Document:

INDEMNIFICATION AGREEMENT

 Exhibit 10.2 
  
 INDEMNIFICATION AGREEMENT 
  
 dated as of October 25, 2004, 
  
 between Cytyc Corporation (the “Company”), 
  
 and Timothy M. Adams (“Indemnitee”). 
  
 WHEREAS, the Board of Directors has determined that it is in the best interest of the Company’s shareholders to attract and retain qualified persons
as directors and officers, and that the Company should act to assure such persons that there will be adequate certainty of protection through indemnification against risks of claims and actions against them arising out of their service to and
activities on behalf of the Company; and 
  
 WHEREAS, the Company
has adopted provisions in its Certificate of Incorporation providing for indemnification of its officers and directors, and the Company wishes to supplement the rights and obligations of the Company and Indemnitee with respect to indemnification;
and 
  
 WHEREAS, in order to induce and encourage highly
experienced and capable persons such as Indemnitee to serve and continue to serve as directors and officers of the Company and in any other capacity with respect to the Company, and to otherwise promote the desirable end that such persons will
resist what they consider unjustified lawsuits and claims made against them in connection with the good faith performance of their duties to the Company, with the knowledge that certain costs, judgments, penalties, fines, liabilities and expenses
incurred by them in their defense of such litigation are to be borne by the Company and they will receive maximum protection against such risks and liabilities as may be afforded by law, the Board of Directors of the Company has determined that the
following Agreement is reasonable and prudent to promote and ensure the best interests of the Company and its stockholders; and 
  
 WHEREAS, the Company desires to have Indemnitee continue to serve as a director or officer of the Company and in such other capacity with respect to the
Company as the Company may request, as the case may be, free from undue concern for unpredictable, inappropriate or unreasonable legal risks and personal liabilities by reason of Indemnitee acting in good faith in the performance of
Indemnitee’s duty to the Company; and Indemnitee desires to continue so to serve the Company, provided, and on the express condition, that he or she is furnished with the indemnity set forth hereinafter; 
  
 Now, therefore, in consideration of Indemnitee’s continued service as a
director or officer of the Company, the parties hereto agree as follows: 
  
 1. Service by Indemnitee. Indemnitee will serve and/or continue to serve as a director or officer of the Company so long as Indemnitee is duly elected or appointed and until such time as Indemnitee is removed
as permitted by law or tenders a resignation in writing. 

 2. Indemnification. The Company shall indemnify Indemnitee to the fullest extent permitted by the
Delaware General Corporation law in effect on the date hereof or as such law may from time to time be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification
rights than said law permitted the Company to provide prior to such amendment). Without diminishing the scope of the indemnification provided by this Section, the rights of indemnification of Indemnitee provided hereunder shall include but shall not
be limited to those rights hereinafter set forth, except that no indemnification shall be paid to Indemnitee: 
  

	 	(a)	to the extent expressly prohibited by Delaware law; or 

  

	 	(b)	for which payment is actually made to Indemnitee under a valid and collectible insurance policy or under a valid and enforceable indemnity clause, by-law or agreement of the Company
or any other Company or organization on whose board Indemnitee serves at the request of the Company, except in respect of any indemnity exceeding the payment under such insurance, clause, by-law or agreement; or 

  

	 	(c)	in connection with an action, suit or proceeding, or part thereof (including claims and counterclaims) initiated by Indemnitee, except a judicial proceeding or arbitration pursuant
to Section 10 to enforce rights under this Agreement, unless the action, suit or proceeding (or part thereof) was authorized by the Board of Directors of the Company. 

  
 3. Action or Proceedings Other than an Action by or in the Right of the Company. Except as limited by Section 2
above, Indemnitee shall be entitled to the indemnification rights provided in this Section if Indemnitee is a party or is threatened to be made a party to any Proceeding (other than an action by or in the name of the Company) by reason of the fact
that Indemnitee is or was a director, officer, employee or agent of the Company, or is or was serving at the request of the Company as a director, officer, employee or agent or fiduciary of any other entity (including, but not limited to, another
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise or entity); or by reason of anything done or not done by Indemnitee in any such capacity. Pursuant to this Section, Indemnitee shall be indemnified against all
costs, judgments, penalties, fines (including, without limitation, ERISA excise taxes or penalties assessed on a person with respect to any employee benefit plan), liabilities, amounts paid in settlement by or on behalf of Indemnitee, and Expenses
(defined below) reasonably incurred or suffered by Indemnitee in connection with such Proceeding if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company, and with respect
to any criminal Proceeding, had no reasonable cause to believe his or her conduct was unlawful. 
  
