Document:

LDL-2014.12-31 Exhibit 10.18

Exhibit 10.18

FORM (FOR U.S. EMPLOYEES) OF
LYDALL, INC.
PERFORMANCE SHARE AWARD AGREEMENT
(Three-Year Period)

THIS PERFORMANCE SHARE AWARD AGREEMENT (this “Agreement”) is made between Lydall, Inc., a Delaware corporation (“Lydall”), and the  recipient (the “Recipient”) with respect to an Award under Lydall’s 2012 Stock Incentive Plan (the “Plan”) pursuant to the award letter (the “Award Letter”), dated [_________], from Lydall to the Recipient. All capitalized terms used but not defined in this Agreement shall have the same meanings that have been ascribed to them in the Plan, unless the context clearly requires otherwise. 
1.Grant of Performance Shares.  On the Date of Grant (as defined in the Award Letter), the Recipient has been granted the number of shares of Restricted Stock as set forth in the Award Letter (the “Performance Shares”). The Performance Shares are subject to the terms and conditions set forth in the Award Letter,   this Agreement and the Plan. By accepting this Agreement, Recipient understands that the Performance Shares will be forfeited unless both (a) the Performance Objectives (as defined below) are met and (b) the Recipient remains in employment by the Company through the date of the Certification (as defined below). 
2.Acceptance of Award.  The Recipient shall have no rights with respect to the Performance Shares unless the Recipient accepts this Agreement no later than the close of business on the date that is sixty  (60) days after the Date of Grant. Such acceptance shall be effected by accessing the website of Lydall’s administrative agent (the “Administrative Agent”), referenced in the Award Letter  and completing the required on-line grant acknowledgment process. 
3.Ownership of Performance Shares; No Rights to Dividends on Performance Shares That Do Not Vest.  As soon as practicable after the acceptance of the Award by the Recipient, Lydall will cause the Performance Shares to be issued in book entry form in the name of the Recipient, whereupon they will be held for the benefit of the Recipient by the Administrative Agent until the Performance Shares vest or are forfeited in accordance with the terms and conditions of the Plan and this Agreement.  Upon such issue, the Recipient shall be the holder of record of the Performance Shares granted hereunder and will have, subject to the terms and conditions of the Plan and this Agreement, voting rights of a stockholder with respect to such Shares. Lydall shall retain custody of all Unvested Dividends made or declared with respect to the Performance Shares, subject to the same restrictions, terms and conditions as are applicable to the Performance Shares, until such time, if ever, as the Performance Shares shall vest.
4.Performance Condition.
(a)Period.  The Performance Period for the Performance Shares is defined in the Award Letter.
(b)Performance Objectives.  The actual number of Shares eligible for vesting will depend upon satisfaction of the Performance Objectives as defined below. To the extent this Award is intended to be a Section 162(m) Award, this Award shall be subject to Section 9(h) of the Plan.  The “Performance Objectives” shall be the EPS (as defined below) for the last full fiscal year of the Performance Period compared to the target for such fiscal year (the “Target”), the threshold for such fiscal year (the “Threshold”) and the maximum for such fiscal year (the 

Form of PSA    1    Approved 12/4/14

“Maximum”), each as established by the Plan Administrator, as stated in the Award Letter and calculated as set forth in the following table:

	
		
	

EPS Achievement 
	“Vesting Percentage”
of Performance Shares

	Below Threshold
	None

	Threshold
	50%

	Target
	100%

	Maximum
	150%

For purposes of the foregoing, “EPS” means the diluted net income per share of Common Stock of Lydall for the last year of the Performance Period, as set forth in the audited financial statements of Lydall, as may be adjusted by the Plan Administrator pursuant to the terms of the Plan.  Any adjustments with respect to Section 162(m) Awards shall be subject to compliance with Section 162(m). 

The Vesting Percentage of the Performance Shares where performance achievement is between Threshold and Target will be scaled on a linear basis from 50% to 100%, and the Vesting Percentage of the Performance Shares where performance achievement is between Target and Maximum will be scaled on a linear basis from 100% to 150%. 

EPS will be rounded to the nearest whole cent, and the number of Performance Shares determined by the Vesting Percentage will be rounded to the nearest whole share.  All other calculations will be rounded to two decimal places. In the event that, in determining the EPS for the last full fiscal year of the Performance Period, the Plan Administrator adjusts the diluted net income per share of Common Stock from that set forth in the audited financial statements of Lydall, the Certification may include a brief statement setting forth the amount of the adjustment and the reasons therefor. Any adjustments with respect to Section 162(m) Awards shall be subject to compliance with Section 162(m).

