Document:

EXECUTIVE
EMPLOYMENT AGREEMENT

 

THIS
EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of August 23, 2010, by and between Colfax
Corporation, a Delaware corporation (the “Company”), and A. Lynne Puckett (the “Executive”).

 

1.    
       Positions, Duties and Term. The Company hereby employs the Executive as its Senior
Vice President, General Counsel and Secretary and the Executive hereby accepts such employment, on the terms and conditions
set forth below.

 

1.1           Term.
The Executive’s employment hereunder shall be for a term commencing as of September 27, 2010 (the “Effective Date”)
and ending as of the earliest of (i) December 31, 2012 or such later date to which the term of this Agreement may be extended
pursuant to Subsection (a), (ii) the date that the Executive’s employment terminates pursuant to Subsections (c) or (d),
below, or (iii) the date of the Executive’s death.

 

(a)
Extension of Term. Unless the Executive’s employment with the Company terminates earlier in accordance with Subsections
(c) or (d), the parties pursuant to Subsection (b) elect not to extend the term, the term of this Agreement automatically shall
be extended as of December 31, 2012 and each December 31st thereafter, such that on each such date the term of employment
under this Agreement shall be for a one-year period. In addition, if a Change in Control shall occur during the term of the Executive’s
employment under this Agreement, this Agreement shall not expire prior to the second anniversary of the date of consummation of
the Change in Control, and the term of this Agreement shall automatically be extended to the second anniversary, as necessary,
to give effect to this provision as of such consummation date.

 

(b)
Election Not to Extend Term. The Executive or the Board of Directors of the Company (the “Board”), by
written notice delivered to the other, may at any time elect to terminate the automatic extension provision of Subsection (a).
Any such election may be made at any time until the ninety (90) days prior to the anniversary of the Effective Date as of which
the term would otherwise be extended for an additional one year. Furthermore, the parties agree that expiration of this Agreement
in accordance with the term end-date dictated by this Subsection (b) shall not in any event constitute termination by the Executive
for Good Reason or by the Company without Cause under this Agreement.

 

(c)
Early Termination. The Company may terminate the Executive’s employment with or without Cause or on account of Disability,
with written notice delivered to the Executive from Board. In the case of a termination by the Company for Cause, the Executive’s
termination shall be effective immediately upon giving notice. In the case of a termination without Cause or on account of Disability,
the termination shall be effective as stated in such notice, but not earlier than 60 days following the date of the notice.

 

    	 

    	 

    

 

(d)
Early Resignation. The Executive may resign from the Company for any reason, including Good Reason. Executive may effect
a Good Reason termination by providing at least 30 days’ written notice to the Board of the applicable Good Reason criteria
and her termination effective date; provided that the notice must be given within 90 days of the occurrence of the condition that
is the basis for such Good Reason; and further provided that if the basis for such Good Reason is correctible and the Company
corrects the basis for such Good Reason within 30 days after receipt of such notice, the Good Reason defect shall be cured and
Executive shall not then have the right to terminate her employment for Good Reason with respect to the occurrence addressed in
the written notice. In the case of a resignation other than for Good Reason, the termination shall be effective as stated in the
notice, but not earlier than 60 days following the date of the notice.

 

(e)
Termination and Offices Held. At the time Executive ceases to be an employee of the Company, the Executive agrees that
she shall resign from any office she holds with the Company and its subsidiaries and any affiliate, including any boards of directors.

 

1.2           Duties.
The Executive shall faithfully perform for the Company the duties incident to the office of Senior Vice President, General Counsel
and Secretary and shall perform such other duties of an executive, managerial or administrative nature as shall be specified and
designated from time to time by the Board. The Executive shall devote substantially all of the Executive’s business time
and effort to the performance of the Executive’s duties hereunder, provided that in no event shall this sentence prohibit
the Executive from performing personal and charitable activities and any other activities approved by the Board, so long as such
activities do not materially interfere with the Executive’s duties for the Company or create a conflict of interest or the
appearance of a conflict of interest.

 

2.     
     Compensation.

 

2.1           Salary.
During the term of her employment under this Agreement, the Company shall pay the Executive a base salary at an annual rate of
$300,000 (the “Base Salary”). The Base Salary shall be reviewed no less frequently than annually and may be
increased at the discretion of the Board or the Compensation Committee of the Board (the “Committee”), as applicable.
Except as otherwise agreed in writing by the Executive, the Base Salary shall not be reduced from the amount previously in effect.
The Base Salary shall be payable in equal biweekly installments or in such other installments as shall be consistent with the
Company’s payroll procedures.

 

2.2           Annual
Cash Incentive. During the term of her employment under this Agreement, the Executive shall be eligible to receive an annual
cash bonus based on performance objectives established by the Committee each year (the “Annual Cash Incentive”).
The Executive’s target Annual Cash Incentive amount will be the percentage of Base Salary designated as the target by the
Committee, which amount shall be at least 50% of the Base Salary then in effect for each applicable year. Notwithstanding the
preceding, Executive’s Annual Cash Incentive, if any, may be below (including zero), at, or above the target based upon
the achievement of the performance objectives.

 

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2.3           Benefits.
During the term of her employment under this Agreement, the Executive shall be permitted to participate in any group life, hospitalization
or disability insurance plans, health programs, pension and profit sharing plans, long-term incentive plans and similar benefits
that may be available to other senior executives of the Company generally, on the same terms as may be applicable to such other
executives, in each case to the extent that the Executive is eligible under the terms of such plans or programs.

 

2.4           Vacation.
During the term of her employment under this agreement, the Executive shall be entitled to vacation of twenty (20) working days
per year.

 

2.5           Expenses.
The Company shall pay or reimburse the Executive for all ordinary and reasonable out-of-pocket expenses actually incurred (and,
in the case of reimbursement, paid) by the Executive during the term the Executive’s employment under this Agreement, provided
that the Executive submits such expenses in accordance with the policies applicable to senior executives of the Company generally.

 

3.       
   Terminations Other than Without Cause or for Good Reason. In the event of the Executive’s
resignation other than for Good Reason, her termination of employment with the Company on account of death or Disability, or
her termination by the Company for Cause, all obligations of the Company under Sections 1 and 2 will immediately cease. In
connection with this resignation or termination, the Company will pay the Executive (or, in the case of the Executive’s
death, Executive’s beneficiary or, if none has been designated in accordance with Section 6.3, Executive’s
estate), the amount of the Executive’s Compensation Accrued at Termination, and the Executive’s rights, if any,
under any Company benefit plan or program shall be governed by such plan or program.

 

4.        
  Terminations Without Cause or for Good Reason. If during the term of her employment under this Agreement,
Executive is terminated by the Company without Cause (and not on account of Disability) or resigns from the Company for Good
Reason, all obligations of the Company under Sections 1 and 2 will immediately cease. In connection with this resignation or
termination, the Company will pay the Executive (or, in the case of the Executive’s death, Executive’s
beneficiary or, if none has been designated in accordance with Section 8.3, Executive’s estate), the amount of the
Executive’s Compensation Accrued at Termination, and the Executive’s rights, if any, under any Company benefit
plan or program shall be governed by such plan or program. In addition, in connection with a resignation or termination
described in this Section 4, and subject to the requirements of Section 4.3, the Executive shall be entitled to the benefits
described in Section 4.1 and, if applicable, Section 4.2, and, except to the extent provided under Section 10.7, the payments
shall be made, and the benefits shall be provided, upon employment termination or as soon as reasonably practicable
thereafter.

 

4.1          Severance
and Pro-Rata Bonus. The benefit under this Section 4.1 shall consist of the following:

 

		(i)	A single
                                                             sum severance payment in cash equal to the sum of: (x) one (1) times
                                                             the Executive’s Base Salary plus (y) one (1) times the Executive’s
                                                             target Annual Cash Incentive in effect for the year; provided, however,
                                                             that the Annual Cash Incentive component shall instead be the average
                                                             of the two highest actual Annual Cash Incentive payments made in
                                                             the three most recent performance periods, if this amount is greater
                                                             and the Executive has received two such payments; and provided, further,
                                                             that the multiplier under the provisions of (x) and (y) shall be
                                                             “two (2) times” in the event the applicable termination
                                                             of employment occurs within 3 months prior to a Change in Control
                                                             Event or within two (2) years after a Change in Control; and

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		(ii)	In lieu
                                                              of any annual cash incentive under Section 2.2 for the year in which
                                                              Executive’s employment terminates, a single sum cash payment
                                                              equal to the amount, if any, of the Partial Year Bonus (as defined
                                                              in Section 10.7); provided, however, that, other than in connection
                                                              with a Change in Control Event, no Partial Year Bonus shall be paid
                                                              unless the performance goals for the applicable year are achieved.

 

4.2          Change
in Control Termination Accelerated Vesting. If the resignation or termination under this Section 4 shall occur within 3 months
prior to a Change in Control Event or two (2) years after a Change in Control, the following provisions shall apply:

 

		(i)	All equity
                                                             or equity based awards held by Executive at termination of employment,
                                                             including but not limited to, stock options, restricted stock and
                                                             restricted stock units, and which time-vest based on service shall
                                                             become vested and non-forfeitable, and all other terms of such awards
                                                             shall be governed by the plans and programs and the agreements and
                                                             other documents pursuant to which such options were granted; and

 

		(ii)	Any performance
                                                              objectives upon which the earning of performance-based restricted
                                                              stock, restricted stock units, and other equity or equity-based
                                                              awards and other long-term incentive awards (including cash awards,)
                                                              is conditioned shall be deemed to have been met at the greater of
                                                              (A) target level at the date of termination, or (B) actual performance
                                                              at the date of termination, and such amounts shall become fully
                                                              vested and non-forfeitable as a result of termination of employment
                                                              at the date of such termination, and, in other respects, such awards
                                                              shall be governed by the plans and programs and the agreements and
                                                              other documents pursuant to which such awards were granted.

 

4.3          Waiver
and Release Agreement. The Executive agrees to execute at the time of Executive’s termination of employment a Waiver
and Release Agreement in a form provided to the Executive by the Company (the “Waiver and Release Agreement”),
within three (3) days of termination, consistent with the form attached hereto as Exhibit A, the terms and conditions of
which are specifically incorporated herein by reference. The execution and delivery of the Waiver and Release Agreement
shall be made within 45 days of delivery to the Executive of the Waiver and Release Agreement and the Company shall make payment
of all lump sums due within ten (10) days after the Waiver and Release Agreement is no longer revocable by Executive. If the Waiver
and Release Agreement is not executed with in the 45 day period post-delivery, the Executive will forfeit all severance payments
to be provided pursuant to Section 4.1.

 

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5.        
  Golden Parachute Excise Tax Provisions. In the event it is determined that any payment or benefit
(within the meaning of Section 280G(B)(2) of the Internal Revenue Code of 1986, as amended (the “Code”)),
to the Executive or for his or her benefit paid or payable or distributed to or distributable pursuant to the terms of this
Agreement or otherwise in connection with, or arising out of, his or her employment (“Payments”), would be
subject to the excise tax imposed by Section 4999 of 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 total Payments shall be reduced to the extent the payment of
such amounts would cause the Executive’s total termination benefits to constitute an “excess” parachute
payment under Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and by reason of
such excess parachute payment the Executive would be subject to an excise tax under Section 4999(a) of the Code, but only if
the Executive (or the Executive’s tax advisor) determines that the after-tax value of the termination benefits
calculated with the foregoing restriction exceed those calculated without the foregoing restriction. In that event, then the
Executive shall designate those rights, payments, or benefits under this Agreement, any other agreements, and any benefit
arrangements that should be reduced or eliminated so as to avoid having the payment or benefit to the Executive under this
Agreement be deemed to be a parachute payment; provided, however, that in order to comply with Section 409A, the reduction or
elimination will be performed in the order in which each dollar of value subject to a right, payment of benefit reduces
the parachute payment to the greatest extent. Except as otherwise expressly provided herein, all determinations under this
Section 5 shall be made at the expense of the Company by a nationally recognized public accounting or consulting firm
selected by the Company and subject to the approval of Executive, which approval shall not be unreasonably withheld. Such
determination shall be binding upon Executive and the Company.

 

5.1           Company
Withholding. Notwithstanding anything contained in this Agreement to the contrary, in the event that, according to the Determination,
an Excise Tax will be imposed on any Payment or Payments, the Company shall pay to the applicable government taxing authorities
as Excise Tax withholding, the amount of the Excise Tax that the Company has actually withheld from the Payment or Payments.

 

6.        
   Confidentiality; Non-Competition and Non-Disclosure; Executive Cooperation;
Non-Disparagement.

 

6.1           Confidential
Information. The Executive acknowledges that, during the course of her employment with the Company, the Executive may receive
special training and/or may be given access to or may become acquainted with Confidential Information (as hereinafter defined)
of the Company. As used in this Section 6.1, “Confidential Information” of the Company means all trade practices,
business plans, price lists, supplier lists, customer lists, marketing plans, financial information, software and all other compilations
of information which relate to the business of the Company, or to any of its subsidiaries, and which have not been disclosed by
the Company to the public, or which are not otherwise generally available to the public.

 

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The
Executive acknowledges that the Confidential Information of the Company, as such may exist from time to time, are valuable, confidential,
special and unique assets of the Company and its subsidiaries, expensive to produce and maintain and essential for the profitable
operation of their respective businesses. The Executive agrees that, during the course of her employment with the Company, or
at any time thereafter, she shall not, directly or indirectly, communicate, disclose or divulge to any Person (as such term is
hereinafter defined), or use for her benefit or the benefit of any Person, in any manner, any Confidential Information of the
Company or its subsidiaries acquired during her employment with the Company or any other confidential information concerning the
conduct and details of the businesses of the Company and its subsidiaries, except as required in the course of her employment
with the Company or as otherwise may be required by law. For purposes if this Agreement, “Person” shall mean
any individual, partnership, corporation, trust, unincorporated association, joint venture, limited liability company or other
entity or any government, governmental agency or political subdivision.

