Document:

EX-10.1

 Exhibit 10.1 

AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT 

This Amendment No. 1 to Amended and Restated Credit Agreement (“Amendment”) is made as of March 25, 2015
(“Amendment No. 1 Effective Date”) among MANITEX INTERNATIONAL, INC., a Michigan corporation, MANITEX, INC., a Texas corporation, MANITEX SABRE, INC., a Michigan corporation, BADGER EQUIPMENT
COMPANY, a Minnesota corporation, and MANITEX LOAD KING, INC., a Michigan corporation (each, individually a “US Borrower,” and collectively the “US Borrowers”) and MANITEX LIFTKING, ULC, an Alberta
company (the “Canadian Borrower” and, together with the US Borrowers, the “Borrowers” and each individually, a “Borrower”) and the other Credit Parties (as defined in the Credit Agreement, defined
below) and COMERICA BANK, a Texas banking association (in its individual capacity, “Comerica”), as US Agent, US Swing Line Lender, US Issuing Lender and a US Lender, COMERICA BANK, a Texas banking association and
authorized foreign bank under the Bank Act (Canada), through its Toronto branch (in its individual capacity, “Comerica Canada”) as Canadian Agent, Canadian Swing Line Lender, Canadian Issuing Lender and a Canadian Lender,
FIFTH THIRD BANK, an Ohio banking corporation, as a US Lender, (Canadian Lender, Canadian Swing Line Lender, US Lenders and US Swing Line Lender are sometimes referred to herein collectively as the “Lenders”). 

PRELIMINARY STATEMENT 
 The
Borrowers, the Credit Parties, US Agent, Canadian Agent and the Lenders entered into that certain Amended and Restated Credit Agreement dated January 9, 2015 (the “Credit Agreement”) providing terms and conditions governing certain
loans and other credit accommodations extended by the US Agent, Canadian Agent and Lenders to Borrowers (“Obligations”). 

Borrowers, US Agent, Canadian Agent and the Lenders have agreed to amend the terms of the Credit Agreement as provided in this Amendment. 

AGREEMENT 
 1. Defined Terms. In this
Amendment, capitalized terms used without separate definition shall have the meanings given them in the Credit Agreement. 
 2.
Amendment. 
 2.1 The following terms and their respective definitions are hereby added to Section 1.1 of the Credit Agreement
in their respective alphabetical order: 
 “BA-based Rate” shall mean a per annum interest rate which is
equal to the sum of (a) the Applicable Margin, plus (b) the BA Rate. 
 “BA-based Rate Advance”
shall mean an Advance which bears interest at the BA-based Rate. 
 “BA Rate” shall mean, in respect of any
Contract Period, the greater of (a) zero percent (0%), or (b) the rate per annum determined by Canadian Agent by reference to the average rate quoted on the Reuters Screen CDOR Page (or such other Page as may replace such Page on such
Screen for the purpose of displaying Canadian interbank bid rates for Canadian Dollar bankers’ acceptances) applicable to Canadian Dollar bankers’ acceptances with a term comparable to such Contract Period, plus 0.10% as of 10:00 a.m.
(Toronto, Ontario time) on the first day of such Contract Period. If for any reason the Reuters Monitor Screen rates are unavailable, BA Rate 

  
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means the rate of interest determined by Canadian Agent which is equal to the arithmetic mean (rounded to the nearest basis point) of the rates quoted by Bank of Nova Scotia, Royal Bank of Canada
and Canadian Imperial Bank of Commerce in respect of Canadian Dollar bankers’ acceptances with a term comparable to such Contract Period, plus 0.10% as of 10:00 a.m. (Toronto, Ontario time) on the first day of such Contract Period. 

“Contract Period” means, with respect to a BA-based Rate Advance, a period selected by Canadian Borrower as
being a period of approximately one (1) month, two (2) months or three (3) months, commencing on the date which the BA-based Rate Advance is made and ending on a Business Day; provided that the term of a Contract period in respect of
BA-based Rate Advances shall not extend beyond the Canadian Revolving Credit Maturity Date. 
 “Reuters Screen CDOR
Page” means the display designated as page CDOR on the Reuters Moniter Money Rates Service or other page as may, from time to time, replace that page on that service for the purpose of displaying bid quotations for bankers’ acceptances
accepted by leading Canadian banks. 
 2.2 The following terms and their respective definitions contained in Section 1.1 of the Credit
Agreement are hereby amended and restated in their entirety as follows: 
 “Advance(s)” shall mean, as the
context may indicate, (a) with respect to US Borrowers, a borrowing requested by a US Borrower, and made by the US Revolving Credit Lenders under Section 2.1 hereof, the Term Loan Lenders under Section 4.1 hereof, or the US Swing Line
Lender under Section 2.5 hereof, including without limitation any readvance, refunding or conversion of such borrowing pursuant to Section 2.3, 2.5 or 4.4 hereof, and any advance deemed to have been made in respect of a US Letter of Credit
under Section 3.6.1(c) hereof, and shall include, as applicable, a Eurodollar-based Advance, a US Base Rate Advance and a Quoted Rate Advance, and (b) with respect to the Canadian Borrower, a borrowing requested by the Canadian Borrower,
and made by the Canadian Revolving Credit Lenders under Section 2.A.1 hereof, or the Canadian Swing Line Lender under Section 2.A.5 hereof, including without limitation any readvance or refunding of such borrowing pursuant to
Section 2.A.3 hereof, and any advance deemed to have been made in respect of a Canadian Letter of Credit under Section 3.6.2(c) hereof and shall include, as applicable, for Advances in Canadian Dollars, Canadian Prime-based Advances and
BA-based Rate Advances and for Advances in US Dollars, US Prime-based Advances and Eurodollar-based Advances. 

“Applicable Interest Rate” shall mean, (a) with respect to the US Borrowers, (i) for each US
Revolving Credit Advance and Term Loan Advance, the Eurodollar-based Rate or the US Base Rate, and (ii) for each US Swing Line Advance, the US Base Rate or, if made available to the US Borrowers by the US Swing Line Lender at its option, the
Quoted Rate, in each case as selected by the US Borrowers from time to time subject to the terms and conditions of this Agreement, and (b) with respect to the Canadian Borrower, for each Canadian Revolving Credit Advance, (i) outstanding
in US Dollars, the Eurodollar-based Rate or the US Prime-based Rate, and (ii) outstanding in Canadian Dollars, the BA-based Rate or the Canadian Prime-based Rate, and (iii) for each Canadian Swing Line Advance, outstanding in Canadian
Dollars, the Canadian Prime-based Rate and outstanding in US Dollars, the US Prime-based Rate, subject to the terms and conditions of this Agreement. 

“Canadian Revolving Credit Advance” shall mean a borrowing requested by Canadian Borrower and made by the
Canadian Revolving Credit Lenders under Section 2.A.1 of this Agreement, including without limitation any readvance, refunding or conversion of such 

  
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borrowing pursuant to Section 2.A.3 hereof and any deemed disbursement of an Advance in respect of a Canadian Letter of Credit under Section 3.6.2 hereof, and may include, subject to
the terms hereof, Canadian Dollar BA-based Rate Advances and Canadian Prime-based Advances and US Dollar Eurodollar-based Advances and US Prime-based Advances. 

“US Prime Rate” shall mean (i) the per annum rate of interest announced by US Agent, at its main office
from time to time as its “prime rate” then in effect for determining interest rates on US Dollar denominated commercial loans made by it in the United States (with respect to Advances to US Borrowers) and (ii) the per annum rate of
interest announced by the Canadian Agent, at its main office from time to time as its “prime rate” then in effect for determining interest rates on US Dollar denominated commercial loans made by it in Canada (with respect to Advances made
to the Canadian Borrower), it being acknowledged that such announced rates may not necessarily be the lowest rate charged by the applicable Agent to any of its customers and which US Prime Rate shall change simultaneously with any change in the
announced rate. 
 2.3 Paragraph (c) in Section 2.A.2 is hereby amended and restated in its entirety as follows: 

“(c) The Canadian Agent shall maintain the Register pursuant to Section 13.8(g), and a subaccount therein for each
Canadian Revolving Credit Lender, in which Register and subaccounts (taken together) shall be recorded (i) the amount and currency of each Canadian Revolving Credit Advance made hereunder, the type thereof and each Contract Period applicable to
any BA-based Rate Advance, (ii) the amount and currency of any principal or interest due and payable or to become due and payable from Canadian Borrower to each Canadian Revolving Credit Lender hereunder in respect of the Canadian Revolving
Credit Advances, and (iii) the amount and currency of any sum received by the Canadian Agent hereunder from the Canadian Borrower in respect of the Canadian Revolving Credit Advances and each Revolving Credit Lender’s share thereof.”

 2.4 Section 2.A.3 is hereby amended and restated in its entirety as follows: 

“2.A.3 Requests for and Refundings of Advances. The Canadian Borrower may request an Advance of the Canadian
Revolving Credit or a refund of any Canadian Revolving Credit Advance in the same type of Advance only by delivery to the Canadian Agent of a Request for Canadian Revolving Credit Advance executed by an Authorized Signer for the Canadian Borrower,
subject to the following: 
 (a) each such Request for Canadian Revolving Credit Advance shall set forth the information
required on the Request for Canadian Revolving Credit Advance, including without limitation: 
 (i) the proposed date of
such Canadian Revolving Credit Advance (or the refunding of an outstanding Canadian Revolving Credit Advance), which must be a Business Day; 

(ii) whether such Advance is a new Canadian Revolving Credit Advance or a refunding of an outstanding Canadian Revolving
Credit Advance; 
 (iii) if such Canadian Revolving Credit Advance is a US Dollar Advance whether such Canadian Revolving
Credit Advance is to be a US Prime-based Advance or a Eurodollar Advance, and except in the case of a US Prime-based Rate, the first 

  
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Eurodollar Interest Period applicable thereto, provided, however, that the initial Canadian Revolving Credit Advance in US Dollars made under this Agreement shall be a US Prime-based Advance in
US Dollars made under this Agreement shall be a US Base Rate Advance, which may then be converted into a Eurodollar Advance in compliance with this Agreement; and 

(iv) if such Canadian Revolving Credit Advance is a Canadian Dollar Advance, whether such Canadian Revolving Credit Advance is
to be a Canadian Prime-based Advance or a BA-based Rate Advance, and, except in the case of a Canadian Prime-based Advance, the first Contract Period applicable thereto, provided, however, that the initial Canadian Revolving Credit Advance in
Canadian Dollars made under this Agreement shall be a Canadian Prime-based Advance, which may be converted into a BA-based Rate Advance in compliance with this Agreement; 

