Document:

EXHIBIT 10.7

 Exhibit 10.7 
 BANK OF NEW ORLEANS 
 EMPLOYMENT AGREEMENT 
 This EMPLOYMENT AGREEMENT (this “Agreement”), is made and entered into as of the ____ day of ________ 2007, between Bank of New Orleans (the
“Bank”), a federally chartered savings bank which will become a wholly owned subsidiary of Louisiana Bancorp, Inc. (the “Corporation”), and John LeBlanc (the “Executive”). 
 WITNESSETH 
 WHEREAS, the Executive is
currently employed as Senior Vice President and Chief Financial Officer of the Bank; 
 WHEREAS, the Executive is currently employed as
Senior Vice President and Chief Financial Officer of the Corporation, a Louisiana corporation (the Corporation and the Bank are referred to together herein as the “Employers”); 
 WHEREAS, the Bank has adopted a Plan of Conversion pursuant to which the Bank will convert to a federally chartered stock savings bank and become a
wholly owned subsidiary of the Corporation (the “Conversion”); 
 WHEREAS, the Bank desires to assure itself of the continued
availability of the Executive’s services as provided in this Agreement; 
 WHEREAS, the Executive is willing to serve the Bank on the
terms and conditions hereinafter set forth; and 
 WHEREAS, the Executive is concurrently entering into a separate employment agreement with
the Corporation; 
 NOW THEREFORE, in consideration of the mutual agreements herein contained, and upon the other terms and conditions
hereinafter provided, the Bank and the Executive hereby agree as follows: 
 1. Definitions. The following words and terms shall have
the meanings set forth below for the purposes of this Agreement: 
 (a) Annual Compensation. The Executive’s “Annual
Compensation” for purposes of determining severance payable under this Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termination, and (ii) the cash bonus, if any, earned by the
Executive for the calendar year immediately preceding the year in which the Date of Termination occurs. 

 (b) Base Salary. “Base Salary” shall have the meaning set forth in Section 3(a)
hereof. 
 (c) Cause. Termination of the Executive’s employment for “Cause” shall mean termination because of personal
dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule or regulation (other than traffic violations or similar offenses) or
final cease-and-desist order or material breach of any provision of this Agreement. 
 (d) Change in Control. “Change in
Control” shall mean a change in the ownership of the Corporation or the Bank, a change in the effective control of the Corporation or the Bank or a change in the ownership of a substantial portion of the assets of the Corporation or the Bank,
in each case as provided under Section 409A of the Code and the regulations thereunder, provided that the Conversion shall not be deemed to constitute a Change in Control. 
 (e) Code. “Code” shall mean the Internal Revenue Code of 1986, as amended. 
 (f) Date of Termination. “Date of Termination” shall mean (i) if the Executive’s employment is terminated for Cause, the date
on which the Notice of Termination is given, and (ii) if the Executive’s employment is terminated for any other reason, the date specified in such Notice of Termination. 
 (g) Disability. “Disability” shall mean the Executive (i) is unable to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of any medically determinable physical or mental
impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan
covering employees of the Employers. 
 (h) ERISA. “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended. 
 (i) Good Reason. Termination by the Executive of the Executive’s employment for “Good Reason” shall mean
termination by the Executive following a Change in Control based on: 
 (A) Without the Executive’s express written
consent, the failure to elect or to re-elect or to appoint or to re-appoint the Executive to the offices of Senior Vice President and Chief Financial Officer of the Employers or a material adverse change made by the Employers in the Executive’s
functions, duties or responsibilities as Senior Vice President and Chief Financial Officer of the Employers; 
 (B) Without
the Executive’s express written consent, a reduction by either of the Employers in the Executive’s Base Salary as the same may be increased from time to time or, except to the extent permitted by Section 3(b) hereof, a reduction in
the package of fringe benefits provided to the Executive, taken as a whole; 
  

