Document:

EX-10.1

Execution Version

SECOND AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT

This Second Amendment dated as of June 15, 2012 to Third Amended and Restated Credit Agreement
(this “Amendment”) is entered into by and among Ferro Corporation, an Ohio corporation (the
“Company”), the Subsidiaries of the Company listed on the signature pages hereto, the
several banks and other financial institutions or entities listed on the signature pages hereto as
Lenders, and PNC Bank, National Association, as administrative agent (in such capacity, the
“Administrative Agent”) and collateral agent (in such capacity, the “Collateral
Agent”). Capitalized terms used but not defined herein shall have the meanings assigned to
such terms in the Credit Agreement, the Security Agreement and the Guaranty, as applicable.

W I T N E S S E TH:

WHEREAS, the Company, the Lenders from time to time party thereto, the Administrative Agent,
the Collateral Agent, the Issuer and the Syndication Agents have entered into the Third Amended and
Restated Credit Agreement, dated as of August 24, 2010 (as amended, restated, supplemented, waived
or otherwise modified prior to the date hereof, the “Credit Agreement”);

WHEREAS, the Company has requested that the Credit Agreement be amended as more fully set
forth herein; and

WHEREAS, the Lenders signing below, constituting at least the Required Lenders, are willing to
amend the Credit Agreement on the terms and subject to the conditions set forth herein.

NOW, THEREFORE, the parties hereto hereby agree and covenant as follows:

SECTION 1. Amendments.

(a) Section 1.1 of the Credit Agreement shall be amended by amending and restating the
definition of “Capital Expenditures” in its entirety as follows:

“Capital Expenditures” means, for any period, the aggregate amount of
all expenditures of the Company and its Subsidiaries for fixed or capital assets
made during such period which, in accordance with GAAP, would be classified as
capital expenditures on the Company’s Consolidated Statement of Cash Flows;
provided, that up to $10,000,000 in the aggregate of such expenditures
attributable to the Company’s Polymer Additives Division after the Second Amendment
Effective Date shall be excluded from the calculation of Capital Expenditures.

(b) Section 1.1 of the Credit Agreement shall be amended by amending and restating the
definition of “EBITDA” in its entirety as follows:

“EBITDA” means, for any applicable period, the sum of (a) Net Income,
plus (b) to the extent deducted in determining Net Income, and without duplication,
the sum of (i) amortization expense, (ii) income tax expense, (iii) Interest
Expense, (iv) depreciation expense, (v) restructuring expenses attributable to the
Company’s restructuring (x) in the 2010 Fiscal Year in an aggregate amount not to
exceed $19,000,000 for the period commencing July 1, 2010 and (y) in the 2012 Fiscal
Year, the 2013 Fiscal Year and the 2014 Fiscal Year in an amount not to exceed
$10,000,000 in any such Fiscal Year and $20,000,000 in the aggregate, (vi)
non-recurring fees, non-cash charges, cash charges and other cash expenses paid in
connection with the preparation, negotiation, approval, execution and delivery this
Agreement and the other Loan Documents and the Senior Note Documents, including, in
each case, amendments, waivers and other modifications thereto, (vii) non-cash
expenses incurred in connection with asset write-offs, including, but not limited
to, goodwill impairments, (viii) if applicable, any swap or hedge breakage costs
relating to interest rate swaps or hedges in effect on the Closing Date, in each
case to the extent any such costs do not constitute Interest Expense, (ix) non-cash
losses resulting from mark-to-market accounting treatment of interest rate hedging
agreements, (x) non-cash losses resulting from mark-to-market accounting treatment
of metals owned by the Company as of the date of determination and recorded as
assets on the consolidated balance sheet of the Company and its Subsidiaries, (xi)
all charges and associated expenses in connection with the refinancing, retirement
or extinguishment of any Indebtedness, including initial issuance costs, prepayment
penalties, swap breakage fees and write-off of deferred issuance fees, (xii)
non-recurring one-time charges and expenses in an aggregate amount in any Fiscal
Year not to exceed $10,000,000, (xiii) non-recurring charges related to pension
settlement or curtailment in an aggregate amount not to exceed $20,000,000 over the
term of this Agreement and (xiv) expenses paid in connection with the implementation
of the Ferro Business Systems Initiative not to exceed $15,000,000 in the aggregate
over the term of this Agreement, minus (c) to the extent added in determining Net
Income, the sum of (i) non-cash gains resulting from mark-to-market accounting
treatment of interest rate hedging agreements and (ii) non-cash gains resulting from
mark-to-market accounting treatment of metals owned by the Company as of the date of
determination and recorded as assets on the consolidated balance sheet of the
Company and its Subsidiaries. Notwithstanding the foregoing, EBITDA for the Fiscal
Quarters ending December 31, 2009, March 31, 2010 and June 30, 2010 shall be deemed
to be $54,530,000, $57,815,000, and $70,813,000, respectively.

(c) Section 1.1 of the Credit Agreement shall be amended by deleting the definition of “Fixed
Charge Coverage Ratio” in its entirety.

(d) Section 1.1 of the Credit Agreement shall be amended by adding therein the following
definitions in appropriate alphabetical order:

“Ferro Business Systems Initiative” means the initiative to standardize
and simplify the Company’s global business processes and to upgrade the Company’s
internal management SAP ERP based systems.

“Interest Coverage Ratio” means, as of the close of any Fiscal Quarter,
the ratio computed for the period consisting of such Fiscal Quarter and each of the
three immediately preceding Fiscal Quarters of (a) EBITDA (for all such Fiscal
Quarters) to (b) the sum of (i) Interest Expense actually paid in cash
during such Fiscal Quarters (excluding (A) initial issuance costs paid in connection
with Indebtedness incurred in respect of the Obligations and Indebtedness under the
Senior Note Documents, (B) any make-whole premium or Interest Expense payable in
connection with the prepayment of Indebtedness under the Existing Credit Agreement
and the Existing Notes and (C) if applicable, any swap or hedge breakage costs
relating to interest rate swaps or hedges in effect on the Closing Date (including
any such costs incurred in connection with a prepayment of the term loans under the
Existing Credit Agreement)) and (ii) finance expenses actually paid in connection
with the Permitted Receivables Program during such Fiscal Quarters;
provided, that non-recurring fees, non-cash charges, cash charges and other
cash expenses paid in connection with or related to the preparation, negotiation,
approval, execution and delivery of the amendment and restatement of this Agreement
and the other Loan Documents and the Senior Note Documents, including, in each case,
amendments, waivers and other modifications thereto, shall be excluded from
clause (b) above.

“Second Amendment” means that certain Second Amendment dated as of June
15, 2012 to Third Amended and Restated Credit Agreement by and among the Company,
the Subsidiaries of the Company listed on the signature pages thereto, the Required
Lenders, the Administrative Agent and the Collateral Agent.

“Second Amendment Effective Date” is defined in the Second Amendment.

(e) Section 1.4(b) of the Credit Agreement shall be amended by replacing “Fixed Charge
Coverage Ratio” appearing therein with “Interest Coverage Ratio”.

(f) Section 7.2.2(h) of the Credit Agreement shall be amended and restated in its entirety as
follows:

“(h) Indebtedness of Foreign Subsidiaries in connection with local lines of credit in
an aggregate amount not to exceed $50,000,000, and Contingent Liabilities of the Company in
respect of the foregoing.”