(b) each such Request for Canadian Revolving Credit Advance shall be delivered to Canadian Agent by 12:00 p.m. (Detroit,
Michigan time) three (3) Business Days prior to the proposed date of the Canadian Revolving Credit Advance, except in the case of a Canadian Prime-based Advance or a US Base Rate Advance for which the Request for Canadian Revolving Credit
Advance must be delivered by 12:00 p.m. (Detroit, Michigan time) on the proposed date for such Canadian Revolving Credit Advance; 

(c) on the proposed date of such Canadian Revolving Credit Advance, the sum of (x) the aggregate principal amount of all
Canadian Revolving Credit Advances and Canadian Swing Line Advances outstanding on such date (including, without duplication) the Advances that are deemed to be disbursed by the Canadian Agent under Section 3.6.2(c) hereof in respect of the
Canadian Reimbursement Obligations hereunder, plus (y) the Canadian Letter of Credit Obligations as of such date, in each case after giving effect to all outstanding requests for Canadian Revolving Credit Advances and Canadian Swing Line
Advances and for the issuance of any Canadian Letters of Credit, shall not exceed the lesser of (i) the Canadian Revolving Credit Aggregate Commitment and (ii) the then applicable Canadian Borrowing Base; 

(d) in the case of a Canadian Prime-based Advance or a US Prime-based Advance, the principal amount of the initial funding of
such Advance, as opposed to any refunding or conversion thereof, shall be at least US$100,000, or the Equivalent Amount in Canadian Dollars, as applicable, or the remainder available under the Canadian Revolving Credit Aggregate Commitment if less
than US$100,000; 
 (e) in the case of a Eurodollar -based Advance the principal amount of such Advance, plus the amount of
any other outstanding Canadian Revolving Credit Advance to be then combined therewith having the same Eurodollar-Interest Period, shall be at least US$1,000,000 (or a larger integral multiple of US$100,000) or the remainder available under the
Canadian Revolving Credit Aggregate Commitment if less than US$1,000,000 and at any one time there shall not be in effect more than three (3) different Eurodollar-Interest Periods; 

(f) in the case of a BA-based Rate Advance the principal amount of such Advance, plus the amount of any other outstanding
Canadian Revolving Credit Advance to be then combined therewith having the same Contract Period shall be at least CA$1,000,000 (or a larger integral multiple of CA$100,000) or the remainder available under the Canadian Revolving Credit Aggregate
Commitment if less than CA$1,000,000 and at any one time there shall not be in effect more than three (3) different Contract Periods; 

  
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 (g) an Advance outstanding in one currency cannot be converted to an Advance in
another currency; and 
 (h) a Request for Canadian Revolving Credit Advance, once delivered to the Canadian Agent, shall not
be revocable by the Canadian Borrower and shall constitute a certification by the Canadian Borrower as of the date thereof that: 

(i) all conditions to the making of Canadian Revolving Credit Advances set forth in this Agreement have been satisfied
(including, without limitation, the delivery of the Canadian Borrowing Base Certificate as required in accordance with Section 7.2(b) hereof), and shall remain satisfied to the date of such Canadian Revolving Credit Advance (both before and
immediately after giving effect to such Canadian Revolving Credit Advance); 
 (ii) there is no Default or Event of Default
in existence, and none will exist upon the making of such Canadian Revolving Credit Advance (both before and immediately after giving effect to such Canadian Revolving Credit Advance); and 

(iii) the representations and warranties of the Credit Parties contained in this Agreement and the other Loan Documents are
true and correct in all material respects and shall be true and correct in all material respects as of the date of the making of such Canadian Revolving Credit Advance (both before and immediately after giving effect to such Canadian Revolving
Credit Advance), other than any representation or warranty that expressly speaks only as of a different date; 
 The Canadian
Agent, acting on behalf of the Canadian Revolving Credit Lenders, may also, at its option, lend under this Section 2.A.3 upon the telephone or email request of an Authorized Signer of the Canadian Borrower to make such requests and, in the
event the Canadian Agent, acting on behalf of the Canadian Revolving Credit Lenders, makes any such Advance upon a telephone or email request, an Authorized Signer shall fax or deliver by electronic file to the Canadian Agent, on the same day as
such telephone or email request, an executed Request for Canadian Revolving Credit Advance. The Canadian Borrower hereby authorizes the Canadian Agent to disburse Advances under this Section 2.A.3 pursuant to the telephone or email instructions
of any person purporting to be an Authorized Signer. Notwithstanding the foregoing, the Canadian Borrower acknowledges that the Canadian Borrower shall bear all risk of loss resulting from disbursements made upon any telephone or email request. Each
telephone or email request for an Advance from an Authorized Signer for the Canadian Borrower shall constitute a certification of the matters set forth in the Request for Canadian Revolving Credit Advance form as of the date of such requested
Advance.” 
 2.5 Paragraph (a) of Section 2.A.4 of the Credit Agreement is hereby amended and restated in its entirety as
follows: 
 “(a) Upon receiving any Request for Canadian Revolving Credit Advance from the Canadian Borrower under
Section 2.A.3 hereof, the Canadian Agent shall promptly notify each Canadian Revolving Credit Lender by wire, email, facsimile or telephone (confirmed by wire, email or facsimile) of the amount and currency of such Advance being requested and
the date such Canadian Revolving Credit Advance is to be made by each Canadian Revolving Credit Lender in an amount equal to its Canadian Revolving Credit Percentage of such Advance. Unless such Canadian Revolving Credit Lender’s commitment to
make Canadian Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, 

  
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each such Canadian Revolving Credit Lender shall make available the amount of its Canadian Revolving Credit Percentage of each Canadian Revolving Credit Advance in immediately available funds to
Canadian Agent, as follows: 
 (i) for US Prime-based Advances and Canadian Prime-based Advances, to the Canadian Borrower,
at the Canadian Agent’s Office, not later than 1:00 p.m. (Detroit time) on the date of such Advance; 
 (ii) for
Eurodollar-based Advances to the Canadian Borrower, at Agent’s Correspondent for the account of the Eurodollar Lending Office of Agent, not later than 12:00 p.m. (the time of Agent’s Correspondent) on the date of such Eurodollar-based
Advance; and 
 (iii) for BA-based Rate Advances, to the Canadian Borrower, at Canadian Agent’s Toronto Office, not
later than 12:00 p.m. (Detroit time) on the date of such BA-based Rate Advance.” 
 2.6 Paragraph (b) of Section 2.A.4 of
the Credit Agreement is hereby amended and restated in its entirety as follows: 
 “(b) Subject to submission of an
executed Request for Canadian Revolving Credit Advance by Canadian Borrower without exceptions noted in the compliance certification therein, Canadian Agent shall make available to Canadian Borrower the aggregate of the amounts so received by it
from the Canadian Revolving Credit Lenders in like funds and currencies: 
 (i) for US Prime-based Advances and Canadian
Prime-based Advances to the Canadian Borrower, not later than 1:00 p.m. (Detroit, Michigan time) on the date of such Canadian Revolving Credit Advance, by credit to an account of the Canadian Borrower maintained with the Canadian Agent or to such
other account or third party as the Canadian Borrower may reasonably direct in writing, provided such direction is timely given; 

(ii) for Eurodollar-based Advances, not later than 4:00 p.m. (the time of the Agent’s Correspondent) on the date of such
Canadian Revolving Credit Advance, by credit to an account of the Canadian Borrower maintained with the Agent’s Correspondent or to such other account or third party as the Canadian Borrower may direct, provided such direction is timely given;
and 
 (iii) for BA-based Rate Advances, not later than 4:00 p.m. (Detroit, time) on the date of such Canadian Revolving
Credit Advance, by credit to an account of the Canadian Borrower maintained with the Canadian Agent or to such other account or third party as the Canadian Borrower may reasonably direct in writing, provided such direction is timely given.”

 2.7 Section 2.A.6 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“2.A.6. Interest Payments; Default Interest. 

  
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 (a) Interest on the unpaid balance of all Canadian Prime-based Advances and all
US Prime-based Advances of the Canadian Revolving Credit and the Canadian Swing Line from time to time outstanding shall accrue from the date of such Advance to the date repaid, at a per annum interest rate equal to the Canadian Prime-based Rate, in
the case of Canadian Prime-based Advances and Canadian Swing Line Advances outstanding in Canadian Dollars and the US Prime-based Rate, in the case of US Prime-based Advances and Canadian Swing Line Advances outstanding in US Dollars, and shall be
payable in immediately available funds quarterly in arrears commencing on April 1, 2015, and on the first day of each July, October, January and April thereafter. Whenever any payment under this Section 2.A.6(a) shall become due on a day
which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Interest accruing at the Canadian Prime-based Rate and/or the US Prime-based Rate shall be computed on the basis of a 365 day year (366 day year in
a leap year) and assessed for the actual number of days elapsed, and in such computation effect shall be given to any change in the interest rate resulting from a change in the Canadian Prime Rate and/or the US Prime Referenced Rate on the date of
such change in the Canadian Prime Rate and/or the US Prime Referenced Rate, as applicable. 
 (b) Interest on each
Eurodollar-based Advance of the Canadian Revolving Credit shall accrue at its Eurodollar-based Rate and shall be payable in immediately available funds on the last day of the Eurodollar-Interest Period applicable thereto (and, if any
Eurodollar-Interest Period shall exceed three months, then on the last Business Day of the third month of such Eurodollar-Interest Period, and at three month intervals thereafter). Interest accruing at the Eurodollar-based Rate shall be computed on
the basis of a 360 day year and assessed for the actual number of days elapsed from the first day of the Eurodollar-Interest Period applicable thereto to but not including the last day thereof. 

