappealable judgment of a court of competent jurisdiction.

 

(b)           In
addition to any other rights or remedies to which the Company may be entitled, the Holders agree to and will, jointly and severally,
indemnify and hold harmless the Company and its Affiliates and their respective successors, assigns, officers, directors, employees,
attorneys, and agents (individually and collectively, a “Company Indemnified Party”) from and against any and
all Losses that the Company Indemnified Party may suffer, incur, or be responsible for, arising or resulting from any misrepresentation,
breach of warranty, or nonfulfillment of any covenant or agreement on the part of any Holder under this Agreement, the Note Agreement,
the Stockholders Agreement, or under any other agreement to which any Holder is a party in connection with the transactions contemplated
by this transaction, or from any misrepresentation in or omission from any certificate or other instrument furnished or to be
furnished to the Company under this Agreement. The foregoing indemnification excludes any such claims, actions, damages, costs
and expenses incurred by reason of the Person indemnified’s gross negligence or willful misconduct as determined by a final
and nonappealable judgment of a court of competent jurisdiction.

 

    	10

    	 

    

 

8.2           Default.

 

It is agreed that a
violation by any party of the terms of this Agreement cannot be adequately measured or compensated in money damages, and that any
breach or threatened breach of this Agreement by a party to this Agreement may do irreparable injury to the nondefaulting party.
It is, therefore, agreed that in the event of any breach or threatened breach by a party to this Agreement of the terms and conditions
set forth in this Agreement, the nondefaulting party will be entitled, in addition to any and all other rights and remedies that
it may have in law or in equity, to apply for and seek injunctive relief requiring the defaulting party to be restrained from any
such breach or threatened breach or to refrain from a continuation of any actual breach.

 

8.3           Information
Covenants.

 

(a)          Notice
of Stockholder and Board Meetings. If a meeting of the Board of Directors or stockholders of the Company is called or if consents
of the Company's stockholders are solicited to consider and take action on a proposal for (i) the declaration of a dividend or
payment of a distribution with respect to the Common Stock, (ii) the voluntary dissolution, liquidation or winding up of the Company,
(iii) the issuance of shares of Common Stock or any Common Stock Equivalents, or (iv) any Change of Control, IPO or Reorganization,
then the Company shall send written notice thereof to each Holder (by first class mail, postage prepaid, addressed to the Holder
at its address shown on the books of the Company) at least five (5) Business Days prior to the record date for determining stockholders
entitled to vote at such meeting or to take action with respect to such consent.

 

(b)          Cooperation.
The Company shall cooperate with each Holder in supplying such information as may be reasonably necessary for such Person to complete
and file any information reporting forms presently or hereafter required by the SEC and/or any other Governmental Authority as
a condition to the availability of an exemption under the Securities Act and any applicable state securities law for the sale or
purchase of the Common Stock.

 

(c)          Proper
Books and Records. The Company covenants that it will, and will cause its Subsidiaries to, keep proper books and records in
which full, true and correct entries in conformity with generally accepted accounting principles shall be made of all dealings
and transactions in relation to its business and activities.

 

