Document:

Form of Phantom Stock award Agreement

 Exhibit 10.19 
 PHANTOM STOCK AWARD AGREEMENT 
 This Phantom Stock Award Agreement (the
“Agreement”) has been made as of                     ,             (the
“Date of Grant”) between Spectra Energy Corp, a Delaware corporation, with its principal offices in Houston, Texas (the “Corporation”), and
                    (the “Grantee”). 
 RECITALS 
 Under the 2007 Spectra Energy Long Term Incentive Plan as it may, from time to time, be
amended (the “Plan”), the Compensation Committee of the Board of Directors of the Corporation (the “Committee”), or its delegatee, has determined the form of this Agreement and selected the Grantee, as an Employee, to receive the
award evidenced by this Agreement (the “Award”) and the Phantom Stock units and tandem Dividend Equivalents that are subject hereto. The basis for the Award is to provide an incentive for the Employee to remain with the Corporation and to
improve Employee retention. Awards are not intended for Employees who have given notice of resignation or who have been given notice of termination by the Corporation, and will not accrue to Employees once such notices are given. For clarity, Awards
do not accrue for Employees who have received notice, given notice or have been determined to be entitled to a notice period by a court, and no damages suffered by an Employee due to lack of sufficient notice will include compensation for loss of
vesting rights or accrual of an Award. The applicable provisions of the Plan are incorporated in this Agreement by reference, including the definitions of terms contained in the Plan (unless such terms are otherwise defined herein). 
 AWARD 
 In accordance with the Plan,
the Corporation has made this Award, effective as of the Date of Grant and upon the following terms and conditions: 
 Section 1.
Number and Nature of Phantom Stock Units and Tandem Dividend Equivalents. The number of Phantom Stock units and the number of tandem Dividend Equivalents subject to this Award are each
                    (            ). Each Phantom Stock unit, upon becoming vested before
its expiration, represents a right to receive payment in the form of one (1) share of Common Stock. Each tandem Dividend Equivalent represents a right to receive cash payments equivalent to the amount of cash dividends declared and paid on one
(1) share of Common Stock after the Date of Grant and before the Dividend Equivalent expires. Phantom Stock units and Dividend Equivalents are used solely as units of measurement, and are not shares of Common Stock and the Grantee is not, and
has no rights as, a shareholder of the Corporation by virtue of this Award. The Dividend Equivalents subject to this Award have been awarded to the Grantee in respect of services to be performed by the Grantee exclusively in and after the year in
which the Award is made. 
  

 Section 2. Vesting of Phantom Stock Units. The specified percentage of the
Phantom Stock units subject to this Award, and not previously forfeited, shall vest, with such percentage considered satisfied to the extent such Phantom Stock units have previously vested, as follows: 
 (a) Generally. Upon Grantee remaining continuously employed by the Corporation, including Subsidiaries, through the third anniversary of the Date
of Grant. 
 (b) Retirement. If Grantee’s employment terminates at a time
when Grantee is eligible for an immediately payable early or normal retirement benefit under the Spectra Energy Retirement Cash Balance Plan or under another retirement plan of the Corporation or Subsidiary which plan the Committee, or the
delegatee, in its sole discretion, determines to be the functional equivalent of the Spectra Energy Retirement Cash Balance Plan, the number of Phantom Stock units and tandem Dividend Equivalents to which the Grantee shall have a right to payment
hereunder shall be prorated to reflect only the number of whole months of the period beginning on the Date of Grant and ending with the third (3rd) anniversary of the Date of Grant during which such employment continued while Grantee was entitled to payment of salary, and the remaining Phantom Stock units vested shall be forfeited. Grantee
shall be considered to have “retired” but Grantee’s employment shall be considered to continue, with continued vesting under Section 2(a), (i) unless the Committee or its delegatee, in its sole discretion, determines that
(A) Grantee is in violation of any obligation identified in Section 3 or (B) the termination of Grantee’s employment is for cause, in which case all Phantom Stock units not previously vested shall be forfeited, or
(ii) unless the Grantee dies, in which case the Phantom Stock units subject to the provisions of this Section 2(b) shall vest in accordance with Section 2(c). 
 (c) Death or Disability. If Grantee’s employment terminates (i) as the result of Grantee’s death or (ii) as the result of
Grantee’s permanent and total disability within the meaning of Code Section 22(e)(3) as applicable, the Phantom Stock units subject to this Award shall vest immediately. 
 (d) Involuntary Termination Without Cause. If Grantee’s employment is terminated by the
Corporation, or employing Subsidiary, other than for cause, (i) the number of Phantom Stock units and tandem Dividend Equivalents to which the Grantee shall have a right to payment hereunder shall be prorated to reflect only the number of whole
months of employment occurring prior to any notice of termination, regardless of reason for termination or the party giving notice, and during the period beginning on the Date of Grant and ending with the third (3rd) anniversary of the Date of Grant, and the remaining Phantom Stock units shall be forfeited, and (ii) the unforfeited Phantom Stock units
determined in accordance with clause (i) shall vest immediately. 
 (e) Change in Control. All Phantom Stock units and tandem
Dividend Equivalent units under to which the Grantee has the right to payment hereunder shall become 100% vested, if, following the occurrence of a Change in Control and before the 

