Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

AMENDMENT NO. 3 TO CREDIT AGREEMENT 

AMENDMENT NO. 3 TO CREDIT AGREEMENT, dated as of August 17, 2020 (this “Amendment”), which amends that certain Credit
Agreement, dated as of September 23, 2016 (as in effect prior to this Amendment, the “Existing Credit Agreement”) by and among Roper Technologies, Inc., (the “Parent Borrower”), the Foreign Subsidiary Borrowers
party thereto from time to time, the Lenders party thereto from time to time (the “Lenders”), JPMorgan Chase Bank, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”), and the other agents
and parties thereto. 
 W I T N E S S E T H : 

WHEREAS, the Parent Borrower has advised the Administrative Agent and the Lenders that the Parent Borrower (or a Subsidiary thereof) may
consummate the Valor Acquisition (as defined below), and in connection therewith the parties hereto now desire to amend the Existing Credit Agreement to make certain modifications. 

THEREFORE, the parties hereto agree as follows: 

SECTION 1. Defined Terms; References. Unless otherwise specifically defined herein, each term used herein that is defined
in the Amended Credit Agreement has the meaning assigned to such term in the Amended Credit Agreement. Each reference in the Existing Credit Agreement to “this Agreement”, “hereof”, “hereunder”, “herein” and
“hereby” and each other similar reference, and each reference in any other Loan Document to “the Credit Agreement”, “thereof”, “thereunder”, “therein” or “thereby” or any other similar
reference to the Existing Credit Agreement shall, from the Amendment Effective Date (as defined below), refer to the Existing Credit Agreement as amended by this Amendment (the “Amended Credit Agreement”). For the avoidance of
doubt, this Amendment shall constitute a “Loan Document” for all purposes under the Amended Credit Agreement and the other Loan Documents. 

SECTION 2. Amendments. Effective as of the Amendment Effective Date, the Existing Credit Agreement is hereby amended as
follows: 
 (a)    Section 1.1 of the Existing Credit Agreement is hereby amended by adding in the correct place
alphabetically the following additional definitions: 
 ““Amendment No. 3 Effective Date”:
August 17, 2020.” 
 ““Specified Representations”: the representations and warranties set forth in Sections
4.3 (but only with respect to valid existence), 4.4, 4.5 (but only as to any Contractual Obligation consisting of debt instruments having an aggregate principal or committed amount in excess of $250,000,000), 4.10, 4.13, and 4.18, but in each case,
only insofar as they relate to the Parent Borrower.” 
 ““Valor Acquisition”: the acquisition by the Parent
Borrower (or a Subsidiary of the Parent Borrower) of the company code-named “Valor”, as identified separately by the Parent Borrower to the Administrative Agent and the Lenders.” 

 ““Valor Acquisition Consummation Date”: the date of consummation of
the Valor Acquisition.” 
 ““Valor Acquisition Purchase Agreement”: the Agreement and Plan of Merger, dated as of
the Valor Acquisition Purchase Agreement Date, among the Parent Borrower, Project V Merger Sub Inc. and Project Viking Holdings, Inc., pursuant to which the Parent Borrower agreed to consummate the Valor Acquisition.” 

““Valor Acquisition Purchase Agreement Date”: August 12, 2020.” 

(b)    The definition of “Restricted Cash” in Section 1.1 of the Existing Credit Agreement is hereby
amended and restated in its entirety as follows: 
 ““Restricted Cash”: cash and cash equivalents of the Group Members
to the extent (a) classified (or required to be classified) as restricted cash or restricted cash equivalents on the balance sheet of the Parent Borrower in accordance with GAAP, (b) such cash or cash equivalents are encumbered by or
subject to any Lien, setoff, counterclaim, recoupment, defense or any restriction on the use thereof to pay Indebtedness and other liabilities of the Parent Borrower and its Subsidiaries or (c) such cash or cash equivalents consist of proceeds
of Indebtedness which are to be used to finance an Acquisition to the extent that, and so long as, the cash proceeds of such Indebtedness are either held in escrow on customary terms or are held by the Parent Borrower in an account at the
Administrative Agent or a Lender.” 
 (c)    Clauses (a) and (b) of Section 5.2 of the Existing Credit
Agreement are hereby amended and restated in their entirety as follows: 
 “(a)    Representations and
Warranties. Each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents (other than, in the case of any extension of credit following the Closing Date, the representations and warranties set forth in
Section 4.2 and Section 4.6) shall be true and correct in all material respects (except any representation and warranty that is qualified by “Material Adverse Effect” or similar language shall be true and correct in all respects)
on and as of such date as if made on and as of such date; provided that to the extent such representations and warranties refer specifically to an earlier date, such representations and warranties shall be true and correct in all material
respects as of such earlier date; provided further that, in the case of any extension of credit the proceeds of which will be used to finance the Valor Acquisition, the representations and warranties shall be limited to (i) the
Specified Representations and (ii) such of the representations made by or with respect to the target and its subsidiaries in the Valor Acquisition Purchase Agreement as are material to the interests of the Lenders, but only to the extent that
the applicable Borrower (or its affiliates) has the right (taking into account any applicable cure provisions) to terminate (or not perform) its obligations under the Valor Acquisition Purchase Agreement, or to decline to consummate the Valor
Acquisition pursuant to the Valor Acquisition Purchase Agreement, as a result of an inaccuracy of such representations in the Valor Acquisition Purchase Agreement. 

“(b)    No Default. No Default or Event of Default shall have occurred and be continuing on such date or after
giving effect to the extensions of credit requested to be made on such date; provided, that in the case of any extension of credit the proceeds of which will be used to finance 

  
 2 

 
the Valor Acquisition, such condition in this clause (b) shall be as follows: (1) no Default or Event of Default shall exist or would result from such proposed credit extension at the
time of the signing of the Valor Acquisition Purchase Agreement and (2) no Default or Event of Default under Section 8(a) or 8(f) shall exist or result therefrom at the time of such extension of credit. 

(d)    Section 5.2 of the Existing Credit Agreement is hereby amended by adding the following text as a new clause
(d) after clause (c) thereof: 
 “(d)    Valor Acquisition. In the case of any extension of credit
the proceeds of which will be used to finance the Valor Acquisition, each of the conditions set forth on Annex A shall be satisfied.” 

(e)    Section 7.1(a) of the Existing Credit Agreement is hereby amended and restated in its entirety as follows: 

“7.1 Financial Condition Covenants. (a) Consolidated Total Leverage Ratio. Permit the Consolidated Total Leverage
Ratio as at the last day of any Test Period to exceed (in each case subject to adjustment in connection with the delivery of a QMA Notice, as provided below): 

(i)    with respect to the Test Period ending December 31, 2016, (x) if the Dash Acquisition Consummation Date occurs
on or prior to December 31, 2016, 4.25 to 1.0 and (y) otherwise, 3.50 to 1.0; 
 (ii)    if the Dash
Acquisition Consummation Date occurs on or prior to March 31, 2017, with respect to the Test Periods ending March 31, 2017, June 30, 2017, September 30, 2017 and December 31, 2017, the level set forth in the table below
opposite each such Test Period: 
  

			
	 Test Period Ending
	  	Maximum Consolidated
Total Leverage Ratio
	 March 31, 2017
	  	4.25:1.0
	 June 30, 2017
	  	4.25:1.0
	 September 30, 2017
	  	4.00:1.0
	 December 31, 2017
	  	4.00:1.0

 ; and 

(iii)    with respect to any other Test Period not described in the preceding clause (i) or (ii) (including, for the
avoidance of doubt as a result of the Dash Acquisition Consummation Date not occurring on or prior to March 31, 2017), 3.50 to 1.0 
 ;
provided that, (A) such ratio shall be (1) 4.60 to 1.0 for the first Test Period that ends on or subsequent to the Valor Acquisition Consummation Date (the “Initial Valor Test Period”) and for the Test Period immediately
following the Initial Valor Test Period and (2) 4.25 to 1.0 for the two consecutive Test Periods immediately thereafter and (B) subject to the limitations set forth in the definition of Qualifying Material Acquisition (including the delivery by
the Parent Borrower of a QMA Notice within the required time period set forth in the definition of Qualifying Material Acquisition), such ratio shall be 4.00 to 1.0 for the first Test Period that ends on or subsequent to

  
 3 

 
the applicable Consummation Date (the “Initial QMA Test Period”) and for each of the three consecutive Test Periods immediately following the Initial QMA Test Period
(provided, that if such ratio for any Test Period described in this clause (B) would otherwise be 4.25 to 1.0 pursuant to clause (a)(i) or (a)(ii) above, then such ratio shall remain 4.25 to 1.0 for the applicable Test Period
notwithstanding the provisions of this clause (B)); provided further that not more than two QMA Notices (or, if the Dash Acquisition Consummation Date occurs, not more than one QMA Notice) may be delivered by the Parent Borrower during
the term of this Agreement; provided, further, that, from and after the Amendment No. 3 Effective Date, the Parent Borrower may not deliver a QMA Notice (1) for any Test Period ending prior to the earlier of the Valor
Acquisition Consummation Date and the date on which the Valor Acquisition Purchase Agreement is terminated in accordance with its terms and (2) if the Valor Acquisition Consummation Date occurs, for the Initial Valor Test Period or for any of
the four Test Periods immediately following the Initial Valor Test Period. 
 Notwithstanding anything to the contrary in this Agreement,
(1) until the earlier of (a) the Dash Acquisition Consummation Date and (b) five Business Days after the date following the Dash Acquisition Purchase Agreement Date on which the Dash Acquisition Purchase Agreement is terminated (and,
for the avoidance of doubt, without any requirement to deliver a QMA Notice with respect to the Dash Acquisition), any Indebtedness incurred by the Parent Borrower on or after the Dash Acquisition Purchase Agreement Date the proceeds of which are to
be used to finance the Dash Acquisition shall be disregarded for purposes of determining compliance with this Section 7.1(a) to the extent that, and so long as, the cash proceeds of such Indebtedness are either held in escrow on customary terms
or are held by the Parent Borrower in an account at the Administrative Agent or a Lender as unrestricted cash or cash equivalents and (2) until the earlier of (a) the Valor Acquisition Consummation Date and (b) five Business Days
after the date following the Valor Acquisition Purchase Agreement Date on which the Valor Acquisition Purchase Agreement is terminated in accordance with its terms (and, for the avoidance of doubt, without any requirement to deliver a QMA Notice
with respect to the Valor Acquisition), any Indebtedness incurred by the Parent Borrower on or after the Valor Acquisition Purchase Agreement Date the proceeds of which are to be used to finance the Valor Acquisition shall be disregarded for
purposes of determining compliance with this Section 7.1(a) to the extent that, and so long as, the cash proceeds of such Indebtedness are either held in escrow on customary terms or are held by the Parent Borrower in an account at the
Administrative Agent or a Lender for the exclusive purpose of financing the Valor Acquisition.” 
 (f)    A new
Annex A is hereby added in the form attached as Annex A hereto. 
 SECTION 3. Representations of Parent Borrower. The
Parent Borrower represents and warrants that (i) the representations and warranties of the Parent Borrower set forth in Section 4 of the Amended Credit Agreement are true and correct in all material respects on and as of the Amendment
Effective Date (including, for the avoidance of doubt, as such representations and warranties relate to this Amendment as a Loan Document) except to the extent such representations and warranties expressly relate to an earlier date (in which case
such representations and warranties shall be true and correct in all material respects as of such earlier date) and (ii) no Event of Default or Default has occurred and is continuing. 

  
 4 

 SECTION 4. Effectiveness of Amendments. This Amendment shall become
effective on the date of execution hereof by the Administrative Agent, such Lenders constituting the Required Lenders and the Parent Borrower (the date of satisfaction of such conditions precedent, the “Amendment Effective Date”).

 SECTION 5. Certain Consequences of Effectiveness. Except as expressly set forth herein, this Amendment shall not by
implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders, the Administrative Agent or any other party under the Existing Credit Agreement or any other Loan Document, and shall not
alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall
continue in full force and effect. 
 SECTION 6. Governing Law. This Amendment shall be governed by and construed in
accordance with the laws of the State of New York. 
 SECTION 7. Counterparts. This Amendment may be signed in any
number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopy, emailed
pdf. or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Amendment. The words “execution,” “signed,”
“signature,” “delivery,” and words of like import in or relating to this Amendment, any document to be signed in connection herewith and the transactions contemplated hereby shall be deemed to include any electronic sound,
symbol, or process attached to, or associated with, this Amendment or such other document, as applicable, and adopted by a Person with the intent to sign, authenticate or accept such contract or record and any delivery or the keeping of records in
electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as
provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic
Transactions Act; provided that nothing herein shall require the Administrative Agent to accept electronic signatures in any form or format without its prior written consent. Without limiting the generality of the foregoing, the Parent
Borrower hereby (i) agrees that, for all purposes, including without limitation, in connection with any workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation among the Administrative Agent, the Lenders and the
Loan Parties, electronic images of this Amendment or any other Loan Documents (in each case, including with respect to any signature pages thereto) shall have the same legal effect, validity and enforceability as any paper original, and
(ii) waives any argument, defense or right to contest the validity or enforceability of the Loan Documents based solely on the lack of paper original copies of any Loan Documents, including with respect to any signature pages thereto. 

[Remainder of Page Intentionally Empty] 

  
 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of
the date first above written. 
  

			
	 ROPER TECHNOLOGIES, INC.,
 as
Parent Borrower

		
	By:	 	 /s/ John K. Stipancich

			
	 Name:
	 	 John K. Stipancich

	 Title:
	 	 Executive Vice President, General Counsel & Corporate Secretary

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 JPMORGAN CHASE BANK, N.A.,

as a Lender and as Administrative Agent

		
	By:	 	 /s/ Jonathan Bennett

			
	 Name:
	 	 Jonathan Bennett

	 Title:
	 	 Executive Director

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 Comerica Bank,
 as a
Lender

		
	By:	 	 /s/ Gerald R. Finney Jr.

			
	 Name:
	 	 Gerald R. Finney Jr.

	 Title:
	 	 Vice President

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 CITIZENS BANK, N.A., 

as a Lender

		
	By:	 	 /s/ Douglas Kennedy

			
	 Name:
	 	 Douglas Kennedy

	 Title:
	 	 Senior Vice President

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	MUFG Bank, Ltd.,
		
	By:	 	 /s/ Oscar D. Cortez

			
	 Name:
	 	 Oscar D. Cortez

	 Title:
	 	 Authorized Signatory

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 TRUIST BANK (formerly known as Branch Banking and Trust Company, and as Successor by merger to SunTrust Bank),

as a Lender

		
	By:	 	 /s/ Max Greer

 
			
	 Name:
	 	 Max Greer

	 Title:
	 	 Senior Vice President

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 Royal Bank of Canada,
 as a
Lender

		
	By:	 	 /s/ Andra Bosneaga

			
	 Name:
	 	 Andra Bosneaga

	 Title:
	 	 Vice-President

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 HSBC Bank USA NA,
 as a
Lender

		
	By:	 	 /s/ Justus Hanna

 
			
	 Name:
	 	 Justus Hanna

	 Title:
	 	 Vice President

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 Lloyds Bank plc,
 as a
Lender

		
	By:	 	
                     
                                         
           

 
			
	 Name:
	 	
	 Title:
	 	

 
			
		
	By:	 	
                     
                                         
           

 
			
	 Name:
	 	
	 Title:
	 	

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 Seaside National Bank & Trust,

as a Lender

		
	By:	 	
                     
                                         
           

 
			
	 Name:
	 	
	 Title:
	 	

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 UniCredit Bank AG, New York Branch

as a Lender

		
	By:	 	
                     
                                         
           

 
			
	 Name:
	 	
	 Title:
	 	

 
			
		
	By:	 	
                     
                                         
           

 
			
	 Name:
	 	
	 Title:
	 	

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	MIZUHO BANK, LTD., as a Lender
		
	By:	 	 /s/ Donna DeMagistris

			
	 Name:
	 	 Donna DeMagistris

	 Title:
	 	 Authorized Signatory

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	Wells Fargo Bank, N.A., as a Lender
		
	By:	 	 /s/ Matt J. Perrizo

			
	 Name:
	 	 Matt J. Perrizo

	 Title:
	 	 Director

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 Regions Bank,
 as a
Lender

		
	By:	 	 /s/ Cheryl L. Shelhart

			
	 Name:
	 	 Cheryl L. Shelhart

	 Title:
	 	 Director

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 PNC Bank, National Association, as a

Lender

		
	By:	 	 /s/ Dan Beckwith

 
			
	 Name:
	 	 Dan Beckwith

	 Title:
	 	 Senior Vice President

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 Bank of America, N.A.,
 as a
Lender

		
	By:	 	 /s/ Cameron Cardozo

			
	 Name:
	 	 Cameron Cardozo

	 Title:
	 	 Senior Vice President

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 TD Bank, N.A.,
 as a
Lender

		
	By:	 	 /s/ Bernadette Collins

			
	 Name:
	 	 Bernadette Collins

	 Title:
	 	 Senior Vice President

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 U.S. BANK, NATIONAL ASSOCIATION,

as a Lender

		
	By:	 	 /s/ Ken Gorski

 
			
	  Name:
	 	 Ken Gorski

	  Title:
	 	 Vice President

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 
			
	 Branch Banking and Trust Company,

as a Lender

		
	By:	 	
                     
                                         
           

 
			
	 Name:
	 	
	 Title:
	 	

 [Signature Page to Amendment No. 3 to Credit Agreement] 

 Annex A 

The funding of any extension of credit the proceeds of which will be used to finance the Valor Acquisition will be subject to satisfaction (or waiver) of the
following additional conditions precedent: 
 (i)    The Valor Acquisition Purchase Agreement shall not have been
altered, amended or otherwise changed or supplemented or any provision waived or consented to in a manner that is materially adverse to the Lenders without the prior written consent of the Administrative Agent on behalf of the Required Lenders (such
consent not to be unreasonably withheld, delayed or conditioned); it being understood and agreed that (a)(i) any decrease in the purchase price of less than 10% shall not be materially adverse to the interests of the Lenders so long as such decrease
is allocated to reduce the amount of such extension of credit on at least a pro rata basis with the other intended funding sources for the Valor Acquisition and (ii) any decrease in the purchase price of equal to or greater than 10% shall be
deemed materially adverse to the interests of the Lenders, (b)(i) any increase in the purchase price equal to or greater than 10% of the purchase price shall be deemed materially adverse to the interests of the Lenders and (ii) any increase in
the purchase price less than 10% of the purchase price shall be materially adverse to the interests of the Lenders unless funded with equity proceeds or in the form of equity or cash on hand and (c) any amendment, modification, waiver or
consent that results in a change to the definition of the term “Company Material Adverse Effect” (as defined in the Valor Acquisition Purchase Agreement as in effect on the Amendment No. 3 Effective Date) shall be deemed to be
materially adverse to the Lenders). The Valor Acquisition shall have been, or shall concurrently with such extension of credit be, consummated in accordance with the terms of the Valor Acquisition Purchase Agreement, as such terms may be altered,
amended or otherwise changed, supplemented, waived or consented to in accordance with the immediately preceding sentence. 

(ii)    The existing indebtedness of Valor outstanding under that certain first lien credit agreement and that certain
second lien credit agreement, in each case dated as of July 2, 2018 (collectively, the “Valor Credit Agreements”), but in each case excluding any Hedging Obligations (as defined in the Valor Credit Agreements, respectively)
associated with the Valor Credit Agreements, shall have been repaid in full substantially concurrently with the Valor Acquisition Consummation Date. 

(iii)    The Administrative Agent shall have received a solvency certificate in the form attached hereto as Schedule 1
from the chief financial officer of the Parent Borrower, certifying that the Parent Borrower and its subsidiaries, on a consolidated basis after giving effect to the Valor Acquisition and such extension of credit, are solvent. 

(iv)    Since the Valor Acquisition Purchase Agreement Date, there shall not have occurred or arisen a Company Material
Adverse Effect (as defined in the Valor Acquisition Purchase Agreement as in effect on the Amendment No. 3 Effective Date without giving effect to any amendment thereof or consent thereunder). 

(v)    Such extension of credit (if any) shall have occurred prior to the earliest of (a) the Termination Date (as
defined in the Valor Acquisition Purchase Agreement as in effect on the Amendment No. 3 Effective Date without giving effect to any amendment thereto or consent 

 
thereunder) in the event the Valor Acquisition Consummation Date has not occurred on or prior to such date, (b) the occurrence of the Valor Acquisition Consummation Date without the use of
such extension of credit and (c) the termination or expiration of the Valor Acquisition Purchase Agreement in accordance with its terms. 

(vi)    The aggregate principal amount of such extension of credit shall not exceed $1,500,000,000, and there shall be no
more than one such extension of credit. 

 SCHEDULE 1 

FORM OF 
 SOLVENCY
CERTIFICATE 
 [            ], 20     

This Solvency Certificate is delivered pursuant to Section 5.2(d) of the Credit Agreement, dated as of September 23, 2016 (as in
effect prior to this Amendment, the “Credit Agreement”) by and among Roper Technologies, Inc., (the “Parent Borrower”), the Foreign Subsidiary Borrowers party thereto from time to time, the Lenders
party thereto from time to time (the “Lenders”), JPMorgan Chase Bank, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”), and the other agents and parties thereto. Capitalized
terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 
 The
undersigned hereby certifies, solely in his capacity as an officer of the Parent Borrower and not in his individual capacity, as follows: 

1.    I am the Chief Financial Officer of the Parent Borrower. I am familiar with the Valor Acquisition and
related transactions, and have reviewed the Credit Agreement, financial statements referred to in Section 6.1 of the Credit Agreement and such documents and made such investigation as I have deemed relevant for the purposes of this Solvency
Certificate. 
 2.    As of the date hereof, immediately after giving effect to the consummation of the
Valor Acquisition and related transactions, on and as of such date (i) the fair value of the assets of the Parent Borrower and its subsidiaries on a consolidated basis, at a fair valuation, will exceed the debts and liabilities, direct,
subordinated, contingent or otherwise, of the Parent Borrower and its subsidiaries on a consolidated basis; (ii) the present fair saleable value of the property of the Parent Borrower and its subsidiaries on a consolidated basis will be greater
than the amount that will be required to pay the probable liability of the Parent Borrower and its subsidiaries on a consolidated basis on their debts and other liabilities, direct, subordinated, contingent or otherwise, as such debts and other
liabilities become absolute and matured; (iii) the Parent Borrower and its subsidiaries on a consolidated basis will be able to pay their debts and liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become
absolute and matured; and (iv) the Parent Borrower and its subsidiaries on a consolidated basis will not have unreasonably small capital with which to conduct the businesses in which they are engaged as such businesses are now conducted and are
proposed to be conducted following the Valor Acquisition Consummation Date. 
 3.    As of the date
hereof, immediately after giving effect to the consummation of the Valor Acquisition and related transactions, the Parent Borrower does not intend to, and the Parent Borrower does not believe that it or any of its subsidiaries will, incur debts
beyond its ability to pay such debts as they mature, taking into account the timing and amounts of cash to be received by it or any such subsidiary and the timing and amounts of cash to be payable on or in respect of its debts or the debts of any
such subsidiary. 
 This Solvency Certificate is being delivered by the undersigned officer only in his capacity as Chief Financial Officer
of the Parent Borrower and not individually and the undersigned shall have no personal liability to the Administrative Agent or the Lenders with respect thereto. 

[Remainder of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, the undersigned has executed this Solvency Certificate on the date first
written above. 
  

			
	ROPER TECHNOLOGIES, INC.
		
	        By:	 	                                      
                      
		 	
                     
            

	        	 	Name: Robert T. Crisci
	        	 	Title:   Chief Financial OfficerExhibit 10.1

 

Execution Version

 

 

 

CURTISS-WRIGHT CORPORATION

CURTISS-WRIGHT CONTROLS, INC.

METAL IMPROVEMENT COMPANY, LLC

CURTISS-WRIGHT FLOW CONTROL CORPORATION

CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC

CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION

CURTISS-WRIGHT SURFACE TECHNOLOGIES, LLC

 

$300,000,000

 

3.10% Series J Senior Guaranteed Notes due
August 13, 2030

3.20% Series K Senior Guaranteed Notes due August 13, 2032

 

 

 

NOTE PURCHASE AGREEMENT

 

 

 

Dated as of August 13, 2020

 

 

    	 

    	

    

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	1.	AUTHORIZATION OF NOTES; SUBSIDIARY GUARANTEE	1
	 	1.1.	Authorization of Issue of Notes	1
	 	1.2.	Subsidiary Guarantee	2
	2.	SALE AND PURCHASE OF NOTES	2
	3.	CLOSING	2
	4.	CONDITIONS TO CLOSING	2
	 	4.1.	Representations and Warranties	2
	 	4.2.	Performance; No Default; No Change in Control	3
	 	4.3.	Compliance Certificates	3
	 	4.4.	Opinions of Counsel	3
	 	4.5.	Purchase Permitted By Applicable Law, etc	4
	 	4.6.	Sale of Other Notes	4
	 	4.7.	Payment of Special Counsel Fees	4
	 	4.8.	Private Placement Number	4
	 	4.9.	Changes in Corporate Structure	4
	 	4.10.	Subsidiary Guarantee	4
	 	4.11.	Side Letter	5
	 	4.12.	Funding Instructions	5
	 	4.13.	Offeree Letters	5
	 	4.14.	Proceedings and Documents	5
	5.	REPRESENTATIONS AND WARRANTIES OF THE ISSUERS	5
	 	5.1.	Organization; Power and Authority	5
	 	5.2.	Authorization, etc	6
	 	5.3.	Disclosure	6
	 	5.4.	Organization and Ownership of Shares of Subsidiaries	6
	 	5.5.	Financial Statements	7
	 	5.6.	Compliance with Laws, Other Instruments, etc	7
	 	5.7.	Governmental Authorizations, etc	8
	 	5.8.	Litigation; Observance of Statutes and Orders	8
	 	5.9.	Taxes	8
	 	5.10.	Title to Property; Leases	9
	 	5.11.	Licenses, Permits, etc	9
	 	5.12.	Compliance with ERISA	9
	 	5.13.	Private Offering by the Issuers	10
	 	5.14.	Use of Proceeds; Margin Regulations	11
	 	5.15.	Existing Debt	11
	 	5.16.	Foreign Assets Control Regulations, etc	11
	 	5.17.	Status under Certain Statutes	12
	 	5.18.	Pari Passu Ranking	12
	6.	REPRESENTATIONS OF THE PURCHASERS	12

    	i

    	

    

TABLE OF CONTENTS

(continued)

 

	 	 	 	Page
	 	6.1.	Purchase for Investment	12
	 	6.2.	Source of Funds	13
	7.	INFORMATION AS TO COMPANY	15
	 	7.1.	Financial and Business Information	15
	 	7.2.	Officer’s Certificate	17
	 	7.3.	Inspection	18
	 	7.4.	Electronic Delivery	18
	8.	PREPAYMENT OF THE NOTES	19
	 	8.1.	Required Prepayments	19
	 	8.2.	Optional Prepayments with Make-Whole Amount	19
	 	8.3.	Prepayment of Notes Upon Change in Control	19
	 	8.4.	Offer to Prepay upon the Sale of Certain Assets	21
	 	8.5.	Allocation of Partial Prepayments	22
	 	8.6.	Maturity; Surrender, etc	22
	 	8.7.	Purchase of Notes	23
	 	8.8.	Make-Whole Amount	23
	9.	AFFIRMATIVE COVENANTS	25
	 	9.1.	Compliance with Law	25
	 	9.2.	Insurance	25
	 	9.3.	Maintenance of Properties	25
	 	9.4.	Payment of Taxes	25
	 	9.5.	Corporate Existence, etc	26
	 	9.6.	Additional Subsidiary Guarantors	26
	 	9.7.	Most Favored Lender	27
	10.	NEGATIVE COVENANTS	28
	 	10.1.	Transactions with Affiliates	28
	 	10.2.	Mergers and Consolidations	29
	 	10.3.	Sale of Assets	30
	 	10.4.	Limitation on Consolidated Debt	30
	 	10.5.	Limitation on Priority Debt	30
	 	10.6.	Consolidated Interest Coverage Ratio	30
	 	10.7.	Limitation on Liens	31
	 	10.8.	Nature of Business	33
	 	10.9.	Material Subsidiaries	33
	 	10.10. Terrorism Sanctions Regulations	33
	11.	EVENTS OF DEFAULT	34
	12.	REMEDIES ON DEFAULT, ETC	36
	 	12.1.	Acceleration	36

    	ii

    	

    

TABLE OF CONTENTS

(continued)

 

	 	 	 	Page
	 	12.2.	Other Remedies	37
	 	12.3.	Rescission	37
	 	12.4.	No Waivers or Election of Remedies, Expenses, etc	37
	13.	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES	38
	 	13.1.	Registration of Notes	38
	 	13.2.	Transfer and Exchange of Notes	38
	 	13.3.	Replacement of Notes	39
	14.	PAYMENTS ON NOTES	39
	 	14.1.	Place of Payment	39
	 	14.2.	Home Office Payment	39
	 	14.3.	Status of Purchasers	40
	15.	EXPENSES, ETC	41
	 	15.1.	Transaction Expenses	41
	 	15.2.	Survival	42
	16.	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT	42
	17.	AMENDMENT AND WAIVER	42
	 	17.1.	Requirements	42
	 	17.2.	Solicitation of Holders of Notes	42
	 	17.3.	Binding Effect, etc	43
	 	17.4.	Notes held by the Issuers, etc	43
	18.	NOTICES	44
	19.	REPRODUCTION OF DOCUMENTS	44
	20.	CONFIDENTIAL INFORMATION	44
	21.	SUBSTITUTION OF PURCHASER	46
	22.	MISCELLANEOUS	46
	 	22.1.	Successors and Assigns	46
	 	22.2.	Payments Due on Non-Business Days	46
	 	22.3.	Severability	47
	 	22.4.	Accounting Terms	47
	 	22.5.	Construction	48
	 	22.6.	Counterparts	48
	 	22.7.	Governing Law	49
	 	22.8.	Jurisdiction and Process; Waiver of Jury Trial	49

    	iii

    	

    

SCHEDULES AND EXHIBITS

 

	SCHEDULE A	--	Information Relating to Purchasers
	SCHEDULE B	--	Defined Terms
	SCHEDULE 1.2	--	Subsidiary Guarantors
	SCHEDULE 3	--	Payment Instructions at the Closing
	SCHEDULE 4.9	--	Changes in Corporate Structure
	SCHEDULE 5.3	--	Disclosure Materials
	SCHEDULE 5.4	--	Subsidiaries of the Company; Ownership of Subsidiary Stock
	SCHEDULE 5.5	--	Financial Statements
	SCHEDULE 5.8	--	Certain Litigation
	SCHEDULE 5.10	--	Title to Property
	SCHEDULE 5.11	--	Licenses, Permits, Etc.
	SCHEDULE 5.12	--	ERISA Affiliates, Employee Benefit Plans
	SCHEDULE 5.15	--	Existing Debt
	SCHEDULE 5.16	--	Foreign Assets Control Regulations
	 	 	 
	EXHIBIT 1.1(a)	--	Form of 3.10% Series J Senior Guaranteed Note due August 13, 2030
	EXHIBIT 1.1(b)	--	Form of 3.20% Series K Senior Guaranteed Note due August 13, 2032
	EXHIBIT 1.2	--	Form of Subsidiary Guarantee
	EXHIBIT 4.4(a)(i)	--	Form of Opinion of General Counsel to the Company
	EXHIBIT 4.4(a)(ii)	--	Form of Opinion of Associate General Counsel to the Company
	EXHIBIT 4.4(b)	--	Form of Opinion of Special Counsel for the Purchasers
	EXHIBIT 4.11	--	Form of Side Letter

    	iv

    	

    

CURTISS-WRIGHT CORPORATION

CURTISS-WRIGHT CONTROLS, INC.

METAL IMPROVEMENT COMPANY, LLC

CURTISS-WRIGHT FLOW CONTROL CORPORATION

CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC

CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION

CURTISS-WRIGHT SURFACE TECHNOLOGIES, LLC

 

130 Harbour Place Drive, Suite 300

Davidson, NC 28036

 

3.10% Series J Senior Guaranteed Notes
due August 13, 2030

3.20% Series K Senior Guaranteed Notes due August 13, 2032

 

August 13, 2020

 

To Each Of The Purchasers Listed In

The Attached Schedule A:

 

Ladies and Gentlemen:

 

CURTISS-WRIGHT CORPORATION,
a Delaware corporation (together with its successors and assigns, the “Company”), CURTISS-WRIGHT CONTROLS,
INC., a Delaware corporation (together with its successors and assigns, “C-W Controls”), METAL IMPROVEMENT
COMPANY, LLC, a Delaware limited liability company (together with its successors and assigns, “Metal”),
CURTISS-WRIGHT FLOW CONTROL CORPORATION, a New York corporation (together with its successors and assigns, “C-W
Flow”), CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC, a Delaware limited liability company (together with its successors
and assigns, “C-W Flow Control Service”), CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION, a Delaware corporation
(together with its successors and assigns, “C-W Electro-Mechanical”) and CURTISS-WRIGHT SURFACE TECHNOLOGIES,
LLC, a Delaware limited liability company (“C-W Surface” and together with the Company, C-W Controls, Metal,
C-W Flow, C-W Flow Control Service and C-W Electro-Mechanical, individually, an “Issuer” and collectively, the
“Issuers”), hereby jointly and severally agree with the Purchasers as follows:

 

	1.	AUTHORIZATION OF NOTES; SUBSIDIARY GUARANTEE.

 

1.1. Authorization
of Issue of Notes. The Issuers will authorize the joint and several issuance and sale of (a) $150,000,000 aggregate principal
amount of their joint and several 3.10% Series J Senior Guaranteed Notes due August 13, 2030 (including any amendments, restatements
or modifications from time to time, the “Series J Notes”) and (b) $150,000,000 aggregate principal amount of
their joint and several 3.20% Series K Senior Guaranteed Notes due August 13, 2032 (including any amendments, restatements or modifications
from time to time, the “Series K Notes”, and together with the Series J Notes, collectively, the “Notes”,
such term to include any such notes issued in substitution therefor pursuant to Section 13 of this

    	 

    	

    

Agreement). The Series J Notes and the
Series K Notes shall be substantially in the form set out in Exhibit 1.1(a) and Exhibit 1.1(b), respectively, with
such changes thereto, if any, as may be approved by the Purchasers and the Issuers. Certain capitalized terms used in this Agreement
are defined in Schedule B; and, for purposes of this Agreement, the rules of construction set forth in Section 22.5 shall
govern.

 

1.2. Subsidiary Guarantee.
The payment of the principal of, interest on, and Make-Whole Amounts, if any, with respect to the Notes and other obligations of
the Issuers under this Agreement shall be guaranteed by certain Subsidiaries, as listed on Schedule 1.2, pursuant to a guaranty
agreement (as amended, restated, supplemented or otherwise modified from time to time, the “Subsidiary Guarantee”)
substantially in the form of Exhibit 1.2 hereto.

 

	2.	SALE AND PURCHASE OF NOTES.

 

Subject to the terms
and conditions of this Agreement, the Issuers will issue and sell to each Purchaser and each Purchaser will purchase from the Issuers,
at the Closing provided for in Section 3, Notes in the principal amount and in the Series specified opposite such Purchaser’s
name in Schedule A at the purchase price of 100% of the principal amount thereof. The Purchasers’ obligations hereunder
are several and not joint obligations and no Purchaser shall have any liability to any Person for the performance or non-performance
by any other Purchaser hereunder.

 

	3.	CLOSING.

 

The sale and purchase
of the Notes to be purchased by each of Purchaser shall occur at the offices of Morgan, Lewis & Bockius LLP, 101 Park
Avenue, New York, NY 10178, at 10:00 a.m., local time, at a closing (the “Closing”) on August 13, 2020. At the
Closing, the Issuers will deliver to each Purchaser the Notes to be purchased by such Purchaser in the form of a single Note of
each Series (or such greater number of Notes of each such denominations of at least $250,000 as such Purchaser may request) dated
the date of the Closing and registered in such Purchaser’s name (or in the name of its nominee), against delivery by such
Purchaser to the Issuers or their order of immediately available funds in the amount of the purchase price therefor as directed
by the Issuers in Schedule 3. If at the Closing the Issuers shall fail to tender such Notes to any Purchaser as provided
above in this Section 3, or any of the conditions specified in Section 4 shall not have been fulfilled to such Purchaser’s
satisfaction, such Purchaser shall, at its election, be relieved of all further obligations under this Agreement, without thereby
waiving any rights each such Purchaser may have by reason of such failure or such nonfulfillment.

 

	4.	CONDITIONS TO CLOSING.

 

Each Purchaser’s
obligation to purchase and pay for the Notes to be sold to it at the Closing is subject to the fulfillment to such Purchaser’s
satisfaction, prior to or at the Closing, of the following conditions:

 

		4.1.	Representations and Warranties.

 

The representations
and warranties of the Issuers in this Agreement and of the Obligors in the other Financing Documents shall be correct when made
and at the Closing.

    	2

    	

    

		4.2.	Performance; No Default; No Change in Control.

 

Each Issuer shall have
performed and complied with all agreements and conditions contained in this Agreement, and the Obligors shall have performed and
complied with all agreements and conditions contained in the other Financing Documents, in each case as required to be performed
or complied with by it or such Obligor, as the case may be, prior to or at the Closing and immediately after giving effect to the
issue and sale of the Notes (and the application of the proceeds thereof as contemplated by Section 5.14) no Default or Event of
Default shall have occurred and be continuing.

 

		4.3.	Compliance Certificates.

 

(a) Issuers’
Officer’s Certificates. Each of the Issuers shall have delivered to such Purchaser an Officer’s Certificate, dated
the date of the Closing, certifying that the conditions specified in Sections 4.1, 4.2 and 4.9 have been fulfilled.

 

(b) Subsidiary Guarantors’
Officer’s Certificates. Each of the Subsidiary Guarantors shall have delivered to such Purchaser an Officer’s Certificate,
dated the date of the Closing, certifying that (i) the representations and warranties contained in the Subsidiary Guarantee are
true on and as of the Closing with the same effect as if made on that date and (ii) that such Subsidiary Guarantor has performed
and complied with all agreements and conditions contained in the Subsidiary Guarantee required to be performed or complied with
by such Subsidiary Guarantor prior to or at the Closing

 

(c) Issuers’
Secretary’s Certificates. Each of the Issuers shall have delivered to such Purchaser a certificate, dated the date of
the Closing, certifying as to the resolutions attached thereto and other corporate or limited liability company proceedings relating
to the authorization, execution and delivery of the Notes and this Agreement.

 

(d) Subsidiary Guarantors’
Secretary’s Certificates. Each of the Subsidiary Guarantors shall have delivered to such Purchaser a certificate, dated
the date of the Closing, certifying as to the resolutions attached thereto and other corporate proceedings relating to the authorization,
execution and delivery of the Subsidiary Guarantee by such Subsidiary Guarantor.

 

		4.4.	Opinions of Counsel.

 

Such Purchaser shall
have received opinions in form and substance satisfactory to it, dated the date of the Closing (a) from one or more Associate General
Counsel or General Counsel to the Company substantially in the forms set forth in Exhibit 4.4(a)(i) and Exhibit 4.4(a)(ii)
and covering such other matters incident to such transactions as the Purchasers or their counsel may reasonably request (and the
Company hereby instructs such counsel to deliver such opinions to each Purchaser) and (b) from Morgan, Lewis & Bockius
LLP, the Purchasers’ special counsel in connection with such transactions, substantially in the form set forth in Exhibit
4.4(b) and covering such other matters incident to such transactions as the Purchasers may reasonably request.

    	3

    	

    

		4.5.	Purchase Permitted By Applicable Law, etc.

 

On the date of the Closing
such Purchaser’s purchase of Notes shall (a) be permitted by the laws and regulations of each jurisdiction to which it is
subject, without recourse to provisions (such as Section 1405(a)(8) of the New York Insurance Law) permitting limited investments
by insurance companies without restriction as to the character of the particular investment, (b) not violate any applicable law
or regulation (including, without limitation, Regulation T, U or X of the Board of Governors of the Federal Reserve System) and
(c) not subject such Purchaser to any tax, penalty or liability under or pursuant to any applicable law or regulation, which law
or regulation was not in effect on the date hereof. If so requested, such Purchaser shall have received Officer’s Certificates
from each Issuer and each Subsidiary Guarantor certifying as to such matters of fact as it may reasonably specify to enable such
Purchaser to determine whether such purchase is so permitted.

 

		4.6.	Sale of Other Notes.

 

Contemporaneously with
the Closing, the Issuers shall sell to each other Purchaser and each other Purchaser shall purchase the Notes to be purchased by
it at the Closing as specified in Schedule A.

 

		4.7.	Payment of Special Counsel Fees.

 

Without limiting the
provisions of Section 15.1, the Issuers shall have paid on or before the Closing the reasonable fees, charges and disbursements
of the Purchasers’ special counsel referred to in Section 4.4(c) to the extent reflected in a statement of such counsel rendered
to the Issuers at least one Business Day prior to the Closing.

 

		4.8.	Private Placement Number.

 

A Private Placement
Number issued by Standard & Poor’s CUSIP Service Bureau (in cooperation with the Securities Valuation Office of
the National Association of Insurance Commissioners (the “NAIC”)) shall have been obtained for each Series of
Notes.

 

		4.9.	Changes in Corporate Structure.

 

Except as specified
in Schedule 4.9, no Obligor shall have changed its jurisdiction of incorporation or organization or been a party to any
merger or consolidation and shall not have succeeded to all or any substantial part of the liabilities of any other entity, at
any time following the date of the most recent financial statements referred to in Schedule 5.5.

 

		4.10.	Subsidiary Guarantee.

 

Each Subsidiary Guarantor
shall have duly executed and delivered to the Purchasers the Subsidiary Guarantee and such Subsidiary Guarantee shall be in full
force and effect.

    	4

    	

    

		4.11.	Side Letter.

 

Each of the Issuers
and each of the Purchasers shall have duly executed and delivered a side letter substantially in the form of Exhibit 4.11
hereto (as amended, restated or otherwise modified from time to time, the “Side Letter”), and the Side Letter
shall be in full force and effect.

 

		4.12.	Funding Instructions.

 

At least three Business
Days prior to the date of the Closing, such Purchaser shall have received written instructions signed by a Responsible Officer
on letterhead of the Company confirming the information specified in Schedule 3 including (a) the name and address of the
transferee bank, (b) such transferee bank’s ABA number and (c) the account name and number into which the purchase price
for the Notes is to be deposited.

 

		4.13.	Offeree Letters.

 

Each of BofA Securities,
Inc. and J.P. Morgan Securities LLC shall have delivered to each Issuer, their counsel, each of the Purchasers and the Purchasers’
special counsel an offeree letter, each in form and substance satisfactory to each Purchaser and the Issuers, confirming the manner
of the offering of the Notes by BofA Securities, Inc. and J.P. Morgan Securities LLC (or confirmation that it did not participate
in the marketing of the Notes).

 

		4.14.	Proceedings and Documents.

 

All corporate and limited
liability company, as applicable, and other proceedings in connection with the transactions contemplated by this Agreement and
all documents and instruments incident to such transactions shall be satisfactory to such Purchaser and its special counsel, and
such Purchaser and its special counsel shall have received all such counterpart originals or certified or other copies of such
documents as such Purchaser or its counsel may reasonably request.

 

		5.	REPRESENTATIONS AND WARRANTIES OF THE ISSUERS

 

Each of the Issuers
jointly and severally represents and warrants to each Purchaser that:

 

		5.1.	Organization; Power and Authority.

 

The Company is a corporation
duly organized, validly existing and in good standing under the laws of Delaware, and is duly qualified as a foreign corporation
and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as
to which the failure to be so qualified or in good standing would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect. The Company has the corporate power and authority to own or hold under lease the properties
it purports to own or hold under lease, to transact the business it transacts and proposes to transact, to execute and deliver
the Financing Documents to which it is a party and to perform the provisions hereof and thereof.

    	5

    	

    

		5.2.	Authorization, etc.

 

(a) This Agreement
and the Notes have been duly authorized by all necessary corporate or limited liability company, as applicable, action on the part
of each Issuer, and this Agreement constitutes, and upon execution and delivery thereof each Note will constitute, a legal, valid
and binding obligation of each Issuer enforceable against such Issuer in accordance with its terms, except as such enforceability
may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement
of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered
in a proceeding in equity or at law).

 

(b) The Subsidiary
Guarantee has been duly authorized by all necessary corporate action on the part of each Subsidiary Guarantor, and the Subsidiary
Guarantee constitutes a legal, valid and binding obligation of each Subsidiary Guarantor enforceable against each Subsidiary Guarantor
in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of
equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

 

		5.3.	Disclosure.

 

The Company, through
its agents, BofA Securities, Inc. and J.P. Morgan Securities LLC , has delivered to each Purchaser a copy of an Investor Presentation,
dated May 2020 (the “Presentation”), relating to the transactions contemplated hereby. Except as disclosed in
Schedule 5.3, this Agreement, the Presentation, the documents, certificates or other writings identified in Schedule 5.3
and the financial statements listed in Schedule 5.5, taken as a whole, do not contain any untrue statement of a material
fact or omit to state any material fact necessary to make the statements therein in light of the circumstances under which they
were made not misleading; provided that, with respect to management projections or guidance or forward looking statements, the
Issuers represent only that such information was prepared in good faith based upon assumptions believed to be reasonable at the
time, it being recognized by the Purchasers that such financial information as it relates to future events is not to be viewed
as fact and that actual results during the period or periods covered by such financial information may differ from the projected
results set forth therein by a material amount. Except as disclosed in the Presentation or as expressly described in Schedule
5.3, or in one of the documents, certificates or other writings identified therein, or in the financial statements listed in
Schedule 5.5, since December 31, 2019, there has been no change in the financial condition, operations, business or properties
of the Company or any of its Subsidiaries except changes that individually or in the aggregate would not reasonably be expected
to have a Material Adverse Effect.

 

		5.4.	Organization and Ownership of Shares of Subsidiaries.

 

(a) Schedule
5.4 is (except as noted therein) a complete and correct list of the Company’s Subsidiaries, showing, as to each Subsidiary,
the correct name

    	6

    	

    

thereof, the jurisdiction of its
organization, and the percentage of shares of each class of its capital stock or similar equity interests outstanding owned by
the Company and each other Subsidiary.

 

(b) All of
the outstanding shares of capital stock or similar equity interests of each Subsidiary shown in Schedule 5.4 as being owned
by the Company and its Subsidiaries have been validly issued, are fully paid and nonassessable and are owned by the Company or
another Subsidiary free and clear of any Lien (except as otherwise disclosed in Schedule 5.4).

