Document:

Exhibit

Exhibit 10.9.3

EXECUTION VERSION

THIRD AMENDMENT TO CREDIT AGREEMENT
This THIRD AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of November 14, 2017 is entered into by and among OAKTREE CAPITAL MANAGEMENT, L.P., a Delaware limited partnership, OAKTREE CAPITAL II, L.P., a Delaware limited partnership, OAKTREE AIF INVESTMENTS, L.P., a Delaware limited partnership, OAKTREE CAPITAL I, L.P., a Delaware limited partnership (each a “Borrower” and collectively, the “Borrowers”); the Required Lenders (as defined in the Credit Agreement referred to below); and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).  Capitalized terms used and not otherwise defined in this Amendment shall have the same meanings in this Amendment as set forth in the Credit Agreement defined below.
WHEREAS, the above mentioned parties have previously entered into that certain Credit Agreement, dated as of March 31, 2014 (as amended by that certain First Amendment to Credit Agreement, dated as of November 3, 2014 and that certain Second Amendment to Credit Agreement, dated as of March 31, 2016 and in effect immediately prior to the Third Amendment Effective Date (as defined below), the “Credit Agreement”).
WHEREAS, the Borrowers have requested an amendment to the Credit Agreement as set forth below, and the Administrative Agent and the Required Lenders, on the terms and subject to the conditions set forth herein, have agreed to so amend the Credit Agreement.
NOW, THEREFORE, in consideration of the foregoing, the mutual covenants and agreements set forth below and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereby agree, except as otherwise set forth herein, as of the Third Amendment Effective Date as follows:
SECTION 1.Amendments. On the terms of this Amendment and subject to the satisfaction of the conditions precedent set forth in Section 2 below, the Credit Agreement is hereby amended as follows:

(a)Hedging Agreements.  Section 6.2 of the Credit Agreement is hereby amended by (1) deleting the “and” at the end of clause (h), (2) renumbering clause (i) (and all references thereto in the Credit Agreement) as clause (j) and (3) adding thereto a new clause (i) as follows:

“(i)    Liens securing obligations under Hedging Agreements permitted pursuant to Section 6.1(n); and”.

SECTION 2.Conditions Precedent to the Effectiveness of this Amendment.  The provisions of Section 1 above are conditioned upon, and such provisions shall not be effective until, satisfaction of the following conditions (the first date on which all of the following conditions have been satisfied being referred to herein as the “Third Amendment Effective Date”):

(a)The Administrative Agent shall have received, on behalf of the Lenders, this Amendment, duly executed and delivered by the Borrowers, the Required Lenders and the Administrative Agent.

(b)No Default or Event of Default shall have occurred and be continuing.

(c)The representations and warranties set forth in this Amendment shall be true and correct as of the Third Amendment Effective Date.

(d)The Borrowers shall have paid all fees and expenses payable to the Administrative Agent and the Lenders to be paid on or prior to the Third Amendment Effective Date (including all fees and expenses of counsel to the Administrative Agent invoiced prior to the Third Amendment Effective Date).  

SECTION 3.Representations and Warranties.  In order to induce the Administrative Agent and the Required Lenders to enter into this Amendment and to amend the Credit Agreement in the manner provided in this Amendment, the Borrowers represent and warrant to the Administrative Agent and each Lender as follows:

(a)Power and Authority.  Each Borrower has all requisite power and authority to enter into this Amendment and to carry out the transactions contemplated by, and perform its 

obligations under, the Credit Agreement as amended by this Amendment (hereafter referred to as the “Amended Credit Agreement”).

(b)Authorization of Agreements.  The execution and delivery of this Amendment by the Borrowers and the performance of the Amended Credit Agreement by the Borrowers have been duly authorized by all necessary action, and this Amendment has been duly executed and delivered by the Borrower.

(c)Enforceability.  Each of this Amendment and the Amended Credit Agreement constitutes the legal, valid and binding obligation of the Borrowers, enforceable against the Borrowers in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors’ rights generally and general principles of equity.

