Document:

Long Term Incentive Plan

 Exhibit 10.51 
 SEATTLE GENETICS, INC. 
 LONG TERM INCENTIVE PLAN 
 Effective Date: March 11, 2010 
 1. PURPOSE.
This Seattle Genetics, Inc. Long Term Incentive Plan (the “Plan”) is intended to increase stockholder value and the success of the Company by retaining and motivating selected Participants to achieve the Company’s
objectives. The Plan goals are to be achieved by providing such Participants with either cash or cash and stock incentive award opportunities, where payment of the actual Awards shall be based on FDA approval of a product candidate, brentuximab
vedotin, developed by the Company. The Plan is intended to permit the grant of Stock Awards that may qualify as “performance-based compensation” within the meaning of Section 162(m) of the Code. Capitalized terms used but not
otherwise defined herein shall have the meanings set forth in Section 2 of the Plan. 
 2. DEFINITIONS.

 (a) “Award” shall mean a Cash Award or a Stock Award that may be earned by
a Participant under the Plan. 
 (b) “Actual Award Value” shall have the meaning
set forth in Section 6 of the Plan. 
 (c) “Board” shall mean the Board of
Directors of the Company. 
 (d) “Brentuximab Vedotin NDA” means a New Drug
Application for the sale and marketing of brentuximab vedotin in the United States. 
 (e)
“Cash Award” shall mean a cash bonus payment paid out on the Payout Date. 
 (f)
“Certification Date” shall have the meaning set forth in Section 6(a) of the Plan. 
 (g) “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (h) “Committee” shall mean the Compensation Committee of the Board or such other committee of the Board that has been designated to administer programs intended to qualify as “performance-based
compensation” within the meaning of Section 162(m). 
 (i) “Common
Stock” shall mean the common stock of the Company. 
 (j) “Company”
shall mean Seattle Genetics, Inc., a Delaware corporation. 
 (k) “Covered
Employee” shall have the meaning ascribed to such term in Section 162(m)(3) of the Code. 

 (l) “Eligible Employee” means all employees
of the Company other than Field Sales staff below the level of Vice President, Sales. 
 (m)
“Equity Incentive Plan” shall mean the Seattle Genetics, Inc. Amended and Restated 2007 Equity Incentive Plan, as may be amended from time to time. 
 (n) “FDA” means the U.S. Food and Drug Administration. 
 (o) “FDA Milestone” means approval of brentuximab vedotin for sale and marketing by the FDA.

 (p) “FDA Milestone Date” shall mean the date that the FDA approves brentuximab
vedotin for sale and marketing. 
 (q) “FDA Submission Date” shall mean the date
that the Company submits the Brentuximab Vedotin NDA with the FDA. 
 (r)
“Participant” shall mean an Eligible Employee in good standing as of the applicable date who meets the eligibility requirements described in Section 4 of the Plan. 
 (s) “Payout Matrix” means, with respect to a Cash Award or a Stock Award, the matrix
established by the Committee in order to determine the actual Awards (if any) to be paid to Participants, expressed as a percentage (which may be more than 100% but is capped at 110%) of the Target Award Value. 
 (t) “Payout Date” means the date on which Awards are paid pursuant to Section 7(a) of the
Plan. 
 (u) “Performance-Based Compensation” means compensation that is intended
to qualify as “performance-based compensation” within the meaning of Code section 162(m). 
 (v)
“Performance Period” shall mean the period of time from the Effective Date until December 31, 2012. 
 (w) “Section 162(m)” shall mean Section 162(m) of the Code, as well as any applicable regulations and guidance thereunder. 
 (x) “Stock Award” shall mean an award issued under the Equity Incentive Plan of restricted
shares of Common Stock or restricted stock units, as determined by the Committee in its sole discretion on the Payout Date, which grant shall be made on the Payout Date and subject to the terms of the Plan and the Equity Incentive Plan. 