 

(c) Each Subsidiary
identified in Schedule 5.4 is a corporation or other legal entity duly organized, validly existing and in good standing
under the laws of its jurisdiction of organization or formation, and is duly qualified as a foreign corporation or other legal
entity and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions
as to which the failure to be so qualified or in good standing would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect. Each such Subsidiary has the corporate or other power and authority to own or hold under lease
the properties it purports to own or hold under lease, to transact the business it transacts and proposes to transact, and to execute
and deliver the Financing Documents to which it is a party, and to perform the provisions hereof and thereof.

 

(d) No Subsidiary
is a party or otherwise subject to any legal restriction or any agreement (other than this Agreement, the agreements listed on
Schedule 5.4 and customary limitations imposed by corporate law statutes) restricting the ability of such Subsidiary to pay dividends
out of profits or make any other similar distributions of profits to any Obligor or any of such Obligor’s Subsidiaries that
owns outstanding shares of capital stock or similar equity interests of such Subsidiary.

 

		5.5.	Financial Statements.

 

The Company has delivered
to each Purchaser copies of the financial statements of the Company and its Subsidiaries listed on Schedule 5.5. All of
said financial statements (including in each case the related schedules and notes) fairly present in all material respects the
consolidated financial position of the Company and its Subsidiaries as of the respective dates specified in such Schedule and the
consolidated results of their operations and cash flows for the respective periods so specified and have been prepared in accordance
with GAAP consistently applied throughout the periods involved except as set forth in the notes thereto (subject, in the case of
any interim financial statements, to normal year-end adjustments and the absence of footnotes).

 

		5.6.	Compliance with Laws, Other Instruments, etc.

 

The execution, delivery
and performance by each of the Issuers and each Subsidiary Guarantor, as the case may be, of this Agreement, the Notes and the
Subsidiary Guarantee will not (a) contravene, result in any breach of, or constitute a default under, or result in the creation

    	7

    	

    

of any Lien in respect of any property
of the Company or any Subsidiary under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate
charter or by-laws, operating agreement or any other Material agreement or instrument to which the Company or any Subsidiary is
bound or by which the Company or any Subsidiary or any of their respective properties may be bound or affected, (b) conflict with
or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator
or Governmental Authority applicable to the Company or any Subsidiary or (c) violate any provision of any statute or other rule
or regulation of any Governmental Authority applicable to the Company or any Subsidiary.

 

		5.7.	Governmental Authorizations, etc.

 

No consent, approval
or authorization of, or registration, filing or declaration with, any Governmental Authority is required in connection with the
execution, delivery or performance by (a) the Issuers of this Agreement or the Notes and (b) each Subsidiary Guarantor of the Subsidiary
Guarantee, except that the Issuers may, at their option, file a notice on Form D with the Securities and Exchange Commission.

 

		5.8.	Litigation; Observance of Statutes and Orders.

 

(a) Except
as disclosed in Schedule 5.8, there are no actions, suits or proceedings pending or, to the knowledge of the Company, threatened
against or affecting the Company or any Subsidiary or any property of the Company or any Subsidiary in any court or before any
arbitrator of any kind or before or by any Governmental Authority that, individually or in the aggregate, would reasonably be expected
to have a Material Adverse Effect.

 

(b) Neither
the Company nor any Subsidiary is in default under any order, judgment, decree or ruling of any court, arbitrator or Governmental
Authority or is in violation of any applicable law, ordinance, rule or regulation (including without limitation Environmental Laws
and any of the laws and regulations referred to in Section 5.16) of any Governmental Authority, which default or violation, individually
or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

 

		5.9.	Taxes.

 

The Issuers and their
Subsidiaries have filed all income tax returns that are required to have been filed in any jurisdiction, and have paid all taxes
shown to be due and payable on such returns and all other taxes and assessments payable by them, to the extent such taxes and assessments
have become due and payable and before they have become delinquent, except for any taxes and assessments (a) the amount of which
is not individually or in the aggregate Material or (b) the amount, applicability or validity of which is currently being contested
in good faith by appropriate proceedings and with respect to which the affected Issuer or Subsidiary, as the case may be, has established
adequate reserves in accordance with GAAP. The Federal income tax liabilities of the Issuers and their Subsidiaries which have
filed a Federal income tax return or were included in a consolidated Federal income tax return have been determined by the

    	8

    	

    

Internal Revenue Service and paid for all
fiscal years up to and including the fiscal year ended December 31, 2016.

 

		5.10.	Title to Property; Leases.

 

Except as disclosed
on Schedule 5.10, each of the Issuers and their Subsidiaries have good and sufficient title to their respective Material
properties, including all such properties reflected in the most recent audited balance sheet referred to in Section 5.5 or purported
to have been acquired by any of the Issuers or any Subsidiary after said date (except as sold or otherwise disposed of in the ordinary
course of business), in each case free and clear of Liens prohibited by this Agreement. All Material leases are valid and subsisting
and are in full force and effect in all material respects.

 

		5.11.	Licenses, Permits, etc.

 

Except as disclosed
in Schedule 5.11, each of the Issuers and their Subsidiaries own or possess all licenses, permits, franchises, authorizations,
patents, copyrights, service marks, trademarks and trade names, or rights thereto, that are Material, and, to the knowledge of
the Issuers, none of such licenses, permits, franchises, authorizations, patents, copyrights, service marks, trademarks and trade
names, or rights with respect thereto conflict with the rights of others, except for those conflicts that, individually or in the
aggregate, would not have a Material Adverse Effect.

 

		5.12.	Compliance with ERISA.

 

(a) Each Issuer
and each ERISA Affiliate have operated and administered each Plan in compliance with all applicable laws except for such instances
of noncompliance as have not resulted in and could not, individually or in the aggregate, reasonably be expected to result in a
Material Adverse Effect. None of the Issuers nor any ERISA Affiliate has incurred any liability pursuant to Title I or IV of ERISA
or the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in section 3 of ERISA), and
no event, transaction or condition has occurred or exists that would, individually or in the aggregate, reasonably be expected
to result in the incurrence of any such liability by any of the Issuers or any ERISA Affiliate, or in the imposition of any Lien
on any of the rights, properties or assets of any of the Issuers or any ERISA Affiliate, in either case pursuant to Title I or
IV of ERISA or to such penalty or excise tax provisions or to section 430 or section 436 of the Code or section 4068 of ERISA or
by the granting of a security interest in connection with the amendment of a Plan, other than such liabilities or Liens as would
not be individually or in the aggregate Material.

 

(b) The present
value of the aggregate benefit liabilities under each of the Plans (other than Multiemployer Plans), determined as of the end of
such Plan’s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes in such
Plan’s most recent actuarial valuation report, did not exceed the aggregate current value of the assets of such Plan allocable
to such benefit liabilities by more than $100,000,000 in the aggregate for all such Plans.

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The term “benefit liabilities”
has the meaning specified in section 4001 of ERISA and the terms “current value” and “present value”
have the meaning specified in section 3 of ERISA.

 

(c) None of
the Issuers or their ERISA Affiliates has incurred withdrawal liabilities (and none is subject to contingent withdrawal liabilities)
under section 4201 or 4204 of ERISA in respect of Multiemployer Plans that individually or in the aggregate are Material.

 

(d) The expected
postretirement benefit obligation (determined as of the last day of the Company’s most recently ended fiscal year in accordance
with Financial Accounting Standards Board Accounting Standards Codification Topic 715-60, without regard to liabilities attributable
to continuation coverage mandated by section 4980B of the Code) of the Company and its Subsidiaries is not Material.

 

(e) The execution
and delivery of this Agreement and the issuance and sale of the Notes hereunder will not involve any transaction that is subject
to the prohibitions of section 406 of ERISA or in connection with which a tax could be imposed pursuant to section 4975(c)(1)(A)-(D)
of the Code. The representation by the Issuers in the first sentence of this Section 5.12(e) is made in reliance upon and subject
to the accuracy of the Purchasers’ representation in Section 6.2 as to the sources of the funds to be used to pay the purchase
price of the Notes to be purchased by such Purchaser.

 

(f) Schedule
5.12 sets forth all ERISA Affiliates and all “employee benefit plans” maintained by the Issuers (or any “affiliate”
thereof) or in respect of which the Notes could constitute an “employer security” (“employee benefit plan”
has the meaning specified in section 3 of ERISA, “affiliate” has the meaning specified in section 407(d) of
ERISA and section V of the Department of Labor Prohibited Transaction Exemption 95-60 (60 FR 35925, August 12, 1995) and “employer
security” has the meaning specified in section 407(d) of ERISA).

 

(g) No Issuer
or any of its Subsidiaries has any Non-U.S. Plans.

 

		5.13.	Private Offering by the Issuers.

 

None of the Issuers
nor anyone acting on behalf of any of them has offered the Notes or any similar securities for sale to, or solicited any offer
to buy any of the same from, or otherwise approached or negotiated in respect thereof with, any Person other than the Purchasers
and not more than 35 other Institutional Investors (as defined in clause (c) of the definition of such term), each of which has
been offered the Notes at a private sale for investment. None of the Issuers nor anyone acting on behalf of any of them has taken,
or will take, any action that would subject the issuance or sale of the Notes to the registration requirements of Section 5 of
the Securities Act. The representations and warranties of the Issuers in the second sentence of this Section 5.13 are made in reliance
upon and subject to the accuracy and completeness of the Purchasers’ representations and warranties set forth in Section
6.1.

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		5.14.	Use of Proceeds; Margin Regulations.

 

The Issuers will apply
the proceeds of the sale of the Notes for general corporate purposes of the Issuers and their Subsidiaries, including repaying
existing indebtedness of the Issuers and their Subsidiaries and acquisitions. No part of the proceeds from the sale of the Notes
hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation
U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in
any securities under such circumstances as to involve any Issuer in a violation of Regulation X of said Board (12 CFR 224) or to
involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not constitute more than
10% of the value of the consolidated assets of the Issuers and their Subsidiaries and the Issuers do not have any present intention
that margin stock will constitute more than 10% of the value of such assets. As used in this Section, the terms “margin stock”
and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U.

 

		5.15.	Existing Debt.

 

Except as described
therein, Schedule 5.15 sets forth a complete and correct list of each issue of Debt of the Issuers and their Subsidiaries
the outstanding principal amount of which exceeds $15,000,000 as of June 30, 2020, since which date there has been no Material
change in the amounts, interest rates, sinking funds, installment payments or maturities of such Debt of the Issuers or their Subsidiaries.
The aggregate amount of all outstanding Debt of the Issuers and their Subsidiaries not set forth in Schedule 5.15 does not
exceed $75,000,000. None of the Issuers nor any Subsidiary is in default and no waiver of default is currently in effect, in the
payment of any principal or interest on any Debt of such Issuer or such Subsidiary and no event or condition exists with respect
to any Debt of any such Issuer or such Subsidiary the outstanding principal amount of which exceeds $15,000,000 that would permit
(or that with notice or the lapse of time, or both, would permit) one or more Persons to cause such Debt to become due and payable
before its stated maturity or before its regularly scheduled dates of payment.

 

		5.16.	Foreign Assets Control Regulations, etc.

 

(a) Neither
the Company nor any Controlled Entity (i) is a Blocked Person, (ii) has been notified that its name appears or may in the future
appear on a State Sanctions List or (iii) is a target of sanctions that have been imposed by the United Nations or the European
Union.

 

(b) Except
as disclosed on Schedule 5.16, neither the Company nor any Controlled Entity (i) has violated, been found in violation of, or been
charged or convicted under, any applicable U.S. Economic Sanctions Laws, Anti-Money Laundering Laws or Anti-Corruption Laws or
(ii) to the Company’s knowledge, is under investigation by any Governmental Authority for possible violation of any U.S.
Economic Sanctions Laws, Anti-Money Laundering Laws or Anti-Corruption Laws.

 

(c) No part
of the proceeds from the sale of the Notes hereunder:

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(i) constitutes
or will constitute funds obtained on behalf of any Blocked Person or will otherwise be used by the Company or any Controlled Entity,
directly or, to the Company’s knowledge, indirectly, (A) in connection with any investment in, or any transactions or dealings
with, any Blocked Person, (B) for any purpose that would cause any Purchaser to be in violation of any U.S. Economic Sanctions
Laws or (C) otherwise in violation of any U.S. Economic Sanctions Laws;

 

(ii) will be
used, directly or, to the Company’s knowledge, indirectly, in violation of, or cause any Purchaser to be in violation of,
any applicable Anti-Money Laundering Laws; or

 

(iii) will
be used, directly or, to the Company’s knowledge, indirectly, for the purpose of making any improper payments, including
bribes, to any Governmental Official or commercial counterparty in order to obtain, retain or direct business or obtain any improper
advantage, in each case which would be in violation of, or cause any Purchaser to be in violation of, any applicable Anti-Corruption
Laws.

 

(d) The Company
has established procedures and controls which it reasonably believes are adequate (and otherwise comply with applicable law) to
ensure that the Company and each Controlled Entity is and will continue to be in compliance with all applicable U.S. Economic Sanctions
Laws, Anti-Money Laundering Laws and Anti-Corruption Laws.

 

		5.17.	Status under Certain Statutes.

 

No Issuer or any Subsidiary
is subject to regulation under the Investment Company Act of 1940, as amended, the Public Utility Holding Company Act of 2005,
the ICC Termination Act of 1995, as amended, or the Federal Power Act, as amended.

 

		5.18.	Pari Passu Ranking.

 

The Obligors’
obligations under the Financing Documents to which they are a party will, upon issuance of the Notes, rank at least pari passu,
without preference or priority, with all of their respective other outstanding unsecured and unsubordinated obligations, except
for those obligations that are mandatorily afforded priority by operation of law.

 

		6.	REPRESENTATIONS OF THE PURCHASERS.

 

		6.1.	Purchase for Investment.

 

Each Purchaser represents,
as of the date hereof, that it (a) is an “accredited investor” as defined in Rule 501 (a)(1), (2), (3) or (7) of Regulation
D under the Securities Act acting for its own account (and not for the account of others) or as a fiduciary or agent for others
(which others are also “accredited investors”); (b) has received and reviewed the Presentation; (c) has relied upon
the Presentation and the representations and warranties of the Issuers set forth herein in making a decision to purchase the Notes
and has a full understanding and appreciation of the

    	12

    	

    

risks inherent in such an investment, (d)
together with its attorneys, accountants and other representatives and advisers, if any (i) has been given an opportunity to ask,
and has to the extent such Purchaser considered necessary, asked questions of, and has received answers from, officers of the Issuers
concerning the terms and conditions of the offering and sale of Notes and the affairs of the Issuers and their proposed activities
and (ii) has been given or afforded access to all documents, records, books and additional information which such Purchaser has
requested regarding such matters (provided that it is understood that no information obtained by any Purchaser in any manner indicated
in this clause (d) in any way limits the scope and substance of the representations and warranties made by the Issuers set forth
in this Agreement upon which each Purchaser may rely in full regardless of any such information) and (e) is purchasing the Notes
for its own account or for one or more separate accounts maintained by such Purchaser or for the account of one or more pension
or trust funds over which such Purchaser has investment discretion and not with a view to the distribution thereof (except for
any transfer of the Notes effected pursuant to an applicable exemption from the registration requirements of the Securities Act),
provided that the disposition of it or its property shall at all times be within its or their control. Each Purchaser understands
that the Notes have not been registered under the Securities Act and may be resold only if registered pursuant to the provisions
of the Securities Act or if an exemption from registration is available, except under circumstances where neither such registration
nor such an exemption is required by law, and that the Issuers are not required to register the Notes.

 

		6.2.	Source of Funds.

 

Each Purchaser represents
that at least one of the following statements is an accurate representation as to each source of funds (a “Source”)
to be used by such Purchaser to pay the purchase price of the Notes to be purchased by such Purchaser hereunder:

 

(a) the Source
is an “insurance company general account” (as the term is defined in the United States Department of Labor’s
Prohibited Transaction Exemption (“PTE”) 95-60) in respect of which the reserves and liabilities (as defined
by the annual statement for life insurance companies approved by the NAIC (the “NAIC Annual Statement”)) for
the general account contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and
liabilities for the general account contract(s) held by or on behalf of any other employee benefit plans maintained by the same
employer (or affiliate thereof as defined in PTE 95-60) or by the same employee organization in the general account do not exceed
10% of the total reserves and liabilities of the general account (exclusive of separate account liabilities) plus surplus as set
forth in the NAIC Annual Statement filed with such Purchaser’s state of domicile; or

 

(b) the Source
is a separate account that is maintained solely in connection with such Purchaser’s fixed contractual obligations under which
the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate account
(or to any participant or beneficiary of such plan (including any annuitant)) are not affected in any manner by the investment
performance of the separate account; or

    	13

    	

    

(c) the Source
is either (i) an insurance company pooled separate account, within the meaning of PTE 90-1 or (ii) a bank collective investment
fund, within the meaning of the PTE 91-38 and, except as disclosed by such Purchaser to the Company in writing pursuant to this
clause (c), no employee benefit plan or group of plans maintained by the same employer or employee organization beneficially owns
more than 10% of all assets allocated to such pooled separate account or collective investment fund; or

 

(d) the Source
constitutes assets of an “investment fund” (within the meaning of Part VI of PTE 84-14 (the “QPAM Exemption”))
managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part VI of the QPAM
Exemption), no employee benefit plan’s assets that are managed by the QPAM in such investment fund, when combined with the
assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning
of Part VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization and managed by such QPAM, represent
more than 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied,
neither the QPAM nor a person controlling or controlled by the QPAM maintains an ownership interest in the Company that would cause
the QPAM and the Company to be “related” within the meaning of Part VI(h) of the QPAM Exemption and (i) the identity
of such QPAM and (ii) the names of any employee benefit plans whose assets in the investment fund, when combined with the assets
of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of Part
VI(c)(1) of the QPAM Exemption) of such employer or by the same employee organization, represent 10% or more of the assets of such
investment fund, have been disclosed to the Company in writing pursuant to this clause (d); or

 

(e) the Source
constitutes assets of a “plan(s)” (within the meaning of Part IV(h) of PTE 96-23 (the “INHAM Exemption”))
managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV(a) of the INHAM Exemption),
the conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied, neither the INHAM nor a person controlling or controlled
by the INHAM (applying the definition of “control” in Part IV(d) of the INHAM Exemption) owns a 10% or more interest
in any of the Issuers and (i) the identity of such INHAM and (ii) the name(s) of the employee benefit plan(s) whose assets constitute
the Source have been disclosed to such Issuer in writing pursuant to this paragraph (e); or

 

(f) the Source is a governmental
plan; or

 

(g) the Source
is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee benefit plans, each
of which has been identified to the Issuers in writing pursuant to this paragraph (g); or

 

(h) the Source
does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA.

    	14

    	

    

If any Purchaser or
any subsequent transferee of the Notes notifies any of the Issuers in writing that such Purchaser or such transferee is relying
on any representation contained in paragraphs (c), (d), (e), or (g) above, such Issuer shall deliver on the date of the Closing
and on the date of any applicable transfer, a certificate, which shall either state that (i) it is neither a “party in interest”
(as defined in Title I, section 3(14) of ERISA) nor a “disqualified person” (as defined in section 4975(e)(2) of the
Code), with respect to any plan identified pursuant to paragraphs (c), (e) or (g) above, or (ii) with respect to any plan identified
pursuant to paragraph (d) above, neither it nor any “affiliate” (as defined in section V(c) of the QPAM Exemption)
has at such time, and during the immediately preceding one year, exercised the authority to appoint or terminate said QPAM as manager
of any plan identified in writing pursuant to paragraph (d) above or to negotiate the terms of said QPAM’s management agreement
on behalf of any such identified plan. As used in this Section 6.2, the terms “employee benefit plan” and “separate
account” shall have the respective meanings assigned to such terms in section 3 of ERISA. Each of the representations of
the Purchasers made in this Section 6.2 are also for the benefit of the Subsidiary Guarantors.

 

		7.	INFORMATION AS TO COMPANY.

 

		7.1.	Financial and Business Information.

 

The Company shall deliver
to each holder of Notes that is an Institutional Investor:

 

(a) Quarterly
Statements -- within 60 days after the end of each quarterly fiscal period in each fiscal year of the Company (other than the
last quarterly fiscal period of each such fiscal year), duplicate copies of,

 

(i) a consolidated
unaudited balance sheet of the Company and its Subsidiaries as at the end of such quarter, and

 

(ii) consolidated
unaudited statements of income and cash flows of the Company and its Subsidiaries for such quarter and (in the case of the second
and third quarters) for the portion of the fiscal year ending with such quarter,

 

setting forth in each case in
comparative form the figures for the corresponding periods in the previous fiscal year, all in reasonable detail, prepared in accordance
with GAAP applicable to quarterly financial statements generally, and certified by a Senior Financial Officer as fairly presenting
(together with the footnotes thereto), in all material respects, the consolidated financial position of the companies being reported
on and their consolidated results of operations and cash flows, subject to changes resulting from year-end adjustments, provided
that delivery within the time period specified above of copies of the Company’s Quarterly Report on Form 10-Q prepared in
compliance with the requirements therefor and filed with the Securities and Exchange Commission shall be deemed to satisfy the
requirements of this Section 7.1(a);

 

(b) Annual
Statements -- within 105 days after the end of each fiscal year of the Company, duplicate copies of,

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(i) a consolidated
balance sheet of the Company and its Subsidiaries as at the end of such year, and

 

(ii) consolidated
statements of income, changes in shareholders’ equity and cash flows of the Company and its Subsidiaries for such year,

 

setting forth in each case in
comparative form the figures for the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP, and accompanied
by an opinion thereon of independent certified public accountants of recognized national standing, which opinion shall state that
such financial statements (together with the footnotes thereto) present fairly, in all material respects, the consolidated financial
position of the companies being reported upon and their consolidated results of operations and cash flows and have been prepared
in conformity with GAAP, and that the examination of such accountants in connection with such financial statements has been made
in accordance with generally accepted auditing standards, and that such audit provides a reasonable basis for such opinion in the
circumstances, provided that the delivery within the time period specified above of the Company’s Annual Report on
Form 10-K for such fiscal year prepared in accordance with the requirements therefor and filed with the Securities and Exchange
Commission shall be deemed to satisfy the requirements of this Section 7.1(b);

 

(c) SEC
and Other Reports -- promptly upon their becoming available, one copy of (i) each financial statement, report (including without
limitation, the Company’s annual report to shareholders, if any, prepared pursuant to Rule 14a-3 under the Exchange Act)
notice or proxy statement sent by the Company or any Subsidiary to public securities holders generally, and (ii) each regular or
periodic report, each registration statement that shall have become effective (without exhibits except as expressly requested by
such holder), and each final prospectus and all amendments thereto filed by the Company or any Subsidiary with the Securities and
Exchange Commission; provided that to the extent information in paragraph (a) through (c) is filed with the Securities and Exchange
Commission, in electronic form, the Company will promptly provide the information electronically to the holders of the Notes at
such time;

 

(d) Notice
of Default or Event of Default -- promptly, and in any event within five Business Days after a Responsible Officer having knowledge
of the existence of any Default or Event of Default, a written notice specifying the nature and period of existence thereof and
what action an Issuer or Subsidiary Guarantor is taking or proposes to take with respect thereto;

 

(e) ERISA
Matters -- promptly, and in any event within five Business Days after a Responsible Officer has knowledge of any of the following,
a written notice setting forth the nature thereof and the action, if any, that an Issuer, a Subsidiary Guarantor or an ERISA Affiliate
proposes to take with respect thereto:

 

(i) with respect
to any Plan, any reportable event, as defined in section 4043(c) of ERISA and the regulations thereunder, for which notice thereof
has not been waived pursuant to such regulations as in effect on the date hereof, or

    	16

    	

    

(ii) the taking
by the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under section 4042 of ERISA
for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by any Issuer, a Subsidiary Guarantor
or any ERISA Affiliate of a notice from a Multiemployer Plan that such action has been taken by the PBGC with respect to such Multiemployer
Plan; or

 

(iii) any event,
transaction or condition that could result in the incurrence of any liability by an Issuer, a Subsidiary Guarantor or any ERISA
Affiliate pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans,
or in the imposition of any Lien on any of the rights, properties or assets of any Issuer, any Subsidiary Guarantor or any ERISA
Affiliate pursuant to Title I or IV of ERISA or such penalty or excise tax provisions, if such liability or Lien, taken together
with any other such liabilities or Liens then existing, would reasonably be expected to have a Material Adverse Effect; and

 

(f) Requested
Information -- with reasonable promptness, such other data and information relating to the business, operations, affairs, financial
condition, assets or properties of any Obligor or any of its Subsidiaries or relating to the ability of any Obligor to perform
its obligations under the Financing Documents to which it is a party as from time to time may be reasonably requested by any such
holder of Notes.

 

		7.2.	Officer’s Certificate.

 

Each set of financial
statements delivered to a holder of Notes pursuant to Section 7.1(a) or Section 7.1(b) shall be accompanied by a certificate of
a Senior Financial Officer setting forth:

 

(a) Covenant
Compliance – (i) the information (including detailed calculations) required in order to establish whether the Company
was in compliance with the requirements of Sections 10.3 through 10.7, inclusive, Section 10.9 and any Additional Provision, during
the quarterly or annual period covered by the statements then being furnished (including with respect to each such Section, where
applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms
of such Sections, and the calculation of the amount, ratio or percentage then in existence), and (ii) a reconciliation of the treatment
of leases which are or would be deemed by GAAP as in effect prior to January 1, 2019 to be treated as operating leases, in form
and substance reasonably satisfactory to the Required Holders. In addition, in the event that the Company or any Subsidiary has
made an election to measure any financial liability using fair value (which election is being disregarded for purposes of determining
compliance with this Agreement pursuant to Section 22.4) as to the period covered by any such financial statement, such Senior
Financial Officer’s certificate as to such period shall include a reconciliation from GAAP with respect to such election;
and

 

(b) Event
of Default -- a statement that such officer has reviewed the relevant terms hereof and has made, or caused to be made, under
his or her supervision, a review

    	17

    	

    

of the transactions and conditions
of the Company and its Subsidiaries from the beginning of the quarterly or annual period covered by the statements then being furnished
to the date of the certificate and that such review shall not have disclosed the existence during such period of any condition
or event that constitutes a Default or an Event of Default or, if any such condition or event existed or exists (including, without
limitation, any such event or condition resulting from the failure of the Company or any Subsidiary to comply with any Environmental
Law), specifying the nature and period of existence thereof and what action the Company shall have taken or proposes to take with
respect thereto.

 

		7.3.	Inspection.

 

The Issuers shall permit
the representatives of each holder of Notes that is an Institutional Investor:

 

(a) No Default
-- if no Default or Event of Default then exists, at the expense of such holder and upon reasonable prior notice to the applicable
Issuer: (i) to visit the principal executive office of such Issuer, to discuss the affairs, finances and accounts of such Issuer
and its Subsidiaries with such Issuer’s officers, and (ii) with the consent of such Issuer (which consent will not be unreasonably
withheld) to visit the other offices and properties of such Issuer and each of its Subsidiaries, all at such reasonable times and
as often as may be reasonably requested in writing; and

 

(b) Default
-- if a Default or Event of Default then exists, at the expense of the Issuers to visit and inspect any of the offices or properties
of any Issuer or any Subsidiary, to examine all their respective books of account, records, reports and other papers, to make copies
and extracts therefrom, and to discuss their respective affairs, finances and accounts with their respective officers and independent
public accountants (and by this provision each Issuer authorizes said accountants to discuss the affairs, finances and accounts
of the Issuers and their Subsidiaries), all at such times and as often as may be requested.

 

		7.4.	Electronic Delivery.

 

Financial statements,
opinions of independent certified public accountants, other information and Officer’s Certificates that are required to be delivered
by the Company pursuant to Sections 7.1(a), (b) or (c) and Section 7.2 shall be deemed to have been delivered if the Company satisfies
any of the following requirements with respect thereto:

 

(a) such financial
statements satisfying the requirements of Section 7.1(a) or (b) and related Officer’s Certificate satisfying the requirements of
Section 7.2 and any other information required under Section 7.1(c) are delivered to each holder of a Note by e-mail at the e-mail
address set forth in such holder’s Purchaser Schedule or as communicated from time to time in a separate writing delivered to the
Obligors; or

 

(b) such financial
statements satisfying the requirements of Section 7.1(a) or Section 7.1(b) and related Officer’s Certificate satisfying the requirements
of Section 7.2 and any other information required under Section 7.1(c) are timely posted by or on behalf

    	18

    	

    

of the Company on IntraLinks or
on any other similar website to which each holder of Notes has free access;

 

provided however, that in no case shall access to such
financial statements, other information and Officer’s Certificates be conditioned upon any waiver or other agreement or consent
(other than confidentiality provisions consistent with Section 20); provided further, that in the case of clause (b), the Company
shall have given each holder of a Note prior written notice, which may be by e-mail or in accordance with Section 18, of such posting
in connection with each delivery, provided further, that upon request of any holder to receive paper copies of such forms, financial
statements, other information and Officer’s Certificates or to receive them by e-mail, the Company will promptly e-mail them or
deliver such paper copies, as the case may be, to such holder.

 

		8.	PREPAYMENT OF THE NOTES.

 

		8.1.	Required Prepayments.

 

The outstanding principal
amount, if any, of the Notes shall be repaid by the Issuers, at par and without payment of the Make-Whole Amount or any premium,
on the stated maturity date thereof.

 

		8.2.	Optional Prepayments with Make-Whole Amount.

 

The Issuers may, at
their option, upon notice as provided below, prepay at any time all, or from time to time any part of, the Notes of any Series
(but if in part, in an amount not less than $5,000,000 or such lesser amount as shall then be outstanding), at 100% of the principal
amount so prepaid, plus the Make-Whole Amount determined for the prepayment date with respect to such principal amount; provided,
however, that the Issuers may prepay all or any part of any Series (rather than all or any part of all Series) of Notes
only so long as no Default or Event of Default shall have occurred and be continuing. The Issuers will give each holder of such
Series of Notes written notice of each optional prepayment of such Series under this Section 8.2 not less than 15 days and not
more than 60 days prior to the date fixed for such prepayment unless the Issuers and the Required Holders agree to another time
period pursuant to Section 17. Each such notice shall specify such date, the aggregate principal amount and Series of the Notes
to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with
Section 8.5), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall
be accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in connection with such
prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation.
Two Business Days prior to such prepayment, the Issuers shall deliver to each holder of such Series of Notes a certificate of a
Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment date.

 

		8.3.	Prepayment of Notes Upon Change in Control.

 

(a) Notice
of Change in Control or Control Event. The Company will, within five Business Days after any Responsible Officer has knowledge
of the occurrence of any Change in Control or Control Event, give written notice of such Change in Control or

    	19

    	

    

Control Event to each holder of
Notes. In the case of a Control Event, following the delivery of such notice, the Company will not take any action that consummates
or finalizes a Change in Control unless (i) at least 20 days prior to such action, the Company has given to each holder written
notice containing and constituting an offer to prepay the Notes as described in subparagraph (b) of this Section 8.3, together
with the certificate described in subparagraph (f) of this Section 8.3, and (ii) contemporaneously with such consummation of such
Change in Control, the Issuers prepay all of the Notes required to prepaid in accordance with this Section 8.3. In the case that
a Change in Control has occurred, such notice shall contain and constitute an offer to prepay Notes as described in subparagraph
(b) of this Section 8.3 and shall be accompanied by the certificate described in subparagraph (f) of this Section 8.3.

 

(b) Offer
to Prepay Notes. The offer to prepay Notes contemplated by subparagraph (a) of this Section 8.3 shall be an offer to prepay,
in accordance with and subject to this Section 8.3, all, but not less than all, of the Notes held by each holder (in this case
only, “holder” in respect of any Note registered in the name of a nominee for a disclosed beneficial owner shall
mean such beneficial owner) on a date specified in such offer (the “Change in Control Proposed Prepayment Date”).
If such Change in Control Proposed Prepayment Date is in connection with an offer contemplated by the last sentence of clause (a)
of this Section 8.3, then such Change in Control Proposed Prepayment Date shall be a date specified in such offer provided that
such date is not less than 20 days and not more than 60 days after the date of such offer (if the Change in Control Proposed Prepayment
Date shall not be specified in such offer, the Change in Control Proposed Prepayment Date shall be the Business Day nearest to
the 30th day after the date of such offer).

 

(c) Acceptance;
Rejection. A holder of Notes may accept the offer to prepay made pursuant to this Section 8.3 by causing a written notice of
such acceptance to be delivered to the Company at least 10 Business Days prior to the Change in Control Proposed Prepayment Date
(a “Change in Control Offer Response Date”). A failure by a holder of Notes to respond to an offer to prepay
made pursuant to this Section 8.3 by the Change in Control Offer Response Date shall be deemed to constitute a rejection of such
offer by such holder.

 

(d) Prepayment.
Prepayment of the Notes to be prepaid pursuant to this Section 8.3 shall be at 100% of the principal amount of such Notes, together
with interest on such Notes accrued to the Change in Control Prepayment Date. Each prepayment of Notes pursuant to this Section
8.3 shall be made on the Change in Control Prepayment Date, except as provided in clause (e) of this Section 8.3.

 

(e) Deferral
Pending Change in Control. The obligation of the Issuers to prepay Notes pursuant to the offers required by the second sentence
in clause (a) of this Section 8.3 and accepted in accordance with clause (c) of this Section 8.3 is subject to the occurrence of
the Change in Control in respect of which such offers and acceptances shall have been made. In the event that such Change in Control
does not occur on the Change in Control Proposed Prepayment Date in respect thereof, the prepayment shall be deferred until, and
shall be made on the date on which, such Change in Control occurs.

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The Issuers shall keep each holder
of Notes reasonably and timely informed of (i) any such deferral of the date of prepayment, (ii) the date on which such Change
in Control and the prepayment are expected to occur and (iii) any determination by the Issuers that efforts to effect such Change
in Control have ceased or been abandoned (in which case the offers and acceptances made pursuant to this Section 8.3 in respect
of such Change in Control shall be deemed rescinded).

 

(f) Officer’s
Certificate. Each offer to prepay the Notes pursuant to this Section 8.3 shall be accompanied by a certificate, executed by
a Senior Financial Officer of the Company and dated the date of such offer, specifying: (i) the proposed Change in Control Prepayment
Date; (ii) that such offer is made pursuant to this Section 8.3; (iii) the principal amount of each Note offered to be prepaid;
(iv) the interest that would be due on each Note offered to be prepaid as of the Change in Control Prepayment Date; (v) that the
conditions of this Section 8.3 have been fulfilled; and (vi) in reasonable detail, the nature and date of the Change in Control.

 

(g) “Change
in Control” Defined. A “Change in Control” shall occur if any Person or group of Persons acting in
concert, together with Affiliates thereof, shall in the aggregate, directly or indirectly, control or own (beneficially or otherwise)
more than 50% of the issued and outstanding Voting Stock of the Company at any time after the date of this Agreement or shall otherwise
have the ability to elect a majority of the members of the board of directors of the Company.

 

(h) “Control
Event” Defined. “Control Event” means: (i) the execution by the Company or any of its Subsidiaries
or Affiliates of any agreement or letter of intent with respect to any proposed transaction or event or series of transactions
or events which, individually or in the aggregate, may reasonably be expected to result in a Change in Control, or (ii) the execution
of any written agreement which, when fully performed by the parties thereto, would result in a Change in Control.

 

		8.4.	Offer to Prepay upon the Sale of Certain Assets.

 

(a) Notice
and Offer. In the event of any Debt Prepayment Application under Section 10.3, the Obligors will, within 10 days of the occurrence
of the Transfer (a “Debt Prepayment Transfer”) in respect of which an offer to prepay the Notes is being made
to comply with the provisions for a Debt Prepayment Application (as set forth in the definition thereof), give written notice of
such Debt Prepayment Transfer to each holder of Notes. Such written notice shall contain, and such written notice shall constitute,
an irrevocable offer (the “Transfer Prepayment Offer”) to prepay, at the election of each holder, a portion
of the Notes held by such holder equal to such holder’s Ratable Portion of the Net Proceeds in respect of such Debt Prepayment
Transfer on a date specified in such notice (the “Transfer Prepayment Date”) that is not less than 30 days and
not more than 60 days after the date of such notice, together with interest on the amount to be so prepaid accrued to the Transfer
Prepayment Date. If the Transfer Prepayment Date shall not be specified in such notice, the Transfer Prepayment Date shall be the
40th day after the date of such notice.

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(b) Acceptance
and Payment. To accept such Transfer Prepayment Offer, a holder of Notes shall cause a notice of such acceptance to be delivered
to the Company not later than 20 days after the date of such written notice from the Obligors, provided, that failure to accept
such offer in writing within 20 days after the date of such written notice shall be deemed to constitute a rejection of the Prepayment
Offer. If so accepted by any holder of a Note, such offered prepayment (equal to not less than such holder’s Ratable Portion
of the Net Proceeds in respect of such Debt Prepayment Transfer) shall be due and payable on the Transfer Prepayment Date. Such
offered prepayment shall be made at one hundred percent (100%) of the principal amount of such Notes being so prepaid, together
with interest on such principal amount then being prepaid accrued to the Transfer Prepayment Date.

 

(c) Officer’s
Certificate. Each offer to prepay the Notes pursuant to this Section 8.4 shall be accompanied by a certificate, executed by
a Senior Financial Officer of the Company and dated the date of such offer, specifying (i) the Transfer Prepayment Date, (ii) the
Net Proceeds in respect of the applicable Debt Prepayment Transfer, (iii) that such offer is being made pursuant to Section 8.4
and Section 10.3, (iv) the principal amount of each Note offered to be prepaid, (v) the interest that would be due on each Note
offered to be prepaid, accrued to the Transfer Prepayment Date and (vi) in reasonable detail, the nature of the Transfer giving
rise to such Debt Prepayment Transfer and certifying that no Default or Event of Default exists or would exist after giving effect
to the prepayment contemplated by such offer.

 

		8.5.	Allocation of Partial Prepayments.

 

In the case of each
partial prepayment of Notes pursuant to Section 8.2, the principal amount of the Notes to be prepaid shall be allocated (a) in
the case of a partial prepayment of any Series of Notes, among all of the Notes of such Series at the time outstanding in proportion,
as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment so long as no
Default or Event of Default shall have occurred and be continuing and (ii) in the case of a partial prepayment of all of the Notes
outstanding, without regard to Series, in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof
not theretofore called for prepayment.

 

		8.6.	Maturity; Surrender, etc.

 

In the case of each
prepayment of Notes pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and
payable on the date fixed for such prepayment (which shall be a Business Day), together with interest on such principal amount
accrued to such date and the applicable Make-Whole Amount, if any. From and after such date, unless the Issuers shall fail to pay
such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest
on such principal amount shall cease to accrue. Any Note paid or prepaid in full shall be surrendered to the Issuers and cancelled
and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note.

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	 	8.7.	Purchase of Notes.

 

No Issuer will, nor
will any Issuer permit any Subsidiary or Affiliate it controls to, purchase, redeem, prepay or otherwise acquire, directly or indirectly,
any Series of the outstanding Notes except (a) upon the payment or prepayment of such Series of the Notes in accordance with the
terms of this Agreement and the Notes or (b) pursuant to an offer to purchase any outstanding Notes of such Series made by the
Issuer or an Affiliate pro rata to the holders of all Notes of such Series at the time outstanding upon the same terms and conditions;
provided that the Issuers may only make an offer to purchase an individual Series of Notes (rather than all Notes) so long as no
Default or Event of Default shall have occurred and be continuing. Any such offer shall provide each holder with sufficient information
to enable it to make an informed decision with respect to such offer, and shall remain open for at least 10 Business Days. If the
holders of more than 15% of the principal amount of the Notes of such Series then outstanding accept such offer, the Issuers shall
promptly notify the remaining holders of such Series of Notes of such fact and the expiration date for the acceptance by holders
of such Series of Notes of such offer shall be extended by the number of days necessary to give each such remaining holder at least
10 Business Days from its receipt of such notice to accept such offer. The Issuers will promptly cancel all Notes acquired by any
of them or any Affiliate pursuant to any payment, prepayment or purchase of Notes pursuant to any provision of this Agreement and
no Notes may be issued in substitution or exchange for any such Notes.

 

	 	8.8.	Make-Whole Amount.

 

The term “Make-Whole
Amount” means, with respect to any Note of any Series, an amount equal to the excess, if any, of the Discounted Value
of the Remaining Scheduled Payments with respect to the Called Principal of such Note of such Series over the amount of such Called
Principal, provided that the Make-Whole Amount may in no event be less than zero. For the purposes of determining the Make-Whole
Amount, the following terms have the following meanings:

 

“Called Principal”
means, with respect to any Note of any Series, the principal of such Note that is to be prepaid pursuant to Section 8.2 or has
become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

 

“Discounted
Value” means, with respect to the Called Principal of any Note of any Series, the amount obtained by discounting all
Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement
Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on
the same periodic basis as that on which interest on such Series of Notes is payable) equal to the Reinvestment Yield with respect
to such Called Principal.

 

“Reinvestment
Yield” means, with respect to the Called Principal of any Note, the sum of (a) 0.50% plus (b) the yield to maturity
implied by the “Ask Yield(s)” reported as of 10:00 a.m. (New York City time) on the second Business Day preceding
the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” (or such other
display as may replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on -the -run U.S.
Treasury securities (“Reported”) having a maturity equal to the

    	23

    	

    

Remaining Average Life of such Called Principal
as of such Settlement Date. If there are no such U.S. Treasury securities Reported having a maturity equal to such Remaining Average
Life, then such implied yield to maturity will be determined by (i) converting U.S. Treasury bill quotations to bond equivalent
yields in accordance with accepted financial practice and (ii) interpolating linearly between the “Ask Yields” Reported
for the applicable most recently issued actively traded on-the-run U.S. Treasury securities with the maturities (1) closest to
and greater than such Remaining Average Life and (2) closest to and less than such Remaining Average Life. The Reinvestment Yield
shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note.

 

If such yields are
not Reported or the yields Reported as of such time are not ascertainable (including by way of interpolation), then “Reinvestment
Yield” means, with respect to the Called Principal of any Note, the sum of (x) 0.50% plus (y) the yield to maturity implied
by the U.S. Treasury constant maturity yields reported, for the latest day for which such yields have been so reported as of the
second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release
H.15 (or any comparable successor publication) for the U.S. Treasury constant maturity having a term equal to the Remaining Average
Life of such Called Principal as of such Settlement Date. If there is no such U.S. Treasury constant maturity having a term equal
to such Remaining Average Life, such implied yield to maturity will be determined by interpolating linearly between (1) the U.S.
Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and (2) the U.S. Treasury
constant maturity so reported with the term closest to and less than such Remaining Average Life. The Reinvestment Yield shall
be rounded to the number of decimal places as appears in the interest rate of the applicable Note

 

“Remaining
Average Life” means, with respect to any Called Principal, the number of years obtained by dividing (i) such Called
Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment
with respect to such Called Principal by (b) the number of years, computed on the basis of a 360-day year comprised of twelve
30-day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal
and the scheduled due date of such Remaining Scheduled Payment.

 

“Remaining
Scheduled Payments” means, with respect to the Called Principal of any Note of any Series, all payments of such Called
Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment
of such Called Principal were made prior to its scheduled due date, provided that if such Settlement Date is not a date
on which interest payments are due to be made under the terms of the Notes of such Series, then the amount of the next succeeding
scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on
such Settlement Date pursuant to Section 8.2 or Section 12.1.

 

“Settlement
Date” means, with respect to the Called Principal of any Note of any Series, the date on which such Called Principal
is to be prepaid pursuant to Section 8.2 or has become or is declared to be immediately due and payable pursuant to Section 12.1,
as the context requires.

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In the event that the
Issuers shall incorrectly compute any Make-Whole Amount payable in connection with any Note to be prepaid, no Issuer nor any holder
of any Note shall be bound by such incorrect computation, but instead, shall be entitled to receive an amount equal to the correct
Make-Whole Amount (or a refund, in the case of the Issuers), as the case may be, computed in compliance with the terms of this
Agreement.

 

	9.	AFFIRMATIVE COVENANTS.

 

Each of the Issuers
covenants that so long as any of the Notes are outstanding:

 

	 	9.1.	Compliance with Law.

 

Each of the Issuers
will and will cause each of their Subsidiaries to comply with all laws, ordinances or governmental rules or regulations to which
each of them is subject, including, without limitation, Environmental Laws and the laws and regulations referred to in Section
5.16, and will obtain and maintain in effect all licenses, certificates, permits, franchises and other governmental authorizations
necessary to the ownership of their respective properties or to the conduct of their respective businesses, in each case to the
extent necessary to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain
or maintain in effect such licenses, certificates, permits, franchises and other governmental authorizations would not reasonably
be expected, individually or in the aggregate, to have a Material Adverse Effect.

 

	 	9.2.	Insurance.

 

Each of the Issuers
will and will cause each of their Subsidiaries to maintain, with financially sound and reputable insurers, insurance with respect
to their respective properties and businesses against such casualties and contingencies, of such types, on such terms and in such
amounts (including deductibles, co-insurance and self-insurance, if adequate reserves are maintained with respect thereto) as is
customary in the case of entities of established reputations engaged in the same or a similar business and similarly situated.

 

		9.3.	Maintenance of Properties.

 

Each of the Issuers
will and will cause each of their Subsidiaries to maintain and keep, or cause to be maintained and kept, their respective properties
in good repair, working order and condition (other than ordinary wear and tear), so that the business carried on in connection
therewith may be properly conducted at all times, provided that this Section shall not prevent any Issuer or any of its Subsidiaries
from discontinuing the operation and the maintenance of any of its properties if such discontinuance is desirable in the conduct
of its business and the Issuers have concluded that such discontinuance would not, individually or in the aggregate, have a Material
Adverse Effect.

 

	 	9.4.	Payment of Taxes.

 

Each of the Issuers
will and will cause each of their Subsidiaries to file all income tax or similar tax returns required to be filed in any jurisdiction
and to pay and discharge all taxes shown to be due and payable on such returns and all other taxes, assessments, governmental

    	25

    	

    

charges, or levies payable by any of them,
to the extent such taxes and assessments have become due and payable and before they have become delinquent and claims for which
sums have become due and payable that have or might become a Lien on properties or assets of any Issuer or any Subsidiary, provided
that none of the Issuers or any of their Subsidiaries need pay any such tax or assessment or claim if (a) the amount, applicability
or validity thereof is contested by such Issuer or such Subsidiary on a timely basis in good faith and in appropriate proceedings,
and such Issuer or such Subsidiary has established adequate reserves therefor in accordance with GAAP on the books of such Issuer
or such Subsidiary or (b) the nonpayment of all such taxes, assessments and claims in the aggregate would not reasonably be expected
to have a Material Adverse Effect.

 

	 	9.5.	Corporate Existence, etc.

 

Subject to Section
10.2, each of the Issuers will at all times preserve and keep in full force and effect its corporate or limited liability company,
as applicable, existence. Subject to Sections 10.2 and 10.3, each of the Issuers will at all times preserve and keep in full force
and effect the corporate or limited liability company, as applicable, existence of each of its Subsidiaries (unless merged into
the Company or another Subsidiary) and all rights and franchises of the Issuers and their Subsidiaries unless, in the good faith
judgment of such Issuer, the termination of or failure to preserve and keep in full force and effect such corporate or limited
liability company, as applicable, existence, right or franchise would not, individually or in the aggregate, have a Material Adverse
Effect.