 

All
documents relating to the businesses of the Company and its affiliates including, without limitation, Confidential Information
of the Company, whether prepared by the Executive or otherwise coming into the Executive's possession, are the exclusive property
of the Company and such respective subsidiaries, and must not be removed from the premises of the Company, except as required
in the course of the Executive's employment with the Company. The Executive shall return all such documents (including any copies
thereof) to the Company when the Executive ceases to be employed by the Company or upon the earlier request of the Company or
the Board.

 

6.2           Noncompetition.
During the term of this Agreement (including any extensions thereof) and for a period of one year following the termination of
the Executive's employment under this Agreement for any reason, the Executive shall not, except with the Company's express prior
written consent, for the benefit of any entity or person (including the Executive) compete with the Business (as hereinafter defined)
within the Territory. For purposes of this Agreement, “Business” shall mean a company involved in the manufacture
and sale of pumps, valves or fluid handling systems of the kind that are produced by the Company or that are competitive with
the pumps, valves or fluid handling systems that are produced by the Company. For purposes of this Agreement, “Territory”
shall mean those locations in the United States of America in which the Company is operating.

 

6.3           Non-Solicitation.
During the term of this Agreement (including any extension thereof) and for a period of two (2) years following the termination
of the Executive’s termination under this Agreement for any reason, the Executive shall not, except with the Company’s
express prior written consent, for the benefit of any entity or person (including the Executive) solicit, induce or encourage
any employee of the Company, or any of its subsidiaries, to leave the employment of the Company or solicit, induce or encourage
any customer, or client of the Company, or any of its subsidiaries, to cease or reduce its business with the Company or its subsidiaries.

 

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6.4           Cooperation
With Regard to Litigation.     Executive agrees to cooperate with the Company, during the term and
thereafter (including following Executive’s termination of employment for any reason), by making himself available to testify
on behalf of the Company or any subsidiary or affiliate of the Company, in any action, suit, or proceeding, whether civil, criminal,
administrative, or investigative, and to assist the Company, or any subsidiary or affiliate of the Company, in any such action,
suit, or proceeding, by providing information and meeting and consulting with the Board or its representatives or counsel, or
representatives or counsel to the Company, or any subsidiary or affiliate of the Company, as may be reasonably requested and after
taking into account Executive’s post-termination responsibilities and obligations. The Company agrees to reimburse Executive,
on an after-tax basis, for all reasonable expenses actually incurred in connection with her provision of testimony or assistance.

 

6.5           Non-Disparagement.
Executive shall not, at any time during the Term and thereafter make statements or representations, or otherwise communicate,
directly or indirectly, in writing, orally, or otherwise, or take any action which may, directly or indirectly, disparage or be
damaging to the Company, its subsidiaries or affiliates or their respective officers, directors, employees, advisors, businesses
or reputations, nor shall members of the Board of Directors or Executive’s successor in office make any such statements
or representations regarding Executive. Notwithstanding the foregoing, nothing in this Agreement shall preclude Executive or her
successor or members of the Board of Directors from making truthful statements that are required by applicable law, regulation
or legal process.

 

6.6           Survival.
The provisions of this Section 6 shall survive the termination of the Term and any termination or expiration of this Agreement.

 

6.7           Remedies.
Executive agrees that any breach of the terms of this Section 6 would result in irreparable injury and damage to the Company for
which the Company would have no adequate remedy at law; Executive therefore also agrees that in the event of said breach or any
threat of breach and notwithstanding Section 7 the Company shall be entitled to an immediate injunction and restraining order
from a court of competent jurisdiction to prevent such breach and/or threatened breach and/or continued breach by Executive and/or
any and all persons and/or entities acting for and/or with Executive, without having to prove damages. The availability of injunctive
relief shall be in addition to any other remedies to which the Company may be entitled at law or in equity, but remedies other
than injunctive relief may only be pursued in an arbitration brought in accordance with Section 7. The terms of this paragraph
shall not prevent the Company from pursuing in an arbitration any other available remedies for any breach or threatened breach
of this Section 6, including but not limited to the recovery of damages from Executive. Executive hereby further agrees that,
if it is ever determined, in an arbitration brought in accordance with Section 7, that willful actions by Executive have constituted
wrongdoing that contributed to any material misstatement or omission from any report or statement filed by the Company with the
U.S. Securities and Exchange Commission or material fraud against the Company, then the Company, or its successor, as appropriate,
may recover all of any award or payment made to Executive, less the amount of any net tax owed by Executive with respect to such
award or payment over the tax benefit to Executive from the repayment or return of the award or payment, pursuant to Section 5.1,
and Executive agrees to repay and return such awards and amounts to the Company within 30 calendar days of receiving notice from
the Company that the Board has made the determination referenced above and accordingly the Company is demanding repayment pursuant
to this Section 6.7. The Company or its successor may, in its sole discretion, affect any such recovery by (i) obtaining repayment
directly from Executive; (ii) setting off the amount owed to it against any amount or award that would otherwise be payable by
the Company to Executive; or (iii) any combination of (i) and (ii) above.

 

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7.     
     Governing Law; Disputes; Arbitration.

 

7.1           Governing
Law. This Agreement is governed by and is to be construed, administered, and enforced in accordance with the laws of the State
of Maryland, without regard to conflicts of law principles. If under the governing law, any portion of this Agreement is at any
time deemed to be in conflict with any applicable statute, rule, regulation, ordinance, or other principle of law, such portion
shall be deemed to be modified or altered to the extent necessary to conform thereto or, if that is not possible, to be omitted
from this Agreement. The invalidity of any such portion shall not affect the force, effect, and validity of the remaining portion
hereof. If any court determines that any provision of Section 7 is unenforceable because of the duration or geographic scope of
such provision, it is the parties’ intent that such court shall have the power to modify the duration or geographic scope
of such provision, as the case may be, to the extent necessary to render the provision enforceable and, in its modified form,
such provision shall be enforced.

 

7.2           Arbitration.
Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration in the
City of Washington, D.C. by three arbitrators in accordance with the National Rules for the Resolution of Employment Disputes
of the American Arbitration Association in effect at the time of submission to arbitration. Judgment may be entered on the arbitrators’
award in any court having jurisdiction. For purposes of entering any judgment upon an award rendered by the arbitrators, the Company
and Executive hereby consent to the jurisdiction of any or all of the following courts: (i) the United States District Court for
the Fourth Circuit, (ii) any of the courts of the State of Maryland, or (iii) any other court having jurisdiction. The Company
and Executive further agree that any service of process or notice requirements in any such proceeding shall be satisfied if the
rules of such court relating thereto have been substantially satisfied. The Company and Executive hereby waive, to the fullest
extent permitted by applicable law, any objection which it may now or hereafter have to such jurisdiction and any defense of inconvenient
forum. The Company and Executive hereby agree that a judgment upon an award rendered by the arbitrators may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by law. Each party shall bear its or her costs and expenses
arising in connection with any arbitration proceeding pursuant to this Section 7. Notwithstanding any provision in this Section
7, Executive shall be paid compensation due and owing under this Agreement during the pendency of any dispute or controversy arising
under or in connection with this Agreement.

 

7.3           WAIVER
OF JURY TRIAL. TO THE EXTENT APPLICABLE, EACH OF THE PARTIES TO THIS AGREEMENT HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS
TO A JURY TRIAL FOR ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY DEALINGS BETWEEN THEM RELATING
TO THE SUBJECT MATTER OF THIS AGREEMENT. This provision is subject to Section 7.2, requiring arbitration of disputes hereunder.

 

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8.     
     Miscellaneous.

 

8.1           Integration.
This Agreement cancels and supersedes any and all prior agreements and understandings between the parties hereto with respect
to the employment of Executive by the Company, any parent or predecessor company, and the Company’s subsidiaries during
the Term, but excluding existing contracts relating to compensation under executive compensation and employee benefit plans of
the Company and its subsidiaries. This Agreement constitutes the entire agreement among the parties with respect to the matters
herein provided, and no modification or waiver of any provision hereof shall be effective unless in writing and signed by the
parties hereto. Executive shall not be entitled to any payment or benefit under this Agreement which duplicates a payment or benefit
received or receivable by Executive under such prior agreements and understandings or under any benefit or compensation plan of
the Company.

 

8.2           Successors;
Transferability. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise, and whether or not the corporate existence of the Company continues) to all or substantially all of the business and/or
assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company”
shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and
agrees to perform this Agreement by operation of law, or otherwise and, in the case of an acquisition of the Company in which
the corporate existence of the Company continues, the ultimate parent company following such acquisition. Subject to the foregoing,
the Company may transfer and assign this Agreement and the Company’s rights and obligations hereunder to another entity
that is substantially comparable to the Company in its financial strength and ability to perform the Company’s obligations
under this Agreement. Neither this Agreement nor the rights or obligations hereunder of the parties hereto shall be transferable
or assignable by Executive, except in accordance with the laws of descent and distribution or as specified in Section 8.3.

 

8.3           Beneficiaries.
Executive shall be entitled to designate (and change, to the extent permitted under applicable law) a beneficiary or beneficiaries
to receive any compensation or benefits provided hereunder following Executive’s death.

 

8.4           Notices.
Whenever under this Agreement it becomes necessary to give notice, such notice shall be in writing, signed by the party or parties
giving or making the same, and shall be served on the person or persons for whom it is intended or who should be advised or notified,
by Federal Express or other similar overnight service or by certified or registered mail, return receipt requested, postage prepaid
and addressed to such party at the address set forth below or at such other address as may be designated by such party by like
notice:

  

If to the Company:

 

Colfax Corporation

Attn:
Steven W. Weidenmuller

Senior
Vice President, Human Resources

8730
Stony Point Parkway, Suite 150

Richmond,
VA 23235

 

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With a copy to:

 

Michael Silver

Hogan Lovells

555 13th Street
NW

Washington, D.C. 20004

 

If to Executive:

 

A. Lynne Puckett

[REDACTED]

 

If the parties
by mutual agreement supply each other with fax numbers for the purposes of providing notice by facsimile, such notice shall also
be proper notice under this Agreement. In the case of Federal Express or other similar overnight service, such notice or advice
shall be effective when sent, and, in the cases of certified or registered mail, shall be effective two days after deposit into
the mails by delivery to the U.S. Post Office.

 

8.5           Reformation.
The invalidity of any portion of this Agreement shall not be deemed to render the remainder of this Agreement invalid.

 

8.6           Headings.
The headings of this Agreement are for convenience of reference only and do not constitute a part hereof.

 

8.7           No
General Waivers. The failure of any party at any time to require performance by any other party of any provision hereof or
to resort to any remedy provided herein or at law or in equity shall in no way affect the right of such party to require such
performance or to resort to such remedy at any time thereafter, nor shall the waiver by any party of a breach of any of the provisions
hereof be deemed to be a waiver of any subsequent breach of such provisions. No such waiver shall be effective unless in writing
and signed by the party against whom such waiver is sought to be enforced.

 

8.8           Offsets;
Withholding. The amounts required to be paid by the Company to Executive pursuant to this Agreement shall not be subject to
offset other than with respect to any amounts that are owed to the Company by Executive due to her receipt of funds as a result
of her fraudulent activity. The foregoing and other provisions of this Agreement notwithstanding, all payments to be made to Executive
under this Agreement, including under Sections 4 and 5, or otherwise by the Company, will be subject to withholding to satisfy
required withholding taxes and other required deductions.

 

8.9           Successors
and Assigns. This Agreement shall be binding upon and shall inure to the benefit of Executive, her heirs, executors, administrators
and beneficiaries, and shall be binding upon and inure to the benefit of the Company and its successors and assigns.

 

8.10         Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed to be an original but all of which together will
constitute one and the same instrument.

 

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8.11         Representations
of Executive. Executive represents and warrants to the Company that she has the legal right to enter into this Agreement and
to perform all of the obligations on her part to be performed hereunder in accordance with its terms and that she is not a party
to any agreement or understanding, written or oral, which prevents her from entering into this Agreement or performing all of
her obligations hereunder.

 

9.      
    D&O Insurance.

 

The
Company will maintain directors’ and officers’ liability insurance during the Term and for a period of six years thereafter,
covering acts and omissions of Executive during the Term, on terms substantially no less favorable than those in effect on the
Effective Date.

 

10.         Definitions
Relating to Termination Events.

 

10.1        Cause.
For purposes of this Agreement, “Cause” shall mean Executive’s:

 

		(i)	Conviction
                                                             for commission of a felony or a crime involving moral turpitude;

 

		(ii)	Willful
                                                              commission of any act of theft, fraud, embezzlement or misappropriation
                                                              against the Company or its subsidiaries or affiliates; or

 

		(iii)	Continued
                                                               failure to substantially perform Executive’s duties hereunder
                                                               (other than such failure resulting from Executive’s incapacity
                                                               due to physical or mental illness), which failure is not remedied
                                                               within 30 calendar days after written demand for substantial performance
                                                               is delivered by the Company which specifically identifies the manner
                                                               in which the Company believes that Executive has not substantially
                                                               performed Executive’s duties.