 
second anniversary of such occurrence, such employment is terminated involuntarily, and not for cause, by the Corporation, or employing Subsidiary, or their
successor. 
 Section 3. Violation of Grantee Obligation. In consideration of the continued vesting opportunity
provided under Section 2 following the termination of Grantee’s continuous employment by the Corporation, including Subsidiaries, if Grantee is considered “retired”, Grantee agrees that during the period beginning with such
termination of employment and ending with the third anniversary of the Date of Grant (“Restricted Period”), Grantee shall not (i) without the prior written consent of the Corporation, or its delegatee, become employed by, serve as a
principal, partner, or member of the board of directors of, or in any similar capacity with, or otherwise provide service to, a competitor, to the detriment, of the Corporation or any Subsidiary, or (ii) violate any of Grantee’s other
noncompetition obligations, or any of Grantee’s nonsolicitation or nondisclosure obligations, to the Corporation or any Subsidiary. The noncompetition obligations of clause (i) of the preceding sentence shall be limited in scope and shall
be effective only to competition with the Corporation or any Subsidiary in the businesses of: gathering, processing or transmission of natural gas, resale or arranging for the purchase or for the resale, brokering, marketing, or trading of natural
gas, electricity or derivatives thereof; energy management and the provision of energy solutions; gathering, compression, treating, processing, fractionation, transportation, trading, marketing of natural gas components, including natural gas
liquids; sales and marketing of electric power and natural gas, domestically and abroad; and any other business in which the Corporation, including Subsidiaries, is engaged at the termination of Grantee’s continuous employment by the
Corporation, including Subsidiaries; and within the following geographical areas (i) any country in the world where the Corporation, including Subsidiaries, has at least US$25 million in capital deployed as of termination of Grantee’s
continuous employment by Corporation, including Subsidiaries; (ii) the continent of North America; (iii) the United States of America and Canada; (iv) the states of (A) Virginia, (B) Georgia, (C) Florida,
(D) Texas, (E) California, (F) Massachusetts, (G) Illinois, (H) Michigan, (I) New York, (J) Colorado, (K) Oklahoma and (L) Louisiana; and (v) any state or states or province or provinces with respect
to which was conducted a business of the Corporation, including Subsidiaries, which business constituted a substantial portion of Grantee’s employment. The Corporation and Grantee intend the above restrictions on competition in geographical
areas to be entirely severable and independent, and any invalidity or enforceability of this provision with respect to any one or more of such restrictions, including geographical areas, shall not render this provision unenforceable as applied to
any one or more of the other restrictions, including geographical areas. If any part of this provision is held to be unenforceable because of the duration, scope or area covered, the Corporation and Grantee agree to modify such part, or that the
court making such holding shall have the power to modify such part, to reduce its duration, scope or area, including deletion of specific words and phrases, i.e., “blue penciling”, and in its modified, reduced or blue pencil form, such
part shall become enforceable and shall be enforced. Nothing in Section 3 shall be construed to prohibit Grantee being retained during the Restricted Period in a capacity as an attorney licensed to practice law, or to restrict Grantee providing
advice and counsel in such capacity, in any jurisdiction where such prohibition or restriction is contrary to law. 