 

	 	9.6.	Additional Subsidiary Guarantors.

 

The Company will cause
(a) each Subsidiary which is or becomes a Material Subsidiary (other than an Issuer) or which is designated by the Company as a
“Material Subsidiary” pursuant to Section 10.9 and (b) each entity that guarantees or becomes obligated with respect
to the obligations of the Company or any other Subsidiary under any Principal Credit Facility, in each case, to become a Subsidiary
Guarantor (provided, that with respect to clause (a) only, any such Subsidiary which is a Foreign Subsidiary will not be required
to become a Subsidiary Guarantor if becoming a Subsidiary Guarantor would result in adverse tax consequences to the Company and
its Subsidiaries) and concurrently therewith deliver to each holder of a Note:

 

(i) an executed
Subsidiary Guarantee Accession Agreement (as defined in the Subsidiary Guarantee);

 

(ii) a certificate
signed by an authorized responsible officer of such Subsidiary containing representations and warranties on behalf of such Subsidiary
to the same effect, mutatis mutandis, as those contained in Sections 5.1, 5.2, 5.6, 5.7 and 5.18 of this Agreement (but with respect
to such Subsidiary and such Subsidiary Guarantee Accession Agreement rather than the Company);

 

(iii) all
documents as may be reasonably requested by the Required Holders to evidence the due organization, continuing existence and, where
applicable, good standing of such Subsidiary and the due authorization by all requisite action on the part of such Subsidiary of
the execution and delivery of

    	26

    	

    

such Subsidiary Guarantee
Accession Agreement and the performance by such Subsidiary of its obligations thereunder and the Subsidiary Guarantee; and

 

(iv) an opinion
of counsel reasonably satisfactory to the Required Holders covering such matters relating to such Subsidiary and such Subsidiary
Guarantee Accession Agreement as the Required Holders may reasonably request.

 

(c) At
the election of the Company and by written notice to each holder of Notes, any Subsidiary Guarantor may be discharged from all
of its obligations and liabilities under its Subsidiary Guarantee and shall be automatically released from its obligations thereunder
without the need for the execution or delivery of any other document by the holders, provided that (i) if such Subsidiary Guarantor
is a guarantor or is otherwise liable for or in respect of any Principal Credit Facility, then such Subsidiary Guarantor has been
released and discharged (or will be released and discharged concurrently with the release of such Subsidiary Guarantor under its
Subsidiary Guarantee) under such Principal Credit Facility, (ii) at the time of, and after giving effect to, such release and discharge,
no Default or Event of Default shall be existing, (iii) no amount is then due and payable under such Subsidiary Guarantee, (iv)
if in connection with such Subsidiary Guarantor being released and discharged under any Principal Credit Facility, any fee or other
form of consideration is given to any holder of Indebtedness under such Principal Credit Facility for such release, the holders
of the Notes shall receive equivalent consideration substantially concurrently therewith and (v) each holder shall have received
a certificate of a Responsible Officer certifying as to the matters set forth in clauses (i) through (iv). In the event of any
such release, for purposes of Section 10.5, all Indebtedness of such Subsidiary shall be deemed to have been incurred concurrently
with such release.

 

	 	9.7.	Most Favored Lender.

 

(a) If
at any time any Principal Credit Facility includes any Net Worth Financial Covenant whether (i) in an existing Principal Credit
Facility, (ii) as a new provision in a new or existing Principal Credit Facility or (iii) by way of amendment or other modification
of an existing provision (or any defined term used therein), in each case, not included in this Agreement or that would be more
beneficial to the holders of the Notes than any analogous provision included in this Agreement (any such Net Worth Financial Covenant,
an “Additional Provision”), then the Issuers will, within three Business Days after the inclusion of such Additional
Provision in such Principal Credit Facility, deliver written notice thereof to each holder of a Note. Such notice shall be signed
by a Responsible Officer and shall refer to the provisions of this Section 9.7 and shall set forth a verbatim statement of such
Additional Provision and any defined terms used therein, and related explanatory calculations, as applicable. Thereupon, unless
waived in writing by the Required Holders within three Business Days after receipt of such notice by the holders of the Notes,
such Additional Provision (and any related definitions) will be deemed automatically incorporated by reference into this Agreement,
mutatis mutandis, as if set forth fully herein, without any further action required on the part of any Person, effective
as of the date that such Additional Provision became effective under such Principal Credit Facility. Thereafter, upon the request
of any holder of a Note, the Issuers will, at their expense, enter into any additional agreement or

    	27

    	

    

amendment to this Agreement reasonably
requested by such holder evidencing any of the foregoing.

 

(b) So
long as no Default or Event of Default has occurred and is continuing:

 

(i) if
any Additional Provision incorporated into this Agreement pursuant to this Section 9.7 is amended or otherwise modified in each
relevant Principal Credit Facility with the effect that such Additional Provision is made less restrictive or otherwise less onerous
on the Issuers and their Subsidiaries, then such Additional Provision will be deemed so amended in this Agreement, without any
further action required on the part of any Person, effective as of the date of such amendment or modification in each relevant
Principal Credit Facility,

 

(ii) if
any Additional Provision incorporated into this Agreement pursuant to this Section 9.7 is removed from each relevant Principal
Credit Facility, then such Additional Provision will be deemed removed from this Agreement, without any further action required
on the part of any Person, effective as of the date of such removal from each relevant Principal Credit Facility, and

 

(iii) if
each Principal Credit Facility including an Additional Provision incorporated into this Agreement pursuant to this Section 9.7
is terminated and no amounts are outstanding thereunder, then such Additional Provision will be deemed removed from this Agreement,
without any further action required on the part of any Person, effective as of the date of such termination,

 

provided that (x) except as provided
in Section 17, this Agreement shall not be amended to remove any covenant, undertaking, event of default, restriction or other
provision included in this Agreement (other than any Additional Provision included in this Agreement by operation of Section 9.7(a))
or to make any such provision less restrictive on the Issuers and their Subsidiaries, and (y) if any creditor or agent under any
Principal Credit Facility is provided any consideration for the amendment or other modification of such Principal Credit Facility,
then the holders of Notes shall (concurrently with the provision of such consideration to such creditor or agent) be provided with
equivalent consideration on a pro rata basis, and no such amendment, modification or removal of such Additional Provision in or
from this Agreement shall be effective unless and until such equivalent consideration is provided to the holders of Notes.

 

	10.	NEGATIVE COVENANTS.

 

Each of the Issuers
covenants that so long as any of the Notes are outstanding.

 

	 	10.1.	Transactions with Affiliates.

 

No Issuer will, and
no Issuer will permit any Subsidiary to, enter into directly or indirectly any Material transaction or Material group of related
transactions (including without limitation the purchase, lease, sale or exchange of properties of any kind or the rendering of
any service) with any Affiliate (other than the Company or another Subsidiary), except pursuant to

    	28

    	

    

the reasonable requirements of the Company’s
or such Subsidiary’s business and upon fair and reasonable terms no less favorable to the Company or such Subsidiary than
would be obtainable in a comparable arm’s length transaction with a Person not an Affiliate.

 

	 	10.2.	Mergers and Consolidations.

 

No Issuer will, nor
will it permit any Subsidiary Guarantor to, consolidate with or merge with any other Person or convey, transfer, sell or lease
all or substantially all of its assets in a single transaction or series of transactions to any Person (including, in each case,
pursuant to a Delaware LLC Division) unless:

 

(a) the
successor formed by such consolidation or the survivor of such merger or the Person that acquires by conveyance, transfer, sale
or lease all or substantially all of the assets of such Issuer or such Subsidiary Guarantor, as the case may be (the “Successor
Corporation”), shall be a solvent corporation or limited liability company organized and existing under the laws of
the United States or any State thereof (including the District of Columbia), and (i) except for any such transaction involving
only Issuers and/or only Subsidiary Guarantors or any such transaction where an Issuer and/or Subsidiary Guarantor is the Successor
Corporation of any such transaction, such corporation or limited liability company shall have executed and delivered to each holder
of any Notes its assumption of the due and punctual performance and observance of each covenant and condition of such Obligor
under the applicable Financing Documents in form and substance satisfactory to the Required Holders and (ii) shall have caused
to be delivered to each holder of any Notes an opinion reasonably satisfactory to the Required Holders of nationally recognized
independent counsel, or other independent counsel reasonably satisfactory to the Required Holders, to the effect that all agreements
or instruments effecting such assumption are enforceable in accordance with their respective terms (except as such enforceability
may be limited by (x) bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’
rights generally and (y) general principles of equity) and comply with the terms hereof; and

 

(b) immediately
after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing and the Company shall
have delivered to each holder of the Notes computations evidencing, on a pro forma basis, as if such transaction had occurred the
day before the last day of the most recently ended fiscal quarter, compliance (on consolidated basis) with Section 10.3, Section
10.4, Section 10.5, Section 10.6, Section 10.7 and Section 10.9.

 

No such conveyance,
transfer, sale or lease of all or substantially all of the assets of any Obligor shall have the effect of releasing such Obligor
or any Successor Corporation that shall theretofore have become such in the manner prescribed in this Section 10.2 from its liability
under (x) this Agreement or the Notes (in the case of the Issuers) or (y) the Subsidiary Guarantee (in the case of any Subsidiary
Guarantor), unless, in the case of the conveyance, transfer or lease of substantially all of the assets of a Subsidiary Guarantor,
such Subsidiary Guarantor is released

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from its Subsidiary Guarantee in accordance
with Section 9.6(c) in connection with or immediately following such conveyance, transfer, sale or lease.

 

	 	10.3.	Sale of Assets.

 

No Issuer will nor
will any Issuer permit any Subsidiary to make any Asset Disposition unless:

 

(a) in
the good faith opinion of the Company, the Asset Disposition is in exchange for consideration having a Fair Market Value at least
equal to that of the property exchanged and is in the best interest of the Company or such Subsidiary;

 

(b) immediately
after giving effect to the Asset Disposition, no Default or Event of Default would exist; and

 

(c) immediately
after giving effect to the Asset Disposition, the Disposition Value of all property that was the subject of any Asset Disposition
occurring during the 365 consecutive day period ending on and including the date of such Asset Disposition would not exceed 10%
of Consolidated Total Assets determined as of the end of the then most recently ended fiscal quarter of the Company.

 

If the Net Proceeds
arising from any Transfer are applied to a Debt Prepayment Application or a Property Reinvestment Application within 365 days after
such Transfer, then such Transfer, only for the purpose of determining compliance with subsection (c) of this Section 10.3 as of
any date, shall be deemed not to be an Asset Disposition as of the date of such application.

 

	 	10.4.	Limitation on Consolidated Debt.

 

The Company will not
permit the ratio of Consolidated Debt to Consolidated Total Capitalization, in each case as of the last day of each fiscal quarter
of the Company, to be greater than 0.60 to 1.00.

 

		10.5.	Limitation on Priority Debt.

 

The Company will not
at any time permit Priority Debt to exceed 25% of Consolidated Net Worth (determined as of the last day of the most recently ended
fiscal quarter of the Company).

 

	 	10.6.	Consolidated Interest Coverage Ratio.

 

The Company will not
permit, as of the end of any fiscal quarter, the ratio of (a) Consolidated EBITDA for the period of the immediately preceding four
full fiscal quarters of the Company ending on such date to (b) Consolidated Interest Charges for such period ending on such date,
to be less than 3.00 to 1.00.

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	 	10.7.	Limitation on Liens.

 

No Issuer will, nor
will any Issuer permit any Subsidiary to, directly or indirectly create, incur, assume or permit to exist any Lien on or with respect
to any property or assets (including, without limitation, any document or instrument in respect of goods or accounts receivable)
of any Issuer or any Subsidiary whether now owned or held or hereafter acquired, or any income or profits therefrom, or assign
or otherwise convey any right to receive income or profits except for the following:

 

(a) Liens
for taxes, assessments or other governmental charges which are not yet due and payable or the payment of which is not at the time
required by Section 9.4;

 

(b) statutory
Liens of landlords and Liens of carriers, warehousemen, mechanics, materialmen and other similar Liens, in each case, incurred
in the ordinary course of business for sums not yet due and payable or the payment of which is not at the time required by Section
9.4;

 

(c) Liens
(other than any Lien imposed by ERISA) incurred or deposits made in the ordinary course of business or the ownership of properties
and assets (i) in connection with workers’ compensation, unemployment insurance and other types of social security or retirement
benefits, or (ii) to secure (or to obtain letters of credit that secure) the performance of tenders, statutory obligations, surety
bonds, appeal bonds, bids, leases (other than Capital Leases), performance bonds, purchase, construction or sales contracts and
other similar obligations, in each case not incurred or made in connection with the borrowing of money, the obtaining of advances
or credit or the payment of the deferred purchase price of property;

 

(d) Liens
resulting from judgments, unless such judgments are not, within 90 days, discharged or stayed pending appeal, or shall not have
been discharged within 90 days after the expiration of any such stay;

 

(e) Liens
on property or assets of any Issuer securing Debt of a Subsidiary owed to the Company or to a Wholly-Owned Subsidiary;

 

(f) Liens
in existence on the date hereof and securing the Debt of the Company and its Subsidiaries as set forth in Schedule 5.15;

 

(g) minor
survey exceptions and the like which do not materially detract from the value of such property;

 

(h) Leases
or subleases granted to others, easements, rights-of-way, restrictions and other similar charges or encumbrances, in each case
incidental to, and not interfering with, the ownership of property or assets or the ordinary conduct of any Issuer’s or any
of its Subsidiaries’ businesses, provided that such Liens do not, in the aggregate, materially detract from the value
of such property;

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(i) Liens
securing any obligations of a Person existing at the time such Person becomes a Subsidiary or is merged into or consolidated with
the Company or a Subsidiary or Liens on an asset existing at the time such asset shall have first been acquired by the Company
or any Subsidiary, provided that (i) such Liens shall not extend to or cover any property other than the property subject
to such Liens immediately prior to such time, (ii) such Liens shall not have been created in contemplation of such merger, consolidation
or acquisition or such Person becoming a Subsidiary, and (iii) the principal amount of the obligations secured by such Liens is
not increased after such time;

 

(j) any
Lien created on tangible personal property (or any improvement thereon) to secure all or any part of the purchase price or cost
of construction, improvement or development of such tangible personal property (or any improvement thereon), or to secure Debt
incurred or assumed to pay all or any part of the purchase price or the cost of construction of tangible personal property (or
any improvement thereon) acquired or constructed by the Company or any Subsidiary after the date hereof, provided that

 

(i) the
principal amount of the Debt secured by any such Lien shall at no time exceed an amount equal to the lesser of (A) the cost to
the Company or such Subsidiary of the property (or improvement thereon) so acquired or constructed and (B) the Fair Market Value
(as determined in good faith by a Responsible Officer of such Person) of such property and any improvements thereon at the time
of such acquisition or construction;

 

(ii) each
such Lien shall extend solely to the item or items of property (or improvement thereon) so acquired or constructed and, if required
by the terms of the instrument originally creating such Lien, other property (or improvement thereon) which is an improvement to
or is acquired for specific use in connection with such acquired or constructed property (or improvement thereon); and

 

(iii) any
such Lien shall be created contemporaneously with, or within 180 days after, the acquisition or construction of such property (or
improvement thereon);

 

(k) any
Lien renewing, extending or refunding Liens permitted by paragraphs (i) and (j) of this Section 10.7, provided that (i)
the principal amount of the Debt secured by such Lien immediately prior to such renewal, extension or refunding is not increased
or the maturity thereof reduced, (ii) such Lien is not extended to any other property, and (iii) immediately after such extension,
renewal, or refunding, no Default or Event of Default would exist;

 

(l) customary
rights of setoff upon deposit accounts and securities accounts of cash in favor of banks or other depository institutions and securities
intermediaries; provided that (i) such deposit account or securities account is not a dedicated cash or securities collateral account
and is not subject to restrictions against access by the Company or any of its Subsidiaries owning the affected

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deposit or securities account or
other funds maintained with a creditor depository institution, and (ii) such deposit account or securities account does not provide
collateral to the depository institution or securities intermediary;

 

(m) 
Liens arising under cash management pooling arrangements entered into in the ordinary course of business; and

 

(n) Liens
not otherwise permitted by subsections (a) through (m) above, provided that Priority Debt shall not at any time exceed 25%
of Consolidated Net Worth (determined as of the end of the most recently ended fiscal quarter of the Company for which financial
statements have been provided), provided, further, notwithstanding the foregoing, that no Lien created pursuant this Section 10.7(n)
shall secure Debt owing under any Principal Credit Facility unless and until the Notes are equally and ratably secured by all property
subject to such Lien, in each case pursuant to documentation reasonably satisfactory to the Required Holders.

 

	 	10.8.	Nature of Business.

 

No Issuer will, nor
will any Issuer permit any Subsidiary to, engage to any substantial extent in any business, if as a result, when taken as a whole
together with the other Issuers and their Subsidiaries, the general nature of their businesses would be substantially changed from
the general nature of their businesses engaged in on the date hereof as described in the Presentation.

 

	 	10.9.	Material Subsidiaries.

 

The Company will not
permit the total assets of all Material Subsidiaries and the Company to be less than 85% of the Consolidated Total Assets as of
the end of the most recently completed fiscal quarter for which financial information is available, determined in accordance with
GAAP; provided, that the Company shall have the right to designate any of its Subsidiaries that is not then a Material Subsidiary
as a Material Subsidiary (regardless of whether it meets the requirements set forth in the definition of such term) in order to
comply with the provisions set forth in this Section, so long as such designation is made no later than the last day for delivery
of a compliance certificate pursuant to Section 7.2(a) for the fiscal quarter for which such designation is made.

 

	 	10.10.	Terrorism Sanctions Regulations.

 

The Company will not,
and will not permit any Controlled Entity to (a) become (including by virtue of being owned or controlled by a Blocked Person),
own or control a Blocked Person or (b) directly or, to the knowledge of the Company, indirectly have any investment in or engage
in any dealing or transaction (including any investment, dealing or transaction involving the proceeds of the Notes) with any Person
if such investment, dealing or transaction (i) would cause any holder or any affiliate of such holder to be in violation of, or
subject to sanctions under, any law or regulation applicable to such holder, or (ii) is prohibited by or subject to sanctions under
any U.S. Economic Sanctions Laws.

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	11.	EVENTS OF DEFAULT.

 

An “Event
of Default” shall exist if any of the following conditions or events shall occur and be continuing:

 

(a) any
Issuer defaults in the payment of any principal or Make-Whole Amount, if any, on any Note when the same becomes due and payable,
whether at maturity or at a date fixed for prepayment or by declaration or otherwise; or

 

(b) any
Issuer defaults in the payment of any interest on any Note for more than five Business Days after the same becomes due and payable;
or

 

(c) any
Issuer defaults in the performance of or compliance with any term contained in Section 9.6, Section 10 or any Additional Provision
and such default is not remedied within five Business Days after the earlier of (i) a Responsible Officer obtaining actual knowledge
of such default and (ii) the Company receiving written notice of such default from any holder of a Note (any such written notice
to be identified as a “notice of default” and to refer specifically to this paragraph (c) of Section 11); or

 

(d) any
Obligor defaults in the performance of or compliance with any term contained herein (other than those referred to in paragraphs
(a), (b) and (c) of this Section 11) or in any other Financing Document and such default is not remedied within 30 days after the
earlier of (i) a Responsible Officer obtaining actual knowledge of such default and (ii) the Company receiving written notice of
such default from any holder of a Note (any such written notice to be identified as a “notice of default” and to refer
specifically to this paragraph (d) of Section 11); or

 

(e) any
representation or warranty made in writing by or on behalf of any Obligor or by any officer of such Obligor in any Financing Document
or in any writing furnished in connection with the transactions contemplated hereby proves to have been false or incorrect in any
material respect on the date as of which made; or

 

(f) (i)
any Issuer or any Material Subsidiary is in default (as principal or as guarantor or other surety) in the payment of any principal
of or premium or make-whole amount or interest on any Debt that is outstanding in an aggregate principal amount of at least $50,000,000
beyond any period of grace provided with respect thereto, or (ii) any Issuer or any Material Subsidiary is in default in the performance
of or compliance with any term (including, without limitation, any Financial Covenant) of any evidence of any Debt in an aggregate
outstanding principal amount of at least $50,000,000 or of any mortgage, indenture or other agreement relating thereto or any other
condition exists, and as a consequence of such default or condition such Debt has become, or has been declared (or, solely with
respect to a default in the performance of or compliance with any Financial Covenant, one or more Persons are entitled to declare
such Debt to be) due and payable before its stated maturity or before its regularly scheduled dates of payment; or

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(g) any
Issuer or any Material Subsidiary (i) is generally not paying, or admits in writing its inability to pay, its debts as they become
due, (ii) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement
or any other petition in bankruptcy, for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium
or other similar law of any jurisdiction, (iii) makes an assignment for the benefit of its creditors, (iv) consents to the appointment
of a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part
of its property, (v) is adjudicated as insolvent or to be liquidated, or (vi) takes corporate or similar action for the purpose
of any of the foregoing; or

 

(h) a
court or governmental authority of competent jurisdiction enters an order appointing, without consent by any Issuer or any Material
Subsidiary, a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial
part of its property, or constituting an order for relief or approving a petition for relief or reorganization or any other petition
in bankruptcy or for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the
dissolution, winding-up or liquidation of any Issuer or any Material Subsidiary, or any such petition shall be filed against any
Issuer or any Material Subsidiary and such petition shall not be dismissed within 90 days; or

 

(i) a
final judgment or judgments for the payment of money aggregating in excess of $50,000,000 are rendered against one or more of the
Issuers and any of their Material Subsidiaries and which judgments are not (i) covered by independent third-party insurance as
to which the insurer does not dispute coverage or (ii) within 90 days after entry thereof, bonded, discharged, vacated, paid and
satisfied in full or stayed pending appeal, or are not discharged, vacated or paid and satisfied within 90 days after the expiration
of such stay; or

 

(j) [Intentionally
Omitted]; or

 

(k) if
(i) any Plan shall fail to satisfy the minimum funding standards of ERISA or the Code for any plan year or part thereof or a waiver
of such standards or extension of any amortization period is sought or granted under section 412 of the Code, (ii) a notice of
intent to terminate any Plan shall have been or is reasonably expected to be filed with the PBGC or the PBGC shall have instituted
proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have notified the
Issuers or any ERISA Affiliate that a Plan may become a subject of any such proceedings, (iii) there is any “amount of unfunded
benefit liabilities” (within the meaning of section 4001(a)(18) of ERISA) under one or more Plans, determined in accordance
with Title IV of ERISA, (iv) the aggregate present value of accrued benefit liabilities under all funded Non-U.S. Plans exceeds
the aggregate current value of the assets of such Non-U.S. Plans allocable to such liabilities, (v) any Issuer, any Material Subsidiary
or any ERISA Affiliate shall have incurred or is reasonably expected to incur any liability pursuant to Title I or IV of ERISA
or the penalty or excise tax provisions of the Code relating to employee

    	35

    	

    

benefit plans, or (vi) any Issuer
or any ERISA Affiliate withdraws from any Multiemployer Plan, (vii) any Issuer or any Material Subsidiary establishes or amends
any employee welfare benefit plan that provides post-employment welfare benefits in a manner that would increase the liability
of such Issuer or any Material Subsidiary thereunder, (viii) any Issuer or any Material Subsidiary fails to administer or maintain
a Non-U.S. Plan in compliance with the requirements of any and all applicable laws, statutes, rules, regulations or court orders
or any Non-U.S. Plan is involuntarily terminated or wound up, or (ix) any Issuer or any Material Subsidiary becomes subject to
the imposition of a financial penalty (which for this purpose shall mean any tax, penalty or other liability, whether by way of
indemnity or otherwise) with respect to one or more Non-U.S. Plans; and any such event or events described in clauses (i) through
(ix) above, either individually or together with any other such event or events, would reasonably be expected to have a Material
Adverse Effect; or

 

(l) any
Subsidiary Guarantee shall cease to be in full force and effect, any Subsidiary Guarantor or any Person acting on behalf of any
Subsidiary Guarantor shall contest in any manner the validity, binding nature or enforceability of any Subsidiary Guarantee, or
the obligations of any Subsidiary Guarantor under any Subsidiary Guarantee are not or cease to be legal, valid, binding and enforceable
in accordance with the terms of such Subsidiary Guarantee.

 

As used in this Section 11(k), the terms
“employee benefit plan” and “employee welfare benefit plan” shall have the respective meanings
assigned to such terms in section 3 of ERISA.

 

	12.	REMEDIES ON DEFAULT, ETC.

 

	 	12.1.	Acceleration.

 

(a) If
an Event of Default with respect to any Issuer described in Section 11(g) or 11(h) (other than an Event of Default described in
clause (i) of Section 11(g) or described in clause (vi) of paragraph (g) by virtue of the fact that such clause encompasses clause
(i) of Section 11(g)) has occurred, all the Notes then outstanding shall automatically become immediately due and payable.

 

(b) If
any other Event of Default has occurred and is continuing, the Required Holders may at any time at its or their option, by notice
or notices to the Company, declare all the Notes then outstanding to be immediately due and payable.

 

(c) If
any Event of Default described in Section 11(a) or 11(b) has occurred and is continuing, any holder or holders of Notes at the
time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to the Company,
declare all the Notes held by it or them to be immediately due and payable.

 

Upon any Notes becoming due and payable
under this Section 12.1, whether automatically or by declaration, such Notes will forthwith mature and the entire unpaid principal
amount of such Notes, plus (x) all accrued and unpaid interest thereon and (y) the Make-Whole Amount

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determined in respect of such principal
amount (to the full extent permitted by applicable law), shall all be immediately due and payable, in each and every case without
presentment, demand, protest or further notice, all of which are hereby waived. Each of the Issuers acknowledges, and the parties
hereto agree, that each holder of a Note has the right to maintain its investment in the Notes free from repayment by the Issuers
(except as herein specifically provided for) and that the provision for payment of a Make-Whole Amount by the Issuers in the event
that the Notes are prepaid or are accelerated as a result of an Event of Default, is intended to provide compensation for the deprivation
of such right under such circumstances.

 

	 	12.2.	Other Remedies.

 

If any Default or Event
of Default has occurred and is continuing, and irrespective of whether any Notes have become or have been declared immediately
due and payable under Section 12.1, the holder of any Note at the time outstanding may proceed to protect and enforce the rights
of such holder by an action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any
agreement contained herein, in any Note or in the Subsidiary Guarantee, or for an injunction against a violation of any of the
terms hereof or thereof, or in aid of the exercise of any power granted hereby or thereby or by law or otherwise.

 

	 	12.3.	Rescission.

 

At any time after any
Notes have been declared due and payable pursuant to clause (b) or (c) of Section 12.1, the Required Holders, by written notice
to the Company, may rescind and annul any such declaration and its consequences if (a) the Company has paid all overdue interest
on the Notes, all principal of and Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid other than by
reason of such declaration, and all interest on such overdue principal and Make-Whole Amount, if any, and (to the extent permitted
by applicable law) any overdue interest in respect of the Notes of any Series, at the Default Rate for such Series, (b) all Events
of Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been
cured or have been waived pursuant to Section 17, and (c) no judgment or decree has been entered for the payment of any monies
due pursuant hereto or to the Notes. No rescission and annulment under this Section 12.3 will extend to or affect any subsequent
Event of Default or Default or impair any right consequent thereon.

 

	 	12.4.	No Waivers or Election of Remedies, Expenses, etc.

 

No course of dealing
and no delay on the part of any holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or
otherwise prejudice such holder’s rights, powers or remedies. No right, power or remedy conferred by this Agreement, the
Subsidiary Guarantee or by any Note upon any holder thereof shall be exclusive of any other right, power or remedy referred to
herein or therein or now or hereafter available at law, in equity, by statute or otherwise. Without limiting the obligations of
the Issuers under Section 15, the Issuers will pay to the holder of each Note on demand such further amount as shall be sufficient
to cover all costs and expenses of such holder incurred in any enforcement or collection under this Section 12, including, without
limitation, reasonable attorneys’ fees, expenses and disbursements.

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	13.	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.

 

	 	13.1.	Registration of Notes.

 

The Company shall keep
at its principal executive office a register for the registration and registration of transfers of Notes. The name and address
of each holder of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall
be registered in such register. If any holder of one or more Notes is a nominee, then (a) the name and address of the beneficial
owner of such Note or Notes shall also be registered in such register as an owner and holder thereof and (b) at any such beneficial
owner’s option, either such beneficial owner or its nominee may execute any amendment, waiver or consent pursuant to this
Agreement. Prior to due presentment for registration of transfer, the Person in whose name any Note shall be registered shall be
deemed and treated as the owner and holder thereof for all purposes hereof, and the Company shall not be affected by any notice
or knowledge to the contrary. The Company shall give to any holder of a Note that is an Institutional Investor promptly upon request
therefor, a complete and correct copy of the names and addresses of all registered holders of Notes.

 

	 	13.2.	Transfer and Exchange of Notes.

 

Upon surrender of any
Note to the Company at the address and to the attention of the designated officer (all as specified in Section 18) for registration
of transfer or exchange (and in the case of a surrender for registration of transfer, duly endorsed or accompanied by a written
instrument of transfer duly executed by the registered holder of such Note or its attorney duly authorized in writing and accompanied
by the address and other information for notices of each transferee of such Note or part thereof), within 10 Business Days the
Issuers shall execute and deliver, at the Issuers’ expense (except as provided below), one or more new Notes of such Series
(as requested by the holder thereof) in exchange therefor, in an aggregate principal amount equal to the unpaid principal amount
of the surrendered Note and each bearing the same legend as appears on the surrendered Note provided, however, that the Company
shall not be required to execute any new Note, or register the transfer of any Note, to a transferee who is a Competitor of any
Obligor. Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of
such Note for such Series as set forth in Exhibit 1.1(a) or Exhibit 1.1(b), as applicable. Each such new Note shall
be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the
surrendered Note if no interest shall have been paid thereon. The Issuers may require payment of a sum sufficient to cover any
stamp tax or governmental charge imposed in respect of any such transfer of Notes. Notes shall not be transferred in denominations
of less than $250,000, provided that if necessary to enable the registration of transfer by a holder of its entire holding
of Notes, one Note may be in a denomination of less than $250,000. Each holder that transfers Notes shall be deemed to have represented
and warranted to the Issuers that such transfer has been effected in compliance with applicable securities laws. Any transferee,
by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the representation
set forth in Section 6 hereof and shall have agreed to abide by the provisions of Section 20 hereof.

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	 	13.3.	Replacement of Notes.

 

Upon receipt by the
Company at the address and to the attention of the designated officer (all as specified in Section 18) of evidence reasonably satisfactory
to it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an
Institutional Investor, notice from such Institutional Investor of such ownership and such loss, theft, destruction or mutilation),
and

 

(a) in
the case of loss, theft or destruction, of an executed certificate of loss including an indemnity reasonably satisfactory to it
(provided that if the holder of such Note is, or is a nominee for, an original purchaser or another holder of a Note with a minimum
net worth of at least $50,000,000, such Person’s own unsecured agreement of indemnity shall be deemed to be satisfactory),
or

 

(b) in
the case of mutilation, upon surrender and cancellation thereof,

 

within 10 Business Days, the Issuers at
their own expense shall execute and deliver, in lieu thereof, a new Note of the same Series, dated and bearing interest from the
date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen,
destroyed or mutilated Note if no interest shall have been paid thereon, bearing the same legend as appears on such lost, stolen,
destroyed or mutilated Note.

 

	14.	PAYMENTS ON NOTES.

 

	 	14.1.	Place of Payment.

 

Subject to Section
14.2, payments of principal, Make-Whole Amount, if any, and interest becoming due and payable on the Notes shall be made in Parsippany,
New Jersey at the principal office of the Company in such jurisdiction. The Issuers may at any time, by notice to each holder of
a Note, change the place of payment of the Notes so long as such place of payment shall be either the principal office of the Company
in the United States or the principal office of a bank or trust company in the United States.

 

	 	14.2.	Home Office Payment.

 

So long as any Purchaser
or its nominee shall be the holder of any Note, and notwithstanding anything contained in Section 14.1 or in such Note to the contrary,
the Issuers will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, and interest by the method and
at the address specified for such purpose opposite such Purchaser’s name in Schedule A, or by such other method or
at such other address as such Purchaser shall have from time to time specified to the Issuers in writing for such purpose, without
the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Issuers
made concurrently with or reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall surrender such
Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office or at the place
of payment most recently designated by the Issuers pursuant to Section 14.1. Prior to any sale or other disposition of any Note
held by any Purchaser or its nominee such Purchaser will, at its election, either endorse thereon the amount of principal paid
thereon and the last date

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to which interest has been paid thereon
or surrender such Note to the Company in exchange for a new Note or Notes pursuant to Section 13.2. The Issuers will afford the
benefits of this Section 14.2 to any Institutional Investor that is the direct or indirect transferee of any Note purchased by
such Purchaser under this Agreement and that has made the same agreement relating to such Note as such Purchaser has made in this
Section 14.2.

 

	 	14.3.	Status of Purchasers.

 

(a) Any
Purchaser or holder of Notes that is a “United States person” within the meaning of § 7701(a)(30) of the Code
shall deliver to the Company copies of executed originals of Internal Revenue Service Form W-9 or such other documentation or information
prescribed by applicable laws and reasonably requested by the Company as will enable the Company to determine whether or not such
Purchaser or holder of Notes is subject to backup withholding or information reporting requirements under the Code.

 

(b) Each
Purchaser or holder of Notes that is not a “United States person” within the meaning of § 7701(a)(30) of the
Code (a “foreign Purchaser”) and that is entitled to an exemption from or reduction of any United States withholding
tax (including each participant that acquired a participation from a foreign Purchaser) shall deliver to the Company (or, in the
case of a participant, to the Purchaser or holder of Notes from which the related participation shall have been purchased) in
such number of copies as shall be reasonably requested by the recipient on or prior to the date on which such foreign Purchaser
becomes a holder of a Note (or on or prior to the date on which such participant acquires its participation from a Purchaser or
a holder of Notes) (and from time to time thereafter upon the reasonable request of the Company or when a lapse in time or a change
in circumstance renders the prior certificates obsolete), but only if such foreign Purchaser is legally entitled to do so, whichever
of the following is applicable:

 

(i) executed
originals of Internal Revenue Service Form W 8BEN, W 8ECI or W 8IMY and any required supporting documentation (or any successor
or other applicable form prescribed by the IRS certifying as to such Purchaser’s or such holder’s entitlement to a
reduction of or complete exemption from United States withholding tax),

 

(ii) in
the case of a foreign Purchaser claiming the benefits of the exemption for portfolio interest under section 881(c) of the Code,
(x) a certificate to the effect that such foreign Purchaser is not (A) a “bank” within the meaning of section 881(c)(3)(A)
of the Code, (B) a “ten percent shareholder” of the Company within the meaning of section 881(c)(3)(B) of the Code,
or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code and (y) executed originals
of Internal Revenue Service Form W-8BEN, or

 

(iii) executed
originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in United States
Federal

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withholding tax duly completed
together with such supplementary documentation as may be prescribed by applicable law to permit the Company to determine the withholding
or deduction required to be made.

 

(c) If
a payment made to a Purchaser or holder of Notes hereunder would be subject to U.S. federal withholding Tax imposed by FATCA if
such Purchaser or such holder of Notes were to fail to comply with the applicable reporting requirements of FATCA (including those
contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Purchaser or such holder of Notes shall deliver to the
Company, at the time or times prescribed by law and at such time or times reasonably requested by the Company, such documentation
prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation
reasonably requested by the Company as may be necessary for the Company to comply with its obligations under FATCA, to determine
that such Purchaser or holder of Notes has or has not complied with such Purchaser’s or such holder’s obligations under
FATCA or to determine the amount to deduct and withhold from such payment.

 

(d) Each
Purchaser and each holder of Notes shall promptly notify the Company of any change in circumstances which would modify or render
invalid any such claimed exemption or reduction.

 

	15.	EXPENSES, ETC.

 

	 	15.1.	Transaction Expenses.

 

Whether or not the
transactions contemplated hereby are consummated, the Issuers will pay all costs and expenses (including reasonable attorneys’
fees of a special counsel and, if reasonably required, local or other counsel) incurred by each Purchaser or holder of a Note in
connection with such transactions and in connection with any amendments, waivers or consents under or in respect of this Agreement,
the Subsidiary Guarantee or the Notes (whether or not such amendment, waiver or consent becomes effective), including, without
limitation: (a) the costs and expenses incurred in enforcing or defending (or determining whether or how to enforce or defend)
any rights under this Agreement, the Subsidiary Guarantee or the Notes or in responding to any subpoena or other legal process
or informal investigative demand issued in connection with this Agreement, the Subsidiary Guarantee or the Notes, or by reason
of being a holder of any Note, and (b) the costs and expenses, including financial advisors’ fees, incurred in connection
with the insolvency or bankruptcy of any Obligor or any Subsidiary or in connection with any work-out or restructuring of the transactions
contemplated hereby, by the Notes and the Subsidiary Guarantee, provided, however, that the Issuers shall only be
liable under this Section 15.1 for the reasonable attorney’s fees of a single special counsel and, if reasonably required,
a single local counsel in each jurisdiction where any Issuer or Subsidiary Guarantor conducts business, in each case acting on
behalf of the holders of Notes as a group, unless, in the reasonable judgment of any holder of Notes a conflict exists between
such holder of Notes and any other holder of Notes, in which event the Issuers shall be obligated to pay the fees and expenses
of such additional counsel or counsels as shall be necessary to eliminate such conflict. The Issuers will pay, and will save each
Purchaser and each other holder of a Note harmless

    	41

    	

    

from, all claims in respect of any fees,
costs or expenses if any, of brokers and finders (other than those retained by any Purchaser).

 

	 	15.2.	Survival.

 

The joint and several
obligations of the Issuers under this Section 15 will survive the payment or transfer of any Note, the enforcement, amendment or
waiver of any provision of this Agreement, the Notes or the Subsidiary Guarantee, and the termination of this Agreement.

 

	16.	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.

 

All representations
and warranties contained herein shall survive the execution and delivery of this Agreement and the Notes, the purchase or transfer
by any Purchaser or any holder of any Note or portion thereof or interest therein and shall expire upon the payment in full of
all amounts in respect of the Notes, and may be relied upon by any subsequent holder of a Note, regardless of any investigation
made at any time by or on behalf of such Purchaser or any other holder of a Note. All statements contained in any certificate or
other instrument delivered by or on behalf of the Issuers pursuant to this Agreement shall be deemed representations and warranties
of the Issuers under this Agreement. Subject to the preceding sentence, this Agreement, the Subsidiary Guarantee and the Notes
embody the entire agreement and understanding between each Purchaser and the Issuers and supersede all prior agreements and understandings
relating to the subject matter hereof.

 

	17.	AMENDMENT AND WAIVER.

 

	 	17.1.	Requirements.

 

This Agreement and
the Notes may be amended, and the observance of any term hereof or of the Notes may be waived (either retroactively or prospectively),
with (and only with) the written consent of the Issuers and the Required Holders, except that (a) no amendment or waiver of any
of the provisions of any of Sections 1, 2, 3, 4, 5, 6 or 21 hereof, or any defined term (as it is used therein), will be effective
as to any Purchaser unless consented to by such Purchaser in writing, and (b) no such amendment or waiver may, without the written
consent of the holder of each Note at the time outstanding affected thereby, (i) subject to the provisions of Section 12 relating
to acceleration or rescission, change the amount or time of any prepayment or payment of principal of, or reduce the rate or change
the time of payment or method of computation of interest or of the Make-Whole Amount on, the Notes, (ii) change the percentage
of the principal amount of the Notes the holders of which are required to consent to any such amendment or waiver, or (iii) amend
any of Sections 8 (except as set forth in the second sentence of Section 8.2), 11(a), 11(b), 12, 17 or 20.

 

	 	17.2.	Solicitation of Holders of Notes.

 

(a) Solicitation.
The Issuers will provide each holder of a Note with sufficient information, sufficiently far in advance of the date a decision
is required, to enable such holder to make an informed and considered decision with respect to any proposed amendment, waiver or
consent in respect of any of the provisions hereof, the Subsidiary

    	42

    	

    

Guarantee or of the Notes. The Issuers
will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to the provisions of this
Section 17 to each holder of outstanding Notes promptly following the date on which it is executed and delivered by, or receives
the consent or approval of, the requisite holders of Notes.

 

(b) Payment.
The Issuers will not directly or indirectly pay or cause to be paid any remuneration, whether by way of supplemental or additional
interest, fee or otherwise, or grant any security, or other right or preferred treatment, to any holder of a Note as consideration
for or as an inducement to the entering into by any such holder of Notes of any waiver or amendment of any of the terms and provisions
hereof, of the Notes or of the Subsidiary Guarantee unless such remuneration is concurrently paid, or security is concurrently
granted, on the same terms, ratably to each such holder of a Note even if such holder did not consent to such waiver or amendment.

 

(c) Consent
in Contemplation of Transfer. Any consent made pursuant to this Section 17.2 by the holder of any Note that has transferred
or has agreed to transfer such Note to (i) the Company, (ii) any Subsidiary or any other Affiliate or (iii) any other Person in
connection with, or in anticipation of, such other Person acquiring, making a tender offer for or merging with the Company and/or
any of its Affiliates, in each case in connection with such consent, shall be void and of no force or effect except solely as to
such holder, and any amendments effected or waivers granted or to be effected or granted that would not have been or would not
be so effected or granted but for such consent (and the consents of all other holders of Notes that were acquired under the same
or similar conditions) shall be void and of no force or effect except solely as to such transferring holder.

 

	 	17.3.	Binding Effect, etc.

 

Any amendment or waiver
consented to as provided in this Section 17 applies equally to all holders of Notes and is binding upon them and upon each future
holder of any Note and upon the Issuers without regard to whether such Note has been marked to indicate such amendment or waiver.
No such amendment or waiver will extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly
amended or waived or impair any right consequent thereon. No course of dealing between any Issuer and the holder of any Note nor
any delay in exercising any rights hereunder or under any Note shall operate as a waiver of any rights of any holder of such Note.
As used herein, the term “Agreement” and references thereto shall mean this Agreement as it may from time to
time be amended or supplemented.

 

	 	17.4.	Notes held by the Issuers, etc.

 

Solely for the purpose
of determining whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved
or consented to any amendment, waiver or consent to be given under this Agreement, the Subsidiary Guarantee or the Notes, or have
directed the taking of any action provided herein, in the Subsidiary Guarantee or in the Notes to be taken upon the direction of
the holders of a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or indirectly
owned by any of the Issuers or any of their Affiliates shall be deemed not to be outstanding.

    	43

    	

    

	18.	NOTICES.

 

Except to the extent
otherwise provided in Section 7.4, all notices and communications provided for hereunder shall be in writing and sent (a) by telecopy
if the sender on the same day sends a confirming copy of such notice by an internationally recognized overnight delivery service
(charges prepaid), or (b) by registered or certified mail with return receipt requested (postage prepaid), or (c) by an internationally
recognized overnight delivery service (charges prepaid). Any such notice must be sent:

 

(i) if
to any Purchaser or its nominee, to such Purchaser or its nominee at the address specified for such communications in Schedule
A, or at such other address as such Purchaser or its nominee shall have specified to the Issuers in writing,

 

(ii) if
to any other holder of any Note, to such holder at such address as such other holder shall have specified to the Issuers in writing,
or

 

(iii) if
to any Issuer, at its address set forth at the beginning hereof to the attention of Marc O’Casal, telecopier: (973) 541-3699,
or at such other address as such Issuer shall have specified to the holder of each Note in writing.

 

A courtesy copy of any notices sent to
any holders of Notes shall also be sent to Morgan, Lewis & Bockius LLP, One State Street, Hartford, Connecticut 06103
to the attention of Heather L. Wenzel, Esq., telecopier: (860) 240-2800. Notices under this Section 18 will be deemed given only
when actually received.

 

	19.	REPRODUCTION OF DOCUMENTS.

 

This Agreement and
all documents relating hereto, including, without limitation, (a) consents, waivers and modifications that may hereafter
be executed, (b) documents received by any Purchaser at the Closing (except the Notes themselves), and (c) financial
statements, certificates and other information previously or hereafter furnished to the Purchasers, may be reproduced by the Purchasers
by any photographic, photostatic, microfilm, microcard, miniature photographic or other similar process and the Purchasers may
destroy any original document so reproduced. The Issuers agree and stipulate that, to the extent permitted by applicable law, any
such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding (whether
or not the original is in existence and whether or not such reproduction was made by such Purchaser in the regular course of business)
and any enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in evidence. This Section
19 shall not prohibit any Issuer or any other holder of Notes from contesting any such reproduction to the same extent that it
could contest the original, or from introducing evidence to demonstrate the inaccuracy of any such reproduction.

 

	20.	CONFIDENTIAL INFORMATION.

 

For the purposes of
this Section 20, “Confidential Information” means information delivered to any Purchaser by or on behalf of
the Company or any Subsidiary in connection with the transactions contemplated by or otherwise pursuant to this Agreement, provided
that such

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term does not include information that
(a) was publicly known or otherwise known to such Purchaser prior to the time of such disclosure, (b) subsequently becomes publicly
known through no act or omission by such Purchaser or any person acting on its behalf, (c) otherwise becomes known to such Purchaser
other than through disclosure by any Issuer or any Subsidiary or by any Person known by such Purchaser to be acting in breach of
any duty of confidentiality owed to any Issuer or any Subsidiary, or (d) constitutes financial statements delivered to such Purchaser
under Section 7.1 that are otherwise publicly available. Each Purchaser will maintain the confidentiality of such Confidential
Information in accordance with procedures adopted by such Purchaser in good faith to protect confidential information of third
parties delivered to such Purchaser, provided that such Purchaser may deliver or disclose Confidential Information to (i) such
Purchaser’s directors, officers, employees, agents, attorneys and affiliates, (to the extent such disclosure reasonably relates
to the administration of the investment represented by such Purchaser’s Notes), (ii) its financial advisors and other professional
advisors who agree to hold confidential the Confidential Information substantially in accordance with the terms of this Section
20, (iii) any other holder of any Note, (iv) any Institutional Investor to which such Purchaser sells or offers to sell such Note
or any part thereof or any participation therein (if such Person has agreed in writing prior to its receipt of such Confidential
Information to be bound by the provisions of this Section 20), (v) any Person from which such Purchaser offers to purchase any
security of the Issuers (if such Person has agreed in writing prior to its receipt of such Confidential Information to be bound
by the provisions of this Section 20), (vi) any federal or state regulatory authority having jurisdiction over such Purchaser,
(vii) the National Association of Insurance Commissioners or any similar organization, or any nationally recognized rating agency
that requires access to information about such Purchaser’s investment portfolio, (viii) any other Person to which such delivery
or disclosure may be necessary or appropriate (A) to effect compliance with any law, rule, regulation or order applicable to such
Purchaser, (B) in response to any subpoena or other legal process, (C) in connection with any litigation to which such Purchaser
is a party or (D) if an Event of Default has occurred and is continuing, to the extent such Purchaser may reasonably determine
such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of its rights and remedies
under its Notes, the Subsidiary Guarantee and this Agreement, or (ix) any and all Persons, without limitation, to the extent any
such Confidential Information pertains to the United States federal tax treatment and United States federal tax structure of the
transaction contemplated by this Agreement or constitutes materials of any kind (including opinions or other United States federal
tax analyses) that are provided to the holders of Notes relating to such United States federal tax treatment and United States
federal tax structure. The foregoing clause (ix) is intended to cause the transaction contemplated hereby not to be treated as
having been offered under conditions of confidentiality for purposes of Sections 1.6011-4(b)(3) and 301.6111-2(a)(2)(ii) (or any
successor provisions) of the United States Treasury Regulations issued under the Code and shall be construed in a manner consistent
with such purpose. Each holder of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by and to be entitled
to the benefits of this Section 20 as though it were a party to this Agreement. On reasonable request by the Issuers in connection
with the delivery to any holder of a Note of information required to be delivered to such holder under this Agreement or requested
by such holder (other than a holder that is a party to this Agreement or its nominee), such holder will enter into an agreement
with the Issuers embodying the provisions of this Section 20.