(d)No Conflict.  The execution and delivery by the Borrowers of this Amendment and the performance by the Borrowers of each of this Amendment and the Amended Credit Agreement do not and will not (i) require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are in full force and effect, (ii) violate any applicable law or regulation other than violations which, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, (iii) violate the charter, by-laws, articles, limited liability company agreement, limited partnership agreement or other organizational documents of any Borrower or any Subsidiary or any order of any Governmental Authority, (iv) violate or result in a default under any indenture, agreement or other instrument binding upon any Borrower or any  Subsidiary or the assets of any Borrower or any Subsidiary other than violations or defaults which, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, (v) give rise to a right under any indenture, agreement or other instrument binding upon any Borrower or any Subsidiary or upon the assets of any Borrower or any Subsidiary to require any material payment to be made by any Borrower or any Subsidiary, and (vi) result in the creation or imposition of any Lien on any asset of any Borrower or any Subsidiary.

(e)Governmental Consents.  No authorization or approval or other action by, and no notice to or filing with, any governmental authority or regulatory body is required for the due execution, delivery and performance by the Borrowers of this Amendment.

(f)Representations and Warranties in the Credit Agreement.  The Borrowers confirm that the representations and warranties contained in Article III of the Credit Agreement are (before and after giving effect to this Amendment) true and correct in all material respects (or if qualified by materiality or Material Adverse Effect, in all respects) as of the Third Amendment Effective Date (except to the extent any such representation and warranty is expressly stated to have been made as of a specific date, in which case it shall be true and correct as of such specific date) and that no Default or Event of Default has occurred and is continuing; provided that the representations and warranties contained in Section 3.4(a) are made with respect to the financial statements as of and for the fiscal year ended December 31, 2016 furnished by the Borrowers pursuant to Section 5.1(a) of the Credit Agreement.

SECTION 4.Miscellaneous.

(a)Reference to and Effect on the Credit Agreement and the other Loan Documents.

(i)Except as specifically amended by this Amendment and the documents executed and delivered in connection herewith, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.

(ii)The execution and delivery of this Amendment and performance of the Amended Credit Agreement shall not, except as expressly provided herein, constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders under, the Credit Agreement or any of the other Loan Documents.

(iii)Upon the conditions precedent set forth herein being satisfied, this Amendment shall be construed as one with the Credit Agreement, and the Credit Agreement shall, where the context requires, be read and construed throughout so as to incorporate this Amendment.

(iv)If there is any conflict between the terms and provisions of this Amendment and the terms and provisions of the Credit Agreement or any other Loan Document, the terms and provisions of this Amendment shall govern.

(b)Expenses.  The Borrowers acknowledge that all reasonable costs and expenses of the Administrative Agent incurred in connection with this Amendment will be paid in accordance with Section 9.3 of the Credit Agreement.

(c)Headings.  Section and subsection headings in this Amendment are included for convenience of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect.

(d)Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.  Transmission by telecopier of an executed counterpart of this Amendment shall be deemed to constitute due and sufficient delivery of such counterpart.

(e)Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of New York without reference to conflicts of law rules other than Section 5-1401 of the General Obligations Law of the State of New York.

(f)Loan Document.  This Amendment is a Loan Document as defined in the Credit Agreement, and the provisions of the Credit Agreement generally applicable to Loan Documents are applicable hereto and incorporated herein by this reference.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the date first above written.  
OAKTREE CAPITAL MANAGEMENT, L.P.
By:  /s/ JayWintrob                                                   
		
	Name:
	Jay Wintrob

		
	Title:
	Chief Executive Officer

By:  /s/ Philip McDermott                                        
		
	Name:
	Philip McDermott

		
	Title:
	Vice President

OAKTREE CAPITAL II, L.P.
By:  /s/ JayWintrob                                                   
		
	Name:
	Jay Wintrob

		
	Title:
	Chief Executive Officer

By:  /s/ Philip McDermott                                        
		
	Name:
	Philip McDermott

		
	Title:
	Vice President

OAKTREE AIF INVESTMENTS, L.P.
By:  /s/ JayWintrob                                                   
		
	Name:
	Jay Wintrob

		
	Title:
	Chief Executive Officer

By:  /s/ Philip McDermott                                        
		
	Name:
	Philip McDermott

		
	Title:
	Vice President

OAKTREE CAPITAL I, L.P.
By:  /s/ JayWintrob                                                   
		
	Name:
	Jay Wintrob

		
	Title:
	Chief Executive Officer

By:  /s/ Philip McDermott                                        
		
	Name:
	Philip McDermott

		
	Title:
	Vice President

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, L/C Issuer, Swing Line Lender and a Lender

