Document:

Third Amended and Restated Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
  

 
  

 

 

 THIRD AMENDED AND RESTATED 
 CREDIT AGREEMENT 
 Dated as of February 23, 2011 

among 
 ACTUANT
CORPORATION 
 THE FOREIGN SUBSIDIARY BORROWERS PARTY HERETO, 

THE LENDERS FROM TIME TO TIME PARTY HERETO, 
 JPMORGAN CHASE BANK, N.A. 
 as Administrative Agent, 

BANK OF AMERICA, N.A. 
 WELLS FARGO BANK, N.A. 
 and 

U.S. BANK NATIONAL ASSOCIATION 
 as Syndication Agents, 
 and 

KEYBANK NATIONAL ASSOCIATION 
 as Documentation Agent 
  

 
 J.P.
MORGAN SECURITIES LLC 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED 

WELLS FARGO SECURITIES, LLC 
 and 
 U.S. BANK NATIONAL ASSOCIATION  

Joint Lead Arrangers and Joint Bookrunners  
  

 
  

 TABLE OF CONTENTS 

 

					
	 ARTICLE I
	  	DEFINITIONS	  	 1

			
	 1.1.  
	  	Defined Terms	  	1
	 1.2.  
	  	Terms Generally	  	29
	 1.3.  
	  	Amendment and Restatement of the Existing Credit Agreement	  	30
	 1.4.  
	  	Termination of Existing Dutch Borrower	  	31
			
	 ARTICLE II
	  	THE CREDITS	  	32
			
	 2.1.  
	  	Revolving Loans	  	32
	 2.2.  
	  	Term Loans	  	32
	 2.3.  
	  	Ratable Loans; Types of Advances	  	33
	 2.4.  
	  	Swing Line Loans	  	33
	 2.5.  
	  	Commitment Fee; Reduction in Aggregate Revolving Loan Commitment; Expansion Option	  	35
	 2.6.  
	  	Minimum Amount of Each Advance	  	37
	 2.7.  
	  	Prepayments; Termination.	  	38
	 2.8.  
	  	Method of Selecting Types and Interest Periods for New Advances; Funding of Advances	  	40
	 2.9.  
	  	Conversion and Continuation of Outstanding Advances	  	41
	 2.10.
	  	Changes in Interest Rate, etc	  	42
	 2.11.
	  	Rates Applicable After Default	  	42
	 2.12.
	  	Method of Payment	  	42
	 2.13.
	  	Noteless Agreement; Evidence of Indebtedness	  	43
	 2.14.
	  	Telephonic Notices	  	44
	 2.15.
	  	Interest Payment Dates; Interest and Fee Basis	  	44
	 2.16.
	  	Notification of Advances, Interest Rates, Prepayments and Commitment Reductions	  	44
	 2.17.
	  	Lending Installations	  	45
	 2.18.
	  	Non-Receipt of Funds by the Agent	  	45
	 2.19.
	  	Facility LCs	  	45
	 2.20.
	  	Replacement of Lender	  	50
	 2.21.
	  	Defaulting Lenders	  	50
	 2.22.
	  	Judgment Currency	  	52
	 2.23.
	  	Market Disruption	  	52
	 2.24.
	  	Foreign Subsidiary Borrowers	  	53
			
	 ARTICLE III
	  	YIELD PROTECTION; TAXES	  	53
			
	 3.1.  
	  	Yield Protection	  	53
	 3.2.  
	  	Changes in Capital Adequacy Regulations	  	54
	 3.3.  
	  	Availability of Types of Advances	  	54
	 3.4.  
	  	Funding Indemnification	  	54
	 3.5.  
	  	Taxes	  	55
	 3.6.  
	  	UK Tax	  	57
	 3.7.  
	  	Lender Statements; Survival of Indemnity	  	61

  
 i 

							
	 ARTICLE IV
	  	CONDITIONS PRECEDENT	  	 	62	  
			
	 4.1.  
	  	Effectiveness of Agreement and Initial Credit Extension	  	 	62	  
	 4.2.  
	  	Initial Advance to each Additional Foreign Subsidiary Borrower	  	 	64	  
	 4.3.  
	  	Each Credit Extension	  	 	65	  
			
	 ARTICLE V
	  	REPRESENTATIONS AND WARRANTIES	  	 	66	  
			
	 5.1.  
	  	Existence and Standing	  	 	66	  
	 5.2.  
	  	Authorization and Validity	  	 	66	  
	 5.3.  
	  	No Conflict; Government Consent	  	 	66	  
	 5.4.  
	  	Financial Statements	  	 	66	  
	 5.5.  
	  	Material Adverse Change	  	 	67	  
	 5.6.  
	  	Taxes	  	 	67	  
	 5.7.  
	  	Litigation and Contingent Obligations	  	 	67	  
	 5.8.  
	  	Subsidiaries	  	 	67	  
	 5.9.  
	  	Employee Benefit Plans	  	 	67	  
	 5.10.
	  	Accuracy of Information	  	 	68	  
	 5.11.
	  	Regulation U	  	 	68	  
	 5.12.
	  	Material Agreements	  	 	68	  
	 5.13.
	  	Compliance With Laws	  	 	68	  
	 5.14.
	  	Ownership of Properties	  	 	69	  
	 5.15.
	  	Insurance	  	 	69	  
	 5.16.
	  	Environmental Matters	  	 	69	  
	 5.17.
	  	Investment Company Act	  	 	69	  
	 5.18.
	  	Centre of Main Interests and Establishment	  	 	69	  
	 5.19.
	  	Security Interest in Collateral	  	 	69	  
	 5.20.
	  	OFAC; USA PATRIOT Act, etc	  	 	70	  
	 5.21.
	  	Solvency	  	 	70	  
	 5.22.
	  	No Default or Unmatured Default	  	 	70	  
	 5.23.
	  	Special Representations and Warranties of each Foreign Subsidiary Borrower	  	 	70	  
			
	 ARTICLE VI
	  	COVENANTS	  	 	71	  
			
	 6.1.  
	  	Financial Reporting	  	 	71	  
	 6.2.  
	  	Use of Proceeds	  	 	73	  
	 6.3.  
	  	Notice of Default	  	 	73	  
	 6.4.  
	  	Conduct of Business	  	 	73	  
	 6.5.  
	  	Taxes	  	 	73	  
	 6.6.  
	  	Insurance	  	 	73	  
	 6.7.  
	  	Compliance with Laws	  	 	74	  
	 6.8.  
	  	Maintenance of Properties	  	 	74	  
	 6.9.  
	  	Books and Records; Inspection	  	 	74	  
	 6.10.
	  	Dividends	  	 	74	  
	 6.11.
	  	Indebtedness	  	 	75	  
	 6.12.
	  	Merger	  	 	77	  
	 6.13.
	  	Sale of Assets	  	 	77	  

  
 ii 

					
	 6.14.
	  	Investments and Acquisitions	  	78
	 6.15.
	  	Liens	  	79
	 6.16.
	  	Affiliates	  	81
	 6.17.
	  	Subordinated Indebtedness and Senior Note Indebtedness	  	81
	 6.18.
	  	Contingent Obligations	  	81
	 6.19.
	  	Financial Covenants	  	82
	 6.20.
	  	Fiscal Year	  	82
	 6.21.
	  	Subsidiary Guarantors; Pledges; Collateral Documentation; Additional Collateral; Further Assurances	  	82
	 6.22.
	  	Centre of Main Interests and Establishment	  	86
			
	 ARTICLE VII
	  	DEFAULTS	  	87
			
	 ARTICLE VIII
	  	ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES	  	89
			
	 8.1.  
	  	Acceleration.	  	89
	 8.2.  
	  	Amendments	  	90
	 8.3.  
	  	Preservation of Rights	  	92
			
	 ARTICLE IX
	  	GENERAL PROVISIONS	  	93
			
	 9.1.  
	  	Survival of Representations	  	93
	 9.2.  
	  	Governmental Regulation	  	93
	 9.3.  
	  	Headings	  	93
	 9.4.  
	  	Entire Agreement	  	93
	 9.5.  
	  	Several Obligations; Benefits of this Agreement	  	93
	 9.6.  
	  	Expenses; Indemnification	  	93
	 9.7.  
	  	Numbers of Documents	  	94
	 9.8.  
	  	Accounting	  	94
	 9.9.  
	  	Severability of Provisions	  	94
	 9.10.
	  	Nonliability of Lenders	  	94
	 9.11.
	  	Confidentiality	  	95
	 9.12.
	  	Disclosure	  	95
	 9.13.
	  	USA PATRIOT ACT; European “Know Your Customer” Checks	  	95
	 9.14.
	  	English Language	  	96
	 9.15.
	  	Borrower Limitations	  	96
			
	 ARTICLE X
	  	THE AGENT	  	96
			
	 10.1.
	  	Appointment; Nature of Relationship	  	96
	 10.2.
	  	Powers	  	96
	 10.3.
	  	General Immunity	  	96
	 10.4.
	  	No Responsibility for Loans, Recitals, etc	  	97
	 10.5.
	  	Action on Instructions of Lenders	  	97
	 10.6.
	  	Employment of Agents and Counsel	  	97
	 10.7.
	  	Reliance on Documents; Counsel	  	97
	 10.8.
	  	Agent’s Reimbursement and Indemnification	  	98

  
 iii

							
	 10.9.  
	  	Notice of Default	  	 	98	  
	 10.10.
	  	Rights as a Lender	  	 	98	  
	 10.11.
	  	Lender Credit Decision	  	 	98	  
	 10.12.
	  	Successor Agent	  	 	99	  
	 10.13.
	  	Agent and Arranger Fees	  	 	99	  
	 10.14.
	  	Delegation to Affiliates	  	 	99	  
	 10.15.
	  	Collateral Matters	  	 	99	  
	 10.16.
	  	Guaranty and Collateral Releases	  	 	100	  
	 10.17.
	  	Parallel Debt	  	 	100	  
	 10.18.
	  	French Security	  	 	102	  
	 10.19.
	  	Syndication Agents; Documentation Agents	  	 	102	  
			
	 ARTICLE XI
	  	SETOFF; RATABLE PAYMENTS; APPLICATION OF PROCEEDS	  	 	102	  
			
	 11.1.  
	  	Setoff	  	 	102	  
	 11.2.  
	  	Ratable Payments	  	 	102	  
	 11.3.  
	  	Application of Proceeds	  	 	103	  
			
	 ARTICLE XII
	  	BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS	  	 	103	  
			
	 12.1.  
	  	Successors and Assigns	  	 	103	  
	 12.2.  
	  	Participations	  	 	104	  
	 12.3.  
	  	Assignments	  	 	105	  
	 12.4.  
	  	Dissemination of Information	  	 	107	  
	 12.5.  
	  	Tax Treatment	  	 	107	  
			
	 ARTICLE XIII
	  	NOTICES	  	 	107	  
			
	 13.1.  
	  	Notices; Electronic Communication.	  	 	107	  
			
	 ARTICLE XIV
	  	COUNTERPARTS; INTEGRATION; EFFECTIVENESS; ELECTRONIC EXECUTION	  	 	109	  
			
	 14.1.  
	  	Counterparts; Effectiveness	  	 	109	  
	 14.2.  
	  	Electronic Execution of Assignments	  	 	109	  
			
	 ARTICLE XV
	  	CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL	  	 	109	  
			
	 15.1.  
	  	CHOICE OF LAW	  	 	109	  
	 15.2.  
	  	CONSENT TO JURISDICTION	  	 	110	  
	 15.3.  
	  	WAIVER OF JURY TRIAL	  	 	110	  
	 15.4.  
	  	AGENT FOR SERVICE OF PROCESS	  	 	110	  
			
	 ARTICLE XVI
	  	GUARANTY	  	 	110	  
			
	 16.1.  
	  	Company Guaranty	  	 	110	  
	 16.2.  
	  	Foreign Subsidiary Borrower Guaranty	  	 	112	  
	 16.3.  
	  	Limitation on Obligations of Foreign Subsidiary Borrowers	  	 	112	  

  

  
 iv 

 EXHIBITS 

							
			
	 Exhibit A
	  	 	-	  	  	Opinions of Loan Parties’ Counsel
	 Exhibit B
	  	 	-	  	  	Compliance Certificate
	 Exhibit C
	  	 	-	  	  	Assignment and Acceptance
	 Exhibit D-1
	  	 	-	  	  	Form of Increasing Lender Supplement
	 Exhibit D-2
	  	 	-	  	  	Form of Augmenting Lender Supplement
	 Exhibit E-1
	  	 	-	  	  	Note for Revolving Loans (if requested)
	 Exhibit E-2
	  	 	-	  	  	Note for Term Loans (if requested)
	 Exhibit F
	  	 	-	  	  	Form of Assumption Letter
	 Exhibit G
	  	 	-	  	  	Form of UK Tax Certificate
	 Exhibit H
	  	 	-	  	  	Form of Subsidiary Borrower Termination

 SCHEDULES

							
			
	 Commitment Schedule
	  				  	
	Mandatory Cost Schedule	  				  	
	Pricing Schedule	  				  	
	 Schedule 1.2
	  	 	-	  	  	Initial Material Domestic Subsidiaries
	 Schedule 1.3
	  	 	-	  	  	Initial Material Foreign Subsidiaries
	 Schedule 1.4
	  	 	-	  	  	Initial Foreign Law Pledgors and Foreign Law Pledge Agreements
	 Schedule 1.5
	  	 	-	  	  	Existing Sale and Leaseback Transactions
	 Schedule 2.19.13
	  	 	-	  	  	Existing Letters of Credit
	 Schedule 4.1
	  	 	-	  	  	List of Closing Documents
	 Schedule 5.7
	  	 	-	  	  	Litigation
	 Schedule 5.8
	  	 	-	  	  	Subsidiaries
	 Schedule 5.15
	  	 	-	  	  	Insurance
	 Schedule 6.11
	  	 	-	  	  	Indebtedness
	 Schedule 6.14
	  	 	-	  	  	Investments
	 Schedule 6.15
	  	 	-	  	  	Liens
	 Schedule 6.18
	  	 	-	  	  	Contingent Obligations

  
 v 

 THIRD AMENDED AND RESTATED 

CREDIT AGREEMENT 
 This Third Amended and Restated Credit Agreement, dated as of February 23, 2011, is among ACTUANT CORPORATION, a Wisconsin corporation, the FOREIGN SUBSIDIARY BORROWERS that are or may hereafter
become party hereto, the LENDERS from time to time party hereto, JPMORGAN CHASE BANK, N.A., a national banking association, as LC Issuer and as Agent, BANK OF AMERICA, N.A., WELLS FARGO BANK, N.A. and U.S. BANK NATIONAL ASSOCIATION, as Syndication
Agents, and KEYBANK NATIONAL ASSOCIATION, as Documentation Agent. 
 WHEREAS, the Borrowers, the lenders party thereto and the
Agent are currently party to the Second Amended and Restated Credit Agreement, dated as of November 10, 2008 (as amended, supplemented (including by Assumption Letters executed by the Foreign Subsidiary Borrowers party thereto) or otherwise
modified prior to the date hereof, the “Existing Credit Agreement”); 
 WHEREAS, the Borrowers, the Lenders,
the Departing Lenders (as hereinafter defined) and the Agent have agreed (a) to enter into this Agreement in order to (i) amend and restate the Existing Credit Agreement in its entirety; (ii) re-evidence the “Obligations”
under, and as defined in, the Existing Credit Agreement, which shall be repayable in accordance with the terms of this Agreement; and (iii) set forth the terms and conditions under which the Lenders will, from time to time, make loans and
extend other financial accommodations to or for the benefit of the Borrowers and (b) that each Departing Lender shall cease to be a party to the Existing Credit Agreement, as evidenced by its execution and delivery of its Departing Lender
Signature Page (as hereinafter defined); 
 WHEREAS, it is the intent of the parties hereto that this Agreement shall not
constitute a novation of the obligations and liabilities of the parties under the Existing Credit Agreement or be deemed to evidence or constitute full repayment of such obligations and liabilities, but that this Agreement shall amend and restate in
its entirety the Existing Credit Agreement and re-evidence the obligations and liabilities of the Borrowers outstanding thereunder, which shall be payable in accordance with the terms hereof; and 

WHEREAS, it is also the intent of the Borrowers, the Guarantors and the Foreign Law Pledgors to confirm that all obligations under the
applicable “Loan Documents” (as referred to and defined in the Existing Credit Agreement, and including the Existing Credit Agreement, the “Existing Loan Documents”) shall continue in full force and effect as modified or
restated by the Loan Documents (as referred to and defined herein) and that, from and after the Closing Date, all references to the “Credit Agreement” contained in any such Existing Loan Documents shall be deemed to refer to this
Agreement; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, the parties hereto
hereby agree that the Existing Credit Agreement is hereby amended and restated as follows: 
 ARTICLE I 

DEFINITIONS 
 1.1. Defined Terms. As used in this Agreement: 
 “2007 Senior Note
Indenture” means that certain Indenture, dated as of June 12, 2007, between the Company and the “Trustee” referred to therein, under which the Company has issued senior unsecured notes in an original aggregate principal
amount of $250,000,000 as of the Closing Date, as such Indenture may be amended, restated, supplemented or otherwise modified from time to time in a manner permitted by the terms hereof. 

  
 EXH. A-1

 “2007 Senior Notes” means the “Notes” as defined in the 2007
Senior Note Indenture, as such Notes may be amended, restated, supplemented or otherwise modified from time to time in a manner permitted by the terms hereof. 
 “Acquisition” means any transaction, or any series of related transactions, consummated on or after the Closing Date, by which the Company or any of its Subsidiaries (i) acquires any
going business or all or substantially all of the assets of any firm, corporation or limited liability company, or division thereof, whether through purchase of assets, merger or otherwise or (ii) directly or indirectly acquires (in one
transaction or as the most recent transaction in a series of transactions) at least a majority (in number of votes) of the securities of a corporation which have ordinary voting power for the election of directors (other than securities having such
power only by reason of the happening of a contingency) or a majority (by percentage or voting power) of the outstanding ownership interests of a partnership or limited liability company. 

“Adjusted Eurocurrency Base Rate” means, with respect to any Eurocurrency Advance for any Interest Period, an interest
rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the sum of (i) the product of (a) the Eurocurrency Base Rate for such Interest Period multiplied by (b)the Statutory Reserve Rate, plus (ii) for
Advances by a Lender from its office or branch in the United Kingdom, the Mandatory Cost, plus (iii) any other mandatory costs imposed on or with respect to the Loans under this Agreement by any governmental or regulatory authority.

 “Advance” means a borrowing hereunder consisting of Revolving Loans or Term Loans, as the case may be,
(i) made by some or all of the Lenders on the same Borrowing Date, or (ii) converted or continued by the Lenders on the same date of conversion or continuation, consisting, in either case, of the aggregate amount of the several Loans of
the same Type and, in the case of Eurocurrency Loans, in the same currency and for the same Interest Period. The term “Advance” shall also include Swing Line Loans unless otherwise expressly provided. 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agent”
means JPMorgan in its capacity as administrative agent and contractual representative of the Lenders pursuant to Article X, and not in its individual capacity as a Lender, and any successor Agent appointed pursuant to Article X. 

“Aggregate Outstanding Revolving Credit Exposure” means, at any time, the aggregate of the Outstanding Revolving Credit
Exposure of all the Revolving Lenders. 
 “Aggregate Revolving Loan Commitment” means the aggregate of the
Revolving Loan Commitments of all the Lenders arising on the Closing Date, as reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment as of the Closing Date is $600,000,000. 

“Aggregate Term Loan Commitment” means the aggregate of the Term Loan Commitments of all the Lenders arising on the
Closing Date, as funded and reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Term Loan Commitment of $100,000,000 shall be reduced to zero on the Closing Date in accordance with Section 2.2(a).

  
 2 

 “Agreed Currencies” means (a) Dollars and (b) so long as such
currencies remain Eligible Currencies, Pounds Sterling and euro. 
 “Agreement” means this Third Amended and
Restated Credit Agreement, as it may be amended, restated, supplemented or modified and in effect from time to time. 
 “Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on
such day plus  1/2 of 1% and (c) the
Adjusted Eurocurrency Base Rate for a one month Interest Period denominated in Dollars on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%, provided that, for the avoidance of doubt, the
Adjusted Eurocurrency Base Rate for any day shall be based on the rate appearing on the applicable Reuters Screen LIBOR01 Page (or any successor or substitute of such page) at approximately 11:00 a.m. (London time) on such day. Any change in the
Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted Eurocurrency Base Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective
Rate or the Adjusted Eurocurrency Base Rate, respectively. 
 “Applicable Fee Rate” means, at any time,
the percentage rate per annum at which commitment fees under Section 2.5(a) are accruing on the unused portion of the Aggregate Revolving Loan Commitment at such time as set forth in the Pricing Schedule. 

“Applicable Margin” means, with respect to Advances of any Type at any time, the percentage rate per annum which is
applicable at such time with respect to Advances of such Type as set forth in the Pricing Schedule. 
 “Applicable
Pledge Percentage” means 100%, but 65% in the case of a pledge of Equity Interests of a Foreign Subsidiary to secure the Obligations of each Borrower to the extent a 100% pledge would cause a Deemed Dividend Problem. 

“Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender
or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 “Approximate Equivalent
Amount” of any Foreign Currency with respect to any amount of Dollars shall mean the equivalent amount thereof in the applicable Foreign Currency using the Exchange Rate with respect to such Foreign Currency at the time in effect, rounded
up to the nearest amount of such currency as determined by the Agent from time to time. 
 “Arranger” means
each of (i) J.P. Morgan Securities LLC and its successors, (ii) Merrill Lynch, Pierce, Fenner & Smith Incorporated and its successors, (iii) Wells Fargo Securities, LLC and its successors and (iv) U.S. Bank National
Association and its successors, each in its capacity as a Joint Lead Arranger and Joint Bookrunner. 

“Article” means an article of this Agreement unless another document is specifically referenced. 

“Asset Sale” means the sale, transfer or other disposition (by way of merger or otherwise) by the Company or any of the
Subsidiaries to any Person (other than the Company or any Domestic Subsidiary Guarantor) of (a) any Equity Interest of any of the Subsidiaries (other than directors’ qualifying shares or shares required by applicable law to be held by a
person other than the Company or a Subsidiary) or (b) any other assets of the Company or any of the Subsidiaries, other than (i) dispositions of inventory, excess, damaged, obsolete or worn out equipment, scrap and Cash Equivalent
Investments, in each case disposed of in the ordinary course of business and consistent with past practices, (ii) dispositions resulting in insurance proceeds or condemnation awards, (iii) dispositions between or among Foreign Subsidiaries
or (iv) transfers of interests in accounts or notes receivable and related assets as part of a Qualified Receivables Transaction or Permitted Factoring Transaction. 

  
 3 

 “Assumption Letter” means a letter of Applied Power Europa B.V. or Enerpac
B.V., each a Dutch Subsidiary, addressed to the Lenders in substantially the form of Exhibit F hereto, pursuant to which such Subsidiary agrees to become a “Foreign Subsidiary Borrower” and agrees to be bound by the terms and conditions
hereof. 
 “Attributable Debt” in respect of a Sale and Leaseback Transaction means, as at the time of
determination, the present value (discounted at the actual rate of interest implicit in such transaction, compounded annually) of the total obligations of the lessee for rental payments during the remaining term of the lease included in such Sale
and Leaseback Transaction (including any period for which such lease has been extended); provided, that any reference to Attributable Debt in respect of Sale and Leaseback transactions shall exclude the present value (discounted at the actual
rate of interest implicit in such transaction, compounded annually) of the total obligations of the lessee for rental payments during the remaining term of the leases identified on Schedule 1.5 hereto in an aggregate amount not to exceed $15,000,000
at any time. 
 “Augmenting Lender” is defined in Section 2.5(c). 

“Available Aggregate Revolving Loan Commitment” means, at any time, the Aggregate Revolving Loan Commitment then in
effect minus the Aggregate Outstanding Revolving Credit Exposure at such time. 
 “Banking Services”
means each and any of the following bank services provided to the Company or any Subsidiary by any Lender or any of its Affiliates: (a) commercial credit cards, (b) stored value cards, (c) purchasing cards and (d) treasury
management services (including, without limitation, controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate depository network services). 

“Banking Services Obligations” means any and all obligations of the Company or any Subsidiary, whether absolute or
contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor) in connection with Banking Services. 

“Bankruptcy Event” means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith
determination of the Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any
ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not result in or provide such Person with immunity
from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm
any contracts or agreements made by such Person. 
 “Board” means the Board of Governors of the Federal Reserve
System of the United States of America. 

  
 4 

 “Borrower” means the Company or any Foreign Subsidiary Borrower, as
applicable, and “Borrowers” means all of the foregoing. 
 “Borrowing Date” means a date on which an
Advance is made hereunder. 
 “Borrowing Notice” is defined in Section 2.8. 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in Chicago or New
York City are authorized or required by law to remain closed; provided that, when used in connection with a Eurocurrency Loan or a Letter of Credit denominated in a Foreign Currency, the term “Business Day” shall also exclude any
day on which banks are not open for dealings in the relevant Agreed Currency in the London interbank market or the principal financial center of such Foreign Currency and, if the Loans or Letters of Credit which are the subject of a borrowing,
drawing, payment, reimbursement or rate selection are denominated in euro, the term “Business Day” shall also exclude any day on which the TARGET payment system is not open for the settlement of payments in euro. 

“Cancelled Pledge” is defined in Section 1.4. 

“Capital Expenditures” means, without duplication, any expenditures for any purchase or other acquisition of any asset
which would be classified as a fixed or capital asset on a consolidated balance sheet of the Company and its Subsidiaries prepared in accordance with GAAP. 
 “Capitalized Lease” of a Person means any lease of Property by such Person as lessee which would be capitalized on a balance sheet of such Person prepared in accordance with GAAP.

 “Capitalized Lease Obligations” of a Person means the amount of the obligations of such Person under
Capitalized Leases which would be shown as a liability on a balance sheet of such Person prepared in accordance with GAAP. 

“Cash Equivalent Investments” means (i) short-term obligations of, or fully guaranteed by, the United States of
America, (ii) commercial paper rated A-1 or better by S&P or P-1 or better by Moody’s, (iii) demand deposit accounts maintained in the ordinary course of business, (iv) certificates of deposit issued by and time deposits with
commercial banks (whether domestic or foreign) having capital and surplus in excess of $100,000,000, and (v) shares of money market mutual funds having net assets in excess of $1,000,000,000, the investments of which are limited to one or more
of the types of investments described in clauses (i) through (iv) above; provided in each case that the same provides for payment of both principal and interest (and not principal alone or interest alone) and is not subject to any
contingency regarding the payment of principal or interest. 
 “Change in Control” shall be deemed to have
occurred if (a) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that for purposes of this
clause (a) such person shall be deemed to have “beneficial ownership” of all shares that any such person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or
indirectly, of more than 50% of the total voting power of the Voting Stock of the Company (for the purpose of this clause (a) a person shall be deemed to beneficially own the Voting Stock of a corporation that is beneficially owned (as defined
above) by another corporation (a “parent corporation”) if such person beneficially owns (as defined above) at least 50% of the aggregate voting power of all classes of Voting Stock of such parent corporation); (b) during any period of
two consecutive years, individuals who at the beginning of such period constituted the board of directors (together with any new directors whose election by such board of directors or whose nomination for election by the shareholders of the Company
was approved by a vote of 66-2/3% of the directors of the Company then still in office who were either directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to
constitute a majority of the board of directors then in office; (c) the adoption of a plan relating to the liquidation or dissolution of the Company; (d) the merger or consolidation of the Company with or into another Person, or the sale
of all or substantially all the assets of the Company to another Person; (e) any “Change in Control” or “Change of Control” as defined in any Subordinated Indebtedness Document, or any “Designated Event” as defined
in the Convertible Indenture or as similarly defined in any other Subordinated Indebtedness Document, occurs and as a result thereof the Company is required to prepay or repurchase, or make an offer to prepay or repurchase, such Subordinated
Indebtedness, (f) any “Change of Control” (or other term of like effect) as defined in the 2007 Senior Note Indenture or as similarly defined in any other Senior Note Document or (g) the Company shall cease to own and control,
directly or indirectly, 100% of the Equity Interests of any Foreign Subsidiary Borrower. 

  
 5 

 “Change in Law” means (a) the adoption of any law, rule, regulation or
treaty after the date of this Agreement, (b) any change in any law, rule, regulation or treaty or in the interpretation or application thereof by any Governmental Authority after the date of this Agreement or (c) compliance by any Lender
or the LC Issuer (or, for purposes of Section 2.15(b), by any lending office of such Lender or by such Lender’s or the LC Issuer’s holding company, if any) with any request, guideline or directive (whether or not having the force of
law) of any Governmental Authority made or issued after the date of this Agreement; provided, however, that notwithstanding anything herein to the contrary, the Dodd-Frank Wall Street Reform and Consumer Protection Act and all
requests, rules, guidelines or directives thereunder or issued in connection therewith shall be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued. For the avoidance of doubt (including in connection with
Section 3.2), “Change in Law” shall include any change after the date of this Agreement in (i) the risk-based capital guidelines in effect in the United States on the date of this Agreement, including transition rules, and
(ii) the corresponding capital regulations promulgated by regulatory authorities outside the United States including transition rules, and any amendments to such regulations adopted prior to the date of this Agreement. 

“Closing Date” means February 23, 2011. 
 “Code” means the Internal Revenue Code of 1986, as amended, reformed or otherwise modified from time to time. 
 “Collateral” means the Property covered by the Collateral Documents, the Facility LC Collateral Account and any other Property, now existing or hereafter acquired, that may at any time be
or become subject to a security interest or Lien in favor of the Agent, for the benefit of the Holders of Secured Obligations, to secure the Secured Obligations. 
 “Collateral Documents” means, collectively, the Security Agreement, the Foreign Law Pledge Agreements, the Intellectual Property Security Agreements and all other agreements, instruments
and documents executed in connection with this Agreement that are intended to create, perfect or evidence Liens to secure the Secured Obligations or any guaranty of the Secured Obligations, including, without limitation, all other security
agreements, pledge agreements, loan agreements, notes, guarantees, subordination agreements, pledges, powers of attorney, consents, assignments, contracts, notices, financing statements and all other written matter whether heretofore, now, or
hereafter executed by or on behalf of the Company or any of its Subsidiaries and delivered to the Agent or any of the Lenders, together with all agreements and documents referred to therein or contemplated thereby. 

  
 6 

 “Collateral Release Date” means the date, if any, on which Liens on the
Collateral are released as described in Section 6.21(f)(i)(ii). 
 “Collateral Shortfall Amount” is
defined in Section 8.1.1. 
 “Commitment Schedule” means the Schedule attached hereto identified as such.

 “Commitment Supplement” means a supplement to this Agreement delivered by an Increasing Lender or an
Augmenting Lender pursuant to Section 2.5(c) with respect to increases to the Term Loan Commitments or increases to the Revolving Loan Commitments, in either case, substantially in the form of Exhibit D-1 or D-2 hereto, as appropriate.

 “Company” means Actuant Corporation, a Wisconsin corporation, and its successors and assigns. 

“Consolidated Assets” means at any time the assets of the Company and its Subsidiaries calculated on a consolidated
basis in accordance with GAAP as of such time. 
 “Consolidated Capital Expenditures” means, with reference to
any period, the Capital Expenditures of the Company and its Subsidiaries calculated on a consolidated basis for such period. 

“Consolidated EBITDA” means, for any period, (without duplication) the sum of the amounts for such period of
Consolidated Net Income, plus to the extent deducted from revenues in determining Consolidated Net Income, (i) Consolidated Interest Expense, (ii) provision for taxes based on income, (iii) total depreciation expense,
(iv) total amortization expense, in each case without giving effect to any extraordinary gains or losses or gains or losses from sales of assets other than inventory sold in the ordinary course of business, (v) unrealized non-cash Net
Mark-to-Market Exposure under Rate Management Transactions, (vi) restructuring charges in an aggregate amount not to exceed $30,000,000 during any four fiscal quarter period and (vii) non-cash impairment and long-term incentive plan
charges; provided, however, that amounts in any such period in respect of (a) any non-cash charges attributable to the expensing of stock options as required or recommended by the Financial Standards and Accounting Board shall be added
to Consolidated EBITDA for such period, and (b) the write-off of deferred financing fees and any premium actually paid in connection with Specified Financing Transactions shall be added to Consolidated EBITDA for such period. 

“Consolidated Indebtedness” means at any time the Indebtedness of the Company and its Subsidiaries calculated on a
consolidated basis as of such time; provided, however, that Consolidated Indebtedness shall exclude Senior Note Indebtedness or Subordinated Indebtedness evidenced by any indenture or other agreement if funds remain irrevocably deposited with
the trustee under such indenture or other agreement in accordance with the terms thereof and in an amount sufficient to redeem all outstanding Indebtedness thereunder (including interest thereon) and all other sums due under such indenture or other
agreement in accordance with the terms thereof (and, in the case of any Senior Note Indebtedness, such redemption is permitted by the terms hereof). 
 “Consolidated Interest Expense” means, with reference to any period, the interest expense (net of interest income) of the Company and its Subsidiaries calculated on a consolidated basis
for such period in accordance with GAAP, including financing costs in connection with a Qualified Receivables Transaction. 

  
 7 

 “Consolidated Net Income” means, for any period, (without duplication) the
consolidated net after tax income (or loss) of the Company and its consolidated Subsidiaries (other than net income, if positive, of any Subsidiary to the extent that the declaration or payment of dividends or similar distributions is not at the
time permitted by operation of the terms of its charter or by-laws or any other agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to such Subsidiary) determined in accordance with GAAP; provided,
however, that amounts in any such period in respect of (a) any non-cash charges associated with the sale or discontinuance of assets, businesses or product lines and (b) the cumulative effect of accounting changes shall be added,
without duplication, to Consolidated Net Income for such period. 
 “Consolidated Operating Income” means, for
any period, consolidated operating income of the Company and its consolidated Subsidiaries determined in accordance with GAAP. 

“Consolidated Rentals” means, with reference to any period, the Rentals of the Company and its Subsidiaries calculated
on a consolidated basis for such period. 
 “Consolidated Senior Indebtedness” means at any time Consolidated
Indebtedness minus Subordinated Indebtedness of the Company and its Subsidiaries calculated on a consolidated basis as of such time. 
 “Contingent Obligation” of a Person means any agreement, undertaking or arrangement by which such Person assumes, guarantees, endorses, contingently agrees to purchase or provide funds
for the payment of, or otherwise becomes or is contingently liable upon, the obligation or liability of any other Person, or agrees to maintain the net worth or working capital or other financial condition of any other Person, or otherwise assures
any creditor of such other Person against loss, including, without limitation, any comfort letter, operating agreement, take-or-pay contract or the obligations of any such Person as general partner of a partnership with respect to the liabilities of
the partnership. 
 “Control” means the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Controlled Group” means all members of a controlled group of corporations or other business entities and all trades or
businesses (whether or not incorporated) under common control which, together with the Company or any of its Subsidiaries, are treated as a single employer under Section 414 of the Code. 

“Conversion/Continuation Notice” is defined in Section 2.9. 

“Convertible Note Indenture” means the Indenture dated as of November 10, 2003 among the Company and U.S. Bank
National Association, as trustee. 
 “Convertible Notes” means the Company’s 2% Convertible Senior
Subordinated Debentures due 2023 issued pursuant to the Convertible Note Indenture. 
 “Credit Event” means
(i) any Credit Extension or (ii) any payment made by the LC Issuer pursuant to one or more drawings under a Facility LC. 
 “Credit Extension” means the making of an Advance or the issuance or Modification of a Facility LC hereunder (including the reevidencing of Revolving Loans and/or Swing Line Loans and the
deemed issuance of Existing Letters of Credit, in any such case, on the Closing Date). 

  
 8 

 “Credit Extension Date” means the Borrowing Date for an Advance or the
issuance date for a Facility LC. 
 “Credit Party” means the Agent, the LC Issuer, the Swing Line Lender or any
other Lender. 
 “Deemed Dividend Problem” means, with respect to any Foreign Subsidiary, any portion of such
Foreign Subsidiary’s accumulated and undistributed earnings and profits being deemed to be repatriated to the Company or the applicable parent Domestic Subsidiary for U.S. federal income tax purposes and the effect of such repatriation causing
adverse tax consequences to the Company or such parent Domestic Subsidiary, in each case as determined by the Company in its commercially reasonable judgment acting in good faith and in consultation with its legal and tax advisors. 

“Default” means an event described in Article VII. 

“Defaulting Lender” means any Lender that (a) has failed, within two (2) Business Days of the date required to
be funded or paid, to (i) fund any portion of its Loans, (ii) fund any portion of its participations in Facility LCs or Swing Line Loans or (iii) pay over to any Credit Party any other amount required to be paid by it hereunder,
unless, in the case of clause (i) above, such Lender notifies the Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding (specifically identified and including the
particular default, if any) has not been satisfied, (b) has notified the Company or any Credit Party in writing, or has made a public statement to the effect, that it does not intend or expect to comply with any of its funding obligations under
this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s good faith determination that a condition precedent (specifically identified and including the particular default, if any) to funding
a loan under this Agreement cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three (3) Business Days after request by a Credit Party, acting in good faith, to provide a
certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able to meet such obligations) to fund prospective Loans and participations in then outstanding Facility LCs and Swing
Line Loans under this Agreement, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such certification in form and substance satisfactory to it and the
Agent, or (d) has become the subject of a Bankruptcy Event. 
 “Departing Lender” means each lender under
the Existing Credit Agreement that executes and delivers to the Agent a Departing Lender Signature Page. 
 “Departing
Lender Signature Page” means each signature page to this Agreement on which it is indicated that the Departing Lender executing the same shall cease to be a party to the Existing Credit Agreement on the Closing Date. 

“Dividend” with respect to any Person means that such Person has declared or paid a dividend or returned any equity
capital to its holders of its Equity Interests or authorized or made any other distribution, payment or delivery of property (other than common stock of such Person) or cash to holders of its Equity Interests as such, or redeemed, retired, purchased
or otherwise acquired, directly or indirectly, for consideration any shares of any class of its Equity Interests outstanding on or after the Closing Date (or any options or warrants issued by such Person with respect to its Equity Interests), or set
aside any funds for any of the foregoing purposes, or shall have permitted any of its Subsidiaries to purchase or otherwise acquire for a consideration any shares of any class of the Equity Interests of such Person outstanding on or after the
Closing Date (or any options or warrants issued by such Person with respect to its Equity Interests) or, in any such case, entered into any transaction having a substantially similar effect. Without limiting the foregoing,
“Dividends” with respect to any Person shall also include all payments made or required to be made by such Person with respect to any stock appreciation rights plans, equity incentive or achievement plans or any similar plans or setting
aside of any funds for the foregoing purposes. 

  
 9 

 “Dollar” and “$” means the lawful currency of the United States
of America. 
 “Dollar Amount” means, on any date of determination, (a) with respect to any amount in
Dollars, such amount, and (b) with respect to any amount in any Foreign Currency, the equivalent in Dollars of such amount, determined by the Agent pursuant to Section 2.1(d) using the Exchange Rate with respect to such Foreign Currency at
the time in effect. 
 “Domestic Subsidiary” means a Subsidiary of the Company incorporated or organized under
the laws of the United States of America, any State thereof or the District of Columbia. 
 “Domestic Subsidiary
Guarantor” means each Domestic Subsidiary that is party to the Subsidiary Guaranty. The initial Domestic Subsidiary Guarantors on the Closing Date are identified as such in Schedule 1.2 hereto. 

“Domestic Subsidiary Guaranty” means that certain Fourth Amended and Restated Subsidiary Guaranty, dated as of the
Closing Date, executed by the Domestic Subsidiary Guarantors in favor of the Agent, for the benefit of the Holders of Secured Obligations, as it may be amended, restated, supplemented or modified and in effect from time to time, pursuant to which
the Domestic Subsidiary Guarantors have jointly and severally guaranteed payment of the Secured Obligations when due. 

“Dutch Borrower” means, from and after the date on which it may become a party hereto after the Closing Date pursuant to
Section 2.24.1, (i) Applied Power Europa B.V. and/or (ii) Enerpac B.V., each a Dutch Subsidiary and in each case, unless such Subsidiary has ceased to constitute a Foreign Subsidiary Borrower pursuant to Section 2.24.2.

 “Dutch Financial Supervision Act” means the Dutch Financial Supervision Act 2007 (Wet op het Financieel
Toezicht 2007), as amended from time to time. 
 “Dutch Subsidiary” means a Subsidiary of the Company
organized under the laws of the Netherlands. 
 “Eligible Currency” means any currency other than Dollars that
is readily available, freely traded, in which deposits are customarily offered to banks in the London interbank market, convertible into Dollars in the international interbank market available to the Lenders in such market and as to which a Dollar
Amount may be readily calculated. If, after the designation by the Lenders of any currency as an Agreed Currency, currency control or other exchange regulations are imposed in the country in which such currency is issued with the result that
different types of such currency are introduced, such country’s currency is, in the determination of the Agent, (i) no longer readily available or freely traded or (ii) as to which, in the determination of the Agent, a Dollar Amount
is not readily calculable ((i) and (ii) a “Disqualifying Event”), then the Agent shall promptly notify the Lenders and the Borrowers, and such country’s currency shall no longer be an Agreed Currency until such time as the
Disqualifying Event(s) no longer exist, but in any event within five (5) Business Days of receipt of such notice from the Agent, each Borrower shall repay all Loans in such currency to which the Disqualifying Event applies or convert such Loans
into the Dollar Amount of Loans in Dollars, subject to the other terms contained in Article II. 

  
 10 

 “Environmental Laws” means any and all federal, state, local and foreign
statutes, laws, judicial decisions, regulations, ordinances, rules, judgments, orders, decrees, plans, injunctions, permits, concessions, grants, franchises, licenses, agreements and other governmental restrictions relating to (i) the
protection of the environment, (ii) the effect of the environment on human health, (iii) emissions, discharges or releases of pollutants, contaminants, hazardous substances or wastes into surface water, ground water or land, or
(iv) the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of pollutants, contaminants, hazardous substances or wastes or the clean-up or other remediation thereof. 

“Equity Interests” means (i) in the case of a corporation, corporate stock, (ii) in the case of a limited
liability company, association or business entity, any and all shares, interests, participations, ownership or voting rights or other equivalents (however designated) of corporate stock, (iii) in the case of a partnership, partnership interests
(whether general or limited) and (iv) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, in each case regardless of class or
designation, and all warrants, options, purchase rights, conversion or exchange rights, voting rights, calls or claims of any character with respect thereto. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any rule or regulation issued thereunder. 

“Establishment” means in respect of any Person, any place of operations where such Person carries out a non-transitory
economic activity with human means and goods, assets or services. 
 “EU” means the European Union. 

“euro” and/or “EUR” means the single currency of the participating member states of the EU. 

“Eurocurrency Advance” means an Advance which, except as otherwise provided in Section 2.11, bears interest at the
applicable Eurocurrency Rate. 
 “Eurocurrency Base Rate” means, with respect to any Eurocurrency Advance for
any Interest Period, the rate appearing on, in the case of Dollars, Reuters Screen LIBOR01 Page and, in the case of any Foreign Currency, the appropriate page of such service which displays British Bankers Association Interest Settlement Rates for
deposits in such Foreign Currency (or, in each case, on any successor or substitute page of such service, or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such page of such
service, as determined by the Agent from time to time for purposes of providing quotations of interest rates applicable to deposits in the relevant Agreed Currency in the London interbank market) at approximately 11:00 a.m., London time, two
(2) Business Days prior to (or, in the case of Loans denominated in Pounds Sterling, on the day of) the commencement of such Interest Period, as the rate for deposits in the relevant Agreed Currency with a maturity comparable to such Interest
Period. In the event that such rate is not available at such time for any reason, then the “LIBO Rate” with respect to such Eurocurrency Borrowing for such Interest Period shall be the rate at which deposits in the relevant Agreed Currency
in a Dollar Amount of $5,000,000 and for a maturity comparable to such Interest Period are offered by the principal London office of the Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time,
two (2) Business Days prior to (or, in the case of Loans denominated in Pounds Sterling, on the day of) the commencement of such Interest Period. 
 “Eurocurrency Loan” means a Loan which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurocurrency Rate. 

  
 11 

 “Eurocurrency Payment Office” of the Agent shall mean, for each of the
Agreed Currencies, the office, branch or affiliate of the Agent, specified from time to time as the “Eurocurrency Payment Office” for such Agreed Currency by the Agent to the Borrowers and each Lender. 

“Eurocurrency Rate” means, with respect to any Eurocurrency Advance for any Interest Period, an interest rate per annum
equal to the sum of (i) the Adjusted Eurocurrency Base Rate for such Interest Period plus (ii) the Applicable Margin. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Exchange Rate” means, on any day, with respect to any Foreign Currency, the rate at which such Foreign Currency may be exchanged into Dollars, as set forth at approximately 11:00 a.m.,
local time, on such date on the Reuters World Currency Page for such Foreign Currency. In the event that such rate does not appear on any Reuters World Currency Page, the Exchange Rate with respect to such Foreign Currency shall be determined by
reference to such other publicly available service for displaying exchange rates as may be reasonably selected by the Agent or, in the event no such service is selected, such Exchange Rate shall instead be calculated on the basis of the arithmetical
mean of the buy and sell spot rates of exchange of the Agent for such Foreign Currency on the London market at 11:00 a.m., local time, on such date for the purchase of Dollars with such Foreign Currency, for delivery two (2) Business Days
later; provided, that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Agent, after consultation with the Company, may use any reasonable method it deems appropriate to determine such rate, and
such determination shall be conclusive absent manifest error. 
 “Exchange Rate Date” means, if on such date
any outstanding Revolving Loan or Facility LC is (or any Revolving Loan or Facility LC that has been requested at such time would be) denominated in a currency other than Dollars, each of: 

(a) the last Business Day of each calendar quarter, 

(b) each date (with such date to be reasonably determined by the Agent) that is on or about the date of (i) a
Borrowing Notice or a Conversion/Continuation Notice with respect to Revolving Loans or (ii) each request for the issuance or Modification of any Facility LC or the extension of any Swing Line Loan, and 

(c) any other Business Day designated as an Exchange Rate Date by the Agent in its sole discretion. 

“Excluded Taxes” means, in the case of each Lender or applicable Lending Installation and the Agent, (a) taxes
imposed on its overall net income, and franchise taxes imposed on it, by (i) the jurisdiction under the laws of which such Lender or the Agent is incorporated or organized or (ii) the jurisdiction in which the Agent’s or such
Lender’s principal executive office or such Lender’s applicable Lending Installation is located, and (b) taxes imposed by FATCA. 
 “Exhibit” refers to an exhibit to this Agreement, unless another document is specifically referenced. 
 “Existing Credit Agreement” is defined in the Recitals to this Agreement. 
 “Existing Loan Documents” is defined in the Recitals to this Agreement. 
 “Existing Loans” is defined in Section 2.1(a). 

  
 12 

 “Existing Letters of Credit” is defined in Section 2.19.13.

 “Facility LC” is defined in Section 2.19.1. 

“Facility LC Application” is defined in Section 2.19.3. 

“Facility LC Collateral Account” is defined in Section 2.19.11. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (and any amended or successor
version that is substantively comparable, but only if the requirements in such amended or successor version for avoiding the withholding are not materially more onerous than the requirements in the current version) and any current or future
regulations or official interpretations thereof. 
 “Federal Funds Effective Rate” means, for any day, the
weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business
Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions
received by the Agent from three Federal funds brokers of recognized standing selected by it. 
 “Financial
Officer” of any corporation means the chief financial officer, principal accounting officer, treasurer or controller of such corporation. 
 “Fixed Charge Coverage Ratio” means, at any date of determination, for the period of four consecutive fiscal quarters of the Company most recently ended as of such date, the ratio of
(i) Consolidated EBITDA minus Consolidated Capital Expenditures plus Consolidated Rentals to (ii) Consolidated Interest Expense minus Non-cash Interest Expense plus Consolidated Rentals plus expense for
taxes paid or accrued plus cash dividends paid by the Company during such period, all calculated for the Company and its Subsidiaries on a consolidated basis. For purposes of this definition, if at any time the Fixed Charge Coverage Ratio is
being determined the Company or any Subsidiary shall have completed a Permitted Acquisition or an Asset Sale since the beginning of the relevant four fiscal quarter period, the Fixed Charge Coverage Ratio shall be determined on a pro forma basis
reasonably acceptable to the Agent after giving effect to such Acquisition or Asset Sale, as if such Permitted Acquisition or Asset Sale, and any related incurrence or repayment of Indebtedness, had occurred at the beginning of such period;
provided, however, that in connection with a Permitted Acquisition that is not a Specified Acquisition, only Consolidated EBITDA, Consolidated Interest Expense and Non-Cash Interest Expense shall be determined on a pro forma basis.

 “Floating Rate” means, for any day, a rate per annum equal to (i) the Alternate Base Rate for such day
plus (ii) the Applicable Margin, in each case changing when and as the Alternate Base Rate changes. 

“Floating Rate Advance” means an Advance which, except as otherwise provided in Section 2.11, bears interest at the
Floating Rate. 
 “Floating Rate Loan” means a Loan which, except as otherwise provided in Section 2.11,
bears interest at the Floating Rate. 
 “Foreign Currency” means any Agreed Currency other than Dollars.

  
 13 

 “Foreign Law Pledge Agreement” means any pledge agreement governed by the
applicable local law with respect to a Material Foreign Subsidiary, a Foreign Subsidiary Borrower or any other Foreign Subsidiary the Equity Interests of which are pledged or required to be pledged hereunder, in a form reasonably acceptable to the
Agent, in each case, as it may be amended, restated, supplemented or modified and in effect from time to time. The initial Foreign Law Pledge Agreements in effect as of the Closing Date are set forth on Schedule 1.4 hereto. 

“Foreign Law Pledgor” means the Company and each Subsidiary that has executed a Foreign Law Pledge Agreement prior to
the Closing Date or executes a Foreign Law Pledge Agreement pursuant to Section 6.21(b) or (c). The initial Foreign Law Pledgors on the Closing Date are identified as such in Schedule 1.4 hereto. 

“Foreign Pension Plan” means any plan, scheme, fund (including any superannuation fund) or other similar program
established, sponsored or maintained outside the United States by the Company or any one or more of its Subsidiaries primarily for the benefit of employees of the Company or such Subsidiaries residing outside the United States, which plan, fund or
other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and which plan is not subject to ERISA or the Code. 

“Foreign Subsidiary” means any Subsidiary of the Company that is not a Domestic Subsidiary. 

“Foreign Subsidiary Borrower” means any Dutch Borrower or UK Borrower. 

“Fund” means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or
otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 

“GAAP” means generally accepted accounting principles as in effect from time to time in the United States. 

“Governmental Authority” means the government of the United States of America, any other nation or any political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government. 
 “Guaranteed Subsidiary Obligations” is defined in Article XVI. 

“Guarantor” means any Subsidiary Guarantor or the Company in its capacity as a guarantor under its Guaranty in Article
XVI hereof. 
 “Guaranty” means any Subsidiary Guaranty or the guaranty of the Company set forth in Article XVI
hereof. 
 “Historical Financial Statements” is defined in Section 4.1(a)(viii). 

“Holders of Secured Obligations” means (i) the holders of the Secured Obligations from time to time, including,
without limitation, the Agent, each Arranger, the Lenders, the LC Issuer, the Swing Line Lender and each of their respective Affiliates and including each Lender (or Affiliate thereof) in respect of all Rate Management Obligations and Banking
Services Obligations of the Company or any of its Subsidiaries owing to such Lender (or Affiliate) and (ii) each such holder’s respective successors, transferees and assigns. 

  
 14 

 “Holiday Quarter” means any quarter for which the Leverage Ratio shall be
permitted to be up to 4.25 to 1.0 in accordance with the parameters set forth in 6.19.1(a), or 4.00 to 1.0 in accordance with the parameters set forth in Section 6.19.1(b). 

“Increasing Lender” is defined in Section 2.5(c). 

“Incremental Term Loan” is defined in Section 2.5(c). 

“Incremental Term Loan Amendment” is defined in Section 2.5(c). 

“Incremental Term Loan Commitment” is defined in the definition of “Term Loan Commitment.” 

“Indebtedness” of a Person means (without duplication) such Person’s (i) obligations for borrowed money,
(ii) obligations representing the deferred purchase price of Property or services (other than accounts payable arising in the ordinary course of such Person’s business payable on terms customary in the trade), (iii) obligations,
whether or not assumed, secured by Liens or payable out of the proceeds or production from Property now or hereafter owned or acquired by such Person, (iv) obligations which are evidenced by notes, acceptances, or other instruments,
(v) obligations of such Person to purchase securities or other Property arising out of or in connection with the sale of the same or substantially similar securities or Property, (vi) Capitalized Lease Obligations, (vii) Receivables
Transaction Attributed Indebtedness, (viii) reimbursement obligations with respect to standby Letters of Credit, including contingent reimbursement obligations with respect to undrawn standby Letters of Credit, (ix) Net Mark-to-Market
Exposure under Rate Management Transactions, (x) all liabilities and obligations of the types described in the preceding clauses (i) through (ix) of any other Person that such Person has assumed or guaranteed or that are secured by a
Lien on any Property of such Person (provided that if any such liability or obligation of such other Person is not the legal liability of such Person, the amount thereof shall be deemed to be the lesser of (1) the actual amount of such
liability or obligation and (2) the book value of such Person’s Property securing such liability or obligation) and (xi) any other obligation for borrowed money or other financial accommodation which in accordance with GAAP would be
shown as a liability on the consolidated balance sheet of such Person. The Indebtedness of such Person shall include the Indebtedness of any partnership in which such Person is a general partner. 

“Initial Term Loan” is defined in Section 2.2(a). 

“Initial Term Loan Commitment” is defined in the definition of “Term Loan Commitment.” 

“Intellectual Property Security Agreements” means the intellectual property security agreements as the Company or any
Domestic Subsidiary Guarantor may from time to time make in favor of the Agent for the benefit of the Holders of Secured Obligations, in each case as the same may be amended, restated, supplemented or otherwise modified from time to time.

 “Interest Period” means, with respect to a Eurocurrency Advance, a period of one, two, three or six months
(or, if deposits in the relevant Agreed Currency in the Eurocurrency interbank market are available to all Revolving Lenders (in the case of Revolving Loans) or Term Loan Lenders (in the case of Term Loans) for such period, as determined by each
such Lender in its sole discretion, twelve months) commencing on a Business Day selected by the applicable Borrower pursuant to this Agreement. Such Interest Period shall end on the day which corresponds numerically to such date one, two, three or
six months (or, if applicable, twelve months) thereafter, provided, however, that if there is no such numerically corresponding day in such next, second, third or sixth (or, if applicable, twelfth) succeeding month, such Interest Period shall
end on the last Business Day of such next, second, third or sixth (or, if applicable, twelfth) succeeding month. If an Interest Period would otherwise end on a day which is not a Business Day, such Interest Period shall end on the next succeeding
Business Day, provided, however, that if said next succeeding Business Day falls in a new calendar month, such Interest Period shall end on the immediately preceding Business Day. 