    	45

    	

    

In the event that as
a condition to receiving access to information relating to the Company or its Subsidiaries in connection with the transactions
contemplated by or otherwise pursuant to this Agreement, any Purchaser or holder of a Note is required to agree to a confidentiality
undertaking (whether through IntraLinks, another secure website, a secure virtual workspace or otherwise) which is different from
this Section 20, this Section 20 shall not be amended thereby and, as between such Purchaser or such holder and the Company, this
Section 20 shall supersede any such other confidentiality undertaking.

 

	21.	SUBSTITUTION OF PURCHASER.

 

Each Purchaser shall
have the right to substitute any one of its Affiliates as the purchaser of the Notes that such Purchaser has agreed to purchase
hereunder, by written notice to the Issuers, which notice shall be signed by both such Purchaser and such Affiliate, shall contain
such Affiliate’s agreement to be bound by this Agreement and shall contain a confirmation by such Affiliate of the accuracy
with respect to it of the representations set forth in Section 6. Upon receipt of such notice, wherever the word “Purchaser”
is used in this Agreement (other than in this Section 21), such word shall be deemed to refer to such Affiliate in lieu of such
original Purchaser. In the event that such Affiliate is so substituted as a purchaser hereunder and such Affiliate thereafter transfers
to such Purchaser all of the Notes then held by such Affiliate, upon receipt by the Issuers of notice of such transfer, wherever
the word “Purchaser” is used in this Agreement (other than in this Section 21), such word shall no longer be deemed
to refer to such Affiliate, but shall refer to such Purchaser, and such Purchaser shall have all the rights of an original holder
of the Notes under this Agreement.

 

	22.	MISCELLANEOUS.

 

	 	22.1.	Successors and Assigns.

 

All covenants and other
agreements contained in this Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their respective
successors and assigns (including, without limitation, any subsequent holder of a Note) whether so expressed or not, except that,
subject to Section 10.2, the Company may not assign or otherwise transfer any of its rights or obligations hereunder or under the
Notes without the prior written consent of each holder. Nothing in this Agreement, expressed or implied, shall be construed to
confer upon any Person (other than the parties hereto and their respective successors and assigns permitted hereby) any legal or
equitable right, remedy or claim under or by reason of this Agreement.

 

	 	22.2.	Payments Due on Non-Business Days.

 

Anything in this Agreement
or the Notes to the contrary notwithstanding (but without limiting the requirement in Section 8.6 that the notice of any optional
prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole Amount or interest
on any Note that is due on a date other than a Business Day shall be made on the next succeeding Business Day without including
the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; provided that if the
maturity date of any Note is a date other than a Business Day, the payment otherwise due on such maturity date shall be made on
the next succeeding Business Day and shall include the

    	46

    	

    

additional days elapsed in the computation of interest payable
on such next succeeding Business Day.

 

	 	22.3.	Severability.

 

Any provision of this
Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other
jurisdiction.

 

	 	22.4.	Accounting Terms.

 

(a) All accounting
terms used herein which are not expressly defined in this Agreement have the meanings respectively given to them in accordance
with GAAP. Except as otherwise specifically provided herein, (a) all computations made pursuant to this Agreement shall be made
in accordance with GAAP, and (b) all financial statements shall be prepared in accordance with GAAP. If the Issuers notify the
holders of Notes that, in the Issuers’ reasonable opinion, or if the Required Holders notify the Issuers that, in the Required
Holders’ reasonable opinion, as a result of changes in GAAP from time to time (“Subsequent Changes”),
any of the covenants contained in Sections 10.4, 10.5, 10.6, 10.7 or 10.9, or any of the defined terms used therein no longer apply
as intended such that such covenants are materially more or less restrictive to the Issuers than are such covenants immediately
prior to giving effect to such Subsequent Changes, the Issuers and the holders of Notes shall negotiate in good faith to reset
or amend such covenants or defined terms so as to negate such Subsequent Changes, or to establish alternative covenants or defined
terms. Until the Issuers and the Required Holders so agree to reset, amend or establish alternative covenants or defined terms,
the covenants contained in Sections 10.4, 10.5, 10.6, 10.7 and 10.9, together with the relevant defined terms, shall continue to
apply and compliance therewith shall be determined assuming that the Subsequent Changes shall not have occurred (“Static
GAAP”). During any period that compliance with any covenants shall be determined pursuant to Static GAAP, the Issuers
shall include relevant reconciliations in reasonable detail between GAAP and Static GAAP with respect to the applicable covenant
compliance calculations contained in each certificate of a Senior Financial Officer delivered pursuant to Section 7.2(a) during
such period. Subject to the immediately preceding sentence, at the sole election of the Company and upon written notice to the
registered holders of the Notes but without any requirement to obtain any prior consent or waiver from any holders of the Notes,
the Issuers and their Subsidiaries may adopt IFRS in lieu of GAAP for purposes of making all future computations and preparing
all future financial statements pursuant to this Agreement or any other Financing Document.

 

(b) For purposes
of determining compliance with the financial covenants contained in this Agreement, any election by the Company to measure an item
of Debt using fair value (as permitted by Financial Accounting Standards Board Accounting Standards Codification 825-10-25 (formerly
known as FASB 159) or any similar

    	47

    	

    

accounting standard) shall be disregarded and such
determination shall be made as if such election had not been made.

 

(c) Notwithstanding
anything to the contrary herein, at no time and under no circumstances shall any lease, which is or would be deemed by GAAP as
in effect prior to January 1, 2019 to be an operating lease, be treated as a finance lease for purposes of this Agreement, including,
without limitation, in determining compliance with Section 10.4, Section 10.5 or the calculation of the terms Consolidated Debt,
Consolidated Net Worth, Consolidated Total Assets or Debt, regardless of whether GAAP or any other form of accounting standards
are being applied at any such time or under any such circumstances.

 

	 	22.5.	Construction.

 

Each covenant contained
herein shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein,
so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with
any other covenant. Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from
taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person.

 

Defined terms herein
shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall
include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including”
shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to
have the same meaning and effect as the word “shall.” Unless the context requires otherwise (a) any definition of or
reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or
other document as from time to time amended, restated, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein) and, for purposes of the Notes, shall also include any such notes issued
in substitution therefor pursuant to Section 13, (b) subject to Section 22.1, any reference herein to any Person shall be construed
to include such Person’s successors and assigns, (c) the words “herein,” “hereof” and “hereunder,”
and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision
hereof, (d) all references herein to Sections, Exhibits and Schedules shall be construed to refer to Sections of, and Exhibits
and Schedules to, this Agreement, and (e) any reference to any law or regulation herein shall, unless otherwise specified, refer
to such law or regulation as amended, modified or supplemented from time to time

 

	 	22.6.	Counterparts.

 

(a) This Agreement
may be executed in any number of counterparts, each of which shall be an original but all of which together shall constitute one
instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all,
of the parties hereto. The parties agree to electronic contracting and signatures with respect to this Agreement and the other
Financing Documents (other than the Notes). Delivery of an electronic signature to, or a signed copy of, this

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Agreement and such other Financing
Documents (other than the Notes) by facsimile, email or other electronic transmission shall be fully binding on the parties to
the same extent as the delivery of the signed originals and shall be admissible into evidence for all purposes. The words “execution,”
“execute”, “signed,” “signature,” and words of like import in or related to any document to
be signed in connection with this Agreement and the other Financing Documents (other than the Notes) shall be deemed to include
electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by
the Company, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability
as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided
for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State
Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. Notwithstanding
the foregoing, if any Purchaser shall request manually signed counterpart signatures to any Financing Document, the Issuers hereby
agree to use its reasonable endeavors to provide such manually signed signature pages as soon as reasonably practicable.

 

(b) The parties
agree to electronic contracting and signatures with respect to each Note delivered hereunder in registered form. Delivery of an
electronic signature to, or a signed copy of, any Note in the name of a particular Purchaser by facsimile, email or other electronic
transmission shall be fully binding on the Issuers to the same extent as the delivery of the signed original of any such Note and
shall be admissible into evidence for all purposes, and each Issuer hereby expressly waives any defense related to a Purchaser’s
failure to present an original Note. Each Issuer further agrees that it shall produce a manually signed Note for delivery to each
Purchaser in accordance with the instructions provided by such Purchaser as soon as reasonably practicable.

 

	 	22.7.	Governing Law.

 

THIS AGREEMENT SHALL
BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK
EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER
THAN SUCH STATE.

 

	 	22.8.	Jurisdiction and Process; Waiver of Jury Trial.

 

(a) Each Issuer
irrevocably submits to the non-exclusive jurisdiction of any New York State or federal court sitting in the Borough of Manhattan,
The City of New York, over any suit, action or proceeding arising out of or relating to this Agreement, the Subsidiary Guarantee
or the Notes. To the fullest extent permitted by applicable law, each Issuer irrevocably waives and agrees not to assert, by way
of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that
it may now or hereafter have to the laying of the venue of any such suit,

    	49

    	

    

action or proceeding brought in
any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient
forum.

 

(b) The Company
agrees, to the fullest extent permitted by applicable law, that a final judgment in any suit, action or proceeding of the nature
referred to in Section 22.7(a) brought in any such court shall be conclusive and binding upon it subject to rights of appeal, as
the case may be, and may be enforced in the courts of the United States of America or the State of New York (or any other courts
to the jurisdiction of which it or any of its assets is or may be subject) by a suit upon such judgment.

 

(c) Each Issuer
consents to process being served by or on behalf of any holder of Notes in any suit, action or proceeding of the nature referred
to in Section 22.8(a) by mailing a copy thereof by registered, certified priority or express mail (or any substantially similar
form of mail), postage prepaid, return receipt or delivery confirmation requested, to it at its address specified in Section 18
or at such other address of which such holder shall then have been notified pursuant to said Section. Each Issuer agrees that such
service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such suit, action or proceeding
and (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal service upon and personal
delivery to it. Notices hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United
States Postal Service or any reputable commercial delivery service.

 

(d) Nothing
in this Section 22.8 shall affect the right of any holder of a Note to serve process in any manner permitted by law, or limit any
right that the holders of any of the Notes may have to bring proceedings against any Issuer in the courts of any appropriate jurisdiction
or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction.

 

(e) The parties
hereto hereby waive trial by jury in any action brought on or with respect to this Agreement, the Notes or any other document executed
in connection herewith or therewith.

 

[Remainder
of page intentionally left blank; next page is signature page.]

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If
each Purchaser is in agreement with the foregoing, please sign the form of agreement on the accompanying counterpart of this Agreement
and return it to the Issuers, whereupon the foregoing shall become a binding agreement between the Purchasers and the Issuers.

 

	 	Very truly yours,	 
	 	 	 
	 	CURTISS-WRIGHT CORPORATION	 
	 	CURTISS-WRIGHT CONTROLS, INC.	 
	 	METAL IMPROVEMENT COMPANY, LLC	 
	 	CURTISS-WRIGHT FLOW CONTROL CORPORATION	 
	 	CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC	 
	 	CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION	 
	 	CURTISS-WRIGHT SURFACE TECHNOLOGIES, LLC	 
	 	 	 	 
	 	By: 		 
	 	Name: Harry Jakubowitz	 
	 	Title:   Vice President & Treasurer	 
	 	 	 	 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

The foregoing is hereby

agreed to as of the

date thereof.

 

AMERICAN GENERAL LIFE INSURANCE COMPANY

	By:	AIG Asset Management (U.S.), LLC, as Investment Adviser
	 	 	 
	 	By:	             	 
	 	Name: Craig Moody	 
	 	Title: Vice President	 

 

THE VARIABLE ANNUITY LIFE INSURANCE COMPANY

	By:	AIG Asset Management (U.S.), LLC, as Investment Adviser
	 	 	 
	 	By:	             	 
	 	Name: Craig Moody	 
	 	Title: Vice President	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

 

	By:	 	 
	 	Name:	Ashley Dexter	 
	 	Title:	Second Vice President	 

 

PENSIONSKASSE DES BUNDES PUBLICA

	By:	PGIM Private Capital Limited, as Investment Manager
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:    Director	 

 

HEALTH OPTIONS, INC.

	By:	PGIM Private Placement Investors, L.P.
	 	(as Investment Advisor)
	 	 	 	 
	By:	PGIM Private Placement Investors, Inc.	 
	 	(as its General Partner)	 
	 	 	 	 
	 	By:	 	 
	 	 	Name: Ashley Dexter	 
	 	 	Title: Vice President	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

 

	By:	 	 
	 	Name:	Ashley Dexter	 
	 	Title:	Second Vice President	 

 

PENSIONSKASSE DES BUNDES PUBLICA

	By:	PGIM Private Capital Limited, as Investment Manager
	 	 	 	 
	 	By: 	  	 
	 	 	Name: Edward Jolly	 
	 	 	Title:   Director	 

 

HEALTH OPTIONS, INC.

	By:	PGIM Private Placement Investors, L.P.
	 	(as Investment Advisor)
	 	 	 	 
	By:	PGIM Private Placement Investors, Inc.	 
	 	(as its General Partner)	 
	 	 	 	 
	 	By:	 	 
	 	 	Name: Ashley Dexter	 
	 	 	Title: Vice President	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

STATE
FARM LIFE INSURANCE COMPANY

 

	By:        

	 
	Name:	Jeffrey Attwood                            	 
	Title: 	Investment Professional	 

 

	By:         

	 
	Name:	Rebekah L. Holt                                              	 
	Title:	Investment Professional	 

 

STATE FARM LIFE AND
ACCIDENT ASSURANCE COMPANY

 

	By:        

	 
	Name:	Jeffrey Attwood                            	 
	Title: 	Investment Professional	 

 

	By:         

	 
	Name:	Rebekah L. Holt                                              	 
	Title:	Investment Professional	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

MASSACHUSETTS
MUTUAL LIFE INSURANCE COMPANY

	By:	Barings LLC as Investment Adviser	 
	 	 	 
	 	By : 
	 
	 	Name:
    Elisabeth A. Perenick	 
	 	Title: Managing Director	 

 

C.M.
LIFE INSURANCE COMPANY

	By:	Barings LLC as Investment Adviser	 
	 	 	 
	 	By : 
	 
	 	Name:
    Elisabeth A. Perenick	 
	 	Title: Managing Director	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

TEACHERS
INSURANCE AND ANNUITY ASSOCIATION OF

AMERICA

	By:	Nuveen Alternatives Advisors LLC, its investment manager
	 	 	 
	 	By:  
	 
	 	Name: Ho Young Lee	 
	 	Title: Managing Director	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

SYMETRA
LIFE INSURANCE COMPANY

 

	By:  
	 
	Name: Yvonne Guajardo
	Title: Vice President and Managing Director	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

THE
GUARDIAN LIFE INSURANCE COMPANY OF AMERICA

 

	By:  
	 
	Name: Barry
Scheinholtz	 
	Title:   Managing Director	 

 

THE GUARDIAN INSURANCE &
ANNUITY COMPANY, INC.

 

	By:  
	 
	Name: Barry
Scheinholtz	 
	Title:   Managing Director	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

SOUTHERN
FARM BUREAU LIFE INSURANCE COMPANY

 

	By:  
	 
	Name: David Divine	 
	Title:   Director – Securities Management	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

UNITED
OF OMAHA LIFE INSURANCE COMPANY

 

	By: 
	 
	Name:	Lee Martin	 
	Title:	Vice President	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

AMERICAN UNITED LIFE INSURANCE COMPANY

 

	By:  
	 
	Name: David
M. Weisenburger	 
	Title: VP,
Fixed Income Securities	 

 

UNITED
FARM FAMILY LIFE INSURANCE COMPANY

	By:	American United Life Insurance Company
	Its:	Agent

 

	By:  
	 
	Name: David
M. Weisenburger	 
	Title: VP,
Fixed Income Securities	 

 

THE
STATE LIFE INSURANCE COMPANY

	By:	American United Life Insurance Company
	Its:	Agent

 

	By:  
	 
	Name: David
M. Weisenburger	 
	Title: VP,
Fixed Income Securities	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

The foregoing is hereby

agreed to as of the

date thereof.

 

USAA LIFE INSURANCE COMPANY

	By:	BlackRock Financial Management, Inc., as investment manager
	 	 	 
	 	By:  
	 
	 	Name:
    AnnMarie Smith	 
	 	Title: Authorized Signatory	 

 

USAA LIFE INSURANCE COMPANY OF NEW YORK

	By:	BlackRock Financial Management, Inc., as investment manager
	 	 	 
	 	By:  
	 
	 	Name:
    AnnMarie Smith	 
	 	Title: Authorized Signatory	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Note Purchase Agreement)

    	 

    	

    

SCHEDULE A

 

INFORMATION RELATING TO PURCHASERS

 

	Purchaser Name	AMERICAN GENERAL LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	HARE & CO., LLC	 
	Note Registration Number(s);

    Principal Amount(s)	RK-1; $17,250,000	 
	Payment on account of Note(s)	 	 
	 	 	 
	Method	Wire Transfer	 
	 	 	 
	 	The Bank of New York Mellon
	 	ABA #:	021-000-018
	 	Account Name:	BNYM Income
	 	Account Number:	GLA111566
	 	For Further Credit to:	AMERICAN GENERAL LIFE INS. CO.

    PHYSICAL; Account No. 886623
	 	 	 
	 	Reference: “Accompanying information” below
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 	 
	 	Description of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	PPN:                    23157#
    AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount)
    of the payment being made.
	Address / Fax # for Notices Related to Payments and Audit Confirms	American General Life Insurance Company (886623)

    c/o AIG Asset Management 

    2929 Allen Parkway, A36-04 

    Houston, Texas 77019-2155 

    Attn: PCG Investment Portfolio 

    Support Email: PPGIPS@aig.com
	 	 
	 	Duplicate payment notices (only) to:
	 	 
	 	American General Life Insurance Company (886623)
	 	c/o The Bank of New York Mellon
	 	Attn: P & I Department
	 	Fax: (718) 315-3076
	Address for All Other Notices and Compliance reporting information (financial docs, officer’s certificates, etc.)	AIG Asset Management 

    2929 Allen Parkway, A36-04 

    Houston, TX 77019-2155 

    Attn: Private Placements Compliance

    Email: complianceprivateplacements@aig.com
	 	 
	 	*Note: Only two (2) complete sets of compliance information are required for all companies which
    AIG Asset Management Group serves as investment adviser. 

    	Purchaser Schedule – A-1

    	

    

	Purchaser Name	AMERICAN GENERAL LIFE INSURANCE COMPANY
	Instructions re Delivery of Note(s)	DTCC
	 	570 Washington Blvd.
	 	Jersey City, NJ 07310
	 	Attn: BNY Mellon / Branch Deposit Department – 5th Floor
	 	Contact: Andre Granville; Phone: (315) 414-3068
	 	Account Name: AMERICAN GENERAL LIFE INSURANCE
	 	COMPANY
	 	Account Number: 886623
	 	cc: Jennifer.Cuellar@aig.com
	Signature Block Format	AMERICAN GENERAL LIFE INSURANCE COMPANY
	 	By: 	AIG Asset Management (U.S.), LLC, as Investment Adviser
	 	 
	 	 	By:                                                                      
	 	 	Name:
	 	 	Title:
	Tax Identification Number	(13-6062916) HARE & CO., LLC
	 	(25-0598210) American General Life Insurance Company

    	Purchaser Schedule – A-2

    	

    

	Purchaser Name	AMERICAN GENERAL LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	HARE & CO., LLC	 
	Note Registration Number(s);

    Principal Amount(s)	RK-2; $7,500,000	 
	Payment on account of Note(s)	 	 
	 	 	 
	Method	Wire Transfer	 
	 	 
	 	The Bank of New York Mellon
	 	ABA #:	021-000-018
	 	Account Name:	BNYM Income
	 	Account Number:	GLA111566
	 	For Further Credit to:	AMERICAN GENERAL LIFE INS. CO.
	 	 	SAMRE; Account No. 990986
	 	 
	 	Reference: “Accompanying information” below
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	 
	 	Description of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:                    23157#
    AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount)
    of the payment being made.
	Address / Fax # for Notices Related to Payments and Audit Confirms	American
    General Life Insurance Company SAMRE (990986) 

    c/o AIG Asset Management 

    2929 Allen Parkway, A36-04 

    Houston, Texas 77019-2155 

    Attn: PCG Investment Portfolio Support 

    Email: PPGIPS@aig.com
	 	 
	 	Duplicate payment notices (only) to:
	 	 
	 	American General Life Insurance Company SAMRE (990986)
	 	c/o The Bank of New York Mellon
	 	Attn: P & I Department	 
	 	Fax: (718) 315-3076	 
	Address for All Other Notices and Compliance reporting information (financial docs, officer’s
    certificates, etc.)	AIG
    Asset Management 

    2929 Allen Parkway, A36-04 

    Houston, TX 77019-2155 

    Attn: Private Placements Compliance 

    Email: complianceprivateplacements@aig.com
	 	 
	 	*Note: Only two (2) complete sets of compliance information are required
    for all companies which AIG Asset Management Group serves as investment adviser.

    	Purchaser Schedule – A-3

    	

    

	Purchaser Name	AMERICAN GENERAL LIFE INSURANCE COMPANY
	Instructions re Delivery of Note(s)	DTCC
	 	570 Washington Blvd.
	 	Jersey City, NJ 07310
	 	Attn: BNY Mellon / Branch Deposit Department – 5th Floor
	 	Contact: Andre Granville; Phone: (315) 414-3068
	 	Account Name: AMERICAN GENERAL LIFE INSURANCE
	 	COMPANY SAMRE
	 	Account Number: 990986
	 	cc: Jennifer.Cuellar@aig.com
	Signature Block Format	AMERICAN GENERAL LIFE INSURANCE COMPANY
	 	By:	 AIG Asset Management (U.S.), LLC, as Investment Adviser
	 	 
	 	 	By:                                                                      
	 	 	Name:
	 	 	Title:
	Tax Identification Number	(13-6062916) HARE & CO., LLC
	 	(25-0598210) American General Life Insurance Company

    	Purchaser Schedule – A-4

    	

    

	Purchaser Name	THE VARIABLE ANNUITY LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	HARE & CO., LLC	 
	Note Registration Number(s);

    Principal Amount(s)	RK-3; $17,250,000	 
	Payment on account of Note(s)	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	The Bank of New York Mellon
	 	ABA #:	021-000-018
	 	Account Name:	BNYM Income
	 	Account Number:	GLA111566
	 	For Further Credit to:	VARIABLE ANNUITY LIFE INSURANCE
	 	 	CO.; Account No. 260735
	 	 
	 	Reference: “Accompanying information” below
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	 
	 	Description of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:                    23157#
    AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount)
    of the payment being made.
	Address / Fax # for Notices Related to Payments and Audit Confirms	The
    Variable Annuity Life Insurance Company (260735) 

    c/o AIG Asset Management 

    2929 Allen Parkway, A36-04 

    Houston, Texas 77019-2155 

    Attn: PCG Investment Portfolio Support 

    Email: PPGIPS@aig.com
	 	 
	 	Duplicate payment notices (only) to:
	 	 
	 	The Variable Annuity Life Insurance Company (260735)
	 	c/o The Bank of New York Mellon
	 	Attn: P & I Department
	 	Fax: (718) 315-3076
	Address for All Other Notices and Compliance reporting information (financial docs, officer’s
    certificates, etc.)	AIG
    Asset Management 

    2929 Allen Parkway, A36-04 

    Houston, TX 77019-2155 

    Attn: Private Placements Compliance 

    Email: complianceprivateplacements@aig.com
	 	 
	 	*Note: Only two (2) complete sets of compliance information are required
    for all companies which AIG Asset Management Group serves as investment adviser.

    	Purchaser Schedule – A-5

    	

    

	Purchaser
    Name	THE VARIABLE ANNUITY LIFE
    INSURANCE COMPANY
	Instructions re Delivery of Note(s)	DTCC
	 	570 Washington Blvd.
	 	Jersey City, NJ 07310
	 	Attn: BNY Mellon / Branch Deposit Department – 5th Floor
	 	Contact: Andre Granville; Phone: (315) 414-3068
	 	Account Name: THE VARIABLE ANNUITY LIFE INSURANCE
	 	COMPANY
	 	Account Number: 260735
	 	cc: Jennifer.Cuellar@aig.com
	Signature Block Format	THE VARIABLE ANNUITY LIFE INSURANCE COMPANY
	 	By: 	AIG Asset Management (U.S.), LLC, as Investment Adviser
	 	 
	 	 	By:                                                                      
	 	 	Name:
	 	 	Title:
	Tax Identification Number	(13-6062916) HARE & CO., LLC
	 	(74-1625348) The Variable Annuity Life Insurance Company

    	Purchaser Schedule – A-6

    	

    

	Purchaser Name	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
	Name in Which to Register Note(s)	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
	Note Registration Number(s);

    Principal Amount(s)	RK-4; $23,420,000
	Payment on account of Note(s)	 
	 	 
	Method	Wire Transfer
	 	 
	 	JPMorgan Chase Bank, NA
	 	New York, NY
	 	ABA No.: 021000021
	 	Account Name: Prudential Managed Portfolio
	 	Account No.: P86188 (please do not include spaces)
	 	 
	 	Reference: 	Security No. INV08622 and “Accompanying information” below
	Accompanying Information	Name of Company: 	CURTISS-WRIGHT CORPORATION
	 	 
	 	 
	 	Description of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:                    23157# AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
	Address / Fax # / Email for all notices and communications	The Prudential Insurance Company of America 

    c/o Prudential Private Capital 

    1114 Avenue of Americas 

    30th Floor 

    New York, NY 10036
	 	 
	 	Attention: Managing Director
	 	cc: Vice President and Corporate Counsel
	 	 
	 	and for all notices relating solely to scheduled principal and interest payments to:
	 	 
	 	The Prudential Insurance Company of America
	 	c/o PGIM, Inc.
	 	Prudential Tower
	 	655 Broad Street
	 	14th Floor - South Tower
	 	Newark, NJ 07102
	 	 
	 	Attention: PIM Private Accounting Processing Team
	 	Email: Pim.Private.Accounting.Processing.Team@prudential.com

    	Purchaser Schedule – A-7

    	

    

	Purchaser
    Name	THE PRUDENTIAL INSURANCE COMPANY
    OF AMERICA
	Instructions re Delivery of Note(s)	Send physical security by nationwide overnight delivery service to:
	 	 
	 	PGIM, Inc.
	 	655 Broad Street
	 	14th Floor - South Tower
	 	Newark, NJ 07102
	 	 
	 	Attention: Trade Management Manager
	 	 
	 	Send copy by email to:
	 	 
	 	Thais Alexander
	 	thais.alexander@prudential.com
	 	(212) 626-2067
	 	 
	 	and
	 	 
	 	Private.Disbursements@Prudential.com
	Signature Block Format	THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
	 	 
	 	By:                                                                      
	 	Second Vice President
	Tax Identification Number	22-1211670

    	Purchaser Schedule – A-8

    	

    

	Purchaser Name	PENSIONSKASSE DES BUNDES PUBLICA
	Name in Which to Register Note(s)	PENSIONSKASSE DES BUNDES PUBLICA
	Note Registration Number(s);

    Principal Amount(s)	RK-5; $13,580,000
	Payment on account of Note(s)	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	JP Morgan Chase Bank N.A.
	 	Swift BIC: CHASGB2L
	 	London
	 	IBAN: GB43CHAS60924241363959
	 	Account Name: JPMorgan Chase Bank, N.A.
	 	Account No.: 001-0-962009
	 	For further credit to Account
    Number: GTI EAW94 PUBLICA - PRIVATE PLACEMENT PRUDENTIAL
	 	 
	 	Reference: “Accompanying Information” below
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:                    23157#
    AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount)
    of the payment being made.
	Address / Fax # / Email for all notices and communications	Prudential Private Placement Investors, L.P. 

    c/o Prudential Private Capital 

    1114 Avenue of Americas 

    30th Floor 

    New York, NY 10036
	 	 
	 	Attention: Managing Director
	 	cc: Vice President and Corporate Counsel
	 	 
	 	and for all notices relating
    solely to scheduled principal and interest payments to:
	 	 
	 	ASC.GSA.Delivery.Team@jpmorgan.com
	 	Swiss.IFAS.Service.Team@jpmorgan.com

    	Purchaser Schedule – A-9

    	

    

	Purchaser Name	PENSIONSKASSE DES BUNDES PUBLICA
	Instructions re Delivery of Note(s)	Send physical security by nationwide overnight delivery service to:
	 	 
	 	JPMorgan Chase Bank, N.A.
	 	4 Chase Metrotech Center, 3rd Floor
	 	Brooklyn, NY 11245-0001
	 	 
	 	Attention: Physical Receive Department
	 	 
	 	Please include in the cover letter accompanying the Notes a reference to the Purchaser's account number (PUBLICA -
    PRIVATE PLACEMENT PRUDENTIAL; Account Number: GTI EAW94).
	 	 
	 	Send copy by email to:
	 	 
	 	Thais Alexander
	 	thais.alexander@prudential.com
	 	(212) 626-2067
	 	 
	 	and
	 	 
	 	Private.Disbursements@Prudential.com
	Signature Block Format	PENSIONSKASSE DES BUNDES PUBLICA
	 	By: 	PGIM Private Capital Limited, as Investment Manager
	 	 
	 	 	By:                                                                      
	 	 	Director
	Tax Identification Number	ZPV 230’763’575

    	Purchaser Schedule – A-10

    	

    

	Purchaser Name	HEALTH OPTIONS, INC.
	Name in Which to Register Note(s)	HARE & CO.
	Note Registration Number(s);

    Principal Amount(s)	RK-6; $5,000,000
	Payment on account of Note(s)	 
	 	 
	Method	Wire Transfer
	 	 
	 	The Bank Of New York Mellon
	 	New York, NY
	 	ABA No.: 021000018
	 	Account Name: Income Collections Dept
	 	Account No.: GLA 111566
	 	For further credit to Account Number: 234917
	 	 
	 	Reference: “Accompanying Information” below
	Accompanying Information	Name of Company:             CURTISS-WRIGHT CORPORATION
	 	 
	 	 
	 	Description of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:                    23157#
    AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment
    being made.
	Address / Fax # / Email for all notices and communications	Prudential Private Placement Investors, L.P. 

    c/o Prudential Private Capital 

    1114 Avenue of Americas 

    30th Floor 

    New York, NY 10036
	 	 
	 	Attention: Managing Director
	 	cc: Vice President and Corporate Counsel
	 	 
	 	and for all notices
    relating solely to scheduled principal and interest payments to:
	 	 
	 	The Bank of New York
	 	Income Collection Department
	 	P.O. Box 19266
	 	Jersey City, NJ 07310
	 	Attn: Income Collection Department
	 	Email: ppservicing@bnymellon.com

    	Purchaser Schedule – A-11

    	

    

	Purchaser Name	HEALTH OPTIONS, INC.
	Instructions re Delivery of Note(s)	Send physical security by nationwide overnight delivery service to:
	 	 
	 	The Depository Trust Company (DTC)
	 	570 Washington Blvd. - 5th Floor
	 	Jersey City, NJ 07310
	 	Attn: BNY Mellon / Branch Deposit Department
	 	Ref: Account 234917, Prudential Private Placements
	 	 
	 	Send copy by email to:
	 	 
	 	Thais Alexander
	 	thais.alexander@prudential.com
	 	(212) 626-2067
	 	 
	 	and	 
	 	 
	 	Private.Disbursements@Prudential.com
	Signature Block Format	HEALTH OPTIONS, INC.
	 	By:	PGIM Private Placement Investors, L.P.
	 	 	(as Investment Advisor)
	 	 
	 	By:	PGIM Private Placement Investors, Inc.
	 	 	(as its General Partner)
	 	 
	 	 	By:                                                                      
	 	 	Vice President
	Tax Identification Number	59-2403696

    	Purchaser Schedule – A-12

    	

    

	Purchaser Name	STATE FARM LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	STATE FARM LIFE INSURANCE COMPANY
	Note Registration Number(s);

    Principal Amount(s)	RJ-1; $40,000,000
	 	 
	Payment on account of Note(s)	 
	 	 
	Method	Wire Transfer
	 	 
	 	Please contact our Investment Department to securely obtain wire transfer instructions
    for State Farm Life Insurance Company.
	 	 
	 	E-mail: privateplacements@statefarm.com
	 	Phone: (309) 766-2386
	 	 
	 	Re: “Accompanying Information” below
	 	 
	 	Providing sufficient information to identify the source of the transfer, including issuer,
    CUSIP number, interest rate, maturity date, and whether payment is interest, principal, or premium.
	Accompanying Information	Name of Company:             CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:                    23157#
    AK5
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment
    being made.
	Address / Fax # / Email for all notices and communications	State Farm Life Insurance Company 

    Investment Dept. E-8 

    One State Farm Plaza 

    Bloomington, IL 61710
	 	 
	 	E-Mail: privateplacements@statefarm.com
	 	 
	 	With a copy to:
	 	State Farm Life Insurance Company
	 	Investment Accounting Dept. D-3
	 	One State Farm Plaza
	 	Bloomington, IL 61710
	Instructions re Delivery of Note(s)	JPMorgan Chase Bank, N.A.
	 	4 Chase Metrotech Center
	 	3rd Floor
	 	Brooklyn, New York 11245-0001
	 	Attention: Physical Receive Department
	 	Account: G06893

    	Purchaser Schedule – A-13

    	

    

	Purchaser Name	STATE FARM LIFE INSURANCE COMPANY
	Signature Block Format	STATE FARM LIFE INSURANCE COMPANY
	 	 
	 	By:                                                                      
	 	Name:
	 	Title:
	 	 
	 	By:                                                                      
	 	Name:
	 	Title:
	Tax Identification Number	37-0533090

    	Purchaser Schedule – A-14

    	

    

	Purchaser Name	STATE FARM LIFE AND ACCIDENT ASSURANCE COMPANY
	Name in Which to Register Note(s)	STATE FARM LIFE AND ACCIDENT ASSURANCE COMPANY
	Note Registration Number(s);

    Principal Amount(s)	RJ-2; $2,000,000
	Payment on account of Note(s)	 
	 	 
	Method	Wire Transfer
	 	 
	 	Please contact our Investment Department to securely obtain wire transfer instructions for State Farm Life and Assurance
    Company.
	 	 
	 	E-mail: privateplacements@statefarm.com
	 	Phone: (309) 766-2386
	 	 
	 	Re: “Accompanying Information” below
	 	 
	 	Providing sufficient information to identify the source of the transfer, including issuer, CUSIP number, interest rate,
    maturity date, and whether payment is interest, principal, or premium.
	Accompanying Information	Name of Company:             CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:                    23157#
    AK5
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
	Address / Fax # / Email for all notices and communications	State Farm Life and Accident Assurance Company 

    Investment Dept. E-8 

    One State Farm Plaza 

    Bloomington, IL 61710
	 	 
	 	E-Mail: privateplacements@statefarm.com
	 	 
	 	With a copy to:
	 	State Farm Life and Accident Assurance Company
	 	Investment Accounting Dept. D-3
	 	One State Farm Plaza
	 	Bloomington, IL 61710
	Instructions re Delivery of Note(s)	JPMorgan Chase Bank, N.A.
	 	4 Chase Metrotech Center
	 	3rd Floor
	 	Brooklyn, New York 11245-0001
	 	Attention: Physical Receive Department
	 	Account: G06895

    	Purchaser Schedule – A-15

    	

    

	Purchaser Name	STATE FARM LIFE AND ACCIDENT ASSURANCE COMPANY
	Signature Block Format	STATE FARM LIFE AND ACCIDENT ASSURANCE COMPANY
	 	 
	 	By:                                                                      
	 	Name:
	 	Title:
	 	 
	 	By:                                                                      
	 	Name:
	 	Title:
	Tax Identification Number	37-0805091

    	Purchaser Schedule – A-16

    	

    

	Purchaser Name	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
	Note Registration Number(s);	RJ-3; $27,000,000
	Principal Amount(s)	RK-7; $9,100,000
	Payment on account of Note(s)	 
	 	 
	Method	Wire Transfer
	 	 
	 	MassMutual
	 	Citibank
	 	New York, New York
	 	ABA # 021000089
	 	Acct # 30510685
	 	 
	 	Reference: “Accompanying information” below
	 	 
	 	With advice of payment to the Treasury Operations Securities Management Department at Massachusetts
    Mutual Life Insurance Company at mmincometeam@massmutual.com or (413) 226-4295 (facsimile).
	Accompanying Information	Name of Company:             CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:                    23157#
    AK5
	 	 
	 	Description of
    Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:                    23157#
    AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment
    being made.
	Address / Fax # / Email for notices related to payments	Massachusetts Mutual Life Insurance Company 

    Treasury Operations Securities Management 

    1295 State Street

    Springfield, MA 01111

    Attn: Janelle Tarantino
	 	 
	 	With a copy to:
	 	Massachusetts Mutual Life Insurance Company
	 	c/o Barings LLC
	 	300 South Tryon Street – Suite 2500
	 	Charlotte, NC 28202

    	Purchaser Schedule – A-17

    	

    

	Purchaser Name	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
	Address / Fax # / Email for all other notices (including electronic delivery of financials)	Massachusetts Mutual Life Insurance Company 

    c/o Barings LLC 

    300 South Tryon Street – Suite 2500 

    Charlotte, NC 28202
	 	 
	 	With notification to:
	 	privateplacements@barings.com
	 	pdgportfolioadmin@barings.com
	 	john.wheeler@barings.com
	 	Nicole.campellone@barings.com
	Instructions re Delivery of Note(s)	Massachusetts Mutual Life Insurance Company
	 	1295 State Street, MIP: E415
	 	Springfield, MA 01111
	 	Attention: Janelle Tarantino, Treasury Operations Securities Management
	 	Telephone: 413-744-1885
	 	E-mail: Jtarantino@massmutual.com
	 	 
	 	With a copy to:
	 	Michelle.kearney@barings.com
	 	Diane.murphy@barings.com
	 	Brian.fitzgerald@barings.com
	 	Ashleigh.bobbitt@barings.com
	 	Kate.fletcher@barings.com
	Signature Block Format	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
	 	By: 	Barings LLC as Investment Adviser
	 	 
	 	 	By:                                                                      
	 	 	Name:
	 	 	Title:
	Tax Identification Number	04-1590850

    	Purchaser Schedule – A-18

    	

    

	Purchaser Name	C.M. LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	C.M. LIFE INSURANCE COMPANY
	Note Registration Number(s);	RJ-4; $5,000,000
	Principal Amount(s)	RK-8; $900,000
	Payment on account of Note(s)	 
	 	 
	Method	Wire Transfer
	 	 
	 	JP Morgan Chase Bank
	 	New York, NY
	 	ABA # 021000021
	 	Account Name: CM Life Insurance Company
	 	Account Number: 771061371
	 	 
	 	Reference: “Accompanying information” below
	 	 
	 	With advice of payment to the Treasury Operations Securities Management Department at Massachusetts Mutual Life Insurance
    Company at mmincometeam@massmutual.com or (413) 226-4295 (facsimile).
	Accompanying Information	Name of Company:             CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:                    23157#
    AK5
	 	 
	 	Description of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:                    23157#
    AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
	Address / Fax # / Email for notices related to payments	C.M. Life Insurance Company 

    Treasury Operations Securities Management 

    1295 State Street 

    Springfield, MA 01111 

    Attn: Janelle Tarantino
	 	 
	 	With a copy to:
	 	C.M. Life Insurance Company
	 	c/o Barings LLC
	 	300 South Tryon Street – Suite 2500
	 	Charlotte, NC 28202

    	Purchaser Schedule – A-19

    	

    

	Purchaser Name	C.M. LIFE INSURANCE COMPANY
	Address / Fax # / Email for all other notices (including electronic delivery of financials)	C.M. Life Insurance Company 

    c/o Barings LLC 

    300 South Tryon Street – Suite 2500 

    Charlotte, NC 28202
	 	 
	 	With notification to:
	 	privateplacements@barings.com
	 	pdgportfolioadmin@barings.com
	 	john.wheeler@barings.com
	 	Nicole.campellone@barings.com
	Instructions re Delivery of Note(s)	Massachusetts Mutual Life Insurance Company
	 	1295 State Street, MIP: E415
	 	Springfield, MA 01111
	 	Attention: Janelle Tarantino, Treasury Operations Securities Management
	 	Telephone: 413-744-1885
	 	E-mail: Jtarantino@massmutual.com
	 	 
	 	With a copy to:
	 	Michelle.kearney@barings.com
	 	Diane.murphy@barings.com
	 	Brian.fitzgerald@barings.com
	 	Ashleigh.bobbitt@barings.com
	 	Kate.fletcher@barings.com
	Signature Block Format	C.M. LIFE INSURANCE COMPANY
	 	By: 	Barings LLC as Investment Adviser
	 	 
	 	 	By:                                                                      
	 	 	Name:
	 	 	Title:
	Tax Identification Number	06-1041383

    	Purchaser Schedule – A-20

    	

    

	Purchaser Name	TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA
	Name in Which to Register Note(s)	TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA
	Note Registration Number(s);	RJ-5; $13,000,000
	Principal Amount(s)	RK-9; $29,000,000
	Payment on account of Note(s)	 
	 	 
	Method	All payments on or in respect of the Notes shall be made in immediately available funds on the due date by electronic
    funds transfer, through the Automated Clearing House System, to the account provided by separate cover to the Issuer.
	 	 
	 	Reference: “Accompanying information” below
	Accompanying Information	Name of Company:              CURTISS-WRIGHT CORPORATION
	 	 
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:                    23157#
    AK5
	 	 
	 	Description of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:                    23157#
    AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
	Address / Fax # / Email for all notices related to payments and prepayments	Teachers Insurance and Annuity Association of America 

    730 Third Avenue 

    New York, New York 10017 

    Attention: Securities Accounting Division 

    Phone: (212) 916-5504 

    Facsimile: (212) 916-4699
	 	 
	 	With a copy to:
	 	 
	 	JPMorgan Chase Bank, N.A.
	 	P.O. Box 35308
	 	Newark, New Jersey 07101
	 	 
	 	Contemporaneous written confirmation of any electronic funds transfer shall be sent to the above addresses setting forth
    (1) the full name, private placement number, interest rate and maturity date of the Notes, (2) allocation of payment between
    principal, interest, Make-Whole Amount, other premium or any special payment and (3) the name and address of the bank from
    which such electronic funds transfer was sent.