(c)Determination of Level of Performance Objectives Achieved.  As soon as practicable following the completion of the Performance Period and the preparation of Lydall’s audited financial statements for the applicable period, the Plan Administrator shall (a) determine the satisfaction of the Performance Objectives and (b) certify in writing, in accordance with the requirements of Section 162(m) to the extent applicable, the extent to which the Performance Objectives have been achieved, if at all, and the Vesting Percentage as defined in 4(b) resulting therefrom (such certification being hereinafter referred to as the “Certification”). 
(d)Delivery of Vested Shares. Following the Certification, the Recipient shall be entitled to receive that number of Shares calculated by multiplying the number of Performance Shares set forth in the Award Letter by the Vesting Percentage set forth in the Certification, together with any Unvested Dividends relating thereto, provided the Recipient has settled all applicable tax withholding obligations arising from the vesting of the Award, as set forth in Section 6 below.  All such vested Shares to which the Recipient is entitled, together with any Unvested Dividends, if any, relating thereto and any additional Performance Shares, if any, to which the Recipient is entitled by virtue of the Vesting Percentage being in excess of 100%, shall be released or delivered, as applicable, to the Recipient as soon as reasonably practical  after the date of the Certification.  Delivery of Shares will be made electronically via book entry to an account in the name of the Recipient maintained with Lydall’s transfer agent or Administrative Agent.  In connection therewith, 

Form of PSA    2    Approved 12/4/14

the Recipient agrees to execute any documents reasonably requested by Lydall or the Administrative Agent.
5.Forfeiture; Transfer Restrictions. 
(a)    All Performance Shares that do not vest pursuant to Section 4, as well as any Unvested Dividends relating to the Performance Shares that do not vest, shall be forfeited, effective as of the date of the Certification.
(b)    If the Recipient’s employment with the Company terminates for any reason whatsoever prior to the date on which the Certification is made, then, effective upon the date of such termination, all of the Performance Shares, as well as any Unvested Dividends relating thereto, shall be forfeited.
(c)    Neither the Performance Shares, nor the Recipient’s interest in any of the Performance Shares or Unvested Dividends, may be encumbered, sold, assigned, transferred, pledged or otherwise disposed of at any time prior to the date of the Certification. In the event any such action is taken, all of the Performance Shares evidenced by this Agreement, as well as any Unvested Dividends relating thereto, shall thereupon automatically be forfeited, effective as of the date of such event. 
(d)    All forfeited Shares shall be delivered promptly to Lydall by the Administrative Agent, and Lydall shall direct the transfer agent and registrar of the Common Stock to make appropriate entries upon its or their records.
(e)    The Plan Administrator shall make all determinations as to whether an event has occurred resulting in the forfeiture of Performance Shares and any related Unvested Dividends, and all such determinations of the Plan Administrator shall be final and conclusive.
(f)    The Performance Shares shall be subject to the forfeiture and recoupment provisions of Section 10(a) of the Plan.
6.Taxation.
(a)The Recipient recognizes and agrees that there may be certain tax issues that affect the Recipient arising from the grant and/or vesting of the Performance Shares and that the Recipient is solely responsible for payment of all federal, state and local taxes resulting therefrom.  The Company expressly provides no tax advice to the Recipient and recommends that the Recipient seek personal tax advice.  In general, the Recipient will have taxable income in any year during which Performance Shares vest, in an amount equal to the number of Shares that vest multiplied by the fair market value of the Common Stock on the vesting date.  This amount will be included in Recipient’s taxable income reported on Form W-2 for that year.  
(b)Any applicable income and employment tax withholding obligations associated with the vesting of the Performance Shares must be satisfied in accordance with the Plan and sub-section (c) below, prior to the delivery of vested Shares to the Recipient.
(c)Unless otherwise determined by the Plan Administrator, Recipient’s tax withholding liability will be satisfied through “net withholding” whereby the number of vested Shares actually delivered to the Recipient is reduced by a number of Shares with a fair market value of the Common Stock on the vesting date equal to the Company’s minimum statutory withholding tax liability outlined in (b) above.