 

10.2        Change
in Control. For purposes of this Agreement, a “Change in Control” means the following:

 

		(i)	A transaction
                                                             or series of transactions (other than an offering of Stock to the
                                                             general public through a registration statement filed with the Securities
                                                             and Exchange Commission) whereby any “person” or related
                                                             “group” of “persons” (as such terms are used
                                                             in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of
                                                             1934, as amended (the “Exchange Act”)) (other
                                                             than the Company, any of its subsidiaries, an employee benefit plan
                                                             maintained by the Company or any of its subsidiaries or a “person”
                                                             that, prior to such transaction or on the Effective Date, directly
                                                             or indirectly controls, is controlled by, or is under common control
                                                             with, the Company) directly or indirectly acquires beneficial ownership
                                                             (within the meaning of Rule 13d-3 under the Exchange Act) of securities
                                                             of the Company and immediately after such acquisition possesses more
                                                             than 50% of the total combined voting power of the Company’s
                                                             securities outstanding immediately after such acquisition; or

 

    	11

    	 

    

 

		(ii)	During
                                                              any period of two consecutive years, individuals who, at the beginning
                                                              of such period, constitute the Board together with any new director(s)
                                                              (other than a director designated by a person who shall have entered
                                                              into an agreement with the Company to effect a transaction described
                                                              in Section 10.2(i) hereof or Section 10.2(iii) hereof) whose election
                                                              by the Board or nomination for election by the Company’s stockholders
                                                              was approved by a vote of at least two-thirds of the directors then
                                                              still in office who either were directors at the beginning of the
                                                              two-year period or whose election or nomination for election was
                                                              previously so approved, cease for any reason to constitute a majority
                                                              thereof; or

 

		(iii)	The
                                                               consummation by the Company (whether directly involving the Company
                                                               or indirectly involving the Company through one or more intermediaries)
                                                               of (x) a merger, consolidation, reorganization, or business combination
                                                               or (y) a sale or other disposition of all or substantially all
                                                               of the Company’s assets in any single transaction or series
                                                               of related transactions or (z) the acquisition of assets or stock
                                                               of another entity, in each case other than a transaction:

 

		(A)	Which
                                                             results in the Company’s voting securities outstanding immediately
                                                             before the transaction continuing to represent (either by remaining
                                                             outstanding or by being converted into voting securities of the Company
                                                             or the person that, as a result of the transaction, controls, directly
                                                             or indirectly, the Company or owns, directly or indirectly, all or
                                                             substantially all of the Company’s assets or otherwise succeeds
                                                             to the business of the Company (the Company or such person, the “Successor
                                                             Entity”)) directly or indirectly, at least a majority of
                                                             the combined voting power of the Successor Entity’s outstanding
                                                             voting securities immediately after the transaction; and

 

		(B)	After
                                                             which no person or group (as such terms are used in Sections 13(d)
                                                             and 14(d)(2) of the Exchange Act) beneficially owns (within the meaning
                                                             of Rule 13d-3 under the Exchange Act) voting securities representing
                                                             50% or more of the combined voting power of the Successor Entity;
                                                             provided, however, that no person or group shall be treated for purposes
                                                             of this Section 10.2(iii)(B) as beneficially owning 50% or more of
                                                             combined voting power of the Successor Entity solely as a result
                                                             of the voting power held in the Company prior to the consummation
                                                             of the transaction; or

 

		(iv)	The Company’s
                                                              stockholders approve a liquidation or dissolution of the Company
                                                              and all material contingencies to such liquidation or dissolution
                                                              have been satisfied or waived.

 

10.3        Change
in Control Event. For purposes of this Agreement, “Change in Control Event” means the earlier to occur
of (i) a Change in Control or (ii) the execution and delivery by the Company of a definitive agreement providing for a Change
in Control. 

 

    	12

    	 

    

 

10.4        Compensation
Accrued at Termination. For purposes of this Agreement, “Compensation Accrued at Termination” means the
following:

 

		(i)	The unpaid
                                                             portion of annual Base Salary at the rate payable, in accordance
                                                             with Section 2.1 hereof, at the date of Executive’s termination
                                                             of employment, pro rated through such date of termination, payable
                                                             in accordance with the Company’s regular pay schedule;

 

		(ii)	Except
                                                              as otherwise provided in this Agreement, all earned and unpaid and/or
                                                              vested, nonforfeitable amounts owing or accrued at the date of Executive’s
                                                              termination of employment under any compensation and benefit plans,
                                                              programs, and arrangements set forth or referred to in Sections
                                                              2.2 and 2.3 hereof (including any earned and vested Annual Cash
                                                              Incentive) in which Executive theretofore participated, payable
                                                              in accordance with the terms and conditions of the plans, programs,
                                                              and arrangements (and agreements and documents thereunder) pursuant
                                                              to which such compensation and benefits were granted or accrued;
                                                              and

 

		(iii)	Reasonable
                                                               business expenses and disbursements incurred by Executive prior
                                                               to Executive’s termination of employment, to be reimbursed
                                                               to Executive, as authorized under Section 2.5, in accordance the
                                                               Company’s reimbursement policies as in effect at the date
                                                               of such termination.

 

10.5        Disability.
For purposes of this Agreement, “Disability” means the Executive is unable due to a physical or mental condition
to perform the essential functions of his position with or without reasonable accommodation for six (6) months in the aggregate
during any twelve (12) month period or based on the written certification by two licensed physicians of the likely continuation
of such condition for such period. This definition shall be interpreted and applied consistent with the Americans with Disabilities
Act, the Family and Medical Leave Act, Section 409A of the Code and other applicable law.

 

10.6        Good
Reason. For purposes of this Agreement, “Good Reason” shall mean, without Executive’s express written
consent, the occurrence of any of the following circumstances unless, if correctable, such circumstances are fully corrected within
30 days of the notice of termination given in respect thereof:

 

		(i)	Upon or
                                                             following a Change in Control Event, (A) the assignment to Executive
                                                             of duties materially inconsistent with Executive’s position
                                                             and status hereunder, or (B) an alteration, materially adverse to
                                                             Executive, in the nature of Executive’s duties, responsibilities,
                                                             and authorities, Executive’s position or the conditions of
                                                             Executive’s employment from those specified in Section 1 or
                                                             otherwise hereunder (other than inadvertent actions which are promptly
                                                             remedied); except the foregoing shall not constitute Good Reason
                                                             if occurring (X) in connection with the termination of Executive’s
                                                             employment for Cause, Disability, or as a result of Executive’s
                                                             death, (Y) as a result of action by or with the consent of Executive
                                                             or (Z) as a result of reasonable adjustments in Executive's range
                                                             of duties, responsibilities and authorities in the event that the
                                                             Change of Control Event results in a significantly larger Successor
                                                             Entity and the Board of Directors of the Successor Entity concludes
                                                             that the Executive’s duties, responsibilities and authorities
                                                             need to be adjusted (to include a change in title or reporting to
                                                             another senior executive officer); provided, however, that such adjustments
                                                             do not reduce Executive’s compensation;

 

    	13

    	 

    

 

		(ii)	The Company
                                                              requiring Executive to relocate her principal place of business
                                                              for the Company to a location at least 35 miles from her current
                                                              place of business, and which is at least 35 miles longer distance
                                                              from her place of residence;

 

		(iii)	The
                                                                                                failure of the Company to obtain
                                                                                                a satisfactory agreement from
                                                                                                any successor to the Company to
                                                                                                fully assume the Company’s
                                                                                                obligations and to perform under
                                                                                                this Agreement; or

 

		(iv)	Any other failure by the Company
to perform any material obligation under, or breach by the Company of any material provision of, this Agreement.

 

10.7        Partial
Year Bonus. For purposes of this Agreement, a Partial Year Bonus is payable to the Executive for the year of the Executive’s
employment termination in the event the Company performance criteria for payment of an Annual Cash Incentive are achieved as of
the close of the year at the level required for a payout at the target level or above. Any such Partial Year Bonus shall equal
the Executive’s target Annual Cash Incentive compensation multiplied by a fraction of the numerator of which is the number
of days the Executive was employed by the Company in the year of termination and the denominator of which is the total number
of days in the year of termination. Should any such Partial Year Bonus become payable under this Agreement, payment shall be made
to the Executive at the same time as payment is made to all other participants under the Annual Cash incentive compensation program
following the close of the year.

 

IN
WITNESS WHEREOF, the parties hereto have signed their names as of the day and year first above written.

 

	 	COLFAX CORPORATION
	 	 	 
	 	By:	/s/ Steven W. Weidenmuller
	 	Name:	Steven W. Weidenmuller
	 	Title:	SVP- Human Resources
	 	 	 
	 	/s/ A. Lynne Puckett
	 	A. Lynne Puckett

 

    	14

    	 

    

 

EXHIBIT A

 

WAIVER AND
RELEASE AGREEMENT

 

THIS
WAIVER AND RELEASE AGREEMENT is entered into as of [TO BE DETERMINATED AT TERMINATION OF EMPLOYMENT] (the “Effective
Date”), by A. Lynne Puckett (the “Executive”) in consideration of the severance pay provided to the
Executive by Colfax Corporation (the “Company”) pursuant to the Executive Employment Agreement (the “Employment
Agreement”) by and between the Company and the Executive (the “Severance Payment”).

 

1.          Waiver
and Release. The Executive, on his or her own behalf and on behalf of his or her heirs, executors, administrators, attorneys
and assigns, hereby unconditionally and irrevocably releases, waives and forever discharges the Company and each of its affiliates,
parents, successors, predecessors, and the subsidiaries, directors, owners, members, shareholders, officers, agents, and employees
of the Company and its affiliates, parents, successors, predecessors, and subsidiaries (collectively, all of the foregoing are
referred to as the “Employer”), from any and all causes of action, claims and damages, including attorneys’
fees, whether known or unknown, foreseen or unforeseen, presently asserted or otherwise arising through the date of his or her
signing of the Waiver and Release Agreement, concerning his or her employment or separation from employment. This release includes,
but is not limited to, any claim or entitlement to salary, bonuses (but not including payment of any remaining bonus under the
Employment Agreement), any other payments, benefits or damages arising under any federal law (including, but not limited to, Title
VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Employee Retirement Income Security Act of
1974, the Americans with Disabilities Act, Executive Order 11246, the Family and Medical Leave Act, and the Worker Adjustment
and Retraining Notification Act, each as amended); any claim arising under any state or local laws, ordinances or regulations
(including, but not limited to, any state or local laws, ordinances or regulations requiring that advance notice be given of certain
workforce reductions); and any claim arising under any common law principle or public policy, including, but not limited to, all
suits in tort or contract, such as wrongful termination, defamation, emotional distress, invasion of privacy or loss of consortium.

 

The
Executive understands that by signing this Waiver and Release Agreement he or she is not waiving any claims or administrative
charges which cannot be waived by law. He or she is waiving, however, any right to monetary recovery or individual relief should
any federal, state or local agency (including the Equal Employment Opportunity Commission) pursue any claim on his or her behalf
arising out of or related to his or her employment with and/or separation from employment with the Company.

 

The
Executive further agrees without any reservation whatsoever, never to sue the Employer or become a party to a lawsuit on the basis
of any and all claims of any type lawfully and validly released in this Waiver and Release Agreement.

 

2.          Acknowledgments.
The Executive is signing this Waiver and Release Agreement knowingly and voluntarily. He or she acknowledges that:

 

		(a)	He or
                                                               she is hereby advised in writing to consult an attorney before
                                                               signing this Waiver and Release Agreement;

 

		(b)	He or
                                                               she has relied solely on his or her own judgment and/or that of
                                                               his or her attorney regarding the consideration for and the terms
                                                               of this Waiver and Release Agreement and is signing this Waiver
                                                               and Release Agreement knowingly and voluntarily of his or her own
                                                               free will;

 

    	 

    	 

    

 

		(c)	He or
                                                               she is not entitled to the Severance Payment unless he or she agrees
                                                               to and honors the terms of this Waiver and Release Agreement;

 

		(d)	He or
                                                               she has been given at least [twenty-one (21)] [forty-five (45)]
                                                               calendar days to consider this Waiver and Release Agreement,
                                                               or he or she expressly waives his or her right to have at least
                                                               [twenty-one (21)] [forty-five (45)] days to consider this
                                                               Waiver and Release Agreement;

 

		(e)	He or
                                                               she may revoke this Waiver and Release Agreement within seven (7)
                                                               calendar days after signing it by submitting a written notice of
                                                               revocation to the Employer. He or she further understands that
                                                               this Waiver and Release Agreement is not effective or enforceable
                                                               until after the seven (7) day period of revocation has expired
                                                               without revocation, and that if he or she revokes this Waiver and
                                                               Release Agreement within the seven (7) day revocation period, he
                                                               or she will not receive the Severance Payment;

 

		(f)	He or
                                                               she has read and understands the Waiver and Release Agreement and
                                                               further understands that it includes a general release of any and
                                                               all known and unknown, foreseen or unforeseen claims presently
                                                               asserted or otherwise arising through the date of his or her signing
                                                               of this Waiver and Release Agreement that he or she may have against
                                                               the Employer; and

 

		(g)	No statements
                                                               made or conduct by the Employer has in any way coerced or unduly
                                                               influenced him or her to execute this Waiver and Release Agreement.

 

3.          No
Admission of Liability. This Waiver and Release Agreement does not constitute an admission of liability or wrongdoing
on the part of the Employer, the Employer does not admit there has been any wrongdoing whatsoever against the Executive, and the
Employer expressly denies that any wrongdoing has occurred.

 

4.          Entire
Agreement. There are no other agreements of any nature between the Employer and the Executive with respect to the matters
discussed in this Waiver and Release Agreement, except as expressly stated herein, and in signing this Waiver and Release Agreement,
the Executive is not relying on any agreements or representations, except those expressly contained in this Waiver and Release
Agreement.

 

5.          Execution.
It is not necessary that the Employer sign this Waiver and Release Agreement following the Executive's full and complete execution
of it for it to become fully effective and enforceable.

 

6.          Severability.
If any provision of this Waiver and Release Agreement is found, held or deemed by a court of competent jurisdiction to be
void, unlawful or unenforceable under any applicable statute or controlling law, the remainder of this Waiver and Release Agreement
shall continue in full force and effect.

    	 

    	 

    

 

7.          Governing
Law. This Waiver and Release Agreement shall be governed by the laws of the State of Maryland, excluding the choice of
law rules thereof.

 

8.          Headings.
Section and subsection headings contained in this Waiver and Release Agreement are inserted for the convenience of reference
only. Section and subsection headings shall not be deemed to be a part of this Waiver and Release Agreement for any purpose, and
they shall not in any way define or affect the meaning, construction or scope of any of the provisions hereof.