    	Purchaser Schedule – A-21

    	

    

	Purchaser Name	TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA
	Address / Fax # / Email for all notices and communications, including notices with respect
    to payments and prepayments	Teachers Insurance and Annuity Association of America 

    c/o Nuveen Alternatives Advisors LLC 

    8500 Andrew Carnegie Blvd 

    Charlotte, NC 28262
	 	Attention: Private Placements
	 	E-mail:	NuveenPrivatePlacements@nuveen.com
	 	 	DL_InvestmentsCenterofExcellence@tiaa.org
	 	 	KCTIAAGenCustodian@StateStreet.com
	 	 	KCTIAAGenInvManagers@StateStreet.com
	 	 
	 	Telephone:	(704) 988-4349 (Name: Ho-Young Lee)
	 	 	(212) 916-4000 (General Number)
	 	Facsimile:	(704) 988-4916
	 	 
	 	With a copy to:	 
	 	 
	 	Nuveen Alternatives Advisors LLC
	 	8500 Andrew Carnegie Boulevard
	 	Charlotte, North Carolina 28262-8500
	 	Attention:	Legal Dept.
	 	Attention:	Noelle Sproul, Counsel
	 	E-mail:	Noelle.sproul@nuveen.com
	 	Telephone:	(704) 988-7906
	 	 	(212) 916-4000 (General Number)
	 	 
	 	All Servicer Reports (or the equivalent) shall be delivered electronically
	 	to:	 
	 	Email:	NuveenPrivatePlacements@nuveen.com
	 	 	DL_Valuations-PrivateABS@tiaa.org
	Instructions re Delivery of Note(s)	Address provided under separate cover to the Issuer
	Signature Block Format	TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA
	 	By:          Nuveen Alternatives Advisors LLC, its investment manager
	 	 
	 	                By:                                                                      
	 	                Name:
	 	                Title:
	Tax Identification Number	13-1624203	 

    	Purchaser Schedule – A-22

    	

    

	Purchaser
    Name	SYMETRA
    LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	CUDD AND CO.	 
	Note Registration Number(s);	RJ-6; $14,000,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	Bank:	 	JPMORGAN CHASE BANK, NEW YORK
	 	SWIFT BIC:	CHASUS33
	 	ABA:	 	021000021
	 	Account:	 	9009000200
	 	FFC Account Number:	G 27515
	 	FFC Account Name:	Symetra Life Insurance Company
	 	 
	 	Reference: “Accompanying information” below
	 	 
	 	For all payments other than scheduled payments of principal and interest, the Company shall seek instructions
    from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner
    set forth above.
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:	23157# AK5
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of
    the payment being made.
	Address / Fax # / Email for all notices related to payments	All notices of payments and written confirmations of such wire transfers delivered ELECTRONICALLY to:
	 	 
	 	Email: privateplacement@symetra.com and
	 	InvestmentOperationsMailbox@symetra.com
	 	 
	 	Any such notices required to be sent by hard-copy delivered to:
	 	 
	 	SYMETRA INVESTMENT MANAGEMENT COMPANY
	 	308 Farmington Avenue, 3rd Floor
	 	Farmington, CT 06032	 
	 	Attention: Nate Zaientz	 

 

Purchaser Schedule – A-23

	 

	

    

	Purchaser
    Name	SYMETRA LIFE INSURANCE COMPANY
	Address / Fax # / Email for all notices and communications	SYMETRA INVESTMENT MANAGEMENT COMPANY

308 Farmington Avenue, 3rd Floor
	 	Farmington, CT 06032
	 	Attention: Managing Director, Private Placements
	 	Email: privateplacement@symetra.com
	 	 
	 	with a COPY to:
	 	 
	 	SYMETRA LIFE INSURANCE COMPANY
	 	777 108th Avenue NE, Suite 1200
	 	Bellevue, WA 98004
	 	Attention: Law Department, Investments
	 	Email: katie.von.geldern@symetra.com
	Instructions re Delivery of Note(s)	JPMORGAN CHASE BANK NA
	 	ATTN: CHERYL BROWN
	 	4 CHASE METROTECH CENTER
	 	3RD FLOOR – PHYSICAL RECEIVE DEPT
	 	BROOKLYN, NY 11245-0001
	 	REFERENCE ACCOUNTS: G 27515
	Signature Block Format	SYMETRA LIFE INSURANCE COMPANY
	 	 
	 	By:                                                                       
	 	Name: Yvonne Guajardo
	 	Title: Vice President and Managing Director
	Tax Identification Number	91-0742147

 

Purchaser Schedule – A-24

	 

	

    

	Purchaser Name	SYMETRA LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	CUDD AND CO.	 
	Note Registration Number(s);	RJ-7; $5,000,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	Bank:	 	JPMORGAN CHASE BANK, NEW YORK
	 	SWIFT BIC:	CHASUS33
	 	ABA:	 	021000021
	 	Account:	 	9009000200
	 	FFC Account Number:	G 27501
	 	FFC Account Name:	Symetra Life Insurance Company
	 	 
	 	Reference: “Accompanying information” below
	 	 
	 	For all payments other than scheduled payments of principal and interest, the Company
    shall seek instructions from the holder, and in the absence of instructions to the contrary, will make such payments to the
    account and in the manner set forth above.
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:	23157# AK5
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of
    the payment being made.
	Address / Fax # / Email for all notices related to payments	All notices of payments and written confirmations of such wire transfers delivered
    ELECTRONICALLY to:
	 	 
	 	Email: privateplacement@symetra.com and
	 	InvestmentOperationsMailbox@symetra.com
	 	 
	 	Any such notices required to be sent by hard-copy delivered to:
	 	 
	 	SYMETRA INVESTMENT MANAGEMENT COMPANY
	 	308 Farmington Avenue, 3rd Floor
	 	Farmington, CT 06032	 
	 	Attention: Nate Zaientz	 

 

Purchaser Schedule – A-25

	 

	

    

	Purchaser Name	SYMETRA LIFE INSURANCE COMPANY
	Address / Fax # / Email for all notices and communications	SYMETRA INVESTMENT MANAGEMENT COMPANY

308 Farmington Avenue, 3rd Floor
	 	Farmington, CT 06032
	 	Attention: Managing Director, Private Placements
	 	Email: privateplacement@symetra.com
	 	 
	 	with a COPY to:
	 	 
	 	SYMETRA LIFE INSURANCE COMPANY
	 	777 108th Avenue NE, Suite 1200
	 	Bellevue, WA 98004
	 	Attention: Law Department, Investments
	 	Email: katie.von.geldern@symetra.com
	Instructions re Delivery of Note(s)	JPMORGAN CHASE BANK NA
	 	ATTN: CHERYL BROWN
	 	4 CHASE METROTECH CENTER
	 	3RD FLOOR – PHYSICAL RECEIVE DEPT
	 	BROOKLYN, NY 11245-0001
	 	REFERENCE ACCOUNTS: G 27501
	Signature Block Format	SYMETRA LIFE INSURANCE COMPANY
	 	 
	 	By:                                                                       
	 	Name: Yvonne Guajardo
	 	Title: Vice President and Managing Director
	Tax Identification Number	91-0742147

 

Purchaser Schedule – A-26

	 

	

    

	Purchaser Name	SYMETRA LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	CUDD AND CO.	 
	Note Registration Number(s);	RJ-8; $3,000,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	Bank:	 	JPMORGAN CHASE BANK, NEW YORK
	 	SWIFT BIC:	CHASUS33
	 	ABA:	 	021000021
	 	Account:	 	9009000200
	 	FFC Account Number:	G 27504
	 	FFC Account Name:	Symetra Life Insurance Company
	 	 
	 	Reference: “Accompanying information” below
	 	 
	 	For all payments other than scheduled payments of principal and interest, the Company shall seek instructions
    from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner
    set forth above.
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:	23157# AK5
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
	Address / Fax # / Email for all notices related to payments	All notices of payments and written confirmations of such wire transfers delivered ELECTRONICALLY to:
	 	 
	 	Email: privateplacement@symetra.com and
	 	InvestmentOperationsMailbox@symetra.com
	 	 
	 	Any such notices required to be sent by hard-copy delivered to:
	 	 
	 	SYMETRA INVESTMENT MANAGEMENT COMPANY
	 	308 Farmington Avenue, 3rd Floor
	 	Farmington, CT 06032	 
	 	Attention: Nate Zaientz	 

 

Purchaser Schedule – A-27

	 

	

    

	Purchaser Name	SYMETRA LIFE INSURANCE COMPANY
	Address / Fax # / Email for all notices and communications	SYMETRA INVESTMENT MANAGEMENT COMPANY

308 Farmington Avenue, 3rd
    Floor
	 	Farmington, CT 06032
	 	Attention: Managing Director, Private Placements
	 	Email: privateplacement@symetra.com
	 	 
	 	with a COPY to:
	 	 
	 	SYMETRA LIFE INSURANCE COMPANY
	 	777 108th Avenue NE, Suite 1200
	 	Bellevue, WA 98004
	 	Attention: Law Department, Investments
	 	Email: katie.von.geldern@symetra.com
	Instructions re Delivery of Note(s)	JPMORGAN CHASE BANK NA
	 	ATTN: CHERYL BROWN
	 	4 CHASE METROTECH CENTER
	 	3RD FLOOR – PHYSICAL RECEIVE DEPT
	 	BROOKLYN, NY 11245-0001
	 	REFERENCE ACCOUNTS: G 27504
	Signature Block Format	SYMETRA LIFE INSURANCE COMPANY
	 	 
	 	By:                                                                       
	 	Name: Yvonne Guajardo
	 	Title: Vice President and Managing Director
	Tax Identification Number	91-0742147

 

Purchaser Schedule – A-28

	 

	

    

	Purchaser
    Name	SYMETRA
    LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	CUDD AND CO.	 
	Note Registration Number(s);	RJ-9; $3,000,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	Bank:	 	JPMORGAN CHASE BANK, NEW YORK
	 	SWIFT BIC:	CHASUS33
	 	ABA:	 	021000021
	 	Account:	 	9009000200
	 	FFC Account Number:	G 27513
	 	FFC Account Name:	Symetra Life Insurance Company
	 	 
	 	Reference: “Accompanying information” below
	 	 
	 	For all payments other than scheduled payments of principal and interest, the Company shall seek instructions
    from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner
    set forth above.
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:	23157# AK5
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
	Address / Fax # / Email for all notices related to payments	All notices of payments and written confirmations of such wire transfers delivered ELECTRONICALLY to:
	 	 
	 	Email: privateplacement@symetra.com and
	 	InvestmentOperationsMailbox@symetra.com
	 	 
	 	Any such notices required to be sent by hard-copy delivered to:
	 	 
	 	SYMETRA INVESTMENT MANAGEMENT COMPANY
	 	308 Farmington Avenue, 3rd Floor
	 	Farmington, CT 06032	 
	 	Attention: Nate Zaientz	 

 

Purchaser Schedule – A-29

	 

	

    

	Purchaser Name	SYMETRA LIFE INSURANCE COMPANY
	Address / Fax # / Email for all notices and communications	SYMETRA INVESTMENT MANAGEMENT COMPANY

308 Farmington Avenue, 3rd Floor
	 	Farmington, CT 06032
	 	Attention: Managing Director, Private Placements
	 	Email: privateplacement@symetra.com
	 	 
	 	with a COPY to:
	 	 
	 	SYMETRA LIFE INSURANCE COMPANY
	 	777 108th Avenue NE, Suite 1200
	 	Bellevue, WA 98004
	 	Attention: Law Department, Investments
	 	Email: katie.von.geldern@symetra.com
	Instructions re Delivery of Note(s)	JPMORGAN CHASE BANK NA
	 	ATTN: CHERYL BROWN
	 	4 CHASE METROTECH CENTER
	 	3RD FLOOR – PHYSICAL RECEIVE DEPT
	 	BROOKLYN, NY 11245-0001
	 	REFERENCE ACCOUNTS: G 27513
	Signature Block Format	SYMETRA LIFE INSURANCE COMPANY
	 	 
	 	By:                                                                       
	 	Name: Yvonne Guajardo
	 	Title: Vice President and Managing Director
	Tax Identification Number	91-0742147

 

Purchaser Schedule – A-30

	 

	

    

	Purchaser Name	THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (PRIF-W)
	Name in Which to Register Note(s)	THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA
	Note Registration Number(s);	RJ-10; $13,000,000	 
	Principal Amount(s)	RK-10; $7,000,000	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	JP Morgan Chase	 
	 	FED ABA #021000021
	 	Chase/NYC/CTR/BNF
	 	A/C 900-9-000200	 
	 	Reference A/C #G05978, Guardian Life (PRIF-W), and “Accompanying information” below
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:	23157# AK5
	 	 
	 	Description of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:	23157# AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment being made
	Address / Fax # / Email for all notices and communications	The Guardian Life Insurance Company of America

    10 Hudson Yards
	 	New York, NY 10001
	 	Attn: Barry Scheinholtz
	 	Investment Department
	 	FAX # (212) 919-2658
	 	Email address: bscheinholtz@glic.com
	 	With a copy to GuardianUSPP@glic.com
	Instructions re Delivery of Note(s)	JP Morgan Chase Bank, N.A.
	 	4 Chase Metrotech Center – 3rd Floor
	 	Brooklyn, NY 11245-0001
	 	Reference A/C #G05978, Guardian Life (PRIF-W)
	Signature Block Format	THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA
	 	 
	 	By:                                                                       
	 	Name:	 	 
	 	Title:	 	 
	Tax Identification Number	13-5123390	 
	 	 	 	 	 

 

Purchaser Schedule – A-31

	 

	

    

	Purchaser Name	THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
	Name in Which to Register Note(s)	THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
	Note Registration Number(s);	RJ-11; $2,000,000	 
	Principal Amount(s)	RK-11; $1,000,000	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	JP Morgan Chase	 
	 	FED ABA #021000021
	 	Chase/NYC/CTR/BNF
	 	A/C 900-9-000200	 
	 	Reference A/C # G01713, GIAC Fixed Payout, and “Accompanying information” below
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:	23157# AK5
	 	 
	 	Description of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:	23157# AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment being made
	Address / Fax # / Email for all notices and communications	The Guardian Insurance & Annuity Company, Inc.

c/o The Guardian Life Insurance Company of America
	 	10 Hudson Yards	 
	 	New York, NY 10001
	 	Attn: Barry Scheinholtz
	 	Investment Department
	 	FAX # (212) 919-2658
	 	Email address: bscheinholtz@glic.com
	 	With a copy to GuardianUSPP@glic.com
	Instructions re Delivery of Note(s)	JP Morgan Chase Bank, N.A.
	 	4 Chase Metrotech Center – 3rd Floor
	 	Brooklyn, NY 11245-0001
	 	Reference A/C # G01713, GIAC Fixed Payout
	Signature Block Format	THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
	 	 
	 	By:                                                                       
	 	Name:	 	 
	 	Title:	 	 
	Tax Identification Number	13-2656036	 
	 	 	 	 	 

 

Purchaser Schedule – A-32

	 

	

    

	Purchaser
    Name	AMERICAN UNITED LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	AMERICAN UNITED LIFE INSURANCE COMPANY
	Note Registration Number(s);	RJ-12; $7,000,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	Bank of New York	 
	 	ABA #: 021000018	 
	 	Credit Account: GLA111566
	 	Account Name: American United Life Insurance Company
	 	Account #: 186683	 
	 	P & I Breakdown: (Insert)
	 	Ref: “Accompanying Information” below
	 	 
	 	Payments should contain sufficient information to identify the breakdown of principal and interest and should
    identify the full description of the note(s) and the payment date.
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:	23157# AK5
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
	Address / Fax # / Email for all notices and communications	American United Life Insurance Company

    Attn: Mike Bullock, Securities Department
	 	One American Square, Suite 1017
	 	Post Office Box 368	 
	 	Indianapolis, IN 46206
	 	mike.bullock@oneamerica.com
	Instructions re Delivery of Note(s)	The Depository Trust Company
	 	Attn: BNY Mellon/Branch Deposit Dept.
	 	Acct # 186683 American United Life Ins. Co.
	 	570 Washington Blvd. – 5th Floor
	 	Jersey City, NJ 07310
	Signature Block Format	AMERICAN UNITED LIFE INSURANCE COMPANY
	 	 
	 	By:                                                                       
	 	Name:	 	 
	 	Title:	 	 
	Tax Identification Number	35-0145825	 	 
	 	 	 	 	 

 

Purchaser Schedule – A-33

	 

	

    

	Purchaser Name	UNITED FARM FAMILY LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	UNITED FARM FAMILY LIFE INSURANCE COMPANY
	Note Registration Number(s);	RJ-13; $1,000,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	The Northern Trust Company
	 	ABA 071000152	 
	 	Trust Wire Account #5186061000
	 	A/C: UFF Life Insurance Company
	 	A/C#: 26-30867	 
	 	Attn: Laura Hirsch or Paul Campbell
	 	Ref: “Accompanying Information” below
	 	 
	 	Payments should contain sufficient information to identify the breakdown of principal and interest and should
    identify the full description of the note(s) and the payment date.
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:	23157# AK5
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
	Address / Fax # / Email for all notices of payment and all POST-CLOSING documentation	Soft copy to:	 
	Roger.mccarty@infarmbureau.com
	 	 	 
	 	Or paper copy to:	 
	 	 
	 	Indiana Farm Bureau Insurance
	 	Investment Accounting Department
	 	P.O. Box 1250	 
	 	Indianapolis, IN 46206-1250
	Address / Fax # / Email for all other notices and communications	American United Life Insurance Company

    Attn: Mike Bullock, Securities Department
	 	One American Square, Suite 1017
	 	Post Office Box 368	 
	 	Indianapolis, IN 46206
	 	mike.bullock@oneamerica.com
	Instructions re Delivery of Note(s)	The Northern Trust Company
	 	Trade Securities Processing, C-1N
	 	801 South Canal Street
	 	Acct # 26-30867 / UFF Life Insurance Company
	 	Chicago, IL 60607	 

 

Purchaser Schedule – A-34

	 

	

    

	Purchaser Name	UNITED
    FARM FAMILY LIFE INSURANCE COMPANY
	Signature Block Format	UNITED FARM FAMILY LIFE INSURANCE COMPANY
	 	By:	American United Life Insurance Company
	 	Its:	Agent
	 	 	 
	 	By: _______________________________
	 	Name:	 
	 	Title:	 
	Tax Identification Number	35-1097117

 

Purchaser Schedule – A-35

	 

	

    

	Purchaser
    Name	THE STATE LIFE INSURANCE
    COMPANY
	Name in Which to Register Note(s)	THE STATE LIFE INSURANCE COMPANY
	Note Registration Number(s);	RK-12; $3,000,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 	 
	 	The Bank of New York Mellon
	 	ABA #: 021000018	 
	 	Credit Account: GLA111566
	 	Account Name: The State Life Insurance Company Finance Reinsurance
	 	Account #: 211624	 
	 	Re: “Accompanying Information” below
	 	P & I Breakdown: (Insert)
	 	 
	 	Payments should contain sufficient information to
    identify the breakdown of principal and interest and should identify the full description of the note(s) and the payment date.
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	 
	 	Description of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:	23157# AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
	Address / Fax # / Email for all notices and communications	American United Life Insurance Company

    Attn: Mike Bullock, Securities Department
	 	One American Square, Suite 1017
	 	Post Office Box 368	 
	 	Indianapolis, IN 46206
	 	mike.bullock@oneamerica.com
	Instructions re Delivery of Note(s)	The Depository Trust Company
	 	Attn: BNY Mellon/Branch Deposit Dept.
	 	Acct # 211624 State Life, c/o AUL
	 	570 Washington Blvd. – 5th Floor
	 	Jersey City, NJ 07310
	Signature Block Format	THE STATE LIFE INSURANCE COMPANY
	 	By:        American United Life Insurance Company
	 	Its:        Agent	 
	 	 
	 	By: _______________________________
	 	Name:	 	 
	 	Title:	 	 
	Tax Identification Number	35-0684263	 	 
	 	 	 	 	 

 

Purchaser Schedule – A-36

	 

	

    

	Purchaser Name	THE STATE LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	THE STATE LIFE INSURANCE COMPANY
	Note Registration Number(s);	RK-13; $4,000,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	Bank of New York	 
	 	ABA #: 021000018	 
	 	Credit Account: GLA111566
	 	Account Name: The State Life Insurance Company
	 	Account #: 343761	 
	 	P & I Breakdown: (Insert)
	 	 
	 	Payments
    should contain sufficient information to identify the breakdown of principal and interest and should identify the full
    description of the note(s) and the payment date.
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	 
	 	Description
    of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:	23157# AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount)
    of the payment being made.
	Address / Fax # / Email for all notices and communications	American United Life Insurance Company

    Attn: Mike Bullock, Securities Department
	 	One American Square, Suite 1017
	 	Post Office Box 368	 
	 	Indianapolis, IN 46206
	 	mike.bullock@oneamerica.com
	Instructions re Delivery of Note(s)	The Depository Trust Company
	 	Attn: BNY Mellon/Branch Deposit Dept.
	 	Acct # 343761 State Life, c/o AUL
	 	570 Washington Blvd. – 5th Floor
	 	Jersey City, NJ 07310
	Signature Block Format	THE STATE LIFE INSURANCE COMPANY
	 	By:        American United Life Insurance Company
	 	Its:        Agent	 
	 	 
	 	By:
    _______________________________
	 	Name:	 	 
	 	Title:	 	 
	Tax Identification Number	35-0684263	 	 

 

Purchaser Schedule – A-37

	 

	

    

	Purchaser Name	UNITED OF OMAHA LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	UNITED OF OMAHA LIFE INSURANCE COMPANY
	Note Registration Number(s);	RK-14; $6,000,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	JPMorgan Chase Bank
	 	ABA #021000021	 
	 	Private Income Processing
	 	 
	 	For credit to:	 
	 	United of Omaha Life Insurance Company
	 	Account # 900-9000200
	 	a/c: G07097	 
	 	 
	 	Ref: “Accompanying Information” below
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	 
	 	Description
    of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:	23157# AL3
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount)
    of the payment being made.
	Address / Fax # / Email for all notices in respect of payment of Principal and Interest, Corporate Actions, and Reorganization Notifications	JPMorgan Chase Bank
	4 Chase Metrotech Center, 16th Floor
	Brooklyn, NY 11245-0001
	Attn: Income Processing
	a/c: G07097	 
	Address / Fax # / Email for all other notices and communications	4 - Investment Management

    United of Omaha Life Insurance Company
	 	3300 Mutual of Omaha Plaza
	 	Omaha, NE 68175-1011
	 	 
	 	Email Address for Electronic Document Transmission:
	 	privateplacements@mutualofomaha.com
	Instructions re Delivery of Note(s)	JPMorgan Chase Bank
	 	4 Chase Metrotech Center, 3rd Floor
	 	Brooklyn, NY 11245-0001
	 	Attention: Physical Receive Department
	 	Account# G07097	 
	Signature Block Format	UNITED OF OMAHA LIFE INSURANCE COMPANY
	 	 
	 	By:
    _______________________________
	 	Name:	 	 
	 	Title:	 	 
	Tax Identification Number	47-0322111	 

 

Purchaser Schedule – A-38

	 

	

    

	Purchaser Name	UNITED OF OMAHA LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	UNITED OF OMAHA LIFE INSURANCE COMPANY
	Note Registration Number(s);	RK-15; $6,000,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	JPMorgan Chase Bank
	 	ABA #021000021	 
	 	Private Income Processing
	 	 
	 	For credit to:	 
	 	United of Omaha Funds Withheld Account
	 	Account # 900-9000200
	 	a/c: G20071	 
	 	 
	 	Ref: “Accompanying Information” below
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	 
	 	Description
    of Security:
	 	 
	 	3.20% Series K Senior Guaranteed Notes due August 13, 2032
	 	 
	 	PPN:	23157# AL3
	 	 
	 	Due date
    and application (as among principal, interest and Make-Whole Amount) of the payment being made.
	Address / Fax # / Email for all notices in respect of payment of Principal
    and Interest, Corporate Actions, and Reorganization Notifications	JPMorgan Chase Bank
	4 Chase Metrotech Center, 16th Floor
	Brooklyn, NY 11245-0001
	Attn: Income Processing
	a/c: G20071	 
	Address / Fax # / Email for all other notices and communications	4 - Investment Management

    United of Omaha Life Insurance Company (Funds Withheld Account)
	 	3300 Mutual of Omaha Plaza
	 	Omaha, NE 68175-1011
	 	 
	 	Email Address for Electronic Document Transmission:
	 	privateplacements@mutualofomaha.com
	Instructions re Delivery of Note(s)	JPMorgan Chase Bank
	 	4 Chase Metrotech Center, 3rd Floor
	 	Brooklyn, NY 11245-0001
	 	Attention: Physical Receive Department
	 	Account # G20071	 
	Signature Block Format	UNITED OF OMAHA LIFE INSURANCE COMPANY
	 	 
	 	By:
    _______________________________
	 	Name:	 	 
	 	Title:	 	 
	Tax Identification Number	47-0322111	 	 

 

Purchaser Schedule – A-39

	 

	

    

	Purchaser Name	SOUTHERN FARM BUREAU LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	ELL &
    CO, F/B/O SOUTHERN FARM BUREAU LIFE INSURANCE COMPANY
	Note Registration Number(s);	RJ-14; $3,000,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	The Northern Trust Company
	 	Chicago, IL 60607	 
	 	ABA No.: 071 000 152
	 	SWIFT/BIC: CNORUS44
	 	Acct. Name: Trust Services
	 	Acct. No.: 518 604 1000
	 	Reference:
    Attn: Income Collection, Acct# 44-72417; SFBLIC – FIXED INCOME; CURTISS-WRIGHT CORPORATION; 23157# AK5; RJ-14
	 	 
	 	with sufficient information to identify the source and application of such
    funds, including the interest amount, principal amount, premium amount, etc.
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	 
	 	Description
    of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:	23157# AK5
	 	 
	 	Due date
    and application (as among principal, interest and Make-Whole Amount) of the payment being made.
	Address / Fax # / Email for all notices relating to payments	The Northern Trust Company

    Attn: Income Collections
	 	801 S Canal St	 
	 	Chicago, IL 60607	 
	 	ICPHYS@ntrs.com	 
	 	 
	 	With a copy to:	 
	 	Inv_Acctg-pp@sfbli.com
	Address / Fax # / Email for audit confirmation
    requests:	By electronic delivery to:
	ICPHYS@ntrs.com	 
	Address / Fax # / Email for all other communications, including
    waivers, amendments, consents and financial information:	By electronic delivery to:

    Attn: Securities Management

    PrivatePlacements@sfbli.com
	Instructions re Delivery of Note(s)	The Northern Trust Company
	 	Trade Securities Processing 32nd floor
	 	333 S Wabash Ave	 
	 	Chicago, Illinois 60604
	 	With an electronic copy of the transmittal to:
	 	PrivatePlacements@sfbli.com

 

Purchaser Schedule – A-40

	 

	

    

	Purchaser Name	SOUTHERN FARM BUREAU LIFE INSURANCE COMPANY
	Signature Block Format	SOUTHERN FARM BUREAU LIFE INSURANCE COMPANY
	 	 
	 	By: _________________________________________
	 	Name: David Divine
	 	Title: Director – Securities Management
	Tax Identification Number	64-0283583 (Southern Farm Bureau Life Insurance Company)
	 	36-6412623 (ELL & Co)

 

Purchaser Schedule – A-41

	 

	

    

	Purchaser Name	USAA LIFE INSURANCE COMPANY
	Name in Which to Register Note(s)	USAA LIFE INSURANCE COMPANY
	Note Registration Number(s);	RJ-15; $11,700,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	Bank: The Northern Trust Company
	 	ABA Number: 071000152
	 	BIC: CNORUS44XXX
	 	A/C Number: 5186041000
	 	FFC Account Name: USAA Life Insurance Co
	 	FFC Account BIC: CNORGB22XXX
	 	FFC Account Number: 26-11042
	 	 
	 	Ref: “Accompanying Information” below
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	Description
    of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:	23157# AK5
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount)
    of the payment being made.
	Address / Fax # / Email for all notices and communications	12147362337@tls.ldsprod.com

    Privatetransactionsteam@blackrock.com
	Instructions re Delivery of Note(s)	The Northern Trust Company
	 	Trade Securities Processing, 32nd floor Northern
	 	333 S. Wabash Ave Chicago, IL 60604
	 	(in
    cover letter reference note amount, acct name, and bank custody account #)
	 	 	 	 
	 	Copy of note and transmittal to: hui.chen@blackrock.com
	Signature Block Format	USAA LIFE INSURANCE COMPANY
	 	By:       BlackRock Financial Management, Inc., as investment manager
	 	 
	 	 
	 	By:______________________________
	 	Name:	 
	 	Title:	 
	Tax Identification Number	74-1472662	 	 

 

Purchaser Schedule – A-42

	 

	

    

	Purchaser
    Name	USAA LIFE INSURANCE COMPANY OF NEW
    YORK
	Name in Which to Register Note(s)	USAA LIFE INSURANCE COMPANY OF NEW YORK
	Note Registration Number(s);	RJ-16; $300,000	 
	Principal Amount(s)	 	 	 
	Payment on account of Note(s)	 	 	 
	 	 
	Method	Wire Transfer	 
	 	 
	 	Bank: The Northern Trust Company
	 	ABA Number: 071000152
	 	BIC: CNORUS44XXX
	 	A/C Number: 5186041000
	 	FFC Account Name: USAA Life Insurance Co of NY
	 	FFC Account BIC: CNORGB22XXX
	 	FFC Account Number: 26-11044
	 	 
	 	Ref: “Accompanying Information” below
	Accompanying Information	Name of Company:	CURTISS-WRIGHT CORPORATION
	 	 
	 	Description of Security:
	 	 
	 	3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	 
	 	PPN:	23157# AK5
	 	 
	 	Due date and application (as among principal, interest and Make-Whole Amount)
    of the payment being made.
	Address / Fax # / Email for all notices and communications	18177640814@tls.ldsprod.com

    Privatetransactionsteam@blackrock.com
	Instructions re Delivery of Note(s)	The Northern Trust Company
	 	Trade Securities Processing, 32nd floor Northern
	 	333 S. Wabash Ave Chicago, IL 60604
	 	(in
    cover letter reference note amount, acct name, and bank custody account #)
	 	 	 	 
	 	Copy of note and transmittal to: hui.chen@blackrock.com
	Signature Block Format	USAA LIFE INSURANCE COMPANY OF NEW YORK
	 	By:       BlackRock Financial Management, Inc., as investment manager
	 	 
	 	 
	 	By:______________________________
	 	Name:	 
	 	Title:	 
	Tax Identification Number	16-1530706	 	 

 

Purchaser Schedule – A-43

	 

	

    

SCHEDULE B

 

DEFINED TERMS

 

As used herein, the following
terms have the respective meanings set forth below or set forth in the Section hereof following such term:

 

“Additional Provision”
is defined in Section 9.7(a).

 

“Affiliate”
means, at any time, and with respect to any Person, any other Person that at such time directly or indirectly through one or more
intermediaries Controls, or is Controlled by, or is under common Control with, such first Person. Unless the context otherwise
clearly requires, any reference to an “Affiliate” is a reference to an Affiliate of the Company.

 

“Agreement”
is defined in Section 17.3.

 

“Anti-Corruption
Laws” means any law or regulation in a U.S. or any non-U.S. jurisdiction regarding bribery or any other corrupt activity,
including the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act 2010.

 

“Anti-Money Laundering
Laws” means any law or regulation in a U.S. or any non-U.S. jurisdiction regarding money laundering, drug trafficking,
terrorist-related activities or other money laundering predicate crimes, including the Currency and Foreign Transactions Reporting
Act of 1970 (otherwise known as the Bank Secrecy Act) and the USA PATRIOT Act.

 

“Asset Disposition”
means any Transfer except:

 

(a)         any

 

(i)         Transfer
from a Subsidiary to the Company or a Wholly-Owned Subsidiary;

 

(ii)         Transfer
from the Company to a Wholly-Owned Subsidiary; and

 

(iii)         Transfer
from the Company or a Wholly-Owned Subsidiary to a Subsidiary (other than a Wholly-Owned Subsidiary) or from a Subsidiary to another
Subsidiary, which in either case is for Fair Market Value;

 

so long as immediately before and
immediately after the consummation of any such Transfer and after giving effect thereto, no Default or Event of Default exists;
and

 

(b)          any
Transfer made in the ordinary course of business and involving only property that is either (i) inventory held for sale or (ii)
equipment, fixtures, supplies or materials that are obsolete or inoperative.

 

“Assured Obligation”
means any Indebtedness or other obligation or liability.

 

Schedule B-1

    	 

	

    

“Attributable Indebtedness”
means, on any date, (a) in respect of any capital lease of any Person, the capitalized amount thereof that would appear on a balance
sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the
capitalized amount of the remaining lease payments under the relevant lease that would appear on a balance sheet of such Person
prepared as of such date in accordance with GAAP if such lease were accounted for as a capital lease.

 

“Blocked Person”
means (a) a Person whose name appears on the list of Specially Designated Nationals and Blocked Persons published by OFAC, (b)
a Person, entity, organization, country or regime that is blocked or a target of sanctions that have been imposed under U.S. Economic
Sanctions Laws or (c) a Person that is an agent, department or instrumentality of, or is otherwise beneficially owned by, controlled
by or acting on behalf of, directly or indirectly, any Person, entity, organization, country or regime described in clause (a)
or (b).

 

“Business Day”
means any day other than a Saturday, a Sunday or a day on which commercial banks in New York City are required or authorized to
be closed.

 

“Capital Lease”
means, at any time, a lease with respect to which the lessee is required concurrently to recognize the acquisition of an asset
and the incurrence of a liability in accordance with GAAP.

 

“Capital Stock”
means any class of capital stock, share capital or similar equity interest of a Person.

 

“Change in Control”
is defined in Section 8.3(g).

 

“Change in Control
Offer Response Date” is defined in Section 8.3(c).

 

“Change in Control
Proposed Prepayment Date” is defined in Section 8.3(b).

 

“Closing”
is defined in Section 3.

 

“Code”
means the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations promulgated thereunder from
time to time.

 

“Company”
is defined in the introductory paragraph of this Agreement or any successor that becomes such in the manner prescribed in Section
10.2.

 

“Competitor”
means any Person which is involved, directly or indirectly, to a material extent in the business of providing highly engineered
valves, pumps, motors, generators, electronics, systems and related products that regulate the flow of liquids and gases in severe
service environments in power generation, oil and gas processing, naval defense and general industrial, or provides ruggedized
shipboard enclosures and electronic subsystems for the defense market, or provides tactical data link software for aerospace and
defense markets, or provides applications for flight controls and testing, mechanical actuation and drive systems, sensing and
electronic computing system applications services or metal treatment services that enhance the performance and extend the life
of critical components utilized in aerospace,

 

Schedule B-2

    	 

	

    

automotive/transportation, power generation
and general industrial markets; provided that in no event shall any Institutional Investor that maintains purely passive investments
in any Person that is a Competitor be deemed a Competitor.

 

“Confidential Information”
is defined in Section 20.

 

“Consolidated Debt”
means, as of any date of determination, the total of all Debt of the Company and its Subsidiaries outstanding on such date, after
eliminating all offsetting debits and credits between the Company and its Subsidiaries and all other items required to be eliminated
in the course of preparation of consolidated financial statements of the Company and its Subsidiaries in accordance with GAAP.

 

“Consolidated
EBITDA” means, for any period, for the Company and its Subsidiaries on a consolidated basis, the sum of
(a) Consolidated Net Income for such period, plus (b) Consolidated Interest Charges for such period, plus (c)
consolidated foreign, federal and state income tax expenses for such period, plus (d) depreciation and amortization
for such period, plus (e) extraordinary losses for such period, minus (f) extraordinary gains for such period.

 

“Consolidated Interest
Charges” means, for any period, for the Company and its Subsidiaries on a consolidated basis, the sum of interest expense
(whether cash or non-cash) determined in accordance with GAAP for the relevant period ended on such date, including, in any event,
interest expense with respect to Indebtedness of the Company and its Subsidiaries, interest expense for the relevant period that
has been capitalized on the balance sheet and interest expense with respect to any Deemed Debt.

 

“Consolidated Net
Income” means, for any period, the net income (or loss) of the Company and its Subsidiaries for such period (taken as
a cumulative whole), as determined in accordance with GAAP, after eliminating all offsetting debits and credits between the Company
and its Subsidiaries and all other items required to be eliminated in the course of the preparation of consolidated financial statements
of the Company and its Subsidiaries in accordance with GAAP.

 

“Consolidated Net
Worth” means, as of any date, the sum of (a) total stockholders’ equity in the Company and its Subsidiaries as
of such date, determined on a consolidated basis in accordance with GAAP, minus (b) to the extent included in clause (a), all amounts
properly attributable to minority interests, if any, in the stock and surplus of Subsidiaries, minus (c) any increase in the amount
of Consolidated Net Worth attributable to a write up in the book value of any asset on the books of the Company and its Subsidiaries
resulting from a revaluation thereof subsequent to December 31, 2019, minus (d) the amounts, if any, at which any shares of capital
stock of the Company or any Subsidiary appear as an asset on the balance sheet from which Consolidated Net Worth is determined
for purposes of this definition

 

“Consolidated Total
Assets” means, as of any date, the total assets of the Company and its Subsidiaries which would be shown as assets on
a consolidated balance sheet of the Company and its Subsidiaries as of such date prepared in accordance with GAAP, after eliminating
all amounts properly attributable to minority interests, if any, in the stock and surplus of Subsidiaries.

 

Schedule B-3

    	 

	

    

“Consolidated Total
Capitalization” means, as of any date, the sum of Consolidated Net Worth and Consolidated Debt.

 

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a
Person, whether through the ownership of voting securities, by contract or otherwise; and the terms “Controlled” and
“Controlling” shall have meanings correlative to the foregoing.

 

“Control Event”
is defined in Section 8.3(h).

 

“Controlled Entity”
means (a) any of the Subsidiaries of the Company and any of their or the Company’s respective Controlled Affiliates and (b)
if the Company has a parent company, such parent company and its Controlled Affiliates.

 

“C-W Controls”
is defined in the introductory paragraph of this Agreement.

 

“C-W Electro-Mechanical”
is defined in the introductory paragraph of this Agreement.

 

“C-W Flow”
is defined in the introductory paragraph of this Agreement.

 

“C-W Flow Control
Service” is defined in the introductory paragraph of this Agreement.

 

“C-W Surface”
is defined in the introductory paragraph of this Agreement.

 

“Debt”
means, with respect to any Person, at any time, without duplication,

 

(a)         its
liabilities for borrowed money and its redemption obligations in respect of mandatorily redeemable Preferred Stock to the extent
such redemption obligations are required to be paid with cash or other consideration (other than shares of Capital Stock);

 

(b)         its
liabilities for the deferred purchase price of property acquired by such Person (excluding accounts payable arising in the ordinary
course of business but including all liabilities created or arising under any conditional sale or other title retention agreement
with respect to any such property);

 

(c)         all
liabilities appearing on its balance sheet in accordance with GAAP in respect of Capital Leases;

 

(d)         all
liabilities for borrowed money secured by any Lien with respect to any property owned by such Person (whether or not it has assumed
or otherwise become liable for such liabilities); and

 

(e)         any
Guaranty of such Person with respect to liabilities of a type described in any of clauses (a) through (d) hereof.

 

Schedule B-4

    	 

	

    

Debt of any Person shall
include all obligations of such Person of the character described in clauses (a) through (e) to the extent such Person remains
legally liable in respect thereof notwithstanding that any such obligation is deemed to be extinguished under GAAP.

 

“Debt Prepayment
Application” means, with respect to any Transfer of any property, the application by any Obligor or any Subsidiary,
as the case may be, of cash in an amount equal to the Net Proceeds with respect to such Transfer to pay Senior Debt (other than
(a) Senior Debt owing to the Company or any of its Subsidiaries or any Affiliate and (b) Senior Debt in respect of any revolving
credit or similar facility providing any Obligor or any such Subsidiary with the right to obtain loans or other extensions of
credit from time to time, unless in connection with such payment of Senior Debt the availability of credit under such credit facility
is permanently reduced by an amount not less than the amount of such proceeds applied to the payment of such Senior Debt), provided
that in the course of making such application the Issuers shall offer to prepay each outstanding Note, in accordance with
Section 8.4, in a principal amount which equals the Ratable Portion of the holder of such Note in respect of such Transfer. If
any holder of a Note rejects such offer of prepayment, then, for purposes of the preceding sentence only, the Obligors nevertheless
will be deemed to have paid Senior Debt in an amount equal to the Ratable Portion of the holder of such Note in respect of such
Transfer.

 

“Debt Prepayment
Transfer” is defined in Section 8.4(a).

 

“Deemed Debt”
means the amount of indebtedness incurred by the Company and its consolidated Subsidiaries and any special purpose corporation
or trust which is an Affiliate of the Company or any of its Subsidiaries in connection with any accounts receivable or inventory
financing facility, whether or not shown on the balance sheet of the Company or such Subsidiary in accordance with GAAP to the
extent not included in the definition of Indebtedness. For purposes of determining the amount of Deemed Debt incurred by any Person
in connection with any accounts receivable or inventory financing transaction, the amount of all contingent obligations of such
Person shall be included as well as non-recourse indebtedness incurred in connection with such transaction. Deemed Debt shall not
include operating leases.

 

“Deemed Guarantor”
means a Person who is deemed subject to a Guarantee in respect of any Assured Obligation of another Person (the “Deemed
Obligor”) because such Person directly or indirectly guarantees, becomes surety for, endorses, assumes, agrees to indemnify
the Deemed Obligor against, or otherwise agrees, becomes or remains liable (contingently or otherwise) for, such Assured Obligation.

 

“Deemed Obligor”
shall have the meaning set forth in the definition of “Deemed Guarantor”.

 

“Default”
means an event or condition the occurrence or existence of which would, with the lapse of time or the giving of notice or both,
become an Event of Default.

 

“Default Rate”
means that rate of interest per annum that is the greater of (a) 2% per annum above the rate of interest stated in clause (a) of
the first paragraph of the Notes or (b) 2% over the rate of interest publicly announced from time to time by JPMorgan Chase Bank,
N.A. in New York, New York as its “base” or “prime” rate.

 

Schedule B-5

    	 

	

    

“Delaware LLC”
and “Delaware LLCs” means, individually and collectively, any limited liability company organized or formed
under the laws of the State of Delaware.

 

“Delaware Divided
LLC” means any Delaware LLC which has been formed upon consummation of a Delaware LLC Division.

 

“Delaware LLC Division”
means the statutory division of any Delaware LLC into two or more Delaware LLCs pursuant to Section 18-217 of the Delaware Limited
Liability Company Act.

 

“Disposition Value”
means, at any time, with respect to any property

 

(a)         in
the case of property that does not constitute Subsidiary Stock, the book value thereof, valued at the time of such disposition
in good faith by the Company, and

 

(b)         in
the case of property that constitutes Subsidiary Stock, an amount equal to that percentage of book value of the assets of the Subsidiary
that issued such stock as is equal to the percentage that the book value of such Subsidiary Stock represents of the book value
of all of the outstanding Capital Stock of such Subsidiary (assuming, in making such calculations, that all Securities convertible
into such Capital Stock are so converted and giving full effect to all transactions that would occur or be required in connection
with such conversion) determined at the time of the disposition thereof in good faith by the Company.

 

“Environmental
Laws” means any and all Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments,
orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution
and the protection of the environment or the release of any materials into the environment, including but not limited to those
related to hazardous substances or wastes, air emissions and discharges to waste or public systems.

 

“Equity Interests”
means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person,
all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or
other ownership or profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital
stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition
from such Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including
partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options,
rights or other interests are outstanding on any date of determination.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the rules and regulations promulgated
thereunder from time to time in effect.

 

“ERISA Affiliate”
means any trade or business (whether or not incorporated) that is treated as a single employer together with any Issuer under section
414 of the Code.

 

Schedule B-6

    	 

	

    

“Event of Default” is defined
in Section 11.

 

“Exchange Act” means the
Securities Exchange Act of 1934, as amended.

 

“Fair Market Value” means,
at any date of determination and with respect to any property, the sale value of such property that would be realized in an arm’s-length
sale at such time between an informed and willing buyer and an informed and willing seller (neither being under a compulsion to
buy or sell).

 

“FATCA” means Sections 1471
through 1474 of the Code as of the date hereof, and any substantially similar amendments thereto and any current or future regulations
or official interpretations thereof.

 

“Financial Covenant” means
any covenant (whether set forth as a covenant, undertaking, event of default, restriction or other provision) that requires the
Company or any Material Subsidiary to achieve or maintain a stated level of financial condition or performance and includes, without
limitation, any requirement that the Company or any Material Subsidiary:

 

(a)         maintain
a specified level of net worth, shareholders’ equity, total assets, cash flow or net income;

 

(b)         maintain
any relationship of any component of its capital structure to any other component thereof (including, without limitation, the relationship
of indebtedness, senior indebtedness or subordinated indebtedness to total capitalization or to net worth); or

 

(c)         maintain
any measure of its ability to service its indebtedness (including, without limitation, exceeding any specified ratio of revenues,
cash flow or net income to indebtedness, interest expense, rental expense, capital expenditures and/or scheduled payments of indebtedness).

 

“Financing Documents” means
the Notes, this Agreement and the Subsidiary Guarantee, and each other document, guaranty, instrument or agreement delivered in
connection with the transactions contemplated hereby, as each may be amended, restated or otherwise modified from time to time.

 

“foreign Purchaser” is defined
in Section 14.3(b).

 

“Foreign Subsidiary” means
any Subsidiary that is organized under the laws of a jurisdiction other than the United States, a State thereof or the District
of Columbia.

 

“GAAP” means (a) generally
accepted accounting principles as in effect from time to time in the United States of America and (b) IFRS at any time that the
Company prepares its financial statements in accordance with IFRS.

 

“Governmental Authority”
means

 

(a)         the
government of

 

Schedule B-7

    	 

	

    

(i)         the
United States of America or any State or other political subdivision thereof, or

 

(i)         any
jurisdiction in which the Company or any Subsidiary conducts all or any part of its business, or which asserts jurisdiction over
any properties of the Company or any Subsidiary, or

 

(b)         any
entity exercising executive, legislative, judicial, regulatory or administrative functions of, or pertaining to, any such government.

 

“Governmental Official”
means any governmental office or employee, employee of any government-owned or government-controlled entity, political party, any
official of a political party, candidate for political office, official of any public international organization or anyone else
acting in an official capacity.

 

“Guarantee”
means (a) to purchase or assume, or to supply funds for the payment, purchase or satisfaction of, an Assured Obligation, (b) to
make any loan, advance, capital contribution or other investment in, or to purchase or lease any property or services from, a Deemed
Obligor (i) to maintain the solvency of a Deemed Obligor, (ii) to enable a Deemed Obligor to meet any other financial condition,
(iii) to enable a Deemed Obligor to satisfy any Assured Obligation or to make any Restricted Payment or any other payment, or (iv)
to assure the holder of such Assured Obligation against loss, (c) to purchase or lease property or services from a Deemed Obligor
regardless of the nondelivery of or failure to furnish of such property or services, or (d) in respect of any other transaction
the effect of which is to assure the payment or performance (or payment of damages or other remedy in the event of nonpayment or
nonperformance) of any Assured Obligation. Without limitation, a Guarantee shall be deemed to exist if a Deemed Guarantor agrees,
becomes or remains liable (contingently or otherwise), directly or indirectly for any of the foregoing.

 

“Guaranty”
means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments
for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation
of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through
an agreement, contingent or otherwise, by such Person:

 

(a)         to
purchase such indebtedness or obligation or any property constituting security therefor;

 

(b)         to
advance or supply funds (i) for the purchase or payment of such indebtedness or obligation, or (ii) to maintain any working capital
or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available
funds for the purchase or payment of such indebtedness or obligation;

 

(c)         to
lease properties or to purchase properties or services primarily for the purpose of assuring the owner of such indebtedness or
obligation of the ability of any other Person to make payment of the indebtedness or obligation; or

 

Schedule B-8

    	 

	

    

(d)         otherwise
to assure the owner of such indebtedness or obligation against loss in respect thereof.

 

In any computation of the
indebtedness or other liabilities of the obligor under any Guaranty, the indebtedness or other obligations that are the subject
of such Guaranty shall be assumed to be direct obligations of such obligor.

 

“holder”
means, with respect to any Note, the Person in whose name such Note is registered in the register maintained by the Company pursuant
to Section 13.1, provided, however, that if such Person is a nominee, then for the purposes of Sections 7, 12, 17.2 and 18 and
any related definitions in this Schedule , “holder” shall mean the beneficial owner of such Note whose name and address
appears in such register.

 

“IFRS”
means, collectively:

 

(a)         each
International Financial Reporting Standard;

 

(b)         International
Accounting Standards (IAS); and

 

(c)         Interpretations

 

where:

 

(x)         “International
Financial Reporting Standard” means each financial reporting standard issued by the International Accounting Standards Board
(IASB);

 

(y)         “International
Accounting Standards” means the financial reporting standards issued by the International Accounting Standards Committee
of the IASB; and

 

(z)         “Interpretations”
means the explanations from time to time of the application of International Financial Reporting Standards to particular transactions,
arrangements or circumstances (issued by the International Financial Reporting Interpretations Committee of the IASB or its predecessor,
the Standing Interpretations Committee,

 

as each may be amended from time to time.

 

“Indebtedness”
means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness
or liabilities in accordance with GAAP:

 

(a)          all
obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements
or other similar instruments;

 

(b)         all
direct or contingent obligations of such Person arising under letters of credit (including standby and commercial but excluding
standby letters of credit issued for the account of such Person in connection with bids on proposed contracts by such Person),
bankers’ acceptances, bank guaranties, surety bonds and similar instruments;

 

Schedule B-9

    	 

	

    

(c)         net
obligations of such Person under any Swap Contract;

 

(d)         all
obligations of such Person to pay the deferred purchase price of property or services (other than trade accounts payable in the
ordinary course of business);

 

(e)         indebtedness
(excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness
arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed
by such Person or is limited in recourse;

 

(f)         capital
leases and Synthetic Lease Obligations;

 

(g)         all
obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Equity Interest
in such Person or any other Person, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or
involuntary liquidation preference plus accrued and unpaid dividends; and

 

(h)         all
Guarantees of such Person in respect of any of the foregoing.

