Document:

Exhibit 10.2

  

  

  

  
    EMPLOYMENT AGREEMENT

    THIS EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of the fifth (5th) day of June 2019 by and among Jordan Dubow, a citizen of the United States currently residing at 424 Madison Avenue, Glencoe, Illinois 60022 (the “Executive”), and Avadel Management Corporation, a Delaware corporation with a principal office located at 16640 Chesterfield Grove Road, Suite 200, Chesterfield, Missouri
        63005 (the “Company”).  The Company is an indirect wholly owned subsidiary of Avadel Pharmaceuticals plc, an Irish public limited company with a principal office
        located at Block 10-1, Blanchardstown Corporate Park, Ballycoolin, Dublin 15 Ireland (“Avadel plc”).

    W I T N E S S E T H

    WHEREAS, the Executive began his employment with the Company as of April 29, 2019 (the “Effective Date”), and the Executive and the Company wish to set forth in this Agreement the terms of such employment.

    NOW, THEREFORE, in consideration of the mutual agreements and covenants set forth herein, and
        for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

                              1.                EMPLOYMENT TERMS

    1.1 Position.

    (a) Positions.  The Executive shall serve as the Chief
        Medical Officer of Avadel plc and as the Chief Medical Officer of the Company, and shall carry out such work as may be reasonably required by the Company in connection with the business of Avadel plc and the Company consistent with such positions
        and the terms and conditions of this Agreement.  The Executive shall work from his residence in the Chicago metropolitan area, with frequent travel as may be requested by the Company to fulfill the Executive’s job responsibilities, including
        regular trips to the Company’s headquarters (currently in Chesterfield, Missouri); the reasonable costs associated with such travel will be reimbursed by the Company.  The Executive will devote substantially all of the Executive’s business time,
        attention and efforts to Avadel plc and the Company and during such time the Executive will make the best use of his energy, knowledge and training for the purpose of advancing the interests of Avadel plc and the Company.  Except as may be
        otherwise expressly authorized in writing by the Chief Executive Officer of Avadel plc, during his employment with the Company the Executive will accept no other employment nor serve as an officer, director or principal of any other company or
        organization (other than a member of the Avadel Group of Companies (as hereinafter defined).  Notwithstanding the foregoing, the Executive may engage in religious, charitable or other community activities (which may include service as a board
        member of a religious, charitable or other not-for-profit organization) as long as such activities do not interfere with the Executive’s performance of his duties to or with respect to Avadel plc and each of its direct or indirect subsidiaries
        including the Company (collectively, the “Avadel Group of Companies”).  The Executive will comply with all written policies of the Avadel Group of Companies to the
        extent applicable to the Executive.

     

      

    
      
        

    

    
    (b) Reporting.  In his capacities as the Chief Medical
        Officer of Avadel plc and the Company, the Executive shall report directly to the Company’s Chief Executive Officer, currently Gregory J. Divis.

    1.2 Citizenship Status.  It is the intent of the parties
        that, at all times during the Executive’s employment with the Company, he will remain a citizen of the United States.

    1.3 Duration.  The duration of the Executive’s employment
        commenced as of the Effective Date and shall continue under the terms and condition of this Agreement for one (1) year following the Effective Date, with this Agreement automatically renewing thereafter for successive periods of one (1) year unless
        the Executive or the Company provides written notice to the other of his or its intention not to renew the Agreement at least thirty (30) days prior to the next upcoming expiration date.  At the termination of this Agreement, the Executive’s
        employment with the Company shall terminate simultaneously.

                              2.                COMPENSATION; BENEFITS

    2.1 Base Salary.  The Company shall pay to the Executive
        a gross annual base salary of Four Hundred Thirty-Five Thousand Dollars ($435,000) per year, paid on a semi-monthly basis and subject to ordinary and lawful deductions.  The Company will review the Executive’s base salary on or about the first of
        every calendar year, and, in the Company’s sole discretion, make any increases that the Company deems warranted.  If the Executive’s base salary is increased, the new increased base salary will be the base salary for purposes of this Agreement.

    2.2 Bonus.  The Executive shall be eligible for a
        potential annual bonus with a target payment of no less than forty-five percent (45%) of the Executive’s base salary based upon the Executive’s achievement of certain business and individual performance objectives as well as the performance of
        Avadel plc against its objectives as determined by the Company.  For the calendar year 2019, the amount of any earned bonus will be pro-rated based on the Effective Date. Subject to the requirement that the Executive shall be employed by a member
        of the Avadel Group of Companies on the date of payment, any bonus payments due hereunder shall be paid to the Executive no later than the last day of the calendar year following the applicable year to which the annual bonus relates, subject to
        ordinary and lawful deductions.

    2.3 Stock Options and Additional Equity Grants. Upon
        approval of the Company’s Board of Directors, the Executive will be awarded 340,000 stock options that will vest in equal twenty-five percent (25%) installments on each of the first four (4) anniversaries of the date of this Agreement and will be
        subject to the terms of a stock option agreement in substantially the form specified by the Avadel plc 2017 Omnibus Incentive Compensation Plan. The Executive will also be eligible to participate in future equity awards which may be granted to
        executive management, based upon company and individual performance, at the sole discretion of the Company’s Board of Directors.

     

      

    
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    2.4 Insurance and Benefits.

    (a) Plan Participation.  The Company shall facilitate the
        participation by the Executive and his family in medical, health, vision, dental, hospitalization, term life, and workers compensation insurance, long-term disability, short-term disability, and 401k savings plan programs of the Company, to the
        extent now existing or hereafter established, that are generally made available to executives or employees of the Company, in each case according to the terms and conditions (including eligibility requirements) of such plans or programs.  Under
        current policies, the Company pays 85% annually toward employee medical (United Healthcare) coverage, plus 70% of dependent medical coverage; 85% employee coverage for dental insurance (Principal); optional vision coverage (Eyemed); and a $1000
        annual corporate contribution to a health savings account (HSA) (if such medical insurance is elected).  The Executive acknowledges that the current insurance plans and Company policies are subject to changes at the business discretion of the
        Company.

    (b) Vacation and Paid Time Off.  The Executive shall be
        eligible for vacation of twenty (20) days per year which shall be accrued or earned each month and which will be pro-rated for the 2019 calendar year.  The Executive shall also be entitled to the Company’s usual and customary holidays, including
        two (2) floating holidays per year and corporate holidays (of which there are eleven (11) scheduled during 2019) to be taken in accordance with the normal Company paid vacation and time-off policies. The Company also grants the Executive five (5)
        sick days annually which shall be pro-rated for 2019.

    (c) Indemnification; General Liability.

    	 	
                  (i) To the fullest extent permitted by applicable law, the Company, its receiver, or its trustee shall indemnify,
                defend, and hold the Executive harmless from and against any expense, loss, damage, or liability incurred or connected with any claim, suit, demand, loss, judgment, liability, cost, or expense (including reasonable attorneys’ fees) arising
                from or related to the services performed by him under the terms of this Agreement and amounts paid in settlement of any of the foregoing; provided that the same were not the result of the Executive’s fraud, gross negligence, or reckless or
                intentional misconduct.  The Company may advance to the Executive the costs of defending any claim, suit, or action against him if he undertakes to repay the funds advanced, with interest, should it later be determined that he is not
                entitled to indemnification under this Section 2.4(c).

             

              

          	 
	 	
                  (ii) The Company shall provide coverage to the Executive for his general liability, director and officer liability,
                and professional liability insurance at the same levels and on the same terms as provided to its other executive officers.

          	 

    

    

    

    

    
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    2.5 Reimbursement of Expenses.  The Company shall
        reimburse the Executive, subject to presentation of adequate substantiation, including receipts, for the reasonable travel, entertainment, lodging and other business expenses incurred by the Executive in accordance with the Company’s expense
        reimbursement policy in effect at the time such expenses are incurred. In no event will such reimbursements, if any, be made later than the last day of the year following the year in which the Executive incurs the expense.

                              3.               TERMINATION AND SEVERANCE

    3.1 Termination.

    (a) Nothing in this Agreement shall prevent the Company from terminating the Executive’s employment with the Company at any time, with or
        without “Cause.”  “Cause” means: (i) conviction of the Executive of, or
        the Executive’s plea of nolo contendere to, a felony or crime involving moral turpitude; (ii) fraud, theft, or misappropriation by the Executive of any asset or
        property of any member of the Avadel Group of Companies, including, without limitation, any theft or embezzlement or any diversion of any corporate opportunity; (iii) breach by the Executive of any of the material obligations contained in this
        Agreement; (iv) conduct by the Executive materially contrary to the material policies of any member of the Avadel Group of Companies; (v) material failure by the Executive to meet the goals and objectives established by any member of the Avadel
        Group of Companies; provided that the Executive has failed to cure such failure within a reasonable period of time after written notice to him regarding such failure; or (vi) conduct by the Executive that results in a material detriment to any
        member of the Avadel Group of Companies, or its program, or goals or that is inimical to its reputation and interest; provided that the Executive has failed to cure such failure within a reasonable period of time after written notice to him
        regarding such conduct.  Any reoccurrence of such acts constituting Cause within one (1) year of the original occurrence will require no such pre-termination right of the Executive to cure.

    (b) The Executive may terminate the Executive’s employment with the Company with or without “Good Reason”. “Good Reason” means, without the Executive’s consent, any of the following: (i) the failure of the Company to timely pay to the Executive any compensation owed to him under this Agreement; (ii) the Company’s diminution in the Executive’s
        authority, duties or responsibilities with respect to Avadel plc or the Company in any material respect or the Company’s assignment to the Executive of duties or responsibilities that are materially inconsistent with the Executive’s position with
        Avadel plc or the Company as stated in this Agreement; (iii) a change in the location of the Executive’s employment which increases the Executive’s one-way commute by more than sixty (60) miles; (iv) a material breach by the Company of this
        Agreement; or (v) the failure of the Company to have this Agreement assumed in full by any successor in the case of any merger, consolidation, or sale of all or substantially all of the assets of Avadel plc or the Company.

    (c) In the event that the Executive desires to resign from the Company, he shall promptly give the Company written notice of the date that
        such resignation will be effective, provided that the notice period shall be no less than thirty (30) days.  In the event that the Executive desires to resign from the Company for Good Reason, he shall provide the Company with written notice
        setting forth the acts constituting Good Reason within ninety (90) days of the initial occurrence of the Good Reason condition and providing that the Company may cure such acts within thirty (30) days of receipt of such notice.  If such condition
        is not remedied within such thirty- (30-) day cure period, any termination of employment by the Executive for “Good Reason” must occur within ninety (90) days after the period for remedying such condition has expired.

     

      

    
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    (d) In the event that the Company desires to terminate the Executive’s employment, with or without Cause, the Company shall give the
        Executive written notice thereof at least thirty (30) days prior to the date that such termination will be effective.

    (e) The Executive’s employment shall terminate automatically upon the Executive’s death.  If the Company determines that the Executive is
        subject to an Incapacity (as hereinafter defined), the Company may terminate the Executive’s employment and this Agreement effective upon the Executive’s Incapacity.  “Incapacity”
        shall mean the inability of the Executive to perform the essential functions of the Executive’s job, with or without reasonable accommodation, for a period of 90 days in the aggregate in any 180-day period.

    3.2 Severance.  If the Executive terminates this
        Agreement and his employment with the Company for Good Reason or if the Executive’s employment with the Company is terminated by the Company for any reason other than for Cause, including non-renewal of this Agreement by the Company (but not
        including any circumstances that would give rise to a payment to the Executive pursuant to Section 3.3(a) hereof), the Company shall pay severance to the Executive as follows:

    	 	
                 (i) severance pay in an amount equal to 1.0 times the Executive’s then-current annual base salary, such
                amount to be paid in a one-time installment; and

             

          	 
	 	
                 (ii) if the Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of
                1985, as amended (“COBRA”), then the Company each month will pay for the Executive’s COBRA premiums for such coverage (at coverage levels in effect immediately prior to the Executive’s termination) until the earlier of: (A) the expiration
                of a period of twelve (12) months from the date of termination or (B) the date upon which the Executive becomes covered under similar plans of any subsequent employer or is otherwise ineligible for COBRA.

          	 

    

    

    All payments set forth in the foregoing items (i) and (ii) hereof are defined as the “Severance Indemnity.”  The Executive’s receipt of the foregoing Severance Indemnity is conditioned upon his execution and delivery to the Company of a separation and release agreement
        acceptable to the Company governing the termination of the employment relationship between the Executive and the Company and the Executive’s release of all claims against all members of the Avadel Group of Companies and their employees, officers,
        directors and contractors, and allowing the applicable revocation period required by law to expire without revoking or causing revocation of same, within sixty (60) days following the date of termination of the Executive’s employment.  Any
        Severance Indemnity payments that the Executive would otherwise be entitled to receive prior to the time the aforementioned release becomes effective and irrevocable shall be accumulated and paid in a lump sum after the release becomes effective
        and irrevocable; and if the permissible period during which the Executive may execute and deliver the release and during which the applicable revocation period could expire spans more than one calendar year, any payments that the Executive is
        entitled to receive during such period shall be accumulated and paid in a lump sum only in the subsequent calendar year.

     

      

    
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    3.3 Change of Control.

    (a) If the Executive terminates this Agreement and his employment with the Company for Good Reason or if the Executive’s employment with
        the Company is terminated by the Company for any reason other than for Cause, including non-renewal of this Agreement by the Company, and such termination occurs during a Change of Control Period (as hereinafter defined), then, in lieu of a payment
        to the Executive pursuant to Section 3.2 above, upon such termination:

    	 	
               (i) the Company shall pay to the Executive a change of control indemnity in an amount equal to 1.0 times
                the Executive’s then-current annual base salary, such amount to be paid in a one-time installment, and

             

          	 
	 	
               (ii) if the Executive elects continuation coverage pursuant to COBRA, then the Company each month will pay
                for the Executive’s COBRA premiums for such coverage (at coverage levels in effect immediately prior to the Executive’s termination) until the earlier of: (A) the expiration of a period of twelve (12) months from the date of termination or
                (B) the date upon which the Executive becomes covered under similar plans of any subsequent employer or is otherwise ineligible for COBRA.

             

          	 

    

    

    (b) For avoidance of doubt, the amount paid to the Executive pursuant to Section 3.3(a) hereof (x) will be in lieu of, and not in addition to, any amount that would otherwise be payable to the Executive under Section 3.2 hereof, and (y) will not be prorated based on the actual amount of time the Executive is employed by the Company during the fiscal year (or during the relevant performance period if different than a
        fiscal year) in which the applicable termination occurs.  Notwithstanding any other provision in any applicable equity compensation plan and/or individual stock option plan or agreement, after any termination as described in Section 3.3(a) hereof,
        the Executive’s outstanding and vested stock options as of the Executive’s termination of employment date will remain exercisable until the eighteen (18) month anniversary of the termination of employment date; provided, however, that the post-termination exercise period for any individual stock option right will not
        extend beyond its original maximum term as of the original date of the grant.  All payments and benefits set forth in items (i) and (ii) of Section 3.3(a) hereof are defined as the “Change of Control Indemnity.”

    (c) The Executive’s receipt of the foregoing Change of Control Indemnity is conditioned upon his execution and delivery to the Company of a
        separation and release agreement acceptable to the Company governing the termination of the employment relationship between the Executive and the Company and the Executive’s release of all claims against all members of the Avadel Group of Companies
        and their employees, officers, directors and contractors, and allowing the applicable revocation period required by law to expire without revoking or causing revocation of same, within sixty (60) days following the date of termination of the
        Executive’s employment.  Any payments that the Executive would otherwise be entitled to receive prior to the time the aforementioned release becomes effective and irrevocable shall be accumulated and paid in a lump sum after the release becomes
        effective and irrevocable, and if the permissible period during which the Executive may execute and deliver the release and during which the applicable revocation period could expire spans more than one calendar year, any payments that the
        Executive is entitled to receive during such period shall be accumulated and paid in a lump sum only in the subsequent calendar year.