By:  /s/ Julie Yamauchi                                              
		
	Name:
	Julie Yamauchi

		
	Title:
	Senior Vice President

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

BANK OF AMERICA, N.A., as a Lender

By:  /s/ Ankit Mehta                                                  
		
	Name:
	Ankit Mehta

		
	Title:
	Associate

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

THE BANK OF NEW YORK MELLON, as a Lender

By:  /s/ James L. Behrmann                                       
		
	Name:
	James L. Behrmann

		
	Title:
	Managing Director

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

JPMORGAN CHASE BANK, N.A., as a Lender

By:  /s/ Michael E. Kusner                                        
		
	Name:
	Michael E. Kusner

		
	Title:
	Vice President

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender

By:  /s/ Edwin Soogrim                                             
		
	Name:
	Edwin Soogrim

		
	Title:
	Director

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

CITIBANK, N.A., as a Lender

By:  /s/ Erik Andersen                                             
		
	Name:
	Erik Andersen

		
	Title:
	Vice President

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender

By:  /s/ Doreen Barr                                                  
		
	Name:
	Doreen Barr

		
	Title:
	Authorized Signatory

By:  /s/ Andrew Griffin                                             
		
	Name:
	Andrew Griffin

		
	Title:
	Authorized Signatory

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

GOLDMAN SACHS BANK USA, as a Lender

By:  /s/ Chris Lam                                                     
		
	Name:
	Chris Lam

		
	Title:
	Authorized Signatory

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

MORGAN STANLEY BANK, N.A., as a Lender

By:  /s/ Harry Comninellis                                        
		
	Name:
	Harry Comninellis

		
	Title:
	Authorized Signatory

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

MUFG UNION BANK, N.A., as a Lender

By:  /s/ Oscar Cortez                                                 
		
	Name:
	Oscar Cortez

		
	Title:
	Director

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

BARCLAYS BANK PLC, as a Lender

By:  /s/ Richard Cunningham                                    
		
	Name:
	Richard Cunningham

		
	Title:
	Managing Director

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender

By:  /s/ Alice Neumann                                             
		
	Name:
	Alice Neumann

		
	Title:
	Managing Director

By:  /s/ Ming K. Chu                                                 
		
	Name:
	Ming K. Chu

		
	Title:
	Director

    

[Signature Page to Third Amendment to Credit Agreement - Oaktree]

U.S. BANK NATIONAL ASSOCIATION, as a Lender

By:  /s/ Michael F. Ugliarolo                                             
		
	Name:
	Michael F. Ugliarolo

		
	Title:
	Vice President

[Signature Page to Third Amendment to Credit Agreement - Oaktree]mtw-ex104_277.htm

Exhibit 10.4

 

INDEMNITY AGREEMENT

 

 

THIS INDEMNITY AGREEMENT (“Agreement”) is made and entered into as of this _______ day of ________, 2017, by and between The Manitowoc Company, Inc., a Wisconsin corporation (“Company”), and ____________________, an Officer of the Company and/or one of its subsidiaries (“Executive”).  Capitalized terms used in this Agreement and not otherwise defined in the text of this Agreement or in Paragraph 16 hereof, shall have the meaning ascribed to them in Section 180.0850 of the Statute.

 

 

R E C I T A L S:

 

A. The Statute provides Directors and Officers with certain more expanded rights to indemnification than previously provided by the Company.

 

B. Section 180.0858 of the Statute provides that Directors and Officers may be granted rights in addition to those provided in the Statute pursuant to a written agreement between a Director and Officer and the Company.

 

C. In order to conform the indemnification rights of the Directors and Officers with those set forth in the Statute and to otherwise provide the Executive with the most comprehensive personal liability protection presently allowed under Wisconsin law, the company has deemed it appropriate to enter into this Agreement with the Executive.

 

D. The Executive desires to continue to serve as a Officer of the Company and/or one more of its subsidiaries; provided, however, that the Executive is furnished with the personal liability protections set forth hereinafter.

 

A G R E E M E N T S:

 

In consideration of the promises, mutual covenants and agreements of the Company and the Executive contained in this Agreement and the mutual benefits to be derived therefrom, the Company and the Executive, intending to be legally bound, hereby covenant and agree as follows:

 

1.Agreement to Serve.  The Executive agrees to continue to serve the Company as a Officer of the Company and/or one or more of its subsidiaries in consideration of the personal liability protections granted by the Company to the Executive herein; provided, however, that nothing contained in this Agreement shall constitute a contract of employment between the Company and the Executive.