 4. Indemnity in Proceedings by or in the Name of the Company. Except as limited by Section 2 above, Indemnitee shall be entitled to the
indemnification rights provided in this Section if Indemnitee was or is a party or is threatened to be made a party to any Proceeding brought by or in the name of the Company to procure a judgment in its favor by reason of the 
  

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 fact that Indemnitee is or was a director, officer, employee or agent or fiduciary of the Company, or by reason of
anything done or not done by Indemnitee in any such capacity. Pursuant to this Section, Indemnitee shall be indemnified against all costs, judgments, penalties, fines, liabilities, amounts paid in settlement by or on behalf of Indemnitee, and
Expenses reasonably incurred or suffered by Indemnitee in connection with such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; provided,
however, that no such indemnification shall be made in respect of any claim, issue, or matter as to which Delaware law expressly prohibits such indemnification by reason of any adjudication of liability of Indemnitee to the Company, unless and only
to the extent that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case,
Indemnitee is entitled to indemnification for such costs, judgments, penalties, fines, liabilities and Expenses as such court shall deem proper. 
  
 5. Indemnification for Costs, Charges and Expenses of Successful Party. Notwithstanding the limitations of Sections 3 and 4 above, to the extent
that Indemnitee has been successful, on the merits or otherwise, in whole or in part, in defense of any Proceeding (including any Proceeding brought by or on behalf of the Company) or in defense of any claim, issue or matter therein, including,
without limitation, the dismissal of any action without prejudice, or if it is ultimately determined that Indemnitee is otherwise entitled to be indemnified against Expenses, Indemnitee shall be indemnified against all Expenses reasonably incurred
or suffered in connection therewith. 
  
 6. Partial
Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the costs, judgments, penalties, fines, liabilities or Expenses reasonably incurred or suffered in
connection with any Proceeding (including any Proceeding brought by or on behalf of the Company), but not, however, for all of the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such costs, judgments,
penalties, fines, liabilities, amounts paid in settlement and Expenses reasonably incurred or suffered to which Indemnitee is entitled. 
  
 7. Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the maximum extent permitted by applicable
law, Indemnitee shall be entitled to indemnification against all Expenses reasonably incurred or suffered by Indemnitee or on Indemnitee’s behalf if Indemnitee appears as a witness or otherwise incurs legal expenses as a result of or related to
Indemnitee’s service as a director, officer, employee or agent of the Company, in any threatened, pending or completed legal, administrative, investigative or other proceeding or matter to which Indemnitee neither is, nor is threatened to be
made, a party. 
  
 8. Determination of Entitlement to
Indemnification. Upon written request by Indemnitee for indemnification pursuant to Sections 5 or 7, the Company shall pay all Expenses reasonably incurred or suffered by Indemnitee. Upon written request by Indemnitee for indemnification
pursuant to Sections 3, 4, or 6, the entitlement of Indemnitee to indemnification, to the extent not provided pursuant to the terms of this Agreement, shall be determined by the following person or persons who shall be empowered to make such
determination (unless ordered by a court): (a) the Board of Directors of the Company by a majority vote of 
  

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 Disinterested Directors (defined below), whether or not such majority constitutes a quorum; (b) a committee of
Disinterested Directors designated by a majority vote of Disinterested Directors, whether or not such majority constitutes a quorum; (c) if there are no Disinterested Directors, or if the Disinterested Directors so direct, by Independent Counsel
(defined below) in a written opinion to the Board of Directors, a copy of which shall be delivered to Indemnitee; or (d) the stockholders of the Company. Such Independent Counsel shall be selected by the Board of Directors and approved by
Indemnitee. Upon failure of the Board so to select such Independent Counsel or upon failure of Indemnitee so to approve, such Independent Counsel shall be selected upon application to a court of competent jurisdiction. Such determination of
entitlement to indemnification shall be made not later than thirty (30) calendar days after receipt by the Company of a written request for indemnification. Any Expenses incurred by Indemnitee in connection with a request for indemnification or
payment of Expenses hereunder, or under any other agreement, any provision of the Company’s Certificate of Incorporation or any policy of directors’ and officers’ liability insurance, shall be borne by the Company. The Company hereby
indemnifies Indemnitee for any such Expense and agrees to hold Indemnitee harmless therefrom irrespective of the outcome of the determination of Indemnitee’s entitlement to indemnification. If the person making such determination shall
determine that Indemnitee is entitled to indemnification as to part (but not all) of the application for indemnification, such person shall reasonably prorate such partial indemnification among the claims, issues or matters at issue at the time of
the determination. 
  
