Document:

SECOND AMENDMENT TO THE

RECEIVABLES PURCHASE AGREEMENT

 

This SECOND AMENDMENT
TO THE RECEIVABLES PURCHASE AGREEMENT (this “Amendment”), dated as of March 4, 2013, is entered into by and
among the following parties:

 

		(i)	MOOG RECEIVABLES LLC, a Delaware limited liability company, as Seller;

 

		(ii)	MOOG INC., an New York corporation, as Servicer;

 

		(iii)	PNC BANK, NATIONAL ASSOCIATION, as Administrator; and

 

		(iv)	MARKET STREET FUNDING LLC, a Delaware limited liability company, as the Issuer.

 

Capitalized terms used
but not otherwise defined herein (including such terms used above) have the respective meanings assigned thereto in the Receivables
Purchase Agreement described below.

 

BACKGROUND

 

The parties hereto
have entered into a Receivables Purchase Agreement, dated as of March 5, 2012 (as amended, restated, supplemented or otherwise
modified through the date hereof, the “Receivables Purchase Agreement”) and desire to amend the Receivables
Purchase Agreement as set forth herein.

 

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree
as follows:

 

SECTION 1.         Amendments
to the Receivables Purchase Agreement. The Receivables Purchase Agreement is hereby amended as follows:

 

(a)         Clause (a)
of the definition of “Dilution Ratio” set forth in Exhibit I to the Receivables Purchase Agreement is
replaced in its entirety with the following:

 

(a) the Dilution
for such Fiscal Month, by

 

(b)         The definition
of “Dilution Volatility Component” set forth in Exhibit I to the Receivables Purchase Agreement is amended
by replacing the number “two” where it appears in clauses (a)(i) and (b)(i) thereof with the number “three”.

 

(c)         The definition
of “Eligible Receivable” set forth in Exhibit I to the Receivables Purchase Agreement is amended as follows:

 

(i)         clause
(r) thereof is replaced in its entirety with the following:

 

(r) that
is not a Moog Component Group Receivable, unless and until such time, if any, that the Administrator has received such information
and reports with respect to Moog Component Group Receivables, in form and substance satisfactory to the Administrator, as the Administrator
has requested from the Seller or the Servicer.

 

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(ii)         the
paragraph immediately following existing clause (r) thereof is deleted in its entirety.

 

(d)         The definition
of “Excluded Receivable” set forth in Exhibit I to the Receivables Purchase Agreement is replaced in
its entirety with the following:

 

“Excluded
Receivable” means any Receivable (a) that is a Moog Component Group Receivable, unless and until such time, if any, that
the Seller or the Servicer has notified the Administrator in writing that Moog Component Group Receivables
shall no longer be “Excluded Receivables”, (b) of Berkeley Process Control, a business division or group of Moog, (c) owing
by Moog or any Subsidiary of Moog or (d) that has been or is generated by a business (i) all
or substantially all the assets of which are acquired by any Originator or (ii) that is merged into any Originator, in either case,
after the date of this Agreement (any such business described in clause (i) and (ii), being a “New Business”);
provided, however, if any Receivable of a New Business is being accounted for or has been at any time accounted for
together with the other Receivables of any Originator (and not with a separate division marker) under the MBS Accounting System
(as such system may be modified or replaced from time to time), such Receivable is not an “Excluded Receivable”.

 

(e)         The definition
of “Facility Termination Date” set forth in Exhibit I to the Receivables Purchase Agreement is amended
by replacing the date “March 4, 2013” where it appears therein with the date “March 3, 2014”.

 

(f)         The defined
term “________ Receivables” and the definition thereof are deleted in their entirety from Exhibit I to
the Receivables Purchase Agreement.

 

(g)         The following
defined terms and definitions thereof are added to Exhibit I to the Receivables Purchase Agreement in appropriate alphabetical
order:

 

“Dilution”
means, with respect to any Fiscal Month, the aggregate amount of Collections deemed to have been received by Seller pursuant to
Section 1.4(e)(i) of the Agreement during such Fiscal Month excluding any such deemed Collections on Dilution Excluded Receivables.