 

2.Mandatory Indemnification.  The Company shall indemnify the Executive, to the fullest extent permitted or required by the Statute, against all Liabilities incurred by the 

Executive in a Proceeding in which the Executive is a Party because the Executive is a Officer of the Company and/or one or more of its subsidiaries.

 

3.Procedural Requirements.  

 

	
 
	
(a)
	
If the Executive seeks indemnification under Paragraph 2, the Executive shall make a written request therefor to the Company.  Subject to Paragraph 3(b), within sixty days of the Company’s receipt of such request, the Company shall pay or reimburse the Executive for the entire amount of Liabilities incurred thereby in connection with the subject Proceeding (net of any Expenses previously advanced pursuant to Paragraph 5).

 

	
 
	
(b)
	
No indemnification shall be required to be paid by the Company pursuant to Paragraph 2 if, within such sixty-day period, (i) a Disinterested Quorum, by a majority vote thereof, determines that the Executive engaged in misconduct constituting a Breach of Duty; or (ii) a Disinterested Quorum cannot be obtained.

 

	
 
	
(c)
	
In either case of nonpayment pursuant to Paragraph 3(b), the Board shall immediately authorize by resolution that an Authority, as provided in Paragraph 4, determine whether the Executive’s conduct constituted a Breach of Duty and, therefore, whether indemnification should be denied hereunder.

 

	
 
	
(d)
	
(i) If the Board does not authorize an Authority to determine the Executive’s right to indemnification hereunder within such sixty-day period and/or (ii) if indemnification of the requested amount of Liabilities is paid by the Company, then it shall be conclusively presumed for all purposes that a Disinterested Quorum has affirmatively determined that the Executive did not engage in misconduct constituting a Breach of Duty and, in the case of subparagraph (i) above (but not subparagraph (ii)), indemnification by the company of the requested amount of Liability shall be paid to the Executive immediately.

 

4.Determination of Indemnification.

 

	
 
	
(a)
	
If the Board authorizes an Authority to determine the Executive’s right to indemnification pursuant to Paragraph 3, then the Executive shall have the absolute discretionary authority to select one of the following as such Authority:

 

	
 
	
(i)
	
An independent legal counsel; provided, that such counsel shall be mutually selected by the Executive and by a majority vote of a Disinterested Quorum or, if a Disinterested Quorum cannot be obtained, then by a majority vote of the Board;

 

	
 
	
(ii)
	
A panel of three arbitrators selected from the panels of arbitrators of the American Arbitration Association in Milwaukee, Wisconsin; provided, that (A) one arbitrator shall be selected by the Executive, the second arbitrator shall be selected by a majority vote of a Disinterested Quorum or, if a 

 

	
 
		
Disinterested Quorum cannot be obtained, then by a majority vote of the Board, and the third arbitrator shall be selected by the two previously selected arbitrators; and (B) in all other respects, such panel shall be governed by the American arbitration Association’s then existing Commercial Arbitration Rules; or

 

	
 
	
(iii)
	
A court pursuant to and in accordance with Section 180.0854 of the Statute.

 

	
 
	
(b)
	
In any such determination by the selected Authority there shall exist a rebuttable presumption that the Executive’s conduct did not constitute a Breach of Duty and that indemnification against the requested amount of Liabilities is required.  The burden of rebutting such a presumption by clear and convincing evidence shall be on the Company or such other party asserting that such indemnification should not be allowed.

 

	
 
	
(c)
	
The Authority shall make its determination within sixty days of being selected and shall submit a written opinion of its conclusion simultaneously to both the company and the Executive.

 

	
 
	
(d)
	
If the Authority determines that indemnification is required hereunder, the Company shall pay the entire requested amount of Liabilities (net of any Expenses previously advanced pursuant to Paragraph 5), including interest thereon at a reasonable rate, as determined by the Authority, within ten days of receipt of the Authority’s opinion, provided, that, if it is determined by the Authority that the Executive is entitled to indemnification as to some claims, issues or matters, but not as to other claims, issues or matters, involved in the subject Proceeding, the Company shall be required to pay (as set forth above) only the amount of such requested Liabilities as the Authority shall deem appropriate in light of all of the circumstances of such Proceeding.

