Document:

Form of Incentive Stock Option Agreement

 Exhibit 10.16 
 FORM OF INCENTIVE STOCK OPTION AGREEMENT 
 TOOLROCK HOLDING, INC.

 AGREEMENT made as of the              day of
                    , between Toolrock Holding, Inc. (the “Company”), a Delaware corporation, and
            , an employee of the Company or its subsidiaries (the “Employee”). 
 WHEREAS, the Company desires to grant to the Employee an Option to purchase shares of its Non-Voting Common Stock, $0.01 par value per share (the “Shares”), under and for the purposes set forth
in the Company’s 2006 Employee, Director and Consultant Stock Plan (the “Plan”); 
 WHEREAS, the Company and the
Employee understand and agree that any terms used and not defined herein have the same meanings as in the Plan; and 
 WHEREAS,
the Company and the Employee each intend that the Option granted herein qualify as an ISO. 
 NOW, THEREFORE, in consideration
of the mutual covenants hereinafter set forth and for other good and valuable consideration, the parties hereto agree as follows: 
  

	 	1.	GRANT OF OPTION. 

 The
Company hereby grants to the Employee the right and option to purchase all or any part of an aggregate of             
(            ) Shares, on the terms and conditions and subject to all the limitations set forth herein, under United States securities and tax laws, and in the Plan, which is
incorporated herein by reference. The Employee acknowledges receipt of a copy of the Plan. 
  

	 	2.	PURCHASE PRICE. 

 The
purchase price of the Shares covered by the Option shall be $             per Share, subject to adjustment, as provided in the Plan, in the event of a stock split, reverse stock
split or other events affecting the holders of Shares after the date hereof (the “Purchase Price”). Payment shall be made in accordance with Paragraph 8 of the Plan. 

 

	 	3.	EXERCISABILITY OF OPTION. 

Subject to the terms and conditions set forth in this Agreement and the Plan, the Option granted hereby shall become exercisable as
follows: 
  

			
	 On
                                
	  	up to 25% of Shares
		
	 On
                                
	  	up to an additional 25% of Shares

			
	 On
                                
	  	up to an additional 25% of Shares
		
	 On
                                
	  	up to an additional 25% of Shares

 The
foregoing rights are cumulative and are subject to the other terms and conditions of this Agreement and the Plan. 
  

	 	4.	TERM OF OPTION. 

 The
Option shall terminate ten years from the date of this Agreement or, if the Employee owns as of the date hereof more than 10% of the total combined voting power of all classes of capital stock of the Company or an Affiliate, five years from the date
of this Agreement, but shall be subject to earlier termination as provided herein or in the Plan. 
 If the Employee ceases to
be an employee of the Company or of an Affiliate (for any reason other than the death or Disability of the Employee or termination of the Employee’s employment for “cause” (as defined in the Plan)), the Option may be exercised, if it
has not previously terminated, within three months after the date the Employee ceases to be an employee of the Company or an Affiliate, or within the originally prescribed term of the Option, whichever is earlier, but may not be exercised
thereafter. In such event, the Option shall be exercisable only to the extent that the Option has become exercisable and is in effect at the date of such cessation of employment. 

Notwithstanding the foregoing, in the event of the Employee’s Disability or death within three months after the termination of
employment, the Employee or the Employee’s Survivors may exercise the Option within one year after the date of the Employee’s termination of employment, but in no event after the date of expiration of the term of the Option. 

In the event the Employee’s employment is terminated by the Employee’s employer for “cause” (as defined in the Plan),
the Employee’s right to exercise any unexercised portion of this Option shall cease immediately as of the time the Employee is notified his or her employment is terminated for “cause,” and this Option shall thereupon terminate.
Notwithstanding anything herein to the contrary, if subsequent to the Employee’s termination as an employee, but prior to the exercise of the Option, the Board of Directors of the Company determines that, either prior or subsequent to the
Employee’s termination, the Employee engaged in conduct which would constitute “cause,” then the Employee shall immediately cease to have any right to exercise the Option and this Option shall thereupon terminate. 

In the event of the Disability of the Employee, as determined in accordance with the Plan, the Option shall be exercisable within one
year after the Employee’s termination of employment or, if earlier, within the term originally prescribed by the Option. In such event, the Option shall be exercisable: 

 

	 	(a)	to the extent that the Option has become exercisable but has not been exercised as of the date of Disability; and 

  
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	 	(b)	in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of Disability of any additional vesting rights that
would have accrued on the next vesting date had the Employee not become Disabled. The proration shall be based upon the number of days accrued in the current vesting period prior to the date of Disability. 

In the event of the death of the Employee while an employee of the Company or of an Affiliate, the Option shall be exercisable by the
Employee’s Survivors within one year after the date of death of the Employee or, if earlier, within the originally prescribed term of the Option. In such event, the Option shall be exercisable: 

 

	 	(x)	to the extent that the Option has become exercisable but has not been exercised as of the date of death; and 

 

	 	(y)	in the event rights to exercise the Option accrue periodically, to the extent of a pro rata portion through the date of death of any additional vesting rights that
would have accrued on the next vesting date had the Employee not died. The proration shall be based upon the number of days accrued in the current vesting period prior to the Employee’s date of death. 

 

	 	5.	METHOD OF EXERCISING OPTION. 

 Subject to the terms and conditions of this Agreement, the Option may be exercised by written notice to the Company or its designee, in substantially the form of Exhibit A attached hereto.
Such notice shall state the number of Shares with respect to which the Option is being exercised and shall be signed by the person exercising the Option. Payment of the purchase price for such Shares shall be made in accordance with Paragraph 8 of
the Plan. The Company shall deliver such Shares as soon as practicable after the notice shall be received, provided, however, that the Company may delay issuance of such Shares until completion of any action or obtaining of any consent, which the
Company deems necessary under any applicable law (including, without limitation, state securities or “blue sky” laws). The Shares as to which the Option shall have been so exercised shall be registered in the Company’s share register
in the name of the person so exercising the Option (or, if the Option shall be exercised by the Employee and if the Employee shall so request in the notice exercising the Option, shall be registered in the name of the Employee and another person
jointly, with right of survivorship) and shall be delivered as provided above to or upon the written order of the person exercising the Option. In the event the Option shall be exercised, pursuant to Section 4 hereof, by any person other than
the Employee, such notice shall be accompanied by appropriate proof of the right of such person to exercise the Option. All Shares that shall be purchased upon the exercise of the Option as provided herein shall be fully paid and nonassessable.

  

	 	6.	PARTIAL EXERCISE. 

Exercise of this Option to the extent above stated may be made in part at any time and from time to time within the above limits, except
that no fractional share shall be issued pursuant to this Option. 

  
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	 	7.	NON-ASSIGNABILITY. 

