Document:

Exhibit

Exhibit 10.3
Letter Agreement for Australia/New Zealand
Between
AGCO International GmbH, Neuhausen, Switzerland (“AGCO” 
which expression shall include its successors and assigns)
and
Tractors and Farm Equipment Limited (collectively referred to as 
(“TAFE” which expression shall include its successors and assigns)
1.PURCHASE AND SALE:
TAFE agrees to supply MF Heritage (including 2600 series) tractors from 35HP to 80HP range (appropriate for the market in the territory as mutually agreed upon, between the parties) (“MF Heritage Products”) together with spare parts exclusively to AGCO (or any of its subsidiary/associate companies) for resale in Australia/New Zealand markets (“Territory”) solely through the AGCO distribution network.
AGCO agrees to consider sourcing Centurion Global Series Tractors G1 and G2 (licensed products) from TAFE, India subject to competitive prices.
AGCO agrees to consider sourcing 90 HP to 100 HP tractors developed by TAFE, subject to competitive prices.
TAFE agrees to incorporate in the MF Heritage Products, features, improvements and innovations designed and developed by TAFE that are outside of the MF Heritage Products, in line with the specifications and market needs that are mutually agreed upon between the parties.
                                            

2.    BRAND:
The MF Heritage Products will be sold by AGCO or any of its subsidiary companies in Massey Ferguson brand only with model numbering to be determined by AGCO. Spare parts shall be branded as AGCO. TAFE will not sell MF Heritage Products in TAFE or any other brand in the Territory. TAFE shall comply with all instructions issued by AGCO relating to the form and the manner in which AGCO trademarks shall be used and shall discontinue immediately upon notice from AGCO any practice relating to the use of AGCO trade marks in the Territory. TAFE shall obtain no rights in/to the Massey Ferguson trade marks in the Territory.
3.    NATURE OF ARRANGEMENT:
The arrangement between the parties shall be exclusive for MF Heritage Products. The parties agree that they shall not have any similar arrangements with any other person during the currency of this Letter Agreement for sale of tractors within the Territory save that this arrangement shall not cover any tractors built in AGCO proprietary sites or supported by other AGCO brands.
In the event of AGCO deciding to source the MF Heritage Products from its own manufacturing locations, it shall serve upon TAFE 60 days’ notice in writing of its intent to do so. Within 120 days of receipt of such notice, TAFE shall have the option to terminate this Letter Agreement by the issue of three months’ notice in writing.
4.    PROCEDURES AND PRICE:
TAFE will supply and invoice MF Heritage Products to AGCO free on board (Indian Port). Shipment of products and spare parts shall be directly to appropriate AGCO Australia /New Zealand centres. Payment shall be made by AGCO within 60 days from bill of lading in U S Dollars.
                                            

5.    REVIEW: 
AGCO and TAFE will form an “Operational Review” team with two members nominated from each party, which shall, on a monthly basis, review performance, forecasting, orders and fulfillment, etc. A “Steering Committee”, with senior level participants of both parties shall review at quarterly basis the progress of business.
6.    OTHER TERMS AND CONDITIONS:
TAFE and AGCO agree that the terms and conditions such as conditions of Sale Standards of Quality, Parts, Warranty and After Sales Responsibilities are mutually agreed in a separate agreement named “Terms and Conditions agreed between Tractors and Farm Equipment Limited (“TAFE”) and AGCO Corporation (“AGCO”) for Heritage Tractors dated 29th October 2009”.
7.    INDIAN LINE OF CREDIT BUSINESS:
TAFE would be solely responsible for India Line of Credit business in these markets. Where direct invoicing is mandatory, the payment of commission and dealer margins to AGCO to be mutually agreed to.
8.    TERM AND TERMINATION:
		
	a)
	This agreement shall be deemed to have come into effect on 1st March 2015 and shall be valid for a period of 5 years (this is upto Feb.2020) unless terminated by either party giving 2 years (two years) prior written notice of termination to the other party except in circumstances mentioned in clause 8 (b) below. Thereafter this Letter Agreement may be renewed by mutual consent for a further period of five years.

		
	b)
	This Letter Agreement may be terminated at TAFE’s sole discretion by the issue of three months’ notice in writing, in the event of AGCO issuing to TAFE 60 days’ notice also in writing of its intention to source the MF Heritage Products from its own manufacturing locations as stated in Clause 3 above.

		
	c)
	In the event of change in beneficial ownership or control of AGCO or TAFE, the respective other party shall have the option to terminate this Letter Agreement by giving six months written notice.