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 (C) The principal executive office of either of the Employers is relocated outside of the
Metairie, Louisiana area or, without the Executive’s express written consent, either of the Employers require the Executive to be based anywhere other than an area in which the Employers’ principal executive office is located, except for
required travel on business of the Employers to an extent substantially consistent with the Executive’s present business travel obligations; or 
 (D) The failure by the Bank to obtain the assumption of and agreement to perform this Agreement by any successor as contemplated in Section 9 hereof. 
 (j) IRS. IRS shall mean the Internal Revenue Service. 
 (k) Notice of Termination. Any purported termination of the Executive’s employment by the Bank for any reason, including without limitation for Cause, Disability or Retirement, or by the Executive for any
reason, including without limitation for Good Reason, shall be communicated by written “Notice of Termination” to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a dated notice which
(i) indicates the specific termination provision in this Agreement relied upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the
provision so indicated, (iii) specifies a Date of Termination, which shall be not less than thirty (30) nor more than ninety (90) days after such Notice of Termination is given, except in the case of the Bank’s termination of the
Executive’s employment for Cause, which shall be effective immediately, and (iv) is given in the manner specified in Section 10 hereof. 
 (l) Retirement. “Retirement” shall means voluntary termination by the Executive which constitutes a retirement, including early retirement, under the Bank’s 401(k) plan. 
 2. Term of Employment and Duties. 
 (a) The Bank hereby employs the Executive as Senior Vice President and Chief Financial Officer and the Executive hereby accepts said employment and agrees to render such services to the Bank on the terms and conditions set forth in this
Agreement. The terms and conditions of this Agreement shall be and remain in effect during the period of three years beginning on _____________, 2007 (the “Effective Date”) and ending on the third anniversary of the Effective Date, plus
such extensions, if any, as are provided pursuant to Section 2(b) hereof (the “Employment Period”). 
 (b) Except as provided
in Section 2(c), beginning on the Effective Date, on each day during the Employment Period, the Employment Period shall automatically be extended for one additional day, unless either the Bank, on the one hand, or the Executive, on the other
hand, elects not to extend the Agreement further by giving written notice thereof to the other party, in which case the Employment Period shall end on the third anniversary of the date on which such 

  

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written notice is given. At least annually, the Board of Directors of the Bank shall consider and review (with appropriate corporate documentation thereof,
and taking into account all relevant factors) the Executive’s performance hereunder and whether the Employment Period shall continue to be extended. If the Board of Directors determines not to extend the Employment Period, it shall provide
written notice to the Executive as set forth above. Upon termination of the Executive’s employment with the Bank for any reason whatsoever, any daily extensions provided pursuant to this Section 2(b), if not theretofore discontinued, shall
automatically cease. 
 (c) Nothing in this Agreement shall be deemed to prohibit the Bank at any time from terminating the Executive’s
employment during the Employment Period for any reason, provided that the relative rights and obligations of the Bank and the Executive in the event of any such termination shall be determined under this Agreement. 
 (d) During the term of this Agreement, the Executive shall perform such executive services for the Bank as may be consistent with his titles and from
time to time assigned to him by the Bank’s Board of Directors. 
 3. Compensation and Benefits. 
 (a) The Employers shall compensate and pay the Executive for his services during the term of this Agreement at a minimum base salary of $78,931.44 per
year (“Base Salary”), which may be increased from time to time in such amounts as may be mutually determined by the Boards of Directors of the Employers and may not be decreased without the Executive’s express written consent. In
addition to his Base Salary, the Executive shall be entitled to receive during the term of this Agreement such bonus payments as may be determined by the Boards of Directors of the Employers. 
 (b) During the term of this Agreement, the Executive shall be entitled to participate in and receive the benefits of any pension or other retirement
benefit plan, profit sharing, stock option, employee stock ownership, or other plans, benefits and privileges given to employees and executives of the Employers, to the extent commensurate with his then duties and responsibilities, as fixed by the
Boards of Directors of the Employers, as well as his Supplemental Executive Retirement Agreement with the Bank dated March 1, 2007. The Bank shall not make any changes in such plans, benefits or privileges which would adversely affect the
Executive’s rights or benefits thereunder, unless such change occurs pursuant to a program applicable to all executive officers of the Bank and does not result in a proportionately greater adverse change in the rights of or benefits to the
Executive as compared with any other executive officer of the Bank. Nothing paid to the Executive under any plan or arrangement presently in effect or made available in the future shall be deemed to be in lieu of the salary payable to the Executive
pursuant to Section 3(a) hereof. 
 (c) During the term of this Agreement, the Executive shall be entitled to paid annual vacation in
accordance with the policies as established from time to time by the Boards of Directors of the Employers. The Executive shall not be entitled to receive any additional compensation from the Employers for failure to take a vacation, nor shall the
Executive be able to accumulate unused vacation time from one year to the next, except to the extent authorized by the Boards of Directors of the Employers. 
  