  
 15 

 “Investment” of a Person means any loan, advance (other than commission,
travel and similar advances to officers and employees made in the ordinary course of business), extension of credit (other than accounts receivable arising in the ordinary course of business on terms customary in the trade) or contribution of
capital by such Person; stocks, bonds, mutual funds, partnership interests, notes, debentures or other securities owned by such Person; any deposit accounts and certificate of deposit owned by such Person; and structured notes, derivative financial
instruments and other similar instruments or contracts owned by such Person. 
 “JPMorgan” means JPMorgan Chase
Bank, N.A., a national banking association, in its individual capacity, and its successors. 
 “LC Fee” is
defined in Section 2.19.4. 
 “LC Issuer” means (i) JPMorgan (or any subsidiary or affiliate of
JPMorgan designated by JPMorgan) in its separate capacity as an issuer of Facility LCs hereunder with respect to each Facility LC issued or deemed issued by JPMorgan upon the Company’s request and (ii) any other Lender (other than
JPMorgan) selected by the Company with the consent of such Lender in such Lender’s separate capacity as an issuer of Facility LCs hereunder with respect to any and all Facility LCs issued or deemed issued by such Lender in its sole discretion
upon the Company’s request; provided, that, unless the Agent shall otherwise consent, there shall not at any time be more than three (3) Lenders constituting LC Issuers hereunder. All references contained in this Agreement and the
other Loan Documents to “the LC Issuer” shall be deemed to apply equally to each of the institutions referred to in clauses (i) and (ii) of this definition in their respective capacities as issuers of any and all Facility LCs
issued by each such institution. 
 “LC Obligations” means, at any time, the sum, without duplication, of
(i) the aggregate undrawn stated Dollar Amount under all Facility LCs outstanding at such time plus (ii) the aggregate unpaid Dollar Amount at such time of all Reimbursement Obligations. The LC Obligations of any Lender at any time
shall be its Revolving Loan Pro Rata Share of the total LC Obligations at such time. 
 “LC Payment Date” is
defined in Section 2.19.5. 
 “Lenders” means the Revolving Lenders, the Term Loan Lenders and, unless
otherwise specified, the Swing Line Lender. For the avoidance of doubt, the term “Lenders” excludes Departing Lenders. 
 “Lending Installation” means, with respect to a Lender or the Agent, the office, branch, subsidiary or affiliate of such Lender or the Agent provided on an administrative questionnaire
furnished to the Agent or otherwise selected by such Lender or the Agent pursuant to Section 2.17. 
 “Letter of
Credit” of a Person means a letter of credit or similar instrument which is issued upon the application of such Person or upon which such Person is an account party or for which such Person is in any way liable. 

  
 16 

 “Leverage Ratio” means, at any date of determination, the ratio of
Consolidated Indebtedness on such date to Consolidated EBITDA for the period of four consecutive fiscal quarters of the Company most recently ended as of such date. As of the end of any fiscal quarter (but not for two successive quarters and
excluding any Holiday Quarter), the Company may use Net Consolidated Indebtedness instead of Consolidated Indebtedness to determine the Leverage Ratio; provided that as of such date of determination no Loans (other than Term Loans) are
outstanding under this Agreement. For purposes of this definition, if at any time the Leverage Ratio is being determined the Company or any Subsidiary shall have completed a Permitted Acquisition or an Asset Sale since the beginning of the relevant
four fiscal quarter period, the Leverage Ratio shall be determined on a pro forma basis reasonably acceptable to the Agent after giving effect to such Acquisition or Asset Sale, as if such Permitted Acquisition or Asset Sale, any related incurrence
or repayment of Indebtedness, had occurred at the beginning of such period. 
 “Lien” means any lien (statutory
or other), security interest, mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without
limitation, the interest of a vendor or lessor under any conditional sale, Capitalized Lease or other title retention agreement). 
 “Loan” means a Revolving Loan, a Term Loan or a Swing Line Loan. 

“Loan Documents” means this Agreement, the Facility LC Applications, any Notes issued pursuant to Section 2.13, the
Collateral Documents and the Guarantees. 
 “Loan Party” means each Borrower, each Guarantor and each Foreign
Law Pledgor. 
 “Mandatory Cost” is described in the Mandatory Cost Schedule. 

“Mandatory Cost Schedule” means the Schedule attached hereto identified as such. 

“Material Adverse Effect” means a material adverse effect on (i) the business, Property, condition (financial or
otherwise) or results of operations of the Company and its Subsidiaries taken as a whole, (ii) the ability of the Company to perform its obligations under the Loan Documents to which it is a party, or (iii) the validity or enforceability
of any of the Loan Documents or the rights or remedies of the Agent, the LC Issuer or the Lenders thereunder. 

“Material Domestic Subsidiary” means (i) any Domestic Subsidiary directly holding any Equity Interest in a Material
Foreign Subsidiary, (ii) any Domestic Subsidiary directly or indirectly holding any Equity Interest in a Foreign Subsidiary Borrower or (iii) any Domestic Subsidiary (on a consolidated basis with its Subsidiaries) either (a) having
assets (other than Equity Interests in Material Foreign Subsidiaries) which represent 10% or more of the Consolidated Assets of the Company and its Subsidiaries or (b) responsible for 10% or more of the Consolidated Operating Income of the
Company and its Subsidiaries. “Material Domestic Subsidiary” shall not include any special-purpose Subsidiary created to engage solely in a Qualified Receivables Transaction. Schedule 1.2 lists all of the Company’s Material Domestic
Subsidiaries and their respective jurisdictions of organization as of the Closing Date. 
 “Material Foreign
Subsidiary” means any Foreign Subsidiary any Equity Interests of which are held by the Company or by any Domestic Subsidiary and that, on a consolidated basis with its Subsidiaries, directly or indirectly, either (a) has assets which
represent 10% or more of the Consolidated Assets of the Company and its Subsidiaries or (b) is responsible for 10% or more of the Consolidated Operating Income of the Company and its Subsidiaries. Schedule 1.3 lists all of the Company’s
Material Foreign Subsidiaries and their respective jurisdictions of organization as of the Closing Date. 

  
 17 

 “Material Indebtedness” means Indebtedness (other than Rate Management
Obligations) in an outstanding principal amount of $10,000,000 or more in the aggregate (or the equivalent thereof in any currency other than Dollars). 
 “Material Indebtedness Agreement” means any agreement under which any Material Indebtedness was created or is governed or which provides for the incurrence of Indebtedness in an amount
which would constitute Material Indebtedness (whether or not an amount of Indebtedness constituting Material Indebtedness is outstanding thereunder). 
 “Material Subsidiary” means (i) any Subsidiary, or group of Subsidiaries on a combined basis, that constitutes a Substantial Portion of the Property of the Company and its
Subsidiaries or (ii) any Subsidiary that, directly or indirectly, holds any Equity Interest in a Foreign Subsidiary Borrower. 
 “Maximum Foreign Currency Amount” means $250,000,000. 

“Maximum Foreign Subsidiary Borrower Amount” means $250,000,000. 

“Modify” and “Modification” are defined in Section 2.19.1. 

“Moody’s” means Moody’s Investors Service, Inc. and its successors. 

“Moody’s Rating” means, at any time, the rating issued by Moody’s and then in effect with respect to the
Company’s senior unsecured long-term debt securities without third-party credit enhancement. 
 “Multiemployer
Plan” means a Plan maintained pursuant to a collective bargaining agreement or any other arrangement to which the Company or any member of the Controlled Group is a party to which more than one employer is obligated to make contributions.

 “Multiple Employer Plan” means a Plan that has two or more contributing sponsors (including the Company or
any member of the Controlled Group) at least two of whom are not under common control, as such plan is described in Sections 4062 and 4064 of ERISA. 
 “Net Cash Proceeds” means, with respect to any Asset Sale, the cash proceeds (including cash proceeds subsequently received (as and when received) in respect of non-cash consideration
initially received), net of (i) selling expenses (including reasonable broker’s fees or commissions, legal fees, transfer and similar taxes and the Company’s good faith estimate of income taxes paid or payable in connection with such
sale), (ii) amounts provided as a reserve, in accordance with GAAP, against any liabilities under any indemnification obligations associated with such Asset Sale (provided that, to the extent and at the time any such amounts are released
from such reserve, such amounts shall constitute Net Cash Proceeds), (iii) the Company’s good faith estimate of payments required to be made with respect to unassumed liabilities relating to the assets sold within 90 days of such Asset
Sale (provided that, to the extent such cash proceeds are not used to make payments in respect of such unassumed liabilities within 90 days of such Asset Sale, such cash proceeds shall constitute Net Cash Proceeds) and (iv) the principal
amount, premium or penalty, if any, interest and other amounts on any Indebtedness for borrowed money which to the extent permitted hereunder and under the Collateral Documents is secured by the asset sold in such Asset Sale and which is repaid with
such proceeds (other than any such Indebtedness assumed by the purchaser of such asset). 
 “Net Consolidated
Indebtedness” means at any time (i) Consolidated Indebtedness minus (ii) an amount equal to the lesser of (a) the aggregate amount of unrestricted cash or Cash Equivalent Investments of the Company and its Subsidiaries
free and clear of all Liens other than Liens in favor of the Agent for the benefit of the Holders of Secured Obligations and nonconsensual Liens permitted by Section 6.15 in excess of $5,000,000 and (b) the aggregate amount of cash or Cash
Equivalent Investments of the Company and its Subsidiaries maintained with any of the Lenders and/or their affiliates. 

  
 18 

 “Net Mark-to-Market Exposure” of a Person means, as of any date of
determination, the excess (if any) of all unrealized losses over all unrealized profits of such Person arising from Rate Management Transactions. “Unrealized losses” means the fair market value of the cost to such Person of replacing such
Rate Management Transaction as of the date of determination (assuming the Rate Management Transaction were to be terminated as of that date), and “unrealized profits” means the fair market value of the gain to such Person of replacing such
Rate Management Transaction as of the date of determination (assuming such Rate Management Transaction were to be terminated as of that date). 
 “Non-cash Interest Expense” means, with reference to any period, the amortization of debt issue cost and bond discount amortization with respect to this Agreement, the Senior Note
Indebtedness and Subordinated Indebtedness of the Company and its Subsidiaries calculated on a consolidated basis for such period. 
 “Non-U.S. Lender” is defined in Section 3.5.4. 

“Note” is defined in Section 2.13. 
 “Obligations” means all unpaid principal of and accrued and unpaid interest on the Loans, all Reimbursement Obligations, all accrued and unpaid fees and all expenses, reimbursements,
indemnities and other obligations of the Borrowers to the Lenders or to any Lender, the Agent, the LC Issuer or any indemnified party arising under the Loan Documents (excluding the Parallel Debt). The term includes, without limitation, all
interest, charges, expenses, fees, attorneys’ fees and disbursements, paralegals’ fees (in each case whether or not allowed or allowable), and any other sum chargeable to the Borrowers or any other Loan Party under this Agreement or any
other Loan Document. 
 “Opening Pro Forma Compliance Certificate” is defined in Section 4.1(a)(x).

 “Operating Lease” of a Person means any lease of Property (other than a Capitalized Lease) by such Person as
lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more. 
 “Other Connection Taxes” means, with respect to any recipient, taxes imposed as a result of a present or former connection between such recipient and the jurisdiction imposing such taxes
(other than a connection arising from such recipient having executed, delivered, enforced, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, or engaged in any other
transaction pursuant to, or enforced, any Loan Document, or sold or assigned an interest in any Loan Document). 

“Other Taxes” is defined in Section 3.5.2 and excludes UK Tax. 

“Outstanding Revolving Credit Exposure” means, as to any Lender at any time, the sum of (i) the aggregate principal
Dollar Amount of its Revolving Loans outstanding at such time, plus (ii) an amount equal to its Revolving Loan Pro Rata Share of the aggregate principal amount of Swing Line Loans outstanding at such time, plus (iii) an
amount equal to its Revolving Loan Pro Rata Share of the LC Obligations at such time. 

  
 19 

 “Overnight Foreign Currency Rate” means, for any amount payable in a
Foreign Currency, the rate of interest per annum as determined by the Agent at which overnight or weekend deposits in the relevant currency (or if such amount due remains unpaid for more than three (3) Business Days, then for such other period
of time as the Agent may elect) for delivery in immediately available and freely transferable funds would be offered by the Agent to major banks in the interbank market upon request of such major banks for the relevant currency as determined above
and in an amount comparable to the unpaid principal amount of the related Credit Event, plus any taxes, levies, imposts, duties, deductions, charges or withholdings imposed upon, or charged to, the Agent by any relevant correspondent bank in respect
of such amount in such relevant currency. 
 “Parallel Debt” is defined in Section 10.17.1. 

“Parent” means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary.

 “Participants” is defined in Section 12.2.1. 

“Payment Date” means the first day of each March, June, September and December of each year. 

“PBGC” means the Pension Benefit Guaranty Corporation, or any successor thereto. 

“Permitted Acquisition” means any Acquisition made by the Company or any of its Subsidiaries, provided that,
(a) as of the date of the consummation of such Acquisition, no Default or Unmatured Default shall have occurred and be continuing or would result from such Acquisition, and the representation and warranty contained in Section 5.11 shall be
true both before and after giving effect to such Acquisition, (b) such Acquisition is consummated on a non-hostile basis pursuant to a negotiated acquisition agreement approved by the board of directors or other applicable governing body of the
seller or entity to be acquired, and no material challenge to such Acquisition (excluding the exercise of appraisal rights) shall be pending or threatened by any shareholder or director of the seller or entity to be acquired, (c) the business
to be acquired in such Acquisition is reasonably related to industrial manufacturing and distribution (including the rental of industrial equipment and the provision of services related to industrial equipment), (d) as of the date of the
consummation of such Acquisition, all material approvals required in connection therewith shall have been obtained, (e) the Company shall have furnished to the Agent a certificate demonstrating in reasonable detail compliance with the financial
covenants contained in Section 6.19 for such period (in the case of Section 6.19.1, using the Leverage Ratio level that will be applicable at the end of the fiscal quarter in which such Acquisition occurs in light of the circumstances at
such time) in each case, calculated on a pro forma basis reasonably acceptable to the Agent after giving effect to such Acquisition, which calculations shall be made in good faith by a Financial Officer in a manner consistent with Regulation S-X of
the Exchange Act or shall otherwise be reasonably identifiable and factually supportable, as if such Acquisition, including the consideration therefor, had been consummated on the first day of such period, and (f) if such Acquisition is a
Specified Acquisition, the Company shall have furnished to the Agent reasonably detailed projections of calculations of the financial covenants contained in Sections 6.19.1 and 6.19.2 on a pro forma basis reasonably acceptable to the Agent after
giving effect to such Acquisition, which calculations shall be made in good faith by a Financial Officer in a manner consistent with Regulation S-X of the Exchange Act or shall otherwise be reasonably identifiable and factually supportable, for the
then-current fiscal quarter and the following three fiscal quarters that demonstrate projected compliance with such covenants for such periods. 

  
 20 

 “Permitted Convertible Note Redemption” means any voluntary redemption of
Convertible Notes by the Company in accordance with the terms of the Convertible Note Indenture, provided that (a) the Company shall not be permitted to issue a notice of redemption to the trustee under the Convertible Note Indenture
unless the Closing Sale Price (as defined in the Convertible Note Indenture) of the Company’s Class A common stock on at least 20 Trading Days (as defined in the Convertible Note Indenture), whether or not consecutive, in the period of 30
consecutive Trading Days ending on the last Trading Day of the immediately preceding fiscal quarter exceeds 120% of the Conversion Price (as defined in the convertible Note Indenture) on the last Trading Day of such immediately preceding fiscal
quarter, (b) no Default has occurred or is continuing, or would result from such redemption, and (c) the Company shall at all times from and including the date it issues a notice of redemption through the date fixed for redemption and
specified in such notice, maintain unrestricted cash or Cash Equivalent Investments (free and clear of all Liens other than Liens in favor of the Agent for the benefit of the Holders of Secured Obligations and nonconsensual Liens permitted by
Section 6.15) plus undrawn availability under the Aggregate Revolving Loan Commitment in the aggregate amount that will be required to repay in full all principal, interest, contingent interest, fees, liquidated damages and any other
amount due in respect of the Convertible Notes identified in the applicable notice of redemption if such Convertible Notes were to be redeemed in full and not converted into common stock. 

“Permitted Factoring Transaction” means (a) a sale by the Company or any Subsidiary of accounts receivable pursuant
to an accelerated payment program established by a customer of the Company or such Subsidiary or (b) any other sale by any Foreign Subsidiary to any Person of accounts receivable or notes receivable; provided, that the aggregate face
amount of accounts receivable and notes receivable subject to all such sales does not exceed $50,000,000 during any fiscal year. 
 “Permitted Refinancing Subordinated Indebtedness” means any replacement, renewal, refinancing or extension of any Subordinated Indebtedness permitted by this Agreement with Subordinated
Indebtedness (subject to the terms and conditions set forth in the definition thereof) that (i) does not exceed the aggregate principal amount the Subordinated Indebtedness being replaced, renewed, refinanced or extended and (ii) does not
have a maturity date or any installment, sinking fund, mandatory redemption or other principal payment due before the earlier of (a) the date 180 days after the Revolving Loan Termination Date or (b) the date of any comparable principal
payment under the terms of the Subordinated Indebtedness being replaced, renewed, refinanced or extended. 

“Person” means any natural person, corporation, firm, joint venture, partnership, limited liability company,
association, enterprise, trust or other entity or organization, or any government or political subdivision or any agency, department or instrumentality thereof. 
 “Plan” means an employee pension benefit plan which is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Code as to which the Company
or any member of the Controlled Group may have any liability. 
 “Pounds Sterling” means the lawful currency of
the United Kingdom. 
 “Pricing Schedule” means the Schedule attached hereto identified as such. 

“Prime Rate” means the rate of interest per annum publicly announced from time to time by JPMorgan as its prime rate in
effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 

“Property” of a Person means any and all property, whether real, personal, tangible, intangible, or mixed, of such
Person, or other assets owned, leased or operated by such Person. 

  
 21 

 “Pro Rata Share” means, with respect to any Lender, the percentage obtained
by dividing (i) the sum of such Lender’s Revolving Loan Commitment and Term Loans at such time by (ii) the sum of the Aggregate Revolving Loan Commitment and the aggregate amount of all of the Term Loans at such time; provided,
however, that if all of the Revolving Loan Commitments are terminated pursuant to the terms of this Agreement, then “Pro Rata Share” means the percentage obtained by dividing (a) the sum of such Lender’s Outstanding
Revolving Credit Exposure and Term Loans at such time by (b) the sum of the Aggregate Outstanding Revolving Credit Exposure and the aggregate amount of all of the Term Loans at such time; provided, further, that in the case of
Section 2.21, when a Defaulting Lender shall exist, “Pro Rata Share” shall mean the percentage of the total Revolving Loan Commitment and Term Loans (disregarding any Defaulting Lender’s Revolving Loan Commitment) represented by
such Lender’s Revolving Loan Commitment and Term Loans. If the Revolving Loan Commitments have terminated or expired, the Pro Rata Shares shall be determined based upon the Revolving Loan Commitments most recently in effect, giving effect to
any assignments and to any Lender’s status as a Defaulting Lender at the time of determination. 

“Purchasers” is defined in Section 12.3.1. 

“Qualified Receivables Transaction” means any transaction or series of transactions entered into by the Company or any
Subsidiary pursuant to which the Company or any Subsidiary may sell, convey or otherwise transfer to a newly-formed Subsidiary or other special-purpose entity, or any other Person, any accounts or notes receivable and rights related thereto,
provided that (i) all of the terms and conditions of such transaction or series of transactions, including without limitation the amount and type of any recourse to the Company or any Subsidiary with respect to the assets transferred,
are reasonably acceptable to the Agent and the Required Lenders and (ii) the Indebtedness and/or Receivables Transaction Attributed Indebtedness incurred in respect of all such transactions or series of transactions does not exceed $75,000,000
at any time. 
 “Rate Management Obligations” of a Person means any and all obligations of such Person, whether
absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (i) any and all Rate Management Transactions, and
(ii) any and all cancellations, buy backs, reversals, terminations or assignments of any Rate Management Transactions. 

“Rate Management Transaction” means any transaction (including an agreement with respect thereto) now existing or
hereafter entered by the Company or any Subsidiary which is a rate swap, basis swap, forward rate transaction, commodity swap, commodity option, equity or equity index swap, equity or equity index option, bond option, interest rate option, foreign
exchange transaction, cap transaction, floor transaction, collar transaction, forward transaction, currency swap transaction, cross-currency rate swap transaction, currency option or any other similar transaction (including any option with respect
to any of these transactions) or any combination thereof, whether linked to one or more interest rates, foreign currencies, commodity prices, equity prices or other financial measures. 

“Receivables Transaction Attributed Indebtedness” means the amount of obligations outstanding under the legal documents
entered into as part of any Qualified Receivables Transaction on any date of determination that would be characterized as principal if such Qualified Receivables Transaction were structured as a secured lending transaction rather than as a purchase.

 “Regulation” means the Council of the European Union Regulation No. 1346/2000 on Insolvency
Proceedings. 

  
 22 

 “Regulation D” means Regulation D of the Board as from time to time in
effect and any successor thereto or other regulation or official interpretation of said Board relating to reserve requirements applicable to member banks of the Federal Reserve System. 

“Regulation U” means Regulation U of the Board as from time to time in effect and any successor or other regulation or
official interpretation of said Board relating to the extension of credit by banks for the purpose of purchasing or carrying margin stocks applicable to member banks of the Federal Reserve System. 

“Reimbursement Obligations” means, at any time, the aggregate of all obligations of the Company then outstanding under
Section 2.19 to reimburse the LC Issuer for amounts paid by the LC Issuer in respect of any one or more drawings under Facility LCs. 
 “Rentals” of a Person means the aggregate fixed amounts payable by such Person under any Operating Lease. 
 “Reportable Event” means a reportable event as defined in Section 4043 of ERISA and the regulations issued under such section, with respect to a Plan, excluding, however, such events
as to which the PBGC has by regulation waived the requirement of Section 4043(a) of ERISA that it be notified within 30 days of the occurrence of such event, provided, however, that a failure to meet the minimum funding standard of
Section 412 of the Code and of Section 302 of ERISA shall be a Reportable Event regardless of the issuance of any such waiver of the notice requirement in accordance with either Section 4043(a) of ERISA or Section 412(c) of the
Code. 
 “Required Lenders” means Lenders in the aggregate having greater than 50% of the sum of (i) the
unused Aggregate Revolving Loan Commitment, (ii) the Aggregate Outstanding Revolving Credit Exposure and (iii) the Term Loans at such time. 
 “Required Revolving Lenders” means Revolving Lenders in the aggregate having greater than 50% of the sum of the unused Aggregate Revolving Loan Commitment and the Aggregate Outstanding
Revolving Credit Exposure at such time. 
 “Revolving Lender” means any lending institution listed on the
Commitment Schedule or in any Commitment Supplement delivered hereunder having a Revolving Loan Commitment, and its respective successors and assigns. 
 “Revolving Loan” means, with respect to a Lender, such Lender’s loan made pursuant to its commitment to lend set forth in Section 2.1 (or any conversion or continuation
thereof). 
 “Revolving Loan Commitment” means, for each Revolving Lender, the obligation of such Revolving
Lender from and after the Closing Date to make Revolving Loans to the Borrowers, and participate in Facility LCs issued upon the application of and Swing Line Loans made at the request of the Company, in an aggregate amount not exceeding the amount
set forth on the Commitment Schedule or in any Commitment Supplement delivered pursuant to Section 2.5(c), as such Revolving Loan Commitment may be modified as a result of any assignment that has become effective pursuant to Section 12.3.2
or as otherwise modified from time to time pursuant to the terms hereof. 
 “Revolving Loan Facility” means the
portion of the credit facility evidenced by this Agreement consisting of the several Revolving Loans, Swing Line Loans and Facility LCs. 

  
 23 

 “Revolving Loan Pro Rata Share” means, at any time, with respect to any
Revolving Lender, the percentage obtained by dividing (i) such Lender’s Revolving Loan Commitment at such time by (ii) the Aggregate Revolving Loan Commitment at such time; provided, however, that if all of the Revolving
Loan Commitments are terminated pursuant to the terms of this Agreement, then “Revolving Loan Pro Rata Share” means the percentage obtained by dividing (a) such Lender’s Outstanding Revolving Credit Exposure at such time by
(b) the Aggregate Outstanding Revolving Credit Exposure at such time; provided, further, that in the case of Section 2.21, when a Defaulting Lender shall exist, “Revolving Loan Pro Rata Share” shall mean the percentage of
the total Revolving Loan Commitments (disregarding any Defaulting Lender’s Revolving Loan Commitment) represented by such Lender’s Revolving Loan Commitment. If the Revolving Loan Commitments have terminated or expired, the Revolving Loan
Pro Rata Share shall be determined based upon the Revolving Loan Commitments most recently in effect, giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination. 

“Revolving Loan Termination Date” means February 23, 2016, or any earlier date on which the Aggregate Revolving
Loan Commitment is reduced to zero or otherwise terminated pursuant to the terms hereof. 
 “S&P” means
Standard and Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. and its successors. 
 “S&P
Rating” means, at any time, the rating issued by S&P and then in effect with respect to the Company’s senior unsecured long-term debt securities without third-party credit enhancement. 

“Sale and Leaseback Transaction” means any sale or other transfer of Property by any Person with the intent to lease
such Property as lessee. 
 “Schedule” refers to a specific schedule to this Agreement, unless another document
is specifically referenced. 
 “Section” means a numbered section of this Agreement, unless another document is
specifically referenced. 
 “Secured Obligations” means, collectively, (i) the Obligations and
(ii) all Rate Management Obligations and Banking Services Obligations owing by the Company or any of its Subsidiaries to one or more Lenders or their respective Affiliates. 

“Security Agreement” means that certain Amended and Restated Pledge and Security Agreement, dated as of the Closing
Date, executed by the Company and the Domestic Subsidiary Guarantors in favor of the Agent, for the benefit of the Holders of Secured Obligations, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

 “Senior Leverage Ratio” means, at any date of determination, the ratio of Consolidated Senior Indebtedness
on such date to Consolidated EBITDA for the period of four consecutive fiscal quarters of the Company most recently ended as of such date. 
 “Senior Note Indebtedness” means (i) Indebtedness of the Company under the 2007 Senior Note Indenture and the 2007 Senior Notes and (ii) any other senior unsecured Indebtedness
of the Company or its Subsidiaries under any notes or convertible notes permitted hereunder and issued under an indenture, loan agreement, note purchase agreement or similar governing instrument or document in a registered public offering or a Rule
144A or other private placement transaction, all of the terms and conditions of which are reasonably acceptable to the Agent (including the absence of a maturity date or any installment, sinking fund, mandatory redemption or other principal payment
due before the date 180 days after the Revolving Loan Termination Date); provided, that terms that are substantially similar to (or less restrictive than) those set forth in the 2007 Senior Note Indenture immediately prior to any refinancing
thereof shall be deemed acceptable, except that such new notes do not need to contain terms with respect to transfer restrictions. 

  
 24 

 “Senior Notes” means, collectively (i) the 2007 Senior Notes and
(ii) any other senior unsecured notes or convertible notes evidencing Senior Note Indebtedness permitted hereunder, as the same may be amended, restated, supplemented or otherwise modified from time to time in a manner permitted by the terms
hereof. 
 “Senior Note Documents” means the (i) the 2007 Senior Notes and the 2007 Senior Notes Indenture
and (ii) any other Senior Notes or any indenture, loan or purchase agreement governing such other Senior Notes and any other documents delivered pursuant thereto, as the same may be amended, restated, supplemented or otherwise modified from
time to time in a manner permitted by the terms hereof. 
 “Single Employer Plan” means a Plan maintained by
the Company or any member of the Controlled Group for employees of the Company or any member of the Controlled Group. 

“Solvent” means, with respect to any Person on a particular date, that on such date (a) the fair value of the
property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person; (b) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay
the probable liability of such Person on its debts as they become absolute and matured; (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and
liabilities mature; (d) such Person is not engaged in a business or transaction, and is not about to engage in a business or transaction, for which such Person’s property would constitute an unreasonably small capital; and (e) such
Person is otherwise able to pay its debts as they fall due. The amount of contingent liabilities (such as litigation, guarantees and pension plan liabilities) at any time shall be computed as the amount that, in light of all the facts and
circumstances existing at the time, represents the amount that can be reasonably be expected to become an actual or matured liability. 
 “Specified Acquisition” means a Permitted Acquisition with respect to which the aggregate consideration provided by the Company and its Subsidiaries is equal to or greater than
$75,000,000. 
 “Specified Financing Transactions” means collectively, (a) the execution and delivery of
the Senior Note Indenture and the issuance of the Senior Notes thereunder, (b) the execution and delivery of the Convertible Note Indenture and the issuance of the Convertible Notes thereunder, (c) the execution and delivery of the Loan
Documents, and (d) the execution and delivery of documentation evidencing Senior Note Indebtedness or Subordinated Note Indebtedness of the Company incurred pursuant to Section 6.11(xiv) and the issuance of such Indebtedness. 

“Statutory Reserve Rate” means, with respect to any currency, a fraction (expressed as a decimal), the numerator of
which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve, liquid asset, fees or similar requirements (including any marginal, special, emergency or supplemental reserves or other
requirements) established by any central bank, monetary authority, the Board, the Financial Services Authority, the European Central Bank or other Governmental Authority for any category of deposits or liabilities customarily used to fund loans in
such currency, expressed in the case of each such requirement as a decimal. Such reserve, liquid asset, fees or similar requirements shall, in the case of Dollar denominated Loans, include those imposed pursuant to Regulation D of the Board.
Eurocurrency Loans shall be deemed to be subject to such reserve, liquid asset, fee or similar requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under any applicable
law, rule or regulation, including Regulation D of the Board. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve, liquid asset or similar requirement. 

  
 25 

 “Subordinated Indebtedness” means (i) the Company’s Convertible
Notes in the aggregate principal amount of $117,843,000 outstanding on the Closing Date, (ii) additional Indebtedness of the Company, the payment of which is subordinated to payment of the Obligations and all of the terms and conditions of
which are reasonably acceptable to the Agent (including the absence of a maturity date or any installment, sinking fund, mandatory redemption or other principal payment due before at least 180 days after the Revolving Loan Termination Date),
provided, in each case, that, for the avoidance of doubt, unsecured Indebtedness that is not contractually subordinated to payment of the Obligations shall not constitute Subordinated Indebtedness. 

“Subordinated Indebtedness Documents” means any document, agreement or instrument evidencing any Subordinated
Indebtedness or entered into in connection with any Subordinated Indebtedness, as the same may be amended, restated, supplemented or otherwise modified from time to time in a manner permitted by the terms hereof. 

“Subsidiary” of a Person means (i) any corporation more than 50% of the outstanding securities having ordinary
voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, or (ii) any partnership, limited liability
company, association, joint venture or similar business organization more than 50% of the ownership interests having ordinary voting power of which shall at the time be so owned or controlled. Unless otherwise expressly provided, all references
herein to a “Subsidiary” shall mean a Subsidiary of the Company. 
 “Subsidiary Borrower Termination”
means a Subsidiary Borrower Termination in substantially the form of Exhibit H hereto. 
 “Subsidiary
Guarantor” means each of the Initial Guarantors, each Domestic Subsidiary Guarantor and each Foreign Subsidiary that delivers a Subsidiary Guaranty. 
 “Subsidiary Guaranty” means the Domestic Subsidiary Guaranty or any other guaranty executed and delivered by a Domestic Subsidiary pursuant to Section 6.21 or by a Foreign Subsidiary
Borrower pursuant to Section or 16.2. 
 “Substantial Portion” means, with respect to the Property of the
Company and its Subsidiaries, Property which represents more than 10% of the Consolidated Assets of the Company and its Subsidiaries or property which is responsible for more than 10% of the consolidated net sales or of the Consolidated Net Income
of the Company and its Subsidiaries, in each case, as would be shown in the consolidated financial statements of the Company and its Subsidiaries as at the beginning of the twelve-month period ending with the month in which such determination is
made (or if financial statements have not been delivered hereunder for that month which begins the twelve-month period, then the financial statements delivered hereunder for the quarter ending immediately prior to that month). 

“Swing Line Borrowing Notice” is defined in Section 2.4.2. 

  
 26 

 “Swing Line Exposure” means, at any time, the aggregate principal amount of
all Swing Line Loans outstanding at such time. The Swing Line Exposure of any Lender at any time shall be its Revolving Loan Pro Rata Share of the total Swing Line Exposure at such time. 

“Swing Line Lender” means JPMorgan or such other Lender which may succeed to its rights and obligations as Swing Line
Lender pursuant to the terms of this Agreement. 
 “Swing Line Loan” means a Loan made available to the Company
by the Swing Line Lender pursuant to Section 2.4. 
 “TARGET” means Trans-European Automated Real-time
Gross Settlement Express Transfer payment system (or, if such payment system ceases to be operative, such other payment system (if any) reasonably determined by the Agent to be a suitable replacement) for the settlement of payments in euro.

 “Taxes” means any and all present or future taxes, duties, levies, imposts, deductions, charges or
withholdings imposed on or with respect to any payment made by the Loan Parties under any Loan Document, and any and all liabilities with respect to the foregoing, but excluding Excluded Taxes, Other Taxes and UK Taxes. 

“Term Loan” means each Initial Term Loan and each Incremental Term Loan, and “Term Loans” means all such Loans
collectively. 
 “Term Loan Commitment” means, for each Term Loan Lender, the obligation of such Term Loan
Lender to make Term Loans to the Company (a) on the Closing Date in an aggregate amount equal to the amount set forth on the Commitment Schedule (an “Initial Term Loan Commitment”) or (b) on any future Borrowing Date
designated with respect to a tranche of Incremental Term Loans in an aggregate amount equal to the amount set forth in any Commitment Supplement delivered pursuant to Section 2.5(c) (an “Incremental Term Loan Commitment”), as
any such Term Loan Commitment may be modified as a result of any assignment that has become effective pursuant to Section 12.3.2 or as otherwise modified from time to time pursuant to the terms hereof. 

“Term Loan Facility” means the portion of the credit facility evidenced by this Agreement consisting of the Term Loans.

 “Term Loan Lender” means any lending institution listed on the Commitment Schedule or in any Commitment
Supplement delivered hereunder as having a Term Loan Commitment, and its respective successors and assigns. 
 “Term
Loan Pro Rata Share” means, with respect to any Term Loan Lender, the percentage obtained by dividing (i) such Lender’s Term Loans at such time by (ii) the aggregate amount of the Term Loans at such time. 

“Transferee” is defined in Section 12.4. 
 “Type” means, with respect to any Advance, its nature as a Floating Rate Advance or a Eurocurrency Advance and with respect to any Loan, its nature as a Floating Rate Loan or a
Eurocurrency Loan. 
 “UCC” means the Uniform Commercial Code as in effect from time to time in the State of
Illinois or any other state the laws of which are required to be applied in connection with the issue of perfection of security interests. 

  
 27 

 “UK Borrower” means each of Actuant Limited and Actuant Finance Limited,
each a UK Subsidiary, in each case, unless such Subsidiary has ceased to constitute a Foreign Subsidiary Borrower pursuant to Section 2.24.2. 
 “UK Insolvency Event” means: 
 (a) a UK Relevant
Entity is unable or admits in writing its inability to pay its debts as they fall due, suspends making payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its
creditors with a view to rescheduling any of its indebtedness; 
 (b) the value of the assets of any UK Relevant
Entity is less than its liabilities (taking into account contingent and prospective liabilities); 
 (c) a
moratorium is declared in respect of any indebtedness of any UK Relevant Entity; 
 (d) any corporate action,
legal proceedings or other procedure or step is taken in relation to: 
  

	 	(i)	the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution, administration or reorganisation (by way of voluntary arrangement, scheme of
arrangement or otherwise) of any UK Relevant Entity (other than a solvent liquidation or reorganisation that is not a Borrower or Guarantor); 

  

	 	(ii)	a composition, compromise, assignment or arrangement with any creditor of any UK Relevant Entity; 

 

	 	(iii)	the appointment of a liquidator (other than a solvent liquidation or reorganisation that is not a Borrower or Guarantor), receiver, administrative receiver,
administrator, compulsory manager or other similar officer in respect of any UK Relevant Entity, or any of its assets; or 

  

	 	(iv)	enforcement of any security over any assets of any UK Relevant Entity, 

 or any analogous procedure or step is taken in any jurisdiction; provided, that this paragraph (d) shall not apply to any winding-up petition which is frivolous or vexatious and is discharged,
stayed or dismissed within 30 days of commencement; and 
 (e) any expropriation, attachment, sequestration,
distress or execution or any analogous process in any jurisdiction affects any asset or assets of a UK Relevant Entity having an aggregate value of $10,000,000 and is not discharged within 30 days; 

provided, that paragraphs (a), (b), (c), (d)(ii) and (d)(iv) of this definition shall not apply to any UK Relevant Entity that is not a UK
Borrower or UK Subsidiary. 
 “UK Relevant Entity” means any UK Borrower, any UK Subsidiary that is a Material
Subsidiary, or any Borrower or Material Subsidiary capable of becoming the subject of an order for winding-up or administration under the Insolvency Act 1986 of the United Kingdom. 

  
 28 

 “UK Subsidiary” means a Subsidiary of the Company organized under the laws
of England and Wales. 
 “UK Tax” means any tax, levy, impost, duty or other charge or withholding of a similar
nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same) imposed by the government of the United Kingdom or any political subdivision thereof and any agency, authority,
instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government of the United Kingdom. 

“Unfunded Liabilities” means the amount (if any) by which the present value of all vested and unvested accrued benefits
under all Single Employer Plans exceeds the fair market value of all such Plan assets allocable to such benefits, all determined as of the then most recent valuation date for such Plans using PBGC actuarial assumptions for single employer plan
terminations. 
 “Unmatured Default” means an event which but for the lapse of time or the giving of notice, or
both, would constitute a Default. 
 “USA PATRIOT Act” means the USA PATRIOT Act (Title III of Pub. L. 107-56
(signed into law October 26, 2001)), as amended. 
 “Voting Equity Interests” means Equity Interests which
at the time are entitled to vote in the election of, as applicable, directors, members or partners generally. 
 “Voting
Stock” means any class or classes of capital stock of the Company pursuant to which the holders thereof have the general voting power under ordinary circumstances to elect at least a majority of the board of directors of the Company.

 “Wholly-Owned Subsidiary” of a Person means (i) any Subsidiary all of the outstanding voting securities
of which shall at the time be owned or controlled, directly or indirectly, by such Person or one or more Wholly-Owned Subsidiaries of such Person, or by such Person and one or more Wholly-Owned Subsidiaries of such Person, or (ii) any
partnership, limited liability company, association, joint venture or similar business organization 100% of the ownership interests having ordinary voting power of which shall at the time be so owned or controlled. 

1.2. Terms Generally. 
 1.2.1. The foregoing definitions shall be equally applicable to both the singular and plural forms of the defined terms. 

1.2.2. In this agreement, where it relates to a Dutch entity, a reference to: (i) a lien or security interest
includes any mortgage (hypotheek), pledge (pandrecht), retention of title arrangement (eigendomsvoorbehoud), privilege (voorrecht), right of retention (recht van retentie), right to reclaim goods (recht van
reclame), and, in general, any right in rem (beperkte recht) created for the purpose of granting security (goederenrechtelijk zekerheidsrecht), (ii) a bankruptcy or insolvency (and any of those terms) includes a Dutch entity
being declared bankrupt (failliet verklaard) or dissolved (ontbonden), (iii) a moratorium includes surseance van betaling and granted a moratorium includes surseance verleend, (iv) any step or procedure taken in
connection with insolvency proceedings includes a Dutch entity having filed a notice under section 36 of the Dutch Tax Collection Act (Invorderingswet 1990), (v) a receiver includes a curator and (vi) a custodian includes a
bewindvoerder. 

  
 29 

 1.3. Amendment and Restatement of the Existing Credit Agreement. 

The parties to this Agreement agree that, upon (i) the execution and delivery by each of the parties hereto of this Agreement and
(ii) satisfaction of the conditions set forth in Section 4.1, the terms and provisions of the Existing Credit Agreement shall be and hereby are amended, superseded and restated in their entirety by the terms and provisions of this
Agreement. This Agreement is not intended to and shall not constitute a novation. All “Loans” made and “Obligations” incurred under and as defined in the Existing Credit Agreement which are outstanding on the Closing Date shall
continue as Loans and Obligations under (and shall be governed by the terms of) this Agreement and the other Loan Documents, subject to any Departing Lender’s receipt of payment in full in cash in immediately available funds of the Loans and
other amounts owing to such Departing Lender under the Existing Credit Agreement as described below. Without limiting the foregoing, upon the effectiveness hereof: 

(a) all references in the Existing Loan Documents to the “Agent”, the “Credit Agreement” and the
“Loan Documents” shall be deemed to refer to the Agent, this Agreement and the Loan Documents, respectively; 
 (b) the Existing Letters of Credit which remain outstanding on the Closing Date shall continue as Letters of Credit under (and shall be governed by the terms of) this Agreement; 

(c) all obligations constituting “Secured Obligations” (under and as defined in the Existing Credit Agreement)
with any Lender (other than a Departing Lender) or any Affiliate of any Lender (other than a Departing Lender) which are outstanding on the Closing Date shall continue as Secured Obligations under this Agreement and the other Loan Documents;

 (d) each of the Borrowers, as debtor, grantor, pledgor, guarantor, or another similar capacity in which such
Borrower grants liens or security interests in its properties or otherwise acts as a guarantor, joint or several obligor or other accommodation party, as the case may be, in each case under the Existing Loan Documents, hereby each (i) ratifies
and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the Existing Loan Documents to which it is a party, (ii) to the extent such Borrower granted liens on or security interests in any of its
properties pursuant to any of the Existing Loan Documents, hereby ratifies and reaffirms such grant of security (and any filings with Governmental Authorities made in connection therewith) and confirms that such liens and security interests continue
to secure the Secured Obligations, including, without limitation, all additional Obligations resulting from or incurred pursuant to this Agreement and (iii) to the extent such Borrower guaranteed, was jointly or severally liable, or provided
other accommodations with respect to, the “Secured Obligations” under and as defined in the Existing Credit Agreement or any portion thereof pursuant to any of the Existing Loan Documents, hereby ratifies and reaffirms such guaranties,
liabilities and other accommodations; 
 (e) notwithstanding any provisions to the contrary in the Existing
Credit Agreement, the Agent shall make such reallocations, sales, assignments or other relevant actions in respect of each Lender’s credit and loan exposure under the Existing Credit Agreement as are necessary in order that each such
Lender’s Outstanding Revolving Credit Exposure hereunder reflects such Lender’s Revolving Loan Pro Rata Share of the Aggregate Outstanding Revolving Credit Exposure on the Closing Date; 

  
 30 

 (f) the Existing Loans of each Departing Lender shall be repaid in full in
cash in immediately available funds (accompanied by any accrued and unpaid interest and fees thereon and any other amounts or liabilities owing to each Departing Lender under the Existing Credit Agreement), each Departing Lender’s
“Revolving Loan Commitment” under the Existing Credit Agreement shall immediately terminate and be of no further force and effect, each Departing Lender shall not be a Lender for any purpose hereunder (except to the extent of any
indemnification under the Existing Credit Agreement that is meant to continue to apply to such Departing Lender by its express terms), and such Departing Lender shall be released from any obligation or liability under the Existing Credit Agreement;
and 
 (g) the Company hereby agrees to compensate each Lender and each Departing Lender for any and all losses,
costs and expenses incurred by such Lender in connection with the sale and assignment of any Eurocurrency Loans (including the “Eurocurrency Loans” under the Existing Credit Agreement) and such reallocation described above, in each case on
the terms and in the manner set forth in Section 3.4 hereof. 
 Without limiting the forgoing, the parties hereto (including, without
limitation, each Departing Lender) hereby agree that the consent of any Departing Lender shall be limited to the acknowledgements and agreements set forth in this Section 1.3 and shall not be required as a condition to the effectiveness of any
other amendments, restatements, supplements or modifications to the Existing Credit Agreement or the Loan Documents. 
 1.4.
Termination of Existing Dutch Borrower. 
 The Company hereby terminates the status of Applied Power Europa B.V., a
besloten vennootschap met beperkte aansprakelijkheid and a Dutch Subsidiary (solely as used in this Section 1.4, the “Terminated Dutch Borrower”), as a Foreign Subsidiary Borrower under the Existing Credit Agreement, and
JPMorgan Chase Bank, N.A. hereby cancels that certain Deed of Pledge of registered shares in Applied Power Europa B.V. dated 2 December 2009 between inter alia the Agent, as pledgee, Engineered Solutions, L.P., as pledgor, the Terminated
Dutch Borrower, as the company, and the Company, as Actuant) (the “Cancelled Pledge”), pursuant to Section 11.1 of the Cancelled Pledge, the pledges and contractual arrangements created by the Cancelled Pledge on the Equity
Interests in the Terminated Dutch Borrower. The Company hereby acknowledges notice of such cancellation on behalf of itself, the Terminated Dutch Borrower and Engineered Solutions, L.P. The Company represents and warrants that no Loans made to the
Terminated Dutch Borrower under the Existing Credit Agreement are outstanding as of the date hereof and that all amounts payable by the Terminated Dutch Borrower in respect of interest and/or fees (and, to the extent notified by the Agent or any
Lender, any other amounts payable under the Credit Agreement) pursuant to the Credit Agreement have been paid in full on or prior to the date hereof. Nothing in this Section 1.4 shall (i) prohibit the Terminated Dutch Borrower from later
becoming a Dutch Borrower and a Foreign Subsidiary Borrower hereunder in accordance with the terms of Section 2.24.1 of this Agreement or (ii) limit the obligation of Company or its Subsidiaries to later repledge the Equity Interests of
the Terminated Dutch Borrower to the extent required by Section 6.21 of this Agreement. 

  
 31 

 ARTICLE II 
 THE CREDITS 
 2.1. Revolving Loans. 

(a) Existing Loans. Prior to the Closing Date, certain “Revolving Loans” were previously made to the
Borrowers under (and as defined in) the Existing Credit Agreement which remain outstanding as of the date of this Agreement (such outstanding loans being hereinafter referred to as the “Existing Loans”). Subject to the terms and
conditions set forth in this Agreement, the Borrowers and each of the Lenders agree that on the Closing Date but subject to the satisfaction of the conditions precedent set forth in Article IV and the reallocation and other transactions described in
Section 1.3, the Existing Loans shall be reevidenced as Revolving Loans under this Agreement and the terms of the Existing Loans shall be restated in their entirety and shall be evidenced by this Agreement. 

(b) Commitments. From and including the Closing Date and prior to the Revolving Loan Termination Date, each
Revolving Lender severally agrees, on the terms and conditions set forth in this Agreement and subject to Section 2.7(b)(ii) and 2.7(d), to (i) make Revolving Loans to the Borrowers in Agreed Currencies and (ii) participate in
Facility LCs issued and Swing Line Loans made upon the request of the Company, in each case, in a Dollar Amount not to exceed in the aggregate at any one time outstanding its Revolving Loan Pro Rata Share of the Available Aggregate Revolving Loan
Commitment, provided that, after giving effect to the making of each such Loan and the issuance of each such Facility LC, (i) such Lender’s Outstanding Revolving Credit Exposure shall not exceed its Revolving Loan Commitment, and the
Aggregate Outstanding Revolving Credit Exposure shall not exceed the Aggregate Revolving Loan Commitment, (ii) the aggregate outstanding principal Dollar Amount of all Eurocurrency Advances and LC Obligations in Foreign Currencies shall not
exceed the Maximum Foreign Currency Amount and (iii) the aggregate outstanding principal Dollar Amount of all Revolving Loans made to the Foreign Subsidiary Borrowers shall not exceed the Maximum Foreign Subsidiary Borrower Amount. Subject to
the terms of this Agreement, a Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitment of each Revolving Lender shall expire on the Revolving Loan Termination
Date. The LC Issuer will issue Facility LCs hereunder on the terms and conditions set forth in Section 2.19. 
 (c) Repayment of Revolving Loans. On the Revolving Loan Termination Date, each Borrower shall repay in full the outstanding principal balance of its Revolving Loans and all other unpaid Obligations
owing by such Borrower to the Revolving Lenders. 
 2.2. Term Loans. 

(a) Commitment. Each Term Loan Lender severally agrees, on the terms and conditions set forth in this Agreement,
(a) on the Closing Date, to make a term loan, in Dollars, to the Company in an amount equal to such Term Loan Lender’s respective Initial Term Loan Commitment (each individually, an “Initial Term Loan” and, collectively,
the “Initial Term Loans”), and (b) on each Borrowing Date with respect to a tranche of Incremental Term Loans requested pursuant to Section 2.5(c), to make a term loan, in Dollars, to the Company in an amount equal to such
Term Loan Lender’s respective Incremental Term Loan Commitment as in effect on such date. The Initial Term Loan Commitment of each Term Loan Lender shall expire on the Closing Date. The Incremental Term Loan Commitment of each Term Loan Lender
shall expire on the Borrowing Date designated for such Incremental Term Loan in accordance with Section 2.5(c). 
 (b) [Reserved] 
 (c) Repayment of Term
Loans. 

  
 32 

 (i) Repayment of the Term Loans. The Initial Term Loans shall be repaid in
(A) consecutive quarterly installments, commencing with the calendar quarter ending March 31, 2012 and continuing for each calendar quarter thereafter through the Revolving Loan Termination Date, and (B) one (1) final installment
on the Revolving Loan Termination Date. Each payment described in the foregoing clause (A) shall be due and payable on the last Business Day of the applicable calendar quarter. The Term Loans shall be permanently reduced by the amount of each
installment on the date payment thereof is made hereunder. The installment for each calendar quarter with respect to the Initial Term Loans shall be in the amounts set forth below opposite the last day of such calendar quarter: 

 

					
	 Calendar Quarter Ended:
	  	 Installment Amount Due:
	 
	 March 31, 2012
	  	$	1,250,000	  
	 June 30, 2012
	  	$	1,250,000	  
	 September 30, 2012
	  	$	1,250,000	  
	 December 31, 2012
	  	$	1,250,000	  
	 March 31, 2013
	  	$	2,500,000	  
	 June 30, 2013
	  	$	2,500,000	  
	 September 30, 2013
	  	$	2,500,000	  
	 December 31, 2013
	  	$	2,500,000	  
	 March 31, 2014
	  	$	2,500,000	  
	 June 30, 2014
	  	$	2,500,000	  
	 September 30, 2014
	  	$	2,500,000	  
	 December 31, 2014
	  	$	2,500,000	  
	 March 31, 2015
	  	$	2,500,000	  
	 June 30, 2015
	  	$	2,500,000	  
	 September 30, 2015
	  	$	2,500,000	  
	 December 31, 2015
	  	$	2,500,000	  
	 Revolving Loan Termination Date
	  	$	65,000,000	  

 The unpaid principal balance
of the Term Loans shall be due and payable in full on the Revolving Loan Termination Date. No installment of any Term Loan shall be reborrowed once repaid. 
 (ii) Voluntary Prepayments. In addition to the scheduled payments on the Term Loans, the Company may make the voluntary prepayments described in Section 2.7(a), with such prepayments
applied ratably to reduce all outstanding installments under the Term Loans. 
 2.3. Ratable Loans; Types of Advances.
Each Advance of Revolving Loans hereunder (but not any Swing Line Loan) shall consist of Revolving Loans made from the several Revolving Lenders ratably according to their Revolving Loan Pro Rata Shares. Each Advance of Term Loans hereunder shall
consist of Term Loans made from the several Term Loan Lenders ratably in the proportion that their respective Term Loan Commitments bear to all of the then current Aggregate Term Loan Commitment. The Advances may be Floating Rate Advances or
Eurocurrency Advances, or a combination thereof, selected by the applicable Borrower in accordance with Sections 2.8 and 2.9, or Swing Line Loans selected by the Company in accordance with Section 2.4. 

2.4. Swing Line Loans. 
 2.4.1. Amount of Swing Line Loans. Upon the satisfaction of the conditions precedent set forth in Section 4.3 and, if such Swing Line Loan is to be made on the date of the initial Advance
hereunder, the satisfaction of the conditions precedent set forth in Section 4.1 as well, from and including the Closing Date and prior to the Revolving Loan Termination Date, the Swing Line Lender may, in its sole discretion, on the terms and
conditions set forth in this Agreement, make Swing Line Loans to the Company from time to time, in Dollars, in an aggregate principal amount not to exceed $25,000,000 at any one time outstanding, provided that subject to
Section 2.7(b)(ii) and 2.7(d), the Aggregate Outstanding Revolving Credit Exposure shall not at any time exceed the Aggregate Revolving Loan Commitment, and provided further that at no time shall the sum of (i) the Swing Line Loans,
plus (ii) the Dollar Amount of the outstanding Revolving Loans made by the Swing Line Lender pursuant to Section 2.1, plus (iii) the Swing Line Lender’s Revolving Loan Pro Rata Share of the LC Obligations, exceed the Swing
Line Lender’s Revolving Loan Commitment at such time. Subject to the terms of this Agreement, the Company may borrow, repay and reborrow Swing Line Loans at any time prior to the Revolving Loan Termination Date. 

  
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 2.4.2. Borrowing Notice. The Company shall deliver to the Agent and
the Swing Line Lender irrevocable notice (a “Swing Line Borrowing Notice”) not later than noon (Chicago time) on the Borrowing Date of each Swing Line Loan, specifying (i) the applicable Borrowing Date (which date shall be a
Business Day), and (ii) the aggregate amount of the requested Swing Line Loan which shall be an amount not less than $100,000. The Swing Line Loans shall bear interest at the Floating Rate. 

2.4.3. Making of Swing Line Loans. Promptly after receipt of a Swing Line Borrowing Notice, the Agent shall notify
each Lender by fax, or other similar form of transmission, of the requested Swing Line Loan. Not later than 2:00 p.m. (Chicago time) on the applicable Borrowing Date, the Swing Line Lender may, in its sole discretion, make available the Swing Line
Loan, in funds immediately available in Chicago, to the Agent at its address specified pursuant to Article XIII. The Agent will promptly make the funds so received from the Swing Line Lender available to the Company on the Borrowing Date at the
Agent’s aforesaid address. If the Swing Line Lender elects, in its sole discretion, not to make such Swing Line Loan, the Swing Line Lender shall promptly notify the Agent, and the Agent shall promptly notify the Company and each Lender.

 2.4.4. Repayment of Swing Line Loans. Each Swing Line Loan shall be paid in full by the Company on or
before the tenth (10th) Business Day after the Borrowing Date for such Swing Line Loan. In addition, the Swing Line Lender (i) may at any time in its sole discretion with respect to any outstanding Swing Line Loan, or (ii) shall on
the tenth (10th) Business Day after the Borrowing Date of any Swing Line Loan, by notice to the Agent not later than 10:00 a.m. (Chicago Time) on any Business Day, require each Revolving Lender (including the Swing Line Lender) to make a
Revolving Loan in Dollars in the amount of such Revolving Lender’s Revolving Loan Pro Rata Share of such Swing Line Loan (including, without limitation, any interest accrued and unpaid thereon), for the purpose of repaying such Swing Line Loan.
Promptly upon receipt of such notice, the Agent shall give notice thereof to each Revolving Lender, specifying in such notice the amount of the Revolving Loan to be made by such Revolving Lender in connection with such Swing Line Loan. Not later
than noon (Chicago time) on the date of any notice received pursuant to this Section 2.4.4, each Revolving Lender shall make available its required Revolving Loan, in funds immediately available in Chicago to the Agent at its address specified
pursuant to Article XIII. Revolving Loans made pursuant to this Section 2.4.4 shall initially be Floating Rate Loans and thereafter may be continued as Floating Rate Loans or converted into Eurocurrency Loans in the manner provided in
Section 2.9 and subject to the other conditions and limitations set forth in this Article II. Unless a Revolving Lender shall have notified the Swing Line Lender, prior to its making any Swing Line Loan, that any applicable condition precedent
set forth in Sections 4.1 or 4.3 had not then been satisfied, such Lender’s obligation to make Revolving Loans pursuant to this Section 2.4.4 to repay Swing Line Loans shall be unconditional, continuing, irrevocable and absolute and shall
not be affected by any circumstances, including, without limitation, (a) any set-off, counterclaim, recoupment, defense or other right which such Revolving Lender may have against the Agent, the Swing Line Lender or any other Person,
(b) the occurrence or continuance of a Default or Unmatured Default, (c) any adverse change in the condition (financial or otherwise) of the Company, or (d) any other circumstances, happening or event whatsoever. In the event that any
Revolving Lender fails to make payment to the Agent of any amount due under this Section 2.4.4, the Agent shall be entitled to receive, retain and apply against such obligation the principal and interest otherwise payable to such Revolving
Lender hereunder until the Agent receives such payment from such Revolving Lender or such obligation is otherwise fully satisfied. In addition to the foregoing, if for any reason any Lender fails to make payment to the Agent of any amount due under
this Section 2.4.4, such Revolving Lender shall be deemed, at the option of the Agent, to have unconditionally and irrevocably purchased from the Swing Line Lender, without recourse or warranty, an undivided interest and participation in the
applicable Swing Line Loan in the amount of such Revolving Loan, and such interest and participation may be recovered from such Revolving Lender together with interest thereon at the Federal Funds Effective Rate for each day during the period
commencing on the date of demand and ending on the date such amount is received. On the Revolving Loan Termination Date, the Company shall repay in full the outstanding principal balance of the Swing Line Loans. 