(y) “Target Award Value” shall mean the target value of a Cash Award or a Stock Award
payable to a Participant, expressed as a specific dollar amount, as determined by the Committee. 
 (z)
“Vesting Date” shall have the meaning set forth in Section 4(c) of the Plan. 

 3. ADMINISTRATION. The Plan shall be administered by the
Committee consisting of at least two outside directors of the Company who satisfy the requirements of Section 162(m) of the Code. The Committee shall have full authority to make rules and establish administrative procedures in connection with
the Plan, to interpret the Plan and those rules and procedures, to determine each Participant’s Target Award Values and maximum Awards, to approve the granting of, or the payment of, as applicable, all of the Awards, and to make all other
determinations, including factual determinations, and to take all other actions necessary or appropriate for the proper administration of the Plan, including the delegation of such authority or power, where appropriate and consistent with applicable
law; provided, however, that with respect to Covered Employees, the Committee shall have final decision-making authority. All decisions, determinations, and interpretations by the Committee shall be final and binding on the
Company and all Participants. 
 4. Eligibility and Participation 
 (a) In General. Absent any determination by the Committee to the contrary, each Eligible Employee as of
March 31, 2010 shall automatically be deemed a Participant. 
 (b) Prorated Participation for New
Hires. Absent any determination by the Committee to the contrary, each Employee who is newly hired after March 31, 2010 and before the FDA Submission Date and qualifies as an Eligible Employee shall automatically be deemed a Participant and
shall be eligible to participate in the Plan for the portion of the period beginning with such individual’s first day of employment until the FDA Submission Date. The Target Award Values applicable to such newly hired Participant shall be
automatically prorated based on such individual’s first day of employment. 
 (c)
Continued Employment; Vesting on Stock Awards. A Participant must be actively employed by the Company on the Payout Date to be eligible to receive an Award under the Plan. All Cash Awards will be fully vested on the Payment Date, subject to
continued employment with the Company through such date. All Stock Awards issued to Participants on the Payout Date shall be unvested, and shall fully vest on the second (2nd) anniversary of the FDA Milestone Date (the “Vesting Date”), subject to continued
employment with the Company through such date. 
 5. DETERMINATION OF TARGET
AWARD VALUE AND PAYOUT MATRIX 
 (a) In General. Each Participant shall be eligible to earn Awards under the Plan consisting of either a Cash Award or a Cash Award and a Stock Award, as determined in the sole discretion of the Committee. No later than ninety
(90) days following the Effective Date, the Committee shall establish (i) a matrix containing Target Award Values for each Cash Award and (if applicable) Stock Award for each job level tier of Participants, and (ii) a Payout Matrix,
which may provide for payment of an Award in an amount greater than or less than the Participant’s Target Award Value, as determined based on when the FDA Milestone is achieved. 