 Section 4. Forfeiture/Expiration. Any Phantom Stock unit subject to this Award
shall be forfeited upon notice of the termination of Grantee’s continuous employment by the Grantee or by the Corporation, including Subsidiaries, from the Date of Grant, except to the extent otherwise provided in Section 2, and, if not
previously vested and paid, or deferred, or forfeited, shall expire immediately before the third anniversary of the Date of Grant. Any Dividend Equivalent subject to this Award shall expire at the time the unit of Phantom Stock with respect to which
the Dividend Equivalent is in tandem (i) is vested and paid, or , to the extent permitted by the laws of the applicable jurisdiction, deferred, (ii) is forfeited, or (iii) expires. 
 Section 5. Dividend Equivalent Payments. Payments with respect to any Dividend Equivalent subject to this Award shall be
credited by the Corporation to a bookkeeping account in the Grantee’s name as soon as practicable after any time cash dividends are declared and paid with respect to the Common Stock on or after the Date of Grant and before the Dividend
Equivalent expires. Grantee shall be entitled to payment of the Dividend Equivalents credited to the bookkeeping account in a cash lump sum payment at the same time the that payment of the related Phantom Stock units subject to this Award is made in
accordance with Section 6 hereof. However, should the Grantee receive shares under this Award without the right to receive a dividend and, because of the timing of the declaration of such dividend, the Grantee is not otherwise entitled to
payment under the expiring Dividend Equivalent with respect to such dividend, the Grantee, nevertheless, shall be entitled to such payment. Dividend Equivalent payments shall be subject to withholding for taxes. Notwithstanding any other provision
hereof, in no event will any Dividend Equivalent to which the Grantee may be entitled vest, or will the right to receive a payment in respect of any Dividend Equivalent arise, after December 30 of the calendar year which is three years
following the end of the year in which any portion of the services to which the award of such Dividend Equivalent relates were performed by the Grantee. In the event this would, apart from this provision, occur, notwithstanding any other provision
hereof, the applicable Dividend Equivalent will vest and the Grantee will be entitled to receive payment of such Dividend Equivalent shall be made on December 30 (or the first date prior thereto that is not a Saturday, Sunday or holiday) in the
first calendar year which is three years following the end of the year in which any portion of the services to which the award of such Dividend Equivalent relates were performed by the Grantee. 
 Section 6. Payment of Phantom Stock Units. Payment of Phantom Stock units subject to this Award shall be made to the Grantee as
soon as practicable following the time such units become vested in accordance with Section 2 prior to their expiration but in no event later than 30 days following such vesting, except to the extent deferred by Grantee in accordance with such
procedures as the Committee, or its delegatee, may prescribe consistent with the requirements of Section 409A of the Code or any Canadian law equivalent, as applicable. Payment shall be subject to withholding for taxes. Payment shall be in the
form of one (1) share of Common Stock for each full vested unit of Phantom Stock and any fractional vested unit of Phantom Stock shall not be payable unless and until subsequent vesting results in a full unit of Phantom Stock becoming vested.
Notwithstanding the foregoing, to the extent that Grantee fails to timely tender to the 