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 (d) During the term of this Agreement, in keeping with past practices, the Employers shall continue to
pay club dues and assessments for the Bissonet Country Club on behalf of the Executive so that the Executive may use such club for business purposes. 
 (e) The Executive’s compensation, benefits and expenses shall be paid by the Corporation and the Bank in the same proportion as the time and services actually expended by the Executive on behalf of each
respective Employer. 
 4. Expenses. The Employers shall reimburse the Executive or otherwise provide for or pay for all reasonable
expenses incurred by the Executive in furtherance of or in connection with the business of the Employers, including, but not by way of limitation, automobile expenses and traveling expenses, and all reasonable entertainment expenses (whether
incurred at the Executive’s residence, while traveling or otherwise), subject to such reasonable documentation and policies as may be established by the Boards of Directors of the Employers. If such expenses are paid in the first instance by
the Executive, the Employers shall reimburse the Executive therefor. 
 5. Termination. 
 (a) The Bank shall have the right, at any time upon prior Notice of Termination, to terminate the Executive’s employment hereunder for any reason,
including without limitation termination for Cause, Disability or Retirement, and the Executive shall have the right, upon prior Notice of Termination, to terminate his employment hereunder for any reason. 
 (b) In the event that (i) the Executive’s employment is terminated by the Bank for Cause or (ii) the Executive terminates his employment
hereunder other than for Disability, Retirement, death or Good Reason, the Executive shall have no right pursuant to this Agreement to compensation or other benefits for any period after the applicable Date of Termination. 
 (c) In the event that the Executive’s employment is terminated as a result of Disability, Retirement or the Executive’s death during the term
of this Agreement, the Executive shall have no right pursuant to this Agreement to compensation or other benefits for any period after the applicable Date of Termination. 
 (d) In the event that (i) the Executive’s employment is terminated by the Bank for other than Cause, Disability, Retirement or the Executive’s death or (ii) such employment is terminated by the
Executive (a) due to a material breach of this Agreement by the Bank, which breach has not been cured within fifteen (15) days after a written notice of non-compliance has been given by the Executive to the Employers, or (b) for Good
Reason, then the Bank shall, subject to the provisions of Section 6 hereof, if applicable, 
  

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 (A) pay to the Executive, in a lump sum as of the Date of Termination, a cash severance amount equal to
three (3) times that portion of the Executive’s Annual Compensation paid by the Bank, 
 (B) maintain and provide for a period
ending at the earlier of (i) thirty-six (36) months after the Date of Termination or (ii) the date of the Executive’s full-time employment by another employer (provided that the Executive is entitled under the terms of such
employment to benefits substantially similar to those described in this subparagraph (B)), at no cost to the Executive, the Executive’s continued participation in all group insurance, life insurance, health and accident, disability and other
“employee welfare benefit plans” within the meaning of Section 3(l) of ERISA offered by the Bank in which the Executive was entitled to participate immediately prior to the Date of Termination (other than the continuation of any
vacation time, sick leave or similar leave), subject to subparagraphs (C) and (D) below, 
 (C) in the event that the
Executive’s participation in any plan, program or arrangement as provided in subparagraph (B) of this Section 5(d) is barred, or during such period any such plan, program or arrangement is discontinued or the benefits thereunder are
materially reduced, the Bank shall arrange to provide the Executive with benefits substantially similar to those which the Executive was entitled to receive under such plans, programs and arrangements immediately prior to the Date of Termination,
and 
 (D) if the provision of any of the benefits covered by Section 5(d)(B) or (C) would trigger the 20% tax and interest
penalties under Section 409A of the Code either due to the nature of such benefit or the length of time it is being provided, then the benefit(s) that would trigger such tax and interest penalties due to the nature of such benefit shall not be
provided at all and the benefit(s) that would trigger the tax and interest penalties if provided beyond the “limited period of time” set forth in the regulations under Section 409A shall not be provided beyond such limited period of
time (the “Excluded Benefits”), and in lieu of the Excluded Benefits the Employers shall pay to the Executive, in a lump sum within 30 days following termination of employment or within 30 days after such determination should it occur
after termination of employment, a cash amount equal to the cost to the Employers of providing the Excluded Benefits. 
 6. Limitation of
Benefits under Certain Circumstances. If the payments and benefits pursuant to Section 5 hereof, either alone or together with other payments and benefits which the Executive has the right to receive from the Bank, would constitute a
“parachute payment” under Section 280G of the Code, then the payments and benefits payable by the Bank pursuant to Section 5 hereof shall be reduced by the minimum amount necessary to result in no portion of the payments and
benefits payable by the Bank under Section 5 being non-deductible to the Bank pursuant to Section 280G of the Code and subject to the excise tax imposed under Section 4999 of the Code. If the payments and benefits under Section 5
are required to be reduced, the cash severance shall be reduced first, followed by a reduction in the fringe benefits. The determination of any reduction in the payments and benefits to be made pursuant to Section 5 shall be based upon the
opinion of independent tax counsel selected by the Bank and paid by the Bank. Such counsel shall promptly prepare the foregoing opinion, but in no event later than thirty (30) days from the Date of Termination, and may use such actuaries as
such counsel deems 

  

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necessary or advisable for the purpose. Nothing contained herein shall result in a reduction of any payments or benefits to which the Executive may be
entitled upon termination of employment under any circumstances other than as specified in this Section 6, or a reduction in the payments and benefits specified in Section 5 below zero. 
 7. Mitigation; Exclusivity of Benefits. 
 (a) The Executive shall not be required to mitigate the amount of any benefits hereunder by seeking other employment or otherwise, nor shall the amount of any such benefits be reduced by any compensation earned by the Executive as a result
of employment by another employer after the Date of Termination or otherwise, except as set forth in Section 5(d)(B) above. 
 (b) The
specific arrangements referred to herein are not intended to exclude any other benefits which may be available to the Executive upon a termination of employment with the Employers pursuant to employee benefit plans of the Employers or otherwise.