(c) Interest on each BA-based Rate Advance of the Canadian Revolving Credit shall accrue at its BA-based Rate and shall be
payable in immediately available funds on the last day of the Contract Period applicable thereto (and, if any Contract Period shall exceed three months, then on the last Business Day of the third month of such Contract Period, and at three month
intervals thereafter). Interest accruing at the BA-based Rate shall be computed on the basis of a 365 day year and assessed for the actual number of days elapsed from the first day of the Contract Period applicable thereto to but not including the
last day thereof. 
 (d) Notwithstanding anything to the contrary in the preceding sections, all accrued and unpaid interest
on any Canadian Revolving Credit Advance refunded or converted pursuant to Section 2.A.3 hereof and any Canadian Swing Line Advance refunded pursuant to Section 2.A.5(e) hereof, shall be due and payable in full on the date such Advance is
refunded or converted. 
 (e) In the case of any Event of Default under Section 9.1(i), immediately upon the occurrence
thereof, and in the case of any other Event of Default, immediately upon receipt by the Canadian Agent of notice from the Majority Canadian Revolving Credit Lenders requesting default interest rates (as described in this paragraph), interest shall
be payable on demand on all Canadian Revolving Credit Advances and Canadian Swing Line Advances from time to time outstanding at a per annum rate equal to the Applicable Interest Rate in respect of each such Advance plus, in the case of
Eurodollar-based Advances and BA-based Advances, three percent (3%) for the remainder of the then existing Eurodollar-Interest Period or Contract Period, and at all other times as 

  
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applicable, and for all Canadian Prime-based Advances or US Prime-based Advances from time to time outstanding at a per annum rate equal to the Canadian Prime-based Rate or the US Prime-based
Rate, as applicable, plus three percent (3%).” 
 2.8 Paragraph (a) in Section 2.A.7 of the Credit Agreement is hereby
amended and restated in its entirety as follows: 
 “(a) (i) The Canadian Borrower may prepay all or part of the
outstanding principal of any Canadian Prime-based Advance or any US Prime-based Advance of the Canadian Revolving Credit at any time, provided that, unless the “Sweep to Loan” system shall be in effect in respect of the Canadian Revolving
Credit, after giving effect to any partial prepayment, the aggregate balance of Canadian Prime-based Advance(s) or any US Prime-based Advance(s) of the Canadian Revolving Credit remaining outstanding shall be at least US$250,000 or the Equivalent
Amount in Canadian Dollars; and (ii) subject to Section 2.A.10(c) hereof, Canadian Borrower may prepay all or part of the outstanding principal of any Eurodollar-based Advance or BA-based Rate Advance of the Canadian Revolving Credit at
any time (subject to not less than five (5) Business Days’ notice to Canadian Agent), together with accrued interest on such prepaid amount, provided that, after giving effect to any partial prepayment, the unpaid portion of such Advance
which is to be refunded or converted under Section 2.A.3 hereof shall be at least US$250,000 or the Equivalent Amount in Canadian Dollars.” 

2.9 Section 2.A.9 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“2.A.9. Mandatory Repayment of Canadian Revolving Credit Advances. 

(a) If at any time and for any reason the aggregate outstanding principal amount of Canadian Revolving Credit Advances plus
Canadian Swing Line Advances, plus the outstanding Canadian Letter of Credit Obligations, shall exceed the lesser of (i) the Canadian Revolving Credit Aggregate Commitment (or 103% Canadian Revolving Credit Aggregate Commitment then in effect
solely to the extent due to currency fluctuation), and (ii) the then applicable Canadian Borrowing Base, the Canadian Borrower shall immediately reduce any pending request for a Canadian Revolving Credit Advance on such day by the amount of
such excess and, to the extent any excess remains thereafter, repay any Canadian Revolving Credit Advances and Canadian Swing Line Advances in an amount equal to the lesser of the outstanding amount of such Advances and the amount of such remaining
excess, with such amounts to be applied between the Canadian Revolving Credit Advances and Canadian Swing Line Advances as determined by the Canadian Agent and then, to the extent that any excess remains after payment in full of all Canadian
Revolving Credit Advances and Canadian Swing Line Advances, to provide cash collateral in support of any Canadian Letter of Credit Obligations in an amount equal to the lesser of (x) 105% the amount of such Canadian Letter of Credit Obligations
and (y) the amount of such remaining excess, with such cash collateral to be provided on terms satisfactory to the Canadian Agent. Canadian Borrower acknowledges that, in connection with any repayment required hereunder, it shall also be
responsible for the reimbursement of any prepayment or other costs required under Section 11.1 hereof. Any payments made pursuant to this Section shall be applied first to outstanding Canadian Prime-based Advances and US Prime-based Advances
under the Canadian Revolving Credit, next to Canadian Swing Line Advances and then to BA-based Rate Advances and Eurodollar-based Advances of the Canadian Revolving Credit. 

  
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 (b) Upon the payment in full of the Term Loan and the US Revolving Credit, any
prepayments required to be made on the Term Loan pursuant to Sections 4.8(a), (b), (c) and (d) of this Agreement shall instead be applied to prepay any amounts outstanding under the Canadian Revolving Credit, without resulting in a
permanent reduction in the Canadian Revolving Credit Aggregate Commitment. Subject to Section 10.2 hereof, any payments made pursuant to this Section shall be applied (i) with respect to US Dollar prepayments, first to US Prime-based
Advances under the Canadian Revolving Credit, next to Canadian Swing Line Advances carried at the US Prime-based Rate and then to Eurodollar-based Advances, and (ii) next following conversion of the prepayment amounts from US Dollars to
Canadian Dollars at the then current currency conversion rate, to Canadian Prime-based Advances under the Canadian Revolving Credit, next to Canadian Swing Line Advances carried at the Canadian Prime-based Rate and then to BA-based Rate Advances
under the Canadian Revolving Credit. If any amounts remain thereafter, a portion of such prepayment equivalent to the undrawn amount of any outstanding Canadian Letters of Credit shall be held by Canadian Issuing Lender as cash collateral for the
Canadian Reimbursement Obligations, with any additional prepayment monies being applied to any Fees, costs or expenses due and outstanding under this Agreement.” 

2.10 Section 2.A.10 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“2.A.10. Optional Reduction or Termination of Canadian Revolving Credit Aggregate Commitment. The Canadian
Borrower may, upon at least five (5) Business Days’ prior written notice to the Canadian Agent, permanently reduce the Canadian Revolving Credit Aggregate Commitment in whole at any time, or in part from time to time, without premium or
penalty, provided that: (i) each partial reduction of the Canadian Revolving Credit Aggregate Commitment shall be in an aggregate amount equal to One Million US Dollars (US$1,000,000) or the Equivalent Amount in Canadian Dollars, or a larger
integral multiple of One Hundred Thousand US Dollars (US$100,000), or the Equivalent Amount in Canadian Dollars; (ii) each reduction shall be accompanied by the payment of the Canadian Revolving Credit Facility Fee, if any, accrued and unpaid
to the date of such reduction; (iii) the Canadian Borrower shall prepay in accordance with the terms hereof the amount, if any, by which the aggregate unpaid principal amount of Canadian Revolving Credit Advances and Canadian Swing Line
Advances (including, without duplication, any deemed Advances made under Section 3.6.2 hereof) outstanding hereunder, plus the Canadian Letter of Credit Obligations, exceeds the amount of the then applicable Canadian Revolving Credit Aggregate
Commitment as so reduced, together with interest thereon to the date of prepayment; (iv) no reduction shall reduce the Canadian Revolving Credit Aggregate Commitment to an amount which is less than the aggregate undrawn amount of any Canadian
Letters of Credit outstanding at such time; and (v) no such reduction shall reduce the Canadian Swing Line Maximum Amount unless the Canadian Borrower so elects, provided that the Canadian Swing Line Maximum Amount shall at no time be greater
than the Canadian Revolving Credit Aggregate Commitment; provided, however that if the termination or reduction of the Canadian Revolving Credit Aggregate Commitment requires the prepayment of a BA-based Rate Advance or Eurodollar-based Advance and
such termination or reduction is made on a day other than the last Business Day of the then current Contract Period applicable to such BA-based Rate Advance or Eurodollar-Interest Period, applicable to such Eurodollar-based Advance, as applicable,
then, pursuant to Section 11.1, Canadian Borrower shall compensate the Canadian 

  
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Revolving Credit Lenders and/or the Canadian Swing Line Lender for any losses. Reductions of the Canadian Revolving Credit Aggregate Commitment and any accompanying prepayments of Advances of the
Canadian Revolving Credit shall be distributed by the Canadian Agent to each Canadian Revolving Credit Lender in accordance with its Canadian Revolving Credit Percentage thereof, and will not be available for reinstatement by or readvance to the
Canadian Borrower, and any accompanying prepayments of Advances of the Canadian Swing Line shall be distributed by the Canadian Agent to the Canadian Swing Line Lender and will not be available for reinstatement by or readvance to the Canadian
Borrower. Any reductions of the Canadian Revolving Credit Aggregate Commitment hereunder shall reduce each Canadian Revolving Credit Lender’s portion thereof proportionately (based on the applicable Percentages), and shall be permanent and
irrevocable. Any payments made pursuant to this Section shall be applied first to Advances under the Canadian Revolving Credit, and then to Canadian Swing Line Advances. Payments received by the Canadian Agent pursuant to this
Section shall be applied to the Advances outstanding the currency received, that is if a Canadian Dollar payment is received it shall be applied to Canadian Prime-based Advances in the order described in this Section and if a US Dollar
payment is received it shall be applied to US Prime-based Advances in the order described in this Section.” 
 2.11 The following
Section 2.A.12 is hereby added to the Credit Agreement immediately following Section 2.A.11 of the Credit Agreement: 

“2.A.12 Canadian Prime-based / US Base Rate Advances in Absence of Election or Upon Default. If, (a) as to
any outstanding BA-based Rate Advance or Eurodollar-based Advance of the Canadian Revolving Credit, Canadian Agent has not received payment of all outstanding principal and accrued interest on the last day of the Contract Period or
Eurodollar-Interest Period, applicable thereto, or does not receive a timely Request for Canadian Revolving Credit Advance meeting the requirements of Section 2.A.3 or 2.A.5 hereof with respect to the refunding or conversion of such Advance, or
(b) if on the last day of the Contract Period or Eurodollar-Interest Period, applicable thereto, a Default or an Event of Default shall have occurred and be continuing, then, on the last day of the Contract Period or Eurodollar-Interest Period,
applicable thereto, the principal amount of any BA-based Rate Advance or Eurodollar-based Advance, as the case may be, which has not been prepaid shall, absent a contrary election of the Majority Canadian Revolving Credit Lenders, be converted
automatically to a Canadian Prime-based Advance or a US Prime-based Advance, respectively, and Canadian Agent shall thereafter promptly notify Canadian Borrower of said action. All accrued and unpaid interest on any Advance converted to a Canadian
Prime-based Advance or a US Prime-based Advance, under this Section 2.A.12 shall be due and payable in full on the date such Advance is converted.” 

2.12 Paragraph (c) of Section 10.1 of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“(c) Subject to the definitions of “Contract Period” and “Interest Period” in Section 1.1 of
this Agreement, whenever any payment to be made hereunder shall otherwise be due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and such extension of time shall be included in computing interest,
if any, in connection with such payment.” 

  
 10 

 2.13 Section 12.15 of the Credit Agreement is hereby amended and restated in its entirety
as follows: 
 “12.15 No Reliance on the Agents’ Customer Identification Program. 

