Document:

EXECUTIVE OFFICER CHANGE IN CONTROL AGREEMENT

 Exhibit 10.2 
 EXECUTIVE OFFICER CHANGE IN CONTROL AGREEMENT 
 EXECUTIVE OFFICER CHANGE IN
CONTROL AGREEMENT entered into this 30th day of June, 2012 by and between Teradyne, Inc., a Massachusetts corporation (“Teradyne”), and the undersigned executive officer of Teradyne (“Employee”). 

WITNESSETH: 

WHEREAS, Teradyne and Employee desire to set forth certain terms and conditions relating to the termination of Employee’s employment
upon the occurrence of a Change in Control (as hereinafter defined) of Teradyne. 
 NOW THEREFORE, in consideration of the
premises and of the mutual covenants and agreements hereinafter set forth, the parties hereto hereby agree as follows: 
 1.
Entitlements Upon a Termination Event. If, within twenty-four (24) months following a Change in Control or in contemplation of a Change in Control, there is a Termination Event, and subject to the conditions set forth herein and the
performance by Employee of the undertakings and duties set forth herein, Employee shall be entitled to the rights, payments and other benefits set forth below: 
 (a) Treatment of Awards. Equity Awards that are not subject to Performance Criteria shall be governed by Section 1(b) below, and Cash Awards and Equity Awards that are subject to
Performance Criteria shall be governed by Section 1(c) below. The parties hereto acknowledge that, except as otherwise provided herein, the terms of this Agreement are intended to modify the terms of Employee’s existing Cash Award and
Equity Award agreements and to be a supplement to Cash Award and Equity Award agreements granted on or subsequent to the date hereof. 
 (b) Acceleration of Equity Awards. All of Employee’s unvested or unexercisable Equity Awards or Equity Awards subject to restrictions on transfer imposed by Teradyne or repurchase rights in
favor of Teradyne, as applicable, granted prior to, on, or after the date hereof (but only (I) such Equity Awards as have been granted to Employee by Teradyne as of the date of the Change in Control or (II) such Equity Awards as have been
assumed by an acquiring company at the time of a Change in Control or such new cash and equity awards that have been substituted by an acquiring company for Equity Awards existing at the time of a Change in Control, each pursuant to the terms of any
Teradyne incentive plan) shall automatically become fully vested, exercisable or free of restrictions on transfer imposed by Teradyne or repurchase rights in favor of Teradyne, as applicable, as of the date of such Termination Event, and all Equity
Awards granted on or after the date hereof shall, to the extent applicable, remain exercisable for the remainder of the generally applicable term of such Equity Award. 
 (c) Satisfaction of Performance Criteria. All of Employee’s Cash Awards and Equity Awards that are subject to Performance Criteria shall be settled and paid in the following

 
manner: Employee shall be deemed to have satisfied the necessary percentage of the Performance Criteria to which such Cash Awards and Equity Awards are subject as of the date of the Termination
Event, that will provide Employee with the target level of such Cash Awards and Equity Awards; and Employee shall be entitled to receive that portion of each Cash Award and Equity Award payable, at the target level. For purposes of the Cash Awards,
the payment shall be multiplied by a fraction, the numerator of which shall be the number of calendar months that have passed during the period in which the Performance Criteria are to be measured (treating the month in which the Termination Event
occurs as a full calendar month) and the denominator of which shall be the total number of calendar months in such period. For purposes of this Agreement, “target level” is that percentage of the Performance Criteria established at the
beginning of the calendar year in order for the Employee to achieve Model Compensation. Unless otherwise required under Section 1(e) below, such Cash Awards and Equity Awards shall be paid to Employee or the restrictions on transfer removed not
later than 10 days following the Termination Event. 
 (d) Salary Continuation. Unless otherwise
required under Section 1 (e) below, Teradyne shall pay Employee monthly an amount equal to 1/12th of Employee’s current annual Model Compensation as of the Termination Event for a period of 24 months following the date of the Termination Event (the “Salary Continuation Period”). In the
event a Termination Event constitutes termination for Good Reason on account of a material reduction in Model Compensation, the payment obligation pursuant to this Section 1(d) shall be calculated without giving effect to any such reductions in
Model Compensation. All such continued payments shall be made in accordance with Teradyne’s customary pay practices. 
 (e)
Deferred Compensation/Section 409A. 
 (i) Notwithstanding any other provision of this Agreement, if the Employee
is a “ specified employee” at the time of the Employee’s “separation from service” as defined in Section 409A of the Code , all payments, benefits, or removal of restrictions on the transfer of equity under this Agreement
with respect to the Employee’s “separation from service” that constitute compensation deferred under a nonqualified deferred compensation plan as defined in Section 409A of the Code to which such specified employee would
otherwise be entitled during the first six months following the date of separation from service shall be made on the first day of the seventh month after the date of separation from service (or, if earlier, the date of death of the Employee).

 (ii) For purposes of this Agreement, each amount to be paid or benefit to be provided shall be construed as a separate
identified payment for purposes of Section 409A, and any payments that are due within the “short term deferral period” as defined in Section 409A or payments that are made under separation pay plans as described in Treasury
Regulation Section 1.409A-1(b)(9)(ii), (iii) or (iv), shall not be treated as deferred compensation unless applicable law requires otherwise. Neither Teradyne nor the Employee shall have the right to accelerate or defer the delivery of any
payments or benefits under this Agreement except to the extent specifically permitted or required by Section 409A. 

  
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 (iii) This Agreement is intended to comply with the provisions of Section 409A and the
Agreement shall, to the extent practicable, be construed in accordance therewith. Terms defined in the Agreement shall have the meanings given such terms under Section 409A if and to the extent required to comply with Section 409A. In any
event, Teradyne makes no representations or warranty and shall have no liability to Employee or any other person if any provisions of or payments under this Agreement are determined to constitute deferred compensation subject to Code
Section 409A but not to satisfy the conditions of that section. 
 (iv) If any amount is payable under the provisions of
paragraph (f), below, as a reimbursement of Employee’s expenses, under the provisions of Section 2 and 13, or any other provision of this Agreement that constitutes a reimbursement of expenses under Section 409A then, notwithstanding
the other provisions of this Agreement with respect to the payment of such reimbursement, the following limitations shall apply; (A) the expenses eligible for reimbursement may not affect the expenses eligible for reimbursement in any other
taxable year; (B) such reimbursement must be made on or before the last day of the year following the year in which the expenses are incurred; (C) the right to reimbursement is not subject to liquidation or exchange for another benefit;
and (D) in connection with reimbursements under Section 13 the period during which such expenses can be incurred extends to the end of the period permitted for such claims under the applicable statute of limitations. 