     

      

    
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    3.4 Change of Control Definitions.  For purposes of
        Section 3.3 above, the following definitions shall apply:

    (a) “Change of Control” means the occurrence of any of
        the following events:

    	 	
                 (i) a change in the ownership of Avadel plc, Avadel US Holdings, Inc. or the Company which occurs on the
                date that any one person, or more than one person acting as a group (“Person”), acquires ownership of equity interests of Avadel plc, Avadel US Holdings, Inc. or the Company that, together with the other equity interests held by such
                Person, constitute more than fifty percent (50%) of the total voting power of the equity interests of Avadel plc, Avadel US Holdings, Inc. or the Company (as applicable); provided, however, that for purposes of this subsection, the
                acquisition of additional equity interests by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the equity interests of Avadel plc, Avadel US Holdings, Inc. or the Company (as applicable)
                will not be considered a Change or Control; or

             

          	 
	 	
                 (ii) a change in the effective control of Avadel plc, Avadel US Holdings, Inc. or the Company which
                occurs on the date that a majority of the members of the Board of Directors of Avadel plc, Avadel US Holdings, Inc. or the Company (as applicable) is replaced during any twelve (12) month period by directors whose appointment or election is
                not endorsed by a majority of the members of the Board of Directors of Avadel plc, Avadel US Holdings, Inc. or the Company (as applicable) prior to the date of the appointment or election.  For purposes of this subsection (ii), if any
                Person is considered to be in effective control of Avadel plc, Avadel US Holdings, Inc. or the Company (as applicable), the acquisition of additional control of Avadel plc, Avadel US Holdings, Inc. or the Company (as applicable) by the same
                Person will not be considered a Change of Control; or

             

          	 
	 	
                 (iii) a change in the ownership of a substantial portion of the assets of Avadel plc, Avadel US Holdings, Inc. or the
                Company (as applicable) which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from Avadel plc, Avadel US
                Holdings, Inc. or the Company (as applicable) that have a total gross fair market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of Avadel plc, Avadel US Holdings, Inc. or the
                Company (as applicable) immediately prior to such acquisition or acquisitions.

          	 

    

    

    Notwithstanding the foregoing, the Change in Control must constitute a change in ownership, effective control or
        substantial portion of the assets of Avadel plc, Avadel US Holdings, Inc. or the Company (as applicable) within the meaning of Section 409A of the Code.

     

      

    
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    (b)  “Change of Control Period” means the period
        beginning six (6) months prior to, and ending eighteen (18) months following, a Change of Control.

    3.5 Other Termination.  If the Executive terminates this
        Agreement and his employment with the Company other than for Good Reason or if the Executive’s employment with the Company is terminated by the Company for Cause or as the result of the Executive’s Incapacity, or the Executive dies while employed
        by the Company, the Company shall pay to the Executive (or, after the Executive’s death, his estate) all accrued or awarded but unpaid bonuses for any completed fiscal year and vacation pay, expense reimbursement and other benefits due to the
        Executive under any Company-provided benefit plans, policies and arrangements, with such accrued but unpaid bonuses for any completed fiscal year and vacation pay and expense reimbursements payable no later than thirty (30) days after the date of
        termination of employment (sooner to the extent the bonus is payable prior to such time) and any other benefits payable in accordance with the applicable terms of the benefit plans, policies and arrangements.

    3.6 Resignations.  Notwithstanding any other provision of
        this Agreement, the Executive agrees to resign, as soon as administratively practicable, from any and all positions held with all members of the Avadel Group of Companies, at the time of termination of the Executive’s employment with any member of
        the Avadel Group of Companies.

    4. RESTRICTIVE COVENANTS

    4.1 Confidentiality.

    (a) Restriction.  To the fullest extent permitted under
        applicable law, at all times during the Executive’s employment by the Company and for a period of five (5) years after termination of the Executive’s employment with the Company, the Executive (i) shall hold in strictest confidence all Restricted
        Information (as hereinafter defined), (ii) shall not directly or indirectly use, copy, disclose or otherwise distribute any Restricted Information, except for the benefit of a member of the Avadel Group of Companies to the extent necessary to
        perform his obligations to Avadel plc and the Company under this Agreement, and (iii) shall not disclose any Restricted Information to any person, firm, corporation or other entity without written authorization of the Chief Executive Officer or
        Board of Directors of Avadel plc.  Any breach of any provision of this Section 4.1(a) shall be considered a material breach of this Agreement.

    (b) Definitions.  As used in this Section 4, the
        following terms shall have the meanings set forth below:

    	 	
                (i)  “Restricted Information” means any Confidential Information (as hereinafter defined) and any Trade
                Secrets (as hereinafter defined).

             

          	 
	 	
                (ii)  “Confidential Information” means any information of or about any member of the Avadel Group of
                Companies, and any of the employees, customers and/or suppliers of any member of the Avadel Group of Companies, which is not generally known outside of the Avadel Group of Companies, which the Executive obtains (whether before, on or after
                the date of this Agreement) in connection with the Executive’s employment with the Company, and which may be useful to any competitor of the Avadel Group of Companies or the disclosure of which would be damaging to any member of the Avadel
                Group of Companies.  Confidential Information includes, but is not limited to, any and all of the following information about any member of the Avadel Group of Companies: (A) information about products, product candidates, and research and
                development plans, activities and results (including information about planned and in-process clinical trials); (B) information about business and employment policies, marketing methods and the targets of those methods, finances, business
                plans, promotional materials and price lists; (C) the manner or terms upon which products or services are obtained from suppliers or on which products or services are provided to customers; (D) without duplication of item (A) above, the
                nature, origin, composition, performance and development of any products or services; (E) information about finances, financial condition, results of operations and prospects; and (F) information about employees, consultants or customers or
                suppliers.  For the avoidance of doubt, Confidential Information shall not include information that (1) is or has been made generally available to the public through the disclosure thereof in a manner that was authorized by the Company and
                did not violate any common law or contractual right of the applicable party; (2) is or becomes generally available to the public other than as a result of a disclosure by the Executive in violation of the provisions hereof; or (3) was
                already in the possession of the Executive without an obligation of confidentiality prior to the date his employment with the Company began.

             

          	 
	 	
                (iii) “Trade Secret” means any Confidential Information to the extent such information constitutes a trade secret under
                applicable law.

          	 

    

    

    

    

    
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    (c) Certain Permitted Disclosures.  Notwithstanding the
        foregoing, the Executive will not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a Trade Secret that (i) is made (A) in confidence to a Federal, State or local government official, either
        directly or indirectly, or to an attorney, and (B) solely for purposes of reporting or investigating a suspected violation of law, or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding filed in a lawsuit or other
        proceeding, if such filing is made under seal.  If the Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, the Executive may disclose the Trade Secret to the Executive’s attorney and use the Trade
        Secret in the court proceeding, if the Executive (i) files any document containing the Trade Secret under seal and (ii) does not disclose the Trade Secret, except pursuant to court order.

    4.2 Non-Disparagement.  The Executive agrees not to
        disparage or otherwise refer to any member of the Avadel Group of Companies or any of their executives, officers or directors in an unfavorable manner before, during and after the term of the Executive’s employment with the Company, including
        verbal remarks in public or private and written remarks in paper or electronic format (e.g., e-mail, Twitter, Facebook, etc).  Violation of this
        provision will result in termination of the Executive’s Employment and any benefits paid hereunder.  The Company, together with all other members of the Avadel Group of Companies, and their executive officers and directors, agree not to disparage
        or otherwise refer to the Executive in an unfavorable manner before, during and after the term of the Executive’s employment with the Company, including verbal remarks in public or private and written remarks in paper or electronic format (e.g., e-mail, Twitter, Facebook, etc).

    4.3 Non-Solicitation of Employees and Contractors. 
        During the Executive’s employment with the Company and for a period of one (1) year after the termination of the Executive’s employment with the Company, the Executive shall not directly or indirectly solicit or attempt to solicit any employee,
        consultant or other contractor of or service provider to any member of the Avadel Group of Companies with whom the Executive had Material Contact to perform services for the Executive or for any other business or entity, whether as an executive,
        consultant, partner or participant in any such business or entity, or to terminate or lessen any such employee’s, consultant’s or other contractor’s service with any member of the Avadel Group of Companies.  “Material Contact” means contact in person, by telephone, or by paper or electronic correspondence in furtherance of the business of any member of the Avadel Group of Companies.  This Section 4.3 shall
        cease to be applicable to any activity of the Executive from and after such time as all members of the Avadel Group of Companies have ceased all business activities or have made a decision to cease all business activities.

    4.4 Non-Solicitation of Customers and Suppliers.  During
        the Executive’s employment with the Company and for a period of one (1) year after the termination of the Executive’s employment with the Company, the Executive shall not directly or indirectly solicit any actual or prospective customers or
        suppliers of any member of the Avadel Group of Companies with whom the Executive had material contact, for the purpose of selling any products or services which compete with the business of any member of the Avadel Group of Companies. This Section
        4.4 shall cease to be applicable to any activity of the Executive from and after such time as all members of the Avadel Group of Companies have ceased all business activities or have made a decision to cease all business activities.

     

      

    
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    4.5 Protected Rights.  Notwithstanding any other
        provision of this Agreement, the Company and the Executive hereby acknowledge and agree that:

    	 	
                (i)  Nothing in this Agreement shall prohibit the Executive from reporting possible violations of
                Federal, State or other law or regulations to, or filing a charge or other complaint with, any governmental agency or entity, including but not limited to the Department of Justice, the Equal Employment Opportunity Commission, the National
                Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission, Congress, and any Inspector General, or making any other disclosures that are protected under any whistleblower provisions of
                Federal, State or other law or regulation or assisting in any such investigation or proceeding.

             

          	 
	 	
                (ii)  Nothing herein limits the Executive’s ability to communicate with any such governmental agency or
                entity or otherwise participate in any such investigation or proceeding that may be conducted by any such governmental agency or entity, including providing documents or other information, without notice to the Company.

             

          	 
	 	
                (iii)  The Executive does not need the prior authorization of the Company to make any such reports or
                disclosures, and the Executive is not required to notify the Company that the Executive made any such reports or disclosures or is assisting in any such investigation.

             

          	 
	 	
                (iv)  The Executive (A) does not waive any rights to any individual monetary recovery or other awards in
                connection with reporting any such information to any such governmental agency or entity, (B) does not breach any confidentiality or other provision hereunder in connection with any such reporting or disclosures, and (C) will not be
                prohibited from receiving any amounts hereunder as the result of making any such reports or disclosures or assisting with any such investigation or proceeding.

             

          	 

    

    

    5. MISCELLANEOUS

    5.1 Entire Agreement.  This Agreement (including any
        exhibits hereto) supersedes any and all other understandings and agreements, either oral or in writing, among the parties (including affiliates of the Company) with respect to the subject matter hereof and constitutes the sole agreement among the
        parties with respect to the subject matter hereof.

    5.2 Severability.  If any term or provision of this
        Agreement or any application of this Agreement shall be declared or held invalid, illegal, or unenforceable, in whole or in part, whether generally or in any particular jurisdiction, such provision shall be deemed amended to the extent, but only to
        the extent, necessary to cure such invalidity, illegality, or unenforceability, and the validity, legality, and enforceability of the remaining provisions, both generally and in every other jurisdiction, shall not in any way be affected or impaired
        thereby.

     

      

    
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    5.3 Survival.  Notwithstanding any expiration or
        termination of this Agreement, Section 2.3 hereof, Section 2.5(c) hereof, Section 3 hereof, Section 4 hereof and this Section 5 shall survive such expiration or termination.

    5.4 Interpretation of Agreement.

    (a) Unless otherwise indicated to the contrary herein by the context or use thereof: (i) the words, “herein,” “hereto,” “hereof,” and words
        of similar import refer to this Agreement as a whole and not to any particular Article, Section, subsection, or paragraph hereof; (ii) words importing the masculine gender shall include the feminine and neuter genders and vice versa; and (iii)
        words importing the singular shall include the plural, and vice versa.

    (b) All parties to this Agreement have participated in the drafting and negotiation of this Agreement.  This Agreement has been prepared by
        all parties equally, and is to be interpreted according to its terms.  No inference shall be drawn that the Agreement was prepared by or is the product of any particular party or parties.

    5.5 Taxes.

    (a) The parties hereto acknowledge that the requirements of Section 409A of the Internal Revenue Code (“Section 409A”) are still being
        developed and interpreted by government agencies and that the parties hereto have made a good faith effort to comply with current guidance under Section 409A.  Notwithstanding anything in this Agreement to the contrary, in the event that amendments
        to this Agreement are necessary in order to continue to comply with future guidance or interpretations under Section 409A, including amendments necessary to ensure that compensation will not be subject to tax under Section 409A (which may require
        deferral of severance or other compensation), the Company and the Executive agree to negotiate in good faith the applicable terms of such amendments and to implement such negotiated amendments, on a prospective and/or retroactive basis as needed. 
        Further, to the extent any amount or benefit under this Agreement is subject to the requirements of Section 409A, then, with respect to such amount or benefit, this Agreement will be interpreted in a manner to comply with the requirements of
        Section 409A.

    (b) Further, a termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for
        the payment of any amounts or benefits upon or as a result of a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A and, for purposes of any such provision of this Agreement,
        references to a “termination”, “termination of employment”, “Termination Date”, or the like shall mean “separation from service”.

     

      

    
      11

      
        

    

    (c) For purposes of this Agreement, all rights to payments and benefits hereunder shall be treated as rights to receive a series of
        separate payments and benefits to the fullest extent allowed by Section 409A of the Code.

    (d) If the Executive is a key employee (as defined in Section 416(i) of the Code without regard to paragraph (5) thereof) and any of
        Avadel’s securities are publicly traded on an established securities market or otherwise, then payment of any amount or provision of any benefit under this Agreement which is considered deferred compensation subject to Section 409A of the Code
        shall be deferred for six (6) months after termination of Executive’s employment or, if earlier, Executive’s death, if and as required by Section 409A(a)(2)(B)(i) of the Code (the “409A Deferral Period”).  In the event such payments are otherwise
        due to be made in installments or periodically during the 409A Deferral Period, the payments which would otherwise have been made in the 409A Deferral Period shall be accumulated and paid in a lump sum as soon as the 409A Deferral Period ends, and
        the balance of the payments shall be made as otherwise scheduled.  In the event benefits are required to be deferred, any such benefit may be provided during the 409A Deferral Period at the Executive’s expense, with the Executive having a right to
        reimbursement from the Company once the 409A Deferral Period ends, and the balance of the benefits shall be provided as otherwise scheduled.

    (e) To the extent that some portion of the payments under this Agreement may be bifurcated and treated as exempt from Code Section 409A
        under the “short-term deferral” or “separation pay” exemptions, then such amounts shall be so treated as exempt from Code Section 409A (and in particular, the earliest amounts to be paid under Section 3 of the Agreement will be first treated as
        exempt from Code Section 409A under the short-term deferral exemption and then the separation pay exemption to the extent available).

    (f) Any reimbursements, in-kind benefits or offset provided under this Agreement that constitutes deferred compensation under Code Section
        409A shall be made or provided in accordance with the requirement of Code Section 409A, including, where applicable, the requirement that (i) any reimbursement is for expense incurred during the period of time specified in this Agreement, (ii) the
        amount of expense eligible for reimbursement, or in-kind benefits, provided during a calendar year may not affect the expense eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year, (iii) the reimbursement of an
        eligible expense will be made no later than the last day of the calendar year following the calendar in which the expense is incurred, and (iv) the right to reimbursement or in-kind benefits is not subject to liquidation of exchange for another
        benefit.