(a) Each Lender acknowledges and agrees that neither such Lender, nor any of its Affiliates, participants or assignees, may
rely on an Agent to carry out such Lender’s, Affiliate’s, participant’s or assignee’s customer identification program, or other obligations required or imposed under or pursuant to the USA Patriot Act or the regulations
thereunder, including the regulations contained in 31 CFR 103.121 (as hereafter amended or replaced, the “CIP Regulations”), or the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada), or any other
Anti-Terrorism Law, including any programs involving any of the following items relating to or in connection with the Borrowers or any of their Subsidiaries, any of their respective Affiliates or agents, the Loan Documents or the transactions
hereunder: (i) any identification verification procedures, (ii) any record keeping, (iii) any comparisons with government lists, (iv) any customer notices or (v) any other procedures required under the CIP Regulations, the
Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations, the Proceeds of Crime (Money Laundering) and Terrorist Financing Suspicious Transaction Reporting Regulations, the Cross-border Currency and Monetary Instruments Reporting
Regulations or such other laws. 
 (b) Each Lender or assignee or participant of a Lender that is not organized under the
laws of the United States or a state thereof (and is not excepted from the certification requirement contained in Section 313 of the USA Patriot Act and the applicable regulations because it is both (i) an Affiliate of a depository
institution or foreign bank that maintains a physical presence in the United States or foreign country, and (ii) subject to supervision by a banking authority regulating such affiliated depository institution or foreign bank) shall deliver to
the applicable Agent the certification, or, if applicable, recertification, certifying that such Lender is not a “shell” and certifying to other matters as required by Section 313 of the USA Patriot Act and the applicable regulations
or the Bank Act (Canada): (x) within 10 days after the Effective Date, and (y) at such other times as are required under the USA Patriot Act.” 

2.14 Annex I (Applicable Margin Grid) to the Credit Agreement is hereby deleted and replaced in its entirety with Annex I attached hereto.

 2.15 Exhibit A-2 (Form of Request for Canadian Revolving Credit Advance) to the Credit Agreement is hereby deleted and replaced in its
entirety with Exhibit A-2 attached hereto. 
 3. Consent. Notwithstanding paragraph (b) of Section 4.7 (Optional Prepayment
of Term Loan) of the Credit Agreement, US Agents and the Term Loan Lenders hereby consent to Borrowers’ one-time US$2,000,000 prepayment, on or before April 1, 2015, of the principal installments of the Term Loan that pursuant to
Section 4.3(a) would be due on April 1, 2015, July 1, 2015, October 1, 2015 and January 1, 2016. All other terms and conditions set forth in the Credit Agreement applicable to principal prepayments remain in full
force and effect, including but not limited to paragraph (a) of Section 4.7 of the Credit Agreement. This consent is not a waiver of or consent to any other event, condition, transaction, act or omission whether related or unrelated to any
payment or prepayment of the Term Loan. Borrowers’ Consolidated Fixed Charges and Excess Cash Flow for the quarters ending March 31, 2015, June 30, 2015, September 30, 2015 and December 31, 2015 shall be calculated
assuming the Term Loan was paid in accordance with Section 4.3(a). 

  
 11 

 4. Representations and Warranties. The Borrowers represent, warrant, and agree that: 

(a) Except as expressly modified in this Amendment or as otherwise provided in writing by Borrowers to Lenders, the representations,
warranties, and covenants set forth in the Credit Agreement and in each related document, agreement, and instrument remain true and correct, continue to be satisfied in all respects, and are legal, valid and binding obligations with the same force
and effect as if entirely restated in this Amendment, other than those representations and warranties that expressly relate solely to a specific earlier date, which shall remain correct as of such earlier date. 

(b) When executed, the Agreement, as amended by this Amendment will continue to constitute a duly authorized, legal, valid, and binding
obligation of the Borrowers enforceable in accordance with its terms. The Credit Agreement, as amended, along with each related document, agreement and instrument, is ratified and confirmed and shall remain in full force and effect and the Credit
Parties further represent and warrant that they have taken all actions necessary to authorize the execution and performance of such documents. 

(c) There is no Default or Event of Default existing under the Credit Agreement, or any related document, agreement, or instrument, and no
event has occurred or condition exists that is or, with the giving of notice or lapse of time or both, would be such a default. 
 (d) As
applicable to each such Credit Party, the articles of incorporation, articles of formation, articles of amalgamation, bylaws, operating agreements and resolutions and incumbency certificates of the Borrowers and the Guarantors delivered to US Agent
and Canadian Agent as of the Amendment No. 1 Effective Date and/or in connection the Prior Credit Agreement, have not been repealed, amended or modified since the date of delivery thereof and that same remain in full force and effect. 

5. Successors and Assigns. This Amendment shall inure to the benefit of and be binding upon the parties and their respective successors
and assigns. 
 6. Governing Law. The parties agree that the terms and provisions of this Amendment shall be governed by and
construed in accordance with the laws of the State of Michigan without regard to principles of conflicts of law. 
 7. No Defenses.
The Credit Parties acknowledge, confirm, and warrant to US Agent, Canadian Agent and the Lenders that as of the date hereof the Credit Parties have absolutely no defenses, claims, rights of set-off, or counterclaims against US Agent, Canadian Agent
and the Lenders under, arising out of, or in connection with, this Amendment, the Credit Agreement, the Loan Documents and/or the individual advances under the Obligations, or against any of the indebtedness evidenced or secured thereby. 

8. Ratification. Except for the modifications under this Amendment, the parties ratify and confirm the Credit Agreement and the Loan
Documents and agree that they remain in full force and effect. 
 9. Further Modification; No Reliance. This Amendment may be altered
or modified only by written instrument duly executed by the Credit Parties and the Lenders. In executing this Amendment, the Credit Parties are not relying on any promise or commitment of US Agent, Canadian Agent and/or the Lenders that is not in
writing signed by the applicable Agent and/or the Lenders. 

  
 12 

 10. Acknowledgment and Consent of Guarantors. Each of the US Credit Parties has guaranteed
the payment and performance of the Obligations by Borrowers pursuant to Guaranty dated August 19, 2013 (the “Guaranty”) and with respect to North American Distribution, Inc. and North American Equipment, Inc. by way of joinder dated
as of even date herewith (“Joinder Agreement”). Each of the Guarantors, by signing below, acknowledges and consents to the execution, delivery and performance of this Amendment, and agrees that the Guaranty and Joinder Agreement, as
applicable, remains in full force and effect. Each of the Guarantors further represents that it is in compliance with all of the terms and conditions of its Guaranty or as applicable its Joinder Agreement. 

11. Expenses. Borrowers shall promptly pay all out-of-pocket fees, costs, charges, expenses, and disbursements of US Agent, Canadian
Agent and the Lenders incurred in connection with the preparation, execution, and delivery of this Amendment, and the other documents contemplated by this Amendment. 

12. Effectiveness and Counterparts. This Amendment may be executed in as many counterparts as US Agent, Canadian Agent, the Lenders and
the Borrowers deem convenient, and shall become effective upon delivery to US Agent and Canadian Agent of: (i) all executed counterparts hereof from the Lenders and from Borrowers and each of the Guarantors; (ii) the documents listed on
the Closing Checklist attached hereto as Exhibit A; and (iii) any other documents or items which US Agent or Canadian Agent may require to carry out the terms hereof. 

[Signature Pages Follow] 

  
 13 

 This Amendment No. 1 to Amended and Restated Credit Agreement is executed and delivered on
the Amendment No. 1 Effective Date. 
  

			
	MANITEX INTERNATIONAL, INC.
		
	By:		 /s/ Andrew M. Rooke

			Andrew M. Rooke
	Its:		President
	
	MANITEX, INC.
		
	By:		 /s/ Andrew M. Rooke

			Andrew M. Rooke
	Its:		President
	
	MANITEX SABRE, INC.
		
	By:		 /s/ Andrew M. Rooke

			Andrew M. Rooke
	Its:		President
	
	BADGER EQUIPMENT COMPANY
		
	By:		 /s/ Andrew M. Rooke

			Andrew M. Rooke
	Its:		President
	
	MANITEX LOAD KING, INC.
		
	By:		 /s/ Andrew M. Rooke

			Andrew M. Rooke
	Its:		President
	
	MANITEX LOAD KING, INC.
		
	By:		 /s/ Andrew M. Rooke

			Andrew M. Rooke
	Its:		President

  
 14 

 [Signature Page – Comerica Bank] 

 

			
	COMERICA BANK
		
	By:		 /s/ James Q. Goudie, III

			James Q. Goudie, III
	Its:		Vice President
	
	COMERICA BANK, as US Lender, as US
	Issuing Lender, and as US Swing Line Lender
		
	By:		 /s/ James Q. Goudie, III

			James Q. Goudie, III
	Its:		Vice President
	
	COMERICA BANK, as Canadian Agent
		
	By:		 /s/ Prashant Prakash

			Prashant Prakash
	Its:		Portfolio Risk Manager
	
	COMERICA BANK, as Canadian Lender,
	As Canadian Issuing Lender, and as Canadian
	Swing Line Lender
		
	By:		 /s/ Prashant Prakash

			Prashant Prakash
	Its:		Portfolio Risk Manager

  
 15 

 [Signature Page – US Lender] 

 

			
	FIFTH THIRD BANK, as US Lender
		
	By:		 /s/ Matthew Berman

			Matthew Berman
	Its:		Assistant Vice President

  
 16 

 [Signature Page – Canadian Lender] 

 

			
	FIFTH THIRD BANK, as Canadian Lender
		
	By:		 /s/ Ramin Ganjavi

			 Ramin Ganjavi

	Its:		 Director

  
 17 

 [Signature Page Guarantors] 

 

									
	GUARANTORS:				
	 MANITEX INTERNATIONAL, INC.
				MANITEX, INC.
					
	 By:
		 /s/ Andrew M. Rooke
				By:		 /s/ Andrew M. Rooke

			 Andrew M. Rooke
						 Andrew M. Rooke

	Its:		 President
				Its:		 President

			
	 MANITEX SABRE, INC.
				BADGER EQUIPMENT COMPANY
					
	 By:
		 /s/ Andrew M. Rooke
				By:		 /s/ Andrew M. Rooke

			 Andrew M. Rooke
						 Andrew M. Rooke

	 Its:
		 President
				Its:		 President

			
	 MANITEX LOAD KING, INC.
				LIFTKING, INC.
					
	 By:
		 /s/ Andrew M. Rooke
				By:		 /s/ Andrew M. Rooke

			 Andrew M. Rooke
						 Andrew M. Rooke

	 Its:
		 President
				Its:		 President

			
	 MANITEX, LLC
				NORTH AMERICAN EQUIPMENT, INC.
					
	 By:
		 /s/ Andrew M. Rooke
				By:		 /s/ Andrew M. Rooke

			 Andrew M. Rooke
						 Andrew M. Rooke

	 Its:
		 President
				Its:		 President

				
	 NORTH AMERICAN DISTRIBUTION, INC.
						