 The
Option shall not be transferable by the Employee otherwise than by will or by the laws of descent and distribution. The Option shall be exercisable, during the Employee’s lifetime, only by the Employee (or, in the event of legal incapacity or
incompetency, by the Employee’s guardian or representative) and shall not be assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and shall not be subject to execution, attachment or similar process. Any
attempted transfer, assignment, pledge, hypothecation or other disposition of the Option or of any rights granted hereunder contrary to the provisions of this Section 7, or the levy of any attachment or similar process upon the Option shall be
null and void. 
  

	 	8.	NO RIGHTS AS STOCKHOLDER UNTIL EXERCISE. 

 The Employee shall have no rights as a stockholder with respect to Shares subject to this Agreement until registration of the Shares in the Company’s share register in the name of the Employee.
Except as is expressly provided in the Plan with respect to certain changes in the capitalization of the Company, no adjustment shall be made for dividends or similar rights for which the record date is prior to the date of such registration.

  

	 	9.	ADJUSTMENTS. 

 The Plan
contains provisions covering the treatment of Options in a number of contingencies such as stock splits and mergers. Provisions in the Plan for adjustment with respect to stock subject to Options and the related provisions with respect to successors
to the business of the Company are hereby made applicable hereunder and are incorporated herein by reference. 
  

	 	10.	TAXES. 

 The Employee
acknowledges that any income or other taxes due from him or her with respect to this Option or the Shares issuable pursuant to this Option shall be the Employee’s responsibility. 

In the event of a Disqualifying Disposition (as defined in Section 15 below) or if the Option is converted into a Non-Qualified
Option and such Non-Qualified Option is exercised, the Company may withhold from the Employee’s remuneration, if any, the minimum statutory amount of federal, state and local withholding taxes attributable to such amount that is considered
compensation includable in such person’s gross income. At the Company’s discretion, the amount required to be withheld may be withheld in cash from such remuneration, or in kind from the Shares otherwise deliverable to the Employee on
exercise of the Option. The Employee further agrees that, if the Company does not withhold an amount from the Employee’s remuneration sufficient to satisfy the Company’s income tax withholding obligation, the Employee will reimburse the
Company on demand, in cash, for the amount under-withheld. 

  
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	 	11.	PURCHASE FOR INVESTMENT. 

Unless the offering and sale of the Shares to be issued upon the particular exercise of the Option shall have been effectively registered
under the Securities Act of 1933, as now in force or hereafter amended (the “1933 Act”), the Company shall be under no obligation to issue the Shares covered by such exercise unless and until the following conditions have been fulfilled:

  

	 	(a)	The person(s) who exercise the Option shall warrant to the Company, at the time of such exercise, that such person(s) are acquiring such Shares for their own respective
accounts, for investment, and not with a view to, or for sale in connection with, the distribution of any such Shares, in which event the person(s) acquiring such Shares shall be bound by the provisions of the following legend which shall be
endorsed upon any certificate(s) evidencing the Shares issued pursuant to such exercise: 

 “The shares
represented by this certificate have been taken for investment and they may not be sold or otherwise transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be
effective under the Securities Act of 1933, as amended, or (b) the Company shall have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been
compliance with all applicable state securities laws;” and 
  

	 	(b)	If the Company so requires, the Company shall have received an opinion of its counsel that the Shares may be issued upon such particular exercise in compliance with the
1933 Act without registration thereunder. Without limiting the generality of the foregoing, the Company may delay issuance of the Shares until completion of any action or obtaining of any consent, which the Company deems necessary under any
applicable law (including without limitation state securities or “blue sky” laws). 

  

	 	12.	RESTRICTIONS ON TRANSFER OF SHARES. 

 12.1 The Shares acquired by the Employee pursuant to the exercise of the Option granted hereby shall not be transferred by the Employee except as permitted herein. 

12.2 In the event of the Employee’s termination of employment for any reason, the Company shall have the option, but not the
obligation, to repurchase all or any part of the Shares issued pursuant to this Agreement (including, without limitation, Shares purchased after termination of employment, Disability or death in accordance with Section 4 hereof). In the event
the Company does not, upon the termination of employment of the Employee (as described above), exercise its option pursuant to this Section 12.2, the restrictions set forth in the balance of this Agreement shall not thereby lapse, and the
Employee for himself or herself, his or her heirs, legatees, executors, administrators and other successors in interest, agrees that the Shares 

  
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shall remain subject to such restrictions. The following provisions shall apply to a repurchase under this Section 12.2: 

 

	 	(i)	The per share repurchase price of the Shares to be sold to the Company upon exercise of its option under this Section 12.2 shall be equal to the Fair Market Value
of each such Share determined in accordance with the Plan as of the date of termination of employment provided, however, in the event of a termination by the Company for “cause” (as defined in the Plan), the per share repurchase price of
the Shares to be sold to the Company upon exercise of its option under this Section 12.2 shall be equal to the Purchase Price. 

  

	 	(ii)	The Company’s option to repurchase the Employee’s Shares in the event of termination of employment shall be valid for a period of 12 months commencing with
the date of such termination of employment. 

  

	 	(iii)	In the event the Company shall be entitled to and shall elect to exercise its option to repurchase the Employee’s Shares under this Section 12.2, the Company
shall notify the Employee, or in case of death, his or her Survivor, in writing of its intent to repurchase the Shares. Such written notice may be mailed by the Company up to and including the last day of the time period provided for in
Section 12.2(ii) for exercise of the Company’s option to repurchase. 

  

	 	(iv)	The written notice to the Employee shall specify the address at, and the time and date on, which payment of the repurchase price is to be made (the
“Closing”). The date specified shall not be less than ten days nor more than 60 days from the date of the mailing of the notice, and the Employee or his or her successor in interest with respect to the Shares shall have no further rights
as the owner thereof from and after the date specified in the notice. At the Closing, the repurchase price shall be delivered to the Employee or his or her successor in interest and the Shares being purchased, duly endorsed for transfer, shall, to
the extent that they are not then in the possession of the Company, be delivered to the Company by the Employee or his or her successor in interest. 

 12.3 It shall be a condition precedent to the validity of any sale or other transfer of any Shares by the Employee that the following restrictions be complied with (except as hereinafter otherwise
provided): 
  

	 	(i)	No Shares owned by the Employee may be sold, pledged or otherwise transferred (including by gift or devise) to any person or entity, voluntarily, or by operation of
law, except in accordance with the terms and conditions hereinafter set forth. 