(g) Section 7.2.4 of the Credit Agreement shall be amended and restated in its entirety as
follows:

“Section 7.2.4. Financial Condition and Operations. The Company will not
permit any of the events set forth below to occur.

(a) The Company will not permit the Leverage Ratio as of the last day of any
Fiscal Quarter set forth below to be greater than the ratio set forth opposite such
period.

	 	 	 
	Fiscal Quarter Ending	 	Leverage Ratio
	June 30, 2012

	 	3.50:1.00
	 

	 	 
	September 30, 2012

	 	4.25:1.00
	 

	 	 
	December 31, 2012

	 	4.25:1.00
	 

	 	 
	March 31, 2013 and each Fiscal Quarter thereafter

	 	3.50:1.00
	 

	 	 

(b) The Company will not permit the Interest Coverage Ratio as of the last day
of any Fiscal Quarter set forth below to be less than the ratio set forth opposite
such period.

	 	 	 
	Fiscal Quarter Ending	 	Interest Coverage Ratio
	June 30, 2012

	 	2.50:1.00
	 

	 	 
	September 30, 2012

	 	2.50:1.00
	 

	 	 
	December 31, 2012

	 	2.75:1.00
	 

	 	 
	March 31, 2013 and each Fiscal Quarter thereafter

	 	3.00:1.00
	 

	 	 

(h) Section 7.2 of the Credit Agreement shall be amended by adding a new Section 7.2.13
thereto as follows:

“Section 7.2.13. Capital Expenditures. The Company will not permit the
aggregate amount of Capital Expenditures made by the Company and its Subsidiaries in
any period set forth below to exceed the amount set forth below for such period:

	 	 	 	 	 
	Period	 	Maximum Capital Expenditures
	Three months ending June 30, 2012
	 	$	20,000,000	 
	 
	 	 	 	 
	Six months ending September 30, 2012
	 	$	35,000,000	 
	 
	 	 	 	 
	Nine months ending December 31, 2012
	 	$	50,000,000	 
	 
	 	 	 	 
	Twelve months ending March 31, 2013
	 	$	65,000,000	 
	 
	 	 	 	 
	2013 Fiscal Year and each Fiscal Year thereafter
	 	$	65,000,000	 
	 
	 	 	 	 

The amount of permitted Capital Expenditures set forth above in respect of any
Fiscal Year commencing with the 2014 Fiscal Year shall be increased by the amount of
unused permitted Capital Expenditures for the immediately preceding Fiscal Year,
provided, that unused permitted Capital Expenditures may not be carried
forward for more than one Fiscal Year, with any Capital Expenditures being carried
forward being deemed to be the first Capital Expenditures in any Fiscal Year.

(i) Exhibit E (Form of Compliance Certificate) to the Credit Agreement shall be amended and
restated in its entirety by Exhibit E attached hereto.

SECTION 2. Conditions to Effectiveness. The effectiveness of this Amendment is
subject to the satisfaction of the following conditions (the date on which such conditions are
satisfied, the “Second Amendment Effective Date”):

(a) The Administrative Agent shall have received duly executed and delivered counterparts of
this Amendment that, when taken together, bear the signatures of (i) the Company, (ii) the
Grantors, (iii) the Guarantors, (iv) the Administrative Agent, (v) the Collateral Agent and (vi)
the Required Lenders.

(b) The Company shall have paid to the Administrative Agent all outstanding fees, costs and
expenses owing to the Administrative Agent and its Affiliates as of such date, except that the
Company shall pay the reasonable fees, disbursements and other charges of Latham & Watkins LLP,
counsel for the Administrative Agent, within seven days following receipt of an invoice therefor
and such payment shall not constitute a condition to the occurrence of the Second Amendment
Effective Date.

(c) The Administrative Agent shall have received a certificate, dated as of the Second
Amendment Effective Date, duly executed and delivered by an Authorized Officer of the Company, as
to the matters described in Section 3(a)(ii) and Section 3(a)(iii) of this Amendment.

(d) The Company shall have paid to the Administrative Agent for the account of each Lender
that has executed and delivered a signature page approving this Amendment on or before 5 p.m. (New
York City time) on Wednesday, June 13, 2012, a fee in an amount equal to 0.05% of the aggregate
amount of such Lender’s Revolving Loan Commitment (whether used or unused).

SECTION 3. Miscellaneous.

(a) Representations and Warranties. To induce the other parties hereto to enter into
this Amendment, the Company, the Grantors and the Guarantors represent and warrant to each of the
Lenders, the Administrative Agent and the Collateral Agent that, as of the Second Amendment
Effective Date:

(i) This Amendment has been duly authorized, executed and delivered by the Company, the
Grantors and the Guarantors, and this Amendment and the Credit Agreement (after giving
effect to this Amendment) constitute the Company’s, each Grantor’s and each Guarantor’s, as
applicable, legal, valid and binding obligation, enforceable against it in accordance with
its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other
laws affecting creditors’ rights generally and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law;

(ii) The representations and warranties set forth in the Credit Agreement and each
other Loan Document are, in each case after giving effect to this Amendment, true and
correct in all material respects on and as of the Second Amendment Effective Date, except to
the extent such representations and warranties expressly relate to an earlier date, in which
case they were true and correct in all material respects as of such earlier date;

(iii) No Default has occurred and is continuing; and

(iv) The execution, delivery and performance by the Company, each Grantor and each
Guarantor of this Amendment do not (x) contravene any (A) such Person’s Organic Documents,
(B) court decree or order binding on or affecting any such Person or (C) law or governmental
regulation binding on or affecting any such Person or (y) result in (A) or require the
creation or imposition of, any Lien on any such Person’s properties (except as permitted by
the Credit Agreement) or (B) a default under any contractual restriction binding on or
affecting any such Person.

(b) Affirmation and Consent. Each of the Company, each Grantor and each Guarantor
hereby reaffirms, as of the Second Amendment Effective Date, (i) the covenants and agreements made
by such Person contained in each Loan Document to which it is a party, (ii) with respect to each
Guarantor, its guarantee of payment of the Guaranteed Obligations pursuant to the Guaranty, and
(iii) with respect to each Grantor party to the Security Agreement or a Mortgage, its pledges and
other grants of Liens in respect of the Secured Obligations pursuant to any such Loan Document, in
each case, as such covenants, agreements and other provisions may be modified by this Amendment.

(c) Cross-References. References in this Amendment to any Article or Section are,
unless otherwise specified, to such Article or Section of this Amendment.

(d) Loan Document Pursuant to Credit Agreement. This Amendment is a Loan Document
executed pursuant to the Credit Agreement and shall (unless otherwise expressly indicated therein)
be construed, administered and applied in accordance with all of the terms and provisions of the
Credit Agreement, as amended hereby, including Article X thereof.

(e) Successors and Assigns. This Amendment shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns.

(f) Counterparts. This Amendment may be executed by the parties hereto in several
counterparts, each of which when executed and delivered shall be an original and all of which
shall constitute together but one and the same agreement. Delivery of an executed counterpart of
a signature page to this Amendment by facsimile (or pdf or other electronic transmission) shall be
effective as delivery of a manually executed counterpart of this Amendment.

(g) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK.