(f) Benefit Continuation. During the Salary Continuation Period, Teradyne shall arrange or provide for continued health,
dental and vision insurance plan coverage for the Employee at the same levels of coverage in existence prior to the Termination Event subject to Teradyne and Employee each contributing to the applicable insurance premium payments on the same basis
and in the same proportions as in existence at the date of the Termination Event. If the Employee is not eligible for continued health, dental and vision insurance plan coverage for any portion of the twenty-four (24) month period defined
herein, Teradyne shall provide or reimburse Employee for comparable individual insurance and, if such provision or reimbursement constitutes taxable income to the Employee, such additional amount as is necessary to place the Employee in
substantially the same after tax position as he was while an employee of Teradyne with respect to such insurance plan coverages. All other benefits, including but not limited to flex/vacation time accrual, short and long term disability insurance,
life insurance, contributions (including company matches) into savings plan and “savings plan plus”, profit sharing payments and participation in the Employee stock purchase plan shall cease as of the date of the Termination Event.

 To the extent that amounts paid by Teradyne to provide the benefits under this paragraph (f) are deemed to be deferred
compensation subject to Section 409A, then such payments shall be made monthly and any payment to preserve the Employee’s after tax position shall be made within 60 days after the end of each calendar year in which the taxable provision or
reimbursement occurs. 
 (g) Release. Notwithstanding any other provision of this Agreement to the contrary, no
payment , benefit or removal of restriction on the transfer of equity provided for under or by virtue of the provisions of this Agreement shall be paid or otherwise made available unless Teradyne shall have first received from Employee a valid,
binding and irrevocable general release, in the form of Attachment A to this Agreement within twenty-one (21) days of 

  
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the date of the Termination Event; provided further that Teradyne shall be permitted to defer any payment, benefit or removal of restriction on the transfer of equity provided for in this
Agreement, whether pursuant to Section 1(e), 1(f) or otherwise, until the tenth day after the later of its receipt of such release and the time at which the release has become valid, binding and irrevocable; provided that if the last day on which
Teradyne would be permitted to commence payments, benefits, or removal of restrictions under this Agreement in accordance with this provision falls in the taxable year following the taxable year in which the date of the Termination Event occurs,
then all benefits, payments, or removal of restrictions shall be made beginning in that taxable year. Employee shall sign such release within twenty-one (21) days of a Termination Event subsequent to a Change in Control. Teradyne agrees to
provide Employee an estimate relating to payments to be made under this Agreement upon Employee’s written request. 

(h) Certain Definitions. For purposes of this Agreement, the following terms shall have the following meanings: 

“Cash Awards” shall mean any cash-based bonus, cash incentive or other cash awards provided by Teradyne to Employee
pursuant to incentive plans that Teradyne maintains, including but not limited to its 2006 Equity and Cash Compensation Incentive Plan. 
 “Cause” shall mean conduct involving one or more of the following: (i) the substantial and continuing failure of Employee to render services to Teradyne in accordance with the terms
or requirements of his or her employment; (ii) Employee’s disloyalty, gross negligence, willful misconduct, dishonesty, fraud or breach of fiduciary duty to Teradyne, each in connection with Employee’s employment by Teradyne;
(iii) Employee’s deliberate disregard of the rules or policies of, or breach of an agreement with, Teradyne which results in direct or indirect material loss, damage or injury to Teradyne; (iv) the intentional unauthorized disclosure
by Employee of any trade secret or confidential information of Teradyne; (v) the commission by Employee of an act which constitutes unfair competition with Teradyne; or (vi) the conviction of, or the entry of a plea of guilty or nolo
contendere by the Employee, to any crime involving moral turpitude or any felony. In the event that the Company determines that Cause may exist pursuant to clauses (i), (iii) and (v) above, the Company shall give Employee written notice of
the facts constituting such Cause and Employee shall have 30 days following receipt of such notice to remedy such Cause. 
 A
“Change in Control” shall be deemed to have occurred upon the occurrence of any of the following events: (i) any consolidation, cash tender offer, reorganization, recapitalization, merger or plan of share exchange following
which the capital stock of Teradyne outstanding immediately prior to such transaction constitutes less than a majority of the combined voting power of the then-outstanding securities of the combined corporation or person immediately after such
transaction; (ii) any sale, lease, exchange or other transfer of all or substantially all of Teradyne’s assets; (iii) the adoption by the Board of Directors of Teradyne of any plan or proposal for the liquidation or dissolution of
Teradyne; (iv) a change in the majority of the Board of Directors of Teradyne through one or more contested elections occurring within a three-year period; or (v) any person (as that term is used in Section 13(d)(3) or
Section 14(d)(2) of the Securities Exchange Act of 1934, as amended) becomes beneficial owner 

  
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of 30% or more of the combined voting power of Teradyne’s outstanding voting securities, other than (A) as a result of a consolidation, reorganization, recapitalization, merger or plan
of share exchange following which the capital stock of Teradyne outstanding immediately prior to such transaction constitutes at least a majority of the combined voting power of the then-outstanding securities of the combined corporation or person
immediately after such transaction, (B) by any trustee or other fiduciary holding securities under an employee benefit plan of Teradyne, or (C) by a person temporarily acquiring beneficial ownership in its capacity as an underwriter (as
defined pursuant to Section 2(a)(11) of the Securities Act of 1933, as amended) in connection with a public offering of Teradyne’s securities. 
 “Equity Awards” shall mean the equity ownership, participation or appreciation opportunities provided by Teradyne to Employee pursuant to incentive plans that Teradyne maintains,
including but not limited to its 2006 Equity and Cash Compensation Incentive Plan, the Teradyne, Inc. 1991 Employee Stock Option Plan and the Teradyne, Inc. 1997 Employee Stock Option Plan, and any stock options, restricted stock units, restricted
stock, stock appreciation rights, phantom stock and other stock-based awards granted thereunder. 
 “Good
Reason” shall mean any one or more of the following: (i) any material reduction of Employee’s responsibilities (other than for Cause or as a result of death or disability) as they shall exist on the date of the consummation of the
Change in Control; (ii) any material reduction in Employee’s Model Compensation as in effect on the date of the consummation of the Change in Control, or as the same may be increased from time to time, or any failure by Teradyne to pay to
Employee any bonus accrued, but not yet paid, upon written notice by Employee to Teradyne, within 45 days; (iii) a material reduction in the value of Employee’s benefit package from the value of Employee’s benefit package on the date
of the consummation of the Change in Control; or (iv) a requirement that Employee be based at an office that is greater than 50 miles from the location of Employee’s office immediately prior to the Change in Control except for required
travel on Teradyne’s business to an extent substantially consistent with the business travel obligations which Employee undertook on behalf of Teradyne prior to the date of the consummation of the Change in Control. In the event of a
Termination Event in contemplation of a Change of Control, the applicable baseline measurement date shall be six months prior to such Termination Event and not the date of the consummation of the Change in Control. 

“Model Compensation” shall mean Employee’s annual “Model Compensation” as determined by Teradyne’s
Compensation Committee or Board of Directors, which consists of (i) a fixed annual salary and (ii) a target annual variable amount. 
 “Performance Criteria” shall have the meaning ascribed to that term in the Teradyne, Inc. 2006 Equity and Cash Compensation Incentive Plan. 