 

For all purposes hereof, the Indebtedness of
any Person shall include the Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation
or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly
made non-recourse to such Person. The amount of any net obligation under any Swap Contract on any date shall be deemed to be the
Swap Termination Value as of such date. The amount of any capital lease or Synthetic Lease Obligation as of any date shall be deemed
to be the amount of Attributable Indebtedness in respect thereof as of such date.

 

“INHAM Exemption”
is defined in Section 6.2(e).

 

“Institutional
Investor” means (a) any Purchaser of a Note, (b) any holder of a Note holding more than 5% of the aggregate principal
amount of the Notes then outstanding, and (c) any institutional accredited investor as defined in Rule 501(a)(1), (2), (3) or (7)
of Regulation D under the Securities Act and any investment fund having assets of at least $100,000,000 that is in the business
of investing in securities issued by other Persons, regardless of legal form.

 

“Issuers”
is defined in the introductory paragraph of this Agreement.

 

“knowledge”
when used with respect to any Issuer or any Responsible Officer to qualify a representation or warranty of such Issuer or such
Responsible Officer, shall be deemed to be the actual knowledge of such Responsible Officer.

 

“Lien”
means, with respect to any Person, any mortgage, lien, pledge, charge, security interest or other encumbrance, or any interest
or title of any vendor, lessor, lender or other secured party to or of such Person under any conditional sale or other title retention
agreement or Capital Lease, upon or with respect to any property or asset of such Person (including in the case of stock, stockholder
agreements, voting trust agreements and all similar arrangements).

 

Schedule B-10

    	 

	

    

“Make-Whole Amount”
is defined in Section 8.8.

 

“Material”
means material in relation to the business, operations, affairs, financial condition, assets, or properties of the Company and
its Subsidiaries, taken as a whole.

 

“Material Adverse
Effect” means a material adverse effect on (a) the business, operations, affairs, financial condition, assets or properties
and results of operations of the Company and its Subsidiaries, taken as a whole, (b) the ability of any Issuer to perform its obligations
under this Agreement and the Notes, or of any Material Subsidiary to perform its obligations under the Subsidiary Guarantee or
(c) the validity or enforceability of this Agreement, the Notes, or the Subsidiary Guarantee.

 

“Material Subsidiary”
means, as of any date, any Subsidiary of the Company (a) which together with its Subsidiaries (determined on a consolidated basis),
has assets with a book value greater than or equal to twenty percent (20%) of the Consolidated Total Assets of the Company and
its Subsidiaries, as of the end of the most recently completed fiscal quarter for which financial information is then available,
(b) which, together with its Subsidiaries (determined on a consolidated basis), has greater than twenty percent (20%) of the net
revenues of the Company and Subsidiaries on a consolidated basis for the most recent fiscal quarter for which financial information
is then available, all determined in accordance with GAAP, or (c) designated as a Material Subsidiary pursuant to Section 10.9.

 

“Metal”
is defined in the introductory paragraph of this Agreement.

 

“Multiemployer
Plan” means any Plan that is a “multiemployer plan” (as such term is defined in section 4001(a)(3) of ERISA).

 

“NAIC”
is defined in Section 4.8.

 

“NAIC Annual Statement”
is defined in Section 6.2(a).

 

“Net Proceeds”
means, with respect to any Transfer of any property by any Person, an amount equal to the difference of

 

(a)         the
aggregate amount of the consideration (valued at the Fair Market Value of such consideration at the time of the consummation of
such Transfer) received by such Person in respect of such Transfer, minus

 

(b)         all
ordinary and reasonable out-of-pocket costs and expenses actually incurred by such Person in connection with such Transfer.

 

“Net Worth Financial
Covenant” means any covenant (whether set forth as a covenant, undertaking, event of default, restriction or other provision)
that requires the Company or any Subsidiary, on a consolidated basis or otherwise, to achieve or maintain a specified level of
net worth or shareholders’ equity.

 

“Non-U.S. Plan”
means any plan, fund or other similar program that (a) is established or maintained outside the United States of America by the
Company or any Subsidiary primarily for

 

Schedule B-11

    	 

	

    

the benefit of employees of the Company or
one or more Subsidiaries residing outside the United States of America, which plan, fund or other similar program provides, or
results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment,
and (b) is not subject to ERISA or the Code.

 

“Notes”
is defined in Section 1.

 

“Obligors”
means, collectively, the Issuers and the Subsidiary Guarantors.

 

“OFAC”
means the Office of Foreign Assets Control of the United States Department of the Treasury.

 

“OFAC Sanctions
Program” means any economic or trade sanction that OFAC is responsible for administering and enforcing. A list of OFAC
Sanctions Programs may be found at http://www.treasury.gov/resource-center/sanctions/Programs/Pages/Programs.aspx.

 

“Officer’s
Certificate” means a certificate of a Senior Financial Officer or of any other officer of the Company or any Subsidiary,
as the context may require, whose responsibilities extend to the subject matter of such certificate.

 

“PBGC”
means the Pension Benefit Guaranty Corporation referred to and defined in ERISA or any successor thereto.

 

“Person”
means an individual, partnership, corporation, limited liability company, association, joint venture, trust, unincorporated organization,
or a government or agency or political subdivision thereof.

 

“Plan”
means an “employee benefit plan” (as defined in section 3(3) of ERISA) subject to Title I of ERISA that is or, within
the preceding five years, has been established or maintained, or to which contributions are or, within the preceding five years,
have been made or required to be made, by any Issuer or any ERISA Affiliate or with respect to which such Issuer or any ERISA Affiliate
may have any liability.

 

“Preferred Stock”
means any class of capital stock of a Person that is preferred over any other class of capital stock (or similar equity interest)
of such Person as to the payment of dividends or the payment of any amount upon liquidation or dissolution of such Person.

 

“Presentation”
is defined in Section 5.3.

 

“Principal Credit
Facility” means any agreement (including, without limitation, any note purchase agreement) or facility providing credit
availability in excess of $150,000,000 to the Company and/or any of its Subsidiaries, as such agreement or facility may be amended,
restated, supplemented or otherwise modified from time to time and together with increases, refinancings and replacements thereof,
in whole or in part.

 

“Priority Debt”
means, as of any date, (without duplication) the sum of (a) all outstanding Debt of any Subsidiary (other than (i) an Issuer or
a Subsidiary Guarantor, (ii) Debt of any Subsidiary owing solely to the Company or any Wholly-Owned Subsidiary, or (iii) Debt

 

Schedule B-12

    	 

	

    

outstanding at the time such Person becomes
a Subsidiary; provided that such Debt shall not have been incurred in contemplation of such Person becoming a Subsidiary ) and
(b) all Debt of any Issuer or any Subsidiary Guarantor secured by any Lien (other than Liens under clauses (a) through (e) and
clauses (g) through (m) of Section 10.7).

 

“property”
or “properties” means, unless otherwise specifically limited, real or personal property of any kind, tangible
or intangible, choate or inchoate.

 

“Property Reinvestment
Application” means, with respect to any Transfer of property, the application of an amount equal to the Net Proceeds
with respect to such Transfer to the acquisition by any Issuer or any Subsidiary of either (a) Capital Stock, whether directly
or indirectly, in a new operating Subsidiary or (b) operating assets of a generally similar nature (excluding, for the avoidance
of doubt, cash and cash equivalents), and, in each case, of at least equivalent Fair Market Value (less all ordinary and reasonable
out of pocket costs and expenses actually incurred by such Person in connection with such Transfer and such acquisition) to the
property so Transferred, engaged in or to be used in the principal business of the Issuers and their Subsidiaries as conducted
immediately prior to such Transfer or in a business generally related to such principal business.

 

“PTE”
is defined in Section 6.2(a).

 

“Purchaser”
or “Purchasers” means each of the purchasers that has executed and delivered this Agreement to the Company and
such Purchaser’s successors and assigns (so long as any such assignment complies with Section 13.2), provided, however, that
any Purchaser of a Note that ceases to be the registered holder or a beneficial owner (through a nominee) of such Note as the result
of a transfer thereof pursuant to Section 13.2 shall cease to be included within the meaning of “Purchaser” of such
Note for the purposes of this Agreement upon such transfer.

 

“QPAM Exemption”
is defined in Section 6.2(d).

 

“Ratable Portion”
means, in respect of any holder of any Note and any Transfer contemplated by the definition of Debt Prepayment Application, an
amount equal to the product of

 

(a)         the
Net Proceeds being offered to be applied to the payment of Senior Debt, multiplied by

 

(b)         a
fraction the numerator of which is the outstanding principal amount of such Note and the denominator of which is the aggregate
outstanding principal amount of Senior Debt at the time of such Transfer determined on a consolidated basis in accordance with
GAAP.

 

“Required Holders”
means, at any time, (a) for purposes of the second sentence of Section 8.2 only, the holders of at least a majority in principal
amount of the Series of Notes being offered to be prepaid at such time and (b) for all other purposes of this Agreement, the holders
of at least a majority in principal amount of the Notes at the time outstanding (exclusive of, in the case of clauses (a) and/or
(b), Notes then owned by the Company or any of its Affiliates).

 

Schedule B-13

    	 

	

    

“Responsible Officer”
means any Senior Financial Officer and any other officer of any Issuer or any Subsidiary Guarantor with responsibility for the
administration of the relevant portion of this Agreement or the Subsidiary Guarantee, as applicable.

 

“Restricted Payment”
means any dividend or other distribution (whether in cash, securities or other property) with respect to any capital stock or other
Equity Interest of the Company or any Subsidiary, or any payment (whether in cash, securities or other property), including any
sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of
any such capital stock or other Equity Interest, or on account of any return of capital to the Company’s stockholders, partners
or members (or the equivalent Person thereof).

 

“Securities Act”
means the Securities Act of 1933, as amended from time to time.

 

“Security”
has the meaning set forth in Section 2(1) of the Securities Act.

 

“Senior Debt”
means the Notes and any Debt of the Company or its Subsidiaries that by its terms is not in any manner subordinated in right of
payment to any other unsecured Debt of the Company or any Subsidiary.

 

“Senior Financial
Officer” means the chief financial officer, principal accounting officer, treasurer or controller of the Company or any
Subsidiary, as the context may require.

 

“Series”
means any one or more Series of Notes issued hereunder.

 

“Series J Notes”
is defined in Section 1.1(a).

 

“Series K Notes”
is defined in Section 1.1(b).

 

“Side Letter”
is defined in Section 4.11.

 

“Source”
is defined in Section 6.2.

 

“State Sanctions
List” means a list that is adopted by any state Governmental Authority within the United States of America pertaining
to Persons that engage in investment or other commercial activities in Iran or any other country that is a target of economic sanctions
imposed under U.S. Economic Sanctions Laws.

 

“Subsidiary”
means, as to any Person, any other Person in which such first Person or one or more of its Subsidiaries or such first Person and
one or more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the
absence of contingencies, to elect a majority of the directors (or Persons performing similar functions) of such second Person,
and any partnership or joint venture if more than a 50% interest in the profits or capital thereof is owned by such first Person
or one or more of its Subsidiaries or such first Person and one or more of its Subsidiaries (unless such partnership or joint venture
can and does ordinarily take major business actions without the prior approval of such Person or one or more of its Subsidiaries).
Unless the context otherwise clearly requires, any reference to a “Subsidiary” is a reference to a Subsidiary of the
Company.

 

Schedule B-14

    	 

	

    

“Subsidiary Guarantee”
is defined in Section 1.2.

 

“Subsidiary Guarantor”
means any Subsidiary that has executed and delivered the Subsidiary Guarantee or the accession agreement thereto pursuant to the
provisions of this Agreement and the Subsidiary Guarantee.

 

“Subsidiary Stock”
means, with respect to any Person, the Capital Stock (or any options or warrants to purchase stock, shares or other Securities
exchangeable for or convertible into stock or shares) of any Subsidiary of such Person.

 

“Successor Corporation”
is defined in Section 10.2.

 

“Swap Contract”
means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity
swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index
swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign
exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate
swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing
(including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any
master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and
conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any
related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement.

 

“Swap Termination
Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable
netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out
and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date
referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based
upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which
may include a holder or any Affiliate of a holder).

 

“Synthetic Lease
Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention
lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of
such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person
(without regard to accounting treatment).

 

“Transfer”
means, with respect to any Person, any transaction in which such Person sells, conveys, transfers or leases (as lessor) any of
its property, including, without limitation, any transfer or issuance of any Subsidiary Stock and any disposition of property to
a Delaware Divided LLC pursuant to a Delaware LLC Division. For purposes of determining the application

 

Schedule B-15

    	 

	

    

of the Net Proceeds in respect of any Transfer,
the Company may designate any Transfer as one or more separate Transfers each yielding separate Net Proceeds. In any such case,
(a) the Disposition Value of any property subject to each such separate Transfer and (b) the amount of Consolidated Total Assets
attributable to any property subject to each such separate Transfer shall be determined by ratably allocating the aggregate Disposition
Value of, and the aggregate Consolidated Total Assets attributable to, all property subject to all such separate Transfers to each
such separate Transfer on a proportionate basis.

 

“Transfer Prepayment
Date” is defined in Section 8.4(a).

 

“Transfer Prepayment
Offer” is defined in Section 8.4(a).

 

“USA PATRIOT Act”
means United States Public Law 107-56, Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder
from time to time in effect.

 

“U.S. Economic
Sanctions” means those laws, executive orders, enabling legislation or regulations administered and enforced by the United
States pursuant to which economic sanctions have been imposed on any Person, entity, organization, country or regime, including
the Trading with the Enemy Act, the International Emergency Economic Powers Act, the Iran Sanctions Act, the Sudan Accountability
and Divestment Act and any other OFAC Sanctions Program.

 

“Voting Stock”
means, with respect to any Person, capital stock (or other equity interests) of any class or classes of a corporation, an association
or another business entity the holders of which are ordinarily, in the absence of contingencies, entitled to vote in the election
of corporate directors (or individuals performing similar functions) of such Person or which permit the holders thereof to control
the management of such Person, including general partnership interests in a partnership and membership interests in a limited liability
company.

 

“Wholly-Owned Subsidiary”
means, at any time, any Subsidiary one hundred percent (100%) of all of the equity interests (except directors’ qualifying
shares) and voting interests of which are owned by any one or more of the Company and the Company’s other Wholly-Owned Subsidiaries
at such time.

 

Schedule B-16

    	 

	

    

SCHEDULE 1.2

 

Subsidiary Guarantors

 

DY4, Inc.

Williams Controls, Inc.

 

Schedule 3

    	 	 	 

    	

    

SCHEDULE 3

 

PAYMENT INSTRUCTIONS AT THE CLOSING

 

Payments by wire should be made to:

 

	 	Bank:	BNY Mellon Bank
	 	 	500 Ross Street
	 	 	Pittsburgh, PA
	 	ABA:	043 000 261
	 	Account:	166-3113
	 	Account Name:	Curtiss-Wright Corporation

 

Schedule 3

    	 	 	 

    	

    

SCHEDULE 4.9

 

CHANGES IN CORPORATE STRUCTURE

 

None

 

Schedule 4.9

    	 	 	 

    	

    

SCHEDULE 5.3

 

DISCLOSURE MATERIALS

 

None

 

Schedule 5.3

    	 	 	 

    	

    

SCHEDULE 5.4

 

SUBSIDIARIES OF THE COMPANY &

OWNERSHIP OF SUBSIDIARY STOCK

 

Curtiss-Wright Corporation and Subsidiaries

 

	Name of Company	 	Jurisdiction of Organization	 	Equity Interest
	 	 	 	 	 	 
	Curtiss-Wright Corporation	 	 	Delaware	 	 
	Metal Improvement Company, LLC	 	 	Delaware	 	100%	 - CWST
	Curtiss-Wright Surface Technologies, LLC	 	 	Delaware	 	100%	 - CWC
	Curtiss-Wright Surface Technologies AB	 	 	Sweden	 	100%	 - MIC
	Curtiss-Wright Electro-Mechanical Corporation	 	 	Delaware	 	100%	 - CWFC
	Curtiss-Wright Flow Control Corporation	 	 	New York	 	100%	 - CWC
	Curtiss-Wright Flow Control Company Canada	 	 	Nova Scotia, Canada 	 	100%	 - CWFC
	Curtiss-Wright Flow Control Service, LLC	 	 	Delaware	 	100%	 - CWC
	Curtiss-Wright Flow Control (U.K.) Ltd.	 	 	England	 	100%	 - CWCV
	Curtiss-Wright Flow Control Korea Co Ltd.	 	 	Korea	 	100%	 - CWFC
	Curtiss-Wright Netherlands CV (Partnership)	 	 	Netherlands	 	44.56%	 - CWCtrls
	 	 	 	 	 	2.55%	 - CWC
	 	 	 	 	 	52.9%	 - CWFC
	Curtiss-Wright Netherlands BV	 	 	Netherlands	 	100%	 - CWCV
	Curtiss-Wright Controls, Inc.	 	 	Delaware	 	100%	 - CWC
	Curtiss-Wright Antriebstechnik, GmbH	 	 	Switzerland	 	99.95%	 - CWCtrls
	 	 	 	 	 	0.05%	 - CWC
	 	 	 	 	 	 
	Curtiss-Wright Controls (UK) Ltd.	 	 	England	 	100%	 - CWCV
	Curtiss-Wright Controls Integrated Sensing, Inc	 	 	Delaware	 	100%	 - CWCtrls
	Dy4, Inc.	 	 	Delaware	 	100%	 - CWCtrls
	Dy4 Systems, Inc.	 	 	Ontario, Canada	 	100%	 - CWCtrls
	Dy4 Systems UK Limited	 	 	England	 	100%	 - D4S
	Indal Technologies, Inc.	 	 	Ontario, Canada	 	100%	 - CWCtrls
	Novatronics, Inc.	 	 	Prince Edward Is.,	 	100%	 - CWAT
	Peerless Instrument Co., Inc.	 	 	New York	 	100%	 - CWC
	Penny & Giles Controls, Ltd	 	 	England	 	100%	 - CWCLTD
	Penny & Giles Aerospace, Ltd.	 	 	England	 	100%	 - CWCLTD
	Penny & Giles GmbH	 	 	Germany	 	100%	 - CWBV
	Primagraphics Limited	 	 	England	 	100%	 - CWCLTD
	Curtiss-Wright Controls Electronic Systems, Inc.	 	 	California	 	100%	 - CWCtrls
	Curtiss-Wright Controls AS	 	 	Norway	 	100%	 - D4I
	Solenoid Valve Closed Joint Stock Company Splav	 	 	Russia JV	 	50%	 - CWFC
	Curtiss-Wright Surface Technologies	 	 	Mexico	 	99%	 - MIC
	Mexico, S.A.de C.V.	 	 	 	 	1%	 - CWST
	Metal Improvement Company Technology Service	 	 	 	 	 

 

Schedule
5.4-1

    	 	 	 

    	

    

	(Suzhou) Ltd	 	 	China	 	100%	 - MIC
	Metal Improvement Company Technology Service	 	 	 	 	 
	(Tianjin) Ltd	 	 	China	 	100%	 - MIC
	Curtiss-Wright Surface Technologies India Private	 	 	India	 	48.97%	 - MIC
	Limited	 	 	 	 	51.03%	 - CWST
	Metal Improvement GmbH	 	 	Switzerland	 	100%	 - MIC
	Curtiss-Wright (Tianjin) Flow Control Co. Ltd.	 	 	China	 	100%	 - CWFC
	Curtiss-Wright Surface Technologies SP. z.o.o	 	 	Poland	 	100%	 - CWSTAB
	Curtiss-Wright Surface Technologies, Unipessoal Lda.	 	 	Portugal	 	100%	 - CCRS
	Component Coatings and Repair Services Ltd.	 	 	England	 	100%	 - CWCV
	EST Group, Inc.	 	 	Pennsylvania	 	100%	 - CWFC
	EST Group B.V.	 	 	Netherlands	 	100%	 - CWFC
	Farris Brasil Industria de Valvulas Ltda.	 	 	Brazil	 	50%	 - CWFC
	 	 	 	 	 	50%	 - CWC
	Nova Machine Products, Inc.	 	 	Delaware	 	100%	 - CWFSC
	Curtiss-Wright Controls de Mexico, S.A.de C.V.	 	 	Mexico	 	99.98%	 - CWIS
	 	 	 	 	 	0.02%	 - CWCtrls
	The Parvus Corporation	 	 	Utah	 	100%	 - CWCtrls
	Curtiss-Wright Controls Costa Rica, S.A.	 	 	Costa Rica	 	100%	 - CWCtrls
	ACRA Control Inc.	 	 	Maryland	 	100%	 - CWCtrls
	ACRA Control Limited	 	 	Ireland	 	100%	 - CWCLTD
	Arens Controls Company LLC	 	 	Illinois	 	100%	 - CWCtrls
	Mechetronics Asia Limited	 	 	Hong Kong	 	100%	 - CWCLTD
	Teletronics Technology Corporation	 	 	Delaware	 	100%	 - CWCtrls
	Tactical Communications Group LLC	 	 	Delaware	 	100%	 - TTC
	901D Holdings, LLC	 	 	Delaware	 	100%	 - PIC
	901D LLC	 	 	New York	 	100%	 - 901D
	Dyna-Flo Control Valve Services Ltd	 	 	Alberta, Canada	 	100%	 - CWFC
	D-Flo Services Inc.	 	 	Texas	 	100%	 - DFC
	Dyna-Flo Control Valve Services Dalian Ltd	 	 	China	 	100%	 - DFC
	IMR Test Labs - Singapore Pte. Ltd.	 	 	Singapore	 	100%	 - MIC
	Williams Controls Inc.	 	 	Delaware	 	100%	 - CWCtrls
	Williams Controls Industries, Inc.	 	 	Delaware	 	100%	 - WCI
	Williams Controls India Private Limited	 	 	India	 	99%	 - WCI
	 	 	 	 	 	1%	 - WCII
	Williams Controls Europe GmbH	 	 	Germany	 	100%	 - WCI
	Williams (Suzhou) Controls Co. Ltd	 	 	China	 	100%	 - WCI
	Exlar Corp.	 	 	Minnesota	 	100%	 - CWCtrls
	Exlar Europe GmbH	 	 	Germany	 	100%	 - EXL
	A.P. Services LLC	 	 	Delaware	 	100%	 - CWFSC

 

Schedule 5.4-2

    	 	 	 

    	

    

	CWFC Phonix Group Gmbh	 	 	Germany	 	100%	 - CWLTD
	Phonix Armaturen-Werke Bregel Gmbh	 	 	Germany	 	100%	 - STR
	Phonix Armaturen-Beteiligungs-Gesellschaft mit beschrankter Haftung	 	 	Germany	 	100%	 - PAWB
	PAW SARL	 	 	France	 	100%	 - PAWB
	Daume Regelarmaturen Gesellschaft mit beschrankter Haftung	 	 	Germany	 	100%	 - CWFCP
	Strack Gmbh	 	 	Germany	 	100%	 - CWFCP
	 	 	 	 	 	 
	KEY	 	 	 	 	 
	CCRS - Component Coatings and Repair Services Ltd.	 	 	 	 	 
	CWAT - Curtiss-Wright Antriebstechnik, GmbH	 	 	 	 	 
	CWBV - Curtiss-Wright Netherlands BV	 	 	 	 	 
	CWC – Curtiss-Wright Corporation	 	 	 	 	 
	CWCLTD - Curtiss-Wright Controls (UK) Ltd.	 	 	 	 	 
	CWCtrls – Curtiss-Wright Controls, Inc.	 	 	 	 	 
	CWCV - Curtiss-Wright Netherlands CV	 	 	 	 	 
	CWEMC - Curtiss-Wright Electro-Mechanical Corporation	 	 	 	 	 
	CWFC – Curtiss-Wright Flow Control Corporation	 	 	 	 	 
	CWFCP - CWFC Phonix Group Gmbh	 	 	 	 	 
	CWFSC – Curtiss-Wright Flow Control Service, LLC	 	 	 	 	 
	CWIS – Curtiss-Wright Integrated Sensing, Inc.	 	 	 	 	 
	CWLTD - - Curtiss-Wright Flow Control (UK) Ltd.	 	 	 	 	 
	CWST – Curtiss-Wright Surface Technologies, LLC	 	 	 	 	 
	CWSTAB - Curtiss-Wright Surface Technologies AB	 	 	 	 	 
	D4I – Dy 4, Inc.	 	 	 	 	 
	D4S – Dy 4 Systems, Inc.	 	 	 	 	 
	DFC - Dyna-Flo Control Valve Services Ltd	 	 	 	 	 
	EXL - Exlar Corp.	 	 	 	 	 
	MIC – Metal Improvement Company, LLC	 	 	 	 	 
	PAWB - Phonix Armaturen-WerkeBregel Gmbh	 	 	 	 	 
	PIC - Peerless Instrument Co., Inc.	 	 	 	 	 
	STR - Strack Gmbh	 	 	 	 	 
	TTC -Teletronics Technology Corporation	 	 	 	 	 
	WCI - Williams Controls Inc.	 	 	 	 	 
	WCII - Williams Controls Industries Inc.	 	 	 	 	 
	901D - 901D Holdings, LLC	 	 	 	 	 

 

Schedule 5.4-3

    	 	 	 

    	

    

SCHEDULE 5.5

 

FINANCIAL STATEMENTS

 

Annual Report for the fiscal year ending
December 31, 2019, and corresponding financial statements as filed with the United States Securities and Exchange Commission on
Forms 10-K for same period.

 

Schedule 5.5

    	 	 	 

    	

    

SCHEDULE 5.8

 

CERTAIN LITIGATION

 

SIGNIFICANT OUTSTANDING LEGAL PROCEEDINGS
AGAINST CURTISS-WRIGHT CORPORATION AND CONSOLIDATED SUBSIDIARIES

 

None

 

Schedule 5.8

    	 	 	 

    	

    

SCHEDULE 5.10

 

TITLE TO PROPERTY

 

None

 

Schedule 5.10

    	 	 	 

    	

    

SCHEDULE 5.11

 

LICENSES & PERMITS

 

None

 

Schedule 5.11

    	 	 	 

    	

    

SCHEDULE 5.12

 

ERISA AFFILIATES, EMPLOYEE BENEFIT PLANS

 

Benefit Plans

 

Curtiss-Wright Corporation Retirement Plan

Curtiss-Wright Corporation Savings & Investment Plan

Curtiss-Wright Electro Mechancial Division Pension Plan (CWEMC
only)

Curtiss-Wright Corporation Executive Deferred Compensation Plan

Curtiss-Wright Corporation Employee Stock Purchase Plan
 Curtiss-Wright Corporation Benefits Restoration Plan

Curtiss-Wright Corporation Employee Health Benefit Plans (medical,
dental and prescription)

Curtiss-Wright Corporation Tuition Plan (not offered at MIC)

Curtiss-Wright Corporation Life Insurance

Curtiss-Wright Corporation Long Term Disability

Curtiss-Wright Corporation Salary Continuation Plan

Curtiss-Wright Corporation Flexible Spending Account

Curtiss-Wright Corporation Business Travel Accident Insurance

Curtiss-Wright Corporation Voluntary Accident Insurance

Curtiss-Wright Corporation Survivor Support Plan

Curtiss-Wright Corporation Severance Allowance Plans

Curtiss-Wright Corporation Legal Plan

Curtiss-Wright Corporation Son’s & Daughter’s
Scholarship Program

Curtiss-Wright Group Legal Plan

Curtiss-Wright Group Financial Planning Plan

Curtiss-Wright Corporation Long Term Incentive Program

Curtiss-Wright Corporation Incentive Compensation Program

Curtiss-Wright Corporation Short Term Disability (NJ, NY, CA)

Curtiss-Wright Corporation Relocation Program

Curtiss-Wright Financial Planning Program (Officer plan)

Curtiss-Wright Executive Physical Plan (Officer and VP/GM level
only)

Washington Group International, Inc. Government Services Executive
Pension Plan

Curtiss-Wright Corporation Retirement Savings Restoration Plan

 

Schedule 5.12

    	 	 	 

    	

    

SCHEDULE 5.15

 

EXISTING DEBT IN EXCESS OF $1,000,000

 

Debt

 

Fourth Amended and Restated Credit Agreement dated October 17,
2018 among the Issuers, certain other subsidiaries of the Company, Bank of America, N.A., as administrative agent and the lenders
party thereto. The facility offers a maximum of $500 million over five years to the Company. The facility expires October 17, 2023.

 

$100MM in 3.84% Series D Senior Guaranteed Notes due December
1, 2021.

 

$200MM in 4.24% Series E Senior Guaranteed Notes due December 1, 2026.

 

$202.5MM in 3.70% Series F Senior Guaranteed Notes
due February 26, 2023.

 

$90MM in 3.85% Series G Senior Guaranteed Notes due February 26, 2025.

 

$67.5MM 4.05% Series H Senior Guaranteed
Notes due February 26, 2028.

 

$90MM 4.11% Series I Senior Guaranteed Notes due September 26, 2028.

 

Schedule 5.15

    	 	 	 

    	

    

SCHEDULE 5.16

 

FOREIGN ASSETS CONTROL REGULATIONS

 

On January 29, 2020 Curtiss-Wright filed an Initial Notice of
Voluntary Self-Disclosure of certain activity that may have violated the Ukraine-Related Sanctions Regulations codified at 31 CFR
589, and Directive 3 under Executive Order 13662, “Blocking Property of Additional Persons Contributing to the Situation
in Ukraine” (“Directive 3”). Curtiss-Wright has retained outside counsel to conduct an investigation into this
matter in order to identify the root cause, implement appropriate remedial measures, and provide OFAC with a supplement to the
Initial disclosure. The investigation revealed that two long-time customers were not originally captured by newly implemented Russian
sanctions. Sometime in 2019, and unbeknown to Curtiss-Wright, both customers were “acquired” by a sanctioned company.
Change of ownership resulted in beneficial ownership sanctions now capturing our two long-time customers.

 

Newly implemented sanctions prohibit credit terms over 30 days.
Curtiss-Wright terms were more than 30 days. A contracts administrator believing he needed to modify the existing invoices for
product already shipped, changed the terms to 30 days so banks would allow payments. Counsel has classified this matter as a low
to medium infraction that may result in a fine. Counsel has noted that there are two mitigating factors regarding the infraction:
(i) the individual acted individually and not with consent of management, and (ii) the individual’s employment was terminated
upon discovery of the actions. We do not believe this will result in a material adverse effect.

 

Schedule 5.16

    	 	 	 

    	

    

EXHIBIT 1.1(a)

 

FORM OF SERIES J NOTE

 

THIS NOTE HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR ANY APPLICABLE SECURITIES LAWS OF THE STATES OF THE
UNITED STATES, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM.

 

CURTISS-WRIGHT CORPORATION 

CURTISS-WRIGHT CONTROLS, INC.

METAL IMPROVEMENT COMPANY, LLC 

CURTISS-WRIGHT FLOW CONTROL CORPORATION 

CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC

CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION 

CURTISS-WRIGHT SURFACE TECHNOLOGIES, LLC

 

3.10% SERIES J SENIOR GUARANTEED NOTE DUE
AUGUST 13, 2030

 

	No. RJ-[____]	[Date]
	$[______]	PPN: 23157# AK5

 

FOR VALUE RECEIVED,
each of the undersigned, CURTISS-WRIGHT CORPORATION, a Delaware corporation (together with its successors and assigns, the
“Company”), CURTISS-WRIGHT CONTROLS, INC., a Delaware corporation (together with its successors and assigns,
“C-W Controls”), METAL IMPROVEMENT COMPANY, LLC, a Delaware limited liability company (together with its successors
and assigns, “Metal”), CURTISS-WRIGHT FLOW CONTROL CORPORATION, a New York corporation (together with its successors
and assigns, “C-W Flow”), CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC, a Delaware limited liability company (together
with its successors and assigns “C-W Flow Control Service”), CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION, a
Delaware corporation (together with its successors and assigns “C-W Electro-Mechanical”) and CURTISS-WRIGHT
SURFACE TECHNOLOGIES, LLC, a Delaware limited liability company (“C-W Surface” and together with the Company,
C-W Controls, Metal, C-W Flow, C-W Flow Control Service and C-W Electro-Mechanical, individually, an “Issuer”
and collectively, the “Issuers”), hereby jointly and severally promises to pay to [_______________________]
or registered assigns, the principal sum of [____________________] DOLLARS ($[____________]) on August 13, 2030 with interest
(computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance thereof at the rate of 3.10% per annum
from the date hereof, payable semiannually, on the 13th day of February and August in each year, commencing with the February 13th
or August 13th next succeeding the date hereof, until the principal hereof shall have become due and payable, and (b) to the extent
permitted by law on any overdue payment (including any overdue prepayment) of principal, any overdue payment of interest and any
overdue payment of any Make-Whole Amount (as defined in the Note Purchase Agreement referred to below),

 

Exhibit 1.1(a)

    	 	 	 

    	

    

payable semiannually as aforesaid (or, at the option of the
registered holder hereof, on demand), at the Default Rate (as defined in the Note Purchase Agreement referred to below).

 

Payments of principal of, interest on and
any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States of America at the address shown
in the register maintained by the Company for such purpose or at such other place as the Issuers shall have designated by written
notice to the holder of this Note as provided in the Note Purchase Agreement referred to below.

 

This Note is one of a series of Series J
Senior Guaranteed Notes (herein called the “Notes”) issued pursuant to that certain Note Purchase Agreement,
dated as of August 13, 2020 (as from time to time amended, the “Note Purchase Agreement”), between the Issuers
and the respective purchasers named therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by
its acceptance hereof, (a) to have agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement
and (b) to have made the representations set forth in Section 6 of the Note Purchase Agreement.

 

This Note is a registered Note and, as provided
in the Note Purchase Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written
instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing,
a new Note for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment
for registration of transfer, the Issuers may treat the person in whose name this Note is registered as the owner hereof for the
purpose of receiving payment and for all other purposes, and the Issuers will not be affected by any notice to the contrary.

 

This Note is subject to optional prepayment,
in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise.

 

If an Event of Default, as defined in the
Note Purchase Agreement, occurs and is continuing, the principal of this Note may be declared or otherwise become due and payable
in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement.

 

Exhibit 1.1(a)

    	 	 	 

    	

    

THIS NOTE SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK EXCLUDING CHOICE-OF-LAW
PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

 

	 	CURTISS-WRIGHT CORPORATION CURTISS-WRIGHT CONTROLS, INC. METAL IMPROVEMENT COMPANY, LLC 

CURTISS-WRIGHT FLOW CONTROL CORPORATION 

CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC 

CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION 

CURTISS-WRIGHT SURFACE TECHNOLOGIES, LLC

 

	 	By:	 

	 	Name:
	 	Title:

 

Exhibit 1.1(a)

    	 	 	 

    	

    

EXHIBIT 1.1(b)

 

FORM OF SERIES K NOTE

 

THIS NOTE HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR ANY APPLICABLE SECURITIES LAWS OF THE STATES OF THE
UNITED STATES, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM.

 

CURTISS-WRIGHT CORPORATION 

CURTISS-WRIGHT CONTROLS, INC.

METAL IMPROVEMENT COMPANY, LLC 

CURTISS-WRIGHT FLOW CONTROL CORPORATION 

CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC

CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION 

CURTISS-WRIGHT SURFACE TECHNOLOGIES, LLC

 

3.20% SERIES K SENIOR GUARANTEED NOTE DUE
AUGUST 13, 2032

 

	No. RK-[____]	[Date]
	$[______]	PPN: 23157# AL3

 

FOR VALUE RECEIVED, each of the undersigned,
CURTISS-WRIGHT CORPORATION, a Delaware corporation (together with its successors and assigns, the “Company”),
CURTISS-WRIGHT CONTROLS, INC., a Delaware corporation (together with its successors and assigns, “C-W Controls”),
METAL IMPROVEMENT COMPANY, LLC, a Delaware limited liability company (together with its successors and assigns, “Metal”),
CURTISS-WRIGHT FLOW CONTROL CORPORATION, a New York corporation (together with its successors and assigns, “C-W Flow”),
CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC, a Delaware limited liability company (together with its successors and assigns “C-W
Flow Control Service”), CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION, a Delaware corporation (together with its successors
and assigns “C-W Electro-Mechanical”) and CURTISS-WRIGHT SURFACE TECHNOLOGIES, LLC, a Delaware limited
liability company (“C-W Surface” and together with the Company, C-W Controls, Metal, C-W Flow, C-W Flow Control
Service and C-W Electro-Mechanical, individually, an “Issuer” and collectively, the “Issuers”),
hereby jointly and severally promises to pay to [_______________________] or registered assigns, the principal sum of [____________________]
DOLLARS ($[____________]) on August 13, 2032 with interest (computed on the basis of a 360-day year of twelve 30-day months)
(a) on the unpaid balance thereof at the rate of 3.20% per annum from the date hereof, payable semiannually, on the 13th day of
February and August in each year, commencing with the February 13th or August 13th next succeeding the date hereof, until the principal
hereof shall have become due and payable, and (b) to the extent permitted by law on any overdue payment (including any overdue
prepayment) of principal, any overdue payment of interest and any overdue payment of any Make-Whole Amount (as defined in the Note
Purchase Agreement referred to below),

 

Exhibit 1.1(b)-1

    	 	 	 

    	

    

payable semiannually as aforesaid (or, at the option of the
registered holder hereof, on demand), at a rate per annum from time to time equal to the Default Rate (as defined in the Note Purchase
Agreement referred to below).

 

Payments of principal of, interest on and
any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States of America at the address shown
in the register maintained by the Company for such purpose or at such other place as the Issuers shall have designated by written
notice to the holder of this Note as provided in the Note Purchase Agreement referred to below.

 

This Note is one of a series of Series K
Senior Guaranteed Notes (herein called the “Notes”) issued pursuant to that certain Note Purchase Agreement,
dated as of August 13, 2020 (as from time to time amended, the “Note Purchase Agreement”), between the Issuers
and the respective purchasers named therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by
its acceptance hereof, (a) to have agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement
and (b) to have made the representations set forth in Section 6 of the Note Purchase Agreement.

 

This Note is a registered Note and, as provided
in the Note Purchase Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written
instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing,
a new Note for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment
for registration of transfer, the Issuers may treat the person in whose name this Note is registered as the owner hereof for the
purpose of receiving payment and for all other purposes, and the Issuers will not be affected by any notice to the contrary.

 

This Note is subject to optional prepayment,
in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise.

 

If an Event of Default, as defined in the
Note Purchase Agreement, occurs and is continuing, the principal of this Note may be declared or otherwise become due and payable
in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement.

 

Exhibit 1.1(b)-1

    	 	 	 

    	

    

THIS NOTE SHALL BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK EXCLUDING CHOICE-OF-LAW
PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

 

	 	CURTISS-WRIGHT CORPORATION 

CURTISS-WRIGHT CONTROLS, INC. 

METAL IMPROVEMENT COMPANY, LLC 

CURTISS-WRIGHT FLOW CONTROL CORPORATION 

CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC 

CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION 

CURTISS-WRIGHT SURFACE TECHNOLOGIES, LLC

 

	 	By:	 

	 	Name:
	 	Title:

 

Exhibit 1.1(b)-1

    	 	 	 

    	

    

EXHIBIT 1.2

 

FORM OF SUBSIDIARY GUARANTEE

 

Exhibit 1.2-1

    	 	 	 

    	

    

Execution Version

 

SUBSIDIARY GUARANTEE AGREEMENT

 

This SUBSIDIARY GUARANTEE
AGREEMENT (as the same may hereafter be amended, supplemented or otherwise modified, this “Guarantee”),
dated as of August 13, 2020, is by each of the entities on the signature page hereto under the heading “Subsidiary Guarantors”
(together with their successors and assigns, the “Subsidiary Guarantors” and each individually a “Subsidiary
Guarantor”) in favor of the Noteholders (defined below).

 

RECITALS:

 

WHEREAS, each Subsidiary
Guarantor is a direct or indirect Subsidiary of Curtiss-Wright Corporation, a Delaware corporation (together with its successors
and assigns, the “Company”);

 

WHEREAS, the Company,
Curtiss-Wright Controls, Inc., a Delaware corporation (together with its successors and assigns, “C-W Controls”),
Metal Improvement Company, LLC, a Delaware limited liability company (together with its successors and assigns, “Metal”),
Curtiss-Wright Flow Control Corporation, a New York corporation (together with its successors and assigns, “C-W Flow”),
Curtiss-Wright Flow Control Service, LLC, a Delaware limited liability company (together with its successors and assigns, “C-W
Flow Control Service”), Curtiss-Wright Electro-Mechanical Corporation, a Delaware corporation (together with its successors
and assigns, “C-W Electro-Mechanical”) and Curtiss-Wright Surface Technologies, LLC, a Delaware limited liability
company (together with its successors and assigns, “C-W Surface” and together with the Company, C-W Controls,
Metal, C-W Flow, C-W Electro-Mechanical and C-W Flow Control Service, individually, an “Issuer” and collectively,
the “Issuers”) have entered into a certain Note Purchase Agreement, dated as of the date hereof (as may be amended,
modified, restated or replaced from time to time, the “Note Purchase Agreement”), with each of the Purchasers
listed on Schedule A attached thereto (collectively, the “Purchasers”, and together with their successors and
assigns including, without limitation, future holders of the Notes (defined below), herein collectively referred to as the “Noteholders”),
pursuant to which the Issuers, among other things, are issuing to the Purchasers (a) $150,000,000 aggregate principal amount of
their joint and several 3.10% Series J Senior Guaranteed Notes due August 13, 2030 (including any amendments, restatements or modifications
from time to time, the “Series J Notes”) and (b) $150,000,000 aggregate principal amount of their joint and
several 3.20% Series K Senior Guaranteed Notes due August 13, 2032 (including any amendments, restatements or modifications from
time to time, the “Series K Notes”, and together with the Series J Notes, collectively, the “Notes”,
such term to include any such notes issued in substitution therefor pursuant to Section 13 of the Note Purchase Agreement); and

 

WHEREAS, to induce
each Purchaser to purchase the Notes and as a condition precedent to the consummation of the transactions contemplated by the Note
Purchase Agreement, each Subsidiary Guarantor is required pursuant to the Note Purchase Agreement to guaranty jointly and severally
and unconditionally all of the obligations of the Issuers under and in respect of the Notes, the Note Purchase Agreement and the
other Financing Documents pursuant to the terms and provisions hereof.

    	 	 	 

    	

    

NOW THEREFORE, in
consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged and confirmed, each of the Subsidiary Guarantors hereby agrees as follows:

 

	1.	DEFINITIONS.

 

All capitalized terms used
herein and not defined herein have the respective meanings given them in the Note Purchase Agreement.

 

	2.	GUARANTEE.

 

	 	2.1.	Guarantied Obligations.

 

Each Subsidiary Guarantor,
in consideration of the execution and delivery of the Note Purchase Agreement and the purchase of the Notes by the Purchasers,
hereby irrevocably, unconditionally, and absolutely guarantees, on a joint and several and continuing basis with each other Subsidiary
Guarantor, to each Noteholder as and for such Subsidiary Guarantor’s own debt, until final and indefeasible payment of the
amounts referred to in clause (a) below has been made:

 

(a)     the
due and punctual payment by the Issuers of the principal of, and interest, and the Make-Whole Amount (if any) on, the Notes at
any time outstanding and the due and punctual payment of all other amounts payable, including, without limitation, all fees and
expenses and all other Debt owing by the Issuers to the Noteholders under the Note Purchase Agreement, the Notes and the other
Financing Documents (including, without limitation, monetary obligations incurred during the pendency of any bankruptcy, insolvency,
winding-up, receivership or other similar proceeding regardless of whether allowed or allowable in such proceeding including, without
limitation, interest accrued on the Notes during any such proceeding), in each case when and as the same shall become due and payable,
whether at maturity, pursuant to mandatory or optional prepayment, by acceleration or otherwise, all in accordance with the terms
and provisions hereof and thereof; it being the intent of each Subsidiary Guarantor that the guarantee set forth herein shall be
a continuing guarantee of payment and not a guarantee of collection; and

 

(b)    the
punctual and faithful performance, keeping, observance, and fulfillment by the Issuers of all duties, agreements, covenants and
obligations of the Issuers contained in the Note Purchase Agreement, the Notes and the other Financing Documents.

 

All of the obligations set forth in clause
(a) and clause (b) of this Section 2.1 are referred to herein as the “Guarantied Obligations”.

 

	 	2.2.	Payments and Performance.

 

In the event that the Issuers
fail to make, on or before the due date thereof, any payment to be made in respect of the Guarantied Obligations or if the Issuers
shall fail to perform, keep, observe, or fulfill any other obligation referred to in clause (a) or clause (b) of Section 2.1 in
the manner provided in the Note Purchase Agreement, the Notes and the other Financing

    	2

    	

    

Documents, the Subsidiary Guarantors shall
cause forthwith to be paid the moneys, or to be performed, kept, observed, or fulfilled each of such obligations in respect of
which such failure has occurred in accordance with the terms and provisions of the Note Purchase Agreement, the Notes and the other
Financing Documents. In furtherance of the foregoing, if an Event of Default shall exist, all of the Guarantied Obligations shall,
upon notice provided to the Subsidiary Guarantors by the Required Holders, forthwith become due and payable without further notice,
regardless of whether the acceleration of the Notes shall be stayed, enjoined, delayed or otherwise prevented.

 

	 	2.3.	Releases.

 

Each Subsidiary Guarantor
consents and agrees that, without any notice whatsoever to or by such Subsidiary Guarantor and without impairing, releasing, abating,
deferring, suspending, reducing, terminating or otherwise affecting the obligations of such Subsidiary Guarantor hereunder, each
Noteholder, by action or inaction, may:

 

(a)    compromise
or settle, renew or extend the period of duration or the time for the payment, or discharge the performance of, or may refuse to,
or otherwise not, enforce, or may, by action or inaction, release all or any one or more parties to, any one or more of the Note
Purchase Agreement, the Notes, any other Financing Document or any other guarantee or agreement or instrument related thereto or
hereto;

 

(b)    assign,
sell or transfer, or otherwise dispose of, any one or more of the Notes;

 

(c)    grant waivers,
extensions, consents and other indulgences of any kind whatsoever to any Issuer, any Subsidiary Guarantor or any other Person liable
in any manner in respect of all or any part of the Guarantied Obligations;

 

(d)    amend,
modify or supplement in any manner whatsoever and at any time (or from time to time) any one or more of the Note Purchase Agreement,
the Notes, any other Financing Document, any other guarantee or any agreement or instrument related thereto or hereto;

 

(e)    release
or substitute any one or more of the Subsidiary Guarantors, the endorsers or any other guarantors of the Guarantied Obligations
whether parties hereto or not, or obtain any additional endorsers or any other guarantors of the Guarantied Obligations; and

 

(f)    sell, exchange,
release, accept, surrender or enforce rights in, or fail to obtain or perfect or to maintain, or caused to be obtained, perfected
or maintained, the perfection of any Lien or other security interest or charge on, by action or inaction, any property at any time
pledged or granted as security in respect of the Guarantied Obligations, whether so pledged or granted by any Issuer, any Subsidiary
Guarantor or any other Person.