 

IN
WITNESS WHEREOF, the undersigned has duly executed this Agreement as of the day and year first herein above written.

 

	 	 
	 	A. Lynne PuckettCOLFAX CORPORATION

 

2008 STOCK INCENTIVE PLAN

 

(AS AMENDED AND RESTATED APRIL 2, 2012)

 

Colfax Corporation, a Delaware corporation
(the “Company”), sets forth herein the terms of its 2008 Omnibus Incentive Plan, as amended and restated April 2, 2012
(the “Plan”), as follows:

 

		1.	PURPOSE

 

The Plan is intended to enhance the Company’s
and its Affiliates’ (as defined herein) ability to attract and retain highly qualified officers, directors, key employees,
and other persons, and to motivate such persons to serve the Company and its Affiliates and to expend maximum effort to improve
the business results and earnings of the Company, by providing to such persons an opportunity to acquire or increase a direct proprietary
interest in the operations and future success of the Company. To this end, the Plan provides for the grant of stock options, stock
appreciation rights, restricted stock, stock units, unrestricted stock, and dividend equivalent rights. Any of these awards may,
but need not, be made as performance incentives to reward attainment of annual or long-term performance goals in accordance with
the terms hereof. Stock options granted under the Plan may be non-qualified stock options or incentive stock options, as provided
herein, except that stock options granted to outside directors and any consultants or adviser providing services to the Company
or an Affiliate shall in all cases be non-qualified stock options.

 

		2.	DEFINITIONS

 

For purposes of interpreting the Plan and
related documents (including Award Agreements), the following definitions shall apply:

 

2.1         “Affiliate”
means, with respect to the Company, any company or other trade or business that controls, is controlled by or is under common control
with the Company within the meaning of Rule 405 of Regulation C under the Securities Act, including, without limitation, any Subsidiary.
For purposes of granting stock options or stock appreciation rights, an entity may not be considered an Affiliate if it results
in noncompliance with Code Section 409A.

 

2.2         “
Annual Incentive Award” means an Award made subject to attainment of performance goals (as described in Section 14)
over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

 

2.3         “Award”
means a grant of an Option, Stock Appreciation Right, Restricted Stock, Unrestricted Stock, Stock Unit, Dividend Equivalent Rights,
Performance Share, or Performance Unit under the Plan.

 

2.4         “Award
Agreement” means the written agreement between the Company and a Grantee that evidences and sets out the terms and conditions
of an Award.

 

2.5         “Benefit
Arrangement” shall have the meaning set forth in Section 15 hereof.

 

2.6         “Board”
means the Board of Directors of the Company.

 

2.7         “Cause”
means, as determined by the Board and unless otherwise provided in an applicable agreement with the Company: (i) gross negligence
or willful misconduct in connection with the performance of duties; (ii) conviction of a criminal offense (other than minor traffic
offenses); or (iii) material breach of any term of any employment, consulting or other services, confidentiality, intellectual
property or non-competition agreements, if any, between the Service Provider and the Company or any Subsidiary.

 

    	 

    	 

    

 

2.8         “Code”
means the Internal Revenue Code of 1986, as now in effect or as hereafter amended.

 

2.9         “Committee”
means a committee of, and designated from time to time by resolution of, the Board, which shall be constituted as provided
in Section 3. 

 

2.10       “Company”
means Colfax Corporation.

 

2.11       “Corporate
Transaction” means (i) the dissolution or liquidation of the Company or a merger, consolidation, or reorganization of
the Company with one or more other entities in which the Company is not the surviving entity, (ii) a sale of substantially all
of the assets of the Company to another person or entity, or (iii) any transaction (including without limitation a merger or reorganization
in which the Company is the surviving entity) which results in any person or entity (other than persons who are stockholders or
Affiliates immediately prior to the transaction) owning 50% or more of the combined voting power of all classes of stock of the
Company.

 

2.12       “Covered
Employee” means a Grantee who is a covered employee within the meaning of Section 162(m)(3) of the Code.

 

2.13       “Disability”
means the Grantee is unable to perform each of the essential duties of such Grantee’s position by reason of a medically determinable
physical or mental impairment which is potentially permanent in character or which can be expected to last for a continuous period
of not less than 12 months; provided, however, that, with respect to rules regarding expiration of an Incentive Stock Option following
termination of the Grantee’s Service, Disability shall mean the Grantee is unable to engage in any substantial gainful activity
by reason of a medically determinable physical or mental impairment which can be expected to result in death or which has lasted
or can be expected to last for a continuous period of not less than 12 months.

 

2.14       “Dividend
Equivalent Right” means a right, granted to a Grantee under Section 13 hereof, to receive cash, Stock, other
Awards or other property equal in value to dividends paid with respect to a specified number of shares of Stock, or other periodic
payments.

 

2.15       “Effective
Date” means April 21, 2008, the date the Plan was originally approved by the Board and the Company’s stockholders.
With respect to this amendment and restatement of the Plan, the Effective Date shall mean April 2, 2012, the date this amendment
and restatement of the Plan was approved by the Board. This amendment and restatement is subject to approval of the Plan by the
Company’s stockholders at the Company’s 2012 Annual Meeting.

 

2.16       “Exchange
Act” means the Securities Exchange Act of 1934, as now in effect or as hereafter amended.

 

2.17       “Fair
Market Value” means the value of a share of Stock, determined as follows: if on the Grant Date or other determination
date the Stock is listed on an established national or regional stock exchange, is admitted to quotation on The Nasdaq Stock Market,
Inc. or is publicly traded on an established securities market, the Fair Market Value of a share of Stock shall be the closing
price of the Stock on such exchange or in such market (if there is more than one such exchange or market the Board shall determine
the appropriate exchange or market) on the Grant Date or such other determination date (or if there is no such reported closing
price, the Fair Market Value shall be the average between the highest bid and lowest asked prices or between the high and low sale
prices on such trading day) or, if no sale of Stock is reported for such trading day, on the next preceding day on which any sale
shall have been reported. If the Stock is not listed on such an exchange, quoted on such system or traded on such a market, Fair
Market Value shall be the value of the Stock as determined by the Board in good faith in a manner consistent with Code Section
409A. In case of an Award for which the Grant Date is the IPO Effective Date, the Fair Market Value shall equal the offering price
of a share of Stock in the IPO.

 

    	 

    	 

    

 

2.18       “Family
Member” means a person who is a spouse, former spouse, child, stepchild, grandchild, parent, stepparent, grandparent,
niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother, sister, brother-in-law, or sister-in-law, including
adoptive relationships, of the Grantee, any person sharing the Grantee’s household (other than a tenant or employee), a
trust in which any one or more of these persons have more than fifty percent of the beneficial interest, a foundation in which
any one or more of these persons (or the Grantee) control the management of assets, and any other entity in which one or more
of these persons (or the Grantee) own more than fifty percent of the voting interests.

 

2.19       “Grant
Date” means, as determined by the Board, the latest to occur of (i) the date as of which the Board approves an
Award, (ii) the date on which the recipient of an Award first becomes eligible to receive an Award under Section 6
hereof, or (iii) such other date as may be specified by the Board.

 

2.20       “Grantee”
means a person who receives or holds an Award under the Plan.

 

2.21       “Incentive
Stock Option” means an “incentive stock option” within the meaning of Section 422 of the Code, or the corresponding
provision of any subsequently enacted tax statute, as amended from time to time.

 

2.22       “Initial
Public Offering” or “IPO” means the initial firm commitment underwritten registered public offering
by the Company of the Stock.

 

2.23       “IPO
Effective Date” means the date on which the Company and the underwriters for the IPO enter into a purchase agreement
establishing the price of the Stock to be sold in the IPO.

 

2.24       “Non-qualified
Stock Option” means an Option that is not an Incentive Stock Option.

 

2.25       “Option”
means an option to purchase one or more shares of Stock pursuant to the Plan.

 

2.26       “Option
Price” means the exercise price for each share of Stock subject to an Option.

 

2.27       “Other
Agreement” shall have the meaning set forth in Section 14 hereof.

 

2.28       “Outside
Director” means a member of the Board who is not an officer or employee of the Company.

 

2.29       “Performance
Award” means an Award made subject to the attainment of performance goals (as described in Section 14 and
Appendix A) over a performance period of up to ten (10) years.

 

2.30       “Performance-Based
Compensation” means compensation under an Award that is intended to satisfy the requirements of Code Section 162(m)
for certain performance-based compensation paid to Covered Employees. Notwithstanding the foregoing, nothing in this Plan shall
be construed to mean that an Award which does not satisfy the requirements for performance-based compensation under Code Section 162(m)
does not constitute performance-based compensation for other purposes, including Code Section 409A.

    	 

    	 

    

 

2.31       “Performance
Measures” means measures as described in Appendix A on which the performance goals are based and which
are approved by the Company’s shareholders pursuant to this Plan in order to qualify Awards as Performance-Based Compensation.

 

2.32       “Performance
Period” means the period of time during which the performance goals must be met in order to determine the degree of
payout and/or vesting with respect to an Award.

 

2.33       “Performance
Share” means an Award under Section 14 herein and subject to the terms of this Plan, denominated in Stock,
the value of which at the time it is payable is determined as a function of the extent to which corresponding performance criteria
have been achieved.

 

2.34       “Performance
Unit” means an Award under Section 14 herein and subject to the terms of this Plan, denominated in
Stock Units, the value of which at the time it is payable is determined as a function of the extent to which corresponding performance
criteria have been achieved.

 

2.35       “Plan”
means this Colfax Corporation 2008 Omnibus Incentive Plan, as amended and restated April 2, 2012.

 

2.36       “Purchase
Price” means the purchase price for each share of Stock pursuant to a grant of Restricted Stock or Unrestricted Stock.

 

2.37       “Reporting
Person” means a person who is required to file reports under Section 16(a) of the Exchange Act.

 

2.38       “Restricted
Stock” means shares of Stock, awarded to a Grantee pursuant to Section 10 hereof.

 

2.39       “SAR
Exercise Price” means the per share exercise price of an SAR granted to a Grantee under Section 9 hereof.

 

2.40       “Securities
Act” means the Securities Act of 1933, as now in effect or as hereafter amended.

 

2.41       “Service”
means service as a Service Provider to the Company or an Affiliate. Unless otherwise stated in the applicable Award Agreement,
a Grantee’s change in position or duties shall not result in interrupted or terminated Service, so long as such Grantee
continues to be a Service Provider to the Company or an Affiliate. Subject to the preceding sentence, whether a termination of
Service shall have occurred for purposes of the Plan shall be determined by the Board, which determination shall be final, binding
and conclusive.

 

2.42       “Service
Provider” means an employee, officer or director of the Company or an Affiliate, or a consultant or adviser (who is
a natural person) currently providing services to the Company or an Affiliate.

 

2.43       “Stock”
means the common stock, par value $0.001 per share, of the Company.

 

    	 

    	 

    

 

2.44       “Stock
Appreciation Right” or “SAR” means a right granted to a Grantee under Section 9 hereof.

 

2.45       “Stock
Unit” means a bookkeeping entry representing the equivalent of one share of Stock awarded to a Grantee pursuant to Section 10
hereof.

 

2.46       “Subsidiary”
means any “subsidiary corporation” of the Company within the meaning of Section 424(f) of the Code.

 

2.47       “Substitute
Awards” means Awards granted upon assumption of, or in substitution for, outstanding awards previously granted by a company
or other entity acquired by the Company or any Affiliate or with which the Company or any Affiliate combines.

 

2.48       “Ten
Percent Stockholder” means an individual who owns more than ten percent (10%) of the total combined voting power of all
classes of outstanding stock of the Company, its parent or any of its Subsidiaries. In determining stock ownership, the attribution
rules of Section 424(d) of the Code shall be applied.

 

2.49       “Unrestricted
Stock” means an Award pursuant to Section 11 hereof.

 

		3.	ADMINISTRATION OF THE PLAN

 

		3.1.	Board.

 

The Board shall have such powers and authorities
related to the administration of the Plan as are consistent with the Company’s certificate of incorporation and by-laws and
applicable law. The Board shall have full power and authority to take all actions and to make all determinations required or provided
for under the Plan, any Award or any Award Agreement, and shall have full power and authority to take all such other actions and
make all such other determinations not inconsistent with the specific terms and provisions of the Plan that the Board deems to
be necessary or appropriate to the administration of the Plan, any Award or any Award Agreement. All such actions and determinations
shall be by the affirmative vote of a majority of the members of the Board present at a meeting or by unanimous consent of the
Board executed in writing in accordance with the Company’s certificate of incorporation and by-laws and applicable law. The
interpretation and construction by the Board of any provision of the Plan, any Award or any Award Agreement shall be final, binding
and conclusive.

 

		3.2.	Committee.

 

The Board from time to time may delegate
to the Committee such powers and authorities related to the administration and implementation of the Plan, as set forth in Section 3.1
above and other applicable provisions, as the Board shall determine, consistent with the certificate of incorporation
and by-laws of the Company and applicable law.

 

(i)         Except
as provided in Subsection (ii) and except as the Board may otherwise determine, the Committee, if any, appointed by the Board to
administer the Plan shall consist of two or more Outside Directors of the Company who: (a) qualify as “outside directors”
within the meaning of Section 162(m) of the Code and who (b) meet such other requirements as may be established from time to time
by the Securities and Exchange Commission for plans intended to qualify for exemption under Rule 16b-3 (or its successor) under
the Exchange Act and who (c) comply with the independence requirements of the stock exchange on which the Common Stock is listed.

 

    	 

    	 

    

 

(ii)    The
Board may also appoint one or more separate committees of the Board, each composed of one or more directors of the Company who
need not be Outside Directors, who may administer the Plan with respect to employees or other Service Providers who are not officers
or directors of the Company, may grant Awards under the Plan to such employees or other Service Providers, and may determine all
terms of such Awards.