 

	
 
	
(e)
	
The determination by the Authority that indemnification of the Executive is required hereunder shall be binding upon the Company regardless of any prior determination that the Executive engaged in a Breach of Duty.

 

	
 
	
(f)
	
All Expenses incurred in the determination process under this Paragraph 4 by either the Company or the Executive, including, without limitation, all Expenses of the selected Authority, shall be paid by the Company.

 

	
 
	
5.
	
Mandatory Allowance of Expenses.

 

	
 
	
(a)
	
The Company shall pay or reimburse, within ten days after the receipt of the Executive’s written request therefore, the reasonable Expenses of the Executive as such Expenses are incurred; provided, the following conditions are satisfied:

 

 

	
 
	
(i)
	
The Executive furnishes to the Company an executed written certificate affirming the Executive’s good faith belief that the Executive has not engaged in misconduct which constitutes a Breach of Duty; and

 

	
 
	
(ii)
	
The Executive furnishes to the company an unsecured executed written agreement to repay any advances made under this Paragraph 5 if it is ultimately determined by an Authority that the Executive is not entitled to be indemnified by the Company for such Expenses pursuant to Paragraph 4.

 

	
 
	
(b)
	
If the Executive must repay any previously advanced Expenses pursuant to this Paragraph 5, the Executive shall not be required to pay interest on such amounts.

 

6.Insurance.  The Company may purchase and maintain insurance on behalf of the Executive against any Liability asserted against or incurred by the Executive because the Executive is a Officer of the Company and/or one or more of its subsidiaries, regardless of whether the Company is required or permitted to indemnify against Liabilities or allow Expenses to the Executive hereunder.

 

7.Notice to the Company.  The Executive shall promptly notify the Company in writing when the Executive has actual knowledge of a Proceeding which may result in a claim of indemnification or advancement of Expenses hereunder, but the failure to do so shall not relieve the Company of any liability to the Executive under this Agreement unless the Company shall have been irreparably prejudiced by such failure (as determined by an Authority selected pursuant to Paragraph 4(a)).

 

8.Severability. If any provision of this Agreement shall be deemed invalid or inoperative, or if a court of competent jurisdiction determines that any of the provisions of this Agreement contravene public policy, this Agreement shall be construed so that the remaining provisions shall not be affected, but shall remain in full force and effect, and any such provisions which are invalid or inoperative or which contravene public policy shall be deemed, without further action or deed by or on behalf of the Company or the Executive, to be modified, amended and/or limited, but only to the extent necessary to render the same valid and enforceable.

 

9.Nonexculsivity of Agreement.  The rights of the Executive granted hereunder shall not be deemed exclusive of any other rights to indemnification against Liabilities or to the allowance of Expenses to which the Executive may be entitled under any charter or bylaw provision, written agreement, Board resolution, vote of shareholders of the Company or otherwise, including, without limitation, under the Statue.

 

10.Continuation of Rights and Obligations.  The terms and provisions of this Agreement shall continue in full force and effect subsequent to the time when the Executive ceases to be a Officer of the Company and its subsidiaries.  All obligations of the Company to indemnify against Liabilities and allow Expenses to the Executive hereunder shall continue in full force and effect despite any subsequent amendment or modification of the Company’s Articles of Incorporation or bylaws and such obligations shall not be adversely affected or in any 

 

way limited by any such amendment or modification, any Board resolution, vote of shareholders of the Company or by any other corporate action, other than as set forth herein.

 

 

 

11.Assignment; Amendment.  

 

	
 
	
(a)
	
This Agreement shall not be assigned by the company or the Executive without the written consent of the other and any attempt at assignment without such written consent shall be null and void; provided, however, that the Company may freely assign its obligations under this Agreement to any Affiliate for whom the Executive is serving as an Officer thereof, but such assignment shall not release the Company from its obligations hereunder.

 

	
 
	
(b)
	
Except as set forth in Paragraph 8, this Agreement may only be amended, modified or supplemented by the written agreement of the Company and Executive.

 

12.Governing Law.  This Agreement shall be construed and interpreted according to the internal laws of the State of Wisconsin.