 (b) Section 162(m) Requirements for Stock Awards 
 (i) Stock Awards to Covered Employees Subject to Stockholder Approval. Notwithstanding any other provision of
the Plan, all Stock Awards to Covered Employees under the Plan shall be subject to the approval by the Company’s stockholders of an amendment to the Equity Incentive Plan at the annual stockholder meeting for the Company that occurs in 2010,
and in all cases prior to the FDA Milestone Date. The amendment will include, among other things, the addition of the FDA approval of brentuximab vedotin and/or any other product candidate as a “Qualifying Performance Criteria” in
accordance with Section 162(m) of the Code. In the event that the Company’s stockholders do not approve such an amendment to the Equity Incentive Plan prior to the FDA Milestone Date, then no Stock Awards shall be issued to Covered
Employees pursuant to the Plan. 
 (ii) Maximum Stock Award. As required by Section 3(b) of
the Equity Incentive Plan and in accordance with Section 162(m) of the Code, in no event may a Stock Award be granted under the Plan to a Participant who is a Covered Employee such that the number of shares of Common Stock subject to such Stock
Award would exceed, together with any other equity awards issued under the Equity Incentive Plan that are intended to be Performance-Based Compensation, 1,000,000 shares of Common Stock in the applicable calendar year. 
 (c) Changes to Awards 
 (i) Prorated Increase for Promotions. Except with respect to Stock Awards granted under the Plan to a Participant who is a Covered Employee, if a Participant is promoted after March 31, 2010,
but prior to the FDA Submission Date to a position with higher Target Award Value(s), then such Participant’s Target Award Values shall be increased by a prorated amount (based on the effective date of such individual’s promotion through
the FDA Submission Date). In addition, except with respect to Stock Awards granted under the Plan to a Participant who is a Covered Employee, prior to the determination of Actual Award Values, the Committee may otherwise increase the Target Award
Value of any Participant to reflect a change in the Participant’s responsibility level or position prior to the FDA Submission Date. 
 (ii) Other Adjustments. Except with respect to Stock Awards granted under the Plan to a Participant who is a Covered Employee, at any time prior to the determination of Actual Award Values,
the Committee may adjust the Target Award Value(s) of any Participant or the Payout Matrix (i) to respond to, or in anticipation of, any unusual or extraordinary event or development in connection with the FDA submission of the Brentuximab
Vedotin NDA; or (ii) to respond to, or in anticipation of, changes in applicable laws, regulations, or business conditions. 
 6. DETERMINATION OF AWARD PAYMENTS 
 (a) Certification and Calculation of Actual Award Values. The Committee shall certify in writing (which may be by approval of the minutes in which the certification was made) whether the FDA Milestone has been
achieved as soon as administratively practicable after the earlier of (i) the end of the Performance Period and (ii) the FDA Milestone Date (such date, the “Certification Date”). The actual Awards earned by each
Participant shall be determined by multiplying (x) the applicable percentage in the Payout Matrix based on the FDA Milestone Date by (y) the Participant’s Target Award Values for such Participant’s Cash Award and/or Stock Award
(as applicable) to arrive at an “Actual Award Value” for such Cash Award and/or Stock Award. 

 (b) Negative Discretion. Notwithstanding a determination by
the Committee that the FDA Milestone has been satisfied, the Committee shall nevertheless have discretion to reduce the Actual Award Value for any Participant’s Cash Award and/or Stock Award (as applicable) below which otherwise would be
payable under the Payout Matrix based on individual performance as it considers appropriate in the circumstances, and may apply subjective, discretionary criteria for this purpose. 
 7. PAYMENT OF AWARDS 
 (a) Time of Payment. Subject to Section 4(c) of the Plan, payment of Cash Awards and granting of Stock
Awards to Participants shall be made as soon as administratively practicable following the Certification Date, and no later than March 15 of the year following the year in which the Certification Date occurs. 
 (b) Form of Payment of Stock Awards. The Committee shall have the discretion to grant the Stock Awards in the
form of (i) unvested Stock Units (as defined in the Equity Incentive Plan), (ii) shares of unvested Common Stock, or (iii) a combination of the foregoing. Payroll and other taxes shall be withheld as determined by the Company. The
number of shares underlying the Stock Award will be determined by dividing (a) the Actual Award Value for such Stock Award by (b) the closing price of the Common Stock on the trading day immediately prior to the FDA Milestone Date. If the
Participant terminates employment prior to the Vesting Date, then all unvested shares subject to a Stock Award will be forfeited. Stock Awards will be granted pursuant to a form of restricted stock unit agreement or restricted stock agreement (as
applicable) under the Equity Incentive Plan. 
 8. NO RIGHT TO
EMPLOYMENT OR AWARD. Selection to participate in the Plan shall not confer upon any employee any right with respect to continued employment by the Company or continued
participation in the Plan. Furthermore, the Company reaffirms its at-will relationship with its employees and expressly reserves the right at any time to terminate the employment of a Participant free from any liability or claim for benefits
pursuant to the Plan, except as provided under this Plan or other written plan adopted by the Company or written agreement between the Company and the Participant. 
 9. DISCRETION OF COMPANY AND COMMITTEE. Any decision made or action taken by the
Company or by the Committee arising out of or in connection with the creation, amendment, construction, administration, interpretation or effect of the Plan shall be within the sole and absolute discretion of the Company or the Committee, as the
case may be, and shall be conclusive and binding upon all persons. To the maximum extent possible, no member of the Committee shall have any liability for actions taken or omitted under the Plan by such member or any other person. 
 10. NO FUNDING OF PLAN. The Company
shall not be required to fund or otherwise segregate any cash or any other assets which may at any time be paid to Participants under the Plan. The Plan shall constitute an “unfunded” plan of the Company. The Company shall not, by any
provisions of the Plan, be deemed to be a trustee of any property, and any rights of any Participant shall be no greater than those of a general unsecured creditor or stockholder of the Company, as the case may be. 