(d)          Visitation;
Inspection; Board Observation. The Company will permit representatives designated by the Holders of a majority of the Subdebt
Shares, subject to execution of a confidentiality agreement in form and substance reasonably satisfactory to the Company, to (i)
visit and inspect any of the properties of the Company during normal business hours on reasonable advance notice, (ii) examine
the corporate and financial records of the Company and make copies thereof or extracts therefrom, and (iii) discuss the affairs,
finances and accounts of the Company with the directors, officers, key employees and independent accountants of the Company. In
addition to any rights under this Agreement, the Company will permit the holders of the Subdebt Shares, or their designee, so long
as such holder(s) own any stock, warrants or other equity interest in the Company, to (a) have one (1) individual authorized to
attend all Board of Directors meetings of the Company or any committees thereof (the "Invitee"), (b) call a meeting of
the Board of Directors of the Company or any committee thereof, (c) provide such Invitee not less than five (5) Business Days’
actual notice of all regular meetings and two (2) Business Days’ actual notice of all special meetings of the Company's Board
of Directors or any committee thereof, and (d) provide to such Invitee a copy of all materials and information distributed at or
prior to such meetings or otherwise to the directors of the Company or members of any committee thereof. Such meetings will be
held in person at least annually and the Company will cause its Board of Directors to call a meeting at any time upon the request
of the Invitee. The Invitee may not be removed without the consent of the holder(s) of the Subdebt Shares. The holder(s) of a majority
of the Subdebt Shares may reasonably require senior management of the Company at any time upon reasonable notice to travel to such
holder(s) office to meet and discuss the Company and any aspect of its business. The holder(s) of the Subdebt Shares may, at any
time, terminate their rights under this Section 8.3(d) by providing written notice of such termination to the Company.

 

    	11

    	 

    

 

		8.4	Change of Control.

 

The Company shall not,
directly or indirectly, enter into any change of control (as defined above), IPO, merger, consolidation, reorganization or similar
transaction in which the Company shall not be the surviving Company unless the proposed surviving Company shall, prior to such
transaction, agree in writing to assume the obligations of the Company under this Agreement.

 

		8.5	Integration.

 

This Agreement, the
Note Agreement and the Stockholders Agreement constitute the entire agreement with respect to the subject matter hereof and thereof
and supersede all previous written, and all previous or contemporaneous oral, negotiations, understandings, arrangements, and agreements.
This Agreement may not be amended or supplemented except by a writing signed by the Company and each Holder.

 

		8.6	Headings.

 

The headings in this
Agreement are for convenience and reference only and are not part of the substance of this Agreement. References in this Agreement
to Sections and Articles are references to the Sections and Articles of this Agreement unless otherwise specified.

 

		8.7	Severability.

 

The parties to this
Agreement expressly agree that it is not the intention of any of them to violate any public policy, statutory or common law rules,
regulations, or decisions of any governmental or regulatory body. If any provision of this Agreement is judicially or administratively
interpreted or construed as being in violation of any such policy, rule, regulation, or decision, the provision, section, sentence,
word, clause, or combination thereof causing such violation will be inoperative (and in lieu thereof there will be inserted such
provision, sentence, word, clause, or combination thereof as may be valid and consistent with the intent of the parties under this
Agreement) and the remainder of this Agreement, as amended, will remain binding upon the parties, unless the inoperative provision
would cause enforcement of the remainder of this Agreement to be inequitable under the circumstances.

 

    	12

    	 

    

 

		8.8	Notices.

 

Whenever it is provided
herein that any notice, demand, request, consent, approval, declaration, or other communication be given to or served upon any
of the parties by another, such notice, demand, request, consent, approval, declaration, or other communication will be in writing
and will be deemed to have been validly served, given or delivered (and “the date of such notice” or words of similar
effect will mean the date) five (5) days after deposit in the United States mails, certified mail, return receipt requested, with
proper postage prepaid, or upon receipt thereof (whether by non-certified mail, telecopy, telegram, express delivery, or otherwise),
whichever is earlier, and addressed to the party to be notified as follows:

 

	If to the Purchaser, at:	The Peninsula Fund V Limited Partnership
	 	c/o Peninsula Capital Partners L.L.C.
	 	500 Woodward Avenue, Suite 2800
	 	Detroit, Michigan 48226
	 	Attn: Scott A. Reilly, President 
	 	Telephone:     (313) 237-5100
	 	Facsimile:       (313) 237-5111 
	 	Email:  reilly@peninsulafunds.com
	 	 
	with a copy to:	Dickinson Wright PLLC
	 	500 Woodward Avenue, Suite 4000 
	 	Detroit, Michigan  48226 
	 	Attn: Richard M. Bolton, Esq. 
	 	Telephone:    (313) 223-3648 
	 	Facsimile:      (313) 223-3598 
	 	Email:  rbolton@dickinsonwright.com