 8. Withholding. All payments required to be made by the Bank hereunder to the Executive shall be subject to the withholding of such
amounts, if any, relating to tax and other payroll deductions as the Bank shall determine are required to be withheld pursuant to any applicable law or regulation. 
 9. Assignability. The Bank may assign this Agreement and its rights and obligations hereunder in whole, but not in part, to any corporation, bank or other entity with or into which the Bank may hereafter merge
or consolidate or to which the Bank may transfer all or substantially all of its assets, if in any such case said corporation, bank or other entity shall by operation of law or expressly in writing assume all obligations of the Bank hereunder as
fully as if it had been originally made a party hereto, but may not otherwise assign this Agreement or its rights and obligations hereunder. The Executive may not assign or transfer this Agreement or any rights or obligations hereunder. 

10. Notice. For the purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered or mailed by certified or registered mail, return receipt requested, postage prepaid, addressed to the respective addresses set forth below: 
  

			
	To the Bank:	  	Secretary
		  	Bank of New Orleans
		  	1600 Veterans Memorial Blvd.
		  	Metairie, Louisiana 70005
		
	To the Corporation:	  	Secretary
		  	Louisiana Bancorp, Inc.
		  	1600 Veterans Memorial Blvd.
		  	Metairie, Louisiana 70005

  

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	To the Executive:	  	John LeBlanc
		  	At the address last appearing on
		  	the personnel records of the Employers

 11. Amendment; Waiver. No provisions of this Agreement may be modified, waived or
discharged unless such waiver, modification or discharge is agreed to in writing signed by the Executive and such officer or officers as may be specifically designated by the Board of Directors of the Bank to sign on its behalf. No waiver by any
party hereto at any time of any breach by any other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at
the same or at any prior or subsequent time. In addition, notwithstanding anything in this Agreement to the contrary, the Bank may amend in good faith any terms of this Agreement, including retroactively, in order to comply with Section 409A of
the Code. 
 12. Governing Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the
laws of the United States where applicable and otherwise by the substantive laws of the State of Louisiana. 
 13. Nature of
Obligations. Nothing contained herein shall create or require the Bank to create a trust of any kind to fund any benefits which may be payable hereunder, and to the extent that the Executive acquires a right to receive benefits from the Bank
hereunder, such right shall be no greater than the right of any unsecured general creditor of the Bank. 
 14. Headings. The section
headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
 15. Validity. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provisions of this Agreement, which shall remain in full force
and effect. 
 16. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an
original but all of which together will constitute one and the same instrument. 
 17. Regulatory Actions. The following provisions
shall be applicable to the parties to the extent that they are required to be included in employment agreements between a savings bank and its employees pursuant to Section 563.39(b) of the Office of Thrift Supervision (“OTS”) Rules
and Regulations, 12 C.F.R. §563.39(b), or any successor thereto, and shall be controlling in the event of a conflict with any other provision of this Agreement, including without limitation Section 5 hereof. 
 (a) If the Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s affairs pursuant to
notice served under Section 8(e)(3) or Section 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”)(12 U.S.C. §§1818(e)(3) and 1818(g)(1)), the Bank’s obligations under this Agreement shall be suspended as of the
date of 

  

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service, unless stayed by appropriate proceedings. If the charges in the notice are dismissed, the Bank may, in its discretion: (i) pay the Executive
all or part of the compensation withheld while its obligations under this Agreement were suspended, and (ii) reinstate (in whole or in part) any of its obligations which were suspended. 
 (b) If the Executive is removed from office and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued
under Section 8(e)(4) or Section 8(g)(1) of the FDIA (12 U.S.C. §§1818(e)(4) and (g)(1)), all obligations of the Bank under this Agreement shall terminate as of the effective date of the order, but vested rights of the Executive
and the Bank as of the date of termination shall not be affected. 
 (c) If the Bank is in default, as defined in Section 3(x)(1) of the
FDIA (12 U.S.C. §1813(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but vested rights of the Executive and the Bank as of the date of termination shall not be affected. 
 (d) All obligations under this Agreement shall be terminated pursuant to 12 C.F.R. §563.39(b)(5) (except to the extent that it is determined that
continuation of the Agreement for the continued operation of the Bank is necessary): (i) by the Director of the OTS, or his/her designee, at the time the Federal Deposit Insurance Corporation (“FDIC”) enters into an agreement to
provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the FDIA (12 U.S.C. §1823(c)); or (ii) by the Director of the OTS, or his/her designee, at the time the Director or his/her designee
approves a supervisory merger to resolve problems related to operation of the Bank or when the Bank is determined by the Director of the OTS to be in an unsafe or unsound condition, but vested rights of the Executive and the Employers as of the date
of termination shall not be affected. 
 18. Regulatory Prohibition. Notwithstanding any other provision of this Agreement to the
contrary, any payments made to the Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the FDIA (12 U.S.C. §1828(k)) and 12 C.F.R. Part 359. 
 19. Entire Agreement. This Agreement embodies the entire agreement between the Bank and the Executive with respect to the matters agreed to
herein. All prior agreements between the Bank and the Executive with respect to the matters agreed to herein are hereby superseded and shall have no force or effect. Notwithstanding the foregoing, nothing contained in this Agreement shall affect the
agreement of even date being entered into between the Corporation and the Executive. 
  