  
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 2.5. Commitment Fee; Reduction in Aggregate Revolving Loan Commitment; Expansion
Option. 
 (a) Commitment Fee. The Company agrees to pay to the Agent for the account of each
Revolving Lender according to its Revolving Loan Pro Rata Share a commitment fee at a per annum rate equal to the Applicable Fee Rate on the average daily Available Aggregate Revolving Loan Commitment from the Closing Date to and including the
Revolving Loan Termination Date, payable on each Payment Date hereafter and on the Revolving Loan Termination Date. Swing Line Loans shall not count as usage of the Aggregate Revolving Loan Commitment for the purpose of calculating the commitment
fee due hereunder. 
 (b) Reduction in Aggregate Revolving Loan Commitment. The Borrowers may permanently
reduce the Aggregate Revolving Loan Commitment in whole, or in part ratably among the Revolving Lenders in a minimum amount of $5,000,000 and in integral multiples of $1,000,000 in excess thereof, upon at least three Business Days’ written
notice to the Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Revolving Loan Commitment may not be reduced below the Aggregate Outstanding Revolving Credit
Exposure. All accrued commitment fees shall be payable on the effective date of any termination of the obligations of the Revolving Lenders to make Credit Extensions hereunder. 

(c) Expansion Option. 
 (i) The Company may from time to time elect to increase the Aggregate Revolving Loan Commitment or enter into one or more tranches of term loans (each an “Incremental Term Loan”), in each
case in minimum amounts of $10,000,000 and increments of $5,000,000 so long as, after giving effect thereto, the aggregate amount of such increases in the Aggregate Revolving Loan Commitment and all such Incremental Term Loans does not exceed
$300,000,000. The Company may arrange for any such increase or tranche to be provided by one or more existing Lenders (each existing Lender so agreeing to an increase in its Revolving Loan Commitment, or to participate in such Incremental Term
Loans, an “Increasing Lender”), or by one or more new banks, financial institutions or other entities (each such new bank, financial institution or other entity, an “Augmenting Lender”), to increase their existing
Revolving Loan Commitments, or to participate in such Incremental Term Loans, or extend Revolving Loan Commitments, as the case may be; provided that (i) each Augmenting Lender, shall be subject to the approval of the Company and the Agent and,
in the case of an increase to the Aggregate Revolving Loan Commitments, JPMorgan in its capacity as LC Issuer (which consent shall not be unreasonably withheld or delayed), and (ii) (x) in the case of an Increasing Lender, the Company and
such Increasing Lender execute an agreement substantially in the form of Exhibit D-1 hereto, and (y) in the case of an Augmenting Lender, the Company and such Augmenting Lender execute an agreement substantially in the form of Exhibit D-2
hereto. No consent of any Lender (other than the Lenders participating in the increase to the Aggregate Revolving Loan Commitment or any Incremental Term Loan) shall be required for any increase in Revolving Loan Commitments or Incremental Term Loan
pursuant to this Section 2.5(c). Increases in and new Revolving Loan Commitments and Incremental Term Loans created pursuant to this Section 2.5(c) shall become effective on the date agreed by the Company, the Agent and the relevant
Increasing Lenders or Augmenting Lenders, and the Agent shall notify each Lender thereof. Notwithstanding the foregoing, no increase in the Aggregate Revolving Loan Commitment (or in the Revolving Loan Commitment of any Lender) or tranche of
Incremental Term Loans shall become effective under this paragraph unless: 

  
 35 

	 	(A)	on the proposed date of the effectiveness of such increase or Incremental Term Loans, (1) the conditions set forth in paragraphs (i) and (ii) of
Section 4.3 shall be satisfied or waived by the Required Lenders and the Agent shall have received a certificate to that effect dated such date and executed by a Financial Officer of the Company, (2) the Company shall be in compliance (on
a pro forma basis reasonably acceptable to the Agent) with the covenants contained in Section 6.19 as if (x) in the case of any Incremental Term Loan, such Incremental Term Loans had been outstanding on the last day of the most recent
fiscal quarter for which financial statements are available for testing compliance therewith or (y) in the case any increased Revolving Loan Commitments, all Revolving Loans available under the Aggregate Revolving Loan Commitment, including any
such increased Revolving Loan Commitments, had been outstanding on the last day of the most recent fiscal quarter for which financial statements are available for testing compliance therewith, and the Agent shall have received a certificate to that
effect dated such date and executed by a Financial Officer of the Company, and (3) without limiting the foregoing conditions (including the preceding clause (1) as it relates to the accuracy of the representation in Section 5.3 and
the absence of any Default or Unmatured Default under Section 7.5 generally), the Company shall demonstrate that such increase or Incremental Term Loans and the Liens securing such Indebtedness are permitted under the terms of the 2007 Senior
Note Indenture, and 

  

	 	(B)	the Agent shall have received documents consistent with those delivered pursuant to Section 4.1 or 4.2 as to the corporate power and authority of the Borrowers to
borrow hereunder after giving effect to such increase (including, without limitation, opinions of counsel for the Borrowers and the Guarantors in form and substance reasonably satisfactory to the Agent). 

(ii) On the effective date of any increase in the Revolving Loan Commitments or any Incremental Term Loans being made, (i) each
relevant Increasing Lender and Augmenting Lender shall make available to the Agent such amounts in immediately available funds as the Agent shall determine, for the benefit of the other Lenders, as being required in order to cause, after giving
effect to such increase and the use of such amounts to make payments to such other Lenders, each Lender’s portion of the outstanding Revolving Loans of all the Lenders to equal its Revolving Loan Pro Rata Share of such outstanding Revolving
Loans, and (ii) except in the case of any Incremental Term Loans, the Borrowers shall be deemed to have repaid and reborrowed all outstanding Revolving Loans as of the date of any increase in the Revolving Loan Commitments (with such
reborrowing to consist of the Types of Revolving Loans, in such Agreed Currencies and with related Interest Periods if applicable, specified in a Borrowing Notice delivered by the applicable Borrower, or the Company on behalf of the applicable
Borrower, in accordance with the requirements of Section 2.8). The deemed payments made pursuant to clause (ii) of the immediately preceding sentence shall be accompanied by payment of all accrued interest on the amount prepaid and, in
respect of each Eurocurrency Loan, shall be subject to indemnification by the applicable Borrowers pursuant to the provisions of Section 3.4 if the deemed payment occurs other than on the last day of the related Interest Periods. 

  
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 (iii) Any tranche of Incremental Term Loans (a) shall rank pari passu in right
of payment with the Revolving Loans and the then existing Term Loans, (b) shall not mature earlier than the Revolving Loan Termination Date, (c) shall not have a shorter weighted average life to maturity than the Revolving Loans and the
then existing Term Loans, and (d) shall be treated substantially the same as (and in any event no more favorably than) the Revolving Loans and then existing Term Loans; provided that (i) the terms and conditions applicable to any
tranche of Incremental Term Loans maturing after the Revolving Loan Termination Date may provide for material additional or different financial or other covenants or prepayment requirements applicable only during periods after the Revolving Loan
Termination Date and (ii) the Incremental Term Loans may be priced differently than the Revolving Loans and the then existing Term Loans. Incremental Term Loans may be made hereunder pursuant to an amendment or an amendment and restatement (an
“Incremental Term Loan Amendment”) of this Agreement and, as appropriate, the other Loan Documents, executed by the Company, each Increasing Lender participating in such tranche, each Augmenting Lender participating in such tranche,
if any, and the Agent. The Incremental Term Loan Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the
Agent, to effect the provisions of this Section 2.5(c). Nothing contained in this Section 2.5(c) shall constitute, or otherwise be deemed to be, a commitment on the part of any Lender to increase its Revolving Loan Commitment hereunder, or
provide Incremental Term Loans, at any time. 
 (iv) Any Augmenting Lender (A) if it is a Non-U.S. Lender, shall have
delivered tax certificates described in Section 3.5, which indicate that such Non-U.S. Lender is exempt from any withholding tax under the laws of the United States on payments by the Company in such jurisdiction, (B) in the case of a new
Revolving Loan Commitment or Revolving Loan, shall have confirmed that it is exempt from any withholding tax under the laws of the Netherlands on payments by Dutch Borrowers (unless the Company has confirmed in writing its intention not to add any
Dutch Borrowers to this Agreement under Section 2.24.1, or, following the addition of any Dutch Borrower under Such Section 2.24.1, all Dutch Borrowers have been removed from this Agreement pursuant to Section 2.24.2) and (C) in
the case of a new Revolving Loan Commitment or Revolving Loan, shall have provided to the Agent for the onward transmission to the relevant UK Borrower, in respect of Loans made to a UK Borrower, a tax certificate in the form set forth in Exhibit G
attached hereto (unless all UK Borrowers have been removed from this Agreement pursuant to Section 2.24.2). 
 2.6.
Minimum Amount of Each Advance. Each Eurocurrency Advance shall be in the minimum amount of $2,000,000 or the Approximate Equivalent Amount of any Foreign Currency (and in multiples of $1,000,000 or the Approximate Equivalent Amount of any
Foreign Currency if in excess thereof), and each Floating Rate Advance (other than an Advance to repay Swing Line Loans) shall be in the minimum amount of $250,000 (and in multiples of $250,000 if in excess thereof), provided, however, that
any Floating Rate Advance of Revolving Loans may be in the amount of the Available Aggregate Revolving Loan Commitment. In addition, the Borrowers shall select Eurocurrency Interest Periods under Sections 2.9 and 2.10 so that no more than ten
(10) Interest Periods shall be outstanding at any one time. The initial Revolving Loan from any Lender or Affiliate to each Dutch Borrower shall at all times be at least €50,000 (or its equivalent in another Agreed Currency). 

  
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 2.7. Prepayments; Termination. 

(a) Optional Principal Payments. The Borrowers may from time to time pay, without penalty or premium, all
outstanding Floating Rate Advances (other than Swing Line Loans), or, in a minimum aggregate amount of $250,000 or any integral multiple of $250,000 in excess thereof, any portion of the outstanding Floating Rate Advances (other than Swing Line
Loans) with notice to the Agent by 10:00 a.m. (Chicago time) on the date of repayment. The Company may at any time pay, without penalty or premium, all outstanding Swing Line Loans, or, in a minimum amount of $100,000 and increments of $50,000 in
excess thereof, any portion of the outstanding Swing Line Loans, with notice to the Agent and the Swing Line Lender by 11:00 a.m. (Chicago time) on the date of repayment. The Borrowers may from time to time pay, subject to the payment of any funding
indemnification amounts required by Section 3.4 but without penalty or premium, all outstanding Eurocurrency Advances, or, in a minimum aggregate amount of $2,000,000 or any integral multiple of $1,000,000 in excess thereof, any portion of the
outstanding Eurocurrency Advances upon three Business Days’ prior notice to the Agent. 
 (b) Mandatory
Prepayments/Reductions in Aggregate Revolving Loan Commitment. 
  

	 	(i)	Generally. If at any time, other than solely as a result of currency rate fluctuations, (A) the Dollar Amount of the Aggregate Outstanding Revolving Credit
Exposure exceeds the Aggregate Revolving Loan Commitment, (B) the aggregate Dollar Amount of all Eurocurrency Loans and LC Obligations in Foreign Currencies exceeds the Maximum Foreign Currency Amount or (C) the aggregate Dollar Amount of
all Revolving Loans made to the Foreign Subsidiary Borrowers exceeds the Maximum Foreign Subsidiary Borrower Amount, the Borrowers, for the ratable benefit of the Revolving Lenders, shall immediately prepay Revolving Loans (to be applied to such
Revolving Loans as the applicable Borrower shall direct at the time of such payment) in an aggregate amount such that after giving effect thereto (x) the Aggregate Outstanding Revolving Credit Exposure is less than or equal to the Aggregate
Revolving Loan Commitment, (y) the aggregate Dollar Amount of all Eurocurrency Loans and LC Obligations in Foreign Currencies is less than or equal to the Maximum Foreign Currency Amount, and (z) the aggregate Dollar Amount of all
Revolving Loans made to the Foreign Subsidiary Borrowers is less than or equal to the Maximum Foreign Subsidiary Borrower Amount. 

  

	 	(ii)	Currency Fluctuations. If at any time solely as a result of currency rate fluctuations (A) the Dollar Amount of the Aggregate Outstanding Revolving Credit
Exposure exceeds 105% of the Aggregate Revolving Loan Commitment, (B) the aggregate Dollar Amount of all Eurocurrency Loans and LC Obligations in Foreign Currencies exceeds 105% of the Maximum Foreign Currency Amount or (C) the aggregate
Dollar Amount of all Revolving Loans made to the Foreign Subsidiary Borrowers exceeds 105% of the Maximum Foreign Subsidiary Borrower Amount, the Borrowers, for the ratable benefit of the Revolving Lenders, shall within five (5) Business Days
of such occurrence prepay Revolving Loans (to be applied to such Revolving Loans as the applicable Borrower shall direct at the time of such payment) in an aggregate amount such that after giving effect thereto (x) the Aggregate Outstanding
Revolving Credit Exposure is less than or equal to the Aggregate Revolving Loan Commitment, (y) the aggregate Dollar Amount of all Eurocurrency Loans and LC Obligations in Foreign Currencies is less than or equal to the Maximum Foreign Currency
Amount, and (z) the aggregate Dollar Amount of all Revolving Loans made to the Foreign Subsidiary Borrowers is less than or equal to the Maximum Foreign Subsidiary Borrower Amount. 

  
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	 	(iii)	Asset Sale. Not later than the third Business Day following receipt of any Net Cash Proceeds of any Asset Sale, the Borrowers shall prepay outstanding Loans in
an amount equal to 100% of the Net Cash Proceeds received with respect thereto (subject to the provisions regarding application of prepayments set forth below); provided that no such prepayment shall be required hereunder unless, and only to
that extent that, the aggregate Net Cash Proceeds of Asset Sales during any four fiscal quarter period exceed 5% of Consolidated Assets (measured as of the last day of the most recently completed fiscal quarter); provided, further,
that no mandatory prepayment or reduction in Aggregate Revolving Loan Commitment shall be required pursuant to this Section 2.7(b)(iii) on account of such Net Cash Proceeds if, and to the extent that, the Company notifies the Agent in writing
within three Business Days following receipt of such Net Cash Proceeds of its or its Subsidiary’s good faith intention to apply such Net Cash Proceeds to the acquisition of other assets or Property to be used in its business within 120 days
following the receipt of such Net Cash Proceeds, with the amount of such Net Cash Proceeds unused after such 120-day period to be treated as Net Cash Proceeds in accordance with this Section 2.7(b)(iii). Amounts to be applied pursuant to this
Section 2.7(b)(iii) shall be applied first to the Term Loans (ratably to the Initial Term Loans and the Incremental Term Loans, in each case, in accordance with the principal amounts thereof), with such prepayment applied ratably to
reduce all remaining outstanding installments thereof, second to Swing Line Loans, third to Revolving Loans that are Floating Rate Loans and fourth to Revolving Loans that are Eurocurrency Loans, in each case, together with
accrued interest on the Loans being prepaid. All prepayments required by this Section 2.7(b)(iii) shall be subject to the payment of any funding indemnification amounts required by Section 3.4, but without penalty or premium. On each date
on which a prepayment of Revolving Loans under this Section 2.7(b)(iii) is required, or would be required but for the fact that no Revolving Loans are then outstanding: (A) the Aggregate Revolving Loan Commitment shall be reduced, ratably
among the Revolving Lenders, in an amount equal to the total amount of the required prepayment, regardless of whether sufficient Revolving Loans are outstanding for such amount to be applied as a prepayment, (B) if, after giving effect the
reduction required pursuant to clause (A) above, the aggregate undrawn stated amount under all Facility LCs outstanding at such time exceeds the Aggregate Revolving Loan Commitment, the Company shall pay to the Agent an amount equal to such
excess, which funds shall be held in the Facility LC Collateral Account for so long as such excess shall exist, subject to Section 8.1 in the event that a Default shall have occurred and be continuing; and (C) the Company shall deliver to
the Agent a certificate signed by a Financial Officer setting forth in reasonable detail the calculation of the amount of such prepayment and/or reduction in Aggregate Revolving Loan Commitment. Notwithstanding the foregoing, so long as no Default
has occurred and is then continuing and at the Company’s option, the Agent shall hold all prepayments pursuant to this clause (iii) to be applied to Eurocurrency Loans in escrow for the benefit of the Lenders and (x) the Agent shall
release such amounts upon the earlier of (1) thirty days after the date of such prepayment (provided that the Borrowers shall make all payments under Section 3.4 resulting therefrom) and (2) expiration of the Interest Periods
applicable to any such Eurocurrency Loans being prepaid, (y) interest shall continue to accrue on such Eurocurrency Loans until such time as such prepayments are released from escrow and applied to reduce such Eurocurrency Loans and
(z) the aggregate outstanding principal balance of the Eurocurrency Loans to be prepaid upon such release from escrow shall not be included in any calculation of Consolidated Indebtedness from and after the date such funds are placed in escrow;
provided, however, that upon the occurrence and continuance of a Default, such escrowed amounts may be applied to Eurocurrency Loans without regard to the expiration of any Interest Period and the Borrowers shall make all payments under
Section 3.4 resulting therefrom. 

  
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 (c) Termination. Notwithstanding the termination of the Revolving
Loan Commitments or the Term Loan Commitments hereunder or the occurrence of the Revolving Loan Termination Date, until all of the Obligations (other than contingent indemnity obligations) shall have been indefeasibly and fully paid and satisfied in
cash and all financing arrangements between the Borrowers and the Lenders hereunder and under the other Loan Documents shall have been terminated, all of the rights and remedies under this Agreement and the other Loan Documents shall survive.

 (d) Foreign Currency Calculations. For purposes of determining the Dollar Amount of the outstanding
Revolving Loans, LC Obligations, any other outstanding Credit Event or any other amount as a result of foreign currency exchange rate fluctuation, the Agent shall determine the Exchange Rate as of the applicable Exchange Rate Date with respect to
each Foreign Currency in which any requested or outstanding Advance or Facility LC is denominated and shall apply such Exchange Rates to determine such amount (in each case after giving effect to any Advances to be made or repaid and any Facility
LCs to be issued or Modified, to the extent practicable on or prior to the applicable date for such calculation). 
 2.8.
Method of Selecting Types and Interest Periods for New Advances; Funding of Advances. The applicable Borrower, or the Company on its behalf, shall select the Type of Advance and, in the case of each Eurocurrency Advance, the Interest Period
applicable thereto from time to time. The applicable Borrower, or the Company on its behalf, shall give the Agent irrevocable notice (a “Borrowing Notice”) not later than (i) 10:00 a.m. (Chicago time) on the Borrowing Date of
each Floating Rate Advance (other than a Swing Line Loan), (ii) 10:00 a.m. (Chicago time) three Business Days before the Borrowing Date for each Eurocurrency Advance denominated in Dollars and (iii) 10:00 a.m. (London time) four Business
Days before the Borrowing Date for each Eurocurrency Advance denominated in a Foreign Currency or to a Foreign Subsidiary Borrower, specifying: 
  

	 	(i)	the applicable Borrower with respect to such Advance, 

  

	 	(ii)	the Borrowing Date, which shall be a Business Day, of such Advance, 

  

	 	(iii)	the aggregate amount of such Advance and whether such Advance consists of Revolving Loans or Term Loans, 

 

	 	(iv)	the Type of Advance selected, 

  

	 	(v)	in the case of each Eurocurrency Advance, the Interest Period and Agreed Currency applicable thereto, and 

 

	 	(vi)	the location and number of the account of such Borrower to which funds are to be disbursed. 

  
 40 

 Borrowing Notices may be delivered to the Agent (x) by e-mail, telephone or telecopy, if with respect
to an Advance denominated in Dollars and (y) by telecopy, if with respect to an Advance denominated in a Foreign Currency. Promptly following receipt of a Borrowing Notice in accordance with this Section, the Agent shall advise each Revolving
Lender of the details thereof and the amount of the Loan to be made by such Lender as part of the requested Advance. 
 Not later than noon
(Chicago time) on each Borrowing Date, each applicable Lender shall make available its Loan or Loans in immediately available funds in the applicable Agreed Currency in Chicago to the Agent at its address specified pursuant to Article XIII, unless
the Agent has notified the Lenders that such Loan is to be made available to the applicable Borrower at the Agent’s Eurocurrency Payment Office, in which case each Lender shall make available its Loan or Loans, in funds immediately available to
the Agent at its Eurocurrency Payment Office, not later than 1:00 p.m. (local time in the city of the Agent’s Eurocurrency Payment Office) in the applicable Agreed Currency. The Agent will make the funds so received from the Lenders available
to the applicable Borrower at the Agent’s aforesaid address. 
 Each Lender at its option may make any Eurocurrency Loan by causing any
domestic or foreign branch or Affiliate of such Lender to make such Loan (and in the case of an Affiliate, the provisions of this Agreement (including, without limitation, Sections 3.1 through 3.6 and 9.6) shall apply to such Affiliate to the same
extent as to such Lender); provided that any exercise of such option shall not affect the obligation of the applicable Borrower to repay such Loan in accordance with the terms of this Agreement. 

2.9. Conversion and Continuation of Outstanding Advances. Floating Rate Advances (other than Swing Line Loans) shall continue as
Floating Rate Advances unless and until such Floating Rate Advances are converted into Eurocurrency Advances pursuant to this Section 2.9 or are repaid in accordance with Section 2.1, 2.2(c) or 2.7. Each Eurocurrency Advance shall continue
as a Eurocurrency Advance until the end of the then applicable Interest Period therefor, at which time such Eurocurrency Advance (other than Eurocurrency Advances in Foreign Currencies) shall be automatically converted into a Floating Rate Advance
unless (a) such Eurocurrency Advance is or was repaid in accordance with Section 2.1, 2.2(c) or 2.7 or (b) the applicable Borrower, or the Company on its behalf, shall have given the Agent a Conversion/Continuation Notice (as defined
below) requesting that, at the end of such Interest Period, such Eurocurrency Advance continue as a Eurocurrency Advance for the same or another Interest Period. Unless a Conversion/Continuation Notice shall have timely been given in accordance with
the terms of this Section 2.9, Eurocurrency Advances in a Foreign Currency shall automatically continue as Eurocurrency Advances in the same Foreign Currency with an Interest Period of one (1) month. Subject to the terms of
Section 2.6, the applicable Borrower, or the Company on its behalf, may elect from time to time to convert all or any part of a Floating Rate Advance (other than a Swing Line Loan) into a Eurocurrency Advance. The applicable Borrower, or the
Company on its behalf, shall give the Agent irrevocable notice (a “Conversion/Continuation Notice”) by (x) e-mail, telephone or telecopy, if with respect to an Advance denominated in Dollars and (y) telecopy, if with
respect to an Advance denominated in a Foreign Currency, of each conversion of a Floating Rate Advance into a Eurocurrency Advance or continuation of a Eurocurrency Advance not later than 10:00 a.m. (Chicago time) at least (x) three Business
Days prior to the date of the requested conversion or continuation of an Advance in Dollars and (y) four Business Days prior to the date of the requested continuation of a Eurocurrency Advance in a Foreign Currency or to a Foreign Subsidiary
Borrower, specifying: 
  

	 	(i)	the requested date, which shall be a Business Day, of such conversion or continuation, 

 

	 	(ii)	the aggregate amount and Type of the Advance which is to be converted or continued and whether such Advance consists of Revolving Loans or Term Loans, and

  
 41 

	 	(iii)	the amount of such Advance which is to be converted into or continued as a Eurocurrency Advance and the duration of the Interest Period applicable thereto.

 Notwithstanding anything herein to the contrary, Eurocurrency Advances in an Agreed Currency may be converted and/or continued
as Eurocurrency Advances only in the same Agreed Currency. 
 2.10. Changes in Interest Rate, etc. Each Floating Rate
Advance (other than a Swing Line Loan) shall bear interest on the outstanding principal amount thereof, for each day from and including the date such Advance is made or is automatically converted from a Eurocurrency Advance into a Floating Rate
Advance pursuant to Section 2.9, to but excluding the date it is paid or is converted into a Eurocurrency Advance pursuant to Section 2.9 hereof, at a rate per annum equal to the Floating Rate for such day. Each Swing Line Loan shall bear
interest on the outstanding principal amount thereof, for each day from and including the day such Swing Line Loan is made to but excluding the date it is paid, at a rate per annum equal to the Floating Rate for such day. Changes in the rate of
interest on that portion of any Advance maintained as a Floating Rate Advance will take effect simultaneously with each change in the Alternate Base Rate. Each Eurocurrency Advance shall bear interest on the outstanding principal amount thereof from
and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at the interest rate determined by the Agent as applicable to such Eurocurrency Advance based upon the applicable
Borrower’s selections under Sections 2.8 and 2.9 and otherwise in accordance with the terms hereof. Notwithstanding anything herein to the contrary, no Borrower may select an Interest Period that ends after the Revolving Loan Termination Date.

 2.11. Rates Applicable After Default. Notwithstanding anything to the contrary contained in Section 2.8, 2.9 or
2.10, during the continuance of a Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of Section 8.2 requiring unanimous
consent of the Lenders to changes in interest rates), declare that no Advance denominated in Dollars may be made as, converted into or continued as a Eurocurrency Advance and no Advance denominated in a Foreign Currency may have an Interest Period
longer than one (1) month. During the continuance of a Default the Required Lenders may, at their option, by notice to the Company (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of
Section 8.2 requiring unanimous consent of the Lenders to changes in interest rates), declare that (i) each Eurocurrency Advance shall bear interest for the remainder of the applicable Interest Period at the rate otherwise applicable to
such Interest Period plus 2% per annum, (ii) each Floating Rate Advance shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum, (iii) the LC Fee shall be
increased by 2% per annum and (iv) any other amount due and payable hereunder (including interest and fees) shall bear interest at a rate per annum equal to the Floating Rate in effect from time to time plus 2% per annum,
provided that, during the continuance of a Default under Section 7.6 or 7.7, the interest rates set forth in clauses (i) and (ii) above and the increase in the LC Fee and other amounts set forth in clause (iii) and
(iv) above shall be applicable to all Credit Extensions without any election or action on the part of the Agent or any Lender. 
 2.12. Method of Payment. 
 (a) All payments of the
Obligations hereunder shall be made, without setoff, deduction, or counterclaim, in immediately available funds to the Agent (i) at the Agent’s address specified pursuant to Article XIII in immediately available funds with respect to
Advances or other Obligations denominated in Dollars and (ii) at the Agent’s Eurocurrency Payment Office in immediately available funds with respect to any Advance or other Obligations denominated in a Foreign Currency, or at any other
Lending Installation of the Agent specified in writing by the Agent to the Borrowers, by noon (local time) on the date when due and shall (except (i) with respect to repayments of Swing Line Loans, (ii) in the case of Reimbursement
Obligations for which the LC Issuer has not been fully indemnified by the Lenders, or (iii) as otherwise specifically required hereunder) be applied ratably by the Agent among the applicable Lenders. Each Advance shall be repaid or prepaid in
the Agreed Currency in which it was made in the amount borrowed and interest payable thereon shall also be paid in such Agreed Currency. Each payment delivered to the Agent for the account of any Lender shall be delivered promptly by the Agent to
such Lender in the same type of funds that the Agent received at its address specified pursuant to Article XIII or at any Lending Installation specified in a notice received by the Agent from such Lender. The Agent is hereby authorized to charge the
account of each Borrower maintained with JPMorgan (or its Affiliates) for each payment of principal, interest, Reimbursement Obligations and fees as it becomes due hereunder (it being understood and agreed that the Agent shall not charge the account
of any Foreign Subsidiary Borrower for any payment of principal or interest on Loans made to the Company, or for fees incurred by the Company). Each reference to the Agent in this Section 2.12 shall also be deemed to refer, and shall apply
equally, to the LC Issuer, in the case of payments required to be made by the Company to the LC Issuer pursuant to Section 2.19.6. 

  
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 (b) Notwithstanding the foregoing provisions of this Section, if, after the
making of any Credit Event in any currency other than Dollars, currency control or exchange regulations are imposed in the country which issues such currency with the result that different types of such Agreed Currency (the “New
Currency”) are introduced and the type of currency in which the Credit Event was made (the “Original Currency”) no longer exists or the applicable Borrower is not able to make payment to the Agent for the account of the
applicable Lenders or to the LC Issuer in such Original Currency, then all payments to be made by such Borrower hereunder in such currency shall be made to the Agent or the LC Issuer in such amount and such type of the New Currency or Dollars as
shall be equivalent to the amount of such payment otherwise due hereunder in the Original Currency, it being the intention of the parties hereto that the applicable Borrower take all risks of the imposition of any such currency control or exchange
regulations. In addition, notwithstanding the foregoing provisions of this Section, if, after the making of any Credit Event in any currency other than Dollars, any Borrower is not able to make payment to the Agent for the account of the Lenders or
to the LC Issuer in the type of currency in which such Credit Event was made because of the imposition of any such currency control or exchange regulation, then such Credit Event shall instead be repaid when due in Dollars in a principal amount
equal to the Dollar Amount (as of the date of repayment) of such Credit Event, it being the intention of the parties hereto that the Borrowers take all risks of the imposition of any such currency control or exchange regulations, and each Borrower
agrees to indemnify and hold harmless the Agent, the LC Issuer and the Lenders from and against any loss resulting from any Credit Event made to or for the benefit of such Borrower denominated in a Foreign Currency that is not repaid to the Agent,
the LC Issuer or the Lenders, as the case may be, in the Original Currency. 
 2.13. Noteless Agreement; Evidence of
Indebtedness. (a) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrowers to such Lender resulting from each Loan made by such Lender from time to time, including
the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 
 (b) The
Agent shall also maintain accounts in which it will record (a) the amount of each Loan made hereunder, the Type thereof and the Agreed Currency and Interest Period (if any) with respect thereto, (b) the amount of any principal or interest
due and payable or to become due and payable from each Borrower to each Lender hereunder, (c) the original stated amount of each Facility LC and the amount of LC Obligations outstanding at any time, and (d) the amount of any sum received
by the Agent hereunder from the Borrowers and each Lender’s share thereof. 
 (c) The entries maintained in
the accounts maintained pursuant to paragraphs (i) and (ii) above shall be prima facie evidence (absent manifest error) of the existence and amounts of the Obligations therein recorded; provided, however, that the failure of the Agent or
any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrowers to repay the Obligations in accordance with their terms. 

  
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 (d) Any Lender may request that its Loans be evidenced by a promissory note
or, in the case of the Swing Line Lender, promissory notes representing its Revolving Loans and Swing Line Loans, respectively, substantially in the form of Exhibit E-1, with appropriate changes for notes evidencing Swing Line Loans, or representing
its Term Loans substantially in the form of Exhibit E-2 (each a “Note”). In such event, the applicable Borrower or Borrowers shall prepare, execute and deliver to such Lender such Note or Notes payable to such Lender in a form
supplied by the Agent. Thereafter, the Loans evidenced by any such Note and interest thereon shall at all times (prior to any assignment pursuant to Section 12.3) be represented by one or more Notes payable to the payee named therein, except to
the extent that any such Lender subsequently returns any such Note for cancellation and requests that such Loans once again be evidenced as described in paragraphs (i) and (ii) above. 

2.14. Telephonic Notices. To the extent specified in Sections 2.8 and 2.9, each Borrower hereby authorizes the Lenders and the
Agent to extend, convert or continue Advances, effect selections of Types of Advances and to transfer funds based on telephonic notices made by any person or persons the Agent or any Lender in good faith believes to be acting on behalf of such
Borrower, it being understood that the foregoing authorization is specifically intended to allow Borrowing Notices and Conversion/Continuation Notices to be given telephonically. Each Borrower agrees to deliver promptly to the Agent a written
confirmation, if such confirmation is requested by the Agent or any Lender, of each telephonic notice signed by a Financial Officer. If the written confirmation differs in any material respect from the action taken by the Agent and the Lenders, the
records of the Agent and the Lenders shall govern absent manifest error. 
 2.15. Interest Payment Dates; Interest and Fee
Basis. Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which the Floating Rate Advance is prepaid, whether due to
acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurocurrency Advance on a day other than a Payment Date shall be payable on the date of
conversion. Interest accrued on each Eurocurrency Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurocurrency Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest
accrued on each Eurocurrency Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on all Floating Rate Loans shall be calculated
for actual days elapsed (including the first day but excluding the last day) on the basis of a year of 365 or, when appropriate, 366 days. All interest accrued on Eurocurrency Loans and all fees hereunder shall be computed on the basis of a year of
360 days, except that interest computed with respect to Loans denominated in Pounds Sterling shall be computed on a basis of a year of 365 days, and in each case shall be payable for the actual number of days elapsed (including the first day but
excluding the last day). Interest shall be payable for the day an Advance or Swing Line Loan is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of
principal of or interest on an Advance, Swing Line Loan, fees or other Obligations shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such
extension of time shall be included in computing interest and fees in connection with such payment. 
 2.16. Notification of
Advances, Interest Rates, Prepayments and Commitment Reductions. Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Revolving Loan Commitment reduction notice, Borrowing Notice, Swing Line
Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. Promptly after notice from the LC Issuer, the Agent will notify each Lender of the contents of each request for issuance of a Facility LC hereunder. The
Agent will notify each Lender of the interest rate applicable to each Eurocurrency Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate. The Agent will also
provide notices to the Lenders as and when required by Section 2.5(c). 

  
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 2.17. Lending Installations. Each Lender may book its Loans and its participation in
any LC Obligations and the LC Issuer may book the Facility LCs at any Lending Installation selected by such Lender or the LC Issuer, as the case may be, and may change its Lending Installation from time to time. All terms of this Agreement shall
apply to any such Lending Installation and the Loans, Facility LCs, participations in LC Obligations and any Notes issued hereunder shall be deemed held by each Lender or the LC Issuer, as the case may be, for the benefit of any such Lending
Installation. Each Lender and the LC Issuer may, by written notice to the Agent and the Borrowers in accordance with Article XIII, designate replacement or additional Lending Installations through which Loans will be made by it or Facility LCs will
be issued by it and for whose account Loan payments or payments with respect to Facility LCs are to be made. 
 2.18.
Non-Receipt of Funds by the Agent. Unless a Borrower or a Lender, as the case may be, notifies the Agent prior to the date on which it is scheduled to make payment to the Agent of (i) in the case of a Lender, the proceeds of a Loan or
(ii) in the case of a Borrower, a payment of principal, interest or fees to the Agent for the account of the Lenders, that it does not intend to make such payment, the Agent may assume that such payment has been made. The Agent may, but shall
not be obligated to, make the amount of such payment available to the intended recipient in reliance upon such assumption. If such Lender or such Borrower, as the case may be, has not in fact made such payment to the Agent, the recipient of such
payment shall, on demand by the Agent, repay to the Agent the amount so made available together with interest thereon in respect of each day during the period commencing on the date such amount was so made available by the Agent until the date the
Agent recovers such amount at a rate per annum equal to (x) in the case of payment by a Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Agent in accordance with banking industry rules on interbank
compensation (including without limitation the Overnight Foreign Currency Rate in the case of Loans denominated in a Foreign Currency) or (y) in the case of payment by a Borrower, the interest rate applicable to the relevant Loan. 

2.19. Facility LCs. 
 2.19.1. Issuance. The LC Issuer hereby agrees, on the terms and conditions set forth in this Agreement, to issue standby and commercial Letters of Credit in Agreed Currencies (each, together with
the Existing Letters of Credit deemed issued hereunder pursuant to Section 2.19.13, a “Facility LC”; provided, that with respect to any Letter of Credit issued hereunder in a Foreign Currency, such term shall also be
deemed to include any advance guaranty, performance bond or similar guaranty deemed appropriate by the LC Issuer) and to renew, extend, increase, decrease or otherwise modify each Facility LC (“Modify,” and each such action a
“Modification”), from time to time from and including the Closing Date and prior to the Revolving Loan Termination Date upon the request of the Company; provided that immediately after each such Facility LC is issued or
Modified and subject to Section 2.7(b)(ii) and 2.7(d), (i) the aggregate Dollar Amount of the outstanding LC Obligations shall not exceed $60,000,000, (ii) the Aggregate Outstanding Revolving Credit Exposure shall not exceed the
Aggregate Revolving Loan Commitment and (iii) the aggregate outstanding principal Dollar Amount of all Eurocurrency Advances and LC Obligations in Foreign Currencies shall not exceed the Maximum Foreign Currency Amount. No Facility LC shall
have an expiry date later than the earlier of (x) the fifth Business Day prior to the Revolving Loan Termination Date and (y) one year after its issuance (or, in the case of any renewal or extension thereof, one year after such renewal or
extension); provided, that Letter of Credit No. CPCS-870108, identified as an Existing Letter of Credit on Schedule 2.19.13, may retain its current expiry date of June 1, 2012 (though any renewals or extensions thereof shall be in
compliance with this sentence). 

  
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 2.19.2. Participations. Upon the issuance or Modification by the LC
Issuer of a Facility LC in accordance with this Section 2.19, the LC Issuer shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably sold to each Revolving Lender, and each Revolving Lender shall be
deemed, without further action by any party hereto, to have unconditionally and irrevocably purchased from the LC Issuer, a participation in such Facility LC (and each Modification thereof) and the related LC Obligations in proportion to its
Revolving Loan Pro Rata Share. 
 2.19.3. Notice. Subject to Section 2.19.1, the Company shall give
the LC Issuer notice prior to 10:00 a.m. (Chicago time) at least five Business Days prior to the proposed date of issuance or Modification of each Facility LC, specifying the beneficiary, the proposed Agreed Currency, the proposed date of issuance
(or Modification) and the expiry date of such Facility LC, and describing the proposed terms of such Facility LC and the nature of the transactions proposed to be supported thereby. Upon receipt of such notice, the LC Issuer shall promptly notify
the Agent, and the Agent shall promptly notify each Lender, of the contents thereof and of the amount of each Revolving Lender’s participation in such proposed Facility LC. The issuance or Modification by the LC Issuer of any Facility LC shall,
in addition to the conditions precedent set forth in Article IV (the satisfaction of which the LC Issuer shall have no duty to ascertain), be subject to the conditions precedent that such Facility LC shall be satisfactory to the LC Issuer and that
the Company shall have executed and delivered such application agreement and/or such other instruments and agreements relating to such Facility LC as the LC Issuer shall have reasonably requested (each, a “Facility LC Application”).
In the event of any conflict between the terms of this Agreement and the terms of any Facility LC Application, the terms of this Agreement shall control. 
 2.19.4. LC Fees. The Company shall pay to the Agent, for the account of the Revolving Lenders ratably in accordance with their respective Revolving Loan Pro Rata Shares, with respect to each
Facility LC, a letter of credit fee at a per annum rate equal to the Applicable Margin for Eurocurrency Loans in effect from time to time on the average daily undrawn stated Dollar Amount under such Facility LC, such fee to be payable in arrears on
each Payment Date (the “LC Fee”). The Company shall also pay to the LC Issuer for its own account (x) at the time of issuance of each Facility LC, a fronting fee equal to 0.125% of the stated Dollar Amount available for drawing
under such Facility LC (or such other amount as the Company and the LC Issuer shall agree) and (y) documentary and processing charges in connection with the issuance or Modification of and draws under Facility LCs in accordance with the LC
Issuer’s standard schedule for such charges as in effect from time to time. 
 2.19.5. Administration;
Reimbursement by Lenders. Upon receipt from the beneficiary of any Facility LC of any demand for payment under such Facility LC, the LC Issuer shall notify the Agent and the Agent shall promptly notify the Company and each other Revolving Lender
as to the amount to be paid by the LC Issuer as a result of such demand and the proposed payment date (the “LC Payment Date”). The responsibility of the LC Issuer to the Company and each Revolving Lender shall be only to determine
that the documents (including each demand for payment) delivered under each Facility LC in connection with such presentment shall be in conformity in all material respects with such Facility LC. The LC Issuer shall endeavor to exercise the same care
in the issuance and administration of the Facility LCs as it does with respect to letters of credit in which no participations are granted, it being understood that in the absence of any gross negligence or willful misconduct by the LC Issuer, each
Revolving Lender shall be unconditionally and irrevocably liable without regard to the occurrence of any Default or any condition precedent whatsoever, to reimburse the LC Issuer on demand for (i) such Revolving Lender’s Revolving Loan Pro
Rata Share of the amount of each payment made by the LC Issuer under each Facility LC to the extent such amount is not reimbursed by the Company pursuant to Section 2.19.6 below, plus (ii) interest on the foregoing amount to be
reimbursed by such Revolving Lender, for each day from the date of the LC Issuer’s demand for such reimbursement (or, if such demand is made after 11:00 a.m. (Chicago time) on such date, from the next succeeding Business Day) to the date on
which such Revolving Lender pays the amount to be reimbursed by it, at a rate of interest per annum equal to the rate applicable to Floating Rate Advances (or, in the case of the disbursement paid by the LC Issuer is denominated in a Foreign
Currency, at the Overnight Foreign Currency Rate for such Agreed Currency plus the then effective Applicable Margin for Eurocurrency Advances). 

  
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 2.19.6. Reimbursement by Company. The Company shall be irrevocably
and unconditionally obligated to reimburse the LC Issuer on or before the applicable LC Payment Date for any amounts to be paid by the LC Issuer upon any drawing under any Facility LC, without presentment, demand, protest or other formalities of any
kind and, subject to this Section 2.19.6, in the Agreed Currency which was paid by the LC Issuer; provided that neither the Company nor any Revolving Lender shall hereby be precluded from asserting any claim for direct (but not consequential)
damages suffered by the Company or such Revolving Lender to the extent, but only to the extent, caused by (i) the willful misconduct or gross negligence of the LC Issuer in determining whether a request presented under any Facility LC issued by
it complied with the terms of such Facility LC or (ii) the LC Issuer’s failure to pay under any Facility LC issued by it after the presentation to it of a request strictly complying with the terms and conditions of such Facility LC. All
such amounts paid by the LC Issuer and remaining unpaid by the Company shall bear interest, payable on demand, for each day until paid at a rate per annum equal to (x) the rate applicable to Floating Rate Advances for such day if such day falls
on or before the applicable LC Payment Date and (y) the sum of 2% per annum plus the rate applicable to Floating Rate Advances for such day if such day falls after such LC Payment Date. The LC Issuer will pay to each Revolving
Lender ratably in accordance with its Revolving Loan Pro Rata Share all amounts received by it from the Company for application in payment, in whole or in part, of the Reimbursement Obligation in respect of any Facility LC issued by the LC Issuer,
but only to the extent such Revolving Lender has made payment to the LC Issuer in respect of such Facility LC pursuant to Section 2.19.5. Subject to the terms and conditions of this Agreement (including without limitation the submission of a
Borrowing Notice in compliance with Section 2.8 and the satisfaction of the applicable conditions precedent set forth in Article IV), the Company may request an Advance hereunder for the purpose of satisfying any Reimbursement Obligation. If
the Company’s reimbursement of, or obligation to reimburse, any amounts in any Foreign Currency would subject the Agent, LC Issuer or any Lender to any stamp duty, ad valorem charge or similar tax that would not be payable if such reimbursement
were made or required to be made in Dollars, the Company shall, at its option, either (x) pay the amount of any such tax requested by the Agent, the LC Issuer or the relevant Lender or (y) pay each Reimbursement Obligation made in such
Foreign Currency in Dollars, in the Dollar Amount thereof, calculated using the applicable exchange rates, on the date the underlying disbursement is made by the LC Issuer, of such disbursement. 

  
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 2.19.7. Obligations Absolute. The Company’s obligations under
this Section 2.19 shall be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment which the Company may have or have had against the LC Issuer, any Lender or any beneficiary
of a Facility LC. The Company further agrees with the LC Issuer and the Lenders that the LC Issuer and the Lenders shall not be responsible for, and the Company’s Reimbursement Obligation in respect of any Facility LC shall not be affected by,
among other things, the validity or genuineness of documents or of any endorsements thereon, even if such documents should in fact prove to be in any or all respects invalid, fraudulent or forged, or any dispute between or among the Company, any of
its Affiliates, the beneficiary of any Facility LC or any financing institution or other party to whom any Facility LC may be transferred or any claims or defenses whatsoever of the Company or of any of its Affiliates against the beneficiary of any
Facility LC or any such transferee. The LC Issuer shall not be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Facility LC. The Company
agrees that any action taken or omitted by the LC Issuer or any Lender under or in connection with each Facility LC and the related drafts and documents, if done without gross negligence or willful misconduct, shall be binding upon the Company and
shall not put the LC Issuer or any Lender under any liability to the Company. Nothing in this Section 2.19.7 is intended to limit the right of the Company to make a claim against the LC Issuer for damages as contemplated by the proviso to the
first sentence of Section 2.19.6. 
 2.19.8. Actions of LC Issuer. The LC Issuer shall be entitled to
rely, and shall be fully protected in relying, upon any Facility LC, draft, writing, resolution, notice, consent, certificate, affidavit, letter, cablegram, telegram, telecopy, telex or teletype message, statement, order or other document believed
by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons, and upon advice and statements of legal counsel, independent accountants and other experts selected by the LC Issuer. The LC Issuer shall be fully
justified in failing or refusing to take any action under this Agreement unless it shall first have received such advice or concurrence of the Required Revolving Lenders as it reasonably deems appropriate or it shall first be indemnified to its
reasonable satisfaction by the Revolving Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action. Notwithstanding any other provision of this Section 2.19, the LC
Issuer shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Required Revolving Lenders, and such request and any action taken or failure to act pursuant thereto shall
be binding upon the Revolving Lenders and any future holders of a participation in any Facility LC. 
 2.19.9.
Indemnification. The Company hereby agrees to indemnify and hold harmless each Lender, the LC Issuer and the Agent, and their respective directors, officers, agents and employees from and against any and all claims and damages, losses,
liabilities, out-of-pocket costs or expenses which such Lender, the LC Issuer or the Agent may incur (or which may be claimed against such Lender, the LC Issuer or the Agent by any Person whatsoever) by reason of or in connection with the issuance,
execution and delivery or transfer of or payment or failure to pay under any Facility LC or any actual or proposed use of any Facility LC, including, without limitation, any claims, damages, losses, liabilities, out-of-pocket costs or expenses which
the LC Issuer may incur by reason of or in connection with (i) the failure of any other Lender to fulfill or comply with its obligations to the LC Issuer hereunder (but nothing herein contained shall affect any rights the Company may have
against any Defaulting Lender) or (ii) by reason of or on account of the LC Issuer issuing any Facility LC which specifies that the term “Beneficiary” included therein includes any successor by operation of law of the named
Beneficiary, but which Facility LC does not require that any drawing by any such successor Beneficiary be accompanied by a copy of a legal document, satisfactory to the LC Issuer, evidencing the appointment of such successor Beneficiary; provided
that the Company shall not be required to indemnify any Lender, the LC Issuer or the Agent for any claims, damages, losses, liabilities, costs or expenses to the extent, but only to the extent, caused by (x) the willful misconduct or gross
negligence of the LC Issuer in determining whether a request presented under any Facility LC complied with the terms of such Facility LC or (y) the LC Issuer’s failure to pay under any Facility LC after the presentation to it of a request
strictly complying with the terms and conditions of such Facility LC. Nothing in this Section 2.19.9 is intended to limit the obligations of the Company under any other provision of this Agreement. 

  
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 2.19.10. Lenders’ Indemnification. Each Revolving Lender shall,
ratably in accordance with its Revolving Loan Pro Rata Share, indemnify the LC Issuer, its affiliates and their respective directors, officers, agents and employees (to the extent not reimbursed by the Company) against any cost, expense (including
reasonable counsel fees and disbursements), claim, demand, action, loss or liability (except such as result from such indemnitees’ gross negligence or willful misconduct or the LC Issuer’s failure to pay under any Facility LC after the
presentation to it of a request strictly complying with the terms and conditions of the Facility LC) that such indemnitees may suffer or incur in connection with this Section 2.19 or any action taken or omitted by such indemnitees hereunder.

 2.19.11. Facility LC Collateral Account. The Company agrees that it will, upon the request of the Agent
or the Required Revolving Lenders and until the final expiration date of any Facility LC and thereafter as long as any amount is payable to the LC Issuer or the Revolving Lenders in respect of any Facility LC, maintain a special collateral account
pursuant to arrangements satisfactory to the Agent (the “Facility LC Collateral Account”) at the Agent’s office at the address specified pursuant to Article XIII, in the name of the Company but under the sole dominion and
control of the Agent, for the benefit of the Lenders and in which the Company shall have no interest other than as set forth in Section 2.7(b) or 8.1. The Company hereby pledges, assigns and grants to the Agent, on behalf of and for the ratable
benefit of the Lenders and the LC Issuer, a security interest in all of the Company’s right, title and interest in and to all funds which may from time to time be on deposit in the Facility LC Collateral Account to secure the prompt and
complete payment and performance of the Obligations. The Agent will invest any funds on deposit from time to time in the Facility LC Collateral Account in certificates of deposit of JPMorgan having a maturity not exceeding 30 days. Nothing in this
Section 2.19.11 shall either obligate the Agent to require the Company to deposit any funds in the Facility LC Collateral Account or limit the right of the Agent to release any funds held in the Facility LC Collateral Account in each case other
than as required by Section 2.7(b) or 8.1. 

  
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 2.19.12. Rights as a Lender. In its capacity as a Lender, the LC
Issuer shall have the same rights and obligations as any other Lender. 
 2.19.13. Transitional Letter of
Credit Provisions. From and after the Closing Date, the letters of credit described on Schedule 2.19.13 (the “Existing Letters of Credit”) shall be deemed to constitute Facility LCs issued pursuant to Section 2.19.1 in
which the Lenders participate pursuant to Section 2.19.2. Fees shall accrue in respect of the Existing Letters of Credit as provided in Section 2.19.4 beginning as of the Closing Date. 

2.20. Replacement of Lender. If a Borrower is required pursuant to Section 3.1, 3.2, 3.5 or 3.6 to make any additional or
increased payment to any Lender, if any Lender’s obligation to make or continue, or to convert Floating Rate Advances into, Eurocurrency Advances shall be suspended pursuant to Section 3.3 or if any Lender becomes a Defaulting Lender (any
Lender so affected an “Affected Lender”), the Company may elect, if such amounts continue to be charged, such suspension is still effective or such Lender remains a Defaulting Lender, to replace such Affected Lender as a Lender
party to this Agreement, provided that no Default or Unmatured Default shall have occurred and be continuing at the time of such replacement, and provided further that, concurrently with such replacement, (i) another bank or other
entity which is reasonably satisfactory to the Company, the Agent and (if such Affected Lender is a Revolving Lender) JPMorgan in its capacity as LC Issuer shall agree, as of such date, to purchase for cash the Advances and other Obligations due to
the Affected Lender pursuant to an assignment substantially in the form of Exhibit C and to become a Lender for all purposes under this Agreement and to assume all obligations of the Affected Lender to be terminated as of such date and to comply
with the requirements of Section 12.3 applicable to assignments, and (ii) the Borrowers shall pay to such Affected Lender in same day funds on the day of such replacement (A) all interest, fees and other amounts then accrued but
unpaid to such Affected Lender by the Borrowers hereunder to and including the date of termination, including without limitation payments due to such Affected Lender under Sections 3.1, 3.2, 3.5 and 3.6, and (B) an amount, if any, equal to the
payment which would have been due to such Lender on the day of such replacement under Section 3.4 had the Loans of such Affected Lender been prepaid on such date rather than sold to the replacement Lender. 

2.21. Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting
Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender: 
 (a) fees
shall cease to accrue on the unfunded portion of the Revolving Loan Commitment of such Defaulting Lender pursuant to Section 2.5(a); 
 (b) the Revolving Loan Commitment, Outstanding Revolving Credit Exposure, Term Loan Commitment and outstanding Term Loans of such Defaulting Lender shall not be included in determining whether the
Required Revolving Lenders or the Required Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification pursuant to Section 8.2); provided, that (i) such Defaulting
Lender’s Revolving Loan Commitment or Term Loan Commitment may not be increased or extended without its consent and (ii) the principal amount of, or interest or fees payable on, Loans or Reimbursement Obligations may not be reduced or
excused or the scheduled date of payment may not be postponed as to such Defaulting Lender without such Defaulting Lender’s consent; 
 (c) if any Swing Line Exposure or LC Obligations exist at the time such Lender becomes a Defaulting Lender then: 

  
 50 

	 	(i)	all or any part of the Swing Line Exposure and LC Obligations of such Defaulting Lender shall be reallocated among the non-Defaulting Lenders in accordance with their
respective Revolving Loan Pro Rata Shares but only to the extent the sum of all non-Defaulting Lenders’ Outstanding Revolving Credit Exposures plus such Defaulting Lender’s Swing Line Exposure and LC Obligations does not exceed the
total of all non-Defaulting Lenders’ Revolving Loan Commitments; 

  

	 	(ii)	if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Company shall within one (1) Business Day following notice
by the Agent (x) first, prepay such Swing Line Exposure and (y) second, cash collateralize for the benefit of the LC Issuer only the Company’s obligations corresponding to such Defaulting Lender’s LC Obligations (after giving
effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 8.1 for so long as such LC Obligations are outstanding; 

 

	 	(iii)	if the Company cash collateralizes any portion of such Defaulting Lender’s LC Obligations pursuant to clause (ii) above, the Company shall not be required to
pay any letter of credit fees to such Defaulting Lender pursuant to Section 2.19.4 with respect to such Defaulting Lender’s LC Obligations during the period such Defaulting Lender’s LC Obligations are cash collateralized;

  

	 	(iv)	if the LC Obligations of the non-Defaulting Lenders are reallocated pursuant to clause (i) above, then the fees payable to the Lenders pursuant to
Section 2.5(a) and Section 2.19.4 shall be adjusted in accordance with such non-Defaulting Lenders’ Revolving Loan Pro Rata Shares; and 

  

	 	(v)	if all or any portion of such Defaulting Lender’s LC Obligations is neither reallocated nor cash collateralized pursuant to clause (i) or (ii) above,
then, without prejudice to any rights or remedies of the LC Issuer or any other Lender hereunder, all letter of credit fees payable under Section 2.19.4 with respect to such Defaulting Lender’s LC Obligations shall be payable to the LC
Issuer until and to the extent that such LC Obligations are reallocated and/or cash collateralized; and 

 (d) so long as such Lender is a Defaulting Lender, the Swing Line Lender shall not be required to fund any Swing Line Loan and the LC Issuer shall not be required to issue or Modify any Facility LC,
unless it is satisfied that the related exposure and the Defaulting Lender’s then outstanding LC Obligations will be 100% covered by the Revolving Loan Commitments of the non-Defaulting Lenders and/or cash collateral will be provided by the
Company in accordance with Section 2.21(c), and participating interests in any newly made Swing Line Loan or any newly issued or increased Facility LC shall be allocated among non-Defaulting Lenders in a manner consistent with
Section 2.21(c)(i) (and such Defaulting Lender shall not participate therein). 
 If (i) a Bankruptcy Event with
respect to a Parent of any Lender shall occur following the date hereof and for so long as such event shall continue or (ii) the Swing Line Lender or the LC Issuer has a good faith belief that any Lender has defaulted in fulfilling its
obligations under one or more other agreements in which such Lender commits to extend credit, the Swing Line Lender shall not be required to fund any Swing Line Loan and the LC Issuer shall not be required to issue or Modify any Facility LC, unless
the Swing Line Lender or the LC Issuer, as the case may be, shall have entered into arrangements with the Company or such Lender, satisfactory to the Swing Line Lender or the LC Issuer, as the case may be, to defease any risk to it in respect of
such Lender hereunder. 

  
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 In the event that the Agent, the Company, the LC Issuer and the Swing Line Lender each
agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Swing Line Exposure and LC Obligations of the Lenders shall be readjusted to reflect the inclusion of such Lender’s
Revolving Loan Commitment and on such date such Lender shall purchase at par such of the Revolving Loans of the other Lenders as the Agent shall determine may be necessary in order for such Lender to hold such Loans in each Agreed Currency of each
Borrower in accordance with its Revolving Loan Pro Rata Share. 
 Nothing contained in the foregoing shall be deemed to
constitute a waiver by any Borrower of any of its rights or remedies (whether in equity or law) against any Lender which fails to fund any of its Loans hereunder at the time or in the amount required to be funded under the terms of this Agreement.