Form of PSA    3    Approved 12/4/14

(d)Section 83(b) of the Code permits the Recipient to recognize income in the year in which the Performance Shares are granted, rather than in the subsequent year in which they vest.  This election must be filed with the Internal Revenue Service within 30 days of the Date of Grant.  The Recipient is encouraged to discuss this alternative with his or her own tax advisor.  In the event that the Recipient desires to make an election under Section 83(b) of the Code, the Recipient first shall make appropriate arrangements with the Company for the payment of all applicable withholding taxes associated with such election.
7.No Employment Rights.  Nothing in this Agreement shall be deemed to:  (a) confer or be deemed to confer upon the Recipient any right to continue in the employ of the Company or in any way affect the right of the Company to dismiss or otherwise terminate the Recipient’s employment at any time for any reason with or without cause, (b) impose upon the Company any liability for any forfeiture of Performance Shares which may result if the Recipient’s employment is terminated, or (c) affect the Company’s right to terminate or modify any contractual relationship with a Recipient who is not an employee of the Company.
8.Changes in Capitalization.  Neither this Agreement nor the grant of the Performance Shares shall affect in any way the right or power of Lydall or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in Lydall’s capital structure or its business, or any merger or consolidation of Lydall or any Lydall Affiliate, or any issue of bonds, debentures, preferred or prior preference stocks ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of Lydall or any Lydall Affiliate, or any sale or transfer of all or any part of Lydall’s assets or business, or any other corporate act or proceedings, whether of a similar character or otherwise.
9.Change in Control. Upon a Change in Control Event or other Reorganization Event, the Performance Shares shall be subject to the terms of the Plan. 
10.Plan Terms and Plan Administrator Authority.  This Agreement and the rights of the Recipient hereunder are subject to all of the terms and conditions of the Plan, as it may be amended from time to time, as well as to such rules and regulations as the Plan Administrator may adopt for the administration of the Plan.  It is expressly understood that the Plan Administrator is authorized to administer, construe and make, in its sole and absolute discretion, all determinations necessary or appropriate for the administration of the Plan and this Agreement, all of which shall be binding upon the Recipient.  This Agreement shall be interpreted and applied in a manner consistent with the provisions of the Plan, and in the event of any inconsistency between this Agreement and the Plan, the terms of the Plan shall control.
11.Miscellaneous 
(a)    Amendment; Modification; Waiver.  No provision of this Agreement may be amended, modified or waived unless authorized by the Plan Administrator, and no amendment or modification of this Agreement may be made without Recipient’s consent except as permitted by Section 9(e) of the Plan.
(b)    Notices.  Except as otherwise provided herein, every notice or other communication relating to this Agreement shall be in writing, and shall be mailed or delivered to the party for whom it is intended at such address as may from time to time be designated by such party in a notice mailed or delivered to the other party as herein provided; provided, that, unless and until some other address be so designated, all notices or communications to the Company shall be mailed to or delivered to Lydall’s Vice President, General Counsel and Secretary, with a copy to its Vice President of Human Resources, both at Lydall, Inc., One Colonial Road, P. O. Box 

Form of PSA    4    Approved 12/4/14

151, Manchester, Connecticut, 06045-0151, and all notices by the Company to the Recipient may be given to the Recipient personally or may be mailed to him or her at the last address designated for the Recipient on the employment records of the Company.  For purposes of this section, the term “mailed” includes electronic delivery methods.
(c)    Appointment of Agent.  By accepting the Performance Shares evidenced by this Agreement, the Recipient hereby irrevocably nominates, constitutes and appoints each of Lydall’s Vice President of Human Resources and the Administrative Agent as his or her agent and attorney-in-fact to take any and all actions and to execute any and all documents, in the name and on behalf of the Recipient, for any purpose necessary or convenient for the administration of the Plan and this Agreement.  This power is intended as a power coupled with an interest and shall survive the Recipient’s death.  In addition, it is intended as a durable power and shall survive the Recipient’s incapacity.  Lydall has the right to change the appointed transfer agent or Administrative Agent from time to time.
(d)    Governing Law; Jurisdiction.  This Agreement shall be governed by and interpreted in accordance with the laws of the State of Delaware, excluding choice-of-law principles of the law of such state that would require the application of the laws of a jurisdiction other than the State of Delaware, and the Recipient agrees to the exclusive jurisdiction of Connecticut courts. 
(e)    Compliance with Laws. The issuance or delivery of Shares pursuant to this Agreement shall be subject to, and shall comply with, any applicable requirements of any federal and state securities laws, rules and regulations (including, without limitation, the provisions of the Securities Act and the Exchange Act, and any rules and regulations promulgated thereunder) and any other law or regulation applicable thereto.  Lydall shall not be obligated to issue or deliver to Recipient any Shares pursuant to this Agreement if such issuance or delivery would violate any such requirements.
(f)    Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity, legality or enforceability of the remainder of this Agreement, it being intended that all rights and obligations of the Company and the Recipient shall be enforceable to the fullest extent permitted by law.
12.Statute of Limitations.  The Recipient hereby agrees that there shall be a one-year statute of limitations for the filing of any claim relating to this Agreement or the terms or conditions of the Performance Shares.  If such a claim is filed more than one year subsequent to the earlier of the date on which the vesting of the Performance Shares is scheduled to occur or termination of the Recipient’s employment, it shall be precluded by this provision, whether or not the claim has accrued at that time.
IN WITNESS WHEREOF, the undersigned officer of Lydall has executed this Agreement.
LYDALL, INC.