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 IN WITNESS WHEREOF, this Agreement has been executed as of the date first above written. 
  

									
	Attest:	 		 	BANK OF NEW ORLEANS
				
	  	 		 	By:	 	  
	Ivan J. Miestchovich	 		 		 	Gordon K. Konrad
	Corporate Secretary	 		 		 	Chairman of the Compensation Committee
			
		 		 	EXECUTIVE
				
		 		 	By:	 	  
		 		 		 	John LeBlanc

  

 10Supplemental Indenture

 Exhibit 4.1 
 SUPPLEMENTAL INDENTURE 
 dated as of April 30, 2007 
 among 
 FASTENTECH, INC. 
 as Issuer 
 THE FERRY CAP & SET SCREW
COMPANY 
 NELSON STUD WELDING, INC. 
 GEAR & BROACH (DE), INC. 
 PROGRESSIVE STAMPING CO. (DE), INC. 
 GENERAL PRODUCTS, AEROSPACE & DEFENSE LLC 
 FASTENTECH MICHIGAN HOLDINGS, INC.

 NELSON STUD WELDING INTERNATIONAL, INC. 
 SPIEGELBERG MANUFACTURING, INC. 
 FASTENTECH DELAWARE HOLDINGS, INC. 
 SPECIALTY BAR PRODUCTS COMPANY 
 INTEGRATED ENERGY TECHNOLOGIES, INC. 
 BNC & ASSOCIATES, INC. 
 CRITICAL
COMPONENT PROCESSING LLC 
 BULLDOG BARRELS, LLC 
 ERIE BOLT CORPORATION 
 MECO, INC. 
 GCE INDUSTRIES, INC. 
 SPUN METALS, INC. 
 ACRALINE PRODUCTS, INC. 
 ALPHA FASTENING
SYSTEMS, INC. 
 ALPHA STUD WELD INCORPORATED 
 NEW WESTERN STUD WELDING, INC. 
 REFRACTORY ANCHORS OF TEXAS, INC. 
 SKN BRAKE PARTS, INC. 
 WEBB MACHINE PRODUCTS
COMPANY 
 STUD WELDING ASSOCIATES, INC. and 
 AMERICAN STUD WELDING, INC. 
 as Guarantors 
 –and– 

 THE BANK OF NEW YORK TRUST COMPANY, N.A, 
 as Trustee 
 in respect of 
 11-1/2% Senior Subordinated Notes due 2011 
  

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 This SUPPLEMENTAL INDENTURE (the “Supplemental Indenture”), dated as of
April 30, 2007, is by and among FastenTech, Inc., a Delaware corporation, (the “Issuer”), the subsidiary guarantors listed on the signature pages hereto (each a “Guarantor”) and The Bank of New York Trust
Company, N.A. (formerly BNY Midwest Trust Company, N.A.), as trustee (the “Trustee”). 
 Recitals 
 A. The Issuer is a wholly owned subsidiary of FasTech, Inc., a Delaware corporation (the “Parent”). The Parent, Dundee Holding, Inc., a
Delaware corporation (“Holding”), Dundee MergerCo, Inc., a Delaware corporation (“MergerCo”), Doncasters Group Ltd., a company incorporated in England and Wales (“Doncasters”), and the Stockholder
Representative named therein, have entered into that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of February 23, 2007, pursuant to which MergerCo will merge with and into the Parent, with the Parent
being the surviving company and a wholly-owned subsidiary of Holding. Holding is an indirect, wholly owned subsidiary of Doncasters. 
 B.
The Issuer, the Guarantors and the Trustee are parties to that certain Indenture dated May 1, 2003 (as amended and supplemented, the “Indenture”), which Indenture governs the 11-1/2% Senior Subordinated Notes due 2011 (the
“Notes”), issued by the Issuer. 
 C. The Issuer commenced a cash tender offer (the “Offer”) to acquire all
of the outstanding Notes of the Issuer, upon the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated March 22, 2007 (the “Statement”). 
 D. The completion of the Merger Agreement and the Offer and the respective obligations of the parties thereto are subject to the Issuer, the Guarantors
and the Trustee entering into, executing and delivering the Supplemental Indenture. 
 E. The Issuer has solicited (the
“Solicitation”) from the Holders of the Notes consents (the “Consents”) to amend certain provisions of the Indenture to eliminate certain of the restrictive covenants, which would thereupon cease to have any force
or effect (the “Proposed Amendments”). 
 F. Pursuant to the Solicitation, the Issuer has obtained from the Holders (as
defined in the Indenture) of Notes such number of Consents (excluding with respect to any Notes owned by the Issuer or any of its affiliates) as are sufficient in accordance with Section 9.02 of the Indenture to approve and implement the
Proposed Amendments. 
 G. The Offer and the Solicitation (including as to the Proposed Amendments) are conditioned upon the satisfaction of
the “Minimum Tender Condition,” the “Merger Condition,” the “Supplemental Indenture Condition” (as such terms are defined in the Statement) and such additional conditions as are set forth in the Statement. 