 

In the event that the Plan, any Award or any Award Agreement
entered into hereunder provides for any action to be taken by or determination to be made by the Board, such action may be taken
or such determination may be made by the Committee if the power and authority to do so has been delegated to the Committee by the
Board as provided for in this Section. Unless otherwise expressly determined by the Board, any such action or determination by
the Committee shall be final, binding and conclusive. To the extent permitted by law, the Committee may delegate its authority
under the Plan to a member of the Board.

 

		3.3.	Terms of Awards.

 

Subject to the other terms and conditions
of the Plan, the Board shall have full and final authority to:

 

(i)          designate
Grantees,

 

(ii)         determine
the type or types of Awards to be made to a Grantee,

 

(iii)        determine
the number of shares of Stock to be subject to an Award,

 

(iv)        establish
the terms and conditions of each Award (including, but not limited to, the exercise price of any Option, the nature and duration
of any restriction or condition (or provision for lapse thereof) relating to the vesting, exercise, transfer, or forfeiture of
an Award or the shares of Stock subject thereto, and any terms or conditions that may be necessary to qualify Options as Incentive
Stock Options),

 

(v)         prescribe
the form of each Award Agreement evidencing an Award, and

 

(vi)        amend,
modify, or supplement the terms of any outstanding Award. Such authority specifically includes the authority, in order to effectuate
the purposes of the Plan but without amending the Plan, to modify Awards to eligible individuals who are foreign nationals or are
individuals who are employed outside the United States to recognize differences in local law, tax policy, or custom. Notwithstanding
the foregoing, no amendment, modification or supplement of any Award shall, without the consent of the Grantee, impair the Grantee’s
rights under such Award.

 

The Company may retain the right in an Award
Agreement to cause a forfeiture of the gain realized by a Grantee on account of actions taken by the Grantee in violation or breach
of or in conflict with any employment agreement, non-competition agreement, any agreement prohibiting solicitation of employees
or clients of the Company or any Affiliate thereof or any confidentiality obligation with respect to the Company or any
Affiliate thereof or otherwise in competition with the Company or any Affiliate thereof, to the extent specified in such
Award Agreement applicable to the Grantee. Furthermore, the Company may annul an Award if the Grantee is an employee of the Company
or an Affiliate thereof and is terminated for Cause as defined in the applicable Award Agreement or the Plan, as applicable.

 

    	 

    	 

    

 

Except in connection
with a corporate transaction involving the Company (including, without limitation, any stock dividend, distribution (whether in
the form of cash, shares of Stock, other securities or other property), stock split, extraordinary cash dividend, recapitalization,
change in control, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of shares of
Stock or other securities or similar transaction), the Company may not, without obtaining stockholder approval: (a) amend
the terms of outstanding Options or SARs to reduce the Option Price or SAR Exercise Price of such outstanding Options or SARs;
(b) cancel outstanding Options or SARs in exchange for or substitution of Options or SARs with an Option Price or SAR Exercise
Price that is less than the Option Price or SAR Exercise Price of the original Options or SARs; or (c) cancel outstanding
Options or SARs with an Option Price or SAR Exercise Price above the current stock price in exchange for cash or other securities.

 

		3.4.	Deferral Arrangement. 

 

The Board may permit or require the deferral
of any award payment into a deferred compensation arrangement, subject to such rules and procedures as it may establish, which
may include provisions for the payment or crediting of interest or dividend equivalents, including converting such credits into
deferred Stock equivalents. Any such deferrals shall be made in a manner that complies with Code Section 409A.

 

		3.5.	No Liability.

 

No member of the Board or of the Committee
shall be liable for any action or determination made in good faith with respect to the Plan or any Award or Award Agreement.

 

		3.6.	Share Issuance/Book-Entry.

 

Notwithstanding any provision of this Plan
to the contrary, the issuance of the Stock under the Plan may be evidenced in such a manner as the Board, in its discretion, deems
appropriate, including, without limitation, book-entry registration or issuance of one or more Stock certificates.

 

		4.	STOCK SUBJECT TO THE PLAN

 

		4.1.	Number of Shares Available for Awards.

 

Subject to adjustment as provided in Section 17,
as of the Effective Date of the amendment and restatement of the Plan (the “Amendment Date”), the number of shares
of Stock available for issuance under the Plan shall be eight million eight hundred ninety eight
thousand nine hundred and sixty-four (8,904,838) Common Stock shares, which number consists of the two million nine hundred forty
eight thousand six hundred and ninety-four (2,954,838) Common Stock shares reserved under the Plan as of February 24, 2012, the
date immediately after the date on which the Company made the only grants in 2012 between January 1 and the Amendment Date, plus
five million nine hundred and fifty thousand (5,950,000) additional Common Stock shares added to the Plan by the Board pursuant
to this amendment and restatement. The aggregate number of shares of Stock reserved for issuance under this Plan shall be reduced
by shares of Stock covered by any Awards made after the Effective Date of this amendment and restatement and prior to the date
of the Company’s 2012 Annual Meeting of stockholders from the Stock reserved for issuance on the Amendment Date, and shall
be increased by Stock again made available under the Plan pursuant to Section 4.3. Shares available for issuance
under a stockholder-approved plan of a business entity that is a party to an acquisition, merger or other transaction in which
the Company acquires the business entity (as appropriately adjusted, if necessary, to reflect such transaction) may be used for
Awards under the Plan and shall not reduce the number of shares of Stock otherwise available for issuance under the Plan, subject
to applicable rules of any stock exchange on which the Stock is listed.

 

    	 

    	 

    

 

		4.2.	Adjustments in Authorized Shares.

 

The Board shall have the right to substitute
or assume Awards in connection with mergers, reorganizations, separations, or other transactions to which Section 424(a) of the
Code applies. The number of shares of Stock reserved pursuant to Section 4 shall be increased by the corresponding
number of Substitute Awards.

 

		4.3.	Share Usage.

 

Shares of Stock covered by an Award shall
be counted as used as of the Grant Date. If any shares of Stock covered by an Award are not purchased or are forfeited or expire,
or if an Award otherwise terminates without delivery of Stock subject thereto or is settled in cash in lieu of shares, then the
number of shares of Stock counted against the aggregate number of shares available under the Plan with respect to such Award shall,
to the extent of any such forfeiture, termination or expiration, again be available for making Awards under the Plan. Moreover,
if the Option Price of any Option granted under the Plan, or if pursuant to Section 18.3 the withholding obligation
of any Grantee with respect to an Option or other Award, is satisfied by tendering shares of Stock to the Company (by either actual
delivery or by attestation) or by withholding shares of Stock, such tendered or withheld shares of Stock will again be available
for issuance under the Plan. Furthermore, only the number of shares actually issued to settle an Award of SARs upon exercise will
be counted against the aggregate number of shares available for issuance under the Plan.

 

		5.	EFFECTIVE DATE, DURATION AND AMENDMENTS

 

		5.1.	Effective Date. 

 

Both the Board and the stockholders of the
Company approved the Plan on April 21, 2008, and Plan’s original Effective Date is April 21, 2008.

 

		5.2.	Term. 

 

The Plan shall terminate automatically
ten (10) years after its original adoption by the Board and may be terminated on any earlier date as provided in Section 5.3.

 

		5.3.	Amendment and Termination of the Plan.

 

The Board may, at any time and from time
to time, amend, suspend, or terminate the Plan as to any shares of Stock as to which Awards have not been made. An amendment shall
be contingent on approval of the Company’s stockholders to the extent stated by the Board, required by applicable law or
required by applicable stock exchange listing requirements. No Awards shall be made after termination of the Plan. No amendment,
suspension, or termination of the Plan shall, without the consent of the Grantee, impair rights or obligations under any Award
theretofore awarded under the Plan.

 

		6.	AWARD eligibility AND LIMITATIONS

 

		6.1.	Service Providers and Other Persons.

 

Subject to this Section 6,
Awards may be made under the Plan to: (i) any Service Provider to the Company or of any Affiliate, including any Service Provider
who is an officer or director of the Company, or of any Affiliate, as the Board shall determine and designate from time to time
and (ii) any other individual whose participation in the Plan is determined to be in the best interests of the Company by the
Board.

 

    	 

    	 

    

 

		6.2.	Successive Awards and Substitute Awards. 

 

An eligible person may receive more than
one Award, subject to such restrictions as are provided herein. Notwithstanding Sections 8.1 and 9.1,
the Option Price of an Option or the grant price of an SAR that is a Substitute Award may be less than 100% of the Fair Market
Value of a share of Common Stock on the original date of grant; provided, that the Option Price or grant price is determined in
accordance with the principles of Code Section 424 and the regulations thereunder.

 

		6.3.	Limitation on Shares of Stock Subject to Awards. 

 

During any time when the Company has a class
of equity security registered under Section 12 of the Exchange Act and the transition period under Treasury Reg. section 1.162-27(f)(2)
has lapsed or does not apply:

 

(i) the maximum number of shares of
Stock subject to Options or SARs that can be awarded under the Plan to any person eligible for an Award under Section 6 hereof
is one million (1,000,000) per calendar year; and

 

(ii) the maximum number of shares that
can be awarded under the Plan, other than pursuant to an Option or SARs, to any person eligible for an Award under Section 6
hereof is one million (1,000,000) per calendar year. 

 

The preceding limitations in this Section 6.3
are subject to adjustment as provided in Section 17 hereof.

 

		7.	AWARD AGREEMENT

 

Each Award granted pursuant to the Plan
shall be evidenced by an Award Agreement, in such form or forms as the Board shall from time to time determine. Award Agreements
granted from time to time or at the same time need not contain similar provisions but shall be consistent with the terms of the
Plan. Each Award Agreement evidencing an Award of Options shall specify whether such Options are intended to be Non-qualified Stock
Options or Incentive Stock Options, and in the absence of such specification such options shall be deemed Non-qualified Stock Options.

 

		8.	TERMS AND CONDITIONS OF OPTIONS

 

		8.1.	Option Price.

 

The Option Price of each Option shall be
fixed by the Board and stated in the Award Agreement evidencing such Option. The Option Price of each Option shall be at least
the Fair Market Value on the Grant Date of a share of Stock; provided, however, that in the event that a Grantee
is a Ten Percent Stockholder, the Option Price of an Option granted to such Grantee that is intended to be an Incentive Stock Option
shall be not less than 110 percent of the Fair Market Value of a share of Stock on the Grant Date. In no case shall the Option
Price of any Option be less than the par value of a share of Stock.

 

		8.2.	Vesting.

 

Subject to Sections 8.3 and 17.3
hereof, each Option granted under the Plan shall become exercisable at such times and under
such conditions (including conditions based on achievement of performance goals and/or future service requirements) as shall be
determined by the Board and stated in the Award Agreement. For purposes of this Section 8.2, fractional numbers
of shares of Stock subject to an Option shall be rounded down to the next nearest whole number.

 

    	 

    	 

    

 

		8.3.	Term. 

 

Each Option granted under the Plan shall
terminate, and all rights to purchase shares of Stock thereunder shall cease, upon the expiration of ten years from the date such
Option is granted, or under such circumstances and on such date prior thereto as is set forth in the Plan or as may be fixed by
the Board and stated in the Award Agreement relating to such Option; provided, however, that in the event that the
Grantee is a Ten Percent Stockholder, an Option granted to such Grantee that is intended to be an Incentive Stock Option shall
not be exercisable after the expiration of five years from its Grant Date.

 

		8.4.	Termination of Service. 

 

Each Award Agreement shall set forth the
extent to which the Grantee shall have the right to exercise the Option following termination of the Grantee’s Service. Such
provisions shall be determined in the sole discretion of the Board, need not be uniform among all Options issued pursuant to the
Plan, and may reflect distinctions based on the reasons for termination of Service.

 

		8.5.	Limitations on Exercise of Option. 

 

Notwithstanding any other provision of
the Plan, in no event may any Option be exercised, in whole or in part, prior to the date the Plan is approved by the stockholders
of the Company as provided herein or after the occurrence of an event referred to in Section 17 hereof which results
in termination of the Option.

 

		8.6.	Method of Exercise. 

 

An Option that is exercisable may be exercised
by the Grantee’s delivery to the Company of written notice of exercise on any business day, at the Company’s principal
office, on the form specified by the Company. Such notice shall specify the number of shares of Stock with respect to which the
Option is being exercised and shall be accompanied by payment in full of the Option Price of the shares for which the Option is
being exercised plus the amount (if any) of federal and/or other taxes which the Company may, in its judgment, be required to withhold
with respect to an Award. The minimum number of shares of Stock with respect to which an Option may be exercised, in whole or in
part, at any time shall be the lesser of (i) 100 shares or such lesser number set forth in the applicable Award Agreement and (ii) the
maximum number of shares available for purchase under the Option at the time of exercise.

 

		8.7.	Rights of Holders of Options.

 

Unless otherwise stated in the applicable
Award Agreement, an individual holding or exercising an Option shall have none of the rights of a stockholder (for example, the
right to receive cash or dividend payments or distributions attributable to the subject shares of Stock or to direct the voting
of the subject shares of Stock) until the shares of Stock covered thereby are fully paid and issued to him. Except as provided
in Section 17 hereof, no adjustment shall be made for dividends, distributions or other rights for which the record
date is prior to the date of such issuance.

 

		8.8.	Delivery of Stock Certificates. 

 

Promptly after the exercise of an Option
by a Grantee and the payment in full of the Option Price, such Grantee shall be entitled to the issuance of a stock certificate
or certificates evidencing his or her ownership of the shares of Stock subject to the Option.

 

		8.9.	Transferability of Options.

 

Except as provided in Section 8.10,
during the lifetime of a Grantee, only the Grantee (or, in the event of legal incapacity or incompetency, the Grantee’s
guardian or legal representative) may exercise an Option. Except as provided in Section 8.10, no Option shall be assignable
or transferable by the Grantee to whom it is granted, other than by will or the laws of descent and distribution.