  

	 	(ii)	 Before selling or otherwise transferring all or part of the Shares, the Employee shall give written notice of such intention to the Company, which
notice shall include the name of the proposed transferee, the proposed purchase price per share, the terms of payment of such purchase price and all other matters relating to such sale or transfer and shall be accompanied by a copy of the binding
written 

  
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agreement of the proposed transferee to purchase the Shares of the Employee. Such notice shall constitute a binding offer by the Employee to sell to the Company such number of the Shares then
held by the Employee as are proposed to be sold in the notice at the monetary price per share designated in such notice, payable on the terms offered to the Employee by the proposed transferee (provided, however, that the Company shall not be
required to meet any non-monetary terms of the proposed transfer, including, without limitation, delivery of other securities in exchange for the Shares proposed to be sold). The Company shall give written notice to the Employee as to whether such
offer has been accepted in whole by the Company within 60 days after its receipt of written notice from the Employee. The Company may only accept such offer in whole and may not accept such offer in part. Such acceptance notice shall fix a time,
location and date for the Closing on such purchase (“Closing Date”) which shall not be less than ten nor more than sixty days after the giving of the acceptance notice, provided, however, if any of the Shares to be sold pursuant to this
Section 12.3 have been held by the Employee for less than six months, then the Closing Date may be extended by the Company until no more than ten days after such Shares have been held by the Employee for six months if required under applicable
accounting rules in effect at the time. The place for such Closing shall be at the Company’s principal office. At such Closing, the Employee shall accept payment as set forth herein and shall deliver to the Company in exchange therefor
certificates for the number of Shares stated in the notice accompanied by duly executed instruments of transfer. 

  

	 	(iii)	If the Company shall fail to accept any such offer, the Employee shall be free to sell all, but not less than all, of the Shares set forth in his or her notice to the
designated transferee at the price and terms designated in the Employee’s notice, provided that (i) such sale is consummated within six months after the giving of notice by the Employee to the Company as aforesaid, and (ii) the
transferee first agrees in writing to be bound by the provisions of this Section 12 so that such transferee (and all subsequent transferees) shall thereafter only be permitted to sell or transfer the Shares in accordance with the terms hereof.
After the expiration of such six months, the provisions of this Section 12.3 shall again apply with respect to any proposed voluntary transfer of the Employee’s Shares. 

 

	 	(iv)	The restrictions on transfer contained in this Section 12.3 shall not apply to (a) transfers by the Employee to his or her spouse or children or to a trust
for the benefit of his or her spouse or children, (b) transfers by the Employee to his or her guardian or conservator, and (c) transfers by the Employee, in the event of his or her death, to his or her executor(s) or administrator(s) or to
trustee(s) under his or her will (collectively, “Permitted Transferees”); provided however, that in any such event the Shares so transferred in the hands of each such Permitted Transferee shall remain subject to this Agreement, and each
such Permitted Transferee shall so acknowledge in writing as a condition precedent to the effectiveness of such transfer. 

  
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	 	(v)	The provisions of this Section 12.3 may be waived by the Company. Any such waiver may be unconditional or based upon such conditions as the Company may impose.

 12.4 In the event that the Employee or his or her successor in interest fails to deliver the Shares to be
repurchased by the Company under this Agreement, the Company may elect (a) to establish a segregated account in the amount of the repurchase price, such account to be turned over to the Employee or his or her successor in interest upon delivery
of such Shares, and (b) immediately to take such action as is appropriate to transfer record title of such Shares from the Employee to the Company and to treat the Employee and such Shares in all respects as if delivery of such Shares had been
made as required by this Agreement. The Employee hereby irrevocably grants the Company a power of attorney which shall be coupled with an interest for the purpose of effectuating the preceding sentence. 

12.5 If the Company shall pay a stock dividend or declare a stock split on or with respect to any of its Non-Voting Common Stock, or
otherwise distribute securities of the Company to the holders of its Non-Voting Common Stock, the number of shares of stock or other securities of Company issued with respect to the shares then subject to the restrictions contained in this Agreement
shall be added to the Shares subject to the Company’s rights to repurchase pursuant to this Agreement. If the Company shall distribute to its stockholders shares of stock of another corporation, the shares of stock of such other corporation,
distributed with respect to the Shares then subject to the restrictions contained in this Agreement, shall be added to the Shares subject to the Company’s rights to repurchase pursuant to this Agreement. 

12.6 If the outstanding shares of Non-Voting Common Stock of the Company shall be subdivided into a greater number of shares or combined
into a smaller number of shares, or in the event of a reclassification of the outstanding shares of Non-Voting Common Stock of the Company, or if the Company shall be a party to a merger, consolidation or capital reorganization, there shall be
substituted for the Shares then subject to the restrictions contained in this Agreement such amount and kind of securities as are issued in such subdivision, combination, reclassification, merger, consolidation or capital reorganization in respect
of the Shares subject immediately prior thereto to the Company’s rights to repurchase pursuant to this Agreement. 
 12.7
The Company shall not be required to transfer any Shares on its books which shall have been sold, assigned or otherwise transferred in violation of this Agreement, or to treat as owner of such Shares, or to accord the right to vote as such owner or
to pay dividends to, any person or organization to which any such Shares shall have been so sold, assigned or otherwise transferred, in violation of this Agreement. 
 12.8 The provisions of Sections 12.1, 12.2 and 12.3 shall terminate upon the effective date of the registration of the Shares pursuant to the Securities Exchange Act of 1934. 

12.9 The Employee agrees that in the event the Company proposes to offer for sale to the public any of its equity securities and such
Employee is requested by the Company and any underwriter engaged by the Company in connection with such offering to sign an agreement restricting the sale or other transfer of Shares, then it will promptly sign such agreement and will

  
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not transfer, whether in privately negotiated transactions or to the public in open market transactions or otherwise, any Shares or other securities of the Company held by him or her during such
period as is determined by the Company and the underwriters, not to exceed 180 days following the closing of the offering, plus such additional period of time as may be required to comply with Marketplace Rule 2711 of the National Association of
Securities Dealers, Inc. or similar rules thereto (such period, the “Lock-Up Period”). Such agreement shall be in writing and in form and substance reasonably satisfactory to the Company and such underwriter and pursuant to customary and
prevailing terms and conditions. Notwithstanding whether the Employee has signed such an agreement, the Company may impose stop-transfer instructions with respect to the Shares or other securities of the Company subject to the foregoing restrictions
until the end of the Lock-Up Period. 
 12.10 The Employee acknowledges and agrees that neither the Company, its shareholders
nor its directors and officers, has any duty or obligation to disclose to the Employee any material information regarding the business of the Company or affecting the value of the Shares before, at the time of, or following a termination of the
employment of the Employee by the Company, including, without limitation, any information concerning plans for the Company to make a public offering of its securities or to be acquired by or merged with or into another firm or entity. 

12.11 All certificates representing the Shares to be issued to the Employee pursuant to this Agreement shall have endorsed thereon a
legend substantially as follows: “The shares represented by this certificate are subject to restrictions set forth in an Incentive Stock Option Agreement dated
                     with this Company, a copy of which Agreement is available for inspection at the offices of the Company or will be made
available upon request.” 
  