 

“Dilution
Excluded Receivable” means, from time to time, any Receivable for which each of the following criteria have been satisfied:
(i) the Seller, the Servicer or any Originator has sent a credit memo to, or entered into any other agreement or arrangement with,
the related Obligor, the effect of which is to cancel the related invoice or bill sent to the related Obligor with respect to such
Receivable, (ii) the amount set forth in such cancelled invoice or bill with respect to such Receivable has been earned by the
related Originator, remains owing by such Obligor and no portion thereof is the subject of any asserted dispute, offset, hold back
defense, Adverse Claim or other claim, (iii) the Seller has been deemed to have received a Collection on such Receivable as a result
of cancelling such invoice or bill in accordance with Section 1.4(e)(i) of the Agreement and (iv) the Administrator, in
its sole discretion, has (x) consented in writing to the Seller and the Servicer classifying a Receivable of such Obligor meeting
the foregoing criteria as a “Dilution Excluded Receivable” (which written consent may be sent by electronic mail) and
(y) not subsequently revoked such consent in writing.

 

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“Moog
Component Group Receivable” means any Receivable generated
by Moog Component Group, a business division or group of Moog. 

 

(h)         The
following new clause (x) is hereby added to Section 1 of Exhibit III to the Receivables Purchase Agreement
immediately following existing clause (w) thereof:

 

(x) The amount
of Dilution included in the calculation of Dilution Ratio for each Fiscal Month has been computed in accordance with the definitions
of “Dilution” and “Dilution Excluded Receivable” (and each respective term incorporated therein) and no
Obligor with respect to any Dilution Excluded Receivable has asserted any dispute, offset, hold back defense, Adverse Claim or
other claim with respect to such Dilution Excluded Receivable.

 

(i)         The
following new clause (r) is hereby added to Section 2 of Exhibit III to the Receivables Purchase Agreement
immediately following existing clause (q) thereof:

 

(r) The amount
of Dilution included in the calculation of Dilution Ratio for each Fiscal Month has been computed in accordance with the definitions
of “Dilution” and “Dilution Excluded Receivable” (and each respective term incorporated therein) and no
Obligor with respect to any Dilution Excluded Receivable has asserted any dispute, offset, hold back defense, Adverse Claim or
other claim with respect to such Dilution Excluded Receivable.

 

(j)         Clause (g)(ii)(C)
of Exhibit V to the Receivables Purchase Agreement is amended by replacing the percentage “2.5%” where it appears
therein with the percentage “5.0%”.

 

SECTION 2.         Representations
and Warranties of the Seller and Servicer. Each of the Seller and the Servicer hereby represents and warrants, as to itself,
to the Administrator and the Issuer, as follows:

 

(a)         Representations
and Warranties. Immediately after giving effect to this Amendment, the representations and warranties made by such Person in
the Transaction Documents to which it is a party are true and correct as of the date hereof (unless stated to relate solely to
an earlier date, in which case such representations or warranties were true and correct as of such earlier date).

 

(b)         Enforceability.
This Amendment and each other Transaction Document to which it is a party, as amended hereby, constitute the legal, valid and binding
obligation of such Person enforceable against such Person in accordance with its respective terms, except as such enforceability
may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights
generally and by general principles of equity, regardless of whether enforceability is considered in a proceeding in equity or
at law.

 

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(c)         No Termination
Event. No event has occurred and is continuing, or would result from the transactions contemplated hereby, that constitutes
a Termination Event or an Unmatured Termination Event.

 

(d)         Dilution
Excluded Receivable. As of the date hereof, the Subject Receivable (as defined below) satisfies each of the first three clauses
of the definition of “Dilution Excluded Receivable”, as such term is defined in this Amendment.

 

SECTION 3.         Acknowledgement
and Agreement. The Servicer hereby notifies each of the other parties hereto that (i) on or about September 20, 2012, Moog
originated a Receivable, the Obligor of which was _____________________________ and the Outstanding
Balance thereof on such date of origination was approximately $6,939,560 (such Receivable, the “Subject Receivable”)
and (ii) Moog voided such Subject Receivable on or about November 27, 2012, which after giving effect to such voiding, the Outstanding
Balance of the Subject Receivable was zero. The Administrator hereby consents to classifying the Subject Receivable as a Dilution
Excluded Receivable. Each of the parties hereto hereby acknowledge and agree that the Subject Receivable shall constitute
a Dilution Excluded Receivable for all purposes of the Receivables Purchase Agreement.