 9. Presumptions and Effect of Certain
Proceedings. The Secretary of the Company shall, promptly upon receipt of Indemnitee’s request for indemnification, advise in writing the Board of Directors or such other person or persons empowered to make the determination as provided in
Section 8 that Indemnitee has made such request for indemnification. Upon making such request for indemnification, Indemnitee shall be presumed to be entitled to indemnification hereunder and the Company shall have the burden of proof in making any
determination contrary to such presumption. If the person or persons so empowered to make such determination shall have failed to make the requested determination with respect to indemnification within 30 calendar days after receipt by the Company
of such request, a requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall be absolutely entitled to such indemnification, absent actual and material fraud in the request for indemnification.
The termination of any Proceeding described in Sections 3 or 4 by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself: (a) create a presumption that Indemnitee did not act in
good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct
was unlawful; or (b) otherwise adversely affect the rights of Indemnitee to indemnification except as may be provided herein. 
  
 10. Remedies of Indemnitee in Cases of Determination not to Indemnify or to Pay Expenses. In the event that a determination is made that Indemnitee
is not entitled to indemnification hereunder or if payment has not been timely made following a determination of entitlement to indemnification pursuant to Sections 8 and 9, or if Expenses are not paid pursuant to Section 15, Indemnitee shall be
entitled to final adjudication in a court of competent jurisdiction of entitlement to such indemnification or payment. Alternatively, Indemnitee, at 
  

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 Indemnitee’s option, may seek an award in an arbitration to be conducted by a single arbitrator pursuant to the
rules of the American Arbitration Association, such award to be made within sixty days following the filing of the demand for arbitration. The Company shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration or
any other claim. The determination in any such judicial proceeding or arbitration shall be made de novo and Indemnitee shall not be prejudiced by reason of a determination (if so made) pursuant to Sections 8 or 9 that Indemnitee is not
entitled to indemnification. If a determination is made or deemed to have been made pursuant to the terms of Section 8 or 9 that Indemnitee is entitled to indemnification, the Company shall be bound by such determination and is precluded from
asserting that such determination has not been made or that the procedure by which such determination was made is not valid, binding and enforceable. The Company further agrees to stipulate in any such court or before any such arbitrator that the
Company is bound by all the provisions of this Agreement and is precluded from making any assertions to the contrary. If the court or arbitrator shall determine that Indemnitee is entitled to any indemnification or payment of Expenses hereunder, the
Company shall pay all Expenses reasonably incurred or suffered by Indemnitee in connection with such adjudication or award in arbitration (including, but not limited to, any appellate Proceedings). 
  
 11. Other Rights to Indemnification. Indemnification and payment of
Expenses provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may now or in the future be entitled under any provision of the Certificate of Incorporation, By-laws or other organizational documents of the
Company, vote of stockholders or Disinterested Directors, provision of law, agreement or otherwise. 
  
 12. Expenses to Enforce Agreement. In the event that Indemnitee is subject to or intervenes in any Proceeding in which validity or enforceability
of this Agreement is at issue or seeks an adjudication or award in arbitration to enforce Indemnitee’s rights under, or to recover damages for breach of, this Agreement, Indemnitee shall be indemnified by the Company against any actual Expenses
incurred by Indemnitee. 
  
 13. Continuation of Indemnity.
All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is a director, officer, employee or agent of the Company or is serving at the request of the Company as a director, officer, employee or agent
or fiduciary of any other entity (including, but not limited to, another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise or entity) of the Company and shall continue thereafter with respect to any possible
claims based on the fact that Indemnitee was a director, officer, employee or agent of the Company or was serving at the request of the Company as a director, officer, employee or agent or fiduciary of any other entity (including, but not limited
to, another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise or entity). This Agreement shall be binding upon all successors and assigns of the Company (including any transferee of all or substantially all of
its assets and any successor by merger or operation of law) and shall inure to the benefit of the heirs, personal representative, executor, administrator and estate of Indemnitee. 
  
 14. Notification and Defense of Claim. Promptly after receipt by Indemnitee of notice of any Proceeding, Indemnitee
will, if a claim in respect thereof is to be made against the 
  

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 Company under this Agreement, notify the Company in writing of the commencement thereof; but the omission so to notify
the Company will not relieve the Company from any liability that it may have to Indemnitee. 
  
 15. Payment of Expenses. All Expenses incurred by Indemnitee in advance of the final disposition of any Proceeding shall be paid by the Company at the request of Indemnitee, each such payment to be made within
thirty (30) calendar days after the receipt by the Company of a statement or statements from Indemnitee requesting such payment or payments from time to time. Indemnitee’s entitlement to such Expenses shall include those incurred in connection
with any Proceeding by Indemnitee seeking a judgment in court or an adjudication or award in arbitration pursuant to this Agreement (including the enforcement of this provision) or the Company’s Certificate of Incorporation. Such statement or
statements shall reasonably evidence the expenses and costs incurred by Indemnitee in connection therewith and shall include or be accompanied by an undertaking, in substantially the form attached as Exhibit 1, by or on behalf of Indemnitee to
reimburse such amount if it is finally determined, by a court of competent jurisdiction, after all appeals, that Indemnitee is not entitled to be indemnified against such Expenses by the Company as provided by this Agreement or otherwise. The
Company shall not require Indemnitee to secure Indemnitee’s undertaking to reimburse any such amounts. 
  