“Termination Event” shall mean (i) any termination of Employee by Teradyne without Cause or (ii) any voluntary
termination by Employee for Good Reason; provided, that it shall not be a Termination Event merely because Employee ceases to be employed by Teradyne and becomes employed by a successor to Teradyne involved in the Change in Control that assumes or
is otherwise bound by this Agreement as provided in Section 7(a). It is expressly 

  
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understood that no Termination Event shall be deemed to have occurred merely because, upon the occurrence of a Change in Control, Employee ceases to be employed by Teradyne and does not become
employed by a successor to Teradyne after the Change in Control if the successor makes an offer to employ Employee on terms and conditions which, if imposed by Teradyne, would not give Employee a basis on which to terminate employment for Good
Reason. 
 (i) Termination in Contemplation of a Change in Control. For purposes of this Agreement, including without
limitation, this Section 1, a Termination Event occurring “in contemplation of a Change in Control” means a Termination Event occurring within 3 months prior to an actual Change in Control at the request or direction of a person who
enters or has entered into an agreement the consummation of which would cause a Change in Control or who conditions entry into such an agreement on the Employee’s termination whether or not such person actually enters into such an agreement. A
termination by the Employee for Good Reason shall constitute a Termination Event in contemplation of a Change in Control if the actions constituting Good Reason were taken at the request or direction of a person who has entered into an agreement the
consummation of which would cause a Change in Control. 
 2. Reduction of Payments 

(a) Notwithstanding any other provision of this Agreement, in the event that the Company undergoes a Change in Ownership or Control (as
defined below), the Company shall not be obligated to provide to the Executive a portion of any “Contingent Compensation Payments” (as defined below) that the Executive would otherwise be entitled to receive to the extent necessary to
eliminate any “excess parachute payments” (as defined in Section 280G(b)(1) of the Internal Revenue Code of 1986, as amended (the “Code”)) for the Executive. For purposes of this Section 2, the Contingent Compensation
Payments so eliminated shall be referred to as the “Eliminated Payments” and the aggregate amount (determined in accordance with Treasury Regulation Section 1.280G-1, Q/A-30 or any successor provision) of the Contingent Compensation
Payments so eliminated shall be referred to as the “Eliminated Amount.” 
 (b) For purposes of this Section 2,
the following terms shall have the following respective meanings: 
  

	 	(i)	“Change in Ownership or Control” shall mean a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the
assets of the Company determined in accordance with Section 280G(b)(2) of the Code. 

  

	 	(ii)	“Contingent Compensation Payment” shall mean any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or
otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  
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 (c) If and to the extent that any Contingent Compensation Payments are required to be
treated as Eliminated Payments pursuant to this Section 2, then the Payments shall be reduced or eliminated, as determined by the Company, in the following order (i) any cash payments, (ii) any taxable benefits, (iii) any
nontaxable benefits and (iv) any vesting of equity awards, in each case in reverse order beginning with the payments or benefits that are to be paid the farthest in time from the date that triggers the applicability of the excise tax, to the
extent necessary to maximize the Eliminated Payments. 
 3. (a) Non-Competition and Non-Solicitation. From the
Termination Event through the end of the Salary Continuation Period, Employee shall not directly or indirectly: 
  

	 	(i)	Engage in any business or enterprise (whether as an owner, partner, officer, employee, director, investor, lender, consultant, independent contractor or otherwise,
except as the holder of not more than 1% of the combined voting power of the outstanding stock of a publicly held company) that is competitive with Teradyne (including but not limited to, any business or enterprise that develops, designs, produces,
markets, sells or renders any product or service competitive with any product or service developed, produced, marketed, sold or rendered by Teradyne while Employee was employed by Teradyne); 

 

	 	(ii)	Either alone or in association with others, recruit, solicit, hire or engage as an independent contractor, any person who was employed by Teradyne at any time during
the period of Employee’s employment with Teradyne, except for an individual whose employment with Teradyne has been terminated for a period of six months or longer; and 

 

	 	(iii)	Either alone or in association with others, solicit, divert or take away, or attempt to divert or to take away, the business or patronage of any client or customer or
entity that was a prospective client or customer of Teradyne during the Employee’s employment. 

 (b) If any restriction set forth in this Section 3 is found by any court of competent jurisdiction to be unenforceable because it extends for too long a period of time or over too great a range of
activities or in too broad a geographic area, it shall be interpreted to extend only over the maximum period of time, range of activities or geographic area as to which it may be enforceable. 

(c) Employee acknowledges that the restrictions contained in this Section 3 are necessary for the protection of the
business and goodwill of Teradyne and are considered by Employee to be reasonable for such purpose. Employee agrees that any breach of this Section 3 will cause Teradyne irreparable harm and therefore, in the event of any such breach, in
addition to such other remedies that may be available, Teradyne shall have the right to seek equitable and/or injunctive relief. 

  
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 (d) The geographic scope of this Section 3 shall extend to anywhere
Teradyne or any of its subsidiaries is doing business, has done business or has plans to do business. 
 (e)
Employee agrees that during the Salary Continuation Period, he/she will make reasonable good faith efforts to give verbal notice to Teradyne of each new business activity he/she plans to undertake, at least (5) business days prior to beginning
any such activity. 
 (f) If Employee violates the provisions of this Section 3, Teradyne shall be entitled
to suspend and recoup any salary continuation payment made per Section 1 (d) above and Employee shall continue to be bound by the restrictions set forth in this Section 3 for an additional period of time equal to the duration of the
violation, such additional period not to exceed 24 months. 
 3A. No Obligation of Employment. Employee understands that
the employment relationship between Employee and Teradyne will be “at will” and Employee understands that, prior to any Change in Control, Teradyne may terminate Employee with or without “Cause” at any time, including in
contemplation of a Change in Control. Following any Change in Control, Teradyne may also terminate Employee with or without “Cause” at any time subject to Employee’s rights and Teradyne’s obligations specified in this Agreement.

 4. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the
Commonwealth of Massachusetts and this Agreement shall be deemed to be performable in Massachusetts. 
 5. Severability.
In case any one or more of the provisions contained in this Agreement for any reason shall be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision of this
Agreement and this Agreement shall be construed to the maximum extent permitted by law. 
 6. Waivers and Modifications.
This Agreement may be modified, and the rights, remedies and obligations contained in any provision hereof may be waived, only in accordance with this Section 6. No waiver by either party of any breach by the other or any provision hereof shall
be deemed to be a waiver of any later or other breach thereof or as a waiver of any other provision of this Agreement. This Agreement may not be waived, changed, discharged or terminated orally or by any course of dealing between the parties, but
only by an instrument in writing signed by the party against whom any waiver, change, discharge or termination is sought. 
 7.
Assignment. (a) Teradyne shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of Teradyne expressly to assume and agree to perform
under the terms of this Agreement in the same manner and to the same extent that Teradyne and its affiliates would be required to perform it if no such succession had taken place (provided that such a requirement to perform which arises by operation
of law shall be deemed to satisfy the requirements for such an express assumption and agreement), and in such event Teradyne (as constituted prior to such 

  
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succession) shall have no further obligation under or with respect to this Agreement. Failure of Teradyne to obtain such assumption and agreement with respect to Employee prior to the
effectiveness of any such succession shall be a breach of the terms of this Agreement with respect to Employee and shall entitle Employee to compensation from Teradyne (as constituted prior to such succession) in the same amount and on the same
terms as Employee would be entitled to hereunder were Employee’s employment terminated for Good Reason following a Change in Control, except that for purposes of implementing the foregoing, the date on which any such succession becomes
effective shall be deemed the date of the Termination Event. As used in this Agreement, “Teradyne” shall mean Teradyne as hereinbefore defined and any successor to its business or assets as aforesaid which assumes and agrees (or is
otherwise required) to perform this Agreement. Nothing in this Section 7(a) shall be deemed to cause any event or condition which would otherwise constitute a Change in Control not to constitute a Change in Control. 