 2.22. Judgment Currency. If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due
from any Borrower hereunder in the currency expressed to be payable herein (the “specified currency”) into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange
used shall be that at which in accordance with normal banking procedures the Agent could purchase the specified currency with such other currency at the Agent’s main office in Chicago, Illinois on the Business Day preceding that on which the
final, non-appealable judgment is given. The obligations of the applicable Borrower in respect of any sum due to any Lender or the Agent hereunder shall, notwithstanding any judgment in a currency other than the specified currency, be discharged
only to the extent that on the Business Day following receipt by such Lender or the Agent (as the case may be) of any sum adjudged to be so due in such other currency such Lender or the Agent (as the case may be) may in accordance with normal,
reasonable banking procedures purchase the specified currency with such other currency. If the amount of the specified currency so purchased is less than the sum originally due to such Lender or the Agent, as the case may be, in the specified
currency, such Borrower agrees, to the fullest extent that it may effectively do so, as a separate obligation and notwithstanding any such judgment, to indemnify such Lender or the Agent, as the case may be, against such loss, and if the amount of
the specified currency so purchased exceeds (a) the sum originally due to any Lender or the Agent, as the case may be, in the specified currency and (b) any amounts shared with other Lenders as a result of allocations of such excess as a
disproportionate payment to such Lender under Section 11.2, such Lender or the Agent, as the case may be, agrees to remit such excess to the applicable Borrower. 
 2.23. Market Disruption. Notwithstanding the satisfaction of all conditions referred to in Article II with respect to any Advance in any Foreign Currency, if there shall occur on or prior to the
date of such Advance any change in national or international financial, political or economic conditions or currency exchange rates or exchange controls which would in the reasonable opinion of the applicable Borrower, the Agent or the Required
Revolving Lenders make it impracticable for the Eurocurrency Loans comprising such Advance to be denominated in the Agreed Currency specified by the applicable Borrower, then the Agent shall forthwith give notice thereof to such Borrower and the
Revolving Lenders or such Borrower shall give notice thereof to the Revolving Lenders, as the case may be, and such Eurocurrency Loans shall not be denominated in such currency but shall be made on such Borrowing Date in Dollars, in an aggregate
principal amount equal to the Dollar Amount of the aggregate principal amount specified in the related Borrowing Notice, as Floating Rate Loans, unless the applicable Borrower notifies the Agent at least one Business Day before such date that
(a) it elects not to borrow on such date or (b) it elects to borrow on such date in a different Agreed Currency, as the case may be, in which the denomination of such Eurocurrency Loans would in the opinion of the Agent and the Required
Revolving Lenders be practicable and in an aggregate principal amount equal to the Dollar Amount of the aggregate principal amount specified in the related Borrowing Notice. 

  
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 2.24. Foreign Subsidiary Borrowers. 

2.24.1. Additional Dutch Borrowers. The Company may, at any time on or prior to August 31, 2011 (or such later
date as the Agent shall agree in its sole discretion), add as a party to this Agreement each of Applied Power Europa B.V. and Enerpac B.V., each a Dutch Subsidiary, as a “Foreign Subsidiary Borrower” hereunder by (a) the execution and
delivery to the Agent of a duly completed Assumption Letter by such Subsidiary, with the written consent of each other Borrower, (b) the execution and delivery to the Agent of such documents, instruments, opinions and certificates as shall be
required in order to permit the Borrowers to be in compliance with Section 16.2 in connection with the joinder of such Foreign Subsidiary Borrower hereto, (c) in the case of the addition of Enerpac B.V., a deed of amendment to the articles
of association of Enerpac B.V., inter alia, to allow for the transfer of voting rights of shares in Enerpac B.V. to a pledgee, and (d) the execution and delivery to the Agent of such documents, notices, instruments, opinions, positive
works council advices (including the works council of Power-Packer Europa B.V. and of Enerpac B.V.), documents of title and certificates as shall be required in order to permit the Borrowers to be in compliance with Section 6.21(d) after giving
effect to the joinder of such Foreign Subsidiary Borrower hereto. Upon such execution, delivery and consent, such Subsidiary shall for all purposes be a party hereto as a Foreign Subsidiary Borrower as fully as if it had executed and delivered this
Agreement. 
 2.24.2. Removal of Foreign Subsidiary Borrower. The Company may at any time execute and
deliver to the Agent a Subsidiary Borrower Termination with respect to any Foreign Subsidiary Borrower, whereupon such Subsidiary shall cease to be a Foreign Subsidiary Borrower and a party to this Agreement. Notwithstanding the preceding sentence,
no Subsidiary Borrower Termination will become effective as to any Foreign Subsidiary Borrower at a time when any principal of or interest on any Loan to such Foreign Subsidiary Borrower or any other amount due and payable by such Foreign Subsidiary
Borrower shall be outstanding hereunder. 
 ARTICLE III 

YIELD PROTECTION; TAXES 
  

	 	3.1.	Yield Protection. If any Change in Law: 

  

	 	(i)	subjects the Agent, any Lender or the LC Issuer to any taxes (other than (A) Taxes, (B) Other Taxes, (C) Other Connection Taxes on gross or net income,
profits or revenue (including value-added or similar Taxes), (D) Excluded Taxes or (E) UK Tax attributable to a Tax Deduction required by law to be made by a Borrower or compensated for by Section 3.6) on its loans, loan principal,
letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto, or 

  

	 	(ii)	imposes or increases or deems applicable any reserve, assessment, insurance charge, special deposit or similar requirement against assets of, deposits with or for the
account of, or credit extended by, any Lender or any applicable Lending Installation or the LC Issuer (other than reserves and assessments taken into account in determining the interest rate applicable to Eurocurrency Advances), or

  
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	 	(iii)	imposes any other condition the result of which is to increase the cost to any Lender or any applicable Lending Installation or the LC Issuer of making, funding or
maintaining its Eurocurrency Loans, or of issuing or participating in Facility LCs, or reduces any amount receivable by any Lender or any applicable Lending Installation or the LC Issuer in connection with its Eurocurrency Loans, Facility LCs or
participations therein, or requires any Lender or any applicable Lending Installation or the LC Issuer to make any payment calculated by reference to the amount of Eurocurrency Loans, Facility LCs or participations therein held or interest or LC
Fees received by it, by an amount deemed material by such Lender or the LC Issuer as the case may be, 

 and the result of any of
the foregoing is to increase the cost to the Agent, such Lender or applicable Lending Installation or the LC Issuer, as the case may be, of making or maintaining its Loans, Revolving Loan Commitment or Term Loan Commitment or of issuing or
participating in Facility LCs or to reduce the return received by the Agent, such Lender or applicable Lending Installation or the LC Issuer, as the case may be, in connection with such Loans, Revolving Loan Commitment or Term Loan Commitment,
Facility LCs or participations therein (including, in any such instance and without limitation, pursuant to any conversion of any Loan denominated in an Agreed Currency into a Loan denominated in any other Agreed Currency), then, within 15 days of
demand by the Agent, such Lender or the LC Issuer, as the case may be, the Borrowers shall pay the Agent, such Lender or the LC Issuer, as the case may be, such additional amount or amounts as will compensate the Agent, such Lender or the LC Issuer,
as the case may be, for such increased cost or reduction in amount received. 
 3.2. Changes in Capital Adequacy
Regulations. If a Lender or the LC Issuer determines the amount of capital required or expected to be maintained by such Lender or the LC Issuer, any Lending Installation of such Lender or the LC Issuer, or any corporation controlling such
Lender or the LC Issuer is increased as a result of a Change in Law, then, within 15 days of demand by such Lender or the LC Issuer, the applicable Borrower shall pay such Lender or the LC Issuer the amount necessary to compensate for any shortfall
in the rate of return on the portion of such increased capital which such Lender or the LC Issuer determines is attributable to this Agreement, its Outstanding Revolving Credit Exposure, its Term Loans or Revolving Loan Commitment or Term Loan
Commitment or its commitment to issue Facility LCs as the case may be, hereunder (after taking into account such Lender’s or the LC Issuer’s policies as to capital adequacy). 

3.3. Availability of Types of Advances. If (a) any Lender determines that maintenance of its Eurocurrency Loans at a suitable
Lending Installation would violate any applicable law, rule, regulation, or directive, whether or not having the force of law, (b) the Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable
means do not exist for ascertaining the Adjusted Eurocurrency Base Rate or Eurocurrency Base Rate, as applicable, for any Eurocurrency Advance for any Interest Period or (c) the Required Lenders determine that the Adjusted Eurocurrency Base
Rate or the Eurocurrency Base Rate, as applicable, for any Eurocurrency Advance for any Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such
Advance for such Interest Period, then the Agent shall suspend the availability of Eurocurrency Advances and require any affected Eurocurrency Advances to be repaid or converted to Floating Rate Advances, subject to the payment of any funding
indemnification amounts required by Section 3.4. 
 3.4. Funding Indemnification. If any payment of a Eurocurrency
Advance occurs on a date which is not the last day of the applicable Interest Period, whether because of acceleration, prepayment or otherwise, or a Eurocurrency Advance is not made or continued, or a Floating Rate Advance is not converted into a
Eurocurrency Advance, on the date specified by the applicable Borrower for any reason other than default by the Lenders, or a Eurocurrency Advance is not prepaid on the date specified by such Borrower for any reason, or a Eurocurrency Advance is
assigned other than on the last day of an Interest Period therefor as a result of a request by the Borrower pursuant to Section 2.20, such Borrower will indemnify each Lender for any loss or cost incurred by it resulting therefrom, including,
without limitation, any loss or cost in liquidating or employing deposits acquired to fund or maintain such Eurocurrency Advance. 

  
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 3.5. Taxes. 

3.5.1. All payments by the Borrowers to or for the account of any Lender, the LC Issuer or the Agent hereunder or under
any Note, Facility LC Application or any other Loan Document shall be made free and clear of and without deduction for any and all Taxes. If any Borrower shall be required by law to deduct any Taxes from or in respect of any sum payable hereunder or
under any other Loan Document to any Lender, the LC Issuer or the Agent, (a) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this
Section 3.5) such Lender, the LC Issuer or the Agent (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (b) such Borrower shall make such deductions, (c) such Borrower
shall pay the full amount deducted to the relevant authority in accordance with applicable law and (d) such Borrower shall furnish to the Agent the original copy of a receipt evidencing payment thereof within 30 days after such payment is made.

 3.5.2. In addition, each Borrower hereby agrees to pay any present or future stamp or documentary taxes
related to any Loan Party and any other excise or property taxes, charges or similar levies related to such Loan Party which arise from any payment hereunder or under any Note, Facility LC Application, or other Loan Document or from the execution or
delivery of, or otherwise with respect to, this Agreement or any Note, Facility LC Application or other Loan Document (“Other Taxes”). 
 3.5.3. Each Borrower hereby agrees to indemnify the Agent, the LC Issuer and each Lender for the full amount of Taxes or Other Taxes (including, without limitation, any Taxes or Other Taxes imposed on
amounts payable under this Section 3.5) related to any Loan Party paid by the Agent, the LC Issuer or such Lender as a result of its Revolving Loan Commitment, its Term Loan Commitment, any Loans made by it hereunder, or otherwise in connection
with its participation in this Agreement and any liability (including penalties, interest and expenses) arising therefrom or with respect thereto. Payments due under this indemnification shall be made within 30 days of the date the Agent, the LC
Issuer or such Lender makes demand therefor. 
 3.5.4. Each Lender agrees that it will, not more than ten
Business Days after the date of this Agreement and at such other times prescribed by applicable law, deliver to each Borrower (with a copy to the Agent) such properly completed and executed documentation prescribed by applicable law or reasonably
requested by such Borrower as will demonstrate that such Lender is entitled to an exemption from withholding tax under the law of the jurisdiction in which such Borrower is located or a treaty to which such jurisdiction is a party and will permit
payments by such Borrower hereunder to be made without withholding. Without limiting the generality of the foregoing, in the event that a Borrower is resident for tax purposes in the United States of America, any Lender that is not organized under
the laws of the United States of America or a state thereof (each a “Non-U.S. Lender”) agrees that it will, not more than ten Business Days after the date of this Agreement, (i) deliver to the Agent two duly completed copies of
United States Internal Revenue Service Form W-8BEN, W-8ECI or W-8IMY, certifying in either case that such Lender is entitled to receive payments under this Agreement without deduction or withholding of any United States federal income taxes, and
(ii) deliver to the Agent a United States Internal Revenue Form W-8 and certify that it is entitled to an exemption from United States backup withholding tax. Each Non-U.S. Lender further undertakes to deliver to each of the Company and the
Agent (x) renewals or additional copies of such IRS form (or any successor form) on or before the date that such form expires or becomes obsolete, and (y) after the occurrence of any event requiring a change in the most recent IRS forms so
delivered by it, such additional forms or amendments thereto as may be reasonably requested by the Company or the Agent. All documentation, forms or amendments described in the first or second sentence of this Section 3.5.4 shall certify or
otherwise demonstrate that such Lender is entitled to receive payments under this Agreement without deduction or withholding of any income taxes in the applicable jurisdiction, unless an event (including without limitation any change in treaty, law
or regulation) has occurred prior to the date on which any such delivery would otherwise be required which renders all such documentation inapplicable or which would prevent such Lender from duly completing and delivering any such documentation or
amendment with respect to it and such Lender advises the Borrowers and the Agent that it is not capable of receiving payments without any deduction or withholding of income tax in such jurisdiction. Each Lender shall promptly notify the Agent of any
change in circumstances which would modify or render invalid any claimed exemption from withholding of income tax in any such jurisdiction. 

  
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 3.5.5. For any period during which a Lender has failed to provide a Borrower
with appropriate documentation pursuant to Section 3.5.4 (unless such failure is due to a change in treaty, law or regulation, or any change in the interpretation or administration thereof by any Governmental Authority, occurring subsequent to
the date of this Agreement or, in the case of a Lender that became a party to this Agreement pursuant to an assignment, the assigning Lender was entitled, at the time of the assignment, to receive additional amounts with respect to such withholding
tax pursuant to this Section 3.5), such Lender shall not be entitled to indemnification under this Section 3.5 by such Borrower with respect to Taxes imposed by the jurisdiction in which such Borrower is located provided that, should a
Lender which is otherwise exempt from or subject to a reduced rate of withholding tax become subject to Taxes because of its failure to deliver a form required under Section 3.5.4, the Borrowers shall take such steps as such Lender shall
reasonably request to assist such Lender to recover such Taxes. 
 3.5.6. Each Lender shall severally indemnify
the Agent for any taxes (but, in the case of any Taxes or Other Taxes, only to the extent that any Borrower has not already indemnified the Agent for such Taxes or Other Taxes and without limiting the obligation of the Borrower to do so)
attributable to such Lender that are paid or payable by the Agent in connection with any Loan Document and any reasonable expenses arising therefrom or with respect thereto, whether or not such taxes were correctly or legally imposed or asserted by
the relevant Governmental Authority. The indemnity under this Section 3.5.6 shall be paid within ten (10) days after the Agent delivers to the applicable Lender a certificate stating the amount of taxes so paid or payable by the Agent.
Such certificate shall be conclusive of the amount so paid or payable absent manifest error. The obligations of the Lenders under this Section 3.5.6 shall survive the payment of the Obligations and termination of this Agreement. 

  
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 3.5.7. For purposes of Section 3.5, the terms “Lender” or
“Lenders” shall include the LC Issuer, as appropriate. 
 3.6. UK Tax. 

(a) Definitions: 
 “Protected Party” means a Lender, the LC Issuer or the Agent which is or will be subject to any liability or required to make any payment for or on account of UK Tax, in relation to a sum
received or receivable (or any sum deemed for the purposes of UK Tax to be received or receivable) under a Loan Document. 

“Qualifying Lender” means: 
  

	 	(i)	a Lender (other than a Lender within sub-paragraph (ii) below) which is beneficially entitled to interest payable to that Lender in respect of an advance under a
Loan Document and is: 

  

	 	(A)	a Lender: 

  

	 	(I)	which is a bank (as defined for the purpose of section 879 of the Income Tax Act 2007) making an advance under a Loan Document; or 

 

	 	(II)	in respect of an advance made under a Loan Document by a person that was a bank (as defined for the purpose of section 879 of the Income Tax Act 2007) at the time that
that advance was made, 

 and which is within the charge to United Kingdom corporation tax as respects any
payments of interest made in respect of that advance; or 
  

	 	(B)	a Lender which is: 

  

	 	(I)	a company resident in the United Kingdom for United Kingdom tax purposes; or 

 

	 	(II)	a partnership each member of which is: 

  

	 	1)	a company resident in the United Kingdom; or 

  

	 	2)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account in
computing its chargeable profits (for the purposes of section 19 of the Corporation Tax Act 2009) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the Corporation Tax Act 2009; or

  
 57 

	 	(III)	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest
payable in respect of that advance in computing its chargeable profits (within the meaning given by section 19 of the Corporation Tax Act 2009). 

  

	 	(C)	a Treaty Lender; or 

  

	 	(ii)	a building society (as defined for the purpose of section 880 of the Income Tax Act 2007) making an advance under a Loan Document. 

“Tax Credit” means a credit against, relief or remission for, or repayment of any UK Tax. 

“Tax Deduction” means a deduction or withholding for or on account of UK Tax from a payment under a Loan Document.

 “Tax Payment” means either an increased payment made by a Borrower to a Lender under 3.6(e) (Tax gross-up) or
a payment under 3.6(j) (Tax indemnity). 
 “Treaty Lender” means a Lender which: 

 

	 	(i)	is treated as a resident of a Treaty State for the purposes of the Treaty; 

 

	 	(ii)	does not carry on a business in the United Kingdom through a permanent establishment with which that Lender’s participation in the Loan is effectively connected;
and 

  

	 	(iii)	satisfies all other conditions under that Treaty for a payment of interest made by a UK Subsidiary under a Loan to be exempt from UK income tax (and any identical or
substantially similar tax that is imposed after the date of this Agreement in addition to, or in place of, UK income tax). 

 “Treaty State” means a jurisdiction having a double taxation agreement (a “Treaty”) with the United Kingdom which makes provision for full exemption from tax imposed by
the United Kingdom on interest. 
 “VAT” means value added tax as provided for in the Value Added Tax Act 1994
and any other tax of a similar nature. 
 (b) Unless a contrary indication appears, in this Section 3.6 a reference to
“determines” or “determined” means a determination made in the absolute discretion of the person making the determination. 
 (c) Each Borrower shall make all payments to be made by it under a Loan Document without any Tax Deduction, unless a Tax Deduction is required by law. 

(d) Each Borrower shall promptly upon becoming aware that it must make a Tax Deduction (or that there is any change in the rate or the
basis of a Tax Deduction) notify the Agent accordingly. Similarly, a Lender shall notify the Agent on becoming so aware in respect of a payment payable to that Lender. If the Agent receives such notification from a Lender it shall notify that
Borrower. 

  
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 (e) If a Tax Deduction is required by law to be made by a Borrower under a Loan Document,
the amount of the payment due from that Borrower shall be increased to an amount which (after making any Tax Deduction) leaves an amount equal to the payment which would have been due if no Tax Deduction had been required. 

(f) A Borrower is not required to make an increased payment to a Lender under paragraph (e) above for a Tax Deduction in respect of
tax imposed by the United Kingdom from a payment of interest on a Loan, if on the date on which the payment falls due the payment could have been made to the relevant Lender without a Tax Deduction if it was a Qualifying Lender, but on that date
that Lender is not or has ceased to be a Qualifying Lender other than as a result of any change after the date it became a Lender under this Agreement in (or in the interpretation, administration, or application of) any law or any published practice
or concession of any relevant taxing authority; or 
  

	 	(i)	(A) the relevant Lender is a Qualifying Lender solely under sub-paragraph (i)(B) of the definition of Qualifying Lender; 

(B) an officer of H.M. Revenue & Customs has given (and not revoked) a direction (a “Direction”) under section
931 of the Income Tax Act 2007 (as that provision has effect on the date on which the relevant Lender became a party hereto) which relates to that payment and that Lender has received from such Borrower or the Company a certified copy of that
Direction; and 
 (C) the payment could have been made to the Lender without any Tax Deduction in the absence of that Direction;
or 
  

	 	(ii)	The relevant Lender is a Treaty Lender and the Lender fails to comply with its obligations under paragraph (i)(A) and (B) below, unless: 

(A) such failure is due to a change after the date it became a Lender under this Agreement in (or in the interpretation, administration,
or application of) any law or any published practice or concession of any relevant taxing authority; or 
 (B) the Lender is able
to demonstrate that the payment could have been made to the Lender without a Tax Deduction had the Borrower complied with its obligations under clause (i)(A) below. 
 (g) If a Borrower is required to make a Tax Deduction, that Borrower shall make that Tax Deduction and any payment required in connection with that Tax Deduction within the time allowed and in the minimum
amount required by law. 
 (h) Within 30 days of making either a Tax Deduction or any payment required in connection with
that Tax Deduction, the Borrower making that Tax Deduction shall deliver to the Agent for the Lender entitled to the payment a statement under Section 975 of the Income Tax Act 2007 or other evidence reasonably satisfactory to the Lender that
the Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority. 
 (i)

  
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 (A) Treaty Lender and each Borrower which makes a payment to which that
Treaty Lender is entitled shall co-operate in completing any procedural formalities necessary for that Borrower to obtain authorization to make that payment without a Tax Deduction. 

(B) Without prejudice to the generality of clause (A) above, each Treaty Lender shall, either (1) file not more
than ten Business Days after the date it became a Lender under this Agreement with the relevant taxing authority such properly completed and executed documentation required in order for each relevant Borrower to make payment to that Treaty Lender
without a Tax Deduction; or (2) notify the Company not more than ten Business Days after the date it became a Lender under this Agreement of its HMRC DT Treaty Passport scheme (the “Scheme”) reference number and the
jurisdiction in which it is resident for Tax purposes. If a Treaty Lender provides a notification to a UK Borrower under (2) above, the UK Borrower shall file a duly completed form DTTP2 in respect of such Lender with H.M. Revenue &
Customs within 30 Business Days of the date on which the Lender became a Lender under this Agreement. Each Treaty Lender shall file such properly completed and executed documentation required to renew any authorization (including a passport issued
to the Lender under the Scheme) for each relevant Borrower to make payment to that Treaty Lender without a Tax Deduction no less than 20 Business Days before such authorization expires or becomes obsolete. 

(C) Each Treaty Lender shall, if requested by a relevant Borrower, notify such Borrower of any filings made by it in
accordance with this paragraph (i). Each Borrower, shall if requested by a relevant Treaty Lender, notify such Treaty Lender of any filings made by it in accordance with this paragraph (i). 

(j) Each Borrower shall (within 3 Business Days of demand by the Agent) pay to a Protected Party an amount equal to the loss,
liability or cost which that Protected Party determines will be or has been (directly or indirectly) suffered for or on account of UK Tax by that Protected Party in respect of a Loan Document. 

(k) Paragraph (j) above shall not apply with respect to any UK Tax assessed on a Protected Party: 

 

	 	(A)	under the law of the jurisdiction in which that Protected Party is incorporated or, if different, the jurisdiction (or jurisdictions) in which that Protected Party is
treated as resident for tax purposes; or 

  

	 	(B)	under the law of the jurisdiction in which that Protected Party’s facility office is located in respect of amounts received or receivable in that jurisdiction,

 if that UK Tax is imposed on or calculated by reference to the net income received or receivable (but not any
sum deemed to be received or receivable) by that Protected Party. 
 (l) Furthermore, paragraph (j) above shall not apply
to the extent a loss, liability or cost: 
  

	 	(A)	is compensated for by an increased payment under paragraphs (c) to (h) above; or 

  
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	 	(B)	would have been compensated for by an increased payment under paragraphs (c) to (h) above but was not so compensated solely because one of the exclusions
in paragraph (f) applied. 

 (m) A Protected Party making, or intending to make a claim under paragraph
(j) above shall promptly notify the Agent of the event which will give, or has given, rise to the claim, following which the Agent shall notify the Borrower. 
 (n) A Protected Party shall, on receiving a payment from a Borrower under paragraph (j), notify the Agent. 
 (o) If a Borrower makes a Tax Payment and the relevant Lender determines that: 
  

	 	(A)	a Tax Credit is attributable to that Tax Payment; and 

  

	 	(B)	that Lender has obtained, utilized and retained that Tax Credit, 

 the relevant Lender shall pay an amount to the Borrower which that Lender determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been
made by the Borrower. 
 (p) Each Borrower shall pay and, within three Business Days of demand, indemnify each Lender against
any cost, loss or liability that Lender incurs in relation to all stamp duty, registration and other similar UK Taxes payable in respect of any Loan Document (excluding, for the avoidance of doubt, any such UK Tax arising in connection with an
assignment or transfer by that Lender of its rights under any Loan Document). 
 (q) All amounts set out, or expressed to be
payable under a Loan Document by any party to a Lender which (in whole or part) constitute the consideration for VAT purposes shall be deemed to be exclusive of any VAT which is chargeable on such supply, and accordingly, subject to paragraph
(r) below, if VAT is chargeable on any supply made by any Lender to any party under a Loan Document, that party shall pay to the Lender (in addition to and at the same time as paying the consideration) an amount equal to the amount of the VAT
(and such Lender shall promptly provide an appropriate VAT invoice to such party). 
 (r) Where a Loan Document requires any
party to reimburse a Lender for any costs or expenses, that party shall also at the same time pay and indemnify the Lender against all VAT incurred by the Lender in respect of the costs or expenses to the extent that the Lender reasonably determines
that neither it nor any other member of any group of which it is a member for VAT purposes is entitled to credit or repayment from the relevant tax authority in respect of the VAT. 

3.7. Lender Statements; Survival of Indemnity. To the extent reasonably possible, each Lender shall designate an alternate Lending
Installation with respect to its Eurocurrency Loans to reduce any liability of the Borrowers to such Lender under Sections 3.1, 3.2, 3.5 and 3.6 or to avoid the unavailability of Eurocurrency Advances under Section 3.3, so long as such
designation is not, in the judgment of such Lender, disadvantageous to such Lender. Each Lender shall deliver a written statement of such Lender to the applicable Borrower (with a copy to the Agent) as to the amount due, if any, under
Section 3.1, 3.2, 3.4, 3.5 or 3.6. Such written statement shall set forth in reasonable detail the calculations upon which such Lender determined such amount and shall be final, conclusive and binding on such Borrower in the absence of manifest
error. Determination of amounts payable under such Sections in connection with a Eurocurrency Loan shall be calculated as though each Lender funded its Eurocurrency Loan through the purchase of a deposit of the type, currency and maturity
corresponding to the deposit used as a reference in determining the Eurocurrency Rate applicable to such Loan, whether in fact that is the case or not. Unless otherwise provided herein, the amount specified in the written statement of any Lender
shall be payable on demand after receipt by the applicable Borrower of such written statement. The obligations of the Borrowers under Sections 3.1, 3.2, 3.4, 3.5 and 3.6 shall survive payment of the Obligations and termination of this Agreement.

  
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 ARTICLE IV 
 CONDITIONS PRECEDENT 
 4.1. Effectiveness of Agreement and
Initial Credit Extension. Notwithstanding the execution and delivery of this Agreement on the Closing Date, this Agreement shall not become effective, the Existing Credit Agreement shall not be superseded as provided in Section 1.3, no
commitment to make Credit Extensions shall arise and no Lender shall be required to make the initial Credit Extension hereunder unless, on or before March 31, 2011: 

(a) the Company has furnished to the Agent with sufficient copies for the Lenders: 

 

	 	(i)	Copies of the articles or certificate of incorporation (or comparable constituent document) of each Loan Party, together with all amendments, and a certificate of good
standing, each certified by the appropriate governmental officer in its jurisdiction of incorporation or organization, as well as any other information required by Section 326 of the USA PATRIOT Act or necessary for the Agent or any Lender to
verify the identity of any Loan Party as required by Section 326 of the USA PATRIOT Act. 

  

	 	(ii)	Copies, certified by the Secretary or Assistant Secretary of each Loan Party, of its by-laws (or comparable governing document) and of its Board of Directors’
resolutions and of resolutions or actions of any other body authorizing the execution of the Loan Documents to which such Loan Party is a party. 

  

	 	(iii)	An incumbency certificate, executed by the Secretary or Assistant Secretary of each Loan Party, which shall identify by name and title and bear the signatures of the
Financial Officers of the Company and any other officers of any Loan Party authorized to sign the Loan Documents to which such Loan Party is a party, upon which certificate the Agent and the Lenders shall be entitled to rely until informed of any
change in writing by such Loan Party. 

  

	 	(iv)	A certificate, signed by a Financial Officer of the Company, stating that on the Closing Date (A) the representations and warranties contained in Article V are
true and correct and (B) no Default or Unmatured Default has occurred and is continuing. 

  

	 	(v)	Written opinions of the Loan Parties’ U.S. and U.K. counsel, addressed to the Agent and the Lenders in substantially the forms attached hereto as Exhibit A.

  

	 	(vi)	Any Notes requested by a Lender pursuant to Section 2.13 payable to each such requesting Lender. 

 

	 	(vii)	Audited consolidated financial statements of the Company for the fiscal years ended August 31, 2009 and August 31, 2010 and unaudited consolidated financial
statements of the company for the fiscal quarter ended November 30, 2010 (such financial statements, collectively, the “Historical Financial Statements”). 

  
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	 	(viii)	Satisfactory financial statement projections through and including the fiscal year ended August 31, 2016, together with such additional financial information as
the Agent shall reasonably request (including, without limitation, a summary of the assumptions used in preparing such projections). 

  

	 	(ix)	An opening compliance certificate in substantially the form of Exhibit B signed by a Financial Officer of the Company showing the calculations necessary to determine
compliance with the covenants contained in Section 6.19 and 6.21 of this Agreement, which calculations shall be prepared in a manner acceptable to the Agent and the Lenders (the “Opening Pro Forma Compliance Certificate”).

  

	 	(x)	(a) from (i) each party hereto (including Departing Lenders) either (A) a counterpart of this Agreement signed on behalf of such party or (B) written
evidence satisfactory to the Agent (which may include facsimile or electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement or, in the case of a Departing Lender, that such
Departing Lender has consented to the terms set forth in Section 1.3 hereof and (ii) each Loan Party either (A) a counterpart signed on behalf of such Loan Party or (B) written evidence satisfactory to the Agent (which may
include facsimile or electronic transmission of a signed signature page of such Loan Party) that such Loan Party has signed a counterpart, of each Loan Document to which it is a party, including, without limitation, the Domestic Subsidiary Guaranty
(in the case of each Domestic Subsidiary Guarantor), each Subsidiary Guaranty of a Foreign Subsidiary Borrower, the Security Agreement, and such other Collateral Documents and Loan Documents as the Agent or its counsel may have reasonably requested,
and (b) any other instrument, documents, agreements opinions or certificates listed on the List of Closing Documents attached hereto as Schedule 4.1 and not otherwise listed herein. 

 

	 	(xi)	Schedules and Exhibits to this Agreement in form and substance satisfactory to the Lenders. 

 

	 	(xii)	Such other documents as any Lender or its counsel may have reasonably requested. 

 

	 	(xiii)	If the initial Credit Extension will be the issuance of a Facility LC (other than the deemed issuance of any Existing Letters of Credit), a properly completed Facility
LC Application. 

 (b) (i) The Agent (for the benefit of itself and the other parties entitled
thereto) and the Lead Arrangers shall have received all fees and other amounts due and payable on or prior to the Closing Date (including fees for the account of the Lenders), including (x) to the extent invoiced, reimbursement or payment of
all reasonable out-of-pocket expenses required to be reimbursed or paid by the Company hereunder, and (y) all accrued and unpaid interest under the Existing Credit Agreement and all accrued and unpaid fees under Sections 2.5(a) and 2.19.4 of
the Existing Credit Agreement, and (ii) the Departing Lenders shall have been repaid in full as contemplated by Section 1.3 on the Closing Date, substantially concurrently with the effectiveness hereof. Without limiting the foregoing, if,
after giving effect to the transactions contemplated hereby on the Closing Date (including, without limitation, the reduction of the Aggregate Revolving Commitment), the aggregate Revolving Exposures exceed the Aggregate Revolving Commitment, then
the Company shall prepay Loans on the Closing Date in such amounts as shall be necessary to eliminate such excess. 

  
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 4.2. Initial Advance to each Additional Foreign Subsidiary Borrower. The Lenders
shall not be required to make a Revolving Loan hereunder to or with respect to any Foreign Subsidiary Borrower which may become a party hereto on or after the Closing Date, unless (without duplication of deliveries that may have been made pursuant
to Section 4.1 on the Closing Date): 
 (a) the Company or such Foreign Subsidiary Borrower has furnished or
caused to be furnished to the Agent with sufficient copies for the Lenders, in each case, in form and substance reasonably satisfactory to the Agent: 
  

	 	(i)	In the case of the UK Borrowers, a duly executed and delivered signature page hereto, and in the case of a Dutch Borrower an Assumption Letter executed and delivered by
such Dutch Borrower and containing the written consent of each other Borrower, as contemplated by Section 2.24.1. 

  

	 	(i)	Copies, certified by the Company Secretary, Assistant Secretary, managing director(s) or other authorized representative of such Foreign Subsidiary Borrower, if
applicable, of its Board of Directors’ resolutions (and resolutions of other bodies, if any are deemed necessary by counsel for any Lender) approving the terms of the entry into and the transactions contemplated by the Assumption Letter and the
other Loan Documents to which such Foreign Subsidiary Borrower is a party, authorizing the execution of the incumbency certificate and approving the individuals set out therein to execute all other documents, certificates and notices in connection
with the transaction and the Loan Documents on its behalf. 

  

	 	(ii)	Copies, certified by the Company Secretary, Assistant Secretary, managing director(s) or other authorized representative of the constitutional documents of such Foreign
Subsidiary Borrower. 

  

	 	(iii)	An incumbency certificate, executed by the Secretary, Assistant Secretary, managing director(s) or other authorized representative of such Foreign Subsidiary Borrower,
which shall identify by name and title and bear the signature of the officers, proxyholder or managing director(s) of such Foreign Subsidiary Borrower authorized to sign the Assumption Letter and the other Loan Documents to which such Foreign
Subsidiary is a party, and all other documents and notices to be signed or dispatched by it under or in connection with this Agreement or the other Loan Documents, upon which certificate the Agent and the Lenders shall be entitled to rely until
informed of any change in writing by the Company. 

  

	 	(iv)	(A) A written opinion of counsel to such Foreign Subsidiary Borrower, with respect to the laws of its jurisdiction of organization, addressed to the Agent and the
Lenders and (B) a written opinion of U.S. counsel to the Company and such Foreign Subsidiary Borrower, addressed to the Agent and the Lenders. 

  

	 	(v)	Promissory notes payable to each of the Lenders requesting promissory notes pursuant to Section 2.13(d) hereof. 

 

	 	(vi)	All documentation and other information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and
regulations, including the USA PATRIOT Act and (if applicable). 

  
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	 	(vii)	In the case of a Dutch Subsidiary, the Agent shall have received from such Dutch Subsidiary (A) an original up-to-date extract from the Chamber of Commerce Trade
Register and (B) a confirmation by an authorized signatory of such Dutch Subsidiary that there is no works council with jurisdiction over the transactions as envisaged by any Loan Document, or, if a works council is established, a confirmation
that all consultation obligations in respect of such works council have been complied with and that positive unconditional advice has been obtained, attaching a copy of the works council’s advice on the transactions as envisaged by the Loan
Documents and a copy of the request for such advice. 

  

	 	(viii)	In the case of a UK Subsidiary, a valid direction from Her Majesty’s Revenue and Customs authorizing such Subsidiary to make interest payments hereunder to any
Lender which is: 

  

	 	(A)	a Treaty Lender (as defined in Section 3.6(a)) with no withholding or deduction for or on account of UK Tax; or 

 

	 	(B)	a resident of a jurisdiction having a double taxation agreement with the United Kingdom that makes provision for relief by way of reduction of (rather than exemption
from) tax imposed by the United Kingdom on interest and which does not carry on a business in the United Kingdom through a permanent establishment with which that Lender’s participation in the Loan is effectively connected, with the minimum
withholding or deduction for or on account of UK Tax resulting from the application of such relief. 

  

	 	(ix)	Such other notices, instruments, documents, opinions, documents of title and certificates as any Lender or its counsel may have reasonably requested.

 (b) the Company has, and has caused each applicable Subsidiary to, deliver all such documents,
notices, instruments, opinions, documents of title and certificates as shall be required in order to permit the Borrowers to be in compliance with Section 6.21(d) after giving effect to the joinder of such Foreign Subsidiary Borrower hereto.

 4.3. Each Credit Extension. The Lenders shall not (except as otherwise set forth in Section 2.4.4 with respect to
Revolving Loans for the purpose of repaying Swing Line Loans) be required to make any Credit Extension unless on the applicable Credit Extension Date: 
  

	 	(i)	No Default or Unmatured Default exists or would exist immediately after giving effect to such Credit Extension. 

 

	 	(ii)	The representations and warranties contained in Article V are true and correct as of such Credit Extension Date except to the extent any such representation or warranty
is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct on and as of such earlier date. 

 

	 	(iii)	All legal matters incident to the making of such Credit Extension shall be satisfactory to the Lenders and their counsel. 

Each Borrowing Notice or Swing Line Borrowing Notice, as the case may be, or request for issuance or Modification of a Facility LC with
respect to each such Credit Extension shall constitute a representation and warranty by the applicable Borrower that the conditions contained in Sections 4.3(i) and (ii) have been satisfied. 

  
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 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES 
 Each Borrower (as to itself and its
Subsidiaries) represents and warrants to the Lenders that: 
 5.1. Existence and Standing. Each of the Company and its
Subsidiaries is a corporation, partnership (in the case of Subsidiaries only) or limited liability company duly and properly incorporated or organized, as the case may be, validly existing and (to the extent such concept applies to such entity) in
good standing under the laws of its jurisdiction of incorporation or organization and has all requisite authority to conduct its business in all material respects in each jurisdiction in which its business is conducted, except for any failure (other
than by any Loan Party or any Material Foreign Subsidiary) to be in compliance with the foregoing that could not, individually or collectively, reasonably be expected to have a Material Adverse Effect. 

5.2. Authorization and Validity. Each Loan Party has the power and authority and legal right to execute and deliver the Loan
Documents to which it is a party and to perform its obligations thereunder. The execution and delivery by each Loan Party of the Loan Documents to which it is a party and the performance of its obligations thereunder have been duly authorized by
proper corporate or other applicable proceedings, and the Loan Documents to which such Loan Party is a party constitute legal, valid and binding obligations of such Loan Party enforceable against such Loan Party in accordance with their terms,
except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or, in the case of any Foreign Subsidiary Borrower, by any general principles of law limiting its
obligations which are specifically referred to on any legal opinion delivered pursuant to Section 4.2. 
 5.3. No
Conflict; Government Consent. Neither the execution and delivery by each Loan Party of the Loan Documents to which it is a party, nor the consummation of the transactions therein contemplated, nor compliance with the provisions thereof will
violate (i) any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on the Company or any of its Subsidiaries or (ii) the Company’s or any Subsidiary’s articles or certificate of incorporation,
partnership agreement, certificate of partnership, articles or certificate of organization, by-laws, or operating or other management agreement (or any comparable constituent document), as the case may be, or (iii) the provisions of any
indenture, instrument or agreement to which the Company or any of its Subsidiaries is a party or is subject, or by which it, or its Property, is bound (including, without limitation, any Senior Note Documents or Subordinated Indebtedness Documents),
or conflict with or constitute a default thereunder, or result in, or require, the creation or imposition of any Lien in, of or on the Property of the Company or a Subsidiary pursuant to the terms of any such indenture, instrument or agreement. No
order, consent, adjudication, approval, license, authorization, or validation of, or filing, recording or registration with, or exemption by, or other action in respect of any governmental or public body or authority, or any subdivision thereof,
which has not been obtained by the Company or any of its Subsidiaries, is required to be obtained by the Company or any of its Subsidiaries in connection with the execution and delivery of the Loan Documents, the borrowings under this Agreement, the
payment and performance by the Borrowers of the Secured Obligations or the legality, validity, binding effect or enforceability of any of the Loan Documents. 
 5.4. Financial Statements. (a) The Historical Financial Statements of the Company and its Subsidiaries heretofore delivered to the Lenders were prepared in accordance with generally accepted
accounting principles in effect on the date such statements were prepared and fairly present the consolidated financial condition and operations of the Company and its Subsidiaries at such dates and the consolidated results of their operations for
the periods then ended. 

  
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 (b) All pro forma financial statements or any projections furnished by or on
behalf of the Company or any Subsidiary to the Agent or any Lender in connection with the negotiation of, or compliance with, the Loan Documents (including, without limitation, the financial statements that serve as the basis for the computations in
the Opening Pro Forma Compliance Certificate), were prepared in good faith based upon reasonable assumptions at the time of preparation. 
 5.5. Material Adverse Change. Since August 31, 2010, there has been no change in the business, Property, condition (financial or otherwise) or results of operations of the Company and its
Subsidiaries which could reasonably be expected to have a Material Adverse Effect. 
 5.6. Taxes. The Company and its
Subsidiaries have filed all material United States federal tax returns and all other material tax returns which are required to be filed and have paid all material taxes due pursuant to said returns or pursuant to any assessment received by the
Company or any of its Subsidiaries, except such taxes, if any, as are being contested in good faith and as to which adequate reserves have been provided in accordance with GAAP and as to which no Lien exists. The United States income tax returns of
the Company and its Subsidiaries (other than Persons who became Subsidiaries of the Company after August 31, 2006) through the fiscal year ended August 31, 2006, are closed for audit by the Internal Revenue Service. No tax liens have been
filed and no claims are being asserted with respect to any such taxes which could reasonably be expected to have a Material Adverse Effect. The charges, accruals and reserves on the books of the Company and its Subsidiaries in respect of any taxes
or other governmental charges are adequate. 
 5.7. Litigation and Contingent Obligations. Except as set forth on
Schedule 5.7, there is no litigation, arbitration, governmental investigation, proceeding or inquiry pending or, to the knowledge of any of their officers, threatened against or affecting the Company or any of its Subsidiaries which could reasonably
be expected to have a Material Adverse Effect or which seeks to prevent, enjoin or delay the making of any Credit Extensions or any other transactions contemplated by the Loan Documents. Other than any liability incident to any litigation,
arbitration or proceeding which (i) could not reasonably be expected to have a Material Adverse Effect or (ii) is set forth on Schedule 5.7, the Company and its Subsidiaries have no material Contingent Obligations not provided for or
disclosed in the financial statements referred to in Section 5.4. 
 5.8. Subsidiaries. Schedule 5.8 contains an
accurate list of all Subsidiaries of the Company as of the Closing Date, setting forth their respective jurisdictions of organization and the percentage of their respective capital stock or other ownership interests owned by the Company or other
Subsidiaries. All of the issued and outstanding shares of capital stock or other ownership interests of such Subsidiaries have been (to the extent such concepts are relevant with respect to such ownership interests) duly authorized and issued and
are fully paid and non-assessable. Schedule 1.2 contains an accurate list of all of the Company’s Material Domestic Subsidiaries and their respective jurisdictions of organization as of the Closing Date. Schedule 1.3 contains an accurate list
of all of the Company’s Material Foreign Subsidiaries and their respective jurisdictions of organization as of the Closing Date. 
 5.9. Employee Benefit Plans. (a) The Unfunded Liabilities of all Single Employer Plans do not in the aggregate exceed $25,000,000, and no Single Employer Plan has any Unfunded Liabilities for
which a minimum funding waiver request under Section 412 of the Code or Section 302 of ERISA has been filed or is reasonably anticipated to be filed. Neither the Company nor any other member of the Controlled Group has incurred, or is
reasonably expected to incur, any withdrawal liability to Multiemployer Plans in excess of $20,000,000 in the aggregate. Each Single Employer Plan complies with all applicable requirements of law and regulations, except for any failure to comply
that could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; no Reportable Event has occurred with respect to any Plan that, together with all other Reportable Events that have occurred and are
continuing, could reasonably be expected to result in liability to the Company and its Subsidiaries in an aggregate amount in excess of $20,000,000; neither the Company nor any other member of the Controlled Group has withdrawn from any
Multiemployer Plan or Multiple Employer Plan or initiated steps to do so; and no steps have been taken to reorganize any Multiemployer Plan or terminate any Plan under Section 4041(c) or 4042 of ERISA. 

  
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 (b) Each Foreign Pension Plan is in compliance with all requirements of law
applicable thereto and the respective requirements of the governing documents for such plan except to the extent such non-compliance could not reasonably be expected to result in a Material Adverse Effect. With respect to each Foreign Pension Plan,
none of the Company, its Affiliates or any of its directors, officers, employees or agents has engaged in a transaction, or other act or omission (including entering into this Agreement and any act done or to be done in connection with this
Agreement), that has subjected, or could reasonably be expected to subject, the Company or any of the Subsidiaries, directly or indirectly, to any penalty (including any tax or civil penalty), fine, claim or other liability (including any liability
under a contribution notice or financial support direction (as those terms are defined in the United Kingdom Pensions Act 2004), or any liability or amount payable under section 75 or 75A of the United Kingdom Pensions Act 1995), that could
reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect and there are no facts or circumstances which may give rise to any such penalty, fine, claim, or other liability. With respect to each Foreign Pension Plan,
reserves have been established in the financial statements furnished to Lenders in respect of any unfunded liabilities in accordance with applicable law or, where required, in accordance with ordinary accounting practices in the jurisdiction in
which such Foreign Pension Plan is maintained. The aggregate unfunded liabilities, with respect to such Foreign Pension Plans could not reasonably be expected to result in a Material Adverse Effect. There are no actions, suits or claims (other than
routine claims for benefits) pending or threatened against the Company or any of its Affiliates with respect to any Foreign Pension Plan which could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.

 5.10. Accuracy of Information. No information, exhibit or report furnished by any Borrower or any of their respective
Subsidiaries to the Agent or to any Lender in connection with the negotiation of, or compliance with, the Loan Documents contained any material misstatement of fact or omitted to state a material fact or any fact necessary to make the statements
contained therein not misleading in any material respect. 
 5.11. Regulation U. Margin stock (as defined in Regulation
U) constitutes less than 25% of the value of those assets of the Company and its Subsidiaries which are subject to any limitation on sale, pledge, or other restriction hereunder, and none of the Collateral is margin stock. 

5.12. Material Agreements. Neither the Company nor any Subsidiary is a party to any agreement or instrument or subject to any
charter or other corporate restriction the compliance with which could reasonably be expected to have a Material Adverse Effect. Neither the Company nor any Subsidiary is in default in the performance, observance or fulfillment of any of the
obligations, covenants or conditions contained in any agreement to which it is a party, which default could reasonably be expected to have a Material Adverse Effect. 
 5.13. Compliance With Laws. The Company and its Subsidiaries have complied with all applicable statutes, rules, regulations, orders and restrictions of any domestic or foreign government or any
instrumentality or agency thereof having jurisdiction over the conduct of their respective businesses or the ownership of their respective Property, except for any failure to comply with any of the foregoing which could not reasonably be expected to
have a Material Adverse Effect. Furthermore, to the extent that any Dutch Borrower would qualify as a credit institution (kredietinstelling) under the Dutch Financial Supervision Act, it is in compliance therewith. 

  
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 5.14. Ownership of Properties. On the Closing Date, the Company and its Subsidiaries
will have good title, free of all Liens other than those permitted by Section 6.15, to all of the Property and assets reflected in the Company’s most recent consolidated financial statements provided to the Agent as owned by the Company
and its Subsidiaries, except as sold or otherwise disposed of in the ordinary course of business, other than defects in title that do not in the aggregate materially detract from the value of the property or assets of the Company and the
Subsidiaries, taken as a whole, and do not materially impair the use thereof in the operation of the business of the Company and the Subsidiaries, taken as a whole. 
 5.15. Insurance. Schedule 5.15 sets forth a true, complete and correct description of all material insurance maintained by the Company or by the Company for its Subsidiaries as of the Closing Date.
As of such date, such insurance is in full force and effect and all premiums have been duly paid. The Company and its Subsidiaries have insurance in such amounts and covering such risks and liabilities as are in accordance with normal industry
practice and have adequate reserves for all deductibles and self-insurance programs. 
 5.16. Environmental Matters. In
the ordinary course of its business, the officers of the Company consider the effect of Environmental Laws on the business of the Company and its Subsidiaries, in the course of which they identify and evaluate potential risks and liabilities
accruing to the Company due to Environmental Laws. On the basis of this consideration, the Company has concluded that compliance with applicable Environmental Laws cannot reasonably be expected to have a Material Adverse Effect. Neither the Company
nor any Subsidiary has received any notice to the effect that its operations are not in material compliance with any of the requirements of applicable Environmental Laws or are the subject of any federal or state investigation evaluating whether any
remedial action is needed to respond to a release of any toxic or hazardous waste or substance into the environment, which non-compliance or remedial action could reasonably be expected to have a Material Adverse Effect. 

5.17. Investment Company Act. Neither the Company nor any Subsidiary is an “investment company” or a company
“controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended. 
 5.18. Centre of Main Interests and Establishment. Each Foreign Subsidiary Borrower represents and warrants to the Lenders that its centre of main interests (as that term is used in Article 3(1) of
the Regulation) is in its jurisdiction of incorporation and it has no Establishment in any other jurisdiction 
 5.19.
Security Interest in Collateral. The provisions of this Agreement and the other Loan Documents create legal and valid perfected Liens on all the Collateral in favor of the Agent to the extent required under the Collateral Documents, for the
benefit of the Holders of Secured Obligations, and such Liens constitute perfected and continuing Liens on the Collateral, securing the Secured Obligations, enforceable against the applicable Loan Party and all third parties, and having priority
over all other Liens on the Collateral to the extent required under the Collateral Documents, except in the case of (a) Liens permitted under Section 6.15, to the extent any such Lien would have priority over the Liens in favor of the
Agent pursuant to any applicable law and (b) Liens perfected only by possession (including possession of any certificate of title) or control to the extent the Agent has not obtained or does not maintain possession or control of such
Collateral. 

  
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 5.20. OFAC; USA PATRIOT Act, etc. 

(a) Neither the Company nor any of its Subsidiaries (i) is a person whose property or interest in property is blocked
or subject to blocking pursuant to Section 1 of Executive Order 13224 of September 23, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)),
(ii) engages in any dealings or transactions prohibited by Section 2 of such executive order, or is otherwise associated with any such person in any manner violative of Section 2, or (iii) is a person on the list of Specially
Designated Nationals and Blocked Persons or subject to the limitations or prohibitions under any other U.S. Department of Treasury’s Office of Foreign Assets Control regulation or executive order. 

(b) The Company and each of its Subsidiaries is in compliance, in all material respects, with (i) the Trading with
the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and
(ii) the USA PATRIOT Act. No part of the proceeds of the Loans will be used, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or
anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended. 

5.21. Solvency. Both before and after giving effect to (a) the initial Credit Extensions to be made or incurred on the
Closing Date or such other date as Loans and Facility LCs requested hereunder are made or incurred, (b) the disbursement of the proceeds of such Loans pursuant to the instructions of the Borrowers and (c) the payment and accrual of all
fees, costs and expenses in connection with the foregoing, each Loan Party is and will be Solvent. 
 5.22. No Default or
Unmatured Default. No Default or Unmatured Default has occurred and is continuing. 
 5.23. Special Representations and
Warranties of each Foreign Subsidiary Borrower. Each Foreign Subsidiary Borrower represents and warrants to the Lenders as provided in this Section 5.23 that: 

5.23.1. Filing. To ensure the enforceability or admissibility in evidence of this Agreement and any Notes requested
to be issued hereunder by any Foreign Subsidiary Borrower in its jurisdiction of organization (hereinafter referred to as its “Home Country”), it is not necessary that this Agreement or any such Notes or any other document be filed
or recorded with any court or other authority in its Home Country or that any stamp or similar tax be paid to or in respect of this Agreement or any such Notes of such Foreign Subsidiary Borrower. To the knowledge of such Foreign Subsidiary
Borrower, the qualification by any Lender or the Agent for admission to do business under the laws of its Home Country does not constitute a condition to, and the failure to so qualify does not affect, the exercise by any Lender or the Agent of any
right, privilege, or remedy afforded to any Lender or the Agent in connection with the Loan Documents to which such Foreign Subsidiary Borrower is a party or the enforcement of any such right, privilege, or remedy against such Foreign Subsidiary
Borrower. The performance by any Lender or the Agent of any action required or permitted under the Loan Documents will not (i) to the knowledge of such Foreign Subsidiary Borrower, violate any law or regulation of such Foreign Subsidiary
Borrower’s Home Country or any political subdivision thereof, (ii) to the knowledge of such Foreign Subsidiary Borrower, result in any tax (other than any withholding tax for which the Company has provided an indemnity in accordance with
the proviso set forth below) or other monetary liability to such party pursuant to the laws of such Foreign Subsidiary Borrower’s Home Country or political subdivision or taxing authority thereof or otherwise (provided that, should any
such action result in any such tax or other monetary liability to the Lender or the Agent, the Company hereby agrees to indemnify such Lender or the Agent, as the case may be, against (x) any such tax or other monetary liability and
(y) any increase in any tax or other monetary liability which results from such action by such Lender or the Agent and, to the extent the Company makes such indemnification, the incurrence of such liability by the Agent or any Lender will not
constitute a Default) or (iii) violate any rule or regulation of any federation or organization or similar entity applicable to such Foreign Subsidiary Borrower of which such Foreign Subsidiary Borrower’s Home Country is a member.

  
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 5.23.2. No Immunity. Neither such Foreign Subsidiary Borrower nor any
of its assets is entitled to immunity from suit, execution, attachment or other legal process. Such Foreign Subsidiary Borrower’s execution and delivery of the Loan Documents to which it is a party constitute, and the exercise of its rights and
performance of and compliance with its obligations under such Loan Documents will constitute, private and commercial acts done and performed for private and commercial purposes. 

ARTICLE VI 

COVENANTS 
 During the term of this Agreement: 
 6.1. Financial Reporting. The Company
will maintain, for itself and each Subsidiary, a system of accounting established and administered in accordance with GAAP, and furnish to the Agent (for further distribution to each Lender): 

 

	 	(i)	Within 90 days after the end of each fiscal year, its consolidated and consolidating balance sheet and related statements of income and cash flows showing the
financial condition of the Company and the Subsidiaries as of the close of such fiscal year and the results of the operations of the Company and the Subsidiaries during such year, all in reasonable detail, setting forth in each case in comparative
form (a) the corresponding statements for the preceding fiscal year and (b) the budget corresponding to such period previously provided pursuant to Section 6.1(iii). Any such consolidated financial statements shall have been audited
by PricewaterhouseCoopers LLP or other independent public accountants of recognized national standing, and shall be accompanied by (x) an opinion of such accountants (which shall not be qualified in any material respect) to the effect that such
consolidated financial statements fairly present in all material respects the financial condition and results of operations of the Company and the Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, (y) any
management letter prepared by such accountants and (z) at the reasonable request of the Agent, a certificate of such accountants that, in the course of their examination necessary for their certification of the foregoing, they have obtained no
knowledge of any Default or Unmatured Default, or if, in the opinion of such accountants, any Default or Unmatured Default shall exist, stating the nature and status thereof. 

  
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	 	(ii)	Within 45 days after the end of each of the first three fiscal quarters of each fiscal year, its consolidated and consolidating balance sheet and related
statements of income and cash flows showing the financial condition of the Company and the Subsidiaries as of the close of such fiscal quarter and the results of the operations of the Company and the Subsidiaries during such fiscal quarter and the
then elapsed portion of the fiscal year, all in reasonable detail and certified by one of its Financial Officers as fairly presenting in all material respects the financial condition and results of operations of each of the Company and the
Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments, setting forth in each case in comparative form the corresponding statements for the corresponding period in the
preceding fiscal year. 

  

	 	(iii)	No later than 75 days following the first day of each fiscal year of the Company, a budget in form reasonably satisfactory to the Agent (including budgeted statements
of income by each of the Company’s business segments and consolidated as to sources and uses of cash and balance sheets) prepared by the Company for each of the four quarters of such fiscal year prepared in the same level of detail as prepared
for and delivered to the Company’s board of directors, in each case, of the Company and the Subsidiaries, accompanied by the statement of a Financial Officer of the Company to the effect that the budget is a reasonable estimate for the period
covered thereby. 