(h) Full Force and Effect; Limited Amendment.

(i) 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 Agents or the Collateral Agent under the 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 Credit
Agreement or any other provision of the Credit Agreement or of any other Loan Document, all
of which are ratified and affirmed in all respects and shall continue in full force and
effect. Nothing herein shall be deemed to entitle the Company, the Grantors and the
Guarantors to a consent to, or a waiver, amendment, modification or other change of, any of
the terms, conditions, obligations, covenants or agreements contained in the Credit
Agreement or any other Loan Document in similar or different circumstances.

(ii) The parties hereto acknowledge and agree that (i) this Amendment and any other
Loan Documents executed and delivered in connection herewith do not constitute a novation,
or termination of the “Obligations” (as defined in the Loan Documents) under the Credit
Agreement as in effect prior to the Second Amendment Effective Date; (ii) such “Obligations”
are in all respects continuing (as amended hereby) with only the terms thereof being
modified to the extent provided in this Amendment; and (iii) the Liens and security
interests as granted under the Loan Documents securing payment of such “Obligations” are in
all such respects continuing in full force and effect and secure the payments of the
“Obligations”.

(i) Headings. The headings of this Amendment are for purposes of reference only and
shall not limit or otherwise affect the meaning hereof.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed
by their respective officers as of the day and year first above written.

FERRO CORPORATION

By: /s/ John T. Bingle

Name: John T. Bingle

Title: Treasurer

FERRO ELECTRONIC MATERIALS INC.

By: /s/ John T. Bingle

Name: John T. Bingle

Title: Treasurer

FERRO PFANSTIEHL LABORATORIES, INC.

By: /s/ John T. Bingle

Name: John T. Bingle

Title: Treasurer

FERRO INTERNATIONAL SERVICES INC.

By: /s/ John T. Bingle

Name: John T. Bingle

Title: Treasurer

FERRO CHINA HOLDINGS INC.

By: /s/ John T. Bingle

Name: John T. Bingle

Title: Treasurer

OHIO-MISSISSIPPI CORPORATION

By: /s/ John T. Bingle

Name: John T. Bingle

Title: Treasurer

1

CATAPHOTE CONTRACTING COMPANY

By: /s/ John T. Bingle

Name: John T. Bingle

Title: Treasurer

THE FERRO ENAMEL SUPPLY COMPANY

By: /s/ John T. Bingle

Name: John T. Bingle

Title: Treasurer

FERRO FAR EAST, INC.

By: /s/ John T. Bingle

Name: John T. Bingle

Title: Treasurer

2

PNC BANK, NATIONAL ASSOCIATION, as Administrative

Agent, Collateral Agent and a Lender

By: /s/ Christian S. Brown

Name: Christian S. Brown

Title: Senior Vice President

3

Name of Lender:

KEYBANK NATIONAL ASSOCIATION

By: /s/ Brian P. Fox

Name: Brian P. Fox

Title: Vice President

4

Name of Lender:

RBS Citizens, N.A.

By: /s/ Joshua Botnick

Name: Joshua Botnick

Title: Vice President

5

Name of Lender:

US BANK NATIONAL ASSOCIATION

By: /s/ Patrick H. McGraw

Name: Patrick H. McGraw

Title: Vice President

6

Name of Lender:

Citibank, N.A.

By: /s/ David Jaffee

Name: David Jaffe

Title: Vice President

7

Name of Lender:

FIRSTMERIT BANK, N.A.

By: /s/ Robert G. Morlan

Name: Robert G. Morlan

Title: Senior Vice President

8

Name of Lender:

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH

By: /s/ Bill O’Daly

Name: Bill O’Daly

Title: Director

By: /s/ Tyler R. Smith

Name: Tyler R. Smith

Title: Associate

9

Name of Lender:

THE PRIVATE BANK AND TRUST COMPANY

By: /s/ Robert M. Walker

Name: Robert M. Walker

Title: Managing Director

10

Name of Lender:

First Commonwealth Bank

By: /s/ Stephen J. Orban

Name: Stephen J. Orban

Title: Senior Vice President

11

Name of Lender:

Bank of America

By: /s/ Matthew Buzzelli 

Name: Matthew Buzzelli

Title: Senior Vice President

12

Name of Lender:

JP Morgan Chase Bank, N.A.

By: /s/ Diane M. Faunda

Name: Diane M. Faunda

Title: Managing Director

13

Name of Lender:

Fifth Third Bank

By: /s/ Sandra Centa

Name: Sandra Centa

Title: Vice President

EXHIBIT E

[FORM OF] COMPLIANCE CERTIFICATE

FERRO CORPORATION

This Compliance Certificate is delivered pursuant to Section 7.1.1 Third Amended and Restated
Credit Agreement, dated as of August 24, 2010 (as amended, supplemented, amended and restated or
otherwise modified from time to time, the “Credit Agreement”), among Ferro Corporation, an
Ohio corporation (the “Company”), as a borrower, the Designated Borrowers from time to time
party thereto, the various financial institutions and other Persons from time to time parties
thereto, PNC Bank, National Association, as the Administrative Agent and as the Collateral Agent
for the Secured Parties, and JP Morgan Chase Bank, N.A. and Bank of America, N.A., as Syndication
Agents. Terms used herein, unless otherwise defined herein, have the meanings provided in the
Credit Agreement.

The Company hereby certifies, represents and warrants that, as of              , 20       (the
“Computation Date”), no Default had occurred and was continuing.1 The Company
hereby further represents and warrants that as of the Computation Date:

1. Financial Covenants:

(a) The maximum Leverage Ratio permitted pursuant to clause (a) of Section 7.2.4 of the Credit
Agreement on the Computation Date is        to 1.00. The actual Leverage Ratio was        to 1.00, as
computed on Attachment I hereto, and, accordingly, the covenant [has][has not] been
complied with.

(b) The minimum Interest Coverage Ratio permitted pursuant to clause (b) of Section 7.2.4 of
the Credit Agreement on the Computation Date is        to 1.00. The actual Interest Coverage Ratio
was        to 1.00, as computed on Attachment II hereto, and, accordingly, the covenant
[has][has not] been complied with.

(c) The maximum Capital Expenditures permitted pursuant to Section 7.2.13 of the Credit
Agreement for the period ending on the Computation Date, including unused permitted Capital
Expenditures carried forward from the immediately preceding Fiscal Year, are $      as
computed on Attachment III hereto. The actual Capital Expenditures for the period ending on
the Computation Date were $      , and, accordingly the covenant [has][has not] been
complied with.

2. Subsidiaries: No Subsidiary has been formed or acquired since the delivery of the last
Compliance Certificate.2

IN WITNESS WHEREOF, the Company has caused this Compliance Certificate to be executed and
delivered, and the certifications and warranties contained herein to be made on behalf of the
Company, by the chief financial or accounting Authorized Officer of the Company as of       ,
20      .