(b) Notwithstanding Section 7(a), Teradyne shall remain liable to Employee upon a Termination Event after a Change in Control
if Employee is not offered continuing employment by a successor to Teradyne or is offered continuing employment by a successor to Teradyne only on a basis which would constitute Good Reason for termination of employment hereunder. 

(c) This Agreement, and Employee’s and Teradyne’s rights and obligations hereunder, may not be assigned by Employee or,
except as provided in Section 7(a), Teradyne, respectively; any purported assignment by Employee or Teradyne in violation hereof shall be null and void. 
 (d) The terms of this Agreement shall inure to the benefit of and be enforceable by the personal or legal representatives, executors, administrators, permitted successors, heirs, distributees,
devisees and legatees of Employee. If Employee shall die while an amount would still be payable to Employee hereunder if they had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of
this Agreement to Employee’s devisee, legatee or other designee or, if there is no such designee, Employee’s estate. 

8. Entire Agreement. This Agreement constitutes the entire understanding of the parties relating to the subject matter hereof and
supersedes and cancels all agreements, written or oral, made prior to the date hereof between Employee and Teradyne relating to the subject matter hereof; provided, however, that Employee’s existing Cash Award and Equity Award agreements, as
modified hereby, shall remain in effect. This Agreement shall not limit any right of Employee to receive any payments or benefits under an employee benefit or Employee compensation plan of Teradyne, initially adopted as of or after the date hereof,
which are expressly contingent thereunder upon the occurrence of a Change in Control (including, but not limited to, the acceleration of any rights or benefits thereunder); provided that in no event shall Employee be entitled to any payment or
benefit under this Agreement which duplicates a payment or benefit received or receivable by Employee under any severance or similar plan or policy of Teradyne, and in any such case Employee shall only be entitled to receive the greater of the two
payments. 

  
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 9. Notices. All notices hereunder shall be in writing and shall be delivered in
person or mailed by certified or registered mail, return receipt requested, addressed as follows: 
  

			
	 If to Teradyne, to:
	  	Teradyne, Inc.
		  	600 Riverpark Drive
		  	MS NR600-2-2 (Legal Department)
		  	North Reading, MA 01864
		  	Attention: General Counsel

 If to Employee, at Employee’s address in his employment file on record with the Human Resources
Department. 
 10. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be
deemed to be an original, but all of which together shall constitute one and the same instrument. 
 11. Section
Headings. The descriptive section headings herein have been inserted for convenience only and shall not be deemed to define, limit, or otherwise affect the construction of any provision hereof. 

12. Term. The term of this Agreement (the “Term”) shall commence upon the date hereof and terminate upon the
earlier of (i) twenty-four (24) months following any Change in Control of Teradyne, (ii) the date prior to any Change in Control of Teradyne that Employee for any reason ceases to be an employee of Teradyne (other than a Termination
Event in contemplation of a Change in Control) and (iii) the date following any Change in Control of Teradyne that Employee is terminated for Cause or voluntary terminates his employment (other than for Good Reason). 

13. Expenses. All reasonable legal fees and expenses incurred in a legal proceeding by Employee in seeking to obtain or enforce
any right or benefit provided by this Agreement against a successor to Teradyne shall be the responsibility of and paid for by the successor to Teradyne (but not Teradyne as constituted prior to such succession). Such payments are to be made within
twenty (20) days after Employee’s request for payment accompanied with such evidence of fees and expenses incurred as Teradyne’s successor reasonably may require; provided that if Employee institutes a proceeding and the judge or
other decision-maker presiding over the proceeding affirmatively finds that Employee has failed to prevail substantially, Employee shall pay Employee’s own costs and expenses (and, if applicable, return any amounts theretofore paid on
Employee’s behalf under this Section 13). 
 14. Payments. Any payments hereunder shall be made out of the
general assets of Teradyne. The Employee shall have the status of general unsecured creditor of Teradyne, and this Agreement constitutes a mere promise by Teradyne to make payments under this Agreement in the future as and to the extent provided
herein. Unless otherwise determined by Teradyne in an applicable plan or arrangement, no amounts payable hereunder upon a Termination Event shall be deemed salary or compensation for the purpose of computing benefits under any employee benefit
plan or other arrangement of Teradyne for the benefit of its employees. Teradyne shall be entitled to withhold from any payments or deemed payments any amount of tax withholding required by law. 

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

			
	TERADYNE, INC.
		
	By:	 	 /s/ Michael A. Bradley

	Name:	 	Michael A. Bradley
	Title:	 	CEO & President
	
	EMPLOYEE
	
	 /s/ Walter G. Vahey

	Name:	 	Walter G. Vahey

  
 11Amendment No. 2

 Exhibit 10.1 
 EXECUTION COPY 
 AMENDMENT NO. 2 

This AMENDMENT NO. 2 (this “Amendment”) to the Third Amended and Restated Credit Agreement, dated as of July 29,
2010 (as amended by Amendment No. 1, dated as of February 29, 2012 (the “Original Credit Agreement”), and the Original Credit Agreement is amended hereby and further amended, supplemented, amended and restated or otherwise
modified from time to time, the “Credit Agreement”), by and among H&E EQUIPMENT SERVICES, INC., a Delaware corporation (“H&E Delaware”), GREAT NORTHERN EQUIPMENT, INC., a Montana corporation (“Great
Northern”), H&E EQUIPMENT SERVICES (CALIFORNIA), LLC, a Delaware limited liability company (“H&E California” and, together with H&E Delaware and Great Northern, each, a “Borrower” and,
collectively, the “Borrowers”), the other Credit Parties named therein, the Lenders named therein, GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation, as Agent, BANK OF AMERICA, N.A., as Co-Syndication Agent and
Documentation Agent, and WELLS FARGO CAPITAL FINANCE, LLC, as Co-Syndication Agent, is entered into as of August 9, 2012 by and among the Borrowers, the Lenders signatory hereto and the Agent. Unless otherwise provided, all capitalized terms
used herein shall have the meanings ascribed thereto in the Credit Agreement. 
 R E C I T
A L S: 
 WHEREAS, the Borrowers have requested that the Lenders amend the Credit Agreement in the
manner set forth below; and 
 WHEREAS, the Lenders signatory hereto (which constitute the Requisite Lenders under the Credit
Agreement) are willing to agree to such request, but only on the terms and conditions set forth in this Amendment. 
 NOW,
THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, and subject to the terms and conditions hereof, the Borrowers, the Lenders whose signatures appear below and the Agent agree as follows:

 Section 1. 
 AMENDMENTS 
 Subject to the satisfaction of the conditions to effectiveness
referred to in Section 2 hereof, the Original Credit Agreement is hereby amended as follows: 
 (a) Subsection 1.9(a)
of the Original Credit Agreement is amended and restated in its entirety to read as follows: 
  

	 	“(a)	The Borrowers shall pay to GE Capital, individually, the Fees specified in that certain Amendment No. 2 Fee Letter, dated as of August 9, 2012, between
H&E Delaware and GE Capital (as amended, modified, restated, superseded or replaced from time to time, the “GE Capital Fee Letter”), at the times specified for payment therein, which shall include the annual Administrative
Agent’s fee, which will be due and payable on the Closing Date (but only to the extent provided in the GE Capital Fee Letter) and on each anniversary thereof.” 

(b) Subsection 1.18(d) of the Original Credit Agreement is amended and restated in its entirety to read as follows: 

	 	“(d)	The increase of the Incremental Revolving Loan Commitments will be subject to the satisfaction of the following conditions precedent: (i) after giving pro forma
effect to all Revolving Loans that could be incurred under Incremental Revolving Loan Commitments, no Default or Event of Default shall have occurred and be continuing, (ii) execution of the amendment hereto referenced in clause (c) above
by the Agent, the Lenders providing the Incremental Revolving Loan Commitments and the Credit Parties, (iii) delivery to the Agent of a certificate of the Secretary or an Assistant Secretary of each Credit Party, in form and substance
satisfactory to the Agent, certifying the resolutions of such Person’s board of directors (or equivalent governing body) approving and authorizing the Incremental Revolving Loan Commitments (if not previously delivered to the Agent), and
certifying that none of the organizational documents of such Credit Party delivered to the Agent prior thereto have been modified or altered in any way (or, if modifications have occurred, certifying new copies of such organizational documents),
(iv) delivery to the Agent of an opinion of counsel to the Credit Parties in form and substance and from counsel reasonably satisfactory to the Agent, addressed to the Agent and the Lenders providing the Incremental Revolving Loan Commitments
and covering such matters as the Agent may reasonably request and (v) receipt by the Agent of such new Notes, reaffirmations of guaranties, security agreements and pledge agreements as the Agent may reasonably request, together with amendments
to all mortgages reflecting that the Revolving Loans and Letters of Credit extended pursuant to the Incremental Revolving Loan Commitments are secured pari passu with the Revolving Loan and such endorsements to title policies or additional title
searches as the Agent may reasonably request.” 

 (c) Section 1.18 of the Original Credit Agreement is
amended by (i) re-lettering subsection 1.18(e) as subsection 1.18(f) and (ii) adding a new subsection 1.18(e) to read as follows: 
  

	 	“(e)	Following the effectiveness of any amendment implementing Incremental Revolving Loan Commitments, (i) the Agent is authorized to re-allocate outstanding amounts of
the Revolving Credit Advances by requiring any Lender to provide funds pursuant to (but not in excess of, together with such Lender’s share, if any, of the Revolving Loan) such Lender’s Revolving Loan Commitment (including any Incremental
Revolving Loan Commitment of such Lender), which funds so provided shall be deemed to be Revolving Credit Advances for all purposes of this Agreement, and to remit such funds to other Revolving Lenders, which shall be deemed to be repayments of
Revolving Credit Advances for all purposes of this Agreement, in any case, such that the amounts of outstanding Revolving Credit Advances of all Lenders (after giving effect to the effectiveness of the applicable amendment under subsection 1.18(c)
implementing the Incremental Revolving Loan Commitments and the joinder of the Additional Revolving Lenders to this Agreement) shall be pro rata in accordance with the Revolving Loan Commitments after giving effect to the Incremental Revolving Loan
Commitments, and each Revolving Lender agrees to provide such funds on the Business Day of such request (if such request is made on or prior to noon (Chicago time)) or on the immediately following Business Day (if such request if made after noon
(Chicago time)), and the Borrowers consent to the foregoing re-allocations, and (ii) each Lender, at the request of the Agent, shall acknowledge that its Pro Rata Share of participations in Letters of Credit that are outstanding as of the time
of the increase in the Revolving Loan Commitments pursuant to this Section 1.18 shall be in accordance with the Revolving Loan Commitments after giving effect to the increase to the Revolving Loan Commitments under this Section 1.18, and
any Lender failing to respond to a request for such acknowledgement within five (5) days shall be deemed to have provided such acknowledgement.” 

 (d) Section 3.8 of the Original Credit Agreement is amended by (i) substituting
for the phrase “Senior Unsecured Note Indenture” appearing therein, the phrase “Permitted Senior Unsecured Note Indenture” and (ii) substituting for the phrase “Senior Unsecured Notes” appearing therein, the phrase
“Permitted Senior Unsecured Notes”. 
 (e) Section 3.25 of the Original Credit Agreement is amended and restated
in its entirety to read as follows: 
 “The amount of Permitted Debt that may be incurred under (and as such term is defined
in) the Senior Unsecured Note Indenture pursuant to Section 4.09(b)(1) of the Senior Unsecured Note Indenture is $350,000,000. The amount of “Permitted Debt” that may be incurred under clause (1) of the definition of
“Permitted Debt” in the Permitted Refinancing Senior Unsecured Note Indenture will be, upon execution and delivery thereof, at least $450,000,000. No Net Proceeds of any Asset Sales have been applied to repay any term Indebtedness or
revolving credit Indebtedness under a Credit Facility (and in the case of revolving credit Indebtedness, effecting a corresponding commitment reduction thereunder). As used in this Section 3.25, the defined terms “Credit
Facility”, “Net Proceeds”, “Asset Sale” and “Indebtedness” shall have the meanings provided in the Permitted Senior Unsecured Note Indenture.” 

