Document:

Exhibit 10.1

 Exhibit 10.1 

TAX SHARING AGREEMENT 
 by and
between 
 TriMas Corporation 

and 
 Horizon Global Corporation

 Dated as of 

[                    ], 2015 

 TAX SHARING AGREEMENT 

This TAX SHARING AGREEMENT (this “Agreement”), dated as of
[                    ], 2015, is made by and between TriMas Corporation, a Delaware corporation (“TriMas”), and Horizon Global
Corporation, a Delaware corporation (“Horizon”), a wholly owned subsidiary of TriMas. TriMas and Horizon are sometimes referred to herein individually as a “Party”, and collectively as the “Parties.” 

RECITALS 
 WHEREAS, the
Board of Directors of TriMas has determined that it is appropriate and in the best interest of TriMas and its shareholders to effect a reorganization and spin-off (the “Separation”) to separate the Horizon Group (as defined below); 

WHEREAS, TriMas and Horizon have entered into a Separation and Distribution Agreement (the “Separation Agreement”) providing
for the separation of the Horizon Group from the TriMas Group; 
 WHEREAS, pursuant to the terms of the Separation Agreement, the Parties
will take, or cause to be taken, actions (including the transfer of Assets and the assumption of Liabilities) necessary to effect the Separation; 

WHEREAS, for U.S. federal income tax purposes, it is intended that the transactions necessary to effect the Separation (other than Taxable
Restructuring Transactions, as defined below) shall qualify as tax-free transactions under Sections 355(a), 368(a)(1)(D) and/or 351 of the Code (as defined below); 

WHEREAS, pursuant to the tax laws of various jurisdictions, members of the TriMas Group (as defined below but including for this purpose
members of the Horizon Group) file certain tax returns on a consolidated, combined, unitary or other group basis; 
 WHEREAS, the Parties
hereto wish to provide for the payment of Income Taxes (as defined below) and Other Taxes (as defined below) and entitlement to refunds thereof, allocate responsibility and provide for cooperation in connection with the filing of returns in respect
of Income Taxes and Other Taxes, and provide for certain other matters relating to Income Taxes and Other Taxes. 
 NOW, THEREFORE, in
consideration of the premises and the representations, covenants and agreements herein contained and intending to be legally bound hereby, TriMas and Horizon hereby agree as follows: 

1. Definitional Provisions.  

  
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 (a) Definitions. Capitalized terms used but not otherwise defined herein shall have the
respective meanings assigned to them in the Separation Agreement. For purposes of this Agreement, the following terms shall have the meanings set forth below: 

“Actually Realized” or “Actually Realizes” shall mean, for purposes of determining the timing of the
incurrence of any Spin-Off Tax Liability, Income Tax Liability or Other Tax Liability or the realization of a Refund whether by receipt of cash or as a credit or other offset to Taxes payable, or any related Income Tax or Other Tax cost or benefit
by a Person in respect of any payment, transaction, occurrence or event, the time at which the amount of Income Taxes or Other Taxes paid (or Refund realized) by such Person is increased above (or reduced below) the amount of Income Taxes or Other
Taxes that such Person would have been required to pay (or Refund that such Person would have realized) but for such payment, transaction, occurrence or event. 

“Affiliated Group” shall mean an affiliated group of corporations within the meaning of Code Section 1504(a). 

“Business Day” shall mean any day other than a Saturday, a Sunday or a day on which banking institutions located in the state
of New York are authorized or obligated by law or executive order to close. 
 “Carryback” shall mean the carryback of a
Tax Attribute (including a net operating loss, a net capital loss or a tax credit) from a Post-Distribution Taxable Period to a Pre-Distribution Taxable Period. 

“Code” shall mean the Internal Revenue Code of 1986. 

“Combined Return” shall mean a consolidated, combined or unitary Income Tax Return or Other Tax Return that actually
includes, by election or otherwise, one or more members of the TriMas Group and one or more members of the Horizon Group. 

“Distribution Date” shall mean the date on which the External Spin-Off is completed. 

“Distribution-Related Proceeding” shall mean any Proceeding in which the IRS, another Tax Authority or any other party
asserts a position that could reasonably be expected to adversely affect the Tax-Free Status of any of the Spin-Off-Related Transactions. 

“Equity Securities” shall mean any stock or other securities treated as equity for tax purposes, options, warrants, rights,
convertible debt, or any other instrument or security that affords any Person the right, whether conditional or otherwise, to acquire stock or to be paid an amount determined by reference to the value of stock. 

“External Spin-Off” shall mean the distribution of Horizon stock by TriMas to its shareholders. 

  
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 “Fifty-Percent or Greater Interest” shall have the meaning ascribed to such term
for purposes of Sections 355(d) and (e) of the Code. 
 “Final Determination” (and the correlative term,
“Finally Determined”) shall mean the final resolution of liability for any Income Tax or Other Tax, which resolution may be for a specific issue or adjustment or for a taxable period, (a) by IRS Form 870, 870-PT or 870-AD (or
any successor forms thereto), on the date of acceptance by or on behalf of the taxpayer, or by a comparable form under the laws of a state, local, or foreign taxing jurisdiction, except that a Form 870, 870-PT or 870-AD or comparable form shall not
constitute a Final Determination to the extent that it reserves (whether by its terms or by operation of law) the right of the taxpayer to file a claim for Refund or the right of the Tax Authority to assert a further deficiency in respect of such
issue or adjustment or for such taxable period (as the case may be); (b) by a decision, judgment, decree, or other order by a court of competent jurisdiction, which has become final and nonappealable; (c) by a closing agreement or accepted
offer in compromise under Sections 7121 or 7122 of the Code, or a comparable agreement under the laws of a state, local, or foreign taxing jurisdiction; (d) by any allowance of a Refund or credit in respect of an overpayment of Income Tax or
Other Tax, but only after the expiration of all periods during which such Refund may be recovered (including by way of offset) by the jurisdiction imposing such Income Tax or Other Tax; or (e) by any other final disposition, including by reason
of the expiration of the applicable statute of limitations or by mutual agreement of the parties. 
 “Horizon” shall have
the meaning set forth in the recitals to this Agreement. 
 “Horizon Adjustment” shall mean an adjustment of any item of
income, gain, loss, deduction, credit or other Tax item attributable to any member of the Horizon Group (including, in the case of any state or local consolidated, combined or unitary income or franchise taxes, a change in one or more apportionment
factors of members of the Horizon Group) pursuant to a Final Determination for a Pre-Distribution Taxable Period. 
 “Horizon
Business” shall mean each trade or business that is actively conducted (within the meaning of Section 355(b) of the Code) by Horizon or any other member of the Horizon Group immediately after the Spin-Off and that is part of the trade
or business relied upon in the Tax Opinion Documents to satisfy the requirements of Section 355(b) with respect to the Spin-offs. 

“Horizon Consolidated Group” shall mean the affiliated group of corporations (within the meaning of Section 1504(a) of
the Code) of which Horizon is the common parent, determined immediately after the Spin-Off (and any predecessor or successor to such affiliated group other than the TriMas Consolidated Group). 

  
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 “Horizon Employee” shall mean an employee of any member of the Horizon Group
immediately after the Spin-Off and any former employee of the Horizon Group who is not employed by a member of the TriMas Group immediately after the Distribution Date. 

“Horizon Group” shall mean (a) Horizon and each Person that is a direct or indirect Subsidiary of Horizon (including any
subsidiary that is disregarded for U.S. federal Income Tax purposes (or for purposes of any state, local, or foreign tax law)) immediately after the Spin-Offs, (b) any corporation (or other Person) that shall have merged or liquidated into
Horizon or any such Subsidiary or into which Horizon or any such Subsidiary shall have merged or liquidated (except to the extent described in clause (c) of the definition of TriMas Group), and (c) with respect to any Tax Return, any
corporation (or other Person) that is engaged in the Horizon Business when it is included in such Tax Return. 
 “Horizon Separate
Return” shall mean any Income Tax Return or Other Tax Return required to be filed by any member of the Horizon Group (including any consolidated, combined or unitary return) that does not include any member of the TriMas Group, including
any U.S. consolidated federal Income Tax Returns of the Horizon Consolidated Group required to be filed with respect to a Post-Distribution Taxable Period. 

“Horizon Tax Liability” shall mean any increase in Income Tax Liability or Other Tax Liability that would be payable by
Horizon or any member of the Horizon Group if the Horizon Group members were the only entities included in a Tax Return subject to Horizon Adjustments, over the Tax Liability of such Horizon Group members that would have been payable with respect to
such Tax Return if they were the only entities included in the Tax Return and without the Horizon Adjustments. 
 “Income
Tax” (a) shall mean (i) any federal, state, local or foreign tax, charge, fee, impost, levy or other assessment that is based upon, measured by, or calculated with respect to (A) net income or profits (including, but not
limited to, any capital gains, gross receipts, or minimum tax, and any tax on items of tax preference, but not including sales, use, value added, real property gains, real or personal property, transfer or similar taxes), (B) multiple bases
(including, but not limited to, corporate franchise, doing business or occupation taxes), if one or more of the bases upon which such tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause
(a)(i)(A) of this definition, or (C) any net worth, franchise or similar tax, in each case together with (ii) any interest and any penalties, fines, additions to tax or additional amounts imposed by any Tax Authority with respect thereto
and (b) shall include any transferee, successor or joint or several liability imposed by law or contract in respect of any amount described in clause (a) of this definition. 

  
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 “Income Tax Benefit” shall mean, with respect to the effect of any Carryback on
the Income Tax Liability of TriMas or the TriMas Group for any taxable period, the excess of (a) the hypothetical Income Tax Liability of TriMas or the TriMas Group for such taxable period, calculated as if such Carryback had not been utilized
but with all other facts unchanged over (b) the actual Income Tax Liability of TriMas or the TriMas Group for such taxable period, calculated taking into account such Carryback (and treating a Refund as a negative Income Tax Liability, for
purposes of such calculation). 
 “Income Tax Liability” shall mean any liability for Income Taxes. 

“Income Tax Return” shall mean any return, report, filing, statement, questionnaire, declaration or other document required
to be filed with a Tax Authority in respect of Income Taxes. 
 “Indemnified Party” shall mean any Person seeking
indemnification pursuant to the provisions of this Agreement. 
 “Indemnifying Party” shall mean any party hereto from
which any Indemnified Party is seeking indemnification pursuant to the provisions of this Agreement. 
 “Internal Spin-Off”
shall mean a distribution of the stock of one member of the TriMas Group (including, for this purpose, the Horizon Group) by another member prior to the External Distribution in order to effect the Separation. 

“IRS” shall mean the Internal Revenue Service of the United States. 

“Losses” shall mean any and all losses, liabilities, claims, damages, obligations, payments, costs and expenses, matured or
unmatured, absolute or contingent, accrued or unaccrued, liquidated or unliquidated, known or unknown (including the costs and expenses of any and all actions, threatened actions, demands, assessments, judgments, settlements and compromises relating
thereto and attorneys’ fees and any and all expenses whatsoever reasonably incurred in investigating, preparing or defending against any such actions or threatened actions). 

“Other Tax Liability” shall mean any liability for Other Taxes. 

“Other Tax Return” shall mean any return, report, filing, statement, questionnaire, declaration or other document required to
be filed with a Tax Authority in respect of Other Taxes. 
 “Other Taxes” shall mean all Taxes whenever created or imposed,
and whether of the United States of America or elsewhere, and whether imposed by a local, municipal, governmental, state, federation or other body, and without limiting the generality of the 

  
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foregoing, shall include superfund, sales, use, ad valorem, value added, occupancy, transfer, recording, withholding, payroll, employment, excise, occupation, premium or property taxes (in each
case, together with any related interest, penalties and additions to tax, or additional amounts imposed by any Tax Authority thereon); provided, however, that Other Taxes shall not include any Income Taxes. 

“Permitted Transaction” shall mean any transaction that satisfies the requirements of Section 5(c). 

“Person” shall mean any individual, partnership, joint venture, limited liability company, corporation, association, joint
stock company, trust, unincorporated organization or similar entity or a governmental authority or any department or agency or other unit thereof. 

“Post-Distribution Taxable Period” shall mean a taxable period that begins after the Distribution Date. 

“Pre-Distribution Taxable Period” shall mean a taxable period that ends on or before or that includes the Distribution Date.
For the avoidance of doubt, a Pre-Distribution Taxable Period includes a Straddle Period. 
 “Proceeding” shall mean any
audit or other examination, or judicial or administrative proceeding relating to liability for, or Refunds or adjustments with respect to, Income Taxes or Other Taxes. 

“Refund” shall mean any refund of Income Taxes or Other Taxes, whether paid in cash or applied to reduce any other Income Tax
Liabilities or Other Tax Liabilities by means of a credit, offset or otherwise. 
 “Representative” shall mean with respect
to a Person, such Person’s officers, directors, employees and other authorized agents. 
 “Restriction Period” shall
mean the period beginning on the Distribution Date and ending on the day after the second anniversary of the Distribution Date. 

“Separation Agreement” shall have the meaning set forth in the recitals to this Agreement. 

“Spin-Offs” shall mean the External and Internal Spin-offs. 

“Spin-Off-Related Losses” shall mean: 

(a) the Spin-Off Tax Liabilities, 

  
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 (b) all accounting, legal and other professional fees, and court costs incurred in connection
with any settlement, Final Determination, judgment or other determination with respect to such Spin-Off Tax Liabilities, and 
 (c) all
costs, expenses, damages and other Losses associated with stockholder litigation or controversies and any amount payable by TriMas or Horizon or their respective Affiliates in respect of the liability of shareholders, whether paid to shareholders or
to the IRS or any other Tax Authority in each case, resulting from the failure of any of the Spin-Off-Related Transactions to qualify for Tax-Free Status. 

“Spin-Off-Related Transactions” shall mean the Spin-Offs and other transactions carried out to effect the Separation. 

“Spin-Off Tax Liabilities” shall mean, with respect to any Taxing Jurisdiction, the sum of (a) any increase in Income
Tax Liability or Other Tax Liability (or reduction in a Refund) incurred as a result of any corporate-level gain or income recognized with respect to the failure of any of the Spin-Off-Related Transactions (other than Taxable Restructuring
Transactions) to qualify for Tax-Free Status under the Income Tax laws of such Taxing Jurisdiction pursuant to any settlement, Final Determination, judgment, assessment or otherwise, (b) interest on such amounts calculated pursuant to such
Taxing Jurisdiction’s laws regarding interest on tax liabilities at the highest Underpayment Rate for corporations in such Taxing Jurisdiction from the date any Taxes with respect to such additional gain or income were required to be paid until
full payment with respect thereto is made pursuant to Section 3 hereof (or in the case of a reduction in a Refund, the amount of interest that would have been received on the foregone portion of the Refund but for the failure of any of such
SpinOff-Related Transactions to qualify for Tax-Free Status), and (c) any penalties actually paid to such Taxing Jurisdiction that would not have been paid but for the failure of any of such Spin-Off-Related Transactions to qualify for Tax-Free
Status in such Taxing Jurisdiction. 
 “Straddle Period” shall mean any taxable period that begins on or before and ends
after the Distribution Date. 
 “Subsidiary” of any Person means another Person (a) in which the first Person owns,
directly or indirectly, an amount of the voting securities, voting partnership interests or other voting ownership sufficient to elect at least a majority of its board of directors or other governing body (or, if there are no such voting securities,
interests or ownership, a majority of the equity interests in such other Person), or (b) of which the first Person otherwise has the power to direct the management and policies. A Subsidiary may be owned directly or indirectly by such first
Person or by another Subsidiary of such first Person. 
 “Tax” shall mean all Income Taxes and Other Taxes. 

  
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 “Tax Attribute” shall mean a net operating loss, net capital loss, overall
domestic loss, unused investment credit, unused foreign tax credit, excess charitable contribution or comparable provisions of foreign, state or local tax law, or a minimum tax credit or general business credit. 

“Tax Authority” shall mean a governmental authority (foreign or domestic) or any subdivision, agency, commission or authority
thereof or any quasi-governmental or private body having jurisdiction over the assessment, determination, collection or imposition of any Tax (including the IRS). 

“Tax Benefit” shall mean any deduction, loss, credit, decrease in income or gain, or other item which, when taken into
account in a Tax Return, has the effect of reducing the Taxes that would otherwise be payable with respect to such Tax Return. 

“Tax Counsel” shall mean tax counsel of recognized national standing that is acceptable to TriMas. 

“Tax Dispute” shall have the meaning set forth in Section 10 of this Agreement. 

“Tax Dispute Arbitrator” shall have the meaning set forth in Section 10 of this Agreement. 

“Tax-Free Status” shall mean the qualification of each of the Spin-Off-Related Transactions as a transaction in which TriMas,
the other members of the TriMas Group, Horizon and the other members of the Horizon Group recognize no income or gain other than intercompany items taken into account pursuant to the Treasury Regulations promulgated pursuant to Section 1502 of
the Code. 
 “Tax Opinion” shall mean the tax opinion issued by Tax Counsel in connection with the Spin-Off-Related
Transactions. 
 “Tax Opinion Documents” shall mean the Tax Opinion and the information and representations provided by, or
on behalf of, TriMas or Horizon to Tax Counsel in connection therewith. 
 “Tax Returns” shall mean all Income Tax Returns
and Other Tax Returns. 
 “Taxable Restructuring Transactions” shall mean any Spin-Off-Related Transactions that are not
intended to have, and for which no Tax Opinion is received that they should have, Tax-Free Status. 
 “Taxing Jurisdiction”
shall mean the United States and every other government or governmental unit having jurisdiction to tax TriMas or Horizon or any of their respective Affiliates. 

“TriMas” shall have the meaning set forth in the first paragraph of this Agreement. 

  
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 “TriMas Adjustment” shall mean an adjustment of any item of income, gain, loss,
deduction, credit or other Tax item attributable to any member of the TriMas Group (including, in the case of any state or local consolidated, combined or unitary income or franchise taxes, a change in one or more apportionment factors of members of
the TriMas Group) pursuant to a Final Determination for a Pre-Distribution Taxable Period. 
 “TriMas Business” shall mean
each trade or business that is actively conducted (within the meaning of Section 355(b) of the Code) by TriMas or any other member of the TriMas Group immediately after the Spin-Off and that is relied upon in the Tax Opinion Documents to
satisfy the requirements of Section 355(b) with respect to the Spin-Offs. 
 “TriMas Consolidated Group” shall mean
the affiliated group of corporations (within the meaning of Section 1504(a) of the Code) of which TriMas is the common parent (and any predecessor or successor to such affiliated group). 

“TriMas Employee” shall mean an employee of any member of the TriMas Group immediately after the Spin-Off and any former
employee of the TriMas Group who is not a Horizon Employee. 
 “TriMas Group” shall mean (a) TriMas and each Person
that is a direct or indirect Subsidiary of TriMas (including any Subsidiary of TriMas that is disregarded for U.S. federal Income Tax purposes (or for purposes of any state, local, or foreign tax law)) immediately after the External Spin-Off,
(b) any corporation (or other Person) that shall have merged or liquidated into TriMas or any such Subsidiary (except to the extent described in clause (c) of the definition of “Horizon Group”), (c) any corporation (or other
Person) engaged in the TriMas Business when it is included in a Tax Return, with respect to such Tax Return, and (d) any predecessor or successor to any Person otherwise described in this definition. 

“TriMas Separate Return” shall mean any Income Tax Return or Other Tax Return required to be filed by any member of the
TriMas Group (including any consolidated, combined or unitary return) that does not include any member of the Horizon Group. 

“TriMas Tax Liability” shall mean any increase in Income Tax Liability or Other Tax Liability that would be payable by TriMas
or any member of the TriMas Group if the TriMas Group members were the only entities included in a Tax Return subject to TriMas Adjustments, over the Tax Liability of such TriMas Group members that would have been payable with respect to such Tax
Return if they were the only entities included in the Tax Return and without the TriMas Adjustments. 