 
Corporation sufficient cash to satisfy withholding for tax requirements, the number of shares of Common Stock that would otherwise be paid (valued at Fair
Market Value on the date the respective unit of Phantom Stock became vested, or if later, payable) shall be reduced by the Committee, or its delegatee, in its sole discretion, to fully satisfy such requirements. In the event that payment, after any
such reduction in the number of shares of Common Stock to satisfy withholding for tax requirements, would be less than ten (10) shares of Common Stock, then, if so determined by the Committee, or its delegatee, in its sole discretion, payment,
instead of being made in shares of Common Stock, shall be made in a cash amount equal in value to the shares of Common Stock that would otherwise be paid, valued at Fair Market Value on the date the respective Phantom Stock units became vested, or
if later, payable. 
 Section 7. No Employment Rights. Nothing in this Agreement or in the Plan shall confer upon
the Grantee the right to continued employment by the Corporation or any Subsidiary, or affect the right of the Corporation or any Subsidiary to terminate the employment or service of the Grantee at any time for any reason. 
 Section 8. Nonalienation. The Phantom Stock units and Dividend Equivalents subject to this Award are not assignable or
transferable by the Grantee. Upon any attempt to transfer, assign, pledge, hypothecate, sell or otherwise dispose of any such Phantom Stock unit or Dividend Equivalent, or of any right or privilege conferred hereby, or upon the levy of any
attachment or similar process upon such Phantom Stock unit or Dividend Equivalent, or upon such right or privilege, such Phantom Stock unit or Dividend Equivalent or right or privilege, shall immediately become null and void. 
 Section 9. Determinations. Determinations by the Committee, or its delegatee, shall be final and conclusive with respect to the
interpretation of the Plan and this Agreement. 
 Section 10. Governing Law. The validity and construction of this
Agreement shall be governed by the laws of the state of Delaware applicable to transactions taking place entirely within that state. 
 Section 11. Certain Definitions. The following shall apply notwithstanding anything in this Agreement or the Plan to the contrary. The term “Change in Control” has the meaning given such term in
Section 2(d) of the Spectra Energy Corp 2007 Long-Term Incentive Plan. The term “Subsidiaries” shall mean any entity that is wholly owned, directly or indirectly, by the Corporation, or any other affiliate of the Corporation that is
so designated, from time to time, by the Committee. 
 Section 12. Conflicts with Plan, Correction of Errors, and
Grantee’s Consent. In the event that any provision of this Agreement conflicts in any way with a provision of the Plan, such Plan provision shall be controlling and the applicable provision of this Agreement shall be without force and
effect to the extent necessary to cause such Plan provision to be controlling. In the event that, due to administrative error, this Agreement does not accurately reflect a Phantom Stock Award properly granted to Grantee pursuant 

 
to the Plan, the Corporation, acting through its Executive Compensation Department, reserves the right to cancel any erroneous document and, if appropriate,
to replace the cancelled document with a corrected document. It is the intention of the Corporation and the Grantee that this Award not result in unfavorable tax consequences to Grantee under Code Section 409A or any Canadian law equivalent, as
applicable. Accordingly, Grantee consents to such amendment of this Agreement as the Corporation may reasonably make in furtherance of such intention, and the Corporation shall promptly provide, or make available to, Grantee a copy of any such
amendment. 
 Notwithstanding the foregoing, this Award is subject to cancellation by the Corporation in its sole discretion unless the
Grantee, by not later than                     ,             , has signed a duplicate of
this Agreement, in the space provided below, and returned the signed duplicate to the Executive Compensation Department—Phantom Stock (WO 1P16), Spectra Energy Corp, P. O. Box 1642, Houston, TX 77251-1642, which, if, and to the extent,
permitted by the Executive Compensation Department, may be accomplished by electronic means. 
 IN WITNESS WHEREOF, the Corporation has
caused this Agreement to be executed and granted in Houston, Texas, to be effective as of the Date of Grant. 
  

			
	 ATTEST:
	 	SPECTRA ENERGY CORP
		
	 By:                                      
                                        
                    
	 	By:                                      
                                        
                                      
 
		
	 Corporate Secretary
	 	 Its:

  

 Acceptance of Phantom Stock Award 
 IN WITNESS OF Grantee’s acceptance of this Award and Grantee’s agreement to be bound by the provisions of this Agreement and the Plan, Grantee
has signed this Agreement this              day of                     ,
            . 
  