    (g) The Company makes no warranty regarding the tax treatment to the Executive of payments provided for under this Agreement, including the
        tax treatment of such payments that may be subject to Section 409A.  The Executive will be responsible for paying all federal, state, and local income and employment taxes that may be due on such payment, provided that the Company will be
        responsible for any withholding obligations under applicable law.  The Company will not be liable to the Executive if any payment or benefit which is to be provided pursuant to this Agreement and which is considered deferred compensation subject to
        Code Section 409A otherwise fails to comply with, or be exempt from, the requirements of Code Section 409A.

     

      

    
      12

      
        

    

    5.6 Mandatory Reduction of Payments in Certain Events. 
        Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment or distribution by the Company to or for the benefit of Executive (whether paid or payable or distributed or distributable pursuant to
        the terms of this Agreement or otherwise) (a “Payment”) would be subject to the excise tax (the “Excise Tax”) imposed by Section 4999 of the Code, then, prior to the making of any Payment to Executive, a calculation shall be made comparing (i) the
        net benefit to Executive of the Payment after payment of the Excise Tax to (ii) the net benefit to Executive if the Payment had been limited to the extent necessary to avoid being subject to the Excise Tax.  If the amount calculated under (i) above
        is less than the amount calculated under (ii) above, then the Payment shall be limited to the extent necessary to avoid being subject to the Excise Tax (the “Reduced Amount”).  In that event, cash payments shall be modified or reduced first from
        the latest amounts to be paid and then any other benefits.  The determination of whether an Excise Tax would be imposed, the amount of such Excise Tax, and the calculation of the amounts referred to in clauses (i) and (ii) of the foregoing sentence
        shall be made by an independent accounting firm selected by Company and reasonably acceptable to the Executive, at the Company’s expense (the “Accounting Firm”), and the Accounting Firm shall provide detailed supporting calculations.  Any
        determination by the Accounting Firm shall be binding upon the Company and the Executive.  As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it
        is possible that Payments which Executive was entitled to, but did not receive pursuant to this Section 5.6 could have been made without the imposition of the Excise Tax (“Underpayment”).  In such event, the Accounting Firm shall determine the
        amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of the Executive.

    5.7 Governing Law.  Notwithstanding the place where this Agreement may be executed by any of the parties hereto, the parties expressly agree that all of the terms and provisions hereof shall be construed in
        accordance with and governed by the laws of the State of Missouri, or, to the extent applicable the laws of the United States of America, in each case without giving effect to the principles of choice or conflicts of laws thereof.  Each of the
        parties hereto consents and agrees to the exclusive personal jurisdiction of any state or federal court sitting in the State of Missouri, and waives any objection based on venue or forum non conveniens with respect to any action instituted therein, and agrees that any dispute concerning the conduct of any party in connection with this Agreement shall be heard only in the courts described above.

    5.8 Binding Arbitration.

    (a) All disputes arising under this Agreement or arising out of or relating to the Executive’s employment relationship with the Company
        shall be submitted to final and binding arbitration.  Arbitration of such matters shall proceed consistent with the National Rules for the Resolution of Employment Disputes as established by the American Arbitration Association (“AAA”).  Venue for any arbitration shall be St.  Louis, Missouri or any other location mutually agreed upon by the Executive and the Company.

     

      

    
      13

      
        

    

    (b) The arbitration shall be conducted using the Expedited Procedures of the AAA Rules, regardless of the amount in dispute.

    (c) The disputing parties shall agree on an arbitrator qualified to conduct AAA arbitration.  If the disputing parties cannot agree on the
        choice of arbitrator, then each party shall choose one independent arbitrator.  The two arbitrators so chosen shall jointly select a third arbitrator, who shall conduct the arbitration.

    (d) All disputes relating to this Agreement shall be governed by the laws of the State of Missouri, and the arbitrator shall apply such law
        without regard to the principles of choice or conflicts of laws thereof.

    (e) All aspects of the arbitration shall be treated as confidential.

    (f) The prevailing party, as determined by the arbitrator, shall recover from the other party his or its reasonable costs and attorneys’
        fees associated with the arbitration no later than thirty (30 days after the arbitration becomes final and binding.  The non-prevailing party shall also be liable for the arbitrator’s fees and costs.

    (g) The decision of the arbitrator shall be final, and the parties agree to entry of such decision as judgments in all courts of
        appropriate jurisdiction.

    5.9 Amendments.  This Agreement shall not be modified or
        amended except by a writing signed by all of the parties.

                              5.10           Binding  Effect.  This Agreement shall be binding upon and shall inure to the benefit of the successors and assigns of each party hereto.

                              5.11           No Assignment.

    (a) This Agreement and all of the Executive’s rights and obligations hereunder are personal to the Executive and may not be transferred or
        assigned by him at any time, except that any assets accruing to the Executive in connection with this Agreement shall accrue to the benefit of the Executive’s heirs, executors, administrators, successors, permitted assigns, trustees, and legal
        representatives.

    (b) The Company may assign its rights under this Agreement to any entity that assumes the Company’s obligations hereunder in connection
        with a merger, consolidation or sale or transfer of all or substantially all of the Company’s assets to such entity.

     

      

    
      14

      
        

    

                              5.12           Waiver.  Any of the terms or conditions of this Agreement may be waived at any time by the party or parties entitled to the benefit thereof,
        but only by a writing signed by the party or parties waiving such terms or conditions.  No waiver of any provision of this Agreement or of any right or benefit arising hereunder shall be deemed to constitute or shall constitute a waiver of any
        other provision of this Agreement (whether or not similar), nor shall any such waiver constitute a continuing waiver, unless otherwise expressly so provided in writing.

                              5.13           Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall
        constitute one and the same instrument.  Signatures on this Agreement may be conveyed by facsimile or other electronic transmission and shall be binding upon the parties so transmitting their signatures.  Counterparts with original signatures shall
        be provided to the other parties following the applicable facsimile or other electronic transmission; provided, that failure to provide the original counterpart shall have no effect on the validity or the binding
        nature of this Agreement.

    [Signature page follows]

    
      15

      
        

    

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

    

    

    THE COMPANY

    AVADEL MANAGEMENT CORPORATION

    By:  /s/ Michael F. Kanan                                        

        Name: Michael F. Kanan

        Title: Treasurer

      

    

    

    THE EXECUTIVE

    

    

    /s/ Jordan Dubow                                                     

      

    Name: Jordan DubowEX-10.1

 Exhibit 10.1 

EXECUTION COPY 
 AMENDMENT
NO. 2 
 Dated as of May 31, 2019 

to 
 THIRD AMENDED AND RESTATED
CREDIT AGREEMENT 
 Dated as of November 3, 2017 

THIS AMENDMENT NO. 2 (this “Amendment”) is made as of May 31, 2019 by and among Chart Industries, Inc., a Delaware
corporation (the “Company”), Chart Industries Luxembourg S.à r.l., a private limited liability company (société à responsabilité limitée), incorporated under the laws of Luxembourg,
having its registered office at 2, rue des Dahlias, L-1411 Luxembourg and registered with the Luxembourg Trade and Companies Register under number B 148.907 (“Chart Luxembourg”), Chart Asia Investment Company Limited, a private
limited company incorporated under the laws of Hong Kong with company number 1174361 and having its registered office address at 31/F., Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong (“Chart Hong Kong” and,
together with the Company and Chart Luxembourg, the “Borrowers”), the financial institutions listed on the signature pages hereof and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”),
under that certain Third Amended and Restated Credit Agreement dated as of November 3, 2017 by and among the Borrowers, the Lenders and the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement. 

WHEREAS, the Company has requested that the requisite Lenders and the Administrative Agent agree to a certain amendments to the Credit
Agreement; 
 WHEREAS, the Borrowers, the Lenders party hereto and the Administrative Agent have agreed to amend the Credit Agreement on the
terms and conditions set forth herein; 
 NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions
contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrowers, the Lenders party hereto and the Administrative Agent hereby agree to enter into this Amendment. 

1. Amendments to the Credit Agreement. The parties hereto agree that, effective as of the date of satisfaction of the conditions
precedent set forth in Section 2 below, the Credit Agreement shall be amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined
text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the pages of the Credit Agreement attached as Annex A hereto.

 2. Conditions of Effectiveness. The effectiveness of this Amendment (the “Amendment Effective Date”) is subject to
the following conditions precedent: 
 (a) The Administrative Agent shall have received counterparts of this Amendment duly executed by the
Borrowers, the Required Lenders and the Administrative Agent. 

 (b) The Administrative Agent shall have received counterparts of the Consent and
Reaffirmation attached as Exhibit A hereto duly executed by the Subsidiary Loan Parties. 
 (c) The Administrative Agent shall have
received for the account of each Lender that delivers its executed signature page to this Amendment by no later than the date and time specified by the Administrative Agent, an amendment fee in an amount equal to the applicable amount previously
disclosed to the Lenders. 
 (d) The Administrative Agent shall have received payment and/or reimbursement of the Administrative Agent’s
and its affiliates’ fees and expenses (including, to the extent invoiced, reasonable and documented fees and expenses of counsel for the Administrative Agent) in connection with this Amendment and the Loan Documents. 

3. Representations and Warranties of the Borrowers. Each Borrower hereby represents and warrants as follows: 

(a) This Amendment and the Credit Agreement as modified hereby constitute legal, valid and binding obligations of such Borrower and are
enforceable in accordance with their terms, subject to (i) the effects of bankruptcy, insolvency, examinership, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally,
(ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (iii) implied covenants of good faith and fair dealing. 

(b) As of the date hereof and after giving effect to the terms of this Amendment, (i) no Event of Default or Default has occurred and is
continuing and (ii) the representations and warranties of such Borrower set forth in Article III of the Credit Agreement, as amended hereby, are true and correct in all material respects (or in all respects if the applicable
representation or warranty is qualified by Material Adverse Effect or other materiality qualifier), except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall
be true and correct in all material respects (or in all respects if the applicable representation or warranty is qualified by Material Adverse Effect or other materiality qualifier) as of such earlier date). 

4. Reference to and Effect on the Credit Agreement. 

(a) Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean and be
a reference to the Credit Agreement as amended hereby. 
 (b) Each Loan Document and all other documents, instruments and agreements executed
and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 
 (c) The execution,
delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement, the Loan Documents or any other
documents, instruments and agreements executed and/or delivered in connection therewith. 
 (d) This Amendment is a Loan Document under (and
as defined in) the Credit Agreement. 

  
 2 

 5. Governing Law; Jurisdiction. This Amendment shall be construed in accordance with
and governed by the laws of the State of New York. Each Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in the Borough of
Manhattan, and of the United States District Court for the Southern District of New York sitting in the Borough of Manhattan, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Amendment or any
other Loan Document, 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 such New
York State or, to the extent permitted by law, in such federal court. 
 6. Headings. Section headings in this Amendment are included
herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 
 7. Counterparts.
This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed counterpart of
a signature page of this Amendment by telecopy, e-mailed.pdf or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Amendment. 

[Signature Pages Follow] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective authorized officers as of the day and year first above written. 
  

			
	CHART INDUSTRIES, INC.,
	as the Company
		
	By:	 	/s/ Jeffrey R. Lass
	Name: Jeffrey R. Lass
	Title: VP, CFO, CAO, Treasurer
	
	CHART INDUSTRIES LUXEMBOURG S.À R.L., as a Foreign Borrower
		
	By:	 	/s/ Jillian Case Harris
	Name: Jillian Case Harris
	Title: Class B Director
		
	By:	 	/s/ Nicolas Schreurs
	Name: Nicolas Schreurs
	Title: Class A Director
	
	 CHART ASIA INVESTMENT COMPANY LIMITED,

as a Foreign Borrower

		
	By:	 	/s/ Jillian Case Harris
	Name: Jillian Case Harris
	Title: Director
		
	By:	 	/s/ Johannes Albertus Lonsain
	Name: Johannes Albertus Lonsain
	Title: Director

 Signature Page to Amendment No. 2 to 

Third Amended and Restated Credit Agreement dated as of November 3, 2017 

Chart Industries, Inc. 

 
			
	JPMORGAN CHASE BANK, N.A.,
	individually as a Lender, as the Swingline Lender, as the Issuing Bank and as Administrative Agent
		
	By:	 	/s/ John Kushernick
	Name: John Kushnerick
	Title: Executive Director

 Signature Page to Amendment No. 2 to 

Third Amended and Restated Credit Agreement dated as of November 3, 2017 

Chart Industries, Inc. 

 
			
	BANK OF AMERICA, N.A.,
	as a Lender
		
	By:	 	/s/ Ryan Maples
	Name: Ryan Maples
	Title: Sr. Vice President

 Signature Page to Amendment No. 2 to 

Third Amended and Restated Credit Agreement dated as of November 3, 2017 

Chart Industries, Inc. 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	as a Lender
		
	By:	 	/s/ Andrew Gentles
	Name: Andrew Gentles
	Title: Senior Vice President

 Signature Page to Amendment No. 2 to 

Third Amended and Restated Credit Agreement dated as of November 3, 2017 

Chart Industries, Inc. 

 
			
	PNC BANK, NATIONAL ASSOCIATION,
	as a Lender
		
	By:	 	/s/ Jeffrey Mills
	Name: Jeffrey Mills
	Title: Vice President

 Signature Page to Amendment No. 2 to 

Third Amended and Restated Credit Agreement dated as of November 3, 2017 

Chart Industries, Inc. 

 
			
	MORGAN STANLEY BANK, N.A.,
	as a Lender
		
	By:	 	/s/ Megan Kushner
	Name: Megan Kushner
	Title: Authorized Signatory

 Signature Page to Amendment No. 2 to 

Third Amended and Restated Credit Agreement dated as of November 3, 2017 

Chart Industries, Inc. 

 
			
	CITIZENS BANK, N.A.,
	as a Lender
		
	By:	 	/s/ Karmyn Paul
	Name: Karmyn Paul
	Title: Vice President

 Signature Page to Amendment No. 2 to 

Third Amended and Restated Credit Agreement dated as of November 3, 2017 

Chart Industries, Inc. 

 
			
	MUFG UNION BANK, N.A.,
	as a Lender
		
	By:	 	/s/ George Stoecklein
	Name: George Stoecklein
	Title: Managing Director

 Signature Page to Amendment No. 2 to 

Third Amended and Restated Credit Agreement dated as of November 3, 2017 

Chart Industries, Inc. 

 EXHIBIT A 

Consent and Reaffirmation 

Each of the undersigned hereby acknowledges receipt of a copy of the foregoing Amendment No. 2 to the Third Amended and Restated Credit
Agreement (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), dated as of November 3, 2017, by and among Chart Industries, Inc., a Delaware corporation (the
“Company”), Chart Industries Luxembourg S.à r.l., a private limited liability company (société à responsabilité limitée), incorporated under the laws of Luxembourg (“Chart
Luxembourg”), Chart Asia Investment Company Limited, a private limited company incorporated under the laws of Hong Kong (“Chart Hong Kong” and, together with the Company and Chart Luxembourg, the
“Borrowers”), the Lenders and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”), which Amendment No. 2 is dated as of May 31, 2019 and is by and among the Borrowers, the
financial institutions listed on the signature pages thereof and the Administrative Agent (the “Amendment”). Capitalized terms used in this Consent and Reaffirmation and not defined herein shall have the meanings given to them in
the Credit Agreement. Without in any way establishing a course of dealing by the Administrative Agent or any Lender, each of the undersigned consents to the Amendment and reaffirms the terms and conditions of the Collateral Agreement and any other
Loan Document executed by it and acknowledges and agrees that the Collateral Agreement and each and every such Loan Document executed by the undersigned in connection with the Credit Agreement remains in full force and effect and is hereby
reaffirmed, ratified and confirmed. All references to the Credit Agreement contained in the above-referenced documents shall be a reference to the Credit Agreement as so modified by the Amendment and as the
same may from time to time hereafter be amended, modified or restated. 
 Dated May 31, 2019 

[Signature Page Follows] 

 IN WITNESS WHEREOF, this Consent and Reaffirmation has been duly executed and delivered as
of the day and year above written. 
  