 H. The Issuer desires to execute and deliver, and has requested the Trustee to join with the Issuer and
the Guarantors in the execution and delivery of, this Supplemental Indenture for the purpose of amending the Indenture to effect the Proposed Amendments. However, the amendments set forth in this Supplemental Indenture shall not become effective or
operative until the conditions set forth in the Statement have been satisfied and the Notes tendered in connection with the Offer and Solicitation are accepted for purchase by the Issuer (the “Acceptance Date”). 
 I. Pursuant to Section 9.02 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 
 Agreement 
 Now therefore, in
consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, the Guarantors and the Trustee covenant and agree as follows: 
 1. Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 
 2. Proposed Amendments. Effective as of, and subject to, the Acceptance Date, the Indenture is hereby amended as follows: 
 (a) The section headings or captions and the complete text of each of the following Sections of the Indenture are hereby deleted in their
entirety and replaced in their entirety with the phrase “[Intentionally Omitted]”: Section 4.05 (Maintenance of Properties and Insurance); Section 4.06 (Compliance Certificate; Notice of Default); Section 4.09 (Change of
Control); Section 4.10 (Limitation on Indebtedness); Section 4.11 (Limitation on Restricted Payments); Section 4.12 (Limitation on Liens); Section 4.13 (Limitation on Sales of Assets and Subsidiary Stock); Section 4.14
(Limitation on Affiliate Transactions); Section 4.15 (Limitation on Restrictions on Distributions from Restricted Subsidiaries); Section 4.16 (Future Guarantors); Section 4.18 (SEC Reports); and Section 4.19 (Limitation on Sales
of Capital Stock of Restricted Subsidiaries). 
 (e) Section 6.01 (Events of Default) is hereby amended to read in its
entirety as set forth on Schedule A hereto. 
 (f) All references in the Indenture to provisions that have been deleted
as a result of the amendments set forth in this Supplemental Indenture are also hereby deleted in their entirety. 
 3. Effect and
Operation of Supplemental Indenture. 
 (a) This Supplemental Indenture shall be effective and binding immediately upon
its execution by the parties but, notwithstanding anything in the Indenture or this Supplemental Indenture to the contrary, the amendments to the Indenture set forth in or pursuant 

  

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to Section 2 of this Supplemental Indenture shall not become operative until the Acceptance Date and the Indenture will remain in effect in its
current form until such amendments become operative. If the Offer and the Solicitation are terminated, withdrawn or otherwise not completed on or before June 15, 2007, this Supplemental Indenture will have no force or effect and the amendments
to the Indenture set forth in or pursuant to Section 2 of this Supplemental Indenture will not become operative. 
 (b)
Except as modified or amended by this Supplemental Indenture, all provisions of the Indenture shall remain in full force and effect. In the event of conflict between the terms and conditions contained in the Notes and those contained in the
Indenture, as modified and amended by this Supplemental Indenture, the provisions of the Indenture, as modified and amended by this Supplemental Indenture, shall control. 
 (c) The Trustee accepts and agrees to comply with the modification of the Indenture effected by this Supplemental Indenture, but only upon
the terms and conditions set forth in the Indenture. Without limiting the generality of the foregoing, the Trustee assumes no responsibility for the correctness of the recitals herein contained, which shall be taken as the statements of the Issuer.
The Trustee makes no representation and shall have no responsibility as to the validity and sufficiency of this Supplemental Indenture or the proper authorization or the due execution hereof by the Issuer. 
 (d) Except as expressly amended in or pursuant to Section 2 of this Supplemental Indenture, the Indenture is in all respects
ratified and confirmed by the parties and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore
or hereafter authenticated and delivered shall be bound hereby. 
 4. Interpretation. Upon the execution and delivery of this
Supplemental Indenture, the Indenture shall be modified and amended in accordance with this Supplemental Indenture as of (and subject to) the Acceptance Date, and all the terms and conditions of the Indenture and this Supplemental Indenture shall be
read together as though they constitute one instrument, except that, in case of conflict, the provisions of this Supplemental Indenture shall control. The Indenture, as modified and amended by this Supplemental Indenture, is hereby ratified and
confirmed in all respects and shall bind every Holder of the Notes. 
 5. Governing Law. This Supplemental Indenture will be governed
by and construed in accordance with the laws of the State of New York, as applied to contracts made and performed within the State of New York, without regard to principles of conflicts of law. 
 6. Counterparts. This Supplemental Indenture may be executed in one or more counterparts, each of which shall be an original, but all of which
together shall constitute one and the same document. 
 7. Effect of Headings. The Section headings herein are for convenience only
and shall not affect the construction hereof. 
  