	
	
	  
	Grantee’s Signature
	
	  
	(print name)
	
	  
	(social security/social insurance number)
	
	  
	 (address)Separation Agreement

 Exhibit 10.23 
 SEPARATION AGREEMENT BETWEEN 
 WOLVERINE TUBE, INC. AND JOHANN R. MANNING, JR. 
 This Separation Agreement (this “Agreement”) between Wolverine Tube, Inc. (“Wolverine”) and Johann R. Manning, Jr.
(“Manning”) controls the terms of the severance of the relationship between the two parties and their respective rights and obligations to each other. This Agreement is executed on the dates shown by the signatures below, but shall be
effective on the effective date of the Investment, as defined below (the “Effective Date”), and only if the Investment occurs on or before February 28, 2007. 
 Recitals 
 WHEREAS, Plainfield Special Situations Master Fund Limited
(“Plainfield”) and The Alpine Group, Inc. (“Alpine”) have agreed to make an investment in Wolverine in which Plainfield and Alpine, as a group, would beneficially own in excess of 15% of the voting power of the stock of Wolverine
(the “Investment”); and 
 WHEREAS, in connection with and contingent upon the closing of the Investment, Manning and Wolverine
wish to sever the employee-employer relationship between the two parties on amicable terms and in a manner beneficial to and respectful to the desires of both parties; and 
 WHEREAS, Manning and Wolverine previously have entered into a 2002 Change in Control, Severance and Non-Competition Agreement, effective as of
July 12, 2002, as amended (the “2002 Change in Control Agreement”); and 
 WHEREAS, the Investment will constitute a Change in
Control of Wolverine for purposes of the 2002 Change in Control Agreement; and 
 WHEREAS, in order to avoid any dispute that could arise
under the 2002 Change in Control Agreement in connection with the Investment and the transactions contemplated thereby, the parties have agreed to replace and supersede certain provisions of the 2002 Change in Control Agreement, contingent upon
closing of the Investment; and 
 WHEREAS, on or about the date of the closing of the Investment, Manning shall enter into a Consulting
Agreement with Wolverine to provide consulting services for fifteen (15) months (the “Consulting Agreement”); 
 NOW,
THEREFORE, in consideration of the recitals and mutual covenants and agreements set forth below, the parties, each intending to be legally bound, agree as follows: 
 1. Resignation of Employment. Manning hereby voluntarily resigns his employment with Wolverine and all its subsidiaries effective immediately following the closing of the Investment (the “Resignation
Date”). If for any reason the Investment does not occur by February 28, 2007, this Agreement shall be null and void, Manning’s resignation shall be deemed not to have been tendered, and the 2002 Change in Control Agreement shall
continue in full force as in effect on the date immediately prior to the execution of this Agreement. 

 2. Compensation, Benefits, and Other Consideration. The parties agree that, immediately upon the
closing of the Investment, and subject to Section 5 of this Agreement, Section 1 of the 2002 Change in Control Agreement (entitled “Termination of Employment”) shall be superseded and will have no further force or effect, and the
parties will have no further rights and/or obligations thereunder. In exchange for the Release provided to Wolverine by Manning as referenced in Section 8 of this Agreement, Wolverine hereby agrees to provide Manning with consideration
consisting of the following: 
 (a) All stock options, restricted stock and other equity awards granted by Wolverine and held by Manning as
of the Resignation Date, to the extent not already vested by their terms, shall become immediately vested and exercisable as of the Resignation Date. The value, if any, attributable to the acceleration of vesting of such equity awards that
constitutes a parachute payment to Manning under Sections 280G or 4999 of the Internal Revenue Code of 1986, as amended (“Code”), as determined under Section 3 of this Agreement is referred to herein as the “Equity Parachute
Value.” 
 (b) On or before the Resignation Date, Wolverine shall deposit into a rabbi trust for the benefit of Manning, a lump sum cash
severance payment (the “Severance Payment”) equal to (i) $1,472,500, minus (ii) the Equity Parachute Value. Provided that Manning shall have signed the Release attached hereto as Appendix A and not revoked such Release during the
seven-day revocation period, the Severance Payment shall be paid to Manning out of the rabbi trust on the day following the six (6) month anniversary of the Resignation Date. 
 (c) For a period of three (3) years after the Resignation Date, Wolverine shall make available to Manning medical and disability benefits
substantially similar to those that Manning was receiving or entitled to receive immediately prior to the Resignation Date, and no less favorable than those in which the senior executive management team of Wolverine shall be eligible to participate
during such period, and if Manning shall choose to participate in such benefit programs, he shall pay the full “phantom cost” (i.e., the employee and employer portion of the costs) of his participation in such programs as determined by
Wolverine’s employee benefits firm for the period of his participation. Beginning at the end of such three-year period, Manning shall have rights to continue medical insurance coverage under the Consolidated Omnibus Budget Reconciliation Act of
1985 (“COBRA”). 
 (d) For a period of six (6) years after the Resignation Date, Manning shall be entitled to director and
officer insurance coverage for his acts and omissions while serving as an officer and director of Wolverine on a basis no less favorable to him than the coverage provided over such six-year period to the then-current officers and directors of
Wolverine. 
 (e) Wolverine shall continue to satisfy in full any currently existing or hereafter arising indemnification obligations to
Manning (whether arising by law, Wolverine’s bylaws or pursuant to any separate indemnification agreement between Wolverine and Manning). 
 (f) Wolverine shall honor and pay any and all bonus and success share monies achieved on account of 2006 performance of Wolverine to Manning that have not already been paid, consistent with and at the same time as amounts are awarded to
other participants of these programs, up to a maximum of $55,000. 
  