 16. Separability; Prior Indemnification Agreements. If any provision or provisions of this Agreement shall be held to be invalid, illegal or
unenforceable for any reason whatsoever (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, all portions of any paragraphs of this Agreement containing any such provision held to
be invalid, illegal or unenforceable, that are not by themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby, and (b) to the fullest extent possible, the provisions of this Agreement (including, without
limitation, all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent
of the parties that the Company provide protection to Indemnitee to the fullest enforceable extent. This Agreement shall supersede and replace any prior indemnification agreements entered into by and between the Company and Indemnitee and any such
prior agreements shall be terminated upon execution of this Agreement; provided, however, that the contract rights conferred upon Indemnitee in this Agreement shall be in addition to, and shall not replace or extinguish, the indemnification rights
conferred upon Indemnitee in the Company’s Certificate of Incorporation. 
  
 17. Headings; References; Pronouns. The headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction
thereof. References herein to section numbers are to sections of this Agreement. All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as appropriate. 
  

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 18. Definitions. For purposes of this Agreement. 
  

	 	(a)	“Disinterested Director” means a director of the Company who is not or was not a party to the Proceeding in respect of which indemnification is being sought by Indemnitee.

  

	 	(b)	“Expenses” includes, without limitation, expenses incurred in connection with the defense or settlement of any and all investigations, judicial or administrative
proceedings or appeals, attorneys’ fees, witness fees and expenses, fees and expenses of accountants and other advisors, retainers and disbursements and advances thereon, the premium, security for, and other costs relating to any bond
(including cost bonds, appraisal bonds or their equivalents), and any expenses of establishing a right to indemnification under Sections 8, 10 and 12 above but shall not include the amount of judgments, fines or penalties actually levied against
Indemnitee. 

  

	 	(c)	“Independent Counsel” means a law firm or a member of a law firm that neither is presently nor in the past five years has been retained to represent: (i) the Company or
Indemnitee in any matter material to either such party, or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any
person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s right to indemnification under this
Agreement. 

  

	 	(d)	“Proceeding” includes any threatened, pending or completed investigation, action, suit or other proceeding, whether brought in the name of the Company or otherwise,
against Indemnitee, for which indemnification is not prohibited under Sections 2(a)-(c) above and whether of a civil, criminal, administrative or investigative nature, including, but not limited to, actions, suits or proceedings in which Indemnitee
may be or may have been involved as a party or otherwise, by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Company, or is or was serving, at the request of the Company, as a director, officer, employee or
agent or fiduciary of any other entity, including, but not limited to, another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise or entity, or by reason of anything done or not done by Indemnitee in any such
capacity, whether or not Indemnitee is serving in such capacity at the time any liability or expense is incurred for which indemnification or reimbursement can be provided under this Agreement. 

  
 19. Other Provisions. 
  

	 	(a)	This Agreement shall be interpreted and enforced in accordance with the laws of the State of Delaware. Except as set forth in Paragraph 10 hereof with respect to Indemnitee’s
right to arbitration, to the fullest extent permitted by law the Court of Chancery of the State of Delaware shall have exclusive jurisdiction to hear and determine all actions, suits or proceedings arising out of this Agreement.

  

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	 	(b)	This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the
same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced as evidence of the existence of this Agreement. 

  

	 	(c)	This Agreement shall not be deemed an employment contract between the Company and any Indemnitee who is an officer of the Company, and, if Indemnitee is an officer of the Company,
Indemnitee specifically acknowledges that Indemnitee may be discharged at any time for any reason, with or without cause, and with or without severance compensation, except as may be otherwise provided in a separate written contract between
Indemnitee and the Company. 

  

	 	(d)	Upon a payment to Indemnitee under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of the Indemnitee to recover against any person
for such liability, and Indemnitee shall execute all documents and instruments reasonably required and shall take such other actions as may be reasonably necessary to secure such rights, including the execution of such documents as may be necessary
for the Company to bring suit to enforce such rights; provided, however, that Indemnitee need not execute any document or instrument or take any other action that may result in any less liability to Indemnitee unless Indemnitee is indemnified with
respect thereto. 

  

	 	(e)	No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both parties hereto. No waiver of any of the provisions of this Agreement
shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 

  
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and year first above written.