					
	 By:
		 /s/ Andrew M. Rooke
						
			 Andrew M. Rooke
						
	 Its:
		 President
						

  
 18 

 ANNEX I 

Applicable Margin Grid 

Revolving Credit and Term Loan Facilities 

(basis points per annum) 
  

																					
	 Basis for Pricing
	  	Level I	 	  	Level II	 	  	Level III	 	  	Level IV**	 	  	Level V	 
	 Consolidated North American Total Debt to Consolidated North American EBITDA Ratio *
	  	 	<3.00 to 1.00	  	  	 
 	>3.00 to 1.00
<3.50 to 1.00	  
  	  	 
  
	>3.50 to 1.00
 <4.00 to 1.00
	  
   
	  	 
  
	>4.00 to 1.00
 <4.50 to 1.00
	  
   
	  	 	>4.50 to 1.00	  
	 US Revolving Credit Eurodollar Margin
	  	 	275	  	  	 	300	  	  	 	325	  	  	 	350	  	  	 	400	  
	 US Revolving Credit US Base Rate Margin
	  	 	175	  	  	 	200	  	  	 	225	  	  	 	250	  	  	 	300	  
	 US Revolving Credit Facility Fee
	  	 	37.5	  	  	 	50	  	  	 	50	  	  	 	50	  	  	 	50	  
	 US Letter of Credit Fees (exclusive of facing fees)
	  	 	275	  	  	 	300	  	  	 	325	  	  	 	350	  	  	 	400	  
	 Term Loan Eurodollar Margin
	  	 	325	  	  	 	350	  	  	 	375	  	  	 	400	  	  	 	450	  
	 Term Loan US Base Rate Margin
	  	 	225	  	  	 	250	  	  	 	275	  	  	 	300	  	  	 	350	  
	 Canadian Revolving Credit Canadian Prime-based Margin
	  	 	275	  	  	 	300	  	  	 	325	  	  	 	350	  	  	 	400	  
	 Canadian Revolving Credit US Prime-based Margin
	  	 	175	  	  	 	200	  	  	 	225	  	  	 	250	  	  	 	300	  
	 Canadian Revolving Credit Facility Fee
	  	 	50	  	  	 	50	  	  	 	50	  	  	 	50	  	  	 	50	  
	 Canadian BA-based Rate (for Canadian Dollar advances) and Eurodollar Rate (for US Dollar Advances)
	  	 	275	  	  	 	300	  	  	 	325	  	  	 	350	  	  	 	400	  
	 Canadian Letter of Credit Fees (exclusive of facing fees)
	  	 	275	  	  	 	300	  	  	 	325	  	  	 	350	  	  	 	400	  

 *    Definitions as set forth in the Credit
Agreement.    **    Pricing grid level as of January 9, 2015 

  
 19 

 EXHIBIT “A” 

DOCUMENTATION CHECKLIST 
  

			
	US Borrowers:		 Manitex International, Inc., a Michigan corporation

Manitex, Inc. a Texas corporation
 Manitex Sabre, Inc., a Michigan
corporation
 Badger Equipment Company, a Minnesota corporation

Manitex Load King, Inc., a Michigan corporation

		
	Canadian Borrower:		Manitex Liftking, ULC, an Alberta corporation
		
	Agent:		 Comerica Bank, as US Agent for all Lenders

Comerica Bank, as Canadian Agent for all Canadian Lenders

		
	Guarantors:		 Liftking, Inc. (with respect to debt of all Borrowers)

Manitex, LLC (with respect to debt of all Borrowers)
 All US
Borrowers (with respect to debt of Canadian Borrower)
 North American Distribution, Inc. (with respect to debt of all Borrowers)

North American Equipment, Inc. (with respect to debt of all Borrowers)

		
	Subordinated Creditors:		Terex Corporation, MI Convert Holdings LLC and Invemed Associates LLC a New York limited liability company
		
	Transaction:		Amendment No. 1 to Amended and Restated Credit Agreement
		
	Closing Date:		March     , 2015

  

	I.	LOAN DOCUMENTATION 

  

	 	A.	Loan Documents 

  

	 	1.	Amendment No. 1 to Credit Agreement. 

  

	 	2.	Closing Certificate 

  

	 	3.	Secretary’s Certificate – Manitex, LLC 

  

	 	4.	Amended and Restated Operating Agreement – Manitex, LLC 

  
 20 

 EXHIBIT A-2 

FORM OF REQUEST FOR CANADIAN REVOLVING CREDIT ADVANCE 
  

			
	 No.
5280.                    
		 Dated:             ,
20    

 TO:   Comerica Bank, as Canadian Agent 
  

			
	RE:		Amended and Restated Credit Agreement made as of the 9th day of January, 2015 (as amended, restated or otherwise modified from time to time, the “Credit Agreement”) by and among MANITEX LIFTKING, ULC, an Alberta
company (the “Canadian Borrower”), MANITEX INTERNATIONAL, INC., a Michigan corporation, MANITEX, INC., a Texas corporation, MANITEX SABRE, INC., a Michigan corporation, BADGER EQUIPMENT COMPANY, a Minnesota corporation and MANITEX
LOAD KING, INC., a Michigan corporation, the other Credit Parties (as defined in the Credit Agreement) from time to time party thereto, the financial institutions from time to time signatory thereto, Comerica Bank, a Texas banking association, in
its capacity as US Agent (as defined in the Credit Agreement), for and on behalf of the US Lenders (as defined in the Credit Agreement), Comerica Bank, a Texas banking association and authorized foreign bank under the Bank Act (Canada), in its
capacity as the Canadian Agent (as defined in the Credit Agreement and referred to herein as the “Canadian Agent”), for and on behalf of the Canadian Lenders (as defined in the Credit Agreement and referred to herein as the
“Canadian Lenders”).

 Pursuant to the terms and conditions of the Credit Agreement, Canadian Borrower hereby requests a Canadian
Revolving Credit Advance from Canadian Lenders, as described herein: 
 Date of Canadian Revolving Credit
Advance:                                       
                                         
     
  ̈ (check if applicable) 

This Canadian Revolving Credit Advance is or includes a whole or partial refunding of: 

					
	 Advance No(s).
		  
		

 Type of Canadian Revolving Credit Advance (check only one): 

 ̈ Canadian Dollar Advance 

        Canadian Prime-based Advance  ̈ 

        BA-based Rate Advance  ̈ 

 ̈ US Dollar Advance: 

        US Prime-based Advance  ̈ 

        Eurodollar-based Advance  ̈ 

Amount of Canadian Revolving Credit Advance: 

$                       
                                         
     
 Contract Period (applicable to BA-based Rate Advances)
             months 
 Eurodollar Interest Period (applicable to
Eurodollar-based Advances)              months 

  
 21 

 Disbursement Instructions 

 ̈ Comerica Bank Account No. 

 ̈
Other:                                        
                             

Canadian Borrower certifies to the matters in Section 2.A.3 (f) of the Credit Agreement. 

Capitalized terms used herein, except as defined to the contrary, have the meanings given them in the Credit Agreement. 

 

			
	MANITEX LIFTKING, ULC
		
	By:		  

		
	Its:		  

  
 22EXHIBIT 10.11

 Exhibit 10.11 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) is made as of this 5th day of January, 2015, by and among i4c
Innovations Inc., a Delaware corporation and wholly owned subsidiary of the Parent Company (as defined below) (the “Corporation”), Jeff Noce, an individual, residing at 8524 Radford Avenue, Alexandria, VA 22309 (the
“Executive”), and Intersections Inc., a Delaware corporation, with offices at 3901 Stonecroft Boulevard, Chantilly, Virginia 20151 (the “Parent Company”) for the limited purposes set forth herein. This
Agreement shall be effective as of January 1, 2015. 
 W I T N E S S E T H: 

WHEREAS, the Corporation is a wholly owned subsidiary of the Parent Company; and 

WHEREAS, the Corporation desires to continue to employ the Executive and the Executive desires to accept such continued employment upon
the terms and conditions contained in this Agreement; 
 NOW, THEREFORE, for and in consideration of the premises and the mutual
covenants and agreements herein contained, and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 

1. Employment. The Corporation hereby employs the Executive, and the Executive hereby accepts employment, as the President of the
Corporation under the terms and conditions set forth herein. 
 2. Term. This Agreement and the Executive’s employment are for
an indefinite term. Therefore, the Executive is employed on an at-will basis and either the Executive or the Corporation may terminate his employment at any time and for any reason, with or without “cause” including, without limitation, as
defined in paragraph 6.c.; provided, however, other than in the case of termination by the Corporation for “cause” as defined in paragraph 6.c. or due to the Executive’s death or disability as set forth in paragraphs
6.a. or 6.b., both the Corporation and the Executive shall give the other 30 days’ prior written notice of termination. Notwithstanding the foregoing, the Corporation may, at its option, provide a cash payment up to 30 days’ Base Salary in
lieu of such 30 days’ notice or any portion thereof. 
 3. Duties. 

a. While the Executive is employed pursuant to this Agreement, he shall perform such duties and discharge such responsibilities as the
Chairman (the “Chairman”) of the Board of Directors of the Corporation (the “Board of Directors”) and the Board of Directors shall from time to time direct, which duties and responsibilities shall be commensurate
with the Executive’s position. The Executive shall perform his duties and discharge his responsibilities from the Corporation’s principal office in Chantilly, Virginia, other than normal and customary business travel, which is also a duty
and requirement of the Executive’s employment with the Corporation. The Executive shall comply fully with all applicable laws, rules and regulations as well as with the Corporation’s and the Parent Company’s policies and procedures.
The Executive shall devote his entire working time to the business of the Corporation and shall use his best 

 
efforts, skills and abilities in his diligent and faithful performance of his duties and responsibilities hereunder. While the Executive is employed pursuant to this Agreement, he shall not
engage in any other business activities or hold any office or position, regardless of whether any such activity, office or position is pursued for profit or other pecuniary advantage, without the prior written consent of the Corporation;
provided, however, the Executive may engage in (i) personal investment activities for himself and his family and (ii) charitable and civic activities, so long as such outside interests set forth in subsections (i) and
(ii) hereof do not interfere with the performance of his duties and responsibilities hereunder. 
 b. The Board of Directors and the
Chairman reserve the right from time to time to assign to the Executive additional duties and responsibilities and to delegate to other employees of the Corporation duties and responsibilities normally discharged by the Executive. All such
assignments and delegations of duties and responsibilities shall be made in good faith and shall not materially affect the general character of the work to be performed by the Executive. The Executive shall hold such officerships and directorships
in the Parent Company and the Corporation and any of their respective subsidiaries to which, from time to time, the Executive may be appointed or elected with no additional compensation payable to the Executive. 