  
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 “Underpayment Rate” shall mean the annual rate of interest described in
Section 6621(c) of the Code for large corporate underpayments of Income Tax (or similar provision of state, local or foreign Income Tax law, as applicable), as determined from time to time. 

“Unqualified Tax Opinion” shall mean an unqualified opinion of Tax Counsel on which TriMas may rely to the effect that a
transaction will not disqualify any of the Spin-Off-Related Transactions from Tax-Free Status, assuming that the Spin-Off-Related Transactions would have qualified for Tax-Free Status if such transaction did not occur. 

(b) Interpretation. In this Agreement, unless the context clearly indicates otherwise: 

(i) words used in the singular include the plural and words used in the plural include the singular; 

(ii) references to any Person include such Person’s successors and assigns but, if applicable, only if such successors and
assigns are permitted by this Agreement, and a reference to such Person’s “Affiliates” or “Subsidiaries” shall be deemed to mean such Person’s Subsidiaries following the Distribution; 

(iii) any reference to any gender includes the other gender and the neuter; 

(iv) the words “include,” “includes” and “including” shall be deemed to be followed by the words
“without limitation”; 
 (v) the words “shall” and “will” are used interchangeably and have the
same meaning; 
 (vi) the word “or” shall have the inclusive meaning represented by the phrase “and/or”;

 (vii) any reference to any Section means such Section of this Agreement, and references in any Section or definition to
any clause mean such clause of such Section or definition; 
 (viii) the words “herein,” “hereunder,”
“hereof,” “hereto” and words of similar import shall be deemed references to this Agreement as a whole and not to any particular Section or other provision of this Agreement; 

(ix) any reference to any agreement, instrument or other document means such agreement, instrument or other document as
amended, supplemented and modified from time to time to the extent permitted by the provisions thereof and by this Agreement; 

  
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 (x) any reference to any law (including statutes and ordinances) means such law
(including all rules and regulations promulgated thereunder) as amended, modified, codified or reenacted, in whole or in part, and in effect at the time of determining compliance or applicability; 

(xi) relative to the determination of any period of time, “from” means “from and including,” “to”
means “to but excluding” and “through” means “through and including”; 
 (xii) if there is any
conflict between the provisions of the Separation and Distribution Agreement and this Agreement, the provisions of this Agreement shall control with respect to the subject matter hereof; 

(xiii) the headings of Sections contained in this Agreement have been inserted for convenience of reference only and shall not
be deemed to be a part of or to affect the meaning or interpretation of this Agreement; 
 (xiv) any portion of this
Agreement obligating a party to take any action or refrain from taking any action, as the case may be, shall mean that such party shall also be obligated to cause its relevant Subsidiaries to take such action or refrain from taking such action, as
the case may be; and 
 (xv) the language of this Agreement shall be deemed to be the language the parties hereto have chosen
to express their mutual intent, and no rule of strict construction shall be applied against any party. 
 2. Sole Tax Sharing
Agreement.  
 This Agreement shall constitute the entire agreement between TriMas and Horizon and their respective Affiliates
(including direct or indirect corporate Subsidiaries, controlled partnerships, and controlled limited liability companies) with respect to the subject matters herein. Further, for the avoidance of doubt, this Agreement shall control with respect to
any matters set forth herein, including but not limited to preparing and filing Tax Returns, making any Tax elections, and the control and resolution of disputes with respect to Tax Returns. 

3. Preparation and Filing of Tax Returns; Payment of Taxes.  

(a) Filing of Tax Returns and Payment of Taxes.  

(i) Combined Tax Returns. TriMas shall prepare and file or cause to be prepared and filed all Combined Returns for
Income Taxes and Other Taxes, and shall pay all Taxes due with respect to such Tax Returns. 

  
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 (ii) TriMas Separate Returns. TriMas shall prepare and file or cause to be
prepared and filed all TriMas Separate Returns and shall pay, or cause to be paid, and shall be responsible for, any and all Income Taxes or Other Taxes due or required to be paid with respect to any TriMas Separate Return for both Pre-Distribution
Taxable Periods and Post-Distribution Taxable Periods 
 (iii) Horizon Separate Returns. Horizon shall prepare and
file or cause to be prepared and filed all Horizon Separate Returns and shall pay, or cause to be paid, and shall be responsible for, any and all Income Taxes or Other Taxes due or required to be paid with respect to any Horizon Separate Return for
both Pre-Distribution Taxable Periods and Post-Distribution Taxable Periods. 
 (iv) Transfer Taxes. TriMas shall be
responsible for, and shall indemnify Horizon against, all transfer, documentary, sales, use, registration and similar Taxes and related fees incurred as a result of the Spin-Off-Related Transactions. TriMas shall timely prepare and file all Tax
Returns as may be required in connection with the payment of such Taxes. 
 (v) Amended Returns. (A) Horizon (and
not any member of the TriMas Group) shall be entitled to amend any Horizon Separate Returns, (B) TriMas (and not any member of the Horizon Group) shall be entitled to amend any TriMas Separate Returns, and (C) TriMas (and not any member of
the Horizon Group) shall be entitled to file amended Combined Returns. In the event that an amended Tax Return described in Section 3(b)(v)(C) results in a Refund of Taxes to any member of the TriMas Group or the Horizon Group, the Party
entitled to such Refund shall be the Party that would be entitled to such Refund under Section 3(c)(ii) if such Refund had been attributable to a Final Determination. If an amended Tax Return results in the payment of additional Taxes, such
Taxes shall be the responsibility of the Party that would be responsible for such Taxes under Section 3(c)(i) if such Taxes had been attributable to a TriMas Adjustment or a Horizon Adjustment, as the case may be. 

(vi) Timing of Payments. Except as otherwise specifically set forth in this Agreement, all payments required to be made
by one Person to another Person pursuant to this Section 3 shall be made no later than five days prior to the date such Taxes are due to the relevant Tax Authority or, in the case of any amended Tax Return, within five days after any Taxes
attributable to such Tax Return are Actually Realized. 
 (b) Preparation of Tax Returns.  

(i) Unless otherwise required by law, all Tax Returns including a member of the Horizon Group filed after the date of this
Agreement with respect to a Pre-Distribution Taxable Period shall be prepared on a basis consistent with the 

  
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elections, accounting methods, conventions and principles of taxation used for the most recent taxable periods for which such Tax Returns and accruals involving similar items have been filed. All
decisions relating to the preparation of such Tax Returns shall be made in the sole discretion of the party responsible under this Agreement for such preparation. 

(ii) TriMas shall determine the items of income, gain, deduction, loss and credit of each member of the Horizon Group that must
be included in the federal Income Tax Return of the TriMas Consolidated Group or any other Combined Return for any Pre-Distribution Taxable Year by closing the books of the members of the Horizon Group at the Distribution Date. 

(iii) Horizon shall, and shall cause each other member of the Horizon Group to, prepare and submit at TriMas’s request
(and in no event later than 60 days after such request), at Horizon’s expense, all information that TriMas shall reasonably request, in such form as TriMas shall reasonably request, to enable TriMas to prepare any Income Tax Return or Other Tax
Return required to be filed by TriMas pursuant to this Agreement. TriMas shall make any such Income Tax Return or Other Tax Return and related workpapers available for review by Horizon to the extent such return relates to Taxes for which any member
of the Horizon Group would reasonably be expected to be liable. 
 (iv) Except as required by applicable law or as a result
of a Final Determination, neither TriMas nor Horizon shall (nor shall either cause or permit any other members of the TriMas Group or Horizon Group, respectively, to) take any position that is either inconsistent with the treatment of the
Spin-Off-Related Transactions as having Tax-Free Status (or analogous status under state, local or foreign law) or with respect to a specific item of income, deduction, gain, loss or credit on an Income Tax Return or Other Tax Return, treat such
specific item in a manner which is inconsistent with the manner such specific item is reported on an Income Tax Return or Other Tax Return prepared or filed by TriMas pursuant to this Section 3(b) (including the claiming of a deduction
previously claimed on any such Income Tax Return or Other Tax Return). 
 (c) Tax Adjustments due to a Final Determination and Refunds.
 
 (i) Tax Payments. Except as provided in Section 4(b), TriMas shall pay or cause to be paid all TriMas Tax
Liabilities. Except as provided in Section 4(a), Horizon shall pay or cause to be paid all Horizon Tax Liabilities. If the amount of TriMas Tax Liability or Horizon Tax Liability exceeds the amount of Taxes actually payable with respect to a
Tax Return that is subject to a TriMas Adjustment and/or Horizon Adjustment, the excess shall be paid to the party whose Tax Benefits were Actually Realized to create such excess, in compensation therefor. 

  
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 (ii) Refunds. (A) Except as provided in Section 3(c)(ii)(B),
TriMas shall be entitled to all Refunds of Taxes received by any member of the Horizon Group or the TriMas Group with respect to any Pre-Distribution Taxable Period. (B) Horizon shall be entitled to Refunds of Taxes for Pre-Distribution Taxable
Periods to the extent such Refunds are attributable to Horizon Adjustments that increased Taxes attributable to and payable by a member of the Horizon Group under Section 3(c)(i). A party receiving a Refund to which another party is entitled
pursuant to this Section 3(c)(ii) shall pay such Refund to the other party within fifteen Business Days after such Refund is Actually Realized; provided, however, that if such Refund increases any Taxes of the party receiving the Refund, the
amount of Refund payable shall be net of such Taxes. 
 4. Indemnification for Income Taxes and Other Taxes. 

(a) Indemnification by TriMas. From and after the Distribution Date, TriMas and each other member of the TriMas Group shall jointly and
severally indemnify, defend and hold harmless Horizon and each other member of the Horizon Group and each of their respective Representatives from and against (i) all Income Tax Liabilities and Other Tax Liabilities that TriMas or any other
member of the TriMas Group is responsible for pursuant to Section 3, (ii) 100% of any Taxes attributable to Taxable Restructuring Transactions, and (iii) all Spin-Off-Related Losses incurred by any member of the TriMas Group or
Horizon Group that are not described in Section 4(b)(iii). 
 (b) Indemnification by Horizon. From and after the Distribution
Date, Horizon and each other member of the Horizon Group shall jointly and severally indemnify, defend and hold harmless TriMas and each other member of the TriMas Group and each of their respective Representatives from and against (i) all
Horizon Tax Liabilities, Income Tax Liabilities and Other Tax Liabilities that Horizon or any other member of the Horizon Group is responsible for under Section 3, and (ii) Spin-Off-Related Losses incurred by any member of the TriMas Group
or Horizon Group for which Horizon is responsible under Section 5. 
 (c) Timing of Indemnification Payments. Any payment with
respect to any indemnification obligation pursuant to this Section 4 shall be made by the Indemnifying Party promptly, but, in any event, no later than: 

(i) in the case of an indemnification obligation with respect to any Horizon Tax Liabilities, Spin-Off Tax Liabilities, Income
Tax Liabilities or Other Tax Liabilities, the later of (A) five Business Days after the Indemnified Party notifies the Indemnifying Party and (B) five Business Days prior to the date the Indemnified Party is required to make a payment of
taxes, interest, or penalties to the applicable Tax Authority (including a payment with respect to an assessment of a tax deficiency by any Taxing Jurisdiction or a payment made in settlement of an asserted tax deficiency) or realizes a reduced
Refund; and 

  
 15 

 (ii) in the case of any payment or indemnification of any Losses not described in
Section 4(c)(i) (including, but not limited to, any Losses described in clause (b) or (c) of the definition of Spin-Off-Related Losses, attorneys’ fees and expenses and other indemnifiable Losses), the later of (A) five
Business Days after the Indemnified Party notifies the Indemnifying Party and (B) five Business Days prior to the date the Indemnified Party makes a payment thereof. 

(d) Tax Benefits. If an indemnification obligation of TriMas under Section 4(a) results in Tax Benefits to Horizon or any other
member of the Horizon Group, which would not, but for the indemnification obligation (or the adjustment giving rise to such indemnification obligation), be allowable, then Horizon shall pay TriMas the amount by which such Tax Benefit actually
reduces, in cash, the amount of Tax that Horizon or any other member of the Horizon Group would have been required to pay and bear (or increases, in cash, the amount of a Refund to which Horizon or any other member of the Horizon Group would have
been entitled) but for such indemnification obligation (or adjustment giving rise to such indemnification obligation). Horizon shall pay TriMas for such Tax Benefit no later than five Business Days after such Tax Benefit is Actually Realized. If the
indemnification obligation of Horizon under Section 4(b) results in Tax Benefits to TriMas or any other member of the TriMas Group, which would not, but for the indemnification obligation (or the adjustment giving rise to such indemnification
obligation), be allowable, then TriMas shall pay Horizon the amount by which such Tax Benefit actually reduces, in cash, the amount of Tax that TriMas or any other member of the TriMas Group would have been required to pay and bear (or increases, in
cash, the amount of a Refund to which TriMas or any other member of the TriMas Group would have been entitled) but for such indemnification obligation (or adjustment giving rise to such indemnification obligation). TriMas shall pay Horizon for such
Tax Benefit no later than five Business Days after such Tax Benefit is Actually Realized. 
 5. Spin-Off Related Matters. 

 (a) Representations.  

(i) Tax Opinion Documents. Horizon hereby represents and warrants that it has examined the Tax Opinion Documents
(including the representations to the extent that they relate to the plans, proposals, intentions, and policies of Horizon, its Subsidiaries, the Horizon Business, or the Horizon Group), and to the extent they refer to Horizon, its Subsidiaries, the
Horizon Business, or the Horizon Group, the facts presented and the representations made therein are true, correct and complete. 

  
 16 

 (ii) Tax-Free Status. Horizon hereby represents and warrants that neither
Horizon nor any other member of the Horizon Group has a plan or intention to take any action, or fail to take any action, or knows of any circumstance, that could reasonably be expected to (A) cause any of the Spin-Off-Related Transactions that
are intended to have Tax-Free Status not to have Tax-Free Status or (B) cause any representation or factual statement made in this Agreement, the Separation Agreement or the Tax Opinion Documents to be untrue in a manner that would have an
adverse effect on the Tax-Free Status of any of the Spin-Off-Related Transactions. 
 (iii) Plan or Series of Related
Transactions. Horizon hereby represents and warrants that, to the best knowledge of Horizon, after due inquiry, none of the Spin-Off-Related Transactions are part of a plan (or series of related transactions) pursuant to which a Person will
acquire stock representing a Fifty-Percent or Greater Interest in Horizon or any successor to Horizon. 
 (b) Covenants. 

(i) Actions Consistent with Representations and Covenants. Neither TriMas nor Horizon shall take any action or permit
any other member of the TriMas Group or the Horizon Group, respectively, to take any action, or shall fail to take any action or permit any other member of the TriMas Group or the Horizon Group, respectively, to fail to take any action, where such
action or failure to act would be inconsistent with or cause to be untrue any material information, covenant or representation in this Agreement, the Separation and Distribution Agreement or the Tax Opinion Documents. 

(ii) Preservation of Tax-Free Status. Horizon shall not take any action (including any cessation, transfer or
disposition of all or any portion of any Horizon Business, payment of extraordinary dividends, acquisitions or issuances of stock or entering into any agreement, understanding, arrangement or substantial negotiations regarding any such actions) or
permit any other member of the Horizon Group to take any such action, or fail to take any such action or permit any other member of the Horizon Group to fail to take any such action, in each case, unless such action or failure to act would not cause
any of the Spin-Off-Related Transactions to fail to have Tax-Free Status or could not require TriMas or Horizon to reflect a liability or reserve with respect to any of the Spin-Off-Related Transactions in its financial statements. 

(iii) Horizon Business. Until the first day after the Restriction Period Horizon shall not, and shall not permit any
member of the Horizon Group to, engage in any transaction (including any cessation, transfer or disposition of all or any portion of any Horizon Business) that would result in Horizon or its “separate affiliated group” (within the meaning
of Section 355(b) of the Code) ceasing to be engaged in any Horizon Business for purposes of Section 355(b). 

  
 17 

 (iv) Sales, Issuances and Redemptions of Equity Securities. Until the
first day after the Restriction Period, none of Horizon or any other member of the Horizon Group shall, or shall agree to, sell or otherwise issue to any Person, or redeem or otherwise acquire from any Person, any Equity Securities of Horizon or any
other member of the Horizon Group; provided, however, that Horizon may issue such Equity Securities to the extent such issuances satisfy Safe Harbor VIII (relating to acquisitions in connection with a person’s performance of services) or
Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulation Section 1.355-7(d). 

(v) Tender Offer; Other Business Transactions. Until the first day after the Restriction Period, none of Horizon or any
other member of the Horizon Group shall (A) solicit any Person to make a tender offer for, or otherwise acquire or sell, the Equity Securities of Horizon, (B) participate in or support any unsolicited tender offer for, or other
acquisition, issuance or disposition of, the Equity Securities of Horizon or (C) approve or otherwise permit any proposed business combination or any transaction which, in the case of clauses (A) or (B), individually or in the aggregate,
together with any transaction occurring within the four-year period beginning on the date which is two years before the Distribution Date and any other transaction which is part of a plan or series of related transactions (within the meaning of
Section 355(e) of the Code) that includes the Spin-Off, could result in one or more Persons acquiring (except for acquisitions that otherwise satisfy Safe Harbor VIII (relating to acquisitions in connection with a person’s performance of
services) or Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulation Section 1.355-7(d)) directly or indirectly stock representing a 25% or greater interest, by vote or value, in Horizon (or any
successor thereto). 
 (vi) Dispositions of Assets. Until the first day after the Restriction Period none of Horizon
or any other member of the Horizon Group shall sell, transfer or dispose of, or agree to sell, transfer or dispose of, more than 35% of the gross assets of any Horizon Business (such percentages to be measured by fair market values on the
Distribution Date) or transfer any assets of the Horizon Group in a transaction described in Section 351 of the Code (other than a transfer to a corporation that is a member of Horizon’s “separate affiliated group” within the
meaning of Section 355(b) of the Code). The foregoing sentence shall not apply to sales, transfers, or dispositions of inventory in the ordinary course of business. 

(vii) Liquidations, Mergers, Reorganizations. Until the first day after the Restriction Period, neither Horizon nor any
of its Subsidiaries shall, or shall agree to, voluntarily dissolve or liquidate or engage in any transaction involving a merger, consolidation or other reorganization; provided, however, that mergers of direct or indirect wholly-owned
Subsidiaries of Horizon solely with and into Horizon or with other direct or indirect wholly-owned Subsidiaries of Horizon, and liquidations of Horizon’s Subsidiaries are not subject to this Section 5(b)(vi) to the extent not inconsistent
with the Tax-Free Status of the Spin-Off-Related Transactions. 

  
 18 

 (c) Permitted Transactions. Notwithstanding the restrictions otherwise imposed by Sections
5(b)(iii) through 5(b)(vii), during the Restriction Period, Horizon may (i) engage in a transaction that would result in Horizon or its “separate affiliated group” ceasing to be engaged in any Horizon Business, (ii) issue, sell,
redeem or otherwise acquire (or cause another member of the Horizon Group to issue, sell, redeem or otherwise acquire) Equity Securities of Horizon or any other member of the Horizon Group in a transaction that would otherwise breach the covenant
set forth in Section 5(b)(iv), (iii) approve, participate in, support or otherwise permit a proposed business combination or transaction that would otherwise breach the covenant set forth in Section 5(b)(v), (iv) sell or
otherwise dispose of the assets of Horizon or any other member of the Horizon Group in a transaction that would otherwise breach the covenant set forth in Section 5(b)(vi) or (v) merge Horizon or any other member of the Horizon Group with
another entity without regard to which party is the surviving entity in a transaction that would otherwise breach the covenant set forth in Section 5(b)(vii), in each case, if and only if such transaction would not violate Section 5(b)(i)
or Section 5(b)(ii) and prior to entering into any agreement contemplating a transaction described in clauses (i), (ii), (iii), (iv) or (v) of this Section 5(c), and prior to consummating any such transaction:
(X) Horizon shall provide TriMas with an Unqualified Tax Opinion in form and substance satisfactory to TriMas in its sole and absolute discretion, exercised in good faith, (Y) Horizon shall request that TriMas obtain a private letter
ruling from the IRS, at the expense of Horizon, to the effect that such transaction will not affect the Tax-Free Status of any of the Spin-Off-Related Transactions and TriMas shall have received such a private letter ruling, in form and substance
satisfactory to TriMas in its sole and absolute discretion, exercised in good faith, or (Z) TriMas in its sole and absolute discretion shall have waived in writing the requirement to obtain such Unqualified Tax Opinion or private letter ruling.