 

SECTION 4.         Effect
of Amendment. All provisions of the Receivables Purchase Agreement and the other Transaction Documents, as expressly amended
and modified by this Amendment, shall remain in full force and effect. After this Amendment becomes effective, all references in
the Receivables Purchase Agreement (or in any other Transaction Document) to “this Receivables Purchase Agreement”,
“this Agreement”, “hereof”, “herein” or words of similar effect referring to the Receivables
Purchase Agreement shall be deemed to be references to the Receivables Purchase Agreement as amended by this Amendment. This Amendment
shall not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Receivables Purchase Agreement
other than as set forth herein.

 

SECTION 5.         Effectiveness.
This Amendment shall become effective as of the date hereof upon the Administrator’s receipt of counterparts hereto duly
executed by each of the parties hereto.

 

SECTION 6.         Transaction
Document. This Amendment shall be a Transaction Document for purposes of the Receivables Purchase Agreement.

 

SECTION 7.         Counterparts.
This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when
so executed shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.
Delivery of an executed counterpart of a signature page to this Amendment by facsimile or e-mail transmission shall be effective
as delivery of a manually executed counterpart hereof.

 

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SECTION 8.         GOVERNING
LAW. THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK
(INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).

 

SECTION 9.         Section
Headings. The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation
of this Amendment, the Receivables Purchase Agreement or any provision hereof or thereof.

 

SECTION 10.        Reaffirmation
of Performance Guaranty. After giving effect to this Amendment and the transactions contemplated hereby, all of the provisions
of the Performance Guaranty shall remain in full force and effect and Moog hereby ratifies and affirms the Performance Guaranty
and acknowledges that the Performance Guaranty has continued and shall continue in full force and effect in accordance with its
terms.

 

 

[Signature
pages follow]

 

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IN WITNESS WHEREOF,
the parties hereto have executed this Amendment by their duly authorized officers as of the date first above written.

 

	 	MOOG RECEIVABLES LLC,	 
	 	as Seller	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Timothy P. Balkin	 
	 	Name:	Timothy P. Balkin	 
	 	Title:	Vice President	 
	 	 	 	 
	 	 	 	 
	 	MOOG INC.,	 
	 	individually and as Servicer	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Timothy P. Balkin	 
	 	Name:	Timothy P. Balkin	 
	 	Title:	Treasurer and Group Vice President	 

 

 

 

 

 

 

Second Amendment to the

Receivables Purchase Agreement

(Moog Receivables LLC)

    	S-1

    	 

    

 

	 	PNC BANK, NATIONAL ASSOCIATION,	 
	 	as Administrator	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ William Falcon	 
	 	Name:	William Falcon	 
	 	Title:	Vice President	 

 

 

 

 

 

 

 

 

Second Amendment to the

Receivables Purchase Agreement

(Moog Receivables LLC)

    	S-2

    	 

    

 

	 	MARKET STREET FUNDING LLC,	 
	 	as the Issuer	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Doris J. Hearn	 
	 	Name:	Doris J. Hearn	 
	 	Title:	Vice President	 

 

 

 

 

 

 

 

 

Second Amendment to the

Receivables Purchase Agreement

(Moog Receivables LLC)

    	S-3Exhibit 10.1

 

ZipRealty Inc. Management
Incentive Plan – Fiscal Year 2013

 

General Purpose: This ZipRealty Inc. (“Company”)
Management Incentive Plan – Fiscal Year 2013 (“Plan”) is designed to motivate and retain the Company’s
Eligible Employees (as defined herein) to achieve the Company’s financial and operational goals for Fiscal Year 2013, as
well as to retain such persons in the employ of the Company.

 

Duration: This Plan will be in effect for the Company’s
fiscal year ending December 31, 2013 (“Fiscal Year 2013”), meaning that the performance period determining whether
bonuses will be paid upon satisfaction of performance objectives is Fiscal Year 2013.