  

			
	The Company
		
	By:	 	 /s/ A. Suzanne Meszner-Eltrich

	 	 	A. Suzanne Meszner-Eltrich
		
	 	 	Sr. Vice President, General Counsel
	 	 	and Secretary
		
	 	 	 /s/ Timothy M. Adams

	 	 	Timothy M. Adams

  

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 EXHIBIT 1 
  

UNDERTAKING TO REPAY INDEMNIFICATION EXPENSES 
  
 I
                                        ,
agree to reimburse the Company for all expenses paid to me by the Company for my defense in any civil or criminal action, suit, or proceeding, in the event, and to the extent that it shall ultimately be determined, by a court of competent
jurisdiction, that I am not entitled to be indemnified by the Company for such expenses. 
  

					
	 	 	Signature	  	  

	 	 	Typed Name	  	  

	 	 	Office	  	  

	                                    )ss:	 	 	  	 

  
 Before me
                                        ,
on this day personally appeared
                                        ,
known to me to be the person whose name is subscribed to the foregoing instrument, and who, after being duly sworn, stated that the contents of said instrument is to the best of his/her knowledge and belief true and correct and who acknowledged that
he/she executed the same for the purpose and consideration therein expressed. 
  
 GIVEN under my hand and official seal at                     , this      day of
                    , 200  . 
  

	
	  

	Notary Public

  
 My commission expires:

  

 9Change in Control Agreement for Mark E. Goldstein

 Exhibit 10.29 
  
 ACTUANT CORPORATION 
 CHANGE IN CONTROL AGREEMENT 
 FOR 
 MARK E. GOLDSTEIN 
  
 This Agreement is made as of August
19, 2004 (the “Effective Date”), between Actuant Corporation (the “Corporation”), a Wisconsin corporation and Mark E. Goldstein (the “Executive”). 
  
 WHEREAS, the Executive is a valued employee of the Corporation; and 
  
 WHEREAS, the Corporation desires to enter into this Change in Control
Agreement with the Executive to provide the Executive with contractual assurances to induce the Executive to remain as an employee of the Corporation notwithstanding the possibility, threat or occurrence of a Change in Control (as defined below) of
the Corporation. 
  
 NOW, THEREFORE, in consideration of the
mutual covenants and agreements contained herein, the Executive and the Corporation agree as follows: 
  
 1. Employment and Duties. The Corporation hereby employs Executive as Vice President – Tools & Supplies, with all powers and authority as
are customary to this position, and Executive hereby accepts employment with the Corporation in accordance with the terms and conditions set forth herein. Executive shall have such executive responsibilities as is customary with this position and as
the Corporation’s Board of Directors or the President (as the case may be) shall from time to time assign to him. Executive agrees to devote his full time (excluding annual vacation time), skill, knowledge, and attention to the business of the
Corporation and the performance of his duties under this Agreement. 
  
 2. Termination, Bonus, and Severance Pay. 
  
 (a) As used in this Agreement, a Change in Control means: 
  
 (i) a sale of over 50% of the stock of the Corporation measured in terms of voting power, other than in a public offering; or 

 
 (ii) the sale by the Corporation of over 50% of its
business or assets in one or more transactions over a consecutive 12-month period; or 
  
 (iii) a merger or consolidation of the Corporation with or into any other corporation or corporations such that the shareholders of the
Corporation prior to the merger or consolidation do not own at least 50% of the surviving entity measured in terms of voting power; or 
  
 (iv) the acquisition by any means of more than 25% of the voting power or common stock of the Corporation by any person or group of
persons (with group defined by the definitions under Section 13(d)(3) of the Securities Exchange Act of 1934, as amended); or 
  

 (v) the election of directors constituting a majority of the Corporation’s board of
directors pursuant to a proxy solicitation not recommended by the Corporation’s board of directors. 
  
 (b) As used in this Agreement, a Triggering Event means: 
  
 (i) (A) reducing the base salary paid to the Executive or (B) a material reduction in Executive’s bonus
opportunity or (C) reducing the total aggregate value of the fringe benefits received by the Executive from the levels received by the Executive at the time of a Change in Control or during the 180 day period immediately preceding the Change in
Control; or 
  
 (ii) a material change in the
Executive’s position or duties or the Executive’s reporting responsibilities from the levels existing at the time of a Change in Control or during the 180 day period immediately preceding the Change in Control; or 
  
 (iii) a change in the location or headquarters where the
Executive is normally expected to provide services to a location of 40 or more miles from the previous location existing at the time of the Change in Control or during the 180 day period immediately preceding the Change in Control. 
  