	 	13.	NO OBLIGATION TO EMPLOY. 

The Company is not by the Plan or this Option obligated to continue the Employee as an employee of the Company or an Affiliate. The
Employee acknowledges: (i) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (ii) that the grant of the Option is a one-time benefit which does not create any contractual or other right
to receive future grants of options, or benefits in lieu of options; (iii) that all determinations with respect to any such future grants, including, but not limited to, the times when options shall be granted, the number of shares subject to
each option, the option price, and the time or times when each option shall be exercisable, will be at the sole discretion of the Company; (iv) that the Employee’s participation in the Plan is voluntary; (v) that the value of the
Option is an extraordinary item of compensation which is outside the scope of the Employee’s employment contract, if any; and (vi) that the Option is not part of normal or expected compensation for purposes of calculating any severance,
resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments. 
  

	 	14.	OPTION IS INTENDED TO BE AN ISO. 

 The parties each intend that the Option be an ISO so that the Employee (or the Employee’s Survivors) may qualify for the favorable tax treatment provided to holders of

  
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Options that meet the standards of Section 422 of the Code. Any provision of this Agreement or the Plan which conflicts with the Code so that this Option would not be deemed an ISO is null
and void and any ambiguities shall be resolved so that the Option qualifies as an ISO. Nonetheless, if the Option is determined not to be an ISO, the Employee understands that neither the Company nor any Affiliate is responsible to compensate him or
her or otherwise make up for the treatment of the Option as a Non-qualified Option and not as an ISO. The Employee should consult with the Employee’s own tax advisors regarding the tax effects of the Option and the requirements necessary to
obtain favorable tax treatment under Section 422 of the Code, including, but not limited to, holding period requirements. 
  

	 	15.	NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION. 

 The Employee agrees to notify the Company in writing immediately after the Employee makes a Disqualifying Disposition of any of the Shares acquired pursuant to the exercise of the Option. A Disqualifying
Disposition is defined in Section 424(c) of the Code and includes any disposition (including any sale) of such Shares before the later of (a) two years after the date the Employee was granted the Option or (b) one year after the date
the Employee acquired Shares by exercising the Option, except as otherwise provided in Section 424(c) of the Code. If the Employee has died before the Shares are sold, these holding period requirements do not apply and no Disqualifying
Disposition can occur thereafter. 
  

	 	16.	NOTICES. 

 Any notices
required or permitted by the terms of this Agreement or the Plan shall be given by recognized courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 

If to the Company: 
  

			
		 	Attn: Chief Financial Officer
		 	Toolrock Holding, Inc.
		 	c/o Latrobe Specialty Steel Company
		 	2626 Ligonier Street
		 	Latrobe, PA 15650

 If to the Employee: 

 

					
		 	 	 	
		 	 	 	
		 	 	 	

 or to such other address or addresses of which notice in the same manner has previously been given. Any such notice
shall be deemed to have been given upon the earlier of receipt, one business day following delivery to a recognized courier service or three business days following mailing by registered or certified mail. 

  
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	 	17.	GOVERNING LAW. 

 This
Agreement shall be construed and enforced in accordance with the law of the State of Delaware, without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, the
parties hereby consent to exclusive jurisdiction in Delaware and agree that such litigation shall be conducted in the courts of Newcastle County, Delaware or the federal courts of the United States for the District of Delaware. 

 

	 	18.	BENEFIT OF AGREEMENT. 

Subject to the provisions of the Plan and the other provisions hereof, this Agreement shall be for the benefit of and shall be binding
upon the heirs, executors, administrators, successors and assigns of the parties hereto. 
  

	 	19.	ENTIRE AGREEMENT. 

 This
Agreement, together with the Plan, embodies the entire agreement and understanding between the parties hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject
matter hereof. No statement, representation, warranty, covenant or agreement not expressly set forth in this Agreement shall affect or be used to interpret, change or restrict, the express terms and provisions of this Agreement, provided, however,
in any event, this Agreement shall be subject to and governed by the Plan. 
  

	 	20.	MODIFICATIONS AND AMENDMENTS. 

 The terms and provisions of this Agreement may be modified or amended as provided in the Plan. 
  

	 	21.	WAIVERS AND CONSENTS. 

Except as provided in the Plan, the terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted,
only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this
Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or consent. 

  
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	 	22.	DATA PRIVACY. 

 By
entering into this Agreement, the Employee: (i) authorizes the Company and each Affiliate, and any agent of the Company or any Affiliate administering the Plan or providing Plan recordkeeping services, to disclose to the Company or any of its
Affiliates such information and data as the Company or any such Affiliate shall request in order to facilitate the grant of options and the administration of the Plan; (ii) waives any data privacy rights he or she may have with respect to such
information; and (iii) authorizes the Company and each Affiliate to store and transmit such information in electronic form. 
  

	 	23.	CONSENT OF SPOUSE. 

 If
the Employee is married as of the date of this Agreement, the Employee’s spouse shall execute a Consent of Spouse in the form of Exhibit B hereto, effective as of the date hereof. Such consent shall not be deemed to confer or convey to
the spouse any rights in the Shares that do not otherwise exist by operation of law or the agreement of the parties. If the Employee marries or remarries subsequent to the date hereof, the Employee shall, not later than 60 days thereafter, obtain
his or her new spouse’s acknowledgement of and consent to the existence and binding effect of Section 12.2 of this Agreement by such spouse’s executing and delivering a Consent of Spouse in the form of Exhibit B. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and the Employee has hereunto set his or her hand, all as of the day and year first above written. 
  

			
	TOOLROCK HOLDING, INC.
		
	By:	 	 
		 	Name
		 	Title
	
	 

  
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 Exhibit A 
 NOTICE OF EXERCISE OF INCENTIVE STOCK OPTION 
 [Form for Unregistered Shares]

  

	To:	Toolrock Holding, Inc. 

 Ladies and Gentlemen:

 I hereby exercise my Incentive Stock Option to purchase ___________ shares (the “Shares”) of the Non-Voting Common
Stock, $0.01 par value, of Toolrock Holding, Inc. (the “Company”), at the exercise price of $             per share, pursuant to and subject to the terms of that certain
Incentive Stock Option Agreement between the undersigned and the Company dated                     . 

I am aware that the Shares have not been registered under the Securities Act of 1933, as amended (the “1933 Act”), or any state
securities laws. I understand that the reliance by the Company on exemptions under the 1933 Act is predicated in part upon the truth and accuracy of the statements by me in this Notice of Exercise. 