 3 

 8. Conflict with Trust Indenture Act. If any provision in this Supplemental Indenture limits,
contravenes or conflicts with any provision of the Trust Indenture Act of 1939, as amended (the “TIA”), that is required under the TIA to be a part of or govern any provision of this Supplemental Indenture, such provision of the TIA
shall control. If any provision of this Supplemental Indenture modifies or excludes any provision of the TIA that may be so modified or excluded, such provision of the TIA shall be deemed to apply to the Indenture as so modified or excluded by this
Supplemental Indenture, as the case may be. 
 9. Separability Clause. In case any one or more of the provisions in this Supplemental
Indenture shall be held invalid, illegal or unenforceable, in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions shall not in any way be affected or
impaired thereby, it being intended that all of the provisions hereof shall be enforceable to the full extent permitted by law and the parties hereto shall use reasonable commercial efforts to enter into an amendment to this Supplemental Indenture
to provide for effectuating the intent and purpose of the provision so determined to be invalid, illegal or unenforceable. 
 10.
Indenture Generally. Except as supplemented herein, the Indenture remains in full force and effect. 
 [remainder of the page
intentionally left blank] 
  

 4 

 In witness whereof, each of the parties has caused this Supplemental Indenture to be executed as of the
date first written above by their respective officers thereunto duly authorized. 
  

					
	FASTENTECH, INC.
		
	By:	 	/s/ Michael R. Elia
		 	Name:	 	Michael R. Elia
		 	Title:	 	Senior Vice President and Chief
		 		 	Financial Officer
	
	GUARANTORS:
	
	THE FERRY CAP & SET SCREW COMPANY
	NELSON STUD WELDING, INC.
	GEAR & BROACH (DE), INC.
	PROGRESSIVE STAMPING CO. (DE), INC.
	 GENERAL PRODUCTS, AEROSPACE &
 DEFENSE LLC

	FASTENTECH MICHIGAN HOLDINGS, INC.
	NELSON STUD WELDING INTERNATIONAL, INC.
	SPIEGELBERG MANUFACTURING, INC.
	FASTENTECH DELAWARE HOLDINGS, INC.
	SPECIALTY BAR PRODUCTS COMPANY
	 INTEGRATED ENERGY TECHNOLOGIES,
 INC.

	BNC & ASSOCIATES, INC.
	CRITICAL COMPONENT PROCESSING LLC
	BULLDOG BARRELS, LLC
	ERIE BOLT CORPORATION
	MECO, INC.
	GCE INDUSTRIES, INC.
	SPUN METALS, INC.
	ACRALINE PRODUCTS, INC.
	ALPHA FASTENING SYSTEMS, INC.
	ALPHA STUD WELD INCORPORATED
	NEW WESTERN STUD WELDING, INC.

					
	REFRACTORY ANCHORS OF TEXAS, INC.
	 SKN BRAKE PARTS, INC.
 WEBB MACHINE
PRODUCTS COMPANY
 STUD WELDING ASSOCIATES, INC.
 AMERICAN STUD WELDING, INC.

		
	By:	 	/s/ Michael R. Elia
		 	Name:	 	Michael R. Elia
		 	Title:	 	Authorized Officer

					
	
	 THE BANK OF NEW YORK TRUST
 COMPANY, N.A.