 11. NON-TRANSFERABILITY OF
BENEFITS AND INTERESTS. Except as expressly provided by the Committee, no benefit payable under the Plan shall be subject in any manner to anticipation, alienation, sale,
transfer, assignment, pledge, encumbrance or charge, any such attempted action shall be void, and no such benefit shall be in any manner liable for or subject to debts, contracts, liabilities, engagements or torts of any Participant. This
Section 11 shall not apply to an assignment of a contingency or payment due (i) after the death of a Participant to the deceased Participant’s legal representative or beneficiary, or (ii) after the disability of a Participant to
the disabled Participant’s personal representative. 
 12. GOVERNING LAW. All
questions pertaining to the construction, regulation, validity and effect of the provisions of the Plan shall be determined in accordance with the laws of the State of Washington. 
 13. NON-EXCLUSIVITY. The Plan does not limit the authority of the Company, the Board or the
Committee, or any current or future subsidiary of the Company to grant awards or authorize any other compensation to any person under any other plan or authority, other than that specifically prohibited herein. 
 14. SECTION 162(M) CONDITIONS; BIFURCATION OF
PLAN. It is the intent of the Company that the Plan, and all payments of Stock Awards made hereunder, satisfy and be interpreted in a manner that in the case of Participants who are Covered Employees qualify as Performance-Based
Compensation. Any provision, application or interpretation of the Plan inconsistent with this intent to satisfy the requirements of Section 162(m) of the Code shall be disregarded. However, notwithstanding anything to the contrary in the Plan,
the provisions of the Plan may at any time be bifurcated by the Board or the Committee in any manner so that certain provisions of the Plan (or required in order) to satisfy the applicable requirements of Section 162(m) of the Code are only
applicable to Covered Employees. 
 15. AMENDMENT OR TERMINATION. The
Board of Directors of the Company and the Committee each reserve the right at any time to make any changes in the Plan as it may consider desirable or may suspend, discontinue or terminate the Plan at any time.Exhibit 4.2