I hereby represent and warrant that (1) I have been furnished with all information which I deem necessary to evaluate the merits and
risks of the purchase of the Shares; (2) I have had the opportunity to ask questions concerning the Shares and the Company and all questions posed have been answered to my satisfaction; (3) I have been given the opportunity to obtain any
additional information I deem necessary to verify the accuracy of any information obtained concerning the Shares and the Company; and (4) I have such knowledge and experience in financial and business matters that I am able to evaluate the
merits and risks of purchasing the Shares and to make an informed investment decision relating thereto. 
 I hereby represent
and warrant that I am purchasing the Shares for my own personal account for investment and not with a view to the sale or distribution of all or any part of the Shares. 
 I understand that because the Shares have not been registered under the 1933 Act, I must continue to bear the economic risk of the investment for an indefinite time and the Shares cannot be sold unless
the Shares are subsequently registered under applicable federal and state securities laws or an exemption from such registration requirements is available. 
 I agree that I will in no event sell or distribute or otherwise dispose of all or any part of the Shares unless (1) there is an effective registration statement under the 1933 Act and applicable
state securities laws covering any such transaction involving the Shares or (2) the Company receives an opinion of my legal counsel (concurred in by legal counsel for the Company) stating that such transaction is exempt from registration or the
Company otherwise satisfies itself that such transaction is exempt from registration. 

  
 A-1

 I consent to the placing of a legend on my certificate for the Shares stating that the
Shares have not been registered and setting forth the restriction on transfer contemplated hereby and to the placing of a stop transfer order on the books of the Company and with any transfer agents against the Shares until the Shares may be legally
resold or distributed without restriction. 
 I understand that at the present time Rule 144 of the Securities and Exchange
Commission (the “SEC”) may not be relied on for the resale or distribution of the Shares by me. I understand that the Company has no obligation to me to register the sale of the Shares with the SEC and has not represented to me that it
will register the sale of the Shares. 
 I understand the terms and restrictions on the right to dispose of the Shares set forth
in the 2006 Employee, Director and Consultant Stock Plan and the Incentive Stock Option Agreement, both of which I have carefully reviewed. I consent to the placing of a legend on my certificate for the Shares referring to such restriction and the
placing of stop transfer orders until the Shares may be transferred in accordance with the terms of such restrictions. 
 I have
considered the Federal, state and local income tax implications of the exercise of my Option and the purchase and subsequent sale of the Shares. 
 I am paying the option exercise price for the Shares as follows: 
  

 
 Please issue the
stock certificate for the Shares (check one): 
  ̈ to me; or 

 ̈ to me and
                                , as joint tenants with right of survivorship

 and mail the certificate to me at the following address: 
  

	
	 
	
	 
	
	 

  
 A-2

 My mailing address for shareholder communications, if different from the address listed
above is: 
  

			
		 	 
		
		 	 
		
		 	 

  

	
	Very truly yours,
	
	  
	Employee (signature)
	
	  
	Print Name
	
	  
	Date
	
	  
	Social Security Number

  
 A-3

 Exhibit A 
 NOTICE OF EXERCISE OF INCENTIVE STOCK OPTION 
 [Form For Registered Shares]

  

	TO:	Toolrock Holding, Inc. 

 IMPORTANT NOTICE: This
form of Notice of Exercise may only be used at such time as the Company has filed a Registration Statement with the Securities and Exchange Commission under which the issuance of the Shares for which this exercise is being made is registered and
such Registration Statement remains effective. 
 Ladies and Gentlemen: 

I hereby exercise my Incentive Stock Option to purchase
                 shares (the “Shares”) of the Non-Voting Common Stock, $0.01 par value, of Toolrock Holding, Inc. (the “Company”), at the
exercise price of $             per share, pursuant to and subject to the terms of that certain Incentive Stock Option Agreement between the undersigned and the Company dated.

 I understand the nature of the investment I am making and the financial risks thereof. I am aware that it is my
responsibility to have consulted with competent tax and legal advisors about the relevant national, state and local income tax and securities laws affecting the exercise of the Option and the purchase and subsequent sale of the Shares. 

I am paying the option exercise price for the Shares as follows: 

 
  

Please issue the Shares (check one): 
  ̈ to me; or 
  ̈ to me and ____________________________, as joint tenants with right of survivorship, 
 at the
following address: 
  

	
	 
	
	 
	
	 

  
 A-1

 My mailing address for shareholder communications, if different from the address listed
above, is: 
  

			
		 	 
		
		 	 
		
		 	 

  

	
	Very truly yours,
	
	  
	Employee (signature)
	
	  
	Print Name
	
	  
	Date
	
	  
	Social Security Number

  
 A-2

 Exhibit B 
 CONSENT OF SPOUSE 
 I, ____________________________, spouse of
_____________________________, acknowledge that I have read the Incentive Stock Option Agreement dated as of (the “Agreement”) to which this Consent is attached as Exhibit B and that I know its contents. Capitalized terms used and not
defined herein shall have the meanings assigned to such terms in the Agreement. I am aware that by its provisions the Shares granted to my spouse pursuant to the Agreement are subject to a right of repurchase in favor of Toolrock Holding, Inc. (the
“Company”) and that, accordingly, the Company has the right to repurchase up to all of the Shares of which I may become possessed as a result of a gift from my spouse or a court decree and/or any property settlement in any domestic
litigation. 
 I hereby agree that my interest, if any, in the Shares subject to the Agreement shall be irrevocably bound by the
Agreement and further understand and agree that any community property interest I may have in the Shares shall be similarly bound by the Agreement. 
 I agree to the repurchase right described in Section 12.2 of the Agreement and I hereby consent to the repurchase of the Shares by the Company and the sale of the Shares by my spouse or my
spouse’s legal representative in accordance with the provisions of the Agreement. Further, as part of the consideration for the Agreement, I agree that at my death, if I have not disposed of any interest of mine in the Shares by an outright
bequest of the Shares to my spouse, then the Company shall have the same rights against my legal representative to exercise its rights of repurchase with respect to any interest of mine in the Shares as it would have had pursuant to the Agreement if
I had acquired the Shares pursuant to a court decree in domestic litigation. 
 I AM AWARE THAT THE LEGAL, FINANCIAL AND
RELATED MATTERS CONTAINED IN THE AGREEMENT ARE COMPLEX AND THAT I AM FREE TO SEEK INDEPENDENT PROFESSIONAL GUIDANCE OR COUNSEL WITH RESPECT TO THIS CONSENT. I HAVE EITHER SOUGHT SUCH GUIDANCE OR COUNSEL OR DETERMINED AFTER REVIEWING THE AGREEMENT
CAREFULLY THAT I WILL WAIVE SUCH RIGHT. 
 Dated as of the _______ day of ________________, 20__. 

 

	
	  
	Print name:

  
 B-1Form of Series A Preferred Stock Purchase Agreement

 Exhibit 10.17 
 FORM OF STOCK PURCHASE AGREEMENT 
 This STOCK PURCHASE AGREEMENT (this
“Agreement”), dated as of                     ,
            , is made by and among Toolrock Holding, Inc., a Delaware corporation (the “Company”) having a place of business at One Cranberry Hill, 750 Marrett Road,
Suite 401, Lexington, MA 02421,                 , an individual residing in the
                , (the “Purchaser”), and Toolrock Investment, LLC, a Delaware limited liability company and stockholder of the Company
(the “Parent”). 
 WHEREAS, the Company desires to sell to the Purchaser, and the Purchaser desires to
purchase from the Company, shares of the Company’s common stock, $0.01 par value per share (“Common Stock”), all on the terms and conditions hereinafter set forth. 