 (c) If the Corporation terminates Executive’s
employment within the period beginning six months prior to a Change in Control and ending 24 months following a Change in Control or Executive voluntarily terminates his services following a Triggering Event that occurs within 24 months following
the date of a Change in Control, the Corporation shall pay to the Executive a lump sum equal to the sum of (A) twice the amount of the highest per annum base rate of salary in effect with respect to the Executive during the two-year period
immediately prior to the termination of employment plus (B) twice the amount of the highest annual bonus or incentive compensation earned by the Executive under any cash bonus or incentive compensation plan of the Corporation during the three
complete fiscal years of the Corporation immediately preceding the termination of employment. Such lump sum shall be paid by the Corporation to the Executive within twenty days after the Executive’s termination of employment. In addition, the
Corporation, at the Corporation’s cost, shall continue to provide Executive with the welfare benefits and other perquisites Executive was receiving at the time of the Change in Control for a period of two years following Executive’s
termination of employment or such earlier date as Executive becomes employed by another employer and becomes eligible for welfare benefits. For purposes hereof, perquisites will include the Executive’s right to lease a car or a car allowance,
as the case may be. 
  
 (d) Notwithstanding any
provision herein, no amounts will be due under this Agreement in the event the Executive’s employment is terminated by the Corporation for cause. The term “for cause” shall mean solely the following events: 
  
 (i) Executive has been convicted of a felony which has
adversely affected the Corporation’s reputation; 
  

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 (ii) Executive has materially misappropriated the Corporation’s funds, property or
opportunities; or 
  
 (iii) Executive has
materially breached any of the provisions of this Agreement after having been provided by written notice a reasonable opportunity (not less than 15 business days) to cure such breach. 
  
 3. Certain Additional Payments by the Corporation. 
  
 (a) In the event it shall be determined that the severance benefits payable to Executive under this
Agreement or any other payments or benefits received or to be received by the Executive (whether payable pursuant to the terms of this Agreement, any other plan, agreement or arrangement) (the “Payments”) would be subject to the excise tax
imposed by Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”) or any interest or penalties are incurred by the Executive with respect to such excise tax (such excise tax, together with any such interest and
penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive shall be entitled to receive an additional payment (a “Gross-Up Payment”). The Gross-Up Payment shall be in an amount such that after
payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and excise tax imposed on
the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. 
  
 (b) Subject to the provisions of paragraph (c) of this Section 3, all determinations required to be made under this Section 3, including
whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made by a certified public accounting firm designated by the Executive (the
“Accounting Firm”), which shall provide detailed supporting calculations both to the Corporation and the Executive within twenty business days of the receipt of notice from the Executive that there has been a Payment, or such earlier time
as is requested by the Corporation. All fees and expenses of the Accounting Firm shall be borne solely by the Corporation. Any Gross-Up Payment, as determined pursuant to this Section 3, shall be paid by the Corporation to the Executive within five
days of the receipt of the Accounting Firm’s determination. Any determination by the Accounting Firm shall be binding upon the Corporation and the Executive. As a result of the uncertainty in the application of Section 4999 of the Code at the
time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments which will not have been made by the Corporation should have been made (“Underpayment”), consistent with the calculations required to
be made hereunder. In the event that the Corporation exhausts its remedies pursuant to paragraph (c) of this Section 3 and the Executive thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine the amount of
the Underpayment that has occurred 

  

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and any such Underpayment shall be promptly paid by the Corporation to or for the benefit of Executive. 
  
 (c) The Executive shall notify the Corporation in writing of
any claim by the Internal Revenue Service that, if successful, would require the payment by the Corporation of the Gross-Up Payment. Such notification shall be given as soon as practicable but no later than ten business days after the Executive is
informed in writing of such claim and shall describe the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the thirty-day period following the date on
which he gives such notice to the Corporation (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Corporation notifies the Executive in writing prior to the expiration of such period that
it desires to contest such claim, the Executive shall: 
  
 (i) give the Corporation any information reasonably requested by the Corporation relating to such claim, 
  
 (ii) take such action in connection with contesting such claim as the Corporation shall reasonably request in writing from time to time,
including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Corporation, 
  
 (iii) cooperate with the Corporation in good faith in order effectively to contest such claim, and 
  
 (iv) permit the Corporation to participate in any
proceedings relating to such claim; 
  
 provided, however, that
the Corporation shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in connection with such contest and shall indemnify and hold the Executive harmless, on an after-tax basis, for any Excise Tax
or income tax (including interest and penalties with respect thereto) imposed as a result of such representation and payment of costs and expenses. Without limitation on the foregoing provisions of this paragraph (c) of Section 3, the Corporation
shall control all proceedings taken in connection with such contest and, at its sole option, may pursue or forego any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may,
at its sole option, either direct the Executive to pay the tax claimed and sue for a refund or contest the claim in any permissible manner, and the Executive agrees to prosecute such contest to a determination before any administrative tribunal, in
a court of initial jurisdiction and in one or more appellate courts, as the Corporation shall determine; provided, however, that if the Corporation directs the Executive to pay such claim and sue for a refund, the Corporation shall advance the
amount of such payment to the Executive, on an interest-free basis and shall indemnify and hold the Executive harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with
respect to such advance or with respect to any imputed income with respect to such advance; and provided, further, that any extension of the statute of limitations 