  

	 	(iv)	Together with the financial statements required under Sections 6.1(i) and (ii), a compliance certificate in substantially the form of Exhibit B signed by one of its
Financial Officers showing the calculations necessary to determine compliance with the covenants contained in Section 6.19 and 6.21 of this Agreement and stating that no Default or Unmatured Default exists, or if any Default or Unmatured
Default exists, stating the nature and status thereof, and attaching any updates to the Exhibits to the Security Agreement if required pursuant to the terms thereof. 

 

	 	(v)	As soon as possible and in any event within 10 days after (a) the United Kingdom Pensions Regulator issuing a financial support direction or a contribution notice
(as those terms are defined in the Pensions Act 2004) in relation to any Foreign Pension Plan, (b) any amount is due to any Foreign Pension Plan pursuant to Section 75 or 75A of the United Kingdom Pensions Act 1995, (c) an amount
becomes payable under section 75 or 75A of the United Kingdom Pensions Act of 1995 and/or (d) the Company knows that any Reportable Event has occurred with respect to any Plan, a statement, signed by a Financial Officer of the Company,
describing such matter or event and the action which the Company proposes to take with respect thereto. 

  

	 	(vi)	Promptly upon the furnishing thereof to the shareholders of the Company, copies of all financial statements, reports and proxy statements so furnished. So long as the
Company is a public company for reporting purposes under the Exchange Act, compliance with clause (vii) below shall be deemed to be in compliance with this clause (vi). 

 

	 	(vii)	Promptly upon the filing thereof, copies of all registration statements and annual, quarterly, monthly or other regular reports which the Company or any of its
Subsidiaries files with the Securities and Exchange Commission. 

  

	 	(viii)	If requested by the Agent, together with the financial statements required under Section 6.1(i), a certificate of good standing for the Company and (to the extent
such concept applies to such entity) each other Person which has pledged collateral in support of the Secured Obligations from the appropriate governmental officer in its jurisdiction of incorporation or organization. 

  
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	 	(ix)	Such other information (including non-financial information) as the Agent or any Lender may from time to time reasonably request. 

If any information which is required to be furnished to the Lenders under this Section 6.1 is required by law or regulation to be
filed by the Company with a government body on an earlier date, then the information required hereunder shall be furnished to the Lenders at such earlier date. 
 6.2. Use of Proceeds. Each Borrower will, and will cause each Subsidiary to, use the proceeds of each of the Credit Extensions for general corporate purposes, including, without limitation,
liquidity support for commercial paper, for Permitted Acquisitions, to refinance certain existing indebtedness and for working capital purposes. No Borrower will, nor will it permit any Subsidiary to, use any of the proceeds of the Advances to
purchase or carry any “margin stock” (as defined in Regulation U). 
 6.3. Notice of Default. The Company will,
and will cause each Subsidiary to, give prompt notice in writing to the Agent (for further distribution to each Lender) of the occurrence of any Default or Unmatured Default and of any other development, financial or otherwise, which could
reasonably be expected to have a Material Adverse Effect. 
 6.4. Conduct of Business. The Company will, and will cause
each Subsidiary to, carry on and conduct its business in substantially the same manner as it is presently conducted and in (and only in) lines of business reasonably related to industrial manufacturing and distribution (including the rental of
industrial equipment and the provision of services related to industrial equipment) and do all things necessary to remain duly incorporated or organized, validly existing and (to the extent such concept applies to such entity) in good standing as a
domestic corporation, partnership or limited liability company in its jurisdiction of incorporation or organization, as the case may be, and maintain all requisite authority to conduct its business in all material respects in each jurisdiction in
which its business is conducted, in each case, except to the extent that a failure to do so could not reasonably be expected to have a Material Adverse Effect. 
 6.5. Taxes. The Company will, and will cause each Subsidiary to, timely file complete and correct United States federal and applicable foreign, state and local tax returns required by law and pay
when due all taxes, assessments and governmental charges and levies upon it or its income, profits or Property, except those which are being contested in good faith by appropriate proceedings and with respect to which adequate reserves have been set
aside in accordance with GAAP. 
 6.6. Insurance. The Company will, and will cause each Subsidiary to, maintain with
financially sound and reputable insurance companies insurance on all their Property in such amounts and covering such risks as is consistent with sound business practice, and the Company will furnish to any Lender upon reasonable request
certificates of insurance as to the insurance carried. The Company shall deliver to the Agent endorsements (x) to all “All Risk” physical damage insurance policies on all of the Company’s and the Domestic Subsidiary
Guarantors’ tangible personal property and assets and business interruption insurance policies naming the Agent as lender loss payee, and (y) to all general liability and other liability policies naming the Agent an additional insured. In
the event the Company or any of its Subsidiaries at any time or times after the Closing Date shall fail to obtain or maintain any of the policies or insurance required herein or to pay any premium in whole or in part relating thereto, then the
Agent, without waiving or releasing any obligations or resulting Default hereunder, may at any time or times thereafter (but shall be under no obligation to do so) obtain and maintain such policies of insurance and pay such premiums and take any
other action with respect thereto which the Agent deems advisable. All sums so disbursed by the Agent shall constitute part of the Obligations, payable as provided in this Agreement. The Company will furnish to the Agent and the Lenders prompt
written notice of any casualty or other insured damage to any material portion of the Collateral or the commencement of any action or proceeding for the taking of any material portion of the Collateral or interest therein under power of eminent
domain or by condemnation or similar proceeding. 

  
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 6.7. Compliance with Laws. The Company will, and will cause each Subsidiary to,
comply in all material respects with all laws, rules, regulations, orders, writs, judgments, injunctions, decrees or awards to which it may be subject including, without limitation, all Environmental Laws, the violation of which could reasonably be
expected to have a Material Adverse Effect and/or result in the creation of any Lien not permitted by Section 6.15. 
 6.8.
Maintenance of Properties. The Company will, and will cause each Subsidiary to, do all things necessary to maintain, preserve, protect and keep its Property in good repair, working order and condition, and make all necessary and proper
repairs, renewals and replacements so that its business carried on in connection therewith may be properly conducted at all times in all material respects. 
 6.9. Books and Records; Inspection. The Company will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries are made of all
dealings and transactions in relation to its business and activities. The Company will, and will cause each Subsidiary to, permit the Agent and the Lenders, by their respective representatives and agents, to inspect any of the Property, books and
financial records of the Company and each Subsidiary, to examine and make copies of the books of accounts and other financial records of the Company and each Subsidiary, and to discuss the affairs, finances and accounts of the Company and each
Subsidiary with, and to be advised as to the same by, their respective officers at such reasonable times and intervals as the Agent or any Lender may designate. 
 6.10. Dividends. The Company will not, nor will it permit any Subsidiary to, declare or pay any Dividends, except that: 

 

	 	(i)	(a) Any Wholly-Owned Subsidiary of the Company may pay Dividends to the Company or any Wholly-Owned Subsidiary of the Company and (b) any Subsidiary that is not a
Wholly-Owned Subsidiary may pay Dividends to its shareholders generally so long as the Company or its respective Subsidiary which owns the Equity Interest in the Subsidiary paying such Dividends receives at least its proportionate share thereof
(based upon its relative holdings of Equity Interests in the Subsidiary paying such Dividends and taking into account the relative preferences, if any, of the various classes of Equity Interests in such Subsidiary). 

 

	 	(ii)	So long as there shall exist no Default or Unmatured Default (both before and after giving effect to the payment thereof), the Company may repurchase outstanding shares
of its common stock (or options to purchase such common stock) following the death, disability, retirement or termination of employment of employees, officers or directors of the Company or any of its Subsidiaries; provided that (a) all
amounts used to effect such repurchases are obtained by the Company from a substantially concurrent issuance of its common stock (or options to purchase such common stock) to other employees, members of management, executive officers or directors of
the Company or any of its Subsidiaries or (b) to the extent the proceeds used to effect any repurchase are not obtained as described in preceding clause (a), the aggregate amount of Dividends paid by the Company pursuant to this
Section 6.10(ii) (exclusive of amounts paid as described pursuant to preceding clause (a)) shall not exceed $1,000,000 in any fiscal year of the Company; provided that, in the event that the maximum amount which is permitted to be
expended in respect of Dividends during any fiscal year pursuant to this clause (b) is not fully expended during such fiscal year, the maximum amount which may be expended during the immediately succeeding fiscal year pursuant to this clause
(b) shall be increased by such unutilized amount. 

  
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	 	(iii)	So long as there shall exist no Default or Unmatured Default (both before and after giving effect to the payment thereof), the Company may repurchase outstanding shares
of its common stock or equivalents thereof or rights to purchase any of the foregoing issued in connection with the Company’s directors compensation plan; provided that the aggregate amount of shares repurchased paid by the Company
pursuant to this Section 6.10(iii) (exclusive of amounts paid as described pursuant to Section 6.10(ii)) shall not exceed $750,000 in any fiscal year and shall not exceed a maximum of $1,750,000 for all such repurchases made on or after
the Closing Date. 

  

	 	(iv)	So long as there shall exist no Default or Unmatured Default (both before and after giving effect to the declaration and payment thereof), the Company may pay Dividends
with respect to its outstanding common stock, provided that (i) no Dividend shall be declared or paid during any fiscal year unless the Senior Leverage Ratio, determined as of the end of the immediately preceding fiscal year, was less
than 2.50 to 1.0, and (ii) the aggregate amount of the Dividends declared or paid pursuant to this Section 6.10(iv) during any fiscal year shall not exceed 25% of the positive Consolidated Net Income of the Company and its Subsidiaries for
the immediately preceding fiscal year. 

 6.11. Indebtedness. The Company will not, nor will it permit any
Subsidiary to, create, incur or suffer to exist any Indebtedness, except: 
  

	 	(i)	The Loans and the Reimbursement Obligations. 

  

	 	(ii)	[Reserved] 

  

	 	(iii)	Receivables Transaction Attributed Indebtedness and/or Indebtedness incurred pursuant to Qualified Receivables Transactions in an aggregate amount not to exceed
$75,000,000 at any time. 

  

	 	(iv)	[Reserved] 

  

	 	(v)	Indebtedness actually outstanding on the date hereof and listed on Schedule 6.11 (excluding any Indebtedness described in clauses (i) and (iii), the 2007 Senior
Notes and the Convertible Notes), but not any refinancings or renewals thereof. 

  

	 	(vi)	Rate Management Obligations under Rate Management Transactions entered into from time to time by the Company and its Subsidiaries and which the Company in good faith
believes will provide protection against its reasonably estimated interest rate, foreign currency or commodity exposure. 

  

	 	(vii)	(a) Capitalized Lease Obligations not to exceed $5,000,000 at any time outstanding and (b) Indebtedness pursuant to Sale and Leaseback Transactions, the
Attributable Debt of which shall not exceed $40,000,000 at any time outstanding. 

  
 75 

	 	(viii)	Intercompany Indebtedness of the Company and its Subsidiaries outstanding to the extent permitted by Section 6.14. 

 

	 	(ix)	Any indebtedness arising under a declaration of joint and several liability used for the purpose of section 2:403 of the Dutch Civil Code (Burgerlijk Wetboek)
(and any residual liability under such declaration arising pursuant to section 2:404(2) of the Dutch Civil Code (Burgerlijk Wetboek)). 

  

	 	(x)	In addition to any Indebtedness permitted by the preceding clause (viii), Indebtedness of any Wholly-Owned Subsidiary to the Company or another Wholly-Owned Subsidiary
constituting the purchase price in respect of intercompany transfers of goods and services made in the ordinary course of business to the extent not constituting Indebtedness for borrowed money. 

 

	 	(xi)	Indebtedness under performance bonds, letter of credit obligations to provide security for worker’s compensation claims and bank overdrafts, in each case incurred
in the ordinary course of business; provided that any obligations arising in connection with such bank overdraft Indebtedness is extinguished within five Business Days of its incurrence. 

 

	 	(xii)	Indebtedness incurred by Foreign Subsidiaries from time to time after the Closing Date, so long as the aggregate principal amount of all Indebtedness (including trade
letters of credit) incurred pursuant to this clause (xii) at any time outstanding shall not exceed $75,000,000; provided that the aggregate principal amount of all such Indebtedness incurred by Foreign Subsidiary Borrowers shall not
exceed $35,000,000; provided, further, that, until such time as the maximum Leverage Ratio specified in Section 6.19.1 for the four fiscal quarter period most recently ended is equal to or less than 3.50 to 1.00, (A) no Foreign
Subsidiary shall incur any Indebtedness pursuant to this clause (xii) if, after giving effect thereto, the aggregate principal amount of all such Indebtedness shall exceed $50,000,000 and (B) no Foreign Subsidiary Borrower shall incur any
Indebtedness pursuant to this clause (xii) if, after giving effect thereto, the aggregate principal amount of all such Indebtedness shall exceed $25,000,000. 

 

	 	(xiii)	Indebtedness of any Person that becomes a Foreign Subsidiary after the Closing Date pursuant to a Permitted Acquisition, so long as such Indebtedness exists at the time
of such Permitted Acquisition and is not incurred in contemplation of or in connection with such Permitted Acquisition, and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof.

  

	 	(xiv)	Additional unsecured Indebtedness of the Company and the Domestic Subsidiary Guarantors, including Senior Note Indebtedness and Subordinated Indebtedness;
provided, that (a) any senior unsecured Indebtedness of the Company or its Subsidiaries under any notes or convertible notes permitted hereunder and issued under an indenture, loan agreement, note purchase agreement or similar governing
instrument or document in a registered public offering or a Rule 144A or other private placement transaction shall only be permitted hereunder to the extent such Indebtedness constitutes, and complies with the terms set forth in the definition of,
Senior Note Indebtedness, and (b) any Indebtedness that is subordinated to the payment of the Obligations shall only be permitted hereunder to the extent such Indebtedness constitutes, and complies with the terms set forth in the definition of,
Subordinated Indebtedness. 

  
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 6.12. Merger. The Company will not, nor will it permit any Subsidiary to, merge or
consolidate with or into any other Person, except that a Subsidiary may merge (i) into the Company (with the Company being the surviving corporation) or a Wholly-Owned Subsidiary or (ii) in connection with a Permitted Acquisition,
provided, in each case, that (a) if a Subsidiary Guarantor merges with another Subsidiary, the surviving entity shall be a Subsidiary Guarantor, (b) if a Foreign Subsidiary Borrower merges with another Subsidiary, the surviving
entity shall be a Foreign Subsidiary Borrower and (c) a Domestic Subsidiary shall not merge with or into a Foreign Subsidiary. 
 6.13. Sale of Assets. The Company will not, nor will it permit any Subsidiary to, lease, sell or otherwise dispose of its Property to any other Person, except: 

 

	 	(i)	Sales of inventory in the ordinary course of business and consistent with past practices. 

 

	 	(ii)	Any transfer of an interest in accounts or notes receivable and related assets as part of a Qualified Receivables Transaction or Permitted Factoring Transaction.

  

	 	(iii)	Investments to the extent permitted by Section 6.14. 

  

	 	(iv)	Licenses, cross-licenses or sublicenses by the Company and its Subsidiaries of software, trademarks and other intellectual property in the ordinary course of business
and which do not materially interfere with the business of the Company or of the Company and the Subsidiaries, taken as a whole. 

  

	 	(v)	The Company and its Subsidiaries may sell or discount, in each case without recourse and in the ordinary course of business, overdue accounts receivable arising in the
ordinary course of business, but only in connection with the compromise or collection thereof consistent with ordinary business practice (and not as part of any bulk sale). 

 

	 	(vi)	(A) The Company or any Domestic Subsidiary of the Company that is a Wholly-Owned Subsidiary may sell, transfer or lease Property to the Company or any other Domestic
Subsidiary that is a Wholly-Owned Subsidiary, (B) any Foreign Subsidiary Borrower may sell, transfer or lease Property to the Company, a Domestic Subsidiary or another Foreign Subsidiary Borrower and (C) any Foreign Subsidiary (other than
a Foreign Subsidiary Borrower) may sell, transfer or lease Property to the Company or any other Subsidiary. 

  

	 	(viii)	Each of the Company and its Subsidiaries may, in the ordinary course of business, sell, lease or otherwise dispose of any assets which, in the reasonable judgment of
such Person, are obsolete, worn out or otherwise no longer useful in the conduct of such Person’s business. 

  

	 	(ix)	[Reserved] 

  

	 	(x)	The Company or any Domestic Subsidiary may sell Equity Interests in any Foreign Subsidiary to another Foreign Subsidiary; provided, that (A) if such Equity
Interests are subject to a pledge in favor of the Agent, the Company shall be in pro forma compliance with the requirements of Sections 6.21(c)(ii) and (iii) after giving effect to such sale and (B) such sale shall be made for cash at fair
market value as reasonably determined by the Company or such Domestic Subsidiary. 

  
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	 	(xi)	Each of the Company and its Subsidiaries may, unless a Default shall have occurred and be continuing, subject to Section 2.7(b)(iii), sell, lease or otherwise
dispose of any assets, provided that (A) the aggregate consideration received in respect of all Asset Sales pursuant to this clause (xi) during any four fiscal quarter period shall not exceed 10% of the Consolidated Assets of the
Company and its Subsidiaries (measured as of the end of the fiscal quarter most recently completed prior to such disposition) and (B) the aggregate consideration received in respect of all Asset Sales pursuant to this clause (xi) after the
Closing Date shall not exceed 15% of the Consolidated Assets of the Company and its Subsidiaries (measured as of the end of the fiscal quarter most recently completed prior to the first such disposition completed after the Closing Date).

  

	 	(xii)	The Company and its Subsidiaries may enter into one or more Sale and Leaseback Transactions, provided that the Attributable Debt arising therefrom shall not
exceed $40,000,000 at any time outstanding. 

 6.14. Investments and Acquisitions. The Company will not, nor
will it permit any Subsidiary to, make or suffer to exist any Investments (including without limitation, loans and advances to, and other Investments in, Subsidiaries), or commitments therefor, or to create any Subsidiary or to become or remain a
partner in any partnership or joint venture, or to make any Acquisition of any Person, except: 
  

	 	(i)	Cash Equivalent Investments. 

  

	 	(ii)	Existing Investments in Subsidiaries and other Investments in existence on the Closing Date and described in Schedule 6.14. 

 

	 	(iii)	Investments comprised of capital contributions (whether in the form of cash, a note, or other assets) to a Subsidiary or other special-purpose entity created solely to
engage in a Qualified Receivables Transaction or otherwise resulting from transfers of assets permitted by Section 6.13(ii) to such a special-purpose entity. 

 

	 	(iv)	Permitted Acquisitions. 

  

	 	(v)	Investments by the Company or any Subsidiary in the Company or any Domestic Subsidiary. 

 

	 	(vi)	Investments by the Company or any Subsidiary in any Foreign Subsidiary of the Company, provided that the aggregate amount (determined without regard to any
write-downs or write-offs thereof) of (x) all such Investments of the Company and the Domestic Subsidiaries in Foreign Subsidiaries made after the Closing Date at any time outstanding and (y) all such Investments of the Foreign Subsidiary
Borrowers in other Foreign Subsidiaries made after the Closing Date at any time outstanding shall not exceed $100,000,000; provided, further, that, subject to compliance with each other covenant set forth in this Article VI in
connection with any such transaction, (a) the value of any assets (other than cash and cash equivalents) distributed to the Company or any Domestic Subsidiary by a Foreign Subsidiary (directly or indirectly) that are contributed to or otherwise
invested in a Foreign Subsidiary substantially concurrently with such distribution (but not more than three Business Days thereafter) and (b) the value of Equity Interests in Foreign Subsidiaries contributed by the Company or any Domestic
Subsidiary to a Foreign Subsidiary shall not reduce the aggregate amount available for Investments in Foreign Subsidiaries under this paragraph (vi). 

  
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	 	(vii)	[Reserved] 

  

	 	(viii)	[Reserved] 

  

	 	(ix)	The purchase by a Foreign Subsidiary of the Equity Interests of another Foreign Subsidiary as described in Section 6.13(x). 

 

	 	(x)	Other Investments not otherwise permitted by clauses (i) through (ix) above, provided that the aggregate amount of all such Investments made after the
Closing Date at any time outstanding (determined without regard to any write-downs or write-offs thereof) shall not exceed $10,000,000. 

 6.15. Liens. The Company will not, nor will it permit any Subsidiary to, create, incur, or suffer to exist any Lien in, of or on the Property of the Company or any of its Subsidiaries, except:

  

	 	(i)	Liens (other than any Lien imposed by ERISA or any Environmental Law) for taxes, assessments or governmental charges or levies on its Property if the same shall not at
the time be delinquent or thereafter can be paid without penalty, or are being contested in good faith and by appropriate proceedings and for which adequate reserves in accordance with GAAP shall have been set aside on its books.

  

	 	(ii)	Liens imposed by law, such as carriers’, warehousemen’s and mechanics’ liens and other similar liens arising in the ordinary course of business
(a) which do not in the aggregate materially detract from the value of the property or assets of the Company and the Subsidiaries, taken as a whole, and do not materially impair the use thereof in the operation of the business of the Company
and the Subsidiaries, taken as a whole, or (b) which are being contested in good faith by appropriate proceedings and for which adequate reserves shall have been set aside on its books. 

 

	 	(iii)	Liens (other than any Lien imposed by ERISA) (a) arising out of pledges or deposits under worker’s compensation laws, unemployment insurance, old age
pensions, or other social security or retirement benefits, or similar legislation, (b) to secure the performance of tenders, statutory obligations (other than excise taxes), surety, stay, customs and appeal bonds, statutory bonds, bids, leases,
government contracts, trade contracts, performance and return of money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money) or (c) arising by virtue of deposits made in the ordinary course of business
to secure liability for premiums to insurance carriers; provided that the aggregate amount of deposits at any time pursuant to clause (b) and clause (c) shall not exceed $1,000,000 in the aggregate. 

 

	 	(iv)	Utility easements, building restrictions and such other encumbrances or charges against real property as are of a nature generally existing with respect to properties
of a similar character and which do not in any material way affect the marketability of the same or interfere with the use thereof in the business of the Company or its Subsidiaries. 

 

	 	(v)	Liens existing on the Closing Date and described in Schedule 6.15, provided that (i) the aggregate principal amount of the Indebtedness, if any, secured by
such Liens does not increase and (ii) such Liens do not encumber any additional assets or properties of the Company or any of its Subsidiaries. 

  
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	 	(vi)	Liens in favor of the Agent, for the benefit of the Lenders, in the Facility LC Collateral Account or granted pursuant to any Collateral Document.

  

	 	(vii)	Liens incurred in connection with any transfer of an interest in accounts or notes receivable or related assets as part of a Qualified Receivables Transaction or
Permitted Factoring Transaction. 

  

	 	(viii)	Any Lien of a lessor under a Capitalized Lease on assets subject to such Capitalized Lease securing Capitalized Lease Obligations permitted by Section 6.11(vii).

  

	 	(ix)	Liens arising out of judgments or awards not giving rise to a Default in respect of which the Company or any of its Subsidiaries shall in good faith be prosecuting an
appeal or proceedings for review and in respect of which there shall be secured a subsisting stay of execution pending such appeal or proceedings. 

  

	 	(x)	Any interest or title of a lessor, sublessor, licensee or licensor under any lease (other than a Capitalized Lease) or license agreement permitted by this Agreement,
including any Lien filed to prevent the impairment of any such interest. 

  

	 	(xi)	Liens in favor of customs and revenue authorities arising as a matter of law to secure the payment of customs duties in connection with the importation of goods.

  

	 	(xii)	In the case of any Dutch Subsidiary, Liens created or to be created pursuant to the general conditions of a bank operating in the Netherlands based on the general
conditions drawn up by the Netherlands Bankers’ Association (Nederlandse Vereniging van Banken) and the Consumers’ Union (Consumenten bond). 

 

	 	(xiii)	Liens on assets of Foreign Subsidiaries (other than Foreign Subsidiary Borrowers); provided that (a) such Liens do not extend to, or encumber, assets which
constitute Equity Interests in any of the Company’s Subsidiaries and (b) such Liens extending to the assets of any Foreign Subsidiary secure only Indebtedness incurred by such Foreign Subsidiary pursuant to Section 6.11(xii).

  

	 	(xiv)	Liens upon assets of the Company or any of its Subsidiaries subject to Sale and Leaseback Transactions to the extent permitted by Section 6.13(xii);
provided that (a) in each case, such Liens only serve to secure the payment of Attributable Debt arising under such Sale and Leaseback Transaction and do not encumber any other asset (other than proceeds thereof) of the Company or any
Subsidiary of the Company and (b) the aggregate outstanding principal amount of all Attributable Debt secured by Liens permitted by this clause (xiv) shall not at any time exceed $40,000,000. 

 

	 	(xv)	Deposit arrangements and pledges of cash or cash equivalents in an aggregate amount not to exceed $5,000,000 at any time to secure Banking Services Obligations.

  

	 	(xvi)	Liens not otherwise permitted by the foregoing clauses (i) through (xv) to the extent attaching to properties and assets with an aggregate fair value not in
excess of, and securing liabilities not in excess of, $5,000,000 in the aggregate at any time outstanding. 

  
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 6.16. Affiliates. The Company will not, and will not permit any Subsidiary to, enter
into any transaction (including, without limitation, the purchase or sale of any Property or service) with, or make any payment or transfer to, any Affiliate other than in the ordinary course of business and pursuant to the reasonable requirements
of the Company’s or such Subsidiary’s business and upon fair and reasonable terms no less favorable to the Company or such Subsidiary than the Company or such Subsidiary would obtain in a comparable arms-length transaction, except
(i) transactions between the Company or any Subsidiary, on the one hand, and any Subsidiary or other special-purpose entity created to engage solely in a Qualified Receivables Transaction and (ii) any other transaction between the Company
and any Subsidiary or between a Subsidiary and another Subsidiary permitted by Section 6.10, 6.11, 6.12, 6.13 or 6.14. 

6.17. Subordinated Indebtedness and Senior Note Indebtedness. The Company will not, and will not permit any Subsidiary to, make
any amendment or modification to any indenture, note or other agreement evidencing or governing any Subordinated Indebtedness or Senior Note Indebtedness that is adverse to the interests of the Lenders, or to directly or indirectly voluntarily
prepay, defease or in substance defease, purchase, redeem, retire or otherwise acquire, any Subordinated Indebtedness other than (i) Permitted Convertible Note Redemptions, (ii) exchanges of Equity Interests in the Company for Subordinated
Indebtedness, (iii) refinancings of Subordinated Indebtedness using proceeds of Permitted Refinancing Subordinated Indebtedness and (iv) after the issuance of any Subordinated Indebtedness, the exchange of notes evidencing such
Indebtedness for notes that have terms substantially identical in all material respects to such original notes, except that such new notes do not contain terms with respect to transfer restrictions; provided, that no such prepayment,
defeasance purchase, redemption, retirement or other acquisition of Subordinated Indebtedness shall be in made in violation of the subordination provisions applicable thereto. The Company shall give the Agent five Business Days’ prior written
notice of the terms of any amendment or modification to the indenture, note or other agreement evidencing or governing any Subordinated Indebtedness or Senior Note Indebtedness. Notwithstanding anything herein to the contrary, the Company shall be
permitted to refinance the Convertible Notes using proceeds of Indebtedness permitted pursuant to clause (xiv) of Section 6.11 on, or within ninety (90) days prior to, the second Optional Purchase Date under (and as defined in) the
Convertible Note Indenture. 
 6.18. Contingent Obligations. The Company will not, nor will it permit any Subsidiary to,
make or suffer to exist any Contingent Obligation (including, without limitation, any Contingent Obligation with respect to the obligations of a Subsidiary), except (i) by endorsement of instruments for deposit or collection in the ordinary
course of business, (ii) the Reimbursement Obligations, (iii) in respect of customary indemnities (and guarantees thereof) provided in connection with any Asset Sale permitted under Section 6.13, (iv) the Guarantees and
guarantees of Indebtedness to the extent that and so long as such Indebtedness is permitted by Section 6.11, provided that (a) only Subsidiary Guarantors may guarantee Indebtedness of the Company other than the Obligations and
(b) guarantees of Subordinated Indebtedness of the Company shall be subordinated to the Domestic Subsidiary Guaranty on the same basis, (v) Contingent Obligations existing on the Closing Date and described in Schedule 6.18 (excluding
Contingent Obligations with respect to Indebtedness described in clause (iv) above), (vi) guarantees by the Company of obligations of Foreign Subsidiaries under customer contracts in the ordinary course of business, (vii) guarantees
by the Company of obligations of Foreign Subsidiaries under Operating Leases permitted hereunder and (viii) other Contingent Obligations not otherwise permitted by clauses (i) through (vii) above not exceeding $20,000,000 in the
aggregate outstanding at any one time. 

  
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 6.19. Financial Covenants. 

6.19.1. Leverage Ratio. 
 (a) Prior to the Collateral Release Date. 
  

	 	(i)	At all times from the Closing Date until (but not including) the first fiscal quarter ending on or after the Collateral Release Date, the Company will not permit the
Leverage Ratio, determined as of the end of each of its fiscal quarters, to be greater than 3.75 to 1.0. 

  

	 	(ii)	Notwithstanding the immediately preceding clause (i), commencing with the first fiscal quarter ending after the Closing Date and prior to the Collateral Release Date,
the Leverage Ratio may be up to 4.25 to 1.0 for any fiscal quarter during which the Company or any of its Subsidiaries has entered into a Specified Acquisition (a “Trigger Quarter”) and for the next succeeding fiscal quarter (or, if
such Specified Acquisition occurred after the forty-fifth (45th) day of such Trigger Quarter, the Leverage Ratio may be up to 4.25 to 1.0 for such Trigger Quarter and the next two succeeding fiscal quarters); provided, that the Leverage
Ratio shall return to 3.75 to 1.0 (or lower) no later than the second fiscal quarter after such Trigger Quarter (or, if such Specified Acquisition occurred after the forty-fifth (45th) day of such Trigger Quarter, no later than the third fiscal
quarter after such Trigger Quarter); provided, further, that following the occurrence of a Trigger Quarter, no subsequent Trigger Quarter shall be permitted to occur for purposes of this Section 6.19.1(a) unless and until the Leverage
Ratio is less than or equal to 3.75 to 1.00 as of the end of at least one fiscal quarter following the applicable Specified Acquisition. 

 (b) From and after the Collateral Release Date. 
  

	 	(i)	Commencing with the first fiscal quarter ending on or after the Collateral Release Date, the Company will not permit the Leverage Ratio, determined as of the end of
each of its fiscal quarters, to be greater than 3.50 to 1.0. 

  

	 	(ii)	Notwithstanding the immediately preceding clause (i), from and after the Collateral Release Date the Leverage Ratio may be up to 4.0 to 1.0 for any Trigger Quarter and
for the next succeeding fiscal quarter (or, if the Specified Acquisition giving rise to such Trigger Quarter occurred after the forty-fifth (45th) day of such Trigger Quarter, the Leverage Ratio may be up to 4.0 to 1.0 for such Trigger Quarter
and the next two succeeding fiscal quarters); provided, that the Leverage Ratio shall return to 3.50 to 1.0 (or lower) no later than the second fiscal quarter after such Trigger Quarter (or, if such Specified Acquisition occurred after the
forty-fifth (45th) day of such Trigger Quarter, no later than the third fiscal quarter after such Trigger Quarter); provided, further, that following the occurrence of a Trigger Quarter, no subsequent Trigger Quarter shall be permitted
to occur for purposes of this Section 6.19.1(b) unless and until the Leverage Ratio is less than or equal to 3.50 to 1.00 as of the end of at least one fiscal quarter following the applicable Specified Acquisition. 

6.19.2. Fixed Charge Coverage Ratio. The Company will not permit the Fixed Charge Coverage Ratio, determined as of
the end of each of its fiscal quarters, to be less than 1.50 to 1.0. 
 6.20. Fiscal Year. The Company will not change its
fiscal year-end to a date other than August 31. 
 6.21. Subsidiary Guarantors; Pledges; Collateral Documentation;
Additional Collateral; Further Assurances. 
 (a) Material Domestic Subsidiaries. If, at any time
after the Closing Date, any Domestic Subsidiary (other than a then existing Domestic Subsidiary Guarantor) shall constitute a Material Domestic Subsidiary, the Company shall promptly notify the Agent thereof, which notice shall specify the date as
of which such Domestic Subsidiary became a Material Domestic Subsidiary. On or prior to the date 30 days after the date specified in such notice (or such longer period as may be agreed by the Agent in its sole discretion) or, if earlier, the date on
which such Material Domestic Subsidiary becomes party to a guaranty of the Senior Note Indebtedness or any other obligation of the Company, the Company shall cause such Material Domestic Subsidiary to execute and deliver to the Agent a supplement to
the Domestic Subsidiary Guaranty, a supplement to the Security Agreement and the Collateral Documents required to be delivered by such Person (and each holder of the Equity Interests of such Person) pursuant to Section 6.21(e) and (h), together
with such supporting documentation, including authorizing resolutions and/or opinions of counsel, as the Agent may reasonably request. Notwithstanding the foregoing, (i) if the Company acquires a Material Domestic Subsidiary pursuant to a
Permitted Acquisition, the Company may, as an alternative to complying with the preceding sentence, within 30 days after the consummation of such Permitted Acquisition (or such longer period as may be agreed by the Agent in its sole discretion),
cause such Material Domestic Subsidiary to merge into, or to transfer all or substantially all of its assets to, the Company or a Domestic Subsidiary Guarantor, and (ii) if any Domestic Subsidiary is a Material Domestic Subsidiary solely
because it holds Voting Equity Interests in a Material Foreign Subsidiary, but is not required to pledge such Voting Equity Interests pursuant to the last sentence of Section 6.21(b), then such Domestic Subsidiary shall not be required to
become a Domestic Subsidiary Guarantor pursuant to this Section 6.21(a). 

  
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 (b) Material Foreign Subsidiaries. If, at any time after the Closing
Date, any first-tier Foreign Subsidiary (other than a Foreign Subsidiary listed on Schedule 1.3) shall constitute a Material Foreign Subsidiary, the Company shall promptly notify the Agent thereof, which notice shall specify the date as of which
such Foreign Subsidiary became a Material Foreign Subsidiary. Within 30 days after the date specified in such notice (or such longer period as may be agreed by the Agent in its sole discretion), the Company shall, and/or shall cause each Domestic
Subsidiary to, if and to the extent that each of them holds any Equity Interest in such Material Foreign Subsidiary, execute and deliver to the Agent a new Foreign Law Pledge Agreement (as determined by the Agent in its reasonable discretion),
together with such supporting documentation (including, without limitation, additional Collateral Documents, authorizing resolutions and/or opinions of counsel) as the Agent may reasonably request, in order to create a perfected, first priority
security interest in the Equity Interests in such Material Foreign Subsidiary, provided that such pledges, individually or collectively, with respect to any Foreign Subsidiary shall not exceed the Applicable Pledge Percentage of the Voting
Equity Interests in such Foreign Subsidiary. The Company or any particular Domestic Subsidiary shall not be required to execute and deliver a Foreign Law Pledge Agreement pursuant to this Section 6.21(b) if such entity directly holds 35% or
less of the Voting Equity Interests in such Foreign Subsidiary and, as a result of the limitation set forth in the preceding sentence, the Company can comply with this Section 6.21(b) without the pledge of such Voting Equity Interests.

 (c) Minimum Requirements. 

 

	 	(i)	85% of Company and Domestic Subsidiaries. If, at any time after the Closing Date, (x) the aggregate assets of the Company and the Domestic Subsidiary
Guarantors (other than Equity Interests in Subsidiaries) shall fail to represent 85% or more of the aggregate assets of the Company and its Domestic Subsidiaries (other than Equity Interests in Subsidiaries) as of such time or (y) such entities
on an aggregate basis shall fail to be responsible for 85% or more of the aggregate operating income of the Company and its Domestic Subsidiaries for the four fiscal quarter period then ended, the Company shall promptly notify the Agent thereof,
which notice shall specify the date as of which such failure arose. Within 30 days after the date specified in such notice (or such longer period as may be agreed by the Agent in its sole discretion), the Company shall, and shall cause its Domestic
Subsidiaries (whether or not they are Material Domestic Subsidiaries) to, comply with Section 6.21(a) (but without duplication of the 30-day grace period provided in this clause (c)(i)) to the extent necessary to cure the conditions giving rise
to such failure. 

  
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	 	(ii)	50% of Foreign Subsidiaries. If, at any time after the Closing Date, (x) the aggregate assets of the Company’s Material Foreign Subsidiaries and the
other Foreign Subsidiaries the Applicable Pledge Percentage of the Voting Equity Interests of which have been pledged under a Foreign Law Pledge Agreement (in the case of such Foreign Subsidiaries, on a consolidated basis with their respective
Subsidiaries) shall fail to represent 50% or more of the aggregate assets of the Company’s Foreign Subsidiaries (in the case of such Foreign Subsidiaries, on a consolidated basis with their respective Subsidiaries) or (y) such entities on
an aggregate basis (on a consolidated basis with their respective Subsidiaries) shall fail to be responsible for 50% or more of the aggregate operating income of the Company’s Foreign Subsidiaries for the four fiscal quarter period then ended,
the Company shall promptly notify the Agent thereof, which notice shall specify the date as of which such failure arose. Within 30 days after the date specified in such notice (or such longer period as may be agreed by the Agent in its sole
discretion), the Company shall, and shall cause its Domestic Subsidiaries (whether or not they are Material Domestic Subsidiaries and whether or not the pledged Subsidiaries are Material Foreign Subsidiaries) to, comply with Section 6.21(b)
(but without duplication of the 30-day grace period provided in this clause (c)(ii)) to the extent necessary to cure the conditions giving rise to such failure. 

 

	 	(iii)	75% of the Company and its Consolidated Subsidiaries. If, at any time after the Closing Date, (x) the aggregate assets of the Company, the Domestic
Subsidiary Guarantors (in the case of the Company and such Guarantors, excluding Equity Interests in Subsidiaries) and all Material Foreign Subsidiaries and other Foreign Subsidiaries the Applicable Pledge Percentage of the Voting Equity Interests
of which have been pledged under a Foreign Law Pledge Agreement (in the case of such Foreign Subsidiaries, on a consolidated basis with their respective Subsidiaries) shall fail to represent 75% or more of the Consolidated Assets of the Company and
its Subsidiaries or (y) such entities on an aggregate basis (in the case of such Foreign Subsidiaries, on a consolidated basis with their respective Subsidiaries) shall fail to be responsible for 75% or more of the Consolidated Operating Income
of the Company and its Subsidiaries for the four fiscal quarter period then ended, the Company shall promptly notify the Agent thereof, which notice shall specify the date as of which such failure arose. Within 30 days after the date specified in
such notice (or such longer period as may be agreed by the Agent in its sole discretion), the Company shall, and shall cause its Domestic Subsidiaries (whether or not they are Material Domestic Subsidiaries and whether or not the pledged
Subsidiaries are Material Foreign Subsidiaries) to, comply with Section 6.21(a) and/or (b) (but without duplication of the 30-day grace period provided in this clause (c)(iii)) to the extent necessary to cure the conditions giving rise to
such failure. 

  

	 	(iv)	Guarantees of Other Obligations. If, at any time after the Closing Date, any Subsidiary of the Company that is not party to the Domestic Subsidiary Guaranty
shall become party to a guaranty of the Senior Note Indebtedness or any other obligation of the Company, the Company shall immediately notify the Agent thereof and cause such Subsidiary to comply with Section 6.21(a) (but without giving effect
to the 30-day grace period provided therein). 

  
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 (d) Foreign Subsidiary Borrowers. Notwithstanding the foregoing
requirements of this Section 6.21, all of the Equity Interests of a Foreign Subsidiary Borrower and the Foreign Subsidiaries of the Company that directly or indirectly own the Equity Interests of such Foreign Subsidiary Borrower shall be
pledged to the Agent to secure the Obligations owing by such Foreign Subsidiary Borrower and, to the extent permitted by applicable law, each other Foreign Subsidiary Borrower. If, at any time after the Closing Date, the Company or any Subsidiary
shall possess any Equity Interests of any such Subsidiary, the Company shall immediately notify the Agent thereof and the Company shall, and/or shall cause each Subsidiary to, if and to the extent that each of them holds any Equity Interest in any
such Subsidiary, immediately execute and deliver to the Agent a new Foreign Law Pledge Agreement (as determined by the Agent in its discretion), together with such supporting documentation (including, without limitation, additional Collateral
Documents, authorizing resolutions and/or opinions of counsel) as the Agent may reasonably request, in order to create a perfected, first priority security interest in all of the Equity Interests in such Subsidiary securing the Obligations owing by
the applicable Foreign Subsidiary Borrower and, to the extent permitted by applicable law, each other Foreign Subsidiary Borrower. 
 (e) Collateral Documentation. The Company will cause, and will cause each Domestic Subsidiary Guarantor to cause, all owned Property (other than real property) (as more fully described in the
Security Agreement) to be subject at all times to first priority, perfected security interests in favor of the Agent, for the benefit of the Holders of Secured Obligations, to secure the Secured Obligations in accordance with the terms and
conditions of the Collateral Documents, subject in any case to Liens permitted by Section 6.15 hereof. Without limiting the generality of the foregoing, the Company will cause the Applicable Pledge Percentage of the issued and outstanding
Equity Interests of each Subsidiary directly owned by the Company or any Domestic Subsidiary Guarantor to be subject at all times to a first priority, perfected Lien in favor of the Agent, for the benefit of the Holders of Secured Obligations, to
secure the Secured Obligations in accordance with the terms and conditions of the Security Agreement. 
 (f)
Releases. 
  

	 	(i)	The Lenders hereby irrevocably authorize the Agent to, and the Agent shall, release any Liens granted to the Agent by the Loan Parties on any Collateral (i) upon
the termination of the all Revolving Loan Commitments, the expiration or termination of all Facility LCs and payment and satisfaction in full in cash of all Secured Obligations (other than contingent indemnity obligations), (ii) upon the
Company’s request following the date upon which (a) the Company’s S&P Rating is BBB- (with stable outlook) or better and (b) the Company’s Moody’s Rating is Baa3 (with stable outlook) or better
(provided, that if either S&P or Moody’s is unwilling to provide a rating following the use of reasonable efforts by the Company to obtain such rating, the parties will use the comparable rating of a substitute rating agency to be
agreed by the Company and the Agent); provided, that following any such release of Liens, the Leverage Ratio shall be adjusted as described in Section 6.19.1(b), (iii) constituting property being sold, transferred or otherwise
disposed of (including, pursuant to a Qualified Receivables Transaction or Permitted Factoring Transaction) if the Company certifies to the Agent that such sale, transfer or disposition is made in compliance with the terms of this Agreement (and the
Agent may rely conclusively on any such certificate, without further inquiry) provided that after such release the Company remains in compliance with Section 6.21(c) or (iv) as required to effect any sale or other disposition of
such Collateral in connection with any exercise of remedies of the Agent and the Lenders pursuant to this Agreement. Any such release shall not in any manner discharge, affect, or impair the Obligations or any Liens (other than those expressly being
released) upon (or obligations of the Loan Parties in respect of) all interests retained by the Loan Parties, including (without limitation) the proceeds of any sale, all of which shall continue to constitute part of the Collateral.

  
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	 	(ii)	The Lenders hereby irrevocably authorize the Agent to, and the Agent shall, in the event of a sale, transfer or other disposition of all of the Equity Interests of any
Domestic Subsidiary Guarantor if the Company certifies to the Agent that such sale, transfer or disposition is made in compliance with the terms of this Agreement (and the Agent may rely conclusively on any such certificate, without further
inquiry), (x) release such Domestic Subsidiary Guarantor from its obligations under the Domestic Subsidiary Guaranty and each other Loan Document to which it is a party and (y) release any Liens granted to the Agent by such Domestic
Subsidiary Guarantor on any Collateral (or by its parent on the Equity Interests of such Domestic Subsidiary Guarantor), provided that (i) such Domestic Subsidiary Guarantor is concurrently released from any obligations it may have with
respect to Subordinated Indebtedness and Senior Note Indebtedness and (ii) after such release the Company remains in compliance with Section 6.21(c). 

(g) Foreign Law Pledge Agreements. Notwithstanding the foregoing provisions of this Section 6.21, the Company
shall (or shall cause the applicable Subsidiary to) on or prior to the date thirty (30) days following the Closing Date (or such later date as the Agent shall agree in its sole discretion), execute and deliver to the Agent either an amendment
and/or reaffirmation of each Foreign Law Pledge Agreement executed and delivered under the Existing Credit Agreement (other than of the Cancelled Pledge), or a substitute Foreign Law Pledge Agreement therefor, in any such case, as deemed appropriate
under the applicable local law of such Foreign Law Pledge Agreement, together with such supporting documentation (including, without limitation, additional Collateral Documents, authorizing resolutions and/or opinions of counsel) as the Agent may
reasonably request, in order to provide the Agent with a perfected, first priority security interest in the Equity Interests of the Foreign Subsidiary subject to such Foreign Law Pledge Agreement. 

(h) Additional Collateral; Further Assurances. 

 

	 	(i)	Without limiting the foregoing, the Company will, and will cause each Subsidiary to, execute and deliver, or cause to be executed and delivered, to the Agent such
documents, agreements and instruments, and will take or cause to be taken such further actions (including the filing and recording of financing statements and other documents, as applicable), which may be required by law or which the Agent may, from
time to time, reasonably request to carry out the terms and conditions of this Agreement and the other Loan Documents and to ensure perfection and priority of the Liens created or intended to be created by the Collateral Documents, all at the
expense of the Company. 

  

	 	(ii)	If any assets of a type constituting Collateral under the Security Agreement are acquired by the Company or a Domestic Subsidiary Guarantor after the Closing Date
(other than assets constituting Collateral under the Security Agreement that become subject to the Lien under the Security Agreement upon acquisition thereof), the Company will notify the Agent thereof, and, if requested by the Agent, the Company
will cause such assets to be subjected to a Lien securing the Secured Obligations and will take, and cause the other Loan Parties to take, such actions as shall be necessary or reasonably requested by the Agent to grant and perfect such Liens,
including actions described in Section 6.21(h)(i), all at the expense of the Company. 

 6.22. Centre of
Main Interests and Establishment. No Foreign Subsidiary Borrower shall without the prior written consent of the Agent, take any action that shall cause its registered office or centre of main interests (as that term is used in Article 3(1) of
the Regulation) to be situated outside of its jurisdiction of incorporation, or cause it to have an Establishment situated outside of its jurisdiction of incorporation. 

  
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 ARTICLE VII 
 DEFAULTS 
 The occurrence of any one or more of the following events
shall constitute a Default: 
 7.1. Any representation or warranty made or deemed made by or on behalf of the Company or any of
its Subsidiaries to the Lenders or the Agent under or in connection with this Agreement, any Credit Extension, or any certificate or information delivered in connection with this Agreement or any other Loan Document shall be materially false on the
date as of which made. 
 7.2. Nonpayment of principal of any Loan when due, nonpayment of any Reimbursement Obligation within
one Business Day after the same becomes due, or nonpayment of interest upon any Loan or of any commitment fee, LC Fee or other obligations under any of the Loan Documents within three Business Days after the same becomes due. 

7.3. The breach by the Company of any of the terms or provisions of Section 6.2, 6.3 or 6.10 through 6.22. 

7.4. The breach by any Loan Party (i) of Section 6.1 which is not remedied within ten days after the occurrence of such breach
or (ii) (other than a breach which constitutes a Default under another Section of this Article VII) of any of the other terms or provisions of this Agreement or any other Loan Document which is not remedied within thirty days after the
occurrence of such breach. 
 7.5. Failure of the Company or any of its Subsidiaries to pay when due any Material Indebtedness;
or the default by the Company or any of its Subsidiaries in the performance (beyond the applicable grace period with respect thereto, if any) of any term, provision or condition contained in any Material Indebtedness Agreement, or any other event
shall occur or condition exist, the effect of which default, event or condition is to cause, or to permit the holder(s) of such Material Indebtedness or the lender(s) under any Material Indebtedness Agreement to cause, such Material Indebtedness to
become due prior to its stated maturity or any commitment to lend under any Material Indebtedness Agreement to be terminated prior to its stated expiration date (or, in the case of any Receivables Facility Attributable Indebtedness, cause such
Indebtedness to amortize or liquidate or terminate the reinvestment of collections or proceeds of receivables); or any Material Indebtedness of the Company or any of its Subsidiaries shall be declared to be due and payable or required to be prepaid
or repurchased (other than by a regularly scheduled payment) prior to the stated maturity thereof, provided, that the occurrence of any of the foregoing with respect to Receivables Facility Attributed Indebtedness shall not constitute a Default
hereunder so long as the aggregate outstanding amount thereof does not exceed the Available Aggregate Revolving Loan Commitment; or the occurrence of an early termination under any Rate Management Transaction resulting from (i) any event of
default under such Rate Management Transaction as to which the Company or any Subsidiary is the defaulting party or (ii) any termination event as to which the Company or any Subsidiary is an affected party and, in either event, the termination
value or other similar obligation owed by the Company or such Subsidiary as a result thereof is in excess of $10,000,000 and remains unpaid; or the Company or any of its Subsidiaries shall not pay, or admit in writing its inability to pay, its debts
generally as they become due. 

  
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 7.6. Any Borrower or any Material Subsidiary shall (i) have an order for relief
entered with respect to it under any Federal, state or foreign bankruptcy, insolvency, administrative receivership or similar law now or hereafter in effect, (ii) make an assignment for the benefit of creditors, (iii) apply for, seek,
consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (iv) institute any proceeding seeking an order for relief under any
Federal, state or foreign bankruptcy, insolvency, administrative receivership or similar law now or hereafter in effect or seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization,
arrangement, adjustment or composition of it or its debts under any Federal, state or foreign bankruptcy, insolvency, administrative receivership or similar law now or hereafter in effect or fail to file an answer or other pleading denying the
material allegations of any such proceeding filed against it, (v) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this Section 7.6 or (vi) fail to contest in good faith any
appointment or proceeding described in Section 7.7. 
 7.7. Without the application, approval or consent of any Borrower or
any Material Subsidiary, a receiver, trustee, examiner, liquidator or similar official shall be appointed for a Borrower or any Material Subsidiary or any Substantial Portion of its Property, or a proceeding described in Section 7.6(iv) shall
be instituted against any Borrower or any Material Subsidiary and such appointment continues undischarged or such proceeding continues undismissed or unstayed for a period of 60 consecutive days. 

7.8. A UK Insolvency Event shall occur in respect of any UK Borrower or any Material Subsidiary that is a UK Subsidiary, or any other UK
Relevant Entity. 
 7.9. Any court, government or governmental agency shall condemn, seize or otherwise appropriate, or take
custody or control of, all or any portion of the Property of the Company and its Subsidiaries which, when taken together with all other Property of the Company and its Subsidiaries so condemned, seized, appropriated, or taken custody or control of,
during the twelve-month period ending with the month in which any such action occurs, constitutes a Substantial Portion. 

7.10. The Company or any of its Subsidiaries shall fail within 30 days to pay, bond or otherwise discharge one or more (i) judgments
or orders for the payment of money in excess of $10,000,000 (or the equivalent thereof in currencies other than Dollars) in the aggregate, but excluding any portion thereof which is covered by independent third-party insurance so long as the insurer
is reasonably likely to be able to pay, has not disputed coverage and has accepted a tender of defense and indemnification or (ii) nonmonetary judgments or orders which, individually or in the aggregate, could reasonably be expected to have a
Material Adverse Effect, which judgment(s), in any such case, is/are not stayed on appeal or otherwise being appropriately contested in good faith. 
 7.11. The Unfunded Liabilities of all Single Employer Plans shall exceed in the aggregate $25,000,000, or any Reportable Event shall have occurred with respect to any Plan that, together with all other
Reportable Events that have occurred and are continuing, could reasonably be expected to result in liability to the Company and its Subsidiaries in an aggregate amount in excess of $20,000,000, or any Single Employer Plan shall have any Unfunded
Liabilities for which a minimum funding waiver request has been filed under Section 412 of the Code or Section 302 of ERISA. 
 7.12. The Company or any other member of the Controlled Group shall have been notified by the sponsor of a Multiemployer Plan that it has incurred withdrawal liability to such Multiemployer Plan in an
amount which, when aggregated with all other amounts required to be paid to Multiemployer Plans by the Company or any other member of the Controlled Group as withdrawal liability (determined as of the date of such notification), exceeds $20,000,000
or requires payments exceeding $5,000,000 per annum. 

  
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 7.13. The Company or any of its Subsidiaries shall have been notified that any of them has,
in relation to a Foreign Pension Plan, incurred a debt or other liability under section 75 or 75A of the United Kingdom Pensions Act 1995, or has been issued with a contribution notice or financial support direction (as those terms are defined in
the Pensions Act 2004), or otherwise is liable to pay an amount which, when aggregated with all other amounts required to be paid to Foreign Pension Plans by the Company or any other member of the Controlled Group, exceeds $20,000,000 or requires
payments exceeding $5,000,000 per annum, or the equivalent sum in the applicable currency. 
 7.14. Any Loan Document shall fail
to remain in full force or effect or any action shall be taken to discontinue or to assert the invalidity or unenforceability of any Loan Document, or any Loan Party shall fail to comply with any of the terms or provisions of any Loan Document to
which it is a party, or any Loan Party shall deny that it has any further liability under any Loan Document to which it is a party, or shall give notice to such effect. 
 7.15. Any Collateral Document shall for any reason fail to create a valid and perfected first priority security interest in any material portion of the Collateral purported to be covered thereby, except
as permitted by the terms of any Collateral Document, or any Collateral Document shall fail to remain in full force or effect or any action shall be taken to discontinue or to assert the invalidity or unenforceability of any Collateral Document.

 7.16. Any Change in Control shall occur. 
 ARTICLE VIII 
 ACCELERATION, WAIVERS, AMENDMENTS AND REMEDIES

 8.1. Acceleration. 
 8.1.1. If any Default described in Section 7.6 or 7.7 occurs with respect to any Borrower, the obligations of the Lenders to make Loans hereunder and the obligation and power of the LC Issuer to
issue Facility LCs shall automatically terminate and the Obligations shall immediately become due and payable without any election or action on the part of the Agent, the LC Issuer or any Lender and the Company will be and become thereby
unconditionally obligated, without any further notice, act or demand, to pay to the Agent an amount in immediately available funds, which funds shall be held in the Facility LC Collateral Account, equal to the difference of (x) the amount of LC
Obligations at such time, less (y) the amount on deposit in the Facility LC Collateral Account at such time which is free and clear of all rights and claims of third parties and has not been applied against the Obligations (such difference, the
“Collateral Shortfall Amount”). If any other Default occurs, the Required Lenders (or the Agent with the consent of the Required Lenders) may (a) terminate or suspend the obligations of the Lenders to make Loans hereunder and the
obligation and power of the LC Issuer to issue Facility LCs, or declare the Obligations to be due and payable, or both, whereupon the Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind,
all of which the Borrowers hereby expressly waive, and (b) upon notice to the Company and in addition to the continuing right to demand payment of all amounts payable under this Agreement, make demand on the Company to pay, and the Company
will, forthwith upon such demand and without any further notice or act, pay to the Agent the Collateral Shortfall Amount, which funds shall be deposited in the Facility LC Collateral Account. 

  
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 8.1.2. If at any time while any Default is continuing, the Agent determines
that the Collateral Shortfall Amount at such time is greater than zero, the Agent may make demand on the Company to pay, and the Company will, forthwith upon such demand and without any further notice or act, pay to the Agent the Collateral
Shortfall Amount, which funds shall be deposited in the Facility LC Collateral Account. 
 8.1.3. Notwithstanding
anything to the contrary herein, the portions of the Collateral Shortfall Amount attributable to LC Obligations for Facility LCs issued in Foreign Currencies shall be deposited in the applicable Foreign Currencies in the actual amounts of such LC
Obligations. For purposes of determining the Collateral Shortfall Amount under this Agreement, the LC Obligations shall be calculated using the applicable Exchange Rate on the date notice cash collateralization is delivered to the Company (or on the
date of any Default described in Section 7.6 or 7.7 with respect to any Borrower). 
 8.1.4. The Agent may
at any time or from time to time after funds are deposited in the Facility LC Collateral Account, apply such funds to the payment of the Obligations and any other amounts as shall from time to time have become due and payable by the Company to the
Lenders or the LC Issuer under the Loan Documents. 
 8.1.5. At any time while any Default is continuing, neither
the Company nor any Person claiming on behalf of or through the Company shall have any right to withdraw any of the funds held in the Facility LC Collateral Account. After this Agreement has terminated in accordance with Section 2.7(c), any
funds remaining in the Facility LC Collateral Account shall be returned by the Agent to the Company or paid to whomever may be legally entitled thereto at such time. 