(f) Section 6.2 of the Original Credit Agreement is amended by substituting for the phrase “Senior Unsecured Notes” each
time such phrase appears therein, the phrase “Permitted Senior Unsecured Notes”. 
 (g) Subsection 6.3(a)(vii) of the
Original Credit Agreement is amended and restated in its entirety to read as follows: 
 “(vii) (x) Until the
consummation of the Permitted Notes Refinancing, Permitted Senior Unsecured Notes of H&E Delaware not exceeding $250,000,000 in aggregate principal amount evidenced by Senior Unsecured Notes (less all payments of principal and repurchases and
redemptions thereof) and (y) from and after the consummation of the Permitted Notes Refinancing, Permitted Refinancing Senior Unsecured Notes not exceeding in aggregate original principal amount the Permitted Notes Amount (less all payments of
principal and repurchases and redemptions thereof).” 
 (h) Subsection 6.3(b) of the Original Credit Agreement is amended
and restated in its entirety to read as follows: 
 “No Credit Party shall, directly or indirectly, voluntarily purchase,
redeem, defease or prepay any principal of, premium, if any, interest or other amount payable in respect of any Indebtedness of a Credit Party, other than (i) the Obligations, (ii) Indebtedness secured by a Permitted Encumbrance if the
asset securing such Indebtedness has been sold or otherwise disposed of in accordance with Sections 6.8(b) or (c), (iii) Indebtedness permitted by subsection 6.3(a)(v) upon any refinancing thereof in accordance with subsection 6.3(a)(v), and
(iv) Indebtedness constituting Permitted Senior Unsecured Notes.” 
 (i) Section 6.14 of the Original Credit
Agreement is amended by (i) deleting the word “and” appearing at the end of subsection 6.14(e); (ii) replacing “.” at the end of subsection 6.14(f) with “;”; and (iii) adding the following subsections
6.14(g) and 6.14(h) thereafter: 

	 	“(g)	a one-time dividend by H&E Delaware in the maximum aggregate amount of the lesser of (x) $250,000,000 and (y) (1) $250,000,000 less (2) the
amount by which $400,000,000 exceeds the aggregate principal amount of Permitted Refinancing Senior Unsecured Notes issued prior to the payment of such dividend; such dividend to be permitted to be paid so long as (A) such dividend is paid on
or after the Amendment No. 2 Effective Date (but not later than the date that is ninety (90) days after the Amendment No. 2 Effective Date) and after the issuance of at least $350,000,000 in the aggregate of Permitted Refinancing
Senior Unsecured Notes, (B) immediately after giving effect to the payment of such dividend and all Revolving Credit Advances made in connection therewith, Borrowing Availability shall be no less than $225,000,000, (C) the Agent shall have
received a non-reliance copy of a solvency opinion delivered to the Board of Directors of H&E Delaware to the effect that H&E Delaware is Solvent after giving effect to the payment of such dividend, the incurrence of the Permitted
Refinancing Senior Unsecured Notes, any Revolving Credit Advances and the application of proceeds thereof and (D) the Agent shall have received a certificate, in form and substance reasonably satisfactory to the Agent, from an Authorized
Officer that the payment of such dividend complies with all applicable laws; and 

  

	 	(h)	repayments of Senior Unsecured Notes as part of the Permitted Notes Refinancing.” 

 

	 	(j)	Section 6.18 of the Original Credit Agreement is amended and restated in its entirety to read as follows: 

 

	 	“(a)	No Credit Party shall change or amend the terms of the Permitted Senior Unsecured Note Indenture or Permitted Senior Unsecured Notes or any Subordinated Debt, in each
case, without the prior written consent of the Requisite Lenders. 

  

	 	(b)	No Credit Party shall designate any credit agreement, credit facility, documents, agreement or indebtedness as a “Credit Facility” under and as such term is
defined in the Permitted Senior Unsecured Note Indenture, as originally in effect, other than, in each case, this Agreement. The Borrowers hereby designate this Agreement and the credit facilities now or hereafter created hereunder as a “Credit
Facility” under and as such term is defined in the Permitted Senior Unsecured Note Indenture. 

  

	 	(c)	No Credit Party shall incur any Indebtedness pursuant to clause (1) or clause (16) of Section 4.09(b) of the Senior Unsecured Note Indenture other than
Indebtedness incurred under this Agreement, and no Credit Party shall incur any Indebtedness pursuant to clause (1) or clause (18) of the definition of “Permitted Debt” in the Permitted Refinancing Senior Unsecured Note Indenture
other than Indebtedness incurred under this Agreement.” 

  

	 	(k)	Section 6.20 of the Original Credit Agreement is amended and restated in its entirety to read as follows: 

“None of H&E Finance or GNE Investments shall engage in any trade or business, or own any assets (other than Stock of its
Subsidiaries) or incur any Indebtedness or Guaranteed Indebtedness (other than the Obligations); provided that (i) H&E Finance may consummate the transactions contemplated by the Permitted Senior Unsecured Note Indenture and
(ii) GNE Investments may provide the guaranty of the Permitted Senior Unsecured Notes as provided for in the Permitted Senior Unsecured Note Indenture.” 

 (l) Exhibit 1.1(a)(i) to the Original Credit Agreement is amended by (i) deleting
“under Section 4.09 of the Senior Unsecured Note Indenture” and (ii) replacing it with “by clause (1) of the definition of “Permitted Debt” in the Permitted Senior Unsecured Note Indenture”. 

(m) A new Exhibit E is hereby added to the Credit Agreement in the form attached hereto as Exhibit E. 

(n) Annex A of the Original Credit Agreement is amended by adding the following new definitions in their proper alphabetical
places: 
 “‘Amendment No. 2’ means Amendment No. 2, dated as of August 9, 2012, among the
Borrowers, the Lenders signatory thereto and the Agent.” 
 “‘Amendment No. 2 Effective Date’
means the Effective Date, as such term is defined in Amendment No. 2.” 
 “‘Description of Notes’
means the Description of Notes in the form attached hereto as Exhibit E. 
 “‘Permitted Notes
Amount’ has the meaning assigned to it in the definition of ‘Permitted Notes Refinancing’.” 

“‘Permitted Notes Refinancing’ means the refinancing on one occasion on or prior to the date that is ninety
(90) days after the Amendment No. 2 Effective Date by H&E Delaware (and those Credit Parties that are obligors in accordance with this Agreement in respect of the Senior Unsecured Notes) pursuant to a refinancing that permanently
retires the Senior Unsecured Notes; provided that each of the following conditions are satisfied: 
 (a)
the aggregate principal amount of the Indebtedness incurred in connection with such Permitted Notes Refinancing shall be no less than $200,000,000 and no greater than $530,000,000 (such amount, the “Permitted Notes Amount”);

 (b) such Indebtedness shall be substantially on the terms described in the Description of Notes, and in any
event shall provide for (i) no amortization prior to the date six months following the Commitment Termination Date and (ii) a final scheduled maturity date that is not prior to the date six months following the Commitment Termination Date;

 (c) the Indebtedness incurred in connection with such refinancing shall be unsecured; and 

(d) the Permitted Refinancing Senior Unsecured Notes, the Indebtedness thereunder incurred in connection with such
refinancing and the retirement of the Senior Unsecured Notes in connection with such refinancing (i) do not contravene any provision of such Credit Party’s certificate of formation, operating agreement, charter or bylaws, as applicable;
(ii) do not violate any law or regulation, or any order or decree of any court or Governmental Authority where such violations individually or in the aggregate could reasonably be expected to have a Material Adverse Effect; (iii) do not
conflict with or result in the breach or termination of, constitute a default under or accelerate or permit the acceleration of any performance required by, any indenture, mortgage, deed of trust, lease, agreement or other instrument to which such
Credit Party is a party or by which such Credit Party or any of its property is bound that alone or in the aggregate could reasonably be expected to have a Material Adverse Effect; (iv) do not result in the creation or imposition of any Lien
upon any of the property of such Credit Party; and (v) do not require the consent or approval of any Governmental Authority or any other Person (other 

 
than the Requisite Lenders), except any such consent or approval as has been obtained or where failure to obtain such consent or approval would not reasonably be expected to have a Material
Adverse Effect, and the Agent shall have received a certificate (in form and substance reasonably satisfactory to the Agent) of an Authorized Officer to such effect.” 
 “‘Permitted Refinancing Senior Unsecured Note Indenture’ means the Indenture, in a form consistent with the Description of Notes and otherwise reasonably satisfactory to the Agent,
pursuant to which the Permitted Refinancing Unsecured Notes are issued, as such Indenture may be amended, modified or supplemented from time to time in accordance with its terms and the terms hereof.” 