 

    	 

    	 

    

 

		8.10.	Family Transfers. 

 

If authorized in the applicable Award Agreement,
a Grantee may transfer, not for value, all or part of an Option which is not an Incentive Stock Option to any Family Member. For
the purpose of this Section 8.10, a “not for value” transfer is a transfer which is (i) a gift, (ii) a
transfer under a domestic relations order in settlement of marital property rights; or (iii) a transfer to an entity in which
more than fifty percent of the voting interests are owned by Family Members (or the Grantee) in exchange for an interest in that
entity. Following a transfer under this Section 8.10, any such Option shall continue to be subject to the same terms
and conditions as were applicable immediately prior to transfer. Subsequent transfers of transferred Options are prohibited except
to Family Members of the original Grantee in accordance with this Section 8.10 or by will or the laws of descent and
distribution. The events of termination of Service of Section 8.4 hereof shall continue to be applied with respect
to the original Grantee, following which the Option shall be exercisable by the transferee only to the extent, and for the periods
specified, in Section 8.4.

 

		8.11.	Limitations on Incentive Stock Options. 

 

An Option shall constitute an Incentive
Stock Option only (i) if the Grantee of such Option is an employee of the Company or any Subsidiary of the Company; (ii) to the
extent specifically provided in the related Award Agreement; and (iii) to the extent that the aggregate Fair Market Value (determined
at the time the Option is granted) of the shares of Stock with respect to which all Incentive Stock Options held by such Grantee
become exercisable for the first time during any calendar year (under the Plan and all other plans of the Grantee’s employer
and its Affiliates) does not exceed $100,000. This limitation shall be applied by taking Options into account in the order in which
they were granted.

 

		8.12.	Notice of Disqualifying Disposition.

 

If any Grantee shall make any disposition
of shares of Stock issued pursuant to the exercise of an Incentive Stock Option under the circumstances described in Code Section 421(b)
(relating to certain disqualifying dispositions), such Grantee shall notify the Company of such disposition within ten (10) days
thereof.

 

		9.	TERMS AND CONDITIONS OF Stock Appreciation Rights

 

		9.1.	Right to Payment and Grant Price.

 

An SAR shall confer on the Grantee to whom
it is granted a right to receive, upon exercise thereof, the excess of (A) the Fair Market Value of one share of Stock on the date
of exercise over (B) the grant price of the SAR as determined by the Board. The Award Agreement for an SAR shall specify the grant
price of the SAR, which shall be at least the Fair Market Value of a share of Stock on the date of grant. SARs may be granted in
conjunction with all or part of an Option granted under the Plan or at any subsequent time during the term of such Option, in conjunction
with all or part of any other Award or without regard to any Option or other Award; provided that an SAR that is granted subsequent
to the Grant Date of a related Option must have an SAR Price that is no less than the Fair Market Value of one share of Stock on
the SAR Grant Date.

 

    	 

    	 

    

 

		9.2.	Other Terms. 

 

The Board shall determine at the date of
grant or thereafter, the time or times at which and the circumstances under which an SAR may be exercised in whole or in part (including
based on achievement of performance goals and/or future service requirements), the time or times at which SARs shall cease to be
or become exercisable following termination of Service or upon other conditions, the method of exercise, method of settlement,
form of consideration payable in settlement, method by or forms in which Stock will be delivered or deemed to be delivered to Grantees,
whether or not an SAR shall be in tandem or in combination with any other Award, and any other terms and conditions of any SAR.

 

		9.3.	Term. 

 

Each SAR granted under the Plan shall terminate,
and all rights thereunder shall cease, upon the expiration of ten years from the date such SAR is granted, or under such circumstances
and on such date prior thereto as is set forth in the Plan or as may be fixed by the Board and stated in the Award Agreement relating
to such SAR.

 

		9.4.	Transferability of SARS.

 

Except as provided in Section 9.5,
during the lifetime of a Grantee, only the Grantee (or, in the event of legal incapacity or incompetency, the Grantee’s
guardian or legal representative) may exercise a SAR. Except as provided in Section 9.5, no SAR shall be assignable
or transferable by the Grantee to whom it is granted, other than by will or the laws of descent and distribution.

 

		9.5.	Family Transfers. 

 

If authorized in the applicable Award
Agreement, a Grantee may transfer, not for value, all or part of a SAR to any Family Member. For the purpose of this Section 9.5,
a “not for value” transfer is a transfer which is (i) a gift, (ii) a transfer under a domestic relations order
in settlement of marital property rights; or (iii) a transfer to an entity in which more than fifty percent of the voting
interests are owned by Family Members (or the Grantee) in exchange for an interest in that entity. Following a transfer under
this Section 9.5, any such SAR shall continue to be subject to the same terms and conditions as were applicable
immediately prior to transfer. Subsequent transfers of transferred SARs are prohibited except to Family Members of the
original Grantee in accordance with this Section 9.5 or by will or the laws of descent and distribution.

 

		10.	TERMS AND CONDITIONS OF RESTRICTED STOCK and stock units

 

		10.1.	Grant of Restricted Stock or Stock Units. 

 

Awards of Restricted Stock or Stock Units
may be made for no consideration (other than par value of the shares which is deemed paid by Services already rendered).

 

		10.2.	Restrictions. 

 

At the time a grant of Restricted Stock
or Stock Units is made, the Board may, in its sole discretion, establish a period of time (a “restricted period”) applicable
to such Restricted Stock or Stock Units. Each Award of Restricted Stock or Stock Units may be subject to a different restricted
period. The Board may, in its sole discretion, at the time a grant of Restricted Stock or Stock Units is made, prescribe restrictions
in addition to or other than the expiration of the restricted period, including the satisfaction of corporate or individual performance
objectives, which may be applicable to all or any portion of the Restricted Stock or Stock Units as described in Article 14.
Neither Restricted Stock nor Stock Units may be sold, transferred, assigned, pledged or otherwise encumbered or disposed of during
the restricted period or prior to the satisfaction of any other restrictions prescribed by the Board with respect to such Restricted
Stock or Stock Units.

 

    	 

    	 

    

 

		10.3.	Restricted Stock Certificates. 

 

The Company shall issue, in the name of
each Grantee to whom Restricted Stock has been granted, stock certificates representing the total number of shares of Restricted
Stock granted to the Grantee, as soon as reasonably practicable after the Grant Date. The Board may provide in an Award Agreement
that either (i) the Secretary of the Company shall hold such certificates for the Grantee’s benefit until such time as the
Restricted Stock is forfeited to the Company or the restrictions lapse, or (ii) such certificates shall be delivered to the Grantee,
provided, however, that such certificates shall bear a legend or legends that comply with the applicable securities
laws and regulations and makes appropriate reference to the restrictions imposed under the Plan and the Award Agreement.

 

		10.4.	Rights of Holders of Restricted Stock. 

 

Unless the
Board otherwise provides in an Award Agreement, holders of Restricted Stock shall have the right to vote such Stock and the right
to receive any dividends declared or paid with respect to such Stock. The Board may provide that any dividends paid on Restricted
Stock must be reinvested in shares of Stock, which may or may not be subject to the same vesting conditions and restrictions applicable
to such Restricted Stock. Dividends paid on Restricted Stock which vests or is earned based upon the achievement of performance
goals shall not vest unless such performance goals for such Restricted Stock are achieved, and if such performance goals are not
achieved, the Grantee of such Restricted Stock shall promptly forfeit and repay to the Company such dividend payments. All
distributions, if any, received by a Grantee with respect to Restricted Stock as a result of any stock split, stock dividend, combination
of shares, or other similar transaction shall be subject to the restrictions applicable to the original Grant.

 

		10.5.	Rights of Holders of Stock Units. 

 

		10.5.1.	Voting and Dividend Rights.

 

Holders of Stock Units shall have no rights
as stockholders of the Company. The Board may provide in an Award Agreement evidencing a grant of Stock Units that the holder of
such Stock Units shall be entitled to receive, upon the Company’s payment of a cash dividend on its outstanding Stock, a
cash payment for each Stock Unit held equal to the per-share dividend paid on the Stock. Dividends paid on Stock Units which vests
or is earned based upon the achievement of performance goals shall not vest unless such performance goals for such Stock Units
are achieved, and if such performance goals are not achieved, the Grantee of such Stock Units shall promptly forfeit and repay
to the Company such dividend payments. Such Award Agreement may also provide that such cash payment will be deemed reinvested in
additional Stock Units at a price per unit equal to the Fair Market Value of a share of Stock on the date that such dividend is
paid.

 

		10.5.2.	Creditor’s Rights.

 

A holder of Stock Units shall have no rights
other than those of a general creditor of the Company. Stock Units represent an unfunded and unsecured obligation of the Company,
subject to the terms and conditions of the applicable Award Agreement.

 

		10.6.	Termination of Service. 

 

Unless the Board otherwise provides in an
Award Agreement or in writing after the Award Agreement is issued, upon the termination of a Grantee’s Service, any Restricted
Stock or Stock Units held by such Grantee that have not vested, or with respect to which all applicable restrictions and conditions
have not lapsed, shall immediately be deemed forfeited. Upon forfeiture of Restricted Stock or Stock Units, the Grantee shall have
no further rights with respect to such Award, including but not limited to any right to vote Restricted Stock or any right to receive
dividends with respect to shares of Restricted Stock or Stock Units.

 

    	 

    	 

    

 

		10.7.	Purchase of Restricted Stock.

 

The Grantee shall be required, to the
extent required by applicable law, to purchase the Restricted Stock from the Company at a Purchase Price equal to the greater
of (i) the aggregate par value of the shares of Stock represented by such Restricted Stock or (ii) the Purchase Price, if
any, specified in the Award Agreement relating to such Restricted Stock. The Purchase Price shall be payable in a form
described in Section 12 or, in the discretion of the Board, in consideration for past Services rendered to the
Company or an Affiliate.

 

		10.8.	Delivery of Stock. 

 

Upon the expiration or termination of any
restricted period and the satisfaction of any other conditions prescribed by the Board, the restrictions applicable to shares of
Restricted Stock or Stock Units settled in Stock shall lapse, and, unless otherwise provided in the Award Agreement, a stock certificate
for such shares shall be delivered, free of all such restrictions, to the Grantee or the Grantee’s beneficiary or estate,
as the case may be. Neither the Grantee, nor the Grantee’s beneficiary or estate, shall have any further rights with regard
to a Stock Unit once the share of Stock represented by the Stock Unit has been delivered.

 

		11.	TERMS AND CONDITIONS OF UNRESTRICTED STOCK AWARDS

 

The Board may, in its sole discretion, grant
(or sell at par value or such other higher purchase price determined by the Board) an Unrestricted Stock Award to any Grantee pursuant
to which such Grantee may receive shares of Stock free of any restrictions (“Unrestricted Stock”) under the Plan. Unrestricted
Stock Awards may be granted or sold as described in the preceding sentence in respect of past services and other valid consideration,
or in lieu of, or in addition to, any cash compensation due to such Grantee.

 

		12.	FORM OF PAYMENT FOR OPTIONS AND RESTRICTED STOCK

 

		12.1.	General Rule.

 

Payment of the Option Price for the shares
purchased pursuant to the exercise of an Option or the Purchase Price for Restricted Stock shall be made in cash or in cash equivalents
acceptable to the Company.

 

		12.2.	Surrender of Stock.

 

To the extent the Award Agreement so provides,
payment of the Option Price for shares purchased pursuant to the exercise of an Option or the Purchase Price for Restricted Stock
may be made all or in part through the tender to the Company of shares of Stock, which shall be valued, for purposes of determining
the extent to which the Option Price or Purchase Price has been paid thereby, at their Fair Market Value on the date of exercise
or surrender.

 

		12.3.	Cashless Exercise.

 

With respect to an Option only (and not
with respect to Restricted Stock), to the extent permitted by law and to the extent the Award Agreement so provides, payment of
the Option Price for shares purchased pursuant to the exercise of an Option may be made all or in part by delivery (on a form
acceptable to the Board) of an irrevocable direction to a licensed securities broker acceptable to the Company to sell shares
of Stock and to deliver all or part of the sales proceeds to the Company in payment of the Option Price and any withholding taxes
described in Section 18.3.

 

    	 

    	 

    

 

		12.4.	Other Forms of Payment.

 

To the extent the Award Agreement so provides,
payment of the Option Price for shares purchased pursuant to exercise of an Option or the Purchase Price for Restricted Stock may
be made in any other form that is consistent with applicable laws, regulations and rules.

 

		13.	TERMS AND CONDITIONS OF Dividend Equivalent RIGHTS

 

		13.1.	Dividend Equivalent Rights. 

 

A Dividend Equivalent Right is an Award
entitling the recipient to receive credits based on cash distributions that would have been paid on the shares of Stock specified
in the Dividend Equivalent Right (or other award to which it relates) if such shares had been issued to and held by the recipient.
A Dividend Equivalent Right may be granted hereunder to any Grantee, provided that no Dividend Equivalent Rights may be
granted in connection with, or related to, an Award of Options or SARs. The terms and conditions of Dividend Equivalent Rights
shall be specified in the grant. Dividend equivalents credited to the holder of a Dividend Equivalent Right may be paid currently
or at the end of any applicable vesting period, or may be deemed to be reinvested in additional shares of Stock, which may thereafter
accrue additional equivalents. Any such reinvestment shall be at Fair Market Value on the date of reinvestment. Dividend Equivalent
Rights may be settled in cash or Stock or a combination thereof, in a single installment or installments, all determined in the
sole discretion of the Board. A Dividend Equivalent Right granted as a component of another Award may provide that such Dividend
Equivalent Right shall be settled upon exercise, settlement, or payment of, or lapse of restrictions on, such other award, and
that such Dividend Equivalent Right shall expire or be forfeited or annulled under the same conditions as such other award. A Dividend
Equivalent Right granted as a component of another Award also may contain terms and conditions which are different from the terms
and conditions of such other Award, provided that Dividend Equivalent Rights credited pursuant to a Dividend Equivalent
Right granted as a component of another Award which vests or is earned based upon the achievement of performance goals shall not
vest unless such performance goals for such underlying Award are achieved, and if such performance goals are not achieved, the
Grantee of such Dividend Equivalent Rights shall promptly forfeit and repay to the Company payments made in connection with such
Dividend Equivalent Rights.