8.1.6. At any time while any Default is continuing, the Agent may, with the consent of the Required Lenders, exercise any
rights and remedies provided to the Agent under the Loan Documents or at law or equity, including all remedies provided under the UCC. 
 8.1.7. If, within 30 days after acceleration of the maturity of the Obligations or termination of the obligations of the Lenders to make Loans and the obligation and power of the LC Issuer to issue
Facility LCs hereunder as a result of any Default (other than any Default as described in Section 7.6 or 7.7 with respect to a Borrower) and before any judgment or decree for the payment of the Obligations due shall have been obtained or
entered, the Required Lenders (in their sole discretion) shall so direct, the Agent shall, by notice to the Borrowers, rescind and annul such acceleration and/or termination. 
 8.2. Amendments. 
 (a) Subject to the provisions of this
Section 8.2, the Required Lenders (or the Agent with the consent in writing of the Required Lenders) and the Borrowers may enter into agreements supplemental hereto for the purpose of adding or modifying any provisions to this Agreement or
changing in any manner the rights of the Lenders or the Borrowers hereunder or waiving any Default hereunder; provided, however, that no such supplemental agreement shall: 

 

	 	(i)	Reduce the principal amount of any Loan or Reimbursement Obligation or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written
consent of each Lender directly affected thereby. 

  
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	 	(ii)	Postpone the scheduled date of payment of the principal amount of any Loan or Reimbursement Obligation, or any interest thereon, or any fees payable hereunder, or
reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Revolving Loan Commitment or Term Loan Commitment, without the written consent of each Lender directly affected thereby.

  

	 	(iii)	Reduce the percentage specified in the definition of Required Lenders or any other percentage of Lenders specified to be the applicable percentage in this Agreement to
act on specified matters without the consent of each Lender (or, in the case of the percentage specified in the definition of Required Revolving Lenders, without the consent of each Revolving Lender) (it being understood that, solely with the
consent of the parties prescribed by Section 2.5(c) to be parties to an Incremental Term Loan Amendment, Incremental Term Loans may be included in the determination of Required Lenders on substantially the same basis as the Revolving Loan
Commitments, Revolving Loans and Term Loans are included on the Closing Date). 

  

	 	(iv)	Increase the amount of the Revolving Loan Commitment or the Term Loan Commitment of any Lender hereunder without the consent of such Lender. 

 

	 	(v)	Permit any Borrower to assign its rights under this Agreement without the written consent of each Lender. 

 

	 	(vi)	Amend this Section 8.2 without the written consent of each Lender. 

  

	 	(vii)	Amend the definition of “Agreed Currency” set forth in Section 1.1 without the written consent of each Lender directly affected thereby.

  

	 	(viii)	Release any Domestic Subsidiary Guarantor, except in connection with a disposition of all of the Equity Interests of a Domestic Subsidiary Guarantor otherwise permitted
by the Loan Documents, or, except as provided in the Collateral Documents, release all or substantially all of the Collateral, in any such case, without the written consent of each Lender. 

 

	 	(ix)	(A) Release the Company from its obligations under Section 16.1 or (B) unless at such time no other Foreign Subsidiary Borrowers are party hereto, release any
Foreign Subsidiary Borrower from its obligations under any Subsidiary Guaranty without the written consent of each Lender. 

  

	 	(x)	Amend Section 11.2 in a manner that would alter the pro rata sharing of payments required thereby. 

(b) No amendment of any provision of this Agreement relating to the Agent shall be effective without the written consent
of the Agent, and no amendment of any provision relating to the LC Issuer shall be effective without the written consent of the LC Issuer. No amendment to any provision of this Agreement relating to the Swing Line Lender or any Swing Line Loans
shall be affective without the written consent of the Swing Line Lender. The Agent may waive payment of the fee required under Section 12.3.2. No amendment to Section 2.21 shall be effective without the written consent of the Agent, the LC
Issuer and the Swing Line Lender. 

  
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 (c) Notwithstanding the foregoing, (i) this Agreement may be amended or
amended and restated pursuant to an Incremental Term Loan Amendment pursuant to Section 2.5(c) with only the consents prescribed by such Section and (ii) this Agreement may be amended (or amended and restated) with the written consent of
the Required Lenders, the Agent and the Company (x) to add one or more credit facilities to this Agreement and to permit extensions of credit from time to time outstanding thereunder and the accrued interest and fees in respect thereof to share
ratably in the benefits of this Agreement and the other Loan Documents with the Revolving Loans, Term Loans and the accrued interest and fees in respect thereof and (y) to include appropriately the Lenders holding such credit facilities in any
determination of the Required Lenders and Lenders. 
 (d) If, in connection with any proposed amendment, waiver
or consent requiring the consent of “each Lender” or “each Lender directly affected thereby,” the consent of the Required Lenders is obtained, but the consent of other necessary Lenders is not obtained (any such Lender whose
consent is necessary but not obtained being referred to herein as a “Non-Consenting Lender”), then the Company may elect to replace a Non-Consenting Lender as a Lender party to this Agreement, provided that, concurrently with
such replacement, (i) another bank or other entity which is reasonably satisfactory to the Company, the Agent and (if such Non-Consenting Lender is a Revolving Lender) JPMorgan in its capacity as LC Issuer shall agree, as of such date, to
purchase for cash the Advances and other Obligations due to the Non-Consenting Lender pursuant to an assignment substantially in the form of Exhibit C and to become a Lender for all purposes under this Agreement and to assume all obligations of the
Non-Consenting Lender to be terminated as of such date and to comply with the requirements of Section 12.3 applicable to assignments, and (ii) the Borrowers shall pay to such Non-Consenting Lender in same day funds on the day of such
replacement (A) all interest, fees and other amounts then accrued but unpaid to such Non-Consenting Lender by the Borrowers hereunder to and including the date of termination, including without limitation payments due to such Non-Consenting
Lender under Sections 3.1, 3.2, 3.5 and 3.6, and (B) an amount, if any, equal to the payment which would have been due to such Lender on the day of such replacement under Section 3.4 had the Loans of such Non-Consenting Lender been prepaid
on such date rather than sold to the replacement Lender. 
 (e) Notwithstanding anything to the contrary herein
the Agent may, with the consent of the Borrowers only, amend, modify or supplement this Agreement or any of the other Loan Documents to cure any ambiguity, omission, mistake, defect or inconsistency. 

8.3. Preservation of Rights. No delay or omission of the Lenders, the LC Issuer or the Agent to exercise any right under the Loan
Documents shall impair such right or be construed to be a waiver of any Default or an acquiescence therein, and the making of a Credit Extension notwithstanding the existence of a Default or the inability of any Borrower to satisfy the conditions
precedent to such Credit Extension shall not constitute any waiver or acquiescence. Any single or partial exercise of any such right shall not preclude other or further exercise thereof or the exercise of any other right, and no waiver, amendment or
other variation of the terms, conditions or provisions of the Loan Documents whatsoever shall be valid unless in writing signed by the Lenders required pursuant to Section 8.2 or such Loan Documents, and then only to the extent in such writing
specifically set forth. All remedies contained in the Loan Documents or by law afforded shall be cumulative and all shall be available to the Agent, the LC Issuer and the Lenders until this Agreement terminates as described in Section 2.7(c).

  
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 ARTICLE IX 
 GENERAL PROVISIONS 
 9.1. Survival of Representations. All
representations and warranties of the Borrowers contained in this Agreement shall survive the making of the Credit Extensions herein contemplated. 
 9.2. Governmental Regulation. Anything contained in this Agreement to the contrary notwithstanding, neither the LC Issuer nor any Lender shall be obligated to extend credit to any Borrower in
violation of any limitation or prohibition provided by any applicable statute or regulation. 
 9.3. Headings. Section
headings in the Loan Documents are for convenience of reference only, and shall not govern the interpretation of any of the provisions of the Loan Documents. 
 9.4. Entire Agreement. The Loan Documents embody the entire agreement and understanding among the Borrowers, the Agent, the LC Issuer and the Lenders and, subject to Section 1.3, supersede all
prior agreements and understandings among the Borrowers, the Agent, the LC Issuer and the Lenders relating to the subject matter thereof other than those contained in the fee letters described in Section 10.13, which shall survive and remain in
full force and effect during the term of this Agreement. 
 9.5. Several Obligations; Benefits of this Agreement. The
respective obligations of the Lenders hereunder are several and not joint and no Lender shall be the partner or agent of any other (except to the extent to which the Agent is authorized to act as such). The failure of any Lender to perform any of
its obligations hereunder shall not relieve any other Lender from any of its obligations hereunder. This Agreement shall not be construed so as to confer any right or benefit upon any Person other than the parties to this Agreement and their
respective successors and assigns, provided, however, that the parties hereto expressly agree that each Arranger shall enjoy the benefits of the provisions of Sections 9.6, 9.10 and 10.11 to the extent specifically set forth therein and shall have
the right to enforce such provisions on its own behalf and in its own name to the same extent as if it were a party to this Agreement. 
 9.6. Expenses; Indemnification. (i) The Company shall reimburse the Agent and the Arrangers for any costs, internal charges and reasonable out-of-pocket expenses (including reasonable
attorneys’ fees and time charges of attorneys for the Agent, which attorneys may be employees of the Agent) paid or incurred by the Agent or the Arrangers in connection with the preparation, negotiation, execution, delivery, syndication,
distribution (including, without limitation, via the internet or through a service such as IntraLinks), review, amendment, modification, and administration of the Loan Documents. The Company also agrees to reimburse the Agent, the Arrangers, the LC
Issuer and the Lenders for any costs, internal charges and out-of-pocket expenses (including reasonable attorneys’ fees and time charges of attorneys for the Agent, the Arrangers, the LC Issuer and the Lenders, which attorneys may be employees
of the Agent, the Arrangers, the LC Issuer or the Lenders) paid or incurred by the Agent, the Arrangers, the LC Issuer or any Lender in connection with the collection and enforcement of, or protection of its rights under, the Loan Documents.

 (ii) The Company hereby further agrees to indemnify the Agent, the Arrangers, the LC Issuer, each Lender, their respective
affiliates, and each of such Person’s respective directors, officers, employees, agents and advisors, against all losses, claims, damages, penalties, judgments, liabilities and expenses (including, without limitation, all expenses of litigation
or preparation therefor whether or not the Agent, the Arrangers, the LC Issuer, any Lender or any affiliate is a party thereto) which any of them may pay or incur arising out of or relating to this Agreement, the other Loan Documents, the
transactions contemplated hereby or the direct or indirect application or proposed application of the proceeds of any Credit Extension hereunder, any or any actual or alleged presence or release of hazardous materials on or from any Property owned
or operated by the Company or any of its Subsidiaries, or any environmental liability related in any way to the Company or any of its Subsidiaries, except in any such case, to the extent that they are determined in a final non-appealable judgment by
a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of the party seeking indemnification. The obligations of the Company under this Section 9.6 shall survive the termination of this Agreement.

  
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 9.7. Numbers of Documents. All statements, notices, closing documents, and requests
hereunder shall be furnished to the Agent with sufficient counterparts so that the Agent may furnish one to each of the Lenders. 
 9.8. Accounting. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time;
provided that, if the Company notifies the Agent that the Company requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of
such provision (or if the Agent notifies the Company that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application
thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith.
Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made (i) without giving effect to any
election under Accounting Standards Codification 825-10-25 (previously referred to as Statement of Financial Accounting Standards 159) (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or
effect) to value any Indebtedness or other liabilities of the Company or any Subsidiary at “fair value”, as defined therein and (ii) without giving effect to any treatment of Indebtedness in respect of convertible debt instruments
under Financial Accounting Standards Board Staff Position APB 14-1 to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof

 9.9. Severability of Provisions. Any provision in any Loan Document that is held to be inoperative, unenforceable, or
invalid in any jurisdiction shall, as to that jurisdiction, be inoperative, unenforceable, or invalid without affecting the remaining provisions in that jurisdiction or the operation, enforceability, or validity of that provision in any other
jurisdiction, and to this end the provisions of all Loan Documents are declared to be severable. 
 9.10. Nonliability of
Lenders. The relationship between the Borrowers on the one hand and the Lenders, the LC Issuer and the Agent on the other hand shall be solely that of borrower and lender. None of the Agent, the Arrangers, the LC Issuer nor any Lender shall have
any fiduciary responsibilities to any Borrower. None of the Agent, the Arrangers, the LC Issuer nor any Lender undertakes any responsibility to any Borrower to review or inform any Borrower of any matter in connection with any phase of such
Borrower’s business or operations. Each Borrower agrees that none of the Agent, the Arrangers, the LC Issuer nor any Lender shall have liability to such Borrower (whether sounding in tort, contract or otherwise) for losses suffered by such
Borrower in connection with, arising out of, or in any way related to, the transactions contemplated and the relationship established by the Loan Documents, or any act, omission or event occurring in connection therewith, unless it is determined in
a final non-appealable judgment by a court of competent jurisdiction that such losses resulted from the gross negligence or willful misconduct of the party from which recovery is sought. None of the Agent, the Arrangers, the LC Issuer nor any Lender
shall have any liability with respect to, and each Borrower hereby waives, releases and agrees not to sue for, any special, indirect, consequential or punitive damages suffered by such Borrower in connection with, arising out of, or in any way
related to the Loan Documents or the transactions contemplated thereby. 

  
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 9.11. Confidentiality. The Agent and each Lender agrees to hold any confidential
information which it may receive from the Borrowers in connection with this Agreement in confidence, except for disclosure (i) to its Affiliates and to the Agent and any other Lender and their respective Affiliates, (ii) to legal counsel,
accountants, and other professional advisors to such Lender or to a Transferee, (iii) to regulatory officials, (iv) to any Person as requested pursuant to or as required by law, regulation, or legal process, (v) to any Person in
connection with any legal proceeding to which it or its Affiliates is a party, (vi) to its direct or indirect contractual counterparties in swap agreements or to legal counsel, accountants and other professional advisors to such counterparties,
(vii) permitted by Section 12.4, and (viii) to rating agencies if requested or required by such agencies in connection with a rating relating to the Advances hereunder. Without limiting Section 9.4, each Borrower agrees that the
terms of this Section 9.11 shall set forth the entire agreement between such Borrower and each Lender (including the Agent) with respect to any confidential information previously or hereafter received by such Lender in connection with this
Agreement, and this Section 9.11 shall supersede any and all prior confidentiality agreements entered into by such Lender with respect to such confidential information. 
 9.12. Disclosure. The Borrowers and each Lender hereby acknowledge and agree that JPMorgan and/or its Affiliates from time to time may hold investments in, make other loans to or have other
relationships with the Company and its Affiliates. 
 9.13. USA PATRIOT ACT; European “Know Your Customer”
Checks. 
 9.13.1. Each Lender hereby notifies the Borrowers that pursuant to the requirements of the USA
PATRIOT Act, it is required to obtain, verify and record information that identifies such Borrower, which information includes the name and address of such Borrower and other information that will allow such Lender to identify such Borrower in
accordance with the USA PATRIOT Act. 
 9.13.2. If (a) the introduction of or any change in (or in the
interpretation, administration or application of) any law or regulation made after the date of this Agreement; (b) any change in the status of a Borrower after the date of this Agreement; or (c) a proposed assignment or transfer by a
Lender of any of its rights and obligations under this Agreement to a party that is not a Lender prior to such assignment or transfer, obliges the Agent or any Lender (or, in the case of clause (c) above, any prospective new Lender) to comply
with “know your customer” or similar identification procedures in circumstances where the necessary information is not already available to it, each Borrower shall promptly upon the request of the Agent or any Lender supply, or procure the
supply of, such documentation and other evidence as is reasonably requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or, in the case of the event described in clause (c) above, on behalf of any prospective
new Lender) in order for the Agent, such Lender or, in the case of the event described in clause (c) above, any prospective new Lender to carry out and be satisfied it has complied with all necessary “know your customer” or other
similar checks under all applicable laws and regulations pursuant to the transactions contemplated in this Agreement and the other Loan Documents. Each Lender shall promptly upon the request of the Agent supply, or procure the supply of, such
documentation and other evidence as is reasonably requested by the Agent (for itself) in order for the Agent to carry out and be satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable
laws and regulations pursuant to the transactions contemplated in this Agreement and the other Loan Documents. 

  
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 9.14. English Language. All certificates, instruments and other documents to be
delivered under or supplied in connection with this Agreement shall be in the English language or shall attach a certified English translation thereof, which translation shall be the governing version. Within one month of the delivery of any
financial statements or other information written in a language other than English, the Company shall deliver to the Agent (for distribution to the Lenders) an English translation of such financial statements. 

9.15. Borrower Limitations. Each Borrower shall be liable for its Obligations (including, without limitation, Loans extended to
it). The Company shall be liable for each Foreign Subsidiary Borrower’s Obligations. Each Foreign Subsidiary Borrower shall be liable for each other Foreign Subsidiary Borrower’s Obligations to extent set forth in its respective Subsidiary
Guaranty, but shall in no event be liable for any of the Company’s Obligations. Each Domestic Subsidiary Guarantor shall guaranty the repayment of all Obligations, irrespective of the Borrower that incurs such Obligations. 

ARTICLE X 

THE AGENT 
 10.1. Appointment; Nature of Relationship. JPMorgan is hereby appointed by each of the Lenders as its contractual representative (herein referred to as the “Agent”) hereunder and
under each other Loan Document, and each of the Lenders irrevocably authorizes the Agent to act as the contractual representative of such Lender with the rights and duties expressly set forth herein and in the other Loan Documents. The Agent agrees
to act as such contractual representative upon the express conditions contained in this Article X. Notwithstanding the use of the defined term “Agent,” it is expressly understood and agreed that the Agent shall not have any fiduciary
responsibilities to any Lender by reason of this Agreement or any other Loan Document and that the Agent is merely acting as the contractual representative of the Lenders with only those duties as are expressly set forth in this Agreement and the
other Loan Documents. In its capacity as the Lenders’ contractual representative, the Agent (i) does not hereby assume any fiduciary duties to any of the Lenders, (ii) is a “representative” of the Lenders within the meaning
of the term “secured party” as defined in the Illinois Uniform Commercial Code and (iii) is acting as an independent contractor, the rights and duties of which are limited to those expressly set forth in this Agreement and the other
Loan Documents. Each of the Lenders hereby agrees to assert no claim against the Agent on any agency theory or any other theory of liability for breach of fiduciary duty, all of which claims each Lender hereby waives. Except as expressly set forth
herein, the Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Company or any of its Subsidiaries that is communicated to or obtained by the bank serving as Agent or any of
its Affiliates in any capacity. 
 10.2. Powers. The Agent shall have and may exercise such powers under the Loan
Documents as are specifically delegated to the Agent by the terms of each thereof, together with such powers as are reasonably incidental thereto. The Agent shall have no implied duties to the Lenders, or any obligation to the Lenders to take any
action thereunder except any action specifically provided by the Loan Documents to be taken by the Agent. 
 10.3. General
Immunity. Neither the Agent nor any of its directors, officers, agents or employees shall be liable to the Borrowers, the Lenders or any Lender for any action taken or omitted to be taken by it or them hereunder or under any other Loan Document
or in connection herewith or therewith except to the extent such action or inaction is determined in a final non-appealable judgment by a court of competent jurisdiction to have arisen from the gross negligence or willful misconduct of such Person.

  
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 10.4. No Responsibility for Loans, Recitals, etc. Neither the Agent nor any of its
directors, officers, agents or employees shall be responsible for or have any duty to ascertain, inquire into, or verify (a) any statement, warranty or representation made in connection with any Loan Document or any borrowing hereunder;
(b) the performance or observance of any of the covenants or agreements of any obligor under any Loan Document, including, without limitation, any agreement by an obligor to furnish information directly to each Lender; (c) the satisfaction
of any condition specified in Article IV, except receipt of items required to be delivered solely to the Agent; (d) the existence or possible existence of any Default or Unmatured Default; (e) the validity, enforceability, effectiveness,
sufficiency or genuineness of any Loan Document or any other instrument or writing furnished in connection therewith; (f) the value, sufficiency, creation, perfection or priority of any Lien in any collateral security; or (g) the financial
condition of any Borrower or any guarantor of any of the Obligations or of any Borrower’s or any such guarantor’s respective Subsidiaries. 
 10.5. Action on Instructions of Lenders. The Agent shall in all cases be fully protected in acting, or in refraining from acting, hereunder and under any other Loan Document in accordance with
written instructions signed by the Required Lenders, and such instructions and any action taken or failure to act pursuant thereto shall be binding on all of the Lenders. The Lenders hereby acknowledge that the Agent shall be under no duty to take
any discretionary action permitted to be taken by it pursuant to the provisions of this Agreement or any other Loan Document unless it shall be requested in writing to do so by the Required Lenders. The Agent shall be fully justified in failing or
refusing to take any action hereunder and under any other Loan Document unless it shall first be indemnified to its satisfaction by the Lenders pro rata against any and all liability, cost and expense that it may incur by reason of taking or
continuing to take any such action. 
 10.6. Employment of Agents and Counsel. The Agent may execute any of its duties as
Agent hereunder and under any other Loan Document by or through employees, agents, and attorneys-in-fact and shall not be answerable to the Lenders, except as to money or securities received by it or its authorized agents, for the default or
misconduct of any such agents or attorneys-in-fact selected by it with reasonable care. The Agent shall be entitled to advice of counsel concerning the contractual arrangement between the Agent and the Lenders and all matters pertaining to the
Agent’s duties hereunder and under any other Loan Document. 
 10.7. Reliance on Documents; Counsel. The Agent shall
be entitled to rely upon any Note, notice, consent, certificate, affidavit, letter, telegram, facsimile, telex, electronic mail message, statement, paper or document believed by it to be genuine and correct and to have been signed or sent by the
proper person or persons, and, in respect to legal matters, upon the opinion of counsel selected by the Agent, which counsel may be employees of the Agent. For purposes of determining compliance with the conditions specified in Sections 4.1, 4.2 and
4.3, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to
a Lender unless the Agent shall have received notice from such Lender prior to the applicable date specifying its objection thereto. 

  
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 10.8. Agent’s Reimbursement and Indemnification. The Lenders agree to reimburse
and indemnify the Agent ratably in proportion to their respective Pro Rata Shares of the applicable amount (i) for any amounts not reimbursed by the Company for which the Agent is entitled to reimbursement by the Company under the Loan
Documents, (ii) for any other expenses incurred by the Agent on behalf of the Lenders, in connection with the preparation, execution, delivery, administration and enforcement of the Loan Documents (including, without limitation, for any
expenses incurred by the Agent in connection with any dispute between the Agent and any Lender or between two or more of the Lenders) and (iii) for any liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs,
expenses or disbursements of any kind and nature whatsoever which may be imposed on, incurred by or asserted against the Agent in any way relating to or arising out of the Loan Documents or any other document delivered in connection therewith or the
transactions contemplated thereby (including, without limitation, for any such amounts incurred by or asserted against the Agent in connection with any dispute between the Agent and any Lender or between two or more of the Lenders), or the
enforcement of any of the terms of the Loan Documents or of any such other documents, provided that (i) no Lender shall be liable for any of the foregoing to the extent any of the foregoing is found in a final non-appealable judgment by a court
of competent jurisdiction to have resulted from the gross negligence or willful misconduct of the Agent, (ii) any indemnification required pursuant to Section 3.5.6 shall, notwithstanding the provisions of this Section 10.8, be paid
by the relevant Lender in accordance with the provisions thereof. The obligations of the Lenders under this Section 10.8 shall survive payment of the Obligations and termination of this Agreement; provided, however, that any such amounts
relating solely to the Term Loan Facility (as determined by the Agent in its sole discretion) shall be reimbursed by the Term Loan Lenders ratably in proportion to their respective Term Loan Pro Rata Shares thereof and any such amounts relating
solely to the Revolving Loan Facility (as determined by the Agent in its sole discretion) shall be reimbursement by the Revolving Lenders ratably in proportion to their respective Revolving Loan Pro Rata Shares thereof. 

10.9. Notice of Default. The Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Unmatured
Default hereunder unless the Agent has received written notice from a Lender or a Borrower referring to this Agreement describing such Default or Unmatured Default and stating that such notice is a “notice of default”. In the event that
the Agent receives such a notice, the Agent shall give prompt notice thereof to the Lenders. 
 10.10. Rights as a
Lender. In the event the Agent is a Lender, the Agent shall have the same rights and powers hereunder and under any other Loan Document with respect to its Revolving Loan Commitment, its Term Loan Commitment and its Loans as any Lender and may
exercise the same as though it were not the Agent, and the term “Lender” or “Lenders” shall, at any time when the Agent is a Lender, unless the context otherwise indicates, include the Agent in its individual capacity. The Agent
and its Affiliates may accept deposits from, lend money to, and generally engage in any kind of trust, debt, equity or other transaction, in addition to those contemplated by this Agreement or any other Loan Document, with the Company or any of its
Subsidiaries in which the Company or such Subsidiary is not restricted hereby from engaging with any other Person. 
 10.11.
Lender Credit Decision. Each Lender acknowledges that it has, independently and without reliance upon the Agent, the Arrangers or any other Lender and based on the financial statements prepared by the Borrowers and such other documents and
information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the other Loan Documents. Each Lender also acknowledges that it will, independently and without reliance upon the Agent, the
Arrangers or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement and the other Loan Documents. Except
for any notice, report, document or other information expressly required to be furnished to the Lenders by the Agent or Arrangers hereunder, neither the Agent nor the Arrangers shall have any duty or responsibility (either initially or on a
continuing basis) to provide any Lender with any notice, report, document, credit information or other information concerning the affairs, financial condition or business of the Borrowers or any of their respective Affiliates that may come into the
possession of the Agent or Arrangers (whether or not in their respective capacity as Agent or Arranger) or any of their Affiliates. 

  
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 10.12. Successor Agent. The Agent may resign at any time by giving written notice
thereof to the Lenders and the Borrowers, such resignation to be effective upon the appointment of a successor Agent or, if no successor Agent has been appointed, forty-five days after the retiring Agent gives notice of its intention to resign. Upon
any such resignation, the Required Lenders shall have the right to appoint, on behalf of the Borrowers and the Lenders, a successor Agent. If no successor Agent shall have been so appointed by the Required Lenders within thirty days after the
resigning Agent’s giving notice of its intention to resign, then the resigning Agent may appoint, on behalf of the Borrower and the Lenders, a successor Agent. Notwithstanding the previous sentence, the Agent may at any time without the consent
of any Borrower or any Lender, appoint any of its Affiliates which is a commercial bank as a successor Agent hereunder. If the Agent has resigned and no successor Agent has been appointed, the Lenders may perform all the duties of the Agent
hereunder and the Borrowers shall make all payments in respect of the Obligations to the applicable Lender and for all other purposes shall deal directly with the Lenders. No successor Agent shall be deemed to be appointed hereunder until such
successor Agent has accepted the appointment. Any such successor Agent shall be a commercial bank having capital and retained earnings of at least $100,000,000. Upon the acceptance of any appointment as Agent hereunder by a successor Agent, such
successor Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the resigning Agent. Upon the effectiveness of the resignation of the Agent, the resigning Agent shall be discharged from its duties
and obligations hereunder and under the Loan Documents. After the effectiveness of the resignation of an Agent, the provisions of this Article X shall continue in effect for the benefit of such Agent in respect of any actions taken or omitted to be
taken by it while it was acting as the Agent hereunder and under the other Loan Documents. In the event that there is a successor to the Agent by merger, or the Agent assigns its duties and obligations to an Affiliate pursuant to this
Section 10.12, then the term “Prime Rate” as used in this Agreement shall mean the prime rate, base rate or other analogous rate of the new Agent. 
 10.13. Agent and Arranger Fees. Without limiting the continuing applicability of any fee letters delivered in connection with the Existing Credit Agreement, the Company agrees to pay to the Agent
and the Arrangers, for their respective accounts, the fees agreed to by the Borrower and the Arrangers pursuant to the letter agreements among such parties dated January 24, 2011, or as otherwise agreed from time to time. 

10.14. Delegation to Affiliates. The Borrowers and the Lenders agree that the Agent may delegate any of its duties under this
Agreement to any of its Affiliates. Any such Affiliate (and such Affiliate’s directors, officers, agents and employees) which performs duties in connection with this Agreement shall be entitled to the same benefits of the indemnification,
waiver and other protective provisions to which the Agent is entitled under Articles IX and X. 
 10.15. Collateral
Matters. 
 10.15.1. In its capacity, the Agent is a “representative” of the Holders of Secured
Obligations within the meaning of the term “secured party” as defined in the Illinois Uniform Commercial Code. Each Lender authorizes the Agent to enter into and amend pursuant to, and in accordance with, Section 8.2 each Guaranty,
Collateral Document or related intercreditor agreement to which it is or may become a party and to take all action contemplated by such documents (it being agreed that clauses (vii) and (ix) of the proviso in Section 8.2(a) shall
apply to amendments to any Loan Document). Each Lender agrees that no Holder of Secured Obligations (other than the Agent) shall have the right individually to seek to realize upon the security granted by any Collateral Document, it being understood
and agreed that such rights and remedies may be exercised solely by the Agent upon the terms of the Collateral Documents. In the event that any Collateral is hereafter pledged by any Person as collateral security for the Secured Obligations, the
Agent is hereby authorized, and hereby granted a power of attorney, to execute and deliver on behalf of the Holders of Secured Obligations any Loan Documents necessary or appropriate to grant and perfect a Lien on such Collateral in favor of the
Agent on behalf of the Holders of Secured Obligations. 

  
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 10.15.2. Each Lender hereby appoints each other Lender as its agent for the
purpose of perfecting Liens, for the benefit of the Agent and the Holders of Secured Obligations, in assets which, in accordance with Article 9 of the UCC or any other applicable law can be perfected only by possession. Should any Lender (other than
the Agent) obtain possession of any such Collateral, such Lender shall notify the Agent thereof, and, promptly upon the Agent’s request therefor shall deliver such Collateral to the Agent or otherwise deal with such Collateral in accordance
with the Agent’s instructions. 
 10.16. Guaranty and Collateral Releases. 

10.16.1. The Lenders hereby authorize the Agent, at its option and in its discretion, to permit the release of any
Domestic Subsidiary Guarantor from the Domestic Subsidiary Guaranty or of any Lien granted to or held by the Agent upon any Collateral (i) as described in Section 6.21(f); (ii) as permitted by, but only in accordance with, the terms
of the applicable Loan Documents; or (iii) if approved, authorized or ratified in writing by the Required Lenders, unless such release is required to be approved by all of the Lenders hereunder. Upon request by the Agent at any time, the
Lenders will confirm in writing the Agent’s authority to release any particular Subsidiary Guarantor or particular types or items of Collateral pursuant hereto. 

10.16.2. Upon any sale or transfer of assets constituting Collateral which is permitted pursuant to the terms of any Loan
Document, or consented to in writing by the Required Lenders or all of the Lenders, as applicable, and upon at least five Business Days’ prior written request by the Company, the Agent shall (and is hereby irrevocably authorized by the Lenders
to) execute such documents as may be necessary to evidence the release of the Liens granted to the Agent herein or pursuant hereto upon the Collateral that was sold or transferred; provided, however, that (i) the Agent shall not be
required to execute any such document on terms which, in the Agent’s opinion, would expose the Agent to liability or create any obligation or entail any consequence other than the release of such Liens without recourse or warranty, and
(ii) such release shall not in any manner discharge, affect or impair the Secured Obligations or any Liens upon (or obligations of the Loan Parties in respect of) all interests retained by the Loan Parties, including (without limitation) the
proceeds of the sale, all of which shall continue to constitute part of the Collateral. 
 10.17. Parallel Debt.

 10.17.1. The Company hereby irrevocably and unconditionally undertakes to pay to the Agent an amount equal to
the aggregate amount due (verschuldigd) in respect of (i) its Obligations (including its Obligations pursuant to Clause 16.1 of the Credit Agreement) and (ii) all Rate Management Obligations and Banking Services Obligations owing by
the Company to one or more Lenders or their respective Affiliates, in each case, as they may exist from time to time. The payment undertaking of the Company to the Agent under this Section 10.17.1. is hereinafter referred to as the
“Parallel US Debt”. Each Dutch Borrower (together with the Company, each a “Parallel Debt Obligor”) hereby irrevocably and unconditionally undertakes to pay to the Agent an amount equal to the aggregate amount due
(verschuldigd) in respect of (i) its Obligations (including its Obligations pursuant to the relevant Guaranty) and (ii) all Rate Management Obligations and Banking Services Obligations owing by such Dutch Borrower to one or more
Lenders or their respective Affiliates, in each case, as they may exist from time to time. The payment undertaking of each Dutch Borrower to the Agent under this Section 10.17.1 is hereinafter to be referred to as the “Parallel Foreign
Debt”. The Parallel US Debt and each Parallel Foreign Debt are hereinafter also to be referred to as a “Parallel Debt”. 

  
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 10.17.2. Each Parallel Debt will be payable in the currency or currencies of
the corresponding Obligations, Rate Management Obligations or Banking Services Obligations, respectively. 

10.17.3. Any obligation under the Parallel Debt of any Parallel Debt Obligor shall become due and payable
(opeisbaar) as and when and to the extent one or more of the corresponding Obligations, Rate Management Obligations and Banking Services Obligations, respectively, become due and payable. Each of the parties hereto agree that a Default in
respect of the Obligations, the Rate Management Obligations or the Banking Services Obligations shall constitute a default (verzuim) within the meaning of Article 3:248 Netherlands Civil Code with respect to the relevant Parallel Debt of a
Parallel Debt Obligor as well without any notice being required therefor. 
 10.17.4. Each of the parties hereto
acknowledges that: 
 (a) The Parallel Debt of each Parallel Debt Obligor constitutes an undertaking, obligation
and liability of such Parallel Debt Obligor to the Agent which is separate and independent from, and without prejudice to, the Obligations, the Rate Management Obligations or the Banking Services Obligations; and 

(b) The Parallel Debt of each Parallel Debt Obligor represents the Agent’s own separate and independent claim
(eigen en zelfstandige vordering) to receive payment of such Parallel Debt from such Parallel Debt Obligor and shall not constitute the Agent and any holder of Obligations, the Rate Management Obligations or the Banking Services Obligations,
as joint creditors (hoofdelijk schuldeisers) of any Obligation, the Rate Management Obligations and the Banking Services Obligations. 

It being understood that the amount which may become payable by a Parallel Debt Obligor as its Parallel Debt shall never exceed the total of the amounts
which are payable by it under its Obligations, Swap Obligations and Banking Services Obligations. 
 10.17.5. The
Agent and the Holders of Secured Obligations agree that, to the extent the Agent irrevocably (onaantastbaar) receives any amount in payment of any Parallel Debt, it shall distribute such amount among the Holders of Secured Obligations that
are creditors of the corresponding Obligations, Rate Management Obligations or Banking Services Obligations in accordance with the provisions of this Agreement. Upon irrevocable (onaantastbaar) receipt by the Agent of any amount in payment of
the Parallel Debt of a Parallel Debt Obligor (the “Received Amount”), the corresponding Obligations, Rate Management Obligations or Banking Services Obligations of such Parallel Debt Obligor shall be reduced by amounts totaling an
amount (the “Deductible Amount”) equal to the Received Amount in the manner as if the Deductible Amount were received as a payment of the relevant Obligations, Rate Management Obligations or Banking Services Obligations on the date
of receipt by the Agent of the Received Amount. 

  
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 10.17.6. The parties hereto acknowledge and agree that, for purposes of a
Dutch pledge, any resignation by the Agent is not effective until its rights under each Parallel Debt of a Parallel Debt Obligor is assigned to the successor Agent. 
 10.18. French Security. Each Lender, on behalf of itself and its Affiliates, hereby appoints the Agent to register, perform and enforce any security interest (sûreté
réelle) granted by Actuant International Holdings, Inc., a Delaware corporation, or any other Loan Party under the laws of the Republic of France in order to secure the performance and payment of the Secured Obligations. 

10.19. Syndication Agents; Documentation Agents. None of the Lenders identified in this Agreement as a Syndication Agent or
Documentation Agent shall have any right, power, obligation, liability, responsibility or duty under this Agreement other than those applicable to all Lenders as such. Without limiting the foregoing, none of such Lenders shall have or be deemed to
have a fiduciary relationship with any Lender. Each Lender hereby makes the same acknowledgments with respect to such Lenders as it makes with respect to the Agent in Section 10.11. 

ARTICLE XI 

SETOFF; RATABLE PAYMENTS; APPLICATION OF PROCEEDS 
 11.1. Setoff. In addition to, and without limitation of, any rights of the Lenders under applicable law, if any Borrower becomes insolvent, however evidenced, or any Default occurs, any and all
deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Affiliate of any Lender to or for the credit or account of a
Borrower may be offset and applied toward the payment of the Obligations owing to such Lender, whether or not the Obligations, or any part thereof, shall then be due (it being understood and agreed that deposits of any Foreign Subsidiary Borrower or
Indebtedness held or owing by a Lender to or for the credit or account of any Foreign Subsidiary Borrower shall be offset by such Lender and applied only toward any Obligations incurred by or on behalf of a Foreign Subsidiary Borrower to that
Lender). 
 11.2. Ratable Payments. If any Lender, whether by setoff or otherwise, has payment made to it upon its
Outstanding Revolving Credit Exposure or its Term Loans (other than payments received pursuant to Section 3.1, 3.2, 3.4, 3.5 or 3.6 or as otherwise provided herein, it being understood and agreed that if a Borrower is entitled to deduct amounts
from any sum payable to a Lender in respect of taxes by operation of Section 3.5 or 3.6 and is not required to pay the full amount deducted to such Lender in accordance with such Sections, such Lender shall not be entitled to the benefits of
this Section 11.2 with respect to the amount so deducted) in a greater proportion than that received by any other Lender, such Lender agrees, promptly upon demand, to purchase a portion of the Aggregate Outstanding Revolving Credit Exposure and
Term Loans held by the other Lenders so that after such purchase the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans
or Term Loans, as the case may be, and participations in Facility LCs and Swing Line Loans. If any Lender, whether in connection with setoff or amounts which might be subject to setoff or otherwise, receives collateral or other protection for its
Secured Obligations or such amounts which may be subject to setoff, such Lender agrees, promptly upon demand, to take such action necessary such that all Lenders share in the benefits of such collateral ratably in proportion to their respective Pro
Rata Shares, Revolving Loan Pro Rata Shares and Term Loan Pro Rata Shares, as the case may be. In case any such payment is disturbed by legal process, or otherwise, appropriate further adjustments shall be made. 

  
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 11.3. Application of Proceeds. Any proceeds of Collateral received by the Agent
(i) not constituting a specific payment of principal, interest, fees or other sum payable under the Loan Documents (which shall be applied as specified by the Company) or (ii) after a Default has occurred and is continuing and the Agent so
elects or the Required Lenders so direct, such funds shall be applied ratably first, to pay any fees, indemnities, or expense reimbursements including amounts then due to the Agent and the LC Issuer from any Loan Party (other than in
connection with Rate Management Obligations and Banking Services Obligations), second, to pay accrued and unpaid interest and fees then due and payable on the Loans ratably, third, pro rata, to payment of the principal outstanding on
Loans, the Banking Services Obligations constituting Secured Obligations and the net early termination payments and any other Rate Management Obligations then due and unpaid from the Company or its Subsidiaries to any of the Lenders or their
Affiliates, pro rata among the Lenders and their Affiliates in accordance with the amount of such principal, such Banking Services Obligations and such net early termination payments and other Rate Management Obligations then due and unpaid owing to
each of them, and fourth, to the payment of any other Secured Obligations (other than those listed above) due to the Agent or any Lender by the Company or any Subsidiary pro rata among those parties to whom such Secured Obligations are due in
accordance with the amounts owing to each of them. The Agent and the Lenders shall have the continuing and exclusive right to apply and reverse and reapply any and all such proceeds and payments to any portion of the Secured Obligations. 

ARTICLE XII 
 BENEFIT OF AGREEMENT; ASSIGNMENTS; PARTICIPATIONS 
 12.1.
Successors and Assigns. The terms and provisions of the Loan Documents shall be binding upon and inure to the benefit of the Borrowers and the Lenders and their respective successors and assigns permitted hereby, except that (i) no
Borrower shall have the right to assign its rights or obligations under the Loan Documents without the prior written consent of each Lender, (ii) any assignment by any Lender must be made in compliance with Section 12.3, and (iii) any
transfer by Participation must be made in compliance with Section 12.2. Any attempted assignment or transfer by any party not made in compliance with this Section 12.1 shall be null and void, unless such attempted assignment or transfer is
treated as a participation in accordance with Section 12.3.2. The parties to this Agreement acknowledge that clause (ii) of this Section 12.1 relates only to absolute assignments and this Section 12.1 does not prohibit
assignments creating security interests, including, without limitation, (x) any pledge or assignment by any Lender of all or any portion of its rights under this Agreement and any Note to a Federal Reserve Bank or (y) in the case of a
Lender which is a Fund, any pledge or assignment of all or any portion of its rights under this Agreement and any Note to its trustee in support of its obligations to its trustee; provided, however, that no such pledge or assignment creating
a security interest shall release the transferor Lender from its obligations hereunder unless and until the parties thereto have complied with the provisions of Section 12.3. The Agent may treat the Person which made any Loan or which holds any
Note as the owner thereof for all purposes hereof unless and until such Person complies with Section 12.3; provided, however, that the Agent may in its discretion (but shall not be required to) follow instructions from the Person which
made any Loan or which holds any Note to direct payments relating to such Loan or Note to another Person. Any assignee of the rights to any Loan or any Note agrees by acceptance of such assignment to be bound by all the terms and provisions of the
Loan Documents. Any request, authority or consent of any Person, who at the time of making such request or giving such authority or consent is the owner of the rights to any Loan (whether or not a Note has been issued in evidence thereof), shall be
conclusive and binding on any subsequent holder or assignee of the rights to such Loan. 

  
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 12.2. Participations. 

12.2.1. Permitted Participants; Effect. Any Lender may at any time sell to one or more banks or other entities
(“Participants”) participating interests in any Outstanding Revolving Credit Exposure owing to such Lender, any Term Loans of such Lender, any Note held by such Lender, any Revolving Loan Commitment or any Term Loan Commitment of
such Lender or any other interest of such Lender under the Loan Documents. In the event of any such sale by a Lender of participating interests to a Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, such
Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, such Lender shall remain the owner of its Outstanding Revolving Credit Exposure and/or Term Loans, as applicable, and the holder of any Note
issued to it in evidence thereof for all purposes under the Loan Documents, all amounts payable by the Borrowers under this Agreement shall be determined as if such Lender had not sold such participating interests, and the Borrowers and the Agent
shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under the Loan Documents. 
 12.2.2. Voting Rights. Each Lender shall retain the sole right to approve, without the consent of any Participant, any amendment, modification or waiver of any provision of the Loan Documents other
than any amendment, modification or waiver with respect to any Outstanding Revolving Credit Exposure, Term Loans, Revolving Loan Commitment, Term Loan Commitment or Facility LC in which such Participant has an interest which would require consent of
the Lender from which such Participant purchased its participation under clauses (i) through (v) of Section 8.2. 
 12.2.3. Benefit of Certain Provisions. The Borrowers agree that each Participant shall be deemed to have the right of setoff provided in Section 11.1 in respect of its participating interest
in amounts owing under the Loan Documents to the same extent as if the amount of its participating interest were owing directly to it as a Lender under the Loan Documents, provided that each Lender shall retain the right of setoff provided in
Section 11.1 with respect to the amount of participating interests sold to each Participant. The Lenders agree to share with each Participant, and each Participant, by exercising the right of setoff provided in Section 11.1, agrees to
share with each Lender, any amount received pursuant to the exercise of its right of setoff, such amounts to be shared in accordance with Section 11.2 as if each Participant were a Lender. The Borrowers further agree that each Participant shall
be entitled to the benefits of Sections 3.1, 3.2, 3.4, 3.5, 3.6, 9.6 and 9.10 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 12.3, provided that (i) a Participant shall not
be entitled to receive any greater payment under Section 3.1, 3.2, 3.5 or 3.6 than the Lender who sold the participating interest to such Participant would have received had it retained such interest for its own account, unless the sale of such
interest to such Participant is made with the prior written consent of the Company, and (ii) any Participant not incorporated under the laws of the United States of America or any State thereof agrees to comply with the provisions of
Section 3.5 to the same extent as if it were a Lender. 

  
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 12.3. Assignments. 

12.3.1. Permitted Assignments. Any Lender may at any time assign to one or more banks or other entities
(“Purchasers”) all or any part of its rights and obligations under the Loan Documents subject to the following conditions: 
  

	 	(i)	Each such assignment shall be of a constant and not varying ratable or non-pro rata percentage (as between the Term Loan Facility and the Revolving Facility) of the
assigning Lender’s rights and obligations under the Loan Documents; 

  

	 	(ii)	Such assignment shall be substantially in the form of Exhibit C or in such other form as may be agreed to by the parties thereto; 

 

	 	(iii)	Each such assignment with respect to a Purchaser which is not a Lender or an Affiliate of a Lender or an Approved Fund shall either be in an amount equal to the entire
applicable Revolving Loan Commitment and Outstanding Revolving Credit Exposure and/or Term Loan Commitment (if any) and Term Loans, as applicable, of the assigning Lender or (unless each of the Company and the Agent otherwise consents;
provided that the consent of the Company shall not be required if a Default has occurred and is continuing) be in an aggregate amount not less than $5,000,000. The amount of the assignment shall be based on the Revolving Loan Commitment or
Outstanding Revolving Credit Exposure (if the Revolving Loan Commitment has been terminated) and/or the outstanding Term Loan Commitment (if any) or Term Loans subject to the assignment, determined as of the date of such assignment or as of the
“Trade Date,” if the “Trade Date” is specified in the assignment; 

  

	 	(iv)	Except in the case of an assignment to an existing Lender that has advanced a Revolving Loan to each Dutch Borrower, the amount of such assignment with respect to a
borrowing made to a Dutch Borrower shall always be at least €50,000 (or its equivalent in another Agreed Currency) unless an assignment is made to any Person which qualifies as a professional market party (professionele markt partij)
under the Dutch Financial Supervision Act; 

  

	 	(v)	The Purchaser (A) if it is a Non-U.S. Lender, shall have delivered tax certificates described in Section 3.5, which indicate that such Non-U.S. Lender is
exempt from any withholding tax under the laws of the United States on payments by the Company in such jurisdiction, (B) in the case of an assignment of any Revolving Loan Commitment or Revolving Loan, shall have confirmed that it is exempt
from any withholding tax under the laws of the Netherlands on payments by Dutch Borrowers (unless the Company has confirmed in writing its intention not to add any Dutch Borrowers to this Agreement under Section 2.24.1, or, following the
addition of any Dutch Borrower under Such Section 2.24.1, all Dutch Borrowers have been removed from this Agreement pursuant to Section 2.24.2) and (C) in the case of an assignment of any Revolving Loan Commitment or Revolving Loan,
shall have provided to the Agent for the onward transmission to the relevant UK Borrower, in respect of Loans made to a UK Borrower, a tax certificate in the form set forth in the Exhibit G attached hereto (unless all UK Borrowers have been removed
from this Agreement pursuant to Section 2.24.2), except, in the case of clauses (A) and (B), to the extent the assigning Lender was entitled, at the time of the assignment, to receive additional amounts with respect to such withholding
taxes pursuant to Section 3.5; and 

  
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	 	(vi)	So long as no Default shall have occurred and be continuing, no such assignment shall be made to any Person that is not capable of lending (A) Agreed Currencies to
each Borrower and (B) each Type of Loan. 

 12.3.2. Consents. The consent of the
Company shall be required prior to an assignment becoming effective unless the Purchaser is a Lender, an Affiliate of a Lender or an Approved Fund, provided that (i) the Company shall be deemed to have consented to any such assignment
unless it shall object thereto by written notice to the Agent within five (5) Business Days after having received notice thereof, and (ii) the consent of the Company shall not be required if a Default has occurred and is continuing. The
consent of the Agent shall be required prior to an assignment becoming effective. The consent of JPMorgan in its capacity as LC Issuer shall be required for assignments of the Revolving Loan Commitment and Outstanding Revolving Credit Exposure (but
not Term Loans or any Term Loan Commitment) prior to an assignment becoming effective. Any consent required under this Section 12.3.2 shall not be unreasonably withheld. 

12.3.3. Effect; Effective Date. Upon (i) delivery to the Agent of an assignment, together with any consents
required by Sections 12.3.1 and 12.3.2, and (ii) payment of a $3,500 fee to the Agent for processing such assignment (unless such fee is waived by the Agent), such assignment shall become effective on the effective date specified in such
assignment. The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Revolving Loan Commitment and Outstanding Revolving Credit Exposure and/or Term Loan Commitment
(if any) and Term Loans under the applicable assignment agreement constitutes “plan assets” as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be “plan assets” under
ERISA. On and after the effective date of such assignment, such Purchaser shall for all purposes be a Lender party to this Agreement and any other Loan Document executed by or on behalf of the Lenders and shall have all the rights and obligations of
a Lender under the Loan Documents, to the same extent as if it were an original party thereto, and the transferor Lender shall be released with respect to the Revolving Loan Commitment and Outstanding Revolving Credit Exposure and/or Term Loan
Commitment (if any) and Term Loans assigned to such Purchaser without any further consent or action by the Borrowers, the Lenders or the Agent. In the case of an assignment covering all of the assigning Lender’s rights and obligations under
this Agreement, such Lender shall cease to be a Lender hereunder but shall continue to be entitled to the benefits of, and subject to, those provisions of this Agreement and the other Loan Documents which survive payment of the Obligations and
termination of the applicable agreement. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 12.3 shall be treated for purposes of this Agreement as a sale by such Lender
of a participation in such rights and obligations in accordance with Section 12.2. Upon the consummation of any assignment to a Purchaser pursuant to this Section 12.3.3, the transferor Lender, the Agent and the Borrowers shall, if the
transferor Lender or the Purchaser desires that its Loans be evidenced by Notes, make appropriate arrangements so that new Notes or, as appropriate, replacement Notes are issued to such transferor Lender and new Notes or, as appropriate, replacement
Notes, are issued to such Purchaser, in each case in principal amounts reflecting their respective Revolving Loan Commitments (or, if the Revolving Loan Commitments have terminated, the Revolving Loan Credit Exposure) or Term Loan Commitment (if
any) and Term Loans, as appropriate, as adjusted pursuant to such assignment. 

  
 106

 12.3.4. Register. The Agent, acting solely for this purpose as an
agent of the Borrowers, shall maintain at one of its offices in Chicago, Illinois a copy of each assignment agreement delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Revolving Loan Commitments
and Term Loan Commitments of, and principal amounts of (and interest on) the Loans owing to, each Lender, and participations of each Lender in Facility LCs, pursuant to the terms hereof from time to time (the “Register”). The
entries in the Register shall be conclusive, and the Borrowers, the Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement,
notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrowers at any reasonable time and from time to time upon reasonable prior notice. 

12.4. Dissemination of Information. Each Borrower authorizes each Lender to disclose to any Participant or Purchaser or any other
Person acquiring an interest in the Loan Documents by operation of law (each a “Transferee”) and any prospective Transferee any and all information in such Lender’s possession concerning the creditworthiness of such Borrower
and its Subsidiaries; provided that each Transferee and prospective Transferee agrees to be bound by Section 9.11 of this Agreement. 
 12.5. Tax Treatment. If any interest in any Loan Document is transferred to any Transferee which is not incorporated under the laws of the United States or any State thereof, the transferor Lender
shall cause such Transferee, concurrently with the effectiveness of such transfer, to comply with the provisions of Section 3.5.4. 
 ARTICLE XIII 
 NOTICES 

13.1. Notices; Electronic Communication. 
 (a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in paragraph (b) below), all notices and
other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopier as follows: 

 

	 	(i)	if to any Borrower or any other Loan Party, to: 

 Actuant Corporation 
 P.O. Box 3241 

Milwaukee, WI 53201-3241 
 Attn: Mr. Andrew G. Lampereur 
 Phone: (262) 373-7401 

Fax: (262) 373-7497 

  
 107

	 	(ii)	if to the Agent (except as set forth in clause (iii) below), to: 

 JPMorgan Chase Bank, N.A. 
 10 South Dearborn, 7th Floor 

Mail Code: IL1-0011 
 Chicago, IL 60603-2003 
 Attn: Leonida Mischke 

Phone: (312) 385-7055 
 Fax: (312) 385-7096 
  

	 	(iii)	if to the Agent in respect of a Borrowing Notice or Conversion/Continuation Notice for an Advance denominated in a Foreign Currency or to a Foreign Subsidiary Borrower,
to: 

 J.P. Morgan Europe Limited 
 125 London Wall 
 London EC2Y 5AJ 

Attn: Loan Agency 

Phone: 44 (0) 207 777 2940 
 Fax: 44 (0) 207 777 2360/2085 
 (with a copy to the Agent at the address
specified in clause (ii) above) 
  

	 	(iv)	if to JPMorgan in its capacity as LC Issuer, to: 

 JPMorgan Chase Bank, National Association 
 10 South Dearborn,
7th Floor 

Mail Code: IL1-0011 
 Chicago, IL 60603-2003 
 Attn: Phyllis Huggins 

Phone: (312) 732-2592 
 Fax: (312) 732-2729 
  

	 	(v)	if to any other Person in its capacity as LC Issuer, at the address specified by such Person to the Company and the Agent upon such Person becoming an LC Issuer
hereunder; and 

  

	 	(vi)	if to a Lender, to it at its address (or telecopier number) set forth in its administrative questionnaire furnished to the Agent. 

Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices
sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient).
Notices delivered through electronic communications to the extent provided in paragraph (b) below, shall be effective as provided in said paragraph (b). 
 (b) Electronic Communications. Notices and other communications to the Lenders and the LC Issuer hereunder may be delivered or furnished by electronic communication (including e-mail and internet
or intranet websites) pursuant to procedures approved by the Agent or as otherwise determined by the Agent, provided that the foregoing shall not apply to notices to any Lender or the LC Issuer pursuant to Article II if such Lender or the LC
Issuer, as applicable, has notified the Agent that it is incapable of receiving notices under such Article by electronic communication. The Agent or the Company may, in its respective discretion, agree to accept notices and other communications to
it hereunder by electronic communications pursuant to procedures approved by it or as it otherwise determines, provided that such determination or approval may be limited to particular notices or communications. 

  
 108

 Unless the Agent otherwise prescribes, (i) notices and other communications sent to an
e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgment),
provided that if such notice or other communication is not given during the normal business hours of the recipient, such notice or communication shall be deemed to have been given at the opening of business on the next Business Day for the
recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of
notification that such notice or communication is available and identifying the website address therefor. 
 (c)
Change of Address, Etc. Any party hereto may change its address or telecopier number for notices and other communications hereunder by notice to the other parties hereto, except that a Lender shall be required to give such notice only to the
Company and the Agent. 
 ARTICLE XIV 
 COUNTERPARTS; INTEGRATION; EFFECTIVENESS; ELECTRONIC EXECUTION 

14.1. Counterparts; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in different
counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Subject to the qualifications provided in Article IV, this Agreement shall become effective when it shall have been
executed by the Agent, and when the Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the parties hereto (including each Departing Lender), and thereafter shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement.

 14.2. Electronic Execution of Assignments. The words “execution,” “signed,” “signature,”
and words of like import in any assignment and assumption agreement shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a
manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, or any other
state laws based on the Uniform Electronic Transactions Act. 
 ARTICLE XV 

CHOICE OF LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL 

15.1. CHOICE OF LAW. THE LOAN DOCUMENTS (OTHER THAN THOSE CONTAINING A CONTRARY EXPRESS CHOICE OF LAW PROVISION) SHALL
BE CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (INCLUDING, WITHOUT LIMITATION, 735 ILCS SECTION 105/5-1 ET SEQ., BUT OTHERWISE WITHOUT REGARD TO THE CONFLICT OF LAWS PROVISIONS) OF THE STATE OF ILLINOIS, BUT GIVING EFFECT TO FEDERAL LAWS
APPLICABLE TO NATIONAL BANKS. 