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 Nothing in this Agreement affects any vested rights Manning has in any retirement, welfare or benefit
plans, programs or policies of Wolverine as of the Resignation Date. 
 Manning agrees and acknowledges that the aggregate amount of cash
payable pursuant to this Agreement and the Consulting Agreement shall not exceed $3,085,000 (the “Aggregate Amount”). The Aggregate Amount does not apply to (i) vested rights Manning has in any retirement, welfare or benefit plan,
(ii) director and officer insurance coverage (or amounts payable thereunder), (iii) Wolverine’s indemnification obligations, (iv) legal fees or (v) reimbursement of travel-related expenses incurred at Wolverine’s
request, in each case to the extent such amounts or rights are provided for in the Separation Agreement or the Consulting Agreement. Notwithstanding the foregoing, the Aggregate Amount shall not apply if the provisions of the 2002 Change of Control
Agreement are reinstated in accordance with Section 5 of this Agreement. 
 3. Golden Parachute Considerations. 
 (a) In the event it shall be determined (as hereafter provided) that any Payments and/or benefits would be subject to the excise tax imposed by
Section 4999 of Code or to any similar tax imposed by federal, state or local law, or any other revenue system to which Manning may be subject, or any interest or penalties with respect to that tax (that tax or those taxes, together with any
interest and penalties, may be hereafter referred to as the “Excise Tax”), then the provisions of Appendix B hereto shall apply and, if any Excise Tax is payable after the application of the provisions of Appendix B, Manning shall be
solely responsible for paying such Excise Tax and Wolverine shall have no liability to Manning for such Excise Tax. 
 (b) For purposes of
this Section and Appendix B, “Payment” means any payment made to Manning or distribution by Wolverine or any of its affiliates to or for the benefit of Manning, whether paid or payable or distributed or distributable pursuant to the terms
of this Agreement or otherwise pursuant to or by reason of any other agreement, policy, plan, program or arrangement, including without limitation any stock option, performance share, performance unit, stock appreciation right or similar right,
supplemental retirement plan benefits, split dollar insurance agreements, or the lapse or termination of any restriction on, or the vesting or exercisability of, any of the foregoing. 
 4. Secrecy, Non-Solicitation and Non-Competition. Following the Resignation Date, Manning agrees to adhere to the secrecy, non-solicitation and
non-competition restrictions and equitable relief provisions contained in Section 2 of the 2002 Change in Control Agreement, which are hereby incorporated into this Agreement by reference (other than Section 2(d)(i)). Notwithstanding the
foregoing, the parties agree that Section 2(d)(i) of the 2002 Change in Control Agreement is hereby deleted in its entirety. In consideration of Manning’s promises under this Section 4, Wolverine shall pay to Manning a non-compete and
non-solicitation fee equal to $1,035,000 (the “Non-compete and Non-solicitation Fee”). On or before the Resignation Date, Wolverine shall pay the Non-compete and Non-solicitation Fee into a rabbi trust for the benefit of Manning. The
Non-compete and Non-solicitation Fee shall be paid to Manning out of the rabbi trust on the day following the six (6) month anniversary of the Resignation Date. 
  