 

13.Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

14.Headings.  The headings used in this Agreement are inserted for convenience only and shall not constitute a part of this Agreement.

 

15.Notices.  All notices, requests, demands and other communications required or permitted hereunder shall be in writing and shall be deemed to have been duly given when delivered by hand or when mailed by United States certified or registered mail with postage prepaid addressed as follows:

 

	
 
	
(a)
	
If to the Executive, to the address set forth by the Executive on the signature page of this Agreement or to such other person or address which the Executive shall furnish to the Company in writing pursuant to the above.

 

	
 
	
(b)
	
If to the Company, to the attention of the General Counsel and Secretary at the address set forth on the signature page of this Agreement or to such other person or address as the Company shall furnish to the Executive in writing pursuant to the above.

 

16.Certain Definitions.  The following terms (including any plural forms thereof) as used in this Agreement shall be defined as follows:

 

 

	
 
	
(a)
	
“Affiliate” shall include, without limitation, any corporation, partnership, joint venture, employee benefit plan, trust or other enterprise that directly or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the Company.

 

	
 
	
(b)
	
“Authority” shall mean the entity selected by the Executive to determine the Executive’s right to indemnification pursuant to Paragraph 4.

 

	
 
	
(c)
	
“Board” shall mean the entire then elected and serving board of directors of the Company, including all members thereof who are Parties to the subject Proceeding or any related Proceeding.

 

	
 
	
(d)
	
“Breach of Duty” shall mean the Executive breached or failed to perform the Executive’s duties to the Company and such breach of or failure to perform those duties is determined, in accordance with Paragraph 4, to constitute misconduct under Section 180.0851(2) (a) 1, 2, 3, or 4 of the Statute.

 

	
 
	
(e)
	
“Corporation,” as defined in the Statute and incorporated by reference into the definitions of certain of the capitalized terms used in this Agreement, shall mean the Company and the term “Company,” as previously defined herein, shall include, without limitation, any successor corporation or entity to the Company by way of merger, consolidation or acquisition of all or substantially all of the capital stock or assets of the Company.

 

	
 
	
(f)
	
“Director or Officer” shall have the meaning set forth in the Statute; provided, that, for purposes of this Agreement, it shall be conclusively presumed that if the Executive serves as a director, officer, partner, trustee, member of any governing or decision-making committee, employee or agent of an Affiliate, the Executive shall be so serving at the request of the Company.

 

	
 
	
(g)
	
“Disinterested Quorum” shall mean a quorum of the Board who are not Parties to the subject Proceeding or any related Proceeding.

 

	
 
	
(h)
	
“Party” shall have the meaning set forth in the Statute; provided, that, for purpose of this Agreement, the term “Party” shall also include the Executive if the Executive is or was a witness in a Proceeding at a time when the Executive has not otherwise been formally named as Party thereto.

 

	
 
	
(i)
	
“Proceeding” shall have the meaning set forth in the Statue; provided, that, for purposes of this Agreement, the term “Proceeding” shall also include all Proceedings (i) brought under (in whole or in part) the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, their respective state counterparts, and/or any rule or regulation promulgated under any of the foregoing; (ii) brought before an Authority or otherwise to enforce rights hereunder; (iii) any appeal from a Proceeding; and (iv) any Proceeding in which the Executive is a plaintiff or petitioner because the Executive is a Director or 

 

	
 
		
Officer; provided, however, that any such Proceeding under this clause (v) must be authorized by a majority vote of a Disinterested Quorum.

 

 

 

	
 
	
(j)
	
“Statute” shall mean Sections 180.0850 through 180.0859, inclusive, of the Wisconsin Business Corporation Law, Chapter 180 of the Wisconsin Statutes, as the same shall then be in effect, including any amendments thereto, but, in the case of any such amendment, only to the extent such amendment permits or requires the Company provide broader indemnification rights than the Statute permitted or required the Company to provide prior to such amendment.

 

IN WITNESS WHEREOF, the Company and the Executive have caused this Agreement to be duly executed as of the day and year first above written.

 

THE MANITOWOC COMPANY, INC.

(“Company”)

2400 S. 44th Street

P.O. Box 66

Manitowoc, Wisconsin 54220

 

By:_______________________________

Barry Pennypacker

President and CEO

 

EXECUTIVE:

 

_______________________________

[Name]

 

_______________________________

Address

 

________________________________

City, State

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