FERRO CORPORATION

By

Name:

Title:

LEVERAGE RATIO

as of the last day of the Fiscal Quarter ending on or

immediately preceding the Computation Date

	 	 	 	 	 
	1. Total Debt: the outstanding principal amount of the
following types of Indebtedness of the Company and its
Subsidiaries as of the last day of the Fiscal Quarter ending
on or immediately preceding the Computation Date (exclusive of
intercompany Indebtedness between the Company and its
Subsidiaries):
	 	 	 	 
	 
	 	 	 	 
	(a) all obligations of such Person for borrowed
money or advances and all obligations of such
Person evidenced by bonds, debentures, notes or
similar instruments (which, in the case of the
Loans, shall be deemed to equal the Dollar
Equivalent (determined as of the most recent
Revaluation Date) for any Loans denominated in an
Alternate Currency)
	 	$	 	 
	 
	 	 	 	 
	(b) all obligations, contingent or otherwise,
relative to the face amount of all letters of
credit, whether or not drawn, and banker’s
acceptances issued for the account of such Person
(which, in the ease of Letter of Credit
Outstandings, shall be deemed to equal the Dollar
Equivalent (determined as of the most recent
Revaluation Date) for any Letter of Credit
Outstandings denominated in an Alternate Currency).
	 	$	 	 
	 
	 	 	 	 
	(c) all monetary obligations of such Person and
its Subsidiaries under any leasing or similar
arrangement which have been (or, in accordance
with GAAP, should be) classified as capitalized
leases, and for purposes of each Loan Document the
amount of such obligations shall be the
capitalized amount thereof, determined in
accordance with GAAP, and the stated maturity
thereof shall be the date of the last payment of
rent or any other amount due under such lease
prior to the first date upon which such lease may
be terminated by the lessee without payment of a
premium or a penalty (“Capitalized Lease
Liabilities”)
	 	$	 	 
	 
	 	 	 	 
	(d) obligations arising under any lease (including
leases that may be terminated by the lessee at any
time) of any property (whether real, personal or
mixed) (i) that is not a capital lease in
accordance with GAAP and (ii) in respect of which
the lessee retains or obtains ownership of the
property so leased for federal income tax
purposes, other than any such lease under which
that Person is the lessor (synthetic leases)
	 	$	 	 
	 
	 	 	 	 
	(e) all obligations (other than intercompany
obligations) of such Person pursuant to any
Permitted Receivables Program
	 	$	 	 
	 
	 	 	 	 
	(f) the stated value, or liquidation value if
higher, of all Redeemable Stock of such Person
	 	$	 	 
	 
	 	 	 	 
	(g) (without duplication) any Contingent Liability
in respect of any of the foregoing
	 	$	 	 
	 
	 	 	 	 
	(h) The sum of Items 1(a) through 1(g)
	 	$	 	 
	 
	 	 	 	 
	2. EBITDA as of the last day of the Fiscal Quarter ending on
or immediately preceding the Computation Date and each of the
three immediately preceding Fiscal Quarters:
	 	 	 	 
	 
	 	 	 	 
	(a) Net Income
	 	$	 	 
	 
	 	 	 	 
	plus, to the extent deducted in determining Net Income:
	 	 	 	 
	 
	 	 	 	 
	(b) amortization expense
	 	$	 	 
	 
	 	 	 	 
	(c) income tax expense
	 	$	 	 
	 
	 	 	 	 
	(d) Interest Expense
	 	$	 	 
	 
	 	 	 	 
	(e) depreciation expense
	 	$	 	 
	 
	 	 	 	 
	(f) restructuring expenses attributable to the
Company’s restructuring (i) in 2010 in an
aggregate amount not to exceed $19,000,000 for the
period commencing July 1, 2010 and (ii) in the
2012 Fiscal Year, the 2013 Fiscal Year and the
2014 Fiscal Year in an amount not to exceed
$10,000,000 in any such Fiscal Year and
$20,000,000 in the aggregate
	 	$	 	 
	 
	 	 	 	 
	(g) non-recurring fees, non-cash charges, cash
charges and other cash expenses paid in connection
with the preparation, negotiation, approval,
execution and delivery of the Credit Agreement and
the other Loan Documents and the Senior Note
Documents (each as defined therein), including, in
each case, amendments, waivers and other
modifications thereto
	 	$	 	 
	 
	 	 	 	 
	(h) non-cash expenses incurred in connection with
asset write-offs, including, but not limited to,
goodwill impairments
	 	$	 	 
	 
	 	 	 	 
	(i) if applicable, any swap or hedge breakage
costs relating to interest rate swaps or hedges in
effect on the Closing Date, in each case to the
extent any such costs do not constitute Interest
Expense
	 	$	 	 
	 
	 	 	 	 
	(j) non-cash losses resulting from mark-to-market
accounting treatment of interest rate hedging
agreements
	 	$	 	 
	 
	 	 	 	 
	(k) non-cash losses resulting from mark-to-market
accounting treatment of metals owned by the
Company as of the date of determination and
recorded as assets on the consolidated balance
sheet of the Company and its Subsidiaries
	 	$	 	 
	 
	 	 	 	 
	(l) all charges and associated expenses in
connection with the refinancing, retirement or
extinguishment of any Indebtedness, including
initial issuance costs, prepayment penalties, swap
breakage fees and write-off of deferred issuance
fees
	 	$	 	 
	 
	 	 	 	 
	(m) non-recurring one-time charges and expenses in
an aggregate amount in any Fiscal Year not to
exceed $10,000,000
	 	$	 	 
	 
	 	 	 	 
	(n) non-recurring charges related to pension
settlement or curtailment in an aggregate amount
not to exceed $20,000,000 over the term of the
Credit Agreement
	 	$	 	 
	 
	 	 	 	 
	(o) expenses paid in connection with the
implementation of the Ferro Business Systems
Initiative not to exceed $15,000,000 in the
aggregate over the term of the Credit Agreement
	 	$	 	 
	 
	 	 	 	 
	minus, to the extent added in determining Net Income:
	 	 	 	 
	 
	 	 	 	 
	(p) non-cash gains resulting from mark-to-market
accounting treatment of interest rate hedging
agreements
	 	$	 	 
	 
	 	 	 	 
	(q) non-cash gains resulting from mark-to-market
accounting treatment of metals owned by the
Company as of the date of determination and
recorded as assets on the consolidated balance
sheet of the Company and its Subsidiaries
	 	$	 	 
	 
	 	 	 	 
	(r) The sum of Items 2(a) through 2(o) minus the
sum of Items 2(p) and (q)
	 	$	3	 
	 
	 	 	 	 
	3. LEVERAGE RATIO: ratio of Item 1(h) to Item 2(r)
	 	 	___: 1.00	 
	 
	 	 	 	 

INTEREST COVERAGE RATIO

as of the last day of the Fiscal Quarter ending on or

immediately preceding the Computation Date

	 	 	 	 	 
	1. EBITDA (see Item 2(r) of Attachment I)
	 	$	—	 
	 
	 	 	 	 
	2. The sum (for the period consisting of the Fiscal Quarter ending
on or immediately preceding the Computation Date and each of the
three immediately preceding Fiscal Quarters) of
	 	$	—	 
	 
	 	 	 	 
	(a) Interest Expense actually paid in cash during such
Fiscal Quarters4
	 	$	—	 
	 
	 	 	 	 
	(b) finance expenses actually paid in connection with the
Permitted Receivables Program during such Fiscal Quarters.
	 	$	—	 
	 
	 	 	 	 
	3. INTEREST COVERAGE RATIO: the ratio of Item 1 to Item 2
	 	 	____: 1.00	 
	 
	 	 	 	 

CAPITAL EXPENDITURES

for the ___ month period ending on the Computation Date

	 	 	 	 	 
	(a) Maximum Capital Expenditures for the period ending on
the Computation Date pursuant to Section 7.2.13 of the
Credit Agreement (excluding carry forwards):
	 	$	—	 
	 
	 	 	 	 
	(b) Permitted unused Capital Expenditures carried forward
from the immediately preceding Fiscal Year
	 	$	—	 
	 
	 	 	 	 
	(c) Maximum allowed Capital Expenditures for the period
ending on the Computation Date (a+b)
	 	$	—	 
	 
	 	 	 	 
	(d) Actual Capital Expenditures for the period ending on the
Computation Date
	 	$	—	 
	 
	 	 	 	 

	 	1	 	If a Default has occurred, specify the
details of such Default and the action that the Company or an Obligor has taken
or proposes to take with respect thereto.

