Document:

Exhibit 10.1

 

FOURTH AMENDMENT TO

STANDSTILL AGREEMENT

 

This Fourth Amendment to Standstill Agreement
(this “Amendment”) is effective as of August 9, 2018 by and between Perceptron, Inc., a Michigan corporation (the
Company”) and Harbert Discovery Fund LP, Harbert Discovery Fund GP, LLC, Harbert Fund Advisors Inc. and Harbert Management
Corporation (collectively, the “Holders”). Capitalized terms not otherwise defined herein have the meanings set forth
in the Agreement (as defined below).

 

RECITALS

 

WHEREAS, the Company and the Holders are parties
to that certain Standstill Agreement dated as of August 9, 2016, as amended by the First Amendment to Standstill Agreement dated
as of November 17, 2016, the Second Amendment to Standstill Agreement dated as of May 31, 2017 and the Third Amendment to
Standstill Agreement dated as of December 18, 2017 (the “Agreement”); and

 

WHEREAS, the parties wish to further amend the
Agreement as set forth herein.

 

AGREEMENTS

 

NOW, THEREFORE, in consideration of the mutual
promises contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged,
the parties agree as follows:

 

1.            Section 9(a) of the Agreement shall be amended and restated to read as follows:

 

(a)       This
Agreement is effective as of the date hereof and shall remain in full force and effect for the period (the “Covered Period”)
commencing on the date hereof and ending on the earlier of (i) date that is thirty (30) days prior to the deadline for a shareholder
to submit nominations at the 2019 Annual Meeting of the Shareholders of Perceptron in accordance with the provisions set forth
in Perceptron’s Bylaws in effect at such time, or (ii) the termination of this Agreement as set forth in Section 9(b)(ii).

 

2.            If there is any inconsistency or ambiguity between this Amendment and the Agreement, this Amendment shall control in all respects.

 

3.            Except as is specifically set forth in this Amendment, the remaining provisions of the Agreement are not otherwise modified or
amended, and all such provisions of the Agreement shall remain in full force and effect.

 

4.            This Amendment may be executed in as many counterparts as may be deemed necessary and convenient, and by the different parties
hereto on separate counterparts, and each of which, when so executed, shall be deemed an original, and all such counterparts shall
constitute one and the same instrument.

 

[Signature Page Follows]

 

    	 	1	 

     

    

 

IN WITNESS WHEREOF, the parties have executed
this Amendment as of the date set forth above.

 

	 	Perceptron, Inc.	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ David L. Watza	 
	 	Name: David L. Watza	 
	 	Title: President and Chief Executive Officer
	 	 	 	 
	 	 	 	 
	 	HARBERT DISCOVERY FUND, LP
	 	By:  Harbert Discovery Fund GP, LLC
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ Kevin A. McGovern	 
	 	Name:  Kevin A. McGovern	 
	 	Title:   Vice President and Associate General Counsel
	 	 	 	 
	 	 	 	 
	 	HARBERT DISCOVERY FUND, GP, LLC
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ Kevin A. McGovern	 
	 	Name:  Kevin A. McGovern	 
	 	Title:   Vice President and Associate General Counsel
	 	 	 	 
	 	 	 	 
	 	HARBERT FUND ADVISORS, INC.
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ John W. McCullough	 
	 	Name:  John W. McCullough	 
	 	Title:   Executive Vice President and General Counsel
	 	 	 	 
	 	HARBERT MANAGEMENT CORPORATION
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ John W. McCullough	 
	 	Name:  John W. McCullough	 
	 	Title:   Executive Vice President and General Counsel

 

 

 

 

2Exhibit 10.2

 

FOURTH AMENDMENT TO

VOTING AGREEMENT

 

This Fourth Amendment to Voting Agreement (this
“Amendment”) is effective as of August 9, 2018 by and between Perceptron, Inc., a Michigan corporation (the Company”)
and Moab Partners, L.P. and Moab Capital Partners, LLC (collectively, the “Holders”). Capitalized terms not otherwise
defined herein have the meanings set forth in the Agreement (as defined below).

 

RECITALS

 

WHEREAS, the Company and the Holders are parties
to that certain Voting Agreement dated as of August 9, 2016, as amended by the First Amendment to Voting Agreement dated as of
November 17, 2016, the Second Amendment to Voting Agreement dated as of May 31, 2017 and the Third Amendment to Voting Agreement
dated as of December 18, 2017 (the “Agreement”);

 

WHEREAS, the term of the Agreement is tied to
the term of a certain Standstill Agreement dated as of August 9, 2016, as amended by the First Amendment to Standstill Agreement
dated as of November 17, 2016, the Second Amendment to Standstill Agreement dated as of May 31, 2017 and the Third Amendment to
Standstill Agreement dated as of December 18, 2017 (the “Standstill Agreement”) and whereas the Standstill Agreement
is being extended pursuant to a Fourth Amendment to Standstill Agreement and therefore the term of the Agreement is being extended
for a co-terminus period; and

 

WHEREAS, the parties wish to further amend the
Agreement as set forth herein.