	
		
	M/s. Tractors and Farm Equipment Limited
	M/s. AGCO International GmbH

	By:/s/ Mallika Srinivasan
	By: /s/ Frédéric Devienne

	 
	Vice President Finance, EME &APA

	Its Authorised signatory
	Its Authorised signatory

	Date: 14th July 2017
	Date: 19th July 2017, Neuhausen

	          Chennai
	 

	 
	 

	 
	By:/s/ R.N. Batkin

	 
	Its Authorised signatory

	 
	Date: 24th July 2017Exhibit

Exhibit 10.4
Amendment to the Letter Agreement for Africa 
between 
AGCO International GmbH, Neuhausen, Switzerland 
(“AGCO” which expression shall include its successors and assigns) 
and 
Tractors and Farm Equipment Limited 
(“TAFE” which expression shall include its successors and assigns)
AGCO and TAFE hereby agree to amend certain provisions of the Letter Agreement for Africa previously signed on 29.10.2009 (“Letter Agreement for Africa”) as follows:
1.In the first line of Para — 1 under the caption “PURCHASE AND SALE” for the existing words “tractors 45HP to 105 HP range”, the same shall be replaced with the words “tractors 45 HP to 85 HP range”.
2.    In the first paragraph of Clause 1, the word “Africa” shall be replaced with “Angola, Kenya, Malawi, Morocco, Nigeria and South Africa” such that the term “Territory” used in the Letter Agreement for Africa shall mean Angola, Kenya, Malawi, Morocco, Nigeria and South Africa.
3.    All the amendments shall be applicable from the date on which this amended agreement is executed by the parties.
All references to the term “Phase 1 Markets” shall be replaced with the term “Territory”. 
                                        

4.    The following paragraphs and clauses shall be deleted:
		
	a.
	The second paragraph of Clause 1 commencing “In the first phase” to “upon signing this agreement”,

		
	b.
	in the third paragraph of Clause 1, all words other than “TAFE will continue its existing operations in other territories of Africa”;

		
	c.
	Clauses 6.b and 6.c;

		
	d.
	Clause 7.c;

5.    The following paragraph shall be added at the end of Clause 4:
“AGCO agrees not to purchase MF Heritage tractors from Millat Tractors Limited for sale into the Territory which are proven to contain, and which AGCO is made aware contain, patents or designs solely developed as well as commercially implemented by TAFE into MF Heritage tractors (including MF2600 series) in the range of 35 to 85 HP and which patents or designs have not been licensed, directly or indirectly, to Millat Tractors Limited.”
6.    Apart from the amendments to the Letter Agreement for Africa stated herein, all other provisions of the Letter Agreement for Africa shall be valid and binding on AGCO and TAFE.
	
		
	M/s. Tractors and Farm Equipment Limited
	M/s. AGCO International GmbH

	By:/s/ Mallika Srinivasan
	By: /s/ Frédéric Devienne

	 
	Vice President Finance, EME &APA

	Its Authorised signatory
	Its Authorised signatory

	Place: Chennai
	Place: Neuhausen

	Date: 14th July 2017
	Date: 19th July 2017

	 
	 

	 
	/s/ R.N. Batkin

	 
	24th July 2017EX-10.1

 Exhibit 10.1 
  

			
	

	 	 Bill Griffiths

Chairman, President &
 Chief
Executive Officer

  
  

1800 West Loop South 
 Suite 1500 

Houston, Texas 77027 
 Main: 713-961-4600 

CONFIDENTIAL 
 July 21, 2017 

George Wilson 
 129 Howard Drive 

Dover, OH 44622 
 Dear George, 

I am pleased to offer you the position of Vice President – Chief Operating Officer for Quanex Building Products Corporation (Company), reporting directly
to me, effective on August 1, 2017 (“Effective Date”). Responsibilities of this position will be consistent with what was discussed with you during our several meetings. 