NOW, THEREFORE, in consideration of the promises and the mutual covenants contained herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1.
Terms of Purchase. The Company hereby agrees to sell to the Purchaser, and the Purchaser hereby agrees to purchase from the Company, in accordance with the terms of this Agreement,
                 shares of Common Stock (“Purchased Shares”) at a purchase price per share equal to
$                 (the “Purchase Price”). On the date hereof, the Purchaser shall pay the Purchase Price to the Company by wire transfer of
immediately available funds into an account designated in writing by the Company. 
 2. Company’s Repurchase Right;
Restrictions on Transfer. 
 (a) Repurchase Right. In the event that for any reason the Purchaser no longer is an
employee, director or consultant of the Company or an affiliate of the Company, the Company (or its designee) shall have the option, but not the obligation, to purchase from the Purchaser (or the Purchaser’s survivor), and, in the event the
Company exercises such option, the Purchaser (or the Purchaser’s survivor) shall be obligated to sell to the Company (or its designee), at a price per Purchased Share equal to the Repurchase Price (as defined below), all or any part of the
Purchased Shares (the “Repurchase Right”). The Company’s Repurchase Right shall be valid for a period of one hundred eighty (180) days commencing with the date of such termination of employment or service. Notwithstanding
any other provision hereof, in the event the Company is prohibited during such one hundred eighty (180) day period from exercising its Repurchase Right by applicable law, then the time period during which such Repurchase Right may be exercised
shall be extended until thirty (30) days after the Company is first not so prohibited. For purposes of this Agreement, “Repurchase Price” means a price per share equal to the greater of: (i) the Purchase Price (such price subject
to equitable adjustment in the event of any stock split, stock dividend, combination, reorganization, reclassification or other similar event affecting the Common Stock) and (ii) the fair market value of each share of Common Stock as determined
in good faith by the Board of Directors of the Company as of the date the Purchaser ceases to be an employee, director or consultant of the Company or an affiliate of the Company. 

(b) Closing. In the event that the Company exercises the Repurchase Right, the Company shall notify the Purchaser, or, in the case
of the Purchaser’s death, his or her Survivor, 

 
in writing of its intent to repurchase the Purchased Shares. Such notice may be mailed by the Company up to and including the last day of the time period provided for above for exercise of the
Repurchase Right. The notice shall specify the place, time and date for payment of the repurchase price (the “Closing”) and the number of Purchased Shares with respect to which the Company is exercising the Repurchase Right. The
Closing shall be not less than ten (10) days nor more than sixty (60) days from the date of mailing of the notice, and the Purchaser or the Purchaser’s Survivor with respect to the Purchased Shares which the Company elects to
repurchase shall have no further rights as the owner thereof from and after the date specified in the notice. At the Closing, the Repurchase Price shall be delivered to the Purchaser or the Purchaser’s Survivor and the Purchased Shares being
repurchased, duly endorsed for transfer, shall, to the extent that they are not then in the possession of the Company, be delivered to the Company by the Purchaser or the Purchaser’s Survivor. 

(c) Escrow. The certificates representing all Purchased Shares acquired by the Purchaser hereunder shall be delivered to the
Company and the Company shall hold such Purchased Shares in escrow as provided in this Subsection 2.1(c). In the event of a repurchase by the Company of Purchased Shares subject to the Repurchase Right or a sale of Purchased Shares pursuant to
Section 3, the Company shall release from escrow and cancel a certificate for the number of Purchased Shares so repurchased. Any securities distributed in respect of the Purchased Shares held in escrow, including, without limitation, shares
issued as a result of stock splits, stock dividends or other recapitalizations, shall also be held in escrow in the same manner as the Purchased Shares. 
 (d) Prohibition on Transfer. The Purchaser recognizes and agrees that all Purchased Shares are subject to the Repurchase Right and may not be sold, transferred, assigned, hypothecated, pledged,
encumbered or otherwise disposed of, whether voluntarily or by operation of law, other than to the Company (or its designee). However, the Purchaser may transfer the Purchased Shares for no consideration to or for the benefit of the Purchaser’s
Immediate Family (as defined below) (including, without limitation, to a trust for the benefit of the Purchaser’s Immediate Family or to a partnership or limited liability company for one or more members of the Purchaser’s Immediate
Family) and the transferee shall remain subject to all the terms and conditions applicable to this Agreement prior to such transfer and each such transferee shall so acknowledge in writing as a condition precedent to the effectiveness of such
transfer. The term “Immediate Family” shall mean the Purchaser’s spouse, former spouse, parents, children, stepchildren, adoptive relationships, sisters, brothers, nieces and nephews and grandchildren (and, for this purpose, shall
also include the Purchaser). The Company shall not be required to transfer any Purchased Shares on its books which shall have been sold, assigned or otherwise transferred in violation of this Subsection 2.1(d), or to treat as the owner of such
Purchased Shares, or to accord the right to vote as such owner or to pay dividends to, any person or organization to which any such Purchased Shares shall have been so sold, assigned or otherwise transferred, in violation of this Subsection 2.1(d).

 (e) Failure to Deliver Purchased Shares to be Repurchased. In the event that the Purchased Shares to be repurchased by
the Company under this Agreement are not in the Company’s possession pursuant to Subsection 2.1(c) above or otherwise and the Purchaser or the Purchaser’s Survivor fails to deliver such Purchased Shares to the Company (or its designee),
the Company may elect (i) to establish a segregated account in the amount of the Repurchase Price, 

  
 2 

 
such account to be turned over to the Purchaser or the Purchaser’s Survivor upon delivery of such Purchased Shares, and (ii) immediately to take such action as is appropriate to
transfer record title of such Purchased Shares from the Purchaser to the Company (or its designee) and to treat the Purchaser and such Purchased Shares in all respects as if delivery of such Purchased Shares had been made as required by this
Agreement The Purchaser hereby irrevocably grants the Company a power of attorney which shall be coupled with an interest for the purpose of effectuating the preceding sentence. 