		
	By:	 	/s/ D.G. Donovan
		 	Name:	 	D.G. Donovan
		 	Title:	 	Vice President

 Schedule A 
 SECTION 6.01. Events of Default. 
 Each of the following is an “Event of Default”: 
 (1) default by the Company in any payment of interest (including Additional Interest as required by the Registration Rights Agreement) on any Note when
due and payable, continued for 30 days (whether or not such payment is prohibited by the subordination provisions of this Indenture); 
 (2)
default by the Company in the payment of principal of or premium, if any, on any Note when due and payable at its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or otherwise (whether or not such payment is
prohibited by the subordination provisions of this Indenture); 
 (3) failure by the Company or any Guarantor to comply with its obligations
described in Article Five; 
 (4) failure by the Company to comply for 30 days after the notice specified below with any of its obligations
under Article Four; 
 (5) failure by the Company to comply for 60 days after the notice specified below with its other agreements contained
in this Indenture; 
 (6) default under any mortgage, indenture or instrument under which there may be issued or by which there may be
secured or evidenced any Indebtedness for money borrowed by the Company or any Restricted Subsidiary (or the payment of which is Guaranteed by the Company or any Restricted Subsidiary), other than Indebtedness owed to the Company or a Restricted
Subsidiary, whether such Indebtedness or Guarantee now exists or is created after the date of this Indenture, which default: 
 (a) is caused by a failure to pay principal of, or interest or premium, if any, on such Indebtedness before the expiration of the grace period provided in such Indebtedness; or 
 (b) results in the acceleration of such Indebtedness before its maturity; 
 and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so
accelerated, aggregates $5,000,000 or more; 
 (7) a court having jurisdiction in the premises enters (a) a decree or order for relief
in respect of the Company or any of its Significant Subsidiaries or group of Restricted Subsidiaries 

 
that, taken together (as of the latest available financial statements for the Company and the Restricted Subsidiaries), would constitute a Significant
Subsidiary in an involuntary case or proceeding under any applicable federal or state bankruptcy, insolvency, reorganization or other similar law or (b) a decree or order adjudging the Company or any of its Significant Subsidiaries or group of
Restricted Subsidiaries that, taken together (as of the latest available financial statements for the Company and the Restricted Subsidiaries), would constitute a Significant Subsidiary bankrupt or insolvent, or approving as properly filed a
petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company or any of its Significant Subsidiaries or group of Restricted Subsidiaries that, taken together (as of the latest available financial statements
for the Company and the Restricted Subsidiaries), would constitute a Significant Subsidiary under any applicable Federal or state law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the
Company or any of its Significant Subsidiaries or group of Restricted Subsidiaries that, taken together (as of the latest available financial statements for the Company and the Restricted Subsidiaries), would constitute a Significant Subsidiary or
of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and any such decree or order of the type in clause (a) or (b) above remains unstayed and in effect for a period of 60 consecutive days;

 (8) the Company or any of its Significant Subsidiaries or group of Restricted Subsidiaries that, taken together (as of the latest
available financial statements for the Company and the Restricted Subsidiaries), would constitute a Significant Subsidiary: 
 (a) commences a voluntary case or proceeding under any applicable federal or state bankruptcy, insolvency, reorganization or other similar law or any other case or proceeding to be adjudicated a bankrupt or insolvent; or 
 (b) consents to the entry of a decree or order for relief in respect of the Company or any of its Significant Subsidiaries or group of
Restricted Subsidiaries that, taken together (as of the latest available financial statements for the Company and the Restricted Subsidiaries), would constitute a Significant Subsidiary in an involuntary case or proceeding under any applicable
federal or state bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against the Company or any of its Significant Subsidiaries or group of Restricted Subsidiaries
that, taken together (as of the latest available financial statements for the Company and the Restricted Subsidiaries), would constitute a Significant Subsidiary; or 
 (c) files a petition or answer or consent seeking reorganization or relief under any applicable Federal or state law; or 
 (d) consents to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee,
trustee, sequestrator or similar official of the Company or any of its Significant Subsidiaries or group of Restricted Subsidiaries that, taken together (as of the latest available financial statements for the Company and the Restricted
Subsidiaries), would constitute a Significant Subsidiary or of any substantial part of its property; or 

 (e) makes an assignment for the benefit of creditors; or 
 (f) admits in writing its inability to pay its debts generally as they become due; 
 (9) failure by the Company or any Significant Subsidiary or group of Restricted Subsidiaries that, taken together (as of the latest available financial
statements for the Company and the Restricted Subsidiaries), would constitute a Significant Subsidiary to pay final judgments aggregating in excess of $5,000,000 or its foreign currency equivalent (net of any amounts for which a reputable and
creditworthy insurance company has acknowledged liability in writing), which judgments are not paid, discharged or stayed for a period of 60 days; or 
 (10) any Subsidiary Guarantee ceases to be in full force and effect (except as contemplated by the terms of the Subsidiary Guarantee and this Indenture) or is declared null and void in a judicial proceeding or any
Guarantor denies or disaffirms its obligations under this Indenture or its Subsidiary Guarantee. 
 Notwithstanding anything to the contrary herein, a
Default under clause (4) or (5) of this Section 6.01 will not constitute an Event of Default until the Trustee or the Holders of at least 25% in principal amount of the outstanding Notes notify the Company of the Default and the
Company does not cure such Default within the time specified in such clause (4) or (5) after the receipt of such notice.

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