			
	 CHART INC.
 CHART ENERGY &
CHEMICALS, INC.
 CHART INTERNATIONAL HOLDINGS, INC.
 CHART
ASIA, INC.
 CHART INTERNATIONAL, INC.
 CHART COOLER SERVICE
COMPANY, INC.
 THERMAX, INC.
 RCHPH HOLDINGS, INC.

HUDSON PRODUCTS HOLDINGS INC.
 HUDSON PARENT CORPORATION

HUDSON PRODUCTS CORPORATION
 COFIMCO USA, INC.

HUDSON PRODUCTS MIDDLE EAST LLC
 SKAFF, LLC

SKAFF CRYOGENICS, INC.
 PREFONTAINE PROPERTIES, INC.

CRYO-LEASE, LLC
 E&C FINFAN, INC.

each as a Guarantor and Subsidiary Loan

Party (in each capacity)

		
	By:	 	/s/ Jeffrey R. Lass
	Name: Jeffrey R. Lass
	Title: VP, CFO, Treasurer

 Signature Page to Consent and Reaffirmation to Amendment No. 2 to 

Third Amended and Restated Credit Agreement dated as of November 3, 2017 

Chart Industries, Inc. 

 ANNEX A 

Attached 

					
	 SECTION 6.14. Designated Senior Debt
	  	 	100	 
		
	ARTICLE VII	  			
	EVENTS OF DEFAULT	  			
	 SECTION 7.01. Events of Default
	  	 	101	 
	 SECTION 7.02. Exclusion of Immaterial Subsidiaries
	  	 	103	 
		
	ARTICLE VIII	  			
	THE ADMINISTRATIVE AGENT	  			
		
	ARTICLE IX	  			
	MISCELLANEOUS	  			
		
	 SECTION 9.01. Notices
	  	 	109	 
	 SECTION 9.02. Survival of Agreement
	  	 	111	 
	 SECTION 9.03. Integration; Binding Effect
	  	 	111	 
	 SECTION 9.04. Successors and Assigns
	  	 	111	 
	 SECTION 9.05. Expenses; Indemnity
	  	 	116	 
	 SECTION 9.06. Right of Set-off
	  	 	118	 
	 SECTION 9.07. Applicable Law
	  	 	118	 
	 SECTION 9.08. Waivers; Amendment
	  	 	118	 
	 SECTION 9.09. Interest Rate Limitation
	  	 	120	 
	 SECTION 9.10. Entire Agreement
	  	 	120	 
	 SECTION 9.11. WAIVER OF JURY TRIAL
	  	 	120	 
	 SECTION 9.12. Severability
	  	 	121	 
	 SECTION 9.13. Counterparts
	  	 	121	 
	 SECTION 9.14. Headings
	  	 	121	 
	 SECTION 9.15. Jurisdiction; Consent to Service of Process
	  	 	121	 
	 SECTION 9.16. Confidentiality
	  	 	122	 
	 SECTION 9.17. [Intentionally Omitted]
	  	 	123	 
	 SECTION 9.18. Release of Liens and Guarantees
	  	 	123	 
	 SECTION 9.19. U.S. Patriot Act
	  	 	123	 
	 SECTION 9.20. Judgment
	  	 	124	 
	 SECTION 9.21. Termination or Release
	  	 	124	 
	 SECTION 9.22. Pledge and Guarantee Restrictions
	  	 	124	 
	 SECTION 9.23. No Fiduciary Duty
	  	 	125	 
	 SECTION 9.24. Acknowledgement and Consent to Bail-In of EEA Financial Institutions
	  	 	125	 
		
	ARTICLE X	  			
	COMPANY GUARANTEE	  			

  

			
	Exhibits and Schedules
		
	Exhibit A	  	Form of Assignment and Acceptance
	Exhibit B	  	[Intentionally Omitted]
	Exhibit C-1	  	Form of Borrowing Request
	Exhibit C-2	  	Form of Swingline Borrowing Request
	Exhibit D	  	Form of Mortgage
	Exhibit E	  	Form of Collateral Agreement
	Exhibit F	  	Form of Solvency Certificate
	Exhibit F-2	  	Form of AXC Trigger Date Solvency Certificate

  
 iii 

 THIRD AMENDED AND RESTATED CREDIT AGREEMENT dated as of November 3, 2017 (this
“Agreement”), among CHART INDUSTRIES, INC., a Delaware corporation, CHART INDUSTRIES LUXEMBOURG S.À R.L., a private limited liability company (société à responsabilité limitée),
incorporated under the laws of Luxembourg, having its registered office at 2, rue des Dahlias, L-1411 Luxembourg and registered with the Luxembourg Trade and Companies Register under number B 148.907, CHART ASIA INVESTMENT COMPANY LIMITED, a private
limited company incorporated under the laws of Hong Kong with company number 1174361 and having its registered office address at 36/F., Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong, the LENDERS from time to time party hereto,
JPMORGAN CHASE BANK, N.A. as Administrative Agent and BANK OF AMERICA, N.A., FIFTH THIRD BANK, WELLS FARGO BANK, NATIONAL ASSOCIATION and PNC BANK, NATIONAL ASSOCIATION, as Co-Syndication Agents. 

The parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS 

SECTION 1.01. Defined Terms. As used in this Agreement, the following terms shall have the meanings specified below: 

“2018 Senior Subordinated Notes” shall mean the Company’s 2.00% Convertible Senior Subordinated Notes due 2018 issued
pursuant to the Senior Subordinated Note Indenture. 
 “2024 Senior Subordinated Notes” shall mean the Company’s 1.00%
Convertible Senior Subordinated Notes due 2024 issued pursuant to the Senior Subordinated Note Indenture. 
 “ABR
Borrowing” shall mean a Borrowing comprised of ABR Loans. 
 “ABR Loan” shall mean any ABR Revolving Loan or
Swingline Loan. 
 “ABR Revolving Facility Borrowing” shall mean a Borrowing comprised of ABR Revolving Loans. 

“ABR Revolving Loan” shall mean any Revolving Facility Loan bearing interest at a rate determined by reference to the
Alternate Base Rate in accordance with the provisions of Article II. 
 “Acquisition-Related Incremental Term Loans” has
the meaning assigned to such term in Section 2.20. 
 “Adjusted Covenant Period” has the meaning assigned to such term
in Section 6.12(a) or Section 6.12(b), as applicable. 

“Adjusted LIBO Rate” shall mean, with respect to any Eurocurrency Borrowing for any Interest Period, an interest rate per
annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

“Administrative Agent” shall mean JPMorgan (including its branches and affiliates), in its capacity as administrative agent
for the Lenders hereunder. 

  
 1 

 NYFRB Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change
in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate, respectively. If the Alternate Base Rate is being used as an alternate rate of interest pursuant to Section 2.14 hereof, then the Alternate Base Rate shall be the greater of clause
(a) and (b) above and shall be determined without reference to clause (c) above. For the avoidance of doubt, if the Alternate Base Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Alternative Rate” has the meaning assigned to such term in Section 2.14(a). 

“Amendment No. 1 Effective Date” means October 26, 2018. 

“Amendment No. 2 Effective Date” means May 31, 2019

 “Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Company or its
Affiliates from time to time concerning or relating to bribery or corruption. 
 “Applicable Margin” shall mean, for any
day with respect to any Eurocurrency Loan and any ABR Loan, and with respect to the Commitment Fees payable hereunder, as the case may be, the applicable rate per annum set forth below under the caption “Eurocurrency Spread”, “ABR
Spread” or “Commitment Fee Rate”, as the case may be, based upon the Leverage Ratio applicable on such date: 
  

									
	 	  	Leverage Ratio:	  	Eurocurrency
Spread	 	ABR
Spread	 	Commitment
Fee Rate
	 Category 1:
	  	< 1.50 to 1.00	  	1.50%	 	0.50%	 	0.20%
	 Category 2:
	  	> 1.50 to 1.00 but
 < 2.00 to 1.00
	  	1.75%	 	0.75%	 	0.25%
	 Category 3:
	  	> 2.00 to 1.00 but
< 2.50 to 1.00	  	2.00%	 	1.00%	 	0.30%
	 Category 4:
	  	> 2.50 to 1.00 but
< 3.00 to 1.00	  	2.25%	 	1.25%	 	0.35%
	 Category 5:
	  	> 3.00 to 1.00	  	2.50%	 	1.50%	 	0.375%

 For purposes of the foregoing, (1) the Leverage Ratio shall be determined as of the end of each fiscal
quarter of the Company’s fiscal year based upon the consolidated financial information of the Company and its Subsidiaries delivered pursuant to Section 5.04(a) or (b) and (2) each change in the Applicable Margin resulting from a
change in the Leverage Ratio shall be effective on the first Business Day after the date of delivery to the Administrative Agent of such consolidated financial information indicating such change and ending on the date immediately preceding the
effective date of the next such change; provided that until the Trigger Date, the Leverage Ratio shall be deemed to be in Category 5; provided further that the Leverage Ratio shall be deemed to be in Category 5 at the option of
the Administrative Agent or the Required Lenders, at any time during which the Company fails to deliver the consolidated financial information when required to be delivered pursuant to Section 5.04(a) or (b), during the period from the
expiration of the time for delivery thereof until such consolidated financial information is delivered. 
 “Approved Fund”
shall have the meaning assigned to such term in Section 9.04(b). 

  
 3 

 “Asset Acquisition” shall mean any Permitted Business Acquisition, the
aggregate consideration for which exceeds U.S.$10.0 million. 
 “Asset Disposition” shall mean any sale, transfer or other
disposition by the Company or any Subsidiary to any Person other than the Company or any Subsidiary to the extent otherwise permitted hereunder of any asset or group of related assets (other than inventory or other assets sold, transferred or
otherwise disposed of in the ordinary course of business) in one or a series of related transactions, the net cash proceeds from which exceed U.S.$10.0 million. 

“Assignment and Acceptance” shall mean an assignment and acceptance agreement entered into by a Lender and an assignee, and
accepted by the Administrative Agent and the Company (if required by such assignment and acceptance), in the form of Exhibit A or such other form as shall be approved by the Administrative Agent. 

“Availability Period” shall mean the period from and including the Closing Date to but excluding the earlier of the Maturity
Date and the date of termination of the Revolving Facility Commitments. 
 “Available Unused Commitment” shall mean, with
respect to a Lender, at any time of determination, an amount equal to the amount by which (a) the Revolving Facility Commitment of such Lender at such time exceeds (b) the Revolving Facility Credit Exposure of such Lender at such time.

 “AXC Acquisition” means the acquisition of the AXC Business
by the Company (through its Subsidiary E&C FinFan, Inc. (or another Wholly Owned Subsidiary of the Company that is a Domestic Subsidiary and a party to the Collateral Agreement and which Subsidiary has taken an assignment of E&C
FinFan’s rights (or has otherwise assumed the rights of E&C FinFan) in a manner reasonable satisfactory to the Administrative Agent under the AXC Acquisition Agreement pursuant to the terms of thereof) pursuant to the AXC Acquisition
Agreement. 
 “AXC Acquisition Agreement” means the Asset
Purchase Agreement, dated as of May 8, 2019 (together with all exhibits, schedules and disclosure letters thereto), by and among Harsco, E&C FinFan, Inc. and the Company. 

“AXC Acquisition Agreement Representations” means such of the
representations made by or on behalf of or with respect to the AXC Business in the AXC Acquisition Agreement as are material to the interests of the Lenders, but only to the extent that the accuracy of any such representation is a condition to the
Company’s (or any of its Subsidiaries’ or Affiliates’) obligations to close the AXC Acquisition under the AXC Acquisition Agreement or the Company (or any of its Subsidiaries or Affiliates) has the right to terminate the
Company’s (or any of its Subsidiaries’ or Affiliates’) obligations under the AXC Acquisition Agreement or decline to consummate the AXC Acquisition as a result of a breach of such representations in the AXC Acquisition
Agreement. 
 “AXC Business” means Harsco’s Industrial
Air-X-Changers business (including designing, manufacturing, servicing, repairing and selling air-cooled heat exchanges and related repair parts). 

“AXC Expiration Date” means the earliest of (i) 5:00 p.m., New York
City time, on the date that is five (5) Business Days after February 8, 2020 (as such date may be extended pursuant to Section 9.1(b) of the AXC Acquisition Agreement as in effect on May 8, 2019), (ii) the closing of the AXC
Acquisition with or without the use of any of the Loans under this Agreement, (iii) the public announcement of the abandonment of the AXC Acquisition by the Company (or any of its Subsidiaries or Affiliates) and (iv) the termination of the AXC
Acquisition Agreement prior to closing of the AXC Acquisition or the termination of the Company’s (or any of its Subsidiaries’ or Affiliates’) obligations under the AXC Acquisition Agreement to consummate the AXC Acquisition in
accordance with the terms thereof. 

  
 4 

 “AXC Incremental Term
Loans” means Incremental Term Loans advanced by certain Lenders (that have agreed to do so pursuant to the terms of Section 2.20) on the AXC Trigger Date, the proceeds of which are used solely to fund the AXC Acquisition and AXC
Transaction Costs. 
 “AXC Revolving Facility Loans” means
Revolving Facility Loans advanced by the Lenders (that have Revolving Facility Commitments) on the AXC Trigger Date, the proceeds of which are used solely to fund the AXC Acquisition and AXC Transaction Costs. 

“AXC Transaction Costs” means any fees, costs or expenses incurred or
paid by the Company or any Subsidiary in connection with the AXC Transactions. 

“AXC Transactions” means (a) the consummation of the AXC Acquisition
and the other transactions contemplated by the AXC Acquisition Agreement, (b) the AXC Trigger Date Release and (c) the payment of the fees, costs and expenses incurred in connection with any of the foregoing. 

“AXC Trigger Date” means the date on which the conditions specified in
Section 4.03 are satisfied (or waived in accordance with Section 4.03). 

“AXC Trigger Date Release” means the termination and release of all
security interests on assets acquired by the Company in the AXC Acquisition other than Liens permitted by Sections 6.02 (d) through (k), (m), (o) through (t) and (v) through (y). 

“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in
respect of any liability of an EEA Financial Institution. 
 “Bail-In Legislation” means, with respect to any EEA Member
Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation
Schedule. 
 “Banking Services” shall mean each and any of the following bank services provided to the Company or any
Subsidiary by any Lender or any of its Affiliates: (a) credit cards for commercial customers (including, without limitation, commercial credit cards and purchasing cards), (b) stored value cards, (c) merchant processing services and
(d) treasury management services (including, without limitation, controlled disbursement, automated clearinghouse transactions, return items, any direct debit scheme or arrangement, overdrafts and interstate depository network services). 

“Banking Services Obligations” shall mean any and all obligations of the Company or any Subsidiary, whether absolute or
contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor) in connection with Banking Services. 

  
 5 

 “Bankruptcy Event” means, with respect to any Person, such Person becomes
the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business
appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy
Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, unless such ownership interest results in or provides such Person
with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow
or disaffirm any contracts or agreements made by such Person. 
 “Base L/C Amount” has the meaning assigned to such term in
the definition of “L/C Sublimit”. 
 “Beneficial Ownership
Certification” means a certification regarding beneficial ownership or control as required by the Beneficial Ownership Regulation. 

“Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.

 “BHC Act Affiliate” of a party means an “affiliate’
(as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party. 
 “Board”
shall mean the Board of Governors of the Federal Reserve System of the United States of America. 
 “Bond Hedge
Transaction” has the meaning assigned to such term in the definition of “Permitted Call Spread Swap Agreement”. 