 

    	13

    	 

    

 

	If to the Company:	UFI Acquisition, Inc.
	 	275 Madison Avenue, Suite 1618
	 	New York, New York 10016
	 	Attn: Richard L. Baum, Jr.
	 	Telephone:  (212) 661-6886
	 	Facsimile:   (212) 661-6824
	 	Email: richard@baum.com
	 	 
	with copies to:	Taglich Private Equity LLC
	 	275 Madison Avenue, Suite 1618
	 	New York, New York 10016
	 	Attention: Richard L. Baum, Jr.
	 	Telephone:  (212) 661-6886
	 	Facsimile:    (212) 661-6824
	 	Email:  richard@baum.com
	 	 
	 	and
	 	 
	 	Sills Cummis & Gross P.C.
	 	One Riverfront Plaza
	 	Newark, New Jersey 07102
	 	Attn: Ira A. Rosenberg, Esq.
	 	Telephone:  (973) 643-7000
	 	Facsimile:   (973) 643-6500
	 	Email:  irosenberg@sillscummis.com

 

or to such other address as each party
may designate for itself by like notice. Notice to any Holder other than the Purchaser will be delivered as set forth above to
the address shown on the stock transfer books of the Company or the Stock Register unless such Holder has advised the Company in
writing of a different address to which notices are to be sent under this Agreement.

 

Failure or delay in
delivering copies of any notice, demand, request, consent, approval, declaration, or other communication to the persons designated
above to receive copies of the actual notice will in no way adversely affect the effectiveness of such notice, demand, request,
consent, approval, declaration, or other communication.

 

No notice, demand,
request, consent, approval, declaration or other communication will be deemed to have been given or received unless and until it
sets forth all items of information required to be set forth therein pursuant to the terms of this Agreement.

 

		8.9	Successors.

 

This Agreement will
be binding upon and inure to the benefit of the parties and their respective successors and assigns.

 

    	14

    	 

    

 

		8.10	Remedies.

 

The failure of any
party to enforce any right or remedy under this Agreement, or promptly to enforce any such right or remedy, will not constitute
a waiver thereof, nor give rise to any estoppels against such party, nor excuse any other party from its obligations under this
Agreement. Any waiver of any such right or remedy by any party must be in writing and signed by the party against which such waiver
is sought to be enforced.

 

		8.11	Survival.

 

All warranties, representations,
and covenants made by any party in this Agreement or in any certificate or other instrument delivered by such party or on its behalf
under this Agreement will be considered to have been relied upon by the party to which it is delivered and will survive the Closing
Date, the purchase or redemption of the Common Stock and the repayment of the Senior Obligations under the Note Agreement, regardless
of any investigation made by such party or on its behalf; provided that the provisions of Sections 2.4, 2.5, 2.6, 4.1, 4.2, Article
7, Section 8.3 and Section 8.4 of this Agreement shall terminate and be of no force and effect at such time as no Subdebt Shares
are outstanding. All statements in any such certificate or other instrument will constitute warranties and representations under
this Agreement.

 

		8.12	Fees.

 

Any and all customary
out-of-pocket fees, costs, and expenses, of whatever kind and nature, including reasonable attorneys' fees and expenses, incurred
by any Holder in connection with the subject matter of this Agreement, including without limitation, the exercise of put options,
the amendment or modification of this Agreement, or the enforcement of any of its rights arising out of or in connection with this
Agreement, will be borne and paid by the Company within ten (10) days of demand by such Holder.

 

8.13       Counterparts.  This
Agreement may be executed in any number of counterparts, which will individually and collectively constitute one agreement.