 (d) Liability of Horizon for Undertaking Certain Actions. Notwithstanding anything in this Agreement to the contrary, Horizon and
each other member of the Horizon Group shall be responsible for any and all Spin-Off-Related Losses to the extent that they are attributable to, or result from: 

(i) any act or failure to act by Horizon or any other member of the Horizon Group, which act or failure to act breaches any of
the covenants described in Section 5(b)(i) through 5(b)(vii) of this Agreement (without regard to the exceptions or provisos set forth in such provisions), expressly including, for this purpose, any Permitted Transaction and any act or failure
to act that breaches Section 5(b)(i) or 5(b)(ii), regardless of whether such act or failure to act is permitted by Section 5(b)(iii) through 5(b)(vii); 

  
 19 

 (ii) any acquisition of Equity Securities of Horizon or any other member of the
Horizon Group by any Person or Persons (including as a result of an issuance of Horizon Equity Securities or a merger of another entity with and into Horizon or any other member of the Horizon Group) or any acquisition of assets of Horizon or any
other member of the Horizon Group (including as a result of a merger) by any Person or Persons; or 
 (iii) a breach by
Horizon or any other member of the Horizon Group of a representation made in this Agreement (or made in connection with the Tax Opinion.). 

(e) Cooperation.  

(i) TriMas shall reasonably cooperate with Horizon in connection with any request by Horizon for an Unqualified Tax Opinion
pursuant to Section 5(c). 
 (ii) Until the first day after the Restriction Period, Horizon will provide adequate
advance notice to TriMas in accordance with the terms of Section 5(e)(iii) of any action described in Sections 5(b)(i) through 5(b)(vii) within a period of time sufficient to enable TriMas to seek injunctive relief as contemplated by
Section 5(f). 
 (iii) Each notice required by Section 5(e)(ii) shall set forth the terms and conditions of any
such proposed transaction, including (A) the nature of any related action proposed to be taken by the board of directors of Horizon, (B) the approximate number of Equity Securities (and their voting and economic rights) of Horizon or any
other member of the Horizon Group (if any) proposed to be sold or otherwise issued, (C) the approximate value of Horizon’s assets (or assets of any other member of the Horizon Group) proposed to be transferred, and (D) the proposed
timetable for such transaction, all with sufficient particularity to enable TriMas to seek injunctive relief pursuant to Section 5(f). Promptly, but in any event within 30 days after TriMas receives such written notice from Horizon, TriMas
shall notify Horizon in writing of TriMas’s decision to seek such injunctive relief. 
 (f) Enforcement. The parties hereto
acknowledge that irreparable harm would occur in the event that any of the provisions of this Section 5 were not performed in accordance with their specific terms or were otherwise breached. The parties hereto agree that, in order to preserve
the Tax-Free Status of the Spin-Off-Related Transactions, injunctive relief is appropriate to prevent any violation of the foregoing covenants; provided, however, that injunctive relief shall not be the exclusive legal or equitable remedy for
any such violation. 
 6. Tax Contests.  

  
 20 

 (a) Notification. Each of TriMas and Horizon shall notify the other party in writing of
any demand, claim or notice of the commencement of an audit received by such Party from any Tax Authority or other Person with respect to any Income Taxes or Other Taxes of TriMas or any other member of the TriMas Group, or Horizon or any other
member of the Horizon Group, respectively, for which a member of the Horizon Group or the TriMas Group, respectively, may be responsible pursuant to this Agreement within ten (10) Business Days of receipt; provided, however, that in the
case of any demand, claim or notice of the commencement of an audit that is reasonably expected to give rise to a Distribution-Related Proceeding, regardless of whether Horizon or TriMas may be responsible for any resulting Taxes, TriMas or Horizon,
as the case may be, shall provide written notice to the other party no later than ten (10) Business Days after TriMas or Horizon receives any written notice of such a demand, claim or notice of commencement of an audit from the IRS or other Tax
Authority. Each of TriMas and Horizon shall include with such notice a true, correct and complete copy of any written communication, and an accurate and complete written summary of any oral communication, received by TriMas or any other member of
the TriMas Group, or Horizon or any other member of the Horizon Group, respectively. The failure of TriMas or Horizon timely to provide such notice in accordance with the first sentence of this Section 6(a) shall not relieve Horizon or TriMas,
respectively, of any obligation to pay such Income Tax Liability or Other Tax Liability or indemnify TriMas and the other members of the TriMas Group, or Horizon and the other members of the Horizon Group, respectively, and their respective
Representatives therefor, except to the extent that the failure timely to provide such notice actually prejudices the ability of Horizon or TriMas to contest such Income Tax Liability or Other Tax Liability or increases the amount of such Income Tax
Liability or Other Tax Liability. 
 (b) Representation with Respect to Tax Disputes. TriMas (or such other member of the TriMas
Group as TriMas may designate) shall have the sole right to represent the interests of the members of the TriMas Group and the members of the Horizon Group and to employ counsel of its choice in any Proceeding relating to (i) any U.S.
consolidated federal Income Tax Returns of the TriMas Consolidated Group, (ii) any other Combined Returns, and (iii) any TriMas Separate Returns. TriMas may affirmatively elect, in writing and at its sole and absolute discretion, not to
assert control of a Proceeding described in clause (ii) of the immediately preceding sentence, in which case Horizon shall have the right to control such Proceeding and TriMas shall have the right to participate therein at its own cost;
provided, however, that Horizon shall not have the right to settle any such Proceeding without the prior written consent of TriMas (which shall not be unreasonably withheld). TriMas shall bear all expenses relating to any Proceeding referred
to in the first sentence of this Section 6(b), except that, with respect to a Proceeding relating to any Combined Return, expenses shall be borne by TriMas and Horizon to the extent such expenses relate to proposed TriMas Adjustments or
proposed Horizon Adjustments, respectively; provided, however, that to the extent such expenses cannot reasonably be attributed to proposed TriMas Adjustments or proposed Horizon Adjustments, such expenses shall be borne equally by TriMas and
Horizon. Horizon (or such other member of the Horizon Group as Horizon may designate) shall have the sole right to represent the interests of the members of the Horizon Group and to employ counsel of its choice at its expense in any Proceeding
relating to Horizon Separate Returns. 

  
 21 

 (c) Power of Attorney. Each member of the Horizon Group shall execute and deliver to
TriMas (or such other member of the TriMas Group as TriMas may designate) any power of attorney or other document requested by TriMas (or such designee) in connection with any Proceeding described in the first sentence of Section 6(b). 

(d) Distribution-Related Proceedings, Proceedings with Respect to Horizon Tax Liabilities. 

(i) In the event of any Distribution-Related Proceeding or Proceeding relating to a Horizon Tax Liability as a result of which
Horizon could reasonably be expected to become liable for Tax or any Spin-Off-Related Losses and with respect to which TriMas has the right to represent the interests of the members of the TriMas Group and/or the members of the Horizon Group
pursuant to Section 6(b) above, (A) TriMas shall consult with Horizon reasonably in advance of taking any significant action in connection with such Proceeding, (B) TriMas shall consult with Horizon and offer Horizon a reasonable
opportunity to comment before submitting any written materials prepared or furnished in connection with such Proceeding, (C) TriMas shall defend such Proceeding diligently and in good faith as if it were the only party in interest in connection
with such Proceeding, and (D) TriMas shall provide Horizon copies of any written materials relating to such Proceeding received from the relevant Tax Authority. Notwithstanding anything in the preceding sentence to the contrary, the final
determination of the positions taken, including with respect to settlement or other disposition, in (i) any Distribution-Related Proceeding, or (ii) any other Proceeding relating to a Tax Return described in Section 6(b) with respect
to which TriMas is entitled to represent the interests of the members of the TriMas Group and/or the members of the Horizon Group, shall be made in the sole discretion of TriMas and shall not be subject to the Dispute Resolution provisions of
Section 10. 
 (ii) In the event of any Distribution-Related Proceeding with respect to any Horizon Separate Return,
(A) Horizon shall consult with TriMas reasonably in advance of taking any significant action in connection with such Proceeding, (B) Horizon shall consult with TriMas and offer TriMas a reasonable opportunity to comment before submitting
any written materials prepared or furnished in connection with such Proceeding, (C) Horizon shall defend such Proceeding diligently and in good faith as if it were the only party in interest in connection with such Proceeding, (D) TriMas
shall be entitled to participate in such Proceeding and receive copies of any written materials relating to such Proceeding received from the relevant Tax Authority, and (E) Horizon shall not settle, compromise or abandon any such Proceeding
without obtaining the prior written consent of TriMas, which consent shall not be unreasonably withheld. 

  
 22 

 7. Apportionment of Tax Attributes; Carrybacks.  

(a) Apportionment of Tax Attributes.  

(i) If the TriMas Consolidated Group has a Tax Attribute, the portion, if any, of such Tax Attribute apportioned to Horizon or
any other member of the Horizon Consolidated Group and treated as a carryover to the first Post-Distribution Taxable Period of Horizon (or such member) shall be determined by TriMas in accordance with Treasury Regulation Sections 1.1502-9,
1.1502-21, 1.1502-22, and 1.1502-79. 
 (ii) No Tax Attribute with respect to consolidated U.S. federal Income Tax of the
TriMas Consolidated Group, other than those described in Section 7(a)(i), and no Tax Attribute with respect to consolidated, combined or unitary state, local or foreign Income Tax, in each case, arising in respect of a Combined Return shall be
apportioned to Horizon or any other member of the Horizon Group, except as TriMas (or such other member of the TriMas Group as TriMas may designate) determines is otherwise required under applicable law. 

(iii) TriMas (or its designee) shall determine the portion, if any, of any Tax Attribute which must (absent a Final
Determination to the contrary) be apportioned to Horizon or any other member of the Horizon Group in accordance with this Section 7(a) and applicable law, and the amount of earnings and profits to be apportioned to Horizon or any other member
of the Horizon Group in accordance with applicable law. 
 (iv) Except as otherwise required by applicable law or pursuant to
a Final Determination, no member of the Horizon Group shall take any position (whether on a Tax Return or otherwise) that is inconsistent with the apportionment by TriMas in Section 7(a)(iii). 

(b) Carrybacks. Except to the extent otherwise consented to by TriMas or as prohibited by applicable law, Horizon and each other member
of the Horizon Group shall elect to relinquish, waive or otherwise forgo all Carrybacks to a Combined Return. In the event that Horizon (or the appropriate other member of the Horizon Group) is prohibited by applicable law from relinquishing,
waiving or otherwise forgoing a Carryback (or TriMas consents to a Carryback), (i) TriMas shall cooperate with Horizon, at Horizon’s expense, in seeking from the appropriate Tax Authority such Refund as reasonably would result from such
Carryback, and (ii) Horizon shall be entitled to any Income Tax Benefit Actually Realized by a member of the TriMas Group (including any interest 

  
 23 

 
thereon received from such Tax Authority), to the extent that such Refund is directly attributable to such Carryback, within 15 Business Days after such Refund is Actually Realized; provided,
however, that Horizon shall indemnify and hold the members of the TriMas Group harmless from and against any and all collateral Tax consequences resulting from or caused by any such Carryback, including (but not limited to) the loss or
postponement of any benefit from the use of Tax Attributes generated by a member of the TriMas Group or an Affiliate thereof if (x) such Tax Attributes expire unutilized, but would have been utilized but for such Carryback, or (y) the use
of such Tax Attributes is postponed to a later taxable period than the taxable period in which such Tax Attributes would have been utilized but for such Carryback. 

9. Cooperation and Exchange of Information.  

(a) Cooperation and Exchange of Information. Each of TriMas and Horizon, on behalf of itself and each other member of the TriMas Group
and the Horizon Group, respectively, agrees to provide the other party (or its designee) with such cooperation or information as such other party (or its designee) reasonably shall request in connection with the determination of any payment or any
calculations described in this Agreement, the preparation or filing of any Income Tax Return or Other Tax Return or claim for Refund, or the conduct of any Proceeding. Such cooperation and information shall include, upon reasonable notice,
(i) promptly forwarding copies of appropriate notices and forms or other communications (including information document requests, revenue agent’s reports and similar reports, notices of proposed adjustments and notices of deficiency)
received from or sent to any Tax Authority or any other administrative, judicial or governmental authority, (ii) providing copies of all relevant Income Tax Returns or Other Tax Returns, together with accompanying schedules and related
workpapers, documents prepared in connection with obtaining rulings or other determinations by any Tax Authority, and such other records or documents in the possession of a party concerning the ownership and Tax basis of property or other matters
relating to Taxes, (iii) the provision of such additional information and explanations of documents and information provided under this Agreement (including statements, certificates, forms, returns and schedules delivered by either party) as
shall be reasonably requested by TriMas (or its designee) or Horizon (or its designee), as the case may be, (iv) the execution of any document that may be necessary or reasonably helpful in connection with the filing of an Income Tax Return or
Other Tax Return, a claim for a Refund, or in connection with any Proceeding, including such waivers, consents or powers of attorney as may be necessary for TriMas or Horizon, as the case may be, to exercise its rights under this Agreement, and
(v) the use of TriMas’s or Horizon’s, as the case may be, reasonable efforts to obtain any documentation from a governmental authority or a Third Party that may be necessary or reasonably helpful in connection with any of the
foregoing. It is expressly the intention of the parties to this Agreement to take all actions that shall be necessary to establish TriMas as the sole agent for Income Tax or Other Tax purposes 

  
 24 

 
of each member of the Horizon Group with respect to all Combined Returns. Upon reasonable notice, each of TriMas and Horizon shall make its, or shall cause the other members of the TriMas Group
or the Horizon Group, as applicable, to make their, employees and facilities available on a mutually convenient basis to provide explanation of any documents or information provided hereunder. Any information obtained under this Section 9 shall
be kept confidential, except as otherwise reasonably may be necessary in connection with the filing of Income Tax Returns or Other Tax Returns or claims for Refund or in conducting any Proceeding. 

(b) Retention of Records. Each of TriMas and Horizon agrees to retain all Income Tax Returns and Other Tax Returns, related schedules
and workpapers, and all material records and other documents as required under Section 6001 of the Code and the regulations promulgated thereunder (and any similar provision of state, local or foreign law) existing on the date hereof or created
in respect of (i) any Pre-Distribution Taxable Period or (ii) any taxable period that may be subject to a claim hereunder, in each case, until the later of (A) the expiration of the statute of limitations (including extensions) for
the taxable periods to which such Income Tax Returns, Other Tax Returns and other documents relate and (B) the Final Determination of any payments that may be required in respect of such taxable periods under this Agreement. 

10. Resolution of Disputes. TriMas and Horizon shall attempt in good faith to resolve any disagreement arising with respect to
this Agreement, including any dispute in connection with a claim by a Third Party (a “Tax Dispute”). Any party to this Agreement may give any other Party hereto written notice of any Tax Dispute not resolved in the normal course of
business. If the Parties cannot agree by the tenth Business Day following the date on which one Party gives such notice, then the Parties shall promptly retain the services of a nationally recognized law or accounting firm reasonably acceptable to
the Parties (the “Tax Dispute Arbitrator”). The Tax Dispute Arbitrator shall be instructed to resolve the Tax Dispute, and such resolution shall be (a) set forth in writing and signed by the Tax Dispute Arbitrator, (b) delivered
to each Party involved in the Tax Dispute as soon as practicable after the Tax Dispute is submitted to the Tax Dispute Arbitrator, but no later than the fifteenth Business Day after the Tax Dispute Arbitrator is instructed to resolve the dispute,
(c) made in accordance with this Agreement, and (d) final, binding and conclusive on the Parties involved in the Tax Dispute on the date of delivery of such resolution. The Tax Dispute Arbitrator shall be authorized on any one issue to
decide in favor of and choose the position of either of the Parties involved in the Tax Dispute or to decide upon a compromise position within the range between the positions presented by the Parties to the Tax Dispute Arbitrator. The fees and
expenses of the Tax Dispute Arbitrator shall be borne 50% by TriMas and 50% by Horizon. 
 11. Payments.  

  
 25 

 (a) Method of Payment. All payments required by this Agreement shall be made by
(i) wire transfer to the appropriate bank account as may from time to time be designated by the respective Parties for such purpose; provided, however, that, on the date of such wire transfer, notice of the transfer is given to the
recipient thereof in accordance with Section 12, or (ii) any other method agreed to by the Parties. All payments due under this Agreement shall be deemed to be paid when available funds are actually received by the payee. 

(b) Interest. Any payment required by this Agreement that is not made on or before the date required hereunder shall bear interest,
from and after such date through the date of payment, at the Underpayment Rate. 
 (c) Characterization of Payments. For all tax
purposes, the parties hereto agree to treat, and to cause their respective Affiliates to treat any payment required by this Agreement as either a contribution by TriMas to Horizon or a distribution by Horizon to TriMas, as the case may be, occurring
immediately prior to the Spin-Off, except as otherwise mandated by applicable law or a Final Determination; provided, however, that in the event it is determined (i) pursuant to applicable law, or (ii) pursuant to a Final
Determination, that any such treatment is not permissible (or that an Indemnified Party nevertheless suffers an Income Tax or Other Tax detriment as a result of such payment), the payment in question shall be adjusted to place the Indemnified Party
in the same after-tax position it would have enjoyed absent such applicable law or Final Determination. 
 12. Notices.
Notices, requests, permissions, waivers, and other communications hereunder shall be in writing and shall be deemed to have been duly given upon (a) a transmitter’s confirmation of a receipt of a facsimile transmission (but only if
followed by confirmed delivery of a standard overnight courier the following Business Day or if delivered by hand the following Business Day), or (b) confirmed delivery of a standard overnight courier or delivered by hand, to the parties at the
following addresses (or at such other addresses for a party as shall be specified by like notice): 
 If to TriMas, to: 

        TriMas Corporation 

        39400 Woodward Ave., Suite 130 

        Bloomfield Hills, MI 48304 

        Attn: Joshua Sherbin 

        joshsherbin@trimascorp.com 

        248-631-5475 

If to Horizon, to: 

        Horizon Global Corporation 

        39400 Woodward Ave, Suite 100 

        Bloomfield Hills, MI 48304 

  
 26 

         Attn: Jay Goldbaum 

        jgoldbaum@horizonglobal.com 

        248-593-8838 

Such names and addresses may be changed by notice given in accordance with this Section 12. 

13. Designation of Affiliate. Each of TriMas and Horizon may assign any of its rights or obligations under this Agreement to any
member of the TriMas Group or the Horizon Group, respectively, as it shall designate; provided, however, that no such assignment shall relieve TriMas or Horizon, respectively, of any obligation hereunder, including any obligation to make a
payment hereunder to Horizon or TriMas, respectively, to the extent such designee fails to make such payment. 
 14. Miscellaneous.
To the extent not inconsistent with any specific term of this Agreement, the following sections of the Separation Agreement shall apply in relevant part to this Agreement: Section 9.7 (Entire Agreement), Section 9.9 (Governing
Law), Section 9.4 (Amendment and Modification), Section 9.5 (Waiver), Section 9.11 (Severability), Section 9.14 (Counterparts), Section 9.10 (Assignment), Section 9.8 (No Third-Party Beneficiaries), and Section 9.3
(Termination). 
 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on its behalf by its officers thereunto
duly authorized, all as of the day and year first written above. 
  