“Borrowers” shall mean the Company and the Foreign Borrowers. 

“Borrowing” shall mean (a) Revolving Facility Loans of the same Type, made, converted or continued on the same date and,
in the case of Eurocurrency Loans, as to which a single Interest Period is in effect or (b) a Swingline Loan. 
 “Borrowing
Minimum” shall mean (a) in the case of any Borrowing other than a Swingline Borrowing (i) denominated in Dollars, U.S.$1.0 million and (ii) denominated in any Foreign Currency, 1,000,000 units of such currency and (b) in
the case of a Swingline Borrowing, U.S.$250,000. 
 “Borrowing Multiple” shall mean (a) in the case of any Borrowing
other than a Swingline Borrowing (i) denominated in Dollars, U.S.$1.0 million and (ii) denominated in any Foreign Currency, the smallest amount of such Foreign Currency that is an integral multiple of 1,000,000 units of such currency and
(b) in the case of a Swingline Borrowing, U.S.$250,000. 
 “Borrowing Request” shall mean a request by any Borrower in
accordance with the terms of Section 2.03 and substantially in the form of Exhibit C-1. 
 “Business Day” shall
mean any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed; provided that when used in connection with a Eurocurrency Loan, the term “Business
Day” shall also exclude any day on which banks are not open for dealings in deposits in the relevant Agreed Currency in the London interbank market or the principal financial center of such Agreed Currency (and, if the Borrowings or L/C
Disbursements which are the subject of a borrowing, drawing, payment, reimbursement or rate selection 
  

  
 6 

 members, unless such restriction with respect to the payment of dividends or in similar
distributions has been legally waived (provided that the net loss of any such subsidiary shall be included to the extent funds are disbursed by such Person or any other subsidiary of such Person in respect of such loss and that Consolidated
Net Income of such Person shall be increased by the amount of dividends or distributions or other payments that are actually paid in cash (or to the extent converted into cash) by such subsidiary to the Company or another Subsidiary in respect of
such period to the extent not already included therein), 
 (vii) Consolidated Net Income for such period shall not include
the cumulative effect of a change in accounting principles during such period, 
 (viii) any non-cash charges from the
application of the purchase method of accounting in connection with any future acquisition, to the extent such charges are deducted in computing such Consolidated Net Income, shall be excluded, 

(ix) accruals and reserves that are established within twelve months after the Closing Date and that are so required to be
established in accordance with GAAP shall be excluded, 
 (x) any non-cash expenses (including, without limitation,
write-downs and impairment of property, plant, equipment and intangibles and other long-lived assets) shall be excluded, 

(xi) any long-term incentive plan accruals and any non-cash compensation expense realized from grants of stock appreciation or
similar rights, stock options, any restricted stock plan or other rights to officers, directors and employees of such Person or any of its subsidiaries shall be excluded, and 

(xii) Consolidated Net Income for any Person shall be reduced by any cash payments made during such period in respect of the
items described in clauses (viii), (x) and (xi) above subsequent to the fiscal quarter in which the relevant non-cash amount was incurred. 

“Consolidated Total Assets” shall mean, as of any date, the total assets of the Company and the consolidated Subsidiaries,
determined in accordance with GAAP, in each case as set forth on the consolidated balance sheet of the Company as of such date. 

“Control” shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of voting securities, by contract or otherwise, and “Controlling” and “Controlled” shall have meanings correlative thereto. 

“Co-Syndication Agent” means each of Bank of America, N.A., Fifth Third Bank, Wells Fargo Bank, National Association and PNC
Bank, National Association in its capacity as co-syndication agent for the credit facility evidenced by this Agreement. 

“Covered Entity” means any of the following: 

(i) a “covered entity” as that term is defined in, and
interpreted in accordance with, 12 C.F.R. § 252.82(b); 

(ii) a “covered bank” as that term is defined in, and
interpreted in accordance with, 12 C.F.R. § 47.3(b); or 

  
 13 

 (iii) a
“covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). 

“Covered Party” has the meaning assigned to it in Section 9.25.

 “Credit Event” shall mean a Borrowing, the issuance, amendment, renewal or extension of a Letter of Credit, an L/C
Disbursement or any of the foregoing. 
 “Credit Party” means the Administrative Agent, the Issuing Bank, the Swingline
Lender or any other Lender. 
 “Default” shall mean any event or condition that upon notice, lapse of time or both would
constitute an Event of Default. 
 “Default Right” has the meaning
assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. 

“Defaulting Lender” means any Lender that (a) has failed, within two (2) Business Days of the date required to be
funded or paid, to (i) fund any portion of its Loans, (ii) fund any portion of its participations in Letters of Credit or Swingline Loans or (iii) pay over to any Credit Party any other amount required to be paid by it hereunder,
unless, in the case of clause (i) above, such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding (specifically identified and
including the particular default, if any) has not been satisfied, (b) has notified the Company or any Credit Party in writing, or has made a public statement to the effect, that it does not intend or expect to comply with any of its funding
obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s good faith determination that a condition precedent (specifically identified and including the particular default,
if any) to funding a Loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three (3) Business Days after request by a Credit Party, acting in good
faith, to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able to meet such obligations) to fund prospective Loans and participations in then outstanding
Letters of Credit and Swingline Loans under this Agreement, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such certification in form and substance
satisfactory to it and the Administrative Agent, or (d) has become the subject of (A) a Bankruptcy Event or (B) a Bail-In Action. 

“Departing Lender” means each lender under the Existing Credit Agreement that executes and delivers to the Administrative
Agent a Departing Lender Signature Page. 
 “Departing Lender Signature Page” means each signature page to this Agreement
on which it is indicated that the Departing Lender executing the same shall cease to be a party to the Existing Credit Agreement on the Closing Date. 

“Discretionary L/C Amount” has the meaning assigned to such term in the definition of “L/C Sublimit”. 

“Disqualified Lender” means (a) Persons that are reasonably determined by the Company to be competitors of the Company
or its Subsidiaries and which are specifically identified by the Company to the Administrative Agent in writing and delivered in accordance with Section 9.01 prior to the Closing Date, (b) any other Person that is reasonably determined by
the Company to be a competitor of the Company or its Subsidiaries and which is specifically identified in a written supplement to the list 

  
 14 

 “Foreign Currency Letter of Credit” shall mean a Letter of Credit
denominated in a Foreign Currency. 
 “Foreign Currency Sublimit” shall mean U.S.$250.0 million. 

“Foreign Lender” shall mean (a) if the applicable Borrower is a U.S. Person, a Lender that is not a U.S. Person, and
(b) if the applicable Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which such Borrower is resident for tax purposes. 

“Foreign Subsidiary” shall mean any Subsidiary that is incorporated or organized under the laws of any jurisdiction other
than the United States of America, any State thereof or the District of Columbia and any Subsidiary of a Foreign Subsidiary. 

“GAAP” shall mean generally accepted accounting principles in effect from time to time in the United States, applied on a
consistent basis, subject to the provisions of Section 1.02. 
 “Governmental Authority” shall mean any federal,
state, local or foreign court or governmental agency, authority, instrumentality or regulatory or legislative body. 

“Guarantee” of or by any Person (the “guarantor”) shall mean (a) any obligation, contingent or
otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness (whether arising by virtue of partnership arrangements, by agreement to keep well, to purchase assets, goods,
securities or services, to take-or-pay or otherwise) or to purchase (or to advance or supply funds for the purchase of) any security for the payment of such Indebtedness, (ii) to purchase or lease property, securities or services for the
purpose of assuring the owner of such Indebtedness of the payment thereof, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to
pay such Indebtedness, (iv) entered into for the purpose of assuring in any other manner the holders of such Indebtedness of the payment thereof or to protect such holders against loss in respect thereof (in whole or in part) or (v) as an
account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness, or (b) any Lien on any assets of the guarantor securing any Indebtedness (or any existing right, contingent or otherwise, of the holder
of Indebtedness to be secured by such a Lien) of any other Person, whether or not such Indebtedness is assumed by the guarantor; provided, however, that the term “Guarantee” shall not include endorsements for collection or
deposit, in either case in the ordinary course of business, or customary and reasonable indemnity obligations in effect on the Closing Date or entered into in connection with any acquisition or disposition of assets permitted under this Agreement.

 “Harsco” means Harsco Corporation, a Delaware corporation.

 “Hazardous Materials” shall mean all pollutants, contaminants, wastes, chemicals, materials, substances and
constituents, including, without limitation, explosive or radioactive substances or petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls or radon gas, of any nature, in each case subject to
regulation or which can give rise to liability under any Environmental Law. 
 “Hong Kong” means the Hong Kong Special
Administrative Region of the People’s Republic of China. 

  
 21 

 certificate of a Responsible Officer of the Company (the “Additional Adjustments”);
provided that (x) all adjustments pursuant to this clause (B) will be without duplication of any amounts that are otherwise included or added back in computing EBITDA in accordance with the definition of such term (including, without
limitation, pursuant to the foregoing clause (A)), whether through pro forma adjustment or otherwise, (y) if Additional Adjustments are to be added to EBITDA pursuant to this clause (B), the aggregate amount of Additional Adjustments for any
period being tested shall not exceed 10% of the EBITDA for such period (calculated prior to giving effect to the Additional Adjustments) and (z) if any operating expense reductions or other operating improvements or synergies included in any
pro forma calculations based on the anticipation that such operating expense reductions or other operating improvements or synergies will be achieved within such 12-month period shall at any time cease to be reasonably anticipated by the Company to
be so achieved, then on and after such time pro forma calculations required to be made hereunder shall not reflect such operating expense reductions or other operating improvements or synergies. 

“Projections” shall mean the projections of the Company and its Subsidiaries included in the Information Memorandum and any
other projections and any forward-looking statements (including statements with respect to booked business) of such entities, including updates to the projections contained in the Information Memorandum, furnished to the Lenders or the
Administrative Agent by or on behalf of the Company or any of its Subsidiaries prior to the Closing Date. 

“QFC” has the meaning assigned to the term “qualified financial
contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 

“QFC Credit Support” has the meaning assigned to it in Section 9.25.

 “Quotation Day” means, with respect to any Eurocurrency Borrowing for any Interest Period, (i) if the currency
is Pounds Sterling, the first day of such Interest Period, (ii) if the currency is euro, the day that is two (2) TARGET2 Days before the first day of such Interest Period, and (iii) for any other currency, two (2) Business Days
prior to the commencement of such Interest Period (unless, in each case, market practice differs in the relevant market where the LIBO Rate for such currency is to be determined, in which case the Quotation Day will be determined by the
Administrative Agent in accordance with market practice in such market (and if quotations would normally be given on more than one day, then the Quotation Day will be the last of those days)). 

“Real Property” shall mean, collectively, all right, title and interest of the Company or any other Subsidiary in and to any
and all parcels of real property owned or operated by the Company or any other Subsidiary together with all Improvements and appurtenant fixtures, equipment, personal property, easements and other property and rights incidental to the ownership,
lease or operation thereof. 
 “Receivables Assets” shall mean accounts receivable (including any bills of exchange) and
related assets and property (including related lockboxes, collection accounts, lockbox accounts and concentration accounts, as applicable) from time to time originated, acquired or otherwise owned by the Company or any Subsidiary. 

“Receivables Net Investment” shall mean at any time, the aggregate cash amount advanced or paid by any lenders or purchasers
that are not Affiliates of the Company under any Permitted Receivables Financing in connection with their purchase of, or the making of loans secured by, Receivables Assets or interests therein, as the same may be reduced from time to time by
collections with respect to such Receivables Assets or otherwise in accordance with the terms of the Permitted Receivables Documents; provided, however, that if all or any part of such Receivables Net Investment shall have been reduced by
application for any distribution and thereafter such distribution is rescinded or 

  
 34 

 “Senior Subordinated Note Indenture” shall mean each and any indenture or
other similar document governing the terms of Senior Subordinated Notes in effect from time to time. 
 “Senior Subordinated
Notes” shall mean any Permitted Debt Securities or Permitted Convertible Notes which, by their terms, are subordinated to the Company’s “senior debt” or “designated senior indebtedness.”. 

“Special Purpose Receivables Subsidiary” shall mean a direct or indirect Subsidiary of the Company established in connection
with a Permitted Receivables Financing for the acquisition of Receivables Assets or interests therein, and which, if applicable for purposes of structuring such transaction, is organized in a manner intended to reduce the likelihood that it would be
substantively consolidated with the Company or any of the Subsidiaries (other than Special Purpose Receivables Subsidiaries) in the event the Company or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other
insolvency law). 
 “Specified Representations” means the
representations and warranties set forth in Sections 3.01, 3.02(a), 3.02(b)(i)(A), 3.03, 3.09, 3.10, 3.18(c) and 3.21 (solely as it relates to use of proceeds on the applicable date) of this Agreement. 

“Specified Swap Obligation” means, with respect to any Loan Party, any obligation to pay or perform under any agreement,
contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act or any rules or regulations promulgated thereunder. 

“Statutory Reserve Rate” shall mean, with respect to any currency, a fraction (expressed as a decimal), the numerator of
which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve, liquid asset, fees or similar requirements (including any marginal, special, emergency or supplemental reserves or other requirements)
established by any central bank, monetary authority, the Board, the Financial Conduct Authority, the Prudential Regulation Authority, the European Central Bank or other Governmental Authority for any category of deposits or liabilities customarily
used to fund loans in such currency, expressed in the case of each such requirement as a decimal. Such reserve, liquid asset, fees or similar requirements shall include those imposed pursuant to Regulation D of the Board. Eurocurrency Loans shall be
deemed to be subject to such reserve, liquid asset, fee or similar requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under any applicable law, rule or regulation,
including Regulation D of the Board. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve, liquid asset or similar requirement. 

“Subordinated Indebtedness” shall mean any Indebtedness of the Company or any Subsidiary the payment of which is subordinated
to payment of the Obligations. 
 “Subordinated Intercompany Debt” shall have the meaning assigned to such term in
Section 6.01(e). 
 “subsidiary” shall mean, with respect to any Person (herein referred to as the
“parent”), any corporation, partnership, association or other business entity of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or more than 50%
of the general partnership interests are, at the time any determination is being made, directly or indirectly, owned, Controlled or held by such Person. 

“Subsidiary” shall mean a subsidiary; provided that unless the context otherwise requires, “Subsidiary”
shall mean a subsidiary of the Company. 

  
 38 

 “Subsidiary Loan Party” shall mean each direct Wholly Owned Subsidiary of
the Company that (a) is (i) a Domestic Subsidiary, (ii) a Material Subsidiary and (iii) a party to the Collateral Agreement, and (b) is not (i) a Special Purpose Receivables Subsidiary, (ii) a Subsidiary listed on
Schedule 1.01 or (iii) a Subsidiary whose guarantee of the Obligations is prohibited under Section 9.22 (provided that Hudson Products Corp. or any other Person acquired in the Hudson Acquisition shall not be required to become a
Subsidiary Loan Party until the date that is 45 Business Days after the Closing Date (or such later date as is agreed upon by the Administrative Agent)). 

“Supported QFC” has the meaning assigned to it in Section 9.25.

 “Swap Agreement” shall mean any agreement with respect to any swap, forward, spot, future, credit default or
derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic,
financial or pricing risk or value or any similar transaction or any combination of these transactions, provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors,
officers, employees or consultants of the Company or any of its Subsidiaries shall be a Swap Agreement. 
 “Swap
Obligations” means any and all obligations of the Company or any Subsidiary, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof
and substitutions therefor), under (a) any and all Swap Agreements permitted hereunder with a Lender or an Affiliate of a Lender, and (b) any and all cancellations, buy backs, reversals, terminations or assignments of any such Swap
Agreement transaction. Notwithstanding the foregoing, Permitted Call Spread Swap Agreements shall not constitute Swap Obligations. 