  

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relating to payment of taxes for the taxable year of the Executive with respect to which such contested amount is claimed to be due is limited solely to such
contested amount. Furthermore, the Corporation’s control of the contest shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and the Executive shall be entitled to settle or contest, as the case may be,
any other issue raised by the Internal Revenue Service or any other taxing authority. 
  
 (d) If, after the receipt by the Executive of an amount advanced by the Corporation pursuant to paragraph (c) of this Section 3, the
Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Corporation’s complying with the requirements of paragraph (c) of this Section 3) promptly pay to the Corporation the amount of
such refund (together with any interest paid or credited thereon after taxes applicable thereto). If after the receipt by the Executive of an amount advanced by the Corporation pursuant to paragraph (c) of this Section 3, a determination is made
that the Executive shall not be entitled to any refund with respect to such claim and the Corporation does not notify the Executive in writing of its intent to contest such denial of refund prior to the expiration of thirty days after such
determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 
  
 4. Confidential Information. As a supplement to any other
confidentiality provisions applicable to the Executive, Executive acknowledges that all Confidential Information is and shall continue to be the exclusive proprietary property of the Corporation, whether or not disclosed to or entrusted to the
custody of Executive. Executive will not, either during the term hereof or at any time thereafter, disclose any Confidential Information, in whole or in part, to any person or entity other than to employees or affiliates of the Corporation, for any
reason or purpose, unless the Corporation gives its prior written consent to such disclosure. Executive also will not, either during the term hereof or at any time thereafter, use in any manner any Confidential Information for his own purposes or
for the benefit of any person or entity except the Corporation and its affiliates whether such use consists of duplication, removal, oral communication, disclosure, transfer or other unauthorized use thereof, unless the Corporation gives its prior
written consent to such use. As used herein, the term “Confidential Information” refers to all information and materials not in the public domain belonging to, used by or in the business of the Corporation (the “Business”)
relating to its business strategies, products, pricing, customers, technology, programs, costs, employee compensation, marketing plans, developmental plans, computer programs, computer systems, inventions, developments, formulae, processes, designs,
drawings, trade secrets of every kind and character and competitive information. “Confidential Information” also includes confidential information belonging to other companies and disclosed to the Executive by the Corporation. 

 
 5. Non-competition and Inventions. 
  
 (a) During the period of employment of Executive and for a
period of one year after Executive’s termination of employment for any reason, Executive shall not directly or indirectly as a principal, agent, owner, employee, consultant, advisor, trustee, 

  

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beneficiary, distributor, partner, co-venturer, officer, director, stockholder or in any other capacity, nor will any entity owned by Executive: 

 
 (i) divert or attempt to divert any business from the
Corporation or engage in any act likely to cause any customer or supplier of the Corporation to discontinue or curtail its business with the Corporation or to do business with another entity, firm, business, activity or enterprise directly or
indirectly competitive with the Corporation; or 
  
 (ii) contact, sell or solicit to sell or attempt to contact, sell or solicit to sell products competitive to those sold by the Corporation to any customer of the Corporation with which Executive had contact while performing services for the
Corporation; or 
  
 (iii) solicit or attempt to
solicit any employee of the Corporation for employment or retention. 
  
 Notwithstanding the provisions above, Executive may acquire securities of any entity the securities of which are publicly traded, provided that the value of the securities of such entity held directly or indirectly by Executive immediately
following such acquisition is less than 5% of the total value of the then outstanding class or type of securities acquired. 
  
 (b) Executive acknowledges and agrees that the restrictions set forth in this Section 5 are founded on valuable consideration and are
reasonable in duration and geographic area in view of the circumstances under which this Agreement is executed and that such restrictions are necessary to protect the legitimate interests of the Corporation. If, in any judicial proceeding, a court
shall refuse to enforce any separate covenant set forth herein, then such unenforceable covenant shall be deemed eliminated from this Section 4 for the purpose of that proceeding to the extent necessary to permit the remaining separate covenants to
be enforced. 
  