			
	TriMas Corporation
		
			By:
			Name:
			Title:
	
	Horizon Global Corporation
		
			By:
			Name:
			Title:

  
 27Exhibit 10.2

 Exhibit 10.2 

EMPLOYEE MATTERS AGREEMENT 

between 
 TRIMAS CORPORATION

 and 
 HORIZON GLOBAL
CORPORATION 
 Dated as of
                 , 2015 

							
	 ARTICLE I
		DEFINITIONS		 	1	  
			
	 Section 1.1
		Certain Defined Terms		 	1	  
			
	 Section 1.2
		Other Capitalized Terms		 	9	  
			
	 ARTICLE II
		GENERAL PRINCIPLES; EMPLOYEE TRANSFERS		 	10	  
			
	 Section 2.1
		TriMas Group Employee Liabilities		 	10	  
			
	 Section 2.2
		Horizon Group Employee Liabilities		 	10	  
			
	 Section 2.3
		TriMas Benefit Plans/Horizon Benefit Plans		 	10	  
			
	 Section 2.4
		Employee Transfers		 	11	  
			
	 Section 2.5
		Collective Bargaining Agreements		 	11	  
			
	 ARTICLE III
		NON-U.S. EMPLOYEE TRANSFERS and benefit plans		 	11	  
			
	 Section 3.1
		Canadian Retirement Plan		 	11	  
			
	 Section 3.2
		Canadian Welfare Benefits		 	13	  
			
	 ARTICLE IV
		SERVICE CREDIT		 	14	  
			
	 Section 4.1
		Service Credit for Employee Transfers		 	14	  
			
	 ARTICLE V
		Litigation and compensation		 	15	  
			
	 Section 5.1
		Employee-Related Litigation		 	15	  
			
	 Section 5.2
		Vacation		 	15	  
			
	 Section 5.3
		Annual Bonuses		 	15	  
			
	 Section 5.4
		Employment Agreements		 	17	  
			
	 ARTICLE VI
		CERTAIN WELFARE BENEFIT PLAN MATTERS		 	17	  
			
	 Section 6.1
		Shared Welfare Plans		 	17	  
			
	 Section 6.2
		Flexible Spending Account Treatment		 	18	  
			
	 Section 6.3
		Workers’ Compensation		 	19	  
			
	 Section 6.4
		COBRA		 	19	  
			
	 Section 6.5
		Severance Benefits		 	20	  
			
	 ARTICLE VII
		TAX-QUALIFIED DEFINED BENEFIT PLANS		 	20	  
			
	 Section 7.1
		Retained DB Plan		 	20	  
			
	 ARTICLE VIII
		U.S. TAX-QUALIFIED DEFINED CONTRIBUTION PLANS		 	21	  
			
	 Section 8.1
		Horizon Spinoff DC Plans		 	21	  
			
	 Section 8.2
		Continuation of Elections		 	22	  
			
	 Section 8.3
		Contributions Due		 	23	  
			
	 ARTICLE IX
		NONQUALIFIED RETIREMENT PLANS		 	23	  
			
	 Section 9.1
		Horizon Spinoff Nonqualified Plans		 	23	  

  
 -i- 

							
	 Section 9.2
		No Distributions on Separation		 	24	  
			
	 Section 9.3
		Section 409A		 	24	  
			
	 Section 9.4
		Delayed Transfer Employees		 	25	  
			
	 ARTICLE X
		TRIMAS COMPENSATION AWARDS		 	25	  
			
	 Section 10.1
		Outstanding TriMas Compensation Awards		 	25	  
			
	 Section 10.2
		Conformity with Non-U.S. Laws		 	34	  
			
	 Section 10.3
		Tax Withholding and Reporting		 	34	  
			
	 Section 10.4
		Employment Treatment		 	34	  
			
	 Section 10.5
		Registration		 	35	  
			
	 ARTICLE XI
		BENEFIT PLAN REIMBURSEMENTS, BENEFIT PLAN THIRD- PARTY CLAIMS		 	35	  
			
	 Section 11.1
		General Principles		 	35	  
			
	 Section 11.2
		Benefit Plan Third-Party Claims		 	35	  
			
	 ARTICLE XII
		INDEMNIFICATION		 	35	  
			
	 Section 12.1
		Indemnification		 	35	  
			
	 ARTICLE XIII
		COOPERATION		 	36	  
			
	 Section 13.1
		Cooperation		 	36	  
			
	 ARTICLE XIV
		MISCELLANEOUS		 	36	  
			
	 Section 14.1
		Vendor Contracts		 	36	  
			
	 Section 14.2
		Further Assurances		 	36	  
			
	 Section 14.3
		Employment Taxes Withholding Reporting Responsibility		 	37	  
			
	 Section 14.4
		Data Privacy		 	37	  
			
	 Section 14.5
		Third Party Beneficiaries		 	37	  
			
	 Section 14.6
		Effect if Distribution Does Not Occur		 	37	  
			
	 Section 14.7
		Incorporation of Separation Agreement Provisions		 	37	  
			
	 Section 14.8
		No Representation or Warranty		 	37	  
			
	 Schedule 3.2:
		TriMas Canadian Welfare Plans				
			
	 Schedule 5.4:
		Employment Agreements				
			
	 Schedule 6.1(a):
		Shared Welfare Plans				
			
	 Schedule 6.1(c):
		Individuals Eligible for Medicare Payments				
			
	 Schedule 8.1(a):
		Shared DC Plans				
			
	 Schedule 9.1(a):
		Split Nonqualified Plans				

  

  
 -ii- 

 EMPLOYEE MATTERS AGREEMENT 

EMPLOYEE MATTERS AGREEMENT, dated as of
                 , 2015 (this “Employee Matters Agreement”), between TriMas Corporation, a Delaware corporation
(“TriMas”), and Horizon Global Corporation, a Delaware corporation (“Horizon”). 
 RECITALS

 A. The parties to this Employee Matters Agreement have entered into the Separation and Distribution Agreement (the
“Separation Agreement”), dated as of the date hereof, pursuant to which TriMas intends to distribute to the Record Holders, on a pro rata basis, all the outstanding shares of common stock, with par value $[0.01], of
Horizon then owned by TriMas (the “Distribution”). 
 B. The parties wish to set forth their agreements as to certain
matters regarding the treatment of, and the compensation and employee benefits provided to, current and former employees of TriMas and Horizon and their Subsidiaries. 

AGREEMENT 
 In
consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby, the parties agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.1 Certain Defined Terms. For the purposes of this Employee Matters Agreement: 

“2013 Performance Stock Unit” means a TriMas Performance Stock Unit granted during the 2013 calendar year. 

“2014 Performance Stock Unit” means a TriMas Performance Stock Unit granted during the 2014 calendar year. 

“2015 Annual Incentive Bonus” has the meaning set forth in Section 5.3(a). 

“Adjusted 2013 TriMas Performance Stock Unit” means a performance stock unit award with respect to TriMas Common Stock
relating to TriMas Performance Stock Units described in Section 10.1(a)(iv)(A). 
 “Adjusted TriMas Compensation
Award” means each Adjusted TriMas Option, Adjusted 2013 TriMas Performance Stock Unit, Adjusted TriMas Restricted Share, TriMas 2013 Replacement RSU, TriMas 2014 Replacement RSU, Adjusted TriMas RSU, Adjusted TriMas Time-Based Foreign Unit
and TriMas Replacement Foreign Unit. 
 “Adjusted TriMas Option” means an option to acquire TriMas Common Stock relating to
a TriMas Option described in Section 10.1(a)(i). 

  
 -1- 

 “Adjusted TriMas Restricted Share” means a restricted share of TriMas Common
Stock relating to TriMas Restricted Shares described in Section 10.1(a)(ii)(A). 
 “Adjusted TriMas RSU” means
a restricted stock unit award with respect to TriMas Common Stock relating to TriMas RSUs described in Section 10.1(a)(iii)(A) that vests based solely on the passage of time. 

“Adjusted TriMas Time-Based Foreign Unit” means a cash incentive unit the value of which is based on the full value of
underlying shares of TriMas Common Stock relating to a TriMas Time-Based Foreign Unit described in Section 10.1(a)(v)(A) that vests solely based on the passage of time. 

“Annual Incentive Policy” has the meaning set forth in Section 5.3(a). 

“Applicable Canadian Welfare Continuation Period” has the meaning set forth in Section 3.2(a). 

“Applicable Canadian Welfare Split Date” has the meaning set forth in Section 3.2(a). 

“Applicable Transfer Date” means the date on which a Delayed Transfer Employee actually commences employment with the Horizon
Group or the TriMas Group (as applicable). 
 “Applicable Welfare Continuation Period” has the meaning set forth in
Section 6.1(a). 
 “Applicable Welfare Split Date” has the meaning set forth in Section 6.1(a).

 “Assumed Severance Benefits” has the meaning set forth in Section 6.5. 

“Benefit Plan” means, with respect to an entity, each plan, program, policy, agreement, arrangement or understanding that is
(i) maintained primarily for the benefit of employees in the United States, or (ii) a Non-U.S. Benefit Plan that is denoted with an asterisk on Schedule 6.1(a), and, in either case that is a deferred compensation, executive
compensation, incentive bonus or other bonus, pension, profit sharing, savings, retirement, severance pay, salary continuation, life, death benefit, health, prescription drug, dental, vision, healthcare flexible spending account, dependent care
flexible spending account, health savings account, sick leave, vacation pay, disability or accident insurance or other employee benefit plan, program, agreement or arrangement, including any “employee benefit plan” (as defined in
Section 3(3) of ERISA) sponsored, maintained or contributed to by such entity or to which such entity is a party or under which such entity has any obligation; provided that no TriMas Compensation Award, nor any plan under which any such TriMas
Compensation Award is granted, will constitute a “Benefit Plan” under this Employee Matters Agreement. In addition, no Employment Agreement will constitute a Benefit Plan for purposes hereof. 

“CRP Split Date” has the meaning set forth in Section 3.1(a)(ii). 

  
 -2- 

 “COBRA” means the continuation coverage requirements under Code
Section 4980B and ERISA Sections 601-608. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Collective Bargaining Agreement” means any collective bargaining agreement, labor agreement, or other written agreement to
which TriMas, Horizon, or any of their respective direct or indirect Subsidiaries is a party with any labor union, its predecessors-in-interest, and its constituent local unions. 

“DC Continuation Period” has the meaning set forth in Section 8.1(a). 

“DC Plan Split Date” has the meaning set forth in Section 8.1(b). 

“Delayed Transfer Employee” has the meaning set forth in Section 2.4. 

“Distribution” has the meaning set forth in the Recitals. 

“Employee Matters Agreement” has the meaning set forth in the preamble. 

“Employment Agreement” means any individual employment, retention, consulting, change in control, split dollar life
insurance, sale bonus, incentive bonus, severance or other individual compensatory agreement between any current or former employee and TriMas or any of its Affiliates. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

“Flex Plan Amount” has the meaning set forth in Section 6.2. 

“Former Horizon Employee” means any individual (i) who on or before the close of business on the Distribution Date
retired or otherwise separated from service from TriMas and its Affiliates, and (ii) whose last day worked with TriMas and its Affiliates prior to the close of business on the Distribution Date was with (A) the Horizon Business or
(B) any Person that will be a direct or indirect Subsidiary of Horizon immediately after the Distribution; provided, however, that an individual who separates from service from TriMas and its Affiliates on the Distribution Date in
connection with commencing employment with Horizon and its Affiliates will not be deemed to be a Former Horizon Employee for purposes of this Employee Matters Agreement. 

“Former TriMas Employee” means any individual who (i) on or before the close of business on the Distribution Date
retired or otherwise separated from service from TriMas and its Affiliates, and (ii) is not a Former Horizon Employee; provided, however, that an individual who separates from service from TriMas and its Affiliates on the
Distribution Date in connection with commencing employment with Horizon and its Affiliates will not be deemed to be a Former TriMas Employee for purposes of this Employee Matters Agreement. 

  
 -3- 

 “Group” means the TriMas Group or the Horizon Group, as the context requires.

 “Horizon” has the meaning set forth in the preamble. 

“Horizon 2013 Replacement RSUs” means restricted stock unit awards with respect to Horizon Common Stock relating to 2013
Performance Stock Units granted by Horizon as of the Distribution under a Horizon LTIP pursuant to Section 10.1(a)(iv)(B)(2). 

“Horizon 2014 Replacement RSUs” means restricted stock unit awards with respect to Horizon Common Stock relating to 2014
Performance Stock Units granted by Horizon as of the Distribution under a Horizon LTIP pursuant to Section 10.1(a)(iv)(C)(2). 

“Horizon Benefit Plan” means any Benefit Plan sponsored or maintained by any member of the Horizon Group other than the
Shared DC Plans, the Shared Welfare Plans, the TriMas CRP and the TriMas Canadian Welfare Plans. 
 “Horizon Canadian Welfare
Claims” has the meaning set forth in Section 3.2(b). 
 “Horizon Canadian Welfare Plan” has the
meaning set forth in Section 3.2(b). 
 “Horizon CRP” has the meaning set forth in
Section 3.1(a)(ii). 
 “Horizon Director” means a non-employee member of the Board of Directors of Horizon as
of the Distribution Date, who is no longer a member of the Board of Directors of TriMas as of the Distribution Date. 
 “Horizon
Employee” means each individual who, as of the day after the Distribution Date, is employed by a member of the Horizon Group (including, for the avoidance of doubt, any such individual who is on a leave of absence, whether paid or unpaid).
Horizon Employees also include Horizon Transferees, effective as of the Applicable Transfer Date. 
 “Horizon Employment
Agreement” has the meaning set forth in Section 5.4. 
 “Horizon Compensation Award” means each
Horizon Option, Horizon Restricted Share, Horizon RSU, Horizon 2013 Replacement RSU, Horizon 2014 Replacement RSU, Horizon Time-Based Foreign Unit and Horizon Replacement Foreign Unit. 

“Horizon Exercise Price” has the meaning set forth in Section 10.1(a)(i)(B). 

“Horizon Flexible Accounts” has the meaning set forth in Section 6.2. 

“Horizon LTIP” means the Horizon 2015 Equity and Incentive Compensation Plan and any stock-based or other incentive plan
identified by Horizon before the Distribution Date. 
 “Horizon Non-U.S. Benefit Plan” means any Non-U.S. Benefit Plan
sponsored or maintained by a member of the Horizon Group. 

  
 -4- 

 “Horizon Option” means an option to acquire shares of Horizon Common Stock
granted by Horizon as of the Distribution under a Horizon LTIP pursuant to Section 10.1(a)(i)(B). 
 “Horizon
Participant” means any Horizon Employee or Horizon Director who immediately prior to the Distribution holds TriMas Compensation Awards, or a beneficiary, dependent or alternate payee of such person. 

“Horizon Replacement Foreign Units” means a cash incentive unit granted to a Horizon Participant based on the value of earned
TriMas Performance-Based Foreign Units described in Section 10.1(a)(vi)(B). 
 “Horizon Restricted Share” means
a restricted share of Horizon Common Stock granted by Horizon as of the Distribution under a Horizon LTIP pursuant to Section 10.1(a)(ii)(B). 

“Horizon RSU” means restricted stock unit award with respect to Horizon Common Stock granted by Horizon as described in
Section 10.1(a)(iii)(B) that vests based solely on the passage of time. 
 “Horizon Share Price” means the
closing sale price of a share of Horizon Common Stock solely on the NYSE on the Distribution Date (as traded on the “when issued” market) as reported by Bloomberg L.P. or any successor thereto. 

“Horizon Spinoff DC Plans” has the meaning set forth in Section 8.1(b). 

“Horizon Spinoff Nonqualified Plans” has the meaning set forth in Section 9.1(a). 

“Horizon Spinoff Welfare Plan” has the meaning set forth in Section 6.1(b). 

“Horizon Time-Based Foreign Unit” means a cash incentive unit the value of which is based on the full value of underlying
shares of Horizon Common Stock on the applicable payment date granted by Horizon as described in Section 10.1(a)(v)(B) that vests solely based on the passage of time. 

“Horizon Transferees” means the Delayed Transfer Employees who transfer from the TriMas Group to the Horizon Group. 

“Horizon Welfare Claims” has the meaning set forth in Section 6.1(b). 

“Medicare Payments” has the meaning set forth in Section 6.1(c). 

“Nasdaq” means the NASDAQ Stock Market. 

“New Hires” has the meaning set forth in Section 6.1(a). 

“Non-U.S. Benefit Plan” means, with respect to an entity, each plan, program, policy, agreement, arrangement or understanding
that is maintained primarily for the 

  
 -5- 

 
benefit of employees outside of the United States and is a deferred compensation, executive compensation, incentive bonus or other bonus, pension, profit sharing, savings, retirement, severance
pay, life, death benefit, health, prescription drug, dental, vision, sick leave, vacation pay, disability or accident insurance, employee assistance program or other employee benefit plan, program, agreement or arrangement, sponsored, maintained or
contributed to by such entity or to which such entity is a party or under which such entity has any obligation; provided that no TriMas Compensation Award, nor any plan under which any such TriMas Compensation Award is granted, will constitute a
“Non-U.S. Benefit Plan” under this Employee Matters Agreement. In addition, no Employment Agreement will constitute a Non-U.S. Benefit Plan for purposes hereof. 

“Nonqualified Plan Split Date” has the meaning set forth in Section 9.1(a). 

“NYSE” means the New York Stock Exchange. 

“Option Exercise Price” means the pre-adjustment exercise price of the applicable TriMas Option. 

“Partial Year Awardee” has the meaning set forth in Section 5.3(a). 

“Plan Payee” means, as to an individual who participates in a Benefit Plan, such individual’s dependents, beneficiaries,
alternate payees and alternate recipients, as applicable, under such Benefit Plan. 
 “Post-Distribution TriMas Share
Price” means the closing sale price of a share of TriMas Common Stock solely on the Nasdaq on the Distribution Date (as traded on the “ex-distribution” market) as reported by Bloomberg L.P. or any successor thereto. 

“Pre-Distribution Action” means an Action by any Third Party with respect to a Shared Plan, TriMas Employee, Former TriMas
Employee, Horizon Employee, or Former Horizon Employee that arises from an act, omission, or event that occurred prior to the Distribution and is not otherwise designated as Horizon Litigation in the Separation Agreement. 

“Pre-Distribution TriMas Share Price” means the closing sale price of a share of TriMas Common Stock solely on the Nasdaq on
the Distribution Date (as traded on the “regular way” market) as reported by Bloomberg L.P. or any successor thereto. 

“Retained DB Plan” has the meaning set forth in Section 7.1(a). 

“Separation Agreement” has the meaning set forth in the Recitals. 

“Shared DC Plans” has the meaning set forth in Section 8.1(a). 

  
 -6- 

 “Shared Plans” means the Shared Welfare Plans, Shared DC Plans, Split
Nonqualified Plans, and Split Non-U.S. Plans. 
 “Shared Welfare Plans” has the meaning set forth in Section
6.1(a). 
 “Split Nonqualified Plans” has the meaning set forth in Section 9.1(a). 

“Split Non-U.S. Plan” means a Non-U.S. Benefit Plan sponsored, maintained or contributed to by the TriMas Group that
transferred liabilities to a Non-U.S. Benefit Plan sponsored, maintained or contributed to by the Horizon Group in connection with the Distribution. 