(f) Termination of Restrictions. The provisions of Subsections (a) through (e) of this Section 2 shall terminate
upon the consummation of a public offering of any of the Company’s securities pursuant to a registration statement filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended (the “Securities
Act”), in which offering the aggregate gross proceeds to the Company exceed $30,000,000 and in which the price per share of such securities equals or exceeds $3.00 (such price subject to equitable adjustment in the event of any stock split,
stock dividend, combination, reorganization, reclassification or other similar event affecting the Common Stock) (a “Qualified Public Offering”). 
 (g) Lock-up. If, in connection with a registration statement filed by the Company pursuant to the Securities Act, the Company or its underwriter so requests, the Purchaser will agree not to sell
any of his or her Purchased Shares for a period not to exceed one hundred eighty (180) days following the effectiveness of such registration statement; provided, that all stockholders of the Company then holding at least 1% of the
outstanding Common Stock (on an as-converted basis) and substantially all officers and directors of the Company enter into similar agreements. 
 3. Take-Along and Bring-Along. 
 (a) Take-Along Rights. In the event
that the Parent or the members of the Parent (the “Members”) receive a bona fide offer from a third party or parties other than any Affiliate of the Parent (the “Buyer”) to purchase all or any part of the shares of
Company Common Stock owned by the Parent or membership interests of Parent owned by the Members (the “Take-Along Securities”), for a specified price payable in cash or otherwise and on specified terms and conditions (the
“Take-Along Offer”), and the Parent or the Members, as applicable, proposes to sell or otherwise transfer the Take-Along Securities to the Buyer pursuant to the Take-Along Offer, the Purchaser shall have the right to sell to the
Buyer, at the same price per share of Common Stock proposed to be sold (directly or beneficially, as the case may be) but considering the different economic rights of the membership interests in the Parent in relation to each other, and otherwise on
the same terms and conditions as stated in the Take Along Offer, such number of Purchased Shares as is equal to the Take-Along Securities multiplied by the fully-diluted percentage beneficial ownership of the Company represented by the Purchased,
Shares then owned by the Purchaser. Parent shall take such steps as are reasonably necessary to give effect to the provisions of this Section 3(a) as applicable to the Members. 

(b) Notices of Offer and Intent to Participate. The Parent shall provide notice to the Purchaser stating the name of the Buyer,
the terms of the Take-Along Offer and the period of time available to the Purchaser for notifying the Parent of its intent to participate in the sale (the 

  
 3 

 
“Notice Period”). The Parent shall, if reasonably possible, provide the Purchaser with a Notice Period of up to thirty (30) days, but in no event will the Parent provide the
Purchaser with a Notice Period of less than ten (10) days. If the Purchaser wishes to participate in any sale pursuant to Section 3(a), the Purchaser shall notify the Parent in writing of such intention as soon as practicable after receipt
of the notice from the Parent and in any event within the Notice Period. If the Parent does not receive such notice from the Purchaser within the Notice Period, the Parent shall be free to consummate the proposed transaction without any obligation
to include the Purchaser’s Purchased Shares in such transaction. 
 (c) Sale of Take-Along Securities. The
Purchaser, if participating, shall sell to the Buyer all, or at the option of the Buyer, any part of the Purchased Shares proposed to be sold by it at not less than the price and upon other terms and conditions, if any, not more favorable to the
Buyer than those stated in the Take-Along Offer; provided, however, that any purchase of less than all of the Common Stock of the Company by the Buyer shall be made from the Purchaser pro rata based upon the relative
fully-diluted beneficial ownership of the Company represented by the Purchaser’s Purchased Shares. 
 (d) Bring-Along
Obligation. In the event that (x) any person or group (as such term is defined in Section 13(d) of the Securities Exchange Act of 1934, as amended) desires to acquire all or substantially all of the capital stock of the Company or
equity interests in the Parent, whether directly or indirectly, by way of sale, lease or other transfer (in one transaction or a series of related transactions) or by way of merger, consolidation, combination, exchange or any similar transaction,
(y) the Parent, or its successor-in-interest, or the Members, as applicable, desire to so transfer such capital stock to such person or group and (z) the Management Committee of the Parent approves such transaction and recommends it to the
stockholders of the Company, the Purchaser agrees to sell, lease or transfer to, or exchange with, such third party on the terms offered by such third party, a percentage of the Purchased Shares owned by it equal to the percentage of the outstanding
fully-diluted beneficial ownership of the Company being sold. 
 (e) Agreement to Vote. The Purchaser hereby agrees on
behalf of itself and any permitted transferee or assignee of any Purchased Shares, to hold all of such Purchased Shares registered in its name subject to, and to vote such Purchased Shares as instructed by the Parent at any regular or special
meeting (or by written consent in lieu thereof) of stockholders of the Company, for any purpose whatsoever, ordinary or extraordinary, including, without limitation, (i) amending or restating the Articles of Incorporation or By-laws of the
Company; (ii) approving any merger, consolidation, recapitalization, reorganization of the Company in which all holders of Common Stock are treated in the same manner or any sale, lease or exchange of all or any part of the assets of the
Company, and taking any and all action in connection therewith that may be properly taken by the stockholders of the Company; (iii) electing the directors of the Company and increasing or decreasing the number of directors constituting the
entire board of directors of the Company; and (iv) approving any stock option or similar plan presented to the stockholders of the Company for approval. 
 (f) Grant of Proxy. The Purchaser hereby grants to the Parent a proxy coupled with an interest in all Purchased Shares owned from time to time by the Purchaser, which proxy shall be irrevocable
until it terminates in accordance with the terms hereof, to vote all such Purchased Shares in the manner provided in Section 3(e). 

  
 4 

 (g) Termination of Rights. The provisions of (a) through (f) of this
Section 3 shall terminate upon the consummation of a Qualified Public Offering. 
 4. Legend. In addition to any
legend required pursuant to applicable law, all certificates representing the Purchased Shares to be issued to the Purchaser pursuant to this Agreement shall have endorsed thereon a legend substantially as follows: 

“The shares represented by this certificate are subject to restrictions set forth in a Stock Purchase Agreement dated as of
                             with this Company, a copy of which Agreement is available for inspection
at the offices of the Company or will be made available upon request.” 
 5. Purchase for Investment; Securities Law
Compliance. If the offering and sale of the Purchased Shares have not been effectively registered under the Securities Act, (a) the Purchaser hereby represents and warrants that he or she is acquiring the Purchased Shares for his or her own
account, for investment, and not with a view to, or for sale in connection with, the distribution of any such Purchased Shares, and (b) the Purchaser specifically acknowledges and agrees that any sales of Purchased Shares shall be made in
accordance with the requirements of the Securities Act, in a transaction as to which the Company shall have received an opinion of counsel satisfactory to it confirming such compliance. The Purchaser shall be bound by the provisions of the following
legend which shall be endorsed upon the certificate(s) evidencing the Purchased Shares issued: 
 “The shares represented by
this certificate have been taken for investment and they may not be sold or otherwise transferred by any person, including a pledgee, unless (1) either (a) a Registration Statement with respect to such shares shall be effective under the
Securities Act of 1933, as amended, or (b) the Company shall have received an opinion of counsel satisfactory to it that an exemption from registration under such Act is then available, and (2) there shall have been compliance with all
applicable state securities laws.” 
 6. Rights as a Stockholder. The Purchaser shall have all the rights of a
stockholder with respect to the Purchased Shares, including voting and dividend rights, subject to the transfer and other restrictions set forth herein. The Purchaser acknowledges and agrees that nothing herein is intended to give the Purchaser any
right to continued employment by the Company. 
 7. Equitable Relief. The Purchaser specifically acknowledges and agrees
that in the event of a breach or threatened breach of the provisions of this Agreement, including the attempted transfer of the Purchased Shares by the Purchaser in violation of this Agreement, monetary damages may not be adequate to compensate the
Company or the Parent, as applicable, and, therefore, in the event of such a breach or threatened breach, in addition to any right to damages, the Company and the Parent shall be entitled to equitable relief in any court having competent
jurisdiction. Nothing herein shall be construed as prohibiting the Company or the Parent from pursuing any other remedies available to it for any such breach or threatened breach. 