By:    /s/ Dale G. Barnhart
Name:  Dale G. Barnhart
Title:  President and Chief Executive Officer

Form of PSA    5    Approved 12/4/14LDL-2014.12-31 Exhibit 10.34

Exhibit 10.34

AMENDMENT TO THE AMENDED AND RESTATED SECURITY AGREEMENTS,
THE AMENDED AND RESTATED DOMAIN NAME COLLATERAL ASSIGNMENT AND
SECURITY AGREEMENT AND PARTIAL RELEASE

THIS AMENDMENT TO THE AMENDED AND RESTATED SECURITY AGREEMENTS, THE AMENDED AND RESTATED DOMAIN NAME COLLATERAL ASSIGNMENT AND SECURITY AGREEMENT AND PARTIAL RELEASE (“Amendment and Partial Release”) is made this 30th day of January, 2015, by and among LYDALL, INC., a Delaware corporation (“Lydall”), LYDALL THERMAL/ ACOUSTICAL, INC., a Delaware corporation (“Lydall Thermal”), and BANK OF AMERICA, N.A., a national banking association (“Bank of America”), on behalf of itself and as Administrative Agent (in such capacity, the “Agent”) for the ratable benefit of itself and the other lenders that are party to the Amended and Restated Credit Agreement (defined below) (collectively with Bank of America, the “Lenders”).
WITNESSETH:
WHEREAS, Lydall, the Agent and the Lenders are parties to that certain Amended and Restated Credit Agreement dated as of February 18, 2014 (the “Amended and Restated Credit Agreement”) pursuant to which the Lenders have agreed to make loans or extend credit accommodations to Lydall in an amount not to exceed $100,000,000 at any one time outstanding; and
WHEREAS, the obligations of Lydall under the Amended and Restated Credit Agreement are secured in part by (i) that certain Amended and Restated Security Agreement dated as of February 18, 2014 by and between Lydall and the Agent (the “Lydall Security Agreement”)  pursuant to which Lydall granted the Agent a security interest in all assets of Lydall other than certain Excluded Assets, as defined in the Lydall Security Agreement; (ii) that certain Amended and Restated Domain Name Collateral Assignment and Security Agreement dated as of February 18, 2014 made by Lydall in favor of the Agent (the “Domain Name Assignment”) pursuant to which Lydall granted the Agent a security interest in all of Lydall’s Domain Names, as defined in the Domain Name Assignment, including but not limited to the Domain Names set forth on Exhibit A attached hereto and made a part hereof (such Domain Names set forth on Exhibit A hereto being herein called the “Charter Medical Domain Names”) and the Domain Name Rights and Domain License Rights, each as defined in the Domain Name Assignment, relating to, or arising from, the Charter Medical Domain Names (collectively together with the Charter Medical Domain Names herein called the “Charter Medical Domain Names Collateral”); and (iii) that certain Amended and Restated Guaranty Agreement dated as of February 18, 2014 made by Lydall Thermal, and certain other Domestic Subsidiaries of Lydall in favor of the Agent (the “Guaranty Agreement”) with Lydall Thermal’s obligations under the Guaranty Agreement being secured by that certain Amended and Restated Security Agreement dated as of February 18, 2014 by and between Lydall Thermal and the Agent (the “Lydall 