“Trading Day” means the period of time during any given calendar day, beginning at 9:30 a.m. (New York time) (or such other
time as the Nasdaq or NYSE, as applicable, publicly announces is the official open of trading), and ending at 4:01 p.m. (New York time) (or one minute after such other time as the Nasdaq or NYSE, as applicable, publicly announces is the official
close of trading), in which trading and settlement in TriMas Common Stock or Horizon Common Stock is permitted on the Nasdaq or NYSE, as applicable. 

“TriMas” has the meaning set forth in the preamble. 

“TriMas 2013 Replacement RSUs” means a restricted stock unit award with respect to TriMas Common Stock relating to 2013
Performance Stock Units described in Section 10.1(a)(iv)(B)(1). 
 “TriMas 2014 Replacement RSUs” means a
restricted stock unit award with respect to TriMas Common Stock relating to the 2014 Performance Stock Units described in Section 10.1(a)(iv)(C)(1). 

“TriMas Benefit Plans” means (i) the Shared Welfare Plans, the Shared DC Plans, and (ii) any Benefit Plan that, as
of the close of business on the day before the Distribution Date, is sponsored or maintained solely by any member of the TriMas Group. 

“TriMas Canadian Welfare Plans” has the meaning set forth in Section 3.2(a). 

“TriMas Compensation Committee” means the Compensation Committee of the Board of Directors of TriMas. 

“TriMas Covered Employee” means a TriMas Employee who, as of the date immediately prior to the Distribution Date, is
anticipated to be a “covered employee” of TriMas within the meaning of Section 162(m) of the Code with respect to the 2015 taxable year. 

“TriMas CRP” has the meaning set forth in Section 3.1(a)(i). 

  
 -7- 

 “TriMas Director” means a current or former non-employee member of the Board of
Directors of TriMas, excluding any Horizon Director. 
 “TriMas Employee” means each individual who, as of the close of
business on the day after the Distribution Date, is employed by a member of the TriMas Group (including, for the avoidance of doubt, any such individual who is on a leave of absence, whether paid or unpaid). TriMas Employees also include TriMas
Transferees, effective as of the Applicable Transfer Date. 
 “TriMas Compensation Award” means each TriMas Option, TriMas
Performance Stock Unit, TriMas Restricted Share, TriMas RSU, TriMas Time-Based Foreign Unit or TriMas Performance-Based Foreign Unit. 

“TriMas Exercise Price” has the meaning set forth in Section 10.1(a)(i)(A). 

“TriMas Flexible Accounts” has the meaning set forth in Section 6.2. 

“TriMas Foreign Incentive Plan” means the TriMas Corporation Annual Incentive Plan for Foreign Subsidiaries, or any
predecessor plan. 
 “TriMas LTIP” means any of the TriMas Corporation 2011 Omnibus Incentive Compensation Plan, the TriMas
Corporation 2006 Long Term Equity Incentive Plan, or the TriMas Corporation 2002 Long Term Equity Incentive Plan. 
 “TriMas
Non-Covered Employee” has the meaning set forth in Section 10.1(a)(iv)(B). 
 “TriMas Non-U.S. Benefit
Plans” means the Non-U.S. Benefit Plans sponsored or maintained by a member of the TriMas Group. 
 “TriMas
Option” means an option to acquire shares of TriMas Common Stock granted by TriMas under a TriMas LTIP before the Distribution Date. 

“TriMas Participant” means any TriMas Employee, Former TriMas Employee, Former Horizon Employee or TriMas Director who
immediately prior to the Distribution holds TriMas Compensation Awards, or a beneficiary, dependent or alternate payee of such person. 

“TriMas Performance-Based Foreign Unit” means a performance-based Full Value Cash Incentive (as defined in the TriMas Foreign
Incentive Plan) granted by TriMas under the TriMas Foreign Incentive Plan before the Distribution Date. 
 “TriMas Performance Stock
Units” means a performance stock unit award granted by TriMas under a TriMas LTIP before the Distribution Date. 
 “TriMas
Replacement Foreign Units” means a cash incentive unit granted to a TriMas Participant based on the value of earned TriMas Performance-Based Foreign Units described in Section 10.1(a)(vi)(A). 

  
 -8- 

 “TriMas Restricted Share” means a restricted share of TriMas Common Stock
granted by TriMas under a TriMas LTIP before the Distribution Date. 
 “TriMas RSU” means a time-based restricted stock
unit award granted by TriMas under a TriMas LTIP before the Distribution Date. 
 “TriMas Time-Based Foreign Unit” means a
time-based Full Value Cash Incentive (as defined in the TriMas Foreign Incentive Plan) granted by TriMas under the TriMas Foreign Incentive Plan before the Distribution Date. 

“TriMas Transferees” means the Delayed Transfer Employees who transfer from the Horizon Group to the TriMas Group. 

“TriMas Welfare Plan” means each TriMas Benefit Plan that is a Welfare Plan. 

“Vendor Contract” has the meaning set forth in Section 14.1. 

“Welfare Plan” means each Benefit Plan that provides life insurance, health care, dental care, vision care, employee
assistance programs (EAP), accidental death and dismemberment insurance, disability, severance, vacation, dependent care reimbursements, or other group welfare or fringe benefits or is otherwise an “employee welfare benefit plan” as
described in Section 3(1) of ERISA. 
 “Workers’ Compensation Event” means the event, injury, illness or
condition giving rise to a workers’ compensation claim. 
 Section 1.2 Other Capitalized Terms. Capitalized terms not
defined in this Employee Matters Agreement, including the following, will have the meanings ascribed to them in the Separation Agreement: 
  

	 	•	 	Action 

  

	 	•	 	Affiliate 

  

	 	•	 	Ancillary Agreements 

  

	 	•	 	Distribution Date 

  

	 	•	 	Governmental Authority 

  

	 	•	 	Horizon Business 

  

	 	•	 	Horizon Common Stock 

  

	 	•	 	Horizon Entities 

  

	 	•	 	Horizon Group 

  

	 	•	 	Horizon Liabilities 

  

	 	•	 	Horizon Litigation 

  

	 	•	 	Law 

  

	 	•	 	Liability 

  

	 	•	 	Person 

  

	 	•	 	Record Date 

  

	 	•	 	Record Holders 

  
 -9- 

	 	•	 	Shared Liability 

  

	 	•	 	Subsidiary 

  

	 	•	 	Tax 

  

	 	•	 	Third Party 

  

	 	•	 	Third-Party Claim 

  

	 	•	 	Transition Services Agreement 

  

	 	•	 	TriMas Common Stock 

  

	 	•	 	TriMas Entities 

  

	 	•	 	TriMas Group 

  

	 	•	 	TriMas Liabilities 

 ARTICLE II 

GENERAL PRINCIPLES; EMPLOYEE TRANSFERS 

Section 2.1 TriMas Group Employee Liabilities. Except as specifically provided in this Employee Matters Agreement, the TriMas
Group will be solely responsible for (i) all employment, compensation and employee benefits Liabilities relating to TriMas Employees and Former TriMas Employees, (ii) all Liabilities arising under each TriMas Benefit Plan and TriMas
Non-U.S. Benefit Plan, and (iii) any other Liabilities expressly assigned or allocated to a TriMas Group member under this Employee Matters Agreement. 

Section 2.2 Horizon Group Employee Liabilities. Except as specifically provided in this Employee Matters Agreement, the Horizon
Group will be solely responsible for (i) all employment, compensation and employee benefits Liabilities relating to Horizon Employees and Former Horizon Employees, (ii) all Liabilities arising under each Horizon Benefit Plan and Horizon
Non-U.S. Benefit Plan, and (iii) any other Liabilities expressly assigned or allocated to a Horizon Group member under this Employee Matters Agreement. 

Section 2.3 TriMas Benefit Plans/Horizon Benefit Plans. 

(a) Except as otherwise provided herein, the TriMas Group will be exclusively responsible for administering each TriMas Benefit Plan and
TriMas Non-U.S. Benefit Plan in accordance with its terms and for all obligations and liabilities (including any required filings or notices) with respect to the TriMas Benefit Plans and TriMas Non-U.S. Benefit Plans and all benefits owed to
participants in the TriMas Benefit Plans and TriMas Non-U.S. Benefit Plans, whether arising before, on or after the Distribution Date, Applicable Welfare Split Date, DC Plan Split Date, Nonqualified Plan Split Date, or Nonqualified Plan Assumption
Date, as applicable. 
 (b) Except as otherwise provided herein or in the Transition Services Agreement, the Horizon Group will be
exclusively responsible for administering each Horizon Benefit Plan and Horizon Non-U.S. Benefit Plan in accordance with its terms and for all obligations and liabilities (including any required filings or notices) with respect to the Horizon
Benefit Plans and Horizon Non-U.S. Benefit Plans and all 

  
 -10- 

 
benefits owed to participants in the Horizon Benefit Plans and Horizon Non-U.S. Benefit Plans, whether arising before, on or after the Distribution Date, Applicable Welfare Split Date, DC Plan
Split Date, Nonqualified Plan Split Date, or Nonqualified Plan Assumption Date, as applicable. 
 Section 2.4 Employee
Transfers. Upon mutual agreement of Horizon and TriMas, any employee whose employment transfers within 12 months after the Distribution Date from the TriMas Group to the Horizon Group or from the Horizon Group to the TriMas Group and who was
continuously employed by a member of the Horizon Group or the TriMas Group (as applicable) from the Distribution Date through the date such employee commences employment with a member of the TriMas Group or Horizon Group (as applicable) will be a
“Delayed Transfer Employee”; provided, however, that no employee of either Group who is covered by a Collective Bargaining Agreement at the time such employee transfers to the other Group will be a Delayed Transfer
Employee. Notwithstanding anything herein to the contrary, no employee will be considered a Delayed Transfer Employee unless the mutual agreement with respect to, and Applicable Transfer Date of, any Delayed Transfer Employee occurs on or before the
date that is 12 months after the Distribution Date. 
 Section 2.5 Collective Bargaining Agreements. 

(a) Effective as of the Distribution Date, TriMas or a TriMas Group member will retain or assume each Collective Bargaining Agreement then in
effect covering TriMas Employees and Horizon or a Horizon Group member will retain or assume each Collective Bargaining Agreement then in effect covering Horizon Employees. 

(b) The parties agree that certain subjects of this Employee Matters Agreement have been, and may in the future be, the subject of effects
bargaining with a labor union, and that certain provisions will be deemed modified to the extent necessary to conform with any agreements reached by the parties with a labor union as a result of such effects bargaining. 

(c) The terms of this Employee Matters Agreement will be adjusted or conformed, as and where necessary, so as to not breach or otherwise
contravene any Collective Bargaining Agreement found to be applicable. 
 ARTICLE III 

NON-U.S. EMPLOYEE TRANSFERS AND BENEFIT PLANS 

Section 3.1 Canadian Retirement Plan. 

(a) General. 

(i) On or before the Distribution Date, (i) TriMas will take all actions necessary to amend the TriMas Canadian Retirement
Plan (registration number 0307066) (the “TriMas CRP”) such that the TriMas CRP will, effective as of the Distribution Date, allow Horizon Employees, Former Horizon Employees, 

  
 -11- 

 
TriMas Employees, Former TriMas Employees, and New Hires to participate following the Distribution until the CRP Split Date (the “CRP Continuation Period”), subject to the other
eligibility requirements set forth in the TriMas CRP, and (ii) Horizon will take all actions necessary to adopt the TriMas CRP as a participating employer thereunder. All amounts payable to the TriMas CRP with respect to employer contributions
for Horizon Employees and New Hires relating to a time period ending after the Distribution Date, determined in accordance with the terms and provisions of the TriMas CRP, will be paid by Horizon or another member of the Horizon Group to the TriMas
CRP as required under the TriMas CRP. TriMas or a member of the TriMas Group will retain sole responsibility for taking all necessary, reasonable, and appropriate actions to maintain and administer the TriMas CRP so that it remains in compliance
with applicable local Law. The rights and obligations of TriMas and Horizon related to the fees and costs of providing coverage to the Horizon Employees and New Hires during the CRP Continuation Period will be governed by the Transition Services
Agreement. 
 (ii) Following the Distribution Date, but no later than December 31, 2016, Horizon or another member of
the Horizon Group will adopt and establish a defined contribution plan (the “Horizon CRP”) that will have terms and features (including employer contribution provisions) that are substantially similar to the defined contribution
component of the TriMas CRP such that (for the avoidance of doubt) the defined contribution component of the TriMas CRP is substantially replicated by the Horizon CRP. Horizon or a member of the Horizon Group will be solely responsible for taking
all necessary, reasonable, and appropriate actions to establish, maintain and administer the Horizon CRP so that it is in compliance with applicable local Law. As of the effective date of the Horizon CRP (the “CRP Split Date”),
which, for the avoidance of doubt, will be no later than December 31, 2016, the Horizon CRP will cover the Horizon Employees and New Hires and will assume liability for all benefits accrued or earned by Horizon Employees and New Hires under the
TriMas CRP. The TriMas CRP will retain liability for all benefits accrued or earned by Former Horizon Employees under the TriMas CRP as of the CRP Split Date. 

(iii) On or as soon as reasonably practicable following regulatory approval of the transfer of accounts, liabilities and
related assets to the Horizon CRP, TriMas or another member of the TriMas Group will cause the TriMas CRP to transfer to the Horizon CRP, and Horizon or another member of the Horizon Group will cause the Horizon CRP to accept the transfer of, the
accounts, liabilities and related assets in the TriMas CRP attributable to Horizon Employees, New Hires and their Plan Payees. The transfer of assets will be in cash or in kind (as determined by the transferor) and be conducted in accordance with
applicable local Law. Notwithstanding the above, should an employee’s employment transfer and the employee be considered a Delayed Transfer Employee after the CRP Split Date, as contemplated in Section 2.4, such employee will be
dealt with as would any other terminating employee including being provided statutory portability rights and the relevant accounts, liabilities and related assets transferred accordingly. 

  
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 (iv) From and after the CRP Split Date, except as specifically provided in
subparagraph (iii) above, Horizon and the Horizon Group will be solely and exclusively responsible for all obligations and liabilities with respect to, or in any way related to, the Horizon CRP, whether accrued before, on or after the CRP Split
Date. 
 (b) Continuation of Elections. As of the CRP Split Date, as permitted or required by applicable local Law, Horizon (acting
directly or through a member of the Horizon Group) will cause the Horizon CRP to continue to recognize and maintain the rights of alternate payees under domestic relations orders, with respect to Horizon Employees and their Plan Payees under the
TriMas CRP until such elections are modified pursuant to the Horizon CRP. 
 (c) Contributions Due. All amounts payable to the TriMas
CRP with respect to employer contributions for Horizon Employees relating to a time period ending on or prior to the Distribution Date, determined in accordance with the terms and provisions of the TriMas CRP, will be paid by TriMas or another
member of the TriMas Group to the TriMas CRP. 
 Section 3.2 Canadian Welfare Benefits. 

(a) On or before the Distribution Date, TriMas and Horizon will take all actions necessary with respect to the Non-U.S. Benefit Plans listed
on Schedule 3.2 (such Non-U.S. Benefit Plans, the “TriMas Canadian Welfare Plans”) such that, effective as of the Distribution Date, Horizon Employees, Former Horizon Employees, New Hires and their respective Plan Payees may
participate in the TriMas Canadian Welfare Plans following the Distribution until, with respect to each such TriMas Canadian Welfare Plan, the last day that coverage will be provided under such TriMas Canadian Welfare Plan pursuant to the Transition
Services Agreement (the “Applicable Canadian Welfare Split Date,” and such period between the Distribution and the Applicable Canadian Welfare Split Date, the “Applicable Canadian Welfare Continuation Period”),
subject to the other eligibility requirements set forth in the TriMas Canadian Welfare Plans. The rights and obligations of TriMas and Horizon related to the fees and costs of providing coverage to the Horizon Employees, Former Horizon Employees,
New Hires, and their Plan Payees during the Applicable Canadian Welfare Continuation Period will be governed by the Transition Services Agreement. TriMas or a member of the TriMas Group will retain sole responsibility for taking all necessary,
reasonable, and appropriate actions to maintain and administer the TriMas Canadian Welfare Plans. 
 (b) With respect to each TriMas
Canadian Welfare Plan, following the Distribution Date, but no later than the Applicable Canadian Welfare Split Date, Horizon or a member of the Horizon Group will establish a corresponding welfare benefit plan (each such plan, a “Horizon
Canadian Welfare Plan”), which will have such terms and features as will be determined by Horizon. From and after the Applicable Canadian Welfare Split Date, or, if later, the Applicable Transfer Date, Horizon will cause such Horizon
Canadian Welfare Plan to cover those Horizon Employees, Former Horizon Employees and their Plan Payees who immediately prior to the Applicable Canadian 

  
 -13- 

 
Welfare Split Date or Applicable Transfer Date were participating in, or entitled to present or future benefits under, the corresponding TriMas Canadian Welfare Plan, except as otherwise provided
in the Transition Services Agreement. The TriMas Canadian Welfare Plans will be responsible for all claims incurred by Horizon Employees, Former Horizon Employees, New Hires and their Plan Payees under the Canadian Welfare Plans prior to the
Applicable Canadian Welfare Split Date, subject to the Transition Services Agreement. The Horizon Group and the Horizon Canadian Welfare Plans will be solely responsible for all claims incurred by Horizon Employees, Former Horizon Employees, New
Hires and their Plan Payees under the Horizon Canadian Welfare Plans (except as otherwise provided in the Transition Services Agreement) (“Horizon Canadian Welfare Claims”), on and after the Applicable Canadian Welfare Split Date
or, if later, the Applicable Transfer Date, but only to the extent such claims are not otherwise payable under an insurance policy held by the TriMas Group. To the extent any Horizon Canadian Welfare Claims are payable under an insurance policy held
by the TriMas Group, TriMas will take all commercially reasonable actions necessary to process such claim and obtain payment under the applicable insurance policy. Effective as of the Applicable Canadian Welfare Split Date or, if later, the
Applicable Transfer Date, TriMas will cause Horizon Employees, Former Horizon Employees, New Hires and their Plan Payees to cease to be covered by the TriMas Canadian Welfare Plans, except as otherwise provided in the Transition Services Agreement.
The TriMas Group and the TriMas Canadian Welfare Plans will remain solely responsible for all claims incurred by TriMas Employees and Former TriMas Employees and their Plan Payees, whether incurred before, on, or after the Applicable Canadian
Welfare Split Date. 
 (c) For purposes of this Section 3.2, a claim will be deemed “incurred” on the date that the
event that gives rise to the claim occurs (for purposes of life insurance, severance, sickness, accident and disability programs) or on the date that treatment or services are provided (for purposes of health care programs). 

ARTICLE IV 
 SERVICE
CREDIT 
 Section 4.1 Service Credit for Employee Transfers. Subject to the terms of any applicable Collective Bargaining
Agreement, each Benefit Plan will provide the following service crediting rules effective as of the Distribution Date or, if later, the date on which such Benefit Plan first becomes effective: 

(a) From and after (i) the Applicable Welfare Split Date, in the case of each Horizon Spinoff Welfare Plan, (ii) the DC Plan Split
Date, in the case of the Horizon Spinoff DC Plans, (iii) the Nonqualified Plan Split Date, in the case of the Split Nonqualified Plans, (iv) the CRP Split Date, in the case of the TriMas CRP, (v) the Applicable Canadian Welfare Split
Date, in the case of the Horizon Canadian Welfare Plans, and (vi) the Distribution Date, in the case of all other Horizon Benefit Plans, Horizon will, and will cause its Affiliates and successors to, provide credit under the Horizon Benefit
Plans to each Horizon Employee for service with the TriMas Group prior to the Distribution Date for purposes of eligibility, vesting, and benefit service under the 

  
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appropriate Horizon Benefit Plans in which the Horizon Employee is otherwise eligible, subject to the terms of those plans; provided, however, that service will not be recognized to
the extent that such recognition would result in the duplication of benefits taking into account both TriMas Benefit Plans and Horizon Benefit Plans. 