 (c) The Executive hereby sells,
transfers and assigns to the Corporation the entire right, title and interest of the Executive in and to all inventions, ideas, disclosures and improvements, whether patented or unpatented, and copyrightable materials, made or conceived by the
Executive, solely or jointly, or in whole or in part, during the period Executive is bound by this Agreement which (i) relate to methods, apparatus, designs, products, processes or devices sold, leased, used or under construction or development by
the Corporation or any subsidiary or (ii) otherwise relate to or pertain to the business, functions or operations of the Corporation or any subsidiary, or (iii) arise (wholly or partly) from the efforts of the Executive during the term hereof in
connection with his performance of his duties hereunder. The Executive shall communicate promptly and disclose to the Corporation, in such form as the Corporation requests, all information, details and data pertaining to the aforementioned
inventions, ideas, disclosures and improvements; and, whether during the term hereof or thereafter, the Executive shall execute and deliver to the Corporation such formal transfers and assignments and such other papers and documents as may be
required of the Executive to permit the Corporation to file and prosecute the patent applications and, as to copyrightable 

  

 - 6 - 

 
material, to obtain copyright thereon. This provision does not relate to any invention for which (i) no equipment, supplies, facilities or trade secret
information of the Corporation was used and which was developed entirely on the Executive’s own time and which does not relate (A) directly to the business of the Corporation, or (B) to the Corporation’s actual or demonstrably anticipated
research or development; or (ii) does not result in any work performed by the Executive for the Corporation. 
  
 (d) The provisions in this paragraph are a supplement to any other confidentiality and non-compete provisions applicable to the Executive
in any other agreements. 
  
 6. Miscellaneous. 

 
 (a) This Agreement shall be governed by and construed in
accordance with the internal laws of the State of Wisconsin, without reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be
amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives. 
  
 (b) All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by
registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
  
 If to the Executive, to his address appearing on the records of the Corporation. 
  
 If to the Corporation: 
  
 Actuant Corporation 
 6100 North Baker Road

 Milwaukee, WI 53209 
 Attention: Chairman of the Audit Committee 
  
 With a
copy to: 
  
 McDermott Will & Emery LLP 
 227 West Monroe Street 
 Chicago, IL 60606

 Attention: Helen R. Friedli 
  
 or to such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective
when actually received by the addressee. 
  
 (c)
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 
  

 - 7 - 

 (d) The Corporation may withhold from any amounts payable under this Agreement such
federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
  
 (e) The Executive’s or the Corporation’s failure to insist upon strict compliance with any provisions hereof or any other
provision of this Agreement or the failure to assert any right the Executive or the Corporation may have hereunder, including, without limitation, the right of the Executive to terminate employment for cause pursuant to this Agreement, shall not be
deemed to be a waiver of such provision or right of any other provision or right of this Agreement. 
  
 (f) The Executive and the Corporation acknowledge that, except as may otherwise be provided herein or under any other written agreement
between the Executive and the Corporation, the employment of the Executive by the Corporation is “at will” and the Executive’s employment may be terminated by the Corporation at any time. 
  
 (g) The Corporation agrees that if it breaches any payment
obligation hereunder, the Corporation will pay all reasonable attorney fees and costs incurred by Executive in enforcing Executive’s rights hereunder. 
  
 (h) This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together
shall constitute one and the same instrument. 
  
 (i) If the Corporation sells, leases, exchanges or otherwise disposes of, in a single transaction or series of related transactions, all or substantially all of its property and assets, or if the Corporation ceases to exist as a separate
entity as a result of a merger, spin-off, reorganization or otherwise, then the Corporation will, as a condition precedent to any such transaction, cause effective provision to be made so that the person or entity acquiring such property and assets
or succeeding to the business of the Corporation as the surviving entity of a merger, spin-off, reorganization or otherwise, as applicable, becomes bound by, and replaces the Corporation under, this Agreement. 
  
 7. Injunctive Relief. Executive acknowledges and agrees that
irreparable injury will result to the Corporation in the event Executive breaches any covenant contained in this Agreement and that the remedy at law for such breach will be inadequate. Therefore, if Executive engages in any act in violation of the
provisions of this Agreement, the Corporation shall be entitled, in addition to such other remedies and damages as may be available to it by law or under this Agreement, to injunctive or other equitable relief to enforce the provisions hereof.

  
 8. Prior Agreement. This Agreement supersedes the
Change In Control Agreement, dated January 2002, between the Corporation and Executive, which agreement is hereby terminated and of no further force or effect. 
  

 - 8 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first above written.

  

			
	ACTUANT CORPORATION
		
	By:	 	 /s/ Robert C. Arzbaecher

			
	 Printed Name:
	 	 Robert C. Arzbaecher

			
	 Title:
	 	 President and Chief Executive Officer

			
		
	By:	 	 /s/ Mark E. Goldstein

	 	 	 Mark E. Goldstein

  

 - 9 -

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