 

Each Subsidiary Guarantor
hereby ratifies and confirms any such action specified in this Section 2.3 and agrees that the same shall be binding upon such
Subsidiary Guarantor, whether

    	3

    	

    

or not such Subsidiary Guarantor shall have
consented thereto or received notice thereof. Each Subsidiary Guarantor hereby waives any and all defenses, counterclaims or offsets
which such Subsidiary Guarantor might or could have by reason thereof.

 

	 	2.4.	Waivers.

 

To the fullest extent permitted
by law, each Subsidiary Guarantor hereby waives:

 

(a)    notice
of acceptance of this Guarantee;

 

(b)    notice
of any purchase or acceptance of the Notes under the Note Purchase Agreement, or the creation, existence or acquisition of any
of the Guarantied Obligations, subject to such Subsidiary Guarantor’s right to make inquiry of each Noteholder to ascertain
the amount of the Guarantied Obligations at any reasonable time;

 

(c)     notice
of the amount of the Guarantied Obligations, subject to such Subsidiary Guarantor’s right to make inquiry of each Noteholder
to ascertain the amount of the Guarantied Obligations at any reasonable time;

 

(d)    notice
of adverse change in the financial condition of the Issuers or any other guarantor or any other fact that might increase such Subsidiary
Guarantor’s risk hereunder;

 

(e)     notice
of presentment for payment, demand, protest, and notice thereof as to the Notes or any other instrument;

 

(f)       except
to the extent set forth in Section 2.2 hereof, notice of any Default or Event of Default;

 

(g)    all other
notices and demands to which such Subsidiary Guarantor might otherwise be entitled (except if such notice or demand is specifically
otherwise required to be given to such Subsidiary Guarantor under this Guarantee);

 

(h)    the right
by statute or otherwise to require any or each Noteholder to institute suit against any Issuer, any Subsidiary Guarantor or any
other guarantor or to exhaust the rights and remedies of any or each Noteholder against any Issuer, any Subsidiary Guarantor, or
any other guarantor, such Subsidiary Guarantor being bound to the payment of each and all Guarantied Obligations, whether now existing
or hereafter accruing, as fully as if such Guarantied Obligations were directly owing to each Noteholder by such Subsidiary Guarantor;

 

(i)    any defense
arising by reason of any disability or other defense (other than the defense that the Guarantied Obligations shall have been fully
and finally performed and indefeasibly paid) of the Issuers or by reason of the cessation from any cause whatsoever of the liability
of any of the Issuers in respect thereof;

 

(j)    any stay
(except in connection with a pending appeal), valuation, appraisal, redemption or extension law now or at any time hereafter in
force that, but for

    	4

    	

    

this waiver, might be applicable to
any sale of property of such Subsidiary Guarantor made under any judgment, order or decree based on the Note Purchase Agreement
or this Guarantee, or any other Financing Document and such Subsidiary Guarantor covenants that it will not at any time insist
upon or plead, or in any manner claim or take the benefit or advantage of, any such law; and

 

(k)    at
all times prior to the full and final performance and indefeasible payment of the Guarantied Obligations, any claim of any nature
arising out of any right of indemnity, contribution, reimbursement, indemnification or any similar right or any claim of subrogation
(whether such right or claim arises under contract, common law or statutory or civil law) arising in respect of any payment made
under this Guarantee or in connection with this Guarantee, against any Issuer or any Subsidiary Guarantor or the estate of any
Issuer (including Liens on the property of any Issuer or the estate of any Issuer or any Subsidiary Guarantor), in each case whether
or not any Issuer or any Subsidiary Guarantor at any time shall be the subject of any proceeding brought under any bankruptcy law,
and such Subsidiary Guarantor further agrees that it will not file any claims against any Issuer or any Subsidiary Guarantor or
the estate of any Issuer or any Subsidiary Guarantor in the course of any such proceeding or otherwise, and further agrees that
each Noteholder may specifically enforce the provisions of this clause (k).

 

	 	2.5.	Marshaling; Invalid Payments.

 

Each Subsidiary Guarantor consents
and agrees:

 

(a)    that each Noteholder,
and each Person acting for the benefit of one or more of the Noteholders, shall be under no obligation to marshal any assets in
favor of the Subsidiary Guarantors or against or in payment of any or all of the Guarantied Obligations; and

 

(b) that, to the
extent that the Issuers make a payment or payments to any Noteholder, which payment or payments or any part thereof are subsequently
invalidated, declared to be fraudulent or preferential, set aside or required, for any of the foregoing reasons or for any other
reason, to be repaid or paid over to a custodian, trustee, receiver, administrative receiver, administrator or any other party
or officer under any bankruptcy law, other common or civil law, or equitable cause, then, to the extent of such payment or repayment,
the obligation or part thereof intended to be satisfied thereby shall be revived and continued in full force and effect as if such
payment or payments had not been made and the Subsidiary Guarantors shall be primarily liable for such obligation.

 

	 	2.6.	Immediate Liability.

 

Each Subsidiary Guarantor
agrees that the liability of the Subsidiary Guarantors in respect of this Guarantee shall be immediate and shall not be contingent
upon the exercise or enforcement by any Noteholder or any other Person of whatever remedies such Noteholder or other Person may
have against any Issuer, any Subsidiary Guarantor or any other guarantor or the enforcement of any Lien or realization upon any
security such Noteholder or other Person may at any time possess.

    	5

    	

    

	 	2.7.	Primary Obligations.

 

This Guarantee is a primary
and original obligation of each Subsidiary Guarantor and is an absolute, unconditional, continuing and irrevocable joint and several
guaranty of payment and performance of the Guarantied Obligations and shall remain in full force and effect regardless of any action
by any Noteholder specified in Section 2.3 or any future changes in conditions, including, without limitation, change of law or
any invalidity or irregularity with respect to the issuance or assumption of any obligations (including, without limitation, the
Notes) of or by any Issuer, any Subsidiary Guarantor or any other guarantor, or with respect to the execution and delivery of any
agreement (including, without limitation, the Notes, the Note Purchase Agreement and any other Financing Document) of the Issuers
or any other Person.

 

	 	2.8.	No Reduction or Defense.

 

The obligations of the Subsidiary
Guarantors under this Guarantee, and the rights of any Noteholder to enforce such obligations by any proceedings, whether by action
at law, suit in equity or otherwise, shall not be subject to any reduction, limitation, impairment or termination, whether by reason
of any claim of any character whatsoever or otherwise, including, without limitation, claims of waiver, release, surrender, alteration
or compromise, and shall not be subject to any defense (other than any defense based upon the irrevocable payment and performance
in full of the obligations of the Issuers under the Note Purchase Agreement and the Notes), set-off, counterclaim, recoupment or
termination whatsoever.

 

Without limiting the generality
of the foregoing, the obligations of the Subsidiary Guarantors shall not be discharged or impaired by:

 

(a)    any
default (including, without limitation, any Default or Event of Default), failure or delay, willful or otherwise, in the performance
of any obligations by any Subsidiary Guarantor, any Issuer, any Subsidiary or any of their respective Affiliates;

 

(b)    any
proceeding of, or involving, any Issuer, any Subsidiary Guarantor or any other Subsidiary under any bankruptcy law, or any merger,
consolidation, reorganization, dissolution, liquidation, sale of assets or winding-up or change in corporate constitution or corporate
identity or loss of corporate identity of any Issuer, any Subsidiary Guarantor any of the other Subsidiaries or any of their respective
Affiliates;

 

(c)    any
incapacity or lack of power, authority or legal personality of, or dissolution or change in the members or status of, any Issuer
or any other Person;

 

(d)    impossibility
or illegality of performance on the part of the any Issuer under the Notes, the Note Purchase Agreement, any other Financing Document
or any other instruments or agreements;

 

(e)    the
invalidity, irregularity or unenforceability of the Notes, the Note Purchase Agreement, any other Financing Document or any other
instruments or agreements;

    	6

    	

    

(f)    in
respect of any Issuer or any other Person, any change of circumstances, whether or not foreseen or foreseeable, whether or not
imputable to any Issuer or any other Person, or other impossibility of performance through fire, explosion, accident, labor disturbance,
floods, droughts, embargoes, wars (whether or not declared), terrorist activities, civil commotions, acts of God or the public
enemy, delays or failure of suppliers or carriers, inability to obtain materials or any other causes affecting performance, or
any other force majeure, whether or not beyond the control of any Issuer or any other Person and whether or not of the kind hereinbefore
specified;

 

(g)    any
attachment, claim, demand, charge, Lien, order, process or any other happening or event or reason, similar or dissimilar to the
foregoing, or any withholding or diminution at the source, by reason of any taxes, assessments, expenses, indebtedness, obligations
or liabilities of any character, foreseen or unforeseen, and whether or not valid, incurred by or against any Person, corporation
or entity, or any claims, demands, charges or Liens of any nature, foreseen or unforeseen, incurred by any Person, or against any
sums payable under the Note Purchase Agreement, the Notes or any other Financing Document, so that such sums would be rendered
inadequate or would be unavailable to make the payments herein provided; or

 

(h)    any
order, judgment, decree, ruling or regulation (whether or not valid) of any court of any nation or of any political subdivision
thereof or any Governmental Authority, or any other action, happening, event or reason whatsoever which shall delay, interfere
with, hinder or prevent, or in any way adversely affect, the performance by any Issuer of any of its obligations under the Note
Purchase Agreement, the Notes or any other Financing Document.

 

	 	2.9.	No Election.

 

Each Noteholder shall, individually
or collectively, have the right to seek recourse against each Subsidiary Guarantor to the fullest extent provided for herein for
its joint and several obligations under this Guarantee. No election to proceed in one form of action or proceeding, or against
any party, or on any obligation, shall constitute a waiver of such Noteholder’s right to proceed in any other form of action
or proceeding or against other parties unless such Noteholder has expressly waived such right in writing. Specifically, but without
limiting the generality of the foregoing, no action or proceeding by or on behalf of any Noteholder against any Issuer, any Subsidiary
Guarantor or any other Person under any document or instrument evidencing obligations of the Issuers or such other Person to or
for the benefit of such Noteholder shall serve to diminish the liability of any Subsidiary Guarantor under this Guarantee except
to the extent that such Noteholder unconditionally shall have realized payment by such action or proceeding.

 

	 	2.10.	Severability.

 

Each of the rights and remedies
granted under this Guarantee to each Noteholder in respect of the Notes held by such Noteholder may be exercised by such Noteholder
without notice to, or the consent of or any other action by, any other Noteholder.

    	7

    	

    

	 	2.11.	Appropriations.

 

Until all amounts which
may be or become payable by the Issuers under or in connection with the Note Purchase Agreement, the Notes and the other Financing
Documents, or by the Subsidiary Guarantors under or in connection with this Guarantee, have been irrevocably paid in full, any
Noteholder (or any trustee or agent on its behalf) may refrain from applying or enforcing any other moneys, security or rights
held or received by such Noteholder (or any trustee or agent on its behalf) in respect of those amounts, or apply and enforce the
same in such manner and order as it sees fit (whether against those amounts or otherwise) and the Subsidiary Guarantors shall not
be entitled to the benefit of the same.

 

	 	2.12.	Other Enforcement Rights.

 

Each Noteholder may proceed
to protect and enforce this Guarantee by suit or suits or proceedings in equity, at law or in bankruptcy or insolvency, and whether
for the specific performance of any covenant or agreement contained herein or in execution or aid of any power herein granted;
or for the recovery of judgment for the obligations hereby guaranteed or for the enforcement of any other proper, legal or equitable
remedy available under applicable law.

 

	 	2.13.	Restoration of Rights and Remedies.

 

If any Noteholder shall
have instituted any proceeding to enforce any right or remedy against any or all Subsidiary Guarantors under this Guarantee or
otherwise and such proceeding shall have been discontinued or abandoned for any reason, or shall have been determined adversely
to such Noteholder, then and in every such case each such Noteholder, the Issuers and the Subsidiary Guarantors shall, except as
may be limited or affected by any determination in such proceeding, be restored severally and respectively to its respective former
position hereunder, and thereafter the rights and remedies of such Noteholder shall continue as though no such proceeding had been
instituted.

 

	 	2.14.	Survival; Term of Guaranty.

 

So long as the Guarantied
Obligations shall not have been fully and finally performed and indefeasibly paid, the obligations of the Subsidiary Guarantors
under this Guarantee shall survive the transfer and payment of any Note and the payment in full of all the Notes. Subject to Section
9.7(c) in the Note Purchase Agreement, this Guarantee and all guarantees, covenants and agreements of the Subsidiary Guarantors
contained herein shall continue in full force and effect and shall not be discharged until such time as all of the Guarantied Obligations
and all other obligations hereunder shall be indefeasibly paid in full and shall be subject to reinstatement pursuant to Section
2.13.

 

	 	2.15.	Subordination.

 

(a)    Upon
the occurrence and continuance of an Event of Default, the payment of any amounts due with respect to any Debt of the Issuers for
money borrowed or credit received then or thereafter owed to the Subsidiary Guarantors shall be automatically subordinated to the
prior payment in full of all of the Guarantied Obligations. Each Subsidiary Guarantor agrees, after the occurrence and during the
continuation of an Event

    	8

    	

    

of Default, no Subsidiary Guarantor
will demand, sue for or otherwise exercise any remedies seeking to collect any such Debt of any Issuer to any Subsidiary Guarantor
until all of the Guarantied Obligations shall have been paid in full. If, notwithstanding the foregoing sentence, any Subsidiary
Guarantor shall collect, enforce or receive any amounts in respect of such Debt while any Guarantied Obligations are still outstanding,
such amounts shall be collected, enforced and received by such Subsidiary Guarantor as trustee for the Noteholders and be paid
over to the Noteholders on account of the Guarantied Obligations without affecting in any manner the liability of any Subsidiary
Guarantor under the other provisions of this Guarantee.

 

(b)    Each
Subsidiary Guarantor hereby agrees that to the extent a Subsidiary Guarantor shall have paid more than its proportionate share
of any payment made hereunder, such Subsidiary Guarantor shall be entitled to seek and receive contribution from and against any
other Subsidiary Guarantor hereunder that has not paid its proportionate share of such payment. Each Subsidiary Guarantor’s
right of contribution shall be subject to the terms and conditions of Section 2.15(a) hereof. The provisions of this Section shall
in no respect limit the obligations and liabilities of any Subsidiary Guarantor to any Noteholder, and each Subsidiary Guarantor
shall remain liable to each Noteholder for the full amount guaranteed by such Subsidiary Guarantor hereunder.

 

	3.	REPRESENTATIONS AND WARRANTIES.

 

Each Subsidiary Guarantor hereby represents
and warrants to the Noteholders that:

 

	 	3.1.	Affirmation of Representations and Warranties in Note Purchase Agreement.

 

Each Subsidiary Guarantor
hereby represents and warrants that each of the representations and warranties made by the Issuers in the Note Purchase Agreement
as to it is true and correct.

 

	 	3.2.	Economic Benefit.

 

The Subsidiary Guarantors and the Issuers operate
as separate businesses but are considered a single consolidated business group of companies for purposes of GAAP and are dependent
upon each other for and in connection with their respective business activities and financial resources. The execution and delivery
by the Noteholders of the Note Purchase Agreement and the maintenance of certain financial accommodations thereunder constitute
an economic benefit to the Subsidiary Guarantors and the incurrence by the Issuers of the Debt under the Note Purchase Agreement
and the Notes is in the best interests of the Subsidiary Guarantors. The board of directors (or similar governing body) of each
Subsidiary Guarantor has deemed it advisable and in the best interest of such Subsidiary Guarantor that the transactions provided
for in the Note Purchase Agreement and herein be consummated.

 

	 	3.3.	Solvency.

 

The fair value of the business and assets of
the Subsidiary Guarantors, taken as a whole, after taking into account the likelihood of any payment being required in respect
of any

    	9

    	

    

contingent liability (including, without limitation,
the Guarantied Obligations), is in excess of the amount that will be required to pay their liabilities (including, without limitation,
contingent, subordinated, unmatured and unliquidated liabilities on existing debts, as such liabilities may become absolute and
matured), in each case both before and after giving effect to the transactions contemplated by this Guarantee, the Note Purchase
Agreement, the Notes and the other Financing Documents. After giving effect to the transactions contemplated by this Guarantee
and the other Financing Documents, the Subsidiary Guarantors, taken as a whole, will not be rendered insolvent nor will they be
engaged in any business or transaction, or about to engage in any business or transaction, for which they have unreasonably small
capital, and the Subsidiary Guarantors, taken as a whole, have no intent to hinder, delay or defraud any entity to which they are,
or will become, on or after the date of the Series J Closing, indebted or to incur debts that would be beyond their ability to
pay as they mature.

 

	 	3.4.	Independent Credit Evaluation.

 

Each Subsidiary Guarantor
has independently, and without reliance on any information supplied by any one or more of the Noteholders, taken, and will continue
to take, whatever steps such Subsidiary Guarantor deems necessary to evaluate the financial condition and affairs of the Issuers,
and the Noteholders shall have no duty to advise any Subsidiary Guarantor of information at any time known to the Noteholders regarding
such financial condition or affairs.

 

	 	3.5.	No Representation By Noteholders.

 

Except as set forth in Section
6 of the Note Purchase Agreement, none of the Noteholders nor any trustee or agent acting on its behalf has made any representation,
warranty or statement to any Subsidiary Guarantor to induce any Subsidiary Guarantor to execute this Guarantee.

 

	 	3.6.	Survival.

 

All representations and
warranties made by each Subsidiary Guarantor herein shall survive the execution hereof and may be relied upon by the Noteholders
as being true and accurate until the Guarantied Obligations are fully and irrevocably paid.

 

	4.	COVENANTS.

 

Each Subsidiary Guarantor
hereby covenants and agrees that, so long as any part of the Guarantied Obligations shall remain unpaid, such Subsidiary Guarantor
will perform and observe, and cause each of its Subsidiaries to perform and observe, all of the terms, covenants and agreements
set forth in the Note Purchase Agreement on its or their part to be performed or observed or that the Issuers have agreed to cause
any Subsidiary Guarantor or such Subsidiaries to perform or observe.

 

	5.	SUCCESSORS AND ASSIGNS.

 

This Guarantee shall bind
the successors, assignees, trustees, and administrators of each Subsidiary Guarantor and shall inure to the benefit of the Noteholders,
and each of their respective successors, transferees, participants and assignees as provided in the Note Purchase Agreement; except
that, subject to Section 10.2 of the Note Purchase Agreement, the Subsidiary

    	10

    	

    

Guarantors may not assign or otherwise transfer
any of their rights or obligations hereunder without the prior written consent of each Noteholder. Nothing in this Guarantee, expressed
or implied, shall be construed to confer upon any Person (other than the parties hereto and their respective successors and assigns
permitted hereby) any legal or equitable right, remedy or claim under or by reason of this Guarantee.

 

	6.	AMENDMENTS AND WAIVERS.

 

This Subsidiary Guarantee
may be amended, and the observance of any term hereof may be waived (either retroactively or prospectively), with (and only with)
the written consent of each Subsidiary Guarantor and the Required Holders, except that no amendment or waiver (a) of Section 2
or 6 hereof, or any defined term (as it is used therein), or (b) which results in the limitation of the liability of any Guarantor
hereunder (other than amendments to Section 13) will be effective as to any Noteholder unless consented to by such Noteholder in
writing. No failure by the Noteholders to exercise, and no delay by the Noteholders in exercising, any right, remedy, power or
privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise by the Noteholders of any right,
remedy, power or privilege hereunder preclude any other exercise thereof, or the exercise of any other right, remedy, power or
privilege.

 

	7.	RIGHTS CUMULATIVE.

 

Each of the rights and remedies
of the Noteholders under this Guarantee shall be in addition to all of their other rights and remedies under the Note Purchase
Agreement and applicable law, and nothing in this Guarantee shall be construed as limiting any such rights or remedies.

 

	9.	SEVERABILITY.

 

Any provision of this Guarantee
which is prohibited, unenforceable or not authorized in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such prohibition, unenforceability or nonauthorization without invalidating the remaining provisions hereof, and any
such prohibition, unenforceability or nonauthorization in any jurisdiction shall (to the fullest extent permitted by law) not invalidate
or render unenforceable such provision in any other jurisdiction.

 

	10.	GOVERNING LAW.

 

THIS GUARANTEE SHALL
BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE LAW OF THE STATE OF NEW YORK
EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER
THAN SUCH STATE.

 

	11.	JURISDICTION AND PROCESS; WAIVER OF JURY TRIAL.

 

(a)    Each
Subsidiary Guarantor irrevocably submits to the non-exclusive jurisdiction of any New York State or federal court sitting in the
Borough of Manhattan, The City of New

    	11

    	

    

York, over any suit, action or proceeding arising
out of or relating to this Guarantee. To the fullest extent permitted by applicable law, each Subsidiary Guarantor irrevocably
waives and agrees not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction
of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding
brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in
an inconvenient forum.

 

(b)    The
Subsidiary Guarantors agree, to the fullest extent permitted by applicable law, that a final judgment in any suit, action or proceeding
of the nature referred to in Section 11(a) brought in any such court shall be conclusive and binding upon it subject to rights
of appeal, as the case may be, and may be enforced in the courts of the United States of America or the State of New York (or any
other courts to the jurisdiction of which it or any of its assets is or may be subject) by a suit upon such judgment.

 

(c)    Each
Subsidiary Guarantor consents to process being served by or on behalf of any Noteholder in any suit, action or proceeding of the
nature referred to in Section 11(a) by mailing a copy thereof by registered, certified priority or express mail (or any substantially
similar form of mail), postage prepaid, return receipt or delivery receipt requested, to it at its address specified in Section
15 or at such other address of which such Noteholder shall then have been notified pursuant to said Section. Each Subsidiary Guarantor
agrees that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such suit,
action or proceeding and (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal
service upon and personal delivery to it. Notices hereunder shall be conclusively presumed received as evidenced by a delivery
receipt furnished by the United States Postal Service or any reputable commercial delivery service.

 

(d)    Nothing
in this Section 11 shall affect the right of any Noteholder to serve process in any manner permitted by law, or limit any right
that any Noteholder may have to bring proceedings against any Subsidiary Guarantor in the courts of any appropriate jurisdiction
or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction.

 

(e)    Each
of the Subsidiary Guarantors hereby waives trial by jury in any action brought on or with respect to this Guarantee or any other
document executed in connection herewith or therewith.

 

	12.	SECTION HEADINGS.

 

Section headings are for convenience only and
shall not affect the interpretation of this Guarantee.

 

	13.	LIMITATION OF LIABILITY.

 

NOTWITHSTANDING ANYTHING
CONTAINED IN THIS GUARANTEE TO THE CONTRARY, THE OBLIGATIONS OF EACH SUBSIDIARY GUARANTOR HEREUNDER AT ANY TIME SHALL BE LIMITED
TO THE MAXIMUM AMOUNT AS WILL RESULT IN THE OBLIGATIONS OF SUCH SUBSIDIARY GUARANTOR UNDER THIS GUARANTEE NOT CONSTITUTING A FRAUDULENT
TRANSFER OR CONVEYANCE

    	12

    	

    

FOR PURPOSES OF ANY BANKRUPTCY, LIQUIDATION,
ASSIGNMENT FOR THE BENEFIT OF CREDITORS, CONSERVATORSHIP, MORATORIUM, RECEIVERSHIP, INSOLVENCY, REARRANGEMENT, REORGANIZATION OR
SIMILAR DEBTOR RELIEF LAWS OF THE UNITED STATES OR OTHER APPLICABLE JURISDICTIONS IN EFFECT FROM TIME TO TIME TO THE EXTENT APPLICABLE
TO THIS GUARANTEE AND THE OBLIGATIONS OF EACH SUBSIDIARY GUARANTOR HEREUNDER.

 

	14.	ENTIRE AGREEMENT.

 

This Guarantee, together
with the Note Purchase Agreement, the Notes and the other Financing Documents, embodies the entire agreement among the Subsidiary
Guarantors and the Noteholders relating to the subject matter hereof and supersedes all prior agreements, representations and understandings,
if any, relating to the subject matter hereof.

 

	15.	COMMUNICATIONS.

 

All notices and other
communications to the Noteholders or any Subsidiary Guarantor hereunder shall be in writing, shall be delivered in the manner
and with the effect, as provided by the Note Purchase Agreement, and shall be addressed to such Subsidiary Guarantor as set
forth in Annex A hereto and to the Noteholders as set forth in the Note Purchase Agreement.

 

	16.	ADDITIONAL SUBSIDIARY GUARANTORS.

 

Upon the execution and
delivery by any Person of an accession agreement in substantially the form of Annex B hereto (each, a “Subsidiary
Guarantee Accession Agreement”), (i) such Person shall be referred to as an “Additional Subsidiary Guarantor”
and shall become and be a Subsidiary Guarantor hereunder, and each reference in this Guarantee to a “Subsidiary Guarantor”
shall also mean and be a reference to such Additional Subsidiary Guarantor, and each reference in any other Financing Document
to a “Subsidiary Guarantor” shall also mean and be a reference to such Additional Subsidiary Guarantor, and
(ii) each reference herein to “this Guarantee”, “hereunder”, “hereof” or words of like import
referring to this Guarantee, and each reference in any other Financing Document to the “Subsidiary Guarantee”, “thereunder”,
“thereof” or words of like import referring to this Guarantee, shall mean and be a reference to this Guarantee as
supplemented by such Subsidiary Guarantee Accession Agreement.

 

	17.	DUPLICATE ORIGINALS.

 

Two or more duplicate counterpart
originals hereof may be signed by the parties, each of which shall be an original but all of which together shall constitute one
and the same instrument. The parties agree to electronic contracting and signatures with respect to this Guarantee. Delivery of
an electronic signature to, or a signed copy of, this Guarantee by facsimile, email or other electronic transmission shall be fully
binding on the parties to the same extent as the delivery of the signed originals and shall be admissible into evidence for all
purposes. The words “execution,” “execute”, “signed,” “signature,” and words of
like import in or related to any document to be signed in connection with this Guarantee shall be deemed to include electronic
signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Company
on behalf of the Subsidiary Guarantors, or the

    	13

    	

    

keeping of records in electronic form, each
of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based
recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic
Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar
state laws based on the Uniform Electronic Transactions Act. Notwithstanding the foregoing, if any Noteholder shall request manually
signed counterpart signatures to this Guarantee, the Subsidiary Guarantors hereby agree to use its reasonable endeavors to provide
such manually signed signature pages as soon as reasonably practicable.

    	14

    	

    

IN WITNESS WHEREOF, each
Subsidiary Guarantor has caused this Guarantee to be duly executed and delivered by its officer thereunto duly authorized as of
the date first above written.

 

	 	SUBSIDIARY GUARANTORS:
	 	 
	 	DY 4, INC.
	 	WILLIAMS CONTROLS, INC.
	 	 

	 	By:	

	 	Name:	Harry Jakubowitz
	 	Title:	Vice President & Treasurer

 

 

(Signature Page to Curtiss-Wright Corporation,
et al Subsidiary Guarantee Agreement)

    	 	 	 

    	

    

ANNEX A

 

NOTICE ADDRESSES OF SUBSIDIARY GUARANTORS:

 

DY 4, Inc.

Williams Controls, Inc.

 

c/o Curtiss-Wright Corporation

130 Harbour Place Drive, Suite 300

Davidson, NC 28036

    	 	 	 

    	

    

ANNEX B

 

SUBSIDIARY GUARANTOR

ACCESSION AGREEMENT

 

[NAME OF ADDITIONAL SUBSIDIARY GUARANTOR]

 

To each of the holders of Notes:

 

		Date:	[Month] [Day], 20[__]

 

Reference is made to:

 

(a) that certain
Note Purchase Agreement, dated as of August 13, 2020 (as amended from time to time, the “Note Purchase Agreement”),
by and among Curtiss-Wright Corporation, a Delaware corporation, (together with its successors and assigns, the “Company”),
Curtiss-Wright Controls, Inc., a Delaware corporation (together with its successors and assigns, “C-W Controls”),
Metal Improvement Company, LLC, a Delaware limited liability company (together with its successors and assigns, “Metal”),
Curtiss-Wright Flow Control Corporation, a New York corporation (together with its successors and assigns, “C-W Flow”),
Curtiss-Wright Flow Control Service, LLC, a Delaware limited liability company (together with its successors and assigns, “C-W
Flow Control Service”), Curtiss-Wright Electro-Mechanical Corporation, a Delaware corporation (together with its successors
and assigns, “C-W Electro-Mechanical”) and Curtiss-Wright Surface Technologies, LLC, a Delaware limited liability
company (together with its successors and assigns, “C-W Surface” and together with the Company, C-W Controls,
Metal, C-W Flow, C-W Electro-Mechanical and C-W Flow Control Service, individually, an “Issuer” and collectively,
the “Issuers”), and the purchasers listed on Schedule A attached thereto (the “Purchasers”,
and together with their successors and assigns including, without limitation, future holders of the Notes (defined below), herein
collectively referred to as the “Noteholders”), pursuant to which the Issuers sold, and the Purchasers bought
the Issuers’ joint and several (a) $150,000,000 aggregate principal amount of their 3.10% Series J Senior Guaranteed Notes
due August 13, 2030 (including any amendments, restatements or modifications from time to time, the “Series J Notes”)
and (b) $150,000,000 aggregate principal amount of their 3.20% Series K Senior Guaranteed Notes due August 13, 2032 (including
any amendments, restatements or modifications from time to time, the “Series K Notes”, and together with the
Series J Notes, collectively, the “Notes”); and

 

(b) that certain
Subsidiary Guarantee Agreement (as amended from time to time, the “Subsidiary Guarantee”) in the form attached to the
Note Purchase Agreement as Exhibit 1.2, executed and delivered by one or more Persons on August 13, 2020 and identified on Part
A of Annex 1 attached hereto[, as amended and supplemented by [each/that certain] Subsidiary Guarantor Accession Agreement identified
on Part B of Annex 1 attached hereto].

    	1

    	

    

Capitalized terms used herein and not otherwise
defined herein have the meanings specified in the Note Purchase Agreement and the Subsidiary Guarantee, as applicable.

 

	1.	ACCESSION OF ADDITIONAL SUBSIDIARY.

 

In accordance with the terms
of Section 9.6 of the Note Purchase Agreement, [Insert Name of Additional Subsidiary Guarantor], a [___________] [corporation][limited
liability company] (the “Additional Subsidiary Guarantor”), by the execution and delivery of this Subsidiary
Guarantor Accession Agreement, does hereby agree to become, and does hereby become, (a) a party to the Subsidiary Guarantee and
(b) bound by the terms and conditions of the Subsidiary Guarantee, including, without limitation, becoming jointly and severally
liable with the other Subsidiary Guarantors for the Guarantied Obligations (as defined in the Subsidiary Guarantee) and for the
due and punctual performance and observance of all the covenants in the Notes and the Note Purchase Agreement to be performed or
observed by the Issuers, all as more particularly provided for in Section 2 of the Subsidiary Guarantee. The Subsidiary Guarantee
is hereby, without any further action, amended to add the Additional Subsidiary Guarantor as a “Subsidiary Guarantor”
and signatory to the Subsidiary Guarantee.

 

	2.	REPRESENTATIONS AND WARRANTIES OF THE ADDITIONAL SUBSIDIARY GUARANTOR.

 

The Additional Subsidiary
Guarantor hereby makes, as of the date hereof and only as to itself in its capacity as a Subsidiary Guarantor under the Subsidiary
Guarantee and/or as a Subsidiary, each of the representations and warranties set forth in Section 5 to the Note Purchase Agreement
that are applicable to a Subsidiary and each of the representations and warranties set forth in Section 3 of the Subsidiary Guarantee
made by each Subsidiary Guarantor.

 

	3.	DELIVERIES BY ADDITIONAL SUBSIDIARY GUARANTOR.

 

The Additional Subsidiary
Guarantor hereby delivers to each of the Noteholders, contemporaneously with the delivery of this Subsidiary Guarantor Accession
Agreement, each of the documents and certificates set forth on Annex 2 hereto.

 

	4.	MISCELLANEOUS.

 

	 	4.1.	Effective Date.

 

This Subsidiary Guarantor
Accession Agreement shall become effective on the date on which this agreement and each of the documents or certificates set forth
on Annex 2 are sent to the Noteholders at the addresses and by a means stipulated in Section 18 of the Note Purchase Agreement.

 

	 	4.2.	Expenses.

 

The Additional Subsidiary
Guarantor agrees that it will pay, on the date this Subsidiary Guarantee Accession Agreement becomes effective, the statement for
the reasonable fees and the disbursements of a single special counsel of the Noteholders presented on or prior to such date.

    	2

    	

    

	 	4.3.	Section Headings, etc.

 

The titles of the Sections
appear as a matter of convenience only, do not constitute a part hereof and shall not affect the construction hereof. The words
“herein,” “hereof,” “hereunder” and “hereto” refer to this Subsidiary Guarantor
Accession Agreement as a whole and not to any particular Section or other subdivision.

 

	 	4.4	Governing Law.

 

THIS SUBSIDIARY GUARANTOR
ACCESSION AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND THE RIGHTS OF THE PARTIES SHALL BE GOVERNED BY, THE
LAW OF THE STATE OF NEW YORK EXCLUDING CHOICE-OF-LAW PRINCIPLES OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF
THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

 

	 	4.5.	Successors and Assigns.

 

This Subsidiary Guarantor
Accession Agreement shall inure to the benefit of and be binding upon the successors and assigns of the Additional Subsidiary Guarantor.

 

	 	4.6	Communications.

 

The address for notices
and other communications to be delivered to the Additional Subsidiary Guarantor pursuant to Section 15 of the Subsidiary Guarantee
is set forth below the signature of such Additional Subsidiary Guarantor.

 

[Remainder of page intentionally blank;
next page is signature page]

    	3

    	

    

IN WITNESS WHEREOF, the
Additional Subsidiary Guarantor has caused this Subsidiary Guarantor Accession Agreement to be executed on its behalf by a duly
authorized officer or agent thereof as of the date first above written.

 

	 	 	Very truly yours,
	 	 	 
	 	 	Additional Subsidiary Guarantor:
	 	 	 
	 	 	[NAME OF ADDITIONAL SUBSIDIARY GUARANTOR]
	 	 	 
	 	 	By	                  
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 	Notice Address for the Additional Subsidiary Guarantor:
	 	 	 
	 	 	
	 	 	 

    	4

    	

    

Annex 1

Existing Subsidiary Guarantor Accession Agreements
and Guarantees

 

Part A-Existing Subsidiary Guarantees:

 

[To be Completed]

 

Part B- Existing Subsidiary Guarantor Accession
Agreements:

 

[To be Completed]

    	5

    	

     Annex 2

Additional Documents and Instruments

 

(a) A certified copy of
the resolutions of the board of directors (or similar governing body) of the Additional Subsidiary Guarantor approving the execution
and delivery of this Subsidiary Guarantor Accession Agreement and the accession of the Additional Subsidiary Guarantor to the Subsidiary
Guarantee and the performance of its obligations thereunder and authorizing the person or persons signing this Subsidiary Guarantor
Accession Agreement and any other documents to be delivered pursuant hereto to sign the same on behalf of the Additional Subsidiary
Guarantor.

 

(b) Authenticated signatures
of the person or persons specified in the board resolutions referred to in clause (a) above.

 

(c) The articles of incorporation
or other organic formation documents of the Additional Subsidiary Guarantor, certified as being up to date by the secretary of
the Additional Subsidiary Guarantor (including, if relevant, copies of all amending resolutions or other amendments).

 

(d) An opinion or opinions
of counsel (which, for the avoidance of doubt, may be from one or more Associate General Counsel to the Company) in form and substance
reasonably satisfactory to the Required Holders, confirming that (i) such Additional Subsidiary Guarantor’s obligations hereunder
and under the Subsidiary Guarantee are legal, valid, binding and enforceable against such Additional Subsidiary Guarantor (except
as such enforceability may be limited by (A) bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting
the enforcement of creditors’ rights generally and (B) general principles of equity), (ii) the execution, delivery and performance
of this Subsidiary Guarantor Accession Agreement will not violate any law in the jurisdiction of incorporation and (iii) no government
approvals, consents, registrations or filings are required in the jurisdiction of incorporation by such Additional Subsidiary Guarantor
in connection with the execution, delivery and performance of its obligations hereunder and under the Subsidiary Guarantee, provided
that such opinion or opinions shall be subject to customary exceptions and qualifications.

    	6

    	

    

EXHIBIT 4.4(a)(i)

 

FORM OF OPINION OF

GENERAL COUNSEL TO THE COMPANY

 

Exhibit 4.4(a)(i)-1

    	 

    	

    

August 7, 2020

 

To Each of the Purchasers Listed

on Annex 1 attached hereto

 

Ladies and Gentlemen:

 

I am the General Counsel of Curtiss-Wright Corporation,
a Delaware corporation (“Curtiss-Wright”) and, in such capacity, I am delivering this opinion to the purchasers in
connection with Note Purchase Agreement dated as of August 13, 2020 (the “Note Purchase Agreement”) among the Issuers
and the purchasers listed in Schedule A attached thereto (collectively, the “Purchasers”). The Note Purchase Agreement,
the Notes and the Subsidiary Guarantee are collectively referred to herein as the “Transaction Documents”. Capitalized
terms not otherwise defined herein shall have the meanings ascribed to such terms in the Note Purchase Agreement.

 

In rendering this opinion, I have examined originals
or copies, certified or otherwise identified to my satisfaction, of such documents, corporate records, certificates of public officials
and of officers of the Issuers and the Subsidiary Guarantors (collectively, the “Issuing Entities”) and other instruments
and have conducted such other investigations of fact and law as I have deemed necessary or advisable for purposes of this opinion.
I have examined, among other documents, the following documents:

 

(i) the Certificates of Incorporation and Bylaws of Curtiss-Wright
, Curtiss-Wright Controls, Inc., a Delaware corporation, Curtiss-Wright Flow Control Corporation, a New York corporation, and Curtiss-Wright
Electro-Mechanical Corporation, a Delaware corporation;

 

(ii) the Certificates of Formation and Operating Agreements
for Curtiss-Wright Flow Control Service, LLC, a Delaware limited liability company, Metal Improvement Company, LLC, a Delaware
limited liability company and Curtiss-Wright Surface Technologies, LLC, a Delaware limited liability company;

 

(iii) the Certificates of Incorporation and Bylaws of Williams
Controls Industries, Inc., a Delaware corporation, and DY 4, Inc., a Delaware corporation;

 

(iv) certificates dated no earlier than August 6, 2020
of the Secretaries of State of Delaware, and New York certifying as to the good standing of each of the Issuing Entities in their
respective jurisdictions of organization; and

    	 

    	

    

(v) counterparts executed by the Issuing Entities of each
of the Transaction Documents to which such Issuing Entities are parties.

 

With your permission, I have assumed without
any independent investigation (a) with respect to my opinion in paragraph 3, that each party to the Transaction Documents (other
than the Issuing Entities) (i) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation or organization; (ii) is duly authorized to execute and deliver the Transaction Documents and to consummate the transactions
contemplated by such Transaction Documents; and (iii) has the full power and authority to enter into the same for the purposes
set forth therein; (b) that the Transaction Documents have been duly executed and delivered by each of the parties thereto (other
than the Issuing Entities), are in full force and effect with respect to such parties and are the legal, valid and binding obligations
of such parties, enforceable against such parties (other than the Issuing Entities) in accordance with the terms thereof; and (c)
in respect of all documents and instruments which were submitted to me, the capacity of natural persons, the genuineness of all
signatures (other than those of representatives of the Issuing Entities on documents on which an opinion is expressed herein),
the authenticity of all documents and instruments submitted to me as originals, the conformity to the originals of all documents
and instruments submitted to me as copies and the execution of all documents and instruments in the form of such documents and
instruments submitted to me in execution form. As to matters of fact relevant to the opinions herein, I have relied upon the statements,
representations and warranties set forth in the Transaction Documents.

 

Upon the basis of and subject to the foregoing,
and subject to the exceptions, limitations, assumptions and qualifications set forth below, I am of the opinion that:

 

1. Each Issuing Entity is either a corporation
or limited liability company duly organized, existing and in good standing under the laws of its state of incorporation or organization,
as the case may be, has the corporate or limited liability company power and authority to enter into, deliver and perform under
and pursuant to the Transaction Documents to which it is a party, to own its property and to carry on its business as it is now
conducted, and is duly qualified to do business in each jurisdiction where the character of the property owned by it therein or
in which the transaction of its business makes such qualification necessary, except where the failure to so qualify would not have
a Material Adverse Effect.

 

2. The execution, delivery and performance by
each Issuing Entity of the Transaction Documents to which it is a party has been duly authorized by all necessary corporate or
limited liability company, as the case may be, action.

 

3. The Transaction Documents to which each Issuing
Entity is a party have been duly and validly executed and delivered by each Issuing Entity and constitute valid, legal and binding
obligations of each Issuing Entity enforceable in accordance with their respective terms.

 

4. The execution and delivery of the Transaction
Documents by each Issuing Entity, the consummation of the transactions therein contemplated, and compliance with the terms and
provisions thereof (a) will not conflict with or result in any breach of the terms and conditions of the Certificate of Incorporation
or Bylaws or the Certificate of Formation or Operating Agreement of any such Issuing Entity, as applicable, or of any law or regulation,
and (b) to the

 

2

    	 

    	

    

best of my knowledge, after due inquiry, will not conflict with
or result in any breach of the terms and conditions of any order, writ, injunction or decree of any court or Governmental Authority
or of any agreement or instrument to which such Issuing Entity is bound or to which such Issuing Entity is subject, or constitute
a default thereunder.

 

5. With respect to each Issuing Entity, all consents
required to issue and sell the Notes and to execute and deliver the Transaction Documents to which it is a party have been obtained.

 

The foregoing opinions are subject to the following
exceptions, limitations, assumptions and qualifications:

 

A. My opinion in paragraph 3 is subject to the
effect of bankruptcy, insolvency, fraudulent conveyance and transfer and other laws of general application relating to or affecting
the enforcement of creditors rights and of general principles of equity, judicial discretion and general requirements of good faith,
fair dealing and commercial reasonableness (regardless of whether relief is sought in an action at law or in equity).

 

B. My opinion in paragraph 3 is further subject
to public policy considerations, which may limit the rights of the Purchasers to obtain certain remedies and to indemnifications,
but should not make the remedies provided in the Transaction Documents inadequate for the practical realization of the benefits
intended thereby. I render no opinion as to the enforceability of (i) any rights of set-off contained in any of the Transaction
Documents, (ii) any waivers or consents under any of the Transaction Documents relating to the rights of any of the Issuing Entities,
or any duties owing to any of them, existing as a matter of law, except to the extent that such Issuing Entity may so waive or
consent as a matter of law, or (iii) the choice of forum or severability provisions set forth in the Transaction Documents.

 

C. I am qualified to practice law only in the
States of New Jersey and Pennsylvania and I express no opinions as to the laws of any jurisdictions other than the laws of the
States of New Jersey and Pennsylvania and, to the extent applicable, the General Corporation Law of the State of Delaware (“DGCL”)
and the Delaware Limited Liability Company Act (“DLLCA”) . Furthermore, my knowledge with respect to the DGCL and the
DLLCA is derived solely from a reading of those statutes as currently in effect and publicly available to me in published form
without consideration or review of any judicial or other interpretations thereof, and without consulting local counsel in respect
thereof. In addition, I have made no inquiry into, and express no opinion with respect to, any state or foreign securities or “blue
sky” laws, rules or regulations, or any orders, decrees, laws, ordinances, treaties, rules, regulations or any common law
of any federal, state, provincial, territorial, municipal or any other domestic, foreign or multi-national jurisdiction (collectively,
“Legal Requirements”) applicable to tax, antitrust, land use or title, safety, employee pensions and benefits, environmental,
hazardous material or hazardous activities, patent, copyright, trademark, trade secret or trade name matters, or which may be applicable
to the subject transactions because of the nature or extent of the business conducted or the assets owned by any parties to the
Transaction Documents, or the effect on the transactions contemplated by the Transaction Documents of noncompliance under any such
applicable Legal Requirements. I further disclaim any opinion as to any Legal Requirements or other promulgation of any state,-
regional, local, foreign or multi-national Governmental Authority or

 

3

    	 

    	

    

as to any related state, regional, local foreign or multi-national
judicial or administrative opinion interpreting or enforcing any such Legal Requirement or other such promulgation.

 

D. These opinions are furnished solely for your
benefit in connection with the transactions contemplated by the Transaction Documents. I agree that the Purchasers may rely and
are relying hereon in connection with the consummation of the transactions contemplated by the Transaction Documents. Morgan, Lewis &
Bockius LLP, special counsel to the Purchasers, may rely on this opinion for the sole purpose of rendering its opinion to be rendered
pursuant to Section 4.4(b) of the Note Purchase Agreement. In addition, each of the Purchasers may furnish copies hereof (a) to
its independent auditors and attorneys, (b) to any state or federal authority having regulatory jurisdiction over it including,
without limitation, the National Association of Insurance Commissioners (NAIC), (c) pursuant to an order or legal process of any
court or governmental agency, and (d) to subsequent holders of the Notes that comply with the provisions of Section 13.2 of the
Note Purchase Agreement and may not be filed with or furnished to any other Governmental Authority or other Person, without the
prior written consent of the undersigned. Subsequent holders of the Notes may rely on this opinion as if it were specifically addressed
to them. These opinions are limited to the matters set forth herein, and no opinion may be inferred or implied beyond the matters
expressly stated in this letter. These opinions are furnished as of the date hereof, and I expressly disclaim any obligation to
advise you or any other party of changes of law or fact that occur after the date hereof even though such change may affect the
legal analysis, a legal conclusion or a factual confirmation herein.