(b) A Delayed Transfer Employee’s service with the Horizon Group or the TriMas Group (as applicable) following the Distribution will be
recognized for purposes of eligibility, vesting and benefit service under the appropriate TriMas Benefit Plans or Horizon Benefit Plans in which they are otherwise eligible, subject to the terms of those plans; provided, however, that
service will not be recognized to the extent that such recognition would result in the duplication of benefits taking into account both TriMas Benefit Plans and Horizon Benefit Plans. 

(c) Except as provided in Section 4.1(b), with respect to an employee hired by the Horizon Group or the TriMas Group after the
Distribution Date, the Benefit Plans of the Horizon Group for employees hired by the Horizon Group or TriMas Group for employees hired by the TriMas Group will not recognize such employee’s service with the TriMas Group for employees hired by
the Horizon Group or Horizon Group for employees hired by the TriMas Group unless required by Law or an applicable collective bargaining agreement. 

ARTICLE V 
 LITIGATION
AND COMPENSATION 
 Section 5.1 Employee-Related Litigation. Notwithstanding any provision of this Employee Matters
Agreement to the contrary, the apportionment of Liabilities with respect to any Pre-Distribution Action, and the classification of any such Liabilities as TriMas Liabilities, Horizon Liabilities, or Shared Liabilities, will be determined in
accordance with the Separation Agreement. A Pre-Distribution Action will be subject to Section 6.6 of the Separation Agreement. 

Section 5.2 Vacation. Subject to the terms of any applicable Collective Bargaining Agreement and except to the extent not
permitted by applicable law, the TriMas Group will assume or retain, as applicable, responsibility for accrued vacation attributable to TriMas Employees as of the Distribution Date or the Applicable Transfer Date. Subject to the terms of any
applicable Collective Bargaining Agreement and except to the extent not permitted by applicable law, the Horizon Group will assume or retain, as applicable, responsibility for accrued vacation attributable to Horizon Employees as of the Distribution
Date or the Applicable Transfer Date. 
 Section 5.3 Annual Bonuses. 

(a) Eligible employees of the Horizon Group who on the close of business on the day immediately prior to the Distribution Date (or, with
respect to a Horizon Transferee, the Applicable Transfer Date) were not working in the Horizon Business (“Partial Year Awardees”) will continue to participate in the TriMas Corporation Short Term Incentive Plan pursuant to the terms
of the TriMas Corporation Annual 

  
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Incentive Compensation Administrative Policy (the “Annual Incentive Policy”) until the Distribution Date or, for Horizon Transferees, the Applicable Transfer Date. The
determination of whether any portion of such an eligible employee’s award under the Annual Incentive Policy with respect to the 2015 fiscal year (the “2015 Annual Incentive Bonus”) has been earned will be made based upon the
achievement of the applicable management objectives measured as of the Distribution Date. Such determination will be made by the Horizon Compensation Committee in accordance with the Annual Incentive Policy. Horizon will be responsible for
establishing a bonus program for such employees for the period from the Distribution Date to December 31, 2015, which bonus program will be structured so that it is substantially similar to the Annual Incentive Policy and provides a bonus
opportunity for such period that preserves to the extent practicable the bonus opportunity that each Partial Year Awardee would have had if he or she would have remained an employee of the TriMas Group for the entire 2015 calendar year;
provided, however, that the applicable management objectives with respect to such bonus program will be based solely on measures related to the Horizon Group. 

(b) Any eligible employee of the Horizon Group who is not a Partial Year Awardee, will, through December 31, 2015, continue to
participate in the Annual Incentive Policy applicable to such employees immediately prior to the Distribution Date. The determination of whether any portion of such employee’s 2015 Annual Incentive Bonus has been earned will be made based upon
the achievement of the applicable management objectives as of December 31, 2015. Such determination will be made by the Horizon Compensation Committee with respect to employees of the Horizon Group. 

(c) Eligible employees of the TriMas Group will continue to participate in the Annual Incentive Policy through December 31, 2015. The
determination of whether any portion of such an eligible employee’s 2015 Annual Incentive Bonus has been earned will be made based upon the achievement of the applicable management objectives measured as of December 31, 2015. Such
determination will be made by the TriMas Compensation Committee in accordance with the Annual Incentive Policy. 
 (d) TriMas will remain
responsible for and will pay any awards earned under the Annual Incentive Policy to all TriMas Employees and Former TriMas Employees, and Horizon will be responsible for and will pay any awards earned under the Annual Incentive Policy by Horizon
Employees and Former Horizon Employees; provided, however, that, notwithstanding any provision of this Employee Matters Agreement or the Annual Incentive Policy to the contrary, Horizon may choose to pay the 2015 Annual Incentive
Bonuses for Horizon Employees and Former Horizon Employees entirely in cash. The TriMas Group will be responsible for establishing and paying any annual bonus for its employees for performance periods after the Distribution Date or, for TriMas
Transferees, the Applicable Transfer Date, and the Horizon Group will be responsible for establishing and paying any annual bonus for its employees for performance periods after the Distribution Date or December 31, 2015, as applicable;
provided, however, that, for the avoidance of doubt, such annual bonuses need not have the same terms and conditions as the bonuses granted under the Annual Incentive Policy. 

  
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 Section 5.4 Employment Agreements. Effective as of the Distribution, Horizon or a
member of the Horizon Group will assume and be solely responsible for any Employment Agreement to which a Horizon Employee or a Former Horizon Employee is a party (a “Horizon Employment Agreement”), and the TriMas Group will have no
liabilities with respect thereto. Notwithstanding any provision to the contrary, (i) the Horizon Employment Agreements will be the responsibility of one or more members of the Horizon Group following the Distribution Date, and (ii) TriMas
will retain and be solely and exclusively responsible for all obligations and liabilities with respect to, or in any way related to, any Employment Agreement that is not a Horizon Employment Agreement. 

ARTICLE VI 
 CERTAIN
WELFARE BENEFIT PLAN MATTERS 
 Section 6.1 Shared Welfare Plans. 

(a) On or before the Distribution Date, TriMas and Horizon will take all actions necessary with respect to the Benefit Plans listed on
Schedule 6.1(a) (such Benefit Plans, the “Shared Welfare Plans”) such that, effective as of the Distribution Date, Horizon Employees, Former Horizon Employees, individuals who become employed by the Horizon Group following
the Distribution (the “New Hires”) and their respective Plan Payees may participate in the Shared Welfare Plans following the Distribution until, with respect to each such Shared Welfare Plan, the last day that coverage will be
provided under such Shared Welfare Plan pursuant to the Transition Services Agreement (the “Applicable Welfare Split Date,” and such period between the Distribution Date and the Applicable Welfare Split Date, the “Applicable
Welfare Continuation Period”), subject to the other eligibility requirements set forth in the Shared Welfare Plans. The rights and obligations of TriMas and Horizon related to the fees and costs of providing coverage to the Horizon
Employees, Former Horizon Employees, New Hires, and their Plan Payees during the Applicable Welfare Continuation Period will be governed by the Transition Services Agreement. After the Distribution Date or Applicable Transfer Date, Horizon will be
responsible for any employer contributions due with respect to Horizon Employees and New Hires with respect to a health savings account, subject to the Transition Services Agreement. TriMas or a member of the TriMas Group will retain sole
responsibility for taking all necessary, reasonable, and appropriate actions to maintain and administer the Shared Welfare Plans. 
 (b)
With respect to each Shared Welfare Plan, following the Distribution Date, but no later than the Applicable Welfare Split Date, Horizon or a member of the Horizon Group will establish a corresponding welfare benefit plan (each such plan, a
“Horizon Spinoff Welfare Plan”), which will have such terms and features as will be determined by Horizon. From and after the Applicable Welfare Split Date, or, if later, the Applicable Transfer Date, Horizon will cause such Horizon
Spinoff Welfare Plan to cover those Horizon Employees, Former Horizon Employees, New Hires and their Plan Payees who immediately prior to the Applicable Welfare Split Date or Applicable Transfer Date were participating in, or entitled to present or
future benefits under, the corresponding Shared Welfare Plan, except as otherwise provided in the 

  
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Transition Services Agreement. The Shared Welfare Plans will be responsible for all claims incurred by Horizon Employees, Former Horizon Employees, New Hires and their Plan Payees under the
Shared Welfare Plans prior the Applicable Welfare Split Date, subject to the Transition Services Agreement. The Horizon Group and the Horizon Spinoff Welfare Plans will be solely responsible for all claims incurred by Horizon Employees, Former
Horizon Employees, New Hires and their Plan Payees under the Horizon Spinoff Welfare Plans (except as otherwise provided in the Transition Services Agreement) (“Horizon Welfare Claims”), on and after the Applicable Welfare Split
Date or, if later, the Applicable Transfer Date, but only to the extent such claims are not otherwise payable under an insurance policy held by the TriMas Group. To the extent any Horizon Welfare Claims are payable under an insurance policy held by
the TriMas Group, TriMas will take all commercially reasonable actions necessary to process such claim and obtain payment under the applicable insurance policy. Effective as of the Applicable Welfare Split Date for Shared Welfare Plans and as of the
Distribution Date for any TriMas Welfare Plan that is not a Shared Welfare Plan or in each case, if later, the Applicable Transfer Date, TriMas will cause Horizon Employees, Former Horizon Employees, New Hires and their Plan Payees to cease to be
covered by the TriMas Welfare Plans (including the Shared Welfare Plans), except as otherwise provided in the Transition Services Agreement. The TriMas Group and the TriMas Welfare Plans will remain solely responsible for all claims incurred by
TriMas Employees and Former TriMas Employees and their Plan Payees, whether incurred before, on, or after the Applicable Welfare Split Date. 

(c) Horizon will continue to make monthly Medicare Part B reimbursement payments to each payee identified on Schedule 6.1(c) in
accordance with the employer obligations to provide such reimbursements under the collective bargaining agreement covering such payees (the “Medicare Payments”), and neither TriMas nor the TriMas Group will have any liability with
respect to the Medicare Payments. 
 (d) For purposes of this Section 6.1, a claim will be deemed “incurred” on the
date that the event that gives rise to the claim occurs (for purposes of life insurance, severance, sickness, accident and disability programs) or on the date that treatment or services are provided (for purposes of health care programs). 

Section 6.2 Flexible Spending Account Treatment. With respect to the portion of a Shared Welfare Plan that consists of health care
and dependent care flexible spending accounts (the “TriMas Flexible Accounts”), as of the Applicable Welfare Split Date (which, with respect to the TriMas Flexible Accounts, will be January 1, 2016) or, if later, the Applicable
Transfer Date, Horizon will be solely responsible for all liabilities with respect to Horizon Employees, Former Horizon Employees and New Hires, and the applicable Horizon Spinoff Welfare Plan (the “Horizon Flexible Accounts”) will
give effect to the elections of Horizon Employees and Former Horizon Employees that were in effect under the corresponding Shared Welfare Plan as of the Applicable Welfare Split Date or Applicable Transfer Date. As soon as practicable following the
Applicable Welfare Split Date or, if later, the Applicable Transfer Date, TriMas will transfer to Horizon in cash an amount equal to the total amount that Horizon Employees and 

  
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Former Horizon Employees have contributed to the TriMas Flexible Account Plan through the Applicable Welfare Split Date or Applicable Transfer Date for the calendar year that includes the
Applicable Welfare Split Date or Applicable Transfer Date less all amounts that have been paid from TriMas Flexible Account Plan through the Applicable Welfare Split Date or Applicable Transfer Date for health care and dependent care claims incurred
by the Horizon Employees and Former Horizon Employees in the calendar year that includes the Applicable Welfare Split Date or Applicable Transfer Date (such difference, the “Flex Plan Amount”). If the Flex Plan Amount is less than
$0, as soon as practicable after the Applicable Welfare Split Date or, if later, the Applicable Transfer Date, Horizon will transfer to TriMas in cash an amount equal to all amounts that have been paid from the TriMas Flexible Accounts through the
Applicable Welfare Split or Applicable Transfer Date, as applicable, for health care expense and dependent care claims incurred by the Horizon Employees and Former Horizon Employees in the calendar year that includes the Applicable Welfare Split
Date or Applicable Transfer Date less the total amount that Horizon Employees and Former TriMas Horizon Business Employees have contributed to TriMas Flexible Accounts through the Applicable Welfare Split Date or Applicable Transfer Date for the
calendar year that includes the Applicable Welfare Split Date or Applicable Transfer Date, in accordance with the terms of the Transition Services Agreement. TriMas and Horizon may agree to satisfy the adjustment for the Flex Plan Amount being
greater than or less than $0, as applicable, through a credit or debit under the Transition Services Agreement instead of satisfying such adjustment through the cash transfer described in the foregoing provisions of this Section 6.2. After the
Applicable Welfare Split Date or, if later, the Applicable Transfer Date, the Horizon Flexible Accounts will be responsible for reimbursement of all previously unreimbursable health care expense and dependent care claims incurred by Horizon
Employees and Former Horizon Employees, regardless of when the claims were incurred. 
 Section 6.3 Workers’ Compensation.
The TriMas Group will be solely responsible for all United States (including its territories) workers’ compensation claims of TriMas Employees and Former TriMas Employees, regardless of when the Workers’ Compensation Events to which such
claims relate occur. Effective as of the Distribution Date, the Horizon Group will be solely responsible for all United States (including its territories) workers’ compensation claims of Horizon Employees and Former Horizon Employees with
respect to Workers’ Compensation Events, regardless of when such Workers Compensation Events to which such claims relate occur. 

Section 6.4 COBRA. TriMas or a member of the TriMas Group will be responsible for compliance with COBRA during the Applicable
Welfare Continuation Period for all Horizon Employees, Former Horizon Employees, New Hires, and their qualified “beneficiaries” for whom a “qualifying event” occurs prior to the Distribution Date or during the Applicable Welfare
Continuation Period, subject to the Transition Services Agreement. Effective as of the Applicable Welfare Split Date or, if later, the Applicable Transfer Date, Horizon or a member of the Horizon Group will assume or will cause the Horizon Spinoff
Welfare Plans to assume sole responsibility for compliance with COBRA after the Applicable Welfare Split Date or Applicable Transfer Date for all Horizon Employees, Former Horizon Employees, New Hires and their “qualified

  
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beneficiaries” for whom a “qualifying event” occurs before, on or after the Applicable Welfare Split Date or the Applicable Transfer Date. TriMas, the TriMas Group, or a Shared
Welfare Plan will remain solely responsible for compliance with COBRA before, on and after the Distribution Date or the Applicable Transfer Date for TriMas Employees, Former TriMas Employees and their “qualified beneficiaries.” The terms
“qualified beneficiaries” and “qualifying event” will have the meanings given to them under Code Section 4980B and ERISA Sections 601-608. For the avoidance of doubt, Section 6.1 will govern whether the Horizon
Spinoff Welfare Plans or Shared Welfare Plans are responsible for claims incurred by Horizon Employees, Former Horizon Employees, or their qualified beneficiaries, while receiving continuation coverage under COBRA. Other responsibilities of TriMas
and Horizon related to COBRA coverage during the Applicable Welfare Continuation Period will be governed by the Transition Services Agreement. 

Section 6.5 Severance Benefits. With respect to any severance benefits owed to any Horizon Employee or Former Horizon Employee as
a result of a termination of employment occurring on or prior to the Distribution Date (the “Assumed Severance Benefits”), on and after the Distribution Date the Horizon Group and, as applicable, the Horizon Benefit Plans, will be
solely responsible for all such Assumed Severance Benefits, and neither TriMas nor the TriMas Group will have any liability with respect thereto. 

ARTICLE VII 

TAX-QUALIFIED DEFINED BENEFIT PLANS 

Section 7.1 Retained DB Plan. 

(a) As of the Distribution Date, TriMas will, or will cause one or more members of the TriMas Group to, assume or retain the TriMas Union
Employees Pension Plan (the “Retained DB Plan”), and TriMas agrees to, or to cause the Retained DB Plan to, fulfill and discharge, in due course in full all Liabilities under, the Retained DB Plan. On or as soon as reasonably
practicable following the Distribution Date, Horizon or a Member of the Horizon Group will [                    ]. 

(b) From and after the Distribution Date, TriMas and the members of the TriMas Group will be solely and exclusively responsible for all
obligations and liabilities with respect to, or in any way related to, the Retained DB Plan, whether accrued before, on or after the Distribution Date, and neither Horizon nor any member of the Horizon Group will have any Liability with respect
thereto. 

  
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 ARTICLE VIII 

U.S. TAX-QUALIFIED DEFINED CONTRIBUTION PLANS 

Section 8.1 Horizon Spinoff DC Plans. 

(a) On or before the Distribution Date, (i) TriMas will take all actions necessary to amend the Benefit Plans listed on Schedule
8.1(a) (such Benefit Plans, the “Shared DC Plans”) such that the Shared DC Plans will, effective as of the Distribution Date, constitute “section 413(c) plans” (within the meaning of Treasury Regulation
Section 1.413-2(a)(2)) and allow Horizon Employees, Former Horizon Employees, TriMas Employees, Former TriMas Employees, and New Hires to participate following the Distribution until the applicable DC Plan Split Date (the “DC
Continuation Period”), subject to the other eligibility requirements set forth in the Shared DC Plans, (ii) TriMas will take all actions necessary to amend the Shared DC Plans to provide that a participating employer may make a
discretionary matching contribution to the Shared DC Plans, and (iii) Horizon will take all actions necessary to adopt the Shared DC Plans as a participating employer thereunder. All amounts payable to the Shared DC Plans with respect to
employee deferrals, matching contributions and employer contributions for Horizon Employees and New Hires relating to a time period ending after the Distribution Date, determined in accordance with the terms and provisions of the Shared DC Plans,
ERISA and the Code, will be paid by Horizon or another member of the Horizon Group to the appropriate Shared DC Plan prior to the DC Plan Split Date. TriMas or a member of the TriMas Group will retain sole responsibility for taking all necessary,
reasonable, and appropriate actions (including the submission of the Shared DC Plans to the Internal Revenue Service for a determination of tax-qualified status) to maintain and administer the Shared DC Plans so that they are qualified under
Section 401(a) of the Code and that the related trusts thereunder are exempt under Section 501(a) of the Code. The rights and obligations of TriMas and Horizon related to the fees and costs of providing coverage to the Horizon Employees
and New Hires during the DC Continuation Period will be governed by the Transition Services Agreement. 
 (b) Following the Distribution
Date, but no later than December 31, 2016, Horizon or another member of the Horizon Group will adopt and establish certain defined contribution plans that are intended to qualify under Code Section 401(a), and a related master trust or
trusts exempt under Code Section 501(a) (such plans and trusts, the “Horizon Spinoff DC Plans”). Each Horizon Spinoff DC Plan will have terms and features (including employer contribution provisions) that are substantially
similar to one of the Shared DC Plans such that (for the avoidance of doubt) each Shared DC Plan is substantially replicated by a corresponding Horizon Spinoff DC Plan. Horizon or a member of the Horizon Group will be solely responsible for taking
all necessary, reasonable, and appropriate actions (including the submission of the Horizon Spinoff DC Plans to the Internal Revenue Service for a determination of tax-qualified status) to establish, maintain and administer the Horizon Spinoff DC
Plans so that they are qualified under Section 401(a) of the Code and that the related trusts thereunder are exempt under Section 501(a) of the Code. As of the effective date of such Horizon Spinoff DC Plan (the “DC Plan Split
Date”), which, for the avoidance of doubt, will be no 

  
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later than December 31, 2016, each Horizon Spinoff DC Plan will cover the Horizon Employees and New Hires and will assume liability for all benefits accrued or earned (whether or not vested)
by Horizon Employees and New Hires under the corresponding Shared DC Plan. The Shared DC Plans will retain liability for all benefits accrued or earned (whether or not vested) by Former Horizon Employees under the Shared DC Plans as of the DC Plan
Split Date. 
 (c) On or as soon as reasonably practicable following the DC Plan Split Date or, if later, the Applicable Transfer Date,
TriMas or another member of the TriMas Group will cause each Shared DC Plan to transfer to the applicable Horizon Spinoff DC Plan, and Horizon or another member of the Horizon Group will cause such Horizon Spinoff DC Plan to accept the transfer of,
the accounts, liabilities and related assets in such Shared DC Plan attributable to Horizon Employees, New Hires and their Plan Payees. The transfer of assets will be in cash or in kind (as determined by the transferor) and be conducted in
accordance with Code Section 414(l) and Treasury Regulation Section 1.414(l)-1 and Section 208 of ERISA. 
 (d) On or as soon
as reasonably practicable following the Applicable Transfer Date, Horizon or a member of the Horizon Group will cause the accounts, related liabilities, and related assets in the corresponding Horizon Spinoff DC Plan(s) attributable to any TriMas
Transferees and their respective Plan Payees (including any outstanding loan balances), if any, to be transferred in cash or in-kind (as determined by the transferor) in accordance with Code Section 414(l) and Treasury Regulation
Section 1.414(l)-1 and Section 208 of ERISA to the applicable Shared DC Plan(s). TriMas or another member of the TriMas Group will cause the applicable Shared DC Plan(s) to accept such transfer of accounts, liabilities and assets. 