 

8.14       Choice
of Law.

 

THIS AGREEMENT WILL
BE DEEMED TO HAVE BEEN MADE IN THE STATE OF DELAWARE, AND WILL BE INTERPRETED AND THE RIGHTS OF THE PARTIES DETERMINED IN ACCORDANCE
WITH THE LAWS OF THE UNITED STATES APPLICABLE THERETO AND THE INTERNAL LAWS OF THE STATE OF DELAWARE APPLICABLE TO AN AGREEMENT
EXECUTED, DELIVERED AND PERFORMED THEREIN WITHOUT GIVING EFFECT TO THE CHOICE-OF-LAW PRINCIPLES THEREOF OR ANY OTHER PRINCIPLE
THAT COULD REQUIRE THE APPLICATION OF THE SUBSTANTIVE LAW OF ANY OTHER JURISDICTION. THE COMPANY FURTHER AGREES THAT ANY LEGAL
ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY MAY BE BROUGHT IN ANY COURT OF THE
STATE OF MICHIGAN, OR IN ANY COURT OF THE UNITED STATES OF AMERICA SITTING IN MICHIGAN, AND THE COMPANY HEREBY SUBMITS TO AND ACCEPTS
GENERALLY AND UNCONDITIONALLY THE JURISDICTION OF THOSE COURTS WITH RESPECT TO ITS PERSON AND PROPERTY, AND IRREVOCABLY CONSENTS
TO THE SERVICE OF PROCESS IN CONNECTION WITH ANY SUCH ACTION OR PROCEEDING BY PERSONAL DELIVERY TO SUCH AGENT OR TO THE COMPANY
OR BY THE MAILING THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID TO THE COMPANY AT ITS ADDRESS SET FORTH IN SECTION
8.8 OF THIS AGREEMENT, SUCH SERVICE TO BE EFFECTIVE AS THE EQUIVALENT OF PERSONAL DELIVERY UPON THE DATE OF MAILING AND SUCH
SERVICE WILL CONSTITUTE PERSONAL SERVICE. NOTHING IN THIS SECTION 8.14 SHALL AFFECT THE RIGHT OF ANY HOLDER TO BRING ANY
SUCH ACTION OR PROCEEDING AGAINST THE COMPANY OR PROPERTY IN THE COURTS OF ANY OTHER JURISDICTION. THE COMPANY HEREBY IRREVOCABLY
WAIVES ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUCH SUIT OR PROCEEDING IN THE ABOVE DESCRIBED COURTS.

 

    	15

    	 

    

 

		8.15	Duties Among Holders

 

Each Holder agrees
that no other Holder will by virtue of this Agreement be under any fiduciary or other duty to give or withhold any consent or approval
under this Agreement or to take any other action or omit to take any action under this Agreement, and that each other Holder may
act or refrain from acting under this Agreement as such other Holder may, in its discretion, elect.

 

		8.16	Certain Terms Defined.

 

(a)       Terms
used in this Agreement and not defined shall have the meanings ascribed thereto below: 

 

Affiliate. This term means any Person
directly or indirectly controlling, controlled by, or under common control with, the Person in question. A Person shall be deemed
to control a corporation if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management
and policies of such corporation, whether through the ownership of voting securities, by contract, or otherwise.

 

Agreement. This term means this
Stock Purchase Agreement, including all schedules and exhibits thereto, as the same may be modified, supplemented, extended and/or
amended from time to time.

 

    	16

    	 

    

 