	 	2	 	If a Subsidiary has been formed or acquired
since the delivery of the last Compliance Certificate, the Company must certify
that such Subsidiary has complied with Section 7.1.8 of the Credit Agreement.

	 	3	 	EBITDA for the Fiscal Quarters ending
December 31, 2009, March 31, 2010 and June 30, 2010 shall be deemed to be
$54,530,000, $57,815,000, and $70,813,000, respectively.

	 	4	 	Excluding (A) initial issuance costs paid in
connection with Indebtedness incurred in respect of the Obligations and
Indebtedness under the Senior Note Documents, (B) any make-whole premium or
Interest Expense payable in connection with the prepayment of Indebtedness
under the Existing Credit Agreement and the Existing Notes and (C) if
applicable, any swap or hedge breakage costs relating to interest rate swaps or
hedges in effect on the Closing Date (including any such costs incurred in
connection with a prepayment of the term loans under the Existing Credit
Agreement)); provided, that non-recurring fees, non-cash charges, cash
charges and other cash expenses paid in connection with or related to the
preparation, negotiation, approval, execution and delivery of the amendment and
restatement of this Agreement and the other Loan Documents and the Senior Note
Documents, including, in each case, amendments, waivers and other modifications
thereto, shall also be excluded.

14EX 10.1 Amended and Restated Executive Officer Severance/Change in Control Plan, as amended

MOTRICITY, INC.
EXECUTIVE OFFICER
AMENDED AND RESTATED SEVERANCE/CHANGE IN CONTROL PLAN

1.PURPOSE

The purpose of this Amended and Restated Severance/Change in Control Plan (the “Plan”) for executive officers of Motricity, Inc. (the “Company”) is to provide severance benefits to designated executive officers of Motricity, Inc., or its subsidiaries or Affiliates, upon their termination of employment under the specified circumstances described below.  
2.    EFFECTIVE DATE

As approved by the Compensation Committee of the Board of Directors (the “Compensation Committee”) to amend and restate the Plan, effective as of May 30, 2012 (the “Effective Date”).  
3.    ELIGIBILITY
To qualify for severance benefits under this Plan, an individual must be an executive officer of the Company (other than the current Chief Executive Officer of the Company who shall not qualify for severance benefits under this Plan) specifically designated as eligible to participate in the Plan pursuant to notification  in writing from the Compensation Committee (each, an “Executive”); provided, however, that an eligible executive officer shall  be eligible for benefits hereunder only during the two year period following his/her respective date of  eligibility  hereunder.  Once an eligible executive officer has two years of eligibility  coverage  hereunder then he/she will cease to be eligible for any benefits hereunder. 
4.    NO DUTY TO MITIGATE
In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Plan and, except as provided in Section 9, such amounts shall not be reduced whether or not the Executive obtains other employment.  
5.    FULL SETTLEMENT/RELEASE
The Executive shall only be entitled to receive payments under Section 6, respectively, if Executive:  (a) executes within forty-five (45) days of the Date of Termination a general release of claims against the Company, its subsidiaries, Affiliates, officers, directors and shareholders, in a form and of a scope determined by the Company in its sole discretion and approved by the Compensation Committee, including, without 

limitation, non-disparagement provisions; (b) presents satisfactory evidence to the Company that she/he has returned all Company property, confidential information and documentation to the Company; (c) continues to comply with the provisions of any non-disclosure, non-competition, non-solicitation agreement and/or policy; and (d) provides the Company with a signed, written resignation of Executive’s status as an officer of the Company or any of its Affiliates, if applicable.  In the event that the Company determines that Executive has breached, or has threatened to breach, any material provision of the aforementioned restrictive covenants set forth in a separate written agreement or policy, the Company shall immediately terminate all payments and benefits and Executive shall no longer be entitled to such benefits.  Such termination of benefits shall be in addition to any and all legal and equitable remedies available to the Company, including injunctive relief.  
6.    SEVERANCE BENEFITS
6.1    Severance Payments
An Executive shall be entitled severance payments as follows:
		
	(a)
	Termination without Cause.  In the event the Executive’s employment is terminated by the Company without Cause (as defined herein), the Executive shall be entitled to a severance payment in an amount equal (i) all Accrued Obligations, (ii) an amount equal to six-twelfths (6/12) of his or her annualized Base Salary, paid ratably over the 6-month period following the termination of his or her employment in accordance with the Company’s payroll practices, and (iii) any other benefits or compensation payable under any of the Company’s employee benefit plans in accordance with the applicable plan’s terms; which payments are subject to and conditioned upon Executive’s execution and delivery to the Company of the Release.  Payments and benefits provided in this Section 6.1(a) shall commence 15 days following the expiration of the revocation period set forth in the Release and shall be in lieu of any termination or severance payments or benefits for which Executive may be eligible under any of the plans, policies or programs of the Company or under the Worker Adjustment Retraining Notification Act of 1988 or any similar state statute or regulation.  

		
	(b)
	Termination as a Result of Death, Disability or Cause.  If the Executive’s employment is terminated for Cause or as a result of the Executive’s death or Disability, then Executive’s participation in this Plan shall terminate and Executive shall receive no payments hereunder other than payment of any Accrued Obligations and payment of any benefits or compensation payable under any of the Company’s employee benefit plans in accordance with the applicable plan’s terms. 

		
	(c)
	Termination of Employment Following a Change in Control without Cause or for Good Reason.  In the event Executive’s employment is terminated by the Company without Cause (other than in connection with Executive’s death or Disability) or by Executive for Good Reason during the period (i) commencing on the  date of execution of a definitive transaction agreement to which the Company is a party which, when consummated, will constitute a Change in Control, and (ii) ending on the earlier of (A) the termination of the executed definitive transaction agreement that would have effected a Change in Control contemplated by clause (i) of this Section 6.1(c) or (B) the 12-month anniversary of such Change in Control, then in lieu of the benefits described in Section 6.1(a) above, Executive shall be entitled to a severance payment in an amount equal to six twelfths (6/12) of his or her annualized Base Salary, paid ratably over the 6-month period following the termination of his or her employment in accordance with the Company’s payroll practices upon Executive’s execution and delivery to the Company of the Release and payment to commence 15 days following such execution and delivery.