Your total compensation will include the following: 
  

	 	1.	Base Salary. Your base salary will be $17,307.69 paid bi-weekly (annualized at $450,000). 

  

	 	2.	Annual Incentive Award (AIA). The AIA target for your position will be 75% of your base salary and a maximum of 150%. You will receive a pro-rated FY 2017 Award calculated based on this new target level/base
salary and the corporate officer full year AIA calculation multiplied by 25% plus the calculation as set forth in your FY 2017 AIA Award Agreement for the full year at your current target level/base salary pro-rated by multiplying by 75%.

  

	 	3.	Long Term Incentive Award (LTI). You will also be eligible to continue to receive a Long Term Incentive Award in December 2017 based upon approval of the Compensation and Management Development Committee.
Currently, the LTI target for your position is 110% of your base salary. The Long Term Incentive Award for the VP – COO position is targeted at 200% of your base salary. The LTI award is comprised of grants from the Omnibus Incentive Plan that
typically include a mix of options, restricted stock and Performance Shares. The Performance Shares have historically been based on the Company achieving a certain level of Earnings per Share growth and Relative Total Shareholder Return results
against our peer group over a three year period. 

  

	 	4.	Stock ownership. You will have 3 years from your date of promotion to accumulate 250% of your base salary in Quanex shares. 

  

	 	5.	Benefits. You will be entitled to the level of benefits that you are currently participant in today. 

  

	 	6.	Change in Control. As an Officer of Quanex Building Products Corporation you will be eligible for protection under the provision of the Corporate Change in Control Agreement. 

 

	 	a.	The Change in Control Agreement provides for a “double trigger.” First a change in control of Quanex Building Products Corporation must occur. Generally a change in control would occur if an unrelated person
purchased 20 percent or more of Quanex Building Products Corporation’s outstanding stock. Second, your employment must be terminated by the acquiring organization for other than cause, or you must resign for “good reason” as defined
in the Change in Control Agreement. 

 www.quanex.com 

	 	b.	The Change in Control Agreements provides that in the event you become entitled to benefits under the agreement that you would receive two and half (2.5) times your base salary and annual incentive (defined as max
of the target annual incentive or the actual annual incentive from the previous year), so long as the benefits do not exceed IRC Section 280G limits. This means that in the event change in control severance benefits exceed the IRC 280G limits,
you will receive either the net benefits after the excise tax is calculated, or the benefits will be cut back to the point that they do not exceed the limits, whichever is greater. 

 

	 	c.	Examples of “good reason” defined in the Change in Control Agreement include: (1) when the common stock of Quanex Building Products Corporation or the entity into which Quanex Building Products
Corporation is merged is no longer being actively traded on the New York Stock Exchange; and (2) the “relocation of the executive’s principal office outside the portion of the metropolitan area of the City of Houston, Texas that is
located within the Highway known as ‘Beltway 8’.” 

  

	 	7.	Relocation. Quanex will reimburse you for reasonable expenses associated with your move to Houston up to a maximum of $120,000. Included expenses can be travel expenses, incidental moving and closing costs. The
process will be administered by Weichert Relocation Services. Please contact Kevin Delaney to initiate the process. The relocation benefit expires on July 31, 2018. 

 

	 	8.	Principal Office. The Quanex Building Products Corporation corporate headquarters, located at 1800 West Loop South, Suite 1500 Houston, Texas 77027 will be your principal office. 

Your entitlement to any of the benefits outlined herein is contingent on your continued employment at the time. Your employment may be terminated by either
you or Quanex Building Products Corporation at any time. This agreement is governed by the laws of the State of Texas. 
 George, I believe that you will
help provide the leadership we need to meet the long-term needs of our team to deliver the operational results our owners deserve. I look forward to working with you in your new role. 

Sincerely, 
 /s/ Bill Griffiths 

Bill Griffiths 
 Chairman, President & Chief Executive
Officer 
  

					
	ACCEPTANCE OF OFFER	  		 	
			
	 /s/ George Wilson
	  		 	 7/24/2017

	George Wilson	  		 	Date

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