  
 5 

 8. Notices. Any notices required or permitted by the terms of this Agreement shall be
given by recognized courier service, facsimile, registered or certified mail, return receipt requested, addressed as follows: 

If to the Company: 
 Toolrock Holding, Inc. 
 One Cranberry Hill 

750 Marrett Road, Suite 401 
 Lexington, MA 02421 
 If to the Parent: 

Toolrock Holding, Inc. 
 One Cranberry Hill 
 750 Marrett Road, Suite 401 

Lexington, MA 02421 
 If to the Purchaser: 
 _________________________ 

_________________________ 
 _________________________ 
 or to such other address or addresses of which notice in the same
manner has previously been given. Any such notice shall be deemed to have been given on the earliest of receipt, one business day following delivery by the sender to a recognized courier service, or three business days following mailing by
registered or certified mail. 
 9. Benefit of Agreement. Subject to the other provisions hereof, this Agreement shall be
for the benefit of and shall be binding upon the heirs, executors, administrators, successors and assigns of the parties hereto. Neither party shall assign their rights or obligations under this Agreement without the consent of the other party,
which consent shall not be unreasonably withheld. 
 10. Governing Law. This Agreement shall be construed and enforced in
accordance with the laws of the State of Delaware, without giving effect to the conflict of law principles thereof. For the purpose of litigating any dispute that arises under this Agreement, whether at law or in equity, the parties hereby consent
to exclusive jurisdiction in the State of Delaware and agree that such litigation shall be conducted in the courts of Newcastle County, Delaware or the federal courts of the United States for the District of Delaware. 

11. Severability. If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction,
then such provision or provisions shall be modified to the extent necessary to make such provision valid and enforceable, and to the extent 

  
 6 

 
that this is impossible, then such provision shall be deemed to be excised from this Agreement, and the validity, legality and enforceability of the rest of this Agreement shall not be affected
thereby. 
 12. Entire Agreement. This Agreement constitutes the entire agreement and understanding between the parties
hereto with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating to the subject matter hereof. No statement, representation, warranty, covenant or agreement not expressly set forth in
this Agreement shall affect or be used to interpret, change or restrict the express terms and provisions of this Agreement. 

13. Modifications and Amendments; Waivers and Consents. The terms and provisions of this Agreement may be amended, waived, or
consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver or consent shall be deemed to be or shall constitute a waiver or consent with respect to
any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose for which it was given, and shall not constitute a continuing waiver or
consent. 
 14. Consent of Spouse. If the Purchaser is married as of the date of this Agreement, the Purchaser’s
spouse shall execute a Consent of Spouse in the form of Exhibit A hereto, effective as of the date hereof. Such consent shall not be deemed to confer or convey to the spouse any rights in the Purchased Shares that do not otherwise exist by
operation of law or the agreement of the parties. If the Purchaser marries or remarries subsequent to the date hereof, the Purchaser shall, not later than 60 days thereafter, obtain his or her new spouse’s acknowledgement of and consent to the
existence and binding effect of all restrictions contained in this Agreement by such spouse’s executing and delivering a Consent of Spouse in the form of Exhibit A hereto. 

15. Counterparts. This Agreement may be executed in one or more counterparts, and by different parties hereto on separate
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

[the remainder of this page has been intentionally left blank] 

  
 7 

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

									
	The Company:	 		 	TOOLROCK HOLDING, INC.
					
		 		 		 	By:	 	 
		 		 		 	Name:	 	
		 		 		 	Title:	 	
			
	The Parent:	 		 	TOOLROCK INVESTMENT, LLC
					
		 		 		 	By:	 	 
		 		 		 	Name:	 	
		 		 		 	Title:	 	
					
		 	The Purchaser:	 		 	 	 	 

  

  
 8 

 EXHIBIT A 
 CONSENT OF SPOUSE 
 I,
                 , spouse of                  , acknowledge that I
have read the STOCK PURCHASE AGREEMENT dated as of December 7, 2006 (the “Agreement”) to which this Consent is attached as Exhibit A and that I know its contents. Capitalized terms used and not defined herein shall have the meanings
assigned to such terms in the Agreement. I am aware that by its provisions the Purchased Shares granted to my spouse pursuant to the Agreement are subject to, among other things, a Repurchase Right in favor of Latrobe Steel Company (the
“Company”) and that, accordingly, the Company has the right to repurchase up to all of the Purchased Shares of which I may become possessed as a result of a gift from my spouse or a court decree and/or any property settlement in any
domestic litigation. 
 I hereby agree that my interest, if any, in the Purchased Shares subject to the Agreement shall be
irrevocably bound by the Agreement and further understand and agree that any community property interest. I may have in the Purchased Shares shall be similarly bound by the Agreement. 

I agree to the Repurchase Right described in the Agreement and I hereby consent to the repurchase of the Purchased Shares by the Company
and the sale of the Purchased Shares by my spouse or my spouse’s legal representative in accordance with the provisions of the Agreement. Further, as part of the consideration for the Agreement, I agree that at my death, if I have not disposed
of any interest of mine in the Purchased Shares by an outright bequest of the Purchased Shares to my spouse, then the Company shall have the same rights against my legal representative to exercise its rights of repurchase with respect to any
interest of mine in the Purchased Shares as it would have had pursuant to the Agreement if I had acquired the Purchased Shares pursuant to a court decree in domestic litigation. 

I AM AWARE THAT THE LEGAL, FINANCIAL AND RELATED MATTERS CONTAINED IN THE AGREEMENT ARE COMPLEX AND THAT I AM FREE TO SEEK INDEPENDENT
PROFESSIONAL GUIDANCE OR COUNSEL WITH RESPECT TO THIS CONSENT. I HAVE EITHER SOUGHT SUCH GUIDANCE OR COUNSEL OR DETERMINED AFTER REVIEWING THE AGREEMENT CAREFULLY THAT I WILL WAIVE SUCH RIGHT. 

Dated as of the              day of
                    . 
  

	
	  
	Print name:

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