		
	(d)
	Acceleration of Rights following a Change in Control with Termination without Cause or for Good Reason.  In the event Executive’s employment is terminated by the Company without Cause or by Executive for Good Reason during the period (i) commencing on the  date of execution of a definitive transaction agreement to which the Company is a party which, when consummated, will constitute a Change in Control, and (ii) ending on the earlier of (A) the termination of the executed definitive transaction agreement that would have effected a Change in Control contemplated by clause (i) of this Section 6.1(d) or (B) the 12-month anniversary of such Change in Control, then in addition to any vested rights of the Executive under the terms of any Company plan relating to stock options, restricted stock or performance stock units, seventy-five percent (75%) of the then unvested options, restricted stock or performance stock units, which Executive then holds to acquire securities from the Company, shall be immediately and automatically vested and exercisable as of the date Executive’s employment is so terminated by the Company without Cause or by Executive for Good Reason notwithstanding any other provisions to the contrary contained herein or in any  stock option, restricted stock, performance stock units, or other equity compensation plans sponsored by the Company, unless such policy or plan expressly references and supersedes this Plan.  Notwithstanding the foregoing, any stock option, restricted stock or performance stock unit that is subject to a performance vesting schedule will only accelerate in accordance with this section  subject to achievement of the applicable performance target set forth in the governing agreement.

The severance benefits available under the Plan are the maximum made available by the Company in the 

event of an Executive’s termination of employment.  To the extent that an Executive’s employment agreement or offer letter or any federal, state or local law requires the Company to make payment to an Executive because of involuntary termination of employment, or in accordance with a federal or state plant closing type law (e.g., the WARN Act) then the severance benefits available under this Plan will be reduced by the amount of such required payment(s). 
6.2    Incentive Awards
Executive shall remain eligible to receive bonus payments, to the extent otherwise eligible, for incentive and/or bonus awards already accrued and earned in accordance with terms of the governing bonus plan as of the date of termination for performance periods ended prior to the date of termination.  In the event an Executive is terminated during the applicable performance period then he or she shall not be eligible to receive a pro rata or any other incentive and/or bonus award.  
7.    OTHER BENEFITS
The following applies to termination regardless of whether or not the Executive receives severance benefits under the Plan.
		
	(a)
	Medical, dental and vision benefits and all other Company-provided and elected life, accident and disability coverage ends on the last day of the month in which the termination of employment occurs.  Medical, dental and vision coverage may be elected subject to the provisions of COBRA.  All other benefit coverage will end on the Executive’s termination date.

		
	(b)
	Benefits under the Company’s 401(k) Plan will be made in accordance with the terms thereof.  Executives participating in this Plan will receive information regarding these benefits after their termination.

8.    SECTION 409A
The Company makes no representations or warranties to any Executive with respect to any tax, economic or legal consequences of this Plan or any payments or other benefits provided hereunder, including without limitation under Section 409A of the Internal Revenue Code of 1986, as amended and the Treasury regulations and other guidance promulgated thereunder ("Section 409A"), and no provision of this Plan shall be interpreted or construed to transfer any liability for failure to comply with Section 409A or any other legal requirement from any Executive or any other individual to the Company.  An Executive, by executing and not revoking a Release, shall be deemed to have waived any claim against the Company and any other person 

with respect to any such tax, economic or legal consequences.  To the extent Section 409A is applicable to such installments; each installment shall be treated as a separate payment.  Furthermore, to the extent Section 409A is applicable to this Plan (and such payments and benefits); the Company intends that this Plan (and such payments and benefits) comply with the deferral, payout and other limitations and restrictions imposed under Section 409A.  Notwithstanding any other provision of this Plan to the contrary, this Plan shall be interpreted, operated and administered in a manner consistent with such intentions.  Without limiting the generality of the foregoing, and notwithstanding any other provision of this Plan to the contrary, with respect to any payments and benefits under this Plan to which Section 409A applies, all references in this Plan to the termination of an Executive's employment are intended to mean an Executive's "separation from service," within the meaning of Code Section 409A(a)(2)(A)(i).  
9.    SECTION 280G
		
	(a)
	In the event that the Executive shall become entitled to payments and/or benefits provided by this Plan or any other amounts in the “nature of compensation” (whether pursuant to the terms of this Plan or any other plan, arrangement or policy with the Company, any person whose actions result in a change of ownership or effective control covered by Section 280G(b)(2) of the Internal Revenue Code (the “Code”) or any person affiliated with the Company or such person) as a result of such change in ownership or effective control (collectively, the “Company Payments”), and such Company Payments will be subject to the tax imposed by Section 4999 of the Code (and any similar tax that may hereafter be imposed by any taxing authority) (the “Excise Tax”), the amounts of any Company Payments shall be automatically reduced to an amount one dollar less than the amount that would subject the Executive to the Excise Tax.  The dollar amount of the reduction, if any, to be made with respect to any Company Payments shall be determined by the Company’s Accountants on or before the date such Company Payments are due and payable to the Executive.  Company Payments shall be reduced as mutually agreed between the Company and the Executive or, in the event the parties cannot agree, in the following order (1) any lump sum severance based on a multiple of Annual Base Salary or Average Annual Bonus, (2) any other cash amounts payable to the Executive, (3) any benefits valued as parachute payments; and (4) acceleration of vesting of any equity.

		
	(b)
	For purposes of determining whether any of the Company Payments will be subject to the Excise Tax and the amount of such Excise Tax, (x) the Company Payments shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code, and all “parachute payments” in 

excess of the “base amount” (as defined under Code Section 280G(b)(3) of the Code) shall be treated as subject to the Excise Tax, unless and except to the extent that, in the opinion of the Company’s Accountants such Company Payments (in whole or in part) either do not constitute “parachute payments,” represent reasonable compensation for services actually rendered within the meaning of Section 280G(b)(4) of the Code in excess of the “base amount” or are otherwise not subject to the Excise Tax, and (y) the value of any non-cash benefits or any deferred payment or benefit shall be determined by the Company’s Accountants in accordance with the principles of Section 280G of the Code.  In the event that the Company’s Accountants are serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Executive may appoint another nationally recognized accounting firm to make the determinations hereunder (which accounting firm shall then be referred to as the “Company’s Accountants” hereunder).  All determinations hereunder shall be made by the Company’s Accountants which shall provide detailed supporting calculations both to the Company and the Executive at such time as it is requested by the Company or the Executive.  If the Company’s Accountants determine that payments under this Plan must be reduced pursuant to this paragraph, they shall furnish the Executive with a written opinion to such effect.  The determination of the Company’s Accountants shall be final and binding upon the Company and the Executive.
		
	(c)
	In the event of any controversy with the Internal Revenue Service (or other taxing authority) with regard to the Excise Tax, the Executive shall permit the Company to control issues related to the Excise Tax (at its expense), provided that such issues do not potentially materially adversely affect the Executive, but the Executive shall control any other issues.  In the event the issues are interrelated, the Executive and the Company shall in good faith cooperate so as not to jeopardize resolution of either issue, but if the parties cannot agree the Executive shall make the final determination with regard to the issues.  In the event of any conference with any taxing authority as to the Excise Tax or associated income taxes, the Executive shall permit the representative of the Company to accompany the Executive, and the Executive and the Executive’s representative shall cooperate with the Company and its representative.  The Company shall be responsible for all charges of the Company’s Accountant.  The Company and the Executive shall promptly deliver to each other copies of any written communications, and summaries of any verbal communications, with any taxing authority regarding the Excise Tax covered by this section. 