 3 

 5. Termination of 2002 Change in Control Agreement. The parties hereto agree that, except for
Manning’s obligation to adhere to the secrecy, non-solicitation and non-competition and equitable relief provisions under Section 4 above, and except as provided in the following sentence, the 2002 Change in Control Agreement shall be
terminated as of the Resignation Date and Manning shall not be due any payments or benefits under the 2002 Change in Control Agreement. Notwithstanding the foregoing, if after the Resignation Date, Wolverine defaults in the timely payment or
provision to Manning of any amount or benefit under this Agreement, after notice by Manning and failure by Wolverine to cure such default within three (3) business days of such notice by Manning, this Agreement (other than Section 9(b)
hereof) shall be null and void and the provisions of the 2002 Change in Control Agreement shall be reinstated in full force and effect, retroactive to the date immediately prior to the Resignation Date, such that Manning shall be deemed to have
voluntarily resigned following a Change in Control under Section 1(b) of the 2002 Change in Control Agreement; provided, however, that the reinstatement of the 2002 Change in Control Agreement shall not result in any duplication of benefits under
this Agreement. 
 6. Cooperation Regarding Disclosure of Termination. The parties hereto agree that they shall cooperate in good
faith to reach mutual agreement with respect to any disclosures regarding Manning’s termination of employment, including (i) the timing of any internal announcement, and (ii) the content of any press release or required SEC filing.

 7. Non-disparagement. Subject to the obligation required by law to provide truthful testimony in governmental inquires or
proceedings and the obligation to provide truthful testimony in legal proceedings, (a) the officers, directors and senior management of Wolverine shall not do or say anything that criticizes or disparages Manning, personally or professionally
or in any other respect, and (b) Manning agrees not to do or say anything that (i) criticizes or disparages the management, practices or products of Wolverine or any of its affiliates, or (ii) disrupts or impairs the normal, ongoing
business operations of Wolverine or any of its affiliates. 
 8. Release of Claims. On the Effective Date, the parties hereto shall
sign the Mutual Release of Claims in the form attached hereto as Appendix B. 
 9. Legal Fees; Costs of Enforcement. 
 (a) In addition, Wolverine shall reimburse Manning, on a current basis, for all reasonable legal fees and related expenses incurred by Manning in
connection with this Agreement from and after the Resignation Date, including without limitation, all such fees and expenses, if any, incurred by Manning in seeking to obtain or enforce any right or benefit provided by this Agreement, in each case,
regardless of whether or not Manning’s claim is upheld by an arbitral panel or a court of competent jurisdiction; provided, however, Manning shall be required to repay to Wolverine any such amounts to the extent that an arbitral panel or a
court issues a final and non-appealable order, judgment, decree or award setting forth the determination that the position taken by Manning was frivolous or advanced by Manning in bad faith. 
 (b) In the event that the 2002 Change in Control Agreement shall be reinstated pursuant to Section 5 of this Agreement, Wolverine shall reimburse
Manning, on a current basis, for all reasonable legal fees and related expenses, if any, incurred by Manning in seeking to obtain or enforce any right or benefit provided by the 2002 Change in Control Agreement, in 

  