Thermal Security Agreement”) pursuant to which Lydall Thermal granted the Agent a security interest in all assets of Lydall Thermal other than Excluded Assets, as defined in the Lydall Thermal Security Agreement, and which security interest covered among other assets, all of Lydall Thermal’s equity interest in Charter Medical; and 
WHEREAS, Section 7.05(g) of the Amended and Restated Credit Agreement provides that, subject to specified conditions, sales of assets in an aggregate amount of up to $25,000,000 in an Annual Period (as defined therein) is deemed a permitted Disposition; and
WHEREAS, Lydall and Lydall Thermal have notified the Lender that they are in the process of negotiating the sale of Charter Medical, which constitutes less than $25,000,000 of the assets of Lydall; and
WHEREAS, Lydall and Lydall Thermal desire to have the Agent release all liens and security interests it holds for itself and for the benefit of the Lenders in or on (i) Lydall Thermal’s equity interest in Charter Medical; and (ii) the Charter Medical Domain Names Collateral, all of which are to be conveyed to the purchaser of the stock of Charter Medical when it is sold by Lydall Thermal.
NOW, THEREFORE, for good and valuable consideration, each to the other paid, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Definitions.  All capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed to them in the Amended and Restated Credit Agreement, the Lydall Security Agreement, the Domain Name Assignment, the Lydall Thermal Security Agreement or the Guaranty Agreement, as applicable.
2.    Representation.  Lydall hereby represents and warrants that the sale of Charter Medical to Fenner Drives, Inc., when aggregated with all other sales of assets of Lydall within the current Annual Period, does not exceed the Annual Basket Amount for such period in accordance with Section 7.05(g) of the Amended and Restated Credit Agreement.     
3.    Release.  The Agent, for itself and on behalf of all of the Lenders, hereby agrees that upon the transfer of title of all Lydall Thermal’s equity interest in Charter Medical to Fenner Drives, Inc., any and all liens or security interests which it holds in or on (i) Lydall Thermal’s equity interest in Charter Medical; and (ii) the Charter Medical Domain Names Collateral, whether created by the Lydall Security Agreement, the Domain Name Assignment, the Lydall Thermal Security Agreement, the Guaranty Agreement or otherwise, shall be automatically terminated, cancelled, discharged and released.  Following the transfer of the stock of Charter Medical by Lydall Thermal to Fenner Drives, Inc., the Lender agrees to take all such further actions and to provide Lydall and Lydall Thermal, and their successors and assigns, all such cooperation and assistance (including but not limited to the execution and delivery of all documents or other instruments) reasonably requested from Lender to more fully and effectively effectuate the foregoing release, including but not limited to, 

2
    

the execution and delivery to Lydall of a Release Of Security Interest In Domain Names And Related Collateral in the form attached hereto as Exhibit B.
4.    Ratification.  Except as hereby modified, all of the terms, covenants, and conditions of the Lydall Security Agreement, the Domain Name Assignment, the Lydall Thermal Security Agreement and the Guaranty Agreement are hereby confirmed, ratified and approved in all respects and shall continue in full force and effect.  Henceforth, references in the Lydall Security Agreement, the Domain Name Assignment, the Lydall Thermal Security Agreement and the Guaranty Agreement to “this Agreement”, “hereof,” “hereto” as words of similar import shall be deemed in each case to refer to such documents as hereby amended.
5.    Counterparts; Facsimile Transmissions; PDF Electronic Transmissions.
A.    This Amendment and Partial Release may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
B.    Telefacsimile or PDF electronics transmissions of any executed counterpart of this Amendment and Partial Release and/or retransmission of any executed telefacsimile or PDF electronic transmission shall be deemed to be the same as the delivery of an executed original.  At the request of either party hereto, the other party shall confirm telefacsimile or PDF electronic transmissions by executing duplicate original documents and delivering the same to the requesting party.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK, 
SIGNATURE PAGE FOLLOWS]

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IN WITNESS WHEREOF, Lydall, Lydall Thermal and the Agent have caused this Amendment and Partial Release to be duly executed as of the date and year first written above.    
LYDALL, INC.

By: /s/ James V. Laughlan
Name:  James V. Laughlan
Title:    Vice President, Chief Accounting 
Officer and Treasurer

LYDALL THERMAL/ACOUSTICAL, INC.

By: /s/ James V. Laughlan
Name:  James V. Laughlan
Title:    Vice President, Chief Accounting 
Officer and Treasurer

BANK OF AMERICA, N.A., as Administrative Agent

By: /s/ Christopher T. Phelan
Name:  Christopher T. Phelan
Title:  Senior Vice President

4
    

STATE OF CONNECTICUT)
)    ss Manchester                     January 30, 2015
COUNTY OF HARTFORD    )

Personally appeared James V. Laughlan, Vice President, Chief Accounting Officer and Treasurer of LYDALL, INC., a Delaware corporation, signer and sealer of the foregoing instrument, and acknowledged the same to be his/her free act and deed of such Officer and the free act and deed of such corporation before me.
 