 

		13.2.	Termination of Service. 

 

Except as may otherwise be provided by the
Board either in the Award Agreement or in writing after the Award Agreement is issued, a Grantee’s rights in all Dividend
Equivalent Rights or interest equivalents shall automatically terminate upon the Grantee’s termination of Service for any
reason.

 

		14.	TERMS AND CONDITIONS OF Performance SHARES, PERFORMANCE UNITS, PERFORMANCE AWARDS
and Annual Incentive Awards

 

		14.1.	Grant of Performance Units/Performance Shares. 

 

Subject to the terms and provisions of this
Plan, the Board, at any time and from time to time, may grant Performance Units and/or Performance Shares to Participants in such
amounts and upon such terms as the Committee shall determine.

 

    	 

    	 

    

 

		14.2.	Value of Performance Units/Performance Shares. 

 

Each Award of Performance Units and Performance
Shares shall have a target or actual number of shares of Stock that is established by the Board at the time of grant. Each Performance
Share shall have an initial value equal to the Fair Market Value of a Share on the date of grant. The Board shall set performance
goals in its discretion which, depending on the extent to which they are met, will determine the value and/or number of Performance
Units/Performance Shares that will be paid out to the Participant.

 

		14.3.	Earning of Performance Units/Performance Shares. 

 

Subject to the terms of this Plan, after
the applicable Performance Period has ended, the holder of Performance Units/Performance Shares shall be entitled to receive payout
on the value and number of Performance Units/Performance Shares earned by the Participant over the Performance Period, to be determined
as a function of the extent to which the corresponding performance goals have been achieved.

 

		14.4.	Form and Timing of Payment of Performance Units/Performance Shares.  

 

Payment of earned
Performance Units/Performance Shares shall be as determined by the Board and as evidenced in the Award Agreement. Subject to the
terms of this Plan, the Board, in its sole discretion, may pay earned Performance Units/Performance Shares in the form of cash
or in shares (or in a combination thereof) equal to the value of the earned Performance Units/Performance Shares at the close of
the applicable Performance Period, or as soon as practicable after the end of the Performance Period. Any Shares may be granted
subject to any restrictions deemed appropriate by the Committee. The determination of the Committee with respect to the form of
payout of such Awards shall be set forth in the Award Agreement pertaining to the grant of the Award.

 

		14.5.	Performance Conditions.

 

The right of a Grantee to exercise or receive
a grant or settlement of any Award, and the timing thereof, may be subject to such performance conditions as may be specified by
the Board. The Board may use such business criteria and other measures of performance as it may deem appropriate in establishing
any performance conditions. If and to the extent required under Code Section 162(m), any power or authority relating to an Award
intended to qualify under Code Section 162(m), shall be exercised by the Committee and not the Board.

 

		14.6.	Performance Awards or Annual Incentive Awards Granted to Designated Covered Employees.

 

If and to the extent that the Board determines
that an Award to be granted to a Grantee who is designated by the Committee as likely to be a Covered Employee should qualify
as “performance-based compensation” for purposes of Code Section 162(m), the grant, exercise and/or settlement of
such Award shall be contingent upon achievement of pre-established performance goals and other terms set forth in this Section 14.6
and Appendix A.

 

		14.6.1.	Performance Goals Generally.

 

The performance goals for such Awards
shall consist of one or more business criteria and a targeted level or levels of performance with respect to each of such
criteria, as specified by the Committee consistent with this Section 14.6. and Appendix A. Performance
goals shall be objective and shall otherwise meet the requirements of Code Section 162(m) and regulations thereunder
including the requirement that the level or levels of performance targeted by the Committee result in the achievement of
performance goals being “substantially uncertain.” The Committee may determine that such Awards shall be granted,
exercised and/or settled upon achievement of any one performance goal or that two or more of the performance goals must be
achieved as a condition to grant, exercise and/or settlement of such Awards. Performance goals may differ for Awards granted
to any one Grantee or to different Grantees.
 

 

    	 

    	 

    

		14.6.2.	Timing For Establishing Performance Goals. 

 

Performance goals shall be established not
later than 90 days after the beginning of any performance period applicable to such Awards, or at such other date as may be required
or permitted for “performance-based compensation” under Code Section 162(m).

 

		14.6.3.	Settlement of Awards; Other Terms.

 

Settlement of such Awards shall be in cash,
Stock, other Awards or other property, in the discretion of the Committee. The Committee may, in its discretion, reduce the amount
of a settlement otherwise to be made in connection with such Awards. The Committee shall specify the circumstances in which such
Performance or Annual Incentive Awards shall be paid or forfeited in the event of termination of Service by the Grantee prior
to the end of a performance period or settlement of Awards. 

 

		14.6.4.	Performance Measures. 

 

The performance goals upon which the payment
or vesting of an Award to a Covered Employee that is intended to qualify as Performance-Based Compensation shall be limited to
the Performance Measures approved by the Company’s stockholders at the Company’s 2012 Annual Meeting or any later stockholders’
meeting, which Performance Measures are listed on Appendix A (which shall be updated from time to time to reflect the applicable
Performance Measures, if any, approved by the stockholders).

 

Any Performance
Measure(s) may be used to measure the performance of the Company, Subsidiary, and/or Affiliate as a whole or any business unit
of the Company, Subsidiary, and/or Affiliate or any combination thereof, as the Committee may deem appropriate, or any of the
Performance Measures listed on Appendix A as compared to the performance of a group of comparator companies, or published
or special index that the Committee, in its sole discretion, deems appropriate, or the Company may select share price, including
growth measures and total stockholder return as compared to various stock market indices. The Committee also has the authority
to provide for accelerated vesting of any Award based on the achievement of performance goals pursuant to the Performance Measures
specified in Appendix A. 

 

		14.6.5.	Evaluation of Performance. 

 

The Committee may
provide in any such Award that any evaluation of performance may include or exclude any of the following events that occur during
a Performance Period: (a) asset write-downs; (b) litigation or claim judgments or settlements; (c) the effect of
changes in tax laws, accounting principles, or other laws or provisions affecting reported results; (d) any reorganization
and restructuring programs; (e) extraordinary nonrecurring items as described in Accounting Principles Board Opinion No. 30
and/or in management’s discussion and analysis of financial condition and results of operations appearing in the Company’s
annual report to shareholders for the applicable year; (f) acquisitions or divestitures; and (g) foreign exchange gains
and losses. To the extent such inclusions or exclusions affect Awards to Covered Employees, they shall be prescribed in a form
that meets the requirements of Code Section 162(m) for deductibility.

 

    	 

    	 

    

  

		14.6.6.	Adjustment of Performance-Based Compensation.  

 

Awards that are
intended to qualify as Performance-Based Compensation may not be adjusted upward. The Board shall retain the discretion to adjust
such Awards downward, either on a formula or discretionary basis, or any combination as the Committee determines. 

 

		14.6.7.	Board Discretion.  

 

In the event that
applicable tax and/or securities laws change to permit Board discretion to alter the governing Performance Measures without obtaining
shareholder approval of such changes, the Board shall have sole discretion to make such changes without obtaining shareholder approval
provided the exercise of such discretion does not violate Code Section 409A. In addition, in the event that the Committee
determines that it is advisable to grant Awards that shall not qualify as Performance-Based Compensation, the Committee may make
such grants without satisfying the requirements of Code Section 162(m) and base vesting on Performance Measures other than
those set forth in Appendix A.

 

		14.7.	Status of Section Awards Under Code Section 162(m).

 

It is the intent of the Company that Awards
under Section 14.6 hereof granted to persons who are designated by the Committee as likely to be Covered Employees
within the meaning of Code Section 162(m) and regulations thereunder shall, if so designated by the Committee, constitute “qualified
performance-based compensation” within the meaning of Code Section 162(m) and regulations thereunder. Accordingly, the terms
of Section 14.6, including the definitions of Covered Employee and other terms used therein, shall be interpreted
in a manner consistent with Code Section 162(m) and regulations thereunder. The foregoing notwithstanding, because the Committee
cannot determine with certainty whether a given Grantee will be a Covered Employee with respect to a fiscal year that has not
yet been completed, the term Covered Employee as used herein shall mean only a person designated by the Committee, at the time
of grant of an Award, as likely to be a Covered Employee with respect to that fiscal year. If any provision of the Plan or any
agreement relating to such Awards does not comply or is inconsistent with the requirements of Code Section 162(m) or regulations
thereunder, such provision shall be construed or deemed amended to the extent necessary to conform to such requirements.

 

		15.	PARACHUTE LIMITATIONS

 

Notwithstanding any other provision of this
Plan or of any other agreement, contract, or understanding heretofore or hereafter entered into by a Grantee with the Company or
any Affiliate, except an agreement, contract, or understanding that expressly addresses Section 280G or Section 4999 of the
Code (an “Other Agreement”), and notwithstanding any formal or informal plan or other arrangement for the direct or
indirect provision of compensation to the Grantee (including groups or classes of Grantees or beneficiaries of which the Grantee
is a member), whether or not such compensation is deferred, is in cash, or is in the form of a benefit to or for the Grantee (a
“Benefit Arrangement”), if the Grantee is a “disqualified individual,” as defined in Section 280G(c)
of the Code, any Option, Restricted Stock, Stock Unit, Performance Share or Performance Unit held by that Grantee and any right
to receive any payment or other benefit under this Plan shall not become exercisable or vested (i) to the extent that such
right to exercise, vesting, payment, or benefit, taking into account all other rights, payments, or benefits to or for the Grantee
under this Plan, all Other Agreements, and all Benefit Arrangements, would cause any payment or benefit to the Grantee under this
Plan to be considered a “parachute payment” within the meaning of Section 280G(b)(2) of the Code as then in effect
(a “Parachute Payment”) and (ii) if, as a result of receiving a Parachute Payment, the aggregate after-tax
amounts received by the Grantee from the Company under this Plan, all Other Agreements, and all Benefit Arrangements would be less
than the maximum after-tax amount that could be received by the Grantee without causing any such payment or benefit to be considered
a Parachute Payment. In the event that the receipt of any such right to exercise, vesting, payment, or benefit under this Plan,
in conjunction with all other rights, payments, or benefits to or for the Grantee under any Other Agreement or any Benefit Arrangement
would cause the Grantee to be considered to have received a Parachute Payment under this Plan that would have the effect of decreasing
the after-tax amount received by the Grantee as described in clause (ii) of the preceding sentence, then the Grantee shall
have the right, in the Grantee’s sole discretion, to designate those rights, payments, or benefits under this Plan, any Other
Agreements, and any Benefit Arrangements that should be reduced or eliminated so as to avoid having the payment or benefit to the
Grantee under this Plan be deemed to be a Parachute Payment.

 

    	 

    	 

    

 

		16.	REQUIREMENTS OF LAW

 

		16.1.	General.

 

The Company shall not be required to sell
or issue any shares of Stock under any Award if the sale or issuance of such shares would constitute a violation by the Grantee,
any other individual exercising an Option, or the Company of any provision of any law or regulation of any governmental authority,
including without limitation any federal or state securities laws or regulations. If at any time the Company shall determine, in
its discretion, that the listing, registration or qualification of any shares subject to an Award upon any securities exchange
or under any governmental regulatory body is necessary or desirable as a condition of, or in connection with, the issuance or purchase
of shares hereunder, no shares of Stock may be issued or sold to the Grantee or any other individual exercising an Option pursuant
to such Award unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of
any conditions not acceptable to the Company, and any delay caused thereby shall in no way affect the date of termination of the
Award. Without limiting the generality of the foregoing, in connection with the Securities Act, upon the exercise of any Option
or any SAR that may be settled in shares of Stock or the delivery of any shares of Stock underlying an Award, unless a registration
statement under such Act is in effect with respect to the shares of Stock covered by such Award, the Company shall not be required
to sell or issue such shares unless the Board has received evidence satisfactory to it that the Grantee or any other individual
exercising an Option may acquire such shares pursuant to an exemption from registration under the Securities Act. Any determination
in this connection by the Board shall be final, binding, and conclusive. The Company may, but shall in no event be obligated to,
register any securities covered hereby pursuant to the Securities Act. The Company shall not be obligated to take any affirmative
action in order to cause the exercise of an Option or a SAR or the issuance of shares of Stock pursuant to the Plan to comply with
any law or regulation of any governmental authority. As to any jurisdiction that expressly imposes the requirement that an Option
(or SAR that may be settled in shares of Stock) shall not be exercisable until the shares of Stock covered by such Option (or SAR)
are registered or are exempt from registration, the exercise of such Option (or SAR) under circumstances in which the laws of such
jurisdiction apply shall be deemed conditioned upon the effectiveness of such registration or the availability of such an exemption.

 

		16.2.	Rule 16b-3. 

 

During any time when the Company has a class
of equity security registered under Section 12 of the Exchange Act, it is the intent of the Company that Awards pursuant to
the Plan and the exercise of Options and SARs granted hereunder will qualify for the exemption provided by Rule 16b-3 under the
Exchange Act. To the extent that any provision of the Plan or action by the Board does not comply with the requirements of Rule
16b-3, it shall be deemed inoperative to the extent permitted by law and deemed advisable by the Board, and shall not affect the
validity of the Plan. In the event that Rule 16b-3 is revised or replaced, the Board may exercise its discretion to modify this
Plan in any respect necessary to satisfy the requirements of, or to take advantage of any features of, the revised exemption or
its replacement.