 Exhibit 4.2 
 SUBSIDIARY GUARANTY 
 SUBSIDIARY GUARANTY dated as of
March 12, 2010 made by The Black & Decker Corporation, a Maryland corporation (the “Guarantor”), in favor of the Administrative Agent and the Lenders (as defined in the Credit Agreement referred to below). 
 PRELIMINARY STATEMENT. Stanley Black & Decker, Inc. (formerly known as The Stanley Works), a Connecticut corporation (the
“Company”), and the parent company of the Guarantor, is party to an Amended and Restated Credit Agreement dated as of February 27, 2008, and Amendment No. 1 thereto dated as of February 17, 2009 (such Credit
Agreement, as so amended, the “Credit Agreement”; capitalized terms used herein have the meanings assigned to such terms in the Credit Agreement). The Guarantor may receive, directly or indirectly, a portion of the proceeds of the
Advances under the Credit Agreement and will derive substantial direct and indirect benefits from the transactions contemplated by the Credit Agreement. It is a condition precedent to the effectiveness of Amendment No. 2 to the Credit Agreement
dated as of the date hereof (the “Amendment”) and the continued making of Advances by the Lenders under the Credit Agreement from time to time that the Guarantor shall have executed and delivered this Guaranty. 
 NOW, THEREFORE, in consideration of the premises and in order to induce the Lenders to enter into the Amendment and to make Advances under
the Credit Agreement from time to time, the Guarantor hereby agrees as follows: 
 SECTION 1. Guaranty; Limitation of
Liability. (a)    To induce the other parties to enter into the Amendment and for other valuable consideration, receipt of which is hereby acknowledged, the Guarantor hereby unconditionally and irrevocably guarantees to the
Administrative Agent, each Lender and their respective successors and permitted assigns the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of the principal of and interest on the Advances to and the
Notes of each other Loan Party and all other amounts whatsoever now or hereafter payable or becoming payable by each other Loan Party under the Credit Agreement and each other Loan Document, in each case strictly in accordance with the terms thereof
(collectively, the “Guaranteed Obligations”). The Guarantor hereby further agrees that if any other Loan Party shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any of the Guaranteed
Obligations, the Guarantor will promptly pay the same, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due
(whether at extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal. This Section 1 is a continuing guaranty and is a guaranty of payment and is not merely a guaranty of collection and
shall apply to all Guaranteed Obligations whenever arising. 
 (b)    The Guarantor, and by its acceptance
of this Guaranty, the Administrative Agent and each Lender, hereby confirms that it is the intention of all such Persons that this Guaranty and the obligations of the Guarantor hereunder not constitute a fraudulent transfer or conveyance for
purposes of any bankruptcy law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar foreign, federal or state law to the extent

 
applicable to this guaranty and the obligations of the Guarantor hereunder. To effectuate the foregoing intention, the Administrative Agent, the Lenders and the Guarantor hereby irrevocably agree
that the obligations of the Guarantor under this Guaranty at any time shall be limited to the maximum amount as will result in the obligations of the Guarantor under this Guaranty not constituting a fraudulent transfer or conveyance. 
 SECTION 2. Acknowledgments, Waivers and Consents. The Guarantor agrees that its obligations under this Guaranty shall be primary,
absolute, irrevocable and unconditional under any and all circumstances and that the guaranty herein is made with respect to any Guaranteed Obligations now existing or in the future arising. Without limiting the foregoing, the Guarantor agrees that:

 (a)    The occurrence of any one or more of the following shall not affect the
enforceability or effectiveness of this Guaranty in accordance with its terms or affect, limit, reduce, discharge or terminate the liability of the Guarantor, or the rights, remedies, powers and privileges of the Administrative Agent or any Lender,
under this Guaranty: 
 (i)    any modification or amendment (including by way of amendment,
extension, renewal or waiver), or any acceleration or other change in the time for payment or performance of the terms of all or any part of the Guaranteed Obligations or any Loan Document, or any other agreement or instrument whatsoever relating
thereto, or any modification of the Commitments; 
 (ii)    any release, termination, waiver,
abandonment, lapse or expiration, subordination or enforcement of the liability of any other guaranty of all or any part of the Guaranteed Obligations; 
 (iii)    any application of the proceeds of any other guaranty (including the obligations of any other guarantor of all or any part of the Guaranteed Obligations) to all or any
part of the Guaranteed Obligations in any such manner and to such extent as the Administrative Agent may determine; 
 (iv)    any release of any other Person (including any other guarantor with respect to all or any part of the Guaranteed Obligations) from any personal liability with respect to all or any part of the Guaranteed
Obligations; 
 (v)    any settlement, compromise, release, liquidation or enforcement, upon
such terms and in such manner as the Administrative Agent may determine or as applicable law may dictate, of all or any part of the Guaranteed Obligations or any other guaranty of (including any letter of credit issued with respect to) all or
any part of the Guaranteed Obligations; 
 (vi)    the giving of any consent to the merger or
consolidation of, the sale of substantial assets by, or other restructuring or termination of the corporate existence of, any other Loan Party or any other Person or any disposition of any shares of any Loan Party; 
  