Appraised Value. This term means
the value determined in accordance with the following procedures. For a period of thirty (30) days after the date of the Valuation
Event (the "Negotiation Period"), each party to this Agreement agrees to negotiate in good faith to reach agreement upon
the Appraised Value of the Subdebt Shares, as of the date of the Valuation Event, which will be the fair market value of such securities
or property, without premium for control or discount for minority interests, illiquidity, or restrictions on transfer. In the event
that the Company and the Holders are unable to agree upon the Appraised Value of the Subdebt Shares by the end of the Negotiation
Period, then the Appraised Value of the Subdebt Shares will be determined for purposes of this Agreement by a recognized appraisal
or investment banking firm mutually agreeable to the Holders and the Company (the "Appraiser") to determine the
fair market value of the Subdebt Shares, without premium for control or discount for minority interests, illiquidity or restrictions
on transfer. If the Holders and the Company cannot agree on an Appraiser, they shall each select an Appraiser, which Appraisers
shall within fifteen (15) days of their respective appointments select a mutually acceptable Appraiser to determine the Fair Market
Value of the Subdebt Shares. Such Appraiser shall be directed to determine Fair Market Value of the Subdebt Shares as soon as practicable,
but in no event later than thirty (30) days from the date of its selection. The determination by an Appraiser of the Fair Market
Value will be conclusive and binding on all parties to this Agreement. Appraised Value of each Subdebt Share at a time when (i)
the Company is not a reporting company under the Exchange Act and (ii) the Common Stock is not traded in the organized securities
markets, will, in all cases, be calculated by determining the Appraised Value of the entire Company taken as a whole and dividing
that value by the sum of (x) the number of shares of Common Stock then outstanding plus (y) the number of shares of Common Stock
Equivalents, without premium for control or discount for minority interests, illiquidity, or restrictions on transfer. The costs
of the Appraiser will be borne equally by the Company and the Holders. To the extent applicable, in no event will the Appraised
Value of the Subdebt Shares be less than the per share consideration received or receivable with respect to the Common Stock of
the same class in connection with a pending transaction involving a sale, merger, recapitalization, reorganization, consolidation,
or share exchange, dissolution of the Company, sale or transfer of all or a majority of its assets or revenue or income generating
capacity, or similar transaction. The prevailing market prices for any security or property will not be dispositive of the Appraised
Value thereof.

 

Appraiser. This term is defined
in the definition of Appraised Value.

 

Average Market Value. This term
means the average of the Closing Price for the security in question for the thirty (30) trading days immediately preceding the
date of determination after deduction for normal transaction costs for selling such securities in such markets.

 

Business Day. This term means each
day of the week except Saturdays, Sundays, and days on which banking institutions are authorized by law to close in the State of
Michigan.

 

Capital Stock. This term means,
as to any Person, its common stock and any other capital stock of such Person authorized from time to time, and any other shares,
options, interests, participations, or other equivalents (however designated) of or in such Person, whether voting or nonvoting,
including, without limitation, common stock, options, warrants, preferred stock, phantom stock, stock appreciation rights, preferred
stock, convertible notes or debentures, stock purchase rights, and all agreements, instruments, documents, and securities convertible,
exercisable, or exchangeable, in whole or in part, into any one or more of the foregoing.

 

Closing Date. This term means the
date on which all of the conditions stated in Article V of the Note Agreement have been met to the Purchaser's satisfaction.

 

Closing Price. This term means:

 

(a)        If
the primary market for the security in question is a national securities exchange registered under the Exchange Act, the National
Association of Securities Dealers Automated Quotation (NASDAQ) Stock Market, or other market or quotation system in which last
sale transactions are reported on a contemporaneous basis, the last reported sales price, regular way, of such security for such
day, or, if there has not been a sale on such trading day, the highest closing or last bid quotation therefor on such trading day
(excluding, in any case, any price that is not the result of bona fide arm's length trading); or

 

    	17

    	 

    

 

(b)        If
the primary market for such security is not an exchange or quotation system in which last sale transactions are contemporaneously
reported, the highest closing or last bona fide bid or asked quotation by disinterested Persons in the over-the-counter market
on such trading day as reported by the National Association of Securities Dealers through its Automated Quotation System or its
successor or such other generally accepted source of publicly reported bid quotations as the Holders designate.

 

Common Stock. This term means common
stock of the Company, par value $ .001 per share

 

Common Stock Equivalent. This term
means any option, warrant, right or similar security exercisable into, exchangeable for, or convertible into Common Stock.

 

Company. This term means UFI Acquisition,
Inc., a Delaware corporation.