4. Compensation and Related Matters. As full compensation for the Executive’s performance of his duties and responsibilities
during his employment pursuant to this Agreement, the Corporation shall pay the Executive the compensation and provide the benefits set forth below: 

a. Base Salary. The Corporation shall pay the Executive an annual salary (the “Base Salary”) equal to $400,000, less
applicable withholding and other deductions, payable in accordance with the Corporation’s then current payroll practices. Commencing in 2016, the Base Salary will be reviewed at least annually by the Chairman and may be increased, but not
decreased, in its sole discretion, in which event any increased Base Salary shall be deemed the Base Salary under this Agreement. 
 b.
Bonus. For each full calendar year of the Executive’s employment, the Executive shall be eligible to participate in a bonus plan (“Bonus Plan”). The Bonus Plan shall be as determined in the sole discretion of the
Chairman, subject to financial, tax and legal analysis, and the approval by the Board of Directors (and/or the Board of Directors of the Parent Company or Compensation Committee thereof). The Executive’s participation in the Bonus Plan shall be
subject to the plan terms and conditions (which may be based on such factors as the Board of Directors (and/or the Board of Directors of the Parent Company or Compensation Committee thereof) determine in its or their sole discretion, including the
performance of the Corporation, its direct and indirect subsidiaries or parent entities and/or the Executive) adopted by the Board of Directors (and/or the Board of Directors of the Parent Company or Compensation Committee thereof). Without limiting
the generality of the foregoing, to be eligible for a bonus under the Bonus Plan, the Executive must be in an “active working status” at the time of bonus payment. For purposes of this Agreement, “active working status”
shall mean that the Executive has not resigned (or given notice of his intention to resign) and has not been terminated for any reason, with or without “cause” including, without limitation, as defined in paragraph 6.c. (or been given
notice of termination), except as otherwise provided in paragraph 6 hereof. 

  
 2 

 c. Benefits. The Executive shall be entitled to participate in, and receive benefits from,
any health, welfare and retirement plans and programs (including, but not limited to, medical, dental, life insurance, disability and 401(k)), if any are adopted, of the Corporation or any employing subsidiary which may be in effect from time to
time during the Executive’s employment by the Corporation and/or employing subsidiary, on the same basis as those benefits are generally made available to other senior executives of the Corporation and/or employing subsidiary, subject to the
terms and conditions of such plans as may be in effect from time to time. 
 d. Equity Awards. For so long as the Corporation is at
least a majority owned subsidiary or controlled affiliate of the Parent Company, the Executive shall be considered for equity or equity based awards by the Board of Directors of the Parent Company (and/or Compensation Committee thereof) on a similar
basis as generally made available to other senior officers of the Parent Company (other than the Parent Company’s Chief Executive Officer). Any such grants or awards shall be made at the sole discretion of the Board of Directors of the Parent
Company and/or Compensation Committee thereof and the terms of such grants or awards, if any, shall be set forth in the applicable plans and award agreements. 

e. Leave. The Executive shall be eligible to receive and take paid leave that the Corporation generally makes available to its senior
officers in accordance with the Corporation’s leave policies (as may be revised from time to time). 
 f. Car Allowance. The
Corporation shall provide the Executive with an annual car allowance (the “Car Allowance”), which shall be applied to the purchase or lease of a vehicle. The Car Allowance shall equal 4% of the Executive’s Base Salary, less
applicable withholding and other deductions, and shall be divided into equal payments and paid on the same basis as the Corporation’s payroll. The Executive shall be responsible for the maintenance and operation of the vehicle and the costs
associated with the same, including, without limitation, insurance. 
 g. Insurance, Indemnification and Related Matters. While the
Executive is employed by the Corporation and for so long as there exists potential for liability thereafter with regard to the Executive’s activities during his employment on behalf of the Corporation, the Parent Company or any of its
subsidiaries or affiliates (regardless of whether as an employee, officer, or member of the Board of Directors or in any other capacity on behalf of the Parent Company or any of its subsidiaries or affiliates), the Corporation and/or the Parent
Company shall (i) indemnify, defend and hold harmless the Executive and (ii) advance payment of costs and expenses incurred by the Executive in defense of any such action, suit or proceeding to which the Executive is made a party or is
threatened to be made a party (provided the Executive shall repay such expenses in the event it is ultimately determined he is not entitled to such indemnification), in each case on terms and conditions no less favorable than the Parent Company
and/or the Corporation, as applicable, provides at any time during the Executive’s employment or afterwards to its other executive officers and members of the Board of Directors. During the Executive’s employment and for 6 years
thereafter, the Executive shall be entitled, at 

  
 3 

 
the Parent Company’s and/or the Corporation’s, as applicable, expense, to the same directors’ and officers’ liability insurance coverage that the Parent Company and/or the
Corporation provides generally to its other executive officers and members of the Board of Directors, as may be amended from time to time, provided that such insurance coverage following the Executive’s employment shall be on terms and
conditions no less favorable to the Executive than those in effect at the expiration or termination of his employment. The rights provided by this paragraph 4.g. shall be in addition to any other rights to which the Executive may be entitled under
any of the organizational documents of the Parent Company, the Corporation or any of its subsidiaries or affiliates, any agreement, pursuant to any vote of the holders of equity interests or securities of the Parent Company or any of its
subsidiaries or affiliates, as a matter of law or otherwise. 
 5. Expenses. The Corporation or its subsidiaries shall reimburse the
Executive for expenses which the Executive may from time to time reasonably incur on behalf of and at the request of the Corporation in the performance of his responsibilities and duties under this Agreement, provided that the Executive shall be
required to account to the Corporation for such expenses in the manner prescribed by the Corporation. 
 6. Termination. This
Agreement and the Executive’s employment shall terminate: 
 a. immediately upon the Executive’s death; or 

b. upon the Executive’s disability. For purposes of this Agreement, the term “disability” shall mean that the Executive
is (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12
months or (ii) by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits
for a period of not less than 3 months under an accident and health plan covering employees of the service provider’s employer; or 

c. upon the existence of cause. For purposes of this Agreement, “cause” shall mean that the Executive: (i) has been
convicted of, or entered a plea of nolo contendre to, a misdemeanor involving moral turpitude or any felony under the laws of the United States or any state or political subdivision thereof; (ii) has committed an act constituting a
breach of fiduciary duty, fraud, gross negligence or willful misconduct; (iii) has engaged in conduct that violated the Corporation’s (or the Parent Company’s) then existing internal policies or procedures and which is materially
detrimental to the business, reputation, character or standing of the Parent Company or the Corporation or any of their subsidiaries; or (iv) after written notice to the Executive and a reasonable opportunity of at least 30 days to cure, the
Executive shall continue (x) to be in material breach of the terms of this Agreement; (y) to fail or refuse to attend to the material duties and responsibilities reasonably assigned to him by the Board of Directors or the Chairman
consistent with his authority, position and responsibilities on the date hereof; or (z) to be absent excessively for reasons unrelated to disability; or 

d. upon the existence of good reason. For purposes of this Agreement, the following shall constitute “good reason”: the
existence of one or more of the following events has occurred without the written consent of the Executive: (i) a material reduction in the 

  
 4 

 
Executive’s Base Salary; (ii) the relocation of the Executive’s office to a location outside of a 30- mile radius from the Corporation’s present Chantilly, Virginia location;
(iii) a material breach by the Corporation or the Parent Company, as applicable, of the terms of this Agreement; or (iv) following a “change in control” as defined in paragraph 6.e hereof, a material diminution in the
Executive’s authority, duties or responsibilities; provided, however, that none of the events described herein will constitute good reason unless the Executive has first provided written notice to the Corporation of the occurrence
of the applicable event(s) within 90 days of the initial existence of such event and the Corporation (or, if applicable, the Parent Company) fails to cure such event within 30 days after its receipt of such written notice and, if uncured, the
termination is effective (and the Executive terminates) as of the end of such 30 day cure period. 
 e. for the purposes of this Agreement,
the term “change in control” shall mean that: 
 (i) any “person” or “group” (as such terms are used
in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than the Parent Company, any existing director or officer of the Parent Company, any trustee or other fiduciary holding securities
under an employee benefit plan of the Parent Company, or any corporation owned, directly or indirectly, by the stockholders of the Parent Company in substantially the same proportions as their ownership of stock of the Parent Company, becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Parent Company representing 30% or more of the Common Stock of the Parent Company; or 

(ii) the stockholders of the Parent Company approve a merger or consolidation of the Parent Company with any other corporation, other than a
merger or consolidation which would result in the voting securities of the Parent Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving
entity) more than 50% of the combined voting power of the voting securities of the Parent Company or such surviving entity outstanding immediately after such merger or consolidation; or 

(iii) the stockholders of the Parent Company approve an agreement for the sale or disposition by the Parent Company of all or substantially
all of the Parent Company’s assets; or 
 (iv) the consummation of (A) the sale or disposition by the Corporation of all or
substantially all of the Corporation’s assets or (B) any other transaction (including a merger or consolidation) the result of which is that any “person or “group,” other than the Parent Corporation or any of its
wholly-owned subsidiaries, any existing director or officer of the Parent Corporation or any of its wholly-owned subsidiaries, or any trustee or other fiduciary holding securities under an employee benefit plan of the Parent Corporation or any of
its wholly-owned subsidiaries, becomes the “beneficial owner,” directly or indirectly, of securities of the Corporation representing more than 50% of the voting power of the outstanding voting stock of the Corporation or any of its direct
or indirect parent companies holding directly or indirectly 100% of the total voting power of the voting stock of the Corporation. 