 

Plan Administrator: The Compensation Committee (the “Committee”)
of the Board of Directors (the “Board”) shall administer this Plan with respect to Eligible Persons who are executive
officers of the Company, and the Company’s Chief Executive Officer, in consultation with the Committee, shall administer
this Plan with respect to other Eligible Persons (as applicable, the “Administrator”).

 

Eligible Persons: Individuals eligible to earn an incentive
payment under this plan (“Eligible Persons”) include all headquarters-based “exempt” (pursuant to federal
and state wage and hour laws) employees who are employed by the Company during Fiscal Year 2013, without interruption (except as
set forth in the “Proration” section of this Plan), continuously through the date following completion of Fiscal Year
2013 when the Administrator completes its review of performance and calculates and approves the payment of bonuses under this Plan.
“Eligible Persons” specifically excludes the President of Broker Operations, Regional Vice Presidents, including Joseph
Pucillo and Jacob Stanton, and all other sales management covered pursuant to a Sales Management Incentive Plan for 2013.

 

Proration: In the sole discretion of the Administrator,
a prorated incentive may be paid under this Plan for any person who would otherwise be an Eligible Person but who became eligible
to participate in the Plan after the beginning of Fiscal Year 2013. Additionally, in the sole discretion of the Administrator,
a modified incentive amount may be paid under this Plan to any Eligible Person who works a reduced work schedule.

 

Incentive Pool: The Committee, in consultation with
the Company’s Chief Executive Officer, will establish an incentive pool of funds available for payout only if the Company
achieves its plan for both Adjusted EBITDA and revenue for Fiscal Year 2013. Thereafter, the incentive pool shall be funded as
follows:

 

		(i)	If the Company achieves its plan for Adjusted EBITDA but does not exceed that plan by at least $700,000, and the Company does
not exceed its plan for revenue by at least $1 million, then eighteen percent (18%) of Adjusted EBITDA in excess of the plan;

 

		(ii)	If the Company exceeds its plan for Adjusted EBITDA by at least $700,000, and the Company does not exceed its plan for revenue
by at least $1 million, then eighteen percent (18%) of total Adjusted EBITDA;

 

    	 

    	 

    

 

		(iii)	If the Company achieves its plan for Adjusted EBITDA but does not exceed that plan by at least $700,000, and the Company exceeds
its plan for revenue by at least $1 million, then twelve percent (12%) of all revenue in excess of the Company’s plan, in
all events to be capped at and not to exceed 35% of total Adjusted EBITDA; or

 

		(iv)	If the Company exceeds its plan for Adjusted EBITDA by at least $700,000, and the Company exceeds its plan for revenue by at
least $1 million, then both eighteen percent (18%) of total Adjusted EBITDA and twelve percent (12%) of all revenue in excess of
the Company’s plan, in all events to be capped at and not to exceed 35% of total Adjusted EBITDA.

  

For purposes of this Plan, “Adjusted
EBITDA” shall be defined as net income (loss) less interest income plus interest expense, provision for income taxes, depreciation
and amortization expense, stock-based compensation and further adjusted to eliminate the impact of certain items that the Company
does not consider representative of its ongoing core operating performance.

 

Incentive Amount: Subject to the terms and
conditions of this Plan, Eligible Persons may earn payment of “Incentive Amounts” based on a percentage of the
funded incentive pool, with the Committee to determine the percentage to be paid to each Eligible Person who is an executive
officer and the Chief Executive Officer to determine the percentage to be paid to other Eligible Persons. The Committee has
determined the following Incentive Amount percentages for executive officers: Chief Executive Officer, 18%, Chief Financial
Officer, 9%, President/General Manager of Powered by Zip, 8%, Senior Vice President of Business Development/General Counsel,
7.5%, and Senior Vice President of Technology, 7.5%. The Committee retains the right to determine Incentive Amount
percentages for any additional executive officers of the Company.

 

The Incentive Amounts may be adjusted pursuant
to the “Performance Adjustment” section below.

 

Performance Adjustment: The Administrator
shall have discretion to adjust any Eligible Person’s Incentive Amount based on his or her job performance for Fiscal Year
2013 by reducing or increasing the Incentive Amount as the Administrator, in its sole discretion, deems appropriate, including
elimination of the Incentive Award. The Administrator shall also have the discretion to determine that no Incentive Pool will be
funded.