/s/ Donna G. Tracy
Name:  Donna G. Tracy
Commissioner of the Superior Court
Notary Public
My Commission Expires: March 31, 2018

STATE OF CONNECTICUT    )
)    ss Manchester                     January 30, 2015
COUNTY OF HARTFORD    )

Personally appeared James V. Laughlan, Vice President, Chief Accounting Officer and Treasurer of LYDALL THERMAL/ACOUSTICAL, INC., a Delaware corporation, signer and sealer of the foregoing instrument, and acknowledged the same to be his/her free act and deed of such Officer and the free act and deed of such corporation before me.

/s/ Donna G. Tracy
Name:  Donna G. Tracy                                                Commissioner of the Superior Court
Notary Public
My Commission Expires: March 31, 2018

STATE OF CONNECTICUT    )
)    ss Hartford                         January 29, 2015
COUNTY OF HARTFORD    )

Personally appeared Christopher T. Phelan, Senior Vice President of BANK OF AMERICA, N.A., a national banking association, signer and sealer of the foregoing instrument, and acknowledged the same to be his/her free act and deed of such Officer and the free act and deed of such corporation before me.

/s/ Lisa A. Martocchio                                                Name:  Lisa A. Martocchio
Commissioner of the Superior Court
Notary Public
My Commission Expires: December 31, 2016

5
    

EXHIBIT A

CHARTER MEDICAL DOMAIN NAMES

	
				
	Domain
	Registration Date
	Expiration Date
	Owner

	cellfreeze.com
	11/24/2010
	08/17/2015
	Lydall, Inc.

	chartermed.com
	02/16/2006
	04/02/2015
	Lydall, Inc.

	chartermedical.com
	02/16/2006
	01/28/2015
	Lydall, Inc.

	mybiobag.com
	02/16/2006
	12/13/2015
	Lydall, Inc.

	mybiopack.com
	02/16/2006
	12/13/2015
	Lydall, Inc.

	mybiopak.com
	02/16/2006
	12/13/2015
	Lydall, Inc.

    

EXHIBIT B
RELEASE OF SECURITY INTEREST IN DOMAIN NAMES
AND RELATED COLLATERAL

KNOW ALL MEN BY THESE PRESENTS, that BANK OF AMERICA, N.A., for itself and as administrative agent (in such capacity, the “Agent”) for the ratable benefit of the Lenders party to that certain Amended and Restated Credit Agreement dated as of February 18, 2014 by and among Lydall, Inc., the Agent and the Lenders party thereto (the “Amended and Restated Credit Agreement”), for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, DOES HEREBY CERTIFY that the security interest which the Agent holds in the domain names set forth on Schedule A attached hereto and made a part hereof (the Charter Medical Domain Names”) of Lydall, Inc., granted to the Agent pursuant to the Amended and Restated Domain Name Collateral Assignment and Security Agreement dated as of February 18, 2014 by and between Lydall, Inc. and the Agent (the “Domain Name Security Agreement”), and any and all other rights or interests relating to, or arising from, or associated with, the Charter Medical Domain Names which were granted to the Agent pursuant to the Domain Name Security Agreement (collectively the “Charter Medical Domain Names Related Collateral”), is terminated, cancelled, discharged and released and all interests in such Charter Medical Domain Names and Charter Medical Domain Names Related Collateral previously assigned, granted or conveyed to the Agent under the Domain Name Security Agreement is hereby reassigned, regranted and reconveyed to Lydall, Inc., without representation or warranty of any kind, nature or description.
The Agent shall take all such further actions, and provide to Lydall, Inc., and its successors, assigns or other legal representatives, all such cooperation and assistance (including, without limitation, the execution and delivery of any and all documents or other instruments), reasonably requested by Lydall, Inc. to more fully and effectively effectuate the purposes of this Release of Security Interest In Domain Names And Related Collateral.
IN WITNESS WHEREOF, the Agent, for itself and on behalf of all the Lenders under the Amended and Restated Credit Agreement, has caused this Release Of Security Interest In Domain Names And Related Collateral to be executed by its duly authorized corporate officer this 29th day of January, 2015.

BANK OF AMERICA, N.A., 
as Administrative Agent

By: /s/Christopher T. Phelan

    

       Name:  Christopher T. Phelan
       Title:  Senior Vice President

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