“Swingline Borrowing” shall mean a Borrowing comprised of Swingline Loans. 

“Swingline Borrowing Request” shall mean a request by the Company substantially in the form of Exhibit C-2. 

“Swingline Sublimit” shall mean, with respect to the Swingline Lender, the amount that the Swingline Lender may, in its sole
discretion, make available as Swingline Loans pursuant to Section 2.04. The aggregate amount of the Swingline Sublimit on the Closing Date is U.S.$25.0 million. 

“Swingline Exposure” shall mean at any time the aggregate principal amount of all outstanding Swingline Borrowings at such
time. The Swingline Exposure of any Lender at any time shall mean the sum of (a) its Revolving Facility Percentage of the aggregate Swingline Exposure at such time other than with respect to any Swingline Loans made by such Lender in its
capacity as a Swingline Lender and (b) the aggregate principal amount of all Swingline Loans made by such Lender as a Swingline Lender outstanding at such time (less the amount of participations funded by the other Lenders in such Swingline
Loans). 
 “Swingline Lender” shall mean JPMorgan, in its capacity as a lender of Swingline Loans hereunder. 

“Swingline Loans” shall mean the swingline loans made to the Company pursuant to Section 2.04. 

“TARGET2” means the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET2) payment system (or, if
such payment system ceases to be operative, such other 

  
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 “U.S. Special Resolution
Regime” has the meaning assigned to it in Section 9.25. 
 “U.S. Tax Compliance Certificate” has the meaning
assigned to such term in Section 2.17(f)(ii)(B)(3). 
 “VRV Acquisition” means the acquisition pursuant to which the
Company (or one or more of its Subsidiaries) will acquire VRV s.p.a., all as more specifically described in the Company’s Current Report on Form 8-K dated September 26, 2018 and filed with the SEC on September 27, 2018. 

“Warrant Transaction” has the meaning assigned to such term in the definition of “Permitted Call Spread Swap
Agreement”. 
 “Wholly Owned Subsidiary” of any Person shall mean a subsidiary of such Person, all of the Equity
Interests of which (other than directors’ qualifying shares or nominee or other similar shares required pursuant to applicable law) are owned by such Person or one or more Wholly Owned Subsidiaries of such Person. 

“Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
 “Write-Down and Conversion
Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and
conversion powers are described in the EU Bail-In Legislation Schedule. 
 SECTION 1.02. Terms Generally. The definitions set forth
or referred to in Section 1.01 shall apply equally to both the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words
“include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” All references herein to Articles, Sections, Exhibits and Schedules shall be
deemed references to Articles and Sections of, and Exhibits and Schedules to, this Agreement unless the context shall otherwise require. Except as otherwise expressly provided herein, any reference in this Agreement to any Loan Document shall mean
such document as amended, restated, supplemented or otherwise modified from time to time. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from
time to time; provided that, if the Company notifies the Administrative Agent that the Company requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Closing Date in GAAP or in the application
thereof on the operation of such provision (or if the Administrative Agent notifies the Company that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after
such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such
provision amended in accordance herewith; provided further that, notwithstanding the foregoing, upon and following the acquisition of any business or new Subsidiary in accordance with this Agreement, in each case that would not
constitute a “significant subsidiary” for purposes of Regulation S-X, financial items and information with respect to such newly-acquired business or Subsidiary that are required to be included in determining any financial calculations and
other financial ratios contained herein for any period prior to such acquisition shall not be required to be in accordance with GAAP so long as the Company is able to reasonably estimate pro forma adjustments in respect of such acquisition for such
prior periods, and in each case such estimates are made in good faith and are factually supportable. Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used 

  
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 Administrative Agent, such Non-Consenting Lender and the replacement Lender shall otherwise comply with
Section 9.04. 
 SECTION 2.20. Increase in Revolving Facility Commitments and/or Incremental Term Loans. 

(a) New Commitments. At any time, the Company may by written notice to the Administrative Agent elect to request an increase to the
existing Revolving Facility Commitments (any such increase, the “New Revolving Facility Commitments”) and/or enter into one or more tranches of term loans (any such tranche, the “Incremental Term Loans” and together
with the New Revolving Facility Commitments, if any, the “New Commitments”), by an amount not in excess of U.S.$225.0 million in the aggregate or a lesser amount in integral multiples of U.S.$25.0
million (it being understood and agreed that, notwithstanding the foregoing U.S.$225.0 million limitation, the tranche of Incremental Term Loans that is incurred under this Section 2.20
as AXC Incremental Term Loans may be in an amount of up to U.S.$450.0 million and without regard to the foregoing integral multiple requirement; provided that any such AXC Incremental Term Loans incurred under this Section 2.20 will not count
against such U.S.$225.0 million limitation and will not reduce availability for any other New Commitments on a dollar-for-dollar basis). Such notice shall specify the date (an “Increased Amount Date”) on which the Company
proposes that the New Commitments and, in the case of Incremental Term Loans, the date for borrowing, as applicable, be made available. The Company shall notify the Administrative Agent in writing of the identity of each Lender or other financial
institution reasonably acceptable to the Administrative Agent (each, a “New Revolving Facility Lender,” an “Incremental Term Lender” or generally, a “New Lender”; provided that no Ineligible
Institution may be a New Lender) to whom the New Commitments have been (in accordance with the prior sentence) allocated and the amounts of such allocations; provided that any Lender approached to provide all or a portion of the New
Commitments may elect or decline, in its sole discretion, to provide a New Commitment. Such New Commitments shall become effective as of such Increased Amount Date, and in the case of Incremental Term Loans, shall be made on such Increased Amount
Date; provided that (1) the conditions set forth in paragraphs of (b) and (c) of Section 4.02 shall be satisfied or waived by the Required Lenders on such Increased Amount Date before or after giving effect to such New
Commitments and Loans; (2) such increase in the Revolving Facility Commitments and/or the Incremental Term Loans shall be evidenced by one or more joinder agreements executed and delivered to Administrative Agent by each New Lender, as
applicable, and each shall be recorded in the register, each of which shall be reasonably satisfactory to the Administrative Agent and subject to the requirements set forth in Section 2.17(e); and (3) the Borrowers shall make any payments
required pursuant to Section 2.16 in connection with the provisions of the New Commitments; provided that, with respect to any Incremental Term Loans incurred for the primary purpose of financing a Limited Conditionality Acquisition
(“Acquisition-Related Incremental Term Loans”), clause (1) of this sentence shall be deemed to have been satisfied so long as (A) as of the date of execution of the related Limited Conditionality Acquisition Agreement by
the parties thereto, no Default shall have occurred and be continuing or would result from entry into such Limited Conditionality Acquisition Agreement, (B) as of the date of the borrowing of such Acquisition-Related Incremental Term Loans, no
Event of Default under Section 7.01(a), (b), (h) or (i) is in existence immediately before or after giving effect (including on a Pro Forma Basis) to such borrowing and to any concurrent transactions and any substantially concurrent
use of proceeds thereof, (C) the representations and warranties set forth in Article III shall be true and correct in all material respects as of the date of execution of the applicable Limited Conditionality Acquisition Agreement by the
parties thereto, except to the extent any such representations or warranties are expressly limited to an earlier date, in which case such representations and warranties shall be true and correct in all material respects as of such specified earlier
date (provided that no materiality qualifier set forth in this subclause (C) shall be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) and (D) as of the date
of the borrowing of such Acquisition- 

  
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 Related Incremental Term Loans, customary “Sungard” representations and warranties (with such
representations and warranties to be reasonably determined by the Lenders providing such Acquisition-Related Incremental Term Loans) shall be true and correct in all material respects immediately before and after giving effect to the incurrence of
such Acquisition-Related Incremental Term Loans, except to the extent any such representations or warranties are expressly limited to an earlier date, in which case such representations and warranties shall be true and correct in all material
respects as of such specified earlier date (provided that no materiality qualifier set forth in this subclause (D) shall be applicable to any representations and warranties that already are qualified or modified by materiality in the
text thereof). Notwithstanding anything to the contrary set forth in this Section 2.20, with respect to AXC Incremental Term Loans, the only conditions required to be satisfied in
connection with the funding thereof shall be the conditions set forth in Section 4.03. 
 (b) On any Increased Amount Date on which
New Revolving Facility Commitments are effected, subject to the satisfaction of the foregoing terms and conditions, (i) each of the existing Lenders shall assign to each of the New Revolving Facility Lenders, and each of the New Revolving
Facility Lender shall purchase from each of the existing Lenders, at the principal amount thereof, such interests in the outstanding Revolving Facility Loans and participations in Letters of Credit and Swingline Loans outstanding on such Increased
Amount Date that will result in, after giving effect to all such assignments and purchases, such Revolving Facility Loans and participations in Letters of Credit and Swingline Loans being held by existing Lenders and New Revolving Facility Lenders
ratably in accordance with their Revolving Facility Commitments after giving effect to the addition of such New Revolving Facility Commitments to the Revolving Facility Commitments, (ii) each New Revolving Facility Commitment shall be deemed
for all purposes a Revolving Facility Commitment and each Loan made thereunder shall be deemed, for all purposes, a Revolving Facility Loan and have the same terms as any existing Revolving Facility Loan and (iii) each New Revolving Facility
Lender shall become a Lender with respect to the Revolving Facility Commitments and all matters relating thereto. 
 (c) On any Increased
Amount Date on which Incremental Term Loans are effected and borrowed, subject to the satisfaction of the foregoing terms and conditions, (i) each Incremental Term Loan shall be deemed for all purposes a Loan made hereunder, (ii) each
Incremental Term Lender shall become a Lender hereunder and (iii) the Incremental Term Loans (x) shall rank pari passu in right of payment with the Revolving Facility Loans, (y) shall not mature earlier than the Maturity Date (but may
have amortization prior to such date) and (z) shall be treated substantially the same as (and in any event no more favorably than) the Revolving Facility Loans (provided that (i) the terms and conditions applicable to any Incremental Term
Loans maturing after the Maturity Date may provide for additional or different financial or other covenants or prepayment requirements applicable only during periods after the Maturity Date and (ii) the Incremental Term Loans may be priced, and
may include fees, differently than the existing Revolving Facility Loans). All Incremental Term Loans made on any Increased Amount Date will be made in accordance with the procedures set forth in Section 2.03. 

(d) The Administrative Agent shall notify the Lenders promptly upon receipt of the Company’s notice of an Increased Amount Date and, in
respect thereof, the New Commitments and the New Lenders. 
 (e) Incremental Term Loans may be made hereunder pursuant to an amendment or
restatement (an “Incremental Term Loan Amendment”) of this Agreement and, as appropriate, the other Loan Documents, executed by the Borrowers, each Lender providing such Incremental Term Loans, if any, and the Administrative Agent.
The Incremental Term Loan Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent, to
effect the provisions of this Section 2.20. Nothing contained in this Section 2.20 shall constitute, or otherwise be deemed to 

  
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 reasonably be expected to have a Material Adverse Effect or which could reasonably be expected, individually
or in the aggregate, to materially adversely affect the Transactions. Neither of the Borrowers nor, to the knowledge of any of the Loan Parties, any of their Affiliates is in violation of any laws relating to terrorism or money laundering, including
Executive Order No. 13224 on Terrorist Financing, effective September 23, 2001, and the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56 (signed
into law on October 26, 2001) (the “U.S. Patriot Act”). 
 (b) Except as set forth in Schedule 3.08(b), none of
the Company, its Subsidiaries and their respective properties or assets is in violation of (nor will the continued operation of their material properties and assets as currently conducted violate) any currently applicable law, rule or regulation
(including any zoning, building, Environmental Law, ordinance, code or approval or any building permit), the Luxembourg Domiciliation Law (to the extent required), or any restriction of record or agreement affecting any Mortgaged Property, or is in
default with respect to any judgment, writ, injunction or decree of any Governmental Authority, where such violation or default could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

SECTION 3.09. Federal Reserve Regulations. 

(a) None of the Company and its Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit
for the purpose of purchasing or carrying Margin Stock. 
 (b) No part of the proceeds of any Loan will be used, whether directly or
indirectly, and whether immediately, incidentally or ultimately, (i) to purchase or carry Margin Stock or to extend credit to others for the purpose of purchasing or carrying Margin Stock or to refund indebtedness originally incurred for such
purpose, or (ii) for any purpose that entails a violation of, or that is inconsistent with, the provisions of the Regulations of the Board, including Regulation T, Regulation U or Regulation X. 

SECTION 3.10. Investment Company Act. None of the Company or any Subsidiary is an “investment company” as defined in, or
subject to regulation under, the Investment Company Act of 1940, as amended. 
 SECTION 3.11. Use of Proceeds. Each of the Borrowers
will use the proceeds of the Revolving Facility Loans, the Swingline Loans, and may request the issuance of Letters of Credit, as applicable, only to refinance existing Indebtedness and for working capital and other general corporate purposes
(including refinancing existing Indebtedness and Permitted Business Acquisitions). Notwithstanding anything to the contrary set forth in this Section 3.11, all proceeds of the AXC
Revolving Facility Loans and the AXC Incremental Term Loans will be used only to finance the AXC Acquisition and to pay AXC Transaction Costs. No Borrower will request any Borrowing or Letter of Credit, and no Borrower shall use, and the
Company shall use reasonable efforts to procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing or Letter of Credit (i) in furtherance of an offer,
payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation, in any material respect, of any Anti-Corruption Laws, (ii) for the purpose of funding, financing or facilitating
any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in each case except to the extent permitted for a Person required to comply with Sanctions or (iii) in any manner that would result in the
violation in any material respect of any Sanctions applicable to any party hereto. 

  
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 title and interest of the Domestic Loan Parties in such Mortgaged Property and, to the extent applicable,
subject to Section 9-315 of the UCC, the proceeds thereof, in each case prior and superior in right to any other Person, other than with respect to Permitted Encumbrances. 

SECTION 3.17. Location of Real Property. 

(a) Schedule 3.17(a) lists completely and correctly as of the Closing Date each Real Property owned by each Borrower and the Subsidiary
Loan Parties, the address or location thereof and the state in which such Real Property is located. 
 (b) Schedule 3.17(b) lists
completely and correctly as of the Closing Date each Real Property leased by each Borrower and the Subsidiary Loan Parties, the address or location thereof. 

SECTION 3.18. Solvency. 

(a) Immediately after giving effect to the Transactions (i) the fair value of the assets of each Borrower (individually) and the Company
and its Subsidiaries on a consolidated basis, at a fair valuation, will exceed the debts and liabilities, direct, subordinated, contingent or otherwise, of each Borrower (individually) and the Company and its Subsidiaries on a consolidated basis,
respectively; (ii) the present fair saleable value of the property of each Borrower (individually) and the Company and its Subsidiaries on a consolidated basis will be greater than the amount that will be required to pay the probable liability
of each Borrower (individually) and the Company and its Subsidiaries on a consolidated basis, respectively, on their debts and other liabilities, direct, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and
matured; (iii) each Borrower (individually) and the Company and its Subsidiaries on a consolidated basis will be able to pay their debts and liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become
absolute and matured; (iv) each Borrower (individually) and the Company and its Subsidiaries on a consolidated basis will not have unreasonably small capital with which to conduct the businesses in which they are engaged as such businesses are
now conducted and are proposed to be conducted following the Closing Date; and (v) no Foreign Borrower Insolvency Event will occur. 

(b) The Company does not intend to, and does not believe that it or any of its Subsidiaries will, incur debts beyond its ability to pay such
debts as they mature, taking into account the timing and amounts of cash to be received by it or any such subsidiary and the timing and amounts of cash to be payable on or in respect of its Indebtedness or the Indebtedness of any such subsidiary.