  
 5 

 f. If the Executive’s employment is terminated by: (a) the Corporation pursuant to
paragraph 6.c., or (b) the Executive other than pursuant to paragraph 6.d., then, in full satisfaction of the Corporation’s obligations under this Agreement, the Executive shall be entitled to receive (i) the Base Salary provided for
herein up to and including the effective date of termination, prorated on a daily basis; and (ii) medical benefit continuation at the Executive’s and/or his dependents’ expense as provided by law. 

g. If the Executive’s employment is terminated by: (a) the Corporation pursuant to paragraph 6.a., 6.b. or other than pursuant to
paragraph 6.c. or (b) the Executive pursuant to paragraph 6.d., then, in full satisfaction of the Corporation’s and the Parent Company’s obligations under this Agreement, the Executive, his beneficiaries or estate, as appropriate,
shall be entitled to receive: (i) the Base Salary provided for herein up to and including the effective date of termination, prorated on a daily basis; (ii) any cash bonus which would otherwise be payable to the Executive with respect to
the year prior to the year of termination, to the extent scheduled to be paid in the year of termination and not previously been paid, which shall be due and payable in the year of termination and at the same time as such bonuses for such year are
paid to active employees (but no later than March 15th of the year of termination); (iii) severance in an amount equal 1.5 times the Executive’s Base Salary (2.5 times the
Executive’s Base Salary if the Executive’s employment is terminated upon, or within 12 months following, a change in control), in either case in exchange for a general release in form and content satisfactory to the Corporation (the
“Release”), to be paid in one payment on the 60th day following the date of such termination, provided that the Release must have become effective before the 60th day following such termination; and (iv) medical benefit
continuation at the Executive’s and/or his dependents’ expense as provided by law; provided, however, as additional consideration for the Release, to the extent the Executive and/or his covered dependents elect medical
continuation coverage, the Corporation will pay (or reimburse) the cost of medical benefit continuation (on the same basis and at the same cost as such benefits are currently provided to senior executives of the Corporation) for the Executive and
any covered dependents for up to 18 months or until the Executive and/or his covered dependents are covered by another company’s group health insurance, whichever is sooner; and provided, further, that if the Corporation
determines in good faith that its payment of such cost will result in the imposition of excise taxes or penalties on the Corporation, the Parent Company and/or the insurance carrier with respect to such medical benefits, then the Corporation shall
not pay (or reimburse) such cost and the Corporation shall provide an economically equivalent benefit or payment, to the extent that such benefit or payment is consistent with applicable law and will not result in the imposition of such excise taxes
or penalties. In addition, in the event of (i) the Executive’s death or disability (as defined in paragraph 6.b.), all of the Executive’s outstanding unvested equity and equity based awards shall immediately become vested and any
restrictions thereon shall lapse and, if applicable, become exercisable, and (ii) the event of the Executive’s termination of employment by the Corporation other than pursuant to paragraph 6.c. or termination of employment by the Executive
pursuant to paragraph 6.d., on the Executive’s date of termination of employment, the Executive shall become vested, and all restrictions shall lapse and, if applicable, become exercisable, on the Executive’s outstanding equity and equity
based awards that would have vested in the 12 months following the Executive’s date of termination of employment if the Executive had remained employed by the Corporation. 

  
 6 

 h. The Executive hereby acknowledges that he is employed by the Corporation for an indefinite
term and nothing in this Agreement, including, without limitation, this paragraph 6, changes the at-will nature of his employment. 
 7.
Confidential and Proprietary Information; Work Product; Warranty; Non- Competition; Non-Solicitation; Non-Disparagement, Etc. 
 a.
Confidentiality. The Executive acknowledges and agrees that there are certain trade secrets and confidential and proprietary information (collectively, “Confidential Information”) which have been developed by the Parent
Company and which are used by the Parent Company in its business. Confidential Information shall include, without limitation: (i) customer lists and supplier lists; (ii) the details of the Parent Company’s relationships with its
customers, including, without limitation, the financial relationship with a customer, knowledge of the internal “politics”/workings of a customer organization, a customer’s technical needs and job specifications, knowledge of a
customer’s strategic plans and the identities of contact persons within a customer’s organization; (iii) the Parent Company’s marketing and development plans, business plans; and (iv) other information proprietary to the
Parent Company’s business. The Executive shall not, at any time during or after his employment hereunder, use or disclose such Confidential Information, except to authorized representatives of the Parent Company or the customer or as required
in the performance of his duties and responsibilities hereunder. The Executive shall return all customer and/or Parent Company property, such as computers, software and cell phones, and documents (and any copies including, without limitation, in
machine or human-readable form), to the Parent Company when his employment terminates. The Executive shall not be required to keep confidential any Confidential Information which (x) is or becomes publicly available through no fault of the
Executive, (y) is already in his possession (unless obtained from the Parent Company or one of its customers) or (z) is required to be disclosed by applicable law or regulation, or pursuant to the valid order of a court of competent
jurisdiction or an authorized government agency, provided that the Executive shall provide the Parent Company and/or Corporation written notice of any such order prior to such disclosure to the extent practicable under the circumstances. Further,
the Executive shall be free to use and employ his general skills, know-how and expertise, and to use, disclose and employ any generalized ideas, concepts, know-how, methods, techniques or skills, including, without limitation, those gained or
learned during the course of the performance of his duties and responsibilities hereunder, so long as he applies such information without disclosure or use of any Confidential Information. 

b. Work Product. The Executive agrees that all copyrights, patents, trade secrets or other intellectual property rights associated with
any ideas, concepts, techniques, inventions, processes, or works of authorship developed or created by him during his employment by the Parent Company and for a period of 6 months thereafter, that (i) relate, whether directly or indirectly, to
the Parent Company’s actual or anticipated business, research or development or (ii) are suggested by or as a result of any work performed by the Executive on the Parent Company’s behalf, shall, to the extent possible, be considered
works made for hire within the meaning of the Copyright Act (17 U.S.C. Section 101 et seq.) (the “Work Product”). All Work Product shall be and remain the property of the Parent Company. To the extent that any such Work
Product may not, under applicable law, be considered works made for hire, the Executive hereby grants, transfers, assigns, conveys and relinquishes, and agrees to grant, 

  
 7 

 
transfer, assign, convey and relinquish from time to time, on an exclusive basis, all of his right, title and interest in and to the Work Product to the Parent Company in perpetuity or for the
longest period otherwise permitted by law. Consistent with his recognition of the Parent Company’s absolute ownership of all Work Product, the Executive agrees that he shall (i) not use any Work Product for the benefit of any party other
than the Parent Company and (ii) at the Parent Company’s sole expense, perform such acts and execute such documents and instruments as the Parent Company may now or hereafter deem reasonably necessary or desirable to evidence the transfer
of absolute ownership of all Work Product to the Parent Company; provided, however, if following 10 days’ written notice from the Parent Company, the Executive refuses, or is unable, due to disability, incapacity, or death, to
execute such documents relating to the Work Product, he hereby appoints any of the Parent Company’s officers as his attorney-in-fact to execute such documents on his behalf. This agency is coupled with an interest and is irrevocable without the
Parent Company’s prior written consent. 
 c. Warranty. The Executive represents and warrants to the Parent Company that
(i) there are no claims that would adversely affect his ability to assign all right, title and interest in and to the Work Product to the Parent Company; (ii) the Work Product does not violate any patent, copyright or other proprietary
right of any third party; (iii) the Executive has the legal right to grant the Parent Company the assignment of his interest in the Work Product as set forth in this Agreement; and (iv) he has not brought and will not bring to his
employment hereunder, or use in connection with such employment, any trade secret, confidential or proprietary information, or computer software, except for software that he has a right to use for the purpose for which it shall be used, in his
employment hereunder. 
 d. Non-Competition; Non Solicitation. The Executive agrees that during his employment by the Corporation and
for 18 months thereafter, regardless of the circumstances which result in his termination, he shall not within the continental United States or Canada (i) engage or attempt to engage, directly or indirectly, whether as an employee, officer,
director, consultant or otherwise, in any business activity which is the same as, substantially similar to or directly competitive with the Corporation or any of its subsidiaries or controlled affiliates; (ii) solicit or attempt to solicit,
directly or indirectly, whether as an employee, officer, director, consultant or otherwise, any person or entity which is then a customer of the Parent Company or has been a customer or solicited by the Parent Company in the preceding 18-month
period, to purchase products or services directly competitive with those sold or provided by the Parent Company from any entity other than the Parent Company; (iii) solicit for employment, engage and/or hire, whether directly or indirectly, any
individual who is then employed by the Parent Company or engaged by the Parent Company as an independent subcontractor or consultant; and/or (iv) encourage or induce, whether directly or indirectly, any individual who is then employed by the
Parent Company or engaged by the Parent Company as an independent contractor or consultant to end his/her business relationship with the Parent Company; provided, however, nothing in this paragraph 7.d. shall prevent the Executive from
owning, solely as an investment, up to 5% of the securities of any publicly-traded company. 
 e. Non-Disparagement. During the
Executive’s employment and at any time thereafter, the Executive agrees not to disparage, either orally or in writing, in any material respect the Parent Company or any of its current or former employees, officers or directors, and will not
authorize others to do so on Executive’s behalf. Notwithstanding the foregoing, nothing 

  
 8 

 
in this paragraph 7.e. shall preclude the Executive from (i) enforcing his rights under this Agreement or responding truthfully to legal process or governmental inquiry, (ii) in the
course of and consistent with his duties for the Parent Company, evaluating or discussing the performance or conduct of other officers and/or employees, including in connection with performance evaluations or (iii) from providing truthful
testimony or information in any proceeding or in response to any request from any governmental agency or any judicial, arbitral or self-regulatory forum or as otherwise required by law, subject to the Executive providing the Parent Company with as
much prior written notice as is practicable under the circumstances. 
 f. Cooperation. The Executive agrees, without receiving
additional compensation and upon reasonable notice, to cooperate fully with the Parent Company and its legal counsel on any matters relating to the Executive’s employment with the Parent Company in which the Parent Company reasonably determines
that the Executive’s cooperation is necessary or appropriate. The Parent Company shall reimburse the Executive for reasonable and pre-approved travel and other similar out-of-pocket expenses incurred as a result of any such cooperation. 

g. Injunctive Relief; Remedy. The Executive acknowledges that a breach or threatened breach of any of the terms set forth in this
paragraph 7 may result in an irreparable and continuing harm to the Parent Company for which there may be no adequate remedy at law. The Parent Company shall, without posting a bond, be entitled to seek injunctive and other equitable relief, in
addition to any other remedies available to the Parent Company. 
 h. Essential and Independent Agreements. It is understood by the
parties hereto that the Executive’s obligations and the restrictions and remedies set forth in this paragraph 7 are essential elements of this Agreement and that but for his agreement to comply with and/or agree to such obligations,
restrictions and remedies, the Parent Company would not have entered into this Agreement or employed (or continued to employ) him. The Executive’s obligations and the restrictions and remedies set forth in this paragraph 7 are independent
agreements and the existence of any claim or claims by him against the Parent Company under this Agreement or otherwise will not excuse his breach of any of his obligations or affect the restrictions and remedies set forth under this paragraph 7.