(e) From and after the DC Plan Split Date, except as specifically provided in paragraph (c) above, Horizon and the Horizon Group will be
solely and exclusively responsible for all obligations and liabilities with respect to, or in any way related to, the Horizon Spinoff DC Plans, whether accrued before, on or after the DC Plan Split Date. For the avoidance of doubt, the Shared DC
Plans will, to the extent required by Law and the terms of the applicable Shared DC Plans, have the sole and exclusive obligation to restore the unvested portion of any account attributable to any lost participants or individual who becomes employed
by TriMas or any of its Affiliates and whose employment with TriMas or any of its Affiliates, or a member of the TriMas Group, terminated before the Distribution Date at a time when such individual’s benefits under the Shared DC Plans were not
fully vested. 
 Section 8.2 Continuation of Elections. As of the DC Plan Split Date, or, if later, the Applicable Transfer
Date, Horizon (acting directly or through a member of the Horizon Group) will cause the Horizon Spinoff DC Plans to recognize and maintain all elections, including investment and payment form elections, beneficiary designations, and the rights of
alternate payees under qualified domestic relations orders with respect to Horizon Employees and their Plan Payees under the corresponding Shared DC Plan. 

  
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 Section 8.3 Contributions Due. All amounts payable to the Shared DC Plans with
respect to employee deferrals, matching contributions and employer contributions for Horizon Employees relating to a time period ending on or prior to the Distribution Date, determined in accordance with the terms and provisions of the Shared DC
Plans, ERISA and the Code, will be paid by TriMas or another member of the TriMas Group to the appropriate Shared DC Plan prior to the date of any asset transfer described in Section 8.1(c). 

ARTICLE IX 
 NONQUALIFIED
RETIREMENT PLANS 
 Section 9.1 Horizon Spinoff Nonqualified Plans. 

(a) Effective no later than the Distribution Date, Horizon or another member of the Horizon Group will establish certain nonqualified
retirement plans and, to the extent the corresponding Split Nonqualified Plan is funded by a rabbi trust or trusts, a related rabbi trust or trusts to hold plan assets (such plans and trusts, the “Horizon Spinoff Nonqualified
Plans”). Each Horizon Spinoff Nonqualified Plan will have terms and features (including employer contribution provisions) that are substantially similar to one of the TriMas Benefit Plans listed on Schedule 9.1(a) (such plans, the
“Split Nonqualified Plans”) such that (for the avoidance of doubt), each Split Nonqualified Plan is substantially replicated by a corresponding Horizon Spinoff Nonqualified Plan. Horizon or a member of the Horizon Group will be
solely responsible for taking all necessary, reasonable, and appropriate actions to establish, maintain and administer the Horizon Spinoff Nonqualified Plans so that they do not result in adverse Tax consequences under Code Section 409A. Each
Horizon Spinoff Nonqualified Plan will assume liability for all benefits accrued or earned (whether or not vested) by Horizon Employees and Former Horizon Employees and their respective Plan Payees under the corresponding Split Nonqualified Plan as
of the date on which such individuals commence participation in such Horizon Spinoff Nonqualified Plan (the “Nonqualified Plan Split Date”). From and after the Nonqualified Plan Split Date, Horizon and the Horizon Group will be
solely and exclusively responsible for all obligations and liabilities with respect to, or in any way related to, the Horizon Spinoff Nonqualified Plans, whether accrued before, on or after the Nonqualified Plan Split Date. Furthermore, Horizon and
the Horizon Group will have the sole obligation to restore in the Horizon Spinoff Nonqualified Plans benefits under the Split Nonqualified Plans attributable to any lost participants who were formerly employed in the Horizon Business. 

(b) On or as soon as reasonably practicable following the Nonqualified Plan Split Date or, if applicable, the Applicable Transfer Date, TriMas
or another member of the TriMas Group will cause each Split Nonqualified Plan to transfer to the applicable Horizon Spinoff Nonqualified Plan, and Horizon or another member of the Horizon Group will cause such Horizon Spinoff Nonqualified Plan to
accept the transfer of, the accounts, liabilities and, to the extent assets have been set aside in a rabbi trust for the applicable Split Nonqualified Plan, related assets in such Split Nonqualified Plan attributable to Horizon Employees, New Hires
and their Plan Payees. The transfer of assets will be in cash or in kind (as determined by the transferor) and be conducted in accordance with applicable law. 

  
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 (c) On or as soon as reasonably practicable following the Applicable Transfer Date, Horizon or a
member of the Horizon Group will cause each Horizon Spinoff Nonqualified Plan to transfer to the applicable Split Nonqualified Plan, and TriMas or another member of the TriMas Group will cause such Split Nonqualified Plan to accept the transfer of,
the accounts, related liabilities, and, to the extent assets have been set aside in a rabbi trust for the applicable Horizon Spinoff Nonqualified Plan, related assets in such Horizon Spinoff Nonqualified Plan attributable to any TriMas Transferees
and their respective Plan Payees. The transfer of assets, if any, will be in cash or in-kind (as determined by the transferor) and be conducted in accordance with applicable law. 

(d) As of the Nonqualified Plan Split Date, or the Applicable Transfer Date, and as permitted by Code Section 409A, Horizon (acting
directly or through a member of the Horizon Group) will cause each Horizon Spinoff Nonqualified Plan to recognize and maintain all elections, including deferral, investment and payment form elections, beneficiary designations, and the rights of
alternate payees under qualified domestic relations orders with respect to Horizon Employees and their Plan Payees under the corresponding Split Nonqualified Plan. 

(e) TriMas and the TriMas Group will be solely and exclusively responsible for all obligations and liabilities with respect to, or in any way
related to, the nonqualified retirement plans sponsored or maintained by a member of the TriMas Group (including, but not limited to, the Split Nonqualified Plans) to the extent such obligations and liabilities are not specifically assumed by a
Horizon Group member or the Horizon Spinoff Nonqualified Plans pursuant to Section 9.1(a). 
 Section 9.2 No
Distributions on Separation. TriMas and Horizon acknowledge that neither the Distribution nor any of the other transactions contemplated by this Employee Matters Agreement, the Separation Agreement or the other Ancillary Agreements will trigger
a payment or distribution of compensation under any Benefit Plan that is a nonqualified retirement plan for any TriMas Employee, Horizon Employee, Former TriMas Employee or Former Horizon Employee and, consequently, that the payment or distribution
of any compensation to which any TriMas Employee, Horizon Employee, Former TriMas Employee or Former Horizon Employee is entitled under any such Benefit Plan will occur upon such individual’s separation from service from the TriMas Group or the
Horizon Group, as applicable, or at such other time as specified in the applicable Benefit Plan. 
 Section 9.3
Section 409A. TriMas and Horizon will cooperate in good faith so that the Distribution will not result in adverse Tax consequences under Code Section 409A to any current or former employee of any member of the TriMas Group or any
member of the Horizon Group, or their respective Plan Payees, in respect of his or her benefits under any TriMas Benefit Plan or Horizon Benefit Plan. 

  
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 Section 9.4 Delayed Transfer Employees. Any Horizon Transferee will be treated in the
same manner as a Horizon Employee under this Article IX, except that such Horizon Transferee may experience a separation from service (within the meaning of Code Section 409A) on his or her Applicable Transfer Date. Such a Horizon
Transferee’s Applicable Transfer Date will be treated as the Nonqualified Plan Assumption Date and/or Nonqualified Plan Split Date, as applicable. In addition, the TriMas Group will assume and be solely responsible, pursuant to the terms of the
applicable Split Nonqualified Plan, for any benefits accrued by any TriMas Transferee under any Horizon Spinoff Nonqualified Plan, and the Horizon Group will have no liability with respect thereto. 

ARTICLE X 
 TRIMAS
COMPENSATION AWARDS 
 Section 10.1 Outstanding TriMas Compensation Awards. 

(a) Each TriMas Compensation Award that is outstanding as of the Distribution will be adjusted as described below, so that each TriMas
Compensation Award held by a TriMas Participant will be adjusted to be an Adjusted TriMas Compensation Award, and each TriMas Compensation Award held by a Horizon Participant will be adjusted to be a Horizon Compensation Award, in each case, unless
otherwise provided in this Section 10.1(a); provided, however, that, effective immediately prior to the Distribution, the TriMas Compensation Committee may provide for different adjustments with respect to some or all of a
holder’s TriMas Compensation Awards. For greater certainty, any adjustments made by the TriMas Compensation Committee will be deemed incorporated by reference herein as if fully set forth below and will be binding on the parties hereto and
their respective Subsidiaries. 
 (i) Each TriMas Option generally will be adjusted in the manner described below, effective
as of the Distribution Date and immediately prior to the Distribution, so that immediately following the Distribution each TriMas Option holder who is a TriMas Participant will hold Adjusted TriMas Options, and each TriMas Option holder who is a
Horizon Participant will hold Horizon Options, in each case, in lieu of the TriMas Options previously held. The following procedure will generally be applied to each TriMas Option with the same grant date and exercise price held by each TriMas
Option holder as of the Distribution Date: 
 (A) Each Adjusted TriMas Option will have an exercise price equal to the
product (rounded up to the nearest cent) of (1) the applicable Option Exercise Price multiplied by (2) a fraction, (a) the numerator of which is the Post-Distribution TriMas Share Price and (b) the denominator of which is the
Pre-Distribution TriMas Share Price (such product, the “TriMas Exercise Price”). The number of shares of TriMas Common Stock subject to the Adjusted TriMas Options will be equal to the product (which will be rounded down to the
nearest whole share) of (1) the number of shares 

  
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subject to the TriMas Option held by such TriMas Participant immediately prior to the Distribution Date and (2) a fraction, the numerator which is the Pre-Distribution TriMas Share Price and
the denominator of which is the Post-Distribution TriMas Share Price. Such Adjusted TriMas Options will be subject to the same vesting requirements and dates and other terms and conditions as the TriMas Options to which they relate. 

(B) Each Horizon Option will have an exercise price equal to the product (rounded up to the nearest cent) of (1) the
applicable Option Exercise Price multiplied by (2) a fraction, (a) the numerator of which is the Horizon Share Price and (b) the denominator of which is the Pre-Distribution TriMas Share Price (such product, the “Horizon
Exercise Price”). The number of shares of Horizon Common Stock subject to the Horizon Options will be equal the product (which will be rounded down to the nearest whole share) of (1) the number of shares subject to the TriMas Option
held by such Horizon Participant immediately prior to the Distribution Date and (2) a fraction, the numerator of which is the Pre-Distribution TriMas Share Price, and the denominator of which is the Horizon Share Price. 

(ii) With respect to TriMas Restricted Shares: 

(A) TriMas Restricted Shares held by each TriMas Participant will be adjusted, effective as of the Distribution Date and
immediately prior to the Distribution, pursuant to the adjustments provisions of the TriMas LTIP, and will be subject to substantially the same terms, vesting conditions and other restrictions, if any, that were applicable to such TriMas Restricted
Shares immediately prior to the Distribution Date. The number of such Adjusted TriMas Restricted Shares for each such TriMas Participant will be equal to the product (which will be rounded down to the nearest whole share) of (1) the number of
TriMas Restricted Shares outstanding immediately prior to the Distribution Date and (2) a fraction, (a) the numerator of which is the Pre-Distribution TriMas Share Price and (b) the denominator of which is the Post-Distribution TriMas
Share Price. The holder of the Adjusted TriMas Restricted Shares described in this Section 10.1(a)(ii)(A) will not be entitled to receive or retain any shares of Horizon Common Stock to which such holder may have been entitled with
respect to the TriMas Restricted Shares as a stockholder at the Record Date. 
 (B) TriMas Restricted Shares held by each
Horizon Participant will, effective as of the Distribution Date and immediately prior to the Distribution, be adjusted by converting them into an award of Horizon Restricted Shares. Pursuant to the 

  
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adjustments provisions of the TriMas LTIP, the award of Horizon Restricted Shares will be subject to substantially the same terms, vesting conditions and other restrictions, if any, that were
applicable to such adjusted TriMas Restricted Shares immediately prior to the Distribution Date. The number of such Horizon Restricted Shares for each such Horizon Participant will be equal to the product (which will be rounded down to the nearest
whole share) of (1) the number of TriMas Restricted Shares held by such Horizon Participant immediately prior to the Distribution Date and (2) a fraction, the numerator of which is the Pre-Distribution TriMas Share Price and the
denominator of which is the Horizon Share Price. The holder of the Horizon Restricted Shares described in this Section 10.1(a)(ii)(B) will not be entitled to receive or retain any shares of Horizon Common Stock to which such holder may
have been entitled with respect to the TriMas Restricted Shares as a stockholder at the Record Date. 
 (iii) With respect to
TriMas RSUs: 
 (A) TriMas RSUs held by each TriMas Participant will be adjusted, effective as of the Distribution Date and
immediately prior to the Distribution, pursuant to the adjustments provisions of the TriMas LTIP, and will be subject to substantially the same terms, vesting conditions and other restrictions, if any, that were applicable to such TriMas RSUs
immediately prior to the Distribution Date. The number of such Adjusted TriMas RSUs for each such TriMas Participant will be equal to the product (which will be rounded down to the nearest whole share) of (1) the number of TriMas RSUs
outstanding immediately prior to the Distribution Date and (2) a fraction, (a) the numerator of which is the Pre-Distribution TriMas Share Price and (b) the denominator of which is the Post-Distribution TriMas Share Price. 

(B) TriMas RSUs held by each Horizon Participant will, effective as of the Distribution Date and immediately prior to the
Distribution, be adjusted by converting them into an award of Horizon RSUs. Pursuant to the adjustments provisions of the TriMas LTIP, the award of Horizon RSUs will be subject to substantially the same terms, vesting conditions and other
restrictions, if any, that were applicable to such adjusted TriMas RSUs immediately prior to the Distribution Date. The number of such Horizon RSUs for each such Horizon Participant will be equal to the product (which will be rounded down to the
nearest whole share) of (1) the number of TriMas RSUs held by such Horizon Participant immediately prior to the Distribution Date and (2) a fraction, the numerator of which is the Pre-Distribution TriMas Share Price and the denominator of
which is the Horizon Share Price. 

  
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 (iv) With respect to TriMas Performance Stock Units: 

(A) The determination of whether any portion of a 2013 Performance Stock Unit award held by a TriMas Participant who is a
TriMas Covered Employee has been earned will be made based upon the achievement of the applicable management objectives for the entire performance period during the first quarter of the 2016 calendar year, in accordance with the terms of the
original 2013 Performance Stock Unit awards. Such determination will be made by the TriMas Compensation Committee in accordance with the applicable TriMas LTIP. Notwithstanding the foregoing, the target number of shares of TriMas Common Stock
subject to a 2013 Performance Stock Unit award held by each TriMas Covered Employee will be adjusted, effective as of the Distribution Date and immediately prior to the Distribution, pursuant to the adjustments provisions of the TriMas LTIP, and
will be subject to substantially the same terms, vesting conditions and other restrictions, if any, that were applicable to such 2013 Performance Stock Units immediately prior to the Distribution Date. The target number of Adjusted 2013 TriMas
Performance Stock Units for each such TriMas Covered Employee will be equal to the product (which will be rounded down to the nearest whole share) of (1) the target number of 2013 Performance Stock Units for such TriMas Covered Employee
immediately prior to the Distribution and (2) a fraction, (a) the numerator of which is the Pre-Distribution TriMas Share Price and (b) the denominator of which is the Post-Distribution TriMas Share Price. 

(B) The determination of whether any portion of a 2013 Performance Stock Unit award held by a TriMas Participant who is not a
TriMas Covered Employee (a “TriMas Non-Covered Employee”) or by a Horizon Participant has been earned will be made based upon the achievement of the applicable management objectives measured as of the Distribution Date. Such
determination will be made by the TriMas Compensation Committee in accordance with the applicable TriMas LTIP. Any portion of the 2013 Performance Stock Unit awards that is not earned as of the Distribution Date will be cancelled and forfeited. Such
earned portion of the 2013 Performance Stock Unit awards will be adjusted as follows: 
 (1) The earned portion of any 2013 Performance
Stock Unit award held by each TriMas Non-Covered Employee will be converted, effective as of the 

  
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Distribution Date and immediately prior to the Distribution, pursuant to the adjustments provisions of the TriMas LTIP, into a restricted stock units award covering TriMas Common Stock and
subject to substantially the same terms as the 2013 Performance Stock Units, except that such restricted stock units awards will vest in full on March 1, 2016 (subject to continued employment or service with TriMas through such date) and will
not be subject to any additional performance objectives. The number of such TriMas 2013 Replacement RSUs for each such TriMas Non-Covered Employee will be equal to the product (which will be rounded down to the nearest whole share) of (1) the
number of earned 2013 Performance Stock Units, as determined by the TriMas Compensation Committee, and (2) a fraction, (a) the numerator of which is the Pre-Distribution TriMas Share Price and (b) the denominator of which is the
Post-Distribution TriMas Share Price. 
 (2) The earned portion of any 2013 Performance Stock Unit award held by each Horizon Participant
will, effective as of the Distribution Date and immediately prior to the Distribution, pursuant to the adjustments provisions of the TriMas LTIP, be adjusted by converting them into a restricted stock units award covering Horizon Common Stock and
subject to substantially the same terms as the 2013 Performance Stock Units, except that such restricted stock units awards will vest in full on March 1, 2016 (subject to continued employment or service with Horizon through such date) and will
not be subject to any additional performance objectives. The number of such Horizon 2013 Replacement RSUs for each such Horizon Participant will be equal to the product (which will be rounded down to the nearest whole share) of (1) the number
of earned 2013 Performance Stock Units, as determined by the TriMas Compensation Committee, and (2) a fraction, the numerator of which is the Pre-Distribution TriMas Share Price and the denominator of which is the Horizon Share Price. 

(3) Notwithstanding any provision of the applicable award agreement or TriMas LTIP, TriMas will pay each such award held by a TriMas
Participant in the form of TriMas Common Stock, and Horizon will pay 

  
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each such award held by a Horizon Participant in the form of Horizon Common Stock, in each case, between March 1, 2016 and March 15, 2016. 