10.    NO CONTINUED RIGHT TO EMPLOYMENT

The provisions of this Plan do not constitute a contract of employment between the Company and any employee.  The Plan creates no contractual rights with respect to the continuation of an Executive’s employment with the Company.  
11.    TAX TREATMENT
Severance payments under this Plan will be subject to local, state and federal tax deductions and withholdings in accordance with applicable law.
12.    ADMINISTRATION
This Plan shall be administered and interpreted by the Compensation Committee of the Company’s Board of Directors.  
13.    MISCELLANEOUS  
		
	(a)
	Governing Law. This Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without reference to principles of conflict of laws.  The captions of this Plan are not part of the provisions hereof and shall have no force or effect.

		
	(b)
	Severability.  The invalidity or unenforceability of any provision of this Plan shall not affect the validity or enforceability of any other provision of this Plan.

		
	(c)
	Waiver. The Executive’s or the Company’s failure to insist upon strict compliance with any provision hereof shall not be deemed to be a waiver of such provision or any other provision thereof.

		
	(d)
	Amendment. This Plan may be amended or modified only by written action of the Compensation Committee; provided, however, that any such amendment or modification that materially and adversely affects the rights of an Executive shall not be effective as applied to such Executive until six months after the Company provides written notice such Executive of any such amendment or modification.

		
	(e)
	Successors.  This Plan is personal to the Executive and without the prior written consent of the Company shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution.  This Plan shall inure to the benefit of and be enforceable by the Executive’s legal representatives.  This Plan shall inure to the benefit of and be binding upon the Company and its successors and assigns.  The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets 

of the Company to assume expressly and agree to perform this Plan in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.  The Company or successor shall provide written evidence to the Executive to document compliance with the foregoing sentence within ten (10) business days of the date of the consummation of a transaction whereby a third party becomes a successor to the Company.  As used in this Plan, “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Plan by operation of law, or otherwise. 
		
	(f)
	Counterparts. This Plan may be executed in several counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

14.    DEFINITIONS
“Accrued Obligations” means the sum of any portion of the Executive’s base salary earned but not yet paid through the date of termination and any accrued and unpaid vacation pay, in each case, to the extent earned, but not yet paid by the Company through the date of termination.
“Affiliate” means each of the following:  (a) any Subsidiary; (b) any Parent; (c) any corporation, trade or business (including, without limitation, a partnership or limited liability company) which is directly or indirectly controlled 50% or more (whether by ownership of stock, assets or an equivalent ownership interest or voting interest) by the Company or one of its Affiliates; (d) any trade or business (including, without limitation, a partnership or limited liability company) which directly or indirectly controls 50% or more (whether by ownership of stock, assets or an equivalent ownership interest or voting interest) of the Company; and (e) any other entity in which the Company or any of its Affiliates has a material equity interest and which is designated as an “Affiliate” by resolution of the Committee; provided that, unless otherwise determined by the Committee, the Common Stock subject to any Award constitutes “service recipient stock” for purposes of Section 409A of the Code or otherwise does not subject the Award to Section 409A of the Code.
“Board” means the Board of Directors of the Company.
“Cause” means, with respect to an Executive’s Termination of Employment, the Executive’s:  (i) failure to perform his or her duties, (ii) commission of, or indictment for a felony or any crime involving fraud or embezzlement or dishonesty or conviction of, or plea of nolo contendere to a misdemeanor (other than a traffic violation) punishable by imprisonment under federal, state or local law; (iii) engagement in an act of fraud or of willful dishonesty towards the Company or any of its Affiliates; (iv)  misconduct or 

negligence while employed by the Company or any of its Affiliates; (v) violation of a federal or state securities law or regulation or employment law; (vi) dishonesty detrimental to the Company or any of its Affiliates; (vii) conduct involving any immoral acts which is reasonably likely to impair the reputation of the Company or any of its Affiliates; (viii)  disloyalty to the Company or any of its Affiliates; (ix)  use of a controlled substance without a prescription or the use of alcohol which impairs his or her ability to carry out his or her duties and responsibilities; (x)  violation of the Company’s policies and procedures or any breach of any agreement between the Company and him or her; or (xi)  embezzlement and/or misappropriation of property of the Company or any of its Affiliates.  With respect to a Participant’s Termination of Directorship, “cause” also means an act or failure to act that constitutes cause for removal of a director under applicable Delaware law.
“Change in Control” a “Change in Control” shall be deemed to occur if:
(a)  any Person is or becomes a “beneficial owner” (as defined in Rule 13d 3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities eligible to vote for the election of the Board (the “Company Voting Securities”); provided, however, that the event described in this paragraph (a) shall not be deemed to be a Change in Control by virtue of any of the following acquisitions:  (A) by the Company or any Subsidiary, (B) by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Subsidiary, (C) by any underwriter temporarily holding securities pursuant to an offering of such securities, (D) pursuant to a Non-Qualifying Transaction, as defined in paragraph (c), or (E) any Person or Persons acting as a group acquire voting securities from the Company, if immediately prior to such acquisition, such Person or Persons acting as a group owned, collectively or individually, if applicable, 30% or more of the Company Voting Securities;
(b)  during any twenty four month period, individuals who, as of the beginning of such period, constitute the Board (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to the beginning of such period whose election or nomination for election was approved by a vote of at least a majority of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent Director;
(c)  the consummation of a merger, consolidation, statutory share exchange or similar form of corporate transaction involving the Company or any of its Subsidiaries that requires the approval of the 

Company’s stockholders, whether for such transaction or the issuance of securities in the transaction (a “Business Combination”), unless immediately following such Business Combination:  (A) more than 50% of the total voting power of (1) the corporation resulting from such Business Combination (the “Surviving Corporation”), or (2) if applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of 100% of the voting securities eligible to elect directors of the Surviving Corporation (the “Parent Corporation”), is represented by Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which such Company Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the Business Combination, (B) no Person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Corporation or the Parent Corporation), is or becomes the beneficial owner, directly or indirectly, of 30% or more of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation), (C) at least a majority of the members of the board of directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) following the consummation of the Business Combination were Incumbent Directors at the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination and (D) any transaction where 30% or more of the Voting Securities of the Successor Corporation or Parent Corporation are held, directly or indirectly, by holder’s of the Company’s Voting Securities (in substantially the same proportion) as they held the Company’s voting securities immediately prior to the transaction (any Business Combination which satisfies the criteria specified in (A), (B), (C) or (D) above shall be a “Non-Qualifying Transaction” and shall not be deemed to be a “Change in Control”);  or 
(d)  the consummation of a sale of all or substantially all  (i.e., greater than 75% of the fair market value of all the Company’s assets, but  shall not include the sale of any assets of the Company’s carrier business) of the Company’s assets other than to a Person or Persons acting as a group then owning, collectively or individually, if applicable, 30% or more of Company Voting Securities. 
Notwithstanding the foregoing, a Change in Control shall be deemed to not have occurred (A) solely because any Person acquires beneficial ownership of more than 30% of the Company Voting Securities as a result of the acquisition of Company Voting Securities by the Company which reduces the number of Company Voting Securities outstanding unless after such acquisition by the Company such Person becomes the beneficial owner of additional Company Voting Securities by acquiring additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially owned by such Person 