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 (vii)    any proceeding against any other Loan Party or
any other guarantor of all or any part of the Guaranteed Obligations or any collateral provided by any other Person or the exercise of any rights, remedies, powers and privileges of the Administrative Agent and the Lenders under the Loan Documents
or otherwise in such order and such manner as the Administrative Agent may determine, regardless of whether the Administrative Agent or the Lenders shall have proceeded against or exhausted any collateral, right, remedy, power or privilege before
proceeding to call upon or otherwise enforce this Guaranty; 
 (viii)    the entering into
such other transactions or business dealings with any other Loan Party, any Subsidiary or affiliate thereof or any other guarantor of all or any part of the Guaranteed Obligations as the Administrative Agent or any Lender may desire; or 

(ix)    all or any combination of any of the actions set forth in this Section 2(a). 

(b)    The enforceability and effectiveness of this Guaranty and the liability of the Guarantor, and
the rights, remedies, powers and privileges of the Administrative Agent and the Lenders, under this Guaranty shall not be affected, limited, reduced, discharged or terminated, and the Guarantor hereby expressly waives to the fullest extent permitted
by law any defense now or in the future arising, by reason of: 
 (i)    the illegality,
invalidity or unenforceability of all or any part of the Guaranteed Obligations, any Loan Document or any other agreement or instrument whatsoever relating to all or any part of the Guaranteed Obligations; 
 (ii)    any disability or other defense with respect to all or any part of the Guaranteed Obligations,
including the effect of any statute of limitations that may bar the enforcement of all or any part of the Guaranteed Obligations or the obligations of any other guarantor of all or any part of the Guaranteed Obligations; 
 (iii)    the illegality, invalidity or unenforceability of any security for or other guaranty (including
any letter of credit) of all or any part of the Guaranteed Obligations or the lack of perfection or continuing perfection or failure of the priority of any Lien on any collateral for all or any part of the Guaranteed Obligations; 
 (iv)    the cessation, for any cause whatsoever, of the liability of any other Loan Party or any other
guarantor with respect to all or any part of the Guaranteed Obligations (other than, subject to Section 3, by reason of the full payment of all Guaranteed Obligations); 
 (v)    any failure of the Administrative Agent or any Lender to marshal assets in favor of any other Loan
Party or any other Person (including any other guarantor of all or any part of the Guaranteed Obligations), to exhaust any collateral for all or any part of the Guaranteed Obligations, to pursue or exhaust any right, remedy, power or privilege it
may have against such other Loan Party or any other guarantor of all or any part of the Guaranteed Obligations or any other Person or to take any action whatsoever to mitigate or reduce such or any other Person’s liability, the Administrative
Agent and the Lenders

  

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being under no obligation to take any such action notwithstanding the fact that all or any part of the Guaranteed Obligations may be due and payable and that such other Loan Party may be in
default of its obligations under any Loan Document; 
 (vi)    any counterclaim, set-off or
other claim which any other Loan Party or any other guarantor of all or any part of the Guaranteed Obligations has or claims with respect to all or any part of the Guaranteed Obligations, or any counterclaim, set-off or other claim which the
Guarantor may have with respect to all or any part of any obligations owed to the Guarantor by the Administrative Agent or any Lender (other than, without prejudice to Section 3, any counterclaim or other claim that the amount of the Guaranteed
Obligation which is being claimed has been finally paid in full); 
 (vii)    any failure of
the Administrative Agent or any Lender or any other Person to file or enforce a claim in any bankruptcy or other proceeding with respect to any Person; 
 (viii)    any bankruptcy, insolvency, reorganization, winding-up or adjustment of debts, or appointment of a custodian, liquidator or the like of it, or similar proceedings commenced
by or against any Person, including any discharge of, or bar or stay against collecting, all or any part of the Guaranteed Obligations (or any interest on all or any part of the Guaranteed Obligations) in or as a result of any such proceeding;