 

Exchange Act. This term means the
Securities Exchange Act of 1934, as amended, and the regulations thereunder.

 

Fair Market Value. This term means:
(a) as to securities regularly traded in the organized securities markets, the Average Market Value; and (b) as to all securities
not regularly traded in the securities markets, the fair market value of such securities as determined in good faith by the Board
of Directors of the Company at the time the Holders exercised the Put Option (the "Valuation Event"); provided,
however, that, at the election of the Holders, the Fair Market Value of such securities will be the Appraised Value.

 

Holders. This term means all Persons
holding Subdebt Shares. Unless otherwise provided in the Stockholders Agreement, in each instance that the Holders are required
to request or consent to or agree upon an action, or opt to exercise the Put Option, the Holders will be deemed to have requested
or consented to such action, or opted to exercise the Put Option, if the Holders of a majority-in-interest of the Subdebt Shares
so request, consent or opt.

 

Indemnified Party. This term is
defined in Section 8.1 of this Agreement.

 

IPO. This term means the first firm
commitment underwritten Public Offering of Common Stock to the general public registered under the Securities Act completed by
the Company and resulting in proceeds (before underwriting discounts and commissions) to the Company of at least $30,000,000 and
which results in (i) an aggregate valuation of all of the outstanding shares of Common Stock on a fully diluted basis immediately
after the consummation of such offering of at least $50,000,000 based on the initial offering price to the public in such offering,
(ii) at least twenty-five percent of the Company's outstanding Common Stock being registered, and (iii) the listing of the Company's
Common Stock on a nationally recognized securities exchange.

 

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Negotiation Period. This term is
defined in the definition of Appraised Value.

 

Note Agreement. This term means
the Note Purchase Agreement dated as of the Closing Date between the Company and the Purchaser and all documents evidencing indebtedness
thereunder or otherwise related to the Note Purchase Agreement, as the same may be amended from time to time, and any refinancing,
refunding, or replacements of the indebtedness under the Note Purchase Agreement.

 

Person. This term means any individual,
sole proprietorship, corporation, business trust, unincorporated organization, association, company, partnership, joint venture,
governmental authority (whether a national, federal, state, county, municipality or otherwise, and shall include without limitation
any instrumentality, division, agency, body or department thereof), or other entity.

 

Public Offering. This term means
any firm commitment underwritten public offering of Common Stock to the general public registered under the Securities Act completed
by the Company, including without limitation the IPO.

 

Purchaser. This term means The Peninsula
Fund IV Limited Partnership, a Delaware limited partnership, together with all of their respective transferees, successors and
assigns of all or any portion of the Senior Subordinated Obligations and any nominees on whose behalf any of the foregoing purchase
or otherwise acquire any of such Senior Subordinated Obligations.

 

Put Option. This term is defined
in Section 7.1 of this Agreement.

 

Put Option Closing. This term is
defined in Section 7.5 of this Agreement.

 

Put Option Period. This term is
defined in Section 7.1 of this Agreement.

 

Put Price. This term is defined
in Section 7.2 of this Agreement.

 

Put Shares. This term means the
Subdebt Shares and any Capital Stock issued in exchange therefore.

 

Register, registered, and
registration refer to a registration effected by preparing and filing a registration statement in compliance with the Securities
Act, and the declaration or ordering of the effectiveness of such registration statement.

 

Securities Act. This term means
the Securities Act of 1933, as amended, and the rules and regulations thereunder.

 

Senior Subordinated Note. This term
shall have the meaning set forth in the Note Agreement.

 

Senior Subordinated Obligations.
This term shall have the meaning set forth in the Note Agreement.

 

    	19

    	 

    

 

Stock Register. This term is defined
in Section 2.6 of this Agreement.

 

Stockholders Agreement. This term
means the Stockholders Agreement, dated of even date herewith, among the Company, the Taglich Founding Investors and other Stockholders
of the Company, as amended and modified from time to time.