or (B) as the result of either the acquisition of more than 30% of the Company Voting Securities or of all or substantially all of the Company’s assets by Carl C. Icahn, Technology Crossover Ventures or any of their  respective Affiliates.  
“Company” means Motricity, Inc., a Delaware corporation, and its successors by operation of law.
“Compensation Committee” means the Compensation Committee of the Company’s Board of Directors.
“Disability” means, unless otherwise determined by the Committee in the applicable Award Agreement, with respect to a Participant’s Termination, a permanent and total disability as defined in Section 22(e)(3) of the Code.  A Disability shall only be deemed to occur at the time of the determination by the Committee of the Disability.  Notwithstanding the foregoing, for Awards that are subject to Section 409A of the Code, Disability shall mean that a Participant is disabled under Section 409A(a)(2)(C)(i) or (ii) of the Code.
“Good Reason” means: (i) a material reduction in the Executive’s annual base salary; (ii) a material diminution in the Executive’s authority, duties and responsibilities as in effect on the date of consummation of the Change in Control (serving in a similar functional role (e.g., financial, legal) post Change in Control at a subsidiary or division shall not in and of itself be deemed a material diminution); or (iii) a change in the metropolitan area in which Executive’s principal office was located immediately prior to the Change in Control; provided, however, that Good Reason shall not exist unless the Executive has given written notice to the Company within ninety (90) days of the initial existence of the Good Reason event or condition(s) giving specific details regarding the event or condition; and unless the Company has had at least thirty (30) days to cure such Good Reason event or condition after the delivery of such written notice and has failed to cure such event or condition within such thirty (30) day cure period.
“Termination Without Cause” An involuntary termination of an Executive by the Company for any reason other than a Termination for Cause.
15.    CLAIMS PROCEDURE
This is an employee welfare plan within the meaning of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).  It is not necessary that an Executive apply for severance payments and other severance benefits under the Plan.  However, if an Executive wishes to file a claim for severance payments and other severance benefits, such claim must be in writing and filed with the Compensation Committee.  Within ninety (90) days after receiving a claim, unless special circumstances require a longer period of time 

to review the claim, the Compensation Committee will:
		
	(a)
	either accept or deny the claim completely or partially; and 

		
	(b)
	notify the claimant of acceptance or denial of the claim.

If an extension is required, the Compensation Committee will send a claimant a notice explaining why the extension is needed and the date by which the Compensation Committee expects to make its decision.  In no case, however, will the extension exceed one-hundred and eighty (180) days after the receipt of the original claim.
If the claim is completely or partially denied, the Compensation Committee will furnish a written notice to the claimant containing the following information:
		
	•
	specific reasons for the denial;

		
	•
	specific references to the Plan provisions on which any denial is based;

		
	•
	a description of any additional material or information that must be provided by the claimant in order to support the claim and reason why such material or information is necessary; and

		
	•
	an explanation of the Plan’s appeal procedures and time limits applicable to such procedures, including a statement of any right of the  claimant to bring a civil action under ERISA Section 502(a).

A claimant may appeal the denial of his/her claim and have the Compensation Committee reconsider the decision.  The claimant or the claimant’s authorized representative has the right to:
		
	•
	request an appeal by written request to the Compensation Committee, not later than sixty (60) days after receipt of notice from the Compensation Committee, denying his claim;

		
	•
	review relevant Plan documents; and

		
	•
	submit issues and comments regarding the claim in writing to the Compensation Committee.

The Compensation Committee will make a decision with respect to such an appeal within sixty (60) days after receiving the written request for such appeal, unless special circumstances require a longer period of time to review the appeal.  If an extension is required, the Compensation Committee will send the claimant a notice explaining why the extension is needed and the date by which the Compensation Committee expects to make its decision.  In no case, however, will the extension exceed one-hundred and twenty (120) days 

after the receipt of the appeal.  
The claimant will be advised of the decision of the Compensation Committee on the appeal in writing.  The notice will set forth the (i) specific reasons for the decision, (ii) make specific reference to Plan provisions upon which the decision on the appeal is based, (iii) a statement that the claimant may access the relevant documents and information free of charge, and (iv) a statement regarding any right that the claimant has to bring a civil action under ERISA Section 502(a).
In no event shall a claimant or any other person be entitled to challenge a decision of the Compensation Committee in court or in any other administrative proceeding unless and until the claim and appeal procedures described above have been complied with and exhausted.
16.    RIGHTS UNDER ERISA  
As a participant in an ERISA‐covered plan, you have the following rights:  
		
	(a)
	To examine all documents relating to this Plan without charge at the Company’s offices during normal working hours.  These documents may include annual financial reports, insurance contracts, plan descriptions, and all other official plan documents filed with the United States Department of Labor or Internal Revenue Service.  

		
	(b)
	To obtain copies of documents relating to this Plan and other information by writing to the Benefits Department or the Chief Human Resources Officer.  You will be required to pay a reasonable charge for the copies.  

		
	(c)
	To not be discharged or discriminated against to prevent you from obtaining a benefit or exercising your ERISA rights.  

		
	(d)
	If your claim for a benefit is denied in whole or in part, you will receive a written explanation of the denial.  You have the right to have the Compensation Committee review and reconsider your claim.  

In addition to creating rights for plan participants, ERISA imposes certain duties on the people responsible for the operation of the plans.  The people who operate the plans, called fiduciaries, have a duty to do so prudently and in the best interest of each Executive and other plan participants and beneficiaries.  
Under ERISA, you can take the following steps to enforce your rights:  
		
	(a)
	If you request materials and do not receive them within 30 days, you may file suit in a federal court.  

In such a case, the court may require the Chief Human Resources Officer to provide the materials and pay you up to $110 a day until you receive the materials – unless the materials were not sent due to reasons beyond the control of the Chief Human Resources Officer.  
		
	(b)
	If your claim for benefits is denied or ignored in whole or in part, you may file suit in a federal court.  

		
	(c)
	If you are discriminated against for pursuing a benefit or exercising your ERISA rights, you may seek help from the United States Department of Labor or file suit in a federal court.  

If you file suit against a plan, the court will decide who should pay court costs and legal fees.  If you win your suit, the court may order the person you have sued to pay the court costs and legal fees.  If you lose your suit, the court may order you to pay the costs and fees if, for example, the court decides your suit was frivolous.  
If you have any questions about this Plan, you should contact the Company’s Chief Human Resources Officer.  If you have questions about your rights under ERISA, you may contact the nearest area office of the U.S. Employee Benefits Security Administration, Department of Labor, listed in your telephone directory, or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, United States Department of Labor, listed in your telephone directory, 200 Constitution Avenue, N.W., Washington, D.C. 20210.  
17.    INFORMATION CONCERNING THE PLAN
The Company’s address is:
Motricity, Inc.
601 108th Avenue NE
Suite 900
Bellevue, WA 98004

The legally designated Plan Administrator is the Compensation Committee.  Any questions regarding the Plan should be directed to Chief Human Resources Officer.
Any inquiries or legal process, to be served, relating to the Plan may be addressed to the Plan Administrator in care of the Employer at the following address:
Motricity, Inc.
601 108th Avenue NE
Suite 900
Bellevue, WA 98004

The Company’s Tax Identification Number is 20-1059798. 
The Plan Number is [______].

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