 (c) As of
the AXC Trigger Date, and after giving effect to the AXC Transactions and the incurrence of the indebtedness and obligations being incurred in connection with this Agreement, the AXC Transactions and the Transactions on the AXC Trigger Date, that,
with respect to the Company and its Subsidiaries on a consolidated basis, (a) the sum of the liabilities of the Company and its Subsidiaries, taken as a whole, does not exceed the present fair saleable value of the assets of the Company and its
Subsidiaries, taken as a whole; (b) the capital of the Company and its Subsidiaries, taken as a whole, is not unreasonably small in relation to the business of the Company and its Subsidiaries, taken as a whole, contemplated on the date hereof
and (c) the Company and its Subsidiaries, taken as a whole, do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debt as they mature in the ordinary course of business
(for the purposes of this Section 3.18(c), the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably
be expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5)). 

  
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 instruments and agreements as the Administrative Agent shall reasonably request in connection with the
Transactions, all in form and substance satisfactory to the Administrative Agent and its counsel and as further described in the list of closing documents attached as Exhibit H. 

(b) The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the Lenders and dated
the Closing Date) of each of (i) Calfee, Halter & Griswold LLP, counsel for the Loan Parties, (ii) LexField, special Luxembourg counsel for Chart Luxembourg and (iii) Jones Day, special Hong Kong counsel for Chart Hong Kong,
in each case covering such matters relating to the Loan Parties, the Loan Documents or the Transactions as the Administrative Agent shall reasonably request. The Company hereby requests such counsel to deliver such opinions. 

(c) The Administrative Agent shall have received (i) such documents and certificates as the Administrative Agent or its counsel may
reasonably request relating to the organization, existence and good standing of the initial Loan Parties, the authorization of the Transactions and any other legal matters relating to such Loan Parties, the Loan Documents or the Transactions, all in
form and substance satisfactory to the Administrative Agent and its counsel and as further described in the list of closing documents attached as Exhibit H and (ii) to the extent requested by any of the Lenders, all documentation and
other information required by bank regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including the U.S. Patriot Act. 

(d) The Administrative Agent shall have received a certificate, dated the Closing Date and signed by the President, a Vice President or a
Financial Officer of the Company, certifying (i) that the representations and warranties contained in Article III are true and correct in all material respects (or in all respects if the applicable representation or warranty is qualified
by Material Adverse Effect or other materiality qualifier) on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties were true and correct
in all material respects (or in all respects if the applicable representation or warranty is qualified by Material Adverse Effect or other materiality qualifier) as of such earlier date), and (ii) that no Event of Default or Default has
occurred and is continuing as of such date. 
 (e) (i) The Administrative Agent shall have received evidence satisfactory to it of the
payment, prior to or simultaneously with the initial Loans hereunder, of all interest, fees and premiums, if any, on all loans and other extensions of credit outstanding under the Existing Credit Agreement and (ii) each Departing Lender shall
have received payment in full of all of the “Obligations” owing to it under the Existing Credit Agreement (other than obligations to pay fees and expenses with respect to which the Company has not received an invoice, contingent indemnity
obligations and other contingent obligations owing to it under the “Loan Documents” as defined in the Existing Credit Agreement). 

(f) The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Closing Date, including, to the
extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Company hereunder. 
 (g)
The Lenders shall have received a solvency certificate substantially in the form of Exhibit F and signed by the chief financial officer or another Responsible Officer of the Company confirming the solvency of the Company and its Subsidiaries
on a consolidated basis after giving effect to the Transactions. 

  
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 SECTION 4.02. All Credit Events. On the date of each Borrowing
(other than any Borrowing in respect of AXC Revolving Facility Loans and any Borrowing in respect of AXC Incremental Term Loans) and on the date of each issuance, amendment,
extension or renewal of a Letter of Credit: 
 (a) The Administrative Agent shall have received, in the case of a Borrowing, a Borrowing
Request as required by Section 2.03 (or a Borrowing Request shall have been deemed given in accordance with the last paragraph of Section 2.03) or, in the case of the issuance of a Letter of Credit, the Issuing Bank and the Administrative
Agent shall have received a notice requesting the issuance of such Letter of Credit as required by Section 2.05(b). 
 (b) The
representations and warranties set forth in Article III hereof shall be true and correct in all material respects on and as of the date of such Borrowing or issuance, amendment, extension or renewal of a Letter of Credit (other than an
amendment, extension or renewal of a Letter of Credit without any increase in the stated amount of such Letter of Credit), as applicable, with the same effect as though made on and as of such date, except to the extent such representations and
warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects as of such earlier date). 

(c) At the time of and immediately after such Borrowing or issuance, amendment, extension or renewal of a Letter of Credit (other than an
amendment, extension or renewal of a Letter of Credit without any increase in the stated amount of such Letter of Credit), as applicable, no Event of Default or Default shall have occurred and be continuing. 

(d) In the case of a Revolving Facility Loan to be made to a Foreign Borrower, the Borrowers shall have demonstrated to the Administrative
Agent compliance with Section 6.04(a)(i). 
 Each Borrowing
and(other than any Borrowing in respect of AXC Revolving Facility Loans and any Borrowing in respect of AXC Incremental Term Loans) and each issuance, amendment,
extension or renewal of a Letter of Credit (other than an amendment, extension or renewal of a Letter of Credit without any increase in the stated amount of such Letter of Credit) made by any Borrower shall be deemed to constitute a representation
and warranty by each Borrower on the date of such Borrowing, issuance, amendment, extension or renewal as applicable, as to the matters specified in paragraphs (b) and (c) of this Section 4.02. 

SECTION 4.03. AXC Trigger Date. The obligations of the Lenders with Revolving
Facility Commitments to make AXC Revolving Facility Loans and the obligations of the applicable Lenders with commitments in respect of AXC Incremental Term Loans shall not become effective until the date that occurs on which each of the following
conditions is satisfied (or (i) with respect to the making of AXC Revolving Facility Loans, waived in accordance with Section 9.08 and (ii) with respect to the making of AXC Incremental Term Loans, waived by the holders of commitments
in respect of AXC Incremental Term Loans): 

(a) The
Administrative Agent shall have received a customary favorable written opinion (addressed to the Administrative Agent and the Lenders and dated the AXC Trigger Date) of Winston & Strawn LLP, counsel for the Loan Parties, covering such
matters relating to the Loan Parties and the Loan Documents as the Administrative Agent shall reasonably request. The Company hereby requests such counsel to deliver such opinion. 

(b) The
Administrative Agent shall have received customary documents and certificates as the Administrative Agent or its counsel may reasonably request, including with respect to the organization, existence and good standing of the Loan Parties (in their
jurisdiction of organization or formation), the authorization of the AXC Transactions, the Transactions and otherwise relating to the Loan Documents and the AXC Transactions, all in
form and substance reasonably satisfactory to the Administrative Agent and its counsel. 

  
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(c) The
Administrative Agent shall have received in the form described in Section 4.03(e)(v) evidence reasonably satisfactory to it that the AXC Acquisition shall, substantially concurrently with the funding of the AXC Revolving Facility Loans and the
AXC Incremental Term Loans hereunder, be consummated pursuant to the AXC Acquisition Agreement, and no provision thereof shall have been amended or waived, and no consent or request shall have been given under the AXC Acquisition Agreement, without
the prior written consent of the Administrative Agent (not to be unreasonably withheld, conditioned or delayed), in any way that is materially adverse to the Lenders in their capacities as such (it being understood and agreed that
(i) amendments, waivers and other changes to the definition of “Material Adverse Effect” of the AXC Acquisition Agreement, and consents and requests given or made pursuant to any such definition shall in each case be deemed to be
materially adverse to the Lenders, and (ii) any modification, amendment or express waiver or consents by the Company (or any of its Subsidiaries) that results in (x) an increase to the purchase price shall be deemed to not be materially
adverse to the Lenders so long as such increase is funded solely with a public issuance of common equity of the Company or cash on hand or borrowing capacity under this Agreement and (y) a decrease to the purchase price shall be deemed to not
be materially adverse to the Lenders if (1) such decrease is less than 10% of the purchase price or (2) so long as such reduction is allocated to reduce on a dollar-for-dollar basis simultaneously both (A) the commitments (if any)
under the AXC Incremental Term Loans and (B) the commitments under the senior secured term loan facility (if any) provided to the Company in connection with the AXC Acquisition pursuant to the commitment letter, dated as of May 8, 2019, by
and among the Company and JPMorgan Chase Bank, N.A. (such commitments described in this clause (B), the “Specified Commitments”) (it being understood and agreed, for the avoidance of doubt and by way of example, for purposes of the
foregoing clause (2), a $1 decrease in the purchase price would reduce the commitments under the AXC Incremental Term Loans by $1 and also reduce the Specified Commitments by $1)). 

(d) The
Administrative Agent shall have received in the form described in Section 4.03(e)(iv) evidence reasonably satisfactory to it (i) that on the AXC Trigger Date, after giving effect to the AXC Transactions, the AXC Business shall not have any
indebtedness for borrowed money other than Indebtedness permitted under Section 6.01 and (ii) of repayment of all indebtedness to be repaid on the AXC Trigger Date pursuant to the AXC Acquisition Agreement and the discharge (or the making
of arrangements for discharge) of all liens securing any assets or property of the AXC Business. 

(e) The
Administrative Agent shall have received a certificate signed by a Responsible Officer of the Company certifying that: 

(i)
the Specified Representations are true and correct in all material respects (provided that any representation or warranty that is qualified by materiality, Material Adverse Effect or similar language are true and correct in all respects) on and
as of the AXC Trigger Date; 

(ii)
the AXC Acquisition Agreement Representations are true and correct in all material respects (provided that any representation or warranty that is qualified by materiality, Material Adverse Effect or similar language are true and correct in all
respects) on and as of the AXC Trigger Date; 

  
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 (iii) since
May 8, 2019, there shall not have occurred any event, change, or effect that has had, or could reasonably be expected to have, individually or in the aggregate, a “Material Adverse Effect” (as such quoted term is defined in the AXC
Acquisition Agreement as in effect on May 8, 2019) that is continuing; 

(iv)
after giving effect to the AXC Transactions or substantially concurrently with the funding of the AXC Revolving Facility Loans and the AXC Incremental Term Loans hereunder, the AXC Trigger Date Release shall have been consummated; and

(v)
the AXC Acquisition shall, substantially concurrently with the funding of the AXC Revolving Facility Loans and the AXC Incremental Term Loans hereunder, be consummated pursuant to the AXC Acquisition Agreement, as in effect on May 8, 2019,
and no provision thereof shall have been amended or waived, and no consent or request shall have been given under the AXC Acquisition Agreement, in any way that is materially adverse to the Lenders in their capacities as such. 

(f) The
Administrative Agent shall have received a solvency certificate of the chief financial officer of the Company substantially in the form of Exhibit F-2. 

(g) The
Administrative Agent shall have received (a) audited consolidated balance sheets and related statements of income, stockholders’ equity and cash flows of the Company, for the three most recently completed fiscal years ended at least 90
days before the AXC Trigger Date and (b) unaudited consolidated balance sheets and related statements of income, stockholders’ equity and cash flows of the Company, for each subsequent fiscal quarter ended at least 60 days before the AXC
Trigger Date; provided that filing of the required financial statements on form 10-K and/or form 10-Q by the Company, as applicable will satisfy the foregoing applicable requirements. 

(h) The
Administrative Agent shall have received (a) a pro forma consolidated balance sheet and related pro forma consolidated statement of income of the Company as of and for the twelve-month period ending on the last day of the most recently
completed four-fiscal quarter period ended at least 45 days prior to the AXC Trigger Date, prepared after giving effect to the AXC Transactions (including the acquisition of the AXC Business) as if the AXC Transactions had occurred as of such date
(in the case of such balance sheet) or at the beginning of such period (in the case of such statement of income) and (b) a quality of earnings report in connection with the AXC Acquisition prepared by the Company’s independent public
accountants of recognized standing. It is understood and agreed that the condition set forth in the foregoing clause (b) has been satisfied as of the date hereof. 

(i) The
Administrative Agent shall have received, at least three (3) Business Days prior to the AXC Trigger Date, all documentation and other information about the Borrowers and the Guarantors as shall have been reasonably requested in writing by the
Administrative Agent at least ten (10) Business Days prior to the AXC Trigger Date and required by U.S. regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the U.S.
Patriot Act (including a Beneficial Ownership Certification from the Borrowers in respect of the Beneficial Ownership Regulation). 

(j) All fees and
expenses due and payable to the Administrative Agent, the Lenders and their respective Affiliates that are required to be paid on or prior to the AXC Trigger Date shall have been paid or shall have been authorized to be deducted from the proceeds of
the AXC Revolving Facility Loans and/or the AXC Incremental Term Loans, to the extent, in the case of expenses, an invoice has been delivered to the Company at least one
(1) Business Day prior to the AXC Trigger Date (except as otherwise reasonably agreed by the Company). 

(k) The AXC
Expiration Date shall not have occurred. 

  
 83 

 ARTICLE V 

AFFIRMATIVE COVENANTS 
 The
Company covenants and agrees with each Lender that so long as this Agreement shall remain in effect and until the commitments have been terminated and the principal of and interest on each Loan, all Fees and all other expenses or amounts payable
under any Loan Document shall have been paid in full and all Letters of Credit have been canceled or have expired, in each case, without any pending draw, and all amounts drawn thereunder have been reimbursed in full, unless the Required Lenders
shall otherwise consent in writing, the Company will, and will cause each of its Subsidiaries to: 
 SECTION 5.01. Existence; Businesses
and Properties. 
 (a) Do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal
existence, except as otherwise expressly permitted under Section 6.05, and except for the liquidation or dissolution of Subsidiaries if the assets of such Subsidiaries to the extent they exceed estimated liabilities are acquired by the Company
or a Wholly Owned Subsidiary of the Company in such liquidation or dissolution; provided that Subsidiaries that are Loan Parties may not be liquidated into Subsidiaries that are not Loan Parties. 

(b) Do or cause to be done all things necessary to (i) obtain, preserve, renew, extend and keep in full force and effect the permits,
franchises, authorizations, patents, trademarks, service marks, trade names, copyrights, licenses and rights with respect thereto necessary to the normal conduct of its business, (ii) comply in all material respects with all material applicable
laws, rules, regulations (including any zoning, building, ordinance, code or approval or any building permits or any restrictions of record or agreements affecting the Mortgaged Properties) and judgments, writs, injunctions, decrees and orders of
any Governmental Authority, whether now in effect or hereafter enacted and (iii) at all times maintain and preserve all property necessary to the normal conduct of its business and keep such property in good repair, working order and condition
and from time to time make, or cause to be made, all needful and proper repairs, renewals, additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith, if any, may be properly conducted at
all times (in each case except as expressly permitted by this Agreement); in each case in this paragraph (b) except where the failure would not reasonably be expected to have a Material Adverse Effect. 

SECTION 5.02. Insurance. 