 

Calculation and Approval: An Eligible
Person’s Incentive Amount or Adjusted Incentive Amount, as determined in the manner set forth above, is that Eligible Person’s
“Actual Incentive” with respect to Fiscal Year 2013. All calculations of each Actual Incentive must be approved by
the Administrator with respect to such participant and the total amount of the aggregate incentive pool to be paid hereunder to
all Eligible Persons must be approved by the Committee after such consultation with the Board as it deems appropriate.

 

Payments: All amounts, if any, to be
paid out hereunder shall be paid in accordance with the Company’s standard payroll practices, within a reasonable amount
of time and in accordance with applicable law following determination by the Committee that there shall be a pool from which to
make such payments with respect to Fiscal Year 2013 and calculation of applicable incentives. In all cases, amounts, if any, to
be paid out hereunder shall be paid no later than March 15 of the year following the year in which the applicable amount is earned.

 

    	 

    	 

    

 

Future Incentive Periods: This Plan
is in effect only with respect to Fiscal Year 2013. Nothing in this Plan provides for or implies the establishment or payment of
any incentives with respect to future periods.

 

Merger or Acquisition: The Board of
Directors may modify this Plan, including terminate it without making payments hereunder, with respect to Fiscal Year 2013 in its
sole discretion in the event of a merger or acquisition of the Company.

  

Administration: The Committee has sole
and exclusive discretionary authority to interpret this Plan and adopt such rules and regulations for carrying out this Plan as
it deems appropriate. The Committee may, in its discretion, modify or terminate this Plan. Decisions by the Committee are final
and binding on all parties to the maximum extent allowed by law.

 

Employment is Terminable At Will: Nothing
in this Plan will interfere with or limit in any way the right of the Company or the right of any individual to alter or terminate
the employment relationship at any time, with or without cause.

 

General Terms and Conditions: Amounts
to be paid under this Plan in cash will be paid from the general funds of the Company. Nothing in this Plan will be construed to
create a trust or establish any evidence of any individual’s claim of any right to payment other than as an unsecured general
creditor of the Company. All payments to be made in cash will be made in the currency in which the individual is regularly paid.

 

Tax Withholding: All payments will
be subject to the satisfaction of applicable federal, state, local or similar income withholding requirements and to any employment
tax withholding requirements. The Company shall withhold all applicable amounts required by law from any payments hereunder.

 

Section 409A: All cash payable under
this Plan is intended to be exempt from or comply with the requirements of Section 409A of the Internal Revenue Code of 1986,
as amended and the regulations and guidance thereunder (together, Section 409A) so that none of the payments and benefits
to be provided under this Plan will be subject to the additional tax imposed under Section 409A, and any ambiguities herein shall
be interpreted to so comply or be exempt. Each payment and benefit payable under this Plan is intended to constitute a separate
payment for purposes of Section 1.409A-2(b) (2) of the Treasury Regulations. The Company may, in good faith and without the consent
any Eligible Participant, make any amendments to this Plan and take such reasonable actions which it deems necessary, appropriate
or desirable to avoid imposition of any additional tax or income recognition under Section 409A prior to actual payment to an Eligible
Participant.

 

Governing Law; Severability: This Plan
will be construed, administered and governed in all respects in accordance with the internal laws of the State of California. In
the event that any provision of this Plan is held illegal or invalid for any reason, such holding will not affect the remaining
provisions of this Plan, and this Plan will be construed and enforced as if the illegal and invalid provision had not been included.

 

Entire Agreement: This Plan and any
resolutions of the Compensation Committee amending the Plan, is the entire understanding between the Company and any participant
regarding the subject matter of this Plan and supersedes all prior bonus or commission incentive plans, or employment contracts
whether with any subsidiary or affiliate, or any written or verbal representations regarding the subject matter of this Plan. Participation
in this Plan during the Fiscal Year 2013 will not convey any entitlement to participate in this or future plans or to the same
or similar bonus benefits. Payments under this Plan are an extraordinary item of compensation that is outside the normal or expected
compensation for the purpose of calculating any extra benefits, termination, severance, redundancy, end-of-service premiums, bonuses,
long-service awards, overtime premiums, pension or retirement benefits or other similar payment.

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