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each case, regardless of whether or not Manning’s claim is upheld by an arbitral panel or a court of competent jurisdiction; provided, however, Manning
shall be required to repay to Wolverine any such amounts to the extent that an arbitral panel or a court issues a final and non-appealable order, judgment, decree or award setting forth the determination that the position taken by Manning was
frivolous or advanced by .Manning in bad faith. 
 10. Withholding. Payments to Manning of all compensation contemplated under this
Agreement shall be subject to all applicable legal requirements with respect to the withholding of taxes and similar deductions. 
 11.
Notices. Any notice hereunder by either party to the other shall be given in writing by personal delivery or certified mail, return receipt requested. If addressed to Manning, the notice shall be delivered or mailed to Manning at the address
first set forth below, or if addressed to Wolverine, the notice shall be delivered or mailed to 200 Clinton Avenue West, Suite 1000, Huntsville, Alabama 35801, or such address as Wolverine or Manning may designate by written notice at any time or
from time to time to the other party. A notice shall be deemed given, if by personal delivery, on the date of such delivery or, if by certified mail, on the date shown on the applicable return receipt. 
 12. No Waiver. Wolverine and Manning agree that any failure of one party to demand rigid adherence to one or more of the provisions of this
Agreement, on one or more occasions, shall not be construed as a waiver, estoppel, or release, nor shall any such failure ever deprive either party of the right to insist upon strict compliance. 
 13. Code Section 409A. Wolverine and Manning intend for all payments and benefits under this Agreement to be either outside the scope of
Section 409A of the Code or to comply with its requirements as to timing of payments. Accordingly, to the extent applicable, this Agreement shall at all times be operated in accordance with the requirements of Section 409A of the Code, as
amended, and the regulations and rulings thereunder, including any applicable transition rules. Wolverine and Manning shall take action, or refrain from taking any action, with respect to the payments and benefits under this Agreement that is
reasonably necessary to comply with Section 409A. Notwithstanding any provision in this Agreement to the contrary, if the payment of any compensation or benefit hereunder would be subject to additional taxes and interest under Section 409A
of the Code because the timing of such payment is not delayed as provided in Section 409 A(a)(2)(B) of the Code, then any such payment or benefit that Manning would otherwise be entitled to during the first six (6) months following the
date of Manning’s termination of employment shall be accumulated and paid or provided, as applicable, on the date that is six (6) months and one day after the date of Manning’s termination of employment (or if such date does not fall
on a business day of Wolverine, the next following business day of Wolverine), or such earlier date upon which such amount can be paid or provided under Section 409A of the Code without being subject to such additional taxes and interest. The
preceding sentence shall apply only to the extent required to avoid Manning’s incurrence of any additional tax or interest under Section 409A of the Code or the regulations or Treasury guidance promulgated thereunder. 
 14. Severability. In the event that any provision of this Agreement shall be declared to be invalid, illegal or unenforceable, such provision
shall survive to the extent it is not so declared, and the validity, legality and enforceability of the other provisions hereof shall not in 

  

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any way be affected or impaired thereby, unless such action would substantially impair the benefits to any party of the remaining provisions of this
Agreement. 
 15. Modification. No modification, amendment, or waiver of any of the provisions of this Agreement shall be effective
unless made in writing specifically referring to this Agreement and signed by each of the parties. 
 16. Governing Law. All matters
affecting this Agreement, including the validity thereof, are to be governed by, and interpreted and construed in accordance with, the laws of the State of Alabama applicable to contracts executed in and to be performed in that State. Nothing in
this agreement shall affect the rights of either party under state or federal laws affecting employment. 
 17. Entire Agreement. This
instrument, and the Consulting Agreement, constitutes the entire agreement between the parties with respect to the subject matter hereof. Except as specifically referenced herein, all prior agreements, representations, and promises between the
parties with respect to the subject matter hereof are superseded by this Agreement. 
 18. Counterparts. This Agreement may be
executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
  

 6 

 IN WITNESS WHEREOF, Manning and Wolverine have
caused this Agreement to be executed on this the 16th day of February 2007, both intending to be fully and legally
bound. 
  

			
	WOLVERINE TUBE, INC.
		
	By:	 	/s/ James E. Deason
	Its:	 	SVP & CFO
		 	

  

	
	
	/s/ Johann R. Manning, Jr.
	JOHANN R. MANNING, JR.
	
	 Address for Notice:
 1205 Deborah Drive
 Huntsville, Alabama 35801

 Plainfield Special Situations Master Fund Limited and The Alpine Group, Inc. have caused
this Agreement to be executed on this the              day of
                    , 2007, indicating their acknowledgement of and concurrence with the terms hereof, as substantial shareholders of
Wolverine from and after the Investment. 
  

			
	 PLAINFIELD SPECIAL SITUATIONS MASTER
 FUND
LIMITED

		
	By:	 	/s/ Illegible
	Its:	 	Authorized Individual
		 	

  

			
	THE ALPINE GROUP, INC.
		
	By:	 	/s/ Illegible
	Its:	 	
		 	

  

 7

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