 

    	 

    	 

    

  

		17.	EFFECT OF CHANGES IN CAPITALIZATION 

 

		17.1.	Changes in Stock. 

 

If the number of outstanding shares of Stock
is increased or decreased or the shares of Stock are changed into or exchanged for a different number or kind of shares or other
securities of the Company on account of any recapitalization, reclassification, stock split, reverse split, combination of shares,
exchange of shares, stock dividend or other distribution payable in capital stock, or other increase or decrease in such shares
effected without receipt of consideration by the Company occurring after the Effective Date, the number and kinds of shares for
which grants of Options and other Awards may be made under the Plan shall be adjusted proportionately and accordingly by the Company.
In addition, the number and kind of shares for which Awards are outstanding shall be adjusted proportionately and accordingly so
that the proportionate interest of the Grantee immediately following such event shall, to the extent practicable, be the same as
immediately before such event. Any such adjustment in outstanding Options or SARs shall not change the aggregate Option Price or
SAR Exercise Price payable with respect to shares that are subject to the unexercised portion of an outstanding Option or SAR,
as applicable, but shall include a corresponding proportionate adjustment in the Option Price or SAR Exercise Price per share.
The conversion of any convertible securities of the Company shall not be treated as an increase in shares effected without receipt
of consideration. Notwithstanding the foregoing, in the event of any distribution to the Company’s stockholders of securities
of any other entity or other assets (including an extraordinary dividend but excluding a non-extraordinary dividend of the Company)
without receipt of consideration by the Company, the Company shall, in such manner as the Company deems appropriate, adjust (i)
the number and kind of shares subject to outstanding Awards and/or (ii) the exercise price of outstanding Options and Stock Appreciation
Rights to reflect such distribution.

 

		17.2.	Reorganization in Which the Company Is the Surviving Entity Which does not Constitute a Corporate Transaction.

 

Subject to Section 17.3 hereof,
if the Company shall be the surviving entity in any reorganization, merger, or consolidation of the Company with one or more other
entities which does not constitute a Corporate Transaction, any Option or SAR theretofore granted pursuant to the Plan shall pertain
to and apply to the securities to which a holder of the number of shares of Stock subject to such Option or SAR would have been
entitled immediately following such reorganization, merger, or consolidation, with a corresponding proportionate adjustment of
the Option Price or SAR Exercise Price per share so that the aggregate Option Price or SAR Exercise Price thereafter shall be
the same as the aggregate Option Price or SAR Exercise Price of the shares remaining subject to the Option or SAR immediately
prior to such reorganization, merger, or consolidation. Subject to any contrary language in an Award Agreement evidencing an Award,
any restrictions applicable to such Award shall apply as well to any replacement shares received by the Grantee as a result of
the reorganization, merger or consolidation. In the event of a transaction described in this Section 17.2, Stock Units
shall be adjusted so as to apply to the securities that a holder of the number of shares of Stock subject to the Stock Units would
have been entitled to receive immediately following such transaction.

 

		17.3.	Corporate Transaction. 

 

Subject to the exceptions set forth in
the second to last sentence of this Section 17.3 and the last sentence of Section 17.4, upon the occurrence
of a Corporate Transaction:

 

(i) all outstanding shares
of Restricted Stock shall be deemed to have vested, and all Stock Units shall be deemed to have vested and the shares of Stock
subject thereto shall be delivered, immediately prior to the occurrence of such Corporate Transaction, and

 

    	 

    	 

    

 

(ii) either of the following
two actions shall be taken:

 

(A) fifteen days prior
to the scheduled consummation of a Corporate Transaction, all Options and SARs outstanding hereunder shall become immediately exercisable
and shall remain exercisable for a period of fifteen days, or

 

(B) the Board may elect,
in its sole discretion, to cancel any outstanding Awards of Options, Restricted Stock, Stock Units, and/or SARs and pay or deliver,
or cause to be paid or delivered, to the holder thereof an amount in cash or securities having a value (as determined by the Board
acting in good faith), in the case of Restricted Stock or Stock Units, equal to the formula or fixed price per share paid to holders
of shares of Stock and, in the case of Options or SARs, equal to the product of the number of shares of Stock subject to the Option
or SAR (the “Award Shares”) multiplied by the amount, if any, by which (I) the formula or fixed price per share paid
to holders of shares of Stock pursuant to such transaction exceeds (II) the Option Price or SAR Exercise Price applicable to such
Award Shares.

 

With respect to the Company’s establishment
of an exercise window, (i) any exercise of an Option or SAR during such fifteen-day period shall be conditioned upon the consummation
of the event and shall be effective only immediately before the consummation of the event, and (ii) upon consummation of any Corporate
Transaction, the Plan and all outstanding but unexercised Options and SARs shall terminate. The Board shall send written notice
of an event that will result in such a termination to all individuals who hold Options and SARs not later than the time at which
the Company gives notice thereof to its stockholders. This Section 17.3 shall not apply to any Corporate Transaction
to the extent that provision is made in writing in connection with such Corporate Transaction for the assumption or continuation
of the Options, SARs, Stock Units and Restricted Stock theretofore granted, or for the substitution for such Options, SARs, Stock
Units and Restricted Stock for new common stock options and stock appreciation rights and new common stock units and restricted
stock relating to the stock of a successor entity, or a parent or subsidiary thereof, with appropriate adjustments as to the number
of shares (disregarding any consideration that is not common stock) and option and stock appreciation right exercise prices, in
which event the Plan, Options, SARs, Stock Units and Restricted Stock theretofore granted shall continue in the manner and under
the terms so provided. In the event a Grantee’s Award is assumed, continued or substituted upon the consummation of any
Corporate Transaction and his employment is terminated without Cause within one year following the consummation of such Corporate
Transaction, the Grantee’s Award will be fully vested and may be exercised in full, to the extent applicable, beginning
on the date of such termination and for the one-year period immediately following such termination or for such longer period as
the Committee shall determine.

 

		17.4.	Adjustments. 

 

Adjustments under this Section 17
related to shares of Stock or securities of the Company shall be made by the Board, whose determination in that respect shall
be final, binding and conclusive. No fractional shares or other securities shall be issued pursuant to any such adjustment, and
any fractions resulting from any such adjustment shall be eliminated in each case by rounding downward to the nearest whole share.
The Board shall determine the effect of a Corporate Transaction upon Awards other than Options, SARs, Stock Units and Restricted
Stock, and such effect shall be set forth in the appropriate Award Agreement. The Board may provide in the Award Agreements at
the time of grant, or any time thereafter with the consent of the Grantee, for different provisions to apply to an Award in place
of those described in Sections 17.1, 17.2 and 17.3.

 

    	 

    	 

    

 

		17.5.	No Limitations on Company. 

 

The making of Awards pursuant to the Plan
shall not affect or limit in any way the right or power of the Company to make adjustments, reclassifications, reorganizations,
or changes of its capital or business structure or to merge, consolidate, dissolve, or liquidate, or to sell or transfer all or
any part of its business or assets.

 

		18.	general provisions

 

		18.1.	Disclaimer of Rights.

 

No provision in the Plan or in any Award
or Award Agreement shall be construed to confer upon any individual the right to remain in the employ or service of the Company
or any Affiliate, or to interfere in any way with any contractual or other right or authority of the Company either to increase
or decrease the compensation or other payments to any individual at any time, or to terminate any employment or other relationship
between any individual and the Company. In addition, notwithstanding anything contained in the Plan to the contrary, unless otherwise
stated in the applicable Award Agreement, no Award granted under the Plan shall be affected by any change of duties or position
of the Grantee, so long as such Grantee continues to be a director, officer, consultant or employee of the Company or an Affiliate.
The obligation of the Company to pay any benefits pursuant to this Plan shall be interpreted as a contractual obligation to pay
only those amounts described herein, in the manner and under the conditions prescribed herein. The Plan shall in no way be interpreted
to require the Company to transfer any amounts to a third party trustee or otherwise hold any amounts in trust or escrow for payment
to any Grantee or beneficiary under the terms of the Plan.

 

		18.2.	Nonexclusivity of the Plan.

 

Neither the adoption of the Plan nor the
submission of the Plan to the stockholders of the Company for approval shall be construed as creating any limitations upon the
right and authority of the Board to adopt such other incentive compensation arrangements (which arrangements may be applicable
either generally to a class or classes of individuals or specifically to a particular individual or particular individuals) as
the Board in its discretion determines desirable, including, without limitation, the granting of stock options otherwise than under
the Plan.

 

		18.3.	Withholding Taxes.

 

The Company or an Affiliate, as the case
may be, shall have the right to deduct from payments of any kind otherwise due to a Grantee any federal, state, or local taxes
of any kind required by law to be withheld with respect to the vesting of or other lapse of restrictions applicable to an Award
or upon the issuance of any shares of Stock upon the exercise of an Option or pursuant to an Award. At the time of such vesting,
lapse, or exercise, the Grantee shall pay to the Company or the Affiliate, as the case may be, any amount that the Company or
the Affiliate may reasonably determine to be necessary to satisfy such withholding obligation. Subject to the prior approval of
the Company or the Affiliate, which may be withheld by the Company or the Affiliate, as the case may be, in its sole discretion,
the Grantee may elect to satisfy such obligations, in whole or in part, (i) by causing the Company or the Affiliate to withhold
shares of Stock otherwise issuable to the Grantee or (ii) by delivering to the Company or the Affiliate shares of Stock already
owned by the Grantee. The shares of Stock so delivered or withheld shall have an aggregate Fair Market Value equal to such withholding
obligations. The Fair Market Value of the shares of Stock used to satisfy such withholding obligation shall be determined by the
Company or the Affiliate as of the date that the amount of tax to be withheld is to be determined. A Grantee who has made an election
pursuant to this Section 18.3 may satisfy his or her withholding obligation only with shares of Stock that are not
subject to any repurchase, forfeiture, unfulfilled vesting, or other similar requirements. The maximum
number of shares of Stock that may be withheld from any Award to satisfy any federal, state or local tax withholding requirements
upon the exercise, vesting, lapse of restrictions applicable to such Award or payment of shares pursuant to such Award, as applicable,
cannot exceed such number of shares having a Fair Market Value equal to the minimum statutory amount required by the Company to
be withheld and paid to any such federal, state or local taxing authority with respect to such exercise, vesting, lapse of restrictions
or payment of shares. 

 

    	 

    	 

    

 

		18.4.	Captions.

 

The use of captions in this Plan or any
Award Agreement is for the convenience of reference only and shall not affect the meaning of any provision of the Plan or such
Award Agreement.

 

		18.5.	Other Provisions.

 

Each Award granted under the Plan may contain
such other terms and conditions not inconsistent with the Plan as may be determined by the Board, in its sole discretion.

 

		18.6.	Number and Gender.

 

With respect to words used in this Plan,
the singular form shall include the plural form, the masculine gender shall include the feminine gender, etc., as the context requires.

 

		18.7.	Severability.

 

If any provision of the Plan or any Award
Agreement shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions
hereof and thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable
in any other jurisdiction.

 

		18.8.	Governing Law.

 

The validity and construction of this Plan
and the instruments evidencing the Awards hereunder shall be governed by the laws of the State of Delaware, other than any conflicts
or choice of law rule or principle that might otherwise refer construction or interpretation of this Plan and the instruments evidencing
the Awards granted hereunder to the substantive laws of any other jurisdiction.

 

		18.9.	Section 409A of the Code.

 

The Board intends to comply with Section
409A of the Code (“Section 409A”), or an exemption to Section 409A, with regard to Awards hereunder that constitute
nonqualified deferred compensation within the meaning of Section 409A. To the extent that the Board determines that a Grantee would
be subject to the additional 20% tax imposed on certain nonqualified deferred compensation plans pursuant to Section 409A as a
result of any provision of any Award granted under this Plan, such provision shall be deemed amended to the minimum extent necessary
to avoid application of such additional tax. The nature of any such amendment shall be determined by the Board.

 

*    *    *

    	 

    	 

    

  

To record both adoption of the amended
and restated Plan by the Board and approval of the amended and restated Plan by the stockholders on May 16, 2012, the Company
has caused its authorized officer to execute the Plan.

 

	 	COLFAX CORPORATION
	 	 
	 	By:	/s/ William F. Rothenbach
	 	Name:	William F. Rothenbach
	 	Title:	Senior Vice President, Human Resources
	 	 	 

    	 

    	 

    

 

Appendix A

 

		·	net earnings or net income;

		·	operating earnings;

		·	pretax earnings;

		·	pre-tax earnings per share;

		·	earnings per share;

		·	share price, including growth measures and total stockholder return;

		·	earnings before interest and taxes;

		·	earnings before interest, taxes, depreciation and/or amortization;

		·	earnings before interest, taxes, depreciation and/or amortization as adjusted to exclude any one
or more of the following:

		o	stock-based compensation expense;

		o	income from discontinued operations;

		o	gain on cancellation of debt;

		o	debt extinguishment and related costs;

		o	restructuring, separation and/or integration charges and costs;

		o	reorganization and/or recapitalization charges and costs;

		o	impairment charges;

		o	gain or loss related to investments;

		o	sales and use tax settlement; and

		o	gain on non-monetary transaction.

		·	sales or revenue growth, whether in general, by type of product or service, or by type of customer;

		·	gross or operating margins;

		·	return measures, including total shareholder return, return on assets, capital, investment, equity,
sales or revenue;

		·	cash flow, including:

		o	operating cash flow;

		o	free cash flow, defined as earnings before interest, taxes, depreciation and/or amortization (as
adjusted to exclude any one or more of the items that may be excluded pursuant to earnings before interest, taxes, depreciation
and/or amortization above) less capital expenditures;

		o	cash flow return on equity; and

		o	cash flow return on investment;

		·	productivity ratios;

		·	expense targets;

		·	market share;

		·	working capital targets;

    	 

    	 

    

		·	completion of acquisitions of businesses or companies;

		·	completion of divestitures and asset sales;

		·	debt repayment targets, and debt/equity ratios;  and

		·	any combination of the foregoing business criteria

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