“‘Permitted Refinancing Senior Unsecured Notes’ means senior unsecured notes substantially on the terms of the
Description of Notes in the aggregate original principal amount not exceeding the Permitted Notes Amount, issued by H&E Delaware pursuant to the Permitted Notes Refinancing, together with any amendments, modifications, supplements, replacements
or substitutions thereof made or issued in accordance with the terms of the Permitted Refinancing Senior Unsecured Note Indenture and this Agreement.” 
 “‘Permitted Senior Unsecured Note Indenture’ means (i) until the consummation of the Permitted Notes Refinancing, the Senior Unsecured Note Indenture and (ii) from and
after the consummation of the Permitted Notes Refinancing, the Permitted Refinancing Senior Unsecured Note Indenture.” 

“‘Permitted Senior Unsecured Notes’ means (i) until the consummation of the Permitted Notes Refinancing, the
Senior Unsecured Notes and (ii) from and after the consummation of the Permitted Notes Refinancing, the Permitted Refinancing Senior Unsecured Notes.” 
 (o) Annex A of the Original Credit Agreement is amended: 

(i) by deleting clause (iv) of the definition of “Change of Control” therefrom and substituting in its
place the following revised clause (iv): 
 “(iv) a “Change of Control” as such term or any similar term is
defined in the Permitted Senior Unsecured Note Indenture or any agreement governing any Subordinated Debt having an original principal amount in excess of $2,000,000” 

(ii) by deleting clause (d) of the definition of “Commitment Termination Date” therefrom and substituting
in its place the following revised clause (d): 
 “(d) only in the event that at such time the Permitted Senior Unsecured
Notes remain outstanding, the date that is six (6) months prior to the scheduled maturity of the Permitted Senior Unsecured Notes (giving effect to any extension thereof entered into after the Amendment No. 1 Effective Date)”

 (iii) by deleting the definition of “Indenture Debt” therefrom and substituting in its place the
following revised definition: 
 ““Indenture Debt” means Indebtedness under the Permitted Senior Unsecured
Notes or the Permitted Senior Unsecured Note Indenture.” 
 (iv) by deleting the definition of
“Permitted Notes Refinancing Indebtedness” therefrom; 

 (v) by deleting clause (h) of the definition of “Restricted
Payment” therefrom and substituting in its place the following revised clause (h): 
 “(h) any optional payment or
prepayment of principal of the Permitted Senior Unsecured Notes, any payment of a premium or prepayment of interest, fees or other charges on or with respect to the Permitted Senior Unsecured Notes, and any redemption, purchase, retirement,
defeasance, subleasing fund or similar optional payment with respect to the Permitted Senior Unsecured Notes” 
 (vi) by deleting the definition of “Subordinated Debt” therefrom and substituting in its place the following revised definition: 

“Subordinated Debt” means Indebtedness of any Borrower upon terms, and subordinated to the Obligations as to right and
time of payment and as to any other rights and remedies thereunder, in a manner and form satisfactory to the Agent and the Lenders in their sole discretion. For the avoidance of doubt, “Subordinated Debt” shall not include the Permitted
Senior Unsecured Notes. 
 (p) Annex E of the Credit Agreement is amended by deleting clause (h) thereof and
substituting in its place the following revised clause (h): 
  

	 	“(h)	Subordinated Debt, Permitted Senior Unsecured Notes and Equity Notices 

 To the Agent, as soon as practicable, copies of all material written notices given or received by any Credit Party with respect to any Subordinated Debt with an original principal amount in excess of
$2,000,000, the Permitted Senior Unsecured Notes or Stock of such Credit Party, and, within two (2) Business Days after such Credit Party obtains knowledge of any matured or unmatured event of default with respect to any Subordinated Debt with
an original principal amount in excess of $2,000,000 or the Permitted Senior Unsecured Notes, notice of such event of default.” 
 Section 2. 
 CONDITIONS TO EFFECTIVENESS 

The amendments provided in Section 1 hereof shall become effective at the date and time (the “Effective
Date”), which must be on or before September 14, 2012, that: 
 (a) the Agent shall have received one or more
counterparts of (i) this Amendment, executed and delivered by the Borrowers, the Requisite Lenders and the Agent, (ii) the Consent and Reaffirmation in the form of Exhibit I attached hereto, executed and delivered by the Guarantors,
and (iii) the Amendment No. 2 Fee Letter, dated as of the date hereof, between the Borrower Representative and the Agent, executed and delivered by the Borrower Representative and the Agent; 

(b) the Agent shall have received in immediately available funds and without offset or deduction of any kind for the pro rata benefit of
each Lender signatory hereto a non-refundable amendment fee in an amount equal to 0.10% of such Lender’s Revolving Loan Commitment to the Agent for the pro rata benefit of each such Lender (which fees were fully earned and paid on
August 8, 2012); 
 (c) (i) the Agent shall have received Amendment No. 3 to the Credit Agreement in the form of
Exhibit II attached hereto (“Amendment No. 3”), executed and delivered by the Borrowers, the Agent and the Incremental Lenders (as defined therein) and (ii) the other documents, instruments and agreements required
to be provided in connection therewith pursuant to Section 2 thereof; and 

 (d) there shall be no continuing Default or Event of Default (after giving effect to the
amendments contemplated by this Amendment), and the representations and warranties of the Borrowers contained in this Amendment shall be true and correct in all material respects. 

Section 3. 
 LIMITATION ON SCOPE 
 Except as expressly provided herein, the Loan
Documents shall remain in full force and effect in accordance with their respective terms. The amendments set forth herein shall be limited precisely as provided for herein and shall not be deemed to be amendments or waivers of or consents to or
modifications of any term or provision of the Loan Documents or any other document or instrument referred to therein or of any transaction or further or future action on the part of any Credit Party requiring the consent of the Agent or the Lenders
except to the extent specifically provided for herein. The Agent and the Lenders have not and shall not be deemed to have waived any of their respective rights and remedies against any Credit Party for any existing or future Defaults or Events of
Default. 
 Section 4. 
 MISCELLANEOUS 
 (a) Each Borrower hereby represents and warrants as
follows: 
  

	 	(i)	this Amendment has been duly authorized and executed by such Borrower and is the legal, valid and binding obligation of such Borrower, enforceable in accordance with
its terms, except as (1) such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and similar laws affecting the rights of creditors in general and (2) the availability of equitable remedies may
be limited by equitable principles of general applicability; and 

  

	 	(ii)	such Borrower repeats and restates the representations and warranties of such Borrower contained in the Credit Agreement as of the Effective Date, except to the extent
such representations and warranties relate to a specific date; provided that references to the “Credit Agreement” or “this Agreement” in such representations and warranties shall be deemed to be references to the Credit
Agreement as amended pursuant to this Amendment, and to the extent that it shall have become effective, Amendment No. 3. 