  
 109

 15.2. CONSENT TO JURISDICTION. EACH BORROWER HEREBY IRREVOCABLY
SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF ANY UNITED STATES FEDERAL OR ILLINOIS STATE COURT SITTING IN CHICAGO, ILLINOIS IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS AND EACH BORROWER HEREBY IRREVOCABLY AGREES THAT
ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT
SUCH COURT IS AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE AGENT, THE LC ISSUER OR ANY LENDER TO BRING PROCEEDINGS AGAINST ANY BORROWER IN THE COURTS OF ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BY ANY BORROWER AGAINST
THE AGENT, THE LC ISSUER OR ANY LENDER OR ANY AFFILIATE OF THE AGENT, THE LC ISSUER OR ANY LENDER INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN DOCUMENT SHALL BE BROUGHT ONLY IN A
COURT IN CHICAGO, ILLINOIS. 
 15.3. WAIVER OF JURY TRIAL. EACH BORROWER, THE AGENT, THE LC ISSUER
AND EACH LENDER HEREBY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN DOCUMENT OR THE
RELATIONSHIP ESTABLISHED THEREUNDER. 
 15.4. AGENT FOR SERVICE OF PROCESS. EACH FOREIGN SUBSIDIARY
BORROWER HEREBY IRREVOCABLY APPOINTS THE COMPANY AS ITS AGENT FOR SERVICE OF PROCESS IN ANY PROCEEDING REFERRED TO IN SECTION 15.2 AND AGREES THAT SERVICE OF PROCESS IN ANY SUCH PROCEEDING MAY BE MADE BY MAILING OR DELIVERING A COPY THEREOF TO IT
CARE OF COMPANY AT ITS ADDRESS FOR NOTICES SET FORTH IN ARTICLE XIII OF THIS AGREEMENT. 
 ARTICLE XVI 

 GUARANTY 
 16.1. Company Guaranty. In order to induce the Lenders to extend credit to the Foreign Subsidiary Borrowers hereunder, and to induce the Lenders or their Affiliates to provide Banking Services to,
and enter into Rate Management Transactions with, Subsidiaries of the Company, the Company hereby irrevocably and unconditionally guarantees, as a primary obligor and not merely as a surety, the payment when and as due of (i) the Obligations of
such Foreign Subsidiary Borrowers and (ii) the Rate Management Obligations and Banking Services Obligations of any Subsidiary of the Company owing by such Subsidiaries to one or more Lenders or their respective Affiliates (the obligations
described in clauses (i) and (ii) being referred to collectively in this Article XVI as the “Guaranteed Subsidiary Obligations”). The Company further agrees that the due and punctual payment of any such Guaranteed
Subsidiary Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee hereunder notwithstanding any such extension or renewal of any such Guaranteed
Subsidiary Obligations. 

  
 110

 The Company waives presentment to, demand of payment from and protest to any Borrower or
Subsidiary of any of the Guaranteed Subsidiary Obligations, and also waives notice of acceptance of its obligations and notice of protest for nonpayment. This guaranty is absolute and unconditional, and the obligations of the Company hereunder shall
not be affected by (a) the failure of the Agent, the LC Issuer, any Lender or any Affiliate of a Lender to assert any claim or demand or to enforce any right or remedy against any Borrower under the provisions of this Agreement, any other Loan
Document, any instrument, document or agreement evidencing Banking Services Obligations or Rate Management Obligations, or otherwise; (b) any extension or renewal of any of the Guaranteed Subsidiary Obligations; (c) any rescission, waiver,
amendment or modification of, or release from, any of the terms or provisions of this Agreement, any other Loan Document, any instrument, document or agreement evidencing Banking Services Obligations or Rate Management Obligations or any other
instrument, document or agreement; (d) any default, failure or delay, willful or otherwise, in the performance of any of the Guaranteed Subsidiary Obligations; or (e) any other act (other than payment of the Guaranteed Subsidiary
Obligations), omission or delay to do any other act which may or might in any manner or to any extent vary the risk of the Company or otherwise operate as a discharge of a guarantor as a matter of law or equity or which would impair or eliminate any
right of the Company to subrogation. 
 The Company further agrees that its agreement hereunder constitutes a guarantee of
payment when due (whether or not any bankruptcy or similar proceeding shall have stayed the accrual or collection of any of the Guaranteed Subsidiary Obligations or operated as a discharge thereof) and not merely of collection, and waives any right
to require that any resort be had by the Agent, the LC Issuer, any Lender or any Affiliate of a Lender to any balance of any deposit account or credit on the books of the Agent, the LC Issuer, any Lender or any Affiliate of a Lender in favor of any
Borrower or any other Person. 
 The obligations of the Company hereunder shall not be subject to any reduction, limitation,
impairment or termination for any reason (other than payment of the Guaranteed Subsidiary Obligations), and shall not be subject to any defense or set-off, counterclaim, recoupment or termination whatsoever, by reason of the invalidity, illegality
or unenforceability of any of the Guaranteed Subsidiary Obligations, any impossibility in the performance of any of the Guaranteed Subsidiary Obligations or otherwise. 
 The Company further agrees that its obligations hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Guaranteed Subsidiary
Obligation is rescinded or must otherwise be restored by the Agent, the LC Issuer, any Lender or any Affiliate of a Lender upon the bankruptcy or reorganization of any Borrower, any other Subsidiary or otherwise. 

In furtherance of the foregoing and not in limitation of any other right which the Agent, the LC Issuer, any Lender or any Affiliate of a
Lender may have at law or in equity against the Company by virtue hereof, upon the failure of any Foreign Subsidiary Borrower or any Subsidiary to pay any Guaranteed Subsidiary Obligation when and as the same shall become due, whether at maturity,
by acceleration, after notice of prepayment or otherwise, the Company hereby promises to and will, upon receipt of written demand by the Agent, forthwith pay, or cause to be paid, to the Agent, in cash an amount equal to the unpaid principal amount
of such Guaranteed Subsidiary Obligations then due, together with accrued and unpaid interest thereon. The Company further agrees that if payment in respect of any Guaranteed Subsidiary Obligation shall be due in a currency other than Dollars and/or
at a place of payment other than at the address of the Agent specified in Article XIII and if, by reason of any adoption of, or change in, any law or regulation, disruption of currency or foreign exchange markets, war or civil disturbance or other
event, payment of such Guaranteed Subsidiary Obligation in such currency or at such place of payment shall be impossible or, in the reasonable judgment of the Agent, disadvantageous to the Agent, the LC Issuer, any Lender or any Affiliate of a
Lender, in any material respect, then, at the election of the Agent, the Company shall make payment of such Guaranteed Subsidiary Obligation in Dollars (based upon the applicable Exchange Rate in effect on the date of payment) and/or at the address
of the Agent specified in Article XIII, and, as a separate and independent obligation, shall indemnify the Agent, the LC Issuer and each Lender (or its Affiliate) against any losses or reasonable out-of-pocket expenses that it shall sustain as a
result of such alternative payment. 

  
 111

 Upon payment by the Company of any sums as provided above, all rights of the Company against
any Foreign Subsidiary Borrower or any Subsidiary arising as a result thereof by way of right of subrogation or otherwise shall in all respects be subordinated and junior in right of payment to the prior indefeasible payment in full in cash of all
the Obligations and the termination of this Agreement in accordance with Section 2.7(c). 
 Nothing shall discharge or
satisfy the liability of the Company hereunder except the full performance and payment of the Obligations in accordance with Section 2.7(c). 
 16.2. Foreign Subsidiary Borrower Guaranty. On the date a Foreign Subsidiary becomes a Foreign Subsidiary Borrower hereunder, whether on the Closing Date or pursuant to Section 2.24.,
(i) such Foreign Subsidiary shall, to the extent permitted by applicable law, execute and deliver in favor of the Agent, for the benefit of the Lenders, a guaranty of payment of the Obligations of each other Foreign Subsidiary Borrower and
(ii) each other Borrower shall, to the extent permitted by applicable law, execute and deliver a guaranty (or, as applicable, a reaffirmation of guaranty) of payment of the Obligations of such Foreign Subsidiary Borrower, in each case, in form
and substance reasonably satisfactory to the Agent, together with such supporting documentation, including authorizing resolutions and/or opinions of counsel, as the Agent may reasonably request. Notwithstanding the foregoing, no Dutch Borrower
shall be liable under such Guaranty to the extent that, if it were so liable, its entry into such Guaranty would violate sections 2:98c or 2:207 of the Dutch Civil Code (Burgerlijk Wetboek). 

16.3. Limitation on Obligations of Foreign Subsidiary Borrowers. Notwithstanding anything contained in this Agreement to the
contrary, no Foreign Subsidiary Borrower shall be liable hereunder for any of the Loans made to, or any other Obligation incurred solely by or on behalf of, the Company or any other Loan Party which is a Domestic Subsidiary. 

  
 112

 IN WITNESS WHEREOF, the Company, the Borrowers, the Lenders, the LC Issuer and the Agent
have executed this Agreement as of the date first above written. 
  

			
	ACTUANT CORPORATION,
	as the Company and as a Borrower
		
	By:	 	 /s/ Terry M. Braatz

	Name:	 	Terry M. Braatz
	Title:	 	Treasurer

 Signature Page to

 Third Amended and Restated Credit Agreement 

  
 113

 
			
	ACTUANT LIMITED,
	as a Borrower
		
	By:	 	 /s/ Phil Maxted

	Name:	 	Phil Maxted
	Title:	 	Director
	
	 ACTUANT FINANCE LIMITED,
 as a Borrower

		
	By:	 	 /s/ Phil Maxted

	Name:	 	Phil Maxted
	Title:	 	Director

 Signature Page to

 Third Amended and Restated Credit Agreement 

  
 114

 
			
	JPMORGAN CHASE BANK, N.A.,
	as a Lender, as LC Issuer and as Agent
		
	By:	 	 /s/ Richard Barritt

	Name:	 	Richard Barritt
	Title:	 	Associate

 Signature Page to

 Third Amended and Restated Credit Agreement 

  
 115

 
			
	BANK OF AMERICA, N.A.,
	as a Syndication Agent and as Lender
		
	By:	 	 /s/ Brian Lukehart

	Name:	 	Brian Lukehart
	Title:	 	Vice President

 Signature Page to

 Third Amended and Restated Credit Agreement 

  
 116

 
			
	WELLS FARGO BANK, N.A.,
	as a Syndication Agent and as Lender
		
	By:	 	 /s/ Daniel R. Van Aken

	Name:	 	Daniel R. Van Aken
	Title:	 	Director

 Signature Page to

 Third Amended and Restated Credit Agreement 

  
 117

 
			
	U.S. BANK NATIONAL ASSOCIATION,
	as a Syndication Agent and as Lender
		
	By:	 	 /s/ Caroline V. Krider

	Name:	 	Caroline V. Krider
	Title:	 	Senior Vice President and Lender

Signature Page to 
 Third Amended and Restated Credit Agreement 

  
 118

 
			
	KEYBANK NATIONAL ASSOCIATION,
	as a Documentation Agent and as Lender
		
	By:	 	
/s/ Brian P. Fox            

	Name:	 	Brian P. Fox
	Title:	 	Vice President

 Signature Page
to 
 Third Amended and Restated Credit Agreement 

  
 119

 
			
	PNC BANK, NATIONAL ASSOCIATION,
	as a Lender
		
	By:	 	
/s/ Michael Leong            

	Name:	 	Michael Leong
	Title:	 	Senior Vice President

 Signature Page
to 
 Third Amended and Restated Credit Agreement 

  
 120

 
			
	SUNTRUST BANK, N.A.,
	as a Lender
		
	By:	 	 /s/ Baerbel Freudenthaler

	Name:	 	Baerbel Freudenthaler
	Title:	 	Director

 Signature Page to

 Third Amended and Restated Credit Agreement 

  
 121

 
			
	MIZUHO CORPORATE BANK, LTD,
	as a Lender
		
	By:	 	 /s/ David Lim

	Name:	 	David Lim
	Title:	 	Authorized Signatory

 Signature
Page to 
 Third Amended and Restated Credit Agreement 

  
 122

 
			
	M&I MARSHALL & ILSLEY BANK,
	as a Lender
		
	By:	 	 /s/ Ronald J. Carey

	Name:	 	Ronald J. Carey
	Title:	 	Vice President
		
	By:	 	 /s/ James R. Miller

	Name:	 	James R. Miller
	Title:	 	Senior Vice President

 Signature
Page to 
 Third Amended and Restated Credit Agreement 

  
 123

 
			
	RBS CITIZENS, N.A.,
	as a Lender
		
	By:	 	 /s/ Brett Miller

	Name:	 	Brett Miller
	Title:	 	Vice President

 Signature Page to

 Third Amended and Restated Credit Agreement 

  
 124

 
			
	 ROYAL BANK OF CANADA,
 as a Lender

		
	By:	 	 /s/ James F.
Disher            

	Name:	 	James F. Disher
	Title:	 	Authorized Signatory

 Signature
Page to 
 Third Amended and Restated Credit Agreement 

  
 125

 
			
	 ASSOCIATED BANK, N.A.,
 as a Lender

		
	By:	 	 /s/ Daniel Holzhauer

	Name:	 	Daniel Holzhauer
	Title:	 	Vice President – Senior Lender

Signature Page to 
 Third Amended and Restated Credit Agreement 

  
 126

 
			
	 THE NORTHERN TRUST COMPANY,
 as a Lender

		
	By:	 	 /s/ James
Shanel            

	Name:	 	James Shanel
	Title:	 	Vice President

 Signature Page to

 Third Amended and Restated Credit Agreement 

  
 127

 
			
	CREDIT INDUSTRIEL ET COMMERCIAL,
	as a Lender
		
	By:	 	 /s/ Brian
O’Leary            

	Name:	 	Brian O’Leary
	Title:	 	Managing Director
		
	By:	 	 /s/ Anthony
Rock            

	Name:	 	Anthony Rock
	Title:	 	Managing Director

 Signature Page
to 
 Third Amended and Restated Credit Agreement 

  
 128

 
			
	BANK OF MONTREAL,
	as a Lender
		
	By:	 	 /s/ Michael M. Fordney

	Name:	 	Michael M. Fordney
	Title:	 	Director

 Signature Page to

 Third Amended and Restated Credit Agreement 

  
 129

 
			
	RBC BANK (USA),
	as a Lender
		
	By:	 	 /s/ Richard Marshall

	Name:	 	Richard Marshall
	Title:	 	Market Executive – National Division

Signature Page to 
 Third Amended and Restated Credit Agreement 

  
 130

 
			
	The undersigned Departing Lender hereby
acknowledges and agrees that, from and after the
Closing Date, it is not longer a party to the Existing
Credit
Agreement.
	
	THE PRIVATEBANK AND TRUST COMPANY
		
	By:	 	 /s/ James A. Meyer

	Name:	 	James A. Meyer
	Title:	 	Managing Director

 Signature Page to

 Third Amended and Restated Credit Agreement 

  
 131

 
			
	The undersigned Departing Lender hereby acknowledges and agrees that, from and after the Closing Date, it is not longer a party to the Existing Credit
Agreement.
	
	UBS AG, STAMFORD BRANCH
		
	By:	 	 /s/ Mary E. Evans

	Name:	 	Mary E. Evans
	Title:	 	Associate Director
		
	By:	 	 /s/ Irja R. Otsa

	Name:	 	Irja R. Otsa
	Title:	 	Associate Director

 Signature Page
to 
 Third Amended and Restated Credit Agreement 

  
 132

 EXHIBIT A 
 FORM OF OPINIONS OF LOAN PARTIES’ COUNSEL 
 On file with Agent.

  
 133

 EXHIBIT B 
 COMPLIANCE CERTIFICATE 
 Dated as of
[                    ] 
  

	To:	The Lenders party to the 

 Credit
Agreement Described Below 
 This Compliance Certificate is furnished pursuant to that certain Third Amended and Restated Credit
Agreement dated as of February 23, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) among Actuant Corporation, a Wisconsin corporation (the “Company”), the Foreign
Subsidiary Borrowers party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as Agent for the Lenders and as LC Issuer. Unless otherwise defined herein, capitalized terms used in this Compliance Certificate have the meanings ascribed
thereto in the Credit Agreement. 
 THE UNDERSIGNED HEREBY CERTIFIES THAT: 

1. I am the duly elected [Chief Financial Officer] [Treasurer] [Controller] [principal accounting officer] of the Company; 

2. I have reviewed the terms of the Credit Agreement and I have made, or have caused to be made under my supervision, a detailed review
of the transactions and conditions of the Company and its Subsidiaries during the accounting period covered by the attached financial statements (the fiscal quarter ended on the last day of the accounting period covered by the attached financial
statements is referred to below as the “Fiscal Quarter”); 
 3. The examinations described in paragraph 2 did not
disclose, and I have no knowledge of, the existence of any condition or event which constitutes a Default or Unmatured Default during or at the end of the accounting period covered by the attached financial statements or as of the date of this
Certificate, except as set forth below; 
 4. Schedule I [and Schedule II] attached hereto set[s] forth financial data and
computations evidencing the Company’s compliance with certain covenants of the Credit Agreement, all of which data and computations are true, complete and correct; and 
 5. Annex A attached hereto sets forth the various reports and deliveries which are required at this time under the Credit Agreement and the other Loan Documents and the status of compliance (including,
without limitation, any updates to the Exhibits to the Security Agreement as required by Section 4.12 thereof). 

  
 EXH. B-1

 Described below are the exceptions, if any, to paragraph 3 by listing, in detail, the nature
of the condition or event, the period during which it has existed and the action which the Company has taken, is taking, or proposes to take with respect to each such condition or event: 

	
	  

	
	  

	
	  

 The foregoing certifications, together with the computations set forth in Schedule I [and Schedule II] hereto and the financial statements delivered with this Compliance Certificate in support hereof, are
made and delivered this      day of             , 20    . 

 

			
	ACTUANT CORPORATION
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 EXH. B-2

 SCHEDULE I TO COMPLIANCE CERTIFICATE 

 

					
	Consolidated Net Income	  			
		
	+/–        consolidated net after tax income (or loss) of the Company and its consolidated Subsidiaries (other than positive net
income of any Subsidiary to the extent that the declaration or payment of dividends or similar distributions is not permitted of such Subsidiary as of the date of calculation)	  	 	$                    	  
		
	+            any non-cash charges associated with the sale or discontinuance of assets, businesses or product
lines	  	 	+                    	  
		
	+            the cumulative effect of accounting changes	  	 	+                    	  
		
	=            Consolidated Net Income	  	 	$                    	  
		
	 Consolidated EBITDA
	  			
		
	+/–        Consolidated Net Income (Loss)	  	 	$                    	  
		
	+            Consolidated Interest Expense	  	 	+                    	  
		
	+            provisions for taxes based on income	  	 	+                    	  
		
	+            total depreciation expense	  	 	+                    	  
		
	+            total amortization expense	  	 	+                    	  
		
	+            unrealized non-cash Net Mark-to-Market Exposure under Rate Management Transactions	  	 	+                    	  
		
	+            restructuring charges in an aggregate amount not to exceed $30,000,000 during any four fiscal quarter
period	  	 	+                    	  
		
	+            non-cash impairment and long-term incentive plan charges	  	 	+                    	  
		
	+/–        adjustments for extraordinary gains or losses or gains or losses from sales of assets other than inventory sold in the
ordinary course of business	  	 	+/–                	  
		
	+            noncash charges attributable to (a) the expensing of stock options and (b) the write-off of
deferred financing fees and any premium actually paid in connection with Specified Financing Transactions	  	 	+                    	  
		
	Consolidated EBITDA	  	 	=                    	  

  
 EXH. B-3

	A.	LEVERAGE RATIO (Section 6.19.1) 

 Calculate the Leverage Ratio for the four-fiscal quarter period ended on the last day of the Fiscal Quarter, by dividing Consolidated Indebtedness by Consolidated EBITDA. If a Permitted Acquisition or
Asset Sale has occurred during the applicable four-quarter period, calculate the Leverage Ratio on a pro forma basis reasonably acceptable to the Agent (describe in reasonable detail on Schedule II hereto pro forma
adjustments for Permitted Acquisitions and Asset Sales, if any, during such four-quarter period). 
 Net Consolidated
Indebtedness may be used instead of Consolidated Indebtedness to calculate the Leverage Ratio if each of the following conditions are satisfied: (1) the Company did not use Net Consolidated Indebtedness instead of Consolidated Indebtedness to
calculate the Leverage Ratio at the end of the immediately preceding Fiscal Quarter, (2) the current Fiscal Quarter is not a Holiday Quarter, and (3) there were no Loans outstanding (other than Term Loans) under the Credit Agreement as of
the calculation date of this Compliance Certificate. 
  

			
	Consolidated Indebtedness as of the last day of the Fiscal Quarter	 	$                    
		
	Consolidated EBITDA	 	$                    
		
	(a) Actual Leverage Ratio for Fiscal Quarter	 	         to 1.0
		
	(b) Maximum permitted Leverage Ratio for Fiscal Quarter	 	 [[3.75 to 1.0] [4.25 to 1.0 due to Specified
Acquisition completed on             , 20    ]1]2
  

[[3.50 to 1.0] [4.0 to 1.0 due to Specified
Acquisition completed on             , 20    ]3]4

  
 EXH. B-4

  

	1	 The Leverage Ratio may be up to 4.25 to 1.0 for any fiscal quarter during which the Company or any of its Subsidiaries has entered into a Specified
Acquisition (the “Trigger Quarter”) and for the next succeeding fiscal quarter (or, if such Specified Acquisition occurred after the forty-fifth (45th) day of such Trigger Quarter, the next two succeeding fiscal quarters). Following
the occurrence of a Trigger Quarter, no subsequent Trigger Quarter shall be permitted to occur under Section 6.19.1 unless and until the Leverage Ratio is less than or equal to 3.75 to 1.00 as of the end of a least one fiscal quarter following
the applicable Specified Acquisition. 

	2	 Use this test prior to the date on which Liens on the Collateral are released as described in Section 6.21(f)(i)(ii).

	3	 The Leverage Ratio may be up to 4.00 to 1.0 for any fiscal quarter during which the Company or any of its Subsidiaries has entered into a Specified
Acquisition (the “Trigger Quarter”) and for the next succeeding fiscal quarter (or, if such Specified Acquisition occurred after the forty-fifth (45th) day of such Trigger Quarter, the next two succeeding fiscal quarters). Following
the occurrence of a Trigger Quarter, no subsequent Trigger Quarter shall be permitted to occur under Section 6.19.1 unless and until the Leverage Ratio is less than or equal to 3.50 to 1.00 as of the end of a least one fiscal quarter following
the applicable Specified Acquisition. 

	4	 Use this test from and after the date on which Liens on the Collateral are released as described in Section 6.21(f)(i)(ii).

  
 EXH. B-5

	B.	FIXED CHARGE COVERAGE RATIO (Section 6.19.2) 

 Calculate the Fixed Charge Coverage Ratio for the four-fiscal quarter period ended on the last day of the Fiscal Quarter, as follows: 

 

					
	            Consolidated EBITDA
	  	 	$                    	  
		
	 –         Consolidated Capital Expenditures
	  	 	–                    	  
		
	 +         Consolidated Rentals
	  	 	+                    	  
		
	 =         Numerator
	  	 	=                    	  
		
	            Consolidated Interest Expense
	  	 	$                    	  
		
	 –         Non-cash Interest Expense
	  	 	–                    	  
		
	 +         Consolidated Rentals
	  	 	+                    	  
		
	 +         expense for taxes paid or accrued
	  	 	+                    	  
		
	 +         cash dividends paid by the Company during such period
	  	 	+                    	  
		
	 =         Denominator
	  	 	=                    	  
		
	 (a) Actual Fixed Charge Coverage Ratio for Fiscal Quarter (Numerator/Denominator)
	  	 	         to 1.0	  
		
	 (b) Minimum Permitted Fixed Charge Coverage Ratio
	  	 	1.50 to 1.0	  

  
 EXH. B-6

	C.	MATERIAL DOMESTIC SUBSIDIARY AND MATERIAL FOREIGN SUBSIDIARY CLASSIFICATION (DEFINITIONS, SECTION 6.21(a), (b)) 

 

					
	1.	 	10.0% of the Consolidated Assets of the Company and its Subsidiaries as of the last day of the Fiscal
Quarter	 	$                    
			
	 2.      
	 	10.0% of the Consolidated Operating Income of the Company and its Subsidiaries for the Fiscal Quarter	 	$                    

 

	 	3.	Material Domestic Subsidiaries 

(a) Identify on Exhibit A hereto each Domestic Subsidiary of the Company (i) that directly holds any Equity Interest in
any Material Foreign Subsidiary as of the end of the Fiscal Quarter, (ii) directly or indirectly holds any Equity Interest in a Foreign Subsidiary Borrower or (iii) on a consolidated basis with its Subsidiaries, (A) had assets as of
the last day of the Fiscal Quarter (other than Equity Interests in Material Foreign Subsidiaries) that exceeded the amount set forth in Item C.1 or (B) was responsible for a portion of the Consolidated Operating Income of the Company and its
Subsidiaries for the Fiscal Quarter in excess of the amount set forth in Item C.2 (excluding, with respect to any of the foregoing clauses (i), (ii) and (iii), any Domestic Subsidiary that is a special purpose Subsidiary
created to engage solely in a Qualified Receivables Transaction) and (b) indicate on Exhibit A hereto whether each such Domestic Subsidiary is a Domestic Subsidiary Guarantor. 

 

	 	4.	Material Foreign Subsidiaries 

(a) Identify on Exhibit A hereto each Foreign Subsidiary of the Company any Equity Interest of which are held by the Company
or any Domestic Subsidiary and that, on a consolidated basis with its Subsidiaries, (i) had assets as of the last day of the Fiscal Quarter that exceeded the amount set forth Item C.1 or (ii) was responsible for a portion of the
Consolidated Operating Income of the Company and its Subsidiaries for the Fiscal Quarter in excess of the amount set forth in Item C.2 and (b) indicate on Exhibit A hereto whether any Equity Interests in any such Foreign Subsidiary have
not been pledged to the Agent as and to the extent required pursuant to Section 6.21(b). 

  
 EXH. B-7

	D.	ADDITIONAL GUARANTORS AND PLEDGED FOREIGN SUBSIDIARIES (SECTION 6.21(c)) 

 

					
	(i)	  	85% of Company and Domestic Subsidiaries.	  	 
			
	1.	  	85.0% of the aggregate assets of the Company and its Domestic Subsidiaries (other than Equity Interests in Subsidiaries) as of the last day of the Fiscal Quarter	  	$            
			
	2.	  	The aggregate assets (other than Equity Interests in Subsidiaries) of the Company and the Domestic Subsidiary Guarantors as of the last day of the Fiscal Quarter	  	$            
			
	3.	  	Does Item D.i.2 exceed Item D.i.1?	  	Yes/No
			
	4.	  	85.0% of the aggregate operating income of the Company and its Domestic Subsidiaries for the Fiscal Quarter	  	$            
			
	5.	  	The operating income of the Company and the Domestic Subsidiary Guarantors for the Fiscal Quarter	  	$            
			
	6.	  	Does Item D.i.5 exceed Item D.i.4?	  	Yes/No
			
	(ii)	  	50% of Foreign Subsidiaries.	  	
			
	1.	  	50.0% of the aggregate assets of the Foreign Subsidiaries of the Company as of the last day of the Fiscal Quarter	  	$            
			
	2.	  	The aggregate assets of the Company’s Material Foreign Subsidiaries and other Foreign Subsidiaries (on a consolidated basis with their respective Subsidiaries) as of the
last day of the Fiscal Quarter of which the Applicable Pledge Percentage of the Voting Equity Interests have been pledged under a Foreign Law Pledge Agreement (each, a “Pledged Foreign Subsidiary”)	  	$            
			
	3.	  	Does Item D.ii.2 exceed Item D.ii.1?	  	Yes/No
			
	4.	  	50.0% of the aggregate operating income of the Foreign Subsidiaries of the Company for the Fiscal Quarter	  	$            
			
	5.	  	The aggregate operating income of the Pledged Foreign Subsidiaries for the Fiscal Quarter	  	$            
			
	6.	  	Does Item D.ii.5 exceed Item D.ii.4?	  	Yes/No
			
	(iii)	  	75% of Company and its Consolidated Subsidiaries.	  	
			
	1.	  	75.0% of the Consolidated Assets of the Company and its Subsidiaries as of the last day of the Fiscal Quarter	  	$            

  
 EXH. B-8

					
	2.	  	The aggregate assets, as of the last day of the Fiscal Quarter, of the Company, the Domestic
Subsidiary Guarantors (in the case of the Company and such Guarantors, excluding
Equity Interests
in Subsidiaries) and all Pledged Foreign Subsidiaries (in the case of such Foreign Subsidiaries, on a
consolidated basis with their respective Subsidiaries)	  	$            
			
	3.	  	Does Item D.iii.2 exceed Item D.iii.1?	  	Yes/No
			
	4.	  	75.0% of the Consolidated Operating Income of the Company and its Subsidiaries for the Fiscal Quarter	  	$            
			
	5.	  	The aggregate operating income of the Company, the Domestic Subsidiary Guarantors and all Pledged Foreign Subsidiaries (in the case of such Foreign Subsidiaries, on a
consolidated basis with their respective Subsidiaries)	  	$            
			
	6.	  	Does Item D.iii.5 exceed Item D.iii.4?	  	Yes/No
			
	(iv)	  	Additional Guarantors and Pledged Subsidiaries.	  	
		
	1.	  	If the answer indicated in either of Item D.i.3, D.i.6, D.ii.3, D.ii.6, D.iii.3 or D.iii.6 is “No”, indicate on Exhibit B hereto additional Domestic
Subsidiaries that shall become Domestic Subsidiary Guarantors in accordance with Section 6.21(a) or 6.21(c) and/or additional Foreign Subsidiaries the Equity Interests of which shall be pledged in accordance with
Section 6.21(b) or 6.21(c), in each case such that, after giving effect to such additional Guarantors and Collateral (and the compliance of any additional Domestic Subsidiaries with the terms of Sections 6.21(a) and the
pledge of Equity Interests of any additional Foreign Subsidiaries pursuant to Section 6.21(b)), the calculations set forth in this Section D would result in the answers set forth in such Items being “Yes”.
		
	2.	  	Provide on Exhibit B hereto detailed calculations demonstrating, as applicable, either (i) that the answer indicated in both Items D.i.3, D.i.6, D.ii.3,
D.ii.6, D.iii.3 and D.iii.6 is “Yes” or (ii) compliance with the foregoing Item D.iv.1.

  
 EXH. B-9

 EXHIBIT A 
 TO 
 SCHEDULE 1 of COMPLIANCE CERTIFICATE 

Material Domestic Subsidiaries 
  

									
		  	Material Domestic Subsidiaries	  		  	Guarantor (Y/N)	  	
		  	  
	  		  	  
	  	
		  	  
	  		  	  
	  	
		  	  
	  		  	  
	  	
		  	  
	  		  	  
	  	

 Material Foreign Subsidiaries 

 

									
		  	Material Foreign Subsidiary	  		  	Equity Interests Pledged (Y/N)	  	
		  	  
	  		  	  
	  	
		  	  
	  		  	  
	  	
		  	  
	  		  	  
	  	
		  	  
	  		  	  
	  	

  
 EXH. B-10

 EXHIBIT B 
 TO 
 SCHEDULE 1 of COMPLIANCE CERTIFICATE 

[Additional Guarantors] 
 [Additional Pledged Foreign Subsidiaries] 
 Calculations of Compliance
with Section 6.21(c) 

  
 EXH. B-11

 SCHEDULE II TO COMPLIANCE CERTIFICATE 

[Add detail as applicable] 

  
 EXH. B-12

 ANNEX A TO COMPLIANCE CERTIFICATE 

Reports and Deliveries Currently Due 

  
 EXH. B-13

 EXHIBIT C 
 ASSIGNMENT AND ASSUMPTION AGREEMENT 
 This Assignment and Assumption (the
“Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the
“Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby
acknowledged by the Assignee. The Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably
purchases and assumes from the Assignor, subject to and in accordance with the Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Agent as contemplated below, the interest in and to all of the Assignor’s
rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto that represents the amount and percentage interest identified below of all of the Assignor’s
outstanding rights and obligations under the respective facilities identified below (including without limitation any letters of credit, guaranties and swingline loans included in such facilities and, to the extent permitted to be assigned under
applicable law, all claims (including without limitation contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity), suits, causes of action and any other right of the Assignor against any Person
whether known or unknown arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby) (the “Assigned Interest”). Such sale
and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 
 1. Assignor:
                                 

2. Assignee:
                                , [an Affiliate/Approved Fund of [identify
Lender]]5 

3. Company: Actuant Corporation, a Wisconsin corporation 
 4. Agent: JPMorgan Chase Bank, N.A., as the Agent under the Credit Agreement 
 5. Credit
Agreement: Third Amended and Restated Credit Agreement dated as of February 23, 2011 among Actuant Corporation, a Wisconsin corporation, the Foreign Subsidiary Borrowers party thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A.,
as Agent. 
  
  

	5	 Select as applicable 

  
 147

 6. Assigned Interest: 
  

							
	 Facility Assigned
 (Revolving/Term)
	  	Aggregate Amount of
Commitment/Loans
for all Lenders*	  	Amount 
of
Commitment/Loans
Assigned*	  	Percentage Assigned
of
Commitment/
Loans6
		  	$	  	$	  	        %
		  	$	  	$	  	        %
		  	$	  	$	  	        %

 7. Trade Date:
                                         
           7 
 Effective Date:
            , 20     [TO BE INSERTED BY AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER BY THE AGENT.] 

The terms set forth in this Assignment and Assumption are hereby agreed to 

 

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	 By:
	 	  

		 	        Title:

 

			
	ASSIGNEE
	[NAME OF ASSIGNEE]
		
	 By:
	 	  

		 	        Title:

 Consented to and Accepted: 
  

			
	 JPMORGAN CHASE BANK, N.A., as Agent

[and as LC Issuer] 8

		
	 By:
	 	  

	 Title:

 

	*	Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the [Trade Date] and the Effective Date.

	6	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

	7	 Insert if satisfaction of minimum amounts is to be determined as of the [Trade Date]. 

	8	 To be added only if the consent of the LC Issuer is required by the terms of the Credit Agreement. 

  
 EXH. C-2

 ANNEX 1 
 TERMS AND CONDITIONS FOR 
 ASSIGNMENT AND ASSUMPTION 

1. Representations and Warranties. 
 1.1 Assignor. The Assignor represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien,
encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby. Neither the Assignor
nor any of its officers, directors, employees, agents or attorneys shall be responsible for (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the
execution, legality, validity, enforceability, genuineness, sufficiency, perfection, priority, collectibility, or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Company, any of its Subsidiaries or
Affiliates or any other Person obligated in respect of any Loan Document, (iv) the performance or observance by the Company, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan
Documents, (v) inspecting any of the property, books or records of the Company, any other Borrower or any guarantor, or (vi) any mistake, error of judgment, or action taken or omitted to be taken in connection with the Loans or the Loan
Documents. 
 1.2. Assignee. The Assignee (a) represents and warrants and agrees that (i) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) from and after the Effective
Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iii) its payment instructions and notice instructions are
as set forth in Schedule 1 to this Assignment and Assumption, (iv) none of the funds, monies, assets or other consideration being used to make the purchase and assumption hereunder are “plan assets” as defined under ERISA and that its
rights, benefits and interests in and under the Loan Documents will not be “plan assets” under ERISA, (v) it shall indemnify and hold the Assignor harmless against all losses, costs and expenses (including, without limitation,
reasonable attorneys’ fees) and liabilities incurred by the Assignor in connection with or arising in any manner from the Assignee’s non-performance of the obligations assumed under this Assignment and Assumption, (vi) it has received
a copy of the Credit Agreement, together with copies of financial statements and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to
purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Agent or any other Lender, and (vii) attached as Schedule 1 to this Assignment and Assumption is any
documentation required to be delivered by the Assignee with respect to its tax status pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee (including, in the case of any assignment of a Revolving Loan Commitment
or Revolving Loans, a duly completed tax certificate in the form of Exhibit G to the Credit Agreement (Form of UK Tax Certificate)) and (b) agrees that (i) it will, independently and without reliance on the Agent, the
Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in
accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

  
 EXH. C-3

 2. Payments. The Assignee shall pay the Assignor, on the Effective Date, the amount
agreed to by the Assignor and the Assignee. From and after the Effective Date, the Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, Reimbursement Obligations, fees and other amounts) to
the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date. 
 3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and
Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a
manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of Illinois. 

  
 EXH. C-4

 EXHIBIT D-1 
 FORM OF INCREASING LENDER SUPPLEMENT 
 INCREASING LENDER SUPPLEMENT, dated
                , 20     (this “Supplement”), by and among each of the signatories hereto, to the Third Amended and
Restated Credit Agreement, dated as of February 23, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Actuant Corporation, a Wisconsin corporation (the
“Company”), the Foreign Subsidiary Borrowers party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as Agent for the Lenders and as LC Issuer. 
 W I T N E S S E T H 
 WHEREAS, pursuant to Section 2.5(c) of the
Credit Agreement, the Company has the right, subject to the terms and conditions thereof, to effectuate from time to time an increase in the Aggregate Revolving Loan Commitment and/or one or more tranches of Incremental Term Loans under the Credit
Agreement by requesting one or more existing Lenders to increase the amount of its Revolving Loan Commitment and/or to participate in such a tranche; 
 WHEREAS, the Company has given notice to the Agent of its intention to [increase the Aggregate Revolving Loan Commitment] [and] [enter into a tranche of Incremental Term Loans] pursuant to such
Section 2.5(c); and 
 WHEREAS, pursuant to Section 2.5(c) of the Credit Agreement, the undersigned
Increasing Lender now desires to [increase the amount of its Revolving Loan Commitment] [and] [participate in a tranche of Incremental Term Loans] under the Credit Agreement by executing and delivering to the Company and the Agent this Supplement;

 NOW, THEREFORE, each of the parties hereto hereby agrees as follows: 

1. The undersigned Increasing Lender agrees, subject to the terms and conditions of the Credit Agreement, that on the date of this
Supplement it shall [have its Revolving Loan Commitment increased by $[                ], thereby making the aggregate amount of its total Revolving Loan
Commitments equal to $[                ]] [and] [participate in a tranche of Incremental Term Loans with a commitment amount equal to
$[                ] with respect thereto]. 
 2. The Company hereby represents and warrants that no Default or Unmatured Default has occurred and is continuing on and as of the date hereof. 

3. Terms defined in the Credit Agreement shall have their defined meanings when used herein. 

4. This Supplement shall be governed by, and construed in accordance with, the laws of the State of Illinois. 

  
 EXH. D-2-1

 5. This Supplement may be executed in any number of counterparts and by different parties
hereto in separate 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 document. 

  
 EXH. D-2-2

 IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be executed and
delivered by a duly authorized officer on the date first above written. 
  

			
	[INSERT NAME OF INCREASING LENDER]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Accepted and agreed to as of the date first written above: 

ACTUANT CORPORATION 
  

			
	By:	 	  

	Name:	 	
	Title:	 	

 Acknowledged as of the date first written above: 
 JPMORGAN CHASE BANK, N.A., 
 as Agent 

 

			
	By:	 	  

	Name:	 	
	Title:	 	

  
 EXH. D-2-3

 EXHIBIT D-2 
 FORM OF AUGMENTING LENDER SUPPLEMENT 
 AUGMENTING LENDER SUPPLEMENT, dated
            , 20     (this “Supplement”), to the Credit Agreement, dated as of February 23, 2011 (as amended, restated, supplemented
or otherwise modified from time to time, the “Credit Agreement”), among Actuant Corporation, a Wisconsin corporation (the “Company”), the Foreign Subsidiary Borrowers party thereto, the lenders party thereto and
JPMorgan Chase Bank, N.A., as Agent for the Lenders and as LC Issuer. 
 W I T N E S S E T H 

WHEREAS, the Credit Agreement provides in Section 2.5(c) thereof that any bank, financial institution or other entity may
[extend Revolving Loan Commitments] [and] [participate in tranches of Incremental Term Loans] under the Credit Agreement subject to the approval of the Company and the Agent, by executing and delivering to the Company and the Agent a supplement to
the Credit Agreement in substantially the form of this Supplement; and 
 WHEREAS, the undersigned Augmenting Lender was not an
original party to the Credit Agreement but now desires to become a party thereto; 
 NOW, THEREFORE, each of the parties hereto
hereby agrees as follows: 
 1. The undersigned Augmenting Lender agrees to be bound by the provisions of the Credit Agreement
and agrees that it shall, on the date of this Supplement, become a Lender for all purposes of the Credit Agreement to the same extent as if originally a party thereto, with a [Revolving Loan Commitment with respect to Revolving Loans of
$[            ]] [and] [a commitment with respect to Incremental Term Loans of $[            ]]. 

2. The undersigned Augmenting Lender (a) represents and warrants and agrees that (i) it has full power and authority, and has
taken all action necessary, to execute and deliver this Supplement and to become a Lender under the Credit Agreement, (ii) its payment instructions and notice instructions are as set forth in Schedule 1 to this Supplement, (iii) none of
the funds, monies, assets or other consideration used to make Loans will be “plan assets” as defined under ERISA and that its rights, benefits and interests in and under the Loan Documents will not be “plan assets” under ERISA,
(iv) it has received a copy of the Credit Agreement, together with copies of financial statements and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Supplement
and to extend Revolving Loan Commitments and make Loans on the basis of which it has made such analysis and decision independently and without reliance on the Agent or any other Lender, and (v) attached as Schedule 1 to this Supplement is any
documentation required to be delivered by the Augmenting Lender with respect to its tax status pursuant to the terms of the Credit Agreement, duly completed and executed by the Augmenting Lender (including, in the case of any Revolving Loan
Commitment to make Revolving Loans, a duly completed tax certificate in the form of Exhibit G to the Credit Agreement (Form of UK Tax Certificate)) and (b) agrees that (i) it will, independently and without reliance on the Agent or
any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, (ii) it will perform in accordance with
their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender, and (iii) appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers and
discretion under the Credit Agreement or any other instrument or document furnished pursuant hereto or thereto as are delegated to the Agent by the terms thereof, together with such powers as are incidental thereto. 

  
 EXH. D-2-1

 3. The undersigned’s address for notices for the purposes of the Credit Agreement is as
follows: 
 [                ]

 4. The Company hereby represents and warrants that no Default or Unmatured Default has occurred and is continuing on and as
of the date hereof. 
 5. Terms defined in the Credit Agreement shall have their defined meanings when used herein. 

6. This Supplement shall be governed by, and construed in accordance with, the laws of the State of Illinois. 

7. This Supplement may be executed in any number of counterparts and by different parties hereto in separate 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 document. 

[remainder of this page intentionally left blank] 

  
 EXH. D-2-2

 IN WITNESS WHEREOF, each of the undersigned has caused this Supplement to be executed and
delivered by a duly authorized officer on the date first above written. 
  

			
	[INSERT NAME OF AUGMENTING LENDER]
		
	By:	 	 
	 Name:
	 	
	 Title:
	 	

 Accepted and agreed to as of the date first written above: 

 

			
	ACTUANT CORPORATION
		
	By:	 	 
	 Name:
	 	
	 Title:
	 	

 Acknowledged as of the date first written above: 

 

			
	 JPMORGAN CHASE BANK, N.A.,
 as Agent

		
	By:	 	 
	 Name:
	 	
	 Title:
	 	

  
 EXH. D-2-3

 EXHIBIT E-1 
 NOTE FOR REVOLVING LOANS 

                , 20    

 [Actuant Corporation, a Wisconsin corporation]
[[            ], a company organized under the laws of [            ]] (the “Borrower”), promises to pay
to the order of
                                        
(the “Lender”) the aggregate unpaid principal amount of all Revolving Loans made by the Lender to the Borrower pursuant to Article II of the Credit Agreement (as hereinafter defined), in immediately available funds in Dollars or the
applicable Agreed Currency at the office of JPMorgan Chase Bank, N.A., as Agent, specified in Article XIII of the Credit Agreement, together with interest on the unpaid principal amount hereof at the rates and on the dates set forth in the Credit
Agreement. The Borrower shall pay the principal of and accrued and unpaid interest on such Revolving Loans in full on the Revolving Loan Termination Date. 
 The Lender shall, and is hereby authorized to, record on the schedule attached hereto, or to otherwise record in accordance with its usual practice, the date and amount of each such Revolving Loan and the
date and amount of each principal payment hereunder. 
 This Note is one of the Notes issued pursuant to, and is entitled to the
benefits of, the Third Amended and Restated Credit Agreement, dated as of February [    ], 2011 (which, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time, is herein called
the “Credit Agreement”), among Actuant Corporation, a Wisconsin corporation, the Foreign Subsidiary Borrowers party thereto, the lenders party thereto, including the Lender, the LC Issuer and JPMorgan Chase Bank, N.A., as Agent, to
which Credit Agreement reference is hereby made for a statement of the terms and conditions governing this Note, including the terms and conditions under which this Note may be prepaid or its maturity date accelerated. This Note is secured pursuant
to the Collateral Documents and guaranteed pursuant to certain Guarantees, all as more specifically described in the Credit Agreement, and reference is made thereto for a statement of the terms and provisions thereof. Capitalized terms used herein
and not otherwise defined herein are used with the meanings attributed to them in the Credit Agreement. 
 The Borrower hereby
waives presentment, demand, protest and any notice (except as to notice specifically set forth in the Agreement) of any kind. No failure to exercise and no delay in exercising, any rights hereunder on the part of the holder hereof shall operate as a
waiver of such rights. 

  
 EXH. E-1-1

 This Note shall be governed by and construed in accordance with the internal laws
(including, without limitation, 735 ILCS Section 105/5-1 et seq., but otherwise without regard to the conflict of laws provisions) of the State of Illinois, but giving effect to federal laws applicable to national banks. 

 

			
	 [ACTUANT CORPORATION]
 [FOREIGN SUBSIDIARY BORROWER]

		
	By:	 	  

	 Name:
	 	  

	 Title:
	 	  

  
 EXH. E-1-2

 SCHEDULE OF LOANS AND PAYMENTS OF PRINCIPAL 

TO 
 NOTE OF
                            , 
 DATED                 , 
  

																	
	 Date
	  	Principal
Amount of
Loan	 	  	Maturity
of Interest
Period	 	  	Principal
Amount
Paid	 	  	Unpaid
Balance	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  
 EXH. E-1-3

 EXHIBIT E-2 
 NOTE FOR TERM LOANS 

            , 20    

 Actuant Corporation, a Wisconsin corporation (the “Borrower”), promises to pay to the order of
                                (the “Lender”) the aggregate unpaid
principal amount of all Term Loans made by the Lender to the Borrower pursuant to Article II of the Credit Agreement (as hereinafter defined), in immediately available funds in Dollars at the office of JPMorgan Chase Bank, N.A., as Agent, specified
in Article XIII of the Credit Agreement, together with interest on the unpaid principal amount hereof at the rates and on the dates set forth in the Credit Agreement. The Borrower shall pay the principal of and accrued and unpaid interest on such
Term Loans on the dates and in the amounts specified in the Credit Agreement. 
 The Lender shall, and is hereby authorized to,
record on the schedule attached hereto, or to otherwise record in accordance with its usual practice, the date and amount of each such Term Loan and the date and amount of each principal payment hereunder. 

This Note is one of the Notes issued pursuant to, and is entitled to the benefits of, the Third Amended and Restated Credit Agreement,
dated as of February 23, 2011 (which, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time, is herein called the “Credit Agreement”), among the Borrower, the Foreign Subsidiary
Borrowers party thereto, the lenders party thereto, including the Lender, the LC Issuer and JPMorgan Chase Bank, N.A., as Agent, to which Credit Agreement reference is hereby made for a statement of the terms and conditions governing this Note,
including the terms and conditions under which this Note may be prepaid or its maturity date accelerated. This Note is secured pursuant to the Collateral Documents and guaranteed pursuant to certain Guarantees, all as more specifically described in
the Credit Agreement, and reference is made thereto for a statement of the terms and provisions thereof. Capitalized terms used herein and not otherwise defined herein are used with the meanings attributed to them in the Credit Agreement.

 The Borrower hereby waives presentment, demand, protest and any notice (except as to notice specifically set forth in the
Agreement) of any kind. No failure to exercise and no delay in exercising, any rights hereunder on the part of the holder hereof shall operate as a waiver of such rights. 

  
 EXH. E-2-1

 This Note shall be governed by and construed in accordance with the internal laws
(including, without limitation, 735 ILCS Section 105/5-1 et seq., but otherwise without regard to the conflict of laws provisions) of the State of Illinois, but giving effect to federal laws applicable to national banks. 

 

			
	ACTUANT CORPORATION
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 EXH. E-2-2

 SCHEDULE OF LOANS AND PAYMENTS OF PRINCIPAL 

TO 
 NOTE OF
                            , 
 DATED                 , 
  

																	
	 Date
	  	Principal
Amount of
Loan	 	  	Maturity
of Interest
Period	 	  	Principal
Amount
Paid	 	  	Unpaid
Balance	 
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			
		  				  				  				  			

  
 EXH. E-2-3

 EXHIBIT F 
 FORM OF ASSUMPTION LETTER 
 To the Agent and the Lenders 

party to the Credit Agreement 
 referred to below

 Ladies and Gentlemen: 
 Reference is made to that certain Third Amended and Restated Credit Agreement dated as of February 23, 2011 among Actuant Corporation, a Wisconsin corporation (the “Company”), the
undersigned (upon the effectiveness of this Assumption Letter and the satisfaction of certain other conditions), the other Foreign Subsidiary Borrowers party thereto the financial institutions from time to time party thereto (the
“Lenders”) and JPMorgan Chase Bank, N.A., as administrative agent and contractual representative for the Lenders (in such capacity, the “Agent”) (as the same may be amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”). Terms defined in the Credit Agreement and used herein are used herein as defined therein. 
 The undersigned, [            ], a company organized under the laws of
[            ] (the “Subsidiary”), wishes to become a “Foreign Subsidiary Borrower” under the Credit Agreement, and accordingly hereby
agrees that from the date hereof it shall become a “Foreign Subsidiary Borrower” under the Credit Agreement and agrees that from the date hereof and until the payment in full of the principal of and interest on all Loans made to it and
performance of all of its other obligations thereunder, it shall perform, comply with and be bound by each of the provisions of the Credit Agreement which are stated to apply to the “Borrowers” or a “Foreign Subsidiary Borrower.”
Without limiting the generality of the foregoing, the Subsidiary hereby represents and warrants that: (i) the representations and warranties set forth in Section 5.23 of the Credit Agreement are true and correct on and as of the
date hereof, and (ii) it has heretofore received a true and correct copy of the Credit Agreement (including any amendments or modifications thereof or supplements or waivers thereto) as in effect on the date hereof. In addition, the Subsidiary
hereby authorizes the Company to act on its behalf as and to the extent provided for in Article II of the Credit Agreement. 
 CHOICE OF LAW. THIS ASSUMPTION LETTER SHALL BE CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (INCLUDING, WITHOUT LIMITATION, 735 ILCS SECTION 105/5-1 ET SEQ, BUT OTHERWISE WITHOUT REGARD TO THE
CONFLICT OF LAWS PROVISIONS) OF THE STATE OF ILLINOIS, BUT GIVING EFFECT TO FEDERAL LAWS APPLICABLE TO NATIONAL BANKS. 
 This
Assumption Letter may be executed in any number of counterparts, each of which shall be an original, but all of which shall together constitute one and the same agreement. 

  
 EXH. F-1

 IN WITNESS WHEREOF, the Subsidiary has duly executed and delivered this Assumption Letter
as of the date and year first above written. 
  

			
	[NAME OF SUBSIDIARY]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Acknowledged by: 
 JPMORGAN CHASE BANK, N.A., 
 as Agent 

 

			
	By:	 	  

	Name:	 	
	Title:	 	

 ACTUANT CORPORATION, as the Company 

 

			
	By:	 	  

	Name:	 	
	Title:	 	

 [FOREIGN SUBSIDIARY BORROWERS] 

  
 EXH. F-2

 REAFFIRMATION OF THE LOAN PARTIES 

Each of the undersigned hereby acknowledges receipt of the foregoing Assumption Letter. Capitalized terms used in this Reaffirmation and
not defined herein shall have the meanings given to them in the Credit Agreement referred to in the foregoing Assumption Letter. Without in any way establishing a course of dealing by the Agent or any Lender, each of the undersigned Loan Parties
reaffirms the terms and conditions of each and every Loan Document to which it is a party, and each such Loan Party acknowledges and agrees that such Loan Documents executed by it in connection with the Credit Agreement remain in full force and
effect and are hereby ratified, reaffirmed and confirmed. All references to the Credit Agreement contained in the above-referenced documents shall be a reference to the Credit Agreement as so amended by the Assumption Letter and as the same may from
time to time hereafter be amended, restated, supplemented or otherwise modified. The failure of any Loan Party to sign this Reaffirmation shall not release, discharge or otherwise affect the obligations of any of the Loan Parties hereunder or under
any of the Loan Documents. 
  

			
	[EACH LOAN PARTY]
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 EXH. F-3

 (i) EXHIBIT G 

(ii) FORM OF UK TAX CERTIFICATE 
 To: JPMorgan Chase Bank, N.A. as Agent 
 From: [The Existing Lender] (the
“Existing Lender”) and [The New Lender] (the “New Lender”) 
 Dated: 

ACTUANT CORPORATION and OTHERS – Third Amended and Restated Credit Agreement 

dated as of February 23, 2011 (the “Agreement”) 

 

	1.	We refer to the Agreement. Terms defined in the Agreement have the same meaning in this certificate unless given a different meaning in this certificate.

  

	2.	We refer to Clause 12.3.1(v) of the Credit Agreement: 

 The New Lender confirms by checking the relevant box that the person beneficially entitled to interest payable to that Lender in respect of an advance under a Finance Document is: 

 

	 	 ̈	a Lender: 

  

	 	(i)	which is a bank (as defined for the purpose of section 879 of the Income Tax Act 2007) making an advance under a Loan Document; or 

 

	 	(b)	(i) in respect of an advance made under a Loan Document by a person that was a bank (as defined for the purpose of section 879 of the Income Tax Act 2007) at the time
that that advance was made, 

  

	 	(i)	and which is within the charge to United Kingdom corporation tax as respects any payments of interest made in respect of that advance 

 

	 	 ̈	a company resident in the United Kingdom for United Kingdom tax purposes; or 

 

	 	 ̈	a partnership each member of which is: 

  

	 	(i)	a company so resident in the United Kingdom; or 

  

	 	(c)	(ii) a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which is required to bring
into account in computing its chargeable profits (for the purposes of section 19 of the Corporation Tax Act 2009) the whole of any share of interest payable in respect of that advance that falls to it by reason of Part 17 of the Corporation Tax Act
2009; or 

  
 EXH. G-1

	 	 ̈	a company not so resident in the United Kingdom which carries on a trade in the United Kingdom through a permanent establishment and which brings into account interest
payable in respect of an advance under a Finance Document in computing the chargeable profits (for the purposes of section 19 of the Corporation Tax Act 2009) of that company; 

 

	 	 ̈	a Treaty Lender; or 

  

	 	 ̈	a building society (as defined for the purpose of section 880 of the Income Tax Act 2007) making an advance under a Loan Document; or 

 

	 	 ̈	none of the above. 

 3. This certificate may be
executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this certificate. 
  

	4.	 The New Lender confirms (for the benefit of the Agent and without liability to any Borrower) that it is a Treaty Lender that holds a passport under the
HMRC DT Treaty Passport scheme (reference number [ ]),]) and is tax resident in [ ]9, so that interest payable to it by borrowers is generally subject to full exemption from UK withholding tax and notifies the UK Borrowers that: 

(a) each UK Subsidiary which is a Borrower as at the date on which the New Lender becomes a Lender under the Agreement
(the “Transfer Date”) must, to the extent that the New Lender becomes a Lender under a Loan which is made available to that UK Subsidiary pursuant to Article 2 (The Credits) of the Agreement, make an application to HM
Revenue & Customs under form DTTP2 within 30 Business Days of the Transfer Date; and 
 (b) each UK Subsidiary which becomes a Borrower after the Transfer Date must, to the extent that the New Lender is a Lender under a Loan which is made available to that UK Subsidiary pursuant to Article 2
(The Credits) of the Agreement, make an application to HM Revenue & Customs under form DTTP2 within 30 Business Days of becoming a Borrower.10 

 

	9	 Insert jurisdiction of tax residence. 

	10	 This confirmation must be included if the New Lender holds a passport under the HMRC DT Treaty Passport scheme and, as at the Transfer Date, wishes
that scheme to apply to the Agreement. 