 

AGREEMENTS

 

NOW, THEREFORE, in consideration of the mutual
promises contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged,
the parties agree as follows:

 

1.            Section 8 of the Agreement shall be amended and restated to read as follows:

 

8. Termination. This Agreement
is effective as of the date hereof and shall remain in full force and effect until the termination of the Standstill Agreement,
as amended by the Fourth Amendment to Standstill Agreement (the “Covered Period”).

 

2.            If there is any inconsistency or ambiguity between this Amendment and the Agreement, this Amendment shall control in all respects.

 

3.            Except as is specifically set forth in this Amendment, the remaining provisions of the Agreement are not otherwise modified or
amended, and all such provisions of the Agreement shall remain in full force and effect.

 

4.            This Amendment may be executed in as many counterparts as may be deemed necessary and convenient, and by the different parties
hereto on separate counterparts, and each of which, when so executed, shall be deemed an original, and all such counterparts shall
constitute one and the same instrument.

 

[Signature Page Follows]

 

    	 	1	 

     

    

 

IN WITNESS WHEREOF, the parties have executed
this Amendment as of the date set forth above.

 

	 	Perceptron, Inc.	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s David L. Watza	 
	 	Name: David L. Watza	 
	 	Title: President and Chief Executive Officer
	 	 	 	 
	 	 	 	 
	 	MOAB PARTNERS, L.P.	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ Michael Rothenberg	 
	 	Name:  Michael Rothenberg	 
	 	Title:    General Partner of Moab GP LLC the
	 	            General Partner of Moab Partners, LP
	 	 	 	 
	 	 	 	 
	 	MOAB CAPITAL PARTNERS, LLC
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ Michael Rothenberg	 
	 	Name:  Michael Rothenberg	 
	 	Title:    President	 

 

 

2Exhibit 10.3

 

AMENDMENT TO JOINDER AGREEMENT

 

This Amendment to Joinder Agreement (the “Agreement”),
dated as of August 9, 2018, is delivered pursuant to the Non-Disclosure Agreement (the “Confidentiality Agreement”),
dated August 9, 2016, by and between Perceptron, Inc. (the “Company”), Harbert Discovery Fund LP, Harbert Discovery
Fund GP, LLC, Harbert Fund Advisors Inc., Harbert Management Corporation and the undersigned. Capitalized terms not otherwise defined
herein have the meaning set forth in the Standstill Agreement (the “Standstill Agreement”), dated August 9, 2016, by
and between the Company, Harbert Discovery Fund LP, Harbert Discovery Fund GP, LLC, Harbert Fund Advisors, Inc., and Harbert Management
Corporation, as amended by the First Amendment to Standstill Agreement dated as of November 17, 2016, the Second Amendment to Standstill
Agreement dated as of May 31, 2017, the Third Amendment to Standstill Agreement dated as of December 18, 2017 and the Fourth Amendment
to Standstill Agreement dated as for August 9, 2018.

 

By executing and delivering this Agreement,
the undersigned hereby agrees to remain a party to the Standstill Agreement and to remain fully bound by, and subject to, all of
the covenants, terms and conditions of the Standstill Agreement as amended, as though an original party to such agreement and shall
be deemed a Holders Director for all purposes of such agreement.

 

 

 

	 	/s/ John F. Bryant	 
	 	John F. BryantExhibit 10.4

 

AMENDMENT TO JOINDER AGREEMENT

 

This Amendment to Joinder Agreement (the “Agreement”),
dated as of August 9, 2018, is delivered pursuant to the Non-Disclosure Agreement (the “Confidentiality Agreement”),
dated August 9, 2016, by and between Perceptron, Inc. (the “Company”), Harbert Discovery Fund LP, Harbert Discovery
Fund GP, LLC, Harbert Fund Advisors Inc., Harbert Management Corporation and the undersigned. Capitalized terms not otherwise defined
herein have the meaning set forth in the Standstill Agreement (the “Standstill Agreement”), dated August 9, 2016, by
and between the Company, Harbert Discovery Fund LP, Harbert Discovery Fund GP, LLC, Harbert Fund Advisors, Inc., and Harbert Management
Corporation, as amended by the First Amendment to Standstill Agreement dated as of November 17, 2016, the Second Amendment to Standstill
Agreement dated as of May 31, 2017, the Third Amendment to Standstill Agreement dated as of December 18, 2017 and the Fourth Amendment
to Standstill Agreement dated as for August 9, 2018.

 

By executing and delivering this Agreement,
the undersigned hereby agrees to remain a party to the Standstill Agreement and to remain fully bound by, and subject to, all of
the covenants, terms and conditions of the Standstill Agreement as amended, as though an original party to such agreement and shall
be deemed a Holders Director for all purposes of such agreement.

 

 

 

	 	/s/ James A. Ratigan	 
	 	James A. Ratigan

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