 (ix)    any action taken by the Administrative Agent or any Lender that is authorized
under this Guaranty or by any other provision of any Loan Document or any omission to take any such action; 
 (x)    any law, regulation, decree or order of any jurisdiction or Governmental Authority or any event affecting any term of the Guaranteed Obligations; or 
 (xi)    any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge
or defense of a surety or guarantor. 
 (c)    To the fullest extent permitted by law, the
Guarantor expressly waives, for the benefit of the Administrative Agent and the Lenders, all diligence, presentment, demand for payment or performance, notices of nonpayment or nonperformance, protest, notices of protest, notices of dishonor and all
other notices or demands of any kind or nature whatsoever, and any requirement that the Administrative Agent or any Lender exhaust any right, power or remedy or proceed against any other Loan Party under any Loan Document or other agreement or
instrument referred to herein or therein, or against any other Person under any other guaranty of, or security for, any of the Guaranteed Obligations, and all notices of acceptance of this Guaranty or of the existence, creation, incurring or
assumption of new or additional Guaranteed Obligations. 
 SECTION 3. Reinstatement. The obligations of the Guarantor
under this Guaranty shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of any other Loan Party in respect of the Guaranteed Obligations is rescinded or must otherwise be restored or returned by the
Administrative Agent or any Lender, whether as a

  

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result of insolvency, any proceedings in bankruptcy, dissolution, liquidation or reorganization or otherwise. 
 SECTION 4. Subrogation. The Guarantor hereby agrees that, until the final payment in full of all Guaranteed Obligations, it shall not exercise any right or remedy arising by reason of any
performance by it of its guaranty in Section 1, whether by subrogation, reimbursement, contribution or otherwise, against any other Loan Party or any other guarantor of any of the Guaranteed Obligations or any security for any of the Guaranteed
Obligations. 
 SECTION 5. Remedies. The Guarantor agrees that, as between the Guarantor and the Administrative Agent and
the Lenders, the obligations of any other Loan Party under the Credit Agreement or any other Loan Documents may be declared to be forthwith due and payable as provided in Section 6.01 of the Credit Agreement (and shall be deemed to have become
automatically due and payable in the circumstances provided in said Section 6.01) for purposes of Section 1, notwithstanding any stay, injunction or other prohibition preventing such declaration (or such obligations from becoming
automatically due and payable) as against such other Loan Party and that, in the event of such declaration (or such obligations being deemed to have become automatically due and payable), such obligations (whether or not due and payable by such
other Loan Party) shall forthwith become due and payable by the Guarantor for purposes of Section 1. 
 SECTION 6.
Payments. Each payment by the Guarantor under this Guaranty shall be made in accordance with Section 2.09 of the Credit Agreement in the Currency in which the Guaranteed Obligations are denominated, without deduction, set-off or
counterclaim at the Administrative Agent’s Account and free and clear of any and all present and future Taxes. 
 SECTION
7. Representations and Warranties of the Guarantor. The Guarantor represents and warrants as follows: 
 (a)    Corporate Existence. The Guarantor is a corporation duly organized and validly existing under the laws of the State of Maryland. 
 (b)    Corporate Authorization, Etc. The execution, delivery and performance by the Guarantor of this Guaranty
are within the Guarantor’s corporate powers, have been duly authorized by all necessary corporate action and do not contravene (i) the charter or bylaws of the Guarantor or (ii) any law or contractual restriction binding on or
affecting the Guarantor or any of its Subsidiaries. 
 (c)    No Approvals. No authorization,
approval or action by, and no notice to or filing with, any governmental authority or regulatory body is required for the due execution, delivery and performance by the Guarantor of this Guaranty. 
 (d)    Enforceability. This Guaranty is the legal, valid and binding obligations of the Guarantor, enforceable
against the Guarantor in accordance with its terms. 
 (e)    No Litigation. There is no pending or
(to the best of the Guarantor’s knowledge) threatened action or proceeding against the Guarantor or any of its Subsidiaries or

  

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relating to any of their respective properties before any court, governmental agency or arbitrator, which purports to affect the legality, validity or enforceability of this Guaranty. 