 

Subsidiary. This term shall have
the meaning set forth in the Note Agreement.

 

Taglich Founding Investors. This
term shall have the meaning set forth in the Stockholders Agreement.

 

Valuation Event. This term is defined
in the definition of Fair Market Value.

 

(b)        Terms
which are defined in other Sections of this Agreement shall have the meanings specified therein. All other terms contained in this
Agreement shall have, when the context so indicates, the meanings provided for by the Uniform Commercial Code as adopted and in
force in the State of Michigan, as from time to time in effect.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

    	20

    	 

    

 

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

 

	 	COMPANY:
	 	 
	 	UFI ACQUISITION, INC.
	 	 
	 	By: 	 
	 	 	Richard L. Baum, Jr.
	 	Its:	President

 

	 	PURCHASER:
	 	 
	 	THE PENINSULA FUND V LIMITED
	 	PARTNERSHIP
	 	 	 
	 	By:	Peninsula Fund V Management L.L.C.
	 	 	Its: General Partner
	 	 	 
	 	By:	Peninsula Capital Partners L.L.C.
	 	 	Its:  Manager
	 	 	 
	 	By:	 
	 	 	Scott A. Reilly
	 	 	President and Chief Investment Officer

 

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TABLE OF CONTENTS

 

	 	 	 	Page
	 	 	 	 
	Article I.	 	 	1
	 	 	 	 
	Article II.	 	 	2
	 	 	 	 
	2.1	 	The Common Stock	2
	 	 	 	 
	2.2	 	Legend	2
	 	 	 	 
	2.3	 	Taxes	2
	 	 	 	 
	2.4	 	Stock Register	3
	 	 	 	 
	2.5	 	Transfer and Exchange	3
	 	 	 	 
	2.6	 	Lost, Stolen, Mutilated, or Destroyed Certificate	3
	 	 	 	 
	Article III.	 	 	4
	 	 	 	 
	3.1	 	Representations and Warranties of the Company	4
	 	 	 	 
	3.2	 	Representations and Warranties of the Purchaser	5
	 	 	 	 
	Article IV.	 	 	5
	 	 	 	 
	4.1	 	Notice	5
	 	 	 	 
	4.2	 	Incorporation of Note Agreement Covenants	6
	 	 	 	 
	4.3	 	[Intentionally Omitted]	7
	 	 	 	 
	4.4	 	Actions Consistent With Agreements.	7
	 	 	 	 
	Article V.	 	 	7
	 	 	 	 
	Article VI.	 	 	7
	 	 	 	 
	Article VII.	 	 	8
	 	 	 	 
	7.1	 	Grant of Option	8
	 	 	 	 
	7.2	 	Put Price	8
	 	 	 	 
	 7.3	 	Exercise of Put Option	8
	 	 	 	 
	7.4	 	Certain Remedies	9
	 	 	 	 
	7.5	 	Put Option Closing	9
	 	 	 	 
	Article VIII.	 	 	10
	 	 	 	 
	8.1	 	Indemnification	10
	 	 	 	 
	8.2	 	Default	11
	 	 	 	 
	8.3	 	Information Covenants	11
	 	 	 	 
	8.4	 	Change of Control	12
	 	 	 	 
	8.5	 	Integration	12

 

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	8.6	 	Headings	12
	 	 	 	 
	8.7	 	Severability	12
	 	 	 	 
	8.8	 	Notices	13
	 	 	 	 
	8.9	 	Successors	14
	 	 	 	 
	8.10	 	Remedies	15
	 	 	 	 
	8.11	 	Survival	15
	 	 	 	 
	8.12	 	Fees	15
	 	 	 	 
	8.13	 	Counterparts	15
	 	 	 	 
	8.14	 	Choice of Law	15
	 	 	 	 
	8.15	 	Duties Among Holders	16
	 	 	 	 
	8.16	 	Certain Terms Defined	16

 

    	ii

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