  
 EXH. G-2

 (i) EXHIBIT H 

(ii) FORM OF SUBSIDIARY BORROWER TERMINATION 
 JPMorgan Chase Bank, N.A. 
 as Agent for the Lenders referred to below 

10 South Dearborn, 7th Floor 
 Mail Code:
IL1-0011 
 Chicago, IL 60603-2003 

Attn: Leonida Mischke 
 Fax: (312) 385-7096

 [Date] 
 Ladies and
Gentlemen: 
 The undersigned, Actuant Corporation, a Wisconsin corporation (the “Company”), refers to the
Third Amended and Restated Credit Agreement dated as of February 23, 2011 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Company, the Foreign Subsidiary Borrowers
from time to time party thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Agent. Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement.

 The Company hereby terminates the status of [            ]
(the “Terminated Borrowing Subsidiary”) as a Foreign Subsidiary Borrower under the Credit Agreement. [The Company represents and warrants that no Loans made to the Terminated Borrowing Subsidiary are outstanding as of the date
hereof and that all amounts payable by the Terminated Borrowing Subsidiary in respect of interest and/or fees (and, to the extent notified by the Agent or any Lender, any other amounts payable under the Credit Agreement) pursuant to the Credit
Agreement have been paid in full on or prior to the date hereof.] [The Company acknowledges that the Terminated Borrowing Subsidiary shall continue to be a Borrower until such time as all Loans made to the Terminated Borrowing Subsidiary shall have
been prepaid and all amounts payable by the Terminated Borrowing Subsidiary in respect of interest and/or fees (and, to the extent notified by the Agent or any Lender, any other amounts payable under the Credit Agreement) pursuant to the Credit
Agreement shall have been paid in full, provided that the Terminated Borrowing Subsidiary shall not have the right to make further Borrowings under the Credit Agreement.] 

  
 1 

 [Signature Page Follows] 

  
 2 

 This instrument shall be construed in accordance with and governed by the laws of the State
of Illinois. 
  

			
	Very truly yours,
	
	ACTUANT CORPORATION
		
	By:	 	 
		 	Name:
		 	Title:

  
 3 

 COMMITMENT SCHEDULE 

 

													
	 Lender
	  	Revolving Loan
Commitments	 	  	Term Loan
Commitments	 	  	Total
Commitments	 
	 JPMorgan Chase Bank, N.A.
	  	$	64,285,714.29	  	  	$	10,714,285.71	  	  	$	75,000,000.00	  
	 Bank of America, N.A.
	  	$	64,285,714.29	  	  	$	10,714,285.71	  	  	$	75,000,000.00	  
	 Wells Fargo Bank, N.A.
	  	$	64,285,714.29	  	  	$	10,714,285.71	  	  	$	75,000,000.00	  
	 U.S. Bank National Association
	  	$	64,285,714.29	  	  	$	10,714,285.71	  	  	$	75,000,000.00	  
	 KeyBank National Association
	  	$	37,714,285.71	  	  	$	6,285,714.29	  	  	$	44,000,000.00	  
	 PNC Bank, National Association
	  	$	37,714,285.71	  	  	$	6,285,714.29	  	  	$	44,000,000.00	  
	 SunTrust Bank, N.A.
	  	$	37,714,285.71	  	  	$	6,285,714.29	  	  	$	44,000,000.00	  
	 Mizuho Corporate Bank, Ltd.
	  	$	37,714,285.71	  	  	$	6,285,714.29	  	  	$	44,000,000.00	  
	 M&I Marshall & Ilsley Bank
	  	$	34,285,714.29	  	  	$	5,714,285.71	  	  	$	40,000,000.00	  
	 RBS Citizens, N.A.
	  	$	34,285,714.29	  	  	$	5,714,285.71	  	  	$	40,000,000.00	  
	 Royal Bank of Canada
	  	$	26,400,000.00	  	  	$	4,400,000.00	  	  	$	30,800,000.00	  
	 Associated Bank, N.A.
	  	$	21,428,571.43	  	  	$	3,571,428.57	  	  	$	25,000,000.00	  
	 The Northern Trust Company
	  	$	21,428,571.43	  	  	$	3,571,428.57	  	  	$	25,000,000.00	  
	 Credit Industriel et Commercial
	  	$	21,428,571.43	  	  	$	3,571,428.57	  	  	$	25,000,000.00	  
	 Bank of Montreal
	  	$	21,428,571.43	  	  	$	3,571,428.57	  	  	$	25,000,000.00	  
	 RBC Bank (USA)
	  	$	11,314,285.71	  	  	$	1,885,714.29	  	  	$	13,200,000.00	  
	 Total Allocations
	  	$	600,000,000.00	  	  	$	100,000,000.00	  	  	$	700,000,000.00	  

  
 4 

 MANDATORY COST SCHEDULE 

Mandatory Cost 
  

	1.	The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the
Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank. 

 

	2.	On the first day of each Interest Period (or as soon as possible thereafter) the Agent shall calculate, as a percentage rate, a rate (the “Additional Costs
Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the Agent as a weighted average of the Lenders’ Additional Costs Rate (weighted in proportion to the percentage
participation of each Lender in the relevant Loan) and will be expressed as a percentage rate per annum. 

  

	3.	The Additional Costs Rate for any Lender lending from a Lending Installation in a Participating Member State will be the percentage notified by that Lender to the
Agent. This percentage will be certified by that Lender in its notice to the Agent to be its reasonable determination of the cost (expressed as a percentage of that Lender’s participation in all Loans made from that Lending Installation) of
complying with the minimum reserve requirements of the European Central Bank in respect of loans made from that Lending Installation. 

  

	4.	The Additional Costs Rate for any Lender lending from a Lending Installation in the United Kingdom will be calculated by the Agent as follows: 

 

	(a)	in relation to a Loan in Pounds Sterling: 

 

 

  

	(b)	in relation to a Loan in any currency other than Pounds Sterling: 

 

 

 Where: 
  

	 	A	is the percentage of Eligible Liabilities (assuming these to be in excess of any stated minimum) which that Lender is from time to time required to maintain as an
interest free cash ratio deposit with the Bank of England to comply with cash ratio requirements. 

  

	 	B	is the percentage rate of interest (excluding the Applicable Margin and the Mandatory Cost and, if the Loan is an Unpaid Sum, the additional rate of interest specified
in Section 2.11 payable for the relevant Interest Period on the Loan. 

  
 5 

	 	C	is the percentage (if any) of Eligible Liabilities which that Lender is required from time to time to maintain as interest bearing Special Deposits with the Bank of
England. 

  

	 	D	is the percentage rate per annum payable by the Bank of England to the Agent on interest bearing Special Deposits. 

 

	 	E	is designed to compensate Lenders for amounts payable under the Fees Rules and is calculated by the Agent as being the average of the most recent rates of charge
supplied by the Reference Bank to the Agent pursuant to paragraph 7 below and expressed in pounds per £1,000,000. 

  

	5.	For the purposes of this Schedule: 

  

	(a)	“Eligible Liabilities” and “Special Deposits” have the meanings given to them from time to time under or pursuant to the Bank of
England Act 1998 or (as may be appropriate) by the Bank of England; 

  

	(b)	“Fees Rules” means the rules on periodic fees contained in the Financial Services Authority Fees Manual or such other law or regulation as may be in
force from time to time in respect of the payment of fees for the acceptance of deposits; 

  

	(c)	“Fee Tariffs” means the fee tariffs specified in the Fees Rules under Column 1 of the activity group A.1 Deposit acceptors (ignoring any minimum fee or
zero rated fee required pursuant to the Fees Rules but taking into account any applicable discount rate); 

  

	(d)	“Participating Member State” means any member state of the European Union that adopts or has adopted the euro as its lawful currency in accordance with
legislation of the European Union relating to economic and monetary union. 

  

	(e)	“Reference Bank” means, in relation to Mandatory Cost, the principal London offices of JPMorgan Chase Bank, N.A. 

 

	(f)	“Tariff Base” has the meaning given to it in, and will be calculated in accordance with, the Fees Rules. 

 

	(g)	“Unpaid Sum” means any sum due and payable but unpaid by the relevant Borrower under the Loan Documents. 

 

	6.	In application of the above formulae, A, B, C and D will be included in the formulae as percentages (i.e. 5 per cent. will be included in the formula as 5 and not
as 0.05). A negative result obtained by subtracting D from B shall be taken as zero. The resulting figures shall be rounded to four decimal places. 

  

	7.	If requested by the Agent, the Reference Bank shall, as soon as practicable after publication by the Financial Services Authority, supply to the Agent, the rate of
charge payable by it to the Financial Services Authority pursuant to the Fees Rules in respect of the relevant financial year of the Financial Services Authority (calculated for this purpose by the Reference Bank as being the average of the Fee
Tariffs applicable to it for that financial year) and expressed in pounds per £1,000,000 of the Tariff Base of the Reference Bank. 

  
 6 

	8.	Each Lender shall supply any information required by the Agent for the purpose of calculating its Additional Costs Rate. In particular, but without limitation, each
Lender shall supply the following information on or prior to the date on which it becomes a Lender: 

  

	 	(ii)	the jurisdiction of its Lending Installation; and 

  

	 	(iii)	any other information that the Agent may reasonably require for such purpose. 

 Each Lender shall promptly notify the Agent of any change to the information provided by it pursuant to this paragraph. 
  

	9.	The percentages of each Lender for the purpose of A and C above and the rates of charge of the Reference Bank for the purpose of E above shall be determined by the
Agent based upon the information supplied to it pursuant to paragraphs 7 and 8 above and on the assumption that, unless a Lender notifies the Agent to the contrary, each Lender’s obligations in relation to cash ratio deposits and Special
Deposits are the same as those of a typical bank from its jurisdiction of incorporation with a Lending Installation in the same jurisdiction as its Lending Installation. 

 

	10.	The Agent shall have no liability to any person if such determination results in an Additional Costs Rate which over or under compensates any Lender and shall be
entitled to assume that the information provided by any Lender or Reference Bank pursuant to paragraphs 3, 7 and 8 above is true and correct in all respects. 

 

	11.	The Agent shall distribute the additional amounts received as a result of the Mandatory Cost to the Lenders on the basis of the Additional Costs Rate for each Lender
based on the information provided by each Lender and the Reference Bank pursuant to paragraphs 3, 7 and 8 above. 

  

	12.	Any determination by the Agent pursuant to this Schedule in relation to a formula, the Mandatory Cost, an Additional Costs Rate or any amount payable to a Lender shall,
in the absence of manifest error, be conclusive and binding on all parties hereto. 

 The Agent may from time to time, after
consultation with the relevant Borrower and the relevant Lenders, determine and notify to all parties hereto any amendments which are required to be made to this Schedule in order to comply with any change in law, regulation or any requirements from
time to time imposed by the Bank of England, the Financial Services Authority or the European Central Bank (or, in any case, any other authority which replaces all or any of its functions) and any such determination shall, in the absence of manifest
error, be conclusive and binding on all parties hereto. 

  
 7 

 PRICING SCHEDULE 

 

																									
	 APPLICABLE

MARGIN
	  	LEVEL
I 
STATUS	 	 	LEVEL II
STATUS	 	 	LEVEL III
STATUS	 	 	LEVEL IV
STATUS	 	 	LEVEL V
STATUS	 	 	LEVEL VI
STATUS	 
	 Eurocurrency Rate
	  	 	1.25	% 	 	 	1.50	% 	 	 	1.75	% 	 	 	2.00	% 	 	 	2.25	% 	 	 	2.50	% 
	 Floating Rate
	  	 	0.25	% 	 	 	0.50	% 	 	 	0.75	% 	 	 	1.00	% 	 	 	1.25	% 	 	 	1.50	% 
							
	 APPLICABLE FEE

RATE
	  	LEVEL
I STATUS	 	 	LEVEL II
STATUS	 	 	LEVEL III
STATUS	 	 	LEVEL IV
STATUS	 	 	LEVEL V
STATUS	 	 	LEVEL VI
STATUS	 
	 Commitment Fee
	  	 	0.20	% 	 	 	0.25	% 	 	 	0.30	% 	 	 	0.35	% 	 	 	0.40	% 	 	 	0.40	% 

 For the purposes of this
Schedule, the following terms have the following meanings, subject to the final paragraph of this Schedule: 

“Financials” means the annual or quarterly financial statements of the Company delivered pursuant to Section 6.1(i)
or (ii). 
 “Level I Status” exists at any date if, as of the last day of the fiscal quarter of the Company
referred to in the most recent Financials, the Leverage Ratio is less than 1.25 to 1.00. 
 “Level II Status”
exists at any date if, as of the last day of the fiscal quarter of the Company referred to in the most recent Financials, (i) the Company has not qualified for Level I Status and (ii) the Leverage Ratio is less than 1.50 to 1.00.

 “Level III Status” exists at any date if, as of the last day of the fiscal quarter of the Company referred
to in the most recent Financials, (i) the Company has not qualified for Level I Status or Level II Status and (ii) the Leverage Ratio is less than 2.00 to 1.00. 
 “Level IV Status” exists at any date if, as of the last day of the fiscal quarter of the Company referred to in the most recent Financials, (i) the Company has not qualified for
Level I Status, Level II Status or Level III Status and (ii) the Leverage Ratio is less than 2.50 to 1.00. 

“Level V Status” exists at any date if, as of the last day of the fiscal quarter of the Company referred to in the most
recent Financials, (i) the Company has not qualified for Level I Status, Level II Status, Level III Status or Level IV Status and (ii) the Leverage Ratio is less than 3.00 to 1.00. 

“Level VI Status” exists at any date if, as of the last day of the fiscal quarter of the Company referred to in the most
recent Financials, the Company has not qualified for Level I Status, Level II Status, Level III Status, Level IV Status or Level V Status. 
 “Status” means Level I Status, Level II Status, Level III Status, Level IV Status, Level V Status, or Level VI Status. 

  
 1 

 For the period from the Closing Date until the receipt of the Company’s Financials for
the quarter ending February 28, 2011, the higher of Level IV Status or the Applicable Margin and Applicable Fee Rate determined in accordance with the foregoing table based on the Company’s Status as reflected in the then most recent
Financials shall be in effect. Thereafter, the Applicable Margin and Applicable Fee Rate shall be determined in accordance with the foregoing table based on the Company’s Status as reflected in the then most recent Financials. Adjustments, if
any, to the Applicable Margin or Applicable Fee Rate shall be effective five Business Days after the Agent has received the applicable Financials. If the Company fails to deliver the Financials to the Agent at the time required pursuant to
Section 6.1, then the Applicable Margin and Applicable Fee Rate shall be the highest Applicable Margin and Applicable Fee Rate set forth in the foregoing table until five days after such Financials are so delivered. 

  
 2 

 Schedule 1.2 
 Initial Material Domestic Subsidiaries 
 On file with Agent.

  
 3 

 Schedule 1.3 
 Initial Material Foreign Subsidiaries 
 On file with Agent.

  
 4 

 Schedule 1.4 
 Initial Foreign Law Pledgors and Foreign Law Pledge Agreements 
 On
file with Agent. 

  
 5 

 Schedule 1.5 
 Existing Sale Leaseback Transactions 
 On file with Agent.

  
 6 

 Schedule 2.19.13 

Existing Letters of Credit 
 On file with Agent. 

  
 7 

 Schedule 4.1 
 List of Closing Documents 
 On file with Agent. 

  
 8 

 Schedule 5.7 
 Litigation 
 None. 

  
 9 

 Schedule 5.8 
 Subsidiaries 
 On file with Agent. 

  
 10 

 Schedule 5.15 
 Insurance 
 On file with Agent. 

  
 11 

 Schedule 6.11 
 Indebtedness 
 None. 

  
 12 

 Schedule 6.14 
 Investments 
 See Schedule 5.8. 

  
 13 

 Schedule 6.15 
 Liens 
 None. 

  
 14 

 Schedule 6.18 
 Contingent Obligations 
 In connection with the Company’s Spin-off of its
electronics business (“APW”) in fiscal 2000, the Company remained contingently liable for certain lease obligations of APW. If APW were unable to fulfill its obligations under the leases, the Company could be liable for such leases. The
discounted present value of future minimum lease payments for such leases totals, assuming no offset for sub-leasing, approximately $3.3 million at January 31, 2011. The future undiscounted minimum lease payments for these leases are as
follows: $1.1 million in the balance of calendar 2011; $1.2 million in calendar 2012 and $3.7 million thereafter. 

  
 15Sterling Bancshares, Inc. Deferred Compensation Plan

 Exhibit 10.35 
 STERLING BANCSHARES, INC. 
 DEFERRED COMPENSATION PLAN 

(as Amended and Restated October 1, 2009) 

 TABLE OF CONTENTS 

 

							
	 ARTICLE
	  	PAGE	 
			
	 I.
	  	Definitions and Construction	  	 	1	  
			
	 II.
	  	Participation	  	 	4	  
			
	 III.
	  	Account Credits and Allocations of Income or Loss	  	 	5	  
			
	 IV.
	  	Deemed Investment of Funds	  	 	8	  
			
	 V.
	  	Vested Interests	  	 	9	  
			
	 VI.
	  	In-Service Distributions	  	 	10	  
			
	 VII.
	  	Termination Benefits	  	 	10	  
			
	 VIII.
	  	Administration of the Plan	  	 	13	  
			
	 IX.
	  	Administration of Funds	  	 	16	  
			
	 X.
	  	Nature of the Plan	  	 	16	  
			
	 XI.
	  	Miscellaneous	  	 	16	  

  
 (i)

 STERLING BANCSHARES, INC. 

DEFERRED COMPENSATION PLAN 
 (As Amended and Restated October 1, 2009) 
 W I T N E S S E T H :

 WHEREAS, STERLING BANCSHARES, INC. (the “Parent”) maintains the STERLING BANCSHARES, INC. DEFERRED
COMPENSATION PLAN (the “Plan”) to provide certain of its employees with the ability to electively defer, on a before-tax basis, compensation and to receive certain Company deferrals; 

WHEREAS, the Plan was amended and restated to (i) comply with the final regulations issued under Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”), (ii) permit Directors to electively defer all or part of their Director Fees, and (iii) permit Employee Members to direct the “investment” of their Accounts; and

 WHEREAS, the Plan was subsequently amended to incorporate additional changes to permit compliance with the
requirements of Sections 162(m) and 409A of the Code; and 
 WHEREAS, Parent desires to amend and restate the Plan to
prospectively permit additional forms of deferral to be provided under the Plan’s terms; 
 NOW, THEREFORE, Parent
hereby amends and restates the Plan, effective as of October 1, 2009: 
 I. 

Definitions and Construction 
 1.1 Definitions. Where the following words and phrases appear in the Plan, they shall have the respective meanings set forth below, unless their context clearly indicates to the contrary.

 Account(s): A Member’s Company Account, Deferral Account, and/or Grandfathered Account, as the context
requires. 
 Base Salary: The base pay and commissions payable by the Company to an Employee Member for services
after his applicable Election Date; provided, however, the HR Programs Committee may, in its sole discretion, limit the amount of commissions that are to be considered under the Plan for any Member for any Plan Year. 

Code: The Internal Revenue Code of 1986, as amended. 

Committee: The administrative committee appointed by the HR Programs Committee to administer the Plan. 

  
 - 1 -

 Company: Parent and any Subsidiary which adopts the Plan pursuant to the
provisions of Section 2.3. 
 Company Account: An individual bookkeeping account for each Member which is
credited with any Company Deferrals made on his behalf pursuant to Section 3.2. Such account shall be credited (or debited) with its share of net income (or net loss) as provided in Section 3.3. 

Company Deferrals: Nonelective deferrals made by the Company on an Employee Member’s behalf pursuant to
Section 3.2. 
 Compensation: With respect to an Employee Member, his Base Salary, Incentive Compensation and
Eligible Bonus, as applicable, and with respect to a Director Member, his Director’s Fees. 
 Deferral
Account: An individual bookkeeping account maintained for each Member which is credited with his elective Compensation deferrals made pursuant to Section 3.1 with respect to Compensation payable after December 31, 2004. Such
account shall be credited (or debited) with its share of net income (or net loss) as provided in Section 3.3. 

Director: A non-employee member of the Board of Directors of the Parent. 

Director’s Fees: A Director’s annual retainer, meeting fees, committee fees and all other fees paid for his
services as a Director for services rendered after his Election Date, whether paid in cash or in shares of Company stock. 

Director Member: A Member who is a Director or a former Director with an Account. 

Election Date: The first day of each Plan Year; provided, however, with respect to an individual who first becomes a
Director or an employee (whether by an acquisition or hire) (as used herein, “Plan” shall include any plan aggregated with the Plan under Section 409A of the Code) after the beginning of a Plan Year and prior to July 1 of that
Plan Year (or, if an employee on January 1 is later promoted into the eligible class of employees after January 1 and prior to July 1), his initial Election Date under the Plan shall be the July 1 of that Plan Year. With respect
to any individual who is rehired and previously was a Member in the Plan or participated in a plan that is aggregated with the Plan for purposes of Section 409A, his first Election Date following his date of rehire shall be the first day of the
Plan Year following his date of rehire, provided he is designated as eligible to participate that year (if not designated as eligible, it shall be the first day of the Plan Year following his designation as again being eligible). 

Eligible Bonus: With respect to an Employee Member, bonus payments provided under any bonus plan or individual bonus
agreement, not including Short-Term Incentive Plans, Central Department annual bonus plans, or Shared Services Executive Team bonus plans, which has been approved by the HR Programs Committee or, to the extent authorized by the HR Programs
Committee, its delegate, provided that (i) the proceeds of such plan or agreement must be payable in cash and (ii) the actual amount of such bonus payments must be not less than $10,000 on the payment date. For purposes of this definition,
amounts designated as “signing bonuses” and “retention bonuses” shall be treated as Eligible Bonuses and amounts designated by the HR Programs Committee as “Incentive Compensation” shall not be treated as Eligible
Bonuses. 

  
 - 2 -

 Employee Member: A Member who is an employee or former employee of the Company
with an Account. 
 ESP: The Company’s Employee Savings Plan. 

Funds: The investment funds designated from time to time for the deemed investment of Accounts pursuant to Article IV.

 Grandfathered Account: An individual bookkeeping account for an Employee Member that is credited with his
Compensation deferrals made pursuant to Section 3.1 with respect to Compensation otherwise payable prior to January 1, 2005, if any. Such account shall be credited (or debited) with its share of net income (or net loss) as provided in
Section 3.3. 
 HR Programs Committee: The HR Programs Committee of the Board of Directors of the Parent.

 Incentive Compensation: With respect to an Employee Member, incentive payments include payments made under the
Company’s Short-Term Incentive Plans, Central Department annual bonus plans, Shared Services Executive Team bonus plans or programs as adopted from time to time by the HR Programs Committee, that are payable in cash by the Company to such
Member. 
 Member: Each Director Member and each Employee Member, as the context requires. 

Plan: The Sterling Bancshares, Inc. Deferred Compensation Plan, as amended from time to time. 

Plan Year: The calendar year. 
 Separation from Service: A termination of employment or service that constitutes a separation from service under the regulations issued under Section 409A of the Code. 

Specified Employee: An employee who is a “key employee” (as defined in Section 416 of the Code) at any time
during the 12-month period ending on each December 31. Such a key employee will become a Specified Employee on the April 1 following such December 31 identification date. The provisions of the regulations under Section 409A of
the Code concerning the determination of Specified Employees in corporate transactions are hereby incorporated by reference. 

Subsidiary: Any corporation that is a “subsidiary corporation” of the Company within the meaning of
Section 424(f) of the Code and any other entity that would be such a ‘subsidiary corporation’ if the entity were a corporation. 

  
 - 3 -

 Trust: The grantor trust, if any, established under the Trust Agreement.

 Trust Agreement: The agreement, if any, entered into between the Company and the Trustee pursuant to Article X.

 Trust Fund: The funds and properties, if any, held pursuant to the provisions of the Trust Agreement, together
with all income, profits and increments thereto. 
 Trustee: The trustee or trustees qualified and acting under
the Trust Agreement at any time. 
 Unforeseeable Emergency: A severe financial hardship to the Member resulting
from an illness or accident of the Member, the Member’s spouse, the Member’s beneficiary or the Member’s dependent (as defined in Section 152 of the Code, without regard to Section 152(b)(i), (b)(2), and (d)(1)(B)); the loss
of the Member’s property due to casualty (including the need to rebuild a home following damage to a home not otherwise covered by insurance); or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond
the control of the Member, each determined in accordance with the regulations under Section 409A of the Code. 

Valuation Dates: Each business day on which the principal securities markets are open. 

Number and Gender. Wherever appropriate herein, words used in the singular shall be considered to include the plural and
words used in the plural shall be considered to include the singular. The masculine gender, where appearing in the Plan, shall be deemed to include the feminine gender. 
 1.2 Headings. The headings of Articles and Sections herein are included solely for convenience, and if there is any conflict between such headings and the text of the Plan, the text shall
control. 
 II. 
 Participation 
 2.1 Participation. Prior to each
applicable Election Date, the Committee, in its sole discretion, shall select and cause to be notified those employees of the Company who are eligible to be contributing Employee Members with respect to such Plan Year or the remainder of such Plan
Year, as the case may be; provided however, only employees who are members of a ‘select group of management or highly compensated employees,’ within the meaning of Section 201 of ERISA, shall be eligible to contribute with respect to
such Plan Year. In addition, each Director automatically shall be eligible to participate. Each eligible individual (employee or Director) may become a contributing Member for a Plan Year (or part thereof) by executing and filing with the Company,
prior to the Election Date applicable to such individual for such Plan Year, the Compensation deferral election form prescribed by the Company for the Plan. Notwithstanding the foregoing, without regard to whether an employee elects to defer
Compensation under the Plan for any Plan Year, an employee designated as eligible to be a contributing Member for such Plan Year (or part thereof) shall be deemed a Member for purposes of any Company Deferral made for that Plan Year that is not an
employer matching contribution. Subject to the above requirements of Section 201 of ERISA continuing to be satisfied and the provisions of Section 2.2, an Employee Member shall remain eligible to defer Compensation hereunder and receive an
allocation of any Company Deferrals for each Plan Year following his initial year of participation in the Plan provided his Compensation continues to meet the Committee’s determination of the amount necessary to qualify under the Plan for such
year. 

  
 - 4 -

 The Committee’s selection of eligible employees may be by a general classification,
e.g., officers of certain levels or above or the receipt of annual compensation greater than a certain annual amount, and any such selection criteria may be deemed to be an ongoing one until changed by the Committee. 

2.2 Cessation of Active Participation. Notwithstanding any provision herein to the contrary, a Member of the Plan shall
cease to be eligible to defer Compensation hereunder or receive an allocation of Company Deferrals, if otherwise eligible, effective as of the first day of any year designated by the Committee. Any such Committee action shall be communicated to the
affected employee prior to the effective date of such action. 
 2.3 Adopting Subsidiaries. It is contemplated
that any Subsidiary, whether or not presently existing, may become a party hereto by action of its officers and the approval of the Committee, but without the need for approval of its board of directors or of the HR Programs Committee. The
provisions of the Plan shall apply equally to each Subsidiary and its employees in the same manner as is expressly provided for the Parent and its employees, except that the power to appoint or otherwise affect the Committee and the Trustee and the
power to amend or terminate the Plan or amend the Trust Agreement shall be exercised by the HR Programs Committee or Committee alone. Transfer of employment among the Companies and Subsidiaries shall not be considered a termination of employment
hereunder. Any Subsidiary may, by appropriate action of its officers without the need for approval of its board of directors or the Committee or the HR Programs Committee, terminate its participation in the Plan effective as of the first day of any
future Plan Year. Moreover, the Committee may, in its discretion, terminate a Subsidiary’s Plan participation effective as of the first day of any future Plan Year. 
 III.  
 Account Credits and Allocations of Income or Loss

 3.1 Member Deferrals. 

(a) For each Plan Year (or applicable part thereof) an Employee Member may elect to defer an integral percentage of from
5% to 90% of his Base Salary and a Director Member may elect to defer an integral percentage of from 5% to 100% of his Directors Fees. A Director Member may, if permitted by the Committee, make separate deferral elections for his annual
directors’ fees, meeting fees, committee meeting fees, and/or special meeting fees with respect to his Director’s Fees paid in cash and a separate election with respect to his Director’s Fees paid in Company stock. Compensation for a
Plan Year not deferred by such an election shall be received by such Employee Member in cash and by such Director Member in cash or in Company stock, as the case may be. A Member’s election to defer an amount of his Compensation pursuant to
this Section shall be made prior to the Election Date applicable to such Member by executing a Compensation deferral election form pursuant to which the Member authorizes the Company to reduce his Compensation in the elected amount and the Company,
in consideration thereof, agrees to credit an equal amount to such Member’s Deferral Account maintained under the Plan. Compensation deferrals made by a Member shall be credited to such Member’s Deferral Account as of a date determined in
accordance with procedures established from time to time by the Committee; provided, however, that such deferrals shall be credited to the Member’s Deferral Account no later than 30 days after the date upon which the Compensation deferred would
have been received by such Member if he had not elected to defer such amount pursuant to this paragraph (a). 

  
 - 5 -

 (b) For each Plan Year that an Employee Member is paid “Incentive
Compensation”, such Member may elect to defer an integral percentage of from 5% to 90% of such Incentive Compensation. Incentive Compensation paid with respect to services rendered in a Plan Year and not deferred by such an election shall be
received by such Member in cash. A Member’s election to defer an amount of his Incentive Compensation pursuant to this Section shall be made by executing an Incentive Compensation deferral election form pursuant to which the Member authorizes
the Company to reduce his Incentive Compensation in the elected amount and the Company, in consideration thereof, agrees to credit an equal amount to such Member’s Deferral Account maintained under the Plan. Incentive Compensation deferrals
made by a Member shall be credited to such Member’s Deferral Account as of a date determined in accordance with procedures established from time to time by the Committee; provided, however, that such deferrals shall be credited to the
Member’s Deferral Account no later than 30 days after the date upon which the Incentive Compensation deferred would have been received by such Member if he had not elected to defer such amount pursuant to this paragraph (b). 

(c) For each Plan Year that an Employee Member is paid an “Eligible Bonus”, such Member may elect to defer an
integral percentage of from 5% to 90% of such Eligible Bonus. Eligible Bonus payments paid with respect to services rendered in a Plan Year and not deferred by such an election shall be received by such Member in cash. A Member’s election to
defer an amount of his Eligible Bonus shall be made by executing a deferral election form pursuant to which the Member authorizes the Company to reduce his Eligible Bonus by the designated amount and the Company, in consideration thereof, agrees to
credit an equal amount to such Member’s Deferral Account maintained under the Plan. Eligible Bonus deferrals made by a Member shall be credited to such Member’s Deferral Account as of a date determined in accordance with procedures
established from time to time by the Committee; provided, however, that such deferrals shall be credited to the Member’s Deferral Account no later than 30 days after the date upon which the Eligible Bonus would have been received by such Member
if he had not elected to defer such amount pursuant to this paragraph (c). 

  
 - 6 -

 (d) A Member’s Compensation deferral election shall become effective as
of the Election Date which is on or after the date the election form is filed with the Company and shall be effective only with respect to Compensation that is for services rendered after the Election Date. A Member’s Compensation deferral
election shall be irrevocable on and after the Election Date and remain in force and effect for the entire Plan Year with respect to which it is made (or the remainder thereof, if applicable) and shall remain effective for each subsequent Plan Year,
provided the Member remains eligible to make deferrals, until changed in accordance with paragraph (e). 
 (e) A
Member may change or revoke his Compensation deferral election for any subsequent Plan Year by filing the proper form with the Company or designated representative prior to the beginning of the Plan Year for which the change or revocation is to
become effective. 
 (f) In the event that Parent has adopted a formal policy of deferring payment of any
compensation (as reported on IRS Form W-2) that is payable to an Employee Member based on Parent’s determination that such compensation will not be deductible by Parent under Section 162(m) of the Code, such amount shall be treated as a
Member Deferral under this Section 3.1. An Employee Member shall not be permitted to make a deferral election or distribution election with respect to any amount described in this paragraph (f). 

(g) Company Contributions. Except as provided below, with respect to each Plan Year the Company may credit
the Company Account of each Employee Member with an amount equal to the difference between the following: 
 (h)
the amount of matching and profit sharing contributions that the Company would have contributed to the ESP on the Member’s behalf that Plan Year if there were (i) no elective deferral contributions made by the Member to this Plan for that
Plan Year, (ii) no compensation limit as prescribed in Section 401(a)(17) of the Code, (iii) no dollar limit on 401(k) deferrals as prescribed in Section 402(g)(1) of the Code, and (iv) no limitation on annual additions as
prescribed by Section 415 of the Code, less 
 (i) the sum of the amount of (i) the Company profit
sharing contribution actually contributed to the ESP on the Member’s behalf for that Plan Year, plus (ii) the amount of the Company matching contribution the Company would have made on behalf of the Member had the Member made that year the
maximum 401(k) contribution that is subject to the Company matching contribution under the ESP. 
 Notwithstanding the foregoing, the HR
Programs Committee may, in its sole discretion, at any time increase or decrease the Company matching and/or profit sharing contribution amount under Section 3.2(i) any Plan Year for one or more Members, including all Members. 

  
 - 7 -

 3.2 Allocation of Net Income or Loss and Changes in Value Among Accounts.

 (a) As of each Valuation Date, the Committee shall cause to be determined the net income (or net loss) of each
Fund for the period elapsed since the next preceding Valuation Date. The net income (or net loss) of each Fund since the next preceding Valuation Date shall be ascertained by the Committee or its designee in such manner as it deems appropriate,
provided that such determination shall include any net increase or net decrease (whether or not realized) in the value of the assets of each such Fund since the next preceding Valuation Date, and may include expenses of administering the Fund, the
Trust and the Plan. 
 (b) For purposes of allocations of net income (or net loss), each Member’s Accounts
shall be divided into subaccounts to reflect such Member’s deemed investment designation in a particular Fund or Funds pursuant to Article IV. As of each Valuation Date, the net income (or net loss) of each Fund, separately and respectively,
shall be allocated among the corresponding subaccounts of the Members who had such corresponding subaccounts on the next preceding Valuation Date, and each such corresponding subaccount shall be credited with (or debited for) that portion of such
net income (or net loss) that the value of each such corresponding subaccount on such next preceding Valuation Date was of the value of all such corresponding subaccounts on such date; provided, however, that the value of such subaccounts as of the
next preceding Valuation Date shall be reduced by the amount of any payments debited thereto in accordance with Section 7.4 since the next preceding Valuation Date. 

(c) So long as there is any balance in any Account, such Account shall continue to receive allocations pursuant to this
Section. 
 IV. 
 Deemed Investment of Funds 
 4.1 Member
Investments.  
 (a) The same investment funds offered under the ESP shall be deemed offered under
this Plan for investment of Accounts. Except as provided in Section 4.2, each Member may be given an election to designate, in accordance with the procedures established from time to time by the Committee, the manner in which the amounts
allocated to his Accounts shall be deemed to be invested from among the Funds made available from time to time for such purpose by the Committee. Such Member may designate one of such Funds for the deemed investment of all the amounts allocated to
his Accounts or he may split the deemed investment of the amounts allocated to his Accounts between such Funds in such increments as the Committee may prescribe. If a Member fails to make a proper designation, then his Accounts shall be deemed to be
invested in the default Fund or Funds designated by the Committee from time to time in a uniform and nondiscriminatory manner. 

  
 - 8 -

 (b) Subject to any limitations as proscribed by the Committee, a Member may
be given the opportunity to change his deemed investment designation for future amounts to be allocated to his Accounts. Any such change shall be made in accordance with the procedures established by the Committee, and the frequency of such changes
may be limited by the Committee. 
 (c) A Member may also be given the opportunity to elect to convert his deemed
investment designation with respect to the amounts already allocated to his Accounts. Any such conversion shall be made in accordance with the procedures established by the Committee, and the frequency of such conversions may be limited by the
Committee. 
 (d) The Committee may elect to establish a hypothetical investment fund that holds shares of the
Parent’s common stock (the “Stock Fund”). If such a fund is established, a Participant may elect to invest his Accounts in such fund. The Committee may in its sole discretion refuse to recognize Participant elections that it
determines may cause the Participant’s Accounts to become subject to the short-swing profit provisions of Section 16b of the Securities Exchange Act of 1934 and establish special election procedures for Participants subject to
Section 16 of such Act. In the event that any amounts are deferred under this Plan pursuant to Subsection 3.1(e) and such amounts originally would have been paid in shares of the Parent’s common stock, such amounts shall be invested in the
Stock Fund and shall remain invested in such fund until the earlier of (i) the date the Committee elects to eliminate the Stock Fund, or (ii) the date the Committee formally acts to allow the reinvestment of such amounts in any alternate
investment Fund provided under the Plan’s terms. 
 4.2 Director Members Stock Fees. A Director Member’s
deferral with respect to his Director’s Fees payable in Company stock automatically shall be deemed invested in the Company Stock Fund. 
 4.3 Earnings. The income, interest, dividends, investment gains and losses of a Fund shall be credited as reinvested in that Fund. 

4.4 Fund Changes. Notwithstanding anything herein to the contrary, at any time the Committee may change the Funds made
available for purposes of the Plan, including “freezing” and deleting current Funds. 
 V. 

Vested Interests 
 5.1 Accounts. 
 (a) A Member shall have a 100%
vested (nonforfeitable) interest in his Deferral Account at all times. 
 (b) An Employee Member’s Company
Account shall be vested to the same extent as an Employee Member’s Employer Non-Elective Contribution Account under the ESP. In addition, a Member’s Company Account automatically shall be 100% vested upon a Change in Control of Sterling
Bancshares, Inc., as such term is defined in its stock option plan from time to time. 

  
 - 9 -

 (c) A Member’s Grandfathered Account, if any, shall be 100% vested.

 VI. 
 In-Service Distributions 
 6.1 Unforeseeable Emergency
Benefit. In the event that the Committee, upon written petition of a Member, determines in its sole discretion that such Member has suffered an Unforeseeable Emergency, such Member shall be entitled to a benefit in an amount not to exceed
the lesser of (i) the amount determined by the Committee as necessary to satisfy such Unforeseeable Emergency plus such amount determined by the Committee as necessary to pay taxes reasonably anticipated as a result of the distribution, after
taking into account the extent to which such hardship is or may be relieved through reimbursement or compensation by insurance or otherwise or by liquidation of the Member’s assets (to the extent the liquidation of such assets would not itself
cause severe financial hardship), or (ii) the then vested value of such Member’s Account(s). Such benefit shall be paid in a single lump sum, cash payment as soon as administratively practicable after the Committee has made its
determinations with respect to the availability and amount of such benefit. If a Member’s Account(s) are deemed to be invested in more than one Fund, such benefit shall be distributed prorata from each Fund in which such Account(s) is deemed to
be invested. In no event may the amount withdrawn exceed the amount determined by the Committee as necessary to satisfy the requirements of Section 409A of the Code. Notwithstanding anything in the Plan to the contrary, upon any Unforeseeable
Emergency withdrawal, the Member’s deferrals for such Plan Year shall automatically cease and shall not automatically resume as of the next Plan Year. 
 6.2 Restriction on In-Service Distributions. Section 6.1 shall not be applicable to a Member following his Separation from Service, and the amounts credited to such Member’s
Accounts shall be payable to such Member only in accordance with the provisions of Article VII. 
 6.3 Automatic 162(m)
Distributions. In the event that any amounts are deferred under this Plan pursuant to Subsection 3.1(f), some or all of such amounts shall be automatically distributed from the Plan during the first Plan Year in which the Committee,
acting on behalf of Parent, reasonably anticipates that the payment can be made without causing Parent to be subject to the deduction limit under Section 162(m) of the Code on the incremental increase in the Employee Member’s total annual
compensation that is paid or payable during such Plan Year. 
 VII. 

Termination Benefits 
 7.1 Amount of Benefit. The Member or, in the event of his death, the Member’s beneficiary, shall be entitled to a payment equal in value to the Member’s vested balance in
his Accounts. The time and form of such payment shall be subject to the further provisions of this Article VII. 

  
 - 10 -

 7.2 Time of Payment. 

(a) Payment of a Member’s benefit under Section 7.1 shall be made or begin as soon as administratively
practicable after the date of the Member’s Separation from Service (and in no event not later than 30 days after such Separation from Service), except the payment of the Company Account and the Deferral Account to a Member who is a Specified
Employee shall be made on the first date that is more than six months after the date of his Separation from Service (or, if earlier, the date of death of the Member), as adjusted for interim investment fund performance. Any installments otherwise
payable during such six-month period shall be paid in a lump sum on the first day after such six-month period (or death of the Member). The foregoing six-month delay shall not apply to a payment made pursuant to a qualified domestic relations order
(“QDRO”), as permitted by the regulations under Section 409A of the Code. 
 (b) Subject to the
delay requirements applicable to Specified Employees under Subsection (a) above, payment of any amounts deferred by an Employee Member pursuant to Subsection 3.1(f) shall be made immediately following such Member’s Separation from Service.

 7.3 Designation of Beneficiaries. 

(a) Each Member shall have the right to designate the beneficiary or beneficiaries to receive payment of his benefit in
the event of his death. Each such designation shall be made by executing the beneficiary designation form prescribed by the Committee and filing same with the Committee. Any such designation may be changed at any time by execution of a new
designation in accordance with this Section. 
 (b) If no such designation is on file with the Committee at the
time of the death of the Member or such designation is not effective for any reason as determined by the Committee, then the designated beneficiary or beneficiaries to receive such benefit shall be as follows: 

(i) If a Member leaves a surviving spouse, subject to any QDRO, his benefit shall be paid to such surviving spouse; and

 (ii) If a Member does not leave a surviving spouse, subject to any QDRO, his benefit shall be paid to such
Member’s executor or administrator of his estate, or to his heirs at law if there is no administration of such Member’s estate. 

  
 - 11 -

 7.4 Source of Payment of Benefits. To the extent the Trust Fund (if
established) has sufficient assets, the Trustee shall pay benefits to Members or their beneficiaries, except to the extent the Company pays the benefits directly and provides adequate evidence of such payment to the Trustee. To the extent the
Trustee does not or cannot pay benefits out of the Trust Fund, or a Trust Fund is not established, the benefits shall be paid by the Company. Any benefit payments made to a Member or for his benefit pursuant to any provision of the Plan shall be
debited to such Member’s Accounts. 
 7.5 Forms of Benefit Payments. 

(a) All benefits of Members shall be paid in cash unless invested in the Company Stock Fund, in which case shares of
Company stock shall be distributed. Benefits shall be paid in one of the following forms as elected by the Member: 
 (i) a single lump sum payment; or 
 (ii) in annual installment
payments (e.g., 1/20, 1/19, etc. of the Account balance on the installment payment date) for a term certain not to exceed 20 years (as designated by the Member). In the event of such Member’s death prior to the end of the designated installment
term, any unpaid balance shall be paid in a lump sum to his Beneficiary. 
 (b) A Member may elect, on the form
prescribed by the Committee, one of the above forms of payment. With respect to an Employee Member’s Grandfathered Account, such election must be made not later than one year prior to the date of such Member’s Separation of Service. With
respect to an Employee Member’s Company Account and Deferral Account, such payment election must be made at the time of the Member’s initial election to defer Compensation under the Plan for any period after December 31, 2004 and such
election shall apply to both an Employee Member’s Company Account and Deferral Account. Such election shall apply to all future deferrals made by the Employee Member under the Plan. In the event a Member fails to timely elect the form in which
his benefit payments are to be made, such benefits shall be paid to the Member in the form of a single lump sum. 

(c) With the consent of the Committee, an Employee Member may change his elected form of benefit payment with respect to
(i) his Grandfathered Account , provided that no such change shall be effective if made within 12 months of the date of such Member’s Separation from Service and (ii) his Company Account and Deferral Account, provided that no such
change shall be effective if (1) made within 12 months of the date of such Member’s Separation from Service, (2) the change fails to defer the date of each payment to be made under the prior election for a period of less than five
years, and (3) made less than 12 months prior to the date of the first scheduled payment. Notwithstanding anything in the Plan to the contrary, no change in a deferral election form or the form of payment may accelerate the date of payment for
any amounts already deferred under the Plan. 

  
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 (d) Notwithstanding an election to receive installments, if the value
of the Member’s Accounts on his Separation from Service is less than the applicable dollar amount under Section 402(g) (l)(B) of the Code, his Accounts shall be paid in a single lump sum. 

7.6 Cash-Out of Grandfathered Benefits. The Committee, in its sole discretion, may accelerate all or any part of the
installment payments of a terminated Member’s Grandfathered Account at any time, notwithstanding the election made by the Member. 
 7.7 Unclaimed Benefits. In the case of a benefit payable on behalf of a Member, if the Committee is unable to locate the Member or beneficiary to whom such benefit is payable, upon
the Committee’s determination thereof, such benefit shall be forfeited to the Company. Notwithstanding the foregoing, if subsequent to any such forfeiture the Member or beneficiary to whom such benefit is payable makes a valid claim for such
benefit, such forfeited benefit shall be restored to the Plan by the Company unadjusted for any subsequent earnings or losses of the deemed investments subsequent to such forfeiture. 

VIII. 

Administration of the Plan 
 8.1 Appointment of Committee. The general administration of the Plan shall be vested in the Employee Benefits Committee (the “Committee”), which shall be appointed by the HR
Programs Committee and shall consist of one or more persons. Any individual, whether or not an employee of the Company, is eligible to become a member of the Committee. 
 8.2 Term, Vacancies, Resignation, and Removal. Each member of the Committee shall serve until he resigns, dies, or is removed by the HR Programs Committee. At any time during his term
of office, a member of the Committee may resign by giving written notice to the HR Programs Committee and the Committee, such resignation to become effective upon the appointment of a substitute member or, if earlier, the lapse of thirty days after
such notice is given as herein provided. At any time during his term of office, and for any reason, a member of the Committee may be removed by the HR Programs Committee with or without cause, and the HR Programs Committee may in its discretion fill
any vacancy that may result therefrom. Any member of the Committee who is an employee of the Company shall automatically cease to be a member of the Committee as of the date he ceases to be employed by the Company or any Subsidiary. 

8.3 Self-Interest of Members. No member of the Committee shall have any right to vote or decide upon any matter
relating solely to himself under the Plan or to vote in any case in which his individual right to claim any benefit under the Plan is particularly involved. In any case in which a Committee member is so disqualified to act and the remaining members
cannot agree, the HR Programs Committee shall appoint a temporary substitute member to exercise all the powers of the disqualified member concerning the matter in which he is disqualified. 

  
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 8.4 Committee Powers and Duties. The Committee shall supervise the
administration and enforcement of the Plan according to the terms and provisions hereof and shall have all powers necessary to accomplish these purposes, including, but not by way of limitation, the right, power, authority, and duty: 

(a) To make rules, regulations, and bylaws for the administration of the Plan that are not inconsistent with the terms and
provisions hereof, and to enforce the terms of the Plan and the rules and regulations promulgated thereunder by the Committee; 
 (b) To construe in its discretion all terms, provisions, conditions, and limitations of the Plan; 
 (c) To correct any defect or to supply any omission or to reconcile any inconsistency that may appear in the Plan in such manner and to such extent as it shall deem in its discretion expedient to
effectuate the purposes of the Plan; 
 (d) To employ and compensate such accountants, attorneys, investment
advisors, and other agents, employees, and independent contractors as the Committee may deem necessary or advisable for the proper and efficient administration of the Plan; 

(e) To determine in its discretion all questions relating to eligibility; 

(f) To determine whether and when there has been a termination of a Member’s employment with the Company and its
Subsidiaries; 
 (g) To make a determination in its discretion as to the right of any person to a benefit under
the Plan and to prescribe procedures to be followed by distributees in obtaining benefits hereunder; 
 (h) To
receive and review reports from the Trustee as to the financial condition of the Trust Fund, including its receipts and disbursements; and 
 (i) To establish or designate Funds as investment options as provided in Article IV. 
 8.5 Claims Review. In any case in which a claim for Plan benefits of a Member or beneficiary is denied or modified, the Committee shall furnish written notice to the claimant within
ninety days (or within 180 days if additional information requested by the Committee necessitates an extension of the ninety-day period), which notice shall: 
 (a) State the specific reason or reasons for the denial or modification; 
 (b) Provide specific reference to pertinent Plan provisions on which the denial or modification is based; 

  
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 (c) Provide a description of any additional material or information
necessary for the Member, his beneficiary, or representative to perfect the claim and an explanation of why such material or information is necessary; and 
 (d) Explain the Plan’s claim review procedure as contained herein. 
 In the event a claim for
Plan benefits is denied or modified, if the Member, his beneficiary, or a representative of such Member or beneficiary desires to have such denial or modification reviewed, he must, within sixty days following receipt of the notice of such denial or
modification, submit a written request for review by the Committee of its initial decision. In connection with such request, the Member, his beneficiary, or the representative of such Member or beneficiary may review any pertinent documents upon
which such denial or modification was based and may submit issues and comments in writing. Within sixty days following such request for review the Committee shall, after providing a full and fair review, render its final decision in writing to the
Member, his beneficiary or the representative of such Member or beneficiary stating specific reasons for such decision and making specific references to pertinent Plan provisions upon which the decision is based. If special circumstances require an
extension of such sixty-day period, the Committee’s decision shall be rendered as soon as possible, but not later than 120 days after receipt of the request for review. If an extension of time for review is required, written notice of the
extension shall be furnished to the Member, beneficiary, or the representative of such Member or beneficiary prior to the commencement of the extension period. 
 8.6 Company to Supply Information. The Company shall supply full and timely information to the Committee, including, but not limited to, information relating to each Member’s
Compensation, termination of employment and such other pertinent facts as the Committee may require. The Company shall advise the Trustee of such of the foregoing facts as are deemed necessary for the Trustee to carry out the Trustee’s duties
under the Plan and the Trust Agreement. When making a determination in connection with the Plan, the Committee shall be entitled to rely upon the aforesaid information furnished by the Company. 

8.7 Indemnity. To the extent permitted by applicable law, the Company shall indemnify and save harmless each member
of the Committee and the HR Programs Committee against any and all expenses, liabilities and claims (including legal fees incurred to defend against such liabilities and claims) arising out of their discharge in good faith of responsibilities under
or incident to the Plan. Expenses and liabilities arising out of willful misconduct shall not be covered under this indemnity. This indemnity shall not preclude such further indemnities as may be available under insurance purchased by the Company or
provided by the Company under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, as such indemnities are permitted under applicable law. 

  
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 IX. 
 Administration of Funds 
 9.1 Payment of
Expenses. All expenses incident to the administration of the Plan and Trust, including but not limited to, legal, accounting, Trustee fees, and expenses of the Committee, may be paid by the Company and, if not paid by the Company, shall be
paid by the Trustee from the Trust Fund. 
 9.2 Trust Fund Property. All income, profits, recoveries,
contributions, forfeitures and any and all moneys, securities and properties of any kind at any time received or held by the Trustee shall be held for investment purposes as a commingled Trust Fund pursuant to the terms of the Trust Agreement. The
Committee shall maintain one or more Accounts in the name of each Member, but the maintenance of an Account designated as the Account of a Member shall not mean that such Member shall have a greater or lesser interest than that due him by operation
of the Plan and shall not be considered as segregating any funds or property from any other funds or property contained in the commingled fund. No Member shall have any title to any specific asset in the Trust Fund. 

X. 

Nature of the Plan 
 The Plan is intended to constitute an unfunded, unsecured plan of deferred compensation for tax purposes and for purposes of Title I of ERISA which is maintained for a select group of management or highly
compensated employees of the Company. Plan benefits provided under the Plan are to be paid out of the Company’s general assets. Nevertheless, subject to the terms hereof and of the Trust Agreement, the Company may, in the sole discretion of the
Committee, transfer money or other property to the Trustee and the Trustee shall pay Plan benefits to Members and their beneficiaries out of the Trust Fund on behalf of the Company. 

Sterling Bancshares, Inc., in its sole discretion, may establish the Trust and enter into the Trust Agreement. 

XI. 

Miscellaneous 
 11.1 Not Contract of Employment. The adoption and maintenance of the Plan shall not be deemed to be a contract between the Company and any person or to be consideration for the
employment of any person. Nothing herein contained shall be deemed to give any person the right to be retained in the employ of the Company or to restrict the right of the Company to discharge any person at any time nor shall the Plan be deemed to
give the Company the right to require any person to remain in the employ of the Company or to restrict any person’s right to terminate his employment at any time. 

  
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 11.2 Alienation of Interest Forbidden. The interest of a Member or his
beneficiary or beneficiaries hereunder may not be sold, transferred, assigned, or encumbered in any manner, either voluntarily or involuntarily, and any attempt so to anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge the same
shall be null and void; neither shall the benefits hereunder be liable for or subject to the debts, contracts, liabilities, engagements or torts of any person to whom such benefits or funds are payable, nor shall they be an asset in bankruptcy or
subject to garnishment, attachment or other legal or equitable proceedings. 
 11.3 Withholding. All
deferrals to and payments under the Plan shall be subject to applicable tax withholding and other deductions as shall be required of the Company under any applicable law. 
 11.4 Amendment. The HR Programs Committee may from time to time, in its discretion, amend, in whole or in part, any or all of the provisions of the Plan; provided, however, that no
amendment may be made that would materially impair the rights of a Member with respect to amounts already allocated to his Accounts. For purposes of the foregoing, no amendment that the HR Programs Committee believes is necessary or appropriate to
comply with the requirements of Section 409A of the Code shall be deemed to materially impair the rights of a Member. The Committee may also similarly amend the Plan provided that no such amendment may materially increase the obligations of the
Company hereunder. 
 11.5 Plan Termination. The HR Programs Committee may terminate the Plan in connection
with a change of control event, as defined by the regulations under Section 409A, provided that: (i) such termination is within 30 days before or 12 months following the change of control event, and (ii) all plans and other
arrangements that are treated as a single plan with this Plan for purposes of Section 409A are terminated and liquidated with respect to each Member that experienced the change of control event and all amounts deferred under such terminated
plans and arrangements are paid to the affected Members within 12 months of the date the Company takes all necessary action to terminate such plans and programs. 
 In addition, the HR Programs Committee may terminate the Plan at any time, provided that (i) all other programs that would be aggregated with this Plan, if the service provider Member under this Plan
also had deferrals under such other programs, are terminated and liquidated, (ii) no payments are made within 12 months of such termination except payments that would be made if the Plan were not terminated, (iii) all payments are made
within 24 months of the date all action to irrevocably terminate and liquidate the Plan are taken, (iv) the termination does not occur proximate to a downturn in the financial health of the Company, and (v) the Company does not adopt a new
plan that would be aggregated with any terminated plan if the same service provider participated in both within three years following the date the Company takes all action to irrevocably terminate the Plan. 

11.6 Company Stock Plan. With respect to Director Members, the provisions of Section 8 of the Sterling Bancshares,
Inc. 2003 Stock Incentive and Compensation Plan (“Stock Plan”) are incorporated herein by reference and in the event of any conflict with the terms of this Plan, the provisions of the Stock Plan shall control. This Plan, as it applies to
Director Members, shall constitute a component of the Stock Plan and not a separate plan for purposes of any shareholder approval requirements under the rules of the applicable securities exchange on which the Company stock is traded. 

  
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 11.7 Severability. If any provision of this Plan shall be held illegal
or invalid for any reason, said illegality or invalidity shall not affect the remaining provisions hereof; instead, each provision shall be fully severable and the Plan shall be construed and enforced as if said illegal or invalid provision had
never been included herein. 
 11.8 Governing Laws. All provisions of the Plan shall be construed in accordance
with the laws of Texas (without regard to any conflicts of law principles) except to the extent preempted by applicable federal law. 
 EXECUTED September 29, 2009, effective for all purposes as provided above. 
  

					
	STERLING BANCSHARES, INC.
		
	By:	 	 /s/ Wanda S. Dalton

		 	Name:	 	Wanda S. Dalton
		 	Title:	 	EVP & Chief Human Resources Officer

  
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