(f)    Investment Company. The Guarantor is not an “investment company” within the meaning of the
Investment Company Act of 1940, as amended. 
 (g)    Disclosure. The information furnished in
writing by or on behalf of the Guarantor to the Lenders in connection with the negotiation, execution and delivery of this Guaranty does not contain any material misstatements of fact or omit to state a material fact necessary to make the statements
contained therein, in light of the circumstances under which they were made, not misleading. 
 (h)    No
Defaults. The Guarantor is not in default under or with respect to any agreement, instrument or undertaking to which it is a party or by which it or any of its property is bound in any respect which could reasonably be expected to result in a
Material Adverse Effect. 
 SECTION 8. Notices, Etc. All notices, demands, requests, consents and other communications
provided for in this Guaranty shall be given in writing, or by any telecommunication device capable of creating a written record (including electronic mail), and addressed to the party to be notified as set forth in Section 8.02 of the Credit
Agreement. Delivery by telecopier of an executed counterpart of a signature page to any amendment or waiver of any provision of this Guaranty shall be effective as delivery of an original executed counterpart thereof. 
 SECTION 9. No Waiver; Remedies. No failure on the part of any Lender or the Administrative Agent to exercise, and no delay in
exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law. 
 SECTION 10. Right of Set-off. If an Event of Default
shall have occurred and be continuing, each Lender is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final,
in whatever currency) at any time held and other indebtedness at any time owing by such Lender to the Guarantor against any of and all the obligations of the Guarantor now or hereafter existing under this Guaranty, although such obligations may be
unmatured. The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender may have. 
 SECTION 11. Continuing Guaranty; Assignments under the Credit Agreement. This Guaranty is a continuing guaranty and shall (a) remain in full force and effect until the later of (i) the
payment in full in cash of the Guaranteed Obligations and all other amounts payable under this Guaranty and (ii) the Termination Date, (b) be binding upon the Guarantor, its successors and assigns and (c) inure to the benefit of and
be enforceable by the Administrative Agent and the Lenders and their successors, transferees and assigns. Without limiting the generality of clause (c) of the immediately preceding sentence, any Lender may assign or otherwise transfer all or
any portion of its rights and obligations under the Credit Agreement

  

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(including, without limitation, all or any portion of its Commitments, the Advances owing to it and the Note or Notes held by it) to any other Person, and such other Person shall thereupon become
vested with all the benefits in respect thereof granted to such Lender herein or otherwise, in each case as and to the extent provided in Section 8.07 of the Credit Agreement. The Guarantor shall not have the right to assign its rights or
obligations hereunder or any interest herein without the prior written consent of the Lenders. 
 SECTION 12. Execution in
Counterparts. This Guaranty may be executed in any number of counterparts each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed
counterpart of a signature page to this Guaranty by telecopier shall be effective as delivery of a manually executed counterpart of this Guaranty. 
 SECTION 13. Jurisdiction; Governing Law; Waiver of Jury Trial, Etc. (a)    Submission to Jurisdiction. The Guarantor hereby submits to the nonexclusive jurisdiction
of the United States District Court for the Southern District of New York and of any New York State court sitting in New York City for purposes of all legal proceedings arising out of or relating to this Guaranty. 
 (b)    Waiver of Venue. The Guarantor irrevocably waives, to the fullest extent permitted by law, any objection
which it may now or hereafter have to the laying of the venue of any such proceeding brought in such a court and a claim that such proceeding brought in such a court has been brought in an inconvenient forum. 
 (c)    THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. THE
GUARANTOR HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 [remainder of page intentionally left blank] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective signatories thereunto duly authorized, as of the date first above written. 
  

			
	 THE BLACK & DECKER
 CORPORATION

		
	By	 	/s/ Mark Rothleitner
		 	 Name: Mark Rothleitner
 Title:   Assistant Treasurer

  

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