 (b) This Amendment is being delivered in the State of New York. 
 (c) Each
Borrower ratifies and confirms that all Loan Documents remain in full force and effect notwithstanding the execution and delivery of this Amendment and that nothing contained in this Amendment shall constitute a defense to the enforcement of any
Loan Document. 
 (d) This Amendment may be executed by the parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed an original, but all of which counterparts together shall constitute but one and the same instrument. 
 (e) This Amendment is a “Loan Document” and each of the following provisions of the Credit Agreement is hereby incorporated herein by this reference with the same effect as though set forth in
its entirety herein, mutatis mutandis, and as if “this Agreement” in any such provision read “this Amendment”: Section 11.6 (Severability), Section 11.9 (Governing Law), Section 11.10 (Notices),

 
Section 11.11 (Electronic Transmissions), Section 11.12 (Section Titles), Section 11.14 (Waiver of Jury Trial), Section 11.17 (Advice of Counsel) and Section 11.18 (No
Strict Construction). 
 (f) The Requisite Lenders hereby agree that Deutsche Bank Trust Company of Americas is a Qualified
Assignee. 
 (g) This Amendment No. 2 supersedes and replaces Amendment No. 2, dated August 6, 2012, to the
Original Credit Agreement that was executed and delivered by and among the Borrowers, the Agent and the Requisite Lenders and such superseded Amendment No. 2 is, upon execution and delivery hereof by the Borrowers, the Agent and the Requisite
Lenders, withdrawn and null and void. 
 [Signature page follows] 

 Witness the due execution of this Amendment by the respective duly authorized officers of
the undersigned as of the date first written above. 
  

			
	H&E EQUIPMENT SERVICES, INC.
		
	By:	 	/s/ Leslie Magee
	Name: Leslie Magee
	Title: Chief Financial Officer
	
	H&E EQUIPMENT SERVICES (CALIFORNIA), LLC
		
	By:	 	/s/ Leslie Magee
	Name: Leslie Magee
	Title: Chief Financial Officer
	
	GREAT NORTHERN EQUIPMENT, INC.
		
	By:	 	/s/ Leslie Magee
	Name: Leslie Magee
	Title: Chief Financial Officer

 
			
	 GENERAL ELECTRIC CAPITAL CORPORATION,
 as Agent and a Lender

		
	By:	 	/s/ Pam Eskra
	Name: Pam Eskra
	Title: Duly Authorized Signatory

 
			
	 BANK OF AMERICA, N.A.,
 as a Lender

		
	By:	 	/s/ Allan R. Juleus
	Name:	 	Allan R. Juleus
	Title:	 	SVP

 
			
	 PNC BANK, NATIONAL ASSOCIATION,
 as a Lender

		
	By:	 	/s/ Brian Rujawitz
	Name:	 	Brian Rujawitz
	Title:	 	SVP

 
			
	 WELLS FARGO CAPITAL FINANCE, LLC,
 as a Lender

		
	By:	 	/s/ Todd Havomote
	Name:	 	Todd Havomote
	Title:	 	Senior Relationship Manager

 
			
	 REGIONS BANK,

as a Lender

		
	By:	 	/s/ George Louis McKinley
	Name:	 	George Louis McKinley
	Title:	 	Attorney in Fact

 
			
	 CAPITAL ONE LEVERAGE FINANCE CORP.,
 as a Lender

		
	By:	 	/s/ Thomas F. Furst
	Name:	 	Thomas F. Furst
	Title:	 	Vice President

 
			
	 JPMORGAN CHASE BANK, N.A.,
 as a Lender

		
	By:	 	/s/ Mario Quintanilla
	Name:	 	Mario Quintanilla
	Title:	 	Authorized Officer

 EXHIBIT I 
 CONSENT AND REAFFIRMATION 
 Each of the undersigned (the
“Guarantors”) hereby (i) acknowledges receipt of a copy of Amendment No. 2, dated as of August 9, 2012 (“Amendment No. 2”), to the Third Amended and Restated Credit Agreement, dated as of
July 29, 2010, among H&E Equipment Services, Inc., Great Northern Equipment, Inc., H&E Equipment Services (California), LLC (collectively, the “Borrowers”), the other Credit Parties named therein, the Lenders named
therein, General Electric Capital Corporation, as Agent, Bank of America, N.A., as Co-Syndication Agent and Documentation Agent, and Wells Fargo Capital Finance, LLC, as Co-Syndication Agent; (ii) consents to the Borrowers’ execution and
delivery thereof and approves and consents to the transactions contemplated thereby; (iii) agrees to be bound thereby; and (iv) affirms that nothing contained therein shall modify or diminish in any respect whatsoever its obligations under
its Guaranty and the other Loan Documents to which it is a party and reaffirms that such Guaranty is and shall continue to remain in full force and effect. The acknowledgements contained herein by the Guarantors are made and delivered to induce the
Agent and the Lenders to enter into Amendment No. 2, and the Guarantors acknowledge that the Agent and the Lenders would not enter into Amendment No. 2 in the absence of such acknowledgements. Although the Guarantors have been informed of
the matters set forth herein and have acknowledged and agreed to same, the Guarantors understand that the Agent and the Lenders have no obligation to inform the Guarantors of such matters in the future or to seek the Guarantors’ acknowledgment
or agreement to future amendments or waivers, and nothing herein shall create such a duty. Capitalized terms used herein without definition shall have the meanings given to such terms in Amendment No. 2. 

[Signature page follows] 

 IN WITNESS WHEREOF, the undersigned have executed this Consent and Reaffirmation on and as
of the date of Amendment No. 2. 
  

			
	GNE INVESTMENTS, INC.
		
	By:	 	/s/ Leslie Magee
	Name: Leslie Magee
	Title: Chief Financial Officer
	
	H&E FINANCE CORP.
		
	By:	 	/s/ Leslie Magee
	Name: Leslie Magee
	Title: Chief Financial Officer
	
	H&E CALIFORNIA HOLDING, INC.
		
	By:	 	/s/ Leslie Magee
	Name: Leslie Magee
	Title: Chief Financial Officer
	
	H&E EQUIPMENT SERVICES (MID-ATLANTIC), INC.
		
	By:	 	/s/ Leslie Magee
	Name: Leslie Magee
	Title: Chief Financial Officer

 EXHIBIT II 
 AMENDMENT NO. 3 
 [Attached] 

 EXHIBIT E 
 DESCRIPTION OF NOTES 
 [Attached]

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