 

	 	Very truly yours,
	 	 
	 	
	 	 
	 	Paul J. Ferdenzi 

 

4

    	 

    	

    

EXHIBIT 4.4(a)(ii)

 

FORM OF OPINION OF

ASSOCIATE GENERAL COUNSEL TO THE COMPANY

 

Exhibit 4.4(a)(ii)-1

    	 

    	

    

		
        George P.
        McDonald

        Associate
        General Counsel

        400 Interpace Parkway, Suite D0110

        Parsippany, NJ 07054

        T: 973-541-3753  F: 973-541-3699

        gmcdonald@curtisswright.com

 

August 7, 2020

 

To Each of the Purchasers

Listed on Annex 1 attached

hereto

 

Ladies and Gentlemen:

 

I am the Associate General Counsel of Curtiss-Wright Corporation,
a Delaware corporation (“Curtiss-Wright”) and, in such capacity, I am delivering this opinion to the purchasers
in connection with Note Purchase Agreement dated as of August 13, 2020 (the “Note Purchase Agreement”) among
Curtiss-Wright, Curtiss-Wright Controls, Inc., a Delaware corporation (“C-W Controls”), Curtiss-Wright Electro-Mechanical
Corporation, a Delaware corporation (“C-W Electro-Mechanical”), Metal Improvement Company, LLC, a Delaware
limited liability company (“Metal”), Curtiss-Wright Flow Control Corporation, a New York corporation ( “C-W
Flow”), Curtiss-Wright Flow Control Service, LLC, a Delaware limited liability company (“C-W Flow Control
Service”) and Curtiss-Wright Surface Technologies, LLC, a Delaware limited liability company ( “C-W Surface
Technologies” and together with the Company, C-W Controls, Metal, C-W Flow and C-W Flow Control Service, individually,
an “Issuer” and collectively, the “Issuers”) and the purchasers listed on Schedule A attached
thereto (collectively, the “Purchasers”) and Williams Controls Industries, Inc., a Delaware corporation (“Williams”),
DY 4, Inc., a Delaware corporation (“DY4” and together with Williams, individually, a “Subsidiary
Guarantor” and collectively, the “Subsidiary Guarantors”) in connection with (A) the negotiation,
preparation, execution and delivery of (i) the Note Purchase Agreement, and (ii) the Subsidiary Guarantee dated as August 13,
2020 executed by the Subsidiary Guarantors (the “Subsidiary Guarantee”) and (B) the negotiation, execution
and delivery of the Issuers’ joint and several Notes (collectively, the “Notes”) to the Purchasers pursuant
to the Note Purchase Agreement in transactions intended to qualify for an exemption from registration under the Securities Act
of 1933, as amended (the “Securities Act”). The Note Purchase Agreement, the Notes and the Subsidiary Guarantee
are collectively referred to herein as the “Transaction Agreements”. Capitalized terms not otherwise defined
herein shall have the meanings ascribed thereto in the Note Purchase Agreement. This opinion is being furnished to you pursuant
to Section 4.4(a) of the Note Purchase Agreement.

 

In rendering the opinions expressed below, I have examined and relied
upon the original, conformed, facsimile or photostatic or other reproduction documents, including, without limitation, documents
furnished to me electronically in portable document format (i.e., pdf copies) or copies certified to my satisfaction, of (i) the
Transaction Agreements, (ii) the respective certificates of incorporation and bylaws of the Issuers (other than C-W Flow Control
Service, Metal and C-W Surface Technologies) and the Subsidiary Guarantors (each as amended to the date hereof), (iii) the respective
Certificates of Formation and Operating Agreements of C-W Flow Control Service, Metal and C-W Surface Technologies, (iv) minutes
and records of the corporate and limited liability company proceedings, as appropriate, of the Issuers and the Subsidiary Guarantors,
(v)

    	 

    	

    

documents and certificates of public officials, (vi) certificates
of officers of the Issuers and the Subsidiary Guarantors, (vii) the offeree letter delivered by BofA Securities, Inc. and J.P.
Morgan Securities LLC pursuant to Section 4.13 of the Note Purchase Agreement dated August 13, 2020 (the “Offeree Letter”),
(viii) the opinion letter of Paul Ferdenzi, Esq. Associate General Counsel of the Issuers and the Subsidiary Guarantors delivered
pursuant to Section 4.4(a) of the Note Purchase Agreement dated August 13, 2020 (the “Ferdenzi Opinion”) (other
than with respect to those opinions relating to the laws of the State of New York and/or the State of Delaware) and (ix) such other
instruments and documents as I have deemed necessary as a basis for expressing the opinions hereinafter set forth and as have been
furnished to me by the Issuers and the Subsidiary Guarantors.

 

As such counsel, I have made such legal and factual examinations
and inquiries as I have deemed advisable or necessary for the purposes of rendering this opinion. In addition, I have examined
originals or copies of documents, corporate records and other writings that I consider relevant for the purposes of this opinion.
In such examination, I have assumed the completeness of all documents submitted to me as original, certified, conformed, facsimile
or reproduction documents, including, without limitation, documents furnished to me electronically in portable document format
(i.e., pdf copies) and the conformity to original documents of all documents submitted to me as certified, conformed, facsimile
or reproduction copies or forms of original documents, the authenticity of the originals of such documents and the execution of
all documents and instruments in the form of such documents submitted to me in execution form. I have also assumed the genuineness
of all signatures, the legal capacity for all purposes relevant hereto of all natural persons and, with respect to all parties
to agreements or instruments relevant hereto other than the Issuers and the Subsidiary Guarantors, that such parties are each corporations
or legal entities, duly organized, validly existing and in good standing under the laws of their respective jurisdictions of incorporation
or formation, have the requisite power and authority (corporate or otherwise) to execute, deliver and perform such agreements or
instruments, that such agreements or instruments have been duly authorized by all requisite action (corporate or otherwise), executed
and delivered by such parties, the authority of all signatories to sign on behalf of their principals, if any, and that such agreements
or instruments are the legal, valid, binding and enforceable obligations of such parties. As to questions of fact material to my
opinions, I have relied upon the representations and warranties made in or pursuant to the Note Purchase Agreement, the Subsidiary
Guarantee, the Offeree Letter and upon certificates of officers of the Issuers and the Subsidiary Guarantors and of public officials.

 

Except to the extent expressly set forth herein, I have not undertaken
any independent investigation to determine the existence or absence of any fact, or reviewed any agreements or other documents
to which any of the Issuers or the Subsidiary Guarantors is a party or by which any of them or their assets are bound or affected
(including, without limitation, any offering document, filings with the United States Securities and Exchange Commission or financial
statements, including any notes thereto), other than the Transaction Agreements and no inference as to my knowledge of the existence
or absence of any fact should be drawn from my representation of the Issuers or the Subsidiary Guarantors or the rendering of
the opinions set forth below. I have not undertaken, nor am I in a position to undertake, any independent investigation to verify:
the accuracy and completeness of the information, representations and warranties contained in any of the Transaction Agreements,
the Memorandum or in any other information furnished to any prospective purchaser of the Notes or of any interest therein, the
qualifications or accredited investor status of any Purchaser, or the

 

    	 

    	

    

compliance with the covenants and undertakings by any of the parties
to any of the Transaction Agreements.

 

The opinions hereinafter expressed are subject
to the following qualifications:

 

A. My opinion in paragraph 3 with respect to the enforceability
of the Transaction Agreements is subject to:

 

a) the effect of bankruptcy, insolvency, reorganization,
fraudulent conveyance or transfer, moratorium or other similar laws relating to or affecting the rights and remedies of creditors
(and by the possible judicial application of laws or governmental action affecting the rights of creditors generally);

 

b) the effect of general principles of equity, regardless
of whether enforcement is considered in a proceeding in equity or at law (including the possible unavailability of specific performance,
injunctive relief or any other equitable remedy), concepts of materiality, reasonableness, good faith and fair dealing, and the
discretion of the court before which any proceeding therefor may be brought; and

 

c) the possible limitation that provisions providing for
the indemnification of or contribution to a party with respect to a liability may be limited by (i) laws rendering unenforceable
indemnification or contribution contrary to United States federal or state securities laws and the public policy underlying such
laws and (ii) laws limiting the enforceability of provisions exculpating or exempting a party from, or requiring indemnification
of or contribution to a party for, its own action or inaction, to the extent such action or inaction involves gross negligence,
recklessness or willful or unlawful conduct.

 

B. I express no opinion as to compliance with the anti-fraud
provisions of state, federal and foreign laws, rules and regulations in connection with the offer and sale of the Notes.

 

C. I am a member of the Bar of the State of New York and
I am not expressing any opinion as to any matter relating to laws of any jurisdiction other than the federal laws of the United
States of America, the laws of the State of New York, the Delaware General Corporation Law (“DGCL”) and the Delaware
Limited Liability Company Act (“DLLCA”). Furthermore, my knowledge with respect to the DGCL and the DLLCA is derived
solely from a reading of those statutes as currently in effect and publicly available to me in published form without consideration
or review of any judicial or other interpretations thereof. In addition, I have made no inquiry into, and express no opinion with
respect to, any United States state or any foreign securities or “blue sky” laws, rules or regulations, or any orders,
decrees, laws, ordinances, treaties, rules, regulations or any common law of any federal, state, provincial, territorial, municipal
or any other domestic, foreign or multi-national jurisdiction (collectively, “Legal Requirements”) applicable
to tax, antitrust, land use or title, safety, employee pensions and benefits, environmental, hazardous material or hazardous activities,
patent, copyright, trademark, trade secret or trade name matters, or

 

    	 

    	

    

which may be applicable to the subject transactions because
of the nature or extent of the business conducted or the assets owned by any parties to the Transaction Agreements, or the effect
on the transactions contemplated by the Transaction Agreements of noncompliance under any such applicable Legal Requirements. I
further disclaim any opinion as to any Legal Requirement or other promulgation of any domestic, foreign or multi-national Governmental
Authority or as to any related domestic, foreign or multi-national judicial or administrative opinion interpreting or enforcing
any such Legal Requirement or other such promulgation. I call to your attention that I am not licensed to practice in the State
of Delaware.

 

D. My opinions set forth in paragraphs 1 and 2 below as
to the legal existence and good standing of each of the Issuers and the Subsidiary Guarantors in their respective States of incorporation
or formation is based solely on certificates from the Secretary of State of such States.

 

E. My opinions relate solely to the express provisions
of the Transaction Agreements and I express no opinion as to any other oral or written agreements or understandings between
the Issuers and the Subsidiary Guarantors and any of the other parties thereto.

 

F. Provisions of the Transaction Agreements requiring
that waivers must be in writing may not be binding or enforceable if a non-executory oral agreement has been created modifying
any such provision or an implied agreement by trade practice or course of conduct has given rise to a waiver.

 

G. I have made no examination and express no opinion whatsoever
as to the accuracy or completeness of any Schedules to the Note Purchase Agreement.

 

H. I express no opinion as to the enforceability of any
provisions of any of the Transaction Agreements relating to the waiver by the Issuers or the Subsidiary Guarantors of claims, defenses,
rights granted by law, notice, opportunity for hearing, evidentiary requirements, statutes of limitation, or procedural rights;

 

I. I have assumed that each of the Purchasers will comply
in all material respects with all agreements and Legal Requirements applicable to each of them in respect of the Transaction Agreements
and the transactions contemplated thereby.

 

J. I have assumed that all consents required to issue and
sell the Notes and to execute, deliver and perform the Transaction Agreements (other than those required under United States federal
law or the laws of the States of New York or Delaware (subject to the qualification set forth in paragraph K with respect to the
registration or qualification of the Notes, the Subsidiary Guarantee or of any interests therein under the state securities or
“blue sky” laws of such jurisdictions as to which I do not render any opinion hereunder)) have been obtained by each
Issuer and each Subsidiary Guarantor party thereto and that the execution, delivery or performance of the Transaction Agreements
will not conflict with or result in any breach of the terms and conditions of any agreement or order, judgment, writ, injunction
or decree of any court or Governmental Authority.

 

    	 

    	

    

K. My opinion in paragraph 3 does not relate to the registration
requirements under the Securities Act or any securities laws of any other jurisdiction, which opinion is set forth in paragraph
5. My opinion in paragraph 5 relates only to the registration requirements of the Securities Act and the qualification requirements
of the Trust Indenture Act of 1939, as amended (“Trust Indenture Act”), as they relate to the offer and sale of
the Notes in the United States of America. I have not considered any other Legal Requirements in rendering such opinion. In particular,
I express no opinion with respect to: the registration or qualification of the Notes, the Subsidiary Guarantee or of any interests
therein under any United States state securities or “blue sky” laws or under the laws of any other jurisdiction; the
circumstances under which the Notes or any interest therein can be sold in any other jurisdiction or can be resold in the United
States or elsewhere or to U.S. persons (as defined in Regulation S promulgated under the Securities Act); the sufficiency, adequacy,
completeness or accuracy of the disclosures contained in any of the Transaction Agreements, the Memorandum or any other offering
materials or in any other information furnished to any prospective purchaser of the Notes (including, without limitation, any filings
by any of the Issuers with the United States Securities and Exchange Commission); or the antifraud provisions of the Securities
Act or any such other securities laws and the rules and regulations promulgated thereunder. I express no opinion on compliance
with federal, state or foreign requirements for the registration of broker-dealers or the effect that non-compliance therewith
may have on the offer and sale of the Notes or any interest therein.

 

L. In rendering my opinion in paragraph
5, I have further assumed that the offer and sale of the Notes or of any interest therein by the Issuers and each Person authorized
to offer the Notes or of any interest therein on behalf of the Issuers has been made solely in the United States to accredited
investors as such term is defined in Rule 501(a) of Regulation D promulgated under the Securities Act, in compliance with all applicable
state securities or “blue sky” laws and the applicable securities laws of all other jurisdictions and did not involve
any “general solicitation” as defined in Regulation D; and that none of the Issuers, Subsidiary Guarantors nor any holder
of the Notes shall after the Closing take or omit to take any action that shall adversely affect the availability of any exemption
from registration of the Notes and the Subsidiary Guarantee and of any interest therein, under any applicable securities laws,
and in particular, that the Issuers shall not offer and sell any securities, which offer and sale, when integrated with the offer
and sale of the Notes and of any interest therein, could be deemed to convert the offer and sale of the Notes and of any interest
therein into a public offering of securities requiring registration under Section 5 of the Securities Act.

 

M. I express no opinion regarding the
enforceability of provisions in the Transaction Agreements to the effect that a guarantor is liable (i) even in the event a court
finds that provisions of the Guarantied Obligations (as defined in the Subsidiary Guarantee) have been materially modified or
(ii) as a primary obligor, and not as a surety.

 

The opinions expressed below are further qualified insofar
as those opinions are subject to the effect of generally applicable rules of law that:

 

I. limit or affect the enforcement of provisions of a contract
that purport to require waiver

 

    	 

    	

    

of the obligations of good faith, fair dealing, diligence
and reasonableness or purport to release, exculpate or exempt a party from, or require indemnification of a party for, liability
for its own action or inaction, to the extent the action or inaction involves gross negligence, recklessness, willful misconduct
or unlawful conduct;

 

II. (i) provide that forum selection clauses in contracts
are not necessarily binding on courts and (ii) relate to the discretion of the court before which any proceeding therefor may be
brought, including, without limitation, the recognition of the choice of law provisions in the Transaction Agreements by a court
sitting outside the State of New York;

 

III. limit the availability of a remedy under certain circumstances
where another remedy has been elected or when the entire controversy doctrine is applicable to the claim for which a remedy is
sought;

 

IV. may, where less than all of a contract may be unenforceable,
limit the enforceability of the balance of the contract to circumstances in which the unenforceable portion is an essential part
of the agreed exchange;

 

V. govern and afford judicial discretion regarding the
determination of damages and entitlement to the rights of set-off, indemnification and contribution, liquidated damages, default
interest, late charges, monetary penalties, prepayment or make whole premiums or payments, the payment of attorneys’ fees and other
costs of collection or other economic remedies; or

 

VI. may permit a party who has materially failed to render
or offer performance required by the contract to cure that failure unless (i) permitting a cure would unreasonably hinder the aggrieved
party from making substitute arrangements for performance, or (ii) it was important in the circumstances to the aggrieved party
that performance occur by the date stated in the contract.

 

Based upon and subject to the foregoing, I am of the opinion
that:

 

1. The Company, C-W Controls, C-W Flow and C-W Electro-Mechanical
are corporations duly incorporated and C-W Flow Control Service, Metal and C-W Surface Technologies are limited liability companies
duly formed, and each is validly existing and in good standing under the laws of its respective State of incorporation or formation,
with all requisite legal power and authority to issue and sell the Notes and to execute and deliver the Note Purchase Agreement
and the Notes and to perform its obligations in connection therewith.

 

2. DY4 and Williams are corporations duly incorporated,
validly existing and in good standing under the laws of the State of Delaware with all requisite corporate power and authority
to execute and deliver the Subsidiary Guarantee and to perform their obligations in connection therewith.

 

    	 

    	

    

3. The Transaction Agreements have each been duly and validly
authorized, executed and delivered by each Issuer and each Subsidiary Guarantor party thereto and constitute the legal, valid and
binding obligations of such Issuers and such Subsidiary Guarantors, enforceable in accordance with their respective terms.

 

4. Neither the execution and delivery of, nor compliance
with the terms of, the Transaction Agreements by any of the Issuers or the Subsidiary Guarantors party thereto, will conflict with,
result in a breach of, or constitute a default under or violate (i) the organizational documents or any resolution of the respective
boards of directors or managers of any of the Issuers or the Subsidiary Guarantors or (ii) any federal or New York statute or law
or any rule or regulation issued pursuant to any federal or New York statute or law. The foregoing clause (ii) is limited with
regard to statute, law, rule or regulation to such statute, law, rule or regulation that in my experience is typically applicable
to transactions of the nature contemplated by the Transaction Agreements or generally applicable to companies engaged in the same
line of business as the Issuers and the Subsidiary Guarantors.

 

5. No registration of the Notes or the Subsidiary Guarantee
under the Securities Act, and no qualification of an indenture under the Trust Indenture Act with respect thereto, is required
for the offer and sale of the Notes by the Issuers in the manner contemplated by the Note Purchase Agreement or the execution and
delivery of the Subsidiary Guarantee by the Subsidiary Guarantors.

 

6. The extension of credit under the Notes does not violate
Regulations T, U, or X of the Board of Governors of the Federal Reserve System.

 

7. No Issuer or any Subsidiary Guarantor is an “investment
company” or a company “controlled” by an “Investment Company” within the meaning of the Investment Company
Act of 1940, as amended.

 

8. No Issuer or any Subsidiary Guarantor is a “holding
company” subject to regulation under the Public Utility Holding Company Act of 2005, as amended.

 

I acknowledge that this opinion is being issued pursuant to Section
4.4(a) of the Note Purchase Agreement and I agree that the Purchasers may rely and are relying hereon in connection with the consummation
of the transactions contemplated by the Transaction Agreements. Morgan, Lewis & Bockius LLP, special counsel to the Purchasers,
may rely on this opinion for the sole purpose of rendering its opinion to be rendered pursuant to Section 4.4(b) of the Note Purchase
Agreement. In addition, each Purchaser may furnish copies hereof (a) to its independent auditors and attorneys, (b) to any state
or federal authority having regulatory jurisdiction over it including, without limitation, the National Association of Insurance
Commissioners (NAIC), (c) pursuant to an order or legal process of any court or governmental agency and (d) to subsequent holders
of the Notes that comply with the provisions of Section 13.2 of the Note Purchase Agreement and this opinion may not be filed with
or furnished to any other Governmental Authority or other Person, without the prior written consent of the undersigned. Subsequent
holders of the Notes may rely on this opinion as if it were specifically addressed to them. These opinions are limited to the matters
set forth herein, and no opinion may be inferred or implied beyond the matters expressly stated in this letter. These

 

    	 

    	

    

opinions are furnished as of the date hereof, and I expressly disclaim
any obligation to advise the Purchasers or any subsequent holders of the Notes or any other party of changes of law or fact that
occur after the date hereof even though such change may affect the legal analysis, a legal conclusion or a factual confirmation
herein.

 

	 	Very truly yours,
	 	 
	 	
	 	 
	 	George P. McDonald

 

    	 

    	

    

EXHIBIT 4.4(b)

 

FORM OF OPINION OF SPECIAL COUNSEL

FOR THE PURCHASERS

 

Exhibit 4.4(b)-1

    	 

    	

    

 

 

August 13, 2020

 

To each of the Persons

listed in Annex 1 hereto

 

	Re:	CURTISS-WRIGHT CORPORATION
	 	CURTISS-WRIGHT CONTROLS, INC.
	 	METAL IMPROVEMENT COMPANY, LLC 
	 	CURTISS-WRIGHT FLOW CONTROL CORPORATION 
	 	CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC 
	 	CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION 
	 	CURTISS-WRIGHT SURFACE TECHNOLOGIES, LLC 
	 	$150,000,000 3.10% Series J Senior Guaranteed Notes due August 13, 2030
	 	$150,000,000 3.20% Series K Senior Guaranteed Notes due August 13, 2032

 

Ladies and Gentlemen:

 

We have acted as special
counsel to each of the Persons named in Annex 1 attached hereto (collectively, the “Purchasers”) in connection
with that certain Note Purchase Agreement, dated August 13, 2020 (the “Note Purchase Agreement”), by and among
CURTISS-WRIGHT CORPORATION, a Delaware corporation (the “Company”), CURTISS-WRIGHT CONTROLS, INC., a
Delaware corporation (“C-W Controls”), METAL IMPROVEMENT COMPANY, LLC, a Delaware limited liability
company (“Metal”), CURTISS-WRIGHT FLOW CONTROL CORPORATION, a New York corporation (“C-W
Flow”), CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC, a Delaware limited liability company (“C-W Flow Control
Service”), CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION, a Delaware corporation (“C-W Electro-Mechanical”)
and CURTISS-WRIGHT SURFACE TECHNOLOGIES, LLC, a Delaware limited liability company (“C-W Surface”
and together with the Company, C-W Controls, Metal, C-W Flow, C-W Flow Control Service and C-W Electro-Mechanical, individually,
an “Issuer” and collectively, the “Issuers”) and each of the purchasers listed in Schedule
A attached thereto. The Note Purchase Agreement provides, among other things, for the issuance and sale by the Issuers, and the
purchase by the Purchasers, of (a) an aggregate principal amount of $150,000,000 of the Issuers’ 3.10% Series J Senior Guaranteed
Notes due August 13, 2030 and (b) an aggregate principal amount of $150,000,000 of the Issuers’ 3.20% Series K Senior Guaranteed
Notes due August 13, 2032. Capitalized terms used herein and not otherwise defined shall have the respective meanings given such
terms in the Note Purchase Agreement.

 

	 	Morgan, Lewis & Bockius llp
	 	 	 	 
	 	One State Street	 	 
	 	Hartford, CT 06103-3178	 	+1.860.240.2700
	 	United States	 	+1.860.240.2701

    	 

    	

    

To each of the Persons

listed in Annex 1 hereto

August 13, 2020

Page 2

 

In connection with this opinion, we have examined
originals or copies of the following documents:

 

	 	(i)	the Note Purchase Agreement;
	 	 	 
	 	(ii)	the Issuers’ 3.10% Series J Senior Guaranteed Notes due August 13, 2030, each dated the date hereof, in the form of Exhibit 1.1(a) attached to the Note Purchase Agreement and in the names, in the principal amounts and with the registration numbers set forth in Schedule A attached to the Note Purchase Agreement (the “Series J Notes”);
	 	 	 
	 	(iii)	the Issuers’ 3.20% Series K Senior Guaranteed Notes due August 13, 2032, each dated the date hereof, in the form of Exhibit 1.1(b) attached to the Note Purchase Agreement and in the names, in the principal amounts and with the registration numbers set forth in Schedule A attached to the Note Purchase Agreement (the “Series K Notes” and, together with the Series J Notes, collectively, the “Notes”);
	 	 	 
	 	(iv)	the Subsidiary Guarantee Agreement, dated August 13, 2020, made by DY 4, INC., a Delaware corporation (“DYB”) and Williams Controls Industries, Inc., a Delaware corporation (“Williams”, together with DY, the “Subsidiary Guarantors”; the Issuers and the Subsidiary Guarantors, collectively, the “Obligors” and each an “Obligor”) in favor of the Purchasers and the other holders from time to time of the Notes (as defined therein) (the “Guaranty Agreement”);
	 	 	 
	 	(v)	an Officer’s Certificate of the Issuers, dated the date hereof, certifying as to the matters set forth therein, delivered pursuant to Section 4.3(a) of the Note Purchase Agreement;
	 	 	 
	 	(vi)	an Officer’s Certificate of the Subsidiary Guarantors, dated the date hereof, certifying as to the matters set forth therein, delivered pursuant to Section 4.3(b) of the Note Purchase Agreement;
	 	 	 
	 	(vii)	a certificate of the Secretary of the Issuers, dated the date hereof, certifying as to copies of each Issuers’ certificate of incorporation, certificate of formation, operating agreement or by-laws, as applicable (the “Issuers’ Governing Documents”) and certain resolutions of the board of directors or managers, as applicable, of each Issuer, delivered pursuant to Section 4.3(c) of the Note Purchase Agreement;
	 	 	 
	 	(viii)	a certificate of the Secretary of the Subsidiary Guarantors, dated the date hereof, certifying as to copies of each Subsidiary Guarantor’s certificate of incorporation and by-laws (the “Subsidiary Guarantors’ Governing Documents”) and certain

    	 

    	

    

To each of the Persons

listed in Annex 1 hereto

August 13, 2020

Page 3

 

	 	 	resolutions of the board of directors of each Subsidiary Guarantor, delivered pursuant to Section 4.3(d) of the Note Purchase Agreement;
	 	 	 
	 	(ix)	the opinion of Paul J. Ferdenzi, general counsel to the Company, dated the date hereof and delivered pursuant to Section 4.4(a) of the Note Purchase Agreement;
	 	 	 
	 	(x)	the opinion of George P. McDonald, associate general counsel to the Company, dated the date hereof and delivered pursuant to Section 4.4(a) of the Note Purchase Agreement;
	 	 	 
	 	(xi)	the letter addressed to Morgan, Lewis & Bockius LLP and the Company from BofA Securities, Inc. and J.P. Morgan Securities LLC, dated the date hereof, describing the manner of the offering of the Notes (the “Offeree Letter”); and
	 	 	 
	 	(xii)	a cross receipt evidencing (A) receipt of funds by the Issuers and (B) receipt of the Notes by the Purchasers (the “Cross Receipt”).

 

The Note Purchase Agreement,
the Notes, and the Guaranty Agreement are sometimes referred to herein, collectively, as the “Transaction Documents.”
This opinion is based entirely on our review of the documents listed in the preceding paragraph and we have made no other documentary
review or investigation for purposes of this opinion. Our opinions are limited to the Transaction Documents and other agreements
specifically identified herein, without regard to any agreement or other document incorporated by reference in, or attached to
a Transaction Document, or otherwise referenced therein. Based on such investigation as we have deemed appropriate the opinions
referred to in clauses (ix) and (x) above are satisfactory in form and scope to us, and we believe you are justified in relying
thereon.

 

As to all matters of fact
(including factual conclusions and characterizations and descriptions of purpose, intention or other state of mind), we have relied,
with your permission, entirely upon (1) the representations and warranties of the Issuers, the Subsidiary Guarantors and the Purchasers
set forth in the Note Purchase Agreement, (2) the correctness of all statements set forth in the certificates described in clauses
(v) through (viii) above, and (3) the Offeree Letter; and we have assumed, without independent inquiry, the accuracy of those representations,
warranties, certificates and Offeree Letter.

 

We have assumed the genuineness
of all signatures, the conformity to the originals of all documents reviewed by us as copies, the authenticity and completeness
of all original documents reviewed by us in original or copy form, the legal competence of each individual executing any document
at the time of execution, and that each Person executing such documents (including, without limitation, the Transaction Documents)
validly exists and is in good standing under the laws of the jurisdiction in which it was organized, had and has the power and
authority to enter into and perform its obligations under the Transaction Documents under its governing organizational documents,
applicable enterprise legislation and other applicable law, and is

    	 

    	

    

To each of the Persons

listed in Annex 1 hereto

August 13, 2020

Page 4

 

qualified to do business and is in good standing
under the laws of each jurisdiction where such qualification is required generally or is necessary in order for such party to enforce
its rights under such documents. We have further assumed that the Transaction Documents and such other documents have been duly
authorized, executed and delivered by each Person executing such documents and, as to Persons other than the Obligors, are binding
upon and enforceable against, such Persons. In addition, we have relied upon the Offeree Letter without independent investigation.

 

For purposes of this opinion,
we have made such examination of law as we have deemed necessary. Except to the extent addressed below in paragraph 5, this opinion
is limited solely to the internal substantive laws of the State of New York as applied by courts located in the State of New York
without regard to choice of law, and the federal laws of the United States of America (in each case, except for federal and state
tax, energy, utilities, national security, national emergency, economic emergency, foreign investment and trade, anti-terrorism,
anti-money laundering laws, derivatives, commodities or antitrust laws, as to which we express no opinion). In any event, this
opinion is limited to the laws, rules and regulations of such jurisdictions as in our experience are normally applicable to transactions
of the type contemplated by the Transaction Documents. We express no opinion as to the laws of any other jurisdiction.

 

Our opinion in paragraph
2(a) below is based solely on a review of the Issuers’ Governing Documents and the Subsidiary Guarantors’ Governing
Documents and we have not made any analysis of the internal substantive law of the jurisdiction of organization of Delaware, including
statutes, rules or regulations or any interpretations thereof by any court, administrative body or other government authority,
and we express no opinion in paragraph 2(a) below as to the internal substantive law of the Obligors’ jurisdiction of organization.

 

We note that the Transaction
Documents contain provisions stating they are to be governed by the laws of the State of New York (each such provision, a “Chosen-Law
Provision”). Except to the extent addressed below in paragraph 5, no opinion is given herein as to any Chosen-Law Provision,
or otherwise as to the choice of law or internal substantive rules of law that any court or other tribunal may apply to the transactions
contemplated by the Transaction Documents. Except as set forth in paragraph 4 below, we express no opinions as to any securities
or “blue sky” laws of any jurisdiction.

 

Our opinion is further subject
to the following exceptions, qualifications, and assumptions, all of which we understand to be acceptable to you:

 

	 	(a)	Except as and to the extent provided in paragraph 2(a) below, we have assumed without any independent investigation (i) that the execution, delivery and performance by each of the parties thereto of the Transaction Documents do not and will not conflict with, or result in a breach of, the terms, conditions or

    	 

    	

    

To each of the Persons

listed in Annex 1 hereto

August 13, 2020

Page 5

 

	 	 	provisions of, or result in a violation of, or constitute a default or require any consent (other than such consents as have been duly obtained) under, any organizational document other than the Governing Documents of the Issuer Parties (including, without limitation, applicable corporate charter documents and by-laws), any order, judgment, arbitration award or stipulation, or any agreement, to which any of such parties is a party or is subject or by which any of the properties or assets of any of such parties is bound, (ii) that the statements regarding delivery and receipt of documents and funds referred to in the Cross Receipt are true and correct, and (iii) that the Transaction Documents are valid and binding obligations of each party thereto to the extent that laws other than those of the State of New York are relevant thereto (other than the laws of the United States of America, but only to the limited extent the same may be applicable to the Obligors and relevant to our opinions expressed below).
	 	 	 
	 	(b)	The enforcement of any obligations of any Person, whether under any of the Transaction Documents or otherwise, may be limited by bankruptcy, insolvency, reorganization, moratorium, marshaling or other laws and rules of law affecting the enforcement generally of creditors’ rights and remedies (including such as may deny giving effect to waivers of debtors’ or guarantors’ rights); and we express no opinion as to the status under any fraudulent conveyance laws or fraudulent transfer laws of any of the obligations of any Person under the Transaction Documents or otherwise.
	 	 	 
	 	(c)	We express no opinion as to the availability of any specific or equitable relief of any kind.
	 	 	 
	 	(d)	The enforcement of the rights of any Purchaser or any holder of a Note may in all cases be subject to an implied duty of good faith and fair dealing and to general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity), and will be subject to a duty to act in a commercially reasonable manner.
	 	 	 
	 	(e)	We express no opinion as to the enforceability of any particular provision of any of the Transaction Documents relating to:

 

(i)        waivers of
rights to object to jurisdiction or venue, or consents to jurisdiction or venue;

 

(ii)       waivers of
rights to (or methods of) service of process, or rights to trial by jury, or other rights or benefits bestowed by operation of
law;

 

(iii)      waivers of
any applicable defenses, setoffs, recoupments, or counterclaims;

    	 

    	

    

To each of the Persons

listed in Annex 1 hereto

August 13, 2020

Page 6

 

	 	 	(iv)      the granting of any power of attorney or of any proxy to any Person;
	 	 	 
	 	 	(v)       exculpation or exoneration clauses, clauses relating to rights of indemnity or contribution, and clauses relating to releases or waivers of unmatured claims or rights;
	 	 	 
	 	 	(vi)      waivers or variations of legal provisions or rights which are not capable of waiver or variation under applicable law; or
	 	 	 
	 	 	(vii)     the imposition or collection of interest on overdue interest or providing for a penalty rate of interest or late charges on overdue or defaulted obligations, or the payment of any premium, liquidated damages, or other amount which may be held by any court to be a “penalty” or a “forfeiture”.
	 	 	 
	 	(f)	We express no opinion as to the effect of suretyship defenses, or defenses in the nature thereof, with respect to the obligations of any guarantor, joint obligor, surety, accommodation party, or other secondary obligor.
	 	 	 
	 	(g)	Our opinions in paragraphs 2(b) and 3 below are based solely on a review of generally applicable laws of the State of New York and the United States of America and not on any search with respect to, or review of, any orders, decrees, judgments or other determinations specifically applicable to the Obligors.
	 	 	 
	 	(h)	We express no opinion as to the effect of events occurring, circumstances arising, or changes of law becoming effective or occurring, after the date hereof on the matters addressed in this opinion letter, and we assume no responsibility to inform you of additional or changed facts, or changes in law, of which we may become aware.
	 	 	 
	 	(i)	We have assumed without any independent investigation that each party to each Transaction Document has agreed that the Transaction Document may be electronically signed, and that any electronic signatures appearing on that Transaction Document are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility.
	 	 	 
	 	(j)	We have assumed that each Purchaser that receives proceeds of the Notes will receive $2,500,000 or more.
	 	 	 
	 	Based on the foregoing, we are of the following opinions:

    	 

    	

    

To each of the Persons

listed in Annex 1 hereto

August 13, 2020

Page 7

 

	1.	Each of the Transaction Documents to which an Obligor is a party constitutes a legal, valid and binding obligation of such Obligor, enforceable against such Obligor in accordance with its respective terms.
	 	 
	2.	(a) The execution and delivery by each Obligor of each Transaction Document to which it is a party and its performance of its obligations thereunder will not constitute a violation of the Issuers’ Governing Documents or the Subsidiary Guarantors’ Governing Documents, as applicable. (b) The execution and delivery by an Obligor of each Transaction Document to which it is a party, the issuance and sale of the Notes by the Issuers, and the performance by each Obligor of its respective obligations under the Transaction Documents to which it is a party will not constitute a violation of any statute, rule or regulation of the State of New York or United States federal law.
	 	 
	3.	No consents, approvals or authorizations of Governmental Authorities of the State of New York or the United States of America are required under the laws of the State of New York or the United States of America, respectively, (a) on behalf of an Obligor in connection with its execution and delivery of any of the Transaction Documents to which it is a party, or (b) on behalf of the Issuers in connection with the offer, issuance, sale, execution and delivery of the Notes by the Issuers, in each case on the date hereof.
	 	 
	4.	Under the circumstances contemplated by the Transaction Documents, it is not necessary in connection with either (a) the offer and sale of the Notes delivered to the Purchasers today or (b) the issuance and delivery by the Subsidiary Guarantors of the Guaranty Agreement, to register the offer and sale to the Purchasers today of the Notes or the Guaranty Agreement under the Securities Act of 1933, as amended, or to qualify an indenture in respect of the issuance of the Notes under the Trust Indenture Act of 1939, as amended.
	 	 
	5.	Each Chosen-Law Provision is enforceable in accordance with New York General Obligations Law section 5-1401, as applied by a New York State court or a federal court sitting in New York and applying New York choice of law principles.

 

This opinion is delivered
solely to the Purchasers and for the benefit of the Purchasers in connection with the Transaction Documents and may not be relied
upon by the Purchasers for any other purpose or relied upon by any other person or entity (other than, but subject to our qualification
in clause (h) above, future holders of the Notes acquired in accordance with the terms of the Transaction Documents) for any reason
without our prior written consent.

 

Very truly yours,

    	 

    	

    

ANNEX 1

 

AIG Asset Management

2929 Allen Parkway, A36-04

Houston, TX 77019-2155

Attn: Private Placements Compliance

 

The Prudential Insurance Company of America

Prudential Private Placement Investors, L.P. 

c/o Prudential Private Capital

1114 Avenue of Americas

30th Floor

New York, NY 10036

 

State Farm Life Insurance Company

State Farm Life and Accident Assurance Company

Investment Dept. E-8

One State Farm Plaza

Bloomington, IL 61710

 

Massachusetts Mutual Life Insurance Company 

C.M. Life Insurance Company 

c/o Barings LLC

300 South Tryon Street – Suite 2500

Charlotte, NC 28202

 

Teachers Insurance and Annuity Association of America 

c/o Nuveen Alternatives Advisors LLC

8500 Andrew Carnegie Blvd

Charlotte, NC 28262

 

SYMETRA INVESTMENT MANAGEMENT COMPANY

308 Farmington Avenue, 3rd Floor

Farmington, CT 06032

Attention: Managing Director, Private Placements

 

The Guardian Life Insurance Company of America

The Guardian Insurance & Annuity Company, Inc.

10 Hudson Yards

New York, NY 10001

Attn: Barry Scheinholtz

Investment Department

 

Annex 1-1

    	 

    	

    

American United Life Insurance Company

Attn: Mike Bullock, Securities Department

One American Square, Suite 1017

Post Office Box 368

Indianapolis, IN 46206

 

United of Omaha Life Insurance Company

4 - Investment Management

3300 Mutual of Omaha Plaza

Omaha, NE 68175-1011

 

SOUTHERN FARM BUREAU LIFE INSURANCE COMPANY

1401 Livingston Lane

Jackson, MS 39213

 

USAA Life Insurance Company

USAA Life Insurance Company of New York

c/o BlackRock Financial Management, Inc.

40 East 52nd Street

New York, NY 10022

 

Annex 1-2

    	 

    	

    

EXHIBIT 4.11

 

FORM OF SIDE LETTER

 

Exhibit 4.11-1

    	 

    	

    

Execution Version

 

August 13, 2020

 

CURTISS-WRIGHT CORPORATION 

CURTISS-WRIGHT CONTROLS, INC. 

METAL IMPROVEMENT COMPANY, LLC 

CURTISS-WRIGHT FLOW CONTROL CORPORATION 

CURTISS-WRIGHT FLOW CONTROL SERVICE, LLC 

CURTISS-WRIGHT ELECTRO-MECHANICAL CORPORATION 

CURTISS-WRIGHT SURFACE TECHNOLOGIES, LLC

130 Harbour Place Drive, Suite 300 

Davidson, NC 28036

 

Dear Ladies and Gentlemen:

 

Reference is made to that certain Note Purchase
Agreement dated as of August 13, 2020 (as amended, supplemented or otherwise modified from time to time, the “Note Agreement”)
among Curtiss-Wright Corporation, Curtiss-Wright Controls, Inc., Metal Improvement Company, LLC, Curtiss-Wright Flow Control Corporation,
Curtiss-Wright Flow Control Service, LLC, Curtiss-Wright Electro-Mechanical Corporation and Curtiss-Wright Surface Technologies,
LLC (collectively, the “Issuers”) and each of the Purchasers party thereto. Unless otherwise defined, capitalized
terms used in this letter have the meanings described in the Note Agreement.

 

Each of the Issuers acknowledges and agrees
that no Foreign Subsidiary will become a Designated Borrower (as defined as of the date hereof in that certain Fourth Amended and
Restated Credit Agreement, dated as of October 17, 2018, by and among the Company, certain of its Subsidiaries, Bank of America,
N.A. as Administrative Agent, Swing Line Lender and L/C Issuer, and certain other lenders party thereto, the “Bank of
America Credit Agreement”) under the Bank of America Credit Agreement after the date hereof until the expiration date
of the Bank of America Credit Agreement and any increases, refinancings and replacements thereof. If Issuers are required or need
to add any Designated Borrowers to the Bank of America Credit Agreement, any such Designated Borrower will not borrow under the
Bank of America Credit Agreement without the prior written consent of the holders of the Notes. Each of the parties hereto acknowledges
and agrees that the failure by the Issuers to comply with the terms of this letter shall constitute an Event of Default and provide
the holders of the Notes with all of the rights and remedies under the Note Agreement, and at law.

 

This letter shall be construed and enforced
in accordance with, and the rights of the parties shall be governed by, the law of the State of New York excluding choice-of-law
principles of the law of such state that would require the application of the laws of a jurisdiction other than such state.

    	 

    	

    

Please confirm your agreement to the foregoing by signing this letter
in the place provided.

 

Very truly yours,

 

AMERICAN GENERAL LIFE INSURANCE COMPANY

	By:	AIG Asset Management (U.S.), LLC, as Investment Adviser
	 	 
	 	By: 	        	 
	 	Name: Craig Moody
	 	Title: Vice President

 

THE VARIABLE ANNUITY LIFE INSURANCE COMPANY

	By:	AIG Asset Management (U.S.), LLC, as Investment Adviser
	 	 
	 	By: 	        	 
	 	Name: Craig Moody
	 	Title: Vice President

 

(Signature Page to Curtiss-Wright
Corporation, et al Side Letter)

    	 

    	

    

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

 

	By:	 	  
	 	Name:  Ashley Dexter
	 	Title:    Second Vice President

 

PENSIONSKASSE DES BUNDES PUBLICA

	By:	PGIM Private Capital Limited, as Investment Manager
	 	 	 
	 	By:	 	  
	 	 	Name:
	 	 	Title:   Director

 

HEALTH OPTIONS, INC.

	By:	PGIM Private Placement Investors, L.P.

 (as Investment Advisor)
	 	 
	By:	PGIM Private Placement Investors, Inc. 

(as its General Partner)

 

	 	By:	 	  
	 	Name:   Ashley Dexter
	 	Title:   Vice President

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

    	 

    	

    

THE PRUDENTIAL INSURANCE COMPANY OF AMERICA

 

	By:	 	 
	 	Name:  Ashley Dexter
	 	Title:    Second Vice President

 

PENSIONSKASSE DES BUNDES PUBLICA

	By:	PGIM Private Capital Limited, as Investment Manager
	 	By:	  	  
	 	 	Name: Edward Jolly
	 	 	Title:   Director

 

HEALTH OPTIONS, INC.

	By:	PGIM Private Placement Investors, L.P. 

(as Investment Advisor)
	 	 	 
	By:	PGIM Private Placement Investors, Inc. 

(as its General Partner)
	 	 	 
	 	By:	 	  
	 	 	Name: Ashley Dexter	 
	 	 	Title:   Vice President

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

    	 

    	

    

STATE FARM LIFE INSURANCE COMPANY

 

	By:	  	 
	Name: Jeffrey Attwood
	Title:   Investment Professional

 

	By:	  	 
	Name: Rebekah L. Holt
	Title:   Investment Professional

 

STATE FARM LIFE AND ACCIDENT
ASSURANCE COMPANY

 

	By:	  	 
	Name: Jeffrey Attwood
	Title:    Investment Professional

 

	By:	  	 
	Name: Rebekah L. Holt
	Title:   Investment Professional

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

    	 

    	

    

MASSACHUSETTS MUTUAL LIFE
INSURANCE COMPANY

	By:	Barings LLC as Investment Adviser	 
	 	 	 	 
	 	By:	  	 
	 	Name: Elisabeth A. Perenick	 
	 	Title:   Managing Director	 

 

C.M. LIFE INSURANCE COMPANY

	By:	Barings LLC as Investment Adviser	 
	 	 	 	 
	 	By:	  	 
	 	Name: Elisabeth A. Perenick	 
	 	Title:   Managing Director	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

    	 

    	

    

TEACHERS INSURANCE AND ANNUITY
ASSOCIATION OF AMERICA

	By:	Nuveen Alternatives Advisors LLC, its investment manager
	 	 	 	 
	 	By:	      	 
	 	Name: Ho Young Lee 	 
	 	Title:   Managing Director	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

    	 

    	

    

SYMETRA
LIFE INSURANCE COMPANY

 

	By:	  	  
	Name: Yvonne Guajardo
	Title:   Vice President and Managing Director

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

    	 

    	

    

THE
GUARDIAN LIFE INSURANCE COMPANY OF AMERICA

 

	By:	  	 
	Name: Barry Scheinholtz 
	Title:   Managing Director

 

THE GUARDIAN INSURANCE &
ANNUITY COMPANY, INC.

 

	By:	  	 
	Name: Barry Scheinholtz 
	Title:   Managing Director

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

    	 

    	

    

SOUTHERN
FARM BUREAU LIFE INSURANCE COMPANY

 

	By:	    	 
	Name:  David Divine 	 
	Title:    Director – Securities Management	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

    	 

    	

    

UNITED
OF OMAHA LIFE INSURANCE COMPANY

 

	By:	       	 
	Name: Lee Martin 	 
	Title:   Vice President	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

    	 

    	

    

AMERICAN UNITED LIFE INSURANCE
COMPANY

 

	By:	 	  
	Name:	Dave Weisenburger
	Title:
    	Vice
President, Fixed Income Securities

 

UNITED FARM FAMILY LIFE INSURANCE
COMPANY

	By:	American United Life Insurance Company
	Its:	Agent

 

	By:	 	 
	Name:	Dave Weisenburger
	Title:
    	Vice
President, Fixed Income Securities

 

THE STATE LIFE INSURANCE COMPANY

	By:	American United Life Insurance Company
	Its:	Agent

 

	By:	 	 
	Name:	Dave Weisenburger
	Title:
    	Vice
President, Fixed Income Securities

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

    	 

    	

    

USAA LIFE INSURANCE COMPANY

	By:	BlackRock Financial Management, Inc., as investment manager
	 	 	 	 
	 	By:	 	 
	 	Name: AnnMarie Smith 	 
	 	Title: Authorized Signatory	 

 

USAA LIFE INSURANCE COMPANY
OF NEW YORK

	By:	BlackRock Financial Management, Inc., as investment manager
	 	 	 	 
	 	By:	 	 
	 	Name: AnnMarie Smith 	 
	 	Title: Authorized Signatory	 

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

    	 

    	

    

We confirm the
understanding set forth

in the foregoing letter:

 

CURTISS-WRIGHT CORPORATION

CURTISS-WRIGHT CONTROLS, INC.

METAL IMPROVEMENT COMPANY, LLC

CURTISS-WRIGHT FLOW CONTROL
CORPORATION

CURTISS-WRIGHT FLOW CONTROL
SERVICE, LLC

CURTISS-WRIGHT ELECTRO-MECHANICAL
CORPORATION

CURTISS-WRIGHT SURFACE TECHNOLOGIES,
LLC

 

	By:	 	 
	Name: Harry Jakubowitz 
	Title:    Vice President & Treasurer

 

(Signature Page to Curtiss-Wright Corporation,
et al Side Letter)

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