 i. Survival of Terms; Representations. The Executive’s obligations under this paragraph 7 hereof shall remain in full force
and effect notwithstanding the termination of his employment. The Executive acknowledges that he is sophisticated in business, and that the restrictions and remedies set forth in this paragraph 7 do not create an undue hardship on him and will not
prevent him from earning a livelihood. The Executive further acknowledges that he has had a sufficient period of time within which to review this Agreement, including, without limitation, this paragraph 7, with an attorney of his choice and he has
done so to the extent he desired. The Executive and the Parent Company agree that the restrictions and remedies contained in this paragraph 7 are reasonable and necessary to protect the Parent Company’s legitimate business interests regardless
of the reason for or circumstances giving rise to such termination and that he and the Parent Company intend that such restrictions and remedies shall be enforceable to the fullest extent permissible by law. The Executive agrees that given the scope
of the Parent Company’s business and the sophistication of the information highway, any further geographic limitation on such remedies and restrictions would deny the Parent Company the 

  
 9 

 
protection to which it is entitled hereunder. If it shall be found by a court of competent jurisdiction that any such restriction or remedy is unenforceable but would be enforceable if some part
thereof were deleted or modified, then such restriction or remedy shall apply with such modification as shall be necessary to make it enforceable to the fullest extent permissible under law. 

j. “Parent Company”. For purposes of the provisions of this paragraph 7, the term “Parent Company” shall be
deemed to include the Parent Company and any of its subsidiaries and/or controlled affiliates (including the Corporation), as well as any successor to all or any material portion of the business and/or assets of the Parent Company or any of its
subsidiaries (including the Corporation). 
 8. Successors. This Agreement shall inure to the benefit of and be binding upon the
parties, their legal representatives and successors and assigns. However, the Executive’s performance hereunder is personal to the Executive and shall not be assignable by the Executive. The Corporation and/or the Parent Company, as applicable,
may assign this Agreement and its rights and obligations to any affiliate or to any successor to all or substantially all of the business and/or assets of the Corporation or the Parent Company, whether directly or indirectly, by purchase, merger,
consolidation, acquisition of stock, or otherwise. 
 9. Miscellaneous. 

a. Compliance with Section 409A. 

(i) It is the intention of the parties that all payments and benefits under this Agreement (and any amendment hereto) shall be made and
provided in a manner that is either exempt from or intended to avoid taxation under Section 409A of the Internal Revenue Code and the rules, regulations and notices thereunder (“Code Section 409A”), to the extent
applicable. Any ambiguity in this Agreement (or any amendment hereto) shall be interpreted to comply with the above. The Executive acknowledges that neither the Corporation nor the Parent Company has made any representations as to the treatment of
the compensation and benefits provided hereunder and the Executive has been advised to obtain his own tax advice. Each amount or benefit payable pursuant to this Agreement (and any amendment hereto) shall be deemed a separate payment for purposes of
Code Section 409A. For all purposes under this Agreement, any iteration of the word “termination” (e.g., “terminated”) with respect to the Executive’s employment, shall mean a separation from service within the meaning
of Code Section 409A. Without limiting the generality of the foregoing, for purposes of this Agreement (including paragraph 6 hereof), the Executive shall be considered to have a termination of employment only if such termination is a
“separation from service” within the meaning of Code Section 409A. 
 (ii) To the extent that the reimbursement of any
expenses or the provision of any in-kind benefits pursuant to this Agreement is subject to Code Section 409A, (A) the amount of such expenses eligible for reimbursement, or in-kind benefits to be provided hereunder during any one calendar
year shall not affect the amount of such expenses eligible for reimbursement or in-kind benefits to be provided hereunder in any other calendar year; provided, however, that the foregoing shall not apply to any limit on the amount of
any expenses incurred 

  
 10 

 
by the Executive that may be reimbursed or paid under the terms of the Corporation’s medical plan, if such limit is imposed on all similarly situated participants in such plan; (B) all
such expenses eligible for reimbursement hereunder shall be paid to the Executive no later than December 31st of the calendar year following the calendar year in which such expenses were incurred or such earlier date as provided under the
Corporation’s policies; and (C) the Executive’s right to receive any such reimbursements or in-kind benefits shall not be subject to liquidation or exchange for any other benefit. 

(iii) Notwithstanding anything else in this Agreement to the contrary, if any payments or benefits under this Agreement, including the
severance payment payable under paragraph 6.g. above, constitute “nonqualified deferred compensation” subject to Code Section 409A at the date of employment termination, then such payment, to the extent required under Code
Section 409A, shall be made (or begin to be made) six months and one day after the Executive’s “separation from service” as defined in Code Section 409A(a)(2)(A)(i) (or if earlier the date of the Executive’s death), if
the Executive is a “specified employee” as defined in Code Section 409A(a)(2)(B)(i) and as reasonably determined in good faith by the Corporation. In the event that any payment is subject to the foregoing delay, then the Corporation
shall (provided it shall not result in the imposition of additional taxes by reason of Section 409A(b)(2)), at its sole expense, (A) contribute the amount of such payments to an irrevocable grantor trust in the form prescribed by Revenue
Procedure 92-64 (the “Trust”) within 60 days after the Executive’s termination of employment, and (B) direct the trustee of the Trust to pay such amount, together with the earnings of the Trust, less applicable withholding
and payroll deductions, to the Executive on the first day following the expiration of such delay or, if earlier, the Executive’s death (subject only to the limitations with respect to the Corporation’s insolvency, if any, as prescribed
under the Trust and required to satisfy Revenue Procedure 92-64). 
 b. Clawback. Notwithstanding any other provision of this
Agreement to the contrary, any incentive compensation (whether cash or equity) received by the Executive which is subject to recovery under any law, government regulation, order or stock exchange listing requirement, will be subject to such
deductions and clawback (recovery) as may be required to be made pursuant to law, government regulation, order, stock exchange listing requirement (or any policy of the Parent Company and/or the Corporation adopted pursuant to any such law,
government regulation, order or stock exchange listing requirement) (any “Policy”). The Executive agrees and consents to the Parent Company’s (or if applicable, the Corporation’s) application, implementation and
enforcement of (i) any Policy and (ii) any provision of applicable law relating to cancellation, rescission, payback or recoupment of incentive compensation, and expressly agrees that the Parent Company and/or the Corporation may take such
actions as are necessary to effectuate any Policy, any similar policy (as applicable to the Executive) or applicable law without further consent or action being required by the Executive. To the extent that the terms of this Agreement and any Policy
conflict, then the terms of such Policy shall prevail. 
 c. Waiver; Amendment. The failure of a party to enforce any term,
provision, or condition of this Agreement at any time or times shall not be deemed a waiver of that term, provision, or condition for the future, nor shall any specific waiver of a term, provision, or condition at one time be deemed a waiver of such
term, provision, or condition for any future time or times. This Agreement may be amended or modified only by a writing signed by both parties hereto. 

  
 11 

 d. Governing Law; Jurisdiction. This Agreement shall be governed and construed in
accordance with the laws of the Commonwealth of Virginia without giving effect to principles of conflicts of law. The parties hereby irrevocably consent to the jurisdiction of the federal and state courts located in the Eastern District of Virginia
or Fairfax County, Virginia, and by the execution and delivery of this Agreement, each of the parties hereto accepts for itself the exclusive jurisdiction of the aforesaid courts and irrevocably consents to the jurisdiction of such courts (and the
appropriate appellate courts) in any proceedings, and waives any objection to venue laid therein. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT HE OR IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT. 
 e. Tax Withholding. The payments and benefits under this
Agreement may be compensation and as such may be included in either the Executive’s W-2 earnings statements or 1099 statements. The Corporation and/or Parent Company, as applicable, may withhold from any amounts payable under this Agreement
such federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
 f. Paragraph
Captions. Paragraph and other captions contained in this Agreement are for reference purposes only and are in no way intended to describe, interpret, define or limit the scope, extent or intent of this Agreement or any provision hereof. 

g. Severability. Each provision of this Agreement is intended to be severable. If any term or provision hereof is illegal or invalid
for any reason whatsoever, such illegality or invalidity shall not affect the validity of the remainder of this Agreement. 
 h.
Integrated Agreement. This Agreement constitutes the entire understanding and agreement between the parties hereto with respect to the subject matter hereof, and supersedes all prior agreements, understandings, memoranda, term sheets,
conversations and negotiations. There are no agreements, understandings, restrictions, representations or warranties between the parties other than those set forth herein or herein provided for. 

i. Interpretation; Counterparts. No provision of this Agreement is to be interpreted for or against any party because that party
drafted such provision. For purposes of this Agreement: “herein,” “hereby,” “hereinafter,” “herewith,” “hereafter” and “hereinafter” refer to this Agreement in its entirety, and not to any
particular subsection or paragraph. This Agreement may be executed in any number of counterparts, including by facsimile or PDF, each of which shall be deemed an original, and all of which shall constitute one and the same instrument. 

j. Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered
by hand delivery, by facsimile (with confirmation of transmission), by e-mail, by overnight courier, or by registered or certified mail, return receipt requested, postage prepaid, in each case addressed as follows: 

  
 12 

 If to the Executive, at the address set forth above; 

If to the Corporation and/or the Parent Company: 

i4C Innovations Inc. 

Intersections Inc. 

3901 Stonecroft Boulevard 

Chantilly, Virginia 20151 

Attention: Chief Legal Officer 

Facsimile: 703-488-1757 

with copies (which shall not constitute notice) to: 

Stroock & Stroock & Lavan LLP 

180 Maiden Lane 

New York, New York 10038-4982 

Attention: Todd E. Lenson 

Facsimile: 212-806-6006 
 or to
such other address as either party shall have furnished to the other in writing in accordance herewith. Notices and communications shall be effective when actually received by addressee. 

k. No Limitations. The Executive represents his employment by the Corporation hereunder does not conflict with, or breach any
confidentiality, non-competition or other agreement to which he is a party or to which he may be subject. 
 l. Guarantee; Parent
Company’s Obligations. The Parent Company hereby irrevocably and unconditionally guarantees the due and punctual payment and performance of all obligations of the Corporation under this Agreement; provided, however, that the
Parent Company’s guarantee obligation hereunder shall terminate and cease to have any force or effect immediately upon (x) the Corporation ceasing to be a direct or indirect majority owned subsidiary or controlled affiliate of the Parent
Company or (y) the sale of all or substantially all of the Corporation’s assets. 
 [Remainder of Page Intentionally Left Blank]

  
 13 

 IN WITNESS WHEREOF, each of the parties hereto has executed this Agreement as of the date
first above written. 
  

							
	EXECUTIVE				i4C INNOVATIONS INC.
				
	 /s/ Jeff Noce
				By:		 /s/ Michael R. Stanfield

	Jeff Noce				Name:		Michael R. Stanfield
					Position:		Chairman of the Board
			
					 INTERSECTIONS INC. (solely for purposes

of paragraphs 4.g., 7, 9.b., 9.1.)

				
					By:		 /s/ Michael R. Stanfield

					Name:		Michael R. Stanfield
					Position:		Chief Executive Officer

  
 14

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