(a) Keep its insurable properties insured at all times by financially sound and reputable insurers in such amounts as shall be customary for
similar businesses and maintain such other reasonable insurance (including, to the extent consistent with past practices, self-insurance), of such types, to such extent and against such risks, as is customary with companies in the same or similar
businesses and maintain such other insurance as may be required by law or any other Loan Document. 
 (b) Cause all such property and
casualty insurance policies with respect to the Mortgaged Properties located in the United States to be endorsed or otherwise amended to include a “standard” or “New York” lender’s loss payable endorsement, in form and
substance reasonably 

  
 84 

 (k) additional Investments may be made from time to time to the extent made with proceeds of
Equity Interests of the Company, which proceeds or Investments in turn are contributed (as common equity) to any Loan Party; 
 (l)
Investments (including, but not limited to, Investments in Equity Interests, intercompany loans, and Guarantees of Indebtedness otherwise expressly permitted hereunder) after the Closing Date by Subsidiaries that are not Domestic Loan Parties in any
Loan Party or other Subsidiary. 
 (m) Investments of Receivables Assets in a Special Purpose Receivables Subsidiary arising as a result of
Permitted Receivables Financings and transactions and Investments arising as a result of one or more Permitted Supplier Finance Facilities; 

(n) the Transactions; 
 (o)
Investments received in connection with the bankruptcy or reorganization of, or settlement of delinquent accounts and disputes with or judgments against, customers and suppliers, in each case in the ordinary course of business; 

(p) Investments of a Subsidiary acquired after the Closing Date or of a corporation merged into the Company or merged into or consolidated with
a Subsidiary in accordance with Section 6.05 after the Closing Date to the extent that such Investments were not made in contemplation of or in connection with such acquisition, merger or consolidation and were in existence on the date of such
acquisition, merger or consolidation; 
 (q) Guarantees by the Company or any Subsidiary of operating leases (other than Capital Lease
Obligations) or of other obligations that do not constitute Indebtedness, in each case entered into by any Subsidiary in the ordinary course of business; 

(r) a joint venture (including a non-majority owned joint venture) with, or a significant Investment in, a Chinese entity or a project or
venture with such Chinese entity (in either case, in an aggregate principal amount not to exceed U.S.$50.0 million) involving a Subsidiary of the Company doing business in China, which venture may result in the Company no longer owning a majority of
the Equity Interests of such Subsidiary or the Company or any of its Subsidiaries acquiring an interest in one or more new joint venture entities arising in connection with such project or venture; 

(s) joint ventures (including non-majority owned joint ventures) with, or significant Investments in, entities or projects or ventures with
such entities (in either case, in an aggregate principal amount not to exceed U.S.$50.0 million); 
 (t) Investments to investigate or remedy
environmental conditions in the ordinary course of business and otherwise in an aggregate amount not exceeding U.S.$5.0 million and already accrued at March 31, 2010; 

(u) Loans, capital contributions and other Investments made subsequent to the Closing Date in connection with the Permitted Foreign
Restructuring; 
 (v) Capital expenditures; 

(w) the VRV Acquisition; and 

  
 98 

 (x) the Company’s entry into (including payments of premiums in connection therewith),
exercise of its rights and the performance thereof and thereunder, Permitted Call Spread Swap Agreements in accordance with their terms.; and 

(y) the AXC Acquisition. 

SECTION 6.05. Mergers, Consolidations, Sales of Assets and Acquisitions. Merge into or consolidate with any other Person, or permit any
other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or any part of its assets (whether now owned or hereafter acquired), or issue, sell, transfer
or otherwise dispose of any Equity Interests of any Subsidiary or preferred equity interests of the Company (except to the extent that no cash interest or other cash payments are required in respect thereof), or purchase, lease or otherwise acquire
(in one transaction or a series of transactions) all or any substantial part of the assets of any other Person, except that this Section shall not prohibit: 

(a) (i) the purchase and sale of inventory, supplies, services, materials and equipment and the purchase and sale of contract rights or
licenses or leases of intellectual property, in each case in the ordinary course of business by the Company or any Subsidiary, (ii) the sale of any other asset in the ordinary course of business by the Company or any Subsidiary, (iii) the
sale of surplus, obsolete or worn out equipment or other property in the ordinary course of business by the Company or any Subsidiary or (iv) the sale of Permitted Investments in the ordinary course of business; 

(b) if at the time thereof and immediately after giving effect thereto no Event of Default shall have occurred and be continuing,
(i) (A) the merger or consolidation of any Subsidiary into the Company in a transaction in which the Company is the surviving corporation or (B) the merger or consolidation of any Subsidiary that is not a Loan Party into any Foreign
Borrower in a transaction in which such Foreign Borrower is the surviving corporation, (ii) the merger or consolidation of any Subsidiary into or with any Domestic Loan Party in a transaction in which the surviving or resulting entity is a
Domestic Loan Party and, in the case of each of clauses (i)(A) and (ii), no Person other than the Company or a Domestic Loan Party receives any consideration or, in the case of clause (i)(B), no Person other than the applicable Foreign Borrower
receives any consideration, (iii) the merger or consolidation of any Subsidiary that is not a Loan Party into or with any other Subsidiary that is not a Loan Party or (iv) the liquidation or dissolution (other than the Borrowers) or change
in form of entity of the Company or any Subsidiary if the Company determines in good faith that such liquidation or dissolution is in the best interests of the Company and is not materially disadvantageous to the Lenders; 

(c) sales, transfers, leases or other dispositions to the Company or a Subsidiary (upon voluntary liquidation or otherwise); provided
that any sales, transfers, leases or other dispositions by a Loan Party to a Subsidiary that is not a Loan Party shall be made in compliance with Section 6.07; provided further that the aggregate gross proceeds of any sales,
transfers, leases or other dispositions by a Domestic Loan Party to a Subsidiary that is not a Domestic Loan Party in reliance upon this paragraph (c) and the aggregate gross proceeds of any or all assets sold, transferred or leased in reliance
upon paragraph (h) below shall not exceed, in any fiscal year of the Company, U.S.$50.0 million; 
 (d) Sale and Lease-Back Transactions
permitted by Section 6.03; 
 (e) Investments permitted by Section 6.04, Liens permitted by Section 6.02 and dividends,
distributions and repurchases of Equity Interests permitted by Section 6.06; 

  
 99 

 
such securities and (y) during the six-month period immediately prior to the scheduled maturity date of the 2018 Senior Subordinated Notes, the Company will not permit Liquidity to be less
than the principal amount of the 2018 Senior Subordinated Notes as is then outstanding at such time. 
 SECTION 6.11. Interest Coverage
Ratio. The Company will not permit the ratio (the “Interest Coverage Ratio”), determined as of the end of each of its fiscal quarters ending on and after September 30, 2017, of (i) EBITDA to (ii) Cash Interest
Expense, in each case for the period of four (4) consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated for the Company and its Subsidiaries on a consolidated basis, to be less than 3.00 to 1.00; provided
that to the extent any Asset Disposition or any Asset Acquisition (or any similar transaction or transactions for which a waiver or a consent of the Required Lenders pursuant to Section 6.05 has been obtained) or incurrence or repayment of
Indebtedness (excluding normal fluctuations in revolving Indebtedness incurred for working capital purposes) has occurred during the relevant Test Period, the Interest Coverage Ratio shall be determined for the respective Test Period on a Pro Forma
Basis for such occurrences. 
 SECTION 6.12. Leverage Ratio. The Company will not permit the ratio (the “Leverage
Ratio”), determined as of the end of each of its fiscal quarters, of (i) Consolidated Net Debt to (ii) EBITDA for the period of four (4) consecutive fiscal quarters ending with the end of such fiscal quarter, all calculated
for the Company and its Subsidiaries on a consolidated basis, to be greater than (I) 3.75 to 1.00 for the fiscal quarter ending on September 30, 2018, (II) 4.50 to 1.00 for the fiscal quarter ending on December 31, 2018,
(III) 4.25 to 1.00 for the fiscal quarter ending on March 31, 2019, (IV) 4.00 to 1.00 for the fiscal: 

(a)
On and after the Amendment No. 2 Effective Date and so long as both the AXC Trigger Date and the funding of the AXC Incremental Term Loans occur prior to the occurrence of the AXC Expiration Date: (I) 5.50 to 1.00 for the fiscal
quarters ending on June 30, 2019 and September 30, 2019, (II) 5.00 to 1.00 for the fiscal quarter ending on December 31, 2019, (III) 4.50 to 1.00 for the fiscal quarter ending March 31, 2020, (IV) 4.00 to 1.00 for the fiscal
quarter ending June 30, 2020 and (V) 3.50 to 1.00 for the fiscal quarter ending September 30, 2020 and each fiscal quarter thereafter. Notwithstanding the foregoing, only after the maximum Leverage Ratio permitted under this
Section 6.12(a) has been 3.50 to 1.00 for two consecutive fiscal quarters, to the extent any Asset Disposition or any Asset Acquisition (or any similar transaction or transactions that require a waiver or a consent of the Required Lenders
pursuant to Section 6.04 or Section 6.05) or incurrence or repayment of Indebtedness (excluding normal fluctuations in revolving Indebtedness incurred for working capital purposes) has occurred during the relevant Test Period, EBITDA shall
be determined for the respective Test Period on a Pro Forma Basis for such occurrences; provided further that (x) the Company may, by written notice to the Administrative Agent for distribution to the Lenders, elect to increase the maximum
Leverage Ratio to 4.00 to 1.00 for a period of four consecutive fiscal quarters in connection with a Permitted Business Acquisition or a Plant Expansion occurring during the first of such four fiscal quarters if the aggregate consideration paid or
to be paid in respect of such Permitted Business Acquisition or Plant Expansion exceeds $100,000,000 (each such period, an “Adjusted Covenant Period”) and (y) notwithstanding the foregoing clause (x), (i) the Company may not
elect an Adjusted Covenant Period for at least two (2) full fiscal quarters following the end of an Adjusted Covenant Period before a new Adjusted Covenant Period is available again pursuant to the preceding clause (x) for a new period of
four consecutive fiscal quarters and (ii) the Company may only elect one (1) Adjusted Covenant Period in respect of a Plant Expansion during the term of this Agreement. 

  
 106 

 (b) On and
after the AXC Expiration Date unless both the AXC Trigger Date and the funding of the AXC Incremental Term Loans occur prior to the occurrence of the AXC Expiration Date: (I) 4.00 to 1.00 for the fiscal quarters ending on June 30,
2019 and September 30, 2019, (VII) 3.75 to 1.00 for the fiscal quarter ending on December 31, 2019 and
(VIIII) 3.50 to 1.00 for the fiscal quarter ending March 31, 2020 and each fiscal quarter thereafter. Notwithstanding the foregoing, to the extent any Asset
Disposition or any Asset Acquisition (or any similar transaction or transactions that require a waiver or a consent of the Required Lenders pursuant to Section 6.04 or Section 6.05) or incurrence or repayment of Indebtedness (excluding
normal fluctuations in revolving Indebtedness incurred for working capital purposes) has occurred during the relevant Test Period, EBITDA shall be determined for the respective Test Period on a Pro Forma Basis for such occurrences; provided
further that (x) the Company may, by written notice to the Administrative Agent for distribution to the Lenders and not more than an aggregate total of two (2) times during the term of this Agreement, elect to increase the maximum
Leverage Ratio to 4.00 to 1.00 for a period of four consecutive fiscal quarters in connection with a Permitted Business Acquisition or a Plant Expansion occurring during the first of such four fiscal quarters if the aggregate consideration paid or
to be paid in respect of such Permitted Business Acquisition or Plant Expansion exceeds $100,000,000 (each such period, an “Adjusted Covenant Period”) and (y) notwithstanding the foregoing clause (x), (i) the Company may
not elect an Adjusted Covenant Period prior to the fiscal quarter ending December 31, 2019, (ii) the Company may not elect an Adjusted Covenant Period for at least two (2) full fiscal quarters following the end of an Adjusted Covenant
Period before a new Adjusted Covenant Period is available again pursuant to the preceding clause (x) for a new period of four consecutive fiscal quarters and (iii) the Company may only elect one (1) Adjusted Covenant Period in respect
of a Plant Expansion during the term of this Agreement. 
 SECTION 6.13. Swap Agreements. Enter into any Swap Agreement, other than
(a) any Swap Agreement required by any Permitted Receivables Financing, (b) Swap Agreements entered into in the ordinary course of business to hedge or mitigate risks to which the Company or any Subsidiary is exposed in the conduct of its
business or the management of its liabilities, (c) Swap Agreements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with
respect to any interest-bearing liability or investment of the Company or any Subsidiary, (d) forward contracts entered into in connection with an accelerated share repurchase program with respect to purchases of Equity Interests permitted
under Section 6.06 of this Agreement, (e) Permitted Call Spread Swap Agreements and (f) any indenture governing Permitted Convertible Notes issued pursuant to Section 6.01(l). 

SECTION 6.14. Designated Senior Debt. Designate any Indebtedness of the Company or any of the Subsidiaries other than (i) the
Obligations hereunder and (ii) senior Permitted Debt Securities as “Designated Senior Indebtedness” under, and as defined in, the Senior Subordinated Note Indenture or as “senior indebtedness” or “designated
senior indebtedness” or words of similar import under and in respect of any other indenture, agreement or instrument under which any other Subordinated Indebtedness is outstanding. 

ARTICLE VII 
 EVENTS OF DEFAULT

 SECTION 7.01. Events of Default. In case of the happening of any of the following events (“Events of Default”):

  
 107 

 (a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority
to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 
 (b) the
effects of any Bail-In Action on any such liability, including, if applicable: 
 (i) a reduction in full or in part or
cancellation of any such liability; 
 (ii) a conversion of all, or a portion of, such liability into shares or other
instruments of ownership in such EEA Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of
any rights with respect to any such liability under this Agreement or any other Loan Document; or 
 (iii) the variation of
the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 

SECTION 9.25. Acknowledgement Regarding any Supported QFCs. To the extent that the
Loan Documents provide support, through a guarantee or otherwise, for Swap Agreements or any other agreement or instrument that is a QFC (such support “QFC Credit Support” and each such QFC a “Supported QFC”), the parties
acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with
the regulations promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may
in fact be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States): 

In the event a Covered Entity that is party to a Supported QFC (each, a
“Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such
QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the
Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered
Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are
permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United
States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC
Credit Support. 

  
 133 

 EXHIBIT F-2 

FORM OF 

AXC TRIGGER DATE SOLVENCY CERTIFICATE OF CHART INDUSTRIES, INC. 

This Solvency Certificate is being executed and delivered pursuant to
Section 4.03(f) of the Third Amended and Restated Credit Agreement dated as of November 3, 2017, among Chart Industries, Inc., a Delaware corporation (the “Company”), Chart Industries Luxembourg S.à r.l., a private limited
liability company (société à responsabilité limitée), incorporated under
the laws of Luxembourg (“Chart Luxembourg”), Chart Asia Investment Company Limited, a private limited company incorporated under the laws of Hong Kong (“Chart Hong Kong”, and together with the Company and Chart Luxembourg, the
“Borrowers”), the Lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the Lenders. Terms defined in the Credit Agreement are used herein with the same
meanings. 
 I,
[            ], the chief financial officer of the Company, solely in such capacity and not in an individual capacity, hereby certify that I am the chief financial officer of the Company
and that I am generally familiar with the businesses and assets of the Company and its Subsidiaries (taken as a whole), I have made such other investigations and inquiries as I have deemed appropriate and I am duly authorized to execute this
Solvency Certificate on behalf of the Company pursuant to the Credit Agreement. 

I further certify, solely in my capacity as chief financial officer of the Company,
and not in my individual capacity, as of the date hereof, and after giving effect to the AXC Transactions and the incurrence of the indebtedness and obligations being incurred in connection with this Agreement, the AXC Transactions and the
Transactions on the date hereof, that, with respect to the Company and its Subsidiaries on a consolidated basis, (a) the sum of the liabilities of the Company and its Subsidiaries, taken as a whole, does not exceed the present fair saleable
value of the assets of the Company and its Subsidiaries, taken as a whole; (b) the capital of the Company and its Subsidiaries, taken as a whole, is not unreasonably small in relation to the business of the Company and its Subsidiaries, taken
as a whole, contemplated on the date hereof and (c) the Company and its Subsidiaries, taken as a whole, do not intend to incur, or believe that they will incur, debts including current obligations beyond their ability to pay such debt as they
mature in the ordinary course of business. For the purposes hereof, the amount of any contingent liability at any time shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount
that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5). 

[Signature Page Follows] 

  

F-2-1 

 IN WITNESS WHEREOF, I have executed this Solvency
Certificate on the date first written above. 
  

			
	CHART INDUSTRIES, INC., as the Company
		
	By:	 	          

		 	Name:
		 	Title: Chief Financial Officer

  

F-2-2

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