(C) The determination of whether any portion of a 2014 Performance Stock Unit award has been earned will be made based upon
the achievement of the applicable management objectives measured as of the Distribution Date, and prorated based on the percentage of the applicable performance period completed as of the Distribution Date. Such determination will be made by the
TriMas Compensation Committee in accordance with the applicable TriMas LTIP. Any portion of the 2014 Performance Stock Unit awards that is not earned as of the Distribution Date will be cancelled and forfeited. Such earned portion of the 2014
Performance Stock Unit awards will be adjusted as follows: 
 (1) The earned portion of any 2014 Performance Stock Unit award held by each
TriMas Participant will be converted, effective as of the Distribution Date and immediately prior to the Distribution, pursuant to the adjustments provisions of the TriMas LTIP, into a restricted stock units award covering TriMas Common Stock and
subject to substantially the same terms as the 2014 Performance Stock Units, except that such restricted stock units awards will vest in full on March 5, 2017 (subject to continued employment or service with TriMas through such date) and will
not be subject to any additional performance objectives. The number of such TriMas 2014 Replacement RSUs for each such TriMas Participant will be equal to the product (which will be rounded down to the nearest whole share) of (1) the number of
earned 2014 Performance Stock Units, as determined by the TriMas Compensation Committee and (2) a fraction, (a) the numerator of which is the Pre-Distribution TriMas Share Price and (b) the denominator of which is the
Post-Distribution TriMas Share Price. 
 (2) The earned portion of any 2014 Performance Stock Unit award held by each Horizon Participant
will, effective as of the Distribution Date and immediately prior to the Distribution, pursuant to the adjustments provisions of the TriMas LTIP, be adjusted by converting them into a restricted stock units award covering Horizon Common Stock and
subject to substantially the same terms as the 2014 Performance Stock Units, except that such restricted 

  
 -30- 

 
stock units awards will vest in full on March 5, 2017 (subject to continued employment or service with Horizon through such date) and will not be subject to any additional performance
objectives. The number of such Horizon 2014 Replacement RSUs for each such Horizon Participant will be equal to the product (which will be rounded down to the nearest whole share) of (1) the number of earned 2014 Performance Stock Units, as
determined by the TriMas Compensation Committee, and (2) a fraction, the numerator of which is the Pre-Distribution TriMas Share Price and the denominator of which is the Horizon Share Price. 

(3) Notwithstanding any provision of the applicable award agreement, TriMas will pay each such award held by a TriMas Participant in the form
of TriMas Common Stock, and Horizon will pay each such award held by a Horizon Participant in the form of Horizon Common Stock, between March 5, 2017 and March 15, 2017. 

(v) With respect to TriMas Time-Based Foreign Units: 

(A) TriMas Time-Based Foreign Units held by each TriMas Participant will be adjusted, effective as of the Distribution Date
and immediately prior to the Distribution, pursuant to the adjustments provisions of the TriMas Foreign Incentive Plan, and will be subject to substantially the same terms, vesting conditions and other restrictions, if any, that were applicable to
such TriMas Time-Based Foreign Units immediately prior to the Distribution Date. The number of such Adjusted TriMas Time-Based Foreign Units for each such TriMas Participant will be equal to the product (which will be rounded down to the nearest
whole number) of (1) the number of TriMas Time-Based Foreign Units outstanding immediately prior to the Distribution Date and (2) a fraction, (a) the numerator of which is the Pre-Distribution TriMas Share Price and (b) the
denominator of which is the Post-Distribution TriMas Share Price. 
 (B) TriMas Time-Based Foreign Units held by each
Horizon Participant will, effective as of the Distribution Date and immediately prior to the Distribution, be adjusted by converting them into an award of Horizon Time-Based Foreign Units. Pursuant to the adjustments provisions of the TriMas Foreign
Incentive Plan, the award of Horizon Time-Based Foreign Units will be subject to substantially the same terms, vesting conditions and 

  
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other restrictions, if any, that were applicable to such adjusted TriMas Time-Based Foreign Units immediately prior to the Distribution Date. The number of such Horizon Time-Based Foreign Units
for each such Horizon Participant will be equal to the product (which will be rounded down to the nearest whole number) of (1) the number of TriMas Time-Based Foreign Units held by such Horizon Participant immediately prior to the Distribution
Date and (2) a fraction, the numerator of which is the Pre-Distribution TriMas Share Price and the denominator of which is the Horizon Share Price. 

(vi) With respect to TriMas Performance-Based Foreign Units: 

(A) The determination of whether any portion of a TriMas Performance-Based Foreign Unit held by a TriMas Participant has been
earned will be made based upon the achievement of the applicable management objectives measured as of the Distribution Date. Such determination will be made by the TriMas Compensation Committee in accordance with the applicable TriMas Foreign
Incentive Plan. Any portion of the TriMas Performance-Based Foreign Unit awards that is not earned as of the Distribution Date will be cancelled and forfeited. Such earned portion of the TriMas Performance-Based Foreign Unit awards will be adjusted
so that it will be converted, effective as of the Distribution Date and immediately prior to the Distribution, pursuant to the adjustments provisions of the TriMas Foreign Incentive Plan, into a cash incentive award representing a specified amount
of cash and not related to the price of underlying stock, but otherwise subject to substantially the same terms as the corresponding TriMas Performance-Based Foreign Units, except that such cash awards will be settled on the settlement date
applicable to the corresponding TriMas Performance-Based Foreign Unit Award (subject to continued employment or service with TriMas through such date) and will not be subject to any additional performance objectives. The amount of cash subject to
such TriMas Replacement Foreign Units for each such TriMas Participant will be equal to the product of (1) the number of earned TriMas Performance-Based Foreign Units, as determined by the TriMas Compensation Committee, and (2) the
Pre-Distribution TriMas Share Price. 
 (B) The determination of whether any portion of a TriMas Performance-Based Foreign
Unit held by a Horizon Participant has been earned will be made based upon the achievement of the applicable management objectives measured as of the Distribution Date. Such determination will be made by the TriMas Compensation Committee in
accordance with the applicable TriMas 

  
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Foreign Incentive Plan. Any portion of the TriMas Performance-Based Foreign Unit awards that is not earned as of the Distribution Date will be cancelled and forfeited. Such earned portion of the
TriMas Performance-Based Foreign Unit awards will be adjusted so that it will be converted, effective as of the Distribution Date and immediately prior to the Distribution, pursuant to the adjustments provisions of the TriMas Foreign Incentive Plan,
into a cash incentive award representing a specified amount of cash and not related to the price of underlying stock, but otherwise subject to substantially the same terms as the corresponding TriMas Performance-Based Foreign Units, except that such
cash awards will be settled on the settlement date applicable to the corresponding TriMas Performance-Based Foreign Unit Award (subject to continued employment or service with Horizon through such date) and will not be subject to any additional
performance objectives. The amount of cash subject to such Horizon Replacement Foreign Units for each such Horizon Participant will be equal to the product of (1) the number of earned TriMas Performance-Based Foreign Units, as determined by the
TriMas Compensation Committee, and (2) the Pre-Distribution TriMas Share Price. 
 (vii) Notwithstanding any provision
of the applicable award agreement or TriMas Foreign Incentive Plan, TriMas will pay each such award held by a TriMas Participant in cash, and Horizon will pay each such award held by a Horizon Participant in cash, in each case, on the date the
corresponding TriMas Time-Based Foreign Unit or TriMas Performance-Based Foreign Unit, as applicable, would have been settled. 
 (b) If an
Adjusted TriMas Compensation Award or Horizon Compensation Award is subject to accelerated vesting in connection with a change in control, a change in control will be deemed to have occurred (i) with respect to an Adjusted TriMas Compensation
Award, only upon a change in control of TriMas (as defined in the applicable equity incentive plan or award agreement) and (ii) with respect to a Horizon Compensation Award, only upon a change in control of Horizon (as defined in the applicable
equity incentive plan or award agreement). Notwithstanding the foregoing, this Section 10.1(b) will not apply to the extent that it would cause adverse tax consequences under Code Section 409A. 

(c) Prior to the Distribution Date, Horizon will establish equity compensation plans, so that upon the Distribution, Horizon will have in
effect an equity compensation plan that allows grants of equity compensation awards subject to substantially the same terms as those that apply to the corresponding TriMas Compensation Awards. From and after the Distribution Date, each Horizon
Compensation Award will be subject to the terms of the applicable Horizon equity compensation plan, the award agreement governing such Horizon Compensation Award and any Employment Agreement to which the applicable holder is a party. From

  
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and after the Distribution Date, Horizon will retain, pay, perform, fulfill and discharge all Liabilities arising out of or relating to the Horizon Compensation Awards. TriMas will retain, pay,
perform, fulfill and discharge all Liabilities arising out of or relating to the Adjusted TriMas Compensation Awards. 
 (d) In all events,
the adjustments provided for in this Section 10.1 will be made in a manner that, as determined by TriMas, avoids adverse Tax consequences to holders under Code Section 409A. 

Section 10.2 Conformity with Non-U.S. Laws. Notwithstanding anything to the contrary in this Agreement, (i) to the extent any
of the provisions in this Article X (or any equity award described herein) do not conform with applicable non-U.S. laws (including provisions for the collection of withholding taxes), such provisions will be modified to the extent necessary to
conform with such non-U.S. laws in such manner as is equitable and to preserve the intent hereof, as determined by the parties in good faith, and (ii) the provisions of this Article X may be modified to the extent necessary to avoid undue cost
or administrative burden arising out of the application of this Article X to awards subject to non-U.S. laws. 
 Section 10.3 Tax
Withholding and Reporting. 
 (a) Except as otherwise required by applicable non-U.S. law, the appropriate member of the TriMas Group
will be responsible for all payroll taxes, withholding and reporting with respect to Adjusted TriMas Compensation Awards held by TriMas Participants. Except as otherwise required by applicable non-U.S. law, the appropriate member of the Horizon
Group will be responsible for all payroll taxes, withholding and reporting with respect to Horizon Compensation Awards held by Horizon Participants. 

(b) If TriMas or Horizon determines in its reasonable judgment that any action required under this Article X will not achieve the intended
tax, accounting and legal results, including, without limitation, the intended results under Code Section 409A or FASB ASC Topic 718 – Stock Compensation, then at the request of TriMas or Horizon, as applicable, TriMas and Horizon will
mutually cooperate in taking such actions as are necessary or appropriate to achieve such results, or most nearly achieve such results if the originally-intended results are not fully attainable. 

Section 10.4 Employment Treatment. 

(a) Continuous employment with the Horizon Group and the TriMas Group following the Distribution Date will be deemed to be continuing service
for purposes of vesting and exercisability for the Horizon Compensation Awards and the Adjusted TriMas Compensation Awards. However, in the event that a Horizon Employee terminates employment after the Distribution Date and becomes employed by the
TriMas Group, for purposes of Article X, the Horizon Employee will be deemed terminated and the terms and conditions of the applicable performance incentive plan under which grants were made will apply. Similarly, in the event that a TriMas

  
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Employee terminates employment after the Distribution Date and becomes employed by the Horizon Group, for purposes of Article X, the TriMas Employee will be deemed terminated and the terms and
conditions of the performance incentive plan under which grants were made will apply. Notwithstanding the foregoing, for purposes of this Article X only, if an individual is a Delayed Transfer Employee, such individual will not be considered to have
terminated on his or her Applicable Transfer Date. In addition, a non-employee member of the board of directors of TriMas or Horizon will be treated in a similar manner to that described in this Section 10.4(a). 

(b) If, after the Distribution Date, TriMas or Horizon identifies an administrative error in the individuals identified as holding TriMas
Compensation Awards and Horizon Compensation Awards, the amount of such awards so held, the vesting level of such awards, or any other similar error, TriMas and Horizon will mutually cooperate in taking such actions as are necessary or appropriate
to place, as nearly as reasonably practicable, the individual and TriMas and Horizon in the position in which they would have been had the error not occurred. 

Section 10.5 Registration. Horizon will register the Horizon Common Stock relating to the Horizon Compensation Awards and make any
necessary filings with the appropriate Governmental Authorities as required under U.S. and foreign securities Laws. 
 ARTICLE XI 

BENEFIT PLAN REIMBURSEMENTS, BENEFIT PLAN THIRD- 

PARTY CLAIMS 

Section 11.1 General Principles. From and after the Distribution Date, any services that a member of the Horizon Group will
provide to the members of the TriMas Group or that a member of the TriMas Group will provide to the members of the Horizon Group relating to any Benefit Plans or Non-U.S. Benefit Plans will be set forth in the Transition Services Agreements (and, to
the extent provided therein, a member of the Horizon Group or the TriMas Group will provide administrative services referred to in this Employee Matters Agreement). 

Section 11.2 Benefit Plan Third-Party Claims. Any Third-Party Claim relating to the matters addressed in this Agreement will be
governed by the applicable provisions of the Separation Agreement. 
 ARTICLE XII 

INDEMNIFICATION 

Section 12.1 Indemnification. All Liabilities assumed by or allocated to Horizon or the Horizon Group pursuant to this Employee
Matters Agreement will be deemed to be Horizon Liabilities for purposes of Article VI of the Separation Agreement, and all Liabilities retained or assumed by or allocated to TriMas or the TriMas Group pursuant to this Employee Matters Agreement will
be deemed to be TriMas Liabilities for purposes of Article VI of the Separation Agreement. All such Horizon Liabilities and TriMas Liabilities will be governed by the applicable indemnification terms of the Separation Agreement. 

  
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 ARTICLE XIII 

COOPERATION 

Section 13.1 Cooperation. Following the date of this Employee Matters Agreement, TriMas and Horizon will, and will cause their
respective Subsidiaries, agents and vendors to, use reasonable best efforts to cooperate with respect to any employee compensation, benefits or human resources systems matters that TriMas or Horizon, as applicable, reasonably determines require the
cooperation of both TriMas and Horizon in order to accomplish the objectives of this Employee Matters Agreement. Without limiting the generality of the preceding sentence, (a) TriMas and Horizon will cooperate in coordinating each of their
respective payroll systems in connection with the transfers of TriMas Employees to the TriMas Group and the Distribution, (b) TriMas will, and will cause its Subsidiaries to, transfer records to Horizon as reasonably necessary for the proper
administration of the Horizon Benefit Plans and Horizon Non-U.S. Benefit Plans, to the extent such records are in TriMas’ possession, (c) TriMas and Horizon will share, with each other and with their respective agents and vendors (without
obtaining releases), all employee, participant and beneficiary information necessary for the efficient and accurate administration of the Benefit Plans and Non-U.S. Benefit Plans, and (d) TriMas and Horizon will share such information as is
necessary to administer equity awards pursuant to Article X, to provide any required information to holders of such equity awards, and to make any governmental filings with respect thereto. 

ARTICLE XIV 

MISCELLANEOUS 

Section 14.1 Vendor Contracts. Prior to the Distribution, TriMas and Horizon will use reasonable best efforts to
(a) negotiate with the current Third Party providers to separate and assign the applicable rights and obligations under each group insurance policy, health maintenance organization, administrative services contract, Third Party administrator
agreement, letter of understanding or arrangement that pertains to one or more TriMas Benefit Plans and one or more Horizon Benefit Plans (each, a “Vendor Contract”) to the extent that such rights or obligations pertain to Horizon
Employees and Former Horizon Employees and their respective Plan Payees or, in the alternative, to negotiate with the current Third Party providers to provide substantially similar services to the Horizon Benefit Plans on substantially similar terms
under separate contracts with Horizon or the Horizon Benefit Plans and (b) to the extent permitted by the applicable Third Party provider, obtain and maintain pricing discounts or other preferential terms under the Vendor Contracts. 

Section 14.2 Further Assurances. Prior to the Distribution, if either party identifies any commercial or other service that is
needed to ensure a smooth and orderly transition of its business in connection with the consummation of the transactions contemplated hereby, and that is not otherwise governed by the provisions of this Employee Matters Agreement, the parties will
cooperate in determining whether there is a mutually acceptable arm’s-length basis on which the other party will provide such service. 

  
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 Section 14.3 Employment Taxes Withholding Reporting Responsibility. Horizon and
TriMas hereby agree to follow the standard procedure for United States employment Tax withholding as provided in Section 4 of Rev. Proc. 2004-53, I.R.B. 2004-34. TriMas will withhold and remit all employment taxes for the last payroll date
preceding the Distribution Date with respect to all current and former employees of TriMas and Horizon who receive wages on such payroll date. 

Section 14.4 Data Privacy. The parties agree that any applicable data privacy Laws and any other obligations of the Horizon Group
and the TriMas Group to maintain the confidentiality of any employee information or information held by any benefit plans in accordance with applicable Law will govern the disclosure of employee information among the parties under this Employee
Matters Agreement. Horizon and TriMas will ensure that they each have in place appropriate technical and organizational security measures to protect the personal data of the Horizon Employees, Former Horizon Employees, TriMas Employees and Former
TriMas Employees. 
 Section 14.5 Third Party Beneficiaries. Nothing contained in this Employee Matters Agreement will be
construed to create any third-party beneficiary rights in any Person, including without limitation any Horizon Employee, TriMas Employee, Former TriMas Employee, or Former Horizon Employee (including any dependent or beneficiary thereof) nor will
this Employee Matters Agreement be deemed to amend any Benefit Plan or Non-U.S. Benefit Plan of TriMas, Horizon, or their Affiliates or to prohibit TriMas, Horizon or their respective Affiliates from amending or terminating any Benefit Plan or
Non-U.S. Benefit Plan. 
 Section 14.6 Effect if Distribution Does Not Occur. If the Distribution does not occur, then all
actions and events that are, under this Employee Matters Agreement, to be taken or occur effective as of the Distribution, or otherwise in connection with the Distribution, will not be taken or occur except to the extent specifically agreed by the
parties. 
 Section 14.7 Incorporation of Separation Agreement Provisions. The following provisions of the Separation Agreement
are hereby incorporated herein by reference, and unless otherwise expressly specified herein, such provisions will apply as if fully set forth herein (references in this Section 14.7 to an “Article” or “Section” will
mean Articles or Sections of the Separation Agreement, and references in the material incorporated herein by reference will be references to the Separation Agreement): Article V (relating to Further Assurances; Additional Information); Article VI
(relating to Release; Indemnification; and Guarantees); Article VII (relating to Exchange of Information; Litigation Management; Confidentiality); Article VIII (relating to Dispute Resolution); and Article IX (relating to Miscellaneous). 

Section 14.8 No Representation or Warranty. Each of TriMas (on behalf of itself and each other TriMas Entity) and Horizon (on
behalf of itself and each other Horizon 

  
 -37- 

 
Entity) understands and agrees that, except as expressly set forth in this Employee Matters Agreement, the Separation Agreement or in any other Ancillary Agreement, no party (including its
Affiliates) to this Employee Matters Agreement, the Separation Agreement or any other Ancillary Agreement, makes any representation or warranty with respect to any matter in this Employee Matters Agreement, including, without limitation, any
representation or warranty with respect to the legal or Tax status or compliance of any Benefit Plan, compensation arrangement or Employment Agreement, and TriMas disclaims any and all liability with respect thereto. Except as expressly set forth in
this Employee Matters Agreement, the Separation Agreement or any other Ancillary Agreement, none of TriMas, Horizon or any of their respective Subsidiaries (including their respective Affiliates) makes any representation or warranty about and will
not have any Liability for the accuracy of or omissions from any information, documents or materials made available in connection with entering into this Employee Matters Agreement, the Separation Agreement or any other Ancillary Agreement or the
transactions contemplated hereby or thereby. 

  
 -38- 

 IN WITNESS WHEREOF, the parties have caused this Employee Matters Agreement to be executed on the
date first written above by their respective duly authorized officers. 
  

			
	 TRIMAS CORPORATION

		
	By:		  

			 Name:

			 Title:

	
	 HORIZON GLOBAL CORPORATION

		
	By:		  

			 Name:

			Title:

 [Signature Page to Employee